Facebook
Twitter
Pinterest
Copy Link
Bank of America in the News…
Bank of America is offering upto $30,000 to homeowners who short sale their property instead of being foreclosed on in an article reported by CNN Money.
http://money.cnn.com/2012/05/15/real_estate/short-sale/index.htm
Seattle area/King County Prices….
The Seattle Times a week ago writes a story on how Seattle area homes prices continue to fall in February, a week later, they have miracously changed their tune and now prices are rising…Really? All this in a week? What will they say next week? Below are both articles.
http://seattletimes.nwsource.com/html/businesstechnology/2018060801_caseshiller25.html
http://seattletimes.nwsource.com/html/businesstechnology/2018135316_homesales04.html
10 Tightest housing markets, Seattle #…?
An article posted by MSN real estate shows the top 1o major housing markets with the shortest supply of homes available for sale. #3 on the list is the Seattle-Bellevue-Everett area. With low inventory levels, houses are getting multiple offers and in some cases going for above asking price. Can you afford to wait?
http://realestate.msn.com/10-major-housing-markets-with-the-shortest-supply-of-homes#4
Common Title Questions…and Answers
Many buyers and sellers have questions regarding title, that sometimes the title office can answer best. These can be regarding different deeds depending on the type of sale or recording taking place. In addition, questions about liens or ID affidavits(usually associated with more common names, IE. John Smith). Attached is a link that can hopefully provide answers to some of those questions you have.
http://www.cwtitle.net/index.cfm?fuseaction=page.display&page_id=88
FHA Waives Anti-Flipping Regulations
FHA(Federal Housing Authority) typically does not insure a mortgage on a property if the seller hasowned the property for less than 90 days. However, they waived this rule in 2010, extended into 2011, and now have re-extended until the end of 2012. The hope is for this to allow these homes to sell as fast as possible and helping to stabilize prices in neighborhoods with high foreclosure activity.
Since FHA allowed this program to occur in February 2010, FHA has insured nearly 42,000 mortgages.
Article from DCS News.
This Weekend’s Open House
Open house scheduled for this coming Sunday January 15th 1-4pm. 3 bedroom rambler, updated, good sized lot.
Jobless Rate Drops to Lowest Since 2009
Private sector job growth has moved the unemployment rate for Washington state to 8.7%, down from 9.1% in October. Professional and business services added 4,200 jobs, Leisure and hospitality added 3,800 and construction added 2,000. This drop follows the U.S. trend of 8.6% Unemployment rate.
Some critics may argue that with the Holiday season that these numbers are skewed or misleading, in any event adding jobs is a good thing. Lets say some of these are seasonal hires, many times those “seasonal hires” will turn into full time jobs.
Information provided by the Associated Press.
This Weekend’s Open House
On Sunday December 18th from 1-4pm I will be holding this New listing open. Rambler on a cul-de-sac, hardwood floors, hot tub, great yard, private setting, great house.
http://report2.matrix.nwmls.com/MatrixReportServer/Output/32080/Resi_Photo_Gallery4023.PDF
Will that remodel payoff?
Whether you’re considering a remodel for your own enjoyment while you’re living in your home or a remodel prior to selling your home, how much of that cost will you recoup? Well, it depends not only on what grade (mid range, upscale, etc) of remodel you do, but also where you live and what the project is. A new report from Realtor magazine (Cost vs. Value) analyzes various remodel projects.
Here are a few interesting facts I grabbed from it. This years highest return (90.2%) in the Seattle area came from…siding replacement using fiber/cement siding, compare this with last years return of just 72.8%. So much for that Chef’s kitchen or spa-like master bath. On the other side, the lowest return came from a home office remodel, returning only 48%, up less than 5% from a year ago.
A couple of more high profile remodels, Major Kitchen Remodel (upscale) projects about 68% return in the Seattle area compared to a National average of 57%. A mid range bathroom remodel returns about 69% in the Seattle area compared to the National average of 62%.
Most of the remodel projects in the Seattle area listed (36 total) were at or above the National average in percent of cost recouped. So, you may not recoup all of your cost, you will recoup the majority and if you remodel while you are living in the property, you will also receive the enjoyment of the finished project until you decide to move.
