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Real Estate News Today 7-10-2012


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

How the West is winning on home prices: Clear Capital
HousingWire | July 10, 2012
Quarterly home values in June improved nationally, continuing a positive trend from the spring. National prices rebounded with quarterly and yearly gains of 1.7%, according to Clear Capital, which forecast continued growth through the remainder of the year.

Georgia Bank Closes as Authorities Search for Missing Banker
The MReport | July 9, 2012
A Georgia bank closed Friday, with state authorities appointing the FDIC as receiver. The banker, accused of embezzling millions from the shuttered institution, remains missing after a two-week absence.

Want a Jumbo Home? You Need a Jumbo Mortgage
Fox Business | July 9, 2012
Looking to buy a larger, luxurious abode? A jumbo mortgage may be right for you. (This is a great explanation of a jumbo loan. ~Anthony)

Risks of a Short Sale
Fox Business | July 6, 2012
Buying a home listed as a short sale can result in dramatic savings—but it’s not without risks. Despite the name, short sales can be a long process, taking months to complete, and there’s a risk of losing the deal and the money invested.  (What are some other risks that the author didn’t mention that buyers AND sellers should be aware of? ~Anthony)

Consumer Bureau Proposes Mortgage Disclosure Form
The Wall Street Journal | July 9, 2012
Mortgage borrowers drowning in paperwork may get a concise disclosure of interest rates and fees to help with comparison shopping under a proposal announced Monday by a federal regulator.

Foreclosures Were Down in May From a Year Ago
San Jose Mercury News | July 9, 2012
The latest national foreclosure report just released by data provider CoreLogic shows fewer foreclosures were completed nationwide in the month of May compared to the previous year.

May Foreclosure Starts Nearly Triple Sales: LPS
DSNews | July 9, 2012
In May, foreclosure starts outnumbered foreclosure sales by a near 3-1 ratio, according to report from Lender Processing Services (LPS).

Housing Healing in More U.S. Cities
The Wall Street Journal | July 9, 2012
Home builders are cheering the latest Improving Markets Index, which suggests the sector may be finding its footing again.

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 6-8-2012


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

Fed Chairman Warns Congress of ‘Fiscal Cliff’ Risks
The Los Angeles Times | June 7, 2012
Fears of a new recession grow as Bush-era tax cuts are set to expire Dec. 31 and automatic spending cuts are set to follow.

U.S. Homes Actually Got Bigger During Ugly 2011
CNBC | June 7, 2012
For the first time in four years, the size of the average new American house increased slightly in 2011 -– to 2,480 square feet from 2,392 square feet in 2010, according to new figures from the Census Bureau.  (I have a friend who was in the big builder business for years that made this argument a few years ago: The reason the average home size was shrinking was NOT that most Americans wanted a smaller home.  It was simply that the average buyer could afford less than they used to.  That seems to be proving true in that as the economy slowly recovers, the average home size is now increasing.  Thanks Larry! ~Anthony)

In New Meetings with CFPB, Mortgage Lenders Find More Questions than Answers
Reverse Mortgage Daily | June 7, 2012
Mortgage industry representatives have been meeting with CFPB officials to talk about uncertainties and concerns regarding the CFPB’s plans to establish new loan originator compensation rules.

Millions of LinkedIn Passwords Reportedly Leaked Online
CNET June 6, 2012
A user in a Russian forum says that he has hacked and uploaded almost 6.5 million LinkedIn passwords.

CoreLogic: Nearly 4 Million Homes at Risk for Storm Surge Damage
DSNews | June 7, 2012
CoreLogic’s third annual Storm Surge Report, released Thursday, showed that just over four million homes in the United States are at risk of hurricane-driven storm surge damage.

Google Launches 3D Maps to Stay Ahead of Apple
The Wall Street Journal | June 6, 2012
Google unveiled an expansion of its Google Maps and Google Earth services-including 3-dimensional maps-in a move that ups the ante ahead of an anticipated new mapping service from rival Apple.

REO Price Increases Bode Well for Overall Market
RealtorMag | June 7, 2012
Recent price increases with bank-owned homes are helping to provide an overall boost to the housing market, a recent report from Clear Capital says. 

For those of you that have asked what you can do for the Erickson family: 

Donations for the Erickson family can now be deposited at Washington Trust Bank or made in the name of:
The Jay and Katrina Erickson Memorial Fund
c/o Stewart Title
606 W. 3rd Ave
Spokane, WA 99201

 

Please pass this along to anyone you think may be interested. 

 

The grandparents are now at the Chitokoloki Mission Hospital in Zambia picking up the two little girsl to bring them back to the US.  The president of Zambia declared a day of mourning for the Ericksons and thousands of people from all over Zambia attended the funeral.  There are lots of updates and pictures on the site.

Marina_Coral  

 

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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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Posted by on June 8, 2012 in Real Estate news

 

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Real Estate News Today 5-1-2012


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

Living With Parents is a Drag . . . In Several Ways
The Washington Post | April 30, 2012
The recession has reduced the rate at which Americans set up new homes or apartments by at least half. Although the number of new households has begun to recover over the past year, its growth rate continues to lag behind its historic pace, according to Census Bureau statistics.

Federal Reserve: Banks to Increase Real Estate Loan Exposure
HousingWire | April 30, 2012
Borrower demand for prime residential mortgages is strengthening, causing some banks to anticipate increasing their exposure to such loans over the next year.

Ten Years Later: Erpenbeck Scandal Still Stirs Emotions
Cincinnati Enquirer | April 30, 2012
Ten years ago Charles Mitchell bought his dream home from the Erpenbeck Co. The former Covington police officer and now retired school bus driver spent his life savings on the $205,000 brick house with an attached two-car garage.

Freddie, Fannie Departures Escalate
The Wall Street Journal | April 30, 2012
Concerns are growing about departures at mortgage-finance giants Fannie Mae and Freddie Mac, a situation that some executives argue is making it difficult to manage the companies and their $5 trillion mortgage business.

Must-Have Gadgets for 2012
The Washington Post | April 30, 2012
Here are some of the must-have gadgets that have been creating some buzz. 

REO Prices Increase, Fair Market Prices Drop, Home Values Stabilizing
DSNews.com | April 30, 2012
According to data from Clear Capital, over the last year, REO prices have increased 5.5 percent, while fair market prices dropped 2.9 percent.

Mobile app to mitigate risks for notaries and firms that employ them
HousingWire | April 30, 2012
A new smartphone app by CivilMap aims to mitigate risks involved for notaries and the companies that employ them. In a statement, the creators said the product would be a step forward in organization and legal compliance for notaries.

I include the article below just to highlight what seems to me to be another misleading headline. The reporter suggests with the headline she writes that you and I cannot get a loan if we have less than a 720 score.  If you read the article, you’ll see that is in fact not at all what she is saying. The headline grabs attention, but it doesn’t reflect the facts. If I’m wrong, I’m confident my faithful readers will let me know. 

(:-) ~Anthony

Lower than 720 FICO score? No mortgage for you!
HousingWire | April 30, 2012
A survey released Monday by the Fed told us something we’ve known for a while (well, since the housing bust): Those with bad credit can’t get a mortgage. 

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 1-9-2012


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

Fannie Mae survey shows more confident consumers
HousingWire | January 9, 2012
More Americans interviewed by Fannie Mae for its national housing surveyare optimistic about their financial prospects and the housing market in the coming year.

Home Prices Down in 2011, but Market Stability Forecast for 2012
DSNews | January 8, 2012
While year-over-year home price measurements notched down in 2011, prices are expected to see a slight uptick in 2012, according to Clear Capital.  Should the valuation company’s predictions ring true, it would be the first time since 2006 that the change in annual home prices has landed in positive territory.

Unemployed with Mortgage Trouble? Freddie, Fannie to Expand Help
The Wall Street Journal | January 8, 2011
Job growth may be picking up, but the ranks of unemployed remain large, and plenty of Americans are trying to figure out how to pay the mortgage while they’re out of work.

Housing Looms as Strong Voting Issue in Presidential Election
Los Angeles Times | January 8, 212
Although fixing the sagging economy is the biggest concern for potential voters, four national surveys undertaken by real estate organizations indicate that housing is also a major issue.

‘Renter Nation’ Rages on as New Reality in U.S.
USA Today | January 7, 2012
Despite record low mortgage rates and rising affordability in most U.S. housing markets, rent is the new reality for former home owners and new households alike.

Five Myths About the American Dream
The Washington Post | January 8, 2012
Few ideas are as central to American self-identity as the “American dream.” Politicians invoke it, immigrants pursue it, and despite unremittingly negative economic news, citizens embrace it. But what is the American dream?

Bank Regulators to Allow Leeway on Capital Rule
The New York Times | January 8, 2012
The oversight panel of the Basel Committee on Banking Supervision said that the rule did not mean banks would never be allowed to dip below required levels.

Commercial Real Estate Stalls After Rebounding
Los Angeles Times | January 9, 2012
Prices level out after reaching 10% of their record highs in a tug of war between investors’ desire for low interest rates and the fear that a faltering economy might prevent any profit.

From the National Association of Realtors®:

Which States Have the Highest Down Payments?
Nationally, the average down payment on a home is 12.29 percent, but home buyers are putting down even more on their home purchase in some states.

Freddie Loosens Credit Score Requirement for Refis
Freddie Mac announced the elimination of its minimum credit score requirement for borrowers wanting to refinance, but they must have at least 20 percent equity in their home.

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 11-7-2011


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

Occupied Oakland Promotes Occupying Vacant Properties
DSNews.com | November 4, 2011
The Occupy Oakland group is starting a new wave of occupations. They intend to occupy vacant properties.  The Occupy Oakland group announced on Twitter earlier this week that its general assembly “just passed a proposal to encourage the occupation of bank-owned/foreclosed and abandoned properties across #Oakland.”  (While I withhold comment on the whole “Occupy” movement, I will say that this strategy will NOT help the real estate and housing economy to recover; and would in fact hurt the chances of reselling those properties and getting those asset dollars back into the working economy.  ~Anthony)

Lobbying Titans Square Off Over Loan Limits
The Wall Street Journal | November 4, 2011
Influential housing and banking industry lobbying groups are clashing on Capitol Hill over whether to restore higher limits on the size of government-backed mortgage loans.

Home Price Growth Has Dissipated With the Summer Heat: Clear Capital
DSNews | November 4, 2011
Temperatures are falling, and so are home prices in most local markets. Clear Capital says it’s expecting another long winter as the housing industry tries to cope with the downward forces of weak demand, record-low consumer confidence, and distressed inventory.

First-Time Defaults in Private-Label MBS Edge Up in October
HousingWire | November 4, 2011
First-time defaults on private mortgages edged up to a rate of 0.89% in October, a slight increase from this segment’s default rate of 0.86% in September, a new report from Amherst Securities Group said Friday.

More Problems are Found With Home Buyer Tax Credits
The Los Angeles Times | November 6, 2011
An audit shows the IRS has been sending notices to taxpayers that either inform them they owe no repayments on their credits when they actually do, or demand repayments from recipients who legally owe nothing.

USDA Mortgages an Affordable Option
NASDAQ | November 5, 2011
If you’re looking for an affordable and obtainable mortgage, don’t overlook a USDA Rural Development Loan.

Lower Mortgage-loan Limit has Yet to Kill Off Market
The Seattle Times | November 7, 2011
Potential homebuyers are now looking for financing from generally higher-cost, private sources with stricter lending guidelines if they need to borrow more than $506,000.

Finding More Flaws in HUD’s Accounting of HOME Program
The Washington Post | November 6, 2011
The calls started in mid-May, two weeks before a looming congressional hearing. Staff members across the vast U.S. Department of Housing and Urban Development were racing to check in with hundreds of local agencies to determine the status of housing construction projects for the poor.

From the National Association of Realtors®:

More Adult Children Move Back in With Parents
The “doubling-up” trend of adult children moving back to their parents’ home cuts into the formation of new households and is being felt in the housing market, says the chief economist for Moody’s Analytics.

Android Users: Beware of QR Codes, Expert Says
The scannable bar codes have become a popular marketing tool but one security expert is telling Android smartphone users to watch out before they scan.

Maximize Your Business Potential on LinkedIn
LinkedIn is filled with business potential for real estate professionals. Start by creating a strong profile to make a great first impression. From there, utilize LinkedIn’s resources to connect with potential clients. Here are some tips from RealtyBizNews.  (Once you’ve done all that, then connect with me at http://www.linkedin.com/in/anthonycarollo ~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

 

 

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