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Real Estate News Today 6-15-2012

15 Jun

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A Happy Father’s Day to all of you amazing Dads out there!  Keep investing time and energy into your kids and grandkids.

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

Sheila Bair tackles the European debt crisis, Jamie Dimon and regulators – Fast Forward
Reuters | June 14, 2012
Sheila Bair, the former FDIC chairwoman who heads the newly formed Systemic Risk Council, explores whether U.S. banks can handle the European banking crisis and whether the attention on JPMorgan‘s trading loss is distracting regulators from a looming crisis. (This is a video worth watching, though I must admit to being distracted by the employee that keeps checking her cell phone for text messages in the background.  ~Anthony)

Market Hinges on Sustained Increase in Employment: Harvard Study
DS News | June 14, 2012
Sales are down, then they’re up. Home prices are up, then they’ve fallen. Clearly, it has been an unstable journey for the housing market, with hopeful reports dashed by disappointing data a month later.

Foreclosure Spike Is Positive Sign For Housing
CNBC | June 14, 2012
Foreclosure starts, the first phase of the process, rose 9 percent in May month-to-month, the first increase in over two years, according to a new report from RealtyTrac. Bad news, right? Only if you are the one losing your home.

Housing Market Shows Hints of Recovery, but Economic Troubles Remain
The Washington Post | June 14, 2012
A growing body of data in recent months has suggested that better days are on the horizon for the nation’s battered housing market, though it remains clear that a turnaround won’t come quickly.

Foreign Buyers Rush to Prop Up U.S. Housing Market: NAR
The MReport.com | June 14, 2012
The combination of low housing prices and the comparative weakness of the dollar continues to push foreign buyers to the United States, raising international home sales to $82.4 billion up from $66.4 billion last year, according to the National Association of Realtors (NAR) 2012 Profile of International Home Buying Activity.

Multifamily Attracting Foreign Investors
RealtorMag | June 14, 2012
Though it’s a good time to buy a house considering the rock-bottom prices and interest rates, strict lending guidelines are driving more would-be home owners to go the rental route. Enter overseas investors, who are well aware of the rising need for rental units and the low number of vacancies nationwide. These properties are drawing attention from investors across the globe, industry insiders say.

Meet Agent X: The man who rappelled down a cliff to sell a house
HousingWire | June 15, 2012
The Agent X awards ceremony at REO Expo provided a $100,000 marketing package from HousingWire. And, believe me, our winner’s unique story truly deserved it.

Regarding my “inventory/activity” question from yesterday, I got this response: “The market activity has picked up which means sellers are asking a little more for their homes  and maybe even getting offers that reflect higher prices—-BUT the appraisers are using comparables of 3-6 months ago when the prices were still distressed and deals are falling apart all over the place because sellers feel they can wait to sell and get their price.” 

Agree or disagree?  Let me know. ~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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