FHA loans can be a great option for first-time home buyers and people with bad credit to make their home purchase.  Over the last several years, during the housing boom, Federal House Administrationloans fell out of favor because of the abundance in private mortgage programs.  According to the agency, FHA loans have made a comeback.

“FHA-insured loans traditionally have been a resource for first-time buyers and those with blemished credit because they require only a 3 percent down payment, have lower credit standards than conventional loans and allow borrowers to use gift money for down payments and closing costs.”  FHA loans are making a comeback -Aubrey Cohen, Seattle P.I.

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

77 Seattle neighborhoods were recently measured for their “Walk Score” to determine Seattle’s most walkable places to live.  A “Walk Score” shows you a map of what’s nearby and calculates a ranking for any property, house or condo.  Check out how walkable your new neighbhorhood ranks before making your next real estate purchase.  Seattle’s most walkable places to live  

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

It took a couple tries, but the $150 million construction bond to support Renton School District has now been officially approved by voters.

King County Elections certified the May 20 election results last week.

“Å“I couldn’t be more excited,” said Dr. Mary Alice Heuschel, Renton School District superintendent. “Å“It’s just a reflection of the support the Renton community gives to public education. It’s fabulous. It’s the reason I love my job.”

The measure was approved by 61.67 percent of voters. A 60-percent supermajority was required. Just over 16,000 people cast ballots, or about 31 percent of registered voters. About 3,200 more voters cast a ballot in May than during the March 11 election, when the district was short by just 78 “Å“yes” votes. Seventy-one percent more voters voted “Å“yes” in May than March.

“Å“It is really good to see these numbers of voters increase the way they did,” said Randy Matheson, district spokesperson.

Especially when other school districts failed to pass similar bonds. Of 15 Washington school districts, Renton was one one of the few successes.  Continued…   $150M construction bond to go to work for Renton schools in ’09 – Emily Garland, Renton Reporter

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

With more than 80% of home buyers beginning their real estate search on the internet, the days of driving all over town to view a dozen homes are no longer necessary.  The use of video tours, professional photography and google maps helps many home buyers presort through all the possibilities.  Still, finding the perfect home can ad some miles to your odometer.  Here are some helpful tips to make sure you are maximizing on each gallon of gas during the search for your new home.  10 Smart Moves to Save on Gas 

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

Why Gen Y-ers are savvy buyers 

Generation Y is growing up fast.

The average age of a first-time homebuyer is 26, three years younger than for Gen X or baby-boomer buyers. So what’s up with that?

Sure, favorable rates and terms make buying a house easier for young people these days, but the trend may be most affected by the characteristics of this generation:

“¢ They are tech-savvy. Generation Y can’t remember life without a computer. This means they are consumers who research everything, including buying houses.

“¢ They are confident. Parents told them they were special, challenging their children’s teachers on poor grades and negotiating with their coaches for more playing time.

“¢ Stores like Baby Gap, channels like Nickelodeon and numerous magazines and catalogs have catered to them their whole lives. So Gen Y-ers don’t doubt themselves or their decisions, including buying a house.

“¢ They don’t believe in paying their dues at work. They want respect at the office now, and if they don’t get it, they’ll move on. Similarly, they don’t wait to buy homes.

To find out more about their housing preferences, we spoke to three Gen Y-ers who live in the Kansas City, Mo., area. Each is a housing expert. None has yet turned 30.  Continued… Why Gen Y-ers are savvy buyers -Stacy Downs, McClatchy Newspapers -Seattle Times

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

I continuously monitor local real estate statistics to keep my clients informed and ahead of the real estate trends. Below you will find Renton real estate statistics for the month of May.

MLS Area 340 (SE Renton / Benson Hill & Fairwood Real Estate; Renton 98058 & 98055)

Single Family Residential Real Estate
Total New Listings on the Market: 95 (161 in May, 2007)
Total Active Listings on Market: 405 (298 in May, 2007)
Average Listing Price: $462,323 ($487,039 in May, 2007)
Total Pending Sales: 44 (88 in May, 2007
Total Closed Sales: 53 (73 in May, 2007)
Average Sale Price: $372,663 ($415,073 in May, 2007)
Average Days On Market: 102 (58 in May, 2007)

Condominium Real Estate
Total New Listings on the Market: 36 (55 in May, 2007)
Total Active Listings on Market: 109 (64 in May, 2007)
Average Listing Price: $229,586 ($245,978 in May, 2007)
Total Pending Sales: 14 (29 in May, 2007)
Total Closed Sales: 13 (19 in May, 2007)
Average Sale Price: $231,165 ($260,236 in May, 2007)
Average Days On Market: 94 (20 in May, 2007)

MLS Area 350 (NE Renton / Renton Highlands, Briarwood & Kennydale Real Estate; Renton 98056 & 98059)

Single Family Residential Real Estate
Total New Listings on the Market: 128 (158 in May, 2007)
Total Active Listings on Market: 449 (368 in May, 2007)
Average Listing Price: $601,583 ($527,616 in May, 2007)
Total Pending Sales: 69 (114 in May, 2007)
Total Closed Sales: 69 (108 in May, 2007)
Average Sale Price: $431,277 ($503,491 in May, 2007)
Average Days On Market: 91 (98 in May, 2007)

Condominium Real Estate
Total New Listings on the Market: 28 (27 in May, 2007)
Total Active Listings on Market: 89 (31 in May, 2007)
Average Listing Price: $249,646 ($270,738 in May, 2007)
Total Pending Sales: 12 (27 in May, 2007)
Total Closed Sales: 13 (26 in May, 2007)
Average Sale Price: $238,215 ($262,080 in May, 2007)
Average Days On Market: 84 (53 in May, 2007)

MLS Area 360 (West Renton / Downtown Renton & Skyway Real Estate; Renton 98057)

Single Family Residential Real Estate
Total New Listings on the Market: 77 (84 in May, 2007)
Total Active Listings on Market: 204 (165 in May, 2007)
Average Listing Price: $449,671 ($443,321 in May, 2007)
Total Pending Sales: 28 (42 in May, 2007)
Total Closed Sales: 22 (26 in May, 2007)
Average Sale Price: $342,385 ($371,210 in May, 2007)
Average Days On Market: 63 (58 in May, 2007)

Condominium Real Estate
Total New Listings on the Market: 9 (8 in May, 2007)
Total Active Listings on Market: 31 (20 in May, 2007)
Average Listing Price: $234,214 ($260,127 in May, 2007)
Total Pending Sales: 1 (7 in May, 2007)
Total Closed Sales: 1 (4 in May, 2007)
Average Sale Price: $250,000 ($298,486 in May, 2007)
Average Days On Market: 92 (77 in May, 2007)

To find out the value of your home with a Free Market Analysis, call me directly at 206.799.3414 or go to House Values and fill out your information for a Comparative Market Analysis.

If you would like a free list of homes For Sale in Renton, would like to be the first to know about hot new real estate for sale in Renton, WA before other buyers do or would just like more information about the area of Renton WA, call me directly at 206.799.3414 or go to Property Watch and fill our your information for New Listing Email Notification.

Mike Rozell ~ Renton Realtor | Real Estate Agent
First-Class Service | First-Class Results
www.MyRentonLifestyle.com

This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics from MLS Areas 340, 350 and 360 using the Northwest Multiple Listing Service for Renton, WA Real Estate Agents.

Buyer Psychology Keeps Home Gains Back

Toll Brothers CEO Robert Toll told analysts that the foundation for a healthy housing market is in place: low interest rates, a low unemployment rate, a rising population, and increasing wealth. With home prices at 2002 and 2003 levels, the stage is set.

“Å“When the market recovers, home prices will march right back up,” Toll predicted.  Continued… Buyer Psychology Keeps Home Gains Back -Realtor.org

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com