Mortgage Rates drop: time to take advantage of these rates now.

Mortgage interest rates have dropped to the lowest levels I have ever seen in my nearly 20 yrs. in the housing industry.  If you have a fixed rate loan over 5% and or a loan originated within the past 4 yrs. with 2nd mortgages (a substantial number if you are similar to the throngs of [...]

Humor: The very best of Financial Analysis

Report: Foreclosure in Washington State averages 390 days.

An article in today’s New York Times business section discusses the foreclosure problem and how some owners are choosing to not pay their mortgages and live in their homes for months and even years.   Florida is now averaging 518 days from the time the homeowner stops paying to the time of the foreclosure sale. The [...]

Wall Street to Snohomish Housing: Bailouts changed anything? Hardly.

From 60 minutes tonight: Anger doesn’t seem adequate enough to describe the bailouts and continued business as usual for Wall Street firms and imbeciles on both sides of the isle in Washington DC. Part 1: Watch CBS News Videos Online Part 2: Watch CBS News Videos Online

Realtor Economist: nearly 25% of today’s sales are all cash deals.

From CNBC:    “Existing-Home Sales Plunged An Unexpected 7.2% in January.” “Today’s figure is certainly not good news in terms of sales,” said Lawrence Yun, chief economist for the NAR. Distressed sales accounted for 38 percent of sales, sharply higher than December’s 32 percent. Yun said all cash deals represented about a quarter of all sales, [...]

Cars, Housing Debt and Cancelled Credit Card Affects on FICO Scores

Lets face it, debt is a problem in this Country, State and local community of citizens of Snohomish and vicinity.  It’s all around us.  We live in debt.    I have debt.   One of the goals I have is to eliminate the debt and be debt free.   It’s going to be tough but I’m determined [...]

Snohomish & Vicinity Housing Prices

Below is data pulled from Zillow.com through August 31, 2009. Affordability is clearly improved from the high price point reached in the Fall of 2007. Resale properties currently for sale are competing with distressed inventory as well as new home builder inventory that have dropped prices to spur sales. Expectations are that while sales have [...]

Housing

This section is dedicated to housing analysis, economics, home improvement, sales and lending.    Here you’ll find a good mash up of topics that should keep the interest high as we work through what arguably led us into the economic recession we find ourselves in and what may help to bring the Country out of it. [...]