With Q3 + 1 month now behind us, it’s time to take another look at the relationship between pending and closed sales. Recall that in Q2, a record-setting 15.9% of pending sales had fallen through and never showed up as closed sales. Here’s an update. The graph below shows quarterly King County SFH pending sales…
Author: The Tim
Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.
Highlights of the FHFA Streamlined Modification Program
Here are the basics of the latest mortgage bailout initiative from Fannie Mae and Freddie Mac that was announced today by the Federal Housing Finance Agency. To qualify, borrowers must: Have a loan owned or guaranteed by Fannie or Freddie. Owe 90% or more than the home is worth. Be 90 days or more behind…
Ask the Industry Insiders Why “It’s a Great Time to Buy”
I’m in the process of sending interview requests to some of our area’s prominent industry insiders that we frequently see quoted in the local media proclaiming that “now is a great time to buy” or other such sales pitches. We give these people a hard time on here for their comments in the local press,…
Government Loan Limits Lowered $60k for Seattle
As astute market observers may recall, back in March (pre-complete-government-takeover) the conforming loan limit for Fannie Mae and Freddie Mac-backed loans was bumped from $417,000 to $567,500 for the Seattle area (King, Pierce, and Snohomish counties). At that time, the local press was touting the new limits at “a big dose of first aid” and…
Local Discount Real Estate Service Showdown
As the housing market has slowed dramatically from the heady boom years of 2005 and 2006, the number of discount real estate brokers has been on the rise. While Redfin made a big splash in 2004, and continues to be the discount market leader, as the market tumbles other competitors continue to crop up. As…