Real Estate News Today 12-27-2011

27 Dec

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

Decrying Wall St. greed is the easy part
The Boston Globe | December 26, 2011
FOR MOST Americans, Friday afternoons are filled with positive anticipation of the weekend. In Washington, it’s where government officials dump stories they want to bury. Good news gets dropped on Monday so bureaucrats can talk about it all week. When the Securities Exchange Commission chose a recent Friday to announce a lawsuit against six former Fannie Mae and Freddie Mac executives, it wasn’t because the Obama administration wanted to draw attention to the action. (This is an excellent editorial written by John E. Sununu ~Anthony)

Study Finds 38% of Homes Purchased in 2011 Bought with Cash
DSNews | December 23, 2011
Despite record low mortgage rates, 2011 has seen a surprisingly high level of cash home purchases, according to the real estate research firm Hanley Wood Market Intelligence.

Tax Revenue: Housing Bust Hits Home for Cities
The Seattle Times | December 25, 2011
The nation’s housing crisis is 5 years old, but the worst of the reckoning for local governments might only now be at hand.

Banks Still Waiting on Most Dodd-Frank Rules
The Washington Post | December 25, 2011
A year and a half has gone by since the Dodd-Frank financial reform act was signed into law, but barely a quarter of the rules in the legislation have been finalized, though federal regulators are rolling out key components of the bill.

Home Loan Options Abound, Despite Lack of Info About Availability
The Los Angeles Times | December 25, 2011
Looking beyond gloomy popular assumptions probably will yield multiple options for qualified applicants with little or no cash to put down, credit scores as low as 580 or high debt levels.

Payroll Tax Cut May Hurt Housing Market
The Los Angeles Times | December 23, 2011
To pay for the two-month payroll tax cut, a small fee will be levied for a decade on all mortgages sold to Fannie Mae and Freddie Mac. That also makes it harder to overhaul the housing finance system.

From the National Association of Realtors®:

Banks Lay Groundwork for Commercial Comeback
With demand for commercial real estate looking up, financial institutions are preparing for an improved market next year.

23% Off? 8 Cities With Big Housing Discounts
Home buyers can snag big bargains on houses in some markets. Find out which cities offer the biggest markdowns.

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

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


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