RSS

Tag Archives: Ben Bernanke

Real Estate News Today 7-18-2012


Check out and LIKE us on Facebook to follow other industry news!  Facebook

A borrowers guide to the mortgage application
MSN | July 2012
A mortgage application’s purpose is to help the lender decide whether to lend money to the borrower. But the industry-standard Uniform Residential Loan Application, also known as Fannie Mae Form No. 1003, is more complicated than that straightforward intent might suggest.  (This author provides a good overview of the 1003 loan application.  The comments below the article are pretty good too, some good thoughts and a few chucklers. ~Anthony)

U.S. Economic Fears Shift Back Home
The Washington Post | July 17, 2012
For much of the year, economists worried about the impact of the European slowdown on the U.S. Now, analysts say the fast-approaching “fiscal cliff” poses the biggest threat.

The Economy Stinks, But Housing Keeps Picking Up
The Wall Street Journal | July 17, 2012
As the broad economy continues to struggle, the housing market — one of the most beleaguered pockets of the economy for years — continues to exhibit signs that the worst is in the past.

How to Hunt for Talent on Social Media
The Washington Post | July 16, 2012
Many employers now use the sites to vet applicants. But they can also be used to actively seek out promising candidates.

Treasuries Rise Before Bernanke on Slower Growth Bets
Bloomberg | July 18, 2012
Treasuries rose, pushing 10-year yields toward a record low, before Federal Reserve Chairman Ben S. Bernanke starts his second day of testimony to Congress amid speculation the U.S. economic recovery is faltering.

Fighting back against lowball home appraisals
MSN | July 2012
Record-low interest rates are a boon for homebuyers and homeowners seeking to refinance. But low appraisals are making it difficult or even impossible for some borrowers to take advantage.  (The author provides what seems like some good information but I wonder: Is it realistic? ~Anthony)

Ten Apps Every Homebuyer Should Have
Fox Business | July 18, 2012
When it comes to staying organize and efficient during the home-buying process your best tool might already be in your pocket: your smartphone. Whether you are buying a house, getting a mortgage or doing some remodeling, here are 10 must-have real estate apps.

Homeownership: The American Dream
The KCM Blog | July 18, 2012
As a real estate professional, it’s important to understand, and remind yourself, that homeownership really is the American Dream and your job is be the guardian and guide to make that dream a reality. This is especially important in a market where some people may be misinformed about the benefits and possibilities of buying a home.  (I’ll say it again, the folks at KCM write a wonderful blog.  If you’re in the real estate industry, this one is worth reading. ~Anthony)

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

 

Tags: , , , , , , ,

Real Estate News Today 5-2-2012


Do you like what we do?  Like us on Facebook and show your appreciation!  Facebook

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

Mortgage Purchase Applications Rose Last Week
CNBC | May 2, 2012
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.1 percent in the week ended April 27. (Perhaps more importatly, 30 year fixed rates declined to 3.69% which is a decline from  3.72% the previous week.  See Thirty-Year Fixed Rate Mortgage Hits 3.69%: Zillow  from The MReport.com ~Anthony)

Ability-to-Repay Rule for Mortgages Nears CFPB Approval
Bloomberg | May 1, 2012
The director of the Consumer Financial Protection Bureau is aiming to discourage lenders from making home loans with risky features and outlining steps they must take to verify borrowers’ finances, as part of the “qualified mortgage” or QM regulation.

Wells Fargo Doubles Down on Housing
HousingWire | May 1, 2012
Wells Fargo has thrown caution to the wind and is aggressively writing new business in both residential and commercial real estate loans.

Renters Really Prefer Owning, Builder Survey Says
The Wall Street Journal | May 1, 2012
A survey from PulteGroup — one of the nation’s largest home builders — has found a surprising result: Many renters want to buy homes.

Bad Models Mistook Housing Bust for Dot-Com Bubble
Bloomberg | May 1, 2012
In a speech last month about the financial crisis, Federal Reserve Chairman Ben S. Bernanke trenchantly noted that the initial losses from the dot-com bust were about the same size as those from the housing meltdown — yet the two episodes had very different economic consequences.

Foreclosures Held Steady in March
Los Angeles Times | May 1, 2012
The number of U.S. homes struggling through foreclosure held steady in March but fell from a year earlier, new data show, indicating that the huge wave of foreclosures that some housing experts keep predicting isn’t even a whitecap yet.

Jobs Growth Seen Rebounding in April
Reuters | May 1, 2012
Hiring by U.S. employers likely rebounded in April, which could ease worries the economy has stumbled into a soft patch.

What Smart Buyers Should Know About Time Shares
USA Today | May 1, 2012
Timeshares may sound like an inexpensive way to live a little large once a year, but they will cost you for years to come unless you find someone to buy it.

Attacks Against Real Estate Professionals Surge
RealtorMag | May 1, 2012
The number of assaults against real estate professionals is on the rise, with the nature of attacks becoming more violent and sometimes deadly.  (There are some eye-popping numbers in here that should make us all a little more cautious.  One item of note is that the category includes landlords, appraisers, etc. It didn’t say anything about title/escrow people.  ~Anthony)

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

 

 

Tags: , , , , , , ,

Real Estate News Today 4-26-2012


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

How the Web Is Ruining Real Estate
RealtorMag | April 2012
Experts in real estate technology argue that online media is causing real problems for practitioners and consumers and how they connect with each other. What are these issues, and what can you do about them? (Agree or disagree?  Let me know at acarollo@stewart.com Many thanks to the Spokane Association of Realtors for passing along this gem! ~Anthony)

Stunned Home Buyers Find the Bidding Wars Are Back
The Wall Street Journal | April 26, 2012
A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back. From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today’s are a result of supply shortages.

Donovan: No Fannie, Freddie Reform ‘Any Time Soon’
HousingWire | April 26, 2012
Department of Housing and Urban Development Secretary Shaun Donovan said the Obama administration doesn’t plan to introduce Fannie Mae or Freddie Mac reform “any time soon.”

Fed Cuts U.S. Growth Forecast for 2013 and 2014
The New York Times | April 26, 2012
The Federal Reserve chairman, Ben S. Bernanke, on Wednesday dismissed proposals to escalate the Fed’s economic stimulus campaign as “reckless,” arguing that the costs would be high and the benefits uncertain.

Facing Scrutiny, Builder Horton Changes Course on Mineral Rights
The Wall Street Journal | April 26, 2012
Home-builder D.R. Horton has ended a policy of keeping mineral rights in North Carolina. As we’ve written, the company, the nation’s largest builder, has been keeping the right to drill for natural resources under homes it sells nationwide for years.

Costco: Want a mortgage with your 60 rolls of toilet paper?
HousingWire | April 26, 2012
Costco the one-stop-bulk-shop haven, offers everything you need in a home: Furniture, flooring, groceries and 60-roll toilet paper packs. Now Costco is going to help you finance your home, too. (Be assured I’m not a fan of doing business this way. But if Costco is hopping into the mortgage business, that’s certainly newsworthy. My favorite line? “And while grocery store banking is certainly convenient (car loan with your granola bar, anyone?) there are definitely some drawbacks. Namely, the complete lack of personal service.” ~Anthony)

Mortgage Rates Hover Near Record Lows…Still
The MReport | April 26, 2012
Debt crises in Europe once more left interest rates for mortgage loans near record lows.

Private Island Homes
Yahoo! Real Estate | April 25, 2012
Taking up residence in the middle of an ocean, lake or river isn’t for everybody. But for anyone who yearns for a property line that laps to shore, options abound. Architecturally expressive abodes for the aesthetically inclined, secluded dwellings for the nature-loving set, spacious compounds for the party minded, and unforgettable retreats for families are just the beginning. (This contribution comes to you courtesy of my 15 year old daughter Emily.  She’s a peach.  (:-)  I love you Emily! ~Dad)

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

 

Tags: , , , , , , ,

Real Estate News Today 4-10-2012


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

The man cave, that great getaway, has become commercialized
The Seattle Times | April 6, 2012
The time has come to leave the man cave — to bulldoze the bro bunker, to kick the kegerator to the curb. The safe house for the Y chromosome is no longer safe; the perimeter has been breached. The man cave is no longer a tenable refuge from the real world.

U.S. to Propose New Mortgage Lending Rules
The Washington Post | April 10, 2012
The federal government plans to propose new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate accounting of their monthly mor
tgage payments.

Proposed California Bill Imposes Real Estate Fee for Affordable Housing Fund
HousingWire | April 9, 2012
California Senate Bill 1220, or the Housing Opportunity Trust Fund Act of 2012, proposes the creation of a fund that would raise revenue by imposing a $75 fee on all real estate instruments recorded at the county level.

Baby Boomer Market Bust?
Los Angeles Times | April 9, 2012
As 70 million people born between 1946 and 1964 begin retiring, the big question is: Will they bail out of stocks and other assets to pay for their golden years?

Why Small Businesses Fail to Grow
The Washington Post | April 10, 2012
It takes more than passion. Here is a list of 10 crucial factors.

Bernanke Says Banks Need Bigger Capital Buffer
Reuters | April 9, 2012
Federal Reserve Chairman Ben Bernanke said on Monday banks need to have more capital at hand in order to ensure the financial system is stable.

BofA Makes Changes to Trim Short Sale Timeline
DSNews | April 9, 2012
Starting Saturday, April 14, real estate professionals working with BofA will be required to submit five documents for short sales initiated with an offer.

Expectations Rising for Housing Market’s Spring Season
USA Today | April 10, 2012
The spring season typically runs March through June but may have started early this year because of unseasonably warm weather.

5 Reasons the US Hiring Slowdown in March might Signal a Weakening Job Market
The Washington Post | April 9, 2012
Economists mostly shrugged off news that U.S. hiring slowed in March as a one-month aberration warped by warm weather. But what if they’re wrong? What if the sharp drop in job creation signaled something more ominous?

Berkshire Hathaway unit buys Seattle residential brokerage
The Seattle Times | April 5, 2012
A real-estate subsidiary of Warren Buffett’s Berkshire Hathaway has acquired a Seattle residential real-estate brokerage.

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

 

 

Tags: , , , , , , ,

Real Estate News Today 3-29-2012


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

Breaking news from HousingWire: Freddie Mac mortgage rates back below 4%

Realtor Referrals Supply One-Third of Business for Lenders: Survey
The MReport | March 28, 2012
Referrals from real estate agents guide about one-third of mortgage-financing decisions for today’s homebuyers, according to a recent survey.  (Read on to find out the biggest reason why buyers DIDN’T use their agents recommended lender. ~Anthony)

Cordray to Chamber: I Come In Peace
The Hill | March 29, 2012
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray offered an olive branch Wednesday to one of his agency’s more fiery critics, the U.S. Chamber of Commerce.

Banking Regulator Calls for End of ‘Too Big to Fail’
The New York Times | March 29, 2012
An official at the Federal Reserve Bank of Dallas said that despite the financial crisis of 2008, a cartel of megabanks still hinders economic recovery.

Bernanke Says Too Early for Victory on U.S. Recovery
Bloomberg | March 28, 2012
Federal Reserve Chairman Ben S. Bernanke said unemployment remains too high, the recovery in the U.S. economy isn’t assured and policy makers don’t rule out any further options to boost growth.

Forecast Upbeat on Housing Recovery
The Wall Street Journal | March 28, 2012
The housing market may finally be on the path to a sustainable recovery, according to a new report, but it’s not the cork-popping celebration many under-water homeowners may have hoped for.

Trump Makes Return to Risk
The Wall Street Journal | March 28, 2012
Donald Trump’s appetite for real-estate risk has returned. He is doubling-down his bet on the Trump International Hotel and Tower Chicago, the second-tallest building in the city.

Combat Deal-Killing Low Appraisals
Realtor Magazine | March 28, 2012
About one in three real estate contracts were canceled in January, up from 9 percent the previous year. Lowball appraisals are mostly to blame, agents say.

Poll: Renters Want to Buy
Realtor Magazine | March 28, 2012
Fannie Mae’s quarterly national housing survey shows that renters want to purchase a home, but one thing has them spooked. (I was actually surprised at the “one thing” that’s keeping renters from moving toward a purchase. ~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

 

 

Tags: , , , , , , ,

Real Estate News Today 3-14-2012


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

15 of 19 Major U.S. Banks Pass Fed’s Stress Tests
The Washington Post | March 13, 2012
Federal Reserve says 15 of the 19 largest U.S. banks would remain healthy in a severe crisis, demonstrating the scope of the recovery of the nation’s financial system since it nearly collapsed in 2008.

And this next headline is for the “Glass-is-half-empty” crowd  J 

Four of 19 bank holding cos. Fail portion of stress tests
HousingWire | March 13, 2012

Four of 19 banks failed to meet at least one of the minimum capital ratios in the Federal Reserve‘s stress tests.

Bernanke says community banks strengthening
Yahoo! News | March 14, 2012

U.S. community banks are gaining strength even though the economy is improving only moderately, Federal Reserve Chairman Ben Bernanke said Wednesday.  (Bankers: Take a look at the very last line that quotes Mr. Bernanke regarding new regs. ~Anthony)

Mortgage Purchase Demand Rose Last Week: MBA
Reuters | March 14, 2012
Demand for home purchases picked up for the third week in a row last week, though applications for refinancing sagged, an industry group said on Wednesday.

New Rules Easing HARP Refinances
NASDAQ | March 13, 2012
There’s a big change coming in the HARP 2.0 program that will make it easier and faster for homeowners to refinance their underwater mortgages, and possibly save them several hundred dollars as well.

Nasdaq Finishes Above 3,000, Its Best Since Dot-Com Bubble
The New York Times | March 13, 2012
Stocks climbed to new heights in part on rosy retail sales data, pushing the broad market to levels last seen in June 2008 and the Nasdaq composite index past the 3,000 milestone for the first time since 2000.

Report: Investors Buying Foreclosures on West Coast
DSNews.com | March 13, 2012

For West coast states, the foreclosure wave is reported to be dying down as third parties, who are typically investors, snatch up foreclosed homes, according to the February 2012 ForeclosureRadar report, which only includes Arizona, California, Nevada, Oregon, and Washington.

Apartment Loans by Agencies Creating Bubble, Chandan Says
Bloomberg | March 14, 2012

Low-cost financing backed by the U.S. government is inflating the values of apartment buildings and threatening threatening to create a bubble, according to a report by Sam Chandan, a real estate economist.

Seniors, Young Adults Will Influence Housing
Realtor Magazine | March 13, 2012
Aging Baby Boomers and their “Echo Boomer” children will significantly impact trends in the nation’s housing market over the next 20 years, according to a new report released by the Bipartisan Policy Center.

A ‘Mega Force’ Emerging in Housing?
Realtor Magazine | March 13, 2012
This growing segment of home buyers continue to flood the market and are expected to “have an exponential impact on housing sales,” according to a new housing report.

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:   LinkedIn     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

 

 

 

Tags: , , , , , , ,

Real Estate News Today 2-13-2012


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

New Commercial Real Estate Statistics from CoStar
Ted C. Jones Blog | February 9, 2012
CoStar, a premier provider of real estate information, now has the best series for commercial real estate sales volumes, as unlike others, it is not restricted to minimum price levels nor to specific types of ownership. 

Community Banks and Credit Unions Brace for End of Fannie, Freddie
The Washington Post | February 12, 2012
As the Obama administration forges ahead this spring with plans to wind down mortgage giants Fannie Mae and Freddie Mac, community banks and credit unions are bracing for the impact.

Bernanke: No ‘Silver Bullet’ for Housing Woes
The Wall Street Journal | February 11, 2012
What more can the Federal Reserve do to help the home-building industry? That was the question in the air when Fed Chairman Ben Bernanke took the podium Friday at the National Association of Home Builders’ International Builders Show for a keynote speech.

Mortgage problems? Turn Your House Into a Billboard
Reuters | February 13, 2012
When they saw the house on El Dorado Drive in this Los Angeles suburb being painted a startling orange and green and giant billboards hung on the outside, Scott and Beth Hostetler’s neighbors were initially angry and confused. Some even considered calling the police.

Gallup Poll Shows Economy Still Top Worry for Most Americans
HousingWire | February 11, 2012
Most Americans are dissatisfied with the economy and with policymakers in Washington, but a certain amount of mild optimism started to emerge late last year, a new Gallup survey said.

In Today’s Topsy-turvy Housing Market, Cash Rules
Star Tribune | February 11, 2012
When Chris and Diane Finney decided to buy a bank-owned condo in St. Paul, they knew there would be competition. Their strategy? Offer less — but offer cash. While others said they would pay more, they needed to finance the deal. The bank took less and took the cash.

White House Steps Up Pressure for Fannie, Freddie Mortgage Write-downs
The Hill | February 12, 2012
The Obama administration signaled that it is stepping up pressure on Fannie Mae and Freddie Mac to provide mortgage-principal reductions for holders of government-backed loans, a move strongly supported by congressional Democrats. 

From the National Association of Realtors®:

Income, Job Gap Between Young and Old Widens
Young Americans have it rough. In fact, nearly 70 percent of the public says it’s more difficult for young adults today than their parents’ generation in finding a job, buying a home, and saving for the future.

Squatters Busted With Surprising Finds in Miami Home
When a home falls into foreclosure and is left abandoned, you can never be too sure what you may come across. Authorities certainly weren’t expecting this.

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

 

 

Tags: , , , , , , ,

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

Find me on:   LinkedIn     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

 

 

 

Tags: , , , , , , ,

Real Estate News Today 1-6-2012


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

Steve Francks from the Washington Association of Realtors spoke at the SAR Officer Installation lunch yesterday and reminded us of three major threats to the housing industry in 2012, all very valid: The possible elimination of the Mortgage Interest Tax Deduction, the possible introduction of the Qualified Residential Mortgage requirements by the CFPB (minimum 20% down payment?!?), and the possible fate of the GSEs Fannie Mae and Freddie Mac.  All things to watch for.  Thanks Steve!  Congrats to all of the officers installed, you’ll each do a great job serving our industry. ~Anthony 

Five Issues for Housing in 2012
The Wall Street Journal | January 5, 2012
Trying to figure out where the housing market is headed in 2012 offers a strong sense of déjà vu: The market feels just as it did at the beginning of 2011, when many pundits optimistically predicted that housing would finally hit bottom.

America the mortgage: All your info, one click away
HousingWire | January 5, 2012
Ben Bernanke’s letter on housing, which suggests an REO-to-rental program, garnered plenty attention focused on that idea alone.  But there is something equally notable: the Federal Reserve chairman and his teams of researchers also want an online database on every single mortgage lien in America.

U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%
Bloomberg | January 6, 2012
U.S. employers added more workers to payrolls than forecast in December and the jobless rate declined to an almost three-year low, showing that the labor market gained momentum heading into 2012.

Mortgage Refinancing Plan Would Harm Banks: Dick Bove
CNBC | January 6, 2012
Speculation that a new mortgage refinancing plan may be introduced drove bank stocks higher Thursday, but noted banking analyst Dick Bove believes investors actually got it wrong. He told Larry Kudlow that a program like that would actually “harm” banks.

Obama’s Consumer Watchdog Targets Mortgage Firms
Bloomberg | January 6, 2012
Richard Cordray’s appointment as director of the U.S. Consumer Financial Protection Bureau moves the new agency nearer to fulfilling its intended role as a one- stop shop for borrower safeguards.

Freddie Cuts Some Refi Credit Score Requirements
HousingWire | January 5, 2012
Freddie Mac eliminated the minimum credit score requirement for borrowers seeking a mortgage refinance from their existing servicer, as long as they have at least 20% equity in their home, according to guidance released Thursday.

Rush Limbaugh, Mortgage Analyst?
The Wall Street Journal | January 5, 2012
The conservative talk show host cannon balled into housing and mortgage market politics on Thursday, picking up on a longstanding rumor that the Obama administration would engineer a massive refinancing program.

From the National Association of Realtors®:

3 Predictions for Distressed Properties in 2012
There are certain trends regarding distressed properties that can be predicted with some level of assurance. Here are a few important ones for the coming year.

Low Vacancies, Higher Rents Keep Rental Market Booming
The apartment vacancy rate is at its lowest level since late 2001 as the rental market continues to soar.

Home Owners Rent Out Driveways for Extra Cash
Home owners looking for extra money are turning to their largest asset: their house. And they’re realizing their driveway or garage may be a money-maker.

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

 

 

Tags: , , , , , , ,

Real Estate News Today 12-15-2011


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

Top 10 Tax Unfriendly States for Retirees Per Kiplinger
Ted C. Jones Blog | December 15, 2011
Kiplinger has analyzed states on economic friendliness to retirees based on higher-than average taxes including income, real estate, sales, estate and inheritance taxes.  The 10 most tax unfriendly are included in the table

Foreign homebuyers clicking on depressed US housing markets
HousingWire | December 14, 2011
Foreigners looking to purchase homes in the U.S. are increasing their online search activity for bargains, as sliding home prices continue to attract investors from around the globe- especially Canada.

RealtyTrac Reports 14% Dip in Foreclosures, But New Wave Expected
HousingWire | December 14, 2011
Foreclosure filings in the United States edged lower in November, but the potential for a new foreclosure wave in early 2012 is possible, RealtyTrac said.

Mortgage Debt to Shrink Over Next Several Years: KBW
HousingWire | December 13, 2011
Even if home prices and household leverage stabilize next year, mortgage debt outstanding will continue to contract over the next several years because of high credit losses, according to analysts at financial services firm Keefe, Bruyette & Woods.

Government Shutdown Preparations Begin as Funding Talks Stall
The Washington Post | December 14, 2011
The Obama administration is alerting employees to the possibility of a partial government shutdown if talks on bills to fund the government and extend the payroll tax cut collapse later this week.

Payroll Tax Talks Come to a Standstill
The Washington Post | December 15, 2011
With a Friday deadline fast approaching, the threat of a shutdown grew more urgent as negotiations over how to extend a payroll tax holiday for 160 million Americans and a separate omnibus spending bill remained stalled.

Freddie: Low Mortgage Rates to Hang Around Next Year
The Wall Street Journal | December 14, 2011
Mortgage rates are expected to remain very low at least through mid-2012, while housing activity improves slightly, according to Freddie Mac‘s economic and housing outlook released Wednesday.

Should ‘Occupy’ Promote Strategic Defaults?
The Wall Street Journal | December 15, 2011
Over the past week, anti-bank demonstrators have launched an “Occupy Our Homes” movement, a campaign that uses a handful of highly publicized cases where homeowners have resisted eviction in foreclosure.

GSEs Extend Appraisal Implementation Deadline
HousingWire | December 14, 2011
Fannie Mae and Freddie Mac extended the deadline for how lenders will submit property appraisal data to July 2012.

Bernanke Tells Senators Fed Won’t Bail Out Europe
The Wall Street Journal | December 14, 2011
Federal Reserve Chairman Ben Bernanke told Senate Republicans Wednesday that U.S. taxpayers won’t bail out Europe, even as he warned that the debt crisis there can really hurt the economy here.

US House Panel Advances Mortgage-Market Overhaul
The Wall Street Journal | December 14, 2011
U.S. House Republicans advanced legislation Wednesday designed to reduce the U.S. mortgage market’s dependence on government support and prepare for the eventual elimination of mortgage giants Fannie Mae (FNMA) and Freddie Mac (FMCC).

 

Anthony Carollo 2007 EMAIL  

 

Join My List

Find me on:   LinkedIn     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

 

 

Tags: , , , , , , ,

 
%d bloggers like this: