Before you buy the biggest ticket item in your life, know what you’re getting yourself into.
If you look around you see and hear about people who have “unplanned” babies and find themselves bogged down with everything like hospital bills (even with health insurance it’ll still costs $2k or more), waking up in the middle of the night to breast feed, daycare, and babysitting. If you haven’t seen Marlee and Me, check out the life of Jennifer Aniston and Owen Wilson after they have their first kid.
You ever feel lost, not because there’s no one to guide you, but because those guiding you don’t or won’t explain to you what’s going on? This was my first home buying experience when I lived in Austin, Texas.
It’s pretty common; to have a real estate agent ‘take care’ of everything for you. All you find yourself doing is signing and initializing on the dotted line. … Read More
There is a thought floating around that says-
Buyers should skip using a Buyer’s real estate agent and go directly to the Listing Agent (Seller’s Agent) if they want to buy a specific house.
The logic behind the thought is that the buyer will get a better price because the seller will discount the house an additional 3% because they don’t have to pay two agents and instead only have to pay one (the Listing Agent).
Here are … Read More
SHORT SALE CONSEQUENCES VS. FORECLOSURE
It’s no secret that many borrowers are underwater in their primary residences and investment properties. More often than not the investment properties are in a negative cash-flow situation and homeowners feel stuck in their primary residence knowing that it will take years to get “right-side up” in their house.
This article will be a four part series … Read More
On Tuesday I was able to visit Bellevue Towers with a buyer and was able to see for myself the reported 20% drop in list prices from the Seattle Times front page article on Tuesday, July 14th, 2009.
They actually contacted the Times before the article and used them sort of as a big free press release. The site agent in the picture was the gentleman that took us on a tour for a good hour … Read More
With falling prices, seller concessions, loosening lending guidelines, low down programs, low interest rates, and government tax credits- Seattle housing is reaching AFFORDABILITY levels not seen in years.
My neice used to pout to me a few years ago “Uncle, Davis- I’ll never be able to afford a house.” Wrong! Here are eleven neighborhoods with median prices under $300k. And yes, my hometown of … Read More
With Seattle house prices falling since August 2007, here are ten Seattle neighborhoods now with median prices below $400,000. What stands out to me? NE Seattle, Ballard/Greenlake, and Madison Park/Capitol Hill have all suffered double digit price drops- bringing their median prices below the $400,000 mark.
Shoreline and the Renton Highlands are compelling as they both register under $325,000.
In 2009, every key statistical category for King County is down about 20% from 2008. That is a good thing when you think about shrinking the number of Active properties (down 17% May over May and 19% YTD 2009 versus YTD 2008) in our region.
New Listings in King County were also down 21% May over May. This also points to inventory being under control.
Closed … Read More
How Does Increasing Inflation and Interest Rates Affect My Buying and Selling Decision in Real Estate?
Interest Rates’ Effect on Housing
Treasury bonds have witnessed intense volatility in the last few weeks- as yields have shot up to 3.83% on the 10-Year Treasury. That yield was at 2.14% during the nadir of the economic crisis.
What does that mean for the housing market? Mortgage rates have a historical relationship with the 10-Year Treasury- typically moving up and down with the yield on … Read More
May 2009 Home Prices – a look at the last 13 months.
Activity is up and Pricing is not in a free fall.
The King County Residential (No Condos) market may be stabilizing as median pricing for the last 5 months was-
Jan 2009 $382,500
Feb 2009 $375,000
Mar 2009 $363,850
Apr 2009 … Read More