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Real Estate News Today 5-24-2012

24 May

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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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