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3% Down, High Rents & The Sandwich Returns

Today Freddie Mac launched Home Possible AdvantageSM, a new affordable mortgage with a down payment option as low as 3%. Here are the answers to your top questions: “Who is this mortgage for?”  “What do I need to qualify for it?”  “Can I use gift funds as my down payment?”

3% Down: Your Top Questions Answered – Freddie Mac

If you rent your home, you know: Seattle rents are rising. Fast.

Zillow: Seattle rents jump 21 percent in 5 years, could spark home-buying binge – PSBJ

Wealthy Chinese are sinking billions of dollars into Puget Sound area real estate, and by doing so they’re making a clearcut business case for protecting the environment and spending money on education.

The influx of foreign buyers, mostly Chinese, was one of the top real estate stories of the 2014. It’s not just that many foreign nationals are buying here. Rather, it’s how they’re executing transactions, with some paying all cash for pricey assets.

$2 billion and counting: Chinese shake up Puget Sound region’s real estate market – PSBJ

Roughly 40 percent of households in Seattle earn more than $100,000 annually, compared with just 22 percent nationwide…

Why areas with good jobs have hard-to-afford homes – Seattle Times / AP

Fed likely to note gains but signal no rate hike – AP

Hackers Perpetrate Wire Transfer Fraud In Real Estate Transactions – Realty Times

Sandwich lovers of Seattle, rejoice! Paseo is coming back, and quickly.

Paseo to reopen; new owner plans no changes – Seattle Times

 

Image from Freddie Mac