Four years ago, Bank of America made headlines in the reverse mortgage industry by acquiring a turnkey operation and then simultaneously announcing a reverse mortgage program for second homes. This was big news - especially for baby boomers who had significant equity in two homes.
Reforms to America’s housing finance market must ensure a reliable source of affordable mortgage lending for creditworthy consumers. That’s according to industry insiders who examined the federal government’s future role in the secondary mortgage market at the Fannie Mae & Freddie Mac: Obama Options and Beyond session during the National Association of Realtors 2011 Midyear […]
Existing-home sales continued to recover in the first quarter with gains recorded in Washington state and 48 other states, according to the latest survey from the National Association of Realtors. However, sales declined in nearly 78 percent of metropolitan areas, including the Seattle-Tacoma-Bellevue metropolitan statistical area (MSA). Total state existing-home sales, including single-family and condominiums, […]
Many factors have increased the number of renter households qualified to purchase a home in 2010 versus 2005, according to the American Community Survey conducted by the U.S. Census Bureau.
Fannie Mae asked the government for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.
Zillow, the Seattle-based online real estate marketplace, announced it has pushed back its forecast for the "bottom" of the housing market from late 2011 to 2012 "at the earliest."
First-time home buyers have recently declined to 34 percent of the total market of existing home sales, down from a normal 40 percent, according to the most recent National Association of Realtors Confidence Index.
Federal and state regulators need to better support basic information in housing and housing finance. They are too concerned with potential conflicts of interest, even when counseling is a mandatory requirement and funding for programs is scarce.
While increased activity has led to multiple offers in some Puget Sound neighbors, pending home sales during April were down 24 percent from a year ago when buyers were scrambling to take advantage of a federal tax credit, according to the latest Northwest Multiple Listing Service statistics. Northwest MLS members reported 7,154 pending sales during […]
It’s been 10 years and the case is still open. No arrests have been made in the Puget Sound’s most infamous real estate murder that took the life of a respected agent representing the region’s largest company. A recent killing in Iowa rekindled stark reminders of the incident and sparked a review of safety precautions […]
Market Leader, the company formerly known as HouseValues.com, announced revenue of $7.2 million for the first quarter – up 25 percent over the first quarter of 2010 and six percent higher than last quarter. The company, which is transitioning from selling agent leads to providing customized websites and tools for agents and brokers, posted a […]
During the recent spring break, we visited with family and friends who were considering real estate purchases and sales. One couple was selling their primary residence, a modest brick Tudor in an established suburban neighborhood, and buying a “maintenance free” condominium downtown. Another couple, their three children now grown and gone, was looking for a […]
A recently published research study by two researchers from the University of Georgia shows that home buyers are willing to pay premium for the added esteem of living in communities with property names that include the words ”country” and ”country club.” The buyers pay an average of approximately 4.2 percent more for the word ”country” […]
Seattle-based Zillow was voted the People’s Voice Winner in the Real Estate Category of the 15th annual Webby Awards, an annual competition honoring excellence on the Internet. The Webby program was were started in 1996 by The International Academy of Digital Arts and Sciences which includes leading Web experts, business figures, luminaries, visionaries and creative […]
A Whidbey Island builder was honored yesterday as a winner in the National Green Building Awards by the National Association of Home Builders (NAHB) at the 13th annual National Green Building Conference in Salt Lake City. Zero-Energy Plans LLC, of Coupeville, was recognized for its design and awarded Project of the Year, Single-Family Concept and […]
Seattle-Bellevue area renters on average must earn at least $22.62 an hour to afford a modest apartment, yet the average renter makes just $17.27 an hour. This is the finding of Out of Reach 2011, a report released annually by the National Low Income Housing Coalition (NLIHC) that shows the mismatch between the rents available […]
The Internet is now all about video. However, that medium may not be the best way to show a home. Brian Sharples, chief executive officer for Homeaway.com, told attendees at the company’s annual weekend summit the best single thing they could do to market their properties was to use more high resolution photographs. “Photos are […]
March saw another increase in pending home sales, continuing a see-saw trend of activity. Signed contracts to purchase homes have been up in six of the past nine months, according to the National Association of Realtors. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, rose 5.1 percent to 94.1 in […]
The Washington State Department of Financial Institutions (DFI) announced a five-year extension of the Mortgage Fraud Prosecution fund which reimburses county prosecutors for costs related to the investigation and prosecution of mortgage fraud cases. “It is crucial to the protection of Washington consumers, and prosecution of those committing mortgage lending fraud, this account continue to […]
At least 10 Washington residents were among the more than 3,000 recipients of refund checks stemming from a lawsuit filed by the Federal Trade Commission against a company that allegedly charged Hispanics higher prices for mortgage loans than non-Hispanic white consumers. Approximately $1.5 million is being returned to consumers. A settlement order imposed against Golden […]
Do the most affluent zip codes also cultivate the best schools? Not necessarily, according to the latest Forbes/GreatSchools second annual “Top Cities to Live and Learn” study that looks at the places in America where housing dollars go the furthest in getting children a great education. Falmouth, Maine (median home price $351,550) topped the list. […]
The new Standard & Poor’s/Case-Shiller Home Price Index was released today, revealing that at least 10 markets – including Seattle – hit their lowest levels since home prices peaked in 2006 and 2007. The index revealed declines in 19 cities from January to February. The index fell for the seventh straight month. Prices fell at […]
Sales of newly built, single-family homes rose 11.1 percent to a seasonally adjusted annual rate of 300,000 units in March, the U.S. Commerce Department reported today. The gain partially offsets a large decline that occurred in new-home sales in February when activity hit a record low due partly to poor weather conditions. “The fact that […]
