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Real Estate News Today 5-15-2012

15 May

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

Shadow Inventory: 46 Months to Clear Distressed Housing Supply
DSNews | May 14, 2012
It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data.

Lawmakers Move to Expand Mortgage Protection for Military
HousingWire | May 14, 2012
Reps. Elijah Cummings, D-Md., and Bob Filner, D-Calif., plan to submit an amendment to a defense spending bill being considered by the House this week.

Steps Unclear in Builders’ Race to Top
The Wall Street Journal | May 14, 2012
Record-keepers for skyscrapers are struggling to keep up as builders around the world create ever taller towers, stretching everything from the limits of architecture itself to the definition of a spire.

Dimon’s Place on Fed Board Renews Conflict-of-interest Concerns
The Seattle Times | May 14, 2012
The JPMorgan CEO, who disclosed a $2 billion trading loss by his bank last week, is one of three bankers on the board of the Federal Reserve Bank of New York, which oversees institutions such as his.

Newport Beach Mansion, Once Listed for $57 Million, Sells at Auction
The Wall Street Journal | May 14, 2012
An unfinished, 16,600-square-foot mansion in Southern California once listed for $57 million has sold at auction for just $18.5 million, according to the property owners’ lawyer.

NAR Reports Members’ Income Rose for First Time Since 2002
DSNews.com | May 14, 2012
For the first time since 2002, the National Association of Realtors (NAR) reported that income for its members (REALTORS®) increased in 2011.

Consumer knowledge of credit leaves a lot to be desired
HousingWire | May 14, 2012
Americans know more about credit than they did last year, but they’ve still got a lot to learn. The results of a survey released by the Consumer Federation of America revealed a jump in consumer knowledge about which companies collect credit information and how to check it, but a continued lack of knowledge about how costly low scores can be.  (This article almost gets to the point: Where can Joe Consumer get a better education about their credit score and how credit works?  Find a knowledgable and experienced loan officer who can answer your questions and educate you.  It’s well worth the effort and can save you thousands of dollars if you manage your credit well. ~Anthony)

Make Sure Selling Incentives Don’t Break the Rules
RealtorMag | May 14, 2012
Some housing deals are coming with sweet incentives for the real estate agents who can bring in a buyer, everything from big bonuses to fancy cars. But if you’re not careful, you might get in trouble for steering, some real estate professionals warn. 

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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