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Real Estate Today 9-20-2012


10 best states for first-time homebuyer help
MSN Real Estate | September 2012
Achieving the American dream has long been associated with owning a home. Yet for many of today’s would-be homebuyers, economic uncertainty has called that dream into question.  (OK experts, here is your chance to shine!  What great programs do we have available to first-time homebuyers in the Northwest? ~Anthony)

Some Markets See Inventories Cut Nearly in Half
RealtorMag | September 19, 2012
The number of homes for sale in the last year is falling the most in California, with eight of the top 10 biggest drops in inventories in the last year from metro areas in the Golden State. Many California metros are also seeing asking prices on the rise in the last year, too. (One NW area metro makes the list – which one is it?)

U.S. Banks on High Alert for Cyberattacks
Columbus Dispatch | September 19, 2012
A financial-services industry group warned banks yesterday to be on heightened alert for cyberattacks after Bank of America Corp. and JPMorgan Chase & Co. experienced unexplained outages on their public websites.

U.S. May Have Paid $1B in False Claims
The Washington Post | September 19, 2012
Report finds HUD may have paid hundreds of millions of dollars in mortgage aid to homeowners who did not qualify for the help.

Housing Recovery Nuanced at the Local Level
The Wall Street Journal | September 19, 2012
Today’s existing-home sales numbers from the National Association of Realtors, paired with today’s Census data on housing starts and a boost in builder confidence from earlier this week, paint a picture of housing on the mend.

Meet the New Boss: Big Data
The Wall Street Journal | September 20, 2012
At more and more companies, the hiring boss is an algorithm, as jobs that were once filled on the basis of work history and interviews are left to personality tests and data analysis.

Incomes Fell or Stagnated Last Year
The Wall Street Journal | September 19, 2012
The income of the typical U.S. family fell or was flat in almost every state last year, with the drop particularly steep in places where the economy has been hit hard by the housing bust.

Real Estate Investors Plan to Purchase More Homes in U.S.
BusinessWeek | September 20, 2012
Almost two-thirds of U.S. residential real estate investors plan to buy as many as or more homes in the next 12 months than they have in the past year even as prices rise, according to a survey released today.  

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Today I’d like to hear from real estate investors (or their agents):  What sectors provide the best opportunities?  What advice do you have for a prospective first-time investor?  What your personal market outlook for investment real estate?  (Both residential real estate and commercial real estate) 

  

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Posted by on September 20, 2012 in Real Estate news

 

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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  

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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 5-22-2012


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

Prices for Existing Homes See Strongest Gains in Six Years
The MReport.com | May 22, 2012
Existing-home sales rose to 4.62 million at a seasonally adjusted annual rate in April from a downwardly revised March rate of 4.47 million, the National Association of Realtors (NAR) said Tuesday. Economists had forecast the April sales pace would be 4.66 million. (Breaking news this morning!)

Housing Starts: The Problem with the Government’s Numbers
The Washington Post | May 22, 2012
The government’s monthly report on housing starts, a widely watched indicator of the nation’s economic health, turns out to have some problems. (What an enlightening article!  I was genuinely surprised by this one. ~Anthony)

HUD Multifamily Handbook to Get Update After 20 Years
HousingWire | May 21, 2012
A crucial handbook that provides general guidance for tasks associated with the Department of Housing and Urban Development involvement in multifamily projects will be revised by October.

Why This May Be the Ideal Time to Buy Real Estate
TIME | May 21, 2012
Well, it’s only taken half a decade, but the moribund real estate market is finally starting to show signs of life. If you were thinking about making a move on a piece of property, right now is possibly the best time.

A New Home For Computer Screens: The Face
The Wall Street Journal | May 21, 2012
The rise of Internet-connected smartphones and advances in display-projection technology are accelerating the development of devices that overlay digital images atop a person’s view of the physical world.

BofA Chief Says Dimon Will Do What’s Needed To Cap Losses
Bloomberg | May 21, 2012
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has the experience needed to manage the fallout from trading losses, and market disruptions haven’t been serious, Bank of America Corp. CEO Brian T. Moynihan said today.

Today we have two different views on home price bidding wars.  What has been your experience?  I’d love to hear it at acarollo@stewart.com

House price bidding wars are not making a comeback
HousingWire | May 21, 2012
If you’ve been following real estate news, there are many headlines claiming the price bidding wars are back and buyers are shocked to find themselves competing with other bidders to acquire distressed real estate at reasonable prices. Well, consider this blog post a dose of reality.

Prices Fall in April, 2-3 Bids Per Property: HousingPulse Survey
DSNews.com | May 21, 2012
If the buzz about bidding wars is true, Campbell/Inside Mortgage Finance HousingPulse Tracking Survey reported those accounts did not boost prices in its findings.

 

 

Anthony Carollo 2007 EMAIL  

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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 5-21-2012


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

FHA Ready to Ease Rules for Mortgages on Condos
Boston Herald | May 20, 2012
The revisions could remove at least some of the obstacles that have dissuaded condominium homeowner association boards from seeking FHA approvals or recertifications of their buildings for FHA loans during the past 18 months.

JPMorgan’s Home-Loan Debt in Europe Increases Anxiety: Mortgages
Bloomberg | May 20, 2012
JPMorgan Chase & Co. (JPM)’s holdings of home-loan bonds from outside the U.S. soared 35-fold in the past three years. Now, with its chief investment office facing scrutiny after a $2 billion trading loss, investors are raising concern the European market’s biggest buyer will pull back.

Economists More Upbeat About Job Growth, Housing
USA Today | May 20, 2012
A new survey shows economists are growing slightly more optimistic about recovery in the job and housing markets but expect other pillars of the economy to remain weak.

Celebrity Sellers Have Little Effect on Home Prices
The Los Angeles Times | May 19, 2012
Their internationally recognized names sell music and movie tickets. They promote perfumes and presidents. But when it comes to selling their own houses, celebrities often find that their cachet doesn’t pull in the cash.

Commercial Real Estate Follows Economy Into Recovery
RealtorMag | May 18, 2012
In his remarks yesterday at the Commercial Business Trends Forum during the Midyear Legislative Meetings & Trade Expo in Washington, D.C., NAR Chief Economist Lawrence Yun sounded a cautiously optimistic note regarding the state of the commercial real estate market.

Dearth of affordable rentals cause for concern, housing experts say
HousingWire | May 18, 2012
If a more renter-centric economy is the solution to America’s housing woes, policymakers and developers will have to tackle two issues first — falling incomes and rising rents, housing experts say.

BofA Offering Up to $30K in Relocation Assistance for Short Sales
DSNews.com | May 18, 2012
Just days after Bank of America officially announced its nationwide program offering up to $30,000 in relocation assistance for short sales, a Massachusetts-based real estate company revealed in a blog that one of its clients was approved to receive $10,000.

 

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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 4-12-2012


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

Foreclosures to Rent are a Hot Investment
Los Angeles Times | April 11, 2012
A new report predicts the market for foreclosed homes that are turned into rentals will be worth more than $100 billion this year.

CoreLogic: Best Markets for Single-Family Rental Investments
DSNews | April 11, 2012
Single-family rental investing is a $3 trillion market, according to a CoreLogic’s MarketPulse report, which further stated that the single-family rental market accounts for $21 million rental units, or 52 percent of the residential rental market.

Watchdog Blasts Housing Program for ‘Hardest Hit’
CNN Money | April 12, 2012
A federal-state program aimed at helping homeowners in states hardest hit by the mortgage crisis is falling far short of its goals, a federal watchdog said in a report released Thursday.

Foreclosures at Lowest Level Since 2007
The Washington Post | April 11, 2012
First-quarter filings fall to lowest levels since the housing collapse began nearly five years ago.

FHA Retreats on Lending Rule Change
Houston Chronicle | April 11, 2012
The Federal Housing Administration has backed off from a rule change that would have made it harder for potential homebuyers to get government-backed mortgages.

How ‘Shadow Inventory’ Hurts the Housing Market
Chicago Tribune | April 11, 2012
There were high hopes that 2012 would be the year when the housing market, battered by the explosion of the real estate bubble, would finally begin to recover. But any good news on the housing front has quickly been followed by negative news.

The Top 10 Dying Industries in the United States
The Washington Post | April 11, 2012
A new report from IBIS World looks at 10 industries in the United States that are demonstrating, as the researchers put it, “exceptionally sour performance.”

Buyer Urgency Improves, More See Now Good Time to Buy
Realtor Magazine | April 11, 2012
More home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon. 

BofA Announces Shortened Short Sale Process
Realtor Magazine | April 11, 2012
Bank of America announced it is refining its short sale process to streamline its approval process and reduce the wait in accepting offers and making it to closing. The changes are expected to trim the bank’s decision time in half — from 45 days or longer to 20 days, Inman News reports. 

 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 2-27-2012


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

Despite Falling Prices, Housing Burden Still High for Middle Class
The Wall Street Journal | February 24, 2012
Though home prices have fallen dramatically as a result of the housing bust, paying the monthly cost of owning or renting a home hasn’t become any easier for many middle-income Americans families, a new study finds.

Are Real Estate Agents Dinosaurs?
The Wall Street Journal | February 24, 2012
I got a surprising e-mail from a real estate broker this week. The topic: How real estate agents have become “dinosaurs,” done in by technology and a growing do-it-yourself ethos. It isn’t often that I hear from a stranger heralding her own profession as obsolete, so I called her.

Where Are All the Home Sellers?
The Wall Street Journal | February 24, 2012
Inventories of homes listed for sale in January dropped by 6.6% from December to 1.77 million, the eighth straight month that listings have declined. For-sale listings are 23.2% below year-earlier levels and at the lowest point since the housing bust accelerated five years ago, according to data from Realtor.com.

Economists: 2012 is Looking Up
Washington Post | February 26, 2012
Economists are increasingly confident that some pillars of the economy will improve this year, but they still remain cautious in their expectations on the overall pace of economic growth.

Wells Fargo to Expand GSE-Free Mortgage Lending
HousingWire | February 24, 2012
Wells Fargo finalized a new division built to originate mortgages outside of Fannie Mae and Freddie Mac guidelines.

Buffett Says Banks Victimized by Excesses of Evicted Homeowners
Bloomberg | February 27, 2012
Warren Buffett, who controls the biggest shareholding of the No. 1 U.S. mortgage lender, said banks were victimized by some homeowners who refinanced their loans before getting evicted.

Nearly 1 in 4 Households Use Over 1/2 of Income for Housing Costs
DSNews | February 24, 2012
Even with falling home prices, a study from the Center for Housing Policy found that affordability is still becoming increasingly out of reach for homeowners and renters.

Bank of America Scales Back Its Involvement in Mortgage Market
The Washington Post | February 26, 2012
Bank of America’s decision to stop selling new mortgages to Fannie Mae seemed a surprising move in a government-backed market in which few other options exist. But even before Thursday’s announcement, the bank had been scaling back its share in the mortgage market dramatically in the past year.

Beware: Mortgage Fees Are Rising
The Wall Street Journal | February 26, 2012
Increased fees are sneaking into the overall cost of most mortgages. But given the ultralow interest rates these days, it’s likely few borrowers will notice.

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 12-12-2011


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

Housing Ranks Only Behind Jobs for Voters: Survey
The MReport.com | December 9, 2011
Does housing matter to voters? A recent survey says yes – and finds that housing policy will rank higher for voters than even national security come 2012.

JPMorgan Warns Home Prices Face Another 5% Decline
HousingWire | December 9, 2011
Existing home sales could tick up in 2012, leading to the sale of 5.5 million units, but price declines are still expected for the next few months.

BofA Developing Foreclosure Rental Programs to Deal with Distressed Properties
HousingWire | December 9, 2011
Bank of America is looking at a new program to rent a home back to the borrower after foreclosure.

Thinking Deeply On Risky Lending
The Wall Street Journal | December 11, 2011
Many companies that collect mortgage payments hire outside firms to train employees and develop scripts for them to use when talking to borrowers. But Ocwen Financial Corp., which specializes in risky loans, has its own team of social psychologists.

Why Do Banks Fail Together In A Crisis?
CNBC | December 12, 2011
Watching Europe’s banks teeter on the brink of disaster because of their exposures to sovereign debt has an eerily familiar feel to it.

Gobbledygook or Not, It’s Still Credit
The Washington Post | December 12, 2011
Is it possible to create a simple credit-card agreement, one that doesn’t give you a migraine as you struggle to understand the terms and conditions that, if violated, could put you into decades of debt?

What Went Wrong with Foreclosure Aid Programs?
USA Today | December 12, 2011
Steven and Lisa Maultsby lost their Mississippi home to foreclosure this year. At the time, they thought they were being reviewed for a loan modification through the U.S. government’s foreclosure-prevention program.

Bank Credit Highest Since Before Lehman Bankruptcy as Expansion Continues
Bloomberg | December 11, 2011
U.S. bank credit is growing at the fastest pace in three years, giving the Federal Reserve confidence in the economic expansion’s staying power.

From the National Association of Realtors®:

Best Places to Invest in Real Estate
If you or your clients are considering taking on the role of landlord, here are the best cities to start investing in real estate, according to Money Magazine.

Flawed Appraisals Killing More Deals, NAHB Says
New-home builders have a gripe with appraisers: Stop comparing new homes with sparkling appliances and interior upgrades to distressed homes that have been sitting vacant and in disrepair.

Housing Still Great Investment, Americans Say
Sixty-two percent of Americans say that purchasing a home is a good investment over the next 10 years, according to a new study.

 


 

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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