Real Estate Investment: Still a good buy. Find out why.

1 - I can do better 2 - Jury's out 3 - Pretty darn good 4 - Splendiferous 5 - Awesometastic by 16 people | Log in to rate

Ranked #11,596 in Business, #177,550 overall

Do you want to know how to invest in real estate in this market?

We will let you in on all the trends and hot investment tips to succeed in this market place.
There are still deals in the market: interest rates are low and getting lower.

For information on purchasing property in the Seattle area, buying a condo , a houseboat, a townhouse or investment property, click the link below.

www.seattlehomesite.com
and
www.homeagainproperty.com

Charles is a Cartus Network Referral Specialist (CNRS), a certification given only to realtors of "Proven expertise at the highest level".

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Seattle Waterfront Commercial Property for sale 

Over One Acre on Shilshole Marina, Overlooking Hiram Chittenden Locks

Once in a lifetime opportunity to own waterfront commercial property in Seattle. Over an acre of land (1.23 acres) zoned C1-40 on the ship canal just past the Ballard Locks near Shilshole Marina.Owner financing available.Feasibility and survey completed. Building currently rented to a catering facility providing monthly income. Can be a restaurant, townhome or condo enclave, work/live lofts,or your dream come true.

MLS# 28111812

Waterfront view of the Ship Canal on Elliot Bay, from the property

Wall Street Journal Rates STRONG Real Estate Markets: Seattle Houston Dallas 

Seattle rated as top real estate market in April Wall Street Journal Article

An April 24th article in Wall Street Journal rates Seattle as a number one in strength of its real estate market. Houston is second and Dallas thried.
These ratings are based on employment growth and loan payments overdue.
Seattle has a strong employment outlook and less than 3% loans overdue.

Houstan has a very strong employment outlook, but a 40% loan default rate.
Both Seattle still shows a 4% increase in home valuations and Houston has close to 10%.
There are still strong pockets of growth in this market. Do not wait and miss out. Prices are still increasing and mortgage rates are very low! In these markets, it is still a very good time to invest.

April Mortgage Squeeze- what does this mean to you? 

mortgage providers tighten hold

Mortgage brokers are becoming more selective in the loans they grant. Buyers can expect to pay at least 10% down payment. No longer will you see zero down loans, at least for the time being.
What does this mean for you, the buyer?
The good news is that there is less competition for properties.
The bad news is that you may not qualify with your lender to purchase the property of your dreams.
What to do?
Ask your real estate agent for referral to a qualified mortgage specialist. These specialists can explain what mortgages are available to you, calculate what your downpayment and monthly payments would be, and pre-qualify you for a loan.
Then, when you find a house or condo to purchase, your financing will be in place.
Sellers are now nervous that an offer for their home may not lead to a sale if the buyer can't find a loan. Therefore, they are eager to sell to prequalified buyers. This may even be a bargaining chip to obtain a lower price.

"Purchase a house at these low interest rates and you make money even if it depreciates 20%. Ask me!"

Almost Ides of March Update 

The last three weeks have been very busy in our office and the King County, Washington, real estate market in general. For the first time in months more real estate properties have been purchased
than are on the market.

Listings of properties for sale have increased dramatically but are being sold at a higher rate than are being listed.

These numbers will begin to hit the media in about a month but it appears we have finally hit the bottom of the market.

Interest rates have gone up a little bit because of the volatility in the bond market early last week but hopefully the bond market
Will settle down and interest will go down below 6% again.

If you are considering making an offer I would advise you to make your offer before either interest rates go up much higher or prices begin to appreciate more than the current rate of 4%.

Walkability 

The new trend in real estate

Walkability is the newest term used to value a home. Walkability is the degree to which you can access amenities by walking from your home.
For instance, is there a coffee shop near your home? A grocery store, restaurants, shoe stores, deli?
Home owners are now searching for homes with walkability.
Here are some websites that help you search for a home, or rate your own neighborhood.

http://www.walkscore.com/

http://www.gmap-pedometer.com/

AMAZON: Moving to NEW HQ,in South Lake Union Seattle: 

3000 MORE EMPLOYEES moving to Seattle

Amazon's Seattle headquarters is moving to new and spacious headquarters in South Lake Union area of Seattle. This move will enable the company to bring together its 4,000 local workers. Those employees are currently scattered about in five separate facilities around town, linked by buses continually shuttling between the buildings.
Site includes 1.64 million sq. ft. (147,600 sq. m.) of headquarters space in 11 new buildings for 7,000 employees. This will bring together the current pool of Amazon employees, of 4,000, and add 3,000 new hires.

http://www.siteselection.com/ssinsider/bbdeal/

Consequences of breaking a real estate contract 

Useful info, especially if you have difficulty finding a mortgage and need to back out of a contract

Real Estate contracts are complicated legal documents and are quite involved. Every agreement in a real estate contract must be written into the contract or else that agreement is invalid. There is a reason for this. All parties involved with the real estate contract need to understand clearly each phase of their real estate transaction. When you enter into a real estate purchase and sale agreement with another party it is imperative that you understand the various steps needed to be taken for that contract to be fulfilled.

When will the market turn around 

Wonder when the real estate market will turn around? Take your best guess. The experts don't know. My best guess, between mid- April to July.
That's right!
Soon.

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THE REAL ESTATE MARKET IS TURNING AROUND 

One of the main factors delaying the turnaround is fear

CONSUMER CONFIDENCE

Sure, there are many foreclosures in some markets, but nationally, real estate is a good investment.
Here's why...

READ FULL ARTICLE HERE



THEY ARE NOT MAKING ANY MORE LAND

With increases of population growth, it is inevitable that land will become a more and more valuable commodity.

Many markets are still having annual growth and appreciation of real estate prices.
However, investors are afraid there will be a more serious downturn and they will be left losing 10-20% in the coming year.

This is NOT likely.

Here are a few reasons.

1. Interest Rates at an all time low today.

2. Jobs: The unemployment rate is low.

3. Federal incentives

Rents rise as morgages decrease 

It's a good time to buy a home!

Recent news articles reported rent increases in the Seattle area went up over 28% in 2007.
It's a good time to buy a home!
100% financing is still available to those with good credit.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aI6LnkbBJexQ&refer=home

http://archives.seattletimes.nwsource.com/cgi-bin/texis.cgi/web/vortex/display?slug=rentals03&date=20080203&query=real+estate

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Keep up to date on the real estate market

Click here to join our fan club and be informed!!!!

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Really cool business books 

I just had to share these inspiring business books with you...

Harry Potter? GE? What's not to like?
If Harry Potter Ran General Electric: Leadership Wisdom from the World of the Wizards
If Harry Potter Ran Gener...
Harry Potter and Philosophy: If Aristotle Ran Hogwarts
Harry Potter and Philosop...

What are the best neighborhoods in Seattle? 

Which neighborhood do you like best? Where would you like to live?

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Great Stuff on Amazon 

Real estate investment books

How to be a real estate millionaire, and how Wall Street caused the morgage crisis.
Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis
Chain of Blame: How Wall...
Be a Real Estate Millionaire: Secret Strategies To Lifetime Wealth Today
Be a Real Estate Milliona...
Home Buying For Dummies, 3rd edition
Home Buying For Dummies,...

Amazon Spotlight 

Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!

Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!

by: Robert T. Kiyosaki, Sharon L. Lechter

Amazon Price: $12.99 (as of 11/07/2009)Buy Now

Great information for investors

Top 10 Tips to Go Green 

Biodegrade, energy efficient products

Being green means being kind to the earth. You are kind to the earth when you tread lightly leave behind only a gentle imprint. The best rule of thumb is to simplify. Reduce consumption and increase reuse.

READ FULL ARTICLE HERE...

Tips For Earning The Most Money Flipping A House 

If you have imagination and are willing to roll up your sleeves, you can make money as a home flipper.

In the current real estate market it is harder and harder to make a profit when flipping a house.

Here are tips to increase your profit margin when flipping a house.

WORK WITH A REALTOR
Though it may be tempting to sell a house yourself, the reality is that unless your home is listed on the MLS and unless you are paying commission to a realtor, your home will not be viewed by many people and will be much harder to sell. Only 10% of people successfully sell their homes themselves in a good market, and in times like these, the odds are even stronger against a For Sale By Owner listing.

There are a lot of deals in the market right now.
It's a buyers market, and if you are looking for a home to flip, that means you.

Use your good taste, invest well, plan well, and you can make money flipping houses.

Have fun.

READ FULL ARTICLE HERE...

South Lake Union Streetcar 

New Streetcar expands Seattle Neighborhood. Amazon and Microsoft are both moving offices here. Amazon

Photos of South Lake Union and the new Streetcar, aka the SLUT.
This is a wonderful up-and-coming neighborhood, now with easy commute to downtown Seattle.
Amazon.com
and Microsoft are both moving offices here. Amazon is relocating it's entire operations to South Lake Union. Lots of great condos going up.

curated content from Flickr

Reader Feedback 

Lensmaster

MelanieJGrimes wrote...

Thanks for the photos of the Seattle Streetcar

ReplyPosted April 21, 2008

Lensmaster

beachbum_gabby wrote...

this is a great resource esp for those in the field of real estate and those who are looking for a house. Well done.

ReplyPosted April 21, 2008

Lensmaster

wrote...

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ReplyPosted March 27, 2008

Lensmaster

wrote

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Reply Posted March 27, 2008

Lensmaster

ShortSaleRealtor wrote...

Great lens and a hi 5 to you

Click here for real estate referrals

ReplyPosted March 20, 2008

view all 25 comments

FED Lowers interest rates--- As predicted!

We predicted it!
(See below.)

The Fed drops interest rates 1 1/4 percent.
(We predicted 1 1/2.)

This lowers 30 year fixed morgages to around 5%.

Our next prediction:
Jumbo loans - up to $750k or so- will soon be available to home owners.

Real Estate Investment Information - for sale on eBay 

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eBay

January 2008 Real Estate Advice Newsletter 

SEATTLE TIMES Headline 2007 recap: Real estate remains healthy here. (January 12, 2008)

Seattle Time headline today (January 12, 2008) reads:
2007 recap: Real estate remains healthy here.

King County real estate appreciated 7.1%.in 2007, with condos increasing a whopping 12%.

Median sales price rose from $254 to $286. (The highest price home in the county sold for $17.5 million!)

For first time homebuyers, getting into a new home is harder. Only 204 homes were sold for less than $200K - that's 0.9% of the available homes.

Great indicators for the future of Seattle Real Estate Market

Unemployment has been steady for the last 10 months at 3-4.6%. The state economy is producing jobs at nearly THREE TIMES the national average

57,600 added in the last 12 months
Microsoft adding 4000 new jobs each year for the next 10 years
Boeing added 12,000 new jobs
Other employers: Google, Eddie Bauer, Yahoo, Expedia and Amazon

Office occupancy is at all time high.
King County 92%
Pierce County 83%
Snohomish County 89%

Population Growth: 58,000 new residents.
%u2022 Last year, only 11,000 new apartments became available, while 57,000 new residents arrived.
%u2022
Rental vacancies are low, --- declining from a low 7% to now just 4%! And rents are increasing faster than home prices!

New Construction starts are also at a 10-year low
20% fewer starts
Four of the six master-planned communities in this region are virtually sold out
Home Mortgage rates have declined to a two-year low.

Real Estate is expected to appreciate at 2.6- 5.9% statewide this year. King County appreciation will continue at last years rate, at least, of 7%.

FED RATE DROP provides a great time to invest 

Seattle Real Estate Market is still hot!!!

The feds decision to drop the rate by .5% creates a dynamic impetus to the housing market. For Seattle, this means more reason to invest in an already booming market. Condo prices have gone up 20% in the last year and this market shows no signs of slowing down. Seattle has not had the decline that other cities have shown. This is due to the influx of new jobs, especially in aviation, hi-tech and biotech. Many new condos and condo conversions in Fremont, Ballard, South Lake Union, and Belltown are all selling well. This is a good time for buyers, with a bit more inventory available than we've had in the recent past, so deals can be had. Contact me now, for more information.

CNN news 

click here for the latest worrisome news from CNN.
The worst sales in new construction reported.
However, this is not ALL bad news. The bottom is close, if not behind us, in many markets.

http://money.cnn.com/2008/01/28/news/economy/newhomes/index.htm?cnn=yes

REAL ESTATE IN SEATTLE IS HOT!!! 

Condos, Townhomes and Houses

Market conditions in the Seattle real estate market are heating up. Properties that have been on the market all winter are selling quickly. Buyers who waited to see if the market was stable are realizing that they must act now to avoid increased prices that this year will bring. There are more buyers than sellers, making this a sellers market, and bidding wars have become commonplace.

Call me now so you can take advantage of Seattle's strong real estate appreciation in 2007.

MARKET DATA
There is no sign of a downturn coming any time soon.
Prices up 14% from this time last year.
There are more buyers than sellers.
Interest rates for a 30 year fixed rate is now below 6%, at 5.68%.
Home prices in King County are up 9% from a year ago.

This HOT real estate market is driven by a number of factors.
The region's ecomony has grown with the number of jobs returning to pre-recession numbers. The over 70,000 jobs that were lost between 2001-2004 have been replaced, increasing housing demand and straining housing affordability.
An estimated 1.2 million residents are estimated to be moving to the area in the next 10-20 years, which willm keep demand and prices for housing strong.

The condo market is red hot. Condo sales in King County median price were $275 in January, up $45k (19.6%) from a year ago.
Demand will outpace inventory is the prediction of one MLS director.

SELLING YOUR HOME
June is the best time of year to put your home on the market, because buyers are absorbing inventory at a rate higher than the rest of the year. There is curently less than a 3-month supply of single family homes for sale, and 2-month supply of condos.

NEWS FLASH on Interest Rates 

What will the Fed do next??

Many analyst think the Fed will continue to lower interest rates.
How does this change morgage rates?
When the stock market goes up, the bond market goes down.
The bond market is tied to the morgage market.
Expect morgages to go up or stay the same for a few weeks, then lower SIGNIFICANTLY.
This will be a great time for home buyers to purchase homes, especially those that have been on the market for a few months, where the seller is anxious to sell.
Any downward move would make this a GREAT time for real estate investing.
Even if the housing prices drop, the finance a home at 5 percent is a terrific saving over 30 years, compared to 9 percent.
If housing prices continue to fall, interest rates could rise to 9 percent or more, as we saw in the 1980s.
More news as it happens...

King County 3rd Quarter Home Sales Report 

This just in...

For all home sales in King County, the average price in the third quarter was 400k. That is a 5.5% change from last year. Average cost per square foot was $374. Number of homes sold in the third quarter of 2007 was 10,417. This is a 20% decrease from the year before.
In Seattle the numbers are better. While the volume is down in most neighborhoods, sales prices show increases from 5 to 48%! Zip code 98101 showed the greatest appreciation (48%). With Queen Anne at 21%, University District at 20%, and North Seattle at 18%.

SOLD: Condo Listing in Bellevue $275.000 

Walk to Microsoft Campus from this two bedroom condo

Northwest MLS # 27148113
This condo is now sold.
Contact us if you are interested in similar properties.

Newly remodeled larger two bed room, two bath condo, walk to microsoft, deck overlooks wooded area, stone fireplace, marble kitchen countertops. Updates include: new lighting fixtures, closet organizers, new plumbing, wiring, custom bathroom tile. Pool and clubhouse. Covered parking + large storage unit w/workbench. Easy access to 405, 520, UW and MSFT. Perfect condition. Move-in ready. Must see!

Winter Newsletter December 2007 

The end of 2007 provides a great investment opportunity in the Seattle real estate market.

Real estate Trends are currently driving the Seattle real estate market higher!

1. Interest Rates at an all time low today.

2. Jobs: The unemployment rate in the Seattle area is under 5%. There are many high income jobs available in Seattle in the areas of technology, medicine & bio-tech.
3. Consumer Concerns: Consumer's are concerned that the dip in national real estate prices and the mortgage crisis in sub-prime loans will cause a drop in
real estate values in the Seattle area. Consumers do not want to be exposed
to a drop in value if they purchase now. Buyers want to wait until real estate prices begin to trend up so they are assured they are making the right choice.

The Seattle area excels in the first two trends that drive real estate value. Mortgages are available at around 6% and job growth is at an almost historic high in Seattle. We are experiencing an in-migration of population from other parts of the country because of the local economy and foreign immigration is rising as well. The government reports that the population of Seattle will double in the next 26 years.

Building in Seattle is challenging as we are limited by water and mountain boundaries, a strong growth management planning act and almost all of the build able land has been improved already. Therefore you must tear down homes to build new almost everywhere in Seattle and this gives added value to existing homes. In many parts of the country builders can just keep building developments that tend to over supply the real estate market. This is not true in Seattle.

With a strong local economy, low interest rates and a strong growth in population over the next two decades investing in Seattle real estate is a very low risk investment. A buyer needs to overlook the short term concerns and study these economic trends. For the next short while Buyers will have an advantage in being able to purchase property
in Seattle because consumer concerns of mortgage crisis and housing price drops will
work to their advantage. Buyers will be able to negotiate better terms for now but as soon as the rest of the Buyers come to this conclusion a Path Behavior will be established, because the emotional fears of consumer concerns will go away,
and then the ability to negotiate favorable terms with sellers will disappear as the Seattle Real Estate market will heat up again because of the favorable economic conditions.

The next ten years will also be the golden age of owning rental property in Seattle area because of the growth in our economy and the growth in our population bringing a new in-migration of quality employees looking for housing in a limited rental market caused by the large scale condo-conversion of apartment buildings and a limited amount of apartment construction in the last five years. I have over 30 years of property management of apartment rentals and will be able to help you purchase a property correctly and set you up with a management plan of how to operate the rental once you have purchased it.

If you are considering buying real estate in the Seattle area now is the time to buy. I can help you negotiate price and terms that will create real value for you over the years. Please give me a call and let's get the job done.

Charles H. Grimes
206-817-6677
charlesgrimes@cbbain.com
www.homeagainproperty.com

HOT TIP OF THE DAY 

Seattle zoning density has changed. How can this benefit you???

Zoning in close-in neighborhoods has changed dramatically in recent years. Single family home zoning has changed to L1, L2, L3 and even NC40.
This means that were single family homes once stood, condominiums can be built, and even zero lotline townhomes.
This means that single family homes on lots of 5000 square feet and more can be turned into 3 townhomes, or sometimes a 4 story condo building.
Buying the right land can reap large financial rewards in these changing neighborhoods.

November Real Estate Update 

Still hot but bargains galore!

Seattle real estate market is still strong. Most metro areas showed a small increase in valuation over last year (from October 2006- Oct 2007). Some neighborhood are still producing double digit increases, such as the Queen Anne neigborhood, which had a 14% increase since last October.

There is now a 6 month supply of property on the market and that makes buying favorable to the buyer.

There are bargains to be had in properties that have been on the market over 90 days, especially for sellers anxious to close by the end of the year.

Contact me for specific properties to fit your investment needs.
206-817-6677

Seattle Neighborhood News 

NEIGHBORHOOD NEWS
BALLARD
$400k is the price for a starter home in this neighborhood. A recent listing in $375 in Ballard was bid up to a $420 selling price, by 7 bidders!
The zero line line town homes are selling in the $350-550 range. Small bungalows built in early 1900s are being priced in the $600s.

GREENLAKE
Most homes here range from $400-$800, with view homes going to $900 and over 1 million in this desireable neighborhood. There are town homes, bungalows and craftman cottages in all of the price ranges.

QUEEN ANNE
Condos here are typically priced higher because of the proximity to downtown. Prices for a small studio start at over $150k, with prices of over $2 Million.

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Community Partnerships 

Coldwell Banker Bain will contribute to the following non-profits and many others, when you buy or sell your home. Call for more information.

Mona Foundation is a 501(c)(3) organization dedicated to supporting grassroots educational initiatives and raising the status of women and girls in the United States and abroad.
http://www.monafoundation.org/

Mona Foundation

Mt. Baker currently offers programs for ages 8-100 in rowing, sailing, and windsurfing for all ability levels.
Mt. Baker Rowing

Charles Grimes real estate blog 

Seattle real estate information

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Real Estate Stuff on CafePress 

Real Estate gear

If you can't afford a house, maybe you can afford the tee-shirt.
GOT REAL ESTATE? Baseball Jersey

GOT REAL ESTATE? Baseball Jersey

From: Canine Couture

Buy Now

Eat, Sleep, Real Estate Boxer Shorts

Eat, Sleep, Real Estate Boxer Shorts

From: My Calling - Sports, Hobbies, and Occupations Gear

Buy Now

Real Estate Women's T-Shirt

Real Estate Women's T-Shirt

From: Real Estate World

Buy Now

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Charles Grimes Seattle Real Estate Blog 

Seattle Real Estate Blog

homes for sale in Seattle

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New Table of Contents 

Information for First time home buyers 

a new service starting

New home buyers have special needs. Contact us for a new service especially for you.

by charlesgrimes

Charles Grimes has been involved in Seattle real estate since 1975.
He is a Certified Referral Specialist with Coldwell Banker Bain in Seattle, Washin... (more)

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