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Real Estate News Today 5-1-2012

01 May

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

Living With Parents is a Drag . . . In Several Ways
The Washington Post | April 30, 2012
The recession has reduced the rate at which Americans set up new homes or apartments by at least half. Although the number of new households has begun to recover over the past year, its growth rate continues to lag behind its historic pace, according to Census Bureau statistics.

Federal Reserve: Banks to Increase Real Estate Loan Exposure
HousingWire | April 30, 2012
Borrower demand for prime residential mortgages is strengthening, causing some banks to anticipate increasing their exposure to such loans over the next year.

Ten Years Later: Erpenbeck Scandal Still Stirs Emotions
Cincinnati Enquirer | April 30, 2012
Ten years ago Charles Mitchell bought his dream home from the Erpenbeck Co. The former Covington police officer and now retired school bus driver spent his life savings on the $205,000 brick house with an attached two-car garage.

Freddie, Fannie Departures Escalate
The Wall Street Journal | April 30, 2012
Concerns are growing about departures at mortgage-finance giants Fannie Mae and Freddie Mac, a situation that some executives argue is making it difficult to manage the companies and their $5 trillion mortgage business.

Must-Have Gadgets for 2012
The Washington Post | April 30, 2012
Here are some of the must-have gadgets that have been creating some buzz. 

REO Prices Increase, Fair Market Prices Drop, Home Values Stabilizing
DSNews.com | April 30, 2012
According to data from Clear Capital, over the last year, REO prices have increased 5.5 percent, while fair market prices dropped 2.9 percent.

Mobile app to mitigate risks for notaries and firms that employ them
HousingWire | April 30, 2012
A new smartphone app by CivilMap aims to mitigate risks involved for notaries and the companies that employ them. In a statement, the creators said the product would be a step forward in organization and legal compliance for notaries.

I include the article below just to highlight what seems to me to be another misleading headline. The reporter suggests with the headline she writes that you and I cannot get a loan if we have less than a 720 score.  If you read the article, you’ll see that is in fact not at all what she is saying. The headline grabs attention, but it doesn’t reflect the facts. If I’m wrong, I’m confident my faithful readers will let me know. 

(:-) ~Anthony

Lower than 720 FICO score? No mortgage for you!
HousingWire | April 30, 2012
A survey released Monday by the Fed told us something we’ve known for a while (well, since the housing bust): Those with bad credit can’t get a mortgage. 

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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