October, 2013 RSS Icon
Found 6 entries for October, 2013.

Looking for a good deal on a house? If you're not picky, have some time and know-how, a bank owned foreclosure may be a good option for you.

According to National Mortgage Professional Magazine, sales of foreclosures are slowly creeping up. In September, the sale of bank-owned properties rose 2%, but there are still a lot of these properties on the market, available for a good price. Nationally, distressed houses (foreclosures) sold for a median price of $112,000 last month, 41% less than the median price of non-distressed houses, which came in at $189,000.

If you're shopping for property and are considering foreclosures, consider some of these tips:

  1. Find a realtor who knows a lot about foreclosures. They often have relationships with the
6488 Views, 0 Comments
Read Full Post

Despite the recent economic slump, real estate is always a good investment.  An investment in property, over the long haul, will always increase in value, and very often makes more than your typical stocks and mutual funds. For anyone looking to invest, real estate is a great way to diversify your portfolio and an excellent part of a long-term strategy. 

The only problem that some people run into with an investment property is a time issue.  Some investors who want to be hands-on with everything, find themselves overwhelmed, and sell before they realize the financial benefit of the property.  Wise, money-minded people know that delegating time-consuming tasks to an expert in property management will keep the investment growing, without a large time

6013 Views, 0 Comments
Read Full Post

Homeowner's insurance compensates you if your property is damaged or destroyed. No jurisdiction in Washington State requires it when you're buying or owning a home.

However, if you're not paying cash for the purchase, you'll need to get a mortgage for your purchase. Mortgage lenders do require that you have enough insurance to cover either what you owe or the total cost of the home. They are then protected if their share of the asset is destroyed. For example, if a fire destroys the home and you didn't have insurance, you would not be able to pay to rebuild it. You may default on the loan, leaving the lender holding the bag. Insurance avoids this possibility.

Lenders demand proof of insurance before approving the mortgage. Many require at least a

2871 Views, 0 Comments
Read Full Post

Northwest MLS NWMLSKirkland, WA - October 4, 2013. September tested the housing market's resilience around Western Washington with fluctuating mortgage rates, record-setting rains, and persistent inventory shortages in some areas. By month's end, however, both pending and closed sales outgained the same period a year ago, according to the latest figures from Northwest Multiple Listing Service.

Prices also increased compared to 12 months ago, but fell slightly from the previous month. Year-to-date figures through nine months show prices for homes and condominiums that have sold in the 21 counties served by the MLS are up 12 percent from a year ago.

With uncertainty about the duration of the government shutdown, brokers say the positive momentum could stall.

Asked about

1160 Views, 0 Comments
Read Full Post

With all the investigations you have to do and with the employment situation still uncertain, it's difficult to find tenants who pay for their rentals on time, don't complain, and keep your property spotless. When you find such a treasure, you want to do all you can to get him or her to renew your lease. Here are a few guidelines for keeping these prized finds happy.

Listen to their complaints.

Don't just pay lip service to tenant issues like leaky faucets, cracked sidewalks, or neighbors taking up their parking spots. Resolve them as quickly as possible. If a problem poses a safety hazard, such as a broken stairstep, you must repair them immediately, or risk injury to the occupants. If tenants feel that you have their best interests at heart,

1017 Views, 0 Comments
Read Full Post

Unless you're one of the select few who can pay the full price of real estate with cash, you're going to need a mortgage to afford your purchase. Lenders look at your down payment and income to determine if you qualify for a loan. They also want to know how you handle your finances and they can get that information by looking at your credit report.

If you want to see what lenders see, you can order a copy. By law, you're entitled to one free report every year from each of the major credit bureaus: Equifax, Experian, and TransUnion. You can only get the document online without paying or subscribing to anything from AnnualCreditReport.com. If you order each bureau's option every four months, you'll get a constant picture of your credit throughout the

927 Views, 0 Comments
Read Full Post