FHA Loan Limits for 2016

Eric Paffenroth at Keller Global is pleased to announce that loan limits for FHA loans in Washington State will increase in some counties in WA State. Pierce, King and Snohomish will see an increase!

County Single Family Duplex Tri-plex Four-plex

ADAMS $271,050 $347,000 $419,425 $521,250

ASOTIN $271,050 $347,000 $419,425 $521,250

BENTON $271,050 $347,000 $419,425 $521,250

CHELAN $342,700 $438,700 $530,300 $659,050

CLALLAM $384,100 $491,700 $594,350 $738,650

CLARK $368,000 $471,100 $569,450 $707,700

COLUMBIA $271,050 $347,000 $419,425 $521,250

COWLITZ $271,050 $347,000 $419,425 $521,250

DOUGLAS $342,700 $438,700 $530,300 $659,050

FERRY $271,050 $347,000 $419,425 $521,250

FRANKLIN $271,050 $347,000 $419,425 $521,250

GARFIELD $271,050 $347,000 $419,425 $521,250

GRANT $271,050 $347,000 $419,425 $521,250

GRAYS HARBOR
$271,050 $347,000 $419,425 $521,250

ISLAND $322,000 $412,200 $498,950 $619,250

JEFFERSON $322,000 $412,200 $498,950 $619,250

KING $540,500 $691,950 $836,400 $1,039,450

KITSAP $307,050 $393,050 $475,150 $595,500

KITTITAS $271,050 $347,000 $419,425 $521,250

KLICKITAT $271,050 $347,000 $419,425 $521,250

LEWIS $271,050 $347,000 $419,425 $521,250

LINCOLN $271,050 $347,000 $419,425 $521,250

MASON $271,050 $347,000 $419,425 $521,250

OKANOGAN $271,050 $347,000 $419,425 $521,250

PACIFIC $271,050 $347,000 $419,425 $521,250

PEND OREILLE
$271,050 $347,000 $419,425 $521,250

PIERCE $540,500 $691,950 $836,400 $1,039,450

SAN JUAN $483,000 $618,300 $747,400 $928,850

SKAGIT $315,500 $403,350 $487,600 $605,950

SKAMANIA $380,000 $471,100 $569,450 $707,700

SNOHOMISH $540,500 $691,950 $836,400 $1,039,450

SPOKANE $271,050 $347,000 $419,425 $521,250

STEVENS $271,050 $347,000 $419,425 $521,250

THURSTON $293,250 $375,400 $453,750 $563,950

WAHKIAKUM $271,050 $347,000 $419,425 $521,250

WALLA WALLA
$271,050 $347,000 $419,425 $521,250

WHATCOM $304,750 $390,100 $474,550 $586,050

WHITMAN $271,050 $347,000 $419,425 $521,250

YAKIMA $271,050 $347,000 $419,425 $521,250

Gig Harbor Real Estate Report, Nov 2015

Fox Island Real Estate Report

The median sales price for Fox Island dropped 16% to $427,000 and 109 days on the market. Days on market increased 58%. 7 homes sold on Fox Island in October which fell 86%. It’s a buyer’s market on the Island this fall!

Where do real estate buyers shop?

FHA Mortgage Limits in Washington State

King, Pierce, and Snohomish County have the highest loan limits in Washington State at $517,500 with San Juan County at $483,000.

Chelan County, $342,700
Clallam County, $384,100
Clark County, $362,250
Douglas County, $342,700
Island County, $322,000
Jefferson County, $322,000
Kitsap, $307,050
Skagit, $315,100
Skamania, $362,250
Thurston, $293,250
Whatcom, $304,750
All other counties in Washington State not listed above
$271,050

Contact Eric Paffenroth at Keller Global for more information! Your real estate expert in Gig Harbor, Tacoma, and Bonney Lake.

Record sales price for Gig Harbor Homes

Gig Harbor for the month of June has record median sale price of $476,000 up 13.25%. New listings have dropped 10.53% which indicates that new construction is needed to keep up with demand. For a detailed report in your area contact Eric Paffenroth at Keller Global, your real estate expert!

Gig Harbor Real Estate Report powered by Keller Global

Do I need “Prefect Credit” to Buy a Home?

Many first-time home buyers believe that they have to have perfect credit score and 15-20 percent for a down payment. If you look at the attached chart you will see that credit scores have dropped over the years and down payment has decreased.

With interest rates being under 4%, this is the best opportunity for home ownership.

Powered by Keller Global, author Eric Paffenroth

Working with a mortgage broker in 2015

When buying a house for 2015, it’s critical you align yourself with a mortgage broker that has underwriting in house. Many brokers rely outsourcing the underwriting which causes all kinds of problems when trying to close on time or to fall apart entirely.Sit down with your mortgage advisor and understand your credit score, affordability, down payment requirement. Ask for a pre-approval letter before you start shopping for a new home.

Gig Harbor Real Estate Report (April 2015)

64 homes are for sale in Gig Harbor with an average sales price of $410,000 up over 1.2%. Get your free market analysis at www.piercecountywater.com

Does Zillow and Trulia Provide Accurate Information?

Many people ask me if Zillow and Trulia are accurate and in many cases they are not. They do not take information from MLS and are not members and much of the information is gathered from 3rd party websites. Websites like mine and Redfn are members of MLS and all the information follows strict compliance and is the bible in the Real Estate World.