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.
Here are the homes and condos that sold in the Downtown Tacoma Area by Zip Code. By far, the highest number of home sales were in the Hilltop/Central Tacoma area (98405), with 12 houses and 1 condo selling in February. The median Sales Price for Hilltop/Central Tacoma was $174,000.
Stadium/North Slope (98403) and Downtown Tacoma (98402) on the other hand, posted only 2 sales each. The median price for Stadium/North Slope was $361,875. For downtown, it was $220,250.
Windermere Realtor Shannon Krueger has a great post on her blog about a workshop being offered to help Homeowners keep their homes.
Are your mortgage payments increasing? Are you worried about losing your home? Did you get a loan you can’t afford or didn’t understand? Do you feel like you were misled by professionals who helped you get your loan? Has your income been reduced?
Come to this FREE seminar and learn about the foreclosure process, income tax issues in foreclosure, safe refinance products and more. Know your legal rights and options.
Bring your loan documents! Certified Mortgage Counselors and Loan modification representatives will be available to discuss options for your mortgage.
SATURDAY, March 14th 10:00am - 6:00pm Registration begins at 9:00am
Evergreen College Tacoma Campus 1210 6th Ave
If you are concerned about being able to make your mortgage payments in the future, or if you are already behind, grab your documents and head down to this free workshop to explore your options and find out what it takes to keep your house.
Good news for people looking to finance homes that cost more than your average house.
Effective this coming Monday, March 9th, FHA and Super Conforming loan limits go back to 2008 levels! That means that in Pierce County the limit is now $567,500. This is great news for sellers in that price range as well, as it means it will be easier for buyers to finance your $550,000 house!
King and Snohomish County have the same FHA limit ($567,500), Kitsap county is $475,000, Mason is $310,000 and Thurston is $361,250.
With the huge number of condos on the market right now, it’s always worth paying attention to the ones that sell. This Studio Loft at Cliff Street Lofts on 1120 Cliff Ave Downtown was a bank owned foreclosure. It was listed for $131,900 and sold for $131,000.
It has a great view of the Mountain and the City. It’s a studio, with super high ceilings and an open modern kitchen with newer appliances.
The homeowners dues are $151/month on this unit, so if you were getting an FHA loan your payment with everything would probably be between 1100-1200 month. Read the rest of this entry »
