With low mortgage rates where are the Buyers?
With mortgage rates at or near historic lows, where are the Home Buyers? The answer is fairly simple. As this article from the Seattle Times states, people need very clean credit scores along with a highly liquid cash position in order to purchase a home. First time home buyers (usually younger and with less time to accumulate a high liquid cash position) are particularly challenged to enter into the market. With home values still high in this part of the country, it will be interesting to see how our largest employers deal with recruiting top talent into the Puget Sound region.
Is it time to Buy or continue Renting in Seattle?
Great note from CNN Money regarding whether it is time to Rent or Buy in Seattle, Washington. Remember, all Real Estate is local. Most of us reading this information are well aware of our economy. However, with vacancy rates in Seattle and Bellevue hovering at 5 percent or less, this article certainly adds some validity to what we are experiencing first-hand. The caveat in this article is the time line for making the investment pay off. The fact Seattle is being mentioned as a positive area to make a home purchase should be encouraging to Buyers and Sellers alike.
Home Remodeling Tips
