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Real Estate News Today 1-30-2012

30 Jan

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

Michigan, Ohio Lawmakers Propose Large-Scale Demolition
DSNews | January 27, 2012
With vacant and deteriorating properties taking a toll on communities throughout Ohio and Michigan, lawmakers from the two states are proposing large-scale demolition as a means of easing the burden of these problematic properties. (Is this the answer?  I don’t know what the answer is, but it’s incredible to me that communities would pay to have these homes ripped down.  Don’t get me wrong, I understand the reasons why they’re looking at demolition, it’s just amazing to me that this is what we’ve come to. Check out our Stewart Title Spokane Facebook page or my discussion on LaunchPad for more of my thoughts on this. ~Anthony)   

Housing Remains a Buyer’s Market
The Wall Street Journal | January 29, 2012
A majority of Americans recently surveyed say now is a good time to buy a home. That’s no surprise, given that record-low mortgage interest rates and bargain home prices are boosting affordability.

Processing Delays Manifested: 39% Fewer Foreclosure Starts in 2011
DSNews | January 27, 2012
The number of foreclosure actions initiated in 2011 was down 38.7 percent compared to 2010, according to a new report from Lender Processing Services (LPS).

American Economy isn’t Truly Healthy Yet, But it’s Healing
The Washington Post | January 27, 2012
The American economy may not be truly healthy yet, but it’s healing.

Consumer Bureau Reviewing Real Estate Appraisal Fee Disclosure
Los Angeles Times | January 26, 2012
Some appraisers are being paid less than half the fee, while the balance flows to an appraisal management company.

The Housing Recovery that Wasn’t
CNN Money | January 30, 2012
The evidence for a recovery is compelling, but optimists should actually be watching rising interest rates.

Freddie Mac Betting Against Struggling Homeowners
NPR | January 30, 2012
Freddie Mac has invested billions of dollars betting that U.S. homeowners won’t be able to refinance their mortgages at today’s lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

It Has a Fancy Name, but Will It Get Tough?
The New York Times | January 29, 2012
President Obama told the nation last week that he was convening a task force to investigate the abusive practices in the mortgage industry that led to our economic woes. Both lending and the practice of bundling loans into securities will come under scrutiny, he said, adding: “This new unit will hold accountable those who broke the law, speed assistance to homeowners and help turn the page on an era of recklessness that hurt so many Americans.”

Obama Administration Expands Aid for Delinquent U.S. Homeowners
Bloomberg | January 28, 2012
The Obama administration, seeking to help more homeowners lower their interest rates and shed mortgage debt, will relax the rules on a federal loan-modification program and triple its incentives to banks.

From the National Association of Realtors®:

First-Time Buyers More Willing to Compromise
First-time home buyers are coming with a big wish list to their home shopping, but when it comes down to it, they’d rather live small than large.

Will High Rents Push People to Buy Homes?
As rents rise, housing analysts believe more apartment tenants will look to own.

 

Anthony Carollo

 

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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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