Richard Hagar

Real Estate Commentator

Richard Hagar's real estate career spans more than 30 years.  He currently serves as a real estate investor, real estate agent, appraiser, and an SRA with the Appraisal Institute.

His specialties are appraising, investing, and teaching. Each of these specialties has brought him knowledge about the other. Through investing he's been able to understand how fraudulent real estate transactions and loans happen. Appraising has taught him to be analytical in his investing and precise in reporting information. By teaching, he's been allowed to communicate with private corporations and government agencies helping them understand the anatomy of a fraudulent transaction and put some bad people out of business.  Today he is the owner of American Home Appraisals.

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Street Cents
12:26 pm
Tue September 4, 2012

Will that remodel add to your home's resale value?

Remodeling breakfast nook windows.
Loren Owensby flickr

Remodeling can turn boring into wow but will it add to the value of your home? If your goal is to sell your home at a higher price after you doll it up, it pays to first ask some serious questions about the house, the land  it sits on, and the neighborhood.

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Street Cents
5:00 am
Tue August 7, 2012

Population growth and housing in Seattle: Going up, up, up!

1111 E. Pike is a six-story building with 26 residential homes and two commercial spaces.

As more people move into the Seattle area, the demand for housing goes up. And so does the style of housing with high-rise apartments and condos replacing older, stand alone homes. Real estate appraiser and educator Richard Hagar tells KPLU's John Maynard this trend is expected to continue, thanks to our relatively stable economy and mild weather. Both are factors for people moving here, as are the companies that continue to employ thousands of people such as Amazon and Microsoft.

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Street Cents
5:00 am
Tue June 5, 2012

It's not an apartment or a condo. It's a co-op!

There are apartments and condos. Then there are co-ops.  This type of real estate ownership is pretty common in large East Coast cities such as New York, Philadelphia and Boston, but it's not as common here.

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Street Cents
4:30 am
Tue May 1, 2012

Bank loans tough to get for fire stations and churches

Fire Station #37 is a designated landmark.
Image courtesy Colliers International

Bored with regular, run of the mill houses? Looking for something unusual? How about buying a fire station or a church for a home? 

Seattle-area real estate appraiser Richard Hagar says although places like this could be fun to live in, banks are usually skittish about loaning money for anything out of the ordinary.

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Street Cents
5:00 am
Tue April 3, 2012

Cracking down on suspicious home buyers

Not all money used to buy a house is clean.
Images_of_Money

Since the 1970s, banks have been required to report any suspicious house purchases to the FBI. Now that mandatory reporting is netting mortgage brokers, too. Seattle area real estate appraiser Richard Hagar says that's a good thing since about 80 percent of home loans go through mortgage brokers. 

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Street Cents
4:00 am
Tue March 6, 2012

Real estate commissions aren't set in stone

Real estate commissions: It's something the seller usually pays.
The Associated Press

KPLU's  John Maynard posed this question to Seattle-area real estate appraiser, Richard Hager: "If I sold a $2 million dollar house and paid the real estate agent his standard commission, then he'd get $180,000 out of the deal. Is that a negotiable situation?" Hagar's answer?

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Street Cents
4:30 am
Tue February 7, 2012

Rough time refinancing? Try again.

Bank vault full of cold, hard cash.
Adolph B. Rice Studio Collection Library of Virginia

Is it true that there there's a bank vault out there full of cold, hard cash that's now available to people trying to refinance? That's what KPLU's John Maynard asked Seattle-area real estate appraiser Richard Hagar when he dropped by KPLU's studios recently. Without skipping a beat, Hagar responded:

"The good news is if you've missed some mortgage payments or you were in foreclosure, banks now have more cash available. And they've loosened up the purse strings a bit."

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Street Cents
4:30 am
Tue January 3, 2012

Not all condos are buildings in the investment world

When you invest in a parking space ... it can be kinda like investing in a condo.
Steve Rhodes Flikr

When most of us talk about condos, we’re usually referring to buildings with apartment units that are individually owned.  But as real estate appraiser Richard Hagar tells KPLU’s John Maynard, a condominium is technically a type of ownership.

So you can also "condominiumize" other types of property. Hagar says it's a hot trend for investors. 

Condo parking spaces

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Street Cents
4:28 am
Tue December 6, 2011

For some, the gamble of an adjustable-rate mortgage pays off

Low interest rates making headlines. That's good news for adjusting or locking in a mortgage.

KPLU's John Maynard bought a condo in 2007 – at the height of the market. He took out an adjustable-rate mortgage that's "adjusting" in June.

That's turned out to be good news for Maynard, who's mortgage payment will go down considerably since interest rates are low right now and expected to be so for quite some time.

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Street Cents
4:30 am
Tue October 4, 2011

Buying homes from the bank saves money, but not time

It's a drawn out, frustrating process, but if you're willing to put in the time,  buying a home from a bank can save you a lot of money. Seattle-area real estate appraiser Richard Hagar tells KPLU's John Maynard that while it is mostly investors who seek out these properties, average home buyers can score great deals, too

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Street Cents
5:00 am
Tue September 6, 2011

New home sales: Great deals at center of state, end of runway

New home waiting for the right buyer on the plains near Quincy, Wash.

Great deals on new homes can be found on the plains and near the planes.

That's the word from Seattle-area real estate appraiser Richard Hagar. New developments on the  flatlands of  Quincy, Wash., and the "loud lands" near Sea-Tac Airport are being built and sold at a pretty fast clip. Hagar tells KPLU's John Maynard there are some interesting reasons for that.

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Street Cents
5:00 am
Tue August 2, 2011

Aurora motels entering time of change, the last for most

Seattle's "Bridge Motel" just north of the Aurora bridge is one of the 1960's motels slated for demolition.
Erin Hennessey

Back in the early 1960's, a string of motels along Seattle's Aurora Avenue North sprang up to accommodate tourists pouring into town to visit the Seattle World's Fair. Real Estate Appraiser Richard Hagar tells KPLU's John Maynard that a lot of this property is being redeveloped.

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Street Cents
5:00 am
Tue June 7, 2011

Multiple offers but picky buyers

House for sale in Seattle's Queen Anne neighborhood.
Erin Hennessey

The good news is that some sellers in the current real estate market are getting multiple offers on their property but buyers are being much more choosy when it comes to deciding on a new home.

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Street Cents
5:00 am
Tue May 3, 2011

Seattle apartments: small is beautiful

nicolas Flickr

Is the active street life in places such as Tokyo and Barcelona due, in part, to the fact that many people there live in very small apartments? When your living quarters are about the size of a jail cell (90 to 100 square feet, including the bathroom), then perhaps it's nicer to be outside sitting on a park bench, or spending time in cafes.  Maybe Seattle's street life will perk up with the micro-apartment trend that's happening here.

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Street Cents
1:23 am
Tue April 5, 2011

How high and low can you go?

Some Mercer Island properties are among the highest valued on the current market.
Bing.com

It's that time of year again when KPLU's John Maynard and real estate appraiser Richard Hagar look at the least expensive and the most expensive homes on the market. This time around, they're zeroing in on King County.

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