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Real Estate Today 8-21-2012


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RE/MAX: Inventory Poses Biggest Threat to ‘Year of Recovery’
DSNews | August 20, 2012
Looks like the dragon will have to step aside: 2012 is now “The Year of the Housing Recovery,” according to RE/MAX.

HomeGain: Home Sellers More Successful With Real Estate Agent
HousingWire | August 20, 2012
Some homeowners may have a strong preference for selling their own properties, but a new poll by HomeGain suggests having a real estate agents improves a person’s odds of offloading their home.

Expectation for Prices to Rise Deters Would-Be Sellers: Survey
DSNews | August 20, 2012
After surveying more than 1,800 active home sellers, Redfin found that some of its customers are holding back from selling now because they believe patience will pay off in the form of higher offers for their home.

Going in Circles: The Merry-Go-Round Economy
The Wall Street Journal | August 21, 2012
Since the recession ended three years ago, the U.S. economy has felt at times like a roller coaster, ready one moment to fly off into full-blown recovery, then taking a sudden, gut-wrenching plunge back toward recession.

New Jersey looks to speed foreclosures on abandoned homes
HousingWire | August 20, 2012
A New Jersey state senate bill that would allow financial firms to expedite the foreclosure process on abandoned, vacant homes is advancing after making it out of committee. (This seems to me like it could be a great idea, as long as it’s uncontested and vacant. Your thoughts? ~Anthony)

Exclusive: New Bill Brings Better Housing Benefits for Veterans
DSNews.com | August 20, 2012
While the bill, passed by the House and unanimously by the Senate, has a primary focus to extend healthcare to those affected by Camp Lejeune’s drinking water, it also makes breakthrough changes that provide much needed reform to the VA Loan program, a program that has been in service since 1944.

Housing Update from Ashley Garner
The KCM Blog | August 21, 2012
The good news is the recovery of the Real Estate Market is unfolding exactly as it should and exactly as we have predicted.

The Spokane Association of Realtors Annual “Fill the Fridge” Food Drive is coming up (Sept. 6-7) to benefit Second Harvest.  Check out the SAR Food Drive Map showing the Albertsons locations and the store captains.  Volunteer now to fill a shift, or Second Harvest always accepts cash donations.

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Posted by on August 21, 2012 in Real Estate news

 

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Real Estate News Today 7-12-2012


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It’s a hot mess
The Washington Post | July 12, 2012
Investigative reporter Jeff Rossen and his team set up hidden cameras during a heat wave. They rented a house in New Jersey and had three certified A/C experts inspect they system. It was in excellent condition. Then an A/C expert set up a common, easy-to-fix problem: a simple broken wire that shuts the unit down. He said he would charge less than $200 to fix it. (Would any of my agent or contractor friends like to take a shot at this one?  To avoid getting scammed, what would you suggest different than what this reporter says? ~Anthony)

Housing Passes a Milestone
The Wall Street Journal | July 11, 2012
The housing market has turned—at last. The U.S. finally has moved beyond attention-grabbing predictions from housing “experts” that housing is bottoming. The numbers are now convincing.

Home Price Gains at Risk in Distressed Markets
Inman News | July 11, 2012
Asking prices for for-sale homes nationwide have risen in the last four out of five months, but the biggest market gainers also have foreclosure backlogs putting those increases at risk, according to a monthly report from real estate search and marketing site Trulia.

Chase Analysts Expect Home Prices to Rise 12% by 2016
HousingWire | July 11, 2012
JPMorgan Chase analysts expect national home prices to rebound 12% over the next four years.

How Much Money Do You Need To Invest In Real Estate?
San Francisco Chronicle | July 11, 2012
Thanks to the continued mess in the housing market, prices on all types of real estate are getting lower and lower. Those low prices have made it easier for average people to add these assets to their investments.

California Homeowner Bill of Rights Signed Into Law
DSNews | July 11, 2012
The Homeowner Bill of Rights so far consists of a series of related bills containing provisions that prohibit certain practices by lenders that have been attributed to the state’s foreclosure crisis.

Has Housing Hit Bottom on Your Street?
The Wall Street Journal | July 11, 2012
There’s a growing consensus that the U.S. housing market, as measured by broad national indicators such as home sales, home construction and prices, has hit bottom. It may not get much better soon, but it probably won’t get much worse, either.

So How Much Money Do You Need to Retire?
Ted C. Jones Blog | July 10, 2012
When completing my Master’s degree at Texas A&M, we had an outstanding professor whose favorite axiom was “When you make more money you are simply broke at a higher level.” There was a lot of truth in that statement, but unfortunately, most Americans will not get any raises when they retire as they have not saved enough. So how much do you need to save to retire at the same standard of living?

Regarding the short sale risks discussion we’ve had going on, another response came in yesterday that I hadn’t considered: ”
Other risks to Buyers is in waiting for the (short sale) approval process and if that approval never comes, buyers may miss out on taking advantage of the current climate (low low interest rates).  If while waiting, rates go up even ¼ % and lender never approves the (short) sale, any perceived savings in a short sale transaction will be completely gone with higher interest rates for buyers property they ultimately purchase.”

This is Anthony talking again.  Please understand I’m not saying short sales should be avoided. I’m simply suggesting buyer/seller/agent awareness of the risk potential.  There are still GREAT values out there in short sale situations.  Just think and plan ahead and overcommunicate. 

Anthony Carollo 2007 EMAIL  

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Stewart Title of Spokane
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Posted by on July 12, 2012 in Real Estate news

 

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