Homeownership at 66.9% in 3Q, lowest rate since
by JASON PHILYAW (November 3, 2010)
Homeownership remains at the lowest level in more than a
decade as increased foreclosures and weak demand despite historically low
interest rates continue to weigh on the housing industry. Spokane real
The Census Bureau said the homeownership rate for the
third quarter was 66.9%, which is flat with the prior quarter and 0.7% lower
than a year earlier.
The rate of U.S. households that own
their home peaked at about 69.2% in the fourth quarter of 2004, on the upside of
bubble. Prior to the second quarter of this year, the rate had not dipped below
67% since 1999. (More...)
New-home Sales Climb
6.6 Percent in September
By Steve Goldstein -
RISMEDIA, October 28, 2010--(MCT)
Sales of new homes climbed 6.6 percent in September,
figures released by the federal government on Wednesday showed, representing the
second straight month of gains, but still well below the pace when a tax credit
Sales of new single-family homes rose 6.6 percent to a
seasonally adjusted annualized rate of 307,000, which is stronger than the
300,000 that economists expected in a MarketWatch-compiled poll.
On Monday, a report showed sales of existing homes also
were stronger than expected, rising 10 percent, and the two reports lend support
to some economists who believe housing demand hit a bottom in late summer. (More...)
Avista to Present 2010 Energy Fair
It’s winter in the Inland Northwest and
that usually means cold, snow and high utility bills. This year there’s little
snow, but it is cold, and utility bills are inching upward. What better time to
reach out for information about bill assistance and energy efficiency? All this
and more will be available at Avista’s 2010 Energy Fair, scheduled for Saturday,
Jan. 30, from 10 a.m. until 3 p.m. at Spokane Community College (SCC) Lair
Student Center (Building 6), 1810 North Greene Street. (See map here.)
Free admission to the event includes
access to all demonstrations, free samples, complimentary food and beverages,
and door prizes. (More
Local foreclosure rates increase
Posted by Bert - Spokesman Review
Oct. 14, 2010
RealtyTrac said 727 Spokane properties received a notice of trustee sale, or
were taken over by lenders in the quarter. For September, the number was
The Spokane third-quarter filings represented a 76 percent increase compared
with the second quarter, and a near tripling of activity a year earlier.
September was less active than August, but more than double September 2009. (More...)
Mortgages Cheap, But Hard to Get
By Alan J. Heavens
RISMEDIA, October 14,
With fixed mortgage-interest rates at an all-time low, it might seem as if
real estate offices should have house hunters lining up, ready to sign on the
dotted line. Last week, Freddie Mac announced that the average 30-year rate had
fallen to 4.27 percent.
At that rate, a $200,000 mortgage — not including hazard insurance and taxes
— would cost $986.22 a month. Add to that the decline in home prices, and it
seems like a combination that's hard to resist. (More...)
Washington State Attorney General Press
October 13, 2010
Washington Attorney General Rob McKenna announced that a
multistate group of banking regulators and Attorney Generals has formed to
investigate whether mortgage servicers have improperly submitted affidavits or
other documents related to foreclosures in their states. Read
the news release from the Attorney General.
They also announced today there are additional efforts to
address foreclosure-related problems in Washington state Read this announcement.
Read the news
release from the Attorney General.
Attorney General McKenna announced that he has sent
letters today to 52 trustees outlining his concerns, asking them to pause
and review their processes and calling on them to suspend any questionable
foreclosures in the state.
The focus of this communication to trustees and servicers is
directed at pending and future foreclosures. If the documentation, notices and
processes involved in those comply with Washington law, they can move forward.
If irregularities exist, they should be corrected before the foreclosure process
is reinstituted. Read a Copy of the letters sent to the Trustees.
Download the list of the 52 Trustees in Washington state.
Survey: Economy Driving People Out of the Housing
RISMEDIA, October 12, 2010--
Nearly two-thirds of Americans say the current economic situation is making
them less likely to buy a house, according to a new national survey by
FindLaw.com (http://www.findlaw.com), a
popular legal information website.
Sixty-three percent of American adults say they are less likely to buy a
house because of the current state of the economy. Despite record-low mortgage
rates and an abundance of houses available on the market, only 8 percent of
people say the current economic situation makes them more likely to buy a house.
About a quarter of people – 28 percent – say they are neither more likely nor
less likely to buy a house because of the economy. (More...)
Deer Park site for Habitat project
Chelsea Bannach The Spokesman-Review
October 9, 2010 in
More than 100 local families now living in poverty will
achieve the American dream next summer. They will become homeowners.
Habitat for Humanity Spokane broke
ground today on a 20-acre site in Deer Park, where volunteers will build 114
homes for families currently relegated to substandard housing. (More....)
Value of 140-acre, 12-lot development at Liberty Lake said to
exceed $12 million
|Greenstone starts upscale homes project
Of the Journal of Business
Corp., the Liberty Lake-based real estate development company, says it's
developing a 12-lot residential subdivision, named MacKenzie Beach, on the
east side of Liberty Lake. The estimated value of the 140-acre development is
more than $12 million. (More...)
Downsizing? How to live large in a small
By JACLYN BANASH
It’s a constant battle: Small versus big. Less or more? There are arguments
to support both sides.
Having just downsized to the smallest apartment I have ever lived in, I was
intrigued by the idea of small being the new big. The challenge of storage and
saving space is usually the No. 1 problem for most small-home dwellers.
Organization is key, as is making the space work for your lifestyle. (Read more....)
Foreclosures sell at 26%
NEW YORK (CNNMoney.com) -- Homes
lost to foreclosure now make up a quarter of the real estate market -- and
they're selling at big bargains.
Nearly 250,000 residential properties in some stage of foreclosure changed
hands during the second quarter, RealtyTrac reported Thursday. They sold for
about 26% less than non-foreclosed homes, compared to 35% less in the first
Congress OKs higher mortgage loan limit
(Reuters) - The U.S. Congress on Thursday voted to
extend higher loan limits for government-backed mortgages, a move that should
help keep borrowing costs low and support the shaky housing sector. (Read