No one can predict the future, but when a city the size of Tacoma, (often in the shadow of larger northwest cities when it comes to real estate reporting) is declared the best bet for price appreciation from 2008-2013, it’s hard not to be flattered and excited.
I live in Tacoma and I love this city. Nothing would make me happier than seeing that kind of appreciation. Regardless of how much stock you put in the Case-Shiller Index, it’s great to see good things said about Tacoma. Go back and look, I didn’t see the word “Seattle” anywhere in that article…
I visited this foreclosure a few months ago with a buyer of mine who had been looking at another unit in the building. At the time, the other unit was priced lower than anything had been at Allenmore Ridge, at $225,000.
This unit was priced at $185,000, but they reduced it to $160,000. The building doesn’t go FHA, so you have to have 20% down. That would put your payment (including HOA dues) around $1200/month with taxes, insurance, etc. HOA dues here include landscaping, earthquake insurance, Water, Sewer, and Garbage.
I love that it’s huge (1551 sq ft), with a great view of the golf course. Also, it has more storage than any condo I’ve ever seen.
Every full-time Realtor I know is swamped right now. Don’t even get me started on the loan officers. Ask anyone in the Real Estate business right now how things are going and you are likely to hear “I’m busy! Gha!”
So, if anyone is wondering why my posting has been lax this past month or so, it is because every buyer and seller on the planet decided to start making deals and the result has been a very heavy workload.
The President of the Washington Realtors, Greg Wright just shared this interesting article on Facebook. I know, he’s so hip!
Answering criticisms that all of the relief for the housing and economic crisis have been targeted at big banks and other large corporations, lawmakers are working on a bill that would make it possible for buyers to apply their $8,000 tax credit to their downpayment.
The proposal would make a federal tax credit for first-time homebuyers go farther by allowing it to be put toward the actual home purchase. A provision of the federal stimulus package offers a credit of up to $8,000 to buyers who haven’t owned a home in the past three years — buyers must also have incomes of no more than $75,000 for an individual or $150,000 for a married couple to qualify — but it’s a refundable credit. In other words, you don’t get the money until weeks or months after the home purchase has closed.
A budget proviso authored by the state Treasurer’s Office and pushed by Sen. Steve Hobbs (D-Lake Stevens) and the state Realtors would set up a mechanism to get the tax-credit money to buyers at closing, removing the lack of a sufficient down payment as an obstacle.
This is really exciting news. The article goes on to talk about how the state will be ensuring that they get their money- but I thought this was interesting:
The state Realtors would put up $400,000 as security against unforeseen losses.
Now I know why my Realtor Dues are so high. Ah well, that’s a good use for them!
At 980+ square feet, It has 16 foot high open beam ceilings, big tall windows that look over the port & Mt Rainier, and exposed brick walls. It’s basically everyone’s big hip urban loft fantasy come true. Not only that, going FHA, your payment including Homeowners Dues, Mortgage Insurance, Taxes, etc would be around $1200/month. This is my favorite downtown Condo this week. I love it. Anyone want to go see it? It’s awesome. More pics after the jump.
This year in Washington State we have new legislation designed to prevent homeowners in danger of losing their homes from being scammed. Freddie Mac recently released this video explaining how the scam works and how to protect yourself. It’s a little cheesy, but you get the message:
Remember, don’t sign paperwork without talking to a Lender, an attorney or a Realtor that you trust. Or, contact the counselors from the State of Washington at 1-877-894-HOME or visit their webpage here.
“Now is the time to buy.” This is something that I hear a lot out there. Most people look at the low interest rates and huge price redutions going on in the housing market and say this. In my opinion, whether or not it’s the time to buy depends entirely on your situation. Are you planning to move in the next 2 years? How secure is your job? Is your family going to be growing or shrinking in the next couple years?
Trulia has a great rent vs. buy calculator that can help you answer the question for yourself here. These caluculators are fun and can be a great jumping off point for starting your decision making process.
As a senior mortgage officer at Bank of America, I’d been in the mortgage business since 2002 and the time had finally came to buy my first home.
My family and I have actually lived in the same house since 2001. We’ve been fortunate to rent my wife’s grandmother’s house from her family for the last several years and when the opportunity presented itself to buy this house and keep it in the family we leapt at it! Now, if you don’t know me, I have a wife and two wonderful kids. Our house is a little on the small side at 1000 square feet with three bedrooms and one bath. Since we’re buying this house and we’ve been here for several years, love our neighborhood and our neighbors we decided to buy the house and renovate it using the FHA 203k program.
