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Don’t Pay Off Your Mortgage!
February 26, 2016 /At least, don’t pay it off quite yet. If you’re an average, hard-working adult with a family and a home to call your own, then chances are you’re probably trying to pay off your mortgage as quickly as possible. This strategy seems pretty sound at first; after all, won’t you save money in the long run by paying off your mortgage ASAP? Surprisingly, in many cases paying off your mortgage quickly won’t save you money at all; indeed, rushing through a mortgage could actually be costing you money in the long run. While you’ll want to pay your mortgage off eventually, it is generally more beneficial to take your time and invest your hard-earned money in other ventures. If this idea seems counterintuitive to you, never fear! Below, you’ll find a few of the main arguments for taking your mortgage payments nice and slow. Your mortgage's interest is tax-deductible. While many people regard paying interest with dread, remember that paying interest on a mortgage will actually reduce the amount of money you need to pay for taxes each year. For instance, say you’re in the 35% tax bracket. Since your interest payments on your mortgage are tax deductible, you’re actually saving…Read more
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Let Me Tell You About the Time I Didn’t Have a House- Part 2
February 19, 2016 /“I think I can see our house from here,” I said. “Where?” Ellie said. “There.” “That’s a medieval tower. Also: we don’t have a house.” “Oh,” I said, squinting. “Yes. I suppose you’re right.” Oliver, Ellie, and I were sitting up in the hills above Glendalough, looking down at the ruins of the medieval monastery in the valley below. Crowds of tourists wandered among the buildings, clustering together like ants, pausing every now and again to take selfies in front of the stone buildings. “I mean, I guess we could live in a medieval tower,” I said. “I don’t think there are any rules against it. Medieval towers were good enough for folks once upon a time, and it’s not like we have too many options at this point.” “There are definitely rules against it,” Ellie said. “Are you sure?” “Pretty sure.” Our decision to bus to Glendalough was a result of our mounting frustration with our housing search. We’d grown tired of our routine, tired of filling out applications and receiving no response, tired of sharing a hostel with strangers. In particular, I’d developed a supreme distaste for watching our eccentric, suit-wearing, Tesco-loving friend gurgle his way through breakfast…Read more
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Neighborhood Profile: Juanita
February 5, 2016 /How would you like to live in one of the top five neighborhoods in the country? Like most people, your answer is probably a resounding “Yes!” (give or take a few enthusiastic exclamation points). In 2014, Money Magazine named Kirkland the fifth best place to live, calling it a bustling “hotspot” full of good jobs, schools, and neighbors. Rest assured that nothing has changed since 2014. As such, Kirkland’s many neighborhoods are prime real estate, and you deserve to know all the wonderful facts about living in each and every one of them. That’s where the neighborhood of Juanita comes in. The neighborhood of Juanita is situated in northern Kirkland. Bordered by Lake Washington, I-405, Finn Hill, Bothell, and Forbes Creek, Juanita serves as a bedroom community for Seattle and other cities on the eastern shore of the Puget Sound, such as Bellevue and Redmond. Juanita is a small neighborhood with a population of about 13,000 people, most of whom enjoy a commute time of about 25 minutes each way. While most commuters drive their own vehicles on I-405, many others take advantage of the area’s ride-sharing culture by utilizing its many park-n-rides. Juanita’s prime location and amenities make it…Read more
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Profile of Katie Silver, Lead Buyer’s Agent
January 29, 2016 /When asked why Pickett Street is such a phenomenal company to work for, employees often don’t mention Pickett Street’s financial success and business savvy, though both qualities are well-documented characteristics of the company. Instead, most folks immediately talk about the team, the network of individuals that glues Pickett Street together. As such, it’s worth taking the time to get to know this team a little better. This week, we’ve chosen to highlight Katie Silver, Pickett Street’s Lead Buyer’s Agent and seasoned veteran of the real estate world. Beginnings Katie Silver has been thinking about real estate for a long time. Living on her own since the age of 17, Katie quickly developed a keen and discerning business sense. While she had been born and raised in Bellingham, and even though she worked in Bellingham at the time, Katie wanted to avoid paying the higher rent that came with living in a college town, and so she moved out to Ferndale to secure a cheap, $400 per month apartment. Despite the low cost of living, however, Katie quickly realized that paying rent each month was akin to throwing money away, as she was using her hard-earned funds to pay for something…Read more
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Real Estate Trends to Watch for in 2016
January 26, 2016 /Usually, I’m surprised to look at my calendar each January and find that suddenly, and apparently without my permission, time has continued to roll forward. However, this year I am determined to think more about the year ahead, rather than dwelling on what’s already behind me. As such, now is a perfect time to consider some key real estate trends, and especially some important mortgage trends, to look out for in 2016. Whether you’re preparing to buy your first home, or you’re on the cusp of selling a reliable and beloved property, you’ll want to check out the exciting forecasts below. Buying is Better than Renting First, let’s talk finances: if you’re a renter, then you’re in for some bad news, because rents are currently becoming more expensive and less affordable. In fact, according to The National Real Estate Post, rents are rising at about 4 percent per year. As such, it’s hardly surprising that more and more renters are having trouble finding rates that don’t exceed the recommended 30 percent of their monthly budget. Conversely, buying a home is more affordable. While mortgage rates may have risen slightly, expect them to remain relatively low. Many experts forecast four…Read more
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On Moving. A blog post from our very own blog writer :)
January 15, 2016 /I walked into my room the other day and was surprised to find some suitcases stacked in the corner. After a few moments’ reflection, I remembered that I’ll be moving in a week. It was a strange feeling, standing there and thinking about how easy it was to pack my life into three compact bags. I’m no stranger to moving. When I was four, my family traveled from New Jersey to Washington State by train. We spent the next few years moving around the Puget sound, shuttling our possessions to Burien, then Federal Way, and then Olalla, before finally settling in a house in the Crescent Valley neighborhood of Gig Harbor. Something about these trips must have given me the travel bug. In the last three years of my life, for instance, I’ve lived in Portland, Dublin, Portland again, and Austin. And now, a mere six months later, I find myself preparing to leave once again. Writing for Pickett Street has given me a different perspective on the concept of moving. Suddenly, after years of living out of a backpack (occasionally two backpacks, when I find myself acquiring more possessions than I ought to), I’m contemplating mortgages, property values, the…Read more
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Neighborhood Article: Fobes Hill
January 8, 2016 /Just north of Seattle, nestled between the Cascade Mountains and the Puget Sound, lies the secluded and quiet suburb of Fobes Hill. Located in Snohomish County, Fobes Hill is home to not only roughly 2,000 residents, but also the classic charm that characterizes so many quaint and respectable Washington towns. The borders of Fobes Hill include the Snohomish River, Bickford Avenue, and Highway 9. Considered an unincorporated area of the city, its location is perfect for people looking for generously-sized lots within close proximity to the shopping and charm of Snohomish, the antique capital of the Northwest. The Fobes Hill area is home to many hidden, independent cultivators and farms; beekeepers, blueberry fields, and pumpkin patches are all part of the landscape of this beautiful community. As such, it’s hardly surprising that it’s common to see your neighbor riding her horse down the road, or a herd of llamas waddling through rolling, patchwork fields. When you want to get out of the house, it’s easy to stretch your legs in the historic downtown of Snohomish, a town with good food, great wine, and an abundance of character. Boasting an assortment of 30 restaurants and bars, 40 specialty shops, and more…Read more
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Edmonds, WA: ever thought of moving to Edmonds?
December 4, 2015 /Edmonds is a beautiful city located just 15 miles north of Seattle and 18 miles south of Everett. A historic community, the Snohomish tribe used the land around Edmonds as a harvesting ground for mussels and clams long before the arrival of white settlers. The city of Edmonds was first officially recognized in 1890 under the leadership of the entrepreneurial George Brackett. Since then, Edmonds has become a cherished part of the greater Seattle community, and it’s easy to see why. The city enjoys enviable views of the Puget Sound and the dramatically mustered peak of the Olympic Mountains. Additionally, Edmonds has access to no less than four beaches and plenty of waterfront parks, providing plenty of robust and healthy saltwater breezes for lovers of a barnacle-clad maritime lifestyle. For example, the Edmonds Marine Sanctuary and Underwater Dive Park is the perfect place for aficionados of scuba diving to explore the Sound’s unique underwater ecosystem. While access to water is certainly beneficial for recreational purposes, Edmonds’ location on the Sound has practical purposes, too. For example, Edmonds is also home to the Edmonds-Kingston Ferry, which carries the highest number of vehicles and second highest number of passengers for all state…Read more
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Improve the Value of your home!
November 16, 2015 /Whether you’re trying to sell your home now, or simply want to prepare for the possibility of selling in the future, improving the value of your home is essential. Of course, most people know that already. What most people don’t know is how to improve the value of a home. While there are many ways to approach this dilemma, you’ll find a couple of the most important ideas below: Create Curb Appeal One of the best ways to improve the value of your home is to tidy up the front lawn, the garden, and any other features that can be seen from the sidewalk. Curb appeal is the first thing someone sees when entering your home, so take the time to invest in the landscaping. Trim your lawn or, if you’re rather not tackle it yourself, hire a contractor to spruce up the grass instead. In addition to planting colorful flowers, plant some native foliage in the garden. Native plants will promote a healthy environment and will also require less water and maintenance, saving you time and money. If you’re not trying to sell your home right away, invest in the future by planting a tree or two in your…Read more
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Neighborhood Profile: Green Lake
November 9, 2015 /Imagine finishing a long day at work in the bustling city and then driving home to a green, secluded space with a vibrant and energetic community. If you live in Green Lake, then you’re one of the lucky individuals who gets to make this dream a reality. Located north of the Seattle City Center, and boasting a seemingly unfair number of gorgeous parks and green spaces (not to mention the eponymous lake), Green Lake is undeniably one of Seattle’s most attractive neighborhoods. The region was originally settled by intrepid pioneers in the 1860s, and since that time the it's appeal has only increased. In fact, in the last two decades the steady construction of new residences has firmly established Green Lake as one of Seattle’s most popular destinations. Green Lake’s most obvious draw is, of course, its lake. The region around the lake has been transformed into a park with an overabundance of activities, including a 2.8 mile walking/running/biking/roller skating path following the shoreline. If you’re an aficionado of water sports, or perhaps just trying to impress someone on a first date, then you can also rent kayaks for use on the lake. All in all, Green Lake is home to…Read more
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LE vs. GFE and CD vs. HUD-1
October 30, 2015 /This month has seen a significant change to the way mortgages are finalized. The GFE, initial TIL, and HUD-1 and final TIL forms are gone for good and, as of October 3rd, the LE (Loan Estimate) and CD (Closing Disclosure), replaced them. If you’re an average consumer, you’re probably wondering two things: What do these new forms mean? How does this change affect me? Luckily, both questions are relatively easy to answer. Below, you’ll find the basic information about what the new laws mean and how they’ll affect anyone applying for a mortgage in the future. LE and CD: the Basics Historically, lenders have been legally required to provide consumers applying for mortgage loans with two documents, the TIL and GFE, and then two more documents, another TIL and the HUD-1, shortly before finalizing a mortgage loan agreement. All of these documents communicated repetitive information using irregular language, thus sacrificing an unnecessary amount of trees to provide you with much of the same information twice. This process, as you can imagine, was a complicated one for average Americans. To streamline the process, federal law has mandated that the GFE, initial TIL, and HUD-1 and final TIL forms be replaced by two basic forms, the LE and the CD. Anyone applying…Read more
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Short Sales
October 23, 2015 /Facing a foreclosure can be scary, and it’s easy to feel trapped and helpless if you’re in danger of losing your home. Even worse, you’ll feel like you’re losing your dignity as a self-sufficient adult. However, while things may seem hopeless, it’s important to recognize that there are alternatives to foreclosures. A short sale is one of the best of these alternatives. What is a Short Sale? A short sale refers to the process of selling your home for less than the balance of your mortgage. Short sales require the approval of your mortgage company, but, if you are approved, you’ll be able to sell your home and pay off either part or all of your mortgage, depending on the results of your particular situation. What are the Benefits of a Short Sale? It goes without saying that applying for a short sale is not an ideal situation. No one wants to face foreclosure, and no one wants to part with his or her home for less than is needed to pay off a mortgage. That said, there are many benefits to short sales, and they can help you escape and recover from stressful situations. The most obvious benefit of…Read more
