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first time home buyer: Short Sale or Foreclosure? - 04/24/11 07:01 PM
Success doesn't matter! What matters is how you deal with the events that surround your situation when you own a home and a mortgage. Life Happens!
There is a huge difference between these two. Read more
Foreclosure

Short Sale
 
 
 
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first time home buyer: FHA Changes April 18th 2011 - Increase in Mortgage Insurance Premium - Again! - 02/21/11 03:32 AM
Another change is coming and it is going to become more expensive to borrow when a home buyer is looking to finance with a FHA mortgage.
The administration recently announced increases to the insurance premiums that the Federal Housing Administration (FHA) charges. FHA is the dominant loan program in the marketplace today.  The FHA has two types of Mortgage Insurance Premiums - Up Front Mortgage Insurance Premium (UFMIP) and the  Monthly Mortgage Insurance Premium (MMIP). Let's see how these impact a borrower's ability to purchase.
UFMIP is typically added to the loan amount and financed over the term of the loan. MMIP is part of the … (3 comments)

first time home buyer: Short Sales - Why do some agents submit muliple offers to the bank? - 07/03/10 11:15 PM
 Big question....Why do some agents list a home 100,000.00 dollars under market from what is showing that the average home in the neighborhood is comping out at?They then have a home seriously under everyone elses and keep home on the market as active when they recieve multiple offers and send to the bank / lien holder?I just ran into this today they have 6 offers on a home that was submitted to the bank - this is crazy!Attending many REO, BPO, and short sale training events, classes and webinars that are hosted by FNMA,  FREDDIE MAC & large 3rd party providers … (5 comments)

first time home buyer: New Bill being proposed by U.S. Congresswoman Maxine Waters H.R. 5072 - 04/30/10 06:20 PM
All,
This new proposed bill caled H.R. 5072 that is being created / endorsed by U.S. Conresswoman Maxine Waters, we need all to write your local representatives to stop this Bill H.R.5072. This bill is looking to increase FHA mortgage insurance from the now .55% monthly mortgage insurance to an outrageous 1.55% per month monthly mortgage insurance.
The impact of this Bill H.R. 5072 will be so costly to the new First Time Home Buyer or anyone that is looking to refinance that even if the rates are low by having this new increased mortgage insurance is like increasing the interest … (0 comments)

 
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Margo Christophilis

Seattle, WA

More about me…

SeattleMargo.com - Horizon Real Estate

Address: 7900 Green Lake Drive North Suite # 212, Short Sale in Seattle, Seattle, WA, 98103

Office Phone: (206) 963-5525

Cell Phone: (206) 963-5525

Email Me

Seattle home value, buy now before you are priced out. Inventory is being snapped up quickly - here is why! Want to Buy a House? It's Like 1995 all Over Again! Why is this such a great time to own a home? This is the perfect storm if you are currently renting, what makes the perfect storm for a renter – home values have declined to a price point that is close to 2003, and with the mortgage rates at serious historical lows the buying power you have to own a home is like you just purchased in 1995. Home values in the Green Lake – Seattle, WA area for a home that is of a normal 3 bedroom 1.5 bath home with roughly 1600 square feet in 1995 depending on the exact location you would have paid 165,000.00 – 205,000.00. In today’s market of Jan. 2012 you will spend around 285,000.00 – 435,000.00, again depending on exact locations. So if you are a renter – this is the perfect storm: 1.Home Values Down 2.Mortgage Rates at all-time lows 3.Housing Supply – lots to choose from 4.Buyer’s Market – so you now can shop around and sellers will negotiate terms, price and incentives. See Historical Chart for Mortgages for the Year 1995: 1995 30 Year FRM 15 Year FRM 1 Year ARM January 9.15 8.80 6.82 February 8.83 8.46 6.67 March 8.46 8.06 6.45 April 8.32 7.88 6.35 May 7.96 7.51 6.13 June 7.57 7.06 5.87 July 7.61 7.09 5.83 August 7.86 7.36 5.93 September 7.64 7.16 5.81 October 7.48 7.01 5.74 November 7.38 6.89 5.64 December 7.20 6.74 5.57 Based on the buying power of today’s interest rates you effectively are able to purchase your home as if it was 1995! Answer these questions! •·What was the popular song in Jan. 1995? •·Who won the Super Bowl on Jan. 29th 1995? •·What Bombshell Beauty Married on Feb. 18th to a motley Rocker? See how time goes fast and looking forward where will you be in 17 years? Here is a great artical from Paul Muolo who wrote a post about buying a home like it was 2003. •Mortgage Rates •Read more


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