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Real Estate Today 8-21-2012


The real estate today news for 8-21-2012 is out provided by Stewart Title Spokane! Like us on Facebook to keep up to date with the daily news.
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RE/MAX: Inventory Poses Biggest Threat to ‘Year of Recovery’
DSNews | August 20, 2012
Looks like the dragon will have to step aside: 2012 is now “The Year of the Housing Recovery,” according to RE/MAX.

HomeGain: Home Sellers More Successful With Real Estate Agent
HousingWire | August 20, 2012
Some homeowners may have a strong preference for selling their own properties, but a new poll by HomeGain suggests having a real estate agents improves a person’s odds of offloading their home.

Expectation for Prices to Rise Deters Would-Be Sellers: Survey
DSNews | August 20, 2012
After surveying more than 1,800 active home sellers, Redfin found that some of its customers are holding back from selling now because they believe patience will pay off in the form of higher offers for their home.

Going in Circles: The Merry-Go-Round Economy
The Wall Street Journal | August 21, 2012
Since the recession ended three years ago, the U.S. economy has felt at times like a roller coaster, ready one moment to fly off into full-blown recovery, then taking a sudden, gut-wrenching plunge back toward recession.

New Jersey looks to speed foreclosures on abandoned homes
HousingWire | August 20, 2012
A New Jersey state senate bill that would allow financial firms to expedite the foreclosure process on abandoned, vacant homes is advancing after making it out of committee. (This seems to me like it could be a great idea, as long as it’s uncontested and vacant. Your thoughts? ~Anthony)

Exclusive: New Bill Brings Better Housing Benefits for Veterans
DSNews.com | August 20, 2012
While the bill, passed by the House and unanimously by the Senate, has a primary focus to extend healthcare to those affected by Camp Lejeune’s drinking water, it also makes breakthrough changes that provide much needed reform to the VA Loan program, a program that has been in service since 1944.

Housing Update from Ashley Garner
The KCM Blog | August 21, 2012
The good news is the recovery of the Real Estate Market is unfolding exactly as it should and exactly as we have predicted.

The Spokane Association of Realtors Annual “Fill the Fridge” Food Drive is coming up (Sept. 6-7) to benefit Second Harvest.  Check out the SAR Food Drive Map showing the Albertsons locations and the store captains.  Volunteer now to fill a shift, or Second Harvest always accepts cash donations.

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Posted by on August 21, 2012 in Real Estate news

 

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Real Estate News Today 7-30-2012


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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  

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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

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Real Estate News 7-19-2012


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Washington to unveil voter registration on Facebook
KHQ | July 17, 2012
Facebook users in Washington state will have something else to brag about to their online friends: that they registered to vote on Facebook. (I doubt that this will increase voter fraud as it is not much different that the current online voter-registration that Washington has.  However, when a business advertises on Facebook, they can do incredibly targeted advertising,  Look for Facebook to begin allowing the option of targeting your ad campaign to “registered voters”.  Political advertising is very lucrative and if they are given the opportunity to gain a share of that market, they will make a run at it. ~Anthony)

Brett-led groups buy buildings on Havermale Block
Journal of Business | July 19, 2012
A pair of real estate investment groups headed by Spokane sports team owner Bobby Brett recently bought two three-story buildings, a one-story former garage structure, and 27,600 square feet of parking in the historic Havermale block downtown, says Chris Batten, a commercial real estate broker involved in the transactions.

U.S. Bank Passes on Overheated Commercial Property Markets
HousingWire | July 17, 2012
Top-ten mortgage originator U.S Bank is passing on commercial real estate opportunities in certain markets at risk of overheating because of new construction.

Bernanke Warns Against ‘Fiscal Cliff’
The Washington Post | July 18, 2012
Fed chairman reasserts his bleak assessment of economic growth.

Job Gains Need to Be Wind Under Housing’s Wings
The Wall Street Journal | July 18, 2012
Housing–long the intensive-care patient of the U.S. economic recovery–is finally showing life just as other sectors look winded. But the progress might be short-lived if the labor markets don’t pick up steam.

Is Housing Back From the Dead?
BusinessWeek | July 18, 2012
Could it be? A housing bottom? Have we finally worked through the worst aftershocks of the biggest asset bubble in recent memory? After a four-year slump, the U.S. housing sector finally appears to be recovering. For real this time.

When Foreclosure Affects Children
DSNews.com | July 17, 2012
Parents going through foreclosure may see it as a nightmare, a broken promise of the American Dream. Many might try to hide the stress and the effects of foreclosure from their children to keep them from worrying. However, researchers from the Children’s Hospital of Philadelphia (CHOP) are saying that children may actually suffer because of foreclosure more than anyone.
(If you know me well, you know that I love kids and I hate child abuse. That said, the researchers in this study have essentially pinned an increase on child abuse on the real estate industry by suggesting that foreclosures are tied directly to child abuse.  It seems to suggest that if foreclosures go up and child abuse goes up, then the one must be the cause of the other.  I believe that other socioeconomic factors are probably associated with child abuse, which in turn exacerbates the situation. One doesn’t necessarily lead to the other. Read the article yourself and tell me your thoughts. ~Anthony)

Is Instagram Real Estate’s Next Frontier?
RealtorMag | July 18, 2012
The Instagram app makes it easy for amateur photographers with smartphones to create works of art.  Some real estate firms are taking advantage of the app’s popularity and using it to accentuate their listings. 

 

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 7-5-2012


Running a little behind this morning.  Many thanks to my friend Kevin Parker and Dutch Bros. for the kick in the pants today.  (:-)  Check out and Like their Facebook page! Facebook 

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

It Takes a Little Work to Take a Vacation
The New York Times | July 4, 2012
Of all the challenges small-business owners face, one of the toughest is taking a vacation. (As Realtors, you are in an industry that has the most difficult time taking a vacation.  What’s the secret, if there is one? ~Anthony)

The John Grisham of Real Estate?
RealtorMag | June 28, 2012
Noting the success of author/lawyer John Grisham in spotlighting his profession in fiction, C.M. Nevill thought it was about time real estate took the dramatic stage of the action-adventure novel. 

Multifamily housing bubble may be in the future
HousingWire | July 3, 2012
While single-family housing starts remain down, rental demand is driving new multifamily construction. But how long the demand will last is uncertain — an uneasy consideration for investors whose current investments may take years to hit the market.

Some Points about Points
The KCM Blog | July 5, 2012
One of the more frequent topics discussed between loan officers and borrowers center around discount points. So today, I decided to give you some information and some things to consider. (I really enjoy their blogs.  They consistenly provide value which is something we are constantly trying to do.  Today’s blog is no exception.  Lenders: is there anything you would add to this? Email me at acarollo@stewart.com ~Anthony)

Rents Increase as Vacancies Dry Up
The Wall Street Journal | July 4, 2012
Landlords boosted apartment rents to record levels in the second quarter as demand from tenants sitting out the home-buying market pushed vacancy rates to their lowest point in more than a decade, according to a report to be released Thursday.

Cybercriminals Sniff Out Vulnerability
The Wall Street Journal | July 4, 2012
With cybercriminals a greater threat to small businesses than ever before, more entrepreneurs are left asking themselves who is to blame for hacking attacks that drain their business accounts. 

Small Business Lending Recovers, Delinquencies Drop to Record Low
The Washington Post | July 5, 2012
The overall volume of loans to small companies rose 12 percentage points in May, marking the largest month-to-month increase in three years and nearly erasing four consecutive months of decline to start 2012, according to the latest data released by Thompson Reuters and PayNet. J.D. Harrison JUL 3 Lenders are warming up to small firms again, but is it enough to trigger investments and hasten

Struggling Homeowners Avert Foreclosure Via Mediation
Reuters | July 5, 2012
Verise Campbell was excited. She could finally help struggling homeowners negotiate deals with their lenders to avoid foreclosure, but the angry response to her first phone call shocked her.

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 7-3-2012


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

The Real Value of Homeownership…It’s Not Monetary
The KCM Blog | June 27, 2012
There are numerous media sources reporting the advantages and disadvantages of homeownership. Every expert (from international money managers who have hundreds of billions of dollars of assets under management to local and national real estate experts) has chimed in on the subject. (This author does a fantastic job of putting in writing what so many of us feel.  Is the real value of home ownership all about the money?  Or is it stability and family?  It’s worth reading and passing along to anyone who questions whether they should invest in a home for themselves. ~Anthony)

Storm Damage? 6 Ways to Avoid Contractor Scams
Fox Business | July 2, 2012
The derecho storm that hit Ohio and the mid-Atlantic states Friday night brought winds in excess of 70mph, tore down power lines and trees, and left millions without power in the sweltering heat. Now, millions of American families will be faced with the task of filing insurance claims to get their homes, cars and property repaired. (My only alteration to the list would be #2.  There are LOTS of reputable contractors out there that are not on your insurance companies “approved list”.  I would certainly ask any contractor for 2 or 3 references that you can persaonally call and verify the quality of thier work.  Do I have any contractor friends with other feedback? ~Anthony)

Giants and Jets Sue to Block Mall in Meadowlands
The New York Times | June 22, 2012
The Giants and the Jets filed a lawsuit on Friday to block the proposed American Dream shopping and entertainment mall in the Meadowlands, which they contend will threaten their ability to successfully hold games at the nearby MetLife Stadium.

Is Cloud Computing Safe Enough?
The Washington Post | July 2, 2012
Power outages from Friday’s storms have some in Congress questioning the pace of moving to the cloud.

Office Sector Shows Sluggish Growth
The Wall Street Journal | July 2, 2012
San Francisco saw office rents rise faster than any other U.S. market in the second quarter, but the pace of growth in occupied U.S. office space slowed slightly, according to a report from Reis.

U.S. Home Prices Rose in May
Reuters | July 2, 2012
CoreLogic‘s home price index gained 1.8 percent from April and was up 2.0 percent from a year earlier.

California Homeowner Bill of Rights Passes, Sent to Governor
HousingWire | July 2, 2012
Two central provisions of the California Homeowner Bill of Rights passed the California State Legislature Monday. The bills will travel to Gov. Jerry Brown’s desk, where other provisions of the bill also await approval. Brown has not indicated whether he will sign or veto the legislation.

Don’t Lose Your Home Betting On Housing Stocks
Forbes | July 3, 2012
In recent weeks investors have received some positive signs for the housing market in the form of new home sales, housing starts and existing home sales for the month of May, but as most people know one month does not a trend make.
 

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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Real Estate News Today 7-2-2012


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

It pays to be proactive in a short sale
Chicago Tribune | June 22, 2012
Under new guidelines set down by Fannie Mae and Freddie Mac, underwater borrowers who are seeking to sell their homes for less than what they owe must now receive decisions from their lenders within 60 business days. But if they are not careful, floundering borrowers can cause delays beyond the two-month deadline. (This article has some good tips for agents and sellers alike on short sale pitfalls to watch out for. ~Anthony)

How health insurance mandate will work
CNNMoney | June 29, 2012
Now that the Supreme Court has upheld the health insurance mandate, most Americans must be insured starting in 2014 or pay a penalty. The penalty will be assessed on your tax return and administered by the IRS. But exactly how is a big question.

Congress Votes for 5-year Extension of Federal Flood Insurance Program
The Washington Post | June 29, 2012
Failure to renew the program would have been a blow to the fragile housing market because potential homeowners in flood-susceptible areas would be unable to close on mortgages or refinance loans.

FHA Rescinds Tough New Credit Restrictions on Loan Applicants
Los Angeles Times | July 1, 2012
The withdrawn policy change, which had been scheduled to take effect Sunday, would have affected borrowers with collections or disputed-bill accounts in their credit files.

Pay for Health Insurance or Pay the Penalty?
Houston Chronicle | June 29, 2012
Now that the Supreme Court upheld it last week, some small companies could opt to go a route that will save them thousands of dollars each year.

A Sober New Reality in Credit Downgrades for Banks
The New York Times | July 1, 2012
When a consumer’s credit score drops, it is hard to recover financially. Wall Street firms could face the same fate.

Timing the Market: 5 Signs It’s the Right Time to Buy or Sell
Trulia | June27, 2012
I’ve long marveled at how the prospect of buying or selling a home can transform the most patient poetry professor or the sweetest Sunday school teacher into a fast-talking, number-crunching, negotiator extraordinaire. Or, rather, it can make these sorts of people *think* they need to talk and act like wheeler-dealers! In my experience, this mostly involves ranting about “leaving money on the table” while they secretly quiver with the fear of making a mistake! 

(An excellent article and worth reading.  This has some great points worth passing along to clients that ask about timing the real estate market. ~Anthony)

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 6-26-2012


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

Retire Here, Not There: Washington
SmartMoney | June 25, 2012
Forget Seattle. Here are four less expensive places to settle down in the Evergreen State.  (Guess which communities made the short list? Spokane is one of them! ~Anthony)

Mortgage Refi Boost May Be Short-lived
HousingWire | June 25, 2012
The refinancing surge on government-backed mortgages may run out in August, bank analysts said Monday.

Avoid Fireworks at the Family Summer Home
The Wall Street Journal | June 25, 2012
A jointly owned property comes with a host of issues that need to be spelled out and formalized to avoid any family squabbling down the road.

New-home Sales Rise
The Washington Post | June 25, 2012
Americans bought new homes in May at the fastest pace in more than two years.

Senate Bill Would Drive Up Flood-Insurance Premiums
The Wall Street Journal | June 25, 2012
Vacation homes and commercial properties in flood-prone areas could see their flood-insurance premiums more than double over a four-year period under a bill poised to clear the Senate this week. (We may finally have resolution and certainty for an extended period on flood insurance.  It sounds like we’re close anyway. ~Anthony)

5 Projections of Where the Housing Market’s Headed
RealtorMag | June 25, 2012
Real estate markets across the country are inching their way to a slow recovery after bottoming out, according to several real estate economists who spoke at a forum hosted by the National Association of Real Estate Editors.

SEC stops $100 million real-estate based Ponzi scheme
HousingWire | June 25, 2012
The Securities and Exchange Commission filed a complaint against a man accused of running a $100 million real estate based Ponzi scheme in Utah.

 

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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