seattle real estate current market: Every 10 Miles May Cost You Money - 07/14/08 12:27 PM
Will there be an unraveling of the housing market in the suburban fringes of Seattle? That is what is happening in other parts of the country according to a recent article in BusinessWeek. The article says that most of the overbuilding took place in the outer suburbs around the country in the last few years and now that the market has turned down, these areas are being hit the hardest.
We have been advising our clients for years to buy as close in to the city as possible. The idea of "drive until you can afford what you want" didn't make any sense to us. For … (3 comments)
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seattle real estate current market: More Home Foreclosures in Seattle's Future? What to do? - 06/23/08 02:29 PM
It was reported last week that home foreclosures have exceeded the 1 million mark nation wide. Most of those however are located in other states. Washington State accounts for less than 1% of all foreclosures nationally. Most of these foreclosures nation wide have been blamed on adjustable rate mortgages, when the buyer was offered a "teaser" rate then saw their house payment increase significantly over the next couple of years while their income only went up slightly. We believe that some of the foreclosures in the Seattle area have and will be the result of buyers paying too much for the … (0 comments)
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seattle real estate current market: Are Lenders Responsible for a Continuing Downturn the Housing Market Today? - 06/11/08 10:59 AM
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Some say that lenders may be at fault for our tight Mortgage Credit crunch right now, and for all those people that got loans that were interest only or zero down and are now underwater on the property because prices have fallen and then can’t sell the home for what they bought it for etc. etc. etc.
It’s a lot more completed than that. Let’s take a look at this from the perspective of two Realtors that have been doing business in the Seattle real estate market for about 20 years.
First of all, a little over half of our … (8 comments)
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seattle real estate current market: Stop Reading the Newspapers!! Buy Seattle Real Estate in 2008 - 03/14/08 02:02 PM
Will Rogers once said that you only need to buy one newspaper in your life and just keep reading it over and over again because things don't really change. People in Seattle...take his advice!!
The economy in Seattle has been and continues to be strong. It's projected that Seattle will grow by about 1,000,000 people by 2020 and by a mere 100,000 by 2010. Housing inventories while they have increased since October of 2007 are still by all accounts pretty low. Mortgage rates are still at historic lows. Marketing times have increase by about 300% from about 20 days to over 60 … (2 comments)
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