Zillow Advice RSS: Question-Discussion-Guide,All Real Estate Advice Topics,Ballard- Seattle- WA

How to read lender fees on my loan request

Fri, 20 Nov 2009 21:30:00 GMT

what is the difference between a loan discount fee and a loan origination fee?

9 replies

I have a home that was for sale and has the 3% verbiage in the listing. How can I get that removed?

Fri, 06 Nov 2009 17:01:00 GMT

2 replies

Is there really hope for homeowner's facing foreclosure or short-sales?

Thu, 05 Nov 2009 05:14:00 GMT

"Nearly one-third of all existing homes sold recently were either short sales or foreclosures", according to National Association of Realtors® data.
"Foreclosures and short sales can offer opportunities for home buyers, but it's extremely important to have the help of a real estate professional like a Realtor® for these kinds of purchases," said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. "Realtors® add value to the real estate transaction with their extensive knowledge and market insights. They can protect your best interest."

Are you or someone you know facing foreclosure and you don't know what to do? Do you need to sell but owe more money on your home than it will sell for in today's market? We can help. Call us today for a complimentary consultation to find out if you qualify for a pre-foreclosure sale or a short sale. Our team of experienced negotiation experts will work with your lender to try and get your remaining debt after the sale forgiven and help you save your good name. Time is of the essence! You have rights. Don't just sit back and let it happen. Avoid foreclosure today. There is hope for you.

Contact Cheryl Darlington or me, Lorri Day, today for your free consultation. Your information will be kept confidential. You have nothing to be ashamed of, many people today are facing foreclosure and short sales. We can help.
Call today! Lorri Day 425-492-4169 www.LorriSellsSeattle.com
or Cheryl Darlington 206-755-7147 www.mygr8agent.com

3 replies

There is incorrect info in a listing that I just entered pulled from the previous agent. please help

Sat, 12 Sep 2009 19:23:00 GMT

I just posted a listing MLS# 29126764 and the old photos from the old agent are on there and I would like them removed. You should be able to tell which are my photos since I uploaded them today 9/12/09. Also, her info is directly below the main photo and I would like that changed to mine. Can you do this?!!

2 replies

Ballard Homes - Afterthoughts become prime real estate

Sat, 08 Aug 2009 07:18:00 GMT

During the summer months of 2009, houses in Ballard have been selling at a median time of less than one month on the market. Considering the national and local numbers for inventory and marketing times of homes, this is a fairly extraordinary statistic. When a well-priced house comes on the market in Ballard, it sells.

There are three main factors working in Ballard's favor. The first is home pricing. North Seattle prices are fairly high in general, but many homes in Ballard are in the $300,000 range.  There were 13 homes under $350,000 sold in Ballard in the last two months, and there are another ten available right now on the NWMLS. These prices are right in the wheelhouse of a working couple in Seattle. They may be a bit high for a single buyer, but with two middle-class incomes, the $300k range is within reach.

Factor #2 is the proximity to downtown Seattle. Just 10-15 minutes from the downtown job core, Ballard commuters have ample options for bus transit and the less-used 15th Avenue corridor for car and bike commuting. Considering the price savings of 20%-50% compared to these other neighborhoods, Ballard is a relative bargain.

The third factor influencing purchases in Ballard is the lifestyle. Ballard could be the most eclectic, varied, and lively neighborhood in Seattle. Belltown has the neon lights, manicures, and fake 'n bake tans. Capitol Hill has the posh party lifestyle. The U District has rowdy college bars and clubs. Ballard has a bit of everything. From hipster bars to low-key fisherman's dives, there's never a "scene" in Ballard. Quiet enclaves have small, low-key restaurants. Industrial marine street-ends have "hole in the wall" bars. Popular attractions on Market and Ballard Ave draw the young, professional night life crowd.

0 replies

Ballard Home Sales Surge, Median Time to Sell Less than Two Weeks

Sat, 11 Jul 2009 23:47:00 GMT

Sales of Ballard, Seattle houses and townhomes are up big for June of 2009. Compared to the same month in 2008, total sales are up 19%, and sales of single family homes are up 17%. These are significant improvements in a comparable seasonal sales category.

Homes in Ballard are also selling faster than ever. There's no way to describe the Ballard market right now except as "hot". Median days on market was just 14 days for all townhomes and houses, and single family homes had a median marketing time of just 12 days. These are some of the fastest sale times we've seen anywhere in Seattle or King County, for that matter.

The Ballard real estate market seems to have inherited the perfect storm. It's an attractive and entertaining neighborhood for young buyers, prices are fairly reasonable for first-time buyers, and the $8000 tax credit is pushing many of these first time buyers off the fence. Nearly half of our current first-time buyer clients are buying homes in the Ballard area for its combination of downtown Seattle proximity and affordable housing in a lively, urban environment.

Ballard Homes For Sale

Numbers based on MLS data - total sales numbers may vary slightly. The Northwest Multiple Listing Service did not compile or publish this information.

3 replies

Who is the property manager?

Fri, 24 Jul 2009 18:17:00 GMT

0 replies

Best brunch?

Tue, 16 Dec 2008 02:14:00 GMT

I live in north ballard... what is the best yummy brunch spot in the area?

11 replies

If a house is in foreclosure but not for sale how can I try to buy it before it goes to auction?

Wed, 11 Mar 2009 21:36:00 GMT

Who do I need to contact? Should I try to take over the existing loan? How much should I offer (more or less than the remaining loan balance)?

Any advice is much appreciated!

11 replies

Breaking even when buying points

Fri, 12 Jun 2009 02:20:00 GMT

I am refinancing my home for ~$540k. I have a lock with the option to buy 2.58 points to get 4.5%. Otherwise we aren't quite sure what the rate would be, probably 5.5%. Do I have the following right?

2.58 points is $13932.

$330 a month is saved using 4.5% instead of 5.5%.
$13860 in monthly payments is saved in 42 months.

$5940 in monthly payments is saved in 18 months.
In 18 months at 5.5% the interest paid will be $46549.
In 18 months at 4.5% the interest paid will be $38009.
$8540 in interest is saved in 18 months.
So $14480 is saved in monthly payments and interest in 18 months.

Is the break even point for paying 2.58 points 42 months or 18? Why? Why don't the online calculators I've found take interest saved into account when computing the break even point?

13 replies

Archie McPhee's is moving this summer!

Thu, 07 May 2009 03:14:00 GMT

They are moving a little later this summer and discontinuing their Ballard merchandise, so if you need anymore of those Ballard bumper stickers, you better grab them now:)
They bought their new building in Wallingford and should be there in June 2009 according to all the signs...so you can still buy your devil duckies:)

1 reply

Streetcars?

Thu, 15 May 2008 20:34:00 GMT

The Seattle City Council is talking about a streetcar line to Ballard, but it would require a large local improvement district tax to pay for it.

Would that be good or bad for Ballard?

4 replies

Should refinancing be this hard?

Mon, 16 Feb 2009 23:52:00 GMT

I'm having such a painful refinancing experience! I contacted a mortgage broker at the end of December and decided to go with a quote he provided me with.

I signed all the paperwork, and then when he sent me an updated GFE I noticed he had added a $3K loan discount fee onto it. He tried explaining that my LTV had increased to over 70% after the appraisal, but really the LTV he originally told me he was looking at was over 70% already. And he keeps using all sorts of complicated mortgage lingo and doesn't clarify when I ask him to.

Anyways, that is just some background as to why I don't fully trust him...

So now, the lock on my loan is going to expire in a week, and he tells me that the lender won't have it closed by then because they have such a back-log. But he says he'll do his best to get them to keep the 4.5% rate that I locked in.

I have a feeling that I'm going to be screwed on this... that I'll lose the 4.5% rate and now rates have gone up significantly. And I can't believe it takes over 3 months to refinance a mortgage!

The lender doesn't have any obligation to give me the low rate after the lock has expired, right? What are my obligations to this broker... if I pass the lock date and the rate goes up, I don't have to stay with him anymore, do I? And will I owe him $ for the appraisal even if I'm not able to use it?

Thanks for any insights!

61 replies

What happens if I can't close the refinancing by the end of lock ?

Fri, 30 Jan 2009 13:22:00 GMT

I think my broker locked it for 30 days but I have been unable to clarify. It is coming up on Feb 5th so I am wondering if I can make it. Right now, my file is under review and I am submitting W2 and 1099s that keep arriving this week.
My question is what if I can't close by the deadline, would I loose 4.875% 30year no point deal altogether and get the current rate of over 5% ?

thanks,
S

13 replies

If I buy a new condo in a new developmnt, am I in danger of losing $ if the othr apts dont sale.

Sun, 01 Feb 2009 04:34:00 GMT

2 replies

Can I get an "appraisal update" for a refinancing loan?

Fri, 09 Jan 2009 22:47:00 GMT

I'm refinancing and the appraisal fee I've been quoted is $450 for a full appraisal. However, we refinanced a couple of years ago and I still have the appraisal for that. I've seen a product called "appraisal update" for about $250 on some appraiser sites... is that something I could do in this case to save some $ on closing costs?

5 replies

When is Trader Joe's coming??

Wed, 11 Jul 2007 18:26:00 GMT

I'm so excited to have the new Trader Joe's under the Ballard Bridge... does anyone know when it's supposed to open?

7 replies

edit phone number

Fri, 23 Jan 2009 19:41:00 GMT

How do I edit my phone number on my make me move listing?

1 reply

How do I find out who owns this house

Tue, 25 Mar 2008 04:37:00 GMT

How do I find out who owns this house

1 reply

Should I refinance now or wait until after the first of the year?

Tue, 16 Dec 2008 06:33:00 GMT

5 replies