As if things weren’t strange enough, the subscription service that brought you Monday Morning Coffee for the last few years ceased operations in June. Since then I have been musing as to what to do for the many subscribers that have enjoyed those weekly snippets of wisdom. A dear long time friend and client jarred me back to responsibility last week …
Want New? A Finished Home Is Your Best Bet!
Today, when it comes to new construction, there is only one way to buy: a finished home, not a pre-sale wherein a home might just be getting started, or is still a vacant lot. Why? you might ask. Consider the following: 1. Nothing is more costly to a homebuilder than an unsold finished house. He is paying interest every day that …
Housing Predictions For King County and South Snohomish
Everywhere we go people ask us the same question, “how are things in real estate?” Depending on our energy level at that point in time, our answer might take 10 seconds, or 10 minutes. Sometimes people ask because they are truly interested from a personal standpoint. Sometimes it’s too find out if we are suffering as much as the media says …
Housing Pessimism: Get Over It….
I suppose it is not fair to ask today’s prospective home buyers what all the fuss is about. Given the daily onslaught of negative media coverage of housing and the economy, it is permissible to be concerned about whether or not to take the plunge. However, I don’t understand the hand-wringing, mind warping fear that has gripped many home shoppers to …
WaMu: From Bad To Worse…….
A few quotes from today’s Seattle Times article: “It’s always emphasized growth over all other aspects of its business.” “they had to reach down to a new level of the marketplace. They had to seek out a lower quality of customer than they were used to dealing with.” “Even though there was weakness in the market, they put their foot …
Hallelujah!
After 3+ years of refuting, critiquing and criticising the writings of The Seattle Time’s Elizabeth Rhodes on real estate matters, the Times has finally heard our pleas and replaced her with a new, actual Real Estate Editor. Meet Cindy Zetts. In her first article for the Times in yesterday’s Real Estate section, Cindy quickly demonstrates that “SHE GETS IT!” She has …
Skin In The Game
It makes sense. If we are to believe that there is a simple preventative measure which will reduce the chances of another mortgage market meltdown, “skin in the game” is a good place to start. Getting rid of 100% financing is a foregone conclusion. But what about the 97%, 95%, and 90% loans? It requires little change in the market …
Left Out In The Cold?
The help that the Federal Government has pumped into the economy may take a awhile to help home-buyers and those seeking to refinance. The Sunday Seattle Times included an article by Jeff D. Opdyke and Jane J. Kim of The Wall Street Journal. Very good insights as to why we are not seeing conforming 30 year fixed rate mortgages drop to near 5% …
The Mortgage Professor
Jack Guttentag, aka “The Mortgage Professor”, is a syndicated columnist to the Seattle Times. He has often referenced his website: http://www.mtgprofessor.com/Default.htm. Today, I finally decided to pay a visit, as I am considering the alternatives available to me for refinancing my current Jumbo mortgage. There is a lot valuable information there. It is more important than ever to thoroughly research …
Mortgage Mess: Light at the End of The Tunnel?
Jack Guttentag, aka “The Mortgage Professor”, provides some interesting insights into the mortgage market meltdown in his Sunday Seattle Times article “It’s Time To Expand Role of Mortgage Insurance”. Parts of his article are characteristically dry and difficult to read, but the essence of the message is there. If there is a bright spot in this deluge of not-so-good-news, it …