If it hasn’t happened to you, perhaps it has happened to someone you know. While interviewing potential lenders, whether to refinance or buy a new home, it is puzzling at best to discern what the various quotes mean. For example: (1) why is an interest lock free at one lender, but costs 1/4 pt (.25%) at another?; (2) why is the interest rate …
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 …
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.
Buyers Getting a Leg Up?
In the Seattle Times 7/7/07 Saturday Business section, an article describes a slower market, and how it is helping buyers. We have predicted for some time that conditions were ripe for increased inventory and slower sales. However, we also believe that this condition will give way to increasing sales activity as the year ends, and will be stronger in 2008. …
Rhodes: What Commission For Agent Covers
There are many real estate issues with which we have disagreed with Elizabeth Rhodes of the Seattle Times. However, we genuinely have to thank her for accurately, and considerately, explaining commission structures. See her article here. Further, Ms. Rhodes is to be commended for the thoughtfulness that guided her to use the insightful remarks of the President of the Washington …
Reply From Elizabeth Rhodes Concerning Prior Post….
As follow-up to the prior post, I joined an on-line Q & A hosted by Elizabeth Rhodes and Matthew Gardner. I submitted several questions, all of which went unanswered. However, Ms. Rhodes was kind enough to take the time and send an email explaining several aspects of her reporting. Number 1, she is a reporter. I guess that justifies stories …
From Forbes: “America’s Most Overpriced Real Estate Markets”
Matt Woolsey at Forbes.com knows how to assess real estate affordability. Check out his analysis process and see how it applies to where you live. See the entire article and pictures of the 10 most overpriced, as well as the 10 most underpriced, markets in the USA.
Foreclosures . . . Buyers Beware
This is my response to Elizabeth Rhodes article in the Sunday, March 4th, 2007 edition of the Seattle Times. Prior to becoming a licensed real estate agent I worked for Bellevue attorney who represented two large lenders processing all of their foreclosures. Something I learned from this experience was that there is a legal way to rob a bank. First, mortgage …
Seattle Times 02/25/07 Article: Redfin Revolution
Elizabeth Rhodes went way over the top with this article about Seattle based Redfin Real Estate. It’s not that reporting about such a company isn’t important. It is the unbridled optimism with little analysis from a business model perspective that is missing. Let me explain: 1. Redfin started as a pure internet interface without a phone number when it began. The result …
Foreclosure Prospects
A client recently asked us if shopping for a foreclosure home was the way to go in the Eastside market. I knew I had read a good, definitive article this past Fall regarding this very issue. After some digging throught Seattle Times archives, I located this article on the subject, “Foreclosures: Tacoma Up, Seattle Down” from the Nov 11 edition …