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2012 January · WAHomeowners.com

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Are Homeowners Glad They Own?

Are Homeowners Glad They Own?

It might come as a surprise but a whopping 72 percent of surveyed homeowners nationwide are satisfied with owning a home. The other 28 percent, not so. They say they’re dissatisfied and that’s likely due to the devaluation of their homes.

But surprisingly, of those who were satisfied with owning a home, only 24 percent said it was because of home appreciation. The majority, 76 percent, had many other reasons they were happy to own their own home including the one that proves the American Dream is alive and well: pride of homeownership. Following closely behind were the freedom to control their home improvements and upgrades. All this according to HomeGain’s 2012 National Home Ownership Satisfaction Survey.

Read More on Realty Times…

Seattle home prices hit post-boom low in November

Seattle home prices hit post-boom low in November

Seattle-area home prices hit a new post-boom low in November, according to one closely watched index, and are now 31 percent below their peak.

The S&P/Case-Shiller Home Price Index for the Seattle metropolitan area, which includes King, Snohomish and Pierce counties, fell to 132.65 in November, the most recent month for which information is available.

The index peaked at 192.30 in July 2007 and hit its previous low, 132.85, in February 2011 before a small rally last spring and early summer. But it has been falling again since August.

The last time prices were lower? June 2004.

Read More on The Seattle Times…

States where citizens carry the most mortgage debt – WA # 5 (& that’s not a bad thing!)

States where citizens carry the most mortgage debt  – Washingtion comes in at # 5 (& that’s not a bad thing!)

“How much residents of each state owe on their mortgages is an interesting statistic. For the most part, residents of the states with the highest average mortgage debt are not in trouble. While the average home price in these states dropped in value during the recession, the foreclosure rates in these states are among the lowest in the country. The reason: residents of these states can generally afford to lose and owe more money than their counterparts in other states…

…Washington’s median home value in 2010 was the ninth-highest in the country. Home values actually increased 1.6 percent during the recession. As a result, foreclosures in the state are low…”

Read Full Story on MSNBC.com…

 

New-home purchases fall, 2011 worst ever for sales

New-home purchases fall, 2011 worst ever for sales

Fewer people bought new homes in December. The decline made 2011 the worst year for new -homes sales on records dating back nearly half a century.

The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

About 302,000 new homes were sold last year. That’s less than the 323,000 sold in 2010, making last year’s sales the worst on records dating back to 1963. And it coincides with a report last week that said 2011 was the weakest year for single-family home construction on record.

Read More on The Seattle Times…

Proposed bill would protect residents selling their home

Proposed bill would protect residents selling their home

If you’re under water in your mortgage and thinking about selling your home for a loss, a new bill from 46th District Sen. David Frockt aims to give you some extra protection.

The bill would require banks to choose between two options, either selling off the debt they didn’t recover from the home sale or taking it as a tax write-off, rather than the common practice of doing both.

“What we do in this bill is essentially provide the same type of protection to homeowners who are not yet in foreclosure but are at risk for foreclosure,” Frockt said.

Read More on KomoNews.com…

Are you a struggling homeowner? Check out our Avoiding Foreclosure section for resources and tips.