What is Tenancy in Common in Seattle? It is similar to joint tenancy but the interest in the property is not required to be equal and can be assigned at different times. One other key element is that there is no right of survivorship. Each party owns an interest and upon their death vests in their heirs. Questions about Tenancy in common clickhere.

What is going on with home affordability? The latest association of home builder housing opportunity index for the second quarter of 2012 is down. How they calculate the index is that they take the median price of 225 metropolitan area and compare it to the median income.

They use a 10% down payment and a 30 year fixed rate mortgage and look for the housing expense ratio to be 28% or less.

The median income used is $65,000.00 and that translated to 73% of homes were affordable. That is a reasonable number but it is lower than the previous two quarters. This may be an indicator for a house price rebound.

Looking for a good deal? try Youngstown, Ohio. It ranked as the most affordable major metropolitan area. Sorry, Seattle is not in the top 5 affordable markets.

If you are a home buyer today, better take advantage of the low prices and low interest rates, things are a changing.

Want to know what traffic is doing in Seattle clickhere.

Joe LaVallie

The Integrity Team

Mortgage Banker

HomeStreet Bank

22001 66th Ave W

Mountlake Terrace WA 98043

NMLS ID#111363

joe.lavallie@homestreet.com

425-678-7604 Direct

1-800-761-7788 ext 7604

206-743-4722 Cell

Fax 206-512-1911

To Apply Onlinehttp://www.homestreet.com/jlavallie