There have always been occassional funds put together for special interest groups and sometimes for certain geographically areas to help 1st time home buyers but in most cases, they don't translate into anything other than a 2nd mortgage loan that is none to easy to qualify for.
However, for a short time, the City of Federal Way has a fund for 1st time homebuyers that are purchasing a pre-foreclosure, a short sale or a foreclosed (bank owned) home. They may grant up to 20% for a down payment, up to $30,000. There are no monthly payments and no interest! If you sell your home in less than 15 years, you will pay back the city at the time of the sale but if you own for 15+ years, there is no payback required!
This is by far one of the most generous and easy to qualify for down payment assistance plan I have ever seen! If you know someone that could benefit from this, pass it along!
Friday, May 28, 2010
Wednesday, May 12, 2010
Seattle has Nation's Best Economy
Here's an encouraging article from today's Puget Sound Business Journal (Seattle)
A study by a Florida research firm says that the Seattle area’s economy is the best in the country.
According to Policom Corp., an independent economic research firm that specializes in analyzing local and state economies, out of the nation’s 366 metropolitan statistical areas, Seattle-Tacoma Bellevue rates No. 1, moving up from last year’s No. 12 ranking. In 2006, Seattle-Tacoma-Bellevue ranked No. 51 in the country. The company uses 23 different economic factors to create its rankings.
According to Policom, the highest-ranked areas have had rapid, consistent growth in both size and quality for an extended period of time. The lowest ranked areas have been in volatile decline for an extended period of time and Policom has created economic strength rankings since 1996.
Here are the nation’s top 10 markets of all 366 markets:
2010 Ten Strongest Among 366 Metropolitan Areas
1. Seattle-Tacoma-Bellevue.
2. Washington, D.C.-Arlington, Va.-Alexandria, W.V.
3. Denver-Aurora-Broomfield, Colo.
4. Houston-Sugar Land-Baytown, Texas.
5. Sacramento-Arden-Arcade-Roseville, Calif.
6. Salt Lake City, Utah.
7. Des Moines-West Des Moines, Iowa.
8. San Diego-Carlsbad-San Marcos, Calif.
9. Madison, Wisc.
10. Dallas-Fort Worth-Arlington, Texas.
A study by a Florida research firm says that the Seattle area’s economy is the best in the country.
According to Policom Corp., an independent economic research firm that specializes in analyzing local and state economies, out of the nation’s 366 metropolitan statistical areas, Seattle-Tacoma Bellevue rates No. 1, moving up from last year’s No. 12 ranking. In 2006, Seattle-Tacoma-Bellevue ranked No. 51 in the country. The company uses 23 different economic factors to create its rankings.
According to Policom, the highest-ranked areas have had rapid, consistent growth in both size and quality for an extended period of time. The lowest ranked areas have been in volatile decline for an extended period of time and Policom has created economic strength rankings since 1996.
Here are the nation’s top 10 markets of all 366 markets:
2010 Ten Strongest Among 366 Metropolitan Areas
1. Seattle-Tacoma-Bellevue.
2. Washington, D.C.-Arlington, Va.-Alexandria, W.V.
3. Denver-Aurora-Broomfield, Colo.
4. Houston-Sugar Land-Baytown, Texas.
5. Sacramento-Arden-Arcade-Roseville, Calif.
6. Salt Lake City, Utah.
7. Des Moines-West Des Moines, Iowa.
8. San Diego-Carlsbad-San Marcos, Calif.
9. Madison, Wisc.
10. Dallas-Fort Worth-Arlington, Texas.
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