Live Near Home Plate?

An article from the Seattle PI discussing a new development project for lofts near Quest Field and Safeco Field. This is one of several projects that have their eye on developing the SODO area and making it a more livable area of Seattle. And you wouldn't have to fight traffic in order to catch a Mariners game!

Read the full article here.

Title Insurance Law Suit

This is a fairly big story in the real estate world. Basically, a law suit has been filed against all but one title insurance company in Washington state. The claim states that title insurance companies have in some fashion, agreed not to compete based on rates given to consumers.

A note the article doesn't mention is the value given to the consumer. An insurance policy for a $300,000 property is approximately $864 for the life of the loan. One year’s insurance on a $30,000 car is approximately $1,000-$1,200 depending upon the insurance carrier. It’s evident that title insurance is a great value to the homeowner.

At any rate, this story could affect the buying and selling of real estate...so stay tuned!

Read the full article here.

Any Investors out there?

I found this article very interesting and insightful for anyone that has thought of investing in rental properties. I am involved with managing a medium-sized apartment complex in Wallingford and know that vacancy (for that building) is rare.

According to the author, demand for apartments appears to be continuing for the near future.

Read the full article here.

Helpful Hints for Homeowners...

So far this blog has been a site for real estate related news stories. This trend will likely continue as I hope readers will start coming here for a quick dose of what's going on in Seattle as well as nation-wide.

This article is from the Seattle Times and has helpful ideas for any homeowner.

Read the full article here.

The Good and the Bad...

So here is a story getting play in the local media. Seattle area housing posted its first year to year price decline since 1991. The price of a typical Seattle home is down 1.3% from January of last year. This is not a big drop but it is a drop.

However, homeowners that have owned for a few years are still holding onto significant gains in appreciation...and current buyers may start to see more appealing prices. Key word here is: "may."

At any rate, this will be an interesting trend to follow throughout the spring and summer.

Read full article here.

Urban Sprawl

An article from the Seattle Times discussing the transformation of Seattle neighborhoods as development gets pushed to the outskirts of the city.

The author discusses the Georgetown community and their resistance to change. I'd be interested to hear from people that have been affected by growth and development in the Seattle area. I'm sure there will be a lot of people in South Seattle, for example, that will move elsewhere as the city continues to revitalize that area with sound transit as well as new housing and business opportunities.

Read Seattle Times article here.

Another Good Read...

Trust me, I won't be able to keep up this posting pace for very long...but I have several insightful articles about what's going on in the market right now. This is a Time magazine article that discusses the pros and cons of buying now or waiting for potential price drops later in the year.

The author basically argues that by waiting for further price reductions, buyers might miss out on low mortgage rates. If and when the Fed starts to jack up rates to curtail inflation...any supposed savings in purchase price is lost in a higher rate. A buyer may even lose money over the life of a loan with a higher rate!

This isn't to suggest racing out and buying a house before your ready is a good idea. But if you have money saved and are emotionally ready to invest in your first home or "move up" due to a future addition to the family...now might be the perfect time.

Read the full article here.

Downtown Office Space

An article from the Seattle PI about Seattle office space. While I'm not an expert on the commercial real estate market, I like to have a general sense of what is going on with commercial properties. If job growth is high, businesses need more space...which then trickles down to the need for housing in and around the downtown area.

Read the full article here.

Existing Home Sales Rise in February!

Here is a good article from the National Association of Realtors that discusses how the housing market is beginning to stabilize nationwide. Of course, Seattle has continued to be one of the three strongest markets (Portland, OR and Charlotte, NC are the other two) in terms of positive growth rates for home values.

If you have been thinking about buying a home...now is the perfect time! Just like any other commodities market, real estate moves in a cyclical fashion. Don't miss your opportunity to score a great deal...

Read the full article here.