Archive for the ‘Finance’ Category

The average rate on the 30-year fixed mortgage fell last week to a record low, the ninth time that has happened in the last year. Mortgage buyer Freddie Mac said Thursday the rate on the 30-year loan dropped to 3.87 percent. That is below the previous record of 3.88 hit two weeks ago. The average [...]

We recently received numerous questions from clients regarding postcard information the county tax assessor’s office sends to local homeowners around this time each year. The county’s system for assessing values is quite different than actual market value. Let’s start by ruling out what does not determine a home’s fair market value:

While the long term impact of the U.S. credit downgrade from AAA to AA+ rating is unclear at best, the immediate outcome was quite favorable to mortgage lending. Interest rates fell yesterday to their lowest levels this year or 3.88% for a 30-year fixed rate FHA mortgage. The credit rating agency Standard and Poor’s (S&P) downgraded mortgage finance [...]

In the spirit of freedom this July, the following are a few financing options, requiring little (or no) money down as well as one that sidesteps captial gains: House Key Plus – House Key is a program provided by the Washington State Housing Finance Commission. The commission’s purpose is to help low-to-moderate income individuals and [...]

It’s not uncommon for family to gift real estate. As of late, the IRS is cracking down on how it’s done. Estimates show between 60% and 90% of transactions which appear to be gifts of property to family members may go unreported. Complicating matters further, this year Congress decided a person can give up to $5 million in one’s lifetime without having to [...]

Tax-time approaches – don’t miss these homeowner deductions: Mortgage interest, private mortgage insurance & real estate taxes Moving expenses, if you moved 50 miles or more for work Debt forgiven by your bank for a short sale Losses from natural disasters or theft Points paid down on refinances Improvements made for medical reasons Similar expenses [...]

Even with the current downturn in the market, affordable housing in Seattle has long been a dream of median-income families and individuals. The Multifamily Property Tax Exemption, or MFTE, program has been helping do just that since 2004. This program waives property taxes for private developers for up to 12 years when at least 20% [...]

By now we all know that interest rates have remained at incredible lows for the past year, but the times may be changing. Christopher J. Mayer, a senior vice dean and a professor at the Columbia University Business School told the New York Times recently, “The window of low rates could have left us.” Fixed [...]