State remains balanced of incoming, outgoing residents
Are we losing, or gaining, state residents? Checking the number of household moves in one indicator. Washington state had nearly as many incoming moves (2,752) as outgoing (2,604), earning it a place in the “balanced” category in the annual Atlas Van Lines survey. The survey reviews data on the origins and destinations of interstate moves […]15 years ago
Local home prices continue to slide; activity still rising
Following the pattern of recent months, local home prices were down in December while activity rose significantly, according to new figures from Northwest Multiple Listing Service.15 years ago
Tom Kelly: Timeline for ‘exchange’ residents confusing
The lackluster housing market has many investors looking for bargain properties, sometimes in bunches . The ways of funding the purchases also have become more creative as buyers rethink the role of real estate not only for their portfolios but also for their residences.
15 years ago
Donated homes become silver lining of foreclosure crisis
As the foreclosure crisis continues, experts predict that nonprofit organizations will receive even more donated homes. For example, the number of homes rehabilitated by Habitat for Humanity that were donated or bought at bargain prices nearly doubled to 1,210 during the year-over-year period ended in June 2011. Wells Fargo said it donated over 1,120 homes […]15 years ago
Debt load: State’s 2011 homebuyers averaged $250,000
The average Washington homeowner took on $249,625 in mortgage debt on a real estate purchase in 2011 – 12th highest in the nation – according to a recent study by LendingTree.com. Hawaii homeowners tend to take on the most debt in their home purchases with an average home loan amount of $677,299. That means the […]15 years ago
2012 challenge: Buyers, sellers at odds over pricing
Housing analysts are expecting home prices to stabilize in 2012, but that doesn't mean that buyers and sellers won't continue to be at odds over home prices in the New Year.
15 years ago
Foreign buyers see value in U.S. single-family homes
A recent Credit Sesame study showed that foreigners are swooping into the U.S. and grabbing bargain properties for less than $100,000, mostly detached single-family homes for use as a primary or secondary residence. The largest group of buyers comes from Canada, with Asians and Europeans ranking second and third. Florida is the most popular destination […]15 years ago
Feds consider proposals for foreclosure-rental plan
The Federal Housing Finance Agency (FHFA) received more than 400 proposals on how it should handle the high number of foreclosures that are plaguing many markets across the country. The proposals suggest various ideas on how the FHFA can go about turning thousands of repossessed homes that Fannie Mae and Freddie Mac own into rentals, […]15 years ago
Story of the year: What’s the new normal?
Stabilization should come on the heels of the true bottom. The unrivaled number of foreclosures and shadow-inventory homes, however, has simply thrown even the most accurate prognosticators off their mark.15 years ago
Flip it in 2012: FHA extends special funding waiver
Investors, start your engines and prepare to look for properties. In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, FHA extended a temporary waiver to its anti-flipping regulations through 2012. FHA rules usually prohibit insuring a mortgage on a home owned by the seller for less than […]15 years ago
Tom Kelly: Where’s Plan B if interest deduction dropped?
Moe Veissi, the new president of the National Association of Realtors, didn’t even blink an eye when the sensitive question was raised. It wasn’t an elephant-in-the-room topic, but it was close. “There’s a lot maneuvering on Capitol Hill,” the reporter said. “If the mortgage interest deduction is in jeopardy, what’s Plan B”? “We have no […]15 years ago
Key player in mortgage meltdown lists home for sale
Many real estate and mortgage analysts thought Angelo Mozilo would be the first major player to be indicted as a result of the country's mortgage meltdown.15 years ago
Tom Kelly: FHA bailed us out again in 2011
We’ve all heard stories about second-team players that were thrust into the starting lineup because the usual starters were not healthy enough to play – or whose past performance did not merit a starting role. The same was true for FHA in 2011. It became the preferred default setting in the United States mortgage banking […]15 years ago
Real estate salespersons getting older, NAR reports
The average age of a member of the National Association of Realtors has risen significantly, largely credited to the loss of jobs in other industries. In the latest NAR Profile, the typical member reported they were 56 years old, up from 52 in 1999. Approximately 57 percent of members are women. There is a larger […]15 years ago
Best remodeling bang for the buck? Home’s exterior
When it comes to remodeling, exterior replacement projects have routinely rewarded homeowners with more bang for their buck. This year is no different, according to the 2011-12 Remodeling Cost vs. Value Report from Remodeling Magazine. Seven of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects. An upscale […]15 years ago
Gingrich ‘didn’t personally’ get $1.6 million from Freddie
GOP presidential hopeful Newt Gingrich admits he should have done a better job explaining the consulting work he did for Freddie Mac . Bloomberg News has reported Gingrich earned between $1.
15 years ago
BofA pays $335 million in largest discrimination case
Bank of America has agreed to pay a record $335 million in a settlement over charges that its Countrywide Financial unit discriminated against Hispanic- and African-American borrowers from 2004 to 2008.
15 years ago
REOs still hamper market but market time dwindles
The pressure on overall home prices from distressed properties is still haunting the housing market, according to the latest Campbell/Inside Mortgage Finance HousingPulse tracking survey. However, homebuyer demand is growing, the survey finds. The average time on the market for real estate owned by banks (REO) is more than 10 weeks, which is at its […]15 years ago
Old consumer loan method comes back to surprise
An old refinancing wrinkle surfaced recently when a reader brought up an issue that we have not explored for years. She had purchased a home with the proceeds from her previous home plus a small balance that was financed by the owner. She had planned to pay the small balance off within three years and […]15 years ago
Three-time Mariner reduces sale price of Carnation home
Jeff Nelson served three different stints with the Seattle Mariners (1992-1995, 2001-2003 and again in 2005) but the home he bought in Carnation as a New York Yankees in 1998 is currently listed on the market and has been reduced to $2 million.15 years ago
HUD refund could provide boost at holiday time
If you’ve been approached by a private company to help track down funds you might be owed from paying off a Federal Housing Administration home loan, try taking on the chore yourself. The steps are simply much easier than they used to be – and the cash could come in handy in paying off those […]15 years ago
Santa, please do away with prepayment penalties
“We bailed out the banks, so why don’t the banks bail out consumers?” For the past two years, the most difficult question to answer has been the one raised by homeowners who have toed the line. They have made their payments on time, regardless of declining values. They have seen other owners who are behind […]15 years ago
Builder confidence rises for the third consecutive month
Builder confidence in the market for newly built, single-family homes edged up two points on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for December. This marks a third consecutive month in which builder confidence has improved and brings the index to its highest point since May of 2010. The move also […]15 years ago
Tom Kelly: Holiday traditions linger in, out of home
When our four kids were younger, Santa Claus always arrived earlier than expected . We set up the tree a few days after Thanksgiving, decorated it with lights and sentimental ornaments collected from special places we visited then prepared for Santa's visit about a week before December 25.