Seattle median home price leaps past 2007 peak

The median price of single-family homes sold in Seattle rose last month to $543,500, blowing away the last peak of $501,000 set in August 2007 — before the housing bubble burst and the country went into the Great Recession. The Eastside isn’t far from its previous peak. [Read more…]

Bidding wars on home sales surge in King and Pierce County

Almost 40 percent of homes sold for more than list price between April and June in King and Snohomish counties, an indicator that bidding wars are pitting buyers against each other. But not all neighborhoods are equally roiled by competition for homes [Read more…]

Pierce & Thurston counties see higher home sale prices in June

Western Washington’s real estate market continued its steady improvement in June, data released Thursday show. [Read more…]

Whole Foods finally coming to Tacoma area

The city of University Place wants all the skeptics and doubters to know that Whole Foods is indeed coming to the Town Center development at the corner of Bridgeport Way West and 35th Street West.

“Whole Foods is under lease, the financing is complete,” city attorney Steve Victor said at Monday night’s City Council meeting. “We issued the first permit Friday.”

City Manager Steve Sugg made the announcement as part of his regular update to the council, putting to rest any rumors that the high-end, certified organic grocer would back out of its deal with the city and locate elsewhere in Pierce County.

“That should dispel all the rumors out there that Whole Foods was going to go elsewhere,” Sugg said after announcing the city had closed on the real estate deal with Verus Partners, LLC — a deal that was first made public in early November.

One rumor suggested the company would come to UP, but would occupy the recently vacated Albertsons space.

“This is a huge milestone of fulfilling the council’s goals for economic development,” Sugg said Monday.

Whole Foods has planned a public groundbreaking ceremony forMarch 26 at 2 p.m. It anticipates opening the store by March 2015.

Victor said he heard bets were being made in other cities as to whether the deal was legitimate.

“I understand there has been some skepticism on the part of some people here, but also some of the other cities,” Victor said.

Three pieces of heavy machinery were on the lot Monday evening, and Sugg said they were moving dirt earlier in the day.

City Council members commented Monday about the significance of Whole Foods choosing University Place as its first location in Pierce County.

“We finally have our anchor tenant that will hopefully start our domino effect,” said Mayor Denise McCluskey about the city’s larger Town Center vision.

The $10 million Whole Foods project will be built north of the library and the recently opened Clearview 100 Apartments, which sit above retail space including recently opened Jersey Mike’s Subs. No public money would be used to build the store.

The store is projected to be 38,000 square feet and bring 100 to 120 jobs. It will offer a combination of surface and underground parking and will be one of the first buildings people see when they approach Town Center driving south on Bridgeport.

Verus Partners purchased the 106,234 square-foot lot from the city for the Whole Foods location. In November Victor estimated the city would receive close to $480,000 in the transaction.

Source: News tribune

Big rebound in home equity

Thanks to rising prices and equity levels, about 4 million owners around the country last year were able to climb out of the financial tar pit of the housing bust — negative equity, a financial situation that gums up people’s lives and the real-estate marketplace as a whole. [Read more…]

It’s Tax Time! See Tax Breaks for Homeowners

Calling all homeowners!  With tax season rapidly approaching, it’s time to get your paperwork in order and consider all the ways to minimize your tax liability.  Whether you’ve got a single-family home, a town house, condo, or even a floating home, there are various home-related expenses that you should be sure to deduct. We suggest starting with these: [Read more…]

King County Home prices climb back towards highest levels

The median price of single-family homes sold in King County in 2013 hit $415,000, its highest in five years, as the local housing market’s recovery gained steam. [Read more…]

Are you ready? New QM rules change home mortgage lending for 2014

As a mortgage originator (loan officer) for over 10 years  me and my colleagues have been waiting for this QM rule to go into effect.  What effect will it have on our clients at the end of the day in terms of higher interest rates? How many people can longer be approved? and how many can’t buy the home they wanted?  I know that some people will just say that they were qualified before, but working on loans day in and day out these make sense deals will no longer fit into that category.  They will need to get a different type of loan now and pay more in fees and interest rate to obtain that loan.  [Read more…]

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