When Will Real Estate Bottom?

After one of the most challenging Real Estate downturns in history, many people have only one major question that they want answered... "when will we see prices hit bottom?"

We can only speculate about when the turnaround will take place, but most professional economists are hinting at a price bottom in the second quarter of 2009. In Seattle, we can expect home prices to dip another 6-10% between now and then - followed by a recover that will drift around the rate of inflation over the next several years. That being said, many properties, both distressed and otherwise, have already taken a huge hit on price. This fact, combined with record low interedt rates and near record high inventories create one of the best BUY NOW markets in history.

If you can qualify for a loan, which is still easier said than done for most people, then you should be out there right now looking for your next great investment. Until recently you needed almost 50% down on investment properties in order to receive enough income to have the building pay for itself. What are the numbers now??? let's just say that things are looking great for anyone with the means to buy!

For more information on Seattle Real Estate, Shawn Filer, or Coldwell Banker Bain, please visit www.shawnfiler.com

 

 

Daily Real Estate News  |  September 5, 2008

Mortgage Volume Up 7.5%, Rates Down

The Mortgage Bankers Association reports a 7.5-percent increase in home loan demand during the week ended Aug. 29.

The index indicates a 10.5-percent jump in purchase applications and a more modest 2.1-percent rise in refinancing requests.

Additionally, the group's index tracking mortgages backed by the FHA surged 19.9 percent. Refi demand accounted for 34 percent of all application volume and adjustable-rate loans accounted for 6.6 percent--versus 35.2 percent and 7.9 percent, respectively, the prior week.

The report also shows a drop in the 30-year fixed mortgage rate to 6.39 percent from 6.44 percent and a decrease in the one-year adjustable mortgage rate to 7.11 percent from 7.15 percent, while the 15-year fixed rate edged up to 5.96 percent from 5.94 percent.

Source: MarketWatch, Amy Hoak (09/03/08)

Daily Real Estate News  |  September 3, 2008

Mortgage Applications Rise for Second Week

Mortgage applications rose last week for the second week in a row. They increased 7.5 percent on a seasonally adjusted basis to 453.1 from 421.6 the previous week.

On an unadjusted basis, the index increased 5.8 percent compared with the previous week and was down 27 percent compared with the same week a year ago.

The refinance index rose 2.1 percent and the purchase index was up 10.5 percent. The increases coincided with a decline in mortgage rates.

• 30-year fixed-rate mortgages decreased to 6.39 percent from 6.44 percent
• 15-year fixed-rate mortgages increased to 5.96 percent from 5.94 percent
• 1-year ARMs decreased to 7.11 percent from 7.15 percent

Source: Mortgage Bankers Association (09/03/2008)

It’s here!!! www.shawnfiler.com is new for Fall 2008, filled with great Real Estate information and luxury listings from coast to coast.

Welcome to Washington Park Real Estate

Welcome to the new blog for Washington Park Real Estate... a place to find the latest property listings and discussions on the Washington Park neighborhood in Seattle, WA. Please check back soon for the official launch and in the meantime visit our sponsor at www.shawnfiler.com for current Real Estate information and listings.