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Tag Archives: December 12 2011

Real Estate News Today 12-13-2011


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

Mortgage Default Risk Edging Toward ‘Normalcy’
DSNews | December 12, 2011
Lenders and investors should expect defaults on mortgage loans currently being originated to be 31 percent higher than the average of loans originated in the 1990s, according to a new report from University Financial Associates (UFA).

FHFA Sues City of Chicago over Vacant Property Ordinance
DSNews | December 12, 2011
The Federal Housing Finance Agency (FHFA) filed a lawsuit in federal court Monday against the city of Chicago contesting a local ordinance that makes lenders liable for the upkeep of vacant homes before they take possession of the title.

Getting Escrow Funds Released No Easy Deed
New Jersey Business | December 12, 2011
A homeowner recently sold his home but the buyer’s attorney is holding funds in escrow. Why? Because a previous mortgage was never paid off. Read on find out how the homeowner was protected because he had title insurance.

Surging Student Loan Debt Threatens Homeownership
HousingWire | December 12, 2011
College graduates may not be able get onto the property ladder as soon as they’d like due to the costs associated with funding higher education.

Congress Edges Toward a Compromise on Spending
The Washington Post | December 12, 2011
It appears exceedingly unlikely that lawmakers will let the government close down at the end of this week.

Principal Reduction Outpaces Short Sales Under HAMP
HousingWire | December 12, 2011
A borrower is more likely to get a principal reduction than a short sale or deed-in-lieu of foreclosure under the Home Affordable Modification Program.

Washington Prepares to Use Fannie and Freddie as a Gift Card
HousingWire | December 12, 2011
Congressional leaders want to use the government-sponsored enterprises as a gift card for the taxpayers.

U.S Home Buyers Beware – This Is Not Your Father’s Housing Market
International Business Times | December 11, 2011
It’s a cliche’, but it’s also a truism: there’s nothing like owning a home. Home ownership provides many advantages and, at least since World War II, owning a home has become part of the American dream.

Federal Reserve Report: Home Flipping Drove Housing Bubble in Nevada, California, Other States
The Washington Post | December 12, 2011
A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other states.

From the National Association of Realtors®:

More Contracts Come With a Contingency
More contingency agreements are popping up that give buyers more time to try to sell their home first before they close on the house they want, real estate agents are reporting.

Banks, GSEs Spend More Money to Spruce Up REOs
In some cities, foreclosed homes have been found to shave up to $17,000 off nearby property values. But more banks and GSEs are spending money to better maintain REOs so they don’t hamper values as much.

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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  

 

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

 

 

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