Real Estate News Today 6-4-2012

04 Jun

At Stewart Title of Spokane we are mourning the passing of one of our staff. Cameron Jay Erickson left us in February to become a missionary/hospital pilot in Zambia. He ws killed along with his wife this last weekend in an airplane accident in Zambia.  Please keep the Erickson family in your thoughts and prayers.  Jay’s missions blog can be found here:
Today’s news that may be of interest to you: 

Federal Government Unloads Real Estate
CNN Money | May 31, 2012
The federal government, the nation’s top property owner, said Thursday that it is on track to save $8 billion by the end of the fiscal year by consolidating its real estate holdings and selling off the excess.

Financial Crisis Sends Euro Zone to Tense Endgame
The Washington Post | May 31, 2012
The European Central Bank chief calls the currency union “unsustainable” and says more central control of national finances is needed if it is to survive.

Multiple Offers Make a Comeback in Residential Real Estate
Philadelphia Enquirer | May 31, 2012
Guess what’s back in the real estate vocabulary for many neighborhoods and communities? Multiple offers.

Refinancing Effort Grows, But Levels Still Low for Most ‘Under Water’
The Wall Street Journal | June 1, 2012
The number of homeowners who have refinanced their home loans under a revamped federal program for those with sunken property values is rising, but the effort is just starting to reach the most severely “underwater” borrowers.

The U.S. Housing Crisis: Where are Home Loans Underwater?
Zillow Blog | June 1, 2012
With U.S. home values falling by nearly 25% since peak in 2007, many homeowners are now underwater in their mortgages, meaning they owe more than their home is worth. Search Zillow’s interactive map to discover what percentage of homes in your county or ZIP code are in negative equity, based on Zillow’s first quarter 2012 data.

Study: Buying a House Makes People Less Entrepreneurial
The Washington Post | June 3, 2012
The recent bust was a rude awakening about the downsides of owning a home. Researchers have uncovered yet another potential drawback: Purchasing a home makes people 20 to 25 percent less likely to start their own business.

Gen Y Is Ready to Buy
RealtorMag | June 1, 2012
Forty-seven percent of Generation Yers say they plan to purchase a home within five years or less, according to a new study released by Western Union. That tops the general population, 29 percent of which say they plan to buy a home in the next five years or less. 

What Are Renters Looking for in Housing?
RealtorMag | May 31, 2012
When it comes to apartment living, more renters want convenience and to be near urban and public transportation hubs, according to industry experts during a recent webinar hosted by the National Association of Home Builders. 

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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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Posted by on June 4, 2012 in Real Estate news


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