craiggoebbel

New Afghanistan

Bin Laden is dead, and we are coming up on ten years of engagement in Afghanistan with no clear solution in sight. I believe we need to try something different. This is my solution for bringing peace to Afghanistan: Divide the country into the Southern 2/3rd and the Northern 1/3, Round up all the men, … Continue reading »

Stranglehold baby, stranglehold.

  Just think how easy life would be if we could buy a kit house from the internet for under $2,000.  Life was good in 1903.   Fast forward to right now and things seem very different.  Or, are they?   You see, in 1903 the average price of a home was $2,200.  But wait, … Continue reading »

The Sweet Spot

There is a phenomenon happening here in Seattle that is likely being repeated around the country.   The median price of a home sold is about 10% BELOW what the median income in the region would predict.  I believe this clearly shows the general population is holding back on buying.  In my mind this means normal … Continue reading »

FHA and Vegas, Baby. Connect the Dots.

FHA Lifts Anti-Flipping Ban – According to National Mortgage News, effective February 1 FHA is temporarily lifting their “anti-flipping” rule that prohibits FHA financing on purchase transactions where the seller has owned the property for only 90 days. HUD found this policy blocked potential FHA borrowers from taking advantage of quick resales of real estate … Continue reading »

Banks’ Buybacks of Loans up 373% According to National Mortgage News banks had to buy back $7.1 billion in defaulted single-family loans in the third quarter to reimburse mortgage investors, up from $1.9 billion in the previous quarter. JPMorgan Chase and Bank of America led the field followed by Citibank, National City, Wells Fargo and … Continue reading »

First-Time Homebuyer’s Tax Credit: Part Two?

 According to the Assoiciated Press there are two versions of an extension of the First-Time Homebuyer’s Tax Credit being circulating in the Senate. Both versions are targeted to be put in place by an amendment to the larger bill extending unemployment benefits. One version extends the credit through the end of March, 2010, allows move-up … Continue reading »

Underwater Homeowner’s Tax Deduction

Big Bank gets big bucks.  Big Auto gets big bucks.  Big Insurance gets big bucks. What about Jane & John Homeowner?  You know, clients like yours’ and mine, quietly paying their mortgage every month on a home worth far less than they paid a year or two or three ago.  Often, their mortgage is greater … Continue reading »

Are Rates Heading Up This Spring?

We have experienced a whole season of ultra-low mortgage rates.  Borrower’s who qualify, who own or are purchasing a property that qualifies have been able to cement sub-5% interest rates for up to 30-years.  Why are rates so low?  First, we are in a recession.  Real unemployment is over 16%.  Regrettably, there is nothing on the … Continue reading »

Mortgage Disclosure Improvement Act – You Get What You Order

Pre Amble Today, new disclosure requirements are in effect.  These requirements are being issued by the Federal Reserve, under Reg Z as mandated by the MDIA (July, 2008) as an amendment to the Truth in Lending Act. The application of the Act leaves some guidelines unchanged, creates addition disclosure and timeline requirements and mandates new … Continue reading »

Fearless Prediction – The Seattle Fair Weather Real Estate Recovery

That is right; I have studied the maps, looked at the stars, consulted the hair ball, worn out my boots and talked to those who should know.  The news is encouraging. Foot traffic is up at open houses.  Sellers with listings are serious about selling their homes.  Rates are down, very down.  The State of Washington … Continue reading »