The Downside of Walking Away from a Mortgage

By Zillow Zillow – 1 hr 38 mins ago

Believe it or not, an estimated 11 million people are underwater on their mortgage. That means they owe more to the lender than their home is worth. Because of this, many people are considering a strategic default, or what is known as "walking away from a mortgage." If you feel this way, you are not alone. As a matter of fact, even the most credit-worthy consumers are considering walking away from their mortgage.

"Walking away from a mortgage," or what's known as a strategic default, usually results in either a short sale or foreclosure and many people in this position are asking one simple question: "What would happen if I walked away?"

Consequences of Walking Away from a Mortgage

Before you walk away, you…

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5 Common Mortgage Mistakes

It's baffling that people spend more time researching a vacation or a car purchase than they do shopping for a mortgage, but they do. A recent mortgage survey conducted by Zillow Mortgage Marketplace concluded that nearly half of prospective home buyers don't understand essential mortgage information. If you need a mortgage and don't like throwing away your hard-earned money, learn from these common mistakes below.

[See the best personal finance stories from around the Web at the U.S. News My Money blog.]

1. Misunderstanding Mortgage Discount Points

Here's an astounding data point: Nearly half (45 percent) of those surveyed in the Zillow poll believe they should always buy discount points when obtaining a…

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Welcome to The Cascade Team Lilly Graham

We are happy to welcome Lilly Graham to The Cascade Team Real Estate.

Lilly has been an active agent for several years and most recently worked for John L Scott. She lives on the Sammamish Plateau and works the Issaquah, Sammamish, Redmond and Bellevue markets. Lilly also speaks Chinese.

 We're very excited to welcome such a well rounded and experienced agent to the Team. Lilly already have several deals in the works.

 Lilly's contact information is:

 lillyg@thecascadeteam.com

425-208-2196

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The upside of the housing bust

 By Robert J. Samuelson

 WASHINGTON -- If you're a 20-something or even younger, your economic future is at best clouded. Your taxes will almost certainly be higher than today's; your public services (schools, police, sanitation, defense, scientific research) will almost certainly be lower. Paying for old people, covering rising health costs, repairing dilapidated roads and servicing government pensions and the huge federal debt will squeeze take-home pay. Is there any hope for economic gains?

 Well, yes -- and from a surprising source. Housing. Say what?

 Almost everyone considers the housing collapse a disaster, and it is. Since 2007, roughly 8 million homes have gone into foreclosure. Housing prices, according to the widely cited Case-Shiller index,…

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$2.00 Double Lattes!

To all of you coffee drinkers !      

What?  $2.00 16oz double lattes

When?  Monday-Friday from 2:00-4:00 pm.

Where?  The Coffee Miner (located in the 76 gas station 

            parking lot) kitty corner to The Home Depot

**** Just mention "SHANE AND ANNE" and receive your latte****

SHANE AND ANNE

The Cascade Team 

Real Estate

Always- (206) 915-SOLD (7653)

(425) 996-9523 - Fax

email- shane-anne@live.com

Simply Outrageous Service! 

1% Listing Fee!

Short Sale Specialist

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Carlsbad Area Real Estate & Housing Update - As of May 1st

Southern California’s housing market remained geared towards buyer's in the month of April despite relatively strong demand from investors and others paying cash for homes. Prices have trended up slightly over the last couple of month, but many potential home buyers appear to still be on the sidelines and may still be waiting for a bottom in prices or a relaxing of the mortgage guidelines to allow more people to qualify for homes.

As of May 1st, the median price in Carlsbad for a single family detached home for sale was $744,900.  With inventory trending up, and days on market trending down, the real estate market action index was esentially flat and there doesn't appear to be a strong pull in either direction.  Short term the price action appears to…

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Stunning Burnstead Home on Greenbelt Lot!

Property Website

Priced at $825,000

Bedrooms:  4 Bathrooms:  3.25
Home Size:  3,760 sq.ft. Garage:  3
Lot Size:  6,850 sq.ft. Community:  Issaquah Highlands
County:  King Property Type:  Single Family Detached
Year Built:  2006 MLS Number:  218410

Property Description

Stunning Burnstead home on a large and private greenbelt lot featuring 4 bedrooms, den, bonus room and 3.25 baths. Soaring entry with wrought iron spindle staircase. Chef's kitchen with slab granite counters, tile backsplash, center island with eating bar, Viking gas cooktop and refrigerator and planning desk. Great room with stone fireplace and box beam ceiling. Main floor den with fireplace and built-in bookcases. Luxurious master suite with fireplace, soaring ceiling and expansive…

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Project Crayon Drive Snoqualmie Ridge

Get More Information Here

The Cascade Team is pleased to announce our sixth annual Crayon Drive for Seattle Children's Hospital.  We will be collecting Crayola brand crayons during the month of May for the kids at Seatle Children's. We will have donation points setup throughout the area where you can drop off crayons throughout the month of May. Please begin collecting crayons and help us support the tremendous need that is experienced each year. For more information, please contact us at 800.509.6905.  Also, be watching for our Rady Children's Hospital drive down in San Diego coming this fall.  The Cascade Team is proud to support our local children's hospital's in this effort.

Did you know:

• Children’s Hospital distributes over 240,000 crayons…

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New Snoqualmie Ridge Rental

Property Website

Priced at $2,750

Bedrooms:  4 Bathrooms:  2.5
Home Size:  3,180 sq.ft. Garage:  3
Lot Size:  5,257 sq.ft. Community:  Snoqualmie Ridge
County:  King Property Type:  Rental
Year Built:  2003 MLS Number:  217749

Property Description

Gorgeous Murray Franklyn in desirable Crest View neighborhood. This 4 bedroom, 2.5 bath home with den and enormous bonus room has it all. The kitchen is a chef's delight with slab granite and SS appliances. The family room, living room and dining room offer plenty of space for entertaining and living. The yard backs to a greenbelt for added privacy and includes a sprinkler system. This home has AC and is wired for a generator.

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Luxury Chaffey Homes at Snoqualmie Ridge

Property Website

Priced at $585,000

Bedrooms:  4 Bathrooms:  2.5
Home Size:  3,320 sq.ft. Garage:  3
Lot Size:  5,928 sq.ft. Community:  Snoqualmie Ridge
County:  King Property Type:  Single Family Detached
Year Built:  2004 MLS Number:  217886

Property Description

Bask in luxury in one of the few Chaffey Homes on Snoqualmie Ridge. Wonderful Court location with impressive two story entry. Decadent formal dining and stunning high end finishes. Sleek tile with back splash along with stainless steel appliance in kitchen adjacent to great room that is warmed by the lovely slate tile fireplace and custom built-ins. Splendid master suite with glamorous 5 piece bath. Amazing theater room with charming play/office nook. Catch the stunning mountain views…

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