March, 2013 RSS Icon
Found 47 entries for March, 2013.

Western Washington housing indicators aligned “for spring market to remember”

 

KIRKLAND, Wash. (March 5, 2013) – Real estate brokers around Washington state agree today’s market is far different than two years ago, with one industry veteran summing it up by saying key indicators “are in perfect alignment for a spring market to remember.” 

On the plus side, closed sales during February jumped more than 9 percent from a year ago and median sales prices are up 13 percent according to new figures from Northwest Multiple Listing Service. 

Last month’s pending sales across the 21 counties served by Northwest MLS also increased, but only slightly (1.7 percent) due in part to depleted inventory. 

“In my 37 years working in the real estate industry, I

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Punxsutawney Phil’s prediction of an early spring is showing up in the latest housing activity report from the Northwest Multiple Listing Service.

KIRKLAND, Wash. (Feb. 5, 2013) – Punxsutawney Phil’s prediction of an early spring is showing up in the latest housing activity report from the Northwest Multiple Listing Service. Its statistics for January showed a 14.4 percent year-over-year increase in pending sales and a 23.6 percent jump in closed sales amid a 31.3 percent decline in inventory.

The MLS reported 4,289 closed sales during January, surpassing the year ago total by 820 transactions. Last month’s completed sales of single family homes and condominiums had a median selling price of $239,300. That’s up 11.3 percent from the year-ago figure

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Northwest MLS Tallies Busy December as First-time Buyers, Investors Return

KIRKLAND, Wash. (Jan. 7, 2013) – Home buyers around western Washington made offers on 5,314 residences during December, outnumbering the 3,857 owners who listed their homes for sale. The imbalance helped push up prices and further thin already depleted inventory.

While the expected seasonal slowdown occurred last month, determined buyers were undaunted by sparse inventory and record-breaking rainy days, according to December statistics from Northwest Multiple Listing Service.

“This is a unique housing market,” said J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. “There is nothing normal about the combination of factors fueling the current market,” he

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With all the changes in the mortgage industry you probably thought zero down programs were gone but there's still one program available.

What is a USDA Home Loan?
USDA stands for United States Department of Agriculture. A USDA mortgage loan might be right for you if you want to purchase a home with no down payment. If you’re unsure about your credit rating, or have concerns about a down payment, USDA mortgage loans can give you piece of mind with super low closing costs and flexible payment options.

What Types of Loans does USDA offer? 
Currently, there are two kinds of USDA mortgage loans available for single family households:

USDA Guaranteed Rural Housing Loans 
USDA Guaranteed Loans are the most common type of USDA home loan and allow for higher

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Fannie Mae’s unique HomePath foreclosure program offers extremely lenient financing terms to the purchasers of foreclosures owned by Fannie Mae.

Fannie Mae’s unique HomePath foreclosure program offers extremely lenient financing terms to the purchasers of foreclosures owned by Fannie Mae. These properties are advantageous for many reasons, including special financing, a streamlined loan process, and properties that are in far better condition than standard foreclosures.

HomePath offers two types of financing: the HomePath mortgage, and the HomePath renovation mortgage. With a HomePath mortgage, the buyer’s down payment can be as low as 3% down, and unlike other low down payment loans no mortgage insurance is required. The HomePath mortgage is

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Interested in a home but it requires too many repairs to qualify for a standard FHA loan?  Consider a 203K Rehab loan

Most financed real estate purchases require an appraisal which is used to determine the fair market value of the home based on its condition and the recent sale price of comparable properties in the area. Because the lender may have the property returned to their portfolio in the event of a foreclosure, the property typically needs to be in decent condition in order for the loan to be approved. That’s why many “handyman special” properties are listed for sale as cash-only. There is, however, an alternative available to the knowledgeable buyer who wants to obtain financing for a home that needs major repairs.

The Federal Housing

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A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers’ mortgage obligations

A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers’ mortgage obligations and closing costs, such as property taxes, transfer taxes, and the real estate practitioner’s commission. The seller is unwilling or unable to cover the difference.

Some — although by no means all — short sellers may also be in default on their mortgage loans and be headed for foreclosure. However, home owners who bought at the top of the market or who took out large amounts of equity with a refinance and who now need to sell because of divorce or job transfer may also find themselves upside down, owing

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Bank of America listened to REALTORs and sellers along with the costly process of foreclosing and determined a change was needed.

For the past several years agents and even sellers cringed over the thought of applying for and processing a short sale from cradle to grave, that fear is now gone and Bank of America is taking the driver seat.

Bank of America listened to REALTORs and sellers along with the costly process of foreclosing and determined a change was needed.  Now processing a short sale through Bank of America can almost be as easy as a traditional sale.

The first step was to implement a system that allowed REALTORs to contact Bank of America’s short sale department and receive a timely response.  Instead of building a system from ground

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While there are some great deals on the market for used homes right now, there are also some amazing deals for undeveloped land.

With residential real estate prices at an all-time low, most people in the market to buy a home automatically assume they can get the most for their dollar by purchasing a used home. While there are some great deals on the market for used homes right now, there are also some amazing deals for undeveloped land.

Rather than settling for someone else’s home and essentially inheriting someone else’s ‘problems’, why not build a new house exactly as you want it and exactly where you want it?

For most people, the idea of building their dream home seems like an impossible goal to accomplish. Really, it’s a lot easier than most

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The Good Neighbor Next Door (GNND) program offered is a great way for the everyday service heroes in the United States to purchase a home that has gone into a HUD foreclosure.

The Good Neighbor Next Door (GNND) program offered is a great way for the everyday service heroes in the United States to purchase a home that has gone into a HUD foreclosure. These homes and their mortgages are insured through the FHA or Federal Housing Association and when the buyers who live in those homes can’t afford the payments go into foreclosure are offered to the public. Being on the list gives you an advantage in bidding for and obtaining these HUDhomes.

Because the professions mentioned above are considered to be good neighbors, HUD offers the program to them as

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