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Real Estate News Today 11-30-2011

30 Nov

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

Las Vegas notary public guilty in robo-signing scheme found dead
HousingWire | November 29, 2011
A Las Vegas notary public who was scheduled to be sentenced for her part in a foreclosure robo-signing scheme was found dead in her home Monday after she failed to show up for sentencing.

Jump in Confidence Suggests Consumers Tuning Out Washington
The Wall Street Journal | November 29, 2011
Consumer confidence rose sharply in November, the Conference Board reported, in a sign that recent gains in the labor market and modest momentum in the recovery may be starting to lift Americans’ gloomy spirits.

Central Banks Expand System of ‘Swapping’ Money to Ease Credit Crunch
The Washington Post | November 30, 2011
The world’s major central banks unveiled a new strategy Wednesday morning to try to create a wall of money to try to prevent Europe’s financial woes from undermining the stability of the global banking system.

When Home Is Where the Hotel Is
The Wall Street Journal | November 29, 2011
Luxury hotels are hoping more guests will check in and stay awhile – a very long while.

Housing Recovery Hinges on Household-Formation Gain, Case Says
BusinessWeek | November 29, 2011
U.S. home prices won’t recover until the economy improves enough to boost the number of households and clear an oversupply of properties, said economist Karl Case, co-founder of the S&P/Case-Shiller home price index.

A New Shot at Mortgage Relief
The New York Times | November 29, 2011
Like millions of other homeowners, William D. Compton would like to refinance his mortgage so that he pays less each month for his three-bedroom house in Gulf Breeze, Fla. With the savings, he figures he could afford a few extra movies and restaurant dinners or he could buy a new stove and brakes for his car, purchases he has postponed because finances are so tight.

Housing Slump Continues – But the Momentum is Slowing
Time | November 29, 2011
September housing prices, as measured by the S&P/Case-Shiller Housing Index, are out, and they’re down 3.6% year-over-year. This continues a trend that we’ve seen since the summer: Housing prices continue to fall, but more slowly than before. (The prior month, they had fallen at a 3.8% year-over-year rate.) While the continuing deceleration is good news, it’s a trend that doesn’t portend a recovery in 2012. More likely it’ll be 2013.

OCC proposes moving credit rating duties to banks
HousingWire | November 29, 2011
National banks must be able to determine on their own that the risk of default is low and a full, timely repayment of principal and interest is expected on an underlying loan before issuing the “investment grade” security, according to a new rule proposed by the Office of the Comptroller of the Currency Tuesday.  (While I understand what they are trying to accomplish, this doesn’t seem like a good idea. ~ Anthony)

From the National Association of Realtors®:

New-Home Sales Post Biggest Gains in Months
“Builders have been seeing some marginal improvement in sales activity over the past few months, particularly in select markets where consumer confidence is higher due to improved economic conditions,” the National Association of Home Builders chairman says.

Don’t Let Foreclosure Buyers be Tempted by Price Alone
Buyers may be swayed by the big bargain prices that foreclosures often offer. But before they jump in, some housing experts say they need to be warned that it may not be as big of bargain as they believe.

Could Property Managers Help the Market Recover?
As more real estate practitioners make the move into property management, experts say their skills and thoughtfulness in managing real estate portfolios could help the housing market recovery.

 

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
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

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