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Real Estate News Today 6-18-2012

18 Jun

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

Breaking News today: FHA rescinds $1,000 credit dispute rule from HousingWire 
The Federal Housing Administration rescinded a rule that would have forced potential homebuyers to settle ongoing credit disputes of more than $1,000 before getting financing, according to an alert sent to lenders Friday.

What Home Builders Need: Locations, Locations, Locations
The Wall Street Journal | June 17, 2012
The recent rise in home building could be thwarted by an unlikely factor, a shortage of land in desirable locations.

Homeowner Aid Boosts Big Banks
The Wall Street Journal | June 17, 2012
A government program that helps struggling homeowners take advantage of low interest rates to cut monthly mortgage payments is providing an unexpected revenue boost to large banks such as Wells Fargo Co. and J.P. Morgan Chase Co.

Study: 10 Places Facing Steepest ‘Fiscal Cliff’
The Wall Street Journal | June 14, 2012
A new study and interactive website attempt to measure the impact of the tax increases that will occur at the end of the year, absent congressional action.

Lawmakers Working to Streamline Mortgage Refinancing for Homeowners
The Hill | June 17, 2012
Momentum is building in the Senate behind a bill that would streamline refinancing for homeowners as lawmakers work toward an agreement that could lead to passage by the August recess.

Banks Layer Up on Security to Protect Customers
The Washington Post | June 15, 2012
What are the odds that the head of a company that tracks financial fraud would have his own bank account breached? James Van Dyke, president of Javelin Strategy & Research, certainly found it ironic when Wells Fargo alerted him to a fraudulent transaction six months ago.

Mortgage Basics: The Good Faith Estimate
Newsday | June 15, 2012
Your lender is required by the Federal Real Estate Settlement Procedures Act to provide you with a good faith estimate of the fees due at closing. This document, called the good-faith estimate, or GFE, is supposed to be provided to you within three days of applying for a loan.

Sellers to Buyers: Stop With the Lowball Offers!
RealtorMag | June 15, 2012
Home buyers who are looking for big discounts on housing nowadays are finding that their lowball offers are no longer sticking with sellers, and that their offers are getting a flat-out “no” when they’re way below the asking price.

Aging Population Forces Housing to Mature
The MReport | June 15, 2012
The nation’s housing developments need to grow up. In a commentary released Friday, Fannie Mae SVP and chief economist Doug Duncan said the country must prepare itself to address the housing needs of the aging Baby Boomer population.I posted on Thursday about inventory/activity and got a response that I highlighted on Friday that essentially said appraisers are using comps old enough that deals are falling apart because prices are trying to bump up a little.  In what has become an ongoing conversation, I got this response on Friday:

I’d have to disagree. while there are some appraisers out there who are being extremely conservative, adjusting values for a time factor influenced by a rising trend line is a pretty basic calculation for any appraiser.”

Agree or disagree?  Let me know.

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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