Former MyNorthwest.com Content Contributor

Tom Kelly

Tom Kelly was formerly a Content Contributor to MyNorthwest.com.

Rising material costs curb builder confidence

An index that measures homebuilder confidence dropped in April, largely attributed to the increasing costs of building materials, concerns about the lack of supply of developed lots, and labor shortage, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

14 years ago

Single women over 45 make up huge buyer segment

Single women make up the second largest segment of home purchases, with one out of every five homes purchases by a single woman, according to the National Association of Realtors.

14 years ago

Refinance program extended for ‘underwater’ borrowers

The Home Affordable Refinance Program - a government refinancing program for underwater homeowners - will be expanded for another two years, the Federal Housing Finance Agency announced.

14 years ago

Facing foreclosure? Average repossession takes 477 days

Foreclosures are taking longer to complete, with the average time it takes a lender to repossess a home jumping to 477 days in the first quarter of this year compared to 414 days in the fourth quarter of 2012, RealtyTrac reported in its March foreclosure report.

14 years ago

Jobs report sends mortgage rates near record lows

The average 30-year fixed-rate mortgage dropped to 3.43 percent this week from 3.54 a week ago, hovering near the 65-year record low of 3.31 percent, according to Freddie Mac.

14 years ago

Payments begin on $3.6 billion foreclosure settlement

About 4.2 million eligible homeowners who underwent foreclosure in 2009 and 2010 will start receiving cash payments ranging from $300 to $125,000.

14 years ago

Mortgage Professor: ‘Time to act on reverse mortgage’

If you are a senior who has been contemplating a reverse mortgage, this may be the time to act, according to Jack Guttentag, professor emeritus of finance at the Wharton School of the University of Pennsylvania and one the nation's premier mortgage analysts.

14 years ago

Answer to tight lending not FHA cutbacks – builders

With tight mortgage lending standards preventing well-qualified homebuyers from obtaining home loans, the National Association of Home Builders is urging lawmakers to proceed in a cautious manner when considering cutbacks to the Federal Housing Administration.

14 years ago

Rising student debt delaying first-time purchase

One-third of student loan borrowers are delinquent on their debt, according to the Federal Reserve report. This will impact their credit rating and possibly keep them out of the mortgage market much longer.

14 years ago

Bidding wars on the rise in Seattle neighborhoods

With tighter inventories of homes for sale, Puget Sound area buyers are finding increased competition through bidding wars.

14 years ago

Mortgage insurers fined over alleged kickbacks

The Consumer Financial Protection Bureau has fined four of the nation's largest mortgage insurance providers for alleged kickbacks to lenders in order to win more business, a practice the agency says has been going on for more than a decade.

14 years ago

‘Boomerang buyers’ become a growing force

These "boomerang buyers" who defaulted or sold via a short sale in 2007 through 2012 will return as potential owners and number 500,000 a year in 2013 through 2016, according to John Burns Real Estate Consulting.

14 years ago

First-time buyers hold key to spring-summer activity

First-time home buyers represented the fastest growing segment of home purchasers for January and February and will prove critical in 2013's traditional buying season, according to the latest Campbell/Inside Mortgage survey.

14 years ago

Will the ‘Great Senior Sell-Off’ have buyers?

About 1.5 to 2 million homes belonging to seniors will come on the market by the end of this decade, predicts Arthur C. Nelson, professor of urban planning at the University of Utah.

14 years ago

Bremerton takes a step to curb ‘zombie’ homes

A new study finds that 301,874 "zombie" homes exist in the U.S.-properties where home owners receive foreclosure notices and move out, leaving the home vacant, deteriorating and a target for squatters.

14 years ago

New loan program takes heat for encouraging defaults

The Federal Housing Finance Agency is rolling out a new program designed to help more borrowers reduce their monthly mortgage payments.

14 years ago

Price-earnings ratio – for investment homes?

When analysts look at stocks, they often focus on the price-earnings ratio as a measure of whether the stock is overvalued or undervalued. The higher the number (especially relative to either the market as a whole or to historical averages), the more likely the stock is to decline in price over time.

14 years ago

Seattle among top cities for new college grads

Rent.com, a rental housing listing site, recently ranked the top 25 markets for new college grads, factoring in unemployment, cost of living, and annual mean wages.

14 years ago

’50 Shades of Grey’ penthouse sells for $6.2 million

A Belltown high-rise penthouse, that's also the fictional home of billionaire Christian Grey in the hugely popular book series "Fifty Shades of Grey," has just sold for $6.2 million.
14 years ago

Two seconds: First online impression proves critical

Researcher Michael Seiler tracked the eye movements of 45 people viewing 10 online real estate listings and determined that 95 percent of participants viewed the first photo-an exterior property shot-for just 20 seconds.

14 years ago

Home-loan rates see-saw lower

After rising last week, the 30-year fixed-rate mortgage reversed course and inched back down this week, according to the Freddie Mac weekly mortgage market survey.

14 years ago

‘Living near a bus line’ can bring value

Data in the study reveals that during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service.

14 years ago

Windermere launches drive-time tool on its website

Windermere Real Estate has introduced a tool on its website that takes the guess work out of one of the most important purchase criteria when considering a new home - how long it will take home buyers to drive to and from work.

14 years ago

Selling in one day: Seattle ranks 14 in Redfin poll

Seattle-based Redfin, a real estate brokerage, recently analyzed multiple listing service and additional housing data to reveal which metros are seeing some of the fastest home sales.

14 years ago