Rich | Shared With: Everyone - Jul 19 2009 | the, seattle, mortgage, seattle real estate, real estate, housing
The collapse of this behind-the-scenes "banks' bank" could have a big effect. Some of the area's biggest lenders, like WaMu (now Chase) and Bank of America are no longer using FHLB, which will reduce its supply of money. In addition, cuts to programs have affected the bank's loans to developers of affordable housing, as well as to first-time buyer loan programs such as Home$tart.
Quoted: Don't look now, but another big Seattle-based bank is struggling under the weight of distressed mortgage-backed securities, declining loan business and the deflated housing market. This time it's not a consumer-oriented bank such as Washington Mutual, which collapsed last year, but the Federal Home Loan Bank of Seattle, a behind-the scenes funder of mortgage loans that faces its second major financial crisis in five years.
Rich | Shared With: Everyone - yesterday | the, mortgage, business, real estate, seattle, seattle real estate, housing
Quoted: Closed sales more than doubled year over year in five of the 29 areas into which the listing service divides King County. Three were on the Eastside: Kirkland, Redmond and West Bellevue/Medina. The Eastside's surge actually began in the fall, after a summer in which sales there stayed relatively flat compared with 2008 while sales began climbing in more affordable South King County and Seattle.
Rich | Shared With: Everyone - 8 days ago | the, seattle, business, real estate, seattle real estate, housing
Rich | Shared With: Everyone - 9 days ago | the, business, seattle, seattle real estate, real estate, housing
Quoted: In the past year (from October 2008 to October 2009), home prices in Seattle have fallen 12.4 percent, according to the Standard & Poor’s/Case-Shiller Home Price Indices, which are monthly reports that track home prices in 20 major U.S. cities. The only U.S. markets with bigger declines during that time were: Las Vegas (down 26.6 percent), Phoenix (down 18.1 percent) Tampa, Fla. (down 15.2 percent), Detroit (down 15.1 percent) and Miami (down 14 percent).
Rich | Shared With: Everyone - 14 days ago | the, mortgage, news, real estate, seattle, seattle real estate
Although the Fed is holding the rate low and steady, the mortage interest rate cannot stay low forever. It's going to continue a general trend of inching up, although it's still very, very low now and I think it will still be in the range of being low over the next 12+ months.
Quoted: The average fixed rate on a 30-year mortgage was 5.05% this week, up from 4.94% last week, Freddie Mac said Thursday. The last time rates ...
Rich | Shared With: Everyone - 16 days ago | the, economy, seattle, real estate, seattle real estate, housing
This is positive news, but my greatest concern is the last line in the quoted sentence, "The government's tax breaks have spurred sales to their highest level in nearly three years." What happens when the tax break ends in June? We cannot afford to extend the credits indefinitely - or can we afford not to?
Quoted: Stocks got off to a positive start after a report from the National Association of Realtors said home resales jumped 7.4 percent in November. That was much more than the 2.5 percent increase analysts expected. The government's tax breaks have spurred sales to their highest level in nearly three years.
Rich | Shared With: Everyone - 24 days ago | the, foreclosure, housing, seattle, real estate, seattle real estate, distressed properties
Still far below the national rate, but it's increasing.
Quoted; RealtyTrac Inc. said the report also shows one in every 417 U.S. housing units received a foreclosure filing in November. In Washington state, there were 3,288 foreclosure filings last month, with one in every 835 housing units receiving a foreclosure notice in November — a 15 percent increase from November 2008.
Rich | Shared With: Everyone - Dec 04 2009 | the, news, business, real estate, seattle, seattle real estate, housing
But sales were up...a lot.
Mixed string of news about the market over the past year, which is why I'm so hesitant to say we have recovered. The economic and housing situation is not simple; many factors still at play that are influencing pricing, demand from buyers, and supply of housing being released.
Quoted: According to data collected by the Northwest Multiple Listing Service (NWMLS), the average sale price of a home in King County last month was $415,581, down from $421,521 in October and well off the average sale price of November 2008 of $440,062. The median (half sold for more, half for less) sale price in King County last month was $337,000, down from $349,950 in October and down from $365,000 in November 2008.
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Rich | Shared With: Everyone - Nov 27 2009 | the, it, seattle
Quoted: <p>There are more than 400 parks and open spaces in Seattle. While everyone has their favorites, there are dozens you've probably never heard of.</p>
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Rich | Shared With: Everyone - Nov 25 2009 | the, seattle, list
Quoted: Among Washington cities, Tacoma is No. 34, Kent is No. 83, Among Washington cities, Tacoma is No. 34, Kent is No. 83, Yakima is No. 88, Everett is No. 90, Spokane is No. 121, Federal Way is No. 141, Vancouver is No. 215, Spokane Valley is No. 261, Bellingham is No. 286, and Bellevue is No. 343.
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Rich | Shared With: Everyone - Nov 20 2009 | the, it, real estate, housing, seattle, seattle real estate
Quoted: Sold on its square footage -- Quadrant advertisements run during the housing boom presented a family lost in its living room -- the house lacked a heater powerful enough to warm all that space, Sigafoos said. Sections of the home had been left without insulation by crews working for the Weyerhaeuser Co.-owned developer, he claimed, and wet materials used during the house's rushed construction provided a foothold for mold.

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