For several weeks/months we have asserted that there is no housing price bubble. The media, in general, has inaccurately portrayed the slowing market as sign of a meltdown. Kenneth Harney, syndicated real estate columnist for The Seattle Times, is a lonely voice of reason in the media. He’s right on! His 10/15/06 article sets the record straight on all issues/concerns …
Rare Kudos to Elizabeth Rhodes-Seattle Times Home Forum Article 10/1/06
It is a rare occurrence, but this week we tip our respective hats to Elizabeth Rhodes for an excellent, insightful response response to a reader’s question regarding “suicide loans” and the impact they may have on the market. The reader, as many people have inquired of us, wonders if there will be a bounty of foreclosed properties properties to choose …
Appraisals In Slowing Market: Ken Harney, Seattle Times 9/15
There are a couple of nuggets to be gleaned from reading Ken Harney’s article about appraisals. (1) good appraisers work to get the right numbers by calling agents to find out if concessions were paid by the Seller and ; (2) insight into the list/re-list game played by some agents in a slowing market. Fortunately, the Northwest Multiple Listing Service …
Foreclosure Investing/Seattle Times 9/9/06 Article
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 …
What Are The Tax Rules On Selling Real Estate?
We are often asked, “what is my tax liability when I sell my home?”. Also, “do I still have 2 years to purchase a replacement property?” The IRS rules were changed by Congress in 1997, but the language used has often left folks confused about this important issue. Seattle Sunday Times syndicated columnist Scott Burns [Business/Your Money] wrote an excellent …
Sunday Seattle Times: Making The Confusing More Confusing………..
It was difficult to miss this Sunday Times lead real estate article with a splashy front page reference, and the full front page of the real estate section. A quick reference tool produced by the Times for Eastside values and appreciation rates can be misleading if you don’t read between the lines and interpret the information relative to your own home . Select a neighborhood and you’ll …
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 …
Seattle Times: “Do remodeling jobs with resale in mind”
This article http://seattletimes.nwsource.com/html/realestate/2003035832_realhowto04.html?syndication=rss is a good start. We've worked through many, many remodeling projects with customers over the years, with resale in mind. (I've threatened to start a diary on this site for awhile detailing what we do for our clients in preparation for market. I've held off because I am afraid of sounding more like a handyman than a Realtor. …
Seattle Times: “Appreciate fact that prices don’t always rise”
This Elizabeth Rhodes article can be seen at http://seattletimes.nwsource.com/html/realestate/2002959756_homeforum30.html While the title is a little weird/misleading, as is often the case with Ms. Rhodes articles, the point is adequately stated: what goes up doesn't necessarily keep going up. Appraiser Alan Pope correctly states that it is important to keep the investment aspect of your real estate purchase in perspective: it …