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Real Estate News Today 8-2-2012


Among the Stewart Title offices across the nation, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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RBS: Underwater mortgages hold steady without eminent domain
HousingWire | August 1, 2012
A higher percentage of underwater borrowers are still making payments, specifically in areas considering eminent domain to seize the loans and write down principal, according to research from the Royal Bank of Scotland

CA Homeowner Bill of Rights ignores logic
HousingWire | August, 2012
While some of the California Homeowner Bill of Rights provisions are reasonable, given the recent problems resulting from an unprecedented wave of foreclosures in the state, many others will needlessly interfere with a process that has mostly worked as intended.

What Cities are Best for Seniors?
USA Today | August 1, 2012
Seniors looking for the best city to grow older in may be better off flocking to the Midwest than sunny Florida, according to a recent report.

How to Navigate Today’s Mortgage Doc Maze
Bloomberg | August 1, 2012
If you want a chance of grabbing a sub-4 percent mortgage the latest challenge is being prepared to run the document gauntlet and become a supplicant to the underwriting gods.

Smaller U.S. Banks Seeking Exemption From CFPB Mortgage Rules
Bloomberg | August 2, 2012
Community banks are lobbying the Consumer Financial Protection Bureau to be exempted from two forthcoming regulations on mortgages.

City of Spokane works to bring down ‘silos’
Spokane Journal of Business | August 2, 2012
You can’t see it when driving along Spokane Falls Boulevard, but according to Jan Quintrall, the silos are coming down at City Hall.

Recent moves hint of a housing recovery
Spokane Journal of Business | August 2, 2012
After years of looking for any sign that the housing market was doing anything other than bumping along the bottom, indications that a recovery is under way have emerged.

Most second homes would escape new 3.8 percent tax
InmanNews | August 1, 2012
The warm summer weekend at the lake brought out sailors, wake boarders and even some old-time slalom water skiers. The discussion on more than one dock also focused on an additional tax on second homes.

And today in the “just for fun” category,
we offer you the Olympic medal standings from NBCBy the way, how do you feel they’re doing on their coverage?  They seem to be getting more criticism than praise. Thanks for reading our newsletter today!

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 8-1-2012


Among the Stewart Title offices across the nation, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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(Note that we have a couple more great resources for you today on the 3.8% Medicare tax. ~Anthony)

3.8% Tax in Health Bill: Additional Resources
The KCM Blog | August 1, 2012
We have previously reported on the questions surrounding the existence of a 3.8% tax in the administration’s health care program. Today we want to add two additional resources that can offer help in explaining the issue to your buyers and sellers.

Understanding the New 3.8% Tax of Investment Income
API Exchange
The Medicare tax, which goes into effect on January 1, 2013, will impose a 3.8% tax on the net investment income of joint filers with adjusted gross income over $250,000, and single filers with adjusted gross income over $200,000.

Real estate experts say mess could be solved if government would stop helping
The Washington Post | July 19, 2012
Last month, in the blistering heat of Denver, participants ranging from economists to green architects addressed some of the most pressing real estate issues at the National Association of Real Estate Editors annual conference.  After hearing from more than two dozen speakers over three days, I took away three points.

Case-Shiller Shows Strong Price Gains in May
The Wall Street Journal | July 31, 2012
Home prices put together a strong run this spring. The big question now: Can housing keep up the momentum heading into the summer?

Mortgages Dominate Complaints Sent to CFPB
HousingWire | July 30, 2012
The majority of the consumer complaints filed with the Consumer Financial Protection Bureau during its first 11 months in existence relate to mortgage debt, the CFPB said in its semi-annual report to Congress.

Where Home Ownership Rates Are Highest
Realtor Mag | July 31, 2012
Here’s a closer look at the home ownership rate among different demographics, according to the second quarter U.S. Census Bureau housing data.

10 Great Gadgets for Real Estate Professionals
Realtor Mag | July 31, 2012
Looking for more technology gadgets to make your business even more mobile? Check out some of the latest product debuts from this year’s Consumer Electronics Show. 

Five Emotional Mistakes to Avoid in the Home-Selling Journey
Fox Business | August 1, 2012
Home is where the heart is, but when it’s time to sell it, it pays to be a bit cold blooded. The home-selling process is filled with negotiations and paper work, and letting emotions play a role will only cost sellers money. Here are five expert-identified emotional mistakes that home sellers make that cost them money.

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 7-31-2012


Among the Stewart Title offices across the nation, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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The Difference Between Excellent and Perfect
The KCM Blog | July 31, 2012
Why does a buyer or seller look for a real estate professional in today’s new market reality? There’s plenty of information readily available for them to look at and analyze as they’re going through the process.

MBA: Multifamily/commercial mortgage originations swell 25% in 2Q
HousingWire | July 31, 2012
Multifamily mortgage originations helped commercial/multifamily origination volumes grow 25% in the second quarter from the year-ago period, according to the Mortgage Bankers Association’s quarterly survey.

Subprime Auto ABS Grows As Lenders Chase Margins: Credit Markets
Bloomberg | July 30, 2012
Sales of bonds tied to payments on subprime car loans are accelerating at the fastest pace in five years as investors seek high yields amid speculation the Federal Reserve will keep interest rates at record lows until mid-2015.

U.S. Housing Recovery Tested as Economy Tempers Optimism
Bloomberg | July 30, 2012
While orders for new homes are rising at the fastest rate in two years and housing may be a net contributor to the economy’s expansion for the first time since 2005, slowing job growth, tight inventories and a backlog of foreclosures threaten to put the brakes on a comeback.

How Forgiveness Fits in Housing-Fix Toolkit
The Wall Street Journal | July 30, 2012
Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing bust: to forgive or not to forgive?

Some at Fed Are Urging Pre-Emptive Stimulus
The New York Times | July 30, 2012
On the eve of the Fed’s policy-making committee meeting, members who favor more stimulus argued that the likely path of the economy was enough reason for action.

Congressional Leaders Near Budget Deal to Keep Government Running
The Washington Post | July 30, 2012
Temporary spending agreement would keep it running for the first half of the next fiscal year.

Is Housing Recovery Real? Not Everyone Is Convinced
NPR | July 31, 2012
Housing, the sector that led us into the recession, now looks to be one of the brighter spots in the economy. Homebuilding is at its highest level in nearly four years. More homes are selling, and at higher prices.

Yesterday we had an article about a company that is customizing the term of their homes loan to fit the clients desires.  We had two responses that I wanted to share from loan officers:

From CL: I do this all the time….I give them an excel sheet that lets the customer design their own.  They can change the principal monthly amount and see how much sooner than can pay off their mortgage based on their own timeline and needs.  VERY effective and also shows them sometimes the cost is not worth the expense of a refi unless they want rate bragging rights!!

From DB: It is currently is available!!!
1.       Borrowers on home loans do not have prepayment penalties today on the vast majority of loans.
2.       Borrowers can make additional Principal payments any time therefore,  reducing the loan balance, therefore retiring the loan at any point in time they desire. 
You just made you designer loan.
3.       We currently offer, 10, 15 20, 25, 30 and 40 year loans, with no prepayment penalties, the ability to pay extra every month, every other month, once a year,  etc….
4.       We offer the borrowers various amortization schedules so they can set the payoff date—VERY few ever follow through, they drop back to the easiest payment so they can do whatever with the “extra” cash.

 Anthony Carollo 2007 EMAIL  

Join My List

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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 7-30-2012


At Stewart Title, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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Designing your own mortgage
Chicago Tribune | July 27, 2012
Here’s an appealing idea: What if you could design your home loan so the house is paid off exactly when your kids go off to college or when you retire? Or if you could refinance for 10, 12 or 17 years, instead of the standard 15- or 30-year terms on most fixed-rate mortgages?  (I’m curious if any of the loan officers or bankers reading this offer this kind of option.  Are borrowers showing interest?  If you are a borrower, is this something you would be interested in doing? ~Anthony)

The Economy’s Impact on Housing
The KCM Blog | July 30, 2012
With the economic recovery sluggish at best, many ask what impact this has on housing. Over the last several years, most economists believed that housing would not recover until the overall economy recovered. However, it now seems that the housing sector may be a driving influence in the recovery. Here are four reports released in the last 30 days affirming this point.

Housing Isn’t a Horror Show Anymore
The Wall Street Journal | July 27, 2012
Housing is finally contributing to economic growth in a sustained way.

Why Do Investors Pay Higher Mortgage Interest Rates?
The Wall Street Journal | July 27, 2012
Investors pose added risks to lenders—and they pay the price.

Chicago Considers Eminent Domain to Seize Underwater Mortgages
HousingWire | July 27, 2012
The idea first came under consideration in San Bernardino County, Calif. Venture capital firm Mortgage Resolution Partners is pitching the idea to several cities across the country.

Where Homes Are Selling the Fastest
Realtor Mag | July 27, 2012
The average number of days homes are spending on the market has dropped by nearly 10 percent nationwide in the last year, according to June housing data from Realtor.com.

Home Owners Torn on Strategic Default: Right or Wrong?
RealtorMag | July 27, 2012
Forty-five percent of Nevada home owners recently surveyed say “there is nothing wrong” with walking away on your mortgage obligations, according to a new report, “Face of Foreclosure,” released by the Nevada Association of REALTORS®. On the other hand, an equal number of home owners say home owners have a “legal and ethical obligation to pay their mortgage if they can.” 

Warren Buffet Wants Your Mortgage Payments: Street Whispers
The Street | July 30, 2012
Few Americans are aware of it, but Berkshire Hathaway has been quietly positioning itself to take over an important role played by Bank of America in the mortgage market.

Another Top-10 List: Largest Asking Price Increase
Jones on Real Estate Blog | July 25, 2012
The big story in housing is actually two stories (which are related): 1. Rising Listing Prices 2. Shrinking Inventory  (A fine analysis from Dr. Ted Jones on why listing prices are going up. ~Anthony)

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:     LinkedIn     Twitter     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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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      

Join My List

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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


Check out and LIKE us on Facebook to follow other industry news!  Facebook

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      

Join My List

Find me on:     LinkedIn     Twitter     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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