Feds warn of mortgage grant assistance scam
The Office of the Comptroller of the Currency (OCC) is warning homeowners facing foreclosure of an up-front-fee scam promising $10,000 in grant assistance. A group using the names “855LAW5559” and “National Legal Help” has misrepresented that the OCC has directed them to send foreclosure grant review correspondence to consumers. The OCC has no knowledge of […]15 years ago
Can you still qualify? The impact of rising rates
Mortgage rates have begun to rise and economists expect the upward movement to continue. From the 3.9 to 4.0 percent average rate in the past five months on a 30-year fixed mortgage, the new rates will soon be in the range of 4.3 to 4.6 percent, according to Lawrence Yun, chief economist for the National […]15 years ago
Stuck in an early hole: Student debt impedes lending
The rising amount of student loan debt is a startling figure. But probably more startling is the effect it could have on the overall economy, Housing Wire reports. “We should all be concerned about young Americans burdened by excessive student loan debt,” said Rohit Chopra, the student loan ombudsman, at the Consumer Financial Protection Bureau. […]15 years ago
Mortgage settlement could spark more scams
The recent announcement of the $25 million mortgage settlement between five major banks and state and federal government officials was probably welcome news to many people in the real estate business. But it has at least one downside: It will probably cause a rise in scams targeting borrowers seeking assistance. Currently, between $4 billion and […]15 years ago
Zillow introduces new rental index for major metros
Seattle-based Zillow launched a rental index similar to its "Zestimates" for single-family home values.15 years ago
Four of 19 largest banks fail ‘stress’ test
Four of the country’s 19 largest banks do not have enough capital to withstand another economic downturn – if one occurs – according to the Federal Reserve’s latest stress test for banks. The four banks at risk named in the report are Citigroup, SunTrust, Ally Financial, and MetLife. The hypothetical stress test, conducted annually by […]15 years ago
New study shows state foreclosure sales down 7 percent
Nevada has long held the No. 1 spot for the most foreclosures in the nation. And while it still does, a dramatic shift is taking place in the state. Foreclosure sales dropped 40 percent in February in Nevada, according to foreclosure data of western states by ForeclosureRadar. Other western states hard-hit by foreclosures are also […]15 years ago
Mobile tools become more important in home searches
Smartphones and tablets are being increasingly important tools that home buyers are relying on in their home search, according to a new survey from The Real Estate Book and RealEstateBook.com. The survey shows that 68 percent of mobile users contacted a real estate professional to schedule a showing based on their mobile search. What’s more, […]15 years ago
Tom Kelly: We bought the home of a murderer
We once bought a large family home in Seattle’s Madrona neighborhood where a woman shot and killed her husband in front of the living room fireplace. Should we have been told of the crime before buying? Had other activities been carried on there that might have influenced our decision to purchase? In a recent column, […]15 years ago
Latino households playing greater role in housing picture
The Latino population is becoming a growing force in the housing market with the demographic’s purchasing power more than doubling over the past decade, according to a new report by the National Association of Hispanic Real Estate Professionals called “The State of Hispanic Home Ownership 2011.” The purchasing power of Latinos grew to $1.1 trillion […]15 years ago
Unlike Seattle, A-Rod scores with N.Y. view condo
Alex Rodriquez did not purchase a home in the Puget Sound area during in his years with the Seattle Mariners. While there were many sightings of the star shortstop in different neighborhoods, he typically rented during the baseball months at the Harbor Steps, a high-rise apartment complex near the Seattle waterfront.15 years ago
More retirees opting to stay closer to home
Traditionally when Americans retired, they would make big cross-country moves or head south to the sun.15 years ago
Home purchase, improvements top consumer wish list
Fifty-one percent of Americans in a recent poll say that if their financial situation were to improve, they’d buy a home. Coming in second on the list of wishes, they’d make repairs or improvements to the home they already have, according to the poll of more than 1,400 Americans conducted by the National Foundation for […]15 years ago
State issues consumer warning for ‘loan mod’ company
The Washington State Department of Financial Institutions (DFI) has issued a warning to consumers regarding a loan modification company requiring an up-front fee for its services. In addition, California-based Platinum Acceptance Corp is not registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State. Washington State law […]15 years ago
Ready to buy? Housing affordability hits record level
Low mortgage rates and falling home values have brought housing within reach to more families than ever before, according to the latest National Association Realtors housing affordability index. Housing affordability in January reached its highest level since NAR began tracking it in 1970. The index – which tracks median home price, median family income, and […]15 years ago
Condo, apartment building continues to improve
The Multifamily Production Index (MPI), a leading indicator for the multifamily market released by the National Association of Home Builders (NAHB), showed steady improvement in the apartment and condominium housing market for a sixth consecutive quarter. The MPI, which measures builder and developer sentiment about current conditions in the multifamily market on a scale of […]15 years ago
5 ways for sellers to lure more buyers
While all real estate is local, pricing your home realistically in any market will most certainly get more potential buyers through the door. But how do you get prospects to take the critical next step: Fall in love with the home? A recent article in U.S. News & World Report offers tips from experts around […]15 years ago
Tom Kelly: Relief plan does not achieve long-term goal
While the two steps outlined yesterday in President Obama’s housing relief plan look great on the surface, one of them does nothing toward accomplishing the long-term goal of decreasing the federal government’s role in housing. In a capsule, the fact sheet announced new steps to help homeowners – reduce refinance fees on FHA loans, and […]15 years ago
Builder group floats plan to replace Fannie, Freddie
The National Association of Home Builders (NAHB) announced a new comprehensive framework for housing finance system reform that would transition Fannie Mae and Freddie Mac to a new mortgage securitization system for single-family and multifamily conventional mortgages.
15 years ago
Agents race to embrace digital tools, Imprev data shows
While consumers are rapidly moving to digital channels to find a home today, real estate agents – many of whom historically lagged moving to new marketing technologies – are catching up, according to data released by Bellevue-based Imprev, a marketing technologies company. Imprev analyzed marketing materials and distribution channels used by agents over the past […]15 years ago
Local home sales brisk but prices still sluggish
A dwindling inventory of homes continues in many Puget Sound area neighborhoods, increasing the number of sales but not the overall price of homes. According to the latest figures released by the Northwest Multiple Listing Service, members reported 3,846 closed sales last month, up about 25 percent from the year-ago total of 3,080 completed transactions. […]15 years ago
Number of underwater homeowners continues to grow
Nearly 23 percent of homeowners owe more on their houses than they are currently worth, according to new data from the last three months of 2011 released by CoreLogic. More specifically, the number of underwater homeowners rose slightly from 22.1 percent in mid-2011 to 22.8 percent by the end of last year. “When they’re upside […]15 years ago
Come to Pray? Town on market for $1.4 million
A small village known as Pray, Mont., is for sale, which means one buyer could own his or her very own town for $1.4 million. The small village, founded in 1907, is about 30 miles north of Yellowstone National Park and boasts a population of 197, according to Census data. The five-acre scenic countryside town […]15 years ago
