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Real Estate Today 8-10-2012


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Q&A: House Flipping Still at Home on Reality TV
The Wall Street Journal | August 9, 2012
Boom or bust, flipping never really goes out of style, particularly on reality TV. (There are lots of risks involved in flipping houses.  I strongly recommend against it unless you have lots of experience AND lots of cash so you won’t need to borrow.  But if you believe everything you see on tv, the toughest thing a flipper might deal with is bees. ~Anthony)

In Real Estate Deal, Romney Made His Loss a Couple’s Gain
The Washington Post | August 9, 2012
Look closely and it is there, sandwiched between Goldman Sachs Hedge Fund Partners II and D3 Family Bulldog Fund: the mortgage on Timothy and Betty Stamps’s modest home on Gentle Bend Drive here.

Median Home Price Takes Biggest Jump Since 2006
The Wall Street Journal | August 9, 2012
Fewer deeply discounted foreclosures are being sold these days, and that means the median price of homes sold in the U.S. is on the rise.

LPS: Refinancing Surge for High-interest, Underwater Borrowers
HousingWire | August 9, 2012
High-interest borrowers in negative equity are refinancing – or prepaying out of their bonds – at a rate four times higher than at the end of last year, according to Lender Processing Services.

Paulson’s Latest Housing Bet: $17 Million of Las Vegas Land
The Wall Street Journal | August 9, 2012
John Paulson is betting on a U.S. housing industry recovery, and he just raised the stakes.

Builder confidence in older homeowners more than doubles
HousingWire | August 9, 2012
Builder confidence in the single-family housing market for mortgage borrowers aged 55 and older improved in the second quarter from a year ago, according to the National Association of Home Builders.  (We’d love your thoughts on how you think this demographic will affect your market area.  In Spokane, we have a higher percentage of retirees than the average American community. How will that affect new construction here, if at all? ~Anthony)

Entire Crounty’s Tax Foreclosures Bought Up
RealtorMag | August 9, 2012
The municipal government in Macomb County, Michigan, sold off its entire “inventory” of tax-foreclosed properties — 650 total — to a single buyer for $4.8 million.

Two great articles below on the “Eminent Domain” issue:

FHFA Pushes Back on Eminent Domain Policy in California
The MReport.com | August 9, 2012
FHFA issued a notice Wednesday to warn of the controversial use of eminent domain recently proposed in San Bernardino County.

Eminent domain, wrongly redefined
HousingWire | August 9, 2012
Eminent domain is supposed to be used for putting in a highway, building a bridge, benefiting everyone by promoting growth and driving jobs. In San Bernardino, they’re hoping that if they can just reset values, people will start paying taxes again and generate the revenue they need to pay civil servants. You don’t want to live where there is limited police, garbage collectors or firemen, trust me.

 
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Posted by on August 10, 2012 in Real Estate news

 

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Real Estate News Today 7-11-2012


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

Zillow appeals to MLSs for direct listings feeds
Inman News | July 9, 2012
Real estate portal Zillow has appealed to multiple listing services to provide Internet Data Exchange (IDX) listings data directly to the site, originally claiming that it can “sometimes be days” before syndicators like ListHub provide new or revised listings to the site. (Industry folks seem to have strong feelings about Zillow on one extreme or the other.  How do you feel about this latest request from them? ~Anthony)

Consumer Rights Group: Outdated Laws Are Causing Second Crisis
DSNews | July 10, 2012
According to a report from the National Consumer Law Center, laws in many states allow local governments to sell property through a tax lien foreclosure process if the owner falls behind on property taxes. (I’m not sure I buy the story that tax lien foreclosure laws are outdated.  Much of our local and state budgets are funded by real estate taxes, and the only way to force payment is through foreclosure.  That said, many communities and states allow exemptions for the elderly and/or disabled.  Agree or disagree?  ~Anthony)

California Mortgage Seizures Could Affect $7 Billion in Bonds, Fitch Says
The Wall Street Journal | July 10, 2012
The contemplated seizure of residential loans by three California municipalities puts returns on roughly $7 billion in mortgage-backed securities at risk if a proposal is adopted, according to a Fitch Ratings report on Monday.

When Foreclosure Supplies Fall, the Bottom Falls Out of Housing
CNBC | July 10, 2012
Growing activity in the spring housing market brought new growth in home prices, but those gains are growing ever more precarious because they are dependent on low-priced, distressed properties.

BofA Give-Away Has Few Takers Among Homeowners: Mortgages
Bloomberg | July 11, 2012
When Bank of America Corp. sent letters to 60,000 struggling homeowners offering to slice an average $150,000 off their loans, the lender got an unusual response from most of them: silence.

Four Tips for Better Phone Camera Shots
The New York Times | July 2, 2012
To be fair, it isn’t all the phone camera’s fault.

Homebuilders concerned about lack of skilled labor
HousingWire | July 10, 2012
Forty percent of single-family homebuilders are planning on hiring or contracting skilled laborers during the next year, but 62% worry they won’t be able to find them, said a study released Tuesday by the National Association of Home Builders.

Can You Get Me the Best Price Available?
The KCM Blog | July 11, 2012
Whenever a person sells anything, they hope to get the highest price possible for the item. This obviously applies when a homeowner sells their house. In many cases their home is the largest investment they have ever made and hope to get the highest possible return on that investment. For that reason, they will want to see that you can give them the right advice in order for them to get them ‘the best price possible’.

Here are two other risks of doing a short sale as suggested to me by a local lender.  I’m assuming both situations have occurred to clients he was working with:  

Lender guideline changes between pre-qualification and actual closing. Example- Fannie is implementing many changes in October that could put someone who qualifies on a short sale today, out of the game.

Buyer credit profile change- buyer accidentally goes late on a payment while waiting for short sale process and now doesn’t qualify.

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 6-4-2012


At Stewart Title of Spokane we are mourning the passing of one of our staff. Cameron Jay Erickson left us in February to become a missionary/hospital pilot in Zambia. He ws killed along with his wife this last weekend in an airplane accident in Zambia.  Please keep the Erickson family in your thoughts and prayers.  Jay’s missions blog can be found here: www.missionflying.com
Today’s news that may be of interest to you: 

Federal Government Unloads Real Estate
CNN Money | May 31, 2012
The federal government, the nation’s top property owner, said Thursday that it is on track to save $8 billion by the end of the fiscal year by consolidating its real estate holdings and selling off the excess.

Financial Crisis Sends Euro Zone to Tense Endgame
The Washington Post | May 31, 2012
The European Central Bank chief calls the currency union “unsustainable” and says more central control of national finances is needed if it is to survive.

Multiple Offers Make a Comeback in Residential Real Estate
Philadelphia Enquirer | May 31, 2012
Guess what’s back in the real estate vocabulary for many neighborhoods and communities? Multiple offers.

Refinancing Effort Grows, But Levels Still Low for Most ‘Under Water’
The Wall Street Journal | June 1, 2012
The number of homeowners who have refinanced their home loans under a revamped federal program for those with sunken property values is rising, but the effort is just starting to reach the most severely “underwater” borrowers.

The U.S. Housing Crisis: Where are Home Loans Underwater?
Zillow Blog | June 1, 2012
With U.S. home values falling by nearly 25% since peak in 2007, many homeowners are now underwater in their mortgages, meaning they owe more than their home is worth. Search Zillow’s interactive map to discover what percentage of homes in your county or ZIP code are in negative equity, based on Zillow’s first quarter 2012 data.

Study: Buying a House Makes People Less Entrepreneurial
The Washington Post | June 3, 2012
The recent bust was a rude awakening about the downsides of owning a home. Researchers have uncovered yet another potential drawback: Purchasing a home makes people 20 to 25 percent less likely to start their own business.

Gen Y Is Ready to Buy
RealtorMag | June 1, 2012
Forty-seven percent of Generation Yers say they plan to purchase a home within five years or less, according to a new study released by Western Union. That tops the general population, 29 percent of which say they plan to buy a home in the next five years or less. 

What Are Renters Looking for in Housing?
RealtorMag | May 31, 2012
When it comes to apartment living, more renters want convenience and to be near urban and public transportation hubs, according to industry experts during a recent webinar hosted by the National Association of Home Builders. 

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 4, 2012 in Real Estate news

 

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Real Estate News Today 4-17-2012


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

Short Sales Surpass Foreclosures as Banks Agree to Deals
Bloomberg | April 17, 2012
Short sales accounted for 23.9 percent of home purchases in January, the most recent month available, compared with 19.7 percent for sales of foreclosed homes, data compiled by Lender Processing Services Inc. show.

Fitch Expects 10% Rise in Single-Family Housing Starts
HousingWire | April 16, 2012
Fitch Ratings believes single-family housing starts will increase 10% in 2012, while new home sales will rise 8%, according to the firm’s latest U.S. homebuilding update.

Report: Sellers’ Asking Prices Rose in March
The Wall Street Journal | April 17, 2012
Here’s a sign that sellers are feeling more optimistic about their prospects this spring: median asking prices in March jumped by 5.6% from a year ago, and were up 1% from February, according to a report released Tuesday.

Lenders Fear Impact of New Mortgage Rule
The Wall Street Journal | April 16, 2012
U.S. mortgage lenders and real-estate agents are growing concerned a new set of mortgage-lending standards under development by a new consumer regulator will imperil the fledgling housing recovery and limit the availability of home loans.

Builders Less Confident, But Still Happy to Be Here
The Wall Street Journal | April 16, 2012
Home-builder optimism slipped in April, according to the latest survey released Monday by the National Association of Home Builders.

Title Companies Bounce Back in Sacramento Area
Sacramento Bee | April 17, 2012
Title companies, which scattered to the winds when the downturn hit, are opening offices and hiring new staff.

Building a Better Bailout: Can Fannie and Freddie Help American Homeowners?
TIME | April 17, 2012
Since the financial crisis, American taxpayers have collectively made all sorts of investments that would have been unthinkable ten years ago. We bought stakes in the auto and insurance industries and, perhaps most significantly, the residential housing market.

Fading ‘Fear Factor’ Among Home Buyers?
Realtor Magazine | April 16, 2012
“The biggest challenge that we’ve had over the past four years is fear. The fear factor is all but gone,” says one real estate broker. 

How to Get More Customer Attention With Your Web Site
Realtor Magazine | April 16, 2012
Forbes.com recently offered up ideas to get potential customers to visit your Web site and improve chances of then hooking them as clients.  

The 7 upgrades we want most in our homes
MarketWatch | April 11, 2012
When homeowners plan for their next house, or plan the remodeling projects that they want to undertake on their current home, there are seven priority spaces that they are focusing on, according to a survey of Better Homes and Gardens readers. If you’re dreaming of a new space this year, here are the top areas you might want to consider.
 

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 3-19-2012


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

Mortgages for Drilling Properties May Face Hurdle
The New York Times | March 18, 2012
The Department of Agriculture is considering requiring an extensive environmental review before issuing mortgages to people who have leased their land for oil and gas drilling.

Mortgage Burden for Bales Familiar Story for U.S. Troops
Bloomberg | March 19, 2012
The housing finance setbacks that confronted Army Staff Sergeant Robert Bales, the soldier accused of killing at least 16 civilians in Afghanistan, are one part of his story that many U.S. troops would recognize.

Housing Market at Center of Mortgage Crisis is Blooming Again
CNN | March 17, 2012
Want a sign of economic hope? Look to a place where the housing collapse began: Phoenix, Arizona.

Fannie Mae’s Property Sales Generate Investor Interest
Reuters | March 19, 2012
Some big investors have shown interest in buying foreclosed properties being sold in bulk by Fannie Mae, the largest U.S. home funding source, the Wall Street Journal said citing people familiar with the process.

Housing Bulls Aren’t So Far Out on a Limb
The Wall Street Journal | March 18, 2012
Plenty of economists and executives have fallen on their faces proclaiming a recovery in the housing market. But there is reason to feel hopeful about new construction.

The House Made From 100 Cars
CNN Money | March 18, 2012
Reclaimed wood, pieces of junkyard cars, and an old shipping container all went into building this super eco-friendly California home.

Nearly 100 Housing Markets Improve in March: NAHB
The MReport | March 16, 2012
Fewer declines in housing permits, strengthening job numbers, and stabilizing home prices helped field improvements in nearly 100 housing markets in March, according to the National Association of Home Builders (NAHB).

Housing policy impedes mortgage market recovery: Edward Pinto
HousingWire | March 19, 2012
Policymakers who built a housing market based on lax underwriting for political purposes are now stalling a housing recovery with aggressive legislation and a failure to let the housing market clean itself up, according to Edward Pinto, resident fellow at the American Enterprise Institute.

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 3-5-2012


Check out this one-minute video where I demonstrate our super-easy seller net proceeds worksheet!  Net Proceeds Worksheet video 

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

Commercial Real Estate Cycle – Dr. Glenn Mueller at Dividend Capital
Ted C. Jones Blog | March 5, 2012
Dr. Glenn Mueller (at Dividend Capital which has several REITs) is one of the top experts in Commercial Real Estate Cycles and produces a quarterly report on commercial real estate market cycles covering more than 50 Metropolitan Statistical Areas (MSAs) including five property types.  And thanks to the acquisition of a prior data provider to this data series by the CoStar Group (and CoStar’s rich data), the Dividend Capital–Glenn Mueller’s analysis is even more inclusive and market-spanning today than ever before. 

Companies Foreclose; Blight Follows
The New York Times | March 3, 2012
Every few weeks, Alvin Chandra cleans up the garbage that has accumulated in the vacant lot next to his granite fabrication plant on Adeline Street in West Oakland — soiled mattresses, worn-out sofa beds and piles of used fast food containers.

Speculators Who Inflated Property Bubble to Get U.S. Loan Help: Mortgages
Bloomberg | March 5, 2012
The Obama administration will extend mortgage assistance for the first time to investors who bought multiple homes before the market imploded, helping some speculators who drove up prices and inflated the housing bubble.

Multifamily Housing Performance a Mixed Bag
HousingWire | March 2, 2012
The performance of the multifamily housing segment is a mixed bag with occupancy rates and rents going up even as delinquencies in certain Fitch-rated CMBS loans rise, the ratings giant said Friday. 

Barclays: Housing supply could normalize in 2014
HousingWire | March 2, 2012
If construction remains at or slightly above last year’s levels, and household formation rates rise to 1.1 million, the supply of housing will begin to normalize in two to four years, analysts at Barclays Capital estimate.

NAHB Sees Expanded Role for Federal Home Loan Banks in Housing Reform
HousingWire | March 2, 2012
The National Association of Home Builders released its blueprint for housing finance reform that it said will transition Fannie Mae and Freddie Mac into a new private-sector securitization system.

Caribbean Getaways Ensnare U.S. Buyers
The Wall Street Journal | March 3, 2012
Vacation homes typically conjure up dreams of blue skies, pristine sand and crystalline waters. But for Richard Cichanowicz, buying property in paradise has become a nightmare.

Losses Mount from Scams Targeting Older Americans
The Wall Street Journal | March 3, 2012
Boomers beware: Scams, frauds and other financial exploitation schemes targeting older Americans are a growing multibillion-dollar industry enriching the schemers, anguishing the victims and vexing law enforcement officials who find these crimes among the hardest to investigate and prosecute.

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 2-29-2012


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

Top Ten Higher-End Items Builders Will Likely Omit in 2012
Ted C. Jones Blog | February 21, 2012
The National Association of Home Builders surveyed their membership on what features will likely not be included in 2012 construction as much as in the past.  Builders were asked to rate these amenities from 1 to 5 with 5 being more likely to be included.

Housing Prices at Lowest Level Since ’02
Washington Post | February 29, 2012
The nation’s home prices have fallen to their lowest level since 2002, according to a private report, casting a troubling shadow over what has otherwise been a brightening economic recovery.

Where Housing Is Headed
The Wall Street Journal | February 28, 2012
The stage is set for a housing bottom in more markets, as prices have fallen modestly and inventory has dropped sharply. But two big questions loom: Will buyers’ confidence improve enough to increase sales? And will more homes hit the markets as banks process more foreclosures and traditional sellers move off the sidelines?

A Look at Case-Shiller by Metro Area.
The Wall Street Journal | February 28, 2012
The national composite, which covers the entire country and is only released on a quarterly basis, was down 4% from a year earlier and fell 3.8% in the fourth quarter compared with the third.

Refi Plan Under Way, But Disagreement on Future Changes
The Wall Street Journal | February 28, 2012
Two top U.S housing officials say the early results of a newly expanded refinancing program show it could indeed be a boost for the ailing housing market. At the same time, a federal housing regulator did not appear inclined Tuesday to enact further changes.

FHA to Review New Condo Restrictions
HousingWire | February 28, 2012
The Federal Housing Administration may revise recent regulations some say are hurting purchases and refinances for condominiums.

Risks Remain for FHA Insurance Fund, Donovan Says
HousingWire | February 28, 2012
Despite the unprecedented efforts of the administration to alter the trajectory of the Federal Housing Administration, considerable risks remain, Housing and Urban Development Secretary Shaun Donovan said.

Regulation Fuels 21% Surge in Bank Checking Fees, Javelin Says
Reuters | February 28, 2012
Consumers pay about 21 percent more in fees for basic checking accounts than they did six years ago, according to a study released today.

Las Vegas Loses Standing as Mortgage-fraud Capital
Las Vegas Review-Journal | February 28, 2012
Las Vegas, once identified as “ground zero” for mortgage fraud, is no longer among the nation’s top five regions for mortgage fraud per capita, according to an analysis by CoreLogic, a consumer financial information and research firm.

Anthony Carollo

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 2-13-2012


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

New Commercial Real Estate Statistics from CoStar
Ted C. Jones Blog | February 9, 2012
CoStar, a premier provider of real estate information, now has the best series for commercial real estate sales volumes, as unlike others, it is not restricted to minimum price levels nor to specific types of ownership. 

Community Banks and Credit Unions Brace for End of Fannie, Freddie
The Washington Post | February 12, 2012
As the Obama administration forges ahead this spring with plans to wind down mortgage giants Fannie Mae and Freddie Mac, community banks and credit unions are bracing for the impact.

Bernanke: No ‘Silver Bullet’ for Housing Woes
The Wall Street Journal | February 11, 2012
What more can the Federal Reserve do to help the home-building industry? That was the question in the air when Fed Chairman Ben Bernanke took the podium Friday at the National Association of Home Builders’ International Builders Show for a keynote speech.

Mortgage problems? Turn Your House Into a Billboard
Reuters | February 13, 2012
When they saw the house on El Dorado Drive in this Los Angeles suburb being painted a startling orange and green and giant billboards hung on the outside, Scott and Beth Hostetler’s neighbors were initially angry and confused. Some even considered calling the police.

Gallup Poll Shows Economy Still Top Worry for Most Americans
HousingWire | February 11, 2012
Most Americans are dissatisfied with the economy and with policymakers in Washington, but a certain amount of mild optimism started to emerge late last year, a new Gallup survey said.

In Today’s Topsy-turvy Housing Market, Cash Rules
Star Tribune | February 11, 2012
When Chris and Diane Finney decided to buy a bank-owned condo in St. Paul, they knew there would be competition. Their strategy? Offer less — but offer cash. While others said they would pay more, they needed to finance the deal. The bank took less and took the cash.

White House Steps Up Pressure for Fannie, Freddie Mortgage Write-downs
The Hill | February 12, 2012
The Obama administration signaled that it is stepping up pressure on Fannie Mae and Freddie Mac to provide mortgage-principal reductions for holders of government-backed loans, a move strongly supported by congressional Democrats. 

From the National Association of Realtors®:

Income, Job Gap Between Young and Old Widens
Young Americans have it rough. In fact, nearly 70 percent of the public says it’s more difficult for young adults today than their parents’ generation in finding a job, buying a home, and saving for the future.

Squatters Busted With Surprising Finds in Miami Home
When a home falls into foreclosure and is left abandoned, you can never be too sure what you may come across. Authorities certainly weren’t expecting this.

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 2-10-2012


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

I realize that the first five articles all relate to and discuss the huge settlement with the attorneys general from the states.  However, it seems to me this could be a watershed moment in our industry and important enough to get you all the information I can. ~Anthony

Deal will mean $648 million for those with troubled mortgages in the state
The Herald (Everett, WA) | February 9, 2012

A $25 billion agreement reached Thursday between states and the nation’s biggest mortgage lenders should help several thousand Washington homeowners refinance, and thousands more who’ve lost their houses through foreclosure could receive checks for $2,000 each.  (I like this quote from the article: “But unlike money the state collected in the tobacco suit, funds received through the mortgage settlement must go to homeowner assistance and cannot be used to fill a gap in the state budget, McKenna said. He said he made that point to Gov. Chris Gregoire’s staff and legislative leaders of both political parties when he briefed them on the deal earlier this week.” ~Anthony)

Landmark Settlement With Banks Means Billions to Help Homeowners
The Washington Post | February 9, 2012
State and federal officials on Thursday announced a settlement of $26 billion with five of the nation’s banks over flawed and fraudulent foreclosure practices that affected several million homeowners and became commonplace after the housing boom turned to bust in recent years.

Multistate AG Settlement Unfairly Punishes Investors: Amherst
HousingWire | February 9, 2012
The $26 billion settlement between government officials and the five largest mortgage servicers will exacerbate servicer conflict of interest by allowing the banks to use investor dollars to satisfy their obligations, according to Amherst Securities Group.

Q&A: What Homeowners Need to Know on the Deal
The Wall Street Journal | February 9, 2012
The $25 billion foreclosure settlement unveiled Thursday is expected to help many borrowers who are struggling to make their loan payments, owe more than their homes are worth or have lost their homes to foreclosure.

Down the mortgage finance rabbit hole
HousingWire | February 9, 2012

The $26 billion mortgage servicing settlement with state attorneys general drew enough praise and criticism Thursday to show we are only at the top of the mortgage finance rabbit hole.

Builders Unveil New, More Social, Homes
The Wall Street Journal | February 9, 2012
Each year at the National Association of Home Builders‘ IBS convention, thousands of companies display their wares and try to market new products. They also build a few new homes.

Does the Public Blame Banks for Housing Woes?
The Washington Post | February 9, 2012
Most see banks as at least partly responsible for the nation’s housing woes, but polls show they are far from the only culprits.

Spokane home sales on rise; prices declining
The Spokesman-Review | February 9, 2012

Over the past seven months, Spokane County home sales have been increasing compared to the year before, indicating the area may have made the first step toward a housing rebound. The next step – gains in the sale prices of Spokane homes – may still be months off, said Rob Higgins, executive officer of the Spokane Association of Realtors.

From the National Association of Realtors®: 

Fannie Starts Accepting Online Offers for Properties
Make your offer online, Fannie Mae is telling real estate agents for the launch of its new nationwide program that allows you to submit and track offers for Fannie Mae-owned properties via a new Web site.

Agents Make Unexpected Finds in Foreclosures
Watch for skeletons in the closet … literally.

Anthony Carollo

Find me on:     

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 2-7-2012


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

No housing halftime for Detroit
HousingWire | February 6, 2012
In the recent Super Bowl commercial from Chrysler, the venerable Clint Eastwood declares “It’s halftime in America. And our second half is about to begin.” The car advert focuses on Detroit as an example of the perseverance at the heart of the nation. (This article doesn’t really offer much in the way of numbers to support it’s debate.  For actual supporting data, check out Descent of Detroit home values pull down rest of nation – also from HousingWire. Lot’s of debate going on about whether or not the ad had a political slant-penny for your thoughts? ~Anthony)

Freddie Mac to Increase Short Sale Incentives
HousingWire | February 6, 2012
Freddie Mac will soon increase incentives paid for completed short sales, according to a spokesman for the government-sponsored enterprise.

Mobile Banking Is More Secure Than Online Banking
Bloomberg | February 6, 2012
Accessing your bank’s mobile website or using your bank’s mobile application to access your account is much more secure than conducting traditional online banking on your computer. Pro or con?

Number of ‘Improving’ Housing Markets Expands to Nearly 100
DSNews | February 6, 2012
The number of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 markets listed on the Improving Markets Index published monthly by First American and the National Association of Home Builders (NAHB).

Housing Scorecard Shows Improved Inventory Levels, Fragile Prices
HousingWire | February 6, 2012
Home prices and sales remained fragile in January even as housing inventory levels and foreclosure starts improved during the same month, the Obama administration said in its latest Housing Scorecard Report.

Housing Plan Helps nearly 1 Million Homeowners
Reuters | February 6, 2012
Nearly 1 million U.S. homeowners have won permanent reductions on mortgage payments since the Obama administration launched its foreclosure prevention program in 2009, the U.S. Treasury said on Monday, only a fraction of the total it aimed to reach.

Opposing View: Obama’s Housing Plan More of the Same: Spencer Bachus
USA Today | February 7, 2012
Just as President Obama’s economic policies have failed to help the economy, his mortgage plans have failed to help struggling homeowners. Whether it’s HAMP, HARP or other refinance programs that already exist, none has worked and all are expensive.

Mortgage servicers to begin using new HAMP standards in May
HousingWire | February 6, 2012
The Treasury Department said it expects mortgage servicers to begin evaluating borrowers under an expanded Home Affordable Modification Program in May. The latest program is being referred to as HAMP 2.5.

Nearly Half of Refinancing Q4 Borrowers Reduced Payments
The MReport | February 6, 2012
Nearly 85 percent of refinancing homeowners with first-lien loans maintained or reduced their current payments by paying in additional cash in the fourth quarter last year.

From the National Association of Realtors®:

Will the Real Estate Market Heat Up This Spring?
Spring will be here soon enough, and the season traditionally brings a pickup in buying and selling for the housing market. What will this spring hold?

Beat the Competition in Buying Foreclosures
Are your buyers’ bids continuing to fall short when trying to purchase a foreclosure? Low-cost REOs can attract multiple bids from investors and all-cash buyers. How can your buyer beat the competition? 

Anthony Carollo

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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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