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Real Estate News Today 7-31-2012


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The Difference Between Excellent and Perfect
The KCM Blog | July 31, 2012
Why does a buyer or seller look for a real estate professional in today’s new market reality? There’s plenty of information readily available for them to look at and analyze as they’re going through the process.

MBA: Multifamily/commercial mortgage originations swell 25% in 2Q
HousingWire | July 31, 2012
Multifamily mortgage originations helped commercial/multifamily origination volumes grow 25% in the second quarter from the year-ago period, according to the Mortgage Bankers Association’s quarterly survey.

Subprime Auto ABS Grows As Lenders Chase Margins: Credit Markets
Bloomberg | July 30, 2012
Sales of bonds tied to payments on subprime car loans are accelerating at the fastest pace in five years as investors seek high yields amid speculation the Federal Reserve will keep interest rates at record lows until mid-2015.

U.S. Housing Recovery Tested as Economy Tempers Optimism
Bloomberg | July 30, 2012
While orders for new homes are rising at the fastest rate in two years and housing may be a net contributor to the economy’s expansion for the first time since 2005, slowing job growth, tight inventories and a backlog of foreclosures threaten to put the brakes on a comeback.

How Forgiveness Fits in Housing-Fix Toolkit
The Wall Street Journal | July 30, 2012
Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing bust: to forgive or not to forgive?

Some at Fed Are Urging Pre-Emptive Stimulus
The New York Times | July 30, 2012
On the eve of the Fed’s policy-making committee meeting, members who favor more stimulus argued that the likely path of the economy was enough reason for action.

Congressional Leaders Near Budget Deal to Keep Government Running
The Washington Post | July 30, 2012
Temporary spending agreement would keep it running for the first half of the next fiscal year.

Is Housing Recovery Real? Not Everyone Is Convinced
NPR | July 31, 2012
Housing, the sector that led us into the recession, now looks to be one of the brighter spots in the economy. Homebuilding is at its highest level in nearly four years. More homes are selling, and at higher prices.

Yesterday we had an article about a company that is customizing the term of their homes loan to fit the clients desires.  We had two responses that I wanted to share from loan officers:

From CL: I do this all the time….I give them an excel sheet that lets the customer design their own.  They can change the principal monthly amount and see how much sooner than can pay off their mortgage based on their own timeline and needs.  VERY effective and also shows them sometimes the cost is not worth the expense of a refi unless they want rate bragging rights!!

From DB: It is currently is available!!!
1.       Borrowers on home loans do not have prepayment penalties today on the vast majority of loans.
2.       Borrowers can make additional Principal payments any time therefore,  reducing the loan balance, therefore retiring the loan at any point in time they desire. 
You just made you designer loan.
3.       We currently offer, 10, 15 20, 25, 30 and 40 year loans, with no prepayment penalties, the ability to pay extra every month, every other month, once a year,  etc….
4.       We offer the borrowers various amortization schedules so they can set the payoff date—VERY few ever follow through, they drop back to the easiest payment so they can do whatever with the “extra” cash.

 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 7-16-2012


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Zuckerberg’s Loan Gives New Meaning to the 1%
Bloomberg | July 14, 2012
Billionaire Mark Zuckerberg is giving new meaning to the term “the one percent.” The Facebook Inc. founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property.

In the U.S. Housing Market, Recovery or Lost Decade?
Reuters | July 15, 2012
What some of Wall Street’s forecasts for a recovery may be underestimating are tectonic shifts in the U.S. economy that make the housing market a different place from a decade ago.

Here Comes the Catch in Home Equity Loans
The New York Times | July 14, 2012
The easy terms of many home equity lines of credit are about to end, as borrowers will have to start paying principal as well as interest.

Q&A: How the Credit Card Settlement Affects You
The Wall Street Journal | July 13, 2012
Merchants big and small settled litigation against Visa and MasterCard Friday. As a result, merchants will be able to tack on extra fees when shoppers pay with plastic.

Will Housing Rescue the U.S. Economy?
CBS News | July 15, 2012
There is now broad consensus that the housing market is bottoming, but it remains to be seen how strong the recovery will be and whether it can help boost the moribund economy from the spring-summer doldrums.

US Consumer Agency to Supervise Credit Reporting Companies
Reuters | July 16, 2012
The U.S. consumer watchdog agency said on Monday it will start closely supervising credit reporting companies in September, bringing the industry under strict federal supervision for the first time.

More Home Owners Gain Equity
RealtorMag | July 13, 2012
Rebounding home prices are lowering the number of home owners who are considered “underwater” on their mortgage, according to a new report by CoreLogic(We received some feedback from a reader last week in response to this increase in equity.  In summary he said:
“The fact that the tiny increase in values we’ve had so far pushes these 700,000 folks out from being underwater
 simply shows that there are no government programs needed to fix our housing crisis. 

All we need is for the economy to recover just a bit and that solves many of our problems.  We don’t need more principal write downs, more refinance programs, or eminent domain seizures of mortgages.  What we really need is certainty, which means the government leaving things alone long enough to allow the market to correct itself”.

He makes a good argument.  Thoughts or feedback? ~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 7-5-2012


Running a little behind this morning.  Many thanks to my friend Kevin Parker and Dutch Bros. for the kick in the pants today.  (:-)  Check out and Like their Facebook page! Facebook 

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

It Takes a Little Work to Take a Vacation
The New York Times | July 4, 2012
Of all the challenges small-business owners face, one of the toughest is taking a vacation. (As Realtors, you are in an industry that has the most difficult time taking a vacation.  What’s the secret, if there is one? ~Anthony)

The John Grisham of Real Estate?
RealtorMag | June 28, 2012
Noting the success of author/lawyer John Grisham in spotlighting his profession in fiction, C.M. Nevill thought it was about time real estate took the dramatic stage of the action-adventure novel. 

Multifamily housing bubble may be in the future
HousingWire | July 3, 2012
While single-family housing starts remain down, rental demand is driving new multifamily construction. But how long the demand will last is uncertain — an uneasy consideration for investors whose current investments may take years to hit the market.

Some Points about Points
The KCM Blog | July 5, 2012
One of the more frequent topics discussed between loan officers and borrowers center around discount points. So today, I decided to give you some information and some things to consider. (I really enjoy their blogs.  They consistenly provide value which is something we are constantly trying to do.  Today’s blog is no exception.  Lenders: is there anything you would add to this? Email me at acarollo@stewart.com ~Anthony)

Rents Increase as Vacancies Dry Up
The Wall Street Journal | July 4, 2012
Landlords boosted apartment rents to record levels in the second quarter as demand from tenants sitting out the home-buying market pushed vacancy rates to their lowest point in more than a decade, according to a report to be released Thursday.

Cybercriminals Sniff Out Vulnerability
The Wall Street Journal | July 4, 2012
With cybercriminals a greater threat to small businesses than ever before, more entrepreneurs are left asking themselves who is to blame for hacking attacks that drain their business accounts. 

Small Business Lending Recovers, Delinquencies Drop to Record Low
The Washington Post | July 5, 2012
The overall volume of loans to small companies rose 12 percentage points in May, marking the largest month-to-month increase in three years and nearly erasing four consecutive months of decline to start 2012, according to the latest data released by Thompson Reuters and PayNet. J.D. Harrison JUL 3 Lenders are warming up to small firms again, but is it enough to trigger investments and hasten

Struggling Homeowners Avert Foreclosure Via Mediation
Reuters | July 5, 2012
Verise Campbell was excited. She could finally help struggling homeowners negotiate deals with their lenders to avoid foreclosure, but the angry response to her first phone call shocked her.

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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Real Estate News Today 3-14-2012


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

15 of 19 Major U.S. Banks Pass Fed’s Stress Tests
The Washington Post | March 13, 2012
Federal Reserve says 15 of the 19 largest U.S. banks would remain healthy in a severe crisis, demonstrating the scope of the recovery of the nation’s financial system since it nearly collapsed in 2008.

And this next headline is for the “Glass-is-half-empty” crowd  J 

Four of 19 bank holding cos. Fail portion of stress tests
HousingWire | March 13, 2012

Four of 19 banks failed to meet at least one of the minimum capital ratios in the Federal Reserve‘s stress tests.

Bernanke says community banks strengthening
Yahoo! News | March 14, 2012

U.S. community banks are gaining strength even though the economy is improving only moderately, Federal Reserve Chairman Ben Bernanke said Wednesday.  (Bankers: Take a look at the very last line that quotes Mr. Bernanke regarding new regs. ~Anthony)

Mortgage Purchase Demand Rose Last Week: MBA
Reuters | March 14, 2012
Demand for home purchases picked up for the third week in a row last week, though applications for refinancing sagged, an industry group said on Wednesday.

New Rules Easing HARP Refinances
NASDAQ | March 13, 2012
There’s a big change coming in the HARP 2.0 program that will make it easier and faster for homeowners to refinance their underwater mortgages, and possibly save them several hundred dollars as well.

Nasdaq Finishes Above 3,000, Its Best Since Dot-Com Bubble
The New York Times | March 13, 2012
Stocks climbed to new heights in part on rosy retail sales data, pushing the broad market to levels last seen in June 2008 and the Nasdaq composite index past the 3,000 milestone for the first time since 2000.

Report: Investors Buying Foreclosures on West Coast
DSNews.com | March 13, 2012

For West coast states, the foreclosure wave is reported to be dying down as third parties, who are typically investors, snatch up foreclosed homes, according to the February 2012 ForeclosureRadar report, which only includes Arizona, California, Nevada, Oregon, and Washington.

Apartment Loans by Agencies Creating Bubble, Chandan Says
Bloomberg | March 14, 2012

Low-cost financing backed by the U.S. government is inflating the values of apartment buildings and threatening threatening to create a bubble, according to a report by Sam Chandan, a real estate economist.

Seniors, Young Adults Will Influence Housing
Realtor Magazine | March 13, 2012
Aging Baby Boomers and their “Echo Boomer” children will significantly impact trends in the nation’s housing market over the next 20 years, according to a new report released by the Bipartisan Policy Center.

A ‘Mega Force’ Emerging in Housing?
Realtor Magazine | March 13, 2012
This growing segment of home buyers continue to flood the market and are expected to “have an exponential impact on housing sales,” according to a new housing report.

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:   LinkedIn     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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