Real Estate News Today 2-1-2012

01 Feb

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

FHFA will pre-qualify investors for bulk REO program
HousingWire | February 1, 2012
Investors who want to acquire and rent out real-estate owned properties from the Federal Housing Finance Agency can begin pre-qualifying for participation in the bulk REO rental program.   

Housing’s Firmer Foundation
The Wall Street Journal | February 1, 2012
Tuesday’s report that prices continue to slump has tempered hopes that the U.S. housing market is finally turning. But right now, the connection between what the S&P/Case-Shiller index says and what is actually going on with housing may be lukewarm at best.

5 Housing Markets Not Sinking (Too Much)
The Wall Street Journal | January 31, 2012
Prices are down in most major cities, but some are faring better than the rest.

CBO Slashes Cost of Fannie, Freddie Over Next Decade
HousingWire | January 31, 2012
Taxpayers will spend another $27 billion between 2013 and 2022 subsidizing Fannie Mae and Freddie Mac, according to the Congressional Budget Office estimates released Tuesday.

Feds Remind Banks to Watch Junior Liens
HousingWire | January 31, 2012
As financial firms sift through senior liens to assess the underlying credit quality, federal regulators are reminding banks to also study junior liens linked to their portfolios.

Foreclosure Claims Dominate CFPB Mortgage Complaints
HousingWire | January 31, 2012
More than 38% of the 2,300 mortgage complaints sent to the Consumer Financial Protection Bureau in December related to loan modification and foreclosure concerns, the largest share in this category.

When the Home Bank Closes
The Wall Street Journal | February 1, 2012
The housing bust means many small businesses can no longer use home-equity loans for funding.

Housing Recovery Seeds Planted, Economist Case Says: Tom Keene
BusinessWeek | January 31, 2012
The housing market may be poised to begin its turnaround in the months to come, according to S&P/Case-Shiller’s Karl Case.

From the National Association of Realtors®:

4 Questions to Ask Before Buying a Foreclosure
Foreclosures can offer big bargains, but buyers need to be careful they don’t get over their heads by purchasing a lemon.  {This article addresses a few of the concerns one should have when buying a foreclosure.  One of my strongest pieces of advice would be get a home inspection since the seller (bank) warrants nothing and the property condition checklist means very little since the bank has no knowledge.  Are there any other issues you can suggest a buyer be concerned with? ~Anthony}  


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


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



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