Today’s Real Estate News 4-2-2012

02 Apr

I got more feedback from all of you on the article about paying the car loan before the home mortgage, thanks to everyone who responded!  Some of the feedback:

-“I agree with you.  Pay something. Communication is King”
-“I can’t imagine prioritizing a car loan over a mortgage. Of course, I drive a 10-year-old Subaru, so maybe I don’t prize my ride as much as some people.”
-“If you don’t pay your car payment for three months the repo man will haul it away, but if you don’t pay your mortgage payment it can take 3 to 5 years before you have to leave your home.”

If you missed it, here is the article Forget the Mortgage, Consumers Pay Car Loan First

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

Expectations Rising for Housing Market’s Spring Season
USA Today | April 1, 2012
The spring home-selling season could be the strongest in years and may foreshadow which markets will lead a battered housing industry in an anemic recovery, economists say.

What’s in a Surname?
National Geographic | March 30, 2012
America is a nation of Smiths, Johnsons, and Sullivans – but also of Garcias and Nguyens. Zoom in on the map below to see what surnames proliferate in your part of the country.

Regulatory Uncertainty Puts Ellie Mae in Sweet Spot
HousingWire | March 30, 2012
The growing economic and regulatory demands placed on lenders is changing the process of mortgage origination.

One World Trade Center Hits 100 Stories, Helped by Funny Math
The Wall Street Journal | March 30, 2012
The steel skeleton of One World Trade Center reached 100 stories this week.

Buy New or Tear Down?
The Wall Street Journal | March 30, 2012
Unhappy with choices in new-home developments, a reader considers buying an older home and tearing it down to build what she wants.

The Mobile Home Zillow Priced at $357,000
HousingWire | March 30, 2012
How much would you pay for a manufactured home in a mobile home park? $90,000? What if it was in a nice area in Sunnyvale, Calif.? Maybe $129,000? That happens to be the listing price. (Another look at how Zillow seems to have some trouble at times with data.  That said, I had an agent tell me once that at the very least Zillow does provide some visibility to the consumer of the housing market, and it creates interest in home-buying.  Do you have any Zoughts you’d like to Zhare regarding Zillow? (:-)  Let me know at )

Home Owners Planning Remodeling Projects This Year
Realtor Magazine | March 30, 2012
Home owners say they’ll spend about $3,500 this year sprucing up their house. So how do they plan on spending it?

Construction Lenders Step Up Competition in Flight to Safety
MultiFamily Executive | March 28, 2012
The construction debt market is heating up, though much of the activity is concentrated on a continued “flight to safety” by financiers. (Note: This article seems to focus primarily on development and commercial lending rather than single family construction loans. ~Anthony)

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
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