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Real Estate News 7-19-2012


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Washington to unveil voter registration on Facebook
KHQ | July 17, 2012
Facebook users in Washington state will have something else to brag about to their online friends: that they registered to vote on Facebook. (I doubt that this will increase voter fraud as it is not much different that the current online voter-registration that Washington has.  However, when a business advertises on Facebook, they can do incredibly targeted advertising,  Look for Facebook to begin allowing the option of targeting your ad campaign to “registered voters”.  Political advertising is very lucrative and if they are given the opportunity to gain a share of that market, they will make a run at it. ~Anthony)

Brett-led groups buy buildings on Havermale Block
Journal of Business | July 19, 2012
A pair of real estate investment groups headed by Spokane sports team owner Bobby Brett recently bought two three-story buildings, a one-story former garage structure, and 27,600 square feet of parking in the historic Havermale block downtown, says Chris Batten, a commercial real estate broker involved in the transactions.

U.S. Bank Passes on Overheated Commercial Property Markets
HousingWire | July 17, 2012
Top-ten mortgage originator U.S Bank is passing on commercial real estate opportunities in certain markets at risk of overheating because of new construction.

Bernanke Warns Against ‘Fiscal Cliff’
The Washington Post | July 18, 2012
Fed chairman reasserts his bleak assessment of economic growth.

Job Gains Need to Be Wind Under Housing’s Wings
The Wall Street Journal | July 18, 2012
Housing–long the intensive-care patient of the U.S. economic recovery–is finally showing life just as other sectors look winded. But the progress might be short-lived if the labor markets don’t pick up steam.

Is Housing Back From the Dead?
BusinessWeek | July 18, 2012
Could it be? A housing bottom? Have we finally worked through the worst aftershocks of the biggest asset bubble in recent memory? After a four-year slump, the U.S. housing sector finally appears to be recovering. For real this time.

When Foreclosure Affects Children
DSNews.com | July 17, 2012
Parents going through foreclosure may see it as a nightmare, a broken promise of the American Dream. Many might try to hide the stress and the effects of foreclosure from their children to keep them from worrying. However, researchers from the Children’s Hospital of Philadelphia (CHOP) are saying that children may actually suffer because of foreclosure more than anyone.
(If you know me well, you know that I love kids and I hate child abuse. That said, the researchers in this study have essentially pinned an increase on child abuse on the real estate industry by suggesting that foreclosures are tied directly to child abuse.  It seems to suggest that if foreclosures go up and child abuse goes up, then the one must be the cause of the other.  I believe that other socioeconomic factors are probably associated with child abuse, which in turn exacerbates the situation. One doesn’t necessarily lead to the other. Read the article yourself and tell me your thoughts. ~Anthony)

Is Instagram Real Estate’s Next Frontier?
RealtorMag | July 18, 2012
The Instagram app makes it easy for amateur photographers with smartphones to create works of art.  Some real estate firms are taking advantage of the app’s popularity and using it to accentuate their listings. 

 

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 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 5-18-2012


May 18, 1980, where were you?  I was at our school picnic in Comstock Park (Spokane) when we could see what looked like a nasty storm cloud coming and we were told to head home because Mt St. Helens had erupted that morning and they expected ash to start falling from the sky.  That event changed the way we look at many things from a geologic perspective.  Here’s a great article on Wikipedia.

Tell us your Mt. St Helens Story on our Facebook page, you’ll see the question and article link there.  Facebook

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

Fitch Predicts Housing Bottom in 2013
HousingWire | May 17, 2012
U.S. home prices could drop another 7.8% before reaching bottom next year, Fitch Ratings said in a report released Thursday.

Congress Extends Federal Flood Insurance Program for 30 More Days
The Times-Picayune | May 17, 2012
The federal flood insurance program got another 30-day extension from the House on Thursday, while some lawmakers continue to work for the long-term extension they say is needed to ensure its stability.

Principal Reductions Won’t Solve U.S. Mortgage Mess
Bloomberg | May 17, 2012
Edward DeMarco, the temporary director of the Federal Housing Finance Agency, continues to endure blistering criticism for refusing to allow Fannie Mae and Freddie Mac to pay for large-scale principal reductions for underwater borrowers (those who owe more than their homes are worth) or to facilitate refinancings for those stuck with high interest rate mortgages.

Private Properties
The Wall Street Journal | May 17, 2012
Celine Dion lists a private Canadian island for $29.3 million; Ryan Seacrest is in escrow to buy Ellen DeGeneres’s home for $37 million; a midtown Manhattan duplex lists for $12 million.

Luxury Homes Spur Bidding Wars in L.A. as Market Rebounds
Reuters | May 17, 2012
A week after Christine Lynch listed her house in the Brentwood neighborhood of Los Angeles for $3.625 million, she had seven offers. Within 10 days, a deal was reached for the five-bedroom, six-bathroom home — and for $225,000 more than she asked.

De Facto Property Management Creates Agent Risks
RealtorMag | May 17, 2012
When clients must move before their house is sold and they ask you to take care of their property in their absence, it’s tempting to say yes. After all, you want to remain on good terms with them and get the future sale. But saying yes to such a request comes with a slew of pitfalls. (Worth a read! ~Anthony)

Thousands of REALTORS(R) Rally to Support Home Ownership
RealtorMag | May 17, 2012
More than 13,000 REALTORS® attended the Rally to Protect the American Dream this morning in the shadow of the Washington Monument on the National Mall in Washington, D.C. (Were you there or did you watch it?  What did you think? ~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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Real Estate News Today 1-31-2012


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

You may have seen the article I included yesterday about Freddie Mac betting against homeowners.  The first article up to bat today is a counter viewpoint on the same subject from Forbes.

Freddie Mac Bets Against Refinancing?  Or Just Higher Rates?
Forbes | January 30, 2012
It’s an eyecatching, holy-vampire-squid headline: Freddie Mac Bets Against American Homeowners! And the story details how our national mortgage company has invested heavily in securities that would lose value if homeowners refinanced their mortgages. This time, instead of Goldman Sachs, it’s a federal agency thrusting its blood funnel into the pockets of American homeowners!

Home Prices to Fall 1% in 2012, Rebound in 2013: Fiserv Case-Shiller
HousingWire | January 30, 2012
The double-dip in home prices that began two years ago continued through the third quarter of 2011, according to the Fiserv Case-Shiller Indexes released Monday. However, there are signs of a recovery for 2013.

Housing Will Soon Help the Economy, but Not by Much: Report
DSNews | January 30, 2012
The analysts at Capital Economics are holding fast to their forecast that the downturn in the housing market is drawing to a close.

Washington State Considers Borrower Short Sale Protections
HousingWire | January 30, 2012
Banks could soon be barred from pursuing deficiency judgments against Washington state borrowers after a short sale. (Good for the market, or bad for the market?  What about the effect on the bank vs the consumer?  One observation from the article states that “the bill if passed, does not require the lender to accept a short sale offer.”  It seems like this would cause the lender to be LESS motivated to cooperate. ~Anthony)

Tower Rises, And So Does Its Price Tag
The Wall Street Journal | January 30, 2012
The price tag for One World Trade Center, the signature skyscraper under construction at Ground Zero in New York, has risen to more than $3.8 billion, making it by far the world’s most expensive new office tower, according to people familiar with the matter.

Homeowner Satisfaction Rate at 72%, Highest for Short Sale Purchasers
DSNews | January 30, 2012
Seventy-two percent of homeowners say they are satisfied with homeownership, according to a recent survey of more than 1,400 homeowners conducted by HomeGain.

Obama’s Housing Plan Draws Fire, Impact Seen Small
Reuters | January 30, 2012
President Barack Obama’s latest plan to help homeowners struggling to pay their mortgages drew fire on Monday as an election year ploy, and even supporters said it was likely to help only at the margins.

Foreclosures Draw Private Equity as U.S. Sells Homes: Mortgages
BusinessWeek | January 31, 2012
Private equity firms are jumping into distressed housing as the U.S. government plans to market 200,000 foreclosed homes as rentals to speed up the economic recovery.

New Home Sales in 2012 Reach All-Time Low Since 1963
Stewart Blog – Ted C. Jones | January 31, 2012
The number of new home sales in the U.S. hit an all time low since data collection commenced in 1963.   This now tallies to six consecutive years of declines in new home sales. 

It may be a good time to buy, but not to sell
MarketWatch | January 30, 2012
Many Americans say now is a good time to buy a home, thanks to record-low mortgage interest rates and bargain home prices that are boosting affordability. But is it a good time to sell a house? That’s a different story.

Anthony Carollo

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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