Buying house in Redmond, WA
We are looking for 3+ bed house in Redmond with 7+ school rating. We are observing that houses are selling out around 20% above the listing price. My question is how much usually bank appraisal go up to above the listing price? Our budget is around 1M house with 10% down. We are concerned about the appraisal gap after down payment. TC: $350 (husband +wife) YOE: 4 #housing #mortgage #redmond
There are no houses in Redmond, kirkland and bothell in that range. Don't fall for list price, bidding is going in +200k over list. If you can wait... Wait till more construction comes up. Note:- new construction is rare in Redmond so you might have to skip this area forever unless u up the budget
Theres tons of houses in Bothell under 1M. Certainly not in Redmond nor Kirkland
Your loan with 10% down on 1M will be Non-conforming(Jumbo) and you will have trouble to get it approved if you are first time home buyer. Talk to any of lenders regarding your assumptions that you can do 10% down on 1M. Conforming loan limit is 776,250 for 2021 for King County.
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Text me 5756508628, i have houses to refer you.
This is good news for people like me. I am going to list my 4b/2.5b renovated sfh near Rosa parks soon. Bought for 450 in 2011. Time to cash in. Redmond is soo out of reach for first time buyers these days.
That's great. Yeah it's really difficult for first time buyers. In what price are you going to list your home?
At least 1.1. Expecting bidding on top of that.