Do You Appreciate a Modernist Design Aesthetic?
Modernist = particular style of architecture which is influenced by the work of Bauhaus and International Style.

Wouldn’t it be great to have a totally modern designed home, clean lines, great use of space, renewable natural materials and be affordable? Unfortunately these days, especially around the Seattle market finding something that speaks to the modern design enthusiast is increasingly hard to find and the cost is substantially higher then most of us want to pay. You will find a few modern custom homes dotted here and there amongst the various neighborhoods mostly the results of tear-downs and rebuilds and a few multi-family modern dwellings in the form of townhouses. [Read more →]

What Happens To Your Credit When You Get Divorced?

When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn’t have to change is the credit status you’ve worked so hard to achieve.

Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay bills, the maxing out of credit cards, and a total breakdown in communication frequently lead to the annihilation of at least one spouse’s credit. Depending upon how finances are structured, it can sometimes have a negative impact on both parties.

The good news is it doesn’t have to be this way. By taking a proactive approach and creating a specific plan to maintain one’s credit status, anyone can ensure that “starting over” doesn’t have to mean rebuilding credit.

The first step for anyone going through a divorce is to obtain copies of your credit report from the 3 major agencies: Equifax, Experian®, and TransUnion®. It’s impossible to formulate a plan without having a complete understanding of the situation. (Once a year, you may obtain a free credit report by visiting www.AnnualCreditReport.com.) [Read more →]

When compared nationally, Seattle is still one of the strongest markets in the nation for housing. While the inventory of houses has increased and sales slowed, home prices in Seattle are still rising. The Real Estate Journal for the Wall Street Journal reported that Seattle had a 45% increase in inventory and a 6.9% increase in price from the same time last year. Out of 28 metropolitan markets that the Wall Street Journal reported on, Seattle had both the highest increase in inventory and the highest increase in price. [Read more →]

Offer less? Or ask for a seller paid buy down? Which is better for you as a buyer?

When you are preparing to make an offer on a home it is good to know what your options are as a buyer, especially when your budget is tight and you would like to keep some of your money in the bank. It’s very common in a “buyers market” for buyers to offer less for a home than what it is currently listed for. But, does that make sense for you? Rather than offering less, would it make more sense for you to come up with a plan to lower your monthly payments and your cash required at the closing table? Many people don’t realize they have this option. Below you will see an example of two different 5% down scenarios. One is an offer of $485,000 with no seller paid closing costs. The second is a $500,000 offer with the seller paying $15,000 in closing costs including a permanent rate buy down. [Read more →]

Should You Leverage Your Home or Pay It Down Rapidly?

By Maryanne Coffman, Golf Savings Bank

There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and pre-paying principal? Let’s examine the pros and cons of both strategies.

Leveraging Your Property. In order to understand why you’d want to borrow as much as possible for your home purchase, you must first grasp the concept that equity has a zero rate of return. Here’s an example:

If Consumer “A” buys a home for $300,000, and puts 20% down, then they have $60,000 in equity. Over the next 5 years, the property appreciates $100,000 in value. Consumer “A” now has $160,000 in equity. [Read more →]