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Real Estate Today 9-20-2012


10 best states for first-time homebuyer help
MSN Real Estate | September 2012
Achieving the American dream has long been associated with owning a home. Yet for many of today’s would-be homebuyers, economic uncertainty has called that dream into question.  (OK experts, here is your chance to shine!  What great programs do we have available to first-time homebuyers in the Northwest? ~Anthony)

Some Markets See Inventories Cut Nearly in Half
RealtorMag | September 19, 2012
The number of homes for sale in the last year is falling the most in California, with eight of the top 10 biggest drops in inventories in the last year from metro areas in the Golden State. Many California metros are also seeing asking prices on the rise in the last year, too. (One NW area metro makes the list – which one is it?)

U.S. Banks on High Alert for Cyberattacks
Columbus Dispatch | September 19, 2012
A financial-services industry group warned banks yesterday to be on heightened alert for cyberattacks after Bank of America Corp. and JPMorgan Chase & Co. experienced unexplained outages on their public websites.

U.S. May Have Paid $1B in False Claims
The Washington Post | September 19, 2012
Report finds HUD may have paid hundreds of millions of dollars in mortgage aid to homeowners who did not qualify for the help.

Housing Recovery Nuanced at the Local Level
The Wall Street Journal | September 19, 2012
Today’s existing-home sales numbers from the National Association of Realtors, paired with today’s Census data on housing starts and a boost in builder confidence from earlier this week, paint a picture of housing on the mend.

Meet the New Boss: Big Data
The Wall Street Journal | September 20, 2012
At more and more companies, the hiring boss is an algorithm, as jobs that were once filled on the basis of work history and interviews are left to personality tests and data analysis.

Incomes Fell or Stagnated Last Year
The Wall Street Journal | September 19, 2012
The income of the typical U.S. family fell or was flat in almost every state last year, with the drop particularly steep in places where the economy has been hit hard by the housing bust.

Real Estate Investors Plan to Purchase More Homes in U.S.
BusinessWeek | September 20, 2012
Almost two-thirds of U.S. residential real estate investors plan to buy as many as or more homes in the next 12 months than they have in the past year even as prices rise, according to a survey released today.  

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Today I’d like to hear from real estate investors (or their agents):  What sectors provide the best opportunities?  What advice do you have for a prospective first-time investor?  What your personal market outlook for investment real estate?  (Both residential real estate and commercial real estate) 

  

 
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Posted by on September 20, 2012 in Real Estate news

 

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Real Estate News Today 6-15-2012


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A Happy Father’s Day to all of you amazing Dads out there!  Keep investing time and energy into your kids and grandkids.

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

Sheila Bair tackles the European debt crisis, Jamie Dimon and regulators – Fast Forward
Reuters | June 14, 2012
Sheila Bair, the former FDIC chairwoman who heads the newly formed Systemic Risk Council, explores whether U.S. banks can handle the European banking crisis and whether the attention on JPMorgan‘s trading loss is distracting regulators from a looming crisis. (This is a video worth watching, though I must admit to being distracted by the employee that keeps checking her cell phone for text messages in the background.  ~Anthony)

Market Hinges on Sustained Increase in Employment: Harvard Study
DS News | June 14, 2012
Sales are down, then they’re up. Home prices are up, then they’ve fallen. Clearly, it has been an unstable journey for the housing market, with hopeful reports dashed by disappointing data a month later.

Foreclosure Spike Is Positive Sign For Housing
CNBC | June 14, 2012
Foreclosure starts, the first phase of the process, rose 9 percent in May month-to-month, the first increase in over two years, according to a new report from RealtyTrac. Bad news, right? Only if you are the one losing your home.

Housing Market Shows Hints of Recovery, but Economic Troubles Remain
The Washington Post | June 14, 2012
A growing body of data in recent months has suggested that better days are on the horizon for the nation’s battered housing market, though it remains clear that a turnaround won’t come quickly.

Foreign Buyers Rush to Prop Up U.S. Housing Market: NAR
The MReport.com | June 14, 2012
The combination of low housing prices and the comparative weakness of the dollar continues to push foreign buyers to the United States, raising international home sales to $82.4 billion up from $66.4 billion last year, according to the National Association of Realtors (NAR) 2012 Profile of International Home Buying Activity.

Multifamily Attracting Foreign Investors
RealtorMag | June 14, 2012
Though it’s a good time to buy a house considering the rock-bottom prices and interest rates, strict lending guidelines are driving more would-be home owners to go the rental route. Enter overseas investors, who are well aware of the rising need for rental units and the low number of vacancies nationwide. These properties are drawing attention from investors across the globe, industry insiders say.

Meet Agent X: The man who rappelled down a cliff to sell a house
HousingWire | June 15, 2012
The Agent X awards ceremony at REO Expo provided a $100,000 marketing package from HousingWire. And, believe me, our winner’s unique story truly deserved it.

Regarding my “inventory/activity” question from yesterday, I got this response: “The market activity has picked up which means sellers are asking a little more for their homes  and maybe even getting offers that reflect higher prices—-BUT the appraisers are using comparables of 3-6 months ago when the prices were still distressed and deals are falling apart all over the place because sellers feel they can wait to sell and get their price.” 

Agree or disagree?  Let me know. ~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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Real Estate News Today 5-23-2012


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

What Homeowners Have to Disclose to Sellers
Fox Business | May 23, 2012
When it comes to certain issues or events in a home, not everything can be swept under the rug.  (If you are looking for an exhaustive list, this is not it.  However, this does a fair job of showing consumers that for the most part, no matter what state they are in, the sellers need to disclose certain property conditions. Interestingly, there are three states where NO disclosure is required by law. ~Anthony)

Large Investors Swim on Their Own
The Wall Street Journal | May 22, 2012
Put off by high fees and disappointing performance of so-called pooled funds, major institutions are building in-house real-estate investment divisions to acquire property directly.

Senators Seek to Remove Bankers From 12 Regional Fed Boards
Bloomberg | May 22, 2012
U.S. Senators Bernie Sanders, Barbara Boxer and Mark Begich introduced legislation today that would remove banking industry executives from the 12 regional Fed banks’ boards of directors.

CBO Report Says ‘Taxmageddon’ Would Throw U.S. Back Into Recession
The Washington Post | May 22, 2012
With tax hikes and spending cuts set to take effect in Jan., economy is likely to contract in first half of 2013.

Refinancing Now: Lower Rates, Fees Coming Soon
CNBC | May 23, 2012
The government is about to make refinancing FHA mortgages more affordable — and potentially easier — for hundreds of thousands of homeowners.

Facebook’s Overnight Millionaires Begin Lavish Spending Spree
Fox Business | May 18, 2012
Facebook’s $104 billion initial public offering on Friday transformed thousands of young people into instant millionaires – as well as a few billionaires – and already the booming luxury market in Silicon Valley is experiencing an upswing.

April Existing Home Sales Up 10 Percent Year-Over-Year – Median Home Price Up 10.1 Percent Year-Over-Year – Yee Haw!
Ted C. Jones Blog | May 23, 2012
As I had written earlier this year, the U.S. housing market is finally turning the corner—and that is amplified in the release of April existing housing sales and prices from the National Association of Realtors®.

Real Estate Executive Attacked With Samurai Sword
RealtorMag | May 22, 2012
The president of a Japanese real estate company was brutally attacked late last week when a man entered his office wielding a samurai sword.

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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 5-22-2012


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

Prices for Existing Homes See Strongest Gains in Six Years
The MReport.com | May 22, 2012
Existing-home sales rose to 4.62 million at a seasonally adjusted annual rate in April from a downwardly revised March rate of 4.47 million, the National Association of Realtors (NAR) said Tuesday. Economists had forecast the April sales pace would be 4.66 million. (Breaking news this morning!)

Housing Starts: The Problem with the Government’s Numbers
The Washington Post | May 22, 2012
The government’s monthly report on housing starts, a widely watched indicator of the nation’s economic health, turns out to have some problems. (What an enlightening article!  I was genuinely surprised by this one. ~Anthony)

HUD Multifamily Handbook to Get Update After 20 Years
HousingWire | May 21, 2012
A crucial handbook that provides general guidance for tasks associated with the Department of Housing and Urban Development involvement in multifamily projects will be revised by October.

Why This May Be the Ideal Time to Buy Real Estate
TIME | May 21, 2012
Well, it’s only taken half a decade, but the moribund real estate market is finally starting to show signs of life. If you were thinking about making a move on a piece of property, right now is possibly the best time.

A New Home For Computer Screens: The Face
The Wall Street Journal | May 21, 2012
The rise of Internet-connected smartphones and advances in display-projection technology are accelerating the development of devices that overlay digital images atop a person’s view of the physical world.

BofA Chief Says Dimon Will Do What’s Needed To Cap Losses
Bloomberg | May 21, 2012
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has the experience needed to manage the fallout from trading losses, and market disruptions haven’t been serious, Bank of America Corp. CEO Brian T. Moynihan said today.

Today we have two different views on home price bidding wars.  What has been your experience?  I’d love to hear it at acarollo@stewart.com

House price bidding wars are not making a comeback
HousingWire | May 21, 2012
If you’ve been following real estate news, there are many headlines claiming the price bidding wars are back and buyers are shocked to find themselves competing with other bidders to acquire distressed real estate at reasonable prices. Well, consider this blog post a dose of reality.

Prices Fall in April, 2-3 Bids Per Property: HousingPulse Survey
DSNews.com | May 21, 2012
If the buzz about bidding wars is true, Campbell/Inside Mortgage Finance HousingPulse Tracking Survey reported those accounts did not boost prices in its findings.

 

 

Anthony Carollo 2007 EMAIL  

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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 5-15-2012


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

Shadow Inventory: 46 Months to Clear Distressed Housing Supply
DSNews | May 14, 2012
It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data.

Lawmakers Move to Expand Mortgage Protection for Military
HousingWire | May 14, 2012
Reps. Elijah Cummings, D-Md., and Bob Filner, D-Calif., plan to submit an amendment to a defense spending bill being considered by the House this week.

Steps Unclear in Builders’ Race to Top
The Wall Street Journal | May 14, 2012
Record-keepers for skyscrapers are struggling to keep up as builders around the world create ever taller towers, stretching everything from the limits of architecture itself to the definition of a spire.

Dimon’s Place on Fed Board Renews Conflict-of-interest Concerns
The Seattle Times | May 14, 2012
The JPMorgan CEO, who disclosed a $2 billion trading loss by his bank last week, is one of three bankers on the board of the Federal Reserve Bank of New York, which oversees institutions such as his.

Newport Beach Mansion, Once Listed for $57 Million, Sells at Auction
The Wall Street Journal | May 14, 2012
An unfinished, 16,600-square-foot mansion in Southern California once listed for $57 million has sold at auction for just $18.5 million, according to the property owners’ lawyer.

NAR Reports Members’ Income Rose for First Time Since 2002
DSNews.com | May 14, 2012
For the first time since 2002, the National Association of Realtors (NAR) reported that income for its members (REALTORS®) increased in 2011.

Consumer knowledge of credit leaves a lot to be desired
HousingWire | May 14, 2012
Americans know more about credit than they did last year, but they’ve still got a lot to learn. The results of a survey released by the Consumer Federation of America revealed a jump in consumer knowledge about which companies collect credit information and how to check it, but a continued lack of knowledge about how costly low scores can be.  (This article almost gets to the point: Where can Joe Consumer get a better education about their credit score and how credit works?  Find a knowledgable and experienced loan officer who can answer your questions and educate you.  It’s well worth the effort and can save you thousands of dollars if you manage your credit well. ~Anthony)

Make Sure Selling Incentives Don’t Break the Rules
RealtorMag | May 14, 2012
Some housing deals are coming with sweet incentives for the real estate agents who can bring in a buyer, everything from big bonuses to fancy cars. But if you’re not careful, you might get in trouble for steering, some real estate professionals warn. 

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 5-4-2012


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

That New Foreclosure Tsunami? Still Waiting
The Wall Street Journal | May 3, 2012
For at least the last six months or so, a lot of people were talking about a “new wave” of foreclosures threatening to smother the U.S. housing market in gloom once again.

Is this Market ‘Bottom’ a True One that Will Stick?
DSNews | May 3, 2012
During a CoreLogic economic webinar Thursday, the company’s chief economist, Mark Fleming, Ph. D., was asked if the housing market has hit bottom and will it stick, as reports seem to be speculating. (This is very well written and agrees with something I’ve been telling folks for a while now.  Is the market recovering?  Yes.  Will it continue?  Probably, but that’s barring any new unforseen disasters.  Consider what we’ve seen just since 9/11 that have all had economic impact: An incredible oil spill, tsunamis in Japan and the Indian Ocean, the subsequent Japanese nuclear disaster, Hurricane Katrina, economic fragility in Europe, this list goes on.  None of us knows the future. ~Anthony)

Commercial Real Estate Hindered by Tight Credit, Realtors Say
Bloomberg | May 3, 2012
A “major portion” of small commercial-property deals in the U.S. have fallen through because of stricter lending standards, according to a National Association of Realtors survey.

When to Refinance Again
The New York Times | May 3, 2012
Those who refinanced their mortgages a year or so ago, when interest rates averaged just below 5 percent for a 30-year fixed-rate loan, may be wondering whether it’s time to refinance yet again, now that rates are at least a full percentage point lower.

The Danger of Social Profiling
The Washington Post | May 3, 2012
Should employers and stores be allowed to discriminate based on your social graph?

Wells Fargo’s Mortgage Dominance Worries Regulators and Investors
Los Angeles Times | May 3, 2012
Wells Fargo & Co. has become so dominant in the mortgage business that major investors and federal regulators are worried that a financial hiccup at the giant bank could roil the already beleaguered real estate market.

5 New ‘Rules’ to Home Buying
RealtorMag | May 3, 2012
With signs of a housing turnaround getting stronger, housing experts say buyers are finding several recent changes when they go to put in an offer on a home. A recent article at U.S. News & World Report highlights some of these changing “rules” for your home buyer clients.  (Realistically these are not new rules, they are old rules.  They are great reminders however. ~Anthony)

Make Sure Your House is Appealing from the Curb
FOXBusiness | May 4, 2012
Whether you’re prepping your home for sale, or just want it to look good, don’t forget about the exterior — especially the front yard and door!  Here are some great tips from home stagers and curb appeal experts on how to best showcase your home’s first impression.  (This is an excellent resource if you are listing your home.  In today’s market it has to outshine the others, they are your competition! ~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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Real Estate News Today 3-30-2012


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

Investors, Vacation Dwellers Stimulate Home Buying Activity
HousingWire | March 29, 2012
The combined share of investment and vacation home sales last year reached its highest level since 2005, according to the National Association of Realtors. (These are the same folks that are buying in ever-greater numbers with cash. ~Anthony)

Forget the Mortgage, Consumers Pay Car Loan First
MarketWatch | March 29, 2012
According to the latest analysis of open loans by TransUnion, the credit-ratings agency, nearly 40% of some 4 million consumers tracked last year fell behind on their mortgage payments, while keeping both their auto loans and credit-card balances in check. (I understand the dilemma- do you pay the loan on the place you live, or do you pay the loan on your ride to/from work?  My vote?  Pay the loan on the house first, sell the ride and take public transportation.  As a side note, if you can’t make ends meet and you’re going to pay something short, CALL YOUR CREDITORS!  Let them know what is going on and try to work something out.  Pay them SOMETHING, even if it’s small, to show them you are trying. Am I wrong?  Let em know at acarollo@stewart.com ~Anthony)

Cordray: Adding Leeway to LO Comp Rule ‘Sounds Sensible’
HousingWire | March 29, 2012
Consumer Financial Protection Bureau officials will consider allowing mortgage loan officers to lower their compensation in order to close a home purchase.


House Approves $3.5 Trillion Budget Plan Proposed by Paul Ryan
The Washington Post | March 29, 2012
Plan faces all but certain rejection in the Senate but will frame the parties’ election-year debate.

If You’re Happy and You Know It … Let the Government Know
The Washington Post | March 29, 2012
Americans’ right to the “pursuit of happiness” is older than the United State itself – it’s in the Declaration of Independence – but the emotion has never been measured. Amid a wave of research on the subject, the federal government is seeking ways to quantify it.

Avoiding the Equity Crowd-Funding
The Wall Street Journal | March 29, 2012
Under a bill expected soon to be passed into law, start-ups can raise up to $1 million a year by pitching to thousands of small-dollar investors online with little disclosure. Some companies are thrilled. But others, including some so-called angel investors, aren’t.

U.S. Consumer Cop Says not Bullying Banks
Reuters | March 29, 2012
The head of the new U.S. financial protection agency is fending off criticism that the presence of enforcement staff during routine inspection visits to banks is an intimidation technique.

10 Biggest Buyers of 2011
MultiFamily Executive | March 29, 2012
It’s hard to ignore the gap that exists between the No. 1 multifamily buyer and the rest of the 2011 top buyers list.

Mentorship is one thing that is sorely lacking in the real estate and real estate services industry. Our industry seems to reward those folks that help themselves more than others, yet for our kids’ future we should be mentoring the “up-and-coming”.  My challenge to you? Find someone to mentor today.  If your my age (44) and struggling with social media, mentor that 22 year old kid in the cubicle next to you and I’ll bet he/she can teach you a thing or two about Facebook or e-marketing.  There are PLENTY of “experienced” real estate folks out there that have a lot to teach a younger worker.  If you are one of the younger workers, find a mentor for yourself and also take the time to mentor a kid.

I am who am I am in large part because of two or three individuals who took the time to mentor me in different stages of my career, and for those guys am forever grateful.  (One of them is my dad, thanks Pop!)

Management Tip of the Day: Find mentors who help you learn
Reuters | March 29, 2012
Choosing the right type of mentor is important as a way to speed up your learning and help compete for jobs that were previously held by those with decades of experience, says Harvard Business Review.

 

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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