Remove Housing Market Remove Property Taxes Remove Supply Chain
article thumbnail

Seattle documents renovation programs, tax relief for aging in place

Housing Wire

The Seattle area is a hot housing market. And a state property tax relief program recently raised its maximum income threshold to allow more Puget Sound-area seniors to qualify. Even if you have your home paid off, if you can’t afford the property taxes, that’s a problem,” she said. year over year.

article thumbnail

Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

The monthly house payment to buy a renovated foreclosure — assuming a 5% down payment, the going 30-year fixed mortgage rate at the time of sale and including property taxes and insurance — represented just 20% of the median family income in the surrounding Census tract.

Inventory 435
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Housing Inventory: How Did We Get Here?

Appraisal Buzz

Cullen: Vacant properties present a number of challenges, not only for the housing market, but also for neighborhoods and communities. And if the borrower was not paying their mortgage, they probably were not paying property taxes or keeping the property in shape, either.

Inventory 221
article thumbnail

WILL WAR IN UKRAINE IMPACT OUR HOUSING MARKET?

Will Springer Realtor

This is in no way an effort to downplay the unfolding tragedy or appear tone deaf, but it is a fair question: Will residents in our region face economic challenges so severe that it will affect the real estate market? The supply chain, already strained, may come under renewed pressure with threats to shipping lines and air travel.

article thumbnail

UNDERSTANDING THE TRUE COST OF HOMEOWNERSHIP

Will Springer Realtor

By embracing a comprehensive understanding of the true cost of homeownership, individuals can navigate the turbulent waters of the housing market with confidence, ensuring a secure and sustainable future for themselves and their families. Annual property taxes are, gulp! ELECTION YEAR EFFECT? List: $13.9M ($2000/sq.

article thumbnail

Will Springer Realtor - Untitled Article

Will Springer Realtor

In many cases, the long lag time to complete projects is no longer from dreaded supply-chain issues. Compounding the demand is a consumer public determined to stay put for several more years rather than dive into a real estate market clouded by higher interest rates. Property taxes are steep at $60K a year.

article thumbnail

Mortgage rates are in a holding pattern. Tariff uncertainty may be the culprit

Housing Wire

They could also precipitate harsher conditions for a housing market that has yet to fully unfreeze. A recent consumer survey published by real estate technology firm REsimpli shows that Americans are concerned about the impacts of tariffs on an already hobbled housing market. housing market. housing market.