This is the last week end of shopping for the Federal Tax Credit. What that means is that the Real Estate markets, nationally, will begin to stabilize.
We are already seeing lending contract. Lenders who create Salable Notes to the secondary market are very picky about who they make loans to. Properties need to be in good condition, and borrowers need to have good credit. Every thing about the loan is looked at by the Under Writer with a very critical eye. The people buying Notes to use as Securities are also opening files, leaving nothing to chance.
Government intervention in the Real Estate market is getting to be more unpopular so I don’t expect there to be an extension of the tax credit or any other inducement to buy Real Estate coming from the Federal Government. The burden of home ownership will have to be a choice the buyer makes with a full understanding that there will be little appreciation in values.
What we will be talking about at greater length is the buyer’s ability to pay down the principle balance of the loan. On our other blog at www.SeattleRealEstateFixer.com we talk about ways to buy, and maintain your home.
Our goal is to give the consumer a complete resource from Purchase to the Sale of a property. This is the first real installment of the Buying Seattle blog and I hope you will forgive me, this one time, of using shameless Google Ranking to get this article seen.
About David Losh
In 1984 I got my Real Estate license and worked in a small company called Advance Properties. The owner was extremely interested in Real Estate, building, and land development. Most of his work was concentrated North of Seattle. Since the 1970s I had worked for Real Estate agents in Seattle as a contractor, mostly preparing properties for rent, and sale.
After a few years my skill level increased considerably concerning land use, building code, and development practices. Escrow, and lending offices were housed at the Advance Properties building so it was easy to get involved in all aspects of Real Estate. It was very much a family owned, and operated business.
Over the years my Real Estate license has been at a variety of Real Estate companies, and offices. Nothing compares to those early years, or that sense of family. Real Estate has gotten to be corporate owned.
My hope with this blog is to share with you some of the things I've learned. If you have Real Estate needs, or want contractor help, I refer freely to what best suits you. If you should choose to work with me you'll find a great resource.
My Real Estate license is at Skyline Properties in Northgate. Skyline is a locally owned company that is a desk fee office. There is a wide variety of diverse agents. It helps me with some of the other projects that I have, and mentoring that I do, to be able to work with people from other cultures.
Here in Seattle we are close to Vancouver BC and are the gateway to China. Boeing has a great trade relationship with China, as does Microsoft have with all of Asia. We are a culturally diverse community, and it helps me to be invlolved.
