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Real Estate News Today 2-17-2012

17 Feb

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

Obama Proposes Extending Tax Waiver on Mortgage Debt Forgiveness
DSNews | February 16, 2012
Obama’s FY2013 budget proposal includes an extension of the Mortgage Forgiveness Debt Relief Act of 2007.

Murky Land Sale Puts Woman’s Home at Risk
The Tampa Tribune | February 16, 2012
Imagine buying a house then finding out years later that someone else claims to own the land under your home. That’s what happened to a St. Petersburg woman. How it all happened illustrates how hectic property closings were during the housing boom and why it’s so important to buy title insurance.

Bernanke Says Health of Community Banks Improves
HousingWire | February 16, 2012
Federal Reserve Chairman Ben Bernanke said community banks are improving. The long maligned sector has accounted for a majority of bank failures since the 2008 financial crisis. Of the 392 bank failures between January 2008 and September 2011, 326 were community banks, according to the Federal Deposit Insurance Corp.

US Housing Among Most Attractive Assets
CNBC | February 17, 2012
The housing market in the south of the United States is among the most attractive asset classes in the world, Marc Faber, the editor of the Gloom Boom & Doom Report, told CNBC on Friday, because while homebuilder stocks had rallied, property prices hadn’t moved much.

Morgan Stanley Predicts REO Rental Program Will Create 1.8 Million Jobs
HousingWire | February 16, 2012
The government’s program to turn foreclosed Fannie Mae, Freddie Mac and Federal Housing Administration properties into rentals “is here to stay,” according to housing analysts at Morgan Stanley. 

The curious case of the San Francisco foreclosure audit
HousingWire | February 16, 2012
Earlier this week, I used my personal Twitter account to ask some questions involving a recent “audit” of foreclosures commissioned by the assessor-recorder in San Francisco.

Foreclosure was expected today on fire-destroyed mansion
Spokesman-Review | February 17, 2012
Arson investigators are combing through the debris of a million-dollar riverfront estate that was engulfed by fire Thursday morning as lenders prepared to hold a foreclosure on the home.

From the National Association of Realtors®:

Foreclosures Pick Up Pace, Banks Work Through Glut
The “frozen up foreclosure process is beginning to thaw,” says RealtyTrac‘s CEO. Find out why it could be an important step for the housing market recovery.

A New Breed of Investors Steps Forward
“Mom and pop investors” are trying to capitalize on a depressed real estate market in the hopes of one day being able to cash in.

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
acarollo@stewart.com

 

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

 

www.StewartSpokane.com

 

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