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Seattle : Real Estate Advice

  • All1K
  • Local Info115
  • Home Buying470
  • Home Selling96
  • Market Conditions46

Activity 1,362
Sarah Masono, Home Buyer in Santa Clarita, CA
Fri Jan 20, 2017
Sarah Masono answered:
Very vague question. I would consult with a contractor to figure that out. Can range anywhere depending on what fixtures you want in the home.
0 votes 1 answer Share Flag
Bryan Lagos, Home Buyer in Apopka, FL
Sat Jan 14, 2017
Bryan Lagos answered:
Good God! Sept 30, 2007? I hope that you didn't buy anything for a few years. I purchased a home in early 2005 and still haven't reached break-even.
0 votes 25 answers Share Flag
Arsenalloanc…, Home Buyer in Avondale, AZ
Wed Dec 28, 2016
Arsenalloancenter answered:
Angelica P, Home Buyer in Seattle, WA
Wed Dec 21, 2016
Angelica P answered:
Hi,

I have emailed you regarding your concern.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Maricris A, Other/Just Looking in Seattle, WA
Wed Dec 21, 2016
Maricris A answered:
Hello,

I have emailed you regarding this concern.

Regards,

Maricris
Consumer Care Advocate
0 votes 1 answer Share Flag
Clark Nieddu, Home Buyer in Martinez, GA
Fri Dec 16, 2016
Clark Nieddu answered:
Speaking from two different experiences, I'll give you two different answers:

First of all, my experience: in order for me to get a mortgage, the lender required that we pay off one of our two vehicles to bring down the debt:income ratio. A family member gifted the money to us. Our lender required that the donor sign a statement saying that the money was a gift and in no way requires a repayment of the money from us. The donor was also required to include their bank information: bank name, address, and account number. Since my family member wasn't comfortable with releasing his account information (he used a cashier's check to give us the money and so neither his name nor his account info was on the check), my lender required that he have his bank sign a memo on bank letterhead stating that the money came from his account and he had sufficient funds to cover it.

The second scenario is from my brother. His father-in-law sends him and his wife a significant check every year to encourage my brother and his wife to buy a plane ticket to visit them. His bank required proof of where the money came from and was also stating that they are going to require his father-in-law's account information. His father-in-law outright refused to give it, and my brother went back to his bank and told them that they could either move forward without it or my brother and his wife would just find another bank. His bank moved forward without the information.

Based on my brother's experiences and based on research my brother did on the Patriot Act (which is what has been thrown at me by my lender whenever I ask about it), I have concluded that it's not an actual requirement but a very very strong preference.

I think that at the end of the day, you just have to realize that the bank isn't required to give you a loan and if you want that loan, then you will likely need to be willing to give them whatever they want, unless what they're asking for is somehow illegal.
... more
0 votes 10 answers Share Flag
Luciamaldona…, Home Buyer in Seattle, WA
Thu Dec 15, 2016
Luciamaldonado answered:
i have an offer as a general contractor in Mercer Island but I dont know how much is the market now arround there, is in the framing area. could you please help me with this
0 votes 23 answers Share Flag
Ddd31, Home Buyer in New York, NY
Thu Dec 15, 2016
Ddd31 answered:
Which would bring more value at selling an updated kitchen or an extra bedroom?.
Thanks
Donna
0 votes 18 answers Share Flag
Maricris A, Other/Just Looking in Seattle, WA
Wed Dec 14, 2016
Maricris A answered:
Hello,

Once you edit your listing on Zillow, it will automatically update on Trulia within 24 hours.


Regards,

Maricris
Consumer Care Advocate
0 votes 1 answer Share Flag
Shawna Hale…, Renter in 27513
Sat Dec 10, 2016
Shawna Hale Or Ryan Bennett answered:
I am in Raleigh, North Carolina and just moved into a bank owned rental home. The realtor told us they had at least a thousand properties. They do exist,and I had never heard about bank owned rentals prior. ... more
0 votes 19 answers Share Flag
Kary Krismer, Real Estate Pro in Renton, WA
Thu Dec 8, 2016
Kary Krismer answered:
Consult an attorney, but if they forgot or missed paying off a lien that you owed, you probably owe them.
0 votes 1 answer Share Flag
Kary Krismer, Real Estate Pro in Renton, WA
Sun Dec 4, 2016
Kary Krismer answered:
Besides your loan costs, the other major buyer closing costs are the cost of title insurance for you lender (the seller pays for your title insurance) and half the escrow/closing agent fee. There are also lots of little charges, like recording fees, and then some pre-paids, like a few months of real estate taxes (depending on when you close and whether the lender will be collecting taxes) and property insurance (either inside or outside of escrow). ... more
0 votes 2 answers Share Flag
Michael Ross, Real Estate Pro in Seattle, WA
Sun Dec 4, 2016
Michael Ross answered:
That zip code is a pretty diverse one. It includes waterfront homes in Leschi that sell for many millions as well as the now-hot, up and coming neighborhood of Beacon Hill and the rapidly gentrifying Central area.

I agree with Kary that the price-per-square-foot metric should not be used for residential resale--only new construction pays attention to price per square foot because in the resale market you could have two properties with identical square footage but with a price that is many hundreds of thousands of dollars different.

Here are some recent metrics (10/2016) for 98144 (including the price per square foot):

Avg price sold: $608,000
Avg number of days on market: 23
Avg difference between list price and sold price: 103% of list
Avg price per square foot: $359
... more
0 votes 2 answers Share Flag
Michael Ross, Real Estate Pro in Seattle, WA
Sun Dec 4, 2016
Michael Ross answered:
Gentrification is a complex and specific topic. I think you're asking whether Belltown is pricey, upscale, etc. I'm going to answer both ways though:

Belltown was never really a economically depressed, low-income area. It is right in downtown Seattle and has luxury, high-rise condo buildings that were built in the 1980s (so it's been a place for luxury living for at least 30+ years). There are areas of Seattle in which gentrification is in full-swing and is causing property prices to rise dramatically and is displacing long-term residents--Central District, First Hill, Columbia City, and other neighborhoods

From at least the early 1980s to now, Belltown continues to be a popular area for residential living and has seen a number of new, architecturally-cool buildings go up in recent years. There are no houses in Belltown--it's all condo living. A person that lived in Belltown could walk to work just about anywhere in downtown or South Lake Union. They could actually shop on foot for some seafood at the famous Pike Place Market and could walk a few blocks from home to catch a Broadway-quality show. It is truly urban living and the prices reflect that. In a recent rental survey, Belltown was one of the most expensive neighborhoods in Seattle with a one br median rent of $2,595.

What kind of people live there? inside the buildings, people who can afford that kind of housing payment. In terms of age & other demographics, it is perhaps a much more diverse neighborhood than many in Seattle; old and young, many different backgrounds. Outside of the buildings are quite a few homeless people or transients. If you want city living, with all it's pros and cons, Belltown is the place to be.
... more
0 votes 4 answers Share Flag
Michael Ross, Real Estate Pro in Seattle, WA
Sat Dec 3, 2016
Michael Ross answered:
First, let me address the particular home that you were looking at: It is in default on a loan of less than $200,000. That's on a home that would probably sell for over $600,000 as a fixer. That means that the person will probably bring the loan current or sell it the traditional way, pay off the loan and realize a substantial gain.

That home has entered the foreclosure process but has not been foreclosed on. The significant difference is that a home in the foreclosure process is not really for sale--the owner has just become delinquent in his/her mortgage and a public notice has been filed that starts the foreclosure process.

You can, however, buy an already foreclosed home (one that the lender has taken possession of) and there are some good deals to be had on those homes. Get a good real estate agent (like me) and they can provide you with a list of those homes. Foreclosed homes allow for you to be represented by an agent and it's a good idea because those types of listings can get a little tricky--like having shut-off utilities and hidden defects

If you want to have some fun searching for foreclosed homes in the internet you can see some by searching for the "HUD homestore"
... more
0 votes 2 answers Share Flag
Sowencheung, Home Buyer in Seattle, WA
Fri Nov 25, 2016
Sowencheung answered:
yes, it allows pets with extra small monthly fees.

the address is 4040 26th AVE SW, Seattle
0 votes 2 answers Share Flag
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