real estate

condominiums, home property values, real estate

2020 Real Estate Excise Tax Revision

The Washington State Legislature has changed the way in which real estate excise taxes taxes (REET) will be calculated. This change will impact real estate sales beginning next year. Starting January 1, 2020, the real estate excise tax, currently a flat 1.78% of the sales price paid by the seller at closing, will be calculated […]
condo financing, condominiums, first time buyers, home financing, real estate, supporting communities

NEW FHA GUIDELINES OPEN OPPORTUNITIES FOR HOME BUYERS

Condominiums are an important part of the housing market, especially for first time buyers. Often buyers have the income and credit score needed to purchase a home but lack a substantial down payment which can make entering the housing market prohibitive. In an effort to promote affordable homeownership for credit worthy buyers, the […]
condo financing, condominiums, first time buyers, home financing, real estate, supporting communities

NEW FHA LOAN GUIDELINES FOR CONDOMINIUMS BENEFIT BUYERS

Condominiums are an important part of the housing market for first time buyers. Too often buyers have the income and credit score needed to purchase a home but lack an adequate down payment which can make entering the housing market prohibitive. In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first […]
condominiums, Landlord-Tenant laws, real estate, rentals

Renting Your Condo? What You Need to Know About New Washington State Landlord-Tenant Laws

Washington State Landlord-Tenant Laws were revised in July that include new tenant protection laws relating to rent increase and eviction notices and changes to property use. If you currently have tenants renting your condominium (or house), or you’re thinking about renting your condo, here is a quick look at recent changes to the state landlord-tenant […]

condominiums 2020 Real Estate Excise Tax Revision The Washington State Legislature has changed the way in which real estate excise taxes taxes (REET) will be calculated. This change will impact real estate sales beginning next year. Starting January 1, 2020, the real estate excise tax, currently a flat 1.78% of the sales price paid by the seller at closing, will be calculated […]

condo financing NEW FHA GUIDELINES OPEN OPPORTUNITIES FOR HOME BUYERS Condominiums are an important part of the housing market, especially for first time buyers. Often buyers have the income and credit score needed to purchase a home but lack a substantial down payment which can make entering the housing market prohibitive. In an effort to promote affordable homeownership for credit worthy buyers, the […]

condo financing NEW FHA LOAN GUIDELINES FOR CONDOMINIUMS BENEFIT BUYERS Condominiums are an important part of the housing market for first time buyers. Too often buyers have the income and credit score needed to purchase a home but lack an adequate down payment which can make entering the housing market prohibitive. In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first […]

condominiums Renting Your Condo? What You Need to Know About New Washington State Landlord-Tenant Laws Washington State Landlord-Tenant Laws were revised in July that include new tenant protection laws relating to rent increase and eviction notices and changes to property use. If you currently have tenants renting your condominium (or house), or you’re thinking about renting your condo, here is a quick look at recent changes to the state landlord-tenant […]

condo financing Don’t Ignore Condo Resale Disclosure Documents In this fast paced, competitive real estate market, it’s common, in an effort to “win”, for buyers to waive contract conditions such as inspection, financing, appraisal, neighborhood review, etc. Buying a condominium is different than buying a house. With condominiums perhaps the most important contract condition in place to protect a buyer is the […]

property tax exemptions Property Tax Exemptions for Seniors It’s no secret – 2018 property taxes have increased substantially over last year. While rising taxes are a tough pill to swallow, Washington’s property taxes rank in the lower half nationwide, coming in at 29th. New Jersey is #1 and surprisingly Hawaii is the lowest. Did you know property tax exemptions are available for seniors? […]

downsizing Make Your Next Move with Minimal Stress Downsizing can happen at any phase of life and for many reasons. Moving, if it involves a major lifestyle change, can be an especially difficult and emotional process. Whether you’re moving yourself or assisting a family member or friend, there are ways to make the process easier and less stressful. Define, or Redefine Your Needs […]

home property values The Risk of Relying on Home Value Zestimates Earlier this month the Seattle Times reported on a recent Zillow Zestimate for a home in Belfair on the Kitsap Peninsula. The Mason County assessor’s value of the home was $283,000. The home recently sold for $225,000 (below market value because the home was headed for foreclosure). A Zillow Zestimate published the home’s value at […]

neighborhoods Changes Planned for the Overlake/Sears Property in Redmond http://www.redmond.gov/seritage Design and use changes are proposed for the existing Sears site in the Redmond/Overlake area. The rendering above and link to the City of Redmond website provides more information about the Seritage mixed use project. Preliminary plans for the 13 acre site propose office, retail, hotel, restaurants and residential plus approximately 2 acres […]

Bellevue Bellevue Condo Market Statistics Earlier this month I shared 2017 King County real estate market statistics supplied by the NWMLS. Median sales prices were up 15% county-wide (houses and condos) over 2016. Taking a closer look, here are the 2017 market stats for Bellevue condos: 759 condos sold in 2017 (resale and new construction), up from 746 in 2016 […]

Bellevue 2017 Local Real Estate Market Data The info-graphic above provides a quick look at 2017 King County real estate market statistics. nearly 3% more homes (condos and houses) sold in 2017 vs. 2016 the median sales price was up nearly 15% county-wide at the end of 2017 there was less than a one month supply of available homes a 4 – […]

Bellevue Time to Sell an Investment Property? Interest in rentals remains strong, but there’s been a noticeable slight decline in area rents this year. Even in high demand urban areas, rents have dipped slightly. With thousands of new apartments recently completed or nearing completion, and hundreds more under construction, rental supply may have begun to outpace demand. If you own a rental […]

carbon monoxide alarms WA State Requirements When Selling a Home This time of year buying or selling a home goes on the back burner while people focus on the holidays, family and friends. Locally real estate tends to take a break until our “spring” market ramps up in late January. When preparing a home for sale there’s a typical “to do” list that includes organizing […]

Bellevue Where Are the Bellevue Condominiums? An article in the Puget Sound Business Journal this week compared the available local condominium inventory to New York City. Granted, NYC is a much larger and more expensive market, but currently NYC has 388 condos for sale priced less than $500,00. At the time the article was written there were only five condos available […]

Bellevue Buying a Home with Less than 20% Down It’s a common misconception that a minimum 20% down payment is required to purchase a home. Buyers, saving to put 20% down on a home purchase, could be missing the opportunity to buy a home, and instead are watching prices continue to escalate. There are excellent loan programs available with 5% or 10% down (even […]

Downtown Bellevue Does Commute Time Impact Home Value? How does commute time impact local home values and buyer’s decisions on neighborhood selection? According to the US Census, Americans rank having a short commute second only to low crime rates when it comes to determining where to buy or rent a home. One study found that New Yorkers will pay nearly $60 more a […]

Bellevue 2016 Strong for Condo Sellers With only 24 resale condos listed for sale in downtown Bellevue there are very few choices for buyers ready to purchase. (Add in the 39 developer owned units still available at Washington Square and the total is barely over 60 in the entire downtown marketplace). Inventory is at historic lows, prices are at or near […]