Real Estate News Today 4-26-2012

26 Apr

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

U.S. Homeownership Hits Record Low: Gallup
HousingWire | April 25, 2012
The 62% of Americans who say they own their own home marks a new low since Gallup began tracking self-reported homeownership in 2001.

On Refinancing, We Might Need to Wait
The Wall Street Journal | April 25, 2012
Should the Obama administration’s new slogan on housing be, “Well, I guess we’ll have to wait a little bit?”

Geithner Says Economy Faces Risk From Europe Crisis, Iran
Bloomberg | April 25, 2012
Treasury Secretary Timothy F. Geithner said the U.S. faces risks from the crisis in Europe while the confrontation with Iran has helped drive up oil prices.

Dodd-Frank’s ‘Qualified Mortgage’ Was Intended to Be Broad
American Banker | April 25, 2012
One of the most important regulatory decisions currently facing the Consumer Financial Protection Bureau is how to define the characteristics of a “qualified mortgage.” This decision will have an enormous impact on the mortgage markets, and will ultimately determine the types of mortgages generally available in the United States, and the minimum qualifications for those seeking to obtain a home loan.

Lenders Launch Lobbying Effort Over Definition of ‘Safe’ Mortgage
Fox Business | April 25, 2012
Mortgage lenders have launched at frenzied round of lobbying over one of the major issues confronting financial regulators in the wake of the 2008 financial crisis — the new legal definition of a “safe,” desirable mortgage.

Housing: Bottom, Reversal or Just Noisy Numbers
CNBC | April 25, 2012
Unemployment has been easing, mortgage delinquencies falling, and affordability is off the charts. That means housing should be bouncing back with verve and vigor this Spring, except it’s not.

Thirteen Ways to Sell Your Home in 2012
24/7 Wall Street | April 24, 2012
The traditional spring-summer home-buying season has begun. The national housing market remains brutal, affected by high inventory, high foreclosure rates and a historically high level of underwater mortgages. Without a doubt, it is a buyer’s market. But is there anything sellers can do to get the best price for their house and in the shortest amount of time?  (There are some worthwhile points made in here for sellers. ~Anthony)

Detroit Weighs Plan to Let Vacant Homes Burn
Realtor Mag | April 26, 2012
A series of arson fires in Detroit is setting dozens of vacant buildings and homes ablaze. Firefighters, meanwhile, have a controversial proposal on the table: Let the vacant homes and buildings burn to help trim city costs, reports. (This seems worse to me than tearing them down.  If you read the article you’ll see that Detroit currently has a huge arson prolem.  This seems to translate into “If you’re sick of looking at that vacant house across the street, torch it and no one will stop you.” ~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

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


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