Joe LaVallie's (joelava) Blog

Welcome to the ABC's of APR. The propose of the annual percentage rate is to help borrower shop for mortgages. It does not work for most people and you should not use APR rates to shop for mortgages. DO NOT USE APR RATES FOR SHOPPING FOR MORTGAGES. Is everyone with me? The APR rate is one of the ...

The same old supply and demand equal higher prices is very true for new homes. The best deal that you will find in the foreseeable future may be the house you find today. Mortgage rates are lower than low and new home prices have not responded YET. The July housing starts were a little over 500k....

Is the housing market improving to much? Are first time home-buyers going to get priced out of the market? The "Improving Market Index" is published. This report identifies markets that are improving based on economic growth. This survey looks for local economic growth. If there is growth then it...

Shopping for a mortgage without killing your credit score is actually easy. Inquiries on your credit have a small impact relative to the overall credit score. The most important factor in your credit score is your payment history. The most basic factor in your credit is how you have paid your bil...

Has the Seattle market hit bottom? Has your market hit bottom? According to multiple surveys, during the first part of the year single family home prices increased in 150 metropolitan housing markets compared to the first quarter of the previous year. Additionally, many forecasting models predict...

Why should you follow builder predictions in Seattle or your local market? Because they are usually more accurate than other predictors. In the past, builders have been very good at predicting the number of future sales. If we see a rise in the confidence level of builders; that is usually a sign...

What do preliminary title reports in Seattle include and should I pay attention to it? Yes you should! Your report will contain the following information: The names of the buyers and sellers, what coverage will be issued, the "official" legal description of the property, existing loans, judgments...

How does house payments in Seattle and buying a house coordinate? What we are really asking is "how expensive of a house can I buy?" Lenders use two types of ratios to determine your maximum purchase price. There is the front end ratio and the back end ratio. The front end ratio is the percentage...

What you need to know about Financing and Refinancing in Seattle. Financing is the process of borrowing money to pay for a house. Refinancing is when you replace your existing financing with new financing. In most instances, refinancing a loan is subject to the same guidelines as the initial loan...

Short Sale: What buyers need to know in Seattle is an over view of the short sale process. The most important factor in the short sale process is your need to close on a house. If you need to close quickly or on a specific date a short sale may not be for you. Your actual mileage may vary. When c...