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December 2017

Found 4 blog entries for December 2017.

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Seattle observers are well aware of the tech industry’s role in the city’s economic boom, but a new report takes it to a new level, finding that more than nine of every 10 office jobs created over the last two years came from the tech sector.

The report by real estate firm CBRE, finds that Seattle tech firms added 23,575 jobs in 2015 and 2016, accounting for 93 percent of all office jobs in the city created during that time span. In raw numbers, Seattle also created more tech jobs than any other single market in the survey.

Seattle has been buoyed by massive growth from hometown tech giant Amazon, which employed 541,900 people worldwide at the end of the last quarter, including more than 50,000 in Seattle. Additionally, more than 100 out-of-town

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Seattle is experiencing a historic shortage of condos, as developers choose to build apartments rather than market-ready living spaces.

One reason for the shortage is an unusually stringent state condo law that makes it easier for condo owners to sue developers for construction defects.

"This is really an affordable housing issue," said Kerry Bucklin, condo attorney with Bucklin/Evens in Seattle. "We need more housing. And in order to have more housing, we need to stop suing developers over ticky-tack complaints."

There are only four tower developments currently slated to include condos in the downtown core.

Before 1999, King County had an average of around 2,000 condos on the market for buyers to purchase. Today, it's lower than 350 -- a

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Across the United States, renters are paying more of their income on rent than ever before, and Seattle is no exception. But what’s the actual hit to the average renter’s pocketbook like?

A new study by Zillow analyzed cost burden from renters before the housing bubble and now. Between 1985 and 2000, typical rent in the Seattle metropolitan area was about 23.8 percent of area median income (AMI). Now, it’s about 30.8 percent.

In today’s dollars, that difference accounts for $5,592 per year, Zillow’s analysis found, but that’s directly comparing median income to median rent. For homeowners, housing affordability improved, with income share spent on mortgage actually dropping a couple of points.

This would imply that the affordability gap

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Rates are still near all-time lows, which means mortgage refinancing remains a good deal for many.

Yes, you can save money by doing a simple refinance in which you swap a lower rate for your existing higher rate. But that’s just one way — and one reason — to refinance a home loan.

Trying to decide if it’s time to refi? These are five good reasons and types:

1. Mortgage refinance to change your rate and term.

2. Cash-out refinance.

3. Refinance to shorten the mortgage term.

4. Cash-in refinance.

5. Refinance to get rid of mortgage insurance.

Rate and term mortgage refinance

Rate and term refinances are the most common form of refinancing. When you get a rate and term refinance, you replace your mortgage with a loan sporting a

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