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Real Estate News Today 4-4-2012


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

We topped 300 likes to our Stewart Title Spokane Facebook page this week, check it out!  Facebook

Tips for First-Time Home Sellers
FOX Business | April 3, 2012
Selling a home is one of the biggest financial transactions most people ever do in their lives. And the current real estate market, still plagued with a record number of foreclosures and short sales, can be a challenge for anyone.  (Some GREAT advice here.  It’s certainly worth the read if you’re considering selling your home. Choose to use a real estate agent, and choose Stewart Title!  ~Anthony)

Fed Sees Improving Economy Reducing Need for Stimulus
Bloomberg | April 4, 2012
Federal Reserve policy makers see the improving economy reducing the need for new stimulus even as they stick to a plan to hold the benchmark interest rate near zero at least through late 2014.

Foreclosure ‘Starts’ Fall in February
The Wall Street Journal | April 3, 2012
Housing pundits have warned that banks were likely to jumpstart the foreclosure process after finalizing their $25 billion settlement with the federal government and 49 state attorneys general. But so far, there’s little indication of a lift in foreclosures.

Time to Sell Penthouse. The Russians Have Cash
The New York Times | April 3, 2012
The high-end real estate market is enjoying a remarkable rise, fueled largely by wealthy Russians.

U.S. Home Market Pulls in More Chinese Buyers
USA Today | April 3, 2012
China’s great wall of cash is pouring into the struggling U.S. property market, from multi-million-dollar mansions on the West Coast to venerable hotels on the East Coast.

IRS Already Gearing Up for Health-Care Crackdown
FOX Business | April 1, 2012
The rest of the country may be waiting for the U.S. Supreme Court to decide the fate of President Barack Obama’s health-care law, but the Internal Revenue Service is wasting no time.

Lenders’ Risk Managers Expect Mortgage Delinquencies to Drop
DSNews | April 3, 2012
FICO’s quarterly survey of bank risk professionals found a reversal in the sentiment of U.S. lenders, with expectations for loan repayments more upbeat in the first quarter of 2012 than they had been during the previous quarter. 

Will Housing Prices Soar By 2014?
Realtor Magazine | April 3, 2012
Find out what real estate economists and analysts predict for the housing market over the next two years.  (Soar?  That may be a bit of an exageration, I’d be thrilled if the market were simply up.  Maybe I’ll put this article in my calendar for two years from now and see if I’m right or they are. (:-) ~Anthony)

Canada’s housing bubble exists, and it’s stretched thin
HousingWire | April 3, 2012
The hot housing market in Canada seems all too familiar. More mortgages without down payments, rising home costs without matching rises in income, and an extremely high ratio of house prices to rents. It all spells a bubble waiting to burst. 
 

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 3-1-2012


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

Bernanke Strikes Cautious Tone Amid Signs Economic Recovery Accelerating
Washington Post | February 29, 2012
The U.S. economy started the year with a burst of healthy activity, according to a Federal Reserve survey Wednesday that reported that the country’s factories and stores and even the troubled housing market appeared to be gaining momentum.

Economy Grew at 3 Percent Pace in Final Quarter of Last Year
Washington Post | February 29, 2012
Stronger hiring and higher pay and savings should support solid growth for the economy in coming months.

Fannie Mae, BofA At Odds Over Who Dumped Whom
Forbes | February 29, 2012
Things are getting strange in an ugly breakup between Fannie Mae and Bank of America.

California AG Announces Homeowner Bill of Rights
Reuters | February 29, 2012
California’s attorney general Kamala Harris on Wednesday proposed a homeowner bill of rights that she said will guard against a repeat of widespread mortgage abuses among America’s lenders.California’s attorney general Kamala Harris on Wednesday proposed a homeowner bill of rights that she said will guard against a repeat of widespread mortgage abuses among America’s lenders.

Quest for Paperless Mortgages
American Banker | March 1, 2012
Any banker or borrower who has attended a mortgage closing understands the benefit of electronic signatures, technology that lets users click to sign documents rather than hand-write their name dozens of times. Electronic signatures have been legal in the United States since 2000. But a lack of acceptance at the Federal Housing Administration and the Internal Revenue Service has prevented some lenders, even technologically advanced ones, from using the technology for any mortgage documents.

Banks Step Up Commercial Property Lending
Reuters | February 29, 2012
U.S. banks increased lending for commercial real estate and apartment buildings for the first time in nearly two years in the fourth quarter of 2011, another sign of confidence in the improving U.S. economy.

Bernanke Says Lack of Down Payment, Job Concerns Hurt Housing
HousingWire | February 29, 2012
Federal Reserve Chairman Ben Bernanke suggested that affordable housing prices and low interest rates are not enticements for potential buyers lacking down payments and job security.

Michael Jordan’s Estate
The Wall Street Journal | February 29, 2012
Former NBA star Michael Jordan has put his longtime Chicago-area home on the market for $29 million. The compound includes a nine-bedroom home and an indoor basketball court.

Home Prices – A Whole Lot Better Performance Than Autos
Ted C. Jones Blog | February 29, 2012
Yesterday the Case-Shiller Index (owned by Standard and Poors), reported that U.S. home prices declined once again, now down from the peak on a national average 33.9 percent based on  the 20-city composite index.

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 2-22-2012


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

FHFA Releases Plan for Freddie, Fannie Exit
The Washington Post | February 21, 2012
A federal housing regulator on Tuesday released a plan for beginning to scale back mortgage giants Fannie Mae and Freddie Mac — just as the Obama administration is pressing the taxpayer-backed companies to do more to help homeowners.

Grubb & Ellis Files for Bankruptcy
HousingWire | February 21, 2012
Commercial real-estate firm Grubb & Ellis filed for Chapter 11 bankruptcy protection as it faces liquidity problems and $30 million in debt that matures on March 1. Financial brokerage firm BGC Partners agreed to acquire the Santa Ana, Calif.-based firm with a $30 million credit bid.

Critics: Fed’s housing push crosses a line
The Washington Post | February 21, 2012
Senior Federal Reserve officials are injecting themselves into a noisy debate over how to solve the housing crisis, drawing criticism from some lawmakers who say the Fed has no business straying from its traditional role as the U.S. central bank.

Should Mortgage Rates Even Be Lower?
The Wall Street Journal | February 21, 2012
Mortgage rates are the lowest on record. But by a key historical measure, they should be even lower. Over the past year, a wide gap ripped open between the mortgage rates house hunters see and a benchmark interest rate investors demand to buy bonds backed by home loans.

Delinquency Rate Falls in January But Foreclosure Starts Rise: LPS
HousingWire | February 21, 2012
The delinquency rate on U.S. mortgages monitored by Lender Processing Services fell in January but foreclosure starts rose.

Under Volcker, Old Dividing Line in Banks May Return
New York Times | February 21, 2012
The Volcker Rule, and its limitations on bank trading, may have the unintended effect of dividing the world back into investment banks and commercial banks. The unusual twist here is that Goldman Sachs and Morgan Stanley may end up stuck on the wrong side of the fence, treated under the law as commercial banks instead of the investment banks they once were.

Moderate Growth Projected for 2012
DSNews | February 21, 2012

Overall, growth is expected to continue for the year, but at a modest rate, according to the Fannie Mae February 2012 Economic Outlook report.

IRS Releases the Dirty Dozen Tax Scams for 2012
IRS.gov | February 16, 2012
The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

From the National Association of Realtors®:

The 10 Most Popular Housing Markets
Find out which real estate markets garnered the most clicks at Realtor.com last month.

Is the Downsizing Trend Fading?
New homes built in 2011 were bigger in size and had more amenities and features compared to homes built in 2010, new Census data shows.

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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