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Real Estate News 3-9-2012

09 Mar

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

The Washington legislature passed a short sale bill intended to help homeowners in distress, and it is now headed to the Governor.  To see more information on it and other current issues, check out and LIKE the Washington Realtors Facebook page at: https://www.facebook.com/warealtors

House ‘rental’ actually a scam
Spokesman-Review | March 9, 2012
Brooke Bear was surprised when several people stopped by her home interested in renting it.  They referenced the ad she posted on Craigslist, but she isn’t renting out the house; she’s selling it, and she never posted an ad on Craigslist.

U.S. Jobs May Be Headed for Strongest Run Since 2006
Bloomberg | March 8, 2012
Employers probably took on more than 200,000 workers in February for a third straight month, indicating an improving labor market will support the U.S. expansion, economists said before a report today.

Another Investor Sues to Stop Sale of Empire State Building
The Wall Street Journal | March 8, 2012
Another investor is suing to stop the public sale of the Empire State Building, marking the second time in a week that investors have gone to court to halt the process.

Seller-Financing: What You Need To Know
The Wall Street Journal | March 8, 2012
If you’re hoping to sell your business, you may wonder whether to allow a buyer to pay you over time. Owners are increasingly helping to finance the sales of their firms, sometimes as a way to wind down and transition into retirement, as explained in this story, in the Wall Street Journal Thursday. (While the article deals primarily with selling a business, there is some good advice in here for any seller who is financing the deal for a buyer. ~Anthony)

Banks Foreclose on Churches in Record Numbers
Reuters | March 8, 2012
Banks are foreclosing on America’s churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data.

After the Storm, the Little Nest Eggs That Couldn’t
The New York Times | March 8, 2012
A decade ago, Jonnie Worth had her eyes on retiring at age 62. Year after year, she funneled money into her 401(k), first when she worked as an event planner and later when she worked in the private banking department at JPMorgan Chase. But the financial crisis of 2008 swamped Ms. Worth. “Like everyone else, I watched my retirement savings plummet,” she said. “I lost a big percentage of my investments.”

Ghost of Fannie Mae Haunts Canada
Bloomberg | March 8, 2012
The Canadian housing agency’s vulnerability to mortgage defaults has soared nine-fold in 20 years, approaching levels reached by Fannie Mae and Freddie Mac in the U.S. at the height of the housing boom. Canada Mortgage & Housing Corp. says its finances are secure unless the country plunges into deep recession for several years.

Seattle homes below $200,000 gain buyers, not so in other markets
HousingWire | March 8, 2012
Houses priced below $200,000 are receiving more attention in some markets while receiving less in others as borrowers react differently to record-high affordabilty.

Rates Are Trending Downward Still; 15-Year Hits Record Low
DSNews.com | March 8, 2012
Record high-levels of homebuyer affordability continue as rates drop and stay near their 60-year lows, according to Freddie Mac’s Primary Mortgage Market Survey.

 

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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