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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 7-25-2012


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RealtyTrac: Houses Purchased for Investment Rise 65%
HousingWire | July 24, 2012
Homes purchased for investment purposes rose 65% in 2011 as investors looking for a place to park their cash sought out bank-owned properties, according to the latest Foreclosure News Report for RealtyTrac.

Massachusetts email constitutes binding real estate agreements
HousingWire | July 24, 2012
Massachusetts real estate agents and lawyers should now be careful about what they put in emails: They could come back to bite you. Or, at least, contractually bind you to something you didn’t want to be contractually bound to.  (While this a Massachusetts court decision it seems to open the door to the possibility of similar decisions around the country. The lesson? The more clearly you communicate the better. ~Anthony)

Home Equity Protection Insurance Yanked Off the Market
Inman News | July 24, 2012
Known as “Home Value Protection,” the plan was featured on CNBC, FOX Business and publicized in news articles across the country. 
(Hindsight is 20/20 isn’t it? Could they really not see this coming? ~Anthony)

Positive Housing News Keeps Rolling In
The Wall Street Journal | July 24, 2012
The gradual recovery in the housing market continues amid more upbeat news this morning.

Health, Housing Get Greatest Federal Subsidies
Associated Press | July 25, 2012
A study of federal subsidies of various sectors of the economy says that health care and housing combined to reap almost $1 trillion in support in the most recent year for which data was available.

TARP Funds for Housing Relief 90 Percent Unspent, Auditor Says
Bloomberg | July 25, 2012
Distressed homeowners have received only 10 percent of nearly $46 billion in federal aid since the money was allocated in 2009 under the Troubled Asset Relief Program, a U.S. auditor’s report said today.

4 Home Showing Tips in the Hot Weather
RealtorMag | July 24, 2012
Sizzling 100 degree temperatures have been blanketing the country in recent weeks, but some potential buyers may be more reluctant to go house shopping in the heat. How can you still draw the buyers out?

Buying a Foreclosure: Is the Stigma Gone?
RealtorMag | July 24, 2012
“Once considered damaged goods, fit for only the bravest investors, foreclosures have not only lost their stigma, they’ve become hot properties,” according to a recent article in The Christian Science Monitor.

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 7-24-2012


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Judge Rules: Agent Not Liable for Buyer’s Injuries
RealtorMag | July 23, 2012
A home buyer sued his real estate agent after he broke his ankle, wrist and elbow while previewing a home for sale. However, a judge last week ruled that the real estate agent was not liable for home buyer Michael Davies’ injuries.

Home Values Post First Year-Over-Year Increase Since 2007
Bloomberg | July 24, 2012
Home values posted their first year- over-year increase since 2007 in the second quarter as the U.S. property market began to lift off a bottom, Zillow Inc. said.

Geithner Says Extending Tax Cut for Wealthy Irresponsible
Bloomberg | July 24, 2012
U.S. Treasury Secretary Timothy F. Geithner said President Barack Obama is “absolutely committed” to letting tax cuts for the wealthiest Americans expire as scheduled at the end of this year.

Moody’s: National Eminent Domain Program Would Push Jumbo RMBS Losses
HousingWire | July 23, 2012
Should proposals being considered in some California areas to seize underwater mortgages be adopted nationwide, mortgage bond investors could see defaults rise by more than 30%, according to new Moody’s Investors Service analysis, leading to losses.

Fannie Mae Cuts 2012 GDP Growth Forecast
The Wall Street Journal | July 23, 2012
Fannie Mae has cut its U.S. gross domestic product growth projection for the year, citing an uncertain job market and weak consumer spending.

Avoid These 6 Recipes For Business Disaster
The Wall Street Journal | July 23, 2012
Why would anyone want to know the formula for failure? Because you may be blind to the fact you are already following it, says guest columnist Mike Michalowicz.

Commercial Continues to Lead Rebound
RealtorMag | July 23, 2012
Two recent reports highlight the strength of the commercial market.

Opposing world views battle for housing future
HousingWire | July 23, 2012
The national debate about the future of the American home is already shaping up to be an epic battle between two different ideologies.

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 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  

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 7-20-2012


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Fore Sale: The Golf Housing Bust
The Wall Street Journal | July 19, 2012
Prices at luxury private golf communities are crashing, done in by rampant overdevelopment, the economic downturn and waning national interest in the sport. Golf courses are being shrunk and some home lots are being sold for $1.

U.S. Banks Haunted by Mortgage Demons That Won’t Go Away
Reuters | July 19, 2012
Lenders like Bank of America Corp and Wells Fargo & Co say they are facing mounting pressure to buy back bad mortgages they sold to investors, signaling that banks’ home-loan headaches could continue for years.

Behind the Numbers: Home Sales Fall, Led By Cheapest Homes
The Wall Street Journal | July 19, 2012
Most of the housing news lately has been positive, so Thursday’s news of a 5.4% drop in June’s existing home sales was a bit of a surprise.

Zuckerberg is Not the Only One Who Can Get Super Low Mortgage Rates
CNBC | July 19, 2012
After seeing Mark Zuckerberg has scored a 1.05 percent mortgage rate on his $6 million California home, we have just two questions: Why does he need a mortgage? And where can I get one like that? (I would LOVE to hear a mortgage loan officer’s thoughts on this one. ~Anthony)

Are the Real Estate Bellwethers Finally Ringing? Check out the Numbers
Forbes | July 19, 2012
In case you’re still a nonbeliever that housing has finally crawled its way into recovery mode, ask yourself: What are the bellwether indicators of the early stages of a rebound? You can probably rattle them off.

U.S. Housing Poised to Boost Economy
Reuters | July 20, 2012
The U.S. housing sector is poised to boost economic growth. While existing home sales fell 5.4 percent in June from May, other indicators suggest a recovery is under way. A flip to a positive impact after dragging on GDP for five years will give lawmakers a chance to change distorting housing market policies.

Personal Information, Password Theft on the Rise
RealtorMag | July 19, 2012
Hacked personal information online, including stolen passwords, has soared 300 percent during the first four months of 2012, according to a study by Experian CreditExpert and Opinion Matters. 

Short sales more rewarding than REO: RealtyTrac
HousingWire | July 20 2012
The market is trending towards short sales as lenders lean more heavily on disposition methods that aid distressed homeowners while making it easier for lenders to resell homes that have spent less time in a state of distress, RealtyTrac vice president Daren Blomquist told HousingWire Thursday.
 

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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