Mortgage rates have been on steady decline in Seattle and Washington State since the start of 2012. But mortgage rates aren't the only homeowner expenses dropping - the closing costs associating with buying and/or purchasing a home have also dropped. And in 2012, Washington State's closing costs rank well, with loan origination fees and title & escrow expenses among the lowest in the country. According to Bankrate.com's annual Mortgage Closing Cost Survey, … [Read more...]
The housing market recovery in Seattle and nationwide appears to be sustainable. According to the Federal Housing Finance Agency's Home Price Index, home prices rose by a seasonally-adjusted 0.7 percent between May and June 2012. The index is now up 3.0% over the past 12 months, and made its biggest quarterly gain since 2005 last quarter. The FHFA's Home Price Index measures home price changes through successive home sales for homes whose mortgages are backed … [Read more...]
August Home Sale Rise at Snoqualmie Ridge - Upward Momentum Building Again? After a somewhat surprising early-summer cool down, and the slight bounce-back we spoke about in August's real estate update for Snoqualmie Ridge, it appears we've picked up momentum again, as homes sales for pre-owned, single-family homes in August jumped up, with more closings than we've seen in over a year! (How quickly things change...) Typically, fewer potential sellers list their homes in … [Read more...]
Thinking of buying a home in Seattle soon? For today's home buyers, the value of "good credit" has never been higher. Virtually all Mortgage loan approvals will depend on your FICO score, as does your final mortgage rate, which varies depending on what range your FICO score falls into. If you're shopping for a home in Seattle, or contemplating a refinance, be aware of how credit behaviors can affect your FICO score. Even small events can make a big impact. For … [Read more...]
Home prices continue to rise nationwide and in the entire Seattle metro area - and in our observation, this is clearly evident in the prices for new homes in the Issaquah Highlands. New home construction in the Highlands has really taken-off during the past several months - and in at least one particular case, since March, new home prices are up as high as 17.5% - yes... you read that right. Huge Demand for Polygon Homes at Forest Ridge One community in … [Read more...]
