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Real Estate News Today 7-16-2012


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Zuckerberg’s Loan Gives New Meaning to the 1%
Bloomberg | July 14, 2012
Billionaire Mark Zuckerberg is giving new meaning to the term “the one percent.” The Facebook Inc. founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property.

In the U.S. Housing Market, Recovery or Lost Decade?
Reuters | July 15, 2012
What some of Wall Street’s forecasts for a recovery may be underestimating are tectonic shifts in the U.S. economy that make the housing market a different place from a decade ago.

Here Comes the Catch in Home Equity Loans
The New York Times | July 14, 2012
The easy terms of many home equity lines of credit are about to end, as borrowers will have to start paying principal as well as interest.

Q&A: How the Credit Card Settlement Affects You
The Wall Street Journal | July 13, 2012
Merchants big and small settled litigation against Visa and MasterCard Friday. As a result, merchants will be able to tack on extra fees when shoppers pay with plastic.

Will Housing Rescue the U.S. Economy?
CBS News | July 15, 2012
There is now broad consensus that the housing market is bottoming, but it remains to be seen how strong the recovery will be and whether it can help boost the moribund economy from the spring-summer doldrums.

US Consumer Agency to Supervise Credit Reporting Companies
Reuters | July 16, 2012
The U.S. consumer watchdog agency said on Monday it will start closely supervising credit reporting companies in September, bringing the industry under strict federal supervision for the first time.

More Home Owners Gain Equity
RealtorMag | July 13, 2012
Rebounding home prices are lowering the number of home owners who are considered “underwater” on their mortgage, according to a new report by CoreLogic(We received some feedback from a reader last week in response to this increase in equity.  In summary he said:
“The fact that the tiny increase in values we’ve had so far pushes these 700,000 folks out from being underwater
 simply shows that there are no government programs needed to fix our housing crisis. 

All we need is for the economy to recover just a bit and that solves many of our problems.  We don’t need more principal write downs, more refinance programs, or eminent domain seizures of mortgages.  What we really need is certainty, which means the government leaving things alone long enough to allow the market to correct itself”.

He makes a good argument.  Thoughts or feedback? ~Anthony)

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 7-13-2012


Who is your favorite Stewart Spokane employee and why?  Email me and tell me and we’ll get it on our Facebook page, or even better – you can post it directly to our page!  Facebook

Would You Do Your Banking On Facebook?
WebProNews | July 13, 2012
Can you imagine a world where all of your financial transactions are going through the same account as all of your photos, status updates, videos, game playing, and music discovery? Facebook certainly can, and that looks to be the goal the company is trying to achieve. (Scary or incredibly convenient? ~Anthony)

3 reasons HELOCs create title headaches
Real Estate Settlement Observer | July 13, 2012
Home Equity Lines of Credit (HELOCs) may be difficult to obtain in today’s market, but not too long ago, everybody had one.  Recently, a series of closings were delayed in our office due to issues with HELOCs, and I expect that dealing with HELOCs will only get worse.    There are several reasons why HELOCs often cause title nightmares, and keeping good records can help avoid settlement delays. (An excellent article from Federal Title in Washington DC. If you’ve ever had a closing delayed because of an old HELOC, the author does a great job of explaining how/why that happens. ~Anthony)

Rising Home Values Lift Borrowers Out from Underwater
The Wall Street Journal | July 12, 2012
Rising home prices during the first three months of the year reduced by 700,000 the number of homeowners who owe more than their homes are worth, according to a report released Thursday.

Real Estate Bright Spot: More Businesses Buying Office Space
CNBC | July 12, 2012
Las Vegas dentist Chris Cozine wanted to cut costs after the Great Recession. He found an unlikely way: He ditched the office he was renting and bought 6,600 square feet of his own.

Colony Said to Win Foreclosed Homes Sold by Fannie Mae
BusinessWeek | July 12, 2012
Tom Barrack’s Colony Capital LLC, which plans to acquire $1.5 billion of rental homes within a year, was among the winners of about 2,500 foreclosed properties auctioned off by Fannie Mae, according to four people with knowledge of the sale.

Family Finds Itself in Foreclosure Nightmare
ABC News | July 12, 2012
In 2009, Christopher Flood and his wife Tammy bought their dream home. “First time home buyer, first time tax credit, we were on fire,” Flood recalled. They bought the custom-built home through a short sale.

Bondholders See Eminent Domain As State Attack: Mortgages
Bloomberg | July 12, 2012
“If you know that the county in which you make a loan could force you to sell it for less than it’s worth if it goes underwater, then the rate you will charge, in a free market system, would be a lot higher,” said Mike Canter, head of securitized assets at New York-based AllianceBernstein, which oversees about $400 billion.

HPF: Homeowners making payments warn of financial distress
HousingWire | July 12, 2012
More borrowers who are timely on their mortgage payments are calling the Homeownership Preservation Foundation’s Hope Hotline warning of future defaults.

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 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 Today 7-5-2012


Running a little behind this morning.  Many thanks to my friend Kevin Parker and Dutch Bros. for the kick in the pants today.  (:-)  Check out and Like their Facebook page! Facebook 

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

It Takes a Little Work to Take a Vacation
The New York Times | July 4, 2012
Of all the challenges small-business owners face, one of the toughest is taking a vacation. (As Realtors, you are in an industry that has the most difficult time taking a vacation.  What’s the secret, if there is one? ~Anthony)

The John Grisham of Real Estate?
RealtorMag | June 28, 2012
Noting the success of author/lawyer John Grisham in spotlighting his profession in fiction, C.M. Nevill thought it was about time real estate took the dramatic stage of the action-adventure novel. 

Multifamily housing bubble may be in the future
HousingWire | July 3, 2012
While single-family housing starts remain down, rental demand is driving new multifamily construction. But how long the demand will last is uncertain — an uneasy consideration for investors whose current investments may take years to hit the market.

Some Points about Points
The KCM Blog | July 5, 2012
One of the more frequent topics discussed between loan officers and borrowers center around discount points. So today, I decided to give you some information and some things to consider. (I really enjoy their blogs.  They consistenly provide value which is something we are constantly trying to do.  Today’s blog is no exception.  Lenders: is there anything you would add to this? Email me at acarollo@stewart.com ~Anthony)

Rents Increase as Vacancies Dry Up
The Wall Street Journal | July 4, 2012
Landlords boosted apartment rents to record levels in the second quarter as demand from tenants sitting out the home-buying market pushed vacancy rates to their lowest point in more than a decade, according to a report to be released Thursday.

Cybercriminals Sniff Out Vulnerability
The Wall Street Journal | July 4, 2012
With cybercriminals a greater threat to small businesses than ever before, more entrepreneurs are left asking themselves who is to blame for hacking attacks that drain their business accounts. 

Small Business Lending Recovers, Delinquencies Drop to Record Low
The Washington Post | July 5, 2012
The overall volume of loans to small companies rose 12 percentage points in May, marking the largest month-to-month increase in three years and nearly erasing four consecutive months of decline to start 2012, according to the latest data released by Thompson Reuters and PayNet. J.D. Harrison JUL 3 Lenders are warming up to small firms again, but is it enough to trigger investments and hasten

Struggling Homeowners Avert Foreclosure Via Mediation
Reuters | July 5, 2012
Verise Campbell was excited. She could finally help struggling homeowners negotiate deals with their lenders to avoid foreclosure, but the angry response to her first phone call shocked her.

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 6-28-2012


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

Supreme Court upholds Obamacare individual mandate as a tax
Yahoo! News | June 28, 2012
In a victory for President Barack Obama, the Supreme Court decided to uphold his signature health care law’s individual insurance mandate in a 5-4 decision, upending speculation after hostile-seeming oral arguments in March that the justices would overturn the law. The mandate has been upheld as a tax, with Chief Justice John Roberts joining the liberal wing of the court.  (Love it or hate it?  Most folks seem to feel strongly one way or the other. ~Anthony)

Mortgage Seizures Create ‘Very Serious Concerns,’ Sifma Says
The Wall Street Journal | June 27, 2012
Wall Street’s largest lobbying group is objecting to the use of eminent domain by municipalities to seize mortgages packaged into bonds so the loans can be shrunk to aid homeowners who owe more than their properties’ values.

After Years of False Hopes, Signs of a Turn in Housing
The New York Times | June 27, 2012
Announcements of a housing recovery have become a wrongheaded rite of summer, but after several years of false hopes, evidence is accumulating that the optimists may finally be right.

Government-Backed Loans Went to 6,300 Delinquent Taxpayer
The Wall Street Journal | June 28, 2012
More than 6,300 homeowners who owed millions of dollars in federal taxes received government-backed mortgages in violation of a federal policy, according to a report by a federal watchdog.

Provo, Raleigh Ranked as Best U.S. Business Cities
Reuters | June 27, 2012
Provo, Utah, the home of Brigham Young University, displaced Raleigh, North Carolina, as the best U.S. city for business in a new ranking released on Wednesday.

House to Add Student Loans, Flood Insurance in Highway Bill
San Francisco Chronicle | June 27, 2012
U.S. House and Senate negotiators are finalizing agreements to combine a multiyear highway bill with a one-year freeze on government subsidized student loan interest rates and a reauthorization of flood insurance programs.

Are Banks ‘Hoarding Foreclosures’?
RealtorMag | June 27, 2012
Recent housing surveys are showing an uptick in home prices, particularly in cities in warm-weather “sand states” that had been hard-hit during the housing slump, such as in Phoenix, Las Vegas, Miami, and Tampa. But some housing experts worry that the lift in prices may be temporary due to banks “hoarding foreclosures.”

The Biggest Growth Spots in the Next 20 Years
RealtorMag | June 27, 2012
Small to mid-sized cities will likely be the “biggest winners in the housing market two decades from now,” predicts Stan Humphries, Zillow’s chief economist. Some of these cities will be near large metro areas while some may be more distant and include small to mid-sized cities in college towns too, Humphries adds. (Guess who makes the list?  Whoop whoop! I love this town. ~Anthony)

Educational moment
I’ve seen several articles lately (including the one directly above) that use the term “exurb”.  It’s a new one to me, so I looked it up.  Here’s the definition: “a region or settlement that lies outside a city and usually beyond its suburbs and that often is inhabited chiefly by well-to-do families”
(from http://www.merriam-webster.com/dictionary/exurb)

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 6-27-2012


 

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

Orbitz Thinks Mac Users Have More Money. Sooner or Later Hackers Will Too
Forbes | June 26, 2012
Orbitz Worldwide has come to the conclusion that Mac users surfing its site would likely go for a higher-end hotel and decided to cut to the chase: it is experimenting with displaying different, and more expensive, hotels for users searching from a Mac, instead of a Windows desktop, according to a report in the Wall Street Journal.  (This is fascinating to me.  Thanks to a wonderful reader in Seattle for passing this along! ~Anthony)

Small Business Owners, Avoid These Five Crippling Branding Mistakes
The Washington Post | June 26, 2012
These lessons from TOMS Shoes, Apple and Virgin should guide the way as you mold your company’s reputation.

A Look at Case-Shiller, by Metro Area
The Wall Street Journal | June 26, 2012
Home prices showed fresh signs of stabilization in April, according to the S&P/Case-Shiller indexes. A key gauge of U.S. home prices was up 1.3% in April from the previous month.

Why Home Prices are Rising Again (According to Case-Shiller)
The Wall Street Journal | June 26, 2012
It wasn’t hard to see this coming: Home prices rose in April after a spring that brought more buyers chasing fewer homes.

Biggest U.S. Banks Curb Loans as Regional Firms Fill Gap
Bloomberg | June 26, 2012
The biggest U.S. banks are extending less credit amid a faltering economic recovery as regional lenders step in to fill the gap. 

S&P Says U.S. Faces 20-percent Risk of Double Dip
Reuters | June 26, 2012
The United States faces 20-percent odds of a return to recession, rating agency Standard & Poor’s said on Tuesday, although it said a slow recovery remains the company’s baseline forecast for the world’s biggest economy.

Agencies Set Mortgage-Servicing Rules for Military
BusinessWeek | June 27, 2012
U.S. regulators released rules for mortgage servicers that are designed to help members of the military get information needed to sell their homes or modify loans when they are forced to relocate.

Economists Predict Where Home Prices Are Heading
Realtor Mag | June 26, 2012
A majority of more than 100 economists and real estate experts say that home prices will likely bottom by 2013, according to the Zillow June 2012 Price Expectations Survey. 

Top 10 cities for retirement
Chicago Tribune | June 14, 2012
Deciding where to retire presents an exciting challenge. The best cities for retirement need to offer appealing amenities — good quality of life, ample health care options and plenty of things to do — on a fixed-income budget. (Another article that names Spokane, WA as a great place to retire! This was sent to me by a retirement-savvy Spokane reader. ~Anthony)

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 6-26-2012


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

Retire Here, Not There: Washington
SmartMoney | June 25, 2012
Forget Seattle. Here are four less expensive places to settle down in the Evergreen State.  (Guess which communities made the short list? Spokane is one of them! ~Anthony)

Mortgage Refi Boost May Be Short-lived
HousingWire | June 25, 2012
The refinancing surge on government-backed mortgages may run out in August, bank analysts said Monday.

Avoid Fireworks at the Family Summer Home
The Wall Street Journal | June 25, 2012
A jointly owned property comes with a host of issues that need to be spelled out and formalized to avoid any family squabbling down the road.

New-home Sales Rise
The Washington Post | June 25, 2012
Americans bought new homes in May at the fastest pace in more than two years.

Senate Bill Would Drive Up Flood-Insurance Premiums
The Wall Street Journal | June 25, 2012
Vacation homes and commercial properties in flood-prone areas could see their flood-insurance premiums more than double over a four-year period under a bill poised to clear the Senate this week. (We may finally have resolution and certainty for an extended period on flood insurance.  It sounds like we’re close anyway. ~Anthony)

5 Projections of Where the Housing Market’s Headed
RealtorMag | June 25, 2012
Real estate markets across the country are inching their way to a slow recovery after bottoming out, according to several real estate economists who spoke at a forum hosted by the National Association of Real Estate Editors.

SEC stops $100 million real-estate based Ponzi scheme
HousingWire | June 25, 2012
The Securities and Exchange Commission filed a complaint against a man accused of running a $100 million real estate based Ponzi scheme in Utah.

 

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 6-21-2012


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

5 Biggets Mistakes Home Buyers Make
RealtorMag | June 20, 2012
Some home buyers fall for common pitfalls when purchasing a home. How can you help make sure your clients don’t fall for one?

Building the Great Outdoors Room
RealtorMag | June 20, 2012
Home owners seeking to maximize living space are turning to the outdoors, treating it like another room in the house.

CFPB to Combine RESPA/TILA Mortgage Disclosures After QM
HousingWire | June 20, 2012
The consolidation of federal mortgage disclosure forms mandated by the Dodd-Frank Act won’t occur until the qualified mortgage rule is finalized, meaning finalization of the new forms won’t arrive until 2013.

Home Prices in the West Are Rebounding as Inventory Shrinks
The New York Times | June 20, 2012
The overall value of homes in 20 metropolitan regions tracked by Standard & Poor’s Case-Shiller index remained unchanged, and prices are still sitting at their lowest point.

Court Rules Against MBA in Loan Officer Compensation Case
HousingWire | June 20, 2012
A United States District Court has ruled against the Mortgage Bankers Association in a case that will determine how loan officers are classified when it comes to standards of pay and overtime compensation.

Many Americans Escape Poverty By Sharing Homes With Families or Friends
The Washington Post | June 20, 2012
Millions of economically pressed Americans cushioned themselves against the recession by doubling up in houses and apartments, according to a Census Bureau report released Wednesday. Michael A. Fletcher JUN 20 Census Bureau says number of adults living with others jumped 11.4 percent between ‘07 and ‘10.

Fed Extends Program to Lower Rates
The Washington Post | June 20, 2012
The Fed said it would extend “Operation Twist,” a program that seeks to reduce long-term interest rates, through the end of the year. The decision highlights how the central bank, the Obama administration and Congress are struggling to make a major dent in unemployment, three years after the economy officially started growing again.

Housing Starts May Be Up But Don’t Expect A Construction Recovery Just Yet
Forbes | June 20, 2012
Builders are beginning to amp up plans for new homes. The number of building permits jumped to the highest level in nearly four years, according to figures released this week by the U.S. Department of Commerce. 

The appraisal discussion continues.  Excerpts from responses I received:

An agents response:
Mortgage underwriters seemed to have been handed all the blame from the sub-prime lending days.  The result today is that many seem to go out of their way to avoid blame that may occur from a default down the road.  As for appraisers using foreclosures and REO properties as comps, that would seem natural as these two types of sales have been setting the “basis” for home values as we listed the homes, so why not consider them as comps to sell them? 

A loan officer response: 
Yes we are afraid of our own shadow. We as lenders are NOT confident in what our investors will require post-closing and further we are trying to avoid push backs from the agencies FNMA/FreddieMac.  No question, it’s a difficult time for ALL of us, we do not want to underwrite in this manner.  Trust me,we do not enjoy the level of post-closing re-underwriting (second guessing) that’s occurring today.  We cannot afford to buy back too many loans. (go to your Board and ask for a million or two at 3-4% for 30 years—They will NOT be happy) My underwriter, Operations Supervisor and myself each have 30 years of experience, and yet we simply don’t know what to expect.  Several lenders I know are simply withdrawing from the business because of excusive regulations, costs and fear.

Another loan officer response:
In the last three years I have had NO appraisal issues in WA or CA, until this week.  We’re probably 50/50 on our Conventional v FHA loans so no problems on either. I’m betting you are only hearing from the people with “problems,” and that it’s not that widespread. At least my experience in two states would indicate the problem isn’t that big.

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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Today’s Real Estate News 6-20-2012


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

Multifamily Property Values Rise 25%: Freddie Mac
HousingWire | June 19, 2012
After reaching their trough in the first quarter of 2010, multifamily property values rose 25% over the course of the past two years, Freddie Mac said Tuesday.

The Myth of the National Housing Market
The Wall Street Journal | June 19, 2012
The housing boom and bust gave rise to the myth of a “national” housing market. After all, prices rose in almost every part of the country until 2006, when they began dropping from coast to coast.

Builder Buys Big Southern California Development Site
The Wall Street Journal | June 19, 2012
Luxury builder Toll Bros. Tuesday closed on a massive swath of land in Orange County, Calif., a market that appears to be rebounding from the housing crash.

Fed Expected to do More Stimulus
The Washington Post | June 19, 2012
Central bank is expected to extend “Operation Twist” program that would lower long-term interest rates.

Violent crime reduction equals billions in home value gains
HousingWire | June 19, 2012
A 10% reduction in violent crimes could result in billions of dollars in home price appreciation for several major cities, according to a study from the Center for American Progress. (Is it the reduction in crime that increases home values, or is it the increase in home-ownership that accomplishes both a reduction in crime and an increase in value? ~Anthony)

Watch for more on the ongoing appraisal discussion tomorrow!

IAnthony 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 June 20, 2012 in Real Estate news

 

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Real Estate News Today 6-11-2012


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

Fitch Throws Warning Shot On U.S. Debt
The Wall Street Journal | June 7, 2012
While investors are closely following every whiff that comes out of Bernanke’s mouth, Fitch Ratings just offered a stern warning to U.S. policy makers: Get your acts together, or else.

Realogy parent company plans $1 billion IPO
HousingWire | June 8, 2012
Realogy Corp.’s parent company, Domus Holdings, which operates Century 21 and Coldwell Banker, filed to raise as much as $1 billion in an initial public offering in order to shed its heavy debt.

U.S. Government to Offer Troubled Mortgages for Sale
Reuters | June 9, 2012
The U.S. Federal Housing Administration on Friday announced plans to sell off thousands of severely delinquent loans in an effort to protect its dwindling capital and improve the chances more troubled borrowers avoid foreclosure.

IRR: Down Payment Biggest Obstacle to Homeownership
DS News | June 8, 2012
Feelings about homeownership remain positive in the face of a diminished market, but an uncertain economy and increasing down payments are keeping Americans from making purchases, a report from Integra Realty Resources (IRR) said.

Shortage of Homes for Sale Creates Fierce Competition
Los Angeles Times | June 10, 2012
With housing inventory at a low, would-be buyers are scrambling to bid on homes before they’re even listed, and real estate agents are vying to represent the few sellers that do exist.

Unfamiliar Feeling for Housing: Optimism
The Seattle Times | June 8, 2012
The growing number of prospective buyers showing up at open houses and calling to inquire about listings has translated into sales.

This Family’s Nightmare Shows Why Foreclosure Auctions Are Such A Gamble
Business Insider | June 8, 2012
A mistaken bid on an online foreclosure auction site could cost not one but two families their homes.

U.S. Household Net Worth Grows as Debt Shrinks: Fed
DSNews.com | June 8, 2012
Household net worth increased in the first quarter of 2012 due to gains in the stock market, while household debt declined, according to the 2012 first quarter “Flow of Funds” report released by the Federal Reserve 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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