Quoted: Listings for all homes (houses and condos) were up 26.4 percent in the county and 27.4 percent in Seattle from a year earlier. The increases were the smallest since January 2007 in the county and December 2006 in Seattle, suggesting inventory might be starting to level off. "I think it's beginning to indicate that the inventory level is stabilizing, if nothing else," said Glenn Crellin, director of the Washington Center for Real Estate Research at Washington State University.

There definitely is a sweet spot in features and pricing where homes in Seattle are selling. Sellers often start to discount after their home has been on the market for 30-45 days, and the trend seems to be further discounts ever 30-45 days thereafter.

Quoted: There are times you can be aggressive, but they're not as common as people think," Kelman said. "If a house hasn't been on the market for a long time, a large discount just isn't going to happen."
"Things in the high or low price range tend to sit," Kelman said. "Things in the middle tend to be snapped up." Anecdotally, that means Seattle houses with three or more bedrooms, priced between $500,000 and $800,000, generally are speedy sellers.

It is going to be a rough ride in the 2nd foreclosure boom for people in the prime lending markets, many of whom have good credit but just can't make their payments. Also, as homes lose double-digit percentages in their values, some owners become more inclined to ditch their properties, favoring foreclosure and bankruptcy, over huge losses in value.

Quoted: The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building.

This is an excellent article that highlights some of the pros/cons of the housing aid bill that Bush just signed today.

Bottom line is that it's no silver bullet or panacea, but it is an important first step to provide aid to owners, buyers, banks and the market as government continues to find ways to improve upon the current situation.

Quoted: The problem," says Vogel of the Tuck School, "is that in order to refinance out of a loan, the lender has to allow it." That means the lenders have discretion to keep for themselves the "better" mortgages and to designate the less promising ones for insurance backing from the government.

While not perfect, it's a relief to many struggling homeowners that this bill passed. Without this, foreclosures would continue to increase dramatically and the troubled FNMA and FHLMC's impending collapse would send tidal waves that would further harm everyone.

Yes, many of the parties being bailed out have to share some of the blame. But let's get past the blame game and move forward in addressing the larger issue of economic recovery and market stabilization.

Quoted: President Bush has signed a massive housing bill intended to provide mortgage relief for 400,000 struggling U.S. homeowners and stabilize financial markets.

It's one thing to fudge numbers on applications to qualify buyers - that's bad enough - it's horrendous to lie to people and charge them absurdly high interest or fees without their knowledge.

These lenders are directly responsible for the problems in the housing and mortgage markets, which are now affecting our economy in general and everyone in it. They deserve the maximum punishment allowable.

Quoted: Their battle comes as state regulators have cracked down on mortgage abuse, bringing charges against lenders and brokers for charging unlawful or excessive fees, failing ...

Nothing wrong with interest groups lobbying on their own behalfs, but come on, let's do it legally and keep things honest.

Quoted: A group led by two former state Supreme Court justices is accusing the Building Industry Association of Washington (BIAW) of amassing $3.5 million in an illegal secret fund for its campaign to defeat Democratic Gov. Christine Gregoire.

Regardless of the politics behind the bill, the collapse of these two entities would have a huge effect on the housing market and the economy. If they fall, credit will tighten dramatically in all markets and the entire economy, not just the housing and mortgage markets, would be exposed to detrimental effects.

Quoted: In addition to propping up Fannie Mae and Freddie Mac and helping homeowners avoid foreclosure, the bill creates a permanent affordable-housing trust fund that initially will help pay for the mortgage-refinancing plan and eventually sponsor the creation of rental housing for Americans too poor to buy homes.

Radioactive granite countertops. . . great.

The "fake granites," like Corian and Silestone, are more resistant to heat, damage and discoloration, come in more patterns and colors and are cheaper

Quoted: As the popularity of granite countertops has increased, so have reports that some are emitting radiation and radon at surprisingly high levels.