Kudos to Sarah Jio for her article on foreclosure investing in the Seattle Times on Saturday, 9/9. She interviewed an experienced, successful investor who imparted some key knowledge about the process of buying and selling foreclosed homes. However, an interesting bit of advice is where the invester recommends that one should not pay more than 85% of a home’s market value …
Median Price Increases: What Does It Really Mean?
We’ve touched on this before, but this Friday’s July 7 front page Seattle Times article by Ms. Rhodes (we like it better when she is away on assignment) http://seattletimes.nwsource.com/html/businesstechnology/2003110149_homesales07.html prompts a serious response: Median price means that 1/2 of all unit sales were below that price, and 1/2 of all unit sales were above. A rise in median home prices means that …
Seattle Times Article: For Homeowners With Adjustable Rate Mortgages………..
This Sunday’s Seattle Times real estate section featured an article on adjustable rate mortgages from The Associated Press, J.W. Elfinstone: http://seattletimes.nwsource.com/html/realestate/2003081961_foreclosures25.html . We find the article a bit on the alarmist side, but it is an important issue for many homeowners. For expert advice on the subject we turn to Ron Delfs at Equity Northwest [425-869-1825], [email@equitynorthwest.com], a long time …
Financing Questions
Here is the place to ask about financing types, private mortgage insurance (PMI), ARM's, predatory lending, etc. Here is a link to an article passed on to us by one of our long term clients. It is a thought provoking approach to home financing as it applies to one's overall economic health: http://www.realgroup.com/Asset_Management/FinancialPlanning-Mortgage.pdf (This is a 12 page PDF that …
Buying Questions
Here is the place to ask questions you might have about buying a home. Ask about contingencies, inspections, understanding forms, search strategies, etc. We'll post some ideas that might help.