Gorgeous homes around $500k? Get OUT of Seattle!

This week, a real estate agent asked me to prepare some financial flyers for listings in Pierce County. The homes are stunning – I live in Seattle and cannot imagine having a large garage for our cars…although before living in Seattle, I had a sweet 2 3/4 garage.

My first home that I bought was in northeast Tacoma, literally on the county line. It was a 3 bedroom, 1 (Continental) bathroom with a large back yard. I remember being shocked at the tall homes being built squeezed in so close to our property. When  we bought this home in northeast Tacoma in the late 80’s, I had a desk job at Chicago Title in  downtown Seattle. I typically drove or took the bus to work and even then, it was well over an hour each way.  It was a long commute, however I was always so happy when I pulled into MY driveway.

My first home does not compare to the half-million plus dollar homes that I’m referencing to in this post – however, in the greater Seattle area, many of the first time homebuyers that I work with are in this price range.

The home pictured in this post is just an example of what you can buy if you expanding your options of where you buy your home. Offered at $529,950, it’s a rambler built in 2014 with a 3 car garage (drool) that has beautiful woodwork throughout.  There’s even a covered patio with an outdoor fireplace. This 3 bedroom/3 bathroom craftsman home is located in Puyallup and is about 25 minutes from the Sound Transit Station. Click here for more info (and photos) about this home.  You got to check out the bathtub in master suite!

And how about financing options? Well, I’m so glad you asked! Here are a couple scenarios to consider based on a sales price of $529,950. The rates posted are from July 19, 2017.  Click this link to get more details about the quotes listed below.

Rates are subject to credit approval and may (will) change at any time. The VA scenario is based on first time use and the VA funding fee is 2.15%. Again, this is just a small sample of what we have available. I think a piggy back mortgage would work great at this price point too. Please contact me if you would like me to prepare a quote for you with current rates for your personal scenario.

According to Zillow, there are 62 homes for sale right now in Seattle priced from $500,000 to $550,000. Most of them are half the size or are a condo compared to what you will find outside of Seattle.

PS: Don’t get me wrong. I love living in Seattle. I just think there are a lot of other areas where home buyers can get more bang for their buck.

If I can help you with getting preapproved to buy a home (or refinance) please contact me.

Mortgage rates holding steady at record lows

Freddie Mac’s weekly survey of mortgage rates (PMMS) were released this morning showing rates remaining at near record lows.


Click here for current rates for your home located in Washington state. [Read more…]

Mortgage Rates continue Lower

Freddie Mac released the weekly PMMS (Prime Mortgage Market Survey) showing that mortgage rates continue to be at the lowest levels of 2017 with the 30 year fixed back under 4.000%.

The PMMS reports on average rates from the previous week based on a survey for conforming loans (loan amounts $422,950 and below). Last week, the 30 year fixed averaged 3.89 with 0.5 points. From the PMMS:

“The 10-year Treasury yield fell 3 basis points this week. The 30-year mortgage rate moved in tandem with Treasury yields, falling 5 basis points to 3.89 percent. Mixed economic data and increasing uncertainty are continuing to push rates to the lowest levels in nearly seven months.”

We are noticing an increase in refinances with the 30 year fixed being back below four percent.

If you’re considering refinancing or buying a home located anywhere in Washington state, I’m happy to help you. Click here for a no-hassle mortgage rate quote.

 

Lowest Mortgage Rates of 2017

Freddie Mac just released their weekly survey of mortgage rates showing that rates have hit the lowest point so far this year with the 30 year fixed averging 3.95% with 0.5 points.


So if you’ve been waiting to refinance, my suggestion is to jump on it as rates can change quickly. If your home is located anywhere in the state of Washington, where I’m licensed, I’m happy to help you with your refi or purchase. Click here for a mortgage rate quote.

Mortgage Rates take a dip

Freddie Mac’s PMMS (Prime Market Mortgage Survey) this week headlines “Mortgage Rates Tumble Below 4 Percent“. This is great news for home owners who have been waiting to refinance.

According to the PMMS: [Read more…]

Mortgage Rates trending Lower

Freddie Mac released their weekly mortgage survey known as the PMMS (Prime Mortgage Market Survey) today revealing that mortgage rates moved lower last week.


According to the survey, last week (key words: “last week”), the 30 year fixed conventional mortgage averaged 4.14% with 0.5 points. Remember, mortgage rates change constantly and the only way to have last week’s mortgage rate is to have locked in your rate last week.

I am happy to provide you with a current mortgage rate quote for a refi or purchase on your home located anywhere in Washington state, where I’m licensed.

Feds raise Funds Rate

This morning the Fed raised the Federal Funds Rate this morning by 0.25% to 1.00%. Although the Fed does not directly control mortgage rates, this move will most likely cause mortgage rates to continue to trend higher. The Fed Funds rate does directly impact home equity lines of credit interest rates that are attached to the prime rate. [Read more…]

Freddie Mac reports interest rates at their highest of 2017

Today Freddie Mac released their Prime Mortgage Market Survey which basically shows an average of conforming rates for the previous week. The report shows mortgage rates at their highest for 2017 with the 30 year fixed rate at 4.21% priced with a half point. 

[Read more…]