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Real Estate News Today 7-9-2012


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We had lots of comments regarding the “Eminent Domain” discussion last week.  Instead of reprinting them in an email, I’ve posted them in the ‘comments’ section at the bottom of the July 6, 2012 blog post.  You can read them here: https://avcarollospok.wordpress.com/2012/07/06/real-estate-news-today-7-6-2012/  Thanks to all who took the time to respond!

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

If Housing is Recovering, Where are the Construction Jobs?
The Washington Post | July 8, 2012
The housing market appears to be on the mend, as new home sales, construction spending, and new home construction have all improved in 2012.

Closer to a Bailout? FHA’s Mortgage Delinquencies Soar
CNN Money | July 9, 2012
The mortgage market appears to finally be stabilizing — as long as you ignore loans backed by the Federal Housing Administration.

Brace Yourself, Real Estate Prices Are Going Back Up
Bloomberg | July 8, 2012
House prices, after falling for more than five years, are rising again. All the major sales-price indexes show that there have been modest national increases in recent months, even after adjusting for seasonal patterns.  (So tell me, is it too early to call?  Are housing prices in your market going up?  Do the actual sales prices from your MLS support this article?  ~Anthony)

Number of the Week: Has Housing Bottomed?
The Wall Street Journal | July 6, 2012
The signs of a bottom in the housing market are piling up, and after Friday’s employment report we can add construction jobs to the pile.

First-time Homebuyers Struggle with Tough Market
The Denver Post | July 8, 2012
The stabilizing housing market is becoming a curse for first-time homebuyers.

More Red Flags on Reverse Mortgages
Reuters | July 6, 2012
Consumer advocates, government regulators and watchdogs have been warning seniors for several years about the risks associated with reverse mortgages. Now, the red flags are being hoisted significantly higher.

What To Expect From The Housing Market In The Remainder Of 2012
San Francisco Chronicle | July 7, 2012
The root of the global financial crisis and resulting recession could be summed up in one word: housing. Fueled by cheap credit, shady-style mortgages and over-inflated home prices, the resulting speculative bubble popped hard and sent home prices into a tailspin. Those falling prices ultimately exacerbated all the rest of the problems facing the economy, and there are several long-term consequences from the recession.

How Agents Are Investing in Their Business
RealtorMag | July 5, 2012
Real estate professionals are investing in a number of tools to expand their reach to customers. 
 

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 6-13-2012


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

New Mortgages 20% More Likely to Default than Those from the ’90s
DSNews.com | June 12, 2012
Investors and lenders should expect loans currently originated to have a 20 percent higher chance of default than those originated in the ’90s due to current economic conditions, according to the University Financial Associates (UFA). (Keeping in mind that this is only one firm’s position, it does seem to me that the US homebuyer’s mindset has turned a corner. It used to be that foreclosure normally only happened to those folks that couldn’t afford their house payment.  ‘Strategic default’ is a now socially acceptable option if things get tight. This adds a whole new segment of consumers who will be foreclosed upon in the future.  ~Anthony)

Shortage of homes for sale creates fierce competition
Los Angeles Times | June 10, 2012
The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes.

Landlords Cash in on Higher Demand
RealtorMag | June 12, 2012
Taking advantage of an increase in home owners-turned-tenants, apartment landlords are raising their rents and expect to continue to do so.

Rental Market Still Tightening: Moody’s
DSNews.com | June 12, 2012
With vacancies declining and rental prices rising, the climate in the housing industry is clearly warming up to rental properties.

Wells Fargo to limit FHA Streamline participation
HousingWire | June 12, 2012
Wells Fargo will only accept new streamlined refinancing on Federal Housing Administration mortgages serviced in-house beginning June 19, according to an alert sent to lenders Tuesday.

US GDP – Not As Pretty As Otherwise Indicated
Ted C. Jones Blog | June 11, 2012
If you looked at the basic U.S. Gross Domestic Product (GDP) numbers, you would conclude that the U.S. is gaining economic ground. 

Trade Group to Call for CFPB Official to Resign After Remarks
DSNews.com | June 12, 2012
Sparking indignation in the mortgage broker community, Raj Date, deputy director of the Consumer Financial Protection Bureau laid the bulk of the blame for the housing crisis on brokers during a speaking engagement Monday. His statements have led at least one industry trade group to call for his resignation. (I know lots of really good and honest mortgage brokers who helped many, many of consumers. Like many industries, there was a segment that took advantage of some consumers and gave the others a bad name. ~Anthony)

Endless QE? $6 Trillion and Counting
Reuters | June 13, 2012
Many more years of money printing from the world’s big four central banks now looks destined to add to the $6 trillion already created since 2008 and may transform the relationship between the once fiercely-independent banks and governments.
 

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 June 13, 2012 in Real Estate news

 

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Real Estate News 6-12-2012


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

Court Unlikely to Favor Homeowner in Florida Foreclosure Case: Moody’s
DS News | June 11, 2012
If a lender produces a fraudulent document when attempting to foreclose on a borrower, should lenders be able to voluntarily dismiss the foreclosure then re-file the case after fixing the error?

FHFA Plans Extensive Monitoring of First REO-to-rental Transaction
HousingWire | June 11, 2012
The Federal Housing Finance Agency will methodically analyze several pieces of the first REO-to-rental transaction, including how much it should monitor investor compliance to certain rules.

Home Refinancing Boosts Florida, Nevada: Economy
Bloomberg | June 11, 2012
Harold Fuller said he’s planning a cruise with his wife to Bermuda, their first vacation in two years, after cutting his mortgage payments by $400 a month after refinancing their $212,000 home in Apopka, Florida.

Positives of Negative Equity on Home Prices: CoreLogic
DS News | June 11, 2012
Declines in the share of REO properties and in the months’ supply of unsold inventory are all leading to a revival in home prices, and these drops are being driven, in part, by negative equity, CoreLogic concluded in a report. (Interesting dynamic at work here. ~Anthony)

Real Estate: FHA streamline refinance gets cheaper for homeowners
San Jose Mercury News | May 25, 2012
The government is about to make refinancing FHA mortgages more affordable — and potentially easier — for hundreds of thousands of homeowners. (FHA fees went down effective yesterday for cetain folks. Talk with your local FHA lender to see if you qualify to refinance. ~Anthony) 

FHA Hopes Bulk Sales Will Curb Foreclosures
RealtorMag | June 11, 2012
The Federal Housing Administration announced it will begin selling off distressed mortgages in bulk, which may help prevent foreclosures for thousands of home owners. Beginning in September, FHA says it hopes to sell 5,000 mortgages each quarter. 

And in the “Just for Fun” category today, we offer you:

What not to say when pulled over by a cop
MarketWatch | September 10, 2012
In what he calls an “educational video” that’s widely circulated on YouTube, comedian Chris Rock offers advice on what to do when you get pulled over for a traffic violation. (Watch the 20MPH zones in the City of Spokane as city pools open on June 18th. ~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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Posted by on June 12, 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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Real Estate News Today 6-7-2012


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

5 of the Most Frequent Consumer Complaints
Yahoo! Finance | June 6, 2012
Have you been unhappy with your bank in the past year? Or gotten an unpleasant call from a debt collector? You’re not alone.

Shortening Loan Terms
The New York Times | June 1, 2012
Low interest rates are making it easier for homeowners to reduce their mortgage payoff times considerably.

Home Rentals — The New American Dream?
USA Today | June 6, 2012
Unlike traditional apartment renters, this breed of American tenants are older and have kids, U.S. Census Bureau data indicate.

Tale of Two Markets: No Downturn in Megahome Sales
MSNBC | June 5, 2012
The real-estate market is splitting in two, with wealthy buyers driving stronger growth at the top while the rest of the market continues to struggle.

Hispanic Home Buyers On The Rise
Forbes | May 31, 2012
For Hispanic Americans, a mega-boom in homeownership is revving up.

New Value for Land in Rural Ohio
The New York Times | June 5, 2012
The energy boom has swept into the rural counties of the upper Ohio River Valley, producing a torrent of investment in mineral leasing that is jolting the economies of small towns and swelling the bank accounts of some working-class families.

Probe Widens Into Mortgage Lenders
The Wall Street Journal | June 6, 2012
Federal officials are broadening their investigations of mortgage lenders that use a popular federally backed mortgage program, a move that could force more banks to pick up some of the rising tab for losses at the Federal Housing Administration.

Americans Cling to Jobs as U.S. Workforce Dynamism Fades
Bloomberg | June 7, 2012
After 4 1/2 months of meetings, interviews and hand-holding, personnel recruiter William Rowe thought he had sealed the deal. The senior executive of a major corporation Rowe had been courting finally agreed to take a top post at a venture capital- backed technology firm in California. Then four days after giving notice, the mid-to-late 40-year-old executive had second thoughts about leaving the security of his company and returned to his old job.

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 4-23-2012


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

Regulators Examine Bank Overdrafts Reaping $31 Billion
The Houston Chronicle | April 21, 2012
Two years after regulators gave Americans more power to manage overdrafts of their checking accounts, the Consumer Financial Protection Bureau is reviewing bank practices to determine if the crackdown went far enough.

House Shoppers Find FHA Loans Cost More
Indianapolis Star April 22, 2012
Mortgages insured by the Federal Housing Administration — often called “FHA loans” — have long been an option for home buyers who don’t have a lot of cash for a down payment or whose credit is less than optimal. For that reason, FHA loans became vastly more popular after the implosion of the subprime mortgage market. (This is a very misleading headline.  One might easily assume it so suggest that FHA mortgages cost more than others.  However if you reasd the article, it simply tells the story that FHA loans cost more now than they used to. ~Anthony)

Moody’s Predicts Tougher Times for Some Homebuilders
HousingWire | April 19, 2012
Homebuilders with good liquidity can expect double-digit growth rates in 2012.  Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody’s Investors Service.

For House Hunters, Mobile Apps Put Information at Arm’s Length
The Washington Post | April 20, 2012
Home buyers face no shortage of questions during their search for the ideal property: How many bedrooms does the home have? What are the schools like? When did it last sell? For how much?  The answers may be in your pocket.

Low-Ball Bidders No Longer Get a Steal
The Washington Post | April 22, 2012
It’s not something that economists routinely track, but it provides a rough sense of what’s happening in local real estate markets. Call it the low-ball index.

After the Bailout: Few Fans but No Fix for Fannie and Freddie
Reuters | April 23, 2012
In considering how to fix the ailing U.S. housing market, Republicans and Democrats in Washington have found a rare point of agreement: they would prefer life without failed mortgage giants Fannie Mae and Freddie Mac.

Long & Foster Finding Success in Rebounding Housing Market
The Washington Post | April 20, 2012
Long & Foster finds success in a rebounding housing market: The homegrown company is not a passive recipient of the market’s good fortune. Rather, it made strategic adjustments in order to weather the housing crash.

Alternatives to the “F” Word – How to Avoid Foreclosure
RealEstate.com | April 21, 2012
Delinquent: No longer just a word to describe unruly adolescents. Full-grown responsible adults now bear the scarlet letter because, for one reason or another, they can’t make their mortgage payments. (I got this great article from an unnamed Realtor friend in Atlanta, GA.  Thanks friend!  I love it when my readers post great stuff I can use.  Keep it up everybody! ~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 4-12-2012


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

Foreclosures to Rent are a Hot Investment
Los Angeles Times | April 11, 2012
A new report predicts the market for foreclosed homes that are turned into rentals will be worth more than $100 billion this year.

CoreLogic: Best Markets for Single-Family Rental Investments
DSNews | April 11, 2012
Single-family rental investing is a $3 trillion market, according to a CoreLogic’s MarketPulse report, which further stated that the single-family rental market accounts for $21 million rental units, or 52 percent of the residential rental market.

Watchdog Blasts Housing Program for ‘Hardest Hit’
CNN Money | April 12, 2012
A federal-state program aimed at helping homeowners in states hardest hit by the mortgage crisis is falling far short of its goals, a federal watchdog said in a report released Thursday.

Foreclosures at Lowest Level Since 2007
The Washington Post | April 11, 2012
First-quarter filings fall to lowest levels since the housing collapse began nearly five years ago.

FHA Retreats on Lending Rule Change
Houston Chronicle | April 11, 2012
The Federal Housing Administration has backed off from a rule change that would have made it harder for potential homebuyers to get government-backed mortgages.

How ‘Shadow Inventory’ Hurts the Housing Market
Chicago Tribune | April 11, 2012
There were high hopes that 2012 would be the year when the housing market, battered by the explosion of the real estate bubble, would finally begin to recover. But any good news on the housing front has quickly been followed by negative news.

The Top 10 Dying Industries in the United States
The Washington Post | April 11, 2012
A new report from IBIS World looks at 10 industries in the United States that are demonstrating, as the researchers put it, “exceptionally sour performance.”

Buyer Urgency Improves, More See Now Good Time to Buy
Realtor Magazine | April 11, 2012
More home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon. 

BofA Announces Shortened Short Sale Process
Realtor Magazine | April 11, 2012
Bank of America announced it is refining its short sale process to streamline its approval process and reduce the wait in accepting offers and making it to closing. The changes are expected to trim the bank’s decision time in half — from 45 days or longer to 20 days, Inman News reports. 

 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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