Competing in Multiple Offers? Look at Your Bottom Line!

Did you know that 44 percent of home sales involve multiple offers? In fact, buyers working with a Windermere Real Estate broker are 18.4 percent more likely to win the sale in a multiple offer situation.

2015-Multiple-Offer-Market-Share-Growth

Posted on November 7, 2016 at 9:47 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Real Estate, Seattle WA Real Estate

New FICO Scoring for the Scoreless

If you’re in the market for a home, you’re probably in the market for a mortgage. With the exception of all-cash buyers, most buyers will find out soon what their FICO score is and what banks think about it.

The FICO score has a huge impact on whether or not lenders consider you an acceptable credit risk, and yet there are more than 53 million Americans out there who don’t have a credit score at all. This doesn’t mean they’re a bad risk, necessarily… it just means they haven’t used credit cards, held a previous mortgage, or had an auto loan. They may be perfectly responsible financial citizens. So how do they apply for a mortgage?

In an attempt to broaden access, FICO has begin to factor new data sources. Announced in April, 2015, FICO will now include two additional sources: A national utility database, presided over by Equifax, and LexisNexis, which relies on public records.

The idea behind the change is this: First, the timeliness of utility payments can be used as month-to-month evidence of financial health. Second, FICO will be looking at LexisNexis address changes to determine how often people have relocated. In theory, frequent moves may be an indication of increased risk.

Though the impulse may be good, the changes are not without some controversy. Some argue the accuracy of the Equifax database may be a concern. It also adds one more credit reporting database which must be monitored. There’s also a worry that the “frequency of move” may unfairly punish people and provide a disincentive for relocations, downsizing, and upsizing of homes, provided FICO only uses the LexisNexis information in a punitive way.

More details are sure to emerge, but one thing is for sure: The era of Big Data in the cloud will be sure to cast their shadow on the way financial institutions assess risk in the years ahead. One hopes that they ultimately let in more sunshine than shade when it comes to helping buyers attain the dream of homeownership.

Are you ready to explore the dream? Contact us today. We’d be happy to help you navigate the home buying or selling journey.

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com
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Posted on May 9, 2015 at 10:16 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Seattle WA Real Estate | Tagged

Saturday Open House

Check out all homes open today right HERE!

Tired of losing out in multiple offers? Put us to work for you by using our powerful neighborhood knowledge and negotiating skills and get the Seattle WA home you deserve.

Call, text or email us today!

 

 

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

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Posted on April 4, 2015 at 9:50 am
Steve Hill and Sandra Brenner | Category: Home Buying, Seattle Home For Sale, Seattle Real Estate, Seattle WA Real Estate

Seattle WA Home Buyers – Don’t Let Your “Luck” Run Out

Don’t Let Your “Luck” Run Out | Keeping Current Matters

The 30-year fixed mortgage interest rate is currently still below 4%. Many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year, believing they still have time to lock in a low rate.

If you look at what the experts are predicting over the course of the next 12 months, it may make the decision for you.

Predictions for 2016 2Q:

Even an increase of half a percentage point can put a dent in your family’s net worth.

Let’s look at it this way…

The monthly payment (principal & interest only) on a $250,000 home today, with the current 3.86% interest rate would be $1,173.

If we take that same home a year later, the Home Price Expectation Survey projects that prices will rise about 4.4% making that home cost $11,000 more at $261,000.

If we take Freddie Mac’s rate projection of 4.7%, the monthly mortgage payment climbs to $1,354.

Some buyers might not think that an extra $181 a month is that bad. But over the course of 30-year mortgage you have spent an additional $65,160 by waiting a year.

If you are considering a home purchase in Seattle, check out all of the homes availble in Seattle WA favorite neighborhoods right HERE.

Put our experience and negotiating skills to work for you. Discount brokerages don't offer the same level of personalized service as us. We are with you every step of the way! Check out our reviews at BrennerHillReviews.com.

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com


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Posted on March 17, 2015 at 11:47 am
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Homes for Sale, Seattle WA Homes for Sale

Location, Location, Location!

Location, Location, Location | Keeping Current Matters

 

A recent Demand Institute report revealed “nearly half of all American households plan to move at some point in the future.” Seventy-five percent of those surveyed in the report cited one or more ‘location-related reasons’ for their eagerness to move. Here are the top 5 reasons:

  1. Safer Neighborhood – 30%
  2. Closer to Family – 27%
  3. Change of Climate – 26%
  4. Closer to Work – 25%
  5. For a New Job – 23%

While the majority of Americans (74%) will move within their home state, for the 26% planning to call a new state home, it is important to know that prices in each state are appreciating at different rates and waiting to buy or sell your home could cost you more in the long run. The map below was created using the FHFA’s latest Home Price Index and shows year-over-year price gains in each state. Year-Over-Year Price Gains | Keeping Current Matters

Bottom Line

If your plan for 2015 includes relocating to a new state, let us get you in touch with a local real estate professional in that area who can help you find the best fit for you and your family’s needs.

As Windermere Relocation Specialists, we can assist you if you are moving across town or around the world.

Moving into or out of the Seattle metro area? Give us a call, we represent both buyers and sellers in this beautiful area we call home.

Useful Home Buying and Selling Information at: SeattleFreeHomeInfo.com

 

What Is Your Seattle WA Area Home Worth? Find Out Here for Free! SeattleWaHouseValues.com

 

STEVE HILL and SANDRA BRENNER | Broker | REALTOR®

SEATTLE – NORTHWEST
Windermere Real Estate / FN

DIRECT/TEXT 206-769-9577
OFFICE 206-367-4720

FAX 206-361-6943

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Posted on March 16, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

Homeownership Rates: Are they Crashing?

The Census recently released their 2014 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership.

Easy… Chicken Little

The national homeownership rate peaked in 2004, representing a 69.2% of Americans who bought vs. rented their primary residence. Many have noticed a decline in rate since then and taken that as a bad sign. However, if you look at the national rate over the last 30 years (1984-2014), you can see that the current homeownership rate has returned closer to the historic norm. 2014 ended the year with a rate of 64% just under the rate in 1985 and 1995.

Bottom Line

With interest rates and prices still below where experts predict, evaluate your ability to purchase a home with a local real estate professional.  

When you are ready to purchase your first or next home, give us a call, text or email. Put our experience and negotiation skills to work you!

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

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Posted on February 18, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle WA Real Estate

Seattle WA Real Estate Law: Revocation of Counteroffer

The market is heating up and so are the speed of transactions, offers and counteroffers. Both buyers, sellers and their brokers will benefit from this video featuring Annie Fitzsimmons, the Washington REALTOR Legal Hotline Lawyer.

For all of your real estate related questions, give us a call, text or email. 206-769-9577, stevehill@windermere.com

Posted on February 7, 2015 at 2:19 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Home For Sale, Seattle WA Homes for Sale

Seattle WA Real Estate Market Report

Seattle continues to be a hot real estate market. Seller's can usually plan on top dollar and a quick sale of their home. Buyer's on the other hand have become weary and tires of being out bid on multiple offers. There is likely no end in sight for the time-being, as Seattle continues to grow fast with employers hiring as fast as they can interview. Whether you are considering a home purchase, sale or both; get in touch with us. We would love to help you negotiate your next real estate transaction. Why not put our expertise to work for you?

Check out the Seattle WA Market Report below!

Posted on January 31, 2015 at 2:07 am
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Home For Sale, Seattle WA Homes for Sale

Attaining the American Dream: 5 Financial Reasons to Buy

Heading into 2015 many people have their sights set on buying a home. The personal reasons differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership his paper – The Dream Lives On: the Future of Homeownership in America. Here are the five reasons, each followed by an excerpt from the study:

1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You're paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning.

“Homeowners are able to deduct mortgage interest and property taxes from income…On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially. When you are ready to make the smart move into homeownership, give us a call, text or email and put our experience and negotiation skills to work for you!

Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST

Windermere Real Estate

206-769-9577

stevehill@windermere.com

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Posted on January 21, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Home For Sale, Seattle Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate | Tagged

Don’t Wait! Move Up To The House You Always Wanted

Don’t Wait! Move Up To The House You Always Wanted | BrennerHill.comNow that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. In most areas, prices are still below those of a few years ago. Also, interest rates are still near 4%. However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:

Buyers Purchasing Power | BrennerHill.com

When you are ready to move up to the house you always wanted, give us a call, text or email. Let us get to work for you!

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577

stevehill@windermere.com

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Posted on January 20, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Homes for Sale, Seattle Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

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