Blog archives from 2011

Bellevue is Heating Up
Apr
29

Bellevue is Heating Up

Here are three signs downtown Bellevue is heating up:

Expedia is expanding and is rumored to be taking 50,000 square feet of space at Skyline Tower. Makes sense. The company is growing, with 349 job openings in Bellevue listed on its website. Plus, Skyline is next to Expedia's headquarters. Company officials did not respond to an email seeking comment.

Investors are interested. A brief article tucked inside yesterday's Wall Street Journal stated New York-based Thor Equities has agreed to buy Bellevue Galleria for $87.5 million. “We see enormous potential in this market and in this property in particular,” Thor Chairman and CEO Joe Sitt told the Journal. The 204,000-square-foot office and retail project is 99 percent leased. A spokesperson for the current owner, RP Realty Partners of Los Angeles, did not respond to an email...


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How to Stop a Foreclosure
Apr
21

How to Stop a Foreclosure

HOW TO STOP FORECLOSURE
Facing Foreclosure...Consider a Short Sale
If you are one of the many homeowners who have fallen behind on your mortgage payments and you don't see any way to avoid foreclosure, a short sale may offer you the least painful way to resolve the situation.
Obviously, the ideal scenario would be that you magically catch up on your mortgage payments and keep your home. But for an increasing number of Americans, that is not a realistic possibility, so it's to your advantage to take an active role. This is what a short sale is all about -- resolving the problem, as opposed to simply hiding from your lender and hoping the issue will go away or, worse, walking away from the property.
WHAT IS A SHORT SALE?
A short sale is when the proceeds from the sale do not cover the balance owed.  The bank(s) recognizes the borrower's economic hardship and agrees to accept a discounted payoff on the loan.  The homeowner then sells the property for less than the outstanding balance of the loan, turning over the proceeds to the lender.  In most cases, the lender will recognize this as full satisfaction of the debt.  Upon listing your home for sale, I will begin working with the bank's loss mitigation department to negotiate a successful short sale.
WHY IS IT CRITICAL TO CHOOSE AN EXPERIENCE AND CERTIFIED SHORT SALE SPECIALIST?
In a word: success.  The mls is littered with failed short sales.  To avoid that experience, an agent much have the specialized training, tenacity, and above all, skill.  Lenders are not required to accept short sale payoffs.  It takes a skilled, persuasive professional to show them why a short sale makes sense - and then navigate the complex process to completion.
WHY WOULD A HOMEOWNER CHOOSE A SHORT SALE?
A short sale will typically postpone the foreclosure process and give you several additional months (with no payments) in the home.  The homeowner also benefits by avoiding the stigma of a foreclosure on his credit history.  Satisfying the debt via a short sale allows the borrower to get reestablished financially and avoid future hardship.  While a short sale does adversely affect a person's credit history, the impact is far less than that of a foreclosure.  In most cases, the seller incurs no out-of-pocket expenses.  According to recent Fannie mae guidelines, homeowners can be eligible to buy again with certain loans just two years after a short sale is complete.  By contrast, after foreclosure they must wait 5-7 years.
Facing Foreclosure...Consider a Short Sale If you are one of the many homeowners who have fallen behind on your mortgage payments and you don't see any way to avoid foreclosure, a short sale may offer you the least painful way to resolve the situation. Obviously, the ideal scenario would be that you magically catch up on your mortgage payments and keep your home.

But for an increasing number of Americans, that is not a realistic possibility, so it's to your advantage to take an active role. This is what a short sale is all about -- resolving the problem, as opposed to simply hiding from your lender and hoping the issue will go away or, worse, walking away from the property.

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Seattle Area Sees Fewer Apartment Vacancies, Higher Rents
Apr
11

Seattle Area Sees Fewer Apartment Vacancies, Higher Rents

Things are looking up in Seattle's apartment market — if you're a landlord — with the region's vacancy rate dropping below 5 percent for the first time in several years. The vacancy rate kept dropping over the past few months while rents kept rising, according to two recently released reports. Both trends began a year or more ago. They will continue for at least the rest of this year.

Rising rents are helping make for-sale housing more competitive, Jones said, especially among entry- and midlevel consumers.For the most part, however, apartment buildings are filling up faster than condo projects. At The Bravern luxury project in downtown Bellevue, which converted from condos to apartments last year, a spokeswoman for developer Schnitzer West said about half the 443 units are leased — even though more than 200 didn't come on the market until October.


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Monday, May 29, 2017
Generational Housing Needs and Their Effect on the Market

Saturday, May 13, 2017
Consumer Agency Launches Tool To Help You Find A Cheaper Mortgage

Saturday, April 8, 2017
King County home prices resume their climb

Tuesday, September 17, 2013
Keys to Help Buyers Compete in a Seller's Market

Thursday, May 23, 2013
10 Things Buyers Need to Know

Sunday, April 14, 2013
Women Consider Owning a Home to be a Vital Component of the American Dream

Tuesday, March 19, 2013
The 8 Top Home-Selling Mistakes You Should Avoid

Thursday, January 10, 2013
Fiscal Cliff Bill a Benefit for Homeowners

Sunday, December 2, 2012
Should You Help Your Adult Kids Buy Their First Home?

Monday, October 29, 2012
Economists Bullish on Housing Recovery

Sunday, October 21, 2012
What is moving housing upward?

Monday, September 10, 2012
Five Common Mortgage Myths

Thursday, August 2, 2012
It's a great time to be a seller

Saturday, June 23, 2012
Are appraisers falling behind on home value increases?

Wednesday, June 6, 2012
Is Now the Time to Invest in Rentals?

Wednesday, May 30, 2012
4 Guidelines for Successful Negotiations

Thursday, May 24, 2012
5 Reasons Now is the Time to Buy

Tuesday, May 15, 2012
Seattle-Bellevue-Everett Unique Housing Market

Thursday, May 3, 2012
Buying a home won’t get much cheaper

Tuesday, April 24, 2012
New Rules to Speed-up Short Sales

Thursday, April 5, 2012
Home Prices to Rise in 2013

Thursday, March 22, 2012
Buying Cheaper than Renting in 98 of Top 100 Major U.S. Markets

Sunday, March 11, 2012
Five Tax Breaks for Homeowners

Thursday, March 8, 2012
How the FHA Loan Plan Can Help You Refinance

Thursday, February 16, 2012
Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Estella said
"That is a beautiful shot with very good lighting ." about Women Consider Owning a Home to be a Vital Component of the American Dream
on Sunday, May 12, 2013 @ 9:57 AM

Chris White - Team Leader said
"Unfortunately you are not alone. It's more than an outcry. The powers that be really need to come down harder on Bofa than they already are. Working on these short sale for over 2 years now I've uncovered down right fraud happening on the lenders parts. If they cared more about moving this country forward than protecting their own wallets then they would cut the red tape and approve these short sales in a timely manner. Our team made the wise decision to get BofA loans which were FHA or Freddie Mac backed, approved prior to listing on the market. Then we can list the home as "Price Approved" and close in 30 days. In this instance BofA does a full appraisal, rather than an incompetent "Broker Price Opinion" (nothing against agents but they have no idea how to make adjustments on comparable homes) and then the bank issues an "Approval To Participate" letter which dictates what price we can go on the market and take anything north of 88%. I really do hope your situation improves. " about Congressional Bill to Speed Up Short Sales
on Tuesday, August 30, 2011 @ 9:15 AM

Lisa Zeiner said
"We made an offer 4 months ago to BofA, and have heard nothing. It was a cash offer which is better than the zero money they are collecting now. And since the people don't care they are trashing the place, by the time BofA gets around to it our offer will be gone as the place is a mess!! Septic issues now, garbage being dumnped. All of this could have been avoided if BofA really wanted to correct their cash flow problem and sell these properties in a timely manner. They cry about cash but then do nothing intelligent to fix the problem" about Congressional Bill to Speed Up Short Sales
on Tuesday, August 30, 2011 @ 9:06 AM

Jones Ramirez said
"Thank you for the work you have done into this post, it helps clear up a few questions I had." about How do appraiser’s determine a homes value?
on Tuesday, April 19, 2011 @ 10:07 PM

HollyRobsonf said
"Hey - I am certainly happy to find this. great job!" about Bank of America to Offer Principal Reduction to Underwater Borrowers
on Wednesday, April 13, 2011 @ 6:45 PM