I just took a look at the sample questions provided by the National Mortgage Licensing System for the new national loan originator exam and I must say these are so easy why even bother with a test?  Let’s take a look: If an applicant works 40 hours every week and is paid $13.52 per hour,... »

The FOMC wrapped up their two day meeting leaving the Funds Rate unchanged.   The target rate is remaining at 0-0.25%.  Now that this decision has been formally announced, everyone will be reviewing the Fed’s statement for clues on when they will begin to raise the Fed Funds Rate. From today’s FOMC Statement: …the Committee expects that inflation will... »

Does your neighbor who just bought a “hybrid” car, complain when you hang clothes out to dry? One of the things I like most about Seattle and The Pacific Northwest generally, is the sincere desire to improve.  Improve the environment, improve the quality of life, not only for themselves but for those around them. …and they can... »

There’s been some “buzz” lately about buyers of new construction condos who purchased pre-construction now wanting out of the deal with a return of their earnest money. Motivations vary: they are no longer able to get financing (”WHAT? I need a down PAYMENT!? Since when??”); their life situations have changed (baby +... »

I can’t think of a better way to celebrate Father’s Day than going to a car show with a few of your favorite Dads.   Here are a few of my favorite photos from today’s visit to Burien’s Father’s Day Car Show, which included a chili cook-off.   For more photos, click here. »

There was a new law signed by Governor Gregoire this past legislative session,  SB 5810. Here is the link to the legislative page for the bill. Click on the “final bill report” for a quick summary.  The law gives TENANTS 60 days to vacate a residential home after foreclosure. Currently it’s 20 days (scroll to... »

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo).  This scenario includes reserves... »

Below is a simple diagram of a “normal” sale.  Buyer makes offer AFTER verifying  everything is in order to close, except the appraisal. Downpayment funds in bank? Check. Pre-approval for mortgage? Check. Cash for closing costs in bank? Check. Ready to make offer. Appraisal comes in at the sale price. Buyer ready to close. We’re... »

We already know the folks at RCG love twitter, and while I like twitter, the marketer in me has completely fallen for Facebook Pages (note: these are a very different beast than Facebook profiles)… and if you’re running a small business, there are many reasons you should be interested in FB Pages too. The three... »

The last few weeks have been extremely busy open house wise for us in Seattle – mostly in the $400,000 and under price range or close to it.  Agent hits on the NWMLS for those listings has also soared and the web traffic in general has increased for this price point.   The buyers are definitely... »

Tomorrow will be Day 27 of No Rain in Seattle. The record for no rain in May and June is 29 days. »

(From near the end of this post: “Looks like of the 1,081 combined pendings since 6/1/09, at least 21% are short sales. But of the 1,379 closed in 30 days, less than 2% were closed short sales.”) Read full post for more info. That indicates a HUGE failure rate on Short Sales, though some of... »