Apparently it’s Condo Tuesday on Seattle Bubble… A few days ago, Susan Ryan posted an interesting warning over at Seattle Real Estate Professionals about a number of sleazy tactics being used to push condos: I have two clients looking for new condos, studios or one bedrooms in downtown Seattle, and there is something I’ve come…
Condo Cheerleading Continues
A pair of articles over the weekend joined forces to paint a rosy picture of the Seattle home market in general, and the Seattle condo market specifically. First, a proud moment for the “Seattle is Special” crowd, with this mention in a national article about slowing home sales: The correction in the U.S. housing market…
Interest Rate Change Misconceptions: Cap rates
“The interest rate on their mortgage had risen to 9.5 percent, from 3.5 percent three years ago. They didn’t have the equity or good credit to qualify for refinancing at a lower rate.” This quote was from Ben’s ‘the housing bubble’ blog this morning and it perfectly illustrates the misconception that I hear all the…
Pity for those with no "PITI"?
I’ve commented on this before at Inman News and other blogs, but it deserves it’s own post. Here is an exerpt from my letter to the editor: To help borrowers qualify for a home loan and to get payments in line with a lenders loan program, it is necessary for the taxes and insurance to…
More Editorial Truth Spotted In The P-I
Last week when Bill Virgin snuck an uncomfortable Seattle real estate truth into a sports opinion column, I was surprised. Today, when I read a P-I editorial titled ‘Easy credit driving housing prices?‘ I just about fell out of my seat. Deep in the Commerce Department’s report are even more troubling concerns: The personal savings…