A consensus economic forecast points to a healthy housing market due to low mortgage rates, a low unemployment rate, consistent building activity, and a continually competitive first-time buyers’ market. Earlier this month, the National Association of REALTORS® (NAR) surveyed economists for its Real Estate Forecast Summit. Their 2020 projections are consistent with Windermere’s Chief Economist Matthew… Read more
New data released by LendingTree shows that buyers in Washington state are paying some of the largest down payments in the country. Behind other high-cost, competitive markets of D.C., California, New York and Colorado, Washington buyers are placing $71,419 down on the average loan amount of $371,810. The national average… Read more
The Federal Housing Finance Agency (FHFA) announced it will raise its conforming loan limit on Jan. 1, 2018. Mortgage financing giants Fannie Mae and Freddie Mac will allow maximum conforming loan limits for mortgages in most parts of the U.S. to be $453,100. In the higher cost counties of King,… Read more
With passage of the Senate tax bill last week, the House and Senate will now come together in a conference committee to iron out differences in their respective tax bills. Despite concerns that the process is moving too quickly and not allowing for proper review of the bills, GOP leaders… Read more
Last week, the House GOP released their promised tax proposal, the Tax Cuts and Jobs Act. Here are three key changes put forth in the plan: Reducing the limit of deductible mortgage interest from $1 million to $500,000 for new loans taken out after November 2, 2017; Capping the amount… Read more
The Seattle King County REALTORS® annual Battle of the Barristers legal seminar is equal measures of legal debate, important case law and practical dos and don’t for real estate brokers. At this year’s event, held today in Bellevue, top attorneys Mike Spence, Chris Osborn, Annie Fitzsimmons, Lars Neste and Doug Tingvall, covered… Read more
More than 470 REALTORS® and Affiliates showed up today for the annual “Battle of the Barristers” legal education program which raised close to $19,00 for the First Citizen Scholarship Foundation. You can find out more about the scholarship program here. Known as “the most informative and entertaining real estate legal event… Read more
The federal government is increasing the limit for conforming mortgages in most regions of the United States starting Jan. 1, 2017. In the three county area of King, Pierce and Snohomish counties, the new conforming rate will be $592,250, up from the previous limit of $540,500. The Federal Housing Finance… Read more
The Washington Mortgage Bankers Association (WMBA) hosted a panel discussion last night at the Woodmark Hotel in Kirkland. Four representatives from Seattle King County REALTORS® answered questions submitted by WMBA, moderated by Jillayne Schlicke of CE Forward. The panel included REALTORS® Rachel Adler, Windermere East, Michael Ford, Realogics Sotheby’s International… Read more
Pictured above left to right: Sam Pace, Housing Specialist for Seattle King County REALTORS®, Michelle Connor, Executive VP of Strategic Enterprises at Forterra, Peter Orser, Acting Director at the Runstad School for Real Estate Studies and Randy Bannecker of Bannecker & Associates. This week, we hosted a crowd of over… Read more