Mortgage Story

In the wake of the mortgage industry crises, we are all learning of the rampant fraud that pervaded the industry and played a key role in its collapse. Many mortgagees have fallen victim to unscrupulous lender practices and dishonest mortgage officers. I have yet to encounter a worse case of repeated victimization than the one whom is the center of this story. For those victims that want to take legal action against anyone in the mortgage industry, read this story and take heed.
Several years ago Ms. Wang moved to Bellevue from Chengdu China with her two sons; she moved …

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Why the “MASSIVE PRICE REDUCTION”?

Lately I’ve seen some truly remarkable price reduction e-flyers landing in my email. They seem to tout the reduction as a great thing that should make my clients happy and eager to buy their home. I don’t see it that way, and I feel these massive reductions are hurting all of us.

Obviously as agents many are being asked to list homes at absurd prices that do not accurately reflect the marketable value of the home at the time of the listing. I view it as seller’s denial. Apparently some people out there feel they still hold a lottery ticket …

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Seattle Real Estate, Bellevue Real Estate update

No Housing Woes In Booming Washington State
SAN FRANCISCO (Reuters) - While California suffers in the housing crisis, the economy of nearby Washington state is flourishing with strong job growth and some of the highest appreciation in home prices in the nation.
The outlook for Washington ’s economy is bright because so many people are moving there in response to help-wanted advertisements. Seattle , the state’s biggest city, is an especially hot job market, boosting confidence of sustained growth.
Microsoft co-founder …

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Bellevue area real estate market news

Key Indicators for August Home Sales Around Washington
Show Continuing Trend of Fewer Sales, Higher Prices  

Bellevue , Wash. (Sept. 10, 2007) – Housing activity around western Washington during August resembled the pattern of the past several months with inventory continuing to grow, fewer homes selling and prices increasing compared to the same month a year ago.

New figures from Northwest Multiple Listing Service show pending sales in its 19-county service area dropped more than 22 percent from twelve months ago, while prices rose 2.8 percent. Last month’s volume of pending sales, which totaled 7,751 transactions, was down about 10 percent from …

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Beware Rental Scams Operating on Craigslist.com

As you may have read in my previous Blog, the Nigerian 419 scam has invaded our very own realty market here in Washington State. This is a fairly sophisticated scam that many people have fallen for and lost thousands in the process. Any clients you may have that are intending to buy property for the purpose of renting it out needs to be aware of this situation.

One popular free advertising source known as Craiglist.com is a steady source of victims for the scam artist operating out of Nigeria and the UK. However, it’s not uncommon for listings on the …

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Bellevue Market update

A quick note on the mortgage market

BREAKDOWN, TAKEDOWN…YOU’RE BUSTED!” Bob Seger That classic 80’s lyric aptly describes the market last week, as the Stock market suffered a breakdown, analysts got a takedown, and many investors felt they were busted as Stocks sold off hard on Friday. Why? The result of a super lousy Jobs Report number on Friday morning. US job growth in August was actually negative for the first time in four years, with a loss of 4,000 jobs. And the shocker was that analysts had expected somewhere close to 110,000 new jobs to be created!

But while Stocks suffered …

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Nigerian 419 Scam Artist Prey On Our Residents

Many months ago I had just sold a clients condo and she was looking for a place to rent; she called me one afternoon for my opinion on an offer she had received after posting an advertisement on Craiglist.com. She was really exciting and wanted to share it with me. She had received an email from a Washington businessman that had moved overseas. He had a beautifully furnished home in Seattle with a view. He said she could live there rent free if she would take care of the place, and perform one small task for him and his business. …

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Market Update From www.SeattleAreaHomes.com

Seattle Real Estate Market News from Amie and David Sprague
September 2007

Inventories are up but prices contiue to rise overall

Overall the Seattle area real estate market remains strong as compared to the rest of the country.

Only five of the cities surveyed for S&P’s 20-city index showed a year-over-year increase in prices in June. Seattle led the way with a 7.9 percent price rise, followed by Charlotte (6.8 percent) and Portland (4.5 percent). Atlanta and Dallas (1.6 percent each) rounded out the group.

Prices in Boston dropped in June at a slower rate than they did in May, continuing a …

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