This month, through the end of the year, may be a good time to buy here in Seattle. It will depend on what you buy, and the price you pay. Pricing will decline at least 10% this year, but that shouldn’t matter to your over all strategy. Many lenders are recommending a 15 year fixed loan, and the rates for that are extremely attractive. Just consider though, that you can take a 30 year loan, and apply the extra money to the principle balance, if you chose. That way, in times when you want more money in your pocket per month, you can chose the lower 30 year mortgage payment.
The point is, that you may be able to find what you want, at an attractive price, and even with a price decline, you can make up for that by paying down your principle balance. If you consider that your loan doubles the amount you pay, you can easily get a 30% discount on your over all purchase by paying principle.
There are some homes that I have seen that were solid homes perfect for expansion, or to live in as is. You can say they are over priced, and in most cases I agree, but these are very good properties. In my opinion, if you wait until every one else is buying your selection may be less desirable. The price may be down, but you will be competing for the best product.
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.
