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I just received a notice from Talon Title and Escrow that some banks are now holding funds from a Cashier’s Check! This means if you receive a cashier’s check and you deposit these funds into your bank account, the funds may be held until the check clears. This is the first I’ve heard of this. There are [...] One of my clients and good friends sent me a link to an article that sums up the debacle pretty well. It sounds like most clients now know where to send their payments. There has been some issues related to escrow accounts not paying taxes or insurance. There have also been issues where borrowers received escrow [...] Rumors have been going around about the $8,000 first-time-home-buyer tax credit being extended beyond December 1st, 2009. There’s even rumors of it being increased AND including all buyers, not just first time home buyers. Nothing is set in stone yet, but there’s obviously a lot of interest in this topic. Some skeptics say that many of [...] As a former Belltown resident, I’ve wondered when the downtown Seattle Condo market would begin to tumble. When I bought a unit in Avenue One 4 years ago, it was one of only 2 projects being built in the area, mine and Cristalla. Since then, condo projects began popping up in the Seattle skyline faster than [...] Diane Tuman from Zillow.com recently blogged the recent slow down in Loan Modifications. Much of this information came from a recent article posted in The New Yorker in an article called “Not Home Yet”. One very interestin statistic used was 30% of all homeoners requesting a loan modification eventually bring their payments back to current. Another [...] Seattle Times posted a great article detailing how King County homes have become affordable for the first time since 2004 This year, for the first time since 2004, the typical King County family again can afford the typical King County house, according to one widely circulated measure. The Washington Center for Real Estate Research’s “housing affordability index” [...] UPDATE Taylor Bean and Whitaker has posted a new link that searches for your new servicer by entering your Taylor Bean and Whitaker loan number. You can find this page by clicking here. This has been a question I’ve been receiving more lately. Calling Taylor Bean and Whitaker’s exit from the mortgage industry “Ungracious” would be the understatement [...] I admit it, I’m surprised. Being that jumbo loans are one of the hardest properties to finance, I figured high-end homes would continue to drop for a long time. In an interesting article in Business week, signs of high-end homes selling is giving hope for the high-end homes. About 320 properties selling for more than $20 million [...] A recent Seattle Times article regarding sales in King County was published over the weekend. The statistics were very interesting. Here’s an excerpt: The median price of a King County single-family home that sold in July was $384,000 — down 2.9 percent from $395,000 in June and down 13.7 percent from $445,000 in July 2008. No [...] |
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