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Real Estate News Today 4-30-2012


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

Fannie, Freddie Leader’s Mortgage-cutting Dilemma
San Francisco Chronicle | April 29, 2012
Ed DeMarco, the man who oversees Fannie Mae and Freddie Mac, is still mulling whether to allow permanent principal reductions on mortgages owned or guaranteed by the taxpayer-supported entities.

Shielding the Family Business
The Wall Street Journal | April 27, 2012
The Tax Court has just blessed a technique that owners of closely held businesses can use to pass assets to heirs with a minimum of taxes and complications.

Short Sellers Seeking to Avoid Foreclosure will Get Faster Replies from Banks
The Washington Post | April 29, 2012
For the estimated 11 million homeowners burdened with an underwater mortgage, a federal policy change could be good news. Starting in June, if you decide to do a short sale to shed your mortgage debt load and avoid foreclosure, you may not have to wait for months to hear back from your bank after submitting an offer from a potential purchaser.

Surge in Investor Purchases Gave Home Prices Boost in February
DSNews | April 27, 2012
While Radar Logic reported home prices in February showed a month-over-month increase, the real estate data provider sees this trend as possibly being temporary, considering that warm weather and investment buying helped to drive up sales.

Stripe Your Lawn Like the Major Leagues.
The Wall Street Journal | April 30, 2012
Today’s ballpark grass patterns have become as intricate as the game itself. From simple stripes to checkerboard, plaid and diamond patterns, for creative groundskeepers fields are a canvas on display for millions watching in the stands and on TV.

How Car-Centric is Your City? Public Transit Ranked
USA Today | April 26, 2012
How easy would it be to leave your car behind or not even have one? A new ranking of U.S. cities, based on their public transit systems, offers a clue and perhaps some surprises.

3 Housing Trends Emerging This Spring
RealtorMag | April 27, 2012
What can home buyers expect to face this selling season? An improving housing market has made it a different picture in many areas compared to recent years, housing experts say. A recent article at Bankrate.com notes some…trends taking shape in the housing market this spring. 

NFL Stars Join in Initiative to Revive Blighted Neighborhoods
DSNews.com | April 27, 2012
The United Athletes Foundation (UAF) is working with two nonprofits to create an initiative that utilizes the influence of star athletes to help revitalize blighted communities.

Did you happen to do any open houses this weekend?  I’d love to hear how things went: how was traffic, what was the attitude/outlook of your visitors, how was traffic at new construction vs. resale?  Talk to me at acarollo@stewart.com or on my blog.

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 4-20-2012


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

Voters in Spokane County appear to have passed Measure 1 to expand the Convention Center and the Spokane Arena seating.  Check out the Measure 1 website to see what the Convention Center will look like when done.

Multifamily Building to Beef Up 30% in 2012
HousingWire | April 19, 2012
Fannie expects multifamily housing starts to jump 30% from 178,000 in 2011 to 231,000 in 2012. And then to 278,000 the following year.

Mortgage-Tax Break Curbed by Housing Slump
Bloomberg | April 19, 2012
The cost of one of the country’s most expensive individual tax breaks is shrinking as the number of Americans who own homes declines and mortgage rates hover near historic lows.

Bank of America Leads Banks in Short Sales of U.S. Homes
Bloomberg | April 19, 2012
The Charlotte, North Carolina-based bank approved 5,276 short sales in January, topping JPMorgan Chase & Co., with 2,976, and Wells Fargo & Co., the biggest home-loan originator, with 2,788, according to a report today by RealtyTrac Inc. (I’m not harping on BofA since they in fact did the most, but these numbers they give us for short sales still seem incredibly low.  I would have thought the number of short sales approved in a month would be 10x as high. ~Anthony)

Fears Rise That Economic Recovery May Falter in Spring
The New York Times | April 19, 2012
Global finance leaders are meeting in Washington to discuss oil prices, unemployment and other issues putting a cloud over the global economic picture.

Cities With Least Realistic Home Prices
The Wall Street Journal | April 19, 2012
Home sales are down, Thursday’s data shows. Oddly, sellers seem to be raising their asking prices. (This is interesting in that they determined the most realistic asking prices based soley on the gap between the median list prices and the median sales prices for the market.  Is that the right measure? I suppose it’s as good as any? ~Anthony) 

Chicago Loosens Vacant Property Restrictions on Banks
HousingWire | April 19, 2012
City officials in Chicago, with an ear to mortgage lenders and servicers, decided that maybe its pre-foreclosure requirements for vacant buildings were a bit too strict.

New Figures Stoke the Home Inequity Debate
The New York Times | April 19, 2012
A little more light is being shed on a type of loan that has been stinking up bank balance sheets.

Big Banks: Now Even Too Bigger to Fail
BusinessWeek | April 19, 2012
Two years after President Barack Obama vowed to eliminate the danger of financial institutions that are too big to fail, the nation’s largest banks are bigger than they were before the financial meltdown.

Short Sales Start to Outpace Foreclosures
Realtor Magazine | April 19, 2012
Banks are agreeing to more short sales, and for the first time,  short sale transactions are exceeding foreclosure deals, according to the most recent housing data from Lender Processing Services (LPS) Inc. (Check out this quote from the article:  “Banks are realizing that short sale transactions usually sell for higher prices than foreclosures.”  No kidding?  Who knew? ~Anthony)

Anthony Carollo 2007 EMAIL  

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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