affordability: Tax-Friendly Cities: It's not what you earn, it's what you get to keep - 04/07/09 10:10 AM
According to a recent Kiplinger article, taxes play a significant role in deciding where to dig in your roots and call home (in addition to housing costs and living expenses). They have put together a list of U.S. cities with the lowest state and local tax burdens (as a percentage of gross income). And wouldn't you know it, Seattle made the list!

No. 4 Seattle, Washington
Income tax: $0Property tax: $1,698Sales tax: $1,561Auto tax: $457 STATE & LOCAL TAX BURDEN: 5.0%
Urban Facts: Seattle may be a tax-friendly city, but it also has a high cost of living, well above … (2 comments)

affordability: How Low Can We Go? - 03/19/09 12:20 PM
It's no news that we are in a down market. Home prices are falling in most parts of the country. Even here in Seattle, a place that was thought to be relatively safe from the housing mess, we too are feeling the pain of continuing falling prices.
It could have been much worse though. Local developers avoided the huge glut that Florida and other markets experienced because they moved quickly to put a hold on new projects. There have been no new project developments in over 18 months in the Seattle area.
Even so, there is no getting around the tough times ahead. … (3 comments)

affordability: Real Estate Experts Say 2009 is the Year to Buy - 02/09/09 01:07 PM
According to a recent article by Amy Hoek of Market Watch- Wall Street Journal, industry experts are saying that 2009 is a great year to buy and invest in real estate. Jay Papasan, author of Your First Home offered 5 reasons why this is true;
Affordability is better than ever- Prices may still be above average in many areas but they have certainly gone down. In fact, in the King County area, home prices have "retreated to its lowest level since September 2005" (http://seattlepi.nwsource.com/local/398737_housing05.html). You have a large inventory to choose from- Sellers want to sell and they want anyone interested in their … (3 comments)

affordability: Housing stats imply its time to buy - 12/08/08 06:00 PM
According to a recent report from Global Insight, an economic and financial analysis forecasting firm, current housing statistics indicate that now is the right to time to buy.
They claim that the U.S. housing market as a whole is undervalued by 3.8 percent. Global Insight analyzed 330 metropolitan areas in the United States and found that 241 metro areas experienced price declines in the third quarter of 2008 in comparison to 150 metro areas in the second quarter (http:www.globalinsight.com/PressRelease/PressReleaseDetail15180.htm)
The markets that were hardest hit were in areas that were most overvalued three years ago. This study, a combined effort … (2 comments)

affordability: The Fed's Rate Rescue - 11/25/08 03:37 PM
The Federal Reserve just threw a massive life-line to consumers today, with new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards.
Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac and the Federal Home Loan Banks. It will also buy up to $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae. Doing so should increase credit availability and lower fixed mortgage rates.

As a result of the Fed's new programs, rates … (2 comments)

affordability: Lessons to be learned from Joe Sixpack - 11/24/08 04:33 PM
This morning I was doing my usual daily routine, which is; 1.) research my market for any new properties, pendings, solds, etc.. and 2.) check up on the latest real estate news headlines from local papers and from real estate bloggers. Another local real estate agent, Ardell DellaLoggia, put out an article highlighting one of the many short sale/ foreclosure scenarios facing some Americans these days.
Rewind to early 2006, Joe and his growing family felt ready to move forward in their lives and take the step to buy their first home. He met with a local real estate agent and lender to discuss … (1 comments)

affordability: Deceiving Headlines about Seattle Real Estate Market - 11/11/08 03:45 PM
As a real estate agent, I realize that you may not believe me when I say that, "now is a great time to buy," but it truly is! You may not be hearing this from your local news station or paper but that's because the media highlights and even exaggerates the fear causing negatives. It's about time we learned most news programming and most printed news is just an extension of Hollywood style entertainment. Now they are embattled for their very existence because the web has already eaten massive numbers of subscribers and advertisers. They calculate, with good experience, if they … (0 comments)

affordability: What Do Homes Rent For in Shoreline, WA? - 11/05/08 03:53 PM
Whether you are looking to buy or trying to sell.. we all end up dealing with a rental situation. I remember my first place. It was a 450 square foot, Lake City area rental. It was very cozy to say the least :)
I have recently done some rental searches for some clients and found out some interesting information you might find interesting.
There are some homes in the Shoreline area going for between just under $200,000 to $275,000. I did some math and calculated that with a modest down payment of 5%, the monthly mortgage payments wouldn't be too much higher … (0 comments)

affordability: Facts, Statistics, and Charts, OH MY! - 10/30/08 02:07 PM
The cats out of the bag- our market has shifted. So have home loans and the way people select their mortgages.
David Berson, Chief Economist & Strategist of the PMI Group, put together a report about home loans and the many changes taking place due to the unprecedented turmoil in the housing and mortgage finance markets. He points out that there are 2 emerging trends in the purchasing of home loans;
1.) There are more government insured home loans being used to finance home purchases as compared to conventional loans that used to dominate the market,
2.) And instead of adjustable rate mortgages … (1 comments)

affordability: Buyer and Seller Reality Check - 10/23/08 03:56 PM
In the last few weeks I have seen a plethora of mis-information from clients and fellow agents alike. Dismal news reports make even the most optimistic agents cower with fear. I am not going to BS around the issue- this market has it's challenges, but the Egerer & Weidauer Team is facing them head on. Here are some solutions to the many problems we are facing in today's real estate market:
MIS-INFORMATION ABOUT HOME LOANS-
There is no shortage of money for home loans and no freezing of credit to purchase or refinance. Mortgages are readily available to those who qualify. … (3 comments)

affordability: Silver Lining for Seattle's Housing Market - 10/22/08 04:42 PM
The Seattle PI put out an article that paints a pretty grim picture of Seattle new construction and housing at this very moment, but also mentions that in the coming years demand will be back up and so will the prices.
"[With] builders focused on selling the homes they have, rather than developing new ones, Seattle is headed for a serious shortage that could bring a return to double-digit price appreciation starting in 2012, according to one local analyst."
Because of the recent financial debacles and consumer confidence at all time lows, homes are not selling like they used to. Builders are being hit hard and are just … (1 comments)

affordability: Your First Home- The Proven Path to Home Ownership - 10/16/08 12:38 PM
The financial news we hear every day seems to have gotten to a lot of would-be home buyers. I hear from some of them that the market conditions are just too bad for them to proceed... but that's just not true!
Right now is quite possibly the best time to get into the market, if you are financially and emotionally ready for it. With low rates, low prices, low costs, and decreasing inventory -- the real estate market is ripe for the pickin' and ready for those smart buyers to act now. To find out home much home you can afford, check out this home affordability … (3 comments)

affordability: "We're Movin' on Up... - 10/15/08 03:56 PM
... To a deluxe apartment in the sky, We're movin' on up! We've finally got a piece of the pie!"
Like George and Louise Jefferson, you too might be ready to move up on to your deluxe apartment, town home, or house.
So you've just got married, or had kids, you're taking care of your parents, or you just won the lottery. Whatever the reason, you've outgrown your home and want to trade up in size, location, luxury and/or amenities. It's time to find a new place.
Just like when you bought your first home, you need to evaluate your situation and crunch … (1 comments)

affordability: Killer Deals in Shoreline, WA - 10/14/08 02:00 PM
I just scored a killer deal for a buyer. Take a look at this beauty-
 
Seattle's FIRST and ONLY Waterfront Townhomes!Shoreline, WA - Leave the city behind... Stunning views and easy access to Echo Lake!  Quality new construction townhomes with first class features and amenities.  You'll be dazzled by the uniqueness of this serene enclave in North Seattle.  With easy access to I-5 and Hwy 99, you can enjoy the best of both worlds with a 15 minute or less drive to downtown Seattle!
Highlights
· Oversized Attached Garages
· Lake Access and VIEWS!
· Beech Hardwood Floors
· Stained Alder Cabinets
· Designer Carpet and Fixtures
· Easy to … (0 comments)

affordability: Make Your Move - 10/08/08 02:05 PM
When they called today's real estate market a "shifting market," they were right on target. It keeps shifting, and shifting, and shifting ... Every time we turn on the news there's a new development that affects our economy and therefore the ability of buyers to "buy" and the sellers to "sell." But here is some good news for Seattle area would-be home buyers and sellers. Pending sales rose 4.1 percent from a year ago. (http://www.nwrealestate.com/nwrpub/common/news.cfm) Mike Welty of Liberty Financial Group in Bellevue said, "Forget the news. Mortgage loans are readily available, at excellent rates and you can still get 97 percent loan to value". "There … (1 comments)

affordability: Have we hit bottom yet!?! - 10/02/08 04:07 PM
In cities like Atlanta, Boston, Dallas, Denver, and Minneapolis, people are already starting to see home prices show positive or flat return. 'So, have we hit bottom yet?'  Not according to the chairman of the index committee at S&P. The S&P/Case-Shiller's 20-city housing index showed a 16.3% drop from last year. "However, the pace of monthly declines is slowing, a possible silver lining"  (http://money.cnn.com/2008/09/30/real_estate/Prices_plunge.ap/index.htm).
" 'While there is no national turnaround in residential real estate prices, it is possible that we are seeing some regions struggling to come back, which has resulted in some moderation in price declines at the national level.' … (5 comments)

affordability: Cleaning up the Mess and Consumer Confidence - 09/30/08 12:57 PM
At the heart of the current shift we are experiencing is affordability. At the height of the boom, homes and mortgages were given to anyone who could fog a mirror, regardless of whether or not they could afford it. Many of those people are now feeling the pain of the debt they took on that has fueled the short sale and foreclosure crises (also leading to the banking failures).What needs to happen is sales. That is easier said than done, I realize, but that will for sure help jump start our economy. If consumers had more confidence in the economy and … (1 comments)

affordability: When blood is running in the streets... - 09/22/08 02:57 PM
...that is when to buy!
Here is a blog from a fellow Active Rain-er from South Carolina. She says that if you are in the position to, that now is the time to invest in this real estate market and make a pretty penny doing so.
 "BUY REAL ESTATE NOW!!! By: Mirela Monte, Your Myrtle Beach Connection"
'Burger King did it, and so did many others.   It seems like a good strategy:  watch what the big boys are doing and just copy them to ensure success.
Just what are the big boys doing right now?  I don't know about your clients, … (2 comments)

affordability: Shoreline, Washington Market Update- Spotlight on Meridian Park - 09/17/08 04:19 PM
Meridian Park is a neighborhood in Shoreline, WA, a suburb of Seattle, just off of Interstate-5. The neighborhood is very open and friendly neighbors can be seen power walking down the streets with their dog in toe.
As far as real estate goes, things are moving along just fine. Within the last month, 3 homes have sold, 1 went to a pending status, and there are still 5 active and ready to be purchased. The median listing price is $368,356 and the median sales price is $379,667. The average days on market for homes in the area is 99 days.
In all of … (0 comments)

affordability: We're in the eye of the hurricane - 09/13/08 07:10 PM
We are in a down real estate market. I said it! Things have shifted and it's taking a little bit longer for houses to sell. The good thing is that they are still selling!
The law of equilibrium will bring us back to an up market sooner or later. Just imagine a golf swing. The club goes back slow but then does a great BIG swing. When the market will shift is up in the air but until then we need to roll with the punches of this market.
A lot of things have led us to this point. Instead of … (0 comments)

 

Nicole Weidauer

Shoreline, WA

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Keller Williams Greater Seattle

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Cell Phone: (206) 661-7256

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