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Home Buying in 98103 : Real Estate Advice

  • All40
  • Local Info2
  • Home Buying20
  • Home Selling3
  • Market Conditions0

Activity 13
Tue Nov 7, 2017
Elida L. Flores answered:
0 votes 12 answers Share Flag
Mon May 22, 2017
Sillylittlenunu asked:
Mon Jul 14, 2014
Dorene Slavitz answered:
For your own safety and protection I recommend you hire a Real Estate Attorney as well as an accountant for the tax issues. Realtors are not experts in either fields.
1 vote 5 answers Share Flag
Thu Feb 20, 2014
NWLoanGroup answered:
As some of the other members here have stated, the 2 most popular no money down options are VA and USDA. The VA loan is eligible only to active duty or former military members and their spouse. The USDA mortgage option is available in certain areas, you view a map of the areas this program is available by clicking here and selecting a county in which you are shopping in ... more
0 votes 13 answers Share Flag
Fri May 17, 2013

As others have noted in thier responses, the VA has a zero down option if you have eligibility. Depending on where you want to live, USDA loans also have a zero down option for purchasing a home.

Alternatively, you can utilize the FHA and a family member can gift the entire 3.5% minimum down payment.

In Washington, you may also qualify for the Washington State Housing Financing Commissions Home Advantage program for home buyers. This program allows silent 2nd mortgage to cover the cost of your down payment up to $10K.

I hope this is helpful, if you have more questions please feel free to contact me directly.

Good Luck!

Jon Bruch
HomeStreet Bank
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0 votes 5 answers Share Flag
Tue Apr 2, 2013
Jirius Isaac answered:

Good luck to you in any case,
Jirius Isaac
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction
... more
0 votes 5 answers Share Flag
Tue Dec 21, 2010
Bill Eckler answered:

The information you have been provided with is accurate. Additionally, if the builder was supporting community services, as most do prior to completion, it is likely that these costs are going to trickle down to the homeowners. Thus, the community fees may increase or your level of community amenities may be decreased.

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Fri Aug 20, 2010
Ardell Dellaloggia answered:

I have not seen a buyer have to pay taxes in a short sale. They may ask a buyer to do that...but that does not mean it can't or will not close when the buyer says no. Usually on an IRS lien, it can be removed from the property. As to real estate and escrow taxes, the lienholder usually backs up their payoff requirements.

Suggesting the buyer should pay them is not the norm for the agent for the buyer, even though the agent for the seller may ask them to.
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1 vote 7 answers Share Flag
Tue Jun 29, 2010
Ardell Dellaloggia answered:
I just read some of the answers below. Currently appraisers are using no more than 6 months old (and rarely use longer periods ever). Recently to be a bit tighter they like one sale to be within 60 days and one to be within 4 months. Given the area if it is 98103, you shouldn't have any trouble finding comps this time of year...but you may want to weigh in the factor of "after tax credit" vs before the tax credit expiration. ... more
0 votes 12 answers Share Flag
Wed Jun 2, 2010
Rob Graham answered:
Take a peek at the king county parcel viewer.

I love that site. Lots in that neighborhood range from 3,500 to 7,000. Most have been subdivided. The shape of each varies wildly. Some run street to street and some are long and skinny. Lots are condos and townhouses now.

Good Luck.
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0 votes 6 answers Share Flag
Thu May 27, 2010
Karen Hunt answered:
Hi Jill,
The other thing about being north of 85th other than it's getting farther from the Seattle epi-center is that there is less of a neighborhood "feeling" to it. Actually like Ardell says probably up to 95th or even 100th is still walkable to the Greenwood neighborhood but less shops, coffeehouses, restaurants, etc. as you walk. And you do get larger square footages in both the home and the lot the further you get out of the city. ... more
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Thu Apr 29, 2010
Coco answered:
I purchased a condex in Newport, RI back in 2008 and yes the process was a headache! I got it for a great price, so it was well worth it. I could only get a conventional loan through BOA. I have no HOA fees persay associated with it, but in order for the underwriter to approve it, I had to have HOA insurance that covered the common areas of the property in case of any accidents. Trying to find insurance to cover that was the most frustrating part, but luckily I had a great real estate agent and loan officer. So my HOA fee is really only the cost of the insurance which is $1500 a year. So split between myself and my neighbor, it's $750 a year. However, my neighbor was there for 3 yrs prior to me and no one had ever lived in my unit, so he got away with paying insurance all those years and he was pretty upset when I moved in, because the bank forced me to get it. But now, I own the deed of the property, the insurance is in my name and he pays me and everything worked out fine!

Not sure about the common set up but I have 3 1/2 baths, 3 bedrooms, and a one car garage..but not an eat in kitchen :(
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1 vote 11 answers Share Flag
Tue Jan 26, 2010
Ardell Dellaloggia answered:

I think the best bet is for the buyer to purchase a builder's warranty (many builders subcontract that out anyway) like 2-10 warranty, and deduct it from the purchase price. I don't think it helps with that 1 year little stuff. But worth looking into.

Of course the bigger problem is the holdup in "no HOA", especially if the units are less than 80% sold.
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