Chuck Cady & Associates Blog by Chuck Cady & Associates

FEATURED LISTING - Lake Pointe Luxury Condominium

Chuck Cady & Associates — Tue, 28 Oct 2008 16:29:00 GMT

Lake Point Luxury Condominium offered at $899,950.

View the full listing by clicking here.

Fannie Mae/Freddie Mac bailout

Chuck Cady & Associates — Mon, 08 Sep 2008 17:28:00 GMT

A note from our "Preferred Lender", Connie Zinter-

On September 7, 2008, it was announced that Fannie Mae and Freddie Mac will come under control of the U.S. Government. This is good news for the Real Estate Industry. With the recent problems in the Mortgage industry, it has been risky for investors to purchase the bonds that Fannie and Freddie needed to sell to meet their capital requirements. With the government stepping in, they will back the payments on these bonds. This is boosting investor confidence to purchase the bonds again which when purchased generate lower interest rates for the borrower. With the news of lower interest ..(read more)

Seattle holds the #1 spot for largest annualized % change...

Chuck Cady & Associates — Mon, 04 Aug 2008 16:41:00 GMT

According to the RPX (Residential Property Index) Monthly Housing Market Report released August 1, 2008 for May, Seattle continues to hold the #1 spot for the largest 5-year Annualized % Change and #2 in the 2-year Annualized % change out of the 25 Major Metropolitan Cities (MSA's - Metropolitan Statistical Areas) used by Radar Logic to compile these Real Estate Data reports.

View the complete report at http://www.radarlogic.com/research/RPXMonthlyHousingMarketReportforMay2008.pdf

1st Time Home Buyer Tax Credit - Expiration Date of June 30, 2009

Chuck Cady & Associates — Mon, 04 Aug 2008 15:32:00 GMT

It's all over the news and time for 1st Time Home Buyers to jump.

There is tons of inventory out there and now thanks to the recently passed bill HR 3221, there is a 1st time home buyer tax credit incentive!

Following is a list of FAQ's compiled on the http://www.federalhousingtaxcredit.com website, a site dedicated to educating people about the 1st Time Home Buyer Tax Credit.

Who is eligible to claim the $7,500 tax credit?
First time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs.
What is the ..(read more)

Cash Investment Requirement - Prohibition of Seller-Funded Down Payment Assistance

Chuck Cady & Associates — Mon, 04 Aug 2008 14:37:00 GMT

One of the many FHA provisions to H.R. 3221, the Housing and Economic Recovery Act of 2008 bill is the prohibition of Seller Funded Down Payment Assistance. This means that FHA will not recognize and/or accept seller donations for the purpose of down payments.

SEC. 2113. CASH INVESTMENT REQUIREMENT AND PROHIBITION OF SELLER-FUNDED DOWN PAYMENT ASSISTANCE.

Paragraph (9) of section 203(b) of the National Housing Act (12 U.S.C. 1709(b)(9)) is amended to read as follows:

(9) CASH INVESTMENT REQUIREMENT-

`(A) IN GENERAL- A mortgage insured under this section shall be executed by a mortgagor who shall have paid, in cash or its equivalent, on account of the property an amount equal to not less than 3.5 percent of the appraised value of the property or such larger amount as the Secretary may determine.

`(B) FAMILY MEMBERS- For purposes of this paragraph, the Secretary shall consider as cash or its ..(read more)

FHA Modernization - Good news for Buyers!

Chuck Cady & Associates — Mon, 04 Aug 2008 13:17:00 GMT

This information was published by the National Association of Home Builders. You can view the full articles by visiting their official online weekly newsletter at http://www.nbnnews.com/.

Well you've probably heard by now that last week legislation approved H.R. 3221, the Housing and Economic Recovery Act of 2008. It contains several provisions that will allow the FHA to deliver a range of mortgage products more effectively. However, the FHA's minimum downpayment has been increased from 3% to 3.5%. The bill:

Increases the current limit for FHA-insured mortgages to enable deserving potential buyers to purchase homes in more markets across the country. “Permanently raising the FHA loan limit to 115% of an area’s median home price, up to $625,500, will enable more creditworthy borrowers to purchase an FHA-insured home in high-cost markets,” said Dunn.
(read more)

Home Prices Fall, Rates Rise, Making Homes Less Affordable...

Chuck Cady & Associates — Fri, 27 Jun 2008 09:55:00 GMT

June 27th, Bloomberg reports:

Homes Less Affordable as Prices Fall, Rates Rise, Zillow Says
By Sharon L. Lynch

June 27 (Bloomberg) -- Rising(read more)

ATTENTION North Seattle Community Neighbors:

Chuck Cady & Associates — Wed, 11 Jun 2008 13:12:00 GMT

ATTENTION North Seattle Community Neighbors:

The Haller Lake Community Club will be hosting a community meeting, tomorrow June 12th at 7:00pm with regards to the proposed North Seattle Jail site.

If you are interested in attending this action meeting and voicing your concerns, visit the Haller Lake Community website for further details at: http://www.hallerlake.info/hallerlakejail.html

UPDATE North Seattle Municipal Jail (Public Forum)

Chuck Cady & Associates — Wed, 04 Jun 2008 13:24:00 GMT

A News Advisory was released by Mayor, Gregory Nickels announcing the dates for a public forum on the proposed municipal jail sites. You can read the release below or view the release on the Official City Site at http://www.seattle.gov/news/detail.asp?ID=8516&Dept=36

Seattle seeks feedback on possible municipal jail sites
Four dates set for public forums

SEATTLE - The city of Seattle announced today it will hold public forums around the city to provide information and hear feedback about possible sites for a new Seattle Municipal Jail. While residents are welcome to attend any of the forums, each will focus primarily on a specific potential jail site, as outlined below. The forum dates and locations are:

Thursday, June 26, from 6 to 9 p.m. at the Aerospace Machinists Union Hall A, ..(read more)

Soft Existing-Home Sales Expected Near-Term But to Rise Midsummer

Chuck Cady & Associates — Mon, 19 May 2008 14:05:00 GMT

As reported by NAR (National Association of Realtors) on May, 7th 2008...

A flat pattern in home sales activity should continue for the next couple months before improving over the summer, according to the latest forecast by the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said the extent of an expected recovery hinges on better access to affordable loans. "Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas," he said. "As anticipated, we continue to look for a soft first half of the year, for both housing and the economy, before notable improvements in the second half. Some time is needed for FHA and new conforming jumbo loans to become widely available."

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, edged down 1.0 percent to 83.0 from a downwardly revised ..(read more)

What are your thoughts on a jail in your neighborhood?

Chuck Cady & Associates — Wed, 07 May 2008 13:37:00 GMT

As reported by the Seattle Times and P-I; commencing December 31, 2012, King County Jail will no longer accept and house misdemeanor offenders leading City of Seattle Officials to settle on four possible locations for a new jail. One of which is right in our backyard and we want to hear your thoughts on this topic...

Visit the official City of Seattle (Municipal Jail Planning Project) site for more information and to post a comment or pose a question:

http://www.seattle.gov/municipaljail/background.htm

Read the Seattle PI article published 5/7/2008 along with comments from Larry Smith, President of the Haller Lake Community Club;

http://seattlepi.nwsource.com/local/361984_jail07.html?source=rss

(read more)

We would like your help...

Chuck Cady & Associates — Mon, 05 May 2008 16:30:00 GMT

Chuck Cady & Associates is entertaining the idea of hosting a real estate seminar and we want your feedback! With over 25 years of Seattle real estate experience we have seen all types of markets and would like to offer up our knowledge and expertise.

We are NOT looking to host the average seminar geared "solely" towards 1st Time Buyers or Investors but rather an informative Q & A geared towards answering ALL real estate questions and concerns.

If you have questions or ideas on discussion topics email them to us by clicking here.

Seattle City Light & Snohomish PUD will pay YOU...

Chuck Cady & Associates — Mon, 05 May 2008 14:34:00 GMT

If you haven't already heard, Seattle City Light & Snohomish County PUD together with JACO Environmental are running similar programs where they are paying customers to get rid of their old refrigerators and freezers!

Seattle City Light reports, old refrigerators or freezers can use three times as much energy as newer ones, significantly running up your electric bill and contributing to global warming.

(read more)

Current Real Estate Market “A Price War & Beauty Contest”

Chuck Cady & Associates — Mon, 14 Apr 2008 15:22:00 GMT

Message from Chuck Cady:

I recently attended a Real Estate Seminar put on by Howard Brinton of Star Power where I met with Top Realtors from all over the Pacific Northwest. One of the presenters described our local Real Estate market as “a Price War & Beauty Contest”. I thought WOW, how true it is!

To sell a home in today’s market your home needs to be the best-priced house out there, and it must be the best-looking one as well. I have been representing buyers and sellers in the Greater Seattle area since 1983 and have witnessed various types of Seattle housing markets over the past 25 years. Although the current market is trying at times, it in no way compares to past market slumps such as that of ..(read more)

Share your BLOG topics!

Chuck Cady & Associates — Wed, 02 Apr 2008 16:54:00 GMT

We are looking for topic suggestions that you would be interested in reading about!!

Post your ideas below...