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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 5-24-2012


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

McMansions Fuel New Home Sales
The Wall Street Journal | May 23, 2012
Home builders say they’re getting a boost from wealthy customers’ restored demand for extra-large properties. (I can’t imagine that this is so common that it affects the national numbers enough to support the above headline.  But then everything you read in the news is true, so there you go, ~Anthony)

Sales of New Homes Up 3.3% in April
The Washington Post | May 23, 2012
Sales of new single-family houses increased 3.3 percent in April from a 332,000-unit pace in March, according to estimates released jointly Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development

Could Fannie and Freddie Pay Back Taxpayers Someday?
The Wall Street Journal | May 23, 2012
Jim Millstein, a former Treasury Department official, has a plan for the government to be repaid on its investment in Fannie and Freddie.

FHFA: Home Prices Rose 0.5% in First Quarter
HousingWire | May 23, 2012
Home prices across the nation rose a modest 0.5% in the first quarter from a year earlier, according to the Federal Housing Finance Agency house price index.

Rio Issues Land Titles to Slum Residents
BusinessWeek | May 23, 2012
Local officials and human rights groups are working to give legal title to tens of thousands of people like, a process that increases their wealth and gives them greater access to credit, as well as peace of mind. (This is a great article and really points to what Stewart Title has believed for years: that critical to developing countries is the opportunity to buy and sell real estate for as many people as possible,  Stewart does that better than any other title company through Stewart Global Solutions. ~Anthony)

George Lucas Strikes Back on Housing Plan for Ranch
RealtorMag | May 23, 2012
Star Wars filmmaker George Lucas is giving up his 25-year fight with residents in Marin County, Calif., over developing his ranch into a digital media production studio. Instead, he now wants to sell the land and have it turned into a low-income housing project. 

Sellers More Willing to Work on Buyer Appeal
RealtorMag | May 23, 2012
Home sellers are more willing to make changes to their home to make it more competitive in the market and more attractive to potential buyers, according to a new survey by Coldwell Banker Real Estate of 700 of its agents nationwide. 

Why Property Price Can Be of Low Importance
Fox Business | May 24, 2012
Too many potential real estate buyers pay way too much attention to short-term price changes. People are so worried that prices might drop a little and feel that maybe they should wait to buy something.  (Do you agree or disagree?  How important is price? ~Anthony)

My apologies for the error in yesterday’s issue of Today’s News.   Fox Business had entitled the article “What Homeowners Have to Disclose to Sellers”, they have since corrected the mistake and it now saysWhat Homeowners Have to Disclose to 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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Real Estate News Today 5-18-2012


May 18, 1980, where were you?  I was at our school picnic in Comstock Park (Spokane) when we could see what looked like a nasty storm cloud coming and we were told to head home because Mt St. Helens had erupted that morning and they expected ash to start falling from the sky.  That event changed the way we look at many things from a geologic perspective.  Here’s a great article on Wikipedia.

Tell us your Mt. St Helens Story on our Facebook page, you’ll see the question and article link there.  Facebook

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

Fitch Predicts Housing Bottom in 2013
HousingWire | May 17, 2012
U.S. home prices could drop another 7.8% before reaching bottom next year, Fitch Ratings said in a report released Thursday.

Congress Extends Federal Flood Insurance Program for 30 More Days
The Times-Picayune | May 17, 2012
The federal flood insurance program got another 30-day extension from the House on Thursday, while some lawmakers continue to work for the long-term extension they say is needed to ensure its stability.

Principal Reductions Won’t Solve U.S. Mortgage Mess
Bloomberg | May 17, 2012
Edward DeMarco, the temporary director of the Federal Housing Finance Agency, continues to endure blistering criticism for refusing to allow Fannie Mae and Freddie Mac to pay for large-scale principal reductions for underwater borrowers (those who owe more than their homes are worth) or to facilitate refinancings for those stuck with high interest rate mortgages.

Private Properties
The Wall Street Journal | May 17, 2012
Celine Dion lists a private Canadian island for $29.3 million; Ryan Seacrest is in escrow to buy Ellen DeGeneres’s home for $37 million; a midtown Manhattan duplex lists for $12 million.

Luxury Homes Spur Bidding Wars in L.A. as Market Rebounds
Reuters | May 17, 2012
A week after Christine Lynch listed her house in the Brentwood neighborhood of Los Angeles for $3.625 million, she had seven offers. Within 10 days, a deal was reached for the five-bedroom, six-bathroom home — and for $225,000 more than she asked.

De Facto Property Management Creates Agent Risks
RealtorMag | May 17, 2012
When clients must move before their house is sold and they ask you to take care of their property in their absence, it’s tempting to say yes. After all, you want to remain on good terms with them and get the future sale. But saying yes to such a request comes with a slew of pitfalls. (Worth a read! ~Anthony)

Thousands of REALTORS(R) Rally to Support Home Ownership
RealtorMag | May 17, 2012
More than 13,000 REALTORS® attended the Rally to Protect the American Dream this morning in the shadow of the Washington Monument on the National Mall in Washington, D.C. (Were you there or did you watch it?  What did you think? ~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 3-22-2012


Look at that, most of Today’s News is good news!  Hot dog!

Hot Start-Up Industry: Construction?
The Wall Street Journal | March 21, 2012
It turns out that the hottest growth area for new businesses isn’t something sexy such as software or biotechnology. It’s construction.

Existing U.S. Home Sales Hold Near Two-Year High
Bloomberg | March 21, 2012
Sales of previously owned U.S. houses held in February near an almost two-year high, adding to evidence the market that triggered the recession is firming.

Supreme Court Allows Idaho Couple to Challenge EPA on Wetlands Ruling
The Washington Post | March 21, 2012
The Supreme Court on Wednesday unanimously ruled for an Idaho couple who have been in a four-year battle with the Environmental Protection Agency over the government’s claim that the land on which they plan to build a home contains sensitive wetlands.

Smaller Homes, Urban Lifestyles Attractive to New Homebuyers: ULI
HousingWire | March 21, 2012
Smaller homes closer to urban areas may be the next wave of new construction, as post-bubble buyers seek smaller mortgage payments and shortened commutes.

Economic Uplift May Be Drag on Housing
The Wall Street Journal | March 21, 2012
A firmer economy doesn’t immediately translate into a more robust housing market. It could actually prove an impediment.

Home Builder Stocks at Highest Point in 2 Years After 6-Month Rise
The New York Times | March 21, 2012
The Standard & Poor’s index of 11 home builder stocks has risen 80 percent since October, the most recent low for the industry.

Zillow Survey: Prices Projected to Fall 0.7%, but Rise Next 4 Years
DSNews | March 21, 2012
Home prices are projected to fall 0.7 percent this year, a more negative expectation than the 0.2 percent decline economists previously anticipated, according to the March 2012 Zillow Home Price Expectations Survey.

New Realtor.com Tools Get HyperSocial 
RealtorMag | March 20, 2012
Realtor.com’s recently launched HyperSocial tools aim to improve real estate pros’ relationships online and allow clients’ recommendations to show up on their Facebook and Twitter pages.

Big Spending at Fannie, Freddie Should End, Watchdog Says
Bloomberg | March 21, 2012
The days of big spending on conferences and charity are over at Fannie Mae and Freddie Mac and the companies’ regulator should make sure it stays that way, the auditor of the Federal Housing Finance Agency said in two reports released today.

 

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 March 22, 2012 in Real Estate news

 

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Real Estate News 3-12-2012


We often gets questions about the difference between the three types of owners policies we offer – the Homeowners policy, the Standard coverage policy, and the Extended coverage policy.  In this week’s video I attempt to explain the difference in coverage and in cost in about 1 minute!  If you need more information, please feel free to call me at 509-328-7171.  (My apologies to Apple users as it requires Flash Player) ~Anthony

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

FHFA to Finalize Plans for New Secondary Mortgage Market by Year-End HousingWire | March 9, 2012 The Federal Housing Finance Agency will develop and finalize its plan to build a securitization platform by Dec. 31. The plan, announced in February, is intended to repair the nation’s mortgage finance space by creating a secondary market that serves both Fannie Mae and Freddie Mac as well as a post-conservatorship market with multiple future issuers.

Beware Tax Rules When Refinancing The Wall Street Journal | March 12, 2012 As more people refinance home mortgages, some are getting tripped up by tax-deduction rules. Those who decide to borrow more than they owe on their existing mortgage often assume they can write off interest on the whole new loan, but in many cases they can’t.

Banks Buying Treasuries at Seven Times 2011 Pace as Deposits Beat Lending Bloomberg | March 12, 2012 U.S. banks bought more government and related debt in the first two months of 2012 than they did in all of last year, an endorsement of Federal Reserve Chairman Ben S. Bernanke’s assessment of the economy that’s boosting demand for bonds even with yields near the lowest on record.

Acapulco Drug Gangs Making Sare’s $1.4 Million Condos Hard Sell: Mortgages Bloomberg | March 12, 2012 Sare Holding SAB, the builder offering $1.4 million condominiums on the Pacific coast beach of Acapulco, is struggling to sustain sales and share prices amid increasing bloodshed from Mexican drug cartels.

U.S. mass transit use up with gas prices, economy Yahoo! News | March 12, 2012 Americans took 10.4 billion trips on public transportation in 2011, the second-highest total since 1957, as gasoline prices rose and the economy improved, an industry group said on Monday. (At first blush, this may not seem like a real estate related article.  However, there are more and more folks looking to buy a home near mass-transit, particularly in the larger metro areas where public transportation is a fact of life. ~Anthony)

Your Jetsons home is almost here CNNMoney | February 28, 2012 In the classic 1960s animated sitcom The Jetsons, everything in the space-age family’s home could be controlled by the press of a button on a remote control. Fifty years later, that futuristic vision is finally becoming reality.

Helping your children buy their first home The Washington Post | March 2, 2012 Although buying a first home may no longer be everyone’s American Dream, I do hear from many parents asking how they may be able to help their adult children buy their first home.

More Retirees Opt for Short-Distance Moves Migration patterns are changing when it comes to retirement, a new analysis of Census data shows. So where are retirees heading?

 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 3-8-2012


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

Fannie Mae Changing ‘Forced-place Insurance’ Rules
Reuters | March 7, 2012
The practice of banks forcing expensive homeowners insurance on borrowers could come to an end after Fannie Mae told lenders it would seek to oversee such policies itself.

Home Prices at Levels of 10 Years Ago: CoreLogic
HousingWire | March 7, 2012
Home prices in January declined for the sixth consecutive month in a row, according to the latest data from CoreLogic

Fannie, Freddie Fees to Rise
NASDAQ | March 7, 2012
Mortgage fees are about to go up, but it might be too late to do anything about it if you haven’t already locked in a loan.

Congress’s New Favorite Four-Letter Word: Jobs
The Washington Post | March 7, 2012
Wake the kids and alert the neighbors: The White House, House Democrats and House Republicans actually agree on something.

Will High Gas Prices Slow Housing Demand From Millennials?
Forbes | March 7, 2012
As gas prices approach $4 a gallon again, some may wonder if we’ll see another decline in the housing market.  The largest future consumers of housing will be Generation Y, a massive generation of 80 plus million members. 

Md. Couple Stays in $1.29 Million Home for Five Years Without Paying
HousingWire | March 7, 2012
Stories of people staying in their homes for months, or even more than a year, while neglecting to pay their mortgage seem commonplace these days. But what about five years? 

 

Inspector General redacts key Freddie Mac financial data
HousingWire | March 7, 2012
If you gave someone $72.2 billion to keep them afloat, you would probably want to know how they plan to save money in the future. The Federal Housing Finance Agency and Freddie Mac don’t agree with you.

There are Only Three True Job Interview Questions
Ted C. Jones Blog | March 7, 2012
Since we talked about the Traits of Remarkable Employees last time–and what a great response, thank you–let’s add one additional article to the Human Resource side.  Even though this article is about questions when hiring an employee (or answering as an applicant), self-employed individuals should also address these three questions. (More good stuff from Dr. Jones today ~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 March 8, 2012 in Real Estate news

 

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Real Estate News Today 2-24-2012


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

Bank of America Breaks With Fannie Mae
The New York Times | February 23, 2012
Bank of America said Thursday that it would no longer sell new mortgages to Fannie Mae, underscoring tensions in a fight between giants of the home loan market over billions in losses in the housing bubble.

Ranieri: The Case for Converting Foreclosures to Rentals
The Wall Street Journal | February 23, 2012
One of the pioneers of the U.S. housing-finance system is strongly endorsing government efforts to convert foreclosed homes into rental properties.

FHFA: 4Q Home Prices Down 2.4%
HousingWire | February 23, 2012
U.S. home prices fell in the fourth quarter of 2011 from a year earlier, according to the Federal Housing Finance Agency’s purchase-only house price index.

MBA: Rising Rental Costs May Drive Home Sales Up
HousingWire | February 23, 2012
Home sales could turn out sunnier than expected this spring based on data coming out of the rental market, according to economists at the Mortgage Bankers Association.

Moody’s: Big Banks Unlikely to Suffer From AG Mortgage Settlement
HousingWire | February 23, 2012
The $25-billion mortgage servicing settlement is expected to result in little financial impact on the nation’s big banks, Moody’s Investors Service said.

JPMorgan Places $72 Billion Bet on Global Homeowners
Bloomberg | February 23, 2012
JPMorgan Chase & Co. (JPM) has more than tripled its holdings of mortgage securities without U.S. government guarantees to $72 billion as the nation’s biggest bank bets on borrowers from outside the country it calls home.

Figuring Out How to Attract New Business
New York Times | February 23, 2012
We recently took a step back to look at the clients we have on our roster and how they got there. Interestingly, the majority did not enter our stable via our outbound marketing efforts, our list of targets to go after. Why was that, we wondered. A recent new business initiative may have provided the answer.

Revenue Eases Budget Pain for U.S. States
Bloomberg | February 23, 2012
For the past four years, U.S. states struggled to close more than $500 billion of budget shortfalls caused by the recession, ushering in tax increases, spending cuts and clashes with public-employee unions. With the economy recovering, officials gathering in Washington today for the National Governors Association winter meeting are beginning to face a welcome choice: how to spend extra money.

From the National Association of Realtors®:

How 23 Laws Impact Real Estate
New infographic shows when and how two dozen laws affect the real estate transaction. [This is a pretty good visual aid on all of the different laws that come into play.  Three issues come to mind worth mentioning: 1) This doesn’t even begin to cover state and/or local laws, these are all federal, 2) what a great way to show a Realtor’s value to clients who are thinking FSBO is the way to go, and 3) if you are a newbie or a veteran, I’ll bet there is at least one on here you didn’t know anything about. ~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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