Seattle Real Estate

Place for real estate news and area events

My lender won’t help me! October 19, 2010


Have you tried everything you can with your lender? Called them only to have to navigate through button after button of some voicemail system? Hoping at some point that if you hit that “0” enough times you will actually get a live person? Then “BAM” you get a real person you know the one, that says they can help you but won’t listen and leaves you even more frustrated than before your call?

Anyway, you get my point. Well, I did some digging and found a couple things that might help you. Please check them out and if you find any of this helpful let me know. Always love to hear about good things happening to the good people (you have to be good if you’re reading my blog!)

For all of you that have FHA insured loans, the good news is that your lender must follow the FHA guidelines and regulations. If they aren’t following the guidelines and giving you the service and assistance that is afforded and protected to you then do what I do. Call 888-297-8685, and put your citizen on! Don’t let anyone intimidate you, this is your home and your money, protect it and fight for it. And here is a life hint, whenever you are dealing with someone on the phone or in person always get their full name. Trust me, when you ask for someone’s name their attitude tends to improve. Don’t wait till things have got heated either, just ask up front and more often than not they will be much more helpful. And make sure you have your 13 digit FHA case number, and if you don’t have it … ASK FOR IT! Ain’t like its a secret launch code, trust me you already paid for it. Hint: it is on your loan settlement statement.

For all you VA insured customers, the first step for you is online. Go to the VA Foreclosure Alternative page. You will find so much help and assistance that you won’t know what to do with yourself. For the .0006% of you out there that internet is just not your thing, Ring up your loan service representative. Open this picture and it is the listing to every call center in the US broken down by states. Of course you could click here and it will give you the same information.0002nK.jpeg

Finally, for all of those with conventional loans, call your HUD approved housing counselor at 800-569-4287. They love to help home owners with lenders that aren’t doing their responsibility helping you. Another number to put in your address book of life is 888-995-HOPE. This is the Homeowners Hope hotline, they specialize in helping homeowners with their lenders as well. You got some tools now, go use them and again, let me know how they help!

As always, please leave a comment. Like to hear from you!


How is the move-up and higher end market? April 22, 2010



Showing Signs of Life

Over the past several years, first-time buyers made up about 42 percent of the market. As a result of home buyer tax credits, those first timers represent close to 50 percent of buyers. However, increasing activity in the upper price ranges shows that buyers in the move-up/luxury market are sparking the housing recovery as well.

In King County, pending sales* of entry/first-time/move-up homes (those priced $599,999 or less) were up more than 100 percent
over last March. In the move-up/luxury market ($600,000+), pending sales were up more than 150 percent over last year.This is clear evidence that the move-up/luxury market is making a good recovery, especially when you consider that this market has not directly benefited from home buyer tax credits like the lower price ranges have.

Why is the move-up/luxury market improving?

• Buyers who are hoping to “time” the bottom of the market

• Low interest rates

• The increased affordability of jumbo loans

At this time last year, interest rates on a jumbo loan were in excess of 8 percent due to a large number of lenders exiting the jumbo market.Today, many of those lenders are returning, which has helped bring interest rates on jumbo loans more in line with conforming loan rates: near 5.5 percent. In addition, King County FHA loan limits are up to $575,500, which means that a buyer can purchase a home with as little as 3.5 percent down payment as long as the loan does not exceed $575,500.
There is clear evidence that the move-up/luxury
market is making a good recovery, especially when you consider that this market has not directly benefited from home
buyer tax credits. ”

With increasing optimism in employment numbers and consumer confidence, as well as the increasing availability of financing products,the housing market recovery should continue at a steady pace.And as we are already seeing,the recovery appears to be taking place throughout the price points, not just in the markets that have been bolstered by tax credits.

Screen shot 2010-04-22 at 4.05.49 PM.png

Hit me back with a comment please, I love’em!


Home sales up higher then expected

Filed under: Area info,Economy,Good News — Rolland @ 7:52 pm
Tags: , ,

31F6462B-68ED-424E-8309-B90F33E5ECB5.jpgHome sales rose more than expected in March, reversing three months of declines, as government incentives drew in buyers and kicked off what’s expected to be a strong spring selling season.

Sales of previously occupied homes rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million last month, the highest level since December, the National Association of Realtors said Thursday.

…The government is offering a $8,000 credit for first-time buyers and $6,500 for current homeowners willing to buy and move into another property.

For more … Click here!

Leave me a comment, love your insights and questions!


TARP funds to be tapped? December 8, 2009

Filed under: Economy,Mortgage Information — Rolland @ 10:31 pm

Couple of our leaders are thinking creative financing is not dead.  They are wanting to tap into the TARP funds to help distressed homeowners.

The idea is to take 3 billion to help those homeowners, while tapping another 1 billion for local and state governments to use to purchase foreclosed and troubled properties.  Additionally, giving bankruptcy judges the ability to make changes to interest rates and principal owed to creditors.  Needless to say, this has met with some resistance from the financial community.  "The combination of unemployment and foreclosures may be the greatest threat to our economic recovery," Waters said.

This week on the Hill, this is but one of more then 100 other proposed amendments to financial reform being introduced.  Some believe that this sudden move by members of congress, is coming from the Congressional Black Caucus, who have been putting the administrations feet to the fire on how unemployment and foreclosures are effecting minorities.  With only 6% of homeowners enlisted in the administrations foreclosure prevention programs, concerns that help is just not reaching people.  Fighting over the low numbers reported are circling around homeowners that have submitted paperwork to get on the program and that they are waiting approval to benefit from the program.  While the Treasury Department claims people are not submitting the paperwork and supporting documents correctly.  Seems like the dogs are chasing their tails.

In a nut shell, the financial sector is not happy, the government is in the middle (or so they are trying to) and the American homeowner is hanging on looking for help wherever it comes from.


Technorati Tags: ,


Forbes: America’s best states for business – October 3, 2009

Filed under: Economy,Good News,Marketing information — Rolland @ 9:13 pm
Tags: , ,

Forbes: America’s best states for business – “In the rankings of best states for business, Washington comes in second”



How to fight the property tax assessor August 31, 2009

Filed under: Economy,Good News,Making a Difference — Rolland @ 7:14 pm
Tags: , ,

How to fight the property tax assessor: “”

(Via .)

Remember, that not all municipalities are moving with great speed to correct your home assessment. But, it is your right to challenge the assessment and get it reduced. Contact your agent, they can make this process easier.

Rolland beach.jpg


First Time Home Buyer Program, The clock is ticking down August 25, 2009


Rate forecasting – What are you waiting for? August 21, 2009

Want to let you know that many experts are predicting a rise in inflation and consequently a rise in interest rates as a result of the government’s stimulus spending. These charts demonstrate just how historically low interest rates are. Take a look at where rates were in the early eighties – the last time inflation skyrocketed.

Hope these charts provide food for thought for anyone wondering if now is a good time to get off the fence regarding a home purchase or refinance!

200 year.png

20 year.png


Legislature approves loan program to give home-buyer credit early April 29, 2009

Legislature approves loan program to give home-buyer credit early: “”


Picture 6.png



Good news? Brighter future ahead? April 15, 2009

Filed under: Economy,Good News — Rolland @ 11:09 pm
Tags: ,

According to a pair of reports released yesterday, the real estate slowdown is still a serious drag on state and local revenues, thanks to significant sagging in real estate excise tax collections.

From the latest state revenue collection report (pdf):

Collections [for the March 11, 2009 – April 10, 2009 collection period] were $8.7 million (17.8%) below the March forecast.

Most of the forecast variance was in the real estate excise tax (REET), which came in $7.9 million (29.4%) below the forecast.

March REET taxable activity reported by the counties is down 47.5% year-over-year.

Meanwhile, the city of Seattle announced a series of cuts (pdf) to attempt to close the rather large budget hole created by flagging excise tax collections. The kicker is on page 8:

Cumulative Reserve Subfund (REET) Status

If I’m interpreting this document correctly, that’s an over $20 million budget shortfall—almost 30%—entirely due to real estate excise taxes (REET). Ouch.

The good news is now that home prices are approaching reasonable levels again, sales volume is likely to pick up, which will bring excise tax collections up as well.