Tagged: Street Cents

Bored with regular, run of the mill houses? Looking for something unusual? How about buying a fire station or a church for a home? 

Seattle-area real estate appraiser Richard Hagar says although places like this could be fun to live in, banks are usually skittish about loaning money for anything out of the ordinary.

KPLU's  John Maynard posed this question to Seattle-area real estate appraiser, Richard Hager: "If I sold a $2 million dollar house and paid the real estate agent his standard commission, then he'd get $180,000 out of the deal. Is that a negotiable situation?" Hagar's answer?

Is it true that there there's a bank vault out there full of cold, hard cash that's now available to people trying to refinance? That's what KPLU's John Maynard asked Seattle-area real estate appraiser Richard Hagar when he dropped by KPLU's studios recently. Without skipping a beat, Hagar responded:

"The good news is if you've missed some mortgage payments or you were in foreclosure, banks now have more cash available. And they've loosened up the purse strings a bit."

When most of us talk about condos, we’re usually referring to buildings with apartment units that are individually owned.  But as real estate appraiser Richard Hagar tells KPLU’s John Maynard, a condominium is technically a type of ownership.

So you can also "condominiumize" other types of property. Hagar says it's a hot trend for investors. 

Condo parking spaces

KPLU's John Maynard bought a condo in 2007 – at the height of the market. He took out an adjustable-rate mortgage that's "adjusting" in June.

That's turned out to be good news for Maynard, who's mortgage payment will go down considerably since interest rates are low right now and expected to be so for quite some time.

Some banks will pay you if you keep your foreclosed house in good condition. That includes things like  mowing your lawn and keeping your toilets and countertops spick and span.

Seattle-area Real Estate Appraiser and educator Richard Hagar tells KPLU's John Maynard that some lenders offer in the neighborhood of $2,000.00 to ex-homeowners  for keeping foreclosed property looking neat and tidy. 

Great deals on new homes can be found on the plains and near the planes.

That's the word from Seattle-area real estate appraiser Richard Hagar. New developments on the  flatlands of  Quincy, Wash., and the "loud lands" near Sea-Tac Airport are being built and sold at a pretty fast clip. Hagar tells KPLU's John Maynard there are some interesting reasons for that.

Back in the early 1960's, a string of motels along Seattle's Aurora Avenue North sprang up to accommodate tourists pouring into town to visit the Seattle World's Fair. Real Estate Appraiser Richard Hagar tells KPLU's John Maynard that a lot of this property is being redeveloped.