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Real Estate News Today 7-17-2012


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Is There a 3.8% House Seller Tax in the Health Care Bill?
The KCM Blog July 17, 2012
The political rhetoric surrounding the presidential election has renewed the debate about the Administration’s Health Care Bill. We are again getting many questions about a possible 3.8% tax on home sales that some claim is in the bill. To answer these questions, we have decided to re-run a blog we posted earlier this year. – The KCM Crew

Residential Home Prices, Rents and Inflation
Ted C. Jones Blog | July 17, 2012
Housing should not be viewed from a short-term perspective given transaction costs. Nor should home values be analyzed in a vacuum since you must live someplace. And since housing is truly a long-term asset, inflation comes into play.

Foreclosure review program befuddles borrowers
Reuters | July 16, 2012
So far, fewer than 5 percent of the potential beneficiaries – 214,000 – have requested a review of their cases, a number critics say confirms their suspicion that the process was designed to protect banks, not help consumers.

White House Skeptical of Plan to Seize Mortgages by Eminent Domain
The Wall Street Journal | July 16, 2012
The Obama administration has concerns with a proposal—backed by a one-time major fundraiser to President Barack Obama—that would use eminent domain to seize and restructure mortgages.

With Low Supply, Asking Prices Rise for Fifth Straight Month
The Wall Street Journal | July 17, 2012
Home sellers are staying on the sidelines this summer, which is helping to firm up prices in more U.S. housing markets.

Phoenix Sets Pace in National Real Estate Recovery
CBS MoneyWatch | July 16, 2012
The Phoenix metro housing market is seeing a rise in home prices and a decline in the number of houses on the market, putting the area ahead of most other U.S. cities on the road to recovery, according to real estate experts.

Fitch: Surging Housing Stats Good News for U.S. Homebuilders
Reuters | July 17, 2012
Builder and investor enthusiasm are both surging, though U.S. housing metrics have not entirely kept pace so far, according to Fitch Ratings in its latest ‘Chalk Line’ report.

Five Mortgage and Housing Trends in Summer 2012
Fox Business | July 16, 2012
After an encouraging spring homebuying season, it’s time to cross your fingers and hope the momentum carries through the summer. Home prices have stabilized in many cities, but certain areas could still see a decline in values — especially those in judicial foreclosure states.

Many More Homeowners Using Obama Refinance Plan: Regulator
CNBC | July 16, 2012
The number of underwater homeowners refinancing through an Obama administration anti-foreclosure program has picked up sharply since its expansion late last year, according to figures a housing regulator released on Monday.

A comment that came in yesterday which I found amusing:   “Why on earth does Billionaire Zuckerberg NEED a $6 million home mortgage?  Pay the thing off and save $60,000!  Is he just trying to improve his credit score?  He can do that with a Macy’s card.  Apparently, having money and knowing how to manage it are two separate concepts.”  (Comment based on an article in my blog yesterday about Mark Zuckerberg’s 1% home loan. ~Anthony)

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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 3-21-2012


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

The Wall Street Gold Rush in Foreclosed Homes
Reuters | March 20, 2012
A growing list of big and small investors are renting out foreclosed homes. But the heated competition for these homes is reminiscent of the frothy expectations that seem to accompany each new Wall Street investing craze.

Manufactured Housing Under Renovation
The Wall Street Journal | March 20, 2012
The industry – and Wall Street – is betting that consumer attitudes toward housing have been updated, that buyers are soured on the bigger-is-better mantra of the boom years and looking for affordable alternatives.

FHFA Blames State Laws for Excessive Foreclosure Timelines
DSNews | March 20, 2012
State and local governments across the nation responded to the foreclosure crisis by introducing a wave of new laws aimed at protecting homeowners.

Rising Mortgage Rates May Not Hurt Housing
CNBC | March 20, 2012
As the economy improves, the job market improves, and that is a key driver for housing. But on the flip side, as the economy improves, investors finally crawl out of the Treasury bunkers, driving yields higher, and mortgage rates generally follow the 10-year Treasury.

Builders Betting on Brighter US Housing Market
BusinessWeek | March 20, 2012
U.S. builders are betting that the housing market is finally on the path back to health. They requested 5 percent more permits in February to build single-family homes and apartments in the coming months.

Ex-Taylor Bean Finance Chief Admits $3 Billion Fraud Role
Bloomberg | March 20, 2012
Taylor, Bean & Whitaker Mortgage Corp.’s former finance chief admitted to helping his boss, Lee Farkas, commit what prosecutors say was one of the largest bank frauds in U.S. history.

Buying cheaper than renting in nearly 100 major U.S. markets: Trulia
HousingWire | March 21, 2012
Buying is more affordable than renting in 98 out of the nation’s 100 largest metropolitan areas — even in New York, Los Angeles and Boston, according to real estate company Trulia‘s rent vs. buy index.

Large Banks Cut Thier Bad Loans
The Wall Street Journal | March 21, 2012
Large U.S. banks have been making headway in dealing with their troubled commercial real-estate debt, selling off and reworking bad loans at a faster rate than smaller banks. 
 

 

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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Posted by on March 21, 2012 in Real Estate news

 

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