In the previous article we introduced this ‘Now What Do I Do?’ series, and discussed Option 1 – Sit Tight. That works if you can still afford the mortgage. If you can’t, we need to go to Option 2 – Loan Modification.
Banks and other mortgage lenders may be willing to consider a loan modification if [...]
Posts under ‘For Buyers and Sellers’
My Mortgage is Underwater. Now What Do I Do? . . . Option 2 – Loan Modification
My Mortgage is Underwater. Now What Do I Do? . . . Option 1 – Sit Tight
This new real estate ‘technical’ term underwater is getting quite a bit of press lately, and unfortunately it applies to a lot of us. What it means is “my house is no longer worth as much as I owe on it.” It means your equity is gone, and it also means that you can’t easily [...]
February ’10 – Reiling’s Real Estate Market Report – Greater Seattle / Bellevue / King County Area
Real Estate Market Overview
Our Greater Seattle real estate market is continuing to look solid on a price basis, and continues to show the usual seasonal inventory patterns through the beginning months of the year. The level of Closed Sales, i.e. purchase transactions completed, continues to be seasonally strong. Closed sales levels for single family homes [...]
Whither Interest Rates?
There’s sure a lot of stuff being written these days about interest rates, and it certainly is a legitimate hot topic. The most common view, often espoused by real estate agents and mortgage lenders, is that rates may go up significantly in the second half of the year – so you should buy now. While [...]
The Move-Up, Downsize, Move-Around Tax Credit
Thinking of moving? If you are or recently have been a homeowner, this $6,500 tax credit is for you.
Many people are now aware of the First-Time Homebuyer Tax Credit. Not nearly as many are aware of the similar tax credit for current and previous homeowners.
The tax credit, $6,500, is paid back to you through the [...]
Reiling’s Real Estate Market Report – 2010 – The Year Ahead
2010 – The Year Ahead
Our greater Seattle-Bellevue real estate market is really in a state of flux right now, with lots of opposing forces trying to push parts of it around. In the Market Overview section below I will try to show what those opposing forces are, and then in a following series of posts [...]
What’s Going On With The Seattle / Bellevue Condominium Market?
The graphs below are the result of a study I did on the condominium market in the greater Seattle / Bellevue urban area, including all of Seattle and the Eastside from Renton Highlands to Bothell and out to Sammamish. The first chart is a fairly traditional graph of the overall condominium Months Supply in this [...]
November ‘09 – Reiling’s Real Estate Market Report – Greater Seattle / Bellevue Area
Bellevue Greater-Seattle Redmond Kirkland
Homebuyer Tax Credit – Now for Move-Up Buyers Too
This newly-signed legislation contains quite a few parts, including a new tax credit for move-up buyers as well as extension of the timeframe for first-time buyers:
(Thanks to MMG for this excellent summary)
- Extended Timeframe for First-Time Homebuyers
- New Tax Credit for Move-Up Homebuyers
- Higher Income Caps
- Tax Incentives for Energy Savings
- Expanded Housing Assistance
Tax Credit [...]
October ‘09 – Reiling’s Real Estate Market Report – Greater Seattle / Bellevue Area
Real Estate Market Overview:
Our real estate market is continuing to look solid, with good statistics and increasing good press. There is quite a bit of good news in terms of number of new purchase transactions completed, and Days-On-Market (the average time it takes to sell a home) continues its welcome decline. However, some of that [...]