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Real Estate News Today 12-23-2011

23 Dec

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

Payroll Tax Deal Represents GOP Capitulation
The Washington Post | December 22, 2011
Facing withering criticism from across the political spectrum and abandoned by Senate allies, House Republicans bow to political reality and agree to a two-month extension of a payroll tax cut for 160 million Americans.

Initial Jobless Claims Go Down Despite Jobs Being Scarce
The Washington Post | December 22, 2011
There has been some good news for job-seekers in recent weeks: A steep drop in the unemployment rate in November and fewer people filing for unemployment insurance benefits than at any other time in more than three years.

Fannie Mae Removes ‘Ability to Repay’ from HARP 2.0 Guidelines
DSNews | December 22, 2011
Fannie Mae has updated its Selling Guide to reflect the recently announced changes to the Home Affordable Refinance Program (HARP).

Fed Watch 2012: What Does Ben Have Up His Sleeve Now?
Forbes | December 22, 2011
The U.S. Federal Reserve has pulled out all the stops in recent years, leaving the U.S. with a near zero interest rate policy since December 2008. With U.S. economic growth remaining lackluster, the debate rages on whether the Fed will embark upon another round of bond-buying in 2012, widely known as quantitative easing.

Will E.U. Banking Crisis Hit U.S.?
The Washington Post | December 22, 2011
Experts are trying to determine the effect that ailing European banks could have on the U.S. economy.

Mortgage Rates for 30-Year U.S. Loans Decline to Record Low
The Washington Post | December 22, 2011
Mortgage rates for 30-year U.S. loans dropped to the lowest level on record amid signs the housing market may be set for a turnaround.

Fitch: US could lose AAA rating by end of 2013
HousingWire | December 22, 2011
The United States could lose its AAA sovereign debt rating by the end of 2013 if policymakers fail to make inroads in cutting the federal deficit in the next year and a half, Fitch Ratings said Thursday.

When Should a Small Business Hire a Finance Chief?
The New York Times | December 22, 2011
A reliable financial officer can free a chief executive to focus on other parts of the firm once a company’s revenue reaches a certain point, some C.E.O.’s say.

From the National Association of Realtors®:

10 Cities Where List Prices Soared Last Month
Fewer cities are reporting year-over-year list price declines, “suggesting a growing optimism on the part of sellers about 2012 market conditions,” according to Realtor.com.

Distressed Properties Continue to Hamper Other Sales
Distressed sales are making it difficult to appraise non-distressed properties, a new survey finds.

From our house to yours, we wish you all a Merry Christmas and a joyous and prosperous 2012!

  Deb and I at Ecola

 

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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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