Corporate Homeownership: How WA State Senate Bill 5580 and Trump’s Proposal Could Impact Homebuyers

affordable housing washington stateHousing affordability continues to be one of the biggest concerns for homebuyers across Seattle, King County, and the greater Puget Sound region. As prices remain high and inventory tight, both state and national leaders are focusing more attention on the role corporations and large investors play in the housing market.

Two recent developments highlight this growing focus: Washington State Senate Bill 5580 and a national proposal announced by Donald Trump via Truth Social last night.

While these efforts take very different approaches, they reflect a shared concern about how large-scale investors may be affecting access to homeownership. [Read more…]

Helping Your Adult Child Buy a Home

Helping Your Adult Child Buy a HomeBuying a home for your child is a major financial and emotional decision. It’s a generous gesture that can offer security, stability and help create wealth, but it’s essential to carefully weigh the pros and cons before making this commitment. Here are some important factors to consider: [Read more…]

Understanding the Numbers Behind an Offer: Bidding Wars, Low Appraisals and Commissions

bidding wars and low appraisalsRecently I wrote a post “How to Improve Your Odds of Getting YOUR Offer Accepted” which included this bit of advice:

“Understand the numbers: Bidding wars, low appraisals and commissions. Your mortgage professional should review strategies regarding how your offer may look like, including how long it will take to “break even” on bidding above the list price. What do your payments look like if you need to bid up $5K, $20K or more in order to “win” the bid. What happens if the appraisal comes in lower than expected? What if the seller is not offering to pay your real estate brokers commission? Understanding the numbers helps to reduce the stress involved with the “what ifs. You may be surprised that bidding up on a home doesn’t impact the payment as much as one would think as cost is amortized over 30 years with a typical mortgage.” [Read more…]

My Initial Thoughts on the Middle Housing Class

Affordable Housing Class
Wow!
Thursday, our classroom at our Kent office was packed with real estate agents wanting to learn the latest on the new zoning laws impacting neighborhoods in Washington. Richard Hagar did an amazing job covering this complicated subject. If you are a real estate agent, appraiser or city planner, I highly recommend attending one of his classes. The class focuses on the impacts of state regulations HB1110 and HB1337. [Read more…]

Looking for Affordable Housing? Check out Greater Tacoma!

If you’re looking to buy your first home, you may have to expand your horizon to find a home that’s more affordable. When I bought my first home many years ago, I wound up with a small rambler in Northeast Tacoma. We used an FHA mortgage with a 3.5% down payment (you do NOT need 20% down to buy a home). At the time, I was working in downtown Seattle at the Columbia Center and it was a heck of a commute…but I was so proud to own a home. We only owned it for a couple of years before we were able to sell it and use the appreciation to buy our next “move up” home. [Read more…]

Freddie Mac HomeOne® Mortgage in Washington State

Freddie Mac HomeOne Mortgage WA StateFreddie Mac HomeOne® Mortgage in Washington State

The HomeOne® mortgage is a low down payment conventional loan program designed specifically for first-time homebuyers who want to purchase a primary residence with as little as 3% down.

Backed by Freddie Mac, HomeOne offers a simpler path to homeownership for buyers who have solid credit but limited savings — without the income limits found in some other low down payment programs.

This mortgage option is especially attractive to buyers in Seattle, King County, Pierce County, Snohomish County, and throughout Washington State, where affordability and long-term costs matter. [Read more…]