Category Archives: First Time Home Buyer
First Time Home Buyer: Steps to Buying Your First Home
Steps to Buying Your First Home
When I work with a first time home buyer, the question I get asked the most is, “Where do I start?” The answer is simple. Get preapproved for a home loan. Talk to a lender … Continue reading
Escrow Thursday: HUD Settlement Statement
HUD Settlement Statement
The HUD-1 Settlement Statement is the financial picture of the closing which shows all the money flowing into and out of the purchase and sale of real estate. The purchase-and-sale agreement, or escrow instructions, is/are the written agreement … Continue reading
Mortgage Monday: First Time Home Buyers Class
First Time Home Buyers Class
I am conducting first time home buyer classes with a Loan Officer from Home Street Bank, Kirsten Kauffman. She is very knowledgeable about loans available for the first time home buyer. She teaches the buyer what … Continue reading
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Mortgage Monday: Rent vs Own
Rent vs Own
I met a young couple yesterday at a listing I have for rent. The rental cost is $2,200 per month with a $4,500 deposit. If they wish to rent this property they will have to bring $6,700 to … Continue reading
Mortgage Monday: Are Tax Credits For Homeowners in Jeopardy?
Are Tax Credits For Homeowners in Jeopardy?
There has been a lot of talk lately about the “fiscal cliff” and what it could mean for homeowners. One of the tax credits on the table is the homeowners’ mortgage interest tax credit, … Continue reading
Buyers Information: Real Estate Brokers Get a Salary, Right?
Real Estate Brokers Get a Salary, Right?
I often wonder how the public views the world of real estate brokers and the services they perform. A knowledgeable, friendly person drives you around and shows you homes you might be interested in … Continue reading
Mortgage Monday: Rates Are Remaining Low
Rates Are Remaining Low
Mortgage rates are continuing the trend of remaining low. Today at Windermere Mortgage in Burien, Washington, the rate for a thirty-year-fixed loan of $417,000 or lower is 3.375%. Inventory levels are starting to rise along with prices. … Continue reading
Escrow Thursday: The Basics of Escrow
The Basics of Escrow
I attended a continuing education class today at the new Library in Burien, Washington. It was presented by First American Title Insurance Company, and the instructor was Kathy McKinley. The class was on the basics of escrow. … Continue reading
Escrow Thursday: Forms of Deeds in Washington State
Forms of Deeds in Washington State.
There are several types of deeds that can be used for real estate in the State of Washington. The difference in the deeds are the types of warranties provided.
A Warranty Deed warrants to the buyer … Continue reading
Mortgage Monday: Rent vs. Own Debate Heats Up
Rent vs. Own Debate Heats Up
Washington State is seeing an increase in rents and the single family home market getting stronger. With interest rates still at historic lows, the question is, “Should I rent or own?”
There are a couple of … Continue reading
Mortgage Monday: Interest Rates Still Low
Interest Rates Still Low.
Interest rates for a 30 year loan are at 3.5% today September 4, 2012. For those of you who are waiting for the rates to get to the lowest point they have been in 40 years, your … Continue reading
Mortgage Monday: Can Valuations of Homes Differ?
Can Valuations of Homes Differ?
When a Real Estate Broker values a home for sale, he or she does what is called a Comparative Market Analysis, or CMA, to assist in the decision to list and sell a home at a … Continue reading
Escrow Thursday: Why Do Some Title Reports Call For an Inspection?
Why do some title reports call for an inspection?
When a title company inspects, which is about 15-25% of all sale orders, they look for the following:
A. Evidence of recent improvements (thus, potential mechanic’s lien rights)
B. Evidence of encroachments
C. Evidence of … Continue reading
Seller Saturday: Interest Rates Drop Again
Interest Rates Drop Again
Interest rates ended last week at 3.675%, down from 3.85%. Sales of homes in the Burien and Normandy Park area of Washington have seen an increase. Take a look at the Trend Graph for these areas (click … Continue reading
Mortgage Monday: Rates Are Still Low
Rates Are Still Low
Prices of homes in the Seattle area markets have seen an upward swing. There are some homes in the market that are having multiple offers, causing sale prices to increase. The number of homes on the market … Continue reading