Real Estate News Today 11-29-2011

29 Nov

Today’s news that may be of interest to you:

Here is a great article on the newest HARP Program which kicks in this Thursday (HARP 2.0).
Can HARP 2.0 save you money on the mortgage?
Gaston Gazette | November 27, 2011
Home values continue to fall in the wake of the nation’s housing crisis. Millions of homeowners are underwater — owing more on mortgages than their homes are worth.  Recently announced changes to the Home Affordable Refinancing Program are part of a last-ditch effort by the federal government to help struggling homeowners. The refinancing program is aimed at those who have spent the years since the recession keeping up with mortgages as other walked away from debt. The plan: Save those folks some money on their house payments by helping them take advantage of today’s historically low interest rates.

Barney Frank’s Retirement: What it Means for House Financial Services Panel
The Washington Post | November 28, 2011
The news that Rep. Barney Frank will retire at the end of his term in 2012 sets off an internal scramble among Democrats to succeed the longtime Massachusetts lawmaker as the ranking member on the Financial Services Committee.

New-Home Sales Rise; Prices Fall
The New York Times | November 28, 2011
Americans bought slightly more new homes in October, the Commerce Department said Monday, but the median sales price fell to its lowest level of the year.

U.S. City Home Prices Probably Fell More Slowly
Bloomberg | November 29, 2011
Home prices in 20 U.S. cities probably fell at a slower pace and consumer confidence rose from a two-year low, showing the economy is stabilizing, economists said before reports today.

NAR Expects Some Commercial Real Estate Growth Next Year
HousingWire | November 28, 2011
The commercial real estate segment could experience some growth in 2012, the National Association of Realtors said Monday.

Once ‘Ugly’ Property Management Grows as U.S. Home Rentals Surge
Bloomberg | November 28, 2011
Just as the U.S. housing boom gave birth to such homebuyer websites as Zillow Inc. and Redfin Corp., services for rental properties are thriving following a surge in foreclosures and stiffening of mortgage standards.

Hispanic Households Grow, Accounting for More Than Half of New Homeowners
HousingWire | November 28, 2011
Hispanic households accounted for more than half of the nation’s homeowners in the third quarter, evidence of the potential purchasing power of Latinos during the housing recovery.

Fitch revises outlook on US to  negative from stable
HousingWire | November 28, 2011
Fitch Ratings affirmed several U.S. credit ratings at AAA on Monday, while also revising the nation’s overall long-term outlook to negative from stable.

From the National Association of Realtors®:

10 Cities Where Home Construction Is Taking Off
In many areas across the country, housing starts and permits are starting to level off. In these 10 metro areas, though, they’re rising.

Housing Inventories Shrink to Four-Year Lows
Is the competition getting less fierce? For the fifth straight month, the number of homes listed for sale nationwide continued to fall.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

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