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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 8-7-2012


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

Housing Market Shows Improvement Across All Regions
The Hill | August 6, 2012
Dozens of the nation’s largest housing markets continue to show improvement, according to an index released on Monday.

Housing Recovery Could Lift Jobs, Spending
CNN Money | August
After years of depressed activity, home prices and new construction have started to pick up in recent months as foreclosures have slowed, suggesting the housing market may have finally bounced off the bottom.

Is This the End of the Housing Bust? Not So Fast, Says Shiller
The Wall Street Journal | August 6, 2012
Housing expert Robert Shiller isn’t convinced we’ve crossed into safe territory just yet. Here’s why.

23 Federal Laws that Apply to Real Estate Sales
Realtor Mag | August 2012
Residential real estate has become more complex over the years as a result of laws enacted to protect consumers’ welfare.

Hispanics Make Up Majority of New Owner Households
HousingWire | August 5, 2012
In spite of high unemployment, economic uncertainty and tighter credit conditions, homeownership among Hispanics continues to act as a stimulant to the country’s anemic household formation rate.

Chase Offers No Doc Refis, Principal Reduction
HousingWire | August 5, 2012
JPMorgan Chase went from fast-tracking foreclosures to rubber stamping and pre-approving some borrowers for refinances and even principal reduction.

Court of Appeals Upholds Dismissal in MERS Case
DSNews | August 5, 2012
MERSCORP Holdings, Inc., announced that a three-judge panel of the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a complaint against Mortgage Electronic Registration Systems, Inc., (MERS) and two other defendants.

Banks Ease Lending Terms to Meet Mortgage Demand
TheMReport | August 6, 2012
Commercial banks eased standards for residential mortgage loans to meet a sharp increase in demand in the second quarter, the Federal Reserve reported Monday in its quarterly survey of bank lending standards.

 
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Posted by on August 7, 2012 in Real Estate news

 

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Real Estate News 8-6-2012


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Company dedicated to hiring veterans
KXLY | August 5, 2012
Nearly 14 percent of veterans after September 11 are unemployed in Washington state. But a Spokane company is working hard to change the statistic. (Great story about a local company doing what they can to put these folks to work.  I love it. ~Anthony)

How Long Does It Take To Close A Mortgage?
Mortgage Report | August 5, 2012
The influx of new loans has not just lenders at capacity, but title companies and appraisers, too. It’s rendered the “30-day close” somewhat of a rarity. It’s tough to close a loan in 30 days anymore — especially with the amount of paperwork that can be required.  (Some good insight here for a consumer.  I’d like to know if you think it’s an accurate picture of what it takes for a 30 day close. ~Anthony)

Wealthy Home Sellers Capitulate, High End Prices Drop
USA Today | August 4, 2012
Even the rich aren’t immune to the pressures of the housing market. Prices for homes listed at $1 million or more have fallen 20% this year, according to RealtyTrac.

Jobless States: The Top 10
The Washington Post | August 3, 2012
Here’s a look at the top 10 states with the highest unemployment rates.

Why Buffett Is Betting Big on Housing
The Wall Street Journal | August 3, 2012
What does Warren Buffett see that no one else does? He just made an outsize bid on ResCap loans, the latest example of his bet that the housing market represents a great investment opportunity.

Is the Real-Estate Rebound for Real?
The Wall Street Journal | August 3, 2012
The numbers point to a lasting recovery in the housing and commercial-property markets. Here’s how to invest wisely.

Zillow and Other Sites Broaden Their Mission to Include Businesses
The New York Times | August 5, 2012
For the first few years of its existence, the only thing Zillow cared about was getting people to come to its real estate Web site to snoop on the market value of neighbors’ homes and other properties. Over 34 million visitors a month now do so.

To Rent or Own: How Consumers Decide Between the Two
DSNews.com | August 3, 2012
In a study to examine what factors would drive a person to rent or own in their next move, Fannie Mae found that a mix of demographics and attitudinal drivers were key, while negative housing events appears to do little to thwart would-be buyers.

 

 

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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Posted by on August 6, 2012 in Real Estate news

 

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Real Estate News Today 8-2-2012


Among the Stewart Title offices across the nation, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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RBS: Underwater mortgages hold steady without eminent domain
HousingWire | August 1, 2012
A higher percentage of underwater borrowers are still making payments, specifically in areas considering eminent domain to seize the loans and write down principal, according to research from the Royal Bank of Scotland

CA Homeowner Bill of Rights ignores logic
HousingWire | August, 2012
While some of the California Homeowner Bill of Rights provisions are reasonable, given the recent problems resulting from an unprecedented wave of foreclosures in the state, many others will needlessly interfere with a process that has mostly worked as intended.

What Cities are Best for Seniors?
USA Today | August 1, 2012
Seniors looking for the best city to grow older in may be better off flocking to the Midwest than sunny Florida, according to a recent report.

How to Navigate Today’s Mortgage Doc Maze
Bloomberg | August 1, 2012
If you want a chance of grabbing a sub-4 percent mortgage the latest challenge is being prepared to run the document gauntlet and become a supplicant to the underwriting gods.

Smaller U.S. Banks Seeking Exemption From CFPB Mortgage Rules
Bloomberg | August 2, 2012
Community banks are lobbying the Consumer Financial Protection Bureau to be exempted from two forthcoming regulations on mortgages.

City of Spokane works to bring down ‘silos’
Spokane Journal of Business | August 2, 2012
You can’t see it when driving along Spokane Falls Boulevard, but according to Jan Quintrall, the silos are coming down at City Hall.

Recent moves hint of a housing recovery
Spokane Journal of Business | August 2, 2012
After years of looking for any sign that the housing market was doing anything other than bumping along the bottom, indications that a recovery is under way have emerged.

Most second homes would escape new 3.8 percent tax
InmanNews | August 1, 2012
The warm summer weekend at the lake brought out sailors, wake boarders and even some old-time slalom water skiers. The discussion on more than one dock also focused on an additional tax on second homes.

And today in the “just for fun” category,
we offer you the Olympic medal standings from NBCBy the way, how do you feel they’re doing on their coverage?  They seem to be getting more criticism than praise. Thanks for reading our newsletter today!

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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Real Estate News Today 7-31-2012


Among the Stewart Title offices across the nation, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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The Difference Between Excellent and Perfect
The KCM Blog | July 31, 2012
Why does a buyer or seller look for a real estate professional in today’s new market reality? There’s plenty of information readily available for them to look at and analyze as they’re going through the process.

MBA: Multifamily/commercial mortgage originations swell 25% in 2Q
HousingWire | July 31, 2012
Multifamily mortgage originations helped commercial/multifamily origination volumes grow 25% in the second quarter from the year-ago period, according to the Mortgage Bankers Association’s quarterly survey.

Subprime Auto ABS Grows As Lenders Chase Margins: Credit Markets
Bloomberg | July 30, 2012
Sales of bonds tied to payments on subprime car loans are accelerating at the fastest pace in five years as investors seek high yields amid speculation the Federal Reserve will keep interest rates at record lows until mid-2015.

U.S. Housing Recovery Tested as Economy Tempers Optimism
Bloomberg | July 30, 2012
While orders for new homes are rising at the fastest rate in two years and housing may be a net contributor to the economy’s expansion for the first time since 2005, slowing job growth, tight inventories and a backlog of foreclosures threaten to put the brakes on a comeback.

How Forgiveness Fits in Housing-Fix Toolkit
The Wall Street Journal | July 30, 2012
Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing bust: to forgive or not to forgive?

Some at Fed Are Urging Pre-Emptive Stimulus
The New York Times | July 30, 2012
On the eve of the Fed’s policy-making committee meeting, members who favor more stimulus argued that the likely path of the economy was enough reason for action.

Congressional Leaders Near Budget Deal to Keep Government Running
The Washington Post | July 30, 2012
Temporary spending agreement would keep it running for the first half of the next fiscal year.

Is Housing Recovery Real? Not Everyone Is Convinced
NPR | July 31, 2012
Housing, the sector that led us into the recession, now looks to be one of the brighter spots in the economy. Homebuilding is at its highest level in nearly four years. More homes are selling, and at higher prices.

Yesterday we had an article about a company that is customizing the term of their homes loan to fit the clients desires.  We had two responses that I wanted to share from loan officers:

From CL: I do this all the time….I give them an excel sheet that lets the customer design their own.  They can change the principal monthly amount and see how much sooner than can pay off their mortgage based on their own timeline and needs.  VERY effective and also shows them sometimes the cost is not worth the expense of a refi unless they want rate bragging rights!!

From DB: It is currently is available!!!
1.       Borrowers on home loans do not have prepayment penalties today on the vast majority of loans.
2.       Borrowers can make additional Principal payments any time therefore,  reducing the loan balance, therefore retiring the loan at any point in time they desire. 
You just made you designer loan.
3.       We currently offer, 10, 15 20, 25, 30 and 40 year loans, with no prepayment penalties, the ability to pay extra every month, every other month, once a year,  etc….
4.       We offer the borrowers various amortization schedules so they can set the payoff date—VERY few ever follow through, they drop back to the easiest payment so they can do whatever with the “extra” cash.

 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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Real Estate News Today 7-30-2012


At Stewart Title, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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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  

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 7-23-2012


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Property Investments Get Pricier
The Wall Street Journal | July 21, 2012
Real-estate investment trusts have soared in recent months—but there are still pockets of opportunity.

Real Estate Funds Lead the Pack, Can It Last?
USA Today | July 22, 2012
The housing market may finally be coming back, with home prices rising again and mortgage rates at record lows.

Millions of Older Americans at Risk of Foreclosure
CNN Money | July 20, 2012
A growing number of older Americans are falling into serious mortgage debt, with more than three million borrowers over the age of 50 at risk of losing their homes to foreclosure, according to a recent report from the AARP.

Wanted: A 15-Year Home Loan
The Wall Street Journal | July 22, 2012
Average rates on 15-year fixed-rate mortgages have been below 3% since May, leading more borrowers to consider swapping their current home loan for one with a 15-year term.

Safeguard, Freedom Alliance to give away homes to military families
HousingWire | July 20, 2012
Safeguard Properties
and Freedom Alliance are working with banks and lending institutions to provide homes for military families without the burden of a mortgage.

Apartment Rents: No Place But Up, Setting the Foundation for Rising Home Values
Ted C. Jones Blog | July 23, 2012
The U.S. Census Bureau estimates that the U.S. is adding 2.8 million people each year (and that is predicated on an assumed low net-in migration scenario). New residential building permits have averaged less than 600,000 per year for the past 48 months. Admittedly, there was residual excess inventory from the housing bubble, but that has been absorbed. As a result, rental rates are going up. How much rents are increasing is a function of the local market and comparative supply and demand.

Election Year Puts Housing on Hold
Fox Business | July 23, 2012
Here are some of the issues still on the table as we enter into the second half of 2012.

Geithner Set to Defend Actions on Libor, Wall Street Reform Before Congress
The Hill | July 22, 2012
Treasury Secretary Timothy Geithner will be mounting a defense of the financial reform law and his own stint running the Federal Reserve Bank of New York as ongoing scandals cast renewed clouds over Wall Street.

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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