Market Update: King County

Market Update for King County Market Update: Inventory *House featured is our recent listing of an Isola Homes house which sold in record time for top dollar! Here is the movement in Market Inventory from 2007- 2012. Low inventory levels means that homes are going under contract faster than ever.  In September 2012, 27.1% of

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Home prices rising fast, but gains could slow…

U.S. home prices are coming off the bottom faster than many expected. Market researcher CoreLogic says prices were up 4.6% in August from a year ago, the largest year-over-year gain in six years. The report parallels others showing recent strengthening in home prices, which are still down about 30% from their 2006 peak. Much of

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Seattle voted #2 best US city! Let’s celebrate!

For the second time, Businessweek.com has ranked the 100 largest US cities, and Seattle came in #2. (Just behind San Francisco, ranked #1). Bloomberg Rankings helped Businessweek.com come up with the numbers, based on leisure attributes (the number of restaurants, bars, libraries, museums, professional sports teams, and park acres by population); educational attributes (public school

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Home price bounce will help boost economy but it will take time

The ongoing rise in home prices, up for the sixth month in a row in July according to a widely followed index, is bringing some badly-needed support for an ailing U.S. economy. The road back to economic health, though, is going to be a long one. U.S. single-family home prices rose in July, though the improvement

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New Report Says Buying is Cheaper than Renting in Seattle

Buying a home is way cheaper than renting in all 100 of the nation's largest metropolitan areas, including Seattle, according to a new report. The average home ownership cost in the Seattle area is $978 a month, 42 percent lower than average rent, the real estate company Trulia reported. Nationwide, owning is 45 percent cheaper than renting.

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Seattle Foreclosures Rising Faster than Nation

Foreclosures rose dramatically faster in the Seattle area than in the country as a whole in August, according to a new report. King County foreclosure filings in August were up 32.2 percent from July and 34.2 percent from August 2011, the foreclosure data firm RealtyTrac reported. The nationwide total rose just 0.8 percent from July

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Mount Baker Craftsman Gutted and on Market for $949,000

This home was purchased by an investor in February.  It is located in Mt. Baker, one of Seattle’s most desirable neighborhoods.  It was completely gutted and hundreds of thousands went into the renovation of this home.  It features all new appliances, marble bathrooms, built-ins and gorgeous moldings.  For the look of the house, we went

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How are King County Home Sales Doing this Quarter?

King County home sales and prices continued to rise in the second quarter, pushing down affordability, according to a new report. Sales of existing homes rose by a seasonally adjusted 3.2 percent from the first quarter and 17.2 percent from a year earlier, the Runstad Center for Real Estate Studies at the University of Washington

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Rental Rates Up Up Up…in Seattle !

As the weather cools down and summer vacations and weekends away come to an end, we approach one of the best seasons for investing in real estate.  Now more than ever, it’s the ideal time to start looking at cash flow properties.  We find many of our investors looking primarily for properties to flip.  While

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Six Ways Your House Can Help You Retire

Once upon a time (i.e., 2006) in a magical place called the Bay Area, the real estate market got so heated that it became commonplace to hear coffee shop patrons trading stories about their little old million-dollar houses. It became equally commonplace for this excess of home equity to create a false sense of financial

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Modern Flipping

cure for shingles Modern Flipping Every time we acquire a wholesale property, we have to make crucial decisions about the rehabilitation plans that can significantly affect the resale of the property.  More than ever, we are investing in homes at higher price points and it's necessary for us to strategically rehab the property so that

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Shortage of homes = bidding wars

Shortage of homes for sale spurs fierce competition The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes. Would-be buyers are packing… Would-be buyers are packing open houses and scrambling to make offers on properties before they are even listed. Bidding wars are erupting.

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LLC’s & Real Estate Explained

As of April 1, 1997, all fifty states have adopted the Limited Liability Company or “LLC.” The LLC is relatively new to the U.S., and most states have adopted LLC laws only within the past few years. Essentially, the LLC is a cross between a corporation and a partnership, with all of the bells and

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Featured Neighborhood of the Week: Laurelhurst

Featured Neighborhood:  Laurelhurst The upscale residential neighborhood of Laurelhurst was established in 1910 and is located adjacent to Lake Washington.  It boasts a landmark community center, the Laurelhurst Beach Club, a fantastic elementary school and close access to the University of Washington and Seattle Children’s Hospital. Bill Gates grew up in this neighborhood and lived

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Bye Bye McMansions.. Hello Bungalows!

Bye bye McMansions.. Hello modest mid-century Bungalow… Research has shown that small houses are now “in” and the trend is expected to continue for at least a few years. It was bound to happen due to the downturn in the economy. More people have experienced unemployment or financial losses over the past few years and

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Warren Buffett Says: BUY BUY BUY!!!

Warren Buffet says Buy Buy Buy! In February 2012, Warren Buffett was featured on CNBC live and asked what his opinion of the real estate market was. His response? “If I had a way of buying a couple hundred thousand single-family homes I would load up on them. It’s also interesting to note that Warren

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The Best Exterior Paint Colors

The Best Color Exteriors The best-selling exterior color may be the one that enhances your home’s curb appeal without making it look like it should be sitting in a different neighborhood. There are many factors to consider when choosing an exterior paint color, especially when resale is your goal. An article published by “Exterior House

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Real Estate Rehab Tips: The Perfect Shade of White

The Right White Five paint companies divulge their best-selling white colors.  When flipping a home, there are many times when a neutral such as a light tan or a white is the best choice for the home because it creates a blank slate for future home buyers. Choosing the perfect shade of white is an

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Is Spring the Best Time to Buy?

  You’ve gotten your financing in order, and you have an idea of what you want. Now all you need is to find your dream home and you’ll be set to move. So when is the best time of the year for buying a first home? Spring and summer Spring and summer are considered the

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Top 10 Kitchen & Bath Trends for 2012

1.  Non traditional wood cabinetry Cherry and maple are on the way out and non-traditional choices are becoming hot this year.  To stay on trend, choose a “lesser-used” wood like oak, walnut, birch, bamboo or alder. 2. Darker natural cabinets are preferred by designers or Stick with Painted White Natural cabinetry is slowly falling out

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Real Estate Investing 101: A Self-Directed IRA Explained

A growing number of real estate investors are using a self-directed IRA to finance their property purchases nowadays. That’s because a self-directed IRA can provide them with the opportunity to buy real estate and earn rental income without paying early distribution fees. The Investment Company Institute – the national association of U.S. investment companies, estimates

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Investing 101: Stick to your price & Exit Strategies

Yesterday,  we introduced you to some important investment strategies.  Now you understand the importance of knowing the value of the home and its comparables, as well as clearly understanding all of your financing carrying costs.  Both are crucial for turning a profit on your investment property. Just like the previous rules, these new rules should

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