Pulte flags mark a neighborhood in the Redmond Ridge East development.

BELLEVUE, Wash., Dec. 27, 2010 /PRNewswire/ -- Snoqualmie Ridge II Development LLC (a joint venture of Quadrant Homes and Murray Franklyn Family of Companies) jointly announced the sale of residential lots and other undeveloped residential land within Snoqualmie Ridge II (SRII) to Pulte Group.  

"This is an opportunity for the Pulte Group to establish an ongoing relationship with both Murray Franklyn and Quadrant, two of the Pacific Northwest's most established and well respected home builders," said John Ochsner, the company's Pacific Northwest Division President.

Both Quadrant Homes and Murray Franklyn will continue to build homes in the community and will retain ownership and Lead Developer role in the Commercial/Retail parcels yet to be…

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Proposals to phase out Fannie Mae and Freddie Mac may make 30-year fixed-rate mortgages harder to find, housing experts say.

An outline drafted by the Treasury Department, the Department of Housing and Urban Development, and the White House and circulated last month calls for winding down Fannie and Freddie over the next five to seven years. Congress continues to debate the future of Fannie and Freddie, and how and whether it should move to phase out the government-sponsored enterprises (GSEs). For its part, the Obama administration has argued for scrapping the GSEs, but replacing them with some form of federal involvement in mortgage financing.

But housing experts warn that 30-year fixed rate mortgages — a popular choice among buyers — might become…

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1) Distressed Homes make up 37% of the Housing Market in King County

2) King County Single Family Home Prices Drop 10.4% Year over Year compaired to Feb 2010

3) Closed Sales in King County Drop 9.2% (Mainly due to the slow process of dealing with Distressed Properties)

KIRKLAND, Wash. (March 3, 2011) – Housing activity during February continued to reflect the downside of distressed properties with fewer sales and lower prices than a year ago. Nevertheless, brokers believe there are reasons for optimism when taking a closer look at the numbers in the latest report from Northwest Multiple Listing Service.

(Note to editors: A distressed property is a dwelling that is in danger of foreclosure or that is in the process of being foreclosed due to…

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Cast member Nicolas Cage arrives for the premiere of the film ''Season of the Witch'' in New York January 4, 2011. REUTERS/Lucas Jackson

(Reuters Life!) - Although sales of foreclosed homes dropped last year, they still account for a quarter of U.S. home sales and the rich and famous are among them.

Basketball legend Julius "Dr.J" Erving, actor Nicolas Cage and hip-hop artist Chamillionaire have all gone through foreclosure proceedings in the last six months, according to forbes.com.

"All price points have been hit by the foreclosure crisis. The rich and famous have not been excluded from that. There are a handful of people in the luxury real estate category that are experiencing foreclosures as well," said Morgan Brennan of forbes.com.

Former Detroit Red Wings hockey star Sergei Federov and Patricia Kluge, the ex-wife of the late media mogul John Kluge, have also lost their…

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Mortgage rates were on the decline this week, a welcome sign for potential home buyers or those looking to refinance.

The 30-year fixed rate mortgage averaged 4.95 percent this week, down from 5 percent the week prior, according to Freddie Mac’s weekly mortgage market survey. Last year at this time, 30-year rates averaged 5.05 percent.

The 15-year, fixed-rate mortgage also dropped for the week, averaging 4.22 percent, down from last week’s 4.27 percent. The 5-year adjustable-rate mortgage dropped slightly to 3.8 percent, compared to 3.87 percent the previous week.

“Low mortgage rates and home prices are sustaining affordability in the housing market,” says Frank Nothaft, Freddie Mac’s chief economist. The National Association of REALTORS® reported…

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boa-mortgage_120 Get pre-quallified and take advantage of The Cascade Team preferred program here:

http://www.thecascadeteam.com/bank-of-america-loans.php 

Mortgage loan applications increased 13.2 percent on a seasonally adjusted basis compared to one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications survey.

The number of refinancings increased the most: The Refinance Index increased 17.8 percent compared to the previous week. Overall, the refinance share of mortgage activity increased to 65.7 percent of total applications.

Meanwhile, the Purchase Index increased 5.1 percent compared to the week prior.

“Ongoing turmoil in the Middle East brought interest rates lower last week,” says Michael Fratantoni, MBA’s vice president of…

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More home owners are falling prey to scams that promise to “stop the foreclosure” and “save your home.”

The Federal Trade Commission has released a report to help borrowers avoid falling victim to such scams, here are a few of its tips:

1. Watch for outlandish claims. "Eliminate your debt!" and "We guarantee to stop the auction" are too good to be true. If it sounds like an easy way out, don’t believe it, the FTC warns.

2. Don't pay up-front costs. Consumer investigator Dale Cardwell warns home owners to beware of any deal that requires you to pay up-front fees. Cardwell says you shouldn’t pay any business or person who promises to modify your loan because only your lender can do that.

3. Beware of those imitating government agencies. Watch out for…

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Obama wants to cut mortgage interest deductions for the rich  By Tami Luhby, senior writerFebruary 15, 2011: 8:08 AM ET

NEW YORK (CNNMoney) -- President Obama's plan to limit two popular deductions for wealthy taxpayers will hit a wall of resistance from entrenched special interests.

The president once again proposed in his budget to curtail high-income earners' tax deduction for mortgage interest payments and charitable contributions.

Under his proposal, taxpayers in the 33% and 35% tax brackets would only be able to deduct their contributions and mortgage interest payments at the 28% rate. It would affect those with taxable income of $250,000 and up and bring in $321 billion over 10 years, according to the White House.

The Obama administration, as well as several tax and deficit commissions,…

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The Cascade Team Real Estate is pleased to announce the launch of our NEW strategic partnership with Bank of America Home Loans.  As a valued client of The Cascade Team Real Estate, you'll recieve no loan origination fee (usually up to 1% of the loan value) and $1000 off your closing costs with Bank of America Home Loans.  In addition, to our 1/2% buyer rebate program, this can substantially reduce your out of pocket expenses in closing your new home purchase.  In addition, there is an additional $1000 credit if you are purchasing an energy rated home (ask your loan officer for more details). With no origination fees, Bank of America and The Cascade Team Real Estate can save you thousands of dollars on your next home purchase.  Be sure to submit your…

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