Okay, let me begin by saying that yes, the property is currently on the market for $12.95 million and I understand that not everyone can afford that but this is precisely why we created mortgages so you only need 20% as a down payment. (“It’s one banana, Michael. How much can it cost, ten dollars?” – Lucille Bluth) Wall Street: delivering unsurpassed value-add to Main Street since the early days of indentured servitude and right up through the lax underwriting standards of the mid 2000s.
Quick digression: did anyone see back in August that Danish firm Jyske Bank started offering negative 50 bps rates on 10 years and a flat interest rate on 20 years? Negative interest rates on mortgages, people. Here’s an article on it from The Guardian. There’s no way this will negatively affect the financial standing of Jyske Bank, thereby leaving a hole on their balance sheet. After all, they’re danish.
Back to the house. Today’s house of the day is a lovely little cabin in Anacortes, WA, halfway between Seattle and Vancouver. Built in 1993 and situated on a very modest 145 acres, the home includes 8 bedrooms, 11 washrooms, 21,800 square feet, and more wood than an Indiana mayor would know what to do with. Photos below:
May the Fortieth (president) be with you.