Get Real Tacoma

Here is a great post on the blog QVisory about the difference between a fixed and adjustable rate mortgage.  

It’s mortgage rates 101: the difference between a fixed and adjustable rate home loan. Just like it sounds, a fixed rate mortgage stays at the same interest rate for as long as you are paying down the loan, regardless of whether interest rates, in general, go up or down.

Conversely, an adjustable rate mortgage can go up (and sometimes down) based upon the overall interest rate market. Sometimes it is possible to get an adjustable rate mortgage at a much lower interest rate than a fixed rate mortgage, but the rate could skyrocket in a matter of a few years.

Also, there is an explaination of what “Points” on a mortgage are.  Useful information for first time homebuyers and homeowners alike!

Thanks to my #1 Client Mary for sharing this with me on Google Reader!

Ken Madsen, The Assessor-Treasurer

I’ll never forget the first time I visited the Pierce County Assessor-Treasurer parcel search website.  I was shocked to find out that all you have to do is type in the address of a house or piece of land and it would tell you who owned it and how much they paid for it.  This is a fantastic tool for first time buyers to use when researching homes they find online.

It’s useful for homeowners as well.  If there’s a house on your street that is rented and the tenants are causing trouble, look up the landlord and send them a letter.  Is there a house that appears abbandoned that you might be interested in buying?  Look up the owner.  I work with a guy who keeps an eye out for empty houses then looks up the owners on the parcel search.  If they are out of state he sends them a letter offering to purchase their property.  He turns them into rentals and he has made some pretty incredible deals this way.

Find Your Optimal Home Location!

When buying a house, it is fair to say that the majority of my clients place an extremely high priority on commute time.  For people who are still part of the workforce (sorry retireds and trust funders!) this consideration is usually second only to price. 

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Foreclosure is not pretty.

I do not exaggerate when I say that at LEAST once a day, someone will ask me a question about foreclosures.  Foreclosure terminology can be a bit intimidating, but it’s easy to learn.  Here are some common terms and what they mean:

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