About King County, WA

Good morning! I hope you're well! I was reading in The Seattle Times today about how apartment construction is booming in the Seattle area.

According to Dupre and Scott there are over 20,000 units in the planning stage here in the greater Seattle area. It is a record number that are planned to be built. Everywhere you go in Seattle there are construction cranes putting up apartment towers. It's pretty amazing.

What has led to this unprecedented boom? I think it's a couple of things. One, the apartments are being built in densely urban areas where a lot of young people live and work. With Amazon.com and other companies thriving, there is a need for their younger workers to live close by. Rents are fairly high in these newer buildings but the renter is typically a well paid and educated person.

Two, I think that since the renters of these apartments are young they are also probably unattached. It appears they're not motivated to buy a place for themselves just yet. I'm sure there are also a lot of renters who had the misfortune of losing their home to foreclosure, etc. within the last few years. As most of you are aware these people will need to sit on the sidelines for a few years until they can qualify to buy again.

What I'm wondering is what happens a couple of years hence when all these renters decide it's time to buy. Obviously that will be great news for those of us in the real estate business. And I expect this to come true. Things cycle through as they say. Of course that may mean that a lot of these new apartment towers will be pretty empty. In other words the landlords may run into some trouble unless they can foresee this and start converting their units to condo's.

What are you seeing in your area? I'm curious. Obviously any real estate person who chose to hang their hat in the apartment realm may be killing it. Have a great day!

Buying A Home In Seattle Your Loan Options

Buying a home in Seattle is an important decision. You are going to have to make a lot of choices along the way and one of the most important things you’re going to run into right at the beginning is what kind of mortgage is quite work best for you. A loans officer will let you know about the different mortgages available, but it will ultimately your choice which one you choose.

Fixed-rate loans

These mortgages are the safest type you can get. A lot of people choose to get a fixed-rate mortgage because it gives a lot of stability over the years to come. The rate is fixed on these mortgages which mean that it will never change for the life of the loan. This means that you can go ahead and do some budgeting and planning without having to worry about your mortgage payments going up and down throughout the years.

Adjustable rate mortgage

These mortgages have a rate that adjusts according to the interest rate. You will be offered a lower rate of interest on this type of loan initially, but if rates rise in the future, so will your payments. There is more risk in this type of mortgage, but if you play your cards right and figure that the interest rates are going to go down, you can save money when you are buying a home in Seattle.

Shop around

You will get different rates of interest from different financial institutions. Of course, you’re going to go to the bank you usually deal with first to find out what their rates are and what they can do for you as a loyal customer. What a lot of people do, however, is sign up for mortgage without doing any further shopping around. You should definitely get a few quotes from other sources first. Just because you deal with the bank on a regular basis does not mean that you should necessarily get your mortgage there as well. The bottom line is really how much money you can save by getting the best mortgage deal possible.

Don’t rush into any mortgage choices until you have done your homework and feel totally confident about the decision you’re about to make. You’re going to have this house and mortgage for many years to come, and by taking the time and shopping around first before buying a home in Seattle you may be able to save thousands of dollars in the process.

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2. Bothell Real Estate Mortgages – Understanding the Basics of A Mortgage (17.4)
3. Home Loan – Where do Your Lake Forest Park House Payments Go (15.7)
4. Seattle Mortgage Terms, A Few Basic Mortgage Words You Should Understand (14.9)
5. Why You Should Get A Prequalified Loan To Purchase Seattle Real Estate (13.6)

Grandma and Grandpa’s house was only a mile away in town behind the High School. It wasn’t long before we were riding our bikes back and forth. About mid way was Rutherford’s Triple X Drive-In on Sunset and Rainier. I have fond memories with friends enjoying the 2 for 1 Champ Burger special with fries and a root beer listening to Duane Eddy blaring Rebel Rouser on the jukebox.

Our neighborhood grocer was Ted’s. After school or doing my paper route I’d meet up with my pals for some penny candy or a bottle of pop. Mom or Dad would send us there about once a week for something but especially for the lunch meats and cheeses. No one I have ever known truly loved a great delicatessen more than Dad. Ted wrapped it up with wax and butcher paper and tied it with string. He'd pull a note card out from the drawer and write it down with a short pencil he kept perched behind his right ear. Dad would settle up later.

Ted Sipila was an iconic Renton character (and we had several in those days), with his skinny mustache, white apron, and the short stub of a cigar in the corner of his mouth. He always had one more thing to say then he'd laugh as we headed out the door. “Now don’t forget to say hi to your Dad!”

I remember causing a major stir one day on a Sunday drive with Grandma, Grandpa, and Uncle George. I wanted to stop at Dag’s and get a hamburger. Grandma and Grandpa never had a hamburger. In fact my Grandfather I don’t think ever had a meal other than what my Grandmother made for him, unless they had dinner with family or friends and those were rare occasions. They were quite perplexed.

But I got my way, thanks to Grandma, and had my 19¢ Beefy Boy burger. Mom on the other hand was not old school and for this little town she was a hurricane, a notable progressive and sometimes considered a radical futurist by some. Very social, Mom loved entertaining, parties, theater, art, Broadway Musicals, taking up causes, politics, and happy hour.

On Sunday nights if Dad didn’t have to work he’d take us to the Roxy Theater where we saw our fair share of westerns, detectives, and WWII movies. He'd often said, “I like movies about things that could really happen.”

We had a lot of laughs watching movies like Disney’s The Absent Minded Professor, The Shaggy Dog, and Son of Flubber starring Fred MacMurray. Speaking of things Dad thought could really happen, he was always concerned my brother Steve might actually blow the house up one day with his scientific experiments in the basement. Steve and neighborhood friend Gene built a radio telescope made from a big umbrella, aluminum foil, and a modified Heathkit shortwave radio. Turning the tuning knob created loud oscillating sounds that interrupted television reception within 500 feet and sounded like a science fiction movie. Wouldn’t you know it, one night out in the backyard listening intently for messages from space we had a major power outage. Dad (and a few neighbors) were certain Steve and Gene caused the blackout that darkened our area of town.

A lot of what needed to be done for the family and our home in those day's was on the barter system. Dad was a master at it and we got everything from our teeth taken care of at the dentist, a new roof on the house, cars repaired, the kitchen painted, and new carpet including installation by trading for music lessons.

It was a fun day honoring the past and pondering the future. Afterall, I'm a small town guy living in a great big amazingly amazing digital world. I enjoy the journey now more than ever before and the endless possibilities still ahead. Earlier in my life I spent way too much time trying to get to some place so I could become the me I really wanted, like it was a destination. Today, I'm filled with gratitude. There is no place I need to get to, I’m already here. It was a good day turning 62.

Hi there: I hope you're well. We're still looking for sun here. Oh well!

I was reading this morning about the proposed principal reduction idea being floated. In a nutshell, it would allow homeowners to have their principal balances reduced to at or closer to what their home is now worth. Ironically the two biggest naysayers are Fannie Mae and Freddy Mac.

The opinions shared in the article were in favor and felt that the two big entities were short-sighted. Fannie Mae and Freddy Mac believe they need to protect their investor's outlay of $150 billion.

What are my thoughts? I think and agree with the pundits who argue the reverse is more unpalatable. That is that people are walking away from their mortgages often because their balance due as compared to value is so out of whack. The argument is if principal balances were reset people would be more motivated to stay in their homes. The other part is it would stop all the foreclosures and short sales going on. It might allow the housing market to improve faster for this reason.

In a way, it's a double-edged sword. The lender would be asked to rewrite down the mortgage balance; something they're probably lukewarm about doing. On the other hand, we all know how expensive it is for the banks to foreclose (the cost has been pegged at $50,000+/home) or how much they already lose in a short sale.

What's most at issue here is the American psyche. I've never been one to argue we shouldn't be responsible. Perhaps here we need to be flexible about this principal reduction idea. If it gives the American consumer confidence (something very few of us have had in abundance since 2008 if not before) then we may be well on our way to recovery. As it is now, I still think we have a ways to go; especcially since the real estate market is such a key indicator.

What are your thoughts? Good, bad, indifferent? I'm curious. Have a great day!

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Dealing With Problem Neighbors in Seattle

At times it seems like people don’t have anything better to do with their time. If you’re trying to sell your house you’re going to have to try to keep your neighbors calm and peaceful during the process. You certainly don’t want them arriving at your door and banging on it with a problem while you have a prospective buyer viewing your home.

Here are a few tips to help keep your neighbor at bay while you are trying to sell your house.

1. Try to reason with them

Although you have probably been trying to reason with them for possibly years, it doesn’t hurt to take another effort. Times change and people do too. Try to have a sensible conversation with your neighbors and don’t bring up any problems that you’ve had in the past. Let them know that you would like to get things resolved before you move away so that you can both start with a clean slate. Sometimes just acknowledging that there has been a problem and letting them know that it could all be over just with an agreement is enough to end everything and start afresh.

2. Talk to your real estate agent

If you can’t get things sorted out with your neighbor talk to your real estate agent about it and let him know that there has been an ongoing problem. He has had many clients in the past with the same issues and may have a few suggestions to offer. In some cases he may even want to talk to them if it looks like they are going to cause a problem for the sale.

3.Dealing With Problem Neighbors in Seattle

If your neighbors are doing something against any local Seattle bylaws you have the right to call and report it. You would use this as a last resort, however, since it can sometimes add to the mounting frustration that you both are feeling.

In some cases just the threat of a phone call will be enough to let your neighbors know that they need to stop their actions. It can be very difficult dealing with problem neighbors, that’s for sure.

When all is said and done, you are going to be moving away from the neighborhood and won’t have to worry about these neighbors again. Keep that in mind while you are trying to sell your Seattle home and trying to keep your neighbors calm.

Related posts:

1. How tо handle difficult neighbors when selling yоur Seattle home (12.5)
2. Coming Up With A Down Payment For Your First Seattle Home (9.6)
3. Coming Up With A Down Payment For Your First Seattle Home (9.6)
4. Understanding Your Seattle Home’s Value (8.2)
5. Tips on how to make your Seattle home stand out from the pack when selling (7.3)