Seattle Real Estate’s Low Inventory
October 8, 2010 by Erin Schedler · Leave a Comment
In the past few months, I’ve seen about 30 new residential listings come on each day in the market. This is very low, considering in our boom I was seeing about 100-120. In many of the central Seattle neighborhoods, real estate inventory is very low – about 3 months worth. This means it will only [...]
Today: Designing Your Digital Plan
October 5, 2010 by Erin Schedler · 1 Comment
One of the main reasons I chose to work for Coldwell Banker Bain was their commitment to education and innovation. They’re on the cutting edge of technology, and making sure our brokers have access to and knowledge of the latest tools and trends.
Today I’m at our Kirkland training center with our tech gurus Linda Aaron and Debra Trappen, [...]
Real Estate Transfer Rates
October 4, 2010 by Erin Schedler · Leave a Comment
In our office meeting today, our company president Mike Grady spoke about the market and transfer rates. In a “normal” market, 5% of homes should “transfer” ownership every year. The three biggest drivers of home transfers are divorce (unfortunately, but it creates 2 households out of 1), babies and new jobs.
Looking at King County today, [...]
Never Forget
September 11, 2010 by Erin Schedler · Leave a Comment
Today I am thinking of and sending prayers for the families and loved ones who lost their lives in the Sept 11 attacks. We must never forget. I am so grateful to be an American, and so proud of the men and women that continue to serve and protect our wonderful country.
King County Stats – End of August 2010
September 7, 2010 by Erin Schedler · Leave a Comment
Single Family Residence
Time Period
Number of Sales
Median Sale Price
Jul 2010
1,313
$397,000
Jul 2009
1,711
$380,000
Jun 2010
1,876
$389,975
Jun 2009
1,805
$393,000
2010 YTD
11,136
$380,000
2009
16,646
$378,000
Condominium
Time Period
Number of Sales
Median Sale Price
Jul 2010
277
$275,000
Jul 2009
521
$275,000
Jun 2010
472
$249,000
Jun 2009
498
$261,400
2010 YTD
2,907
$259,000
2009
4,804
$265,000
What Are Mortgage Points?
August 31, 2010 by Erin Schedler · Leave a Comment
Whether you are thinking about refinancing or getting a mortgage for the first time, whether or not to opt for points can be a confusing and sticky decision. Here is a quick explanation of points and some general guidelines about whether or not it is worth paying down points to get a lower interest rate.
What [...]
In Short Supply
August 26, 2010 by Erin Schedler · Leave a Comment
Currently I’m working with a wonderful engaged couple, who is looking to purchase their first home together. We’ve toured a few times but the problem we run into is the lack of inventory.
In this slow market, everyone is anxious and fearful of what is to come. As a result, sellers are not quick to list homes [...]
How does an FHA loan work?
August 11, 2010 by Erin Schedler · Leave a Comment
Since 1934, FHA loans have been helping people achieve the American dream of home-ownership. This type of loan offers better deals for people who may otherwise have trouble getting a desirable mortgage.
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. It has several key components.
Low down payment. FHA [...]
What is a reserve study on a condo?
August 10, 2010 by Erin Schedler · Leave a Comment
When you purchase a condo unit, you own the “walls in”. Other areas of the building (i.e. halls, roof, siding) are considering “common areas” and are funded and maintained by the HOA (homeowner’s association). In addition to the mortgage you’ll pay on the unit, you also pay a monthly HOA fee. What is included in [...]
Fed To Meet Tomorrow, Wednesday August 10th
August 9, 2010 by Erin Schedler · Leave a Comment
See article below. I doubt interest rates will be affected, but the big question is if they plan on increased purchasing of mortgage-backed securities (MBS):
Confronted with a U.S. economy that appears to be decelerating, the Federal Reserve may ratchet up cautionary language but many expect the central bank will refrain from buying more bonds to [...]
