We have owned many appliances in the course of our home-ownership lives. As agents, we have witnessed thousands of issues involving home-ownership and maintenance. However, never before have we encountered such a pesky, unrelenting, annoying issue as a dishwasher that requires more than annual service, and has never performed properly. We have had the same service folks out repeatedly, the …
Seattle Times Saturday Headline: “Let The Buyer Rejoice” Oct 6, 2007
For the full text of the article referenced here, use THIS LINK. The focus of the story is the the sea change in the local real estate market. I don’t know if there is much for buyers to rejoice, other than the fact that there are more choices than there have been. But buyers have to be patient and smart …
Important Loan Tips For Owners and Buyers
Sometimes the best information regarding real estate is in the Saturday editions of the Seattle Times, rather than Sunday. This week there were two helpful articles, one for owners with adjustable rate mortgages and one for prospective buyers providing tips on getting ready to apply for a new mortgage. If you have an ARM that is poised to reset it is …
Sub-Prime Mortgage Mess Blame Game
I spotted a great article at CNN.com today which, in simple terms, defines the roles of those to blame for the current mortgage/credit problems. Borrowers, mortgage brokers, mortgage companies and banks, Wall Street, and the Federal Reserve are all named as co-conspirators. Use this link to read the article.
Media has “Lost It”, But it May Actually Help
While there is some very irresponsible reporting taking place in newspapers, on television, and especially on-line regarding the state of the housing industry and mortgage related problems, the ratings and ad-sales seekers may actually be helping matters. The “sky-is-falling” reporting may be enough to excite voters to contact legislators, who may in turn begin to exert enough pressure on the …
More Mortgage Madness
The past week has been one of turmoil and concern for both real estate buyers and sellers. Buyers are finding it difficult to get favorable mortgage terms, and sellers are seeing fewer buyers that qualify to buy, based on stricter underwriting requirements. THE MEDIA: TV and newspaper stories continue to publish half stories and half truths that confuse. More than …
Mortgage Madness Follow-up
I just spent about an hour on the phone with Ron Delfs at Equity Northwest, our preferred lender [ron@equitynorthwest.com]. Ron had reviewed my previous post, so I asked him candidly what he thought about The Mortgage Professor’s article in The Times. He thought it was good, but that “down here on the ground it’s about 10,000 times worse”. Here’s the …
Mortgage Madness: The Professor Got It Right!
Clients look to us to provide answers regarding the media blast this week concerning the the stock market and related credit industry concerns. Sellers are wondering if they will ever sell, and buyers are wondering if this is the righ time to buy. It is interesting that media headlines have folks buzzing about the future of housing and credit when …
The Most Important Thing to Check BEFORE You Buy: The Commute!
This is our 2 cents regarding the importance of checking out a neighborhood before you buy. The Seattle Times has an article July 18, 2007 about the importance of getting to know a neighborhood before making a purchase. Isn’t it great just tooling around looking at neighborhoods on a sunny weekend day. Somtimes those days lead to a compulsive disaster: …
Seller Disclosure Responsibility NOT What Buyers Often Think.
This is a difficult subject. Rather than get into the ethical arguments, of which there are many, I want to get the principal across that is most important: Although sellers are required to provide a property disclosure statement, it does not absolve buyers from the responsibility they have to themselves e.g., if you are injured in an auto accident, and …