The Washington State Senate has passed revisions to excise tax that is paid when real estate is sold or transferred. Instead of having a flat rate, the new tax once signed into law by Governor Inslee, will be graduated. Some will enjoy a lower tax rate while others will pay a significantly higher tax rate. Real estate excise tax is typically a cost paid for by the seller. In San Juan County, the excise tax has been split by both the seller and buyer of real estate. Many would argue that excise tax (as with other cost of selling, such as real estate commission) is often passed onto the buyer as it is factored into the sales price. [Read more…]
Big Changes Coming to Real Estate Excise Tax for Washington State Homes
May 2, 2019 by Leave a Comment
Mortgage Rates trending higher
April 25, 2019 by Leave a Comment
Freddie Mac’s weekly mortgage rate report (PMMS) based on a survey of mortgage interest rates from applications last week show that mortgage rates continued to move higher.
Mortgage Home Loans for Non-Citizen Borrowers
April 16, 2019 by Leave a Comment
Recently Fannie Mae added clarity to their guidelines regarding non-citizen borrowers being eligible to qualify for a conventional mortgage. According to Fannie Mae, this is not a change to existing policy, it is just (much needed) clarification for lenders.
In order to be eligible, a borrower must be “legally present” in the United States. This means the borrower must have: [Read more…]
RIP RainCityGuide
March 21, 2019 by 2 Comments
Rain City Guide, back in the day, was a resource for people interested in all things about Seattle…especially real estate. I was beyond honored to join the RCG panel back in 2007 to represent the mortgage industry. [Read more…]
When should you refi a low FHA mortgage rate?
March 14, 2019 by Leave a Comment
Many homeowners are hanging onto very low mortgage rates when they should perhaps consider refinancing the mortgage for a higher rate. What??? [Read more…]
The REAL Income Needed to Buy Median-Priced Home in Seattle
February 26, 2019 by Leave a Comment
KOMO News is reporting that it takes an income of $105K to buy a median-priced home in the Seattle area. This is based off a report from HSH.com. When you dig deeper into the report, here’s how HSH.com came up with their numbers: [Read more…]
Buying a Home Using Your S.O.’s Income
February 25, 2019 by Leave a Comment
Recently I helped a couple buy a home in King County. They’re engaged, had been living together for many years and were ready to purchase their first home. One of them, Billy Bellevue, had some credit issues and it made more sense for them to only have Susie Seattle’s on the transaction. [Read more…]
A First Time Home Buyer’s Story
February 22, 2019 by Leave a Comment
I’m so excited for some clients I helped buy their first home a couple of years ago. I thought I’d share their story – at least the Readers Digest version! 🙂
This couple attended a home buyers class that I was teaching back in 2014. They purchased their first home in Seattle in 2014 using a down payment assistance program we offer through the Washington State Housing Finance Commission. [Read more…]
Recent Comments