Big 4 to participate in HARP 2.0 which explains how Bank of America, Chase, CitiGroup and Wells Fargo have agreed to participate.
Still time to sign up for Nov 6th class
November 1, 2011 By Leave a Comment
There is still time to sign up for our November 6th first-time homebuyer class, sponsored by the Washington State Housing Finance Commission. If you know someone who might benefit from the information we cover in the class, have them contact me or Angela Cohen at Network Home Loans. They can sign up on my website www.Keylon4Homes.com, call or send me an email. We’ll have our 2012 class schedule posted soon. Closing delays due to financing
November 1, 2011 By Leave a Comment
In the month of October, we had two transactions which closed late, both for non-distressed properties, both were late due to the lender’s inability to get their job done within the agreed-upon timeframe. I read an interesting article today in the latest Campbell/Inside Mortgage Finance HousingPulse survey reports, which indicates we are not alone in this condition. More than ever, it’s so important to work with a mortgage lender that you have confidence they will deliver within the contractual timeframe. You can read the report at this link. Housing Trends Survey conducted Sept 2011
What do you think? Is the new normal closing 60 days or more?
On the positive side, the % that distressed properties make up of the total listed market is slowly decreasing – they still represent a significant amount of the market and will do so for the next couple of years
Fun things to do in November
October 31, 2011 By Leave a Comment
Some fun activities for the month of November:
Urban Wine Tour (206)427-2515, Chocolate Box, Seattle www.106Pine.com
66th Annual Holiday Tree Lighting & Chitty Chitty Bang Bang (253)591-5890, Pantages Theater, Tacoma http://broadwaycenter.org
University Chorale & Chamber Singers, Meany Theater, UofW Seattle www.Music.Washington.edu
Best of the Northwest Fall Art & Fine Craft Show (360)731-2628, Kitsap County Fairgrounds, Kitsap Sun Pavillion www.HolidayGiftFair.com
25th Annual Taste of the Holidays & Local Wine Walk (425)483-2250, Country Village, Bothell www.CountryVillageBothell.com
Do you have other suggestions? Let me know and I’ll add them to my list.
New Pics of KHM W Seattle build
October 14, 2011 By Leave a Comment
The walls of the 2nd floor are in place, and the roof should be on by the end of the month – watertight before the winter rains start. Here are some recent photos:
WA State Foreclosure Fairness Act
October 14, 2011 By Leave a Comment
The 2011 state Legislature passed the Washington State Foreclosure Fairness act, and established the Washington Foreclosure Mediation Program to help provide homeowners with foreclosure assistance. The law and the program were implemented in July of this year. Lenders are now required to notify borrowers prior to foreclosure of the availability of foreclosure prevention counseling and the potential for mediation. Foreclosure mediation is intended to provide a non-judicial process conducted by a neutral third party (the mediator) who will assure each party is heard fully and fairly and to reach a resolution if possible. For more information go to http://www.warealtor.org/news-events/foreclosure-fairness-act/ . There is help out there.
Latest RE topics in my newsletter
October 14, 2011 By Leave a Comment
These are topics covered in my October Newsletter which can be found on my website if you’d like more info:
In this October Issue:
· 30-Year Mortgage Rate
· WA State Foreclosure Fairness Act 
· Veterans Housing Benefits Info Project
· First-time Homebuyer Class Schedule
· Recent Sales
August Pending Homes Sales Volume Dropped
September 29, 2011 By Leave a Comment
The volume of national pending homes sales dropped in August, but remains above the level for the same month in 2010. There were regional differences, the Northeast was affected by severe weather. Lawrence Yun, Chief Economist for the National Association of Realtors, feels there are improving factors in place when compared to last year (total # of jobs, rent rate increase of 2%, higher stock market, more investors buying real estate) but agreed that there are international factors affecting our economy and therefore our housing market. Here’s a link to the video interview with Yun: Look at recent sales and factors by Lawrence Yun.
Home Downsizing Trend Slowing
September 16, 2011 By Leave a Comment
The last 3-4 years, the s.f. of new construction single-family homes has been shrinking, as homeowners look for savings in purchase price and cost to maintain.
It appears that this trend is leveling off (see NAR Downsizing Trend Reversing) – perhaps there is a minimum sf size below which new construction buyers aren’t ready to go. They still want enough bathrooms, big closets, big kitchens and media rooms….
In an article reviewing the recent Home Design Trends Survey by the American Institute of Architects (AIA), (see Are Home Sizes Finally Done Shrinking) the writer quotes AIA Chief Economist Kermit Baker: “While this doesn’t suggest that home sizes are suddenly and dramtically increasing, it does indicate that the pace of decline has slowed.”
A third related article can be read here: The Way We Live Now Is Bigger
Mortgage Rates Dip Reaching Record Low
September 16, 2011 By Leave a Comment
Last week news from NAR regarding mortgage rates Mortgage Rates Dip indicate they have reached yet another record low point, but the general pessimism of the country seems to cancel out the good news. Coincided with the bad jobs numbers and the partisan yammering about the new jobs bill, so consumers continue to sit on the sidelines.
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