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Home Buying in Seattle : Real Estate Advice

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  • Local Info115
  • Home Buying472
  • Home Selling96
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Activity 502
Yesterday at 8:53pm
Dave Skow answered:
Yesterday at 8:52pm
Dave Skow answered:
Diana - do you still need assistance >\?
0 votes 1 answer Share Flag
Sat Jan 14, 2017
Bryan Lagos answered:
Good God! Sept 30, 2007? I hope that you didn't buy anything for a few years. I purchased a home in early 2005 and still haven't reached break-even.
0 votes 25 answers Share Flag
Sun Dec 4, 2016
Kary Krismer answered:
Besides your loan costs, the other major buyer closing costs are the cost of title insurance for you lender (the seller pays for your title insurance) and half the escrow/closing agent fee. There are also lots of little charges, like recording fees, and then some pre-paids, like a few months of real estate taxes (depending on when you close and whether the lender will be collecting taxes) and property insurance (either inside or outside of escrow). ... more
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Sun Dec 4, 2016
Michael Ross answered:
That zip code is a pretty diverse one. It includes waterfront homes in Leschi that sell for many millions as well as the now-hot, up and coming neighborhood of Beacon Hill and the rapidly gentrifying Central area.

I agree with Kary that the price-per-square-foot metric should not be used for residential resale--only new construction pays attention to price per square foot because in the resale market you could have two properties with identical square footage but with a price that is many hundreds of thousands of dollars different.

Here are some recent metrics (10/2016) for 98144 (including the price per square foot):

Avg price sold: $608,000
Avg number of days on market: 23
Avg difference between list price and sold price: 103% of list
Avg price per square foot: $359
... more
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Wed Nov 2, 2016
jumbosource answered:
Plenty of options today for 90% Jumbo - assuming the house will be a primary home. There are also some options up to 95% financing, when the loan amount is below 1 mil. This requires 700 and above credit, full income and asset documentation. Visit the provided web link below for more info. ... more
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Thu Oct 27, 2016
Kary Krismer answered:
Well first, we would need to know if you're in Brooklyn, NY or Seattle, WA, and then we would also need to know what contract forms you are using. I'd suggest it would be better to simply contact an attorney because there is a need to review the forms and get a lot more facts than what a two sentence post provices.

That said, as a general rule: "There is no late in real estate." Thus, assuming the seller was not somehow at fault for the inability to close, they could probably ask for whatever they wanted for an extension or pursue their remedies for breach. If it is their fault it would be much more complicated because you'd be dealing with buyer remedies for a seller breach. Which gets back to the attorney comment.
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Thu Oct 20, 2016
Kary Krismer answered:
Try different company broker sites. One of them may give the information you want, but it will probably be very limited. National sites are less likely to have specific information like that. ... more
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Tue Oct 4, 2016
Kary Krismer answered:
I'm not sure what you're asking, but the purchase date is typically the date the deed is recorded with the county recorder. You could have some other situations though where date of possession would be considered the transfer date, but those would not be your run of the mill situations. Those would most likely be situations where for one reason or another a deed was never recorded or was delayed for a period of months or years.

Why do you ask?
... more
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Sat Sep 17, 2016
Eva Croasdale answered:
Best commutes to Bellevue would be Kirkland, Redmond and Mercer Island. Redmond is definitely a suburb, so that's probably out. Kirkland too, although the city center is more Metropolitan. Mercer Island is probably one of the most affluent neighborhoods of Seattle and is a mix of families and non. In Seattle, the closer you get to the 520 or 1-90 bridges, the better commute-wise. These neighborhoods would be Capitol Hill, Madison Valley, the Arboretum area and Wallingford (520) or Leschi, Mount Baker and Seward Park (I-90). Let me know if you have other specifications or questions about the neighborhoods. I've lived in and around Seattle for over 30 years and can give you more detail on specific neighborhoods if you're curious. ... more
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Mon Sep 5, 2016
Ogasawaddle answered:
Mike Delaney with Homebase Home Inspections. Awesome guy with a lot of construction experience. Can't recommend him enough.
0 votes 23 answers Share Flag
Sat Sep 3, 2016
Kary Krismer answered:
Sally's answer is very good, but she forgot to mention VA for veterans. 0% down, and disable vets get lower loan costs. The state also has some first time buyer programs with down payment assistance, but they typically require 2nd mortgages which adds a bit more risk. ... more
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Fri Aug 26, 2016
Kary Krismer answered:
If you're asking will the IRS agree to release a tax lien for less than is owed if they believe the offer for the property is reasonable, the answer is yes. I believe it's a fairly straightforward relatively quick process, but not something I do.

I would suggest contacting either a tax or real estate attorney, but a short sale negotiator could probably handle that too. Just note that the latter should charge you less than a typical short sale because dealing with the IRS is easier than dealing with most banks.
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Thu Aug 25, 2016
Kary Krismer answered:
Assuming you're talking about King County, I would first look to see whether the assessor has been keeping an assessed value on the property. If it has, then you just need to know the precise tax district it is in and find out the rate.

There are some situations where a prior reduced rate results in some additional tax in the future, but I don't think this is one of them. I would suggest calling the assessor's office to see what they can tell you on this and whether there are any penalties, how to start tax billings, etc. I doubt the involvement of a RE attorney is necessary, but that might also help.
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Thu Aug 11, 2016
Getachew206 asked:
Thu Jul 21, 2016
James Hagarty answered:
hey Sarah - based on my understanding, if you were scheduled to close today that should not be an issue. but I'm guessing by now you have already closed on your home, so congratulations and welcome to Washington! :) ... more
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Mon Jun 27, 2016
Kary Krismer answered:
Based on the fact that you used the term "roll" I think you might believe that you still need to buy a new house to avoid tax liability when you sell your old house. That hasn't been the case for probably at least 20 years. Now you can exclude $250,000/$500,000 of gain as long as you've lived there long enough (generally two years) and other conditions are present (e.g. the property hasn't been used as a rental). Consult your tax adviser.

As to what you'd have left from the sale, you'd need to know your costs of sale and the amount owing on your mortgage(s). Costs of sale in Washington tend to be about 3% PLUS the amount of any commissions.

So, for example, if you sold your home for $220,000 with a 6% commission and owed $140,000 on your mortgage, your net proceeds would be roughly $60,000.
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Sat Jun 25, 2016
Glen asked:
Hi all,

I'm a 24 year old based in West LA with limited full time income history (currently making ~110k / year, but only 1 year's worth of income history, excluding seasonal…
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