Zillow Advice RSS: Question-Discussion-Guide,Home Buying,Seattle- WA

U.S. Home Prices Rise For Fourth Straight Month

Tue, 24 Nov 2009 19:08:00 GMT

As U.S. home prices continue their monthly gains, more confidence is building that the housing market is stabilizing. While winter home sales and prices will most likely provide a short dip in statistics, fall sales have been particularly encouraging.

October home sales rose over 10% this year, creating a surge in the stock market and further confidence in real estate. The sales beat the predicted estimate of a 1.4% increase, and was attributed in part to the first time home buyer tax credits.

There's no guarantee that the market has stabilized, just some more data to add to the discussion.

19 replies

Avoid The Most Common Buyer Errors

Thu, 26 Nov 2009 06:32:00 GMT

Shopping for a new home is an emotional experience. It is, however, also a business transaction, and must be treated as such.
Three of the most devastating things that can go wrong are:
Paying too much
Losing a dream home to another buyer
Buying the wrong home
When you have a systematic plan before you shop, you'll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:
Buy YOUR home: What do you need and want in a home? Sounds simple, but clearly identifying your needs and bringing an objective view to home shopping leaves you in a much better position. How much space do you really need? Too small and you may feel like you live in constant clutter. Too big and maintenance may become too daunting. Outline all of your priorities, and work on finding not just a great home, but a great home for you.
Minimize the unexpected: For $300 - $500, a professional inspector will conduct a thorough inspection of the home. Their expertise can mean the difference between uncovering major flaws before or after you own a home. Make the final contract subject to the report's findings.
Get pre-approved: It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.
Remember additional costs:Besides the funds for the purchase of a home, you'll need funds for items such as loan fees, insurance, legal fees, surveys, inspections, etc.
Take a deep breath: Before you sign, ensure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Don't rush. You could lose money, financing, or even the sale if you attempt to push things through too hastily.

0 replies

Why purchase at a foreclosure auction?

Wed, 18 Nov 2009 09:18:00 GMT

There are a number of advantages to purchasing property at foreclosure auction.

Great values: Obtaining real estate at a property foreclosure auction can be a very worthwhile investment of time and money. Regularly, a small amount of bidders may materialize on the day of a property foreclosure auction, so there may be little or no contest for a particular property. Countless people are unaware that property can be purchased this way, or are intimidated by the procedure. This means that vacant land, condos, and single family homes are sold for a reduced amount of market value, sometimes considerably less. Most investors that buy at a foreclosure auction look for properties to be 25% to 30% less than retail value. But if you have patience and the right resources often enough you can purchase properties at a 50% or more of a discount.

Ownership: Typically quick possession if you are the successful bidder, you are entitled to possession of the property as soon as you receive the Trustee's Deed.

Accessibility: Best of all, anyone can purchase a property at auction.

6 replies

Foreclosure .com "Listings" - Misleading or Not?

Wed, 25 Nov 2009 16:54:00 GMT

These foreclosure .com "listings" on Zillow are really bringing down the integrity of the site's data. Anyone else agree? Trulia went down this road with realty trac and it really dilluted the quality information available.

Look at the listing for this house:
http://www.zillow.com/hom ... 378_zpid/
They hide the address, give a price, and then hope you'll pay for the subscription fee. This home is already listed by an agent and is on the MLS. There's already a buyer under contract. If the regular MLS listing was used, a consumer could have gotten this information for free.

That's one of the good "listings". Look at this one:
http://www.zillow.com/hom ... 160_zpid/
No price, no address, no bedrooms, no baths. "It represents a great time to strike a deal with a homeowner who is no longer meeting his or her monthly mortgage obligations." Sure, if we had an address, and any guarantee that the homeowner actually wanted to sell.

Some of these "listings" even make up a "price" by using the value of the loan on the home--again, not helpful.

We can't even see a picture of the home until we pull out the credit card. Does this make you trust foreclosure .com enough to pay for a subscription?

5 replies

Are we doomed to rent or is there hope for us?

Wed, 06 May 2009 02:16:00 GMT

We are a family of 4 living in Seattle on about $50,000 a year. We have a credit score under 620 and we do not have family to give us money for a down payment. Are we hopeless renters or will we ever be able to buy a home? What is our first step on the road to being home owners?

39 replies

Do I qualify for ANY first-time buyer incentives?

Thu, 16 Jul 2009 04:58:00 GMT

I understand that I do not qualify for the tax credit because my income is >$95k/yr, but are there any other incentives/programs/reliefs/etc. for first-time buyers that I can explore? I live in and am planning to buy in Broward county (Fort Lauderdale) Florida. My credit score is ~770. Thanks for any help and advice!!

Matthew

7 replies

Let Seattle Realty Group help you buy your next home and get up to $2,000.00 in Furniture for FREE!!

Fri, 05 Jun 2009 20:15:00 GMT

[content removed by moderator for being self promotional]

12 replies

Looking at a fixer upper in Central Seattle. As a first time buyer, what do I watch out for?

Tue, 13 Oct 2009 07:16:00 GMT

From what I already know, a fixer upper offer is always contingent upon inspection (listing price-price to fix it to a livable point). But what else do I need to think about? There's property that I am interested at, priced at $365K. Realistically, I'd like to get it for no more than $300K, but what is the best way to negotiate? Any tips/advice/resources very much appreciated.

17 replies

RE; Foreclosure and REO properties

Thu, 19 Nov 2009 19:22:00 GMT

I have access to all of the pre-foreclosure, auction and bank owned properties. Call me for more information in finding properties of any type and any price range. My advise is free to you.

3 replies

In Seattle high-end rentals, is it customary for the tenant or the landlord to pay for utilities?

Tue, 10 Nov 2009 15:56:00 GMT

9 replies

Seattle Floating Homes and Houseboats Sold in October '09

Mon, 09 Nov 2009 23:39:00 GMT

There were 3 sales of Seattle Houseboats and floating homes in October. These sales run the full spectrum of floating homes and are a good example of the variety.

The first sale was a true house boat on the north end of Lake Union. Located in the Seattle Marina just East of Gasworks park, this 1950s boat is a seafaring vessel docked in a rental slip. Just down the hill from near-million-dollar Wallingford homes, this houseboat has 1000 sq ft of interior space and sold for just $149,000. At 2 beds and 2 baths, it's fairly inexpensive living on Lake Union.

On the east side of the lake, the floating Eastlake homes are more traditional houses with no intention of floating out to sea. A small 1 bed, 1 bath bungalow sold for $415,000 as part of an estate sale at the beginning of the month. This included an owned co-op slip and boat moorage, some of the extra amenities you'll find in the well-managed Eastlake communities.

On Roanoke Reef in Eastlake, some of the most spectacular locations and views of Lake Union and Seattle can be found. One new homeowner just picked up a 1980s built, two story, 3 bedroom floating home for just under $1.3 million. These homes have plenty of room for boat moorage, secure garage parking (on land), and decks on ever level. At 1900 sq ft, it's a good-sized home and really feels a lot like living in a traditional home most of the time. There's no better place to catch the fireworks than from your living room on Roanoke Reef.

0 replies

ONE CRITICAL QUESTION SHOULD BE ASK OF THOSE COMMENTING ON THE BLOG ABOUT HOME TAX CREDIT [ DO YOU P

Fri, 06 Nov 2009 21:24:00 GMT

7 replies

do you have foreclosure specialists in Seattle that could help my husband and I purchase a home?

Mon, 02 Nov 2009 21:08:00 GMT

8 replies

Home inspections are such a waster or money.. I have a better choice.

Tue, 06 Oct 2009 21:28:00 GMT

Home inspections are such a waste of money.. I have a better choice

I sold this house and the buyer had the home inspector come out. He didnt crawl in the crawl spaces to inspect the joists and determine if they were termite free. He looked at the electric panel and didnt take the cover off to inspect the wires ( maybe old ) The roof he looked at and told her it was an OK roof... The chimney base was rotted out and degrading and he totally missed that. He never even fired the boiler up and inspected it.. He pointed out stupid stuff, like chipped paint and cracks in the asphalt driveway.. A better choice is to have someone you know that is pretty good with fixing stuff.. A guy that is willing to crawl in and look at the joists, etc.. After seeing that, I think they are a waste of money. They point out the obvious.. Whats your take?

28 replies

Seattle Foreclosures - Rising, But Less Than Half the National Average

Thu, 22 Oct 2009 15:33:00 GMT

Seattle Foreclosures have been rising steadily for the past couple of years, but a new article from CNN Money puts the total numbers in perspective. While Seattle got hit with the real estate downturn much later than most cities, our foreclosures have been increasing while other cities have been slowing.

That being said, our total foreclosure numbers are less than half the national average. Most big cities have real issues with foreclosed homes and distressed properties. Bank-owned homes constitute less than one quarter of one percent of the homes for sale on the market in Seattle. This is miniscule, and doesn't affect the real estate market much at all at this point.

3 replies

TAX CREDIT

Thu, 29 Oct 2009 01:54:00 GMT

THE FIRST TIME HOME BUYER TAX CREDIT HAS JUST BEEN EXTENDED TO APRIL AND IS NOW ALSO AVAILABLE TO 2ND. TIME BUYERS.
SEE THE LINK FOR MORE INFO.
http://www.msnbc.msn.com/id/33522046

DJAEGER@SELLINGSEATTLE.COM

14 replies

I am negotiating a Purchase and Sale Agreement. How do I search recent comps to leverage the market

Tue, 20 Oct 2009 19:03:00 GMT

I am a commercial agent, representing myself.

7 replies

HOA dues for Seattle Condos

Wed, 28 Oct 2009 22:45:00 GMT

Does there exist any compilation of information showing HOA dues and what services/utilities are included in such dues for Seattle area condos? I am trying to get a general sense of HOA/square foot in various buildings. I recognize that different buildings have different amenities and services which makes apples to apples virtually impossible. Just trying to get a sense of what homeowners really are spending (vs what I presume are optimistically low calculations for new projects). Thanks

5 replies

short sale question

Wed, 07 Oct 2009 17:54:00 GMT

I am currently in the process of buying a short sale, the sell is in the last step of the process. The negotiator has approved the sale and now they are waiting on approval from the investor. Does this sound right? The approval was given to us last friday and the law firm that is handling the negotating stated that they should hear from the investor within 3 to 5 days. What are your thoughts on this and is this a good sign for us?

20 replies

Bank-owned homes on NWMLS increase, still a sliver of the market.

Fri, 23 Oct 2009 07:41:00 GMT

The total number of bank-owned homes in Seattle on the MLS is strikingly low. Between Seattle, Bellevue, Kirkland, Redmond, and Shoreline, I'm showing around 280 bank-owned homes for sale on the NWMLS. That being said, the number did take quite a jump since it was around 210 homes a month ago when I last pulled the statistics.

To keep this in perspective, there are probably 10,000 listings for sale in the Greater Seattle metro. These bank-owned homes make up only a tiny sliver of the homes for sale. It's an interesting trend to follow, but not a market-changer at this point.

2 replies