KING-5 News reports that Seattle is experiencing a stronger real estate performing the best in 5 years. Small home inventory, increase in home values and excited buyers are contributing to the favorable performance.
Check out the full article and news report video at KING-5 News.
AMS Inspection Services is a home inspection company based out of Leavenworth, WA, with inspectors in Seattle, Wenatchee and throughout Chelan and Douglas counties. AMS Inspection performs blower door tests for on new construction projects.
Now that our Seattle and Wenatchee home inspection company offers HVAC testing (duct blaster) for new construction homes we like to keep an eye on the new construction permits. The 2009 Energy Code for HVAC Sealing requires a third-party verifier to make sure the HVAC system complies with the minimum performance requirement, therefore, we are hired to conduct the HVAC duct testing.
In the May/June issue of the BIAW’s Building Insight Newsletter the chart below displayed a positive sign of recovery in the building industry since 2010. Spokane, Pierce, King, Franklin and Benton Counties helped to push the May 2011 building permits over the May 2010 totals. The overall improvement for 2011 shows a 38% increase in building permits year-to-date in May. Chelan, Mason, Kittatas, Cowlitz, Island and Jefferson Counties didn’t have much change from May 2010 to May 2011. Let’s hope the trend keeps improving for Washington’s building and real estate industries.
Source: BIAW Building Insight, Residential Building Permits Issued May 2011
Posted in biaw, builder, real estate data, Washington Real Estate, Wenatchee Real Estate
Tagged 2009 energy code, biaw, building permits, chelan, chelan building permits, duct blaster, energy code, home inspection, hvac testing, king county building permits, leavenworth, seattle, seattle real estate, spokane county building permits, wenatchee, wenatchee homes, wenatchee real estate
Our Wenatchee home inspection company is a member of the North Central Home Builders Association. In the May/June issue of the Building Industry Association of Washington’s Building Insight Newsletter they included the chart below. The green states show the best recovery predicted from 18 months from now. These are promising numbers. It is careful to note that the building demand may return but the cost of building may also increase. With many out-of-work skilled laborers finding different jobs and mills shutting down during this construction lull the labor and materials may be in short supply and thus increasing the cost of new homes. Those that are able to make investments right now are in a fine position to get the best deals.
Source: BIAW Building Insight May/June 2011
Posted in biaw, builders, quarter housing market report, real estate, real estate data, real estate trends, washington real estate market
Tagged biaw, building industry recovery, construction industry, home builders association, home inspection, housing market, leavenworth, seattle, seattle home inspection, seattle real estate, washington building industry, wenatchee, wenatchee home inspection, wenatchee homes, wenatchee real estate
We perform home inspections in about 10 counties throughout Washington from Seattle to Wenatchee. Occasionally our clients call to book an inspection and are still a little confused about the inspection cost– who pays it, how much it is, etc. We did a little internet search and found a few closing cost calculators that may help the potential home buyer. The calculator we are sharing seems to have the most descriptions of the costs, but will only give you a rough idea since the costs are only estimations. For example, they estimate the cost of an inspection at $175, but our inspections start at $275…this is standard for a single family home. Condos may be less. Also, the appraisal fee usually starts around $300. A loan application fee will be added to the credit report for a combined fee of $75-$300. With all this in mind you can use the calculator to get an idea of the added costs associated with buying a home. If you have a good agent to walk you through the buying process then you won’t be blindsided with these costs. They can also help you negotiate fees that may be shared with the seller.
Closing Costs Calculator from Mortgage-Investments.com
Posted in closing costs, freddie mac, home inspection, homeowner, issaquah, king county, kirkland, Leavenworth Real Estate, mortgage, purchase, real estate, real estate data, real estate trends, realtor, redmond, seattle, seattle real estate, seller, taxes, washington, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, yakima
Tagged appraisal, chelan, closing, closing calculator, credit report, escrow, home inspection, home loans, leavenworth, loan application, mortgage, mortgage closing costs by state, seattle, wenatchee, yakima
In a time where buyers are cautious and are really weighing out all the benefits of home ownership here are some considerations for tax season. Several tax deductions and credits are providing relief to homeowners and making them very proud of their investment decision. Deducting mortgage interest, home equity debt, capital gains on home sales and taking advantage of energy conservation credits are just a few of the tax season benefits that homeowners can cash in on. Do you have a home office? There’s another one. Most of our monthly home loan payment is interest and you can deduct every bit of it. Only those folks with a loan of $1,000,000+ receive a cap on this deduction.
Stephanie Singer, a Realtors.org contributor wrote about this topic in Tax Time Less Taxing for Home Owners. She said that, “ninety-one percent of homeowners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.”
We found a great resource from Kiplinger.com. They have listed all the deductions for homeowners at “What’s Deductible? – A to Z.” Check it out to make sure that you’re getting the most deductions as a homeowner. We use a skilled accountant in Wenatchee to guide us through our own tax deductions. We suggest that you hire a recommended accounting professional to point out these important opportunities for you.
Posted in builder, builders, chelan, closing costs, home inspection, home inspector, home owner, home sales, homeowner, issaquah, king county, kirkland, leavenworth, Leavenworth Real Estate, mortgage, purchase, real estate, real estate data, realtor, seattle, seattle real estate, taxes, washington, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate
Tagged accountant, energy conservation credits, federal income taxes, file taxes, filing taxes, home inspection, homeonwer tax guide, homeowner tax deductions, leavenworth, mortgage, mortgage interest, seattle, tax credits, tax deductions, wenatchee, yakima