According to a Zillow survey conducted earlier this year, only 51% of respondents felt that they’re subject to unfair property taxes. The other 49% might not be paying close enough attention to their tax bills. In King County, property tax assessments are supposed to reflect fair market value. Over the past few weeks, both 2616 Harvard Ave E and 544 N 67th Street were sold for exactly $800K, which would seem to indicate that they have equivalent fair market value? But their assessments are $1.038M and $504K, respectively. The Assessor’s office says it is your responsibility to bring inaccurate assessments to their attention.
In Fannie Mae’s Q4 2017 Mortgage Lender Sentiment Survey, 46% of 196 participating mortgage executives thought it’s easy to get a home loan, up from 13% in Q4, 2014. Does this indicate lending standards have become less stringent? Or have less qualified borrowers been priced out of the past few year’s competitive housing market?
CoreLogic picked out 16 high risk housing markets and Seattle was not one of them. The selection was made by comparing house price appreciation against growth in income and rental rates (“if home prices deviate too far, then it’s due for a correction sooner or later”). CoreLogic also looks for prevalence of house flipping and mortgage fraud.