Real Estate News Today 4-13-2012

13 Apr

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

Could Seattle Put on a World’s Fair Today?
Association of Washington Business* | April 6, 2012
On April 21, 1962, the Seattle World’s Fair opened. The “Century 21 Exhibition” ran for six months, drew 11 million visitors, turned a profit and left the Northwest with a wonderful Seattle Center.  A half century later, many of the fair’s landmarks remain, and the Center’s 73-acres is a gathering place for people from all walks of life. It is Seattle’s Central Park. (Terrific perspective here, and Spokane’s 1974 Expo is mentioned as well.  I’d wager that regulations and laws as they are written today would not allow us to redevelop an old railyard in Spokane into a green grass Riverfront Park, to put a carrousel 20 feet from the water, gondolas over the falls, or most of the amenities we love about the park. ~Anthony)

Deadline April 16 to Give Feedback on Proposed New HUD-1
Just two years after HUD revised the HUD-1, the new regulator in charge of RESPA is creating new mortgage disclosure forms. A new GFE and HUD-1 are in the works, but you have a say in the process.

In Lucky Housing Markets, Bidding Wars Are Back
BusinessWeek | April 12, 2012
Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders. Their $270,000 proposal in February came with a family portrait and a letter introducing the couple, their eight-month-old daughter, Harper, and their desire to build a family in the Renton (Wash.) house with a yard backing onto a woody hillside.

Fed Officials Differ on Need to Keep Rates Low to 2014
Bloomberg | April 12, 2012
Federal Reserve officials widened a rift over a commitment to keep rates near zero through late 2014 as an unexpected increase in claims for jobless benefits added to evidence of a weakening labor market.

Inspector General Hits Obama Admin’s ‘Hardest Hit’ Housing Program
The Wall Street Journal | April 12, 2012
A $7.6 billion Obama administration program that targets areas especially suffering from the housing crisis is falling short, with the government spending only about 3% of money set aside for “underwater” mortgage borrowers and other problems, a watchdog report said.

Why Today is the Time to Buy a Home
The Washington Post | April 12, 2012
If you have the means, run to the nearest for-sale property and buy, buy, buy. Here’s why.

Bank of America CEO Moynihan must Testify in MBIA Lawsuit
Reuters | April 12, 2012
A New York judge has ruled that Bank of America (BAC.N) CEO Brian Moynihan must testify in a lawsuit brought by bond insurer MBIA Inc.(MBI.N) which claims the bank fraudulently induced it to insure risky mortgage-backed securities.

Flood of Foreclosures to Hit the Housing Market
CNN Money | April 12, 2012
The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved.

*I originally found this in the Journal of Business so thanks to them for printing it in your paper this week; though I wasn’t able to link to it online without a username and password.

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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