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Real Estate News Today 3-20-2012

20 Mar

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

U.S. Builders Began Work on Fewer Homes in February, but Permits for New Homes Jumped 5 Percent
The Washington Post | March 20, 2012
U.S. builders started work on slightly fewer homes in February, but they began preparing for what could be the healthiest spring buying season since the housing bubble burst.

Fannie Economist: Mortgage Deleveraging Yet to End
HousingWire | March 19, 2012
Households shed mortgage debt each month for more than one year now, but the deleveraging has yet to end, according to Fannie Mae Chief Economist Doug Duncan.

Home Builder Sentiment Holds Steady at Highest Level in Nearly 5 Years
The Wall Street Journal | March 19, 2012
U.S. home builders’ confidence in the housing market held steady in March after five consecutive monthly gains, keeping sentiment at the highest level in nearly five years as the industry slowly regains its footing after a devastating bust. 

The One Number to Watch for a Housing Recovery
CNN Money | March 20, 2012
If you’re waiting for home prices to go up, then you’re missing signs the troubled housing market has finally turned around.  (This author is right on the money! Though I won’t tell you what the “One Number” is, I have heard several anecdotes lately of multiple offers and even escalating clauses in offers. ~Anthony)

Did Warm Winter Steal Spring Housing?
CNBC | March 19, 2012
As if we really needed a reminder that today’s housing market is still very fragile, the first installment in a slew of housing data to be released this week came in below expectations.

A Troubling Housing Misstep By Boomers
Forbes | March 20, 2012
Who’s falling for reverse mortgages these days? Leading edge baby boomers, aged 62 to 64. They represent more than one out of five (21%) applicants, compared to only about 6% in that age group back in 1999, according to a new report by the MetLife Mature Market Institute. Almost half of applicants were under 70, double the percentage in that age group in 1999.

Home remodeling rises to 2006 mark
HousingWire | March 19, 2012
Residential remodeling rose 11% in January from a year earlier in a seasonally adjusted measure, according to BuildFax. Projects grew to roughly 3 million on an annual basis, up 13% from 2.65 million in December.

Cordray tells credit unions to sound alarm on bad actors
HousingWire | March 19, 2012
Consumer Financial Protection Bureau
chief Richard Cordray told credit unions Monday they do not share in the blame for the excessive practices that caused the housing meltdown. In fact, he praised credit unions that have put mortgage schools together to aid borrowers.  (I am certainly not a banking regulations expert, so I’ve no idea – educate me.  I cannot imagine that CUs get a pass versus banks, but I’m open to the possibility that I’m wrong. I’ve said before and I’ll say it again: the economic crisis we’re in was due to all of America living beyond our collective means
 – which we’re still doing by the way, we’re just doing it differently now via the government instead of home mortgages. ~Anthony)

 

 

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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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Posted by on March 20, 2012 in Real Estate news

 

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