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August 2017

Found 3 blog entries for August 2017.

$1 million homes are increasingly common, even in neighborhoods once considered middle class.

 

Zillow, the Seattle-based real estate technology company, found that nearly one in 20 residential ZIP codes in the U.S. meet that definition, and that there are a total of 1,280 neighborhoods in the country where at least 10 percent of the homes are worth seven figures. Zillow found that Seattle is among cities with the highest number of $1 million neighborhoods.

 In the Seattle area, where a booming technology sector led by companies such as Amazon, Google and Facebook has propelled housing demand and prices to record highs, the city has 38 $1 million neighborhoods, putting it at seventh among the top 10 cities nationwide. 

Zillow real estateIf you’re in the…
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The down payment. It’s the only thing keeping you from a home of your own. You’ve got a good job, you’re paying down debt, and mortgage rates are still remarkably low. And rental rates are getting ridiculous.

Let’s see if we can break down this home buying barrier.

It doesn’t always take 20% down

If you’re a first-time home buyer, the down payment hurdle you have to clear may be quite a bit lower than you think. Traditionally, lenders have preferred 20% down, but a lot of low down payment options are available, especially to first-time buyers.

Mortgages guaranteed by the Federal Housing Administration, Department of Veterans Affairs or Agriculture Department can be go-to low down payment loans. In fact, mortgages backed by the VA and the

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The median King County home price has grown more than $100,000 in just a year.

Following up on a record-breaking spring, the county’s real-estate market had its hottest month of July since such monthly records began in 2000, with prices rising 18.6 percent from a year ago.The new median price is $658,000, or $103,000 more than last July, according to monthly data released Monday by the Northwest Multiple Listing Service.  Just a down payment on the median house costs about $20,000 more than a year ago. So first-time buyers who didn’t save up that much in the past year are further from buying a house today than they were a year ago.

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George Moorhead of Bentley Properties in Bothell said his office is working with 60 first-time homebuyers right

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