Seattle Real Estate – The best real estate deals in Seattle including foreclosures, unlisted property, bank owned homes, and other hot real estate deals personally chosen by Christian Nossum – Seattle MLS Search
If you’re looking for a slight fixer multi-unit building in a great location for under $350,000, here you go! This Queen Anne duplex near Seattle Pacific University (SPU) just came on the market. Each side has 1 bed/1 bath plus its own garage. One side of the duplex is in great shape-refinished hardwood floors, stainless steel appliances, slab granite counters, etc. The other side looks to be in the original 1955 state. It’s not in horrible shape, but it does need some updating.
The thing that excites me about this house is how the numbers work out. If you are buying this to live in it, and you get an FHA 30 year fixed loan at 5% (which is an estimate, but that’s about what rates are right now), with only 3.5% down payment ($11,434.50), your principle and interest payment would be $1753.80. Market rents indicate that you could get around $850/month in rent for the nice unit. Subtract $850 from $1753.80, and your monthly payment would be $903.50! That’s almost as much as the rent, and you own the place! How cool is that!
If you have any interest in checking this place out in person, if you have any questions, or if you already know that you want to make an offer, contact me – call or text me at 206.949.3048, or email me anytime – Christian@DealsInSeattle.com. (Please note that this is not Christian Nossum’s listing, but he does have permission to advertise it by the listing broker)
Without their service to our Great Nation, we would not be able to enjoy all of the freedoms’ that we have today. Please be sure you make a special effort to thank a Veteran, and just as importantly, our active duty military today (and for that matter, any day that you ever meet one).
To those of you who have served and are currently serving, I humbly thank you for your service and sacrifice to our great country. Thank you.
This cosmetic fixer is a great deal at $173,250. It has 3 bedrooms, 1.5 bathrooms, a large 2 car garage, and a nice yard. It needs a little cosmetic help, but really, after you take out the carpet and throw some paint on the walls it’s going to look a whole lot better! The kitchen appliances are outdated, and that will probably be your largest expense, but that doesn’t even have to be done right away. Keep it the way it is until you get your first time buyer tax credit back (which was just extended today!), and deal with it down the road.
FIRST TIME BUYERS!!!
How could possibly make $1936.25 buying this house? If you get a 30 year fixed FHA loan, you only need to put 3.5% of the price as your down payment (which at $173,250 is $6063.75). The first time homebuyer credit, that was just extended through April 30th, 2010, is $8000.
$8000-$6063.75=$1936.25. (Your ‘principle only’ payment would be just under $900/month (assuming a 5% interest rate).
If you are interested in taking a look at this, or have any questions about it, contact me. You can call or text me 206-949-3048, or email me Christian@DealsInSeattle.com anytime.
Congress gave final approval to legislation expanding an $8,000 tax credit for first-time homebuyers, extending unemployment benefits and providing tax refunds to money-losing companies.
The House passed the measure today on a 403-12 vote, sending it to President Barack Obama, who will sign it tomorrow, according to spokeswoman Jen Psaki. All 12 House members voting against the bill were Republicans. The Senate approved the bill 98-0 yesterday after weeks of delays.
So it looks like it will be finalized tomorrow when President Obama signs it. The details are still not 100% clear, but the gist of it is that first time buyers (those not owning a home within the last 3 years) will be eligible for up to an $8000 tax credit (10% of home price, with an $8000 max), with a sign around contract date of April 30, 2010 (previously, you had to “close” by the end of this month, now you can close up to July 1st, 2010).
Previous Homeowners Are Not Left Out
Another part of this legislation is that a new tax credit for “long-time residents of same principal residence” has been created equaling up to $6500 (again, 10% of the purchase price up to $6500). The basics that you need to qualify for this is that you need to have lived here as your primary residence (no investment properties) for 5 consecutive years over the last 8 years. This is new, and should really help some move up buyers/sellers. Homes worth more than $800,000 are not eligible for this tax credit.
Those are the basics. Remember that I am just a real estate agent, and not a tax adviser, politician, or lawyer. Please seek your own qualified counsel for specifics on this. And remember that this isn’t official until President Obama passes it (which will apparently be tomorrow).
THE TAX CREDIT HAS NOT BEEN EXTENDED YET, BUT IS CLOSE
According to the Washington Post this afternoon, “The bill, which passed 98 to 0, is likely to be approved by the House on Thursday and then be rapidly signed by President Obama.”
“The measure would also extend through April 30, 2010, a $8,000 first-time homebuyer tax credit and create a new $6,500 credit for homebuyers who have been in their current residence for the last five years or more.”
Ifyou were on the fence about buying before, now me be the time! Sellers are more eager to sell during the holiday season due to less active buyers – that means that you have a higher possibility of finding a deal on a house! Let me know if you have any questions about this. I’m happy to help you out.
If you want in on the 1st time home buyer credit, you only have 45 days left to close on your home. When you consider that it takes at least 30 days to close (and you really want at least 35 days to be safe), you need to find a house and get an accepted offer in soon! Like in a week.
As you may or may not know, I limit myself to working with only 3-4 clients at a time. That way I can give each of you the attention you need, while still having enough free time to show you a house that just came on the market on short notice. If you are thinking about buying in order to take advantage of the first time home buyer credit, I currently have 1 client opening available. If you are interested in talking about real estate and getting your questions answered, now is a good time for me to help you. All of my contact info is near the top on the right side of the page. Feel free to call, text, or email me anytime.
NEW ON MARKET – A diamond in need of a little polish. An exceptional value at this price. Located on one of the best streets on North Capitol Hill, this bank owned foreclosure with a 180 degree unobstructed view is surrounded by multi-million dollar homes. This 5 bed, 3.5 bath home is in need of your cosmetic help. At this price, it will not last long.
So many options:
-Live in it
-Live in it, remodel it on your schedule, and sell it in two years (or more) to avoid the capital gains tax
-Flip it. Comparable remodeled properties range from $1.65 million to over $2 million in this neighborhood
-Live in it and rent out the cottage house (part of the detached garage – last rented for $1200/month), and the downstairs 1 bedroom unit (estimated rent is about $800/month), for an additional $2000+ month income. Then live in the other 3 stories in luxury and forget you even share the house with someone.
Watch this quick video for a complete tour to see for yourself.
Contact Christian Nossum with Wilson Realty Exchange with any questions or if you would like to see inside – 206-949-3048.
This is not Christian’s listing, but he does have permission to advertise it.
US News & World Report today announced that the House passed a bill extending the $8000 1st time homebuyer credit for an additional 12 months for service members.
Amid mounting speculation over the future of the $8,000 first-time home buyer tax credit, Congress moved today to give American service members another 12 months to claim the popular incentive.
This is expected to easily pass the Senate soon. This is great news for our service members. As for the rest of the first time homebuyers, we just have to wait and see if the first time homebuyer credit will be extended.
Walk Score for the Light Rail station on N. Beacon Hill
Contact Me Anytime!
Christian Nossum Licensed Real Estate Agent in WA State Wilson Realty Exchange
Cell or Text (yes, I do text!): 206-949-3048 Email: Christian [at] DealsInSeattle.com
Questions? Just ask! I'm here to help, so let me know!
