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Real Estate News Today 6-11-2012


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

Fitch Throws Warning Shot On U.S. Debt
The Wall Street Journal | June 7, 2012
While investors are closely following every whiff that comes out of Bernanke’s mouth, Fitch Ratings just offered a stern warning to U.S. policy makers: Get your acts together, or else.

Realogy parent company plans $1 billion IPO
HousingWire | June 8, 2012
Realogy Corp.’s parent company, Domus Holdings, which operates Century 21 and Coldwell Banker, filed to raise as much as $1 billion in an initial public offering in order to shed its heavy debt.

U.S. Government to Offer Troubled Mortgages for Sale
Reuters | June 9, 2012
The U.S. Federal Housing Administration on Friday announced plans to sell off thousands of severely delinquent loans in an effort to protect its dwindling capital and improve the chances more troubled borrowers avoid foreclosure.

IRR: Down Payment Biggest Obstacle to Homeownership
DS News | June 8, 2012
Feelings about homeownership remain positive in the face of a diminished market, but an uncertain economy and increasing down payments are keeping Americans from making purchases, a report from Integra Realty Resources (IRR) said.

Shortage of Homes for Sale Creates Fierce Competition
Los Angeles Times | June 10, 2012
With housing inventory at a low, would-be buyers are scrambling to bid on homes before they’re even listed, and real estate agents are vying to represent the few sellers that do exist.

Unfamiliar Feeling for Housing: Optimism
The Seattle Times | June 8, 2012
The growing number of prospective buyers showing up at open houses and calling to inquire about listings has translated into sales.

This Family’s Nightmare Shows Why Foreclosure Auctions Are Such A Gamble
Business Insider | June 8, 2012
A mistaken bid on an online foreclosure auction site could cost not one but two families their homes.

U.S. Household Net Worth Grows as Debt Shrinks: Fed
DSNews.com | June 8, 2012
Household net worth increased in the first quarter of 2012 due to gains in the stock market, while household debt declined, according to the 2012 first quarter “Flow of Funds” report released by the Federal Reserve Thursday.

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 5-14-2012


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

Is Now the Time to Buy Your First House?
The Wall Street Journal | May 13, 2012
Yes, says RBC Global’s Eric Lascelles, who believes homes are more affordable than they’ve been in quite a while. No, says economic consultant A. Gary Shilling, who contends that home prices have 20% or more to drop before they hit bottom. (Check out this one and tell me which side you fall on?  Buy or wait? acarollo@stewart.com )

Lenders are Using a Variety of Tools to Prevent Mortgage Fraud
The Los Angeles Times | May 13, 2012
Websites and other tools can help nab fibbers who just want to buy a house, as well as out-and-out perjurers looking to bilk lenders out of hundreds of thousands of dollars.

Letting China Bank Buy U.S. Lender is Questioned
Seattle Times | May 13, 2012
A decision to let Chinese banks acquire U.S. lenders marks the first time that regulators have allowed a Chinese bank to buy a majority stake in a U.S. depository institution, and at least one senator is concerned.

Hedge Funds Are Shadow Banks in Need of Regulation, Bafin Says
BusinessWeek | May 13, 2012
Hedge funds act as shadow banks and should be added to the list of organizations in need of regulation, according to Raimund Roeseler, head of banking supervision at Germany’s financial regulator Bafin.

Take the Great Estate Challenge
The Wall Street Journal | May 13, 2012
Test your knowledge of luxury homes featured in The Wall Street Journal.

LPS: Home Prices in February Edge Upward
HousingWire | May 11, 2012
Average home prices across the nation rose a meager 0.2% in February to $195,000, according to LPS Applied Analytics, with early data from the firm suggesting another flat increase of 0.3% in March.

The Top 10 Rookie Mistakes for Entrepreneurs
The New York Times | May 9, 2012
In sports, you are a rookie for one year. In entrepreneurship, it can last many years.

Double-Digit Price Increases Coming Soon?
RealtorMag | May 11, 2012
Home buyers and sellers need to get ready to pounce. Hard-hit housing markets are on the road to recovery and expected to see major price gains soon.  (Take a look at the CNNMoney article this one was based on.  It has matrix to pull from based on metro areas – and check out ‘ol Spokane!!  This appreciation would be terrific if it came through. ~Anthony)

Conditions improve in commercial real estate, but confidence is fleeting
HousingWire | May 11, 2012
Conditions in the commercial real estate sector improved in the first quarter, but investors and executives are worried about some of the commercial mortgages set to mature in the coming year and the market’s general lack of interest in sub-A real estate assets, real estate executives said.

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 2-22-2012


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

FHFA Releases Plan for Freddie, Fannie Exit
The Washington Post | February 21, 2012
A federal housing regulator on Tuesday released a plan for beginning to scale back mortgage giants Fannie Mae and Freddie Mac — just as the Obama administration is pressing the taxpayer-backed companies to do more to help homeowners.

Grubb & Ellis Files for Bankruptcy
HousingWire | February 21, 2012
Commercial real-estate firm Grubb & Ellis filed for Chapter 11 bankruptcy protection as it faces liquidity problems and $30 million in debt that matures on March 1. Financial brokerage firm BGC Partners agreed to acquire the Santa Ana, Calif.-based firm with a $30 million credit bid.

Critics: Fed’s housing push crosses a line
The Washington Post | February 21, 2012
Senior Federal Reserve officials are injecting themselves into a noisy debate over how to solve the housing crisis, drawing criticism from some lawmakers who say the Fed has no business straying from its traditional role as the U.S. central bank.

Should Mortgage Rates Even Be Lower?
The Wall Street Journal | February 21, 2012
Mortgage rates are the lowest on record. But by a key historical measure, they should be even lower. Over the past year, a wide gap ripped open between the mortgage rates house hunters see and a benchmark interest rate investors demand to buy bonds backed by home loans.

Delinquency Rate Falls in January But Foreclosure Starts Rise: LPS
HousingWire | February 21, 2012
The delinquency rate on U.S. mortgages monitored by Lender Processing Services fell in January but foreclosure starts rose.

Under Volcker, Old Dividing Line in Banks May Return
New York Times | February 21, 2012
The Volcker Rule, and its limitations on bank trading, may have the unintended effect of dividing the world back into investment banks and commercial banks. The unusual twist here is that Goldman Sachs and Morgan Stanley may end up stuck on the wrong side of the fence, treated under the law as commercial banks instead of the investment banks they once were.

Moderate Growth Projected for 2012
DSNews | February 21, 2012

Overall, growth is expected to continue for the year, but at a modest rate, according to the Fannie Mae February 2012 Economic Outlook report.

IRS Releases the Dirty Dozen Tax Scams for 2012
IRS.gov | February 16, 2012
The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

From the National Association of Realtors®:

The 10 Most Popular Housing Markets
Find out which real estate markets garnered the most clicks at Realtor.com last month.

Is the Downsizing Trend Fading?
New homes built in 2011 were bigger in size and had more amenities and features compared to homes built in 2010, new Census data shows.

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 2-8-2012


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

How ‘Shadow Inventory’ Is Killing the Housing Market
Time | February 8, 2012
Recently, there have been lots of positive signs coming out of the real estate market. Foreclosure rates are down, housing starts are up, and homes have appreciated in value in some markets for the first time since 2006.

Fannie Mae: Outlook for Home Prices Rises Again
The Wall Street Journal | February 7, 2012
The consumer outlook for U.S. home prices improved again in January, extending a recent upward trend in housing market sentiment, according to mortgage market firm Fannie Mae.

What Happens When You Walk Away From Your Home?
Yahoo Finance | February 7, 2012
Does it make sense to keep paying a massive mortgage, knowing that it might be decades before a home regains its prior value? Or is that akin to – as columnist James Surowiecki recently wrote in the New Yorker – “setting a pile of money on fire every month”? (The author seems to suggest walking away from your home loan is a simple business decision. While he does cover the moral question of strategic default, it seems to me he disregards it as an issue to be considered.  I would strongly disagree with that theory. Thoughts? ~Anthony)

Fannie Mae Now Accepting Online Offers for REOs
DSNews | February 7, 2012
Fannie Mae announced Tuesday that it has expanded its online system to accept purchase offers for all its REOs listed for sale.

Bernanke-Led Economy Shows Critics Wrong About Fed
Bloomberg | February 7, 2012
The numbers are proving Federal Reserve Chairman Ben S. Bernanke’s critics wrong.

Obama Calls on Tax Breaks for Small Businesses
The Wall Street Journal | February 7, 2012
President Barack Obama asked Congress to support tax breaks for small businesses Tuesday to help give entrepreneurs a “leg up” in the economy.

Republicans Demand Accounting Change of Fannie Mae Bailout Costs
Reuters | February 7, 2012
The U.S. House of Representatives voted to require the Obama administration to more fully incorporate Fannie Mae and Freddie Mac into its annual budget.

Independent Lenders Must Establish Anti-Money Laundering Programs
DSNews | February 7, 2012
The Financial Crimes Enforcement Network (FinCEN), established in 2009 by the Obama administration to investigate financial crimes, is expanding its reach.  (I included this one because it looks like this will put quite a burden on independent lenders and I wanted your thoughts about that; but also because I’m familiar with “flipping” a property but I’ve never heard of never “flopping”.  Anyone care to educate me? ~Anthony)

From the National Association of Realtors®:

More Deals Falling Through
A third of real estate professionals in a recent survey say their contracts were canceled before making it to the closing table.

For Renters, Market Likely to Get Pricier
Rising demand and a tightening supply is continuing to force both commercial and residential rents upward.

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 11-11-2011


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

Mortgage Rates Fall Below 4% for Second Time: Freddie
The MReport.com | November 10, 2011
Ongoing trouble in Europe meshed with low home prices to keep a heel on mortgage rates this week, with Freddie Mac offering up news that interest rates for loans fell below 4 percent for the second time this year.

Wells Fargo forms new group to finance REITs
HousingWire | November 9, 2011
Wells Fargo & Co. announced the creation of a new business segment Wednesday that will provide financing for real estate investment trusts.  Wells Fargo REIT Finance Groupwill offer banking services, lines of credit, term loans and construction loans to REITs.

Why you can’t get the lowest mortgage rates
MarketWatch | October 31, 2011
Mortgage rates are near historical lows, but the rates lenders are quoting you aren’t as eye-popping as those you see in the news.  Why is that?

S&P says mistakenly announced French downgrade
Yahoo! News | November 10, 2011
Ratings agency Standard and Poor’s said Thursday that it had mistakenly announced to some clients a downgrade of France’s top “AAA” credit rating, amid speculation of just such a move.  “As a result of a technical error, a message was automatically disseminated today to some subscribers of S&P’s Global Credit Portal suggesting that France’s credit rating had been changed,” S&P said in a statement.

Key lesson from Iceland crisis is ‘let banks fail’
Yahoo! News | November 5, 2011
Three years after Iceland’s banks collapsed and the country teetered on the brink, its economy is recovering, proof that governments should let failing lenders go bust and protect taxpayers, analysts say.

From the National Association of Realtors®:

Survey Reveals Why Buyers Are Waiting on Sidelines
“Perceptions as much as the realities of home ownership are standing in the way of boosting demand for housing,” says a spokesperson for Move Inc. about new survey findings.  (It seems to me that the “younger generation” is misinformed or misguided about the cost of housing-or on what it should cost.  We need to educate them!  Read for yourself and you decide. ~Anthony) 

Falling Rates Send Mortgage Apps Soaring 10%
More borrowers took advantage of lower interest rates this past week to buy homes and refinance existing loans.

Federal Gov’t Properties Hit the Auction Block
The federal government is trying to unload some real estate, and your buyers can now start the bidding in online auctions on various government properties, including residential homes in sought-after areas.

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!

 

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Real Estate News Today 11-7-2011


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

Occupied Oakland Promotes Occupying Vacant Properties
DSNews.com | November 4, 2011
The Occupy Oakland group is starting a new wave of occupations. They intend to occupy vacant properties.  The Occupy Oakland group announced on Twitter earlier this week that its general assembly “just passed a proposal to encourage the occupation of bank-owned/foreclosed and abandoned properties across #Oakland.”  (While I withhold comment on the whole “Occupy” movement, I will say that this strategy will NOT help the real estate and housing economy to recover; and would in fact hurt the chances of reselling those properties and getting those asset dollars back into the working economy.  ~Anthony)

Lobbying Titans Square Off Over Loan Limits
The Wall Street Journal | November 4, 2011
Influential housing and banking industry lobbying groups are clashing on Capitol Hill over whether to restore higher limits on the size of government-backed mortgage loans.

Home Price Growth Has Dissipated With the Summer Heat: Clear Capital
DSNews | November 4, 2011
Temperatures are falling, and so are home prices in most local markets. Clear Capital says it’s expecting another long winter as the housing industry tries to cope with the downward forces of weak demand, record-low consumer confidence, and distressed inventory.

First-Time Defaults in Private-Label MBS Edge Up in October
HousingWire | November 4, 2011
First-time defaults on private mortgages edged up to a rate of 0.89% in October, a slight increase from this segment’s default rate of 0.86% in September, a new report from Amherst Securities Group said Friday.

More Problems are Found With Home Buyer Tax Credits
The Los Angeles Times | November 6, 2011
An audit shows the IRS has been sending notices to taxpayers that either inform them they owe no repayments on their credits when they actually do, or demand repayments from recipients who legally owe nothing.

USDA Mortgages an Affordable Option
NASDAQ | November 5, 2011
If you’re looking for an affordable and obtainable mortgage, don’t overlook a USDA Rural Development Loan.

Lower Mortgage-loan Limit has Yet to Kill Off Market
The Seattle Times | November 7, 2011
Potential homebuyers are now looking for financing from generally higher-cost, private sources with stricter lending guidelines if they need to borrow more than $506,000.

Finding More Flaws in HUD’s Accounting of HOME Program
The Washington Post | November 6, 2011
The calls started in mid-May, two weeks before a looming congressional hearing. Staff members across the vast U.S. Department of Housing and Urban Development were racing to check in with hundreds of local agencies to determine the status of housing construction projects for the poor.

From the National Association of Realtors®:

More Adult Children Move Back in With Parents
The “doubling-up” trend of adult children moving back to their parents’ home cuts into the formation of new households and is being felt in the housing market, says the chief economist for Moody’s Analytics.

Android Users: Beware of QR Codes, Expert Says
The scannable bar codes have become a popular marketing tool but one security expert is telling Android smartphone users to watch out before they scan.

Maximize Your Business Potential on LinkedIn
LinkedIn is filled with business potential for real estate professionals. Start by creating a strong profile to make a great first impression. From there, utilize LinkedIn’s resources to connect with potential clients. Here are some tips from RealtyBizNews.  (Once you’ve done all that, then connect with me at http://www.linkedin.com/in/anthonycarollo ~Anthony)


 

Anthony Carollo

 

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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