RSS

Monthly Archives: November 2011

Real Estate News Today 11-14-2011


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

How Many Homes Are in Trouble?
The Wall Street Journal | November 11, 2011
Call it what you will—the “shadow inventory,” the “distressed inventory,” the “foreclosure pipeline”—but if you ask five researchers how many houses or mortgages we should worry about, you’ll probably get at least five completely different answers. (We’ve all seen the wide variety of opinions regarding “shadow inventory”.  This is a great illustration of how dramatically the opinions vary. ~Anthony)

Gen X Takes The Housing Hit; Boomers Only Grazed
NPR | November 14, 2011
At this time five years ago, the white-hot U.S. housing market was starting to cool. Before long, it would slip into a deep freeze.  The thaw still hasn’t come. The latest statistics show residential real estate prices are continuing to drop — a trend that could have a long-lasting impact on the net wealth of younger homeowners who bought property during the housing bubble.

Housing to Gradually Improve in 2012, NAR Economist Says
HousingWire | November 11, 2011
Gradual improvement in the housing market is expected next year, with existing-home sales edging up 4% to 5% and new home sales getting an even bigger boost off this year’s record lows, the chief economist of the nation’s largest real estate group said Friday.

Condo Associations Struggle to Meet Stricter FHA Guidelines
HousingWire | November 12, 2011
Time is up for many condo associations to benefit from borrowers using mortgages insured by the Federal Housing Administration. Fewer than 10% of the nation’s condominiums received recertification nearly two years after a change in requirements.  (This is worth the read.  I can’t tell you how much the new FHA rules have affected the condo market, but anecdotally I can tell you we’ve had plenty of cases here in Spokane where the condo sale didn’t go through for one of the reasons listed in the article.  It’s definitley a problem. ~Anthony)

Need to Bank? Phone It In
The Wall Street Journal | November 14, 2011
Small-business owners are starting to do their banking on the go.  A growing number of entrepreneurs are tapping into smartphone apps from lenders that let them do a range of jobs, from checking their balances and paying bills to depositing checks.

Mortgage Scams in a Weak Housing Market
The Wall Street Journal | November 14, 2011
Fraudsters will always finds ways to scam lenders and homeowners. And in recent years, they’ve shifted their tactics to profit from the market’s downturn.  Today, there’s less identity fraud and misrepresentation of income or employment to obtain a mortgage, mainly because of stricter validation criteria, says David Johnson, vice president of fraud and consortium solutions for CoreLogic, a provider of financial, property and consumer information.

From the National Association of Realtors®:

Foreclosures Reach 7-Month High
“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year,” says a RealtyTrac spokesperson.

NAHB to Appraisers: Stop Using Distressed Sales in Comps
The National Association of Home Builders is speaking out against the use of foreclosures, short sales, and other distressed properties used as comparables to new-home in appraisals.  (I can see and have debated both sides of this issue, but I’m curious to hear your thoughts.  On the one hand, those properties are certainly a large portion of what is selling right now.  On the other hand, you cn debate that a brand-new home is different than a distressed property.  Thoughts? ~Anthony)

Tips for Selling a Home in the Winter
It can be a challenge to sell a home in the winter but certainly not impossible. Here are a few tips to make sure the home shows in the best light, no matter the season.  (If you are a home seller right now, this is a must-read! ~Anthony)

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:     LinkedIn     Twitter     Facebook

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

 

Tags: , , , , , , ,

Real Estate News Today 11-11-2011


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

Mortgage Rates Fall Below 4% for Second Time: Freddie
The MReport.com | November 10, 2011
Ongoing trouble in Europe meshed with low home prices to keep a heel on mortgage rates this week, with Freddie Mac offering up news that interest rates for loans fell below 4 percent for the second time this year.

Wells Fargo forms new group to finance REITs
HousingWire | November 9, 2011
Wells Fargo & Co. announced the creation of a new business segment Wednesday that will provide financing for real estate investment trusts.  Wells Fargo REIT Finance Groupwill offer banking services, lines of credit, term loans and construction loans to REITs.

Why you can’t get the lowest mortgage rates
MarketWatch | October 31, 2011
Mortgage rates are near historical lows, but the rates lenders are quoting you aren’t as eye-popping as those you see in the news.  Why is that?

S&P says mistakenly announced French downgrade
Yahoo! News | November 10, 2011
Ratings agency Standard and Poor’s said Thursday that it had mistakenly announced to some clients a downgrade of France’s top “AAA” credit rating, amid speculation of just such a move.  “As a result of a technical error, a message was automatically disseminated today to some subscribers of S&P’s Global Credit Portal suggesting that France’s credit rating had been changed,” S&P said in a statement.

Key lesson from Iceland crisis is ‘let banks fail’
Yahoo! News | November 5, 2011
Three years after Iceland’s banks collapsed and the country teetered on the brink, its economy is recovering, proof that governments should let failing lenders go bust and protect taxpayers, analysts say.

From the National Association of Realtors®:

Survey Reveals Why Buyers Are Waiting on Sidelines
“Perceptions as much as the realities of home ownership are standing in the way of boosting demand for housing,” says a spokesperson for Move Inc. about new survey findings.  (It seems to me that the “younger generation” is misinformed or misguided about the cost of housing-or on what it should cost.  We need to educate them!  Read for yourself and you decide. ~Anthony) 

Falling Rates Send Mortgage Apps Soaring 10%
More borrowers took advantage of lower interest rates this past week to buy homes and refinance existing loans.

Federal Gov’t Properties Hit the Auction Block
The federal government is trying to unload some real estate, and your buyers can now start the bidding in online auctions on various government properties, including residential homes in sought-after areas.

Anthony Carollo 2007 EMAIL  

 

Join My List

 

Find me on:     LinkedIn     Twitter     Facebook

 

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.

 

 

Real Estate News Today 11-10-2011


Corker Introduces Senate Bill to Wind Down Fannie, Freddie
BusinessWeek | November 9, 2011
U.S. Senator Bob Corker has introduced legislation to unwind Fannie Mae and Freddie Mac, the mortgage companies that have drawn more than $150 billion in taxpayer aid since the 2008 subprime lending collapse.

Americans Consider Housing Policy in 2012 Election
DSNews | November 9, 2011
As Americans consider the best candidates for the 2012 presidential and congressional elections, housing is at the forefront of the debate for many.

GOP Candidates Offer Their Cure for What Ails Housing
HousingWire | November 9, 2011
Former Speaker of the House Newt Gingrich, whose firm represented Freddie Mac at the height of the housing bubble, advocated abolishing Freddie and Fannie Mae during a Wednesday night GOP debate focused largely on the economy.

Monthly Mortgage Payment Almost 40% Cheaper Than 2006
HousingWire | November 9, 2011
Housing affordability improved dramatically because of declines in both prices and mortgage interest rates, according to Fiserv’s chief economist.

Foreclosure Activity Increases for Third Straight Month
DSNews | November 9, 2011
Foreclosure filings in October rose 7 percent from the previous month, RealtyTrac reported Thursday.

Home Prices Fall in Nearly 75% of Metros.
The Wall Street Journal | November 9, 2011
U.S. home prices fell in nearly 75% of metropolitan areas in the third quarter and the national median price dropped as the housing market showed renewed weakness in the second half of the year.

Lawmakers Target Fannie, Freddie Pay
The Wall Street Journal | November 9, 2011
U.S. lawmakers are seeking to rein in pay for executives at Fannie Mae and Freddie Mac, arguing that taxpayer funds shouldn’t be spent on bonuses at the two government-controlled mortgage firms.

Ginnie Mae Calls 2011 ‘Best Year Yet’
HousingWire | November 9, 2011
Ginnie Mae reported $1.18 billion in net income for the fiscal year 2011, more than double the $541 million the year before.

Looking to Buy Property? Check With the Postal Service
The Washington Post | November 9, 2011
Two weeks ago it quietly launched USPSPropertiesforSale.com, a site listing more than 90 post offices and mail distribution centers the U.S. Postal Service is hoping to sell to generate some revenue and cut operational costs.

Debt-Reduction Talks Sputter Along
The Washington Post | November 9, 2011
A Democrat sees a “breakthrough” in talks, but the panel remains apart on the shape of a blueprint.

 

Anthony Carollo

Join My List

Find me on:     LinkedIn     Twitter     Facebook

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

 

Real Estate News Today 11-9-2011


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

MetLife originates $1.6 billion in agricultural mortgages
HousingWire | November 8, 2011
Insurer MetLife which runs its own agricultural investment unit, originated $1.6 billion in agricultural mortgages this year to support farms, ranches, timberland and agribusiness facilities.  The firm’s recent originations included a $75 million contribution towards a $90 million senior secured loan on Aurora Cooperative out of Aurora, Neb. The loan is secured by grain handling and storage facilities.  (It’s great to see positive news of investment into the breadbasket of America.  If you are a Spokanite and you haven’t yet visited our local breadbasket and supported the folks at Green Bluff or the farmers market, it’s worth the trip!  I believe there is real value in teaching the younger generation where their food comes from.  http://www.greenbluffgrowers.com/  or http://www.spokanefarmersmarket.org/ )

CFPB Reveals Larger Prototype Mortgage Form for Public Scrutiny
HousingWire | November 8, 2011
After collecting feedback from thousands of members of the industry on its prototype mortgage disclosure forms, the Consumer Financial Protection Bureau is ready to accept public opinions on the documents.

Designing the Mortgage Form of the Future.
The Wall Street Journal | November 8, 2011
Buying a home produces enough documents to make your head hurt – or your hand from signing all of them.

Mortgage Applications Jump 10.3% as Interest Rates Decline
HousingWire | November 9, 2011
Mortgage applications increased 10.3% this past week as more homeowners refinanced existing mortgages or took advantage of lower interest rates to buy homes.

Housing Market Looks Fine From Here
The Wall Street Journal | November 8, 2011
The number of housing markets showing signs of improved economic health grew from 23 to 30 nationwide, according to a market index produced by a housing industry trade group and a national title insurance firm.

Foreclosure Backlogs Could Take Decades to Clear Out
USA Today | November 9, 2011
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.

Wealthy Qualifying for Loans Intended for Low-Income Borrowers
Bloomberg | November 8, 2011
Congress is weighing a proposal to restore higher loan limits that expired on Oct. 1. The measure, already adopted by the Senate, would allow the FHA and government-controlled Fannie Mae and Freddie Mac to insure single-family mortgages for as much as $729,750, up from the current $625,500, in high-cost parts of the country.

Governments on the Prowl
The Wall Street Journal | November 9, 2011
Municipalities in many parts of the U.S. are buying properties rather than renting or building them to take advantage of the weak sales markets.

Holiday Travelers Should Expect Higher Airfares and Packed Planes
The Los Angeles Times | November 9, 2011
Because airlines have reduced thousands of available seats, low-fare airline tickets for the busiest days surrounding Thanksgiving and Christmas will go quickly, experts say, leaving only high-priced seats or fares for flights several days before or after the holidays.

Green Bluff 2011-small
Green Bluff 2011  

 

 

Join My List

Find me on:   LinkedIn     Facebook

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

 

 

Real Estate News Today 11-8-2011


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

Home Prices Slip in September: CoreLogic
Reuters | November 7, 2011
U.S. home prices fell in September for a second month in a row, pressured by weak demand and cheap distressed sales, data analysis firm CoreLogic Inc said on Monday.

Nevada Foreclosure Filings Dry Up After ‘Robo-Signing’ Law.
The Wall Street Journal | November 7,2011
Foreclosure filings in Nevada plunged in October during the first month of a new state law stiffening foreclosure-processing requirements.

White House, Agencies Cut Red-Tape for Some Multifamily Housing Developers
HousingWire | November 7, 2011
Government agencies are peeling back a few regulatory requirements in several states to make it easier for developers of federally subsidized multifamily housing to develop properties without having to pay for redundant inspections and other repetitive guidelines.

Foreclosure Starts Rise as Servicers Process Backlog of Delinquent Loans
DSNews | October 7, 2011
Foreclosure starts among private-label residential mortgage-backed securities (RMBS) have been rising toward historic averages, which will lead to an influx of distressed properties bringing downward pressure to the housing market, according to Fitch Ratings.

SEC Urgently Working Dodd-Frank into Reality
HousingWire | November 6, 2011
Mary Schapiro, chairman of the Securities and Exchange Commission, said the steam and velocity of the rulemaking mandated by the sweeping financial reforms of the Dodd-Frank Act are sometimes “taking too long” or in other cases “not taking long enough.”

Ten Field Service Approaches to Protect the Value of REO Properties
DSNews.com | November 7, 2011
Effective solutions to revive the market will take time. Meanwhile, upholding the condition, value, and ultimately the marketability of REO properties; protecting surrounding properties; and minimizing REO portfolio losses will continue to pose a significant challenge for servicers and investors.

From the National Association of Realtors®:

 

3 Red Flags When Applying for a Mortgage
Make sure your buyers aren’t calling more attention than needed to their loan applications by doing one of these three red flags.

Top Priorities of Single Female Home Buyers
Twenty percent of recent home buyers were single females. When house-shopping, here’s what they tend to desire most, according to surveys.

 

Anthony Carollo

 

Join My List

 

Find me on:     LinkedIn     Twitter     Facebook

 

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


 

 

Tags: , ,

Real Estate News Today 11-7-2011


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

Occupied Oakland Promotes Occupying Vacant Properties
DSNews.com | November 4, 2011
The Occupy Oakland group is starting a new wave of occupations. They intend to occupy vacant properties.  The Occupy Oakland group announced on Twitter earlier this week that its general assembly “just passed a proposal to encourage the occupation of bank-owned/foreclosed and abandoned properties across #Oakland.”  (While I withhold comment on the whole “Occupy” movement, I will say that this strategy will NOT help the real estate and housing economy to recover; and would in fact hurt the chances of reselling those properties and getting those asset dollars back into the working economy.  ~Anthony)

Lobbying Titans Square Off Over Loan Limits
The Wall Street Journal | November 4, 2011
Influential housing and banking industry lobbying groups are clashing on Capitol Hill over whether to restore higher limits on the size of government-backed mortgage loans.

Home Price Growth Has Dissipated With the Summer Heat: Clear Capital
DSNews | November 4, 2011
Temperatures are falling, and so are home prices in most local markets. Clear Capital says it’s expecting another long winter as the housing industry tries to cope with the downward forces of weak demand, record-low consumer confidence, and distressed inventory.

First-Time Defaults in Private-Label MBS Edge Up in October
HousingWire | November 4, 2011
First-time defaults on private mortgages edged up to a rate of 0.89% in October, a slight increase from this segment’s default rate of 0.86% in September, a new report from Amherst Securities Group said Friday.

More Problems are Found With Home Buyer Tax Credits
The Los Angeles Times | November 6, 2011
An audit shows the IRS has been sending notices to taxpayers that either inform them they owe no repayments on their credits when they actually do, or demand repayments from recipients who legally owe nothing.

USDA Mortgages an Affordable Option
NASDAQ | November 5, 2011
If you’re looking for an affordable and obtainable mortgage, don’t overlook a USDA Rural Development Loan.

Lower Mortgage-loan Limit has Yet to Kill Off Market
The Seattle Times | November 7, 2011
Potential homebuyers are now looking for financing from generally higher-cost, private sources with stricter lending guidelines if they need to borrow more than $506,000.

Finding More Flaws in HUD’s Accounting of HOME Program
The Washington Post | November 6, 2011
The calls started in mid-May, two weeks before a looming congressional hearing. Staff members across the vast U.S. Department of Housing and Urban Development were racing to check in with hundreds of local agencies to determine the status of housing construction projects for the poor.

From the National Association of Realtors®:

More Adult Children Move Back in With Parents
The “doubling-up” trend of adult children moving back to their parents’ home cuts into the formation of new households and is being felt in the housing market, says the chief economist for Moody’s Analytics.

Android Users: Beware of QR Codes, Expert Says
The scannable bar codes have become a popular marketing tool but one security expert is telling Android smartphone users to watch out before they scan.

Maximize Your Business Potential on LinkedIn
LinkedIn is filled with business potential for real estate professionals. Start by creating a strong profile to make a great first impression. From there, utilize LinkedIn’s resources to connect with potential clients. Here are some tips from RealtyBizNews.  (Once you’ve done all that, then connect with me at http://www.linkedin.com/in/anthonycarollo ~Anthony)


 

Anthony Carollo

 

Join My List

 

Find me on:     LinkedIn     Twitter     Facebook

 

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

 

 

Tags: , , , , , , ,

Real Estate News Today 11-4-2011


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

Why housing deserves a home in your portfolio
MarketWatch | November 4, 2011
Now may be a great time to buy a house, given that years of falling home prices and low mortgage rates have made buying a place to live more affordable than it has been in decades. And that’s not just a pitch from the National Association of Realtors.

Mortgage Rates Plunge Amid Euro Zone Trouble
The MReport.com | November 3, 2011
After inching forward in the last few weeks, mortgage rates again plummeted on fresh concerns about the euro zone crisis, with rates dropping to 4.00 percent, the second-lowest reading for Freddie Mac.

U.S. Payrolls Rose in October; Jobless Rate 9%
Bloomberg | November 4, 2011
U.S. employment climbed in October at the slowest pace in four months, illustrating the “frustratingly slow” progress cited by Federal Reserve Chairman Ben S. Bernanke this week.

HAMP Mods Spike at Mortgage Servicers Despite Tighter Rules
HousingWire | November 3, 2011
Mortgage servicers started 40,151 permanent modifications through the government’s program in September, the highest monthly amount since May 2010.

Freddie Could Take More Than a Decade to Unload REO Inventory
HousingWire | November 3, 2011
Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb.

Freddie Mac Has Wider Loss, Seeks $6 Billion From Treasury
BusinessWeek | November 3, 2011
Freddie Mac, one of two mortgage- finance companies under U.S. conservatorship, reported a $4.4 billion loss for the third quarter and said it will seek $6 billion from the U.S. Treasury Department.

U.S. Commercial-Property Lending Rises to Highest Since 2007
Bloomberg | November 3, 2011
U.S. commercial-property loan originations rose to the highest since 2007 in the third quarter as banks, insurers and government-backed finance companies increased lending, the Mortgage Bankers Association said today.

Anthony Carollo 2007 EMAIL  

 

Join My List

Find me on:   LinkedIn     Facebook

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

 

 

Tags: , , , , , , ,

Real Estate News Today 11-3-2011


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

That New Renter? Probably a Single Mom.
The Wall Street Journal | November 2, 2011
Among renters, single moms saw the biggest growth among household types between 2000 and 2010, according to Census data analyzed by Property and Portfolio Research.

Consumer Bureau Defends 100 First Days to GOP Critics
The Hill | November 2, 2011
A top official from the Consumer Financial Protection Bureau (CFPB) yet again had to defend the new agency from Republican critiques Wednesday.

Home-Ownership Rate Climbs: Blip or Early Trend?
The Wall Street Journal | November 2, 2011
The nation’s homeownership rate ticked up in the third quarter compared with the second quarter, suggesting that the three-year decline in home ownership may be starting to bottom out.

NAR Adds Foreign Market to Online Listings
HousingWire | November 3, 2011
National Association of Realtors and Move Inc.launched an international website Thursday that features residential real estate listings from Brazil, Bulgaria, Croatia, France, Italy, Portugal, Romania, Serbia, Slovakia and Spain.  (OK this is awesome!  Now I can window shop in my ancestral home of Italy! I know I could do that before, but I think this brings those foreign properties closer to the flat screens of Americans~Anthony)

Housing Could Be Key to Stronger U.S. Rebound
Reuters | November 2, 2011
A fresh emphasis on healing the housing sector by officials at the Federal Reserve, in the Obama administration and in state capitals reflects the view that a healthier real estate market would go a long way in strengthening the economy.  (I put this in here more for the irony than for the news factor.  Is this a no-brainer or what?  Housing and jobs, it seems so simple doesn’t it? ~Anthony)

Seattle home sales shoot up as prices hit 7-year lows
HousingWire | November 2, 2011
September home sales in Seattle increased 26.2% when compared to the same month last year, DataQuick said Wednesday.  Sales in the area were spurred in part by reduced home prices across the market, the real estate data firm concluded.

From the National Association of Realtors®:

Falling Rental Vacancies
The total number of rental households has increased to 38 million in the second quarter of this year, an increase of 1.4 million renters in the past 12 months.  Because there has not been an overproduction in multifamily units in the past decade, higher demand for rental units has directly resulted in falling vacancy rates.  (Good short article from Lawrence Yun, Chief Economist at NAR ~Anthony)

First-time Home Buyers Haven’t Vanished
First-time home buyers aren’t being scared off from the housing market. The data shows a different story.

Before Buying a Foreclosure: 3 Things to Consider
If you have buyers considering a purchase of a distressed property, help them navigate the process more smoothly by following these three tips before jumping in.  (These three tips are a good start, but I can think of others.  I’d like to hear what you would advise a buyer who is considering buying either a foreclsoure or a distressed property like a short sale.  Please jump into the copnversation on my blog.)

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:   LinkedIn     Facebook

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

 

 

Tags: , , , , , , ,

Real Estate News Today 11-2-2011


I see some “things that make you go hmmm” today.  I’ll point them out to you without further commentary.  (:-)

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

U.S. to Review 4 Million Foreclosures
The Washington Post | November 1, 2011
If a review finds errors or abuses by financial firms, consultants will determine what recompense homeowners deserve.  (Hmmm)

LPS: Foreclosures Delinquent an Average of 624 Days
HousingWire | November 1, 2011
Foreclosure starts dropped 11.2% in September from the prior month, but loans in foreclosure have been delinquent an average of 624 days, which is the highest level yet and up about two weeks from the level reported in August.  (Hmmm)

Blueprint for a New American Home
The Wall Street Journal | November 2, 2011
Tough recent years are leaving their mark on home design, just as the housing-boom years sent square footage soaring and stamped a distinctive “McMansion” style on neighborhoods across the country

Home Building Spurs 2nd Straight Monthly Increase
The Washington Post | November 2, 2011
U.S. builders spent slightly more in September on home construction, partially offsetting losses in public schools, roads and government offices.

CFPB Now Employs 700 Staffers
HousingWire | November 1, 2011
The Consumer Financial Protection Bureau employs a staff of 700 after conducting a three-month hiring spree, the new regulator’s special adviser Raj Date said Tuesday.

Mortgage Bond Prices Show Refinancing Limits
Bloomberg | November 1, 2011
The mortgage-bond market is signaling changes to refinancing rules will aid fewer homeowners who owe more than their properties’ value than was initially anticipated.

Private Sector Adds 110,000 Jobs in October
Reuters | November 2, 2011
U.S. private-sector employers added 110,000 jobs in October, beating economists’ expectations, a report by a payrolls processor showed on Wednesday.

U.S. Consumer Bureau to Streamline Rules From Other Agencies
Bloomberg | November 1, 2011
The U.S. Consumer Financial Protection Bureau will begin a “targeted review” of regulations it inherited from other agencies to eliminate unnecessary rules, according to prepared congressional testimony from Raj Date, the de facto head of the agency.

From the National Association of Realtors®:

7 Cities With Fewest Underwater Home Owners
Dropping home values haven’t put home owners in the red everywhere. In some cities, home prices have not dropped or are rising. Find out which cities have the fewest number of underwater home owners.

Could Lenders Start Factoring in Energy Costs?
A newly introduced bill in the Senate calls for mortgage lenders to start taking into account the energy costs when determining if a buyer can afford a home.  (Last one…Hmmm)

Domestic Migration Hits Lows Last Seen in the 1940s
Worried they won’t find jobs or be able to sell their homes, U.S. residents are staying put, causing domestic migration to hit its lowest point since the 1940s. Those who are moving aren’t flocking to the Sun Belt. Find out which states are gaining young professionals.

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:   LinkedIn     Facebook

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

 

Real Estate News Today 11-1-2011


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

Fed, With Few Bullets Left, Unlikely to Act on Housing
MSNBC | November 1, 2011
When Fed Chairman Ben Bernanke opens a two-day meeting of central bank policymakers Tuesday, the moribund housing market will be front and center.

Economist: ARMs Not as Risky as Some Think
DSNews | October 31, 2011
Long-term, fixed-rate mortgages are often seen as a safe loan product, but one Federal Reserve economist says adjustable-rate mortgages (ARMs) are not as risky as some perceive them to be and did not play a major role in the recent housing crisis.

Freddie Mac Calls for $100 Billion in Annual Multifamily Investment
HousingWire | October 31, 2011
The head of Freddie Mac’s multifamily division projects that the asset class needs $1 trillion in capital over the next decade.

Top Housing Regulator Says He Lacks Authority for Foreclosure Relief
The Hill | October 31, 2011
The country’s leading housing regulator said he lacks the authority to provide “broad relief” to struggling homeowners trying to avoid foreclosure.

Dr. Ted Jones wrote an excellent blog on the potential effects of the modified Home Affordable Refinance Program (dubbed HARP 2.0).

From the National Association of Realtors®:

12 Most-Searched Housing Markets
Which cities are home buyers targeting the most? Here are the 12 most-searched metros at Realtor.com during September.

Multifamily Market Expected to See Big Growth
A new study by Morgan Stanley predicts that the flood of foreclosed home owners who are now forced to become renters will bring in $72 billion in rent annually.

Realtor.com to Add Apartment Listings
“It’s an opportunity to connect millions of people interested in what the convenience apartment communities offer,” says a spokesman for the company.  (Is this good, bad, or will it make a difference in your world? I’d love to hear form you.  ~Anthony)


Anthony Carollo 2007 EMAIL  

 

Join My List

 

Find me on:     LinkedIn     Twitter     Facebook

 

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

 

 
 
%d bloggers like this: