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2011 October · WAHomeowners.com

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The Seattle Times Real-Estate Calendar – November

The Seattle Times Real-Estate Calendar – November

Click here for information on upcoming real-estate classes, seminars, and events through December 2011 from The Seattle Times. Includes first-time homebuyer classes, foreclosure solutions, and listings for non-profit housing assistance.

Young adults key to housing rebound, report says

Young adults key to housing rebound, report says

“The key to getting the nation’s housing market to bounce back lies in an unlikely source, two bond-fund analysts argue: the increased number of 20-somethings who stay with their parents or live with roommates…

A household formation is when children move out of the house, people get married, roommates split apart or couples separate. According to Census Bureau data, household formation has fallen below the yearly rate of 500,000 to 3.5 million it has been for many years, as more young people choose to live with their parents or stay with their roommates longer.

But the household-formation rate appears to be bottoming, and this may signal better times ahead for housing, the Putnam analysts say.”

Read More on The Seattle Times…

Refinancings outpace new mortgages while rates are at record lows

Refinancings outpace new mortgages while rates are at record lows

Amy Haenner, a broker at Legacy Lending Group in Fort Wayne, Ind., is processing eight mortgages this week. None of them is for home purchases.

A year ago, her business was evenly split between home-purchase loans and refinancings that reduce interest rates on existing mortgages. That’s changed as a slowing U.S. economy curtails buying demand and encourages current owners to save cash by locking in record-low borrowing costs, she said.

“People are deciding to stay in place until the economy turns around,” Haenner said. “That same concern for the economy is causing buyers to take a wait-and-see attitude.”

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Seattle Among Forbes 10 Best Weekend Vacation Cities

Seattle Among Forbes 10 Best Weekend Vacation Cities

“… Seattle is a big city that feels cozy, thanks to its web of neighborhoods, all quite manageable by foot, bike or public transport. It revolves around its famed waterfront, but also features unique attractions like the Space Needle and billionaire Paul Allen’s rock and roll museum, the Music Experience Project. Food has become a passion here, and the city has a great and growing food, microbrew, and farmers’ market scene, showcasing great seafood and access to the exploding wine scene of the Pacific Northwest…”

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Faulty mortgages have cost 5 biggest home lenders $69 billion

Faulty mortgages have cost 5 biggest home lenders $69 billion

“JPMorgan Chase disclosed $1.3 billion of new expenses tied to faulty mortgages and foreclosures in its third quarter, pushing the bill for the five biggest home lenders since 2007 to almost $69 billion…

…Cost are mounting as borrowers, investors and states accuse banks of sloppy lending and improper foreclosures. The total may top $120 billion because mortgage buyers such as Fannie Mae are becoming more aggressive, said Paul Miller, the FBR Capital Markets analyst, and claims are spreading to loans written after banks said they changed their practices.”

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