local real estate news, statistics, and commentary without the sales spin.
As promised in last week’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s…
I received tips from two different people in the last few days about a recent change in FHA underwriting standards announced in a letter titled “Back to Work – Extenuating Circumstances” Quoting from the letter: As a result of the recent recession many borrowers who experienced unemployment or other severe reductions in income, were unable…
This poll was active 08.18.2013 through 08.24.2013
As volatile as interest rates and home prices have both been this year, I thought it would be good to make the affordability index more of a regular post. So how does affordability look as of July? Not great. The index fell below 100 (i.e. the median-priced home is affordable to a median-income household) for…
It’s time for our detailed look at July’s foreclosure stats in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: July 2013 King: 548 NTS, down 44% YOY Snohomish: 282 NTS, down 40% YOY Pierce: 429 NTS, down 16% YOY For the first time since June of last year, all three…