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Real Estate News Today 1-12-2012


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

Poll: Don’t Tread on My Mortgage-Interest Deduction
The Wall Street Journal | January 11, 2012
The National Association of Home Builders has a message for political candidates: Americans don’t want anyone messing with the popular mortgage-interest tax deduction.

Fed Says Economy Expanding, Housing Market Still Dead
Forbes | January 11, 2012
latest Fed Beige Book shows. Covering the month of December, all twelve Fed districts noted some level of expansion in activity, as the economy rode the holiday wave and increased consumption trends vis-à-vis 2010.

Fed: Final Weeks of 2011 Were Among the Best of the Year for U.S. Economy
The Washington Post | January 11, 2012
Consumers spent more, factories made more goods, Americans stepped up travel and the auto industry excelled.

The CFPB Just Rolled Out A Road Map For How It Will Police Mortgage Lenders
Business Insider | January 12, 2012
Just days after Richard Cordray slipped into the director’s chair, the agency said it was ready to start cracking down on those much-maligned nonbank mortgage lenders. Now we know exactly how they plan to do that.

Home Price Declines Consistent Across The Country
DSNews | January 11, 2012
Marking the fifth consecutive month of decline, home prices fell 0.8 percent in October, matching levels last seen in 2002, according to Lender Processing Services’ (LPS) Home Price Index released Wednesday. As of October, the national home price average was $200,000.

Gen-Y Demographic Could Quickly Vacate Apartments for Homeownership
Multifamily Executive | January 10, 2012
Take it while you can get it, say single-family housing experts, who expect Gen Y to cycle out of the rental market as wage growth stabilizes and mortgage lending loosens against a backdrop of expected rent increases.

Bank profit reports could be lifted by business loans
Reuters | January 12, 2012
A recent rise in loans to businesses is spurring hope that U.S. bank earnings reports, which begin on Friday, will show the outlook for this economically critical industry is better than battered stock prices and weak investment banking volumes suggest.

When a homeowner becomes a landlord
The Washington Times | January 5, 2012
Homeowners in the D.C. area often find themselves assigned to offices in other parts of the world for a year or two at a time and need to rent their property to generate added income. Other homeowners are waiting for the economy to improve before putting their homes on the market and are becoming landlords in the meantime. Homeowners trying to avoid foreclosure also may choose to rent their property, cover the mortgage with the rental payment and move to a less expensive home while waiting for home values to rise and their finances to improve.  (While the reporter certainly focuses the content on the Washington D.C. market, the article does give a good overview of issues to consider when a homeowner is considering converting their real estate to a rental. ~Anthony)

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
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