Good News – Nationwide Mortgage Delinquency Rates are Down

Matthew Gardner, Windermere Real Estate’s Chief Economist, is back from vacation (sporting a new look) and talks about the relatively unknown U.S. Household Debt and Credit Report. While this may not sound very sexy, it actually contains interesting information. The report provides insights and data on national housing finance. Not surprising, mortgages and student debt represent the largest debt numbers, but the good news is that mortgage delinquency rates are down. Take a quick look, and have a great week.

 

Posted on August 24, 2020 at 11:35 AM
Robin Myers | Category: economy, real estate, Windermere Real Estate | Tagged , , , , , ,

Urban Pet Potty Solution – Perfect for Condo Living

Bellevue townhome courtyardI like to support local businesses, especially these days, and this one has special importance as a townhome owner with a pet. Condo Pet Pals has been a lifesaver. I live downtown and while I walk my dog several times a day, sometimes there isn’t enough time between business appointments to fit in a walk. It’s also not nearly as much fun to walk in the wind and rain and there’s a safety issue when nature calls at odd hours of the night. I’ve worked with Condo Pet Pals for nearly four years – this is a great solution for urban pet owners and coping with foul weather and late night potty trips.

Condo Pet Pals provides a tray and fresh grass delivered to your deck, patio, courtyard or garage. (Not “fake” grass that can retain odor.) Tray size options are available as well as a bi-weekly or weekly delivery schedule depending on the size or number of dogs. The crew is efficient, always on time and quickly remove soiled sod and replace it with fresh new grass. The soiled grass is taken back to their facility and composted or used as fill. Its an ecologically friendly and sanitary alternative for keeping your pet’s potty area fresh and clean. (Keep poop bags handy for clean-up of solid waste.) It took no time for my dog to figure out this was his personal potty space  –  even bought a little fire hydrant to improve his aim.

Love the convenience and the sanitary, odor-free, safe alternative for both my dog and me – makes those occasional midnight potty trips a lot easier and safer too.

https://www.condopetpals.com

 

 

 

 

 

Posted on August 15, 2020 at 9:00 AM
Robin Myers | Category: Bellevue condominium, condominium speciaist, downsizing, lifestyle, pet services, Windermere Real Estate | Tagged , , , , , , , ,

Selling Your Condo? Here’s Why the Condo Resale Certificate is Important

What is a Resale Certificate?

The condominium resale certificate is a critical part of every condo sale.  Condos  and homeowner associations are governed by documents that outline the duties and responsibilities of the homeowner and the community. When a buyer purchases a condo they are entitled to review those documents. The “resale certificate” is a 5-6 page summary supported by many other documents that contain information and disclosures that include the HOA’s governing documents (Declarations, ByLaws and Articles of Incorporation), budget and financial reports, assessments, reserves, reserve study, rules and regulations, pet and rental restrictions, meeting minutes, etc.

Why is a Resale Certificate Needed?

In Washington State the seller is required by law to deliver a current resale certificate to a buyer for review and approval. If not approved, the buyer may terminate the sale. The buyer’s lender will also review sections of the resale certificate as part of the buyer’s loan approval.

 

Who Prepares the Resale Certificate?

The documents are prepared by the HOA’s association manager (or a board member if the community is self-managed). The resale certificate is ordered by and paid for by the seller. Anticipate a fee of $275+.

In Washington State the seller is required to deliver the HOA resale certificate to the buyer per the terms of the Purchase and Sale contract (within 10 days unless otherwise specified). The buyer, once the package has been received, has five days to review the information and either approve or disapprove the resale certificate. If the buyer does not terminate within 5 days the resale certificate contingency is automatically waived.

I frequently review resale certificates and understand the importance these documents have for sellers, buyers and the successful sale of a condominium residence. If you have questions or need additional information, feel free to contact me.

 

 

Posted on August 13, 2020 at 8:00 AM
Robin Myers | Category: buying a home, condo resale disclosures, condominium speciaist, condominiums, selling a home | Tagged , , , , , , ,

Interesting Look at Historical Data Regarding US Home Ownership

This week with Matthew Gardner  –  interesting information on historical data regarding US home ownership rates. Millennials still represent the greatest increase in home ownership in the last year.

 

 

Posted on August 11, 2020 at 12:44 PM
Robin Myers | Category: condominium speciaist, housing market, real estate, Windermere Real Estate | Tagged , , , ,

Understanding the Case Shiller Home Price Index

This week Matthew Gardner, Chief Economist with Windermere Real Estate, explains the Case Shiller Home Price Index which has accumulated data over the last 130 years of home prices in 20 major cities in the United States.

 

 

Posted on August 4, 2020 at 2:37 PM
Robin Myers | Category: condominium speciaist, economy, real estate, Windermere Real Estate | Tagged , , , ,

How’s the Real Estate Market?

townhomesHow’s the Real Estate Market?

This is a question I hear a lot. Real estate was dormant this spring due to the coronavirus pandemic. Since mid-May the housing market has made a robust and positive rebound.

The number of buyers currently in the market far exceeds the available inventory of homes for sale. Why are so many buyers searching for homes? Record low interest rates give buyers more purchasing power. They’re taking advantage of those low interest rates to purchase a first home, move up to a larger home or, since we’ll be working from home/learning from home for many months to come, find a home that is a better fit for changing live/work/learn lifestyles. We are fortunate to live in an area with a strong economy. Local and national companies continue to grow and recruit employees, but that growth is bringing more home buyers to the area who want to purchase a home.

Lifestyle needs change . . . job and workspace needs change . . . housing needs change. Right now housing inventory is the biggest challenge for buyers looking to purchase a home. It’s a competitive market. The shortage of homes is definitely tipping the scale in favor of sellers, and that trend is expected to continue through the end of the year.

If there’s a change or a move in your future . . . how can I help?

 

 

 

 

Posted on July 29, 2020 at 9:00 AM
Robin Myers | Category: buying a home, condominium speciaist, property values, real estate, selling a home, Windermere Real Estate | Tagged , , , , , , , , , , , ,

How Much Are Home Values Expected to Increase in 2020?

This week Matthew Gardner, Windermere Real Estate’s Chief Economist, provides an update to his 2020 housing forecast. Interesting economic information relating to the local and nationwide real estate market.

 

Posted on July 28, 2020 at 2:29 PM
Robin Myers | Category: condominium speciaist, condominiums, economy, real estate, Windermere Real Estate | Tagged , , , , , , , , ,

Summertime – Must Be Time to Go “Phishing”

photo courtesy flickr/gotcredit.com

Over the past week I’ve suddenly received several phone and email “phishing” solicitations. I’d like to blame it on a full moon, but that was nearly three weeks ago.

I’ve been contacted twice and advised my Amazon account had been locked due to suspicious activity. Two different people have called to tell me a credit card was being used in another state, that the police had been contacted, and they would need additional personal information to verify they were really talking to the cardholder so that they could assist me. I reached out to both credit card companies – no suspicious activity or security breach reported on my accounts. I also had a call trying to sell me new windows for my home. Told that caller my home has no windows. (You have to have some fun with these calls.) The best calls have been the three from people representing “investors” who are ready to purchase my house immediately – for cash. I had to play along with these calls too. Turns out the caller didn’t know anything about my home including where it was located, when it was built, the number of bedrooms, baths or square footage. After no doubt frustrating the caller for a few minutes, I let them know I was a Realtor® and that when it came to sell my home I had that covered.

Maybe with everything going on in the world scammers think this is an easy time to take advantage of people who might be feeling stressed or vulnerable. In my business escrow and title companies, banks and lenders continually deal with wire fraud. Bad people have figured out how to hack into emails, secure bank and corporate websites and anywhere else they think there might be a quick and dirty way to make money and defraud innocent people.

Be very careful. Be suspicious of phone calls and emails you don’t recognize or can’t verify. Caution and educate your children, parents and friends. If you question something, whether it’s from a friend, relative, business associate, bank real estate broker, escrow or title, and especially if you’re involved in a real estate transaction . . . verify the sender. It only takes a few minutes to protect yourself. It also only takes a few minutes for a wire transfer sent to a criminal recipient to empty a bank account, and those funds can be impossible to retrieve.

We have enough to worry about these days. Be safe. Verify. Verify. Verify. And while you’re at it, wear a mask. Take care of yourself, your family and friends.

 

 

 

Posted on July 21, 2020 at 9:30 AM
Robin Myers | Category: buying a home, home financing, home safety, online security, security, selling a home, Windermere Real Estate | Tagged , , , , , , ,

Matthew Gardner – The Importance of the National Housing Survey

Started in 2010, the information in the National Housing Survey contains information about consumer attitude, intentions and financial confidence as it relates specifically to housing.

 

 

Posted on July 20, 2020 at 3:27 PM
Robin Myers | Category: economy, housing market, real estate, Windermere Real Estate | Tagged , , , , ,

COVID-19 Impact on the Housing Market – You Might Be Surprised

Posted on July 13, 2020 at 2:09 PM
Robin Myers | Category: economy, home property values, real estate | Tagged , , , , , , , , ,