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Real Estate News 8-7-2012


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

Housing Market Shows Improvement Across All Regions
The Hill | August 6, 2012
Dozens of the nation’s largest housing markets continue to show improvement, according to an index released on Monday.

Housing Recovery Could Lift Jobs, Spending
CNN Money | August
After years of depressed activity, home prices and new construction have started to pick up in recent months as foreclosures have slowed, suggesting the housing market may have finally bounced off the bottom.

Is This the End of the Housing Bust? Not So Fast, Says Shiller
The Wall Street Journal | August 6, 2012
Housing expert Robert Shiller isn’t convinced we’ve crossed into safe territory just yet. Here’s why.

23 Federal Laws that Apply to Real Estate Sales
Realtor Mag | August 2012
Residential real estate has become more complex over the years as a result of laws enacted to protect consumers’ welfare.

Hispanics Make Up Majority of New Owner Households
HousingWire | August 5, 2012
In spite of high unemployment, economic uncertainty and tighter credit conditions, homeownership among Hispanics continues to act as a stimulant to the country’s anemic household formation rate.

Chase Offers No Doc Refis, Principal Reduction
HousingWire | August 5, 2012
JPMorgan Chase went from fast-tracking foreclosures to rubber stamping and pre-approving some borrowers for refinances and even principal reduction.

Court of Appeals Upholds Dismissal in MERS Case
DSNews | August 5, 2012
MERSCORP Holdings, Inc., announced that a three-judge panel of the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a complaint against Mortgage Electronic Registration Systems, Inc., (MERS) and two other defendants.

Banks Ease Lending Terms to Meet Mortgage Demand
TheMReport | August 6, 2012
Commercial banks eased standards for residential mortgage loans to meet a sharp increase in demand in the second quarter, the Federal Reserve reported Monday in its quarterly survey of bank lending standards.

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Real Estate News Today 7-9-2012


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We had lots of comments regarding the “Eminent Domain” discussion last week.  Instead of reprinting them in an email, I’ve posted them in the ‘comments’ section at the bottom of the July 6, 2012 blog post.  You can read them here: https://avcarollospok.wordpress.com/2012/07/06/real-estate-news-today-7-6-2012/  Thanks to all who took the time to respond!

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

If Housing is Recovering, Where are the Construction Jobs?
The Washington Post | July 8, 2012
The housing market appears to be on the mend, as new home sales, construction spending, and new home construction have all improved in 2012.

Closer to a Bailout? FHA’s Mortgage Delinquencies Soar
CNN Money | July 9, 2012
The mortgage market appears to finally be stabilizing — as long as you ignore loans backed by the Federal Housing Administration.

Brace Yourself, Real Estate Prices Are Going Back Up
Bloomberg | July 8, 2012
House prices, after falling for more than five years, are rising again. All the major sales-price indexes show that there have been modest national increases in recent months, even after adjusting for seasonal patterns.  (So tell me, is it too early to call?  Are housing prices in your market going up?  Do the actual sales prices from your MLS support this article?  ~Anthony)

Number of the Week: Has Housing Bottomed?
The Wall Street Journal | July 6, 2012
The signs of a bottom in the housing market are piling up, and after Friday’s employment report we can add construction jobs to the pile.

First-time Homebuyers Struggle with Tough Market
The Denver Post | July 8, 2012
The stabilizing housing market is becoming a curse for first-time homebuyers.

More Red Flags on Reverse Mortgages
Reuters | July 6, 2012
Consumer advocates, government regulators and watchdogs have been warning seniors for several years about the risks associated with reverse mortgages. Now, the red flags are being hoisted significantly higher.

What To Expect From The Housing Market In The Remainder Of 2012
San Francisco Chronicle | July 7, 2012
The root of the global financial crisis and resulting recession could be summed up in one word: housing. Fueled by cheap credit, shady-style mortgages and over-inflated home prices, the resulting speculative bubble popped hard and sent home prices into a tailspin. Those falling prices ultimately exacerbated all the rest of the problems facing the economy, and there are several long-term consequences from the recession.

How Agents Are Investing in Their Business
RealtorMag | July 5, 2012
Real estate professionals are investing in a number of tools to expand their reach to customers. 
 

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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

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Real Estate News Today 6-26-2012


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

Retire Here, Not There: Washington
SmartMoney | June 25, 2012
Forget Seattle. Here are four less expensive places to settle down in the Evergreen State.  (Guess which communities made the short list? Spokane is one of them! ~Anthony)

Mortgage Refi Boost May Be Short-lived
HousingWire | June 25, 2012
The refinancing surge on government-backed mortgages may run out in August, bank analysts said Monday.

Avoid Fireworks at the Family Summer Home
The Wall Street Journal | June 25, 2012
A jointly owned property comes with a host of issues that need to be spelled out and formalized to avoid any family squabbling down the road.

New-home Sales Rise
The Washington Post | June 25, 2012
Americans bought new homes in May at the fastest pace in more than two years.

Senate Bill Would Drive Up Flood-Insurance Premiums
The Wall Street Journal | June 25, 2012
Vacation homes and commercial properties in flood-prone areas could see their flood-insurance premiums more than double over a four-year period under a bill poised to clear the Senate this week. (We may finally have resolution and certainty for an extended period on flood insurance.  It sounds like we’re close anyway. ~Anthony)

5 Projections of Where the Housing Market’s Headed
RealtorMag | June 25, 2012
Real estate markets across the country are inching their way to a slow recovery after bottoming out, according to several real estate economists who spoke at a forum hosted by the National Association of Real Estate Editors.

SEC stops $100 million real-estate based Ponzi scheme
HousingWire | June 25, 2012
The Securities and Exchange Commission filed a complaint against a man accused of running a $100 million real estate based Ponzi scheme in Utah.

 

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 5-7-2012


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

Buying a Home Won’t Get Much Cheaper
CNNMoney | May 6, 2012
Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market
.

Vacation-Home Markets Heat Up
The Wall Street Journal | May 6, 2012
If you’re thinking of buying a second home in the next five years, this might be your best opportunity.

Barclays Bullish on Housing
HousingWire | May 4, 2012
Analysts at Barclays Capital conclude that the housing market is no longer a drag on the economy.

Renting Prosperity
The Wall Street Journal | May 6, 2012
Americans are getting used to the idea of renting the good life, from cars to couture to homes. Daniel Gross explores our shift from a nation of owners to an economy permanently on the move-and how it will lead to the next boom.

Homes’ Landscaping Edges Onto Public Sand
The Los Angeles Times | May 6, 2012
California has ordered homeowners along some of Orange County’s most coveted coastline to rip out the landscaping and other upgrades that have crept steadily seaward.

What Buyers Often Overlook in Home Purchases
REALTORMag | May 4, 2012
While many buyers may be swayed by the home’s appearance, financing, and location when choosing a home, housing experts say they often overlook other important factors that may keep them happy for years to come with their home purchase. 

Ohio AG begins $75 million demolition program
HousingWire | May 4, 2012
Ohio Attorney General Mike DeWine will begin granting $75 million to local governments for the demolition of abandoned homes. The money comes from the $25 billion settlement with mortgage servicers approved in March.  (I’ve said this before and I’ll say it again, I don’t believe the way out for states like Ohio is to demolish vacant homes.  It seems to me they would be much better off selling them super cheap to first time home buyers or even creating a program for out of state buyers.  How about an incentive program to companies that want to relocate to Ohio?  The state could offer free housing for the first six months or 1 year, or simply free housing.  Move your company to the state of Ohio and we’ll give each of your employees a free home!  That’s not going to happen. The solution they’ve come up with is to use the settlement money to rip them down. ~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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Today’s Real Estate News 4-2-2012


I got more feedback from all of you on the article about paying the car loan before the home mortgage, thanks to everyone who responded!  Some of the feedback:

-“I agree with you.  Pay something. Communication is King”
-“I can’t imagine prioritizing a car loan over a mortgage. Of course, I drive a 10-year-old Subaru, so maybe I don’t prize my ride as much as some people.”
-“If you don’t pay your car payment for three months the repo man will haul it away, but if you don’t pay your mortgage payment it can take 3 to 5 years before you have to leave your home.”

If you missed it, here is the article Forget the Mortgage, Consumers Pay Car Loan First

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

Expectations Rising for Housing Market’s Spring Season
USA Today | April 1, 2012
The spring home-selling season could be the strongest in years and may foreshadow which markets will lead a battered housing industry in an anemic recovery, economists say.

What’s in a Surname?
National Geographic | March 30, 2012
America is a nation of Smiths, Johnsons, and Sullivans – but also of Garcias and Nguyens. Zoom in on the map below to see what surnames proliferate in your part of the country.

Regulatory Uncertainty Puts Ellie Mae in Sweet Spot
HousingWire | March 30, 2012
The growing economic and regulatory demands placed on lenders is changing the process of mortgage origination.

One World Trade Center Hits 100 Stories, Helped by Funny Math
The Wall Street Journal | March 30, 2012
The steel skeleton of One World Trade Center reached 100 stories this week.

Buy New or Tear Down?
The Wall Street Journal | March 30, 2012
Unhappy with choices in new-home developments, a reader considers buying an older home and tearing it down to build what she wants.

The Mobile Home Zillow Priced at $357,000
HousingWire | March 30, 2012
How much would you pay for a manufactured home in a mobile home park? $90,000? What if it was in a nice area in Sunnyvale, Calif.? Maybe $129,000? That happens to be the listing price. (Another look at how Zillow seems to have some trouble at times with data.  That said, I had an agent tell me once that at the very least Zillow does provide some visibility to the consumer of the housing market, and it creates interest in home-buying.  Do you have any Zoughts you’d like to Zhare regarding Zillow? (:-)  Let me know at acarollo@stewart.com )

Home Owners Planning Remodeling Projects This Year
Realtor Magazine | March 30, 2012
Home owners say they’ll spend about $3,500 this year sprucing up their house. So how do they plan on spending it?

Construction Lenders Step Up Competition in Flight to Safety
MultiFamily Executive | March 28, 2012
The construction debt market is heating up, though much of the activity is concentrated on a continued “flight to safety” by financiers. (Note: This article seems to focus primarily on development and commercial lending rather than single family construction loans. ~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 3-19-2012


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 3-16-2012


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

Small Businesses in Homebuilding Industry See Signs that People are Ready to Buy
The Washington Post | March 15, 2012
Charles Ruma is suddenly busy. His company, Virginia Homes, is getting five to 10 visits from prospective homebuyers each weekend. During the last three years, he was lucky to get five in a month.

State’s High Court Hears Suits Against Mortgage Clearinghouse
The Seattle Times | March 15, 2012
The state Supreme Court heard arguments Thursday in two cases that could determine whether the nation’s largest electronic mortgage-tracking system has legal authority to foreclose on delinquent homeowners in Washington.

Passing Out Business Cards is Quickly Becoming Passé
The Los Angeles Times | March 15, 2012
Chalk up another looming casualty of the Internet age: business cards.

Housing Market Showing Signs of Strengthening
The Hill | March 15, 2012
A growing number of housing markets, especially in metropolitan areas, are showing steady improvement as the sector continues its slow recovery.

Growth in the ‘Sand States’
BusinessWeek | March 15, 2012
Arizona, California, Florida, and Nevada are the states where homeowners enjoyed the most extreme runup in prices – until the subprime crisis sent the whole housing industry into its sharpest contraction in decades.

How To Be Creative
The Wall Street Journal | March 13, 2012
The image of the ‘creative type’ is a myth. Here’s a look at why anyone can innovate – and why a hot shower, a cold beer or a trip to your colleague’s desk might be the key to your next big idea.

Most Home Owners Unaware of Gov’t Aid Programs
Realtor Magazine | March 15, 2012
More than 70 percent of home owners are unaware that there are government programs to help underwater borrowers.

Agent Injured When Indiana Home Explodes
Realtor Magazine | March 15, 2012
A real estate agent in Gary, Ind., was preparing to show a vacant home to a family Tuesday afternoon when the home suddenly exploded.

Gov’t Programs on Housing, Lending Need Forethought 
Realtor Magazine | March 15, 2012
The CEO of Entitle Direct Group says government interventions in the housing and mortgage lending sectors need more planning and prudence to avoid digging the hole even deeper.

 

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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