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Real Estate News Today 7-27-2012


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

 
Is This What a Housing Bottom Looks Like?
The Wall Street Journal | July 26, 2012
Another housing report shows that market activity is up considerably from one year ago but easing off of the levels set by a surge of transactions earlier this year.

Bill Seeks to Stop Second-Lien Holders from Killing Short Sales
Realtor Magazine | July 27, 2012
Second-lien holders are being blamed for derailing many short sale transactions. Proposed legislation aims to change that.

Capital Economics: Low Mortgage Rates Aren’t Affecting Demand
DSNews | July 26, 2012
In recent months, data from the Mortgage Bankers Association, Freddie Mac, Bankrate, and other firms has shown mortgage rates steadily falling, hitting new lows week after week in some measures.

Housing: A Long Way From Normal
BusinessWeek | July 26, 2012
Remember suburban Phoenix, home of empty subdivisions with green swimming pools and roving coyotes? It’s booming again.

Time Not on the Side of Older Americans in Housing Slump
Reuters | July 26, 2012
Prior to 2008, many baby boomers assumed they were set for retirement. They would fund those golden years by tapping into their homes if they hadn’t saved enough in their 401(k) plans.

Lack of Inventory Blamed For June’s Dip in Pending Home Sales
DSNews | July 27, 2012
In another sign the housing sector may be languishing again —the Pending Home Sales Index (PHSI) dipped 1.4 percent in June to 99.3 from a downwardly revised 100.7 in May, the National Association of Realtors reported Thursday.

HELOCs Return in Some Hardest-hit States
HousingWire | July 26, 2012
Home equity lending returned in some unlikely places over the past year, according to Moody’s Analytics and Equifax.

Short Sales vs Foreclosures: the Children
The KMC Blog | July 27, 2012
This week, we have looked at the advantages of a short sale over a foreclosure from five different perspectives: Sellers’, Neighborhoods’, Banks’, Prices and the Children.

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

 

Real Estate News Today 7-26-2012


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

Land Problem Weighs on New Home Sales
The Wall Street Journal | July 25, 2012
There are signs that the spring selling season seems to have cooled off for new homes.

10 Big Bargain Housing Markets
Realtor Mag | July 25, 2012
Home prices are inching up in many areas, but in several metros housing bargains can still be found.

Refinance Applications Reach Highest Level Since 2009
TheMReport | July 25, 2012
More applications ticked up as record-low mortgage rates spurred refinance applications to their highest level since April 2009.

New Home Sales Fell in June to 350,000
The Washington Post | July 25, 2012
Fewer new homes were sold in June after sales surged in May, a sobering break from the recent positive housing market news.

Evasive second-lien holders thwarting short sales
HousingWire | July 25, 2012
Second-lien holders possess a quiet power to thwart the short-sale process, and their willingness to do so has prompted realtors and first-lien holders to bring the issue to the attention of policymakers.

Real Estate Agent: The Job can be a Killer
Fox Business | July 25, 2012
To those not in the industry, real estate agents may appear to have easy jobs. They ride around showing fabulous houses, work a flexible schedule and sometimes land big commission checks.

Mortgage rates drop to historic lows
HousingWire | July 25, 2012
Market concern over the strength of the economic recovery took Treasury yields to new depths, causing both 30- and 15-year fixed-rate mortgages to continue tumbling to historic lows.

Housing turnaround becomes tailwind for weak economy
HousingWire | July 25, 2012
The housing market is converting into a tailwind for the broader economy as construction activity gains momentum at a double-digit pace and home prices finally rise.

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

 

Real Estate News Today 7-23-2012


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Property Investments Get Pricier
The Wall Street Journal | July 21, 2012
Real-estate investment trusts have soared in recent months—but there are still pockets of opportunity.

Real Estate Funds Lead the Pack, Can It Last?
USA Today | July 22, 2012
The housing market may finally be coming back, with home prices rising again and mortgage rates at record lows.

Millions of Older Americans at Risk of Foreclosure
CNN Money | July 20, 2012
A growing number of older Americans are falling into serious mortgage debt, with more than three million borrowers over the age of 50 at risk of losing their homes to foreclosure, according to a recent report from the AARP.

Wanted: A 15-Year Home Loan
The Wall Street Journal | July 22, 2012
Average rates on 15-year fixed-rate mortgages have been below 3% since May, leading more borrowers to consider swapping their current home loan for one with a 15-year term.

Safeguard, Freedom Alliance to give away homes to military families
HousingWire | July 20, 2012
Safeguard Properties
and Freedom Alliance are working with banks and lending institutions to provide homes for military families without the burden of a mortgage.

Apartment Rents: No Place But Up, Setting the Foundation for Rising Home Values
Ted C. Jones Blog | July 23, 2012
The U.S. Census Bureau estimates that the U.S. is adding 2.8 million people each year (and that is predicated on an assumed low net-in migration scenario). New residential building permits have averaged less than 600,000 per year for the past 48 months. Admittedly, there was residual excess inventory from the housing bubble, but that has been absorbed. As a result, rental rates are going up. How much rents are increasing is a function of the local market and comparative supply and demand.

Election Year Puts Housing on Hold
Fox Business | July 23, 2012
Here are some of the issues still on the table as we enter into the second half of 2012.

Geithner Set to Defend Actions on Libor, Wall Street Reform Before Congress
The Hill | July 22, 2012
Treasury Secretary Timothy Geithner will be mounting a defense of the financial reform law and his own stint running the Federal Reserve Bank of New York as ongoing scandals cast renewed clouds over Wall Street.

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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Real Estate News Today 6-28-2012


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

Supreme Court upholds Obamacare individual mandate as a tax
Yahoo! News | June 28, 2012
In a victory for President Barack Obama, the Supreme Court decided to uphold his signature health care law’s individual insurance mandate in a 5-4 decision, upending speculation after hostile-seeming oral arguments in March that the justices would overturn the law. The mandate has been upheld as a tax, with Chief Justice John Roberts joining the liberal wing of the court.  (Love it or hate it?  Most folks seem to feel strongly one way or the other. ~Anthony)

Mortgage Seizures Create ‘Very Serious Concerns,’ Sifma Says
The Wall Street Journal | June 27, 2012
Wall Street’s largest lobbying group is objecting to the use of eminent domain by municipalities to seize mortgages packaged into bonds so the loans can be shrunk to aid homeowners who owe more than their properties’ values.

After Years of False Hopes, Signs of a Turn in Housing
The New York Times | June 27, 2012
Announcements of a housing recovery have become a wrongheaded rite of summer, but after several years of false hopes, evidence is accumulating that the optimists may finally be right.

Government-Backed Loans Went to 6,300 Delinquent Taxpayer
The Wall Street Journal | June 28, 2012
More than 6,300 homeowners who owed millions of dollars in federal taxes received government-backed mortgages in violation of a federal policy, according to a report by a federal watchdog.

Provo, Raleigh Ranked as Best U.S. Business Cities
Reuters | June 27, 2012
Provo, Utah, the home of Brigham Young University, displaced Raleigh, North Carolina, as the best U.S. city for business in a new ranking released on Wednesday.

House to Add Student Loans, Flood Insurance in Highway Bill
San Francisco Chronicle | June 27, 2012
U.S. House and Senate negotiators are finalizing agreements to combine a multiyear highway bill with a one-year freeze on government subsidized student loan interest rates and a reauthorization of flood insurance programs.

Are Banks ‘Hoarding Foreclosures’?
RealtorMag | June 27, 2012
Recent housing surveys are showing an uptick in home prices, particularly in cities in warm-weather “sand states” that had been hard-hit during the housing slump, such as in Phoenix, Las Vegas, Miami, and Tampa. But some housing experts worry that the lift in prices may be temporary due to banks “hoarding foreclosures.”

The Biggest Growth Spots in the Next 20 Years
RealtorMag | June 27, 2012
Small to mid-sized cities will likely be the “biggest winners in the housing market two decades from now,” predicts Stan Humphries, Zillow’s chief economist. Some of these cities will be near large metro areas while some may be more distant and include small to mid-sized cities in college towns too, Humphries adds. (Guess who makes the list?  Whoop whoop! I love this town. ~Anthony)

Educational moment
I’ve seen several articles lately (including the one directly above) that use the term “exurb”.  It’s a new one to me, so I looked it up.  Here’s the definition: “a region or settlement that lies outside a city and usually beyond its suburbs and that often is inhabited chiefly by well-to-do families”
(from http://www.merriam-webster.com/dictionary/exurb)

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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Real Estate News Today 2-15-2012


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

Housing Inventory Declines May Prove Temporary
HousingWire | February 14, 2012
Crucial housing market metrics are beginning to look better to start the year, but the recent uptick may only be the result of a delayed foreclosure process.

Congressional Negotiators Reach Tentative Deal on Payroll Tax, Unemployment Benefits
The Washington Post | February 14, 2012
Congressional negotiators reached a tentative deal Tuesday to extend a payroll tax holiday, unemployment benefits and Medicare payment rates for doctors, while finding more than $50 billion in cuts to reduce the effect on the federal deficit.

After Two-Year Lull, Delinquencies Rise for Second Straight Quarter
DSNews | February 14, 2012
The national mortgage delinquency rate rose during the fourth quarter of 2011, TransUnion reported Tuesday, marking only the second time since the end of 2009 the Chicago-based credit bureau has recorded an increase in its quarterly assessment of past due mortgage payments.

Obama Plan Would End Dozens of Business Tax Breaks
Reuters | February 14, 2012
The Obama administration’s corporate tax reform plan would end “dozens and dozens” of tax breaks, Treasury Secretary Timothy Geithner said on Tuesday as he defended the White House’s election-year call for higher taxes on the wealthy.

Debate: Does Social Media Deliver Results for Small Businesses?
The Wall Street Journal | February 14, 2012
The Wall Street Journal invited two business owners—Karen Russo, CEO of K. Russo Consulting Inc., Stamford, Conn., and Kurt Walchle, CEO of Survival Straps, Jacksonville, Fla.– to share opposing views.

The unexplained gray area of adverse possession
HousingWire | February 14, 2012
The story…. is of a Dallas man who filed adverse possession of a property that neighbored his in order to clean it up. Evidently, the property, which had sat vacant for two years, fell into such disrepair that he was concerned it would have a negative effect on his own home value. (We often encounter folks who don’t understand why a bank won’t go in and maintain a property after it’s been abandoned, but BEFORE the foreclosure is complete.  This article provides an excellent explanation. ~Anthony)

Foreclosure Sales Up for West Coast States Except Washington
DSNews | February 14, 2012
Foreclosure sales on the West Coast started strong for the beginning of 2012, with Washington as the exception, according to ForeclosureRadar.

From the National Association of Realtors®:

6 ‘Turnaround Towns’ in Real Estate
Watch for these housing markets to soon take off, according to a new report by Realtor.com.

Major Metros Get Too Pricey for Some Buyers
“Even though people often say they want to live in urban neighborhoods where they can walk more and drive less, they get more for their buck where the car is king,” says one housing expert. Find out which metro areas boast the highest real estate costs.

 

Anthony Carollo 2007 EMAIL  

 

Join My List

Find me on:   LinkedIn     Facebook

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

 

 

Real Estate News Today 1-12-2012


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

Poll: Don’t Tread on My Mortgage-Interest Deduction
The Wall Street Journal | January 11, 2012
The National Association of Home Builders has a message for political candidates: Americans don’t want anyone messing with the popular mortgage-interest tax deduction.

Fed Says Economy Expanding, Housing Market Still Dead
Forbes | January 11, 2012
latest Fed Beige Book shows. Covering the month of December, all twelve Fed districts noted some level of expansion in activity, as the economy rode the holiday wave and increased consumption trends vis-à-vis 2010.

Fed: Final Weeks of 2011 Were Among the Best of the Year for U.S. Economy
The Washington Post | January 11, 2012
Consumers spent more, factories made more goods, Americans stepped up travel and the auto industry excelled.

The CFPB Just Rolled Out A Road Map For How It Will Police Mortgage Lenders
Business Insider | January 12, 2012
Just days after Richard Cordray slipped into the director’s chair, the agency said it was ready to start cracking down on those much-maligned nonbank mortgage lenders. Now we know exactly how they plan to do that.

Home Price Declines Consistent Across The Country
DSNews | January 11, 2012
Marking the fifth consecutive month of decline, home prices fell 0.8 percent in October, matching levels last seen in 2002, according to Lender Processing Services’ (LPS) Home Price Index released Wednesday. As of October, the national home price average was $200,000.

Gen-Y Demographic Could Quickly Vacate Apartments for Homeownership
Multifamily Executive | January 10, 2012
Take it while you can get it, say single-family housing experts, who expect Gen Y to cycle out of the rental market as wage growth stabilizes and mortgage lending loosens against a backdrop of expected rent increases.

Bank profit reports could be lifted by business loans
Reuters | January 12, 2012
A recent rise in loans to businesses is spurring hope that U.S. bank earnings reports, which begin on Friday, will show the outlook for this economically critical industry is better than battered stock prices and weak investment banking volumes suggest.

When a homeowner becomes a landlord
The Washington Times | January 5, 2012
Homeowners in the D.C. area often find themselves assigned to offices in other parts of the world for a year or two at a time and need to rent their property to generate added income. Other homeowners are waiting for the economy to improve before putting their homes on the market and are becoming landlords in the meantime. Homeowners trying to avoid foreclosure also may choose to rent their property, cover the mortgage with the rental payment and move to a less expensive home while waiting for home values to rise and their finances to improve.  (While the reporter certainly focuses the content on the Washington D.C. market, the article does give a good overview of issues to consider when a homeowner is considering converting their real estate to a rental. ~Anthony)

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:   LinkedIn     Facebook

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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