Queen Anne real estate market has always been a hot one due to the highly desirable location and charming properties but it has never been hotter!  The combination of the attractive values and historically low mortgage rates is bringing a lot of buyers that were sidelined during the boom and really propelling the Queen Anne real estate market.  Why now?  Queen Anne has always been a highly sought – after neighborhood to the fact that it’s a well – established “suburban” close to Downtown and home to some of most beautifully preserved homes full of charm, character, and history that you won’t find in other neighborhoods.  Queen Anne is also home to some of the most prestigious streets and zip codes in Seattle.  My clients are I are noticing that pretty much any properties that are priced well are receiving multiple offers thus reinforcing the popularity of the Queen Anne real estate market.  My favorite part of Queen Anne is of course soaking in the beautiful Seattle skyline and the Puget Sound at the Kerry Park.

Queen Anne Real Estate Market

What is the “prime” Queen Anne real estate parameter?

-         10^th Ave W/Olympic Way W/W Olympic Pl to the west.

-        Taylor Ave N/5^th Ave N to the east.

-        Valley St. to the south.

-        W McGraw St. to the north.

I did a general search for that parameter and here are some interesting statistics:

-        Total of only 22 active listing of single family homes.

-        Of the 22 active listings, only 8 were priced at or under 800k (competitive price range).

-        Total of only 19 active condo listings priced at or under 500k.

There has never been a more opportunistic time to get into Queen Anne real estate market and own a piece of history and be part of the most prestigious community in Seattle.  Don’t get sidelined again and contact me for a complimentary consultant and get in the game TODAY!

Queen Anne Real Estate Market

ABOUT CHRISTY KIM

Seattle Condo

Fannie Mae HomePath Financing

The Fannie Mae HomePath program is an attraction solution for financing condos and townhouses.  Many people are familiar with HomePath’s attractive features for all types of properties: down payments as low as 3% of the purchase price, seller contributions up to 3.5% of the purchase price, no mortgage insurance required.  However, there is an added benefit for condos in that Fannie Mae waives the appraisal and guarantees financing without regard to the status of the condominium homeowner’s association (HOA).  Condos are increasingly difficult to finance as new rules from the FHA have cut off financing eligibility for the great majority of condominium associations.  As reported in the Washington Post (“FHA rules for condo purchases are causing major headaches for buyers and sellers“), less than 10% of condo HOAs whose FHA eligibility had expired have been recertified.

Accordingly, buyers of condominiums who aren’t paying all cash should either inquire about the FHA eligibility of a condo complex before making an offer or positively seek out only Fannie Mae owned condos to take advantage of these attractive financing features.

A client of mine recently got a HomePath loan approved at 4.5% interest for 30 years.  Fannie Mae contributed 3.5% towards his closing costs.  I believe he put down 7% in order to bring the loan amount down a bit to a level he could qualify at.

Seattle townhouse

Click here for a list of Fannie Mae owned condos.

Seattle has plenty of Thai restaurants but my personal favorite is Thaiku Thai Restaurant in Ballard.  In the heart of Ballard on Ballard Ave, you will find this cozy restaurant serving authentic and delicious Thai cuisine.  I may be little bias since Thaiku Thai is located in my neighborhood of Ballard and only a block off my home but their food is undeniably delicious and worthy of recommendation.

Their ambiance is very charming while wooden fixtures and red décor warmly welcomes the guests.  Fast service and abundant seating is great for both small or larger parties.  They serve both traditional favorites such as phad thai and many curry dishes and few other innovative dishes.

Thai Iced Tea – brewed black tea with condensed milk.  Perfect companion to spicy Thai dishes!

Chicken phad thai with wok fried noodles, tofu, bean sprouts, green onion, carrots, and cabbage.  Flavorful!  I get mine 4 stars!

Thaiku Thai in Ballard is open Monday to Sunday and hours vary daily.  I can’t wait to try everything on their menu!

Thaiku Thai in Ballard

ABOUT CHRISTY KIM

What is a Short Sale?

Do you know what a short sale is?  You hear about it all the time in the news.  Your friend just scored a super deal on a short sale.  A stranger once suggested to you to never ever make an offer on a short sale.  I get asked about short sales a lot and as much as I despise providing generalized answers to some of the most pressing real estate questions, my answer often is “I can’t tell you concretely until we get into one.”  No, it is not a trick statement or sales strategy of a real estate broker; plain and simple, every short sale is different.  And even within the contract, there are obstacles, complications, disappointments, and pleasant surprises that come up in a short sale transaction.

According to Wikipedia, “A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens’ full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.”  A homeowner for some reason is struggling and unable to continue their obligations will seek to do a short sale on their property.  This is a proactive option by the homeowner in which they are actively working with their lender to accomplish the sale of their home and is an alternative option to a foreclosure.

More on Short Sale

ABOUT CHRISTY KIM

Going through some of the listings in Seattle and it is hard to believe the prices that I’m seeing!  There are so many good deals in Seattle and hopefully I can match them up with both my clients and potential clients!  If you are not taking advantage of this great market and low mortgage rates, you are really missing out!

Check out some of the good deals in Seattle that I came across!

Seattle Real Estate

Here is part 2 of my Seattle Festivals and Events in August!  With the recent continuation of the perfect sunny weather in Seattle there is no better time to get out and enjoy all the fun activities!  Follow me on my journey to introduce and navigate through all the festivals that are happening in Seattle and all around the Sound this summer!

All of these festivals and events listed are happening from August 18^th to 31^st

Complete list of the festivals and events!

Seattle Real Estate

First Time Home Buyers in Seattle

First time home buyers in Seattle are jumping in the real estate market with confidence.  There are lots of great thing happening inSeattlereal estate market!  Seattle was recently picked by CNN for best expected price appreciation, one of the top real estate investment markets, and not to mention one of the top 10 best cities for families!  With the mortgage interest rates at its historic low, you couldn’t ask for a better market entry for first time home buyers in Seattle and beyond!

With no prior experience with real estate, most of the first time home buyers seek my assistance with excitement, apprehension and big set of questions.  They vary from time to time but almost all of them have similar questions and concerns about not knowing how to get started, the loan process, and etc.

How do I get started?

• The first step on your road to homeownership is to find a reputable real estate agent.  Get a referral/recommendation from your friends, family or colleagues. 
• Interview at least couple of them.  This is the person that you will be working with for perhaps the biggest investment of your life; you want to make sure the agent is credible, but also someone that you actually enjoy working with and feel comfortable.

What am I looking for?

• A good agent will ask about your goals, lifestyle, wants and needs, etc.   They will ask you what your immediate and short term goals are, children or pets, and don’t forget to mention anything and everything that maybe of relevance to your home search.
• The reason why all of these things are important is because it will help narrow down to determine the types of homes and locations you want to live.  Real estate prices differ from city to city, even within a city, so the clearer you can get, the better the chances of finding the right home. 

How do I finance my home?

• Qualifying for a loan is as important as finding the right home because most of us can’t purchase a home without getting financing for it.
• Again, ask around for a good referral to a responsible lender from your family and friends.  Ask your agent for couple of good recommendations as well.  They are the ones that are out there working with lenders every day, so they have the best idea of who are the most reliable and responsible lenders are.
• When you meet with a lender, you are doing much more than just qualifying for a “number.”  You want to discuss about your current work and family situation and lifestyle. 
• It is important that you meet with a lender prior to starting your search.  Why?  Because most people either underestimate or overestimate what they can afford.  It is like going out on the road with no gas.  Unless you know exactly what you qualify for, you are wasting time searching in wrong price ranges or locations.  Most of the people are always surprised with the qualifying numbers. 
• A responsible lender will go over few options to explore with you.  All of the loan programs have different requirements, including down payment amount, so it is a helpful process in eliminating confusion and to make an informed decision.  Ultimately, they will help you figure out how to go from A (now) to B (to becoming a homeowner). 
• Also, in this competitive buyer’s market, you will not be able to submit an offer without a pre-approval letter on hand. 

The information that I have provided is just to help you get started on the process.  Looking for your first home doesn’t have to be stressful.  With the right people, some goal-setting, and setting the right expectation, the process can be both fun and educational!  Call me for a complimentary consultation!

Seattle Real Estate

About Christy Kim

Are you guys taking full advantage of this gorgeous sunny weather in Seattle yet?  Seattle festivals and events in August are continuing the tradition of jam packed summer fun!  All of this really makes it up for the long winter here.  From local favorites to tourist’s annual favorites that bring them out to Seattle every summer, there is something for everyone to do this weekend! 

All of these festivals and events listed are happening in the first two weeks of August from 5^th to the 14^th.  The big fan favorite, the BLUE ANGELS are performing their air shows again this year!  Few of the individual Counties are hosting their own fair as well.  Lot of exciting and fun things going on!  Follow me on my journey to introduce and navigate through all the festivals that are happening in Seattle and all around the Sound this summer.  Enjoy the sun and your neighbors, but do not stay home!

ALL SEATTLE FESTIVALS AND EVENTS IN AUGUST

Seattle Real Estate

ABOUT CHRISTY KIM

 Aloha Ramen in Seattle

I found the best ramen place in Seattle, Aloha Ramen!  I been on a quest for a good bowl of ramen for years in Seattle and finally discovered Aloha Ramen in Seattle by a recommendation from a friend.  I packed my appetite and anticipation and went to check it out with couple of my friends.

We got there just in time for their door to open for dinner, which is 5pm to 9pm.  My first impression was that Aloha Ramen is unpretentious and that it is extremely TINY restaurant.  There were several small tables, mainly for party of two and a bar seating for about four people, but I’m not joking when I say it is tiny.  We were greeted and seated right away by the owners and a waiter who were all very welcoming. Although we were the first people in, both walk-ins and phone orders quickly came in.

Full Story on Aloha Ramen in Seattle

Aloha Ramen in Seattle

8102-B Greenwood Ave N
(between 81st St & 82nd St)
Seattle, WA 98103

Hours:  Wed-Sun 12 pm – 2:30 pm, Wed-Sun 5 pm – 9 pm

Seattle Real Estate

ABOUT CHRISTY KIM

With the weather heating up, are you looking for something different to take it outside?  Have you checked out outdoor movies in Seattle?  Outdoor movies in Seattle provide a great alternative to stuffy indoor movie theaters!  This used to be a popular past time, but it is becoming more common recently and people are finding its joy again.  The movies are not current, but they are old favorites and classics, so you aren’t stuck with leftover movies.  And because most of them are either FREE or donation based, it an economical way to have a night out with family and friends.  Why don’t you pack a blanket, snacks, and gather your family and friends for a fun night “out?”  Lights, camera, action!

Here is the list of outdoors movies in Seattle and Greater King County!

 ABOUT CHRISTY KIM