Real Estate Today 8-30-2012

30 Aug

Stewart Title Spokane Facebook Page

Will Housing Lead A U.S. Recovery?
Forbes | August 27, 2012
The residential real estate market appears to have been one of the few encouraging areas within the U.S. economy during the second quarter.

‘The Economy Stole My Retirement’
The Wall Street Journal | August 29, 2012
The uncertain economy has left millions of small-business owners in their 60s and 70s unable to retire and forced to hang on for a recovery that economists say could still be a long way off.

The Housing Recovery Is Looking Better and Better
The Wall Street Journal | August 30, 2012
One of the biggest economic stories this summer has been the gradual improvement in the battered housing market. Wednesday’s data further reinforces that point.

Fewer Americans are Late on Mortgage Payments: Fed Bank of New York
HousingWire | August 29, 2012
Fewer Americans fell behind on their mortgages, credit cards and auto loans in the second quarter of 2012, the Federal Reserve Bank of New York said in its Quarterly Report on Household Debt and Credit.

Housing Market Improvements Lessen Consumer Distress
The New York Times | August 30, 2012
Improvement in the nation’s housing markets has helped ease consumer financial woes, according to a quarterly report from a large credit counseling agency.

U.S. Pending Home Sales Highest Since April 2010
The Wall Street Journal | August 29, 2012
The number of U.S. home buyers who signed contracts to purchase previously owned homes rose last month to the highest level in more than two years, the latest sign of a strengthening housing market. (Was April 2010 at about the peak of the tax credit bump, or was that later for pending home sales? ~Anthony)

Baby Boomers About to Bust Out of Homes
The KCM Blog | August 30, 2012
There is little doubt that the baby boomer generation has had a major impact on the housing market as they proceed through the different stages of their lives. And they are about to go through the next stage – retirement. The opportunity that this next transition will create will be enormous. Let’s take a look.

Silicon Valley’s Boom Creates Shortage of $1 Million Homes
CNBC | August 29, 2012
The capital of high tech is now the capital of high-priced real estate.

Keep the responses coming and we’ll use them when we can!

Reader response to the article 2 must-have contingencies in a home purchase offer:
“In addition to that, the water should be tested and the septic (if there is one) should be both pumped and inspected.  Also:  If it is a rural or large lot — especially older property — there should be a boundary line survey if the property corner points cannot be located.  My verbiage goes something like this: “Seller shall locate & clearly mark the property points.  If points cannot be identified and a new pin must be placed, then seller will order and pay for both the survey and the re-recording of that survey prior to closing.”  Several times I have discovered, on behalf of my clients, that fence lines or barns are not on the property.“

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Posted by on August 30, 2012 in Real Estate news


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