Tag Archives: San Bernardino County California

Real Estate Today 8-10-2012


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 | 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 7-6-2012

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I posted an article in my Today’s News on June 14 about a California mortgage company that was lobbying for municipalities to use of the powers of “Eminent Domain” to grab mortgage notes from investors.  The idea is that then the muni can “write down” the principal to make sure the homeowner stays in the property and/or it doens’t become blighted.  The idea has gained some traction in California among a couple of cities, but not everyone is in favor of the concept (see first article below).

Upside? The city or town could have more control over the property, more control over how it is maintained by forcing the owner’s hand, and even could foreclose on the property when they deem it desirable for other purposes if the owner is behind on payments.

Downside? The city or town could have more control over the property, more control over how it is maintained by forcing the owner’s hand, and even could foreclose on the property when they deem it desirable for other purposes if the owner is behind on payments. 

What if it were your house? Feedback is always welcome at

Cities in California Consider Using Eminent Domain To Seize Mortgages
New York Observer | July 5, 2012
Officials in San Bernardino County cities Ontario and Fontana, citing blighted neighborhoods and communities, propose using the state’s eminent domain power—most commonly used to seize land from homeowners and re-allot it for public use—to acquire underwater mortgages (loans that exceed current property value) and decrease the loan principle to match the current property value. (See also “Seizing mortgages via eminent domain profits few” from HousingWire. ~Anthony)

New Agency Plans to Make Over Mortgage Market
The New York Times | July 5, 2012
The Consumer Financial Protection Bureau, seeking to improve fairness and clarity for borrowers, is moving to establish its legitimacy and quiet its critics.

U.S. Hiring Seen Stuck in Low Gear in June
Reuters | July 5, 2012
U.S. employers likely quickened the pace of hiring last month but not enough to allay worries that Europe’s debt crisis is shifting the economy into low gear.

Some U.S. Metros ‘in the Clear’ of Housing Crisis
MSNBC | July 3, 2012
Nearly 30 cities have been designated “in the clear” of the housing downtown, according to a report today by Trulia, although real estate experts in some of those markets reacted to the apparently good news with conservative-sounding forecasts for their areas – or with downright skepticism.

To Play the Game To Win You Need to Know the Rules-
Why the Economic Recovery Continues to Stumble
Ted C Jones Blog | July 6, 2012
Last week I spoke in Las Vegas and thought of the myriad of games that people can play and hopefully win in the casinos.  Each game has a set of rules that the player needs to have full working knowledge of to optimize their potential outcome.  Without this full understanding of the rules, most people simply avoid those games.  

States use mortgage settlement funds to fill budget gaps
HousingWire | July 5, 2012
It’s a controversy that has been brewing in several states: Some state leaders are using funds from the $25 billion mortgage servicing settlement to fill gaps in their budgets, Bloomberg reported. (This seems similar to the tobacco settlement a few years back where very little of the money recieved by states actually went to helping folks that were impacted or harmed by the tobacco industry. Similarly, some states are using the mortgage settlement money to get them over a budget hump rather than helping homeowners stay in homes or helping those who were actually harmed. ~Anthony)  

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Stewart Title of Spokane
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Spokane, WA 99201
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