wenatchee mortgage: Land Finanancing continues in Eastern Washington - 06/17/09 12:39 AM
I was at a meeting with Realtors from Western Washington, and they were amazed that we were still doing lot and land financing. Actually in our market areas of Wenatchee, Chelan, Winthrop, and Leavenworth (plus surrounding Counties), there are actually several community lenders that will lend on land. Each bank has … (0 comments)
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wenatchee mortgage: Construction Financing Continues - 03/03/09 01:37 PM
I cringe whenever people ask, "Are you still lending money?"; but I suppose it is a fair question these days. In my markets of Wenatchee, Leavenworth, Chelan, Winthrop and Okanogan County, most of the banks that used to do a lot of construction lending have severely cut back their programs. Some of … (0 comments)
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wenatchee mortgage: Financing an As-Is Home in Wenatchee - 12/02/08 01:05 AM
One fallout from the current market is the increase in homes being sold As-Is. Either a builder was unable to finish, or maybe the house went back to the bank in less than perfect condition. Either way, you end up with Sellers who don't want to put more cash into the … (0 comments)
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wenatchee mortgage: You Can Still Buy a Home For Zero Down - 10/16/08 12:25 AM
The subtitle of this message should be the paraphrase of Mark Twain: Bank Liquidity-"The reports of my death have been greatly exaggerated."
The media coverage of the financial and Real Estate news has created a lot of confusion amongst the general public. I have had Realtors tell me that some … (4 comments)
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wenatchee mortgage: Good Time to Buy in Wenatchee - 10/03/08 12:32 PM
For those people who have been looking at homes and are on the fence, I would encourage you to act now and get your mortgage rate locked in, as I think some of today's events will lead to higher rates in the next few weeks, and possibly even today.
The early … (1 comments)
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wenatchee mortgage: Against the Bailout - 09/24/08 02:04 AM
Now I know I am not as smart as FED Chief Ben Bernanke and all his advisors, but I have to voice my opinion that this $700Billion bailout is a bad deal for the economy and the country.
First, it will result in a raising of interest rates and a slowing … (7 comments)
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wenatchee mortgage: Wenatchee Market Primed for a Rebound - 09/18/08 01:44 AM
It looks like the pieces have fallen into place for home sales to start to pick back up in Wenatchee. The two main factors are lower financing rates and available affordable homes.
A year ago you couldn't find any homes under $200,000 in Wenatchee, but currently there are 70 homes on the … (0 comments)
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wenatchee mortgage: Mortgage Rates Headed Down- But Not Everyone Qualifies - 09/05/08 01:02 AM
Just an update on the economy and mortgage rates- I had mentioned previously that rates are volatile because the inflation news raises rates and recession or slowdown news lowers rates. Mortgage rates have been moving up and down with every news headline.
Here is my best guess from what I … (0 comments)
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wenatchee mortgage: Market support for Wenatchee Homes - 07/17/08 01:18 AM
In the Wenatchee Real Estate market, you have to be careful about too many statistics. I actually took a statistics class or two back at UW many years ago, and we learned about something called sample size. Basically, if you don't have a lot of pieces to measure and slice and dice, … (0 comments)
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wenatchee mortgage: Winthrop and Methow Valley Construction - 06/10/08 12:10 AM
One of the things I love about my job is that I have to inspect home construction projects every month throughout North Central Washington, which allows me time to enjoy the beauty and wildlife of our area. I recently made my monthly trip up to Winthrop and Mazama in the Methow Valley, … (1 comments)
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wenatchee mortgage: Owner-Builder Financing in Eastern Washington - 04/23/08 12:36 AM
I wrote last time that this was a great year for building your own home, and I have had lots of requests for financing. One thing I want to point out to people, is that at this point in time, if you want someone to finance you as an owner builder, … (0 comments)
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wenatchee mortgage: Wenatchee Owner Builder Financing - 03/17/08 12:10 AM
2008 seems to be a great year to build your own home in the Wenatchee area. I have seen a large increase in the number of clients requesting owner-builder mortgages. Some bought land a few years ago and others are buying their lots now. It looks like people will save some … (1 comments)
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wenatchee mortgage: Chelan Land Financing - 02/05/08 01:37 AM
Lot and land sales at Lake Chelan seem to be brisk right now; as I am getting inquiries every week from people wanting to finance a building lot or some land. Most people have not financed land before so I hope to remove some confusion with a little explanation. This would … (0 comments)
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wenatchee mortgage: Wenatchee Mortgage Market Update - 02/02/08 02:13 AM
In our markets of Wenatchee, Leavenworth and Chelan, we are benefitting from the drop in mortgage rates while not participating in the housing market declines that are hitting some parts of the country. But, as we have local media that just re-prints what the national Press is saying, we have some … (3 comments)
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wenatchee mortgage: Wenatchee Real Estate benefits from Cooling Economy - 01/28/08 11:44 PM
We are very fortunate in the markets of Wenatchee, Leavenworth and Chelan in Eastern Washington. We are able to take advantage of the low mortgage rates driven by the cooling national economy, all without actually having to participate in the cooling economy. Last week was crazy, and it looks like mortgage rates … (2 comments)
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wenatchee mortgage: Is Mortgage Qualifying Getting Easier? - 10/30/07 12:50 AM
In the last week, it appears that Fannie Mae is loosening the reigns and making mortgage qualifying easier. I won't try to completely explain Automated Underwriting here, but basically, when we as lenders take an application for a loan that will be sold to Fannie Mae or other investor, we gather all the details … (4 comments)
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wenatchee mortgage: Great news for Veterans and First Time Homebuyers - 10/04/07 01:29 AM
In the State of Washington, the HouseKey program has resumed it's funding. This means Veterans and anyone who has not owned a primary residence in the last 3 years can get 100% financing for their home purchase, including manufactured homes and condos. The program is offered through specific loan officers who have … (4 comments)
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wenatchee mortgage: Refinance Boom in Wenatchee - 10/03/07 01:54 AM
With the extraordinary increase in home values over the past 2-3 years, most people gained a lot of equity in their homes and land. I am now seeing a lot of people coming in to refinance; some to take equity out, others to eliminate PMI (Private Mortgage Insurance). I closed loans … (2 comments)
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wenatchee mortgage: Wenatchee Tour of Homes - This Week - 09/12/07 02:29 PM
If you have read about the great Real Estate market in Wenatchee and want to check it out, this week provides a perfect opportunity. High temps will be in the 80's and the Tour of homes runs Thursday through Sunday.
Thirteen homes will be on display, all from local builders. Plus while … (0 comments)
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wenatchee mortgage: Wenatchee Tour of Homes - 08/24/07 01:13 AM
The 2007 Wenatchee Tour of Homes is coming up in just 3 weeks. I wanted to give you a quick preview of the 13 homes. Unlike the Seattle Street of Dreams, the NCHBA and Sangster Motors Tour of Homes (the official name) is not located on one street, so you will … (1 comments)
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