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Real Estate News 6-8-2012

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

Fed Chairman Warns Congress of ‘Fiscal Cliff’ Risks
The Los Angeles Times | June 7, 2012
Fears of a new recession grow as Bush-era tax cuts are set to expire Dec. 31 and automatic spending cuts are set to follow.

U.S. Homes Actually Got Bigger During Ugly 2011
CNBC | June 7, 2012
For the first time in four years, the size of the average new American house increased slightly in 2011 -– to 2,480 square feet from 2,392 square feet in 2010, according to new figures from the Census Bureau.  (I have a friend who was in the big builder business for years that made this argument a few years ago: The reason the average home size was shrinking was NOT that most Americans wanted a smaller home.  It was simply that the average buyer could afford less than they used to.  That seems to be proving true in that as the economy slowly recovers, the average home size is now increasing.  Thanks Larry! ~Anthony)

In New Meetings with CFPB, Mortgage Lenders Find More Questions than Answers
Reverse Mortgage Daily | June 7, 2012
Mortgage industry representatives have been meeting with CFPB officials to talk about uncertainties and concerns regarding the CFPB’s plans to establish new loan originator compensation rules.

Millions of LinkedIn Passwords Reportedly Leaked Online
CNET June 6, 2012
A user in a Russian forum says that he has hacked and uploaded almost 6.5 million LinkedIn passwords.

CoreLogic: Nearly 4 Million Homes at Risk for Storm Surge Damage
DSNews | June 7, 2012
CoreLogic’s third annual Storm Surge Report, released Thursday, showed that just over four million homes in the United States are at risk of hurricane-driven storm surge damage.

Google Launches 3D Maps to Stay Ahead of Apple
The Wall Street Journal | June 6, 2012
Google unveiled an expansion of its Google Maps and Google Earth services-including 3-dimensional maps-in a move that ups the ante ahead of an anticipated new mapping service from rival Apple.

REO Price Increases Bode Well for Overall Market
RealtorMag | June 7, 2012
Recent price increases with bank-owned homes are helping to provide an overall boost to the housing market, a recent report from Clear Capital says. 

For those of you that have asked what you can do for the Erickson family: 

Donations for the Erickson family can now be deposited at Washington Trust Bank or made in the name of:
The Jay and Katrina Erickson Memorial Fund
c/o Stewart Title
606 W. 3rd Ave
Spokane, WA 99201


Please pass this along to anyone you think may be interested. 


The grandparents are now at the Chitokoloki Mission Hospital in Zambia picking up the two little girsl to bring them back to the US.  The president of Zambia declared a day of mourning for the Ericksons and thousands of people from all over Zambia attended the funeral.  There are lots of updates and pictures on the site.



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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


Please remember to choose Stewart Title of Spokane on your next transaction!


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Posted by on June 8, 2012 in Real Estate news


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