High end homes selling better?

Posted on July 29, 2008 by Annie

Is it just me, or does it seem like higher priced homes are selling faster than those in the median price range?

Up in my neck of the woods, we have several newer developments where homes are priced at or above $650,000 and several where homes are in the $300,000 range. Yet, it seems like those large, fancy ones are selling better.

I wonder if it’s because people are tired of living in sardine can neighborhoods? Or is it because those folks with enough money to be considered “well-off” aren’t having as much financial crunch as those average folks?

Any thoughts? I’d love to hear what you think.

~ Annie

Posted in miscellaneous, real estate, thoughts | Tagged , , , , | Comments Off

Have you heard about the 10 grands?

Posted on April 8, 2008 by Annie

I love jazz music and listen to our local KWJZ station here in Seattle. I heard over the weekend that this year the 10 Grands concert is coming to Benaroya Hall on May 17th.

If you haven’t heard of the 10 Grands, it’s a concert featuring 10 grand pianos played by well known musicians like David Lanz (one of my favorites), Deems Tsutakawa (a local artist), Tom Grant and several others. There’s even a meet and greet before the show and tickets for the whole thing are $75 including the meet/greet through KWJZ’s special pricing. I think I’m going to surprise my mom with tickets for Mother’s Day. She’d love that!

Concerts are always fun things to do in Seattle!

~ Annie

Posted in fun, northwest | Tagged , , | Comments Off

In Seattle today

Posted on April 2, 2008 by Annie

I just read an interesting article in the Seattle PI about foam food boxes and such possibly being banned. While I do agree that helping protect the environment is a smart move, I’m not a fan of this proposal. The major reason I do not agree is, what about people who on food stamps?

As someone whose family used to have food stamps, I can’t see how this helps them. They already have meager finances and to have even .20 cents x how many bags of groceries they have added to the mix, it can mean make or break for them. What about those times between paydays when they’re down to their last few dollars and have to choose between putting gas in the car to get to work and putting food on the table? Will have to choose to provide less food for their families because they can’t afford $2 for grocery bags? Or is this a cost that will be allowed to be paid for with food stamps for these people?

I’m sorry but this just doesn’t sound productive to me. The gap between poverty and wealth keeps getting larger and moves like this are a part of that reason. And it seems like moves like are becoming more than just a part of the reason – it’s becoming the major factor.

Wrong and sad.

Here’s the article from the PI.

Sorry for the soap box rant. ;-) Have a great day!

~ Annie

Posted in news, northwest | Tagged , , | Comments Off

Opinion: Foreclosure crisis

Posted on March 31, 2008 by Annie

After reading and hearing about the foreclosure issues facing lenders and homeowners alike lately, I’ve come to the conclusion that there are some misconceptions out there. I’d like to say a few words . . .

While it is true that many of those properties in foreclosure are owned by folks who bit off more than they could chew, there are a good number of properties owned by honest, hard working people that have hit hard times. I hate that some people think that only people who bought with zero down at high prices and bought more than they could truly afford are the ones in foreclosure. Simply not true.

Case in point: I have a friend I’ve known for literally most of my life who bought a house about 20 years ago and has until the past year, had an excellent job. She’s paid her mortgage faithfully for those 20 years and refinanced a couple of years ago to pay off her student loans.

Last year, she lost her job when she had to go back to school to update her degree. Her former employer promised to re-hire after she finished and to date, they have not.

Now, please don’t tell me it’s only dumb idiots who are facing foreclosure or that just because a person is facing foreclosure, they must be a dumb idiot who bought more than they could financially handle and they deserve to lose their home. That totally pisses me off, quite frankly.

Homeowners do deserve some form of help and I certainly hope they are allowed some.

~ Annie

Posted in real estate, thoughts | Tagged , | Comments Off

Is now a good time to buy a home?

Posted on March 28, 2008 by Annie

With the current mortgage and foreclosure crisis, is right now a good time to buy a home?

It seems this is a question many people are asking. And many sources point to this being the case – the Fed has once again lowered interest rates, there is possibility of government backed bailouts for homeowners and home prices are falling in most areas. I’ve even seen this in my county where typically home values have risen more than 6% annually (and sometimes 6% every six months) for several years now.

KeyOn average, home prices have dropped 11% recently. This is quite huge. Coupled with the current 7-8% mortgage rate for the average borrower (5-6% for those with excellent credit), and the amount of house you can buy for the money has risen signifigantly.

It could definitely be a good time to buy a house. CNN Money has also mentioned it’s prime time for vacation home or second home shopping as well. There are some real bargains to be had.

However, this doesn’t mean one should go rush right out and buy the first thing they like – now is the time to do “due diligence.” Shop slow, shop around and watch out for any unfair practices in the lending industry.

I’ve heard it mentioned several times lately that some lenders are not providing Truth in Lending documents within the 3-day requirement. When questioned, borrowers have been told it will come with the loan documents at closing. This is totally wrong. The lender has 3 days from the date of application to provide the TIL to borrowers. Should this happen to you, kindly ask the lender if it was just misplaced or overlooked and to please send you another one. If they make excuses, they’re trying to hide something and you would be wise to demand it be disclosed immediately. Be fair about it, but be firm.

You know, it’s interesting to note that many of todays real estate millionaires got started back in the 80′s during the mortgage meltdown. Play right and perhaps you could be one of the next set of RE millionaires in 20 years. You can bet we are on the lookout for good deals and will snatch up any we see.

~ Annie

Posted in real estate | Tagged , , , | Comments Off