For Buyers

Life Support for Downpayment Assistance?

Many months ago I expressed my frustration with Congress and HUD when legislation was passed to do away with downpayment assistance programs such as the Ameridream program. Those of us who have been in the industry for a while worked with many of these programs under names such as Nehemiah, HART, Ameridream and others. According to the Ameridream site, since Congress abolished these programs in October of 2008, over 90,000 prospective home buyers have been unable to make a purchase. The arguments against down-payment assistance programs (DAPs) revolve around a larger number of defaults on these loans and concern about over-inflated appraisal values. Both of these could easily have been addressed with stricter qualifying requirements and more in-depth appraisal review. Opponents say “they should just save up their down-payment”, but in a market such as King County, where the average sales price is $450,000, that’s a HUGE amount for a young individual or couple to save. At the required FHA 3.5% down-payment, that’s $15,000 needed for down-payment alone. And rents aren’t cheap in our area either, which pushes the ability to purchase further and further away without these DAPs. Before Congress right now is H.R. 600 “FHA Seller-Financed Reform...

More Good News for 1st Time Home Buyers

By Colleen Fischesser

Many first time buyers already know about the first time home buyer tax credit for purchases made this year. But since most zero down-payment programs have been eliminated, many buyers are still unable to purchase because they don’t yet have their 3.5% downpayment saved. Although the credit was meant to stimulate home sales, there’s a bit of a logistical problem…. in order to get the credit, buyers have to purchase a house, but in order to purchase a house, they need the tax credit to help with their downpayment. Here in Washington State, the legislature is looking into a creative alternative to help would-be buyers take advantage of this very affordable market. The State recently passed a budget which provides 25 million dollars to be used as advances against the tax credit. They are calling it the TAX CREDIT ADVANCE PROGRAM The details have not yet been worked out, but hopefully this will be a viable option for local buyers in the very near future! Behind on Payments? We May Be Able to Help! Find out what your King County home is worth. Find My Dream Home! City of Scars movie dvd The Life and Times of Judge Roy...

Kent Easthill Market Heating Up?

By Colleen Fischesser

With 468 Active Listings available to home shoppers in the Kent Easthill area, you’d think buyers would have plenty to choose from….and the are choosing. As of today there are 227 sales pending close of escrow. But what’s noteworthy is that in the last 6 months, 607 homes have sold and closed…..more closed sales than active listings! When factoring market absorption rates, we take the total number of sales for the last 6 months, and multiply by 2 to get an annual projection (12 months)….so in this instance, 601 sales x 2=1202 projected sales for the year. Divide that by 12 and you get 100 sales per month…..So with 468 homes available for sale, the calculated rate at which the available inventory will be absorbed is approximately 4.68 months. Don’t look now, but under traditional definitions, absorption rates under 5 months are typically referred to as favoring the SELLER….yes, a seller’s market. I’m not saying we’re there……yet. But many buyers out there now are seeing signs of a changing market, especially in the lower price ranges where multiple offers and shorter market times are becoming much more common place. Memento the movie online Download The Love Bug movie Superheroes...

“The Smallest Patch of Green…”

By Colleen Fischesser

“The smallest patch of green to arrest the monotony of asphalt and concrete is as important to the value of real estate as streets, sewers and convenient shopping.”-James Felt If you’re among the lucky ones who are ready and able to buy your first or next home now or in the near future you’re likely to find yourself many options from which to choose. Whenever I meet with new clients for the first time, I usually try to determine their wants vs. needs. A need would be the main floor bedroom because Grandma visits often and can’t navigate stairs, or a fenced yard because Fido can’t stay in the house all day. A want would be more along the line of a luxurious Master bathroom with heated marble floors and a jetted soaking tub. These days, with unprecedented low interest rates, it’s possible for home buyers to get their needs PLUS many of the “wants” as an added bonus. Low interest rates mean buyers are able to qualify for more house for the same payment. Let’s look at a hypothetical couple looking for their first home. Double income, good credit and are looking to keep their principle & interest...

Bellevue WA #1 Place to “Live and Launch”

By Colleen Fischesser

According to an article on CNN Money, Fortune Small Business has slotted our own Bellevue, WA in the top spot amount US cities which combine a sublime blend of business opportunity and recreational pursuit. The article cites Bellevue’s growing downtown and strong school system along with it’s ability to attract major retail as a few of the positive factors for the area. Also making the cut in the Top 100 for Washington were Bellingham (27) and Olympia (40). Watch For the Love of a Dog the movie online Watch Less Than Zero movie online Six Days Seven Nights movie trailer The Private Life Of Don Juan the movie Watch Legend of Drunken Master Jui kuen II the movie 101 Dalmatians 1961 movie dvd Download Werewolf The Devils Hound movie The Super movie on dvd provigil experience generic celexa withdrawal migraine for sale cardizem 240 mg cd capsule hcl is prevacid over the counter the same as the prescription online singulair 5mg ingredients tabs retin a micro gel canadian pharmacy generic vasotec drug category online carafate cmi duetact 30 2 price tabs Motilium tab 10mg lipitor and eye problems hcl fluoxetine hcl caps 40mg side effects coversyl 8mg canada drug...