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Is It Time to Buy or Refinance?

It’s hard to believe that rates are as low as they are these days.   If you’re not buying, think about refinancing your home.   I just refinanced my home with a 7 year arm for 3.1%!  It lowered our monthly payments by $300. An adjustable mortgage may not work for everyone, but with fixed rates…Read More »

Should Buyers Be Required to Put 20% Down to Get The Best Rates for a Home?

How does the government fix the mortgage meltdown mess to ensure nothing like this happens again? Should buyers be required to have a 20% minimum down payment in order to purchase a home?  Is this the answer?   Lawmakers in the other Washington, not here in Seattle, are looking into this issue.   Congress is currently looking…Read More »

What Were The Chances of Your Seattle/Eastside Condo Selling in August, 2009?

(The absorption rate, the percentage of condos selling,  is the number of condos for sale in any given month divided by the actual number of condos sold that month.  So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.) August, 2009                            1429 condos for sale         …Read More »

HUD Giveth and HUD Taketh Away The $8000 First Time Home Buyer Credit for a Downpayment

The $8000 first time home buyer credit cannot be used towards a buyer’s downpayment.  It’s dead on arrival.  After much fanfare last month and at the “gentle” urging of the IRS,  HUD re-evaluated the potential addition to the first time home buyer program and decided against using the tax credit towards a first time buyer’s…Read More »

The "New and Improved" Appraisal System is New, But Not Improved

I’m having a bad real estate day because of an appraisal and I was just about to rip my hair out until I read Kris Berg’s excellent piece which did make me laugh about the “fun” we are having with appraisals these days.  Kris has a great way of getting serious issues across to her…Read More »

The $8000 First Time Home Buyer Tax Credit Can Be Used Towards a Downpayment

The $8000 first time home buyer credit can be used for a buyer’s down payment if a buyer qualifies for the program. Washington State had passed a measure for first time home buyers to use the money towards a down payment, as did a few other states, but now it looks like it’s  a “go”…Read More »

WA State & the $8000 First Time Home Buyer Tax Credit

Will Washington State be the first state in the nation to offer a program to first time buyers to use the $8000 home buyer credit towards a down payment for a home? Here’s a memo from Barbara Lally of the Washington State Realtors Association explaining the program that is in the works: OLYMPIA, Wash. –…Read More »

Consumer Confidence, Purchasing Power, The Fear Factor, and The Silver Lining

Consumer confidence, shifting values, and changes in purchasing power? Windermere Real Estate sent an email out this morning with the following charts highlighting these issues.  The information is from James Russo, Vice President of Marketing at Neilsen.    The top chart focuses on the ups and downs with consumer confidence.  We’ve seen other dips this decade…Read More »

Is This a Good Time for Seattle/Eastside Buyers to Buy A Home?

Only you can decide if it’s a good time for you to buy a home.  There are lots of reasons to make a home purchase on Seattle’s Eastside, particularly if you’re a first time home buyer, according to The Seattle Times. There are some wonderful choices.   In King County alone, there are over 13,000 properties…Read More »

Final Thoughts on Real Estate & the Stimulus Plan-Some Things to Consider

Most of the real estate commentary I’ve seen on the stimulus plan focuses on buying a home, mortgage rates, and mitigating disclosures.   Here’s some  of the highlights and other things to think about from final real estate version: Everyone now knows the tax credit will be $8000 with no payback required.  It’s only available…Read More »


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