How Much Home Can You Buy with $97K Income with a Low Down Payment

The Seattle City Council recently passed a ban on evictions during winter months in Seattle. I’m all for protecting people when the weather is hazardous, however winter in Seattle is often quite mild. I’m actually very concerned about this legislation and how it may impact the rental market. I’m betting we will see more people decide to sell their Seattle investment property and move to other cities that are friendlier to landlords. Especially once you factor that Seattle laws prevent landlords from being able to screen potential tenants (it’s first come/first serve despite criminal history) and that landlords can only collect up to 1 month’s rent (plus 25% of one months rent if they accept pets) which can be paid over six months. Landlords are really in a risky position if the property is under Seattle’s regulations. [Read more…]

King County Property Taxes average 13.7% Higher for 2020

The King County Tax Assessor has issued a press release two days before 2020 property taxes will be released. From the press release:

“About 55 percent of property tax revenues collected in King County in 2019 pays for schools. Property taxes also fund voter-approved measures for veterans and seniors, fire protection, and parks. King County receives about 18 percent of your property tax payment for roads, police, criminal justice, public health, elections, and parks, among other services. [Read more…]

There Once was a Renter

I was just reviewing one of my client’s mortgages and thought I’d share a happy story with you. I’m REALLY proud of them. I first met Ryan and Rachel Renton (yes, I made up the names…but the rest of the story is true), at a home buyers class that I was teaching. Home buyers interested in the down payment assistance programs offered by the Washington State Housing Finance Commission are required to take a “live” class or an online class in order to qualify for the down payment assistance (dpa). [Read more…]

Mortgage Rates continue to DROP

Freddie Mac released their weekly mortgage rate survey showing that mortgage rates have continued to drop are at record lows. [Read more…]

With Love from the King County Tax Assessor

King County will be mailing out property tax statements for 2020 on Valentines Day… aawwww, that’s so sweet! [Read more…]

Bribery to work with the Builder’s Lender

I’m going to jump right to the point…I think buyers working the builder’s lender is generally not a good idea. Some might say, “But the builder offered us $10,000 towards closing cost, special mortgage interest rates, a new fridge or perhaps an air conditioner… if we worked with their lender! How can this be bad??” [Read more…]

Mortgage Rates Low and Steady…sort of

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Welcome to 2020!

Happy New Year from our family and Hitch

We are just into our second week of the new year and I hope your new year is off to a great start! I like to use this time of year to review my goals and make adjustments to my plans. [Read more…]