Make $58,323? You qualify for Seattle-area home
How much income does a Seattle-Tacoma-Bellevue area homebuyer need to purchase the median- priced home of $265,400?14 years ago
Foreclosure option: Short-sale pace growing
The number of short sales grew steadily through the end of 2011 and is expected to continue to grow in 2012. The National Association of Realtors research department estimates that the number of short sales in the United States will increase by 9.2 percent in 2012 to approximately 546,500. This trend will continue a shift […]14 years ago
Mortgages still too difficult to obtain – Bernanke
Even creditworthy borrowers are finding it difficult to get a mortgage nowadays and it’s unlikely banks will ease their standards anytime soon, according to Ben Bernanke, chairman of the Federal Reserve. “A return to pre-crisis lending standards wouldn’t be appropriate,” Bernanke said in referencing how banks prior to the housing crisis were issuing mortgages with […]14 years ago
Consumer bureau takes aim at loan origination fees
The Consumer Financial Protection Bureau plans to issue new rules that would limit certain fees that lenders require consumers to pay when they purchase a home. Among these fees the agency hopes to ban would be a fee sometimes referred to as “origination points” that buyers pay at closing. The agency is proposing a ban […]14 years ago
Tom Kelly: Renters need insurance reminders, coverage
There’s no doubt that the average person significantly undervalues his or her belongings. People are simply worth more than they think they are. Go to your closet. There’s probably very little hanging in there that’s worth less than $30. When you consider a few business suits, a heavy winter coat or two, wool sweaters from […]14 years ago
Lenders need to widen customer pool, study suggests
A new study estimates that 17.3 million prospects for new mortgages are being overlooked by lenders. Many of these prospects hold little credit history and, therefore, may be viewed as a risk to some lenders in making a loan. Experian, a credit analytics provider, notes that lenders will need to widen their market base if […]14 years ago
Fiserv home forecast calls for 4 percent annual increases
Have home prices finally hit bottom? Some analysts think so. According to the latest forecast by Fiserv, the market watcher sees a big boost to home prices on the horizon, projecting that home prices will rise nearly 4 percent per year for the next five years. The real estate markets expected to see the biggest […]14 years ago
DOJ weighs fair-lending claims against Wells Fargo
The U.S. Department of Justice is investigating Wells Fargo, the largest mortgage servicer, over allegations that the bank may have discriminated against minority homebuyers by offering them risky loans when they qualified for more traditional, safer loans. Wells Fargo has called the charges unjustified and says the bank has complied with fair lending laws. Officials […]14 years ago
Tom Kelly: Many older owners will have to age in place
While aging in place - including home maintenance, medical costs and property taxes - will be the primary reason for seniors' tapping into home equity for decades to come, there are many other underestimated needs and wants that will quickly race to the front burner once a greater number of consumers better understand reverse mortgages.14 years ago
BofA contacts customers about reducing loan amounts
Bank of America has mailed letters to more than 200,000 mortgage borrowers for potential principal reduction under the robo-signing settlement, Housing Wire reported. The deal with the 49 state attorneys general and the five largest mortgage servicers was approved in March. It requires BofA to provide $11 billion in relief and fines for past foreclosure […]14 years ago
Bathrooms replace kitchens as top remodeling jobs
A new survey released by the National Association of Home Builders (NAHB) shows common remodeling projects have increased, compared to a similar survey from 2010.14 years ago
Wells Fargo taking bigger piece of mortgage pie
Wells Fargo, the nation’s largest lender for home loans, is continuing to grow its mortgage business, issuing a record 33.9 percent of mortgages in the first quarter. Other lenders now remain even further from reaching Wells Fargo’s mortgage totals. JPMorgan Chase & Co. has the second-highest market share of mortgages, but at 10.6 percent, it’s […]14 years ago
Top three overlooked aspects when buying a home
A recent article at U.S. News & World Report lists tips for those often-forgotten aspects of home ownership.14 years ago
Second-home buyers tend to stay closer to home
Bargain home prices have jump-started sales on second homes, but more purchasers are opting to buy properties much closer to their primary residence. In the past, second-home buyers tended to buy properties out-of-state or were lured to vacation homes near far-flung resorts and tourist destinations. But second-home purchases these days seem to be more restrained, […]14 years ago
Demand trumps supply: Seattle home prices finally rise
Tight inventory for single-family homes is creating sellers' markets in some Puget Sound areas, according to April reports from the Northwest Multiple Listing Service . For the first time in more than four years (since January 2008) the year-over-year change in selling prices was positive.
14 years ago
Lawmakers push federal agency for loan reduction plan
Two Democratic lawmakers are claiming that the Federal Housing Finance Agency failed to roll out a nationwide mortgage reduction principal plan for underwater homeowners even though a pilot program the agency did two years ago showed that it could significantly trim taxpayers’ costs. Two House members – Reps. Elijah Cummins, D-Md., and John Tierney, D-Mass. […]14 years ago
On the move: Companies plan more job relocations
After a slowdown in corporate moves the past few years, more companies are planning to get their employees moving, according to a new survey. An overwhelming number of employees who declined a move did so because of housing and mortgage concerns. Twenty-six percent of companies plan to relocate more workers this year than last year, […]14 years ago
Investors pushing up prices of bank-owned properties
REO prices have risen 5.5 percent over the past year, whereas market sales prices have fallen 2.9 percent, Clear Capital reports in its April housing data index. REO (real estate owned) typically are foreclosures or distressed properties taken back by banks and other lending institutions. Since they are viewed as non-performing assets, banks are eager […]14 years ago
Economy compounds condo rental cap issue
More home sellers in recent years have considered the role of landlord, waiting to sell their home until the market picks up or seeing profit in renting. But for condo owners, renting out their homes isn’t always easy. More buildings have instituted new caps to prevent too many homeowners from renting out their place. While […]14 years ago
Seattle ranked No.7 on Forbes’ ‘fastest growing’ list
Seattle ranked seventh on the list while Austin, Texas, topped Forbes' list of America's fastest- growing cities for the second year in a row.14 years ago
Bidding wars catching local homebuyers off-guard
Homebuyers are unexpectedly finding more competition this spring in landing their dream home. Bidding wars are increasingly being reported in markets across the country, including Seattle, The Wall Street Journal reports. “It’s a little surprising because we thought bidding wars were done with,” Andy Aley, a Seattle home shopper told The Wall Street Journal. Aley […]14 years ago
Whidbey Island builder wins national ‘green’ award
TC Legend Homes/Zero-Energy Plans LLC of Whidbey Island was named a winner in the National Green Building Awards by the National Association of Home Builders (NAHB). The Coupeville-based company was honored for its single-family concept and research at the 14th annual National Green Building Conference held in Nashville, Tenn. “These awards recognize the best and […]14 years ago
