Archive for the ‘Seattle Real Estate’ Category
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Feb
25
Posted by tracy cobbin
New FHA Lending Policies
Recently, the Federal Housing Administration (FHA) announced some lending changes. If you or someone you know is considering an FHA loan, some of these changes may affect you. Here’s a brief rundown of the major changes.
Increased mortgage insurance – The mortgage insurance premium (referred to as private mortgage insurance by many people) will be increased from 1.75% to 2.25%. This change will add some cost to purchasing a home, but will not overburden consumers since the mortgage insurance is paid over the life of the loan, rather than upfront at closing.
New down payment and credit score requirements – According to the new policy, homebuyers who have a credit score of at least 580 may still be able to purchase a home with 3.5% down, but those with credit scores of less than 580 will be required to put down at least 10%.
Reduced seller concession – The seller will now only be able to offer the homebuyer 3% to help defray closing costs, as opposed to 6% under the previous policy.
The bottom line is that the changes will impact some homebuyers more than others. But in the end, the FHA is still committed to providing affordable home loans.
Your Edmonds Realtor’s
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Mar
18
Posted by tracy cobbin
Edmonds Property
I don’t know if your aware of it or not but there are 97 properties for sale in the Edmonds area between $100,000 to $350,000, the median price range is $397,000. Like I’ve said and I’ll continue to say it if you can buy, then buy in this market. Purchase and hold it will pay off once the market returns I promise. There are great opportunities for investors and first time home buyers, if your looking for rentals, there out there if you want properties ot cash flow its out here. $8,0000 would be a nice nest egg wouldn’t it that’s what you you receive if your a first time buyer. What’s it take to be a first time buyer, well you can’t have owned a home in the last 3 years for starters. Its worth checking into I’ll direct you to a first time buyers class and you will learn about the states down payment assistance programs. Ask me I’ll plug you in and you’ll be the wiser. Brought to you by The Cobbin Group
Seattle Condo
Capital Hill Loft
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Mar
04
Posted by tracy cobbin
Every week I will feature listings from The Cobbin Group or another realtors all for your viewing pleasure. The idea is that if you know some one who is looking to own that you would pass this information onto them. Let them know where you heard it and have them contact us it will come back to you 10 fold. Its the law of giving. Here are the picks for this week and remember ” The money you have is in direct proportion to the value you’ve given to others. The more you give of yourself, incredibly, the more economic power comes your way. (Tod Barnhart )
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Mar
02
Posted by tracy cobbin
According to the Seattle PI we are living back in 2005 when it comes to our housing prices. The Standard & Poor’s S&P/Case Shiller Price Indices reports. The value in King, Pierce and Snohomish counties in December 2008 decreased 3.6 percent from November, 13.4 percent from a year earlier and 16.7 percent from the all-time peak in July 2007.
It was the 11th consecutive record annual decline and second consecutive record monthly drop for the Seattle index, which goes back to the start of 1990. Meanwhile, the Federal Housing Finance Agency reported the value of a typical house in King and Snohomish counties down just 5 percent in the fourth quarter from an all-time high in the fourth quarter of 2007 and 1.6 percent from the third quarter. Pierce County’s typical value was down 5.1 percent from a year earlier and 0.8 percent from the third quarter, the agency said.
Area House Prices
The biggest difference between the two reports is that the Federal Housing Finance Agency only looks at loans through mortgage giants Fannie Mae and Freddie Mac. It excludes “jumbo” mortgages larger than government-imposed caps or subprime and Alt-A mortgages that do not comply with Fannie and Freddie standards, said Glenn Crellin, director of the Washington Center for Real Estate Research at Washington State University.
Both reports gauge market movement by tracking repeat transactions of specific houses, rather than depending on what happens to sell in any given month. S&P looks only at sales, while the Federal Housing Finance Agency also includes appraisals for refinances. S&P’s numbers fit better with the latest report from the Northwest Multiple Listing Service, which showed the median price of a King County house that sold in January was $382,500, down 12.1 percent from a year earlier and 5.2 percent from December.
The S&P report put Seattle ninth out of 20 areas it tracks for annual decline and 16th for monthly drop. Values were down in all 20 areas.
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Mar
01
Posted by tracy cobbin
First of all I would like to say what I’ve been saying since last year, “THIS IS THE BEST BUYERS MARKET YET” If you have the means to purchase property you should be doing so with the idea your buying to hold, not to flip. Rentals, investment properties, forclosures, and short-sales there all out there for the taking. You just have to put a little skin in the game folks there are loans out there and great interest rates if you need some help finding them give me a call, really. We conduct distressed property tours monthly and will show you where the hot properties are located. I will feature different real estate listings weekly these are our current listings have a great week.
Loft Condo $275,000
Cedar Park Condo 1Br 1Ba $169,000
Burien Rambler 2 Br 1Ba
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Jan
28
Posted by tracy cobbin
Seattle's Space Needle and Skyline
Because of their durable real-estate markets, places like San Antonio, Pittsburgh, Boston and even Seattle are considered least risky for losing money on a home purchase, says HomeSmartreports.com, a California company that measures the chance a buyer will lose money on a property purchase. If you were searching for pockets of optimism in the U.S. housing market, where would you look? Easy guesses would be to avoid Detroit, Cleveland or any cities with domestic automobile plants or troubled manufacturers.
Then there are the foreclosure gulches of Central and Southern California, which include the Modesto, Stockton, Bakersfield, Riverside and Sacramento areas. Those cities will take a long time to recover. Too many homes there were sold at bubble prices to people with dodgy finances. Most shortlists of regions likely to experience prolonged housing slumps include Las Vegas, Phoenix and South Florida. You may be able to find some bargains there, although that doesn’t mean you will achieve any gains for years to come — unless demand roars back and supplies are diminished.
Rates on 30-year fixed-rate mortgages now average about 5 percent, Freddie Mac said in a recent report. Where can you be reasonably assured that your housing investment won’t evaporate? Like buying a stock or company, you need to gauge a home’s risks, which many buyers neglect to do.
Also on the “least-risky” list are Seattle; Boston, Essex County and Worcester, Mass.; Honolulu; Bethesda-Gaithersburg, Md.; Edison, N.J.; New York and Nassau-Suffolk County (Long Island); Albuquerque, N.M.; and El Paso, Texas.
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Jan
26
Posted by tracy cobbin
Stephine
Last Tuesday was a great event for two reasons. One we’ve got a new president that was long over due, and two Greater Seattle Keller Williams had its Grand Opening. Lots of new agents, vendors, and clients got a chance to see this beautiful 10,000sf third floor office with a spread of food, drink, and music. Jana and I are proud to be a part of this office the energy is positive and the leadership has the knowledge that is needed to make great things happen. So should you agents out there surfing the net are looking for a new home give me a call and I would be more than happy to so you around our new office. Enjoy the photo’s and have a great week.
Missi Huff & Keller Williams Agent
Dale Galvin of Galvin Law Firm
Dave Hansen, Linda Williford & Guest
Patrick Flynn, Linda Williford, & Keller Williams Agents
Team Leaders Office with Mom & guest
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Jan
19
Posted by tracy cobbin
I don’t normally write about topics that are not about Edmonds directly but today I felt the need to say something about this holiday. Because with out his dream many of us wouldn’t be able to have are own dreams. They say (Dreamers are the Successors of the World) I myself have always been a dreamer and I’ll continue to do so, because if not I fear that there is nothing to look forward to each day. Dr Martin Luther King wanted to unite all of us under one umbrella and he paid the price to do so. Each and every one of us have something to be thankful for form the time we wake up each morning through the course of the day there is something to be THANKFUL for. Find them embrase them it will make you feel better about your life, and the things that you think you can’t do for what ever reason, and remember all the blessing you do have that we take for granted Happy Birthday Dr King and thank you!!
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Dec
22
Posted by tracy cobbin
Winter in Edmonds
Its been a long time since Edmonds and the greater Seattle area has experienced a winter such as this one. 10 years to be exact I remember it well I lived in Kingston Wa at that time and was snowed in just as I have been for the last four days. But as they say some times you must make lemonade out of lemons here are some folks doing just that. By the way be safe and enjoy the holidays.
Downtown Edmonds
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Dec
08
Posted by tracy cobbin
Shannon Rasmussen was still out of breath as she left the Westin Seattle ballroom with her mother and real-estate agent. A teacher and recent graduate, she had just placed the winning bid on a new four-bedroom house in Everett for $295,000.
“I’m very excited. It’s surreal,” Rasmussen said. For less than $300,000, she got a 1,865-square-foot house in a new development that auction organizers say was previously valued at $365,995.
About 300 people joined Rasmussen on Sunday to pick over 92 homes on the auction block, lured by news coverage and sidewalk signs covering neighborhoods where homes were being auctioned. As housing prices have fallen and sales have slowed, developers are turning to auctions to quickly sell new, non-foreclosure condos, townhouses and houses. The auction .sold 62 out of 92 homes for a total of $15.4 million and an average sales price of $248,387. Real Estate Disposition LLC, a Southern California company, organized the Seattle auction and has conducted others throughout the country.
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