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Monthly Archives: May 2012

Real Estate News Today 5-31-2012


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

Fannie, Freddie easy prey for cash-hungry Congress
Reuters | May 30, 2012
It’s not that the U.S. housing industry believes college students should be hit with a doubling of their student loan rates on July 1. It just doesn’t want to see mortgage costs rise in order to help them out. (Once again, they’d like the housing industry to subsidize the solution. ~Anthony)

Pending Home Sales Dropped in April to Lowest Level in Four Months
The Washington Post | May 30, 2012
Still, sales are well ahead of last year’s level for the same month, a sign that a slow recovery continues.

Demand for Foreclosures Triples for Homebuyers: Realtor.com
DSNews | May 30, 2012
The stigma associated with foreclosure purchases has apparently faded, with interest in foreclosures nearly tripling in the past two years, according to a survey released Wednesday by Realtor.com.

How to Stop Sleeping With Your Smartphone
The New York Times | May 30, 2012
Leslie A. Perlow, a Harvard Business School professor, thinks she’s found a way to give American workers their lives back. In her new book, “Sleeping With Your Smartphone: How to Break the 24/7 Habit and Change the Way You Work.”

Three Varied Tools for Blogging With a Hand-Held
The New York Times | May 30, 2012
There are several apps that allow bloggers to post with their mobile device, but some programs are better than others.

Housing Market Crawls Back
The Wall Street Journal | May 29, 2012
Housing prices across the U.S. fell in March, but not as much as in earlier months, according to a report Tuesday that offered fresh evidence of a real-estate market on the mend.

Real Estate Agents Inch Up in Public Opinion
RealtorMag | May 30, 2012
Real estate professionals rank higher than lawyers, business executives, and advertising practitioners when it comes to the public’s perceptions of honesty and ethics, according to a recent Gallup poll. (Good news- agents are climbing up in the ratings for the first time in years! ~Anthony)

 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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Real Estate News Today 5-30-2012


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

Largest March to April Listing Price Increase – And Year-Over-Year Listings Dropped in 141 of 146 Metros
Ted C. Jones Blog | May 30, 2012
Realtor.com, which has more than 4.2 million active residential listings, each month tallies the top 10 metros for the largest increase in median listing price.  Changes in asking prices are typically correlated with changing market conditions, and once again these indicate a recovering housing market.

Does Case-Shiller Show a Market Bottoming Out?
The Wall Street Journal | May 29, 2012
Tuesday’s S&P/Case-Shiller home-price indexes show a market in which U.S. home prices are still falling, but not as dramatically as in previous months. (Here is a related article:
Home Prices Hit New Lows in 5 Cities from The Washington Post ~Anthony)

Getting the Best Refinancing Deal
The Wall Street Journal | May 25, 2012
There has never been a better time to refinance your mortgage. Rates are at record lows. The government is devising new programs to help homeowners. The economy and job market are improving, albeit slowly.

City Law Freezes Foreclosures in Washington DC
HousingWire | May 29, 2012
The Washington, D.C. foreclosure system remains frozen 18 months after the city council passed a law that made it possible to void a future filing.

Expiring Mortgage Debt Relief Act Fuels Strategic Default: Survey
DSNews.com | May 29, 2012
A foreclosure prevention agency found that the pending expiration of the Mortgage Debt Relief Act of 2007 is prompting struggling homeowners to strategically default on their loan.

DEBUNKED: Walmart Does Not Make Your Home Value Go Down
Business Insider | May 29, 2012
Wal-Mart opponents have long claimed that the store lowers home values in the surrounding area. The argument is that the bright lights, traffic and pollution a Walmart brings hurts the neighborhood. (Whether you are a fan of Walmart or not, you have to admit they are huge: 16 Facts About Walmart That Will Blow Your Mind from Business Insider ~Anthony)

Gunman Holds Brokerage Hostage
RealtorMag | May 29, 2012
A gunman held several real estate professionals hostage at Prudential Executive Group Real Estate office in Valparaiso, Ind., on Friday in a stand-off with police, before the gunman ended up shooting and killing himself, police said. 

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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Real Estate News Today 5-29-2012


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

Top Cities for Recent College Graduates
Ted C. Jones blog | May 29, 2012
What do you get when you cross information and statistics from www.careerbuilder.com (the largest online job site in the U.S.) and www.apartments.com  (a premier national online apartment guide and relocation resource) and then throw into the mix recent college graduates?   You get the fifth annual list of the best 15 cities for recent college graduates that combines data from job availability (and incomes) and rent costs. 

Housing Prices Show Signs of Stability
The Wall Street Journal | May 28, 2012
Good news for real-estate agents: In a recent Gallup poll of trustworthiness, they ranked higher than lawyers, a turnaround from a 2008 survey. And they continue to leave telemarketers, members of Congress and stockbrokers in the dust.

New-housing Numbers Indicate Market Goes Beyond Investors
Star-Telegram | May 28, 2012
For the latest sign of a U.S. housing rebound, Toll Brothers Chief Executive Douglas Yearley points to Hoboken, N.J.: A couple torn between two condos last month at the sales office for its Hudson Tea complex decided to think about it over lunch. When they returned an hour later, both units were gone.

After Housing Crash, Some Banks Become Landlords
St. Louis Post-Dispatch | May 28, 2012
Is the faucet leaking, or do you need to mail in a late rent check? You might just end up placing a call to your local bank.

Greece could decide fate of U.S. economy
The Philadelphia Inquirer | May 27, 2012
Will Greece exit the eurozone? Hard to believe, but the answer to this question could determine the fate of the U.S. economy this year. (This article -written by Moody’s chief economist Mark Zandi– brings the whole Greek question down to a level that my small mind can understand. ~Anthony)

Market Stabilizing? Home Inventories Fall by Nearly 20%
RealtorMag | May 25, 2012
Home inventories of for-sale listings continue to fall, which may help raise overall housing prices as demand picks up.  (Curious which northwest city lands at # 4 for falling inventory? ~Anthony) 

Commercial Real Estate Improves, Multifamily Strong
RealtorMag | May 25, 2012
Shaking off a prolonged impact from the recession, fundamentals are gradually improving in all of the major commercial real estate sectors, according to the National Association of REALTORS® quarterly commercial real estate forecast(Another northwest city makes the top 3 in the multifamily sector!  Nice! ~Anthony)

Golf Coach Dave Pelz’s Big Backyard
Wall Street Journal
Short-game golf coach Dave Pelz has created a 2½-acre home wonderland for practicing pitching, chipping and putting.  (Wow, this guy has more extra time and extra money than I can imagine.  ~Anthony)

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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Real Estate news Today 5-25-2012


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

McGraw to give 25 homes to members of military
Yahoo! News | May 24, 2012
Tim McGraw will be saluting veterans in a big way while on tour this summer. The country music superstar is giving away 25 mortgage-free houses — one for each stop on his upcoming “Brothers of the Sun” tour with Kenny Chesney — to wounded or needy service members.

Alaskan crews gear up to tackle Japan tsunami debris
Reuters | May 24, 2012
Cleanup workers will soon attack a jumble of debris from Japan’s 2011 tsunami that litters an Alaskan island, as residents in the state gear up to scour their shores for everything from buoys to building material that has floated across the Pacific. (This garbage is already hitting this US, with plenty of it headed down to the 3 West coast states of California, Oregon, and Washington.  Read on to find about the efforts to deal with it. ~Anthony)

Top 10 Places to Buy Foreclosures According to RealtyTrac
HousingWire | May 24, 2012
In its May 2012 foreclosure newsletter, RealtyTrac named the top 10 places to buy foreclosures in 2012.  (Wondering which Pacific NW city makes the list?)

Speeding Up Short Sales
The New York Times | May 24, 2012
Starting June 15, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers a final decision within 60 days.

Commercial Real Estate Price Recovery Slows
HousingWire | May 24, 2012
The rebound in commercial property prices slowed over the first three months of 2012, according to a new report from Moody’s Investors Service and Real Capital Analytics.

What Would Greek Exit Mean for the U.S. Economy?
Reuters | May 24, 2012
Uncertainty over the fate of the euro currency is already dampening U.S. economic growth and any significant worsening of the crisis would deal a blow to a recovery that is gradually gathering steam.

Agent Kidnapped, Threatened With Steak Knife
RealtorMag | May 24, 2012
A real estate agent in West York, Pa., was kidnapped by a man who threatened her with a steak knife and robbed her following a showing of a home for-sale, police say. (Many car remotes will open the driver’s door with one click, and it takes two clicks to open the passenger door.  This would be why. ~Anthony)

5 Worst Mobile Behavior Offenses
RealtorMag | May 24, 2012
Mobile manners are getting worse, according to 81 percent of 2,000 Americans recently surveyed by Intel. Ninety-two percent of those surveyed said they wish the public would get more respectful with their mobile etiquette. Could you be one of the offenders?

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

 

Real Estate News Today 5-24-2012


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

McMansions Fuel New Home Sales
The Wall Street Journal | May 23, 2012
Home builders say they’re getting a boost from wealthy customers’ restored demand for extra-large properties. (I can’t imagine that this is so common that it affects the national numbers enough to support the above headline.  But then everything you read in the news is true, so there you go, ~Anthony)

Sales of New Homes Up 3.3% in April
The Washington Post | May 23, 2012
Sales of new single-family houses increased 3.3 percent in April from a 332,000-unit pace in March, according to estimates released jointly Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development

Could Fannie and Freddie Pay Back Taxpayers Someday?
The Wall Street Journal | May 23, 2012
Jim Millstein, a former Treasury Department official, has a plan for the government to be repaid on its investment in Fannie and Freddie.

FHFA: Home Prices Rose 0.5% in First Quarter
HousingWire | May 23, 2012
Home prices across the nation rose a modest 0.5% in the first quarter from a year earlier, according to the Federal Housing Finance Agency house price index.

Rio Issues Land Titles to Slum Residents
BusinessWeek | May 23, 2012
Local officials and human rights groups are working to give legal title to tens of thousands of people like, a process that increases their wealth and gives them greater access to credit, as well as peace of mind. (This is a great article and really points to what Stewart Title has believed for years: that critical to developing countries is the opportunity to buy and sell real estate for as many people as possible,  Stewart does that better than any other title company through Stewart Global Solutions. ~Anthony)

George Lucas Strikes Back on Housing Plan for Ranch
RealtorMag | May 23, 2012
Star Wars filmmaker George Lucas is giving up his 25-year fight with residents in Marin County, Calif., over developing his ranch into a digital media production studio. Instead, he now wants to sell the land and have it turned into a low-income housing project. 

Sellers More Willing to Work on Buyer Appeal
RealtorMag | May 23, 2012
Home sellers are more willing to make changes to their home to make it more competitive in the market and more attractive to potential buyers, according to a new survey by Coldwell Banker Real Estate of 700 of its agents nationwide. 

Why Property Price Can Be of Low Importance
Fox Business | May 24, 2012
Too many potential real estate buyers pay way too much attention to short-term price changes. People are so worried that prices might drop a little and feel that maybe they should wait to buy something.  (Do you agree or disagree?  How important is price? ~Anthony)

My apologies for the error in yesterday’s issue of Today’s News.   Fox Business had entitled the article “What Homeowners Have to Disclose to Sellers”, they have since corrected the mistake and it now saysWhat Homeowners Have to Disclose to Buyers“.  (:-)

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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Real Estate News Today 5-23-2012


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

What Homeowners Have to Disclose to Sellers
Fox Business | May 23, 2012
When it comes to certain issues or events in a home, not everything can be swept under the rug.  (If you are looking for an exhaustive list, this is not it.  However, this does a fair job of showing consumers that for the most part, no matter what state they are in, the sellers need to disclose certain property conditions. Interestingly, there are three states where NO disclosure is required by law. ~Anthony)

Large Investors Swim on Their Own
The Wall Street Journal | May 22, 2012
Put off by high fees and disappointing performance of so-called pooled funds, major institutions are building in-house real-estate investment divisions to acquire property directly.

Senators Seek to Remove Bankers From 12 Regional Fed Boards
Bloomberg | May 22, 2012
U.S. Senators Bernie Sanders, Barbara Boxer and Mark Begich introduced legislation today that would remove banking industry executives from the 12 regional Fed banks’ boards of directors.

CBO Report Says ‘Taxmageddon’ Would Throw U.S. Back Into Recession
The Washington Post | May 22, 2012
With tax hikes and spending cuts set to take effect in Jan., economy is likely to contract in first half of 2013.

Refinancing Now: Lower Rates, Fees Coming Soon
CNBC | May 23, 2012
The government is about to make refinancing FHA mortgages more affordable — and potentially easier — for hundreds of thousands of homeowners.

Facebook’s Overnight Millionaires Begin Lavish Spending Spree
Fox Business | May 18, 2012
Facebook’s $104 billion initial public offering on Friday transformed thousands of young people into instant millionaires – as well as a few billionaires – and already the booming luxury market in Silicon Valley is experiencing an upswing.

April Existing Home Sales Up 10 Percent Year-Over-Year – Median Home Price Up 10.1 Percent Year-Over-Year – Yee Haw!
Ted C. Jones Blog | May 23, 2012
As I had written earlier this year, the U.S. housing market is finally turning the corner—and that is amplified in the release of April existing housing sales and prices from the National Association of Realtors®.

Real Estate Executive Attacked With Samurai Sword
RealtorMag | May 22, 2012
The president of a Japanese real estate company was brutally attacked late last week when a man entered his office wielding a samurai sword.

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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Real Estate News Today 5-22-2012


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

Prices for Existing Homes See Strongest Gains in Six Years
The MReport.com | May 22, 2012
Existing-home sales rose to 4.62 million at a seasonally adjusted annual rate in April from a downwardly revised March rate of 4.47 million, the National Association of Realtors (NAR) said Tuesday. Economists had forecast the April sales pace would be 4.66 million. (Breaking news this morning!)

Housing Starts: The Problem with the Government’s Numbers
The Washington Post | May 22, 2012
The government’s monthly report on housing starts, a widely watched indicator of the nation’s economic health, turns out to have some problems. (What an enlightening article!  I was genuinely surprised by this one. ~Anthony)

HUD Multifamily Handbook to Get Update After 20 Years
HousingWire | May 21, 2012
A crucial handbook that provides general guidance for tasks associated with the Department of Housing and Urban Development involvement in multifamily projects will be revised by October.

Why This May Be the Ideal Time to Buy Real Estate
TIME | May 21, 2012
Well, it’s only taken half a decade, but the moribund real estate market is finally starting to show signs of life. If you were thinking about making a move on a piece of property, right now is possibly the best time.

A New Home For Computer Screens: The Face
The Wall Street Journal | May 21, 2012
The rise of Internet-connected smartphones and advances in display-projection technology are accelerating the development of devices that overlay digital images atop a person’s view of the physical world.

BofA Chief Says Dimon Will Do What’s Needed To Cap Losses
Bloomberg | May 21, 2012
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has the experience needed to manage the fallout from trading losses, and market disruptions haven’t been serious, Bank of America Corp. CEO Brian T. Moynihan said today.

Today we have two different views on home price bidding wars.  What has been your experience?  I’d love to hear it at acarollo@stewart.com

House price bidding wars are not making a comeback
HousingWire | May 21, 2012
If you’ve been following real estate news, there are many headlines claiming the price bidding wars are back and buyers are shocked to find themselves competing with other bidders to acquire distressed real estate at reasonable prices. Well, consider this blog post a dose of reality.

Prices Fall in April, 2-3 Bids Per Property: HousingPulse Survey
DSNews.com | May 21, 2012
If the buzz about bidding wars is true, Campbell/Inside Mortgage Finance HousingPulse Tracking Survey reported those accounts did not boost prices in its findings.

 

 

Anthony Carollo 2007 EMAIL  

Check out and LIKE us on Facebook to follow other industry news!  Facebook

Join My List

Find me on:     LinkedIn     Twitter     Facebook

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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