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Real Estate News 6-29-2012


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

Supreme Court Upholds Obamacare: What It Means, What Happens Next
Forbes | June 28, 2012
The  Supreme Court’s decision today leaves in place a highly complex law, many of whose most expensive provisions kick in in 2014. Here’s what to expect

After Foreclosure, ‘Octomom’ Still Believes in Homeownership
The Wall Street Journal | June 28, 2012
Nadya Suleman, the mother famously known as “Octomom,” is working to raise funds for a new house.

Nunziata: It’s a Great Time to Refinance Your Mortgage
CNBC | June 28, 2012
According to eMarketer, an estimated 92.5 million adult Internet users will use online coupons in 2012 to save hundreds of dollars per year. Yet nearly four million Fannie Mae and Freddie Mac borrowers could stand to save hundreds of dollars per month refinancing their home mortgages under new programs that were not available until just a few short years ago. 

Most Borrowers Still Wary of Reverse Mortgages
The New York Times | June 28, 2012
The bureau, in a report released Thursday, said that the number of reverse mortgages had fallen since a peak before the financial crisis, but that the agency was seeing renewed interest.

Fed’s Fisher Says Housing Market Has `Bottomed Out’
Bloomberg | June 28, 2012
Federal Reserve Bank of Dallas President Richard Fisher said he believes low mortgage rates have helped bring an end to the slump in U.S. housing.

‘Dead’ Listings Get a New Life
RealtorMag | June 28, 2012
The big drop in inventories of homes for-sale is helping once-expired listings finally get sold. Sellers are finding relisting their properties may offer them more luck now than a few months ago, real estate professionals report. 

Are Appraisers ‘Scared’ to Report Rising Prices
RealtorMag | June 28, 2012
Real estate professionals and mortgage loan officers say that appraisers seem to be reluctant to report price appreciation occurring in numerous spots across the nation, and it’s complicating sales transactions, The Real Deal reports. 

Rental Market Attracting Residents Despite Price Increases: Survey
DSNews.com | June 28, 2012
The rental market appears to be doing more than just sustaining its health. After surveying property managers, TransUnion found that increasing prices aren’t keeping tenants away.

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 6-22-2012


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

Larry Ellison to Buy Island in Hawaii
The Wall Street Journal | June 21, 2012
Larry Ellison, the billionaire chief executive of Oracle Corp., was identified Wednesday as the buyer of the bulk of the Hawaiian island of Lanai. 

McMansion Creep: Homes Rising in Size
The Wall Street Journal | June 21, 2012
Big homes are back in style. That’s the headline from the American Institute of Architects‘ first-quarter Home Design Trends Survey.

Bidders Get Feisty Over Foreclosed Homes
NPR | June 21, 2012
For-sale homes in California are sparse, even in areas with high foreclosure rates. It has led to buyers like Jennifer Bryant, who is willing to throw money at just about anyone willing to sell her a house.

Home Sales Report Brings Mixed News
The Washington Post | June 21, 2012
The nation’s fledgling housing recovery, if you can call it that, has bumbled along in fits and starts, each step forward usually followed by a step backward, each piece of good news littered with caveats.

Courting the Chinese Buyer
The Wall Street Journal | June 21, 2012
Buyers from China are pouring billions into residential property—and developers are courting them with everything from feng shui to lucky numbers.

Fannie, Freddie Ease Short-Sale Rules For Military
The Wall Street Journal | June 21, 2012
Fannie Mae and Freddie Mac have agreed to allow military members who are ordered to switch bases and who are still current on their mortgages to sell their homes through a short sale — one in which the homeowner sells the home for less than the outstanding mortgage amount.

Regulators Set Foreclosure Compensation
The Wall Street Journal | June 21, 2012

U.S. bank regulators said banks could be forced to pay up to $125,000 per customer to compensate borrowers who were subject to foreclosure-processing errors. 

White House threatens to veto HUD budget cuts
HousingWire | June 21, 2012
The Obama administration said it would veto a bill that would cut the Department of Housing and Urban Development budget by $3.9 billion from last year.

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 1-25-2012


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

State of the Union 2012: Full Text of President Obama’s Speech
The Washington Post | January 24, 2012

Obama Takes Aim at Housing Bust in State of the Union Speech
Los Angeles Times | January 24, 2012
President Obama outlined steps that could affect the nation’s housing market in a State of the Union address that focused heavily on economic issues.

Zandi: President’s Refinancing Plan Would Help Lift Housing, Economy
The Washington Post | January 24, 2012
President Obama spent very little time on housing related policies in his State of the Union address Tuesday night. While disappointing, it’s not surprising as the problems are complex, extraordinarily difficult to tackle, and very costly. In his brief remarks, he focused on the right thing: facilitating more mortgage refinancings.

Tips to Help You Claim a Home-Office Deduction .
The Wall Street Journal | January 24, 2012
About 52% of all businesses are run from home. The number of teleworkers is growing annually. It’s good to know that some tax savings can result from this work arrangement. A portion of personal expenses for your home can be turned into a business deduction — if you meet certain rules.

Fannie’s Multifamily MBS Issuance Grew 45%
HousingWire | January 24, 2012
Fannie Maeissuance of securities backed by multifamily properties grew 45% in 2011, with the government-sponsored enterprise issuing $23.8 billion of MBS, up from $16.4 billion in 2010.

U.S. Consumer Bureau Mulling Rule Exemptions for Smaller Banks
Bloomberg | January 24, 2012
The U.S. Consumer Financial Protection Bureau may weigh size or market share in exempting community banks from its rules to shield them from the greater regulatory burdens facing their larger rivals.

Housing Inventory Down 22% From Year-Ago Levels
DSNews | January 24, 2012
At the national level, the inventory of for-sale single-family homes, condominiums, townhouses, and co-ops dropped by 22.29 percent over the last year, according to new statistics released by Realtor.com.

From the National Association of Realtors®:

More Buyers Ready to Get Off the Sidelines?
Falling home prices, record low interest rates, and rising rents are making more Americans take a closer look at home buying.

Agent, Buyer Robbed at Gunpoint During Open House
A REALTOR(R) association in California is warning its members to be on alert after a real estate agent and a potential home buyer were robbed at gunpoint during a recent open house.

2 Big Banks Slash Foreclosure Sale Timelines
JPMorgan Chase and Wells Fargo have cut their foreclosure timelines by as much as 100 days, helping the major lenders move through a huge backlog of foreclosures, according to a new report.

Anthony Carollo

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 12-27-2011


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

Decrying Wall St. greed is the easy part
The Boston Globe | December 26, 2011
FOR MOST Americans, Friday afternoons are filled with positive anticipation of the weekend. In Washington, it’s where government officials dump stories they want to bury. Good news gets dropped on Monday so bureaucrats can talk about it all week. When the Securities Exchange Commission chose a recent Friday to announce a lawsuit against six former Fannie Mae and Freddie Mac executives, it wasn’t because the Obama administration wanted to draw attention to the action. (This is an excellent editorial written by John E. Sununu ~Anthony)

Study Finds 38% of Homes Purchased in 2011 Bought with Cash
DSNews | December 23, 2011
Despite record low mortgage rates, 2011 has seen a surprisingly high level of cash home purchases, according to the real estate research firm Hanley Wood Market Intelligence.

Tax Revenue: Housing Bust Hits Home for Cities
The Seattle Times | December 25, 2011
The nation’s housing crisis is 5 years old, but the worst of the reckoning for local governments might only now be at hand.

Banks Still Waiting on Most Dodd-Frank Rules
The Washington Post | December 25, 2011
A year and a half has gone by since the Dodd-Frank financial reform act was signed into law, but barely a quarter of the rules in the legislation have been finalized, though federal regulators are rolling out key components of the bill.

Home Loan Options Abound, Despite Lack of Info About Availability
The Los Angeles Times | December 25, 2011
Looking beyond gloomy popular assumptions probably will yield multiple options for qualified applicants with little or no cash to put down, credit scores as low as 580 or high debt levels.

Payroll Tax Cut May Hurt Housing Market
The Los Angeles Times | December 23, 2011
To pay for the two-month payroll tax cut, a small fee will be levied for a decade on all mortgages sold to Fannie Mae and Freddie Mac. That also makes it harder to overhaul the housing finance system.

From the National Association of Realtors®:

Banks Lay Groundwork for Commercial Comeback
With demand for commercial real estate looking up, financial institutions are preparing for an improved market next year.

23% Off? 8 Cities With Big Housing Discounts
Home buyers can snag big bargains on houses in some markets. Find out which cities offer the biggest markdowns.

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 11-22-2011


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

Housing Inventories Fall to New Four-Year Low in October
The Wall Street Journal | November 21, 2011
The number of homes listed for sale fell for the fifth straight month in October, hitting the lowest level in more than four years.

Existing Home Sales Rise, Contracting Issues Prevent Full Rebound
HousingWire | November 21, 2011
Existing home sales increased 13.5% in October when compared to a year earlier and would be even higher if contract failures and cancellations plaguing the loan application process could subside, the National Association of Realtors said Monday.

What Panel’s Failure Could Mean for Economy
The Washington Post | November 21, 2011
Because the supercommittee could not agree on a budget plan, the tax cut, as well as unemployment benefits, could expire at the end of the year.

Housing Market at Bottom, Few Borrowers Qualify for HAMP: John Burns
HousingWire | November 22, 2011
Housing starts, sales and prices have been flat for months, suggesting housing has hit its bottom, John Burns Real Estate Consulting said Monday.

Freddie: HARP Changes to Boost Originations Nearly $300 Billion
HousingWire | November 21, 2011
Changes to the Home Affordable Refinancing Program could add between $200 billion and $300 billion mortgage originations over 2012 and 2013, according to Freddie Mac Chief Economist Frank Nothaft.

House bill establishes watchdog of bank examiners
HousingWire | November 21, 2011
A bill recently introduced in the House of Representatives would establish an independent office charged with investigating banks’ complaints about regulatory examiners.  (I included this article because it amazes me that we now think we need a new government office to watch over the regulatory folks who watch over the banks.  I’m not suggesting whether it isn’t or it isn’t needed, it’s just amazing to me! ~Anthony)

From the National Association of Realtors®:

Housing Affordability Hovers Near Record Levels
Low interest rates and stabilizing home prices continue to push housing affordability near its highest levels in more than 20 years.

Freddie Issues Rule Changes on Short Sales
As of Jan. 1, Freddie Mac will require all parties involved in a short sale to sign affidavits that will make them liable for any negligent or intentional misrepresentations in the transaction.

 

Anthony Carollo

 

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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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