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Real Estate News Today 12-30-2011

30 Dec

You didn’t see a Today’s News yesterday because my wife and I enjoyed a wonderful night at the historic and beautiful Davenport Hotel in Spokane and then a day of downtown leisure supporting the local economy.  (:-)

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

Jobless Claims in U.S. Hit Three-Year Low in Past Month
Bloomberg | December 29, 2011
Fewer Americans filed applications for unemployment benefits over the past month than at any time in the past three years, a sign the U.S. labor market is on the mend heading into the new year.

36% of Public Approves Strategic Default as an Option
HousingWire | December 29, 2011
According to a Pew Research Center survey, 36% of Americans said it is acceptable to stop making mortgage payments, even if it is affordable.

Economists Don’t Foresee Home Price Appreciation Until After 2013
DSNews | December 23, 2011
Home prices in the U.S. are expected to post a decline of 1.57 percent for the fourth quarter of 2011, after falling 0.4 percent through September, according to more than 100 economists and housing experts surveyed by Zillow.

Sales of U.S. Homes Beat the Forecasts
Bloomberg | December 29, 2011
The number of Americans signing contracts to buy previously owned homes rose more than forecast in November as falling prices and low borrowing costs boosted demand.

Economy Gaining Momentum, Housing Shows a Pulse
Reuters | December 30, 2011
New U.S. claims for jobless benefits rose last week but the underlying trend pointed to an improving labor market, while regional factory data showed the economy gaining momentum as the year ended.

Buyers, Sellers Continue to Butt Heads on Home Prices
HousingWire | December 30, 2011
Most Americans feel now is a good time to buy a home, but those who want to sell are having difficulty finding buyers at desired prices, causing seller sentiment to fall to record lows.

FHA Says: Flip that House
CNNMoney | December 29, 2011
Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration.

Fannie, Freddie to Raise G-fees in April
HousingWire | December 30, 2011
The Federal Housing Finance Agency will increase guarantee fees on single-family mortgage-backed securities charged by the government-sponsored enterprises by 10 basis points effective April 1, 2012, in response to the new funding mechanism for the payroll tax cut extension passed by Congress.

How Low Can Rates Go?
The New York Times | December 29, 2011
IF your New Year’s resolutions include buying a house or refinancing, the Federal Reserve has you covered. It has committed to keep long-term interest rates low through next year, so a 30-year mortgage will be pegged about where it is now – 4.32 percent in New York – at least through spring, said Frank E. Nothaft, the chief economist at Freddie Mac.

From the National Association of Realtors®:

Gov’t Reviews Proposals for Foreclosure-Rental Program
The Federal Housing Finance Agency received more than 400 proposals on suggestions of what it should do with the high number of foreclosures that are plaguing many markets.

Distressed Commercial Properties Level Off
Are better days ahead for commercial real estate? A new report shows the number of distressed commercial properties is flattening out.

Rental Boom Takes Shape
“Rents are rising, vacancies are falling, household formations are growing and rental supply is limited,” according to a new report showing bright days ahead for the multifamily housing market.

Safest Places to Live
Find out where the most “secure” big and mid-size cities are in the country.

 Anth_Deb at the Davenport  

 

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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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