Real Estate News Today 2-2-2012

02 Feb

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

What Obama’s Housing Plan Means for You
The Washington Post | February 1, 2012
Many people are wondering about President Obama’s refinance plan, announced Wednesday, and a new program that would try to make thousands of vacant homes available for rent.  Is this your chance to refinance and take advantage of the historically low interest rates? Will this really help the housing market — and the economy? Let’s walk through it.  (It’s a good rundown of his proposal which would still need to be approved by Congress.  Political theatrics or real help?  You decide. ~Anthony)

Where the Jobs Are, by 2020
The New York Times | February 1, 2012
A new report from the Bureau of Labor Statistics estimates that the country will add 5.6 million health care and social assistance jobs in the current decade.

Senate Joins House in Effort to Cut Pay at Fannie, Freddie
HousingWire | February 1, 2012
A Senate bill introduced Wednesday would place employees at Fannie Mae and Freddie Mac under a federal pay scale, similar to legislation already in the works in the House.

Fannie Mae Partners Seek Bulk Buys in Cities Headed for Recovery
BusinessWeek | February 2, 2012
Fannie Mae’s plan to convert foreclosed homes into rentals through sales to investors hinges on offering concentrated packages of properties in areas such as Florida, Arizona and Southern California where a real estate recovery may happen soonest, according to prospective investors.

The CBO Knows its Basic Forecasts are Wrong
The Washington Post | January 31, 2012
Speaking of the Congressional Budget Office, some new research out of the St. Louis Fed has raised questions as to the agency’s basic competence.

PulteGroup Reports Fourth-Quarter Profit as U.S. homebuilder Reduces Costs
Bloomberg | February 2, 2012
PulteGroup Inc. (PHM), the largest U.S. homebuilder by revenue, reported its first quarterly profit since June 2010 as the company incurred lower writedowns, increased prices and cut costs.

MBA: Tightened lending standards create Groundhog effect
HousingWire | February 1, 2012
The U.S. mortgage market will linger in a Groundhog Day type of scenario unless the qualified-residential mortgage and qualified mortgage rules outlined in Dodd-Frank are tweaked and defined, David Stevens, president and CEO of the Mortgage Bankers Association, said.

From the National Association of Realtors®:

Investors Jump in to Turn Foreclosures into Rentals
“We’re starting to see this as a billion-dollar opportunity to buy rental housing,” says one private equity firm.

Where List Prices Have Fallen the Most in a Year
Overall, the median list price has been on the rise nationally. But not every market has seen an increase. Find out which cities have seen the biggest drop in median list price year-over-year.

Americans Rank Best, Worst Celebrity Neighbors
More than 40 percent of Americans say they wouldn’t want a celebrity as a neighbor, and they really wouldn’t want to live anywhere near this reality TV show cast, a Zillow survey finds.  (Go ahead and read the article.  You know you want to! ~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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