Chuck and Diane reiling have set up an independent real estate brokerage firm called Veritus Realty Group to serve their clients and friends in the greater Seattle / Bellevue area.
Posts under ‘General Information’
A Tale of Two Studies
I have seen a couple of studies recently which came to radically different conclusions about the future of the Greater Seattle Bellevue real estate market – one by Goldman Sachs and one by MacroMarkets
The Shape of the Eastside Residential Market
Ever so often someone asks me about the number of houses available in a particular price range. Typically it is not an idle question; it is more like the opening round in a discussion about what it would be like to try to sell their house right now. Depending on their price range, we often [...]
My Mortgage is Underwater. Now What Do I Do? . . . . . . . The Series Summary
An overview of the options available to someone whose mortgage is underwater – from sit-tight and loan modification through short sale, deed-in-lieu, and strategic default; or, finally, foreclosure.
My Mortgage is Underwater. Now What Do I Do? . . . Option 6 – Foreclosure
In the previous articles in this ‘My Mortgage is Underwater. Now What Do I Do?’ series, we discussed Option 1 – Sit Tight in the first article. Then we discussed some options you might pursue if you didn’t have the income or the savings to be able to continue to make your mortgage payment: Option 2 – Loan [...]
My Mortgage is Underwater. Now What Do I Do? . . . Option 4 – Deed in Lieu of Foreclosure
In the previous articles we introduced this ‘Now What Do I Do?’ series, and discussed Option 1 – Sit Tight, Option 2 – Loan Modification, and Option 3 – Short Sale.
If you really can’t make your mortgage payment, not even reduced ones, and you’ve tried to do a short sale and it hasn’t worked, then maybe by [...]
My Mortgage is Underwater. Now What Do I Do? . . . Option 2 – Loan Modification
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 [...]
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 [...]
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 [...]
Time for First-Time Buyers to Get a Move On!
If you know someone who is a first-time buyer and thinking abour buying a home now in order to capture that $8,000 tax credit, tell them to get moving!
The credit, which is really a straight $8,000 rebate, only applies to purchases closed and recorded by November 30, which means they need to have a signed [...]