Real Estate News Today 2-8-2012

08 Feb

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

How ‘Shadow Inventory’ Is Killing the Housing Market
Time | February 8, 2012
Recently, there have been lots of positive signs coming out of the real estate market. Foreclosure rates are down, housing starts are up, and homes have appreciated in value in some markets for the first time since 2006.

Fannie Mae: Outlook for Home Prices Rises Again
The Wall Street Journal | February 7, 2012
The consumer outlook for U.S. home prices improved again in January, extending a recent upward trend in housing market sentiment, according to mortgage market firm Fannie Mae.

What Happens When You Walk Away From Your Home?
Yahoo Finance | February 7, 2012
Does it make sense to keep paying a massive mortgage, knowing that it might be decades before a home regains its prior value? Or is that akin to – as columnist James Surowiecki recently wrote in the New Yorker – “setting a pile of money on fire every month”? (The author seems to suggest walking away from your home loan is a simple business decision. While he does cover the moral question of strategic default, it seems to me he disregards it as an issue to be considered.  I would strongly disagree with that theory. Thoughts? ~Anthony)

Fannie Mae Now Accepting Online Offers for REOs
DSNews | February 7, 2012
Fannie Mae announced Tuesday that it has expanded its online system to accept purchase offers for all its REOs listed for sale.

Bernanke-Led Economy Shows Critics Wrong About Fed
Bloomberg | February 7, 2012
The numbers are proving Federal Reserve Chairman Ben S. Bernanke’s critics wrong.

Obama Calls on Tax Breaks for Small Businesses
The Wall Street Journal | February 7, 2012
President Barack Obama asked Congress to support tax breaks for small businesses Tuesday to help give entrepreneurs a “leg up” in the economy.

Republicans Demand Accounting Change of Fannie Mae Bailout Costs
Reuters | February 7, 2012
The U.S. House of Representatives voted to require the Obama administration to more fully incorporate Fannie Mae and Freddie Mac into its annual budget.

Independent Lenders Must Establish Anti-Money Laundering Programs
DSNews | February 7, 2012
The Financial Crimes Enforcement Network (FinCEN), established in 2009 by the Obama administration to investigate financial crimes, is expanding its reach.  (I included this one because it looks like this will put quite a burden on independent lenders and I wanted your thoughts about that; but also because I’m familiar with “flipping” a property but I’ve never heard of never “flopping”.  Anyone care to educate me? ~Anthony)

From the National Association of Realtors®:

More Deals Falling Through
A third of real estate professionals in a recent survey say their contracts were canceled before making it to the closing table.

For Renters, Market Likely to Get Pricier
Rising demand and a tightening supply is continuing to force both commercial and residential rents upward.

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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