| |
foreclosure: Home Values - Consumers believe home values dropping - 05/15/11 02:35 PM
One in four Americans says their home is worth less than what they paid, says CNBC Jane Wells. The same number believes their home value will drop even more in the next year.
More double dip? Will home values continue down? Read more
This is a very real feeling that most home owners are realizing says Jane Wells.
… (0 comments)
|
foreclosure: A Tale of Two Tales – Loving Home to Foreclosure in Seattle - 04/26/11 03:28 AM
Just a quick story on a recent home I listed -
Homeowners that have contacted the bank(s) and they have a true factual hardship - a young daughter becomes terminal, they go through all this difficult process of going to specialists, doctor after doctor, bills are mounting, hubby working day and night, they do everything they can trying not to have a late payment on their bills, mortgage and car loans, they are exhausted, struggling, calling in favors from family, friends and even local community support.
Well they make the dreaded call - they tell the bank what is happening and … (3 comments)
|
foreclosure: 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
… (2 comments)
|
foreclosure: Home in Foreclosure - need help with money? Adzookie - What? - 04/21/11 02:41 PM
Homeowner's that are having a hard time in this tough economy and are not able to meet paying their mortgage payments - well, we came across a very interesting idea and article called Adzookie. We at the Seattle Real Estate News and Seattle Margo wanted to get this out ASAP! Get to their website and fill out their form! They will assist you with help on your mortgage payment. Read more - CLICK HERE
… (0 comments)
|
foreclosure: More Trouble for Foreclosures Banks in Trouble- Short Sales Way to Go! - 01/07/11 06:19 PM
With the new ruling that has happened in Massachusetts, the banks, Wells Fargo & US Bank will have their hands full as 2 specific cases were ruled in favor of the home owner as the banks needed to prove they were the owners of the mortgage and not just the servicer at the time of foreclosure.
Wells Fargo and U.S. Bancorp lacked authority to foreclose after having "failed to make the required showing that they were the holders of the mortgages at the time of foreclosure," Justice Ralph Gants wrote for the Massachusetts court. In a concurring opinion, Justice Robert Cordy … (0 comments)
|
foreclosure: Short Sale & Closing Costs - 06/06/10 03:15 PM
Having done many short sales and alot of training, I am finding that only on certain types of loans will the lender pay closing costs. For example if the short sale is a FHA loan and the new buyer is using conventional financing then there will be no closing cost paid, but if new buyer is using FHA financing then they will allow only 1% to be paid for closing costs per HUD. Live near South Lake Stevens … (0 comments)
|
foreclosure: One West Bank - Short Sale with a happy story ending! - 04/26/10 05:40 PM
Well Folks,Believe it or not - One West Bank actually allowed a Short Sale on one of our transactions! Amazing thing is that Bank of America moved rather quickly and One West Bank dragged their feet so long that it was right down to the wire for auction time..... but they finally came through. At the end of the deal they ( One West ) were out alot of money on the short payoff.The Seller was happy this did not go to foreclosure and the buyer was so thankful... they waited for almost 6 months for them to finally approve it … (3 comments)
|
foreclosure: Short Sale - Success Story and why I love taking them on! - 04/19/10 08:19 PM
In most cases people hear the word short sale and they run in the other direction. Not me I take them on and make things happen.
What an opening statement....I just wanted to get every ones attention.
I hear different things from agents all the time. It takes too long to get paid, they never close, banks are hard to deal with. When agents call me and they are not interseted in taking them on they ask if I will call their client, friend, or family member and help them through this emotional time, by referring their clientele they can receive a … (2 comments)
|
foreclosure: IRS 982 Ruling for Insolvency - HELP! - 04/15/10 01:55 AM
I was asked a question recently about if a property goes to foreclosure and it is an investment property, as the property was owned for over a 1 year period and the seller tried to do a short sale. The seller sent in the offer to the bank and the bank actually took it to foreclosure.Our offer was 13,000.00 over minimum opening bid... confused why they took it to foreclosure because they sold it for 85,000.00 less than opening bid as an REO.Sellers question to me was now that I have received a 1099A and it is showing a 135,000.00 1099 … (0 comments)
|
|
|
|
|
|
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
 Listings
Links
Archives
|
;)
;)
;)
