real estate by Jessica

10 Reasons to Buy a Home in the Winter

2011-11-28T14:34:00.001-08:00

Looking at the rain pouring down outside my office window, I thought it was more than appropriate to write why I think buying a home in the winter is ideal.

10 Reasons to Buy in the winter

1.Motivated sellers. This doesn’t necesaarrily mean they’re desperate. It means they are just as ready to sell as you are ready to buy. This can bring great results for both parties.

2. Low interest rates. I don't think I need to explain this one.

3. Less buyer competition. Cold temps can scare away some buyers. And the holidays keep people busy with vacations and family get togethers. This can be great news especially if you are looking at competitive areas or inexpensive foreclosures.

4. Specialized attention from your lender. Your lender should always be there to answer questions and make you feel comfortable. However, fewer buyers in the market can free up some of your lender’s time. This can translate into even more specialized attention to your needs.

5. Relaxing in spring and summer. While other buyers are searching and moving, you can be kicking up your feet in your new home.

6. Standing inventory. There is good inventory on the market in the winter.

7. Home for the holidays. You can be in a NEW home for the holidays.

8. Discount on mover. A lot of movers are in their slow season so you'll most likely get a great deal from a moving company.

9. Get your tax deduction! One more huge write off before the end of the year will be great when filing your taxes.

10. Houses are at their 'worst' in the winter. With all the rain, snow, and cold, houses typically are at their worst in the winter. It is smart to see your investment at it's worse before you buy it. Rain in the crawl space? Is the roof leaking? Is the house staying warm?

It really is a great time to invest in real estate. Especially in the Pacific Northwest. I can customize an investment package just for you to get your search going. Call, text, or email me today!

Jessica Chase, City Realty Inc, 360-870-0619, chasejessica@comcast.net, www.jessicachase.com

Get Ready for Winter

2011-10-24T14:40:00.000-07:00

As we get colder nights and mornings, it is a good time to get your home ready for the winter.
One important thing to do is check your insulation in your attic and crawl space. It can save you hundreds on your electricity bill and even give your home an edge when selling it.
You can call your local power and energy company and ask them for a referral. Then you will get a discount on your next bill!
You should also check that your heater and hot water tank is insulated. Directions on how to do this information can be found on the web.
Remember to protect your most valuable investment and take good care of it this winter!

Picture Time!

2011-10-24T14:38:00.001-07:00

It is so important when you go to sell your home to have pictures of your home in all the seasons. So as the leaves start to fall, take an autumn picture of your home! Keep it and when your ready to sell, call me and we'll use them in our marketing.

Green Remodeling!

2011-10-13T10:18:00.000-07:00

6 Green Kitchen Remodeling Tips

By: John Riha

Published: November 6, 2010

Turn your kitchen remodel bright green with these six resource-conserving tips.

1. Salvage nontraditional items for new kitchen storage.
Reuse is the gold standard for green remodeling, and a little creativity goes a long way. Banks of old school lockers or lab cabinets, for example, are a hot salvage item for retro-flavored kitchen storage.

2. Reuse stuff from your old kitchen.

Take a hard look to see if there are things you can keep—appliances, cabinets, hardware, faucets, and sinks are all candidates for reuse or refurb rather than replacement. A caveat: Don't keep any faucet purchased before 1997, because it's likely to contain some lead. And dispense with any appliances more than 10 years old. Energy Star appliances are leaps and bounds ahead of their ancestors in terms of energy-efficiency.

3. Install an under-the-counter water purifier.

These have about 10 times the filtering capacity of a faucet-mounted purifier. A model with a top-quality activated carbon filter will remove heavy metals, bacteria, and pesticides—not to mention odors and bad tastes. Expect to pay $150 to $200 for an activated charcoal purifier with a replaceable cartridge, which is peanuts compared with the total remodel and easy to do while the project is under way.

4. Don't forget energy-efficient lighting.

Fluorescent and compact fluorescent lamps use up to 75% less energy than comparable incandescent lamps. In fact, according to EnergyStar.gov, a single CFL bulb will save $30 to $40 during its expected lifespan of 10,000 hours. But make sure you keep task areas well-lit: Consider efficient halogen and LED lighting sources anywhere you're planning to chop veggies or measure ingredients. Or plan a skylight overhead--the sun's still free.

5. Make recycling easy.

Most cabinet manufacturers offer options for lower cabinets that include pull-out recycling bins to keep contents organized and out of sight. You can even get surface-mounted bins to go underneath holes in countertops. Just sweep food scraps right in.

6. Buy counter-depth Energy Star refrigerator instead of a standard-depth model.

Counter-depth fridges fit flush with cabinet fronts instead of jutting out five or six inches into the kitchen. It's a way to carve out extra floor space, get a sleek built-in look, and save energy, since you’re cooling less space. And an Energy Star option adds efficiency over older models. You likely won't even notice the slight difference in capacity, although you'll pay a few hundred dollars more.
Make your decision up front, though, because counter-depth appliances often aren't standard width. You'll need to plan your cabinets accordingly.
And by the way—models featuring the freezer on top use 10% to 25% less energy than a same-sized model with a side-by-side configuration.
Karin Beuerlein contributed to this article.

for more info see our website!

Just Listed! Restored 1930s Craftsman!

2011-10-10T13:43:00.000-07:00

Click HERE to view photos, information and much more!

Calling all Kids!

2011-07-27T17:31:00.000-07:00

Looking for something for your kids to do this summer? VBS at River Ridge Covenant Church is August 1-5, 9-12noon and it’s FREE.

See https://www.groupvbspro.com/vbs/ez/rrcc/gpgs/Home.aspx for more information!

Why Do People Actually Buy a Home?

2011-07-19T11:26:00.000-07:00

It seems that every time we talk about real estate today the conversation immediately goes to the financial aspects of buying a home. Where are prices headed? Where are interest rates headed? Should I wait to try and get a ‘better buy’? Should I wait until I can get a ‘steal’?
The odd thing about all these questions is that survey after survey keeps telling us that price is not the reason families actually buy a home. When money is considered at all, it is in light of not paying rent to a landlord. Let’s look at two recent surveys as examples:
National Housing Survey
The top five reasons given in the survey for buying a home, in order, are:
• It means having a good place to raise children and provide them with a good education
• You have a physical structure where you and your family feel safe
• It allows you to have more space for your family
• It gives you control of what you do with your living space (renovations and updates)
• Paying rent is not a good investment
The Myers Research and Strategic Services Survey
The top five reasons given in the survey for buying a home, in order, are:
• Home ownership provides a stable and safe environment for children and other family members
• Home ownership means the money you spend on housing goes towards building equity, rather than to a landlord
• Home ownership creates the opportunity to pay off a mortgage and own your home by the time you retire
• Home ownership creates the opportunity to live in a neighborhood that you enjoy
• Home ownership allows you the right to decorate, modify and renovate your home as you see fit
Bottom Line
Price dominates conversation when we talk about buying a home. However, when it comes down to it, we actually buy for the same reasons our parents and grandparents did – we want a better lifestyle for ourselves and our families.

Thank you,

Chris Johns

Mortgage One NW, LLC
chris@mortgage1nw.com
(360) 870-4253 cell
(360) 878-8126 fax
WA Lic #: 85440

Summer Fun in Olympia!

2011-07-13T19:05:00.000-07:00

Come join the fun! Capital Lakefair begins today, five days of activity capped by a Sunday night fireworks show. This years theme is "Candyland", focusing on bringing families together in Thurston County!

http://www.lakefair.org/

Retrofit your home "Green"

2011-06-18T12:15:00.000-07:00

FHA, Fannie Mae Launch Energy Efficiency Retrofit Program

The U.S. Housing and Urban Development Department (HUD) announced on May 31 its Green Refinance Plus, a program between HUD's Federal Housing Administration (FHA) and Fannie Mae to boost energy efficiency in older affordable housing. The program will allow owners of existing affordable rental housing properties to refinance into new mortgages that include funding for energy- and water-saving upgrades, along with other needed property renovations.

Under the program, FHA and Fannie Mae will share the risk on loans to refinance existing rent-restricted projects while permitting owners to borrow additional funds to make energy-saving improvements to their properties. Owners of existing multifamily affordable properties typically refinance their mortgages every 10 to 15 years. In older apartment buildings, however, owners are often hard-pressed to find additional financing to maintain or improve the physical condition of their properties, including making energy-efficient upgrades. Soon, Fannie Mae and its participating lenders will begin accepting applications to refinance owners' debt and improve the energy efficiency of their properties.

The initiative is intended to refinance the expiring mortgages of Low Income Housing Tax Credit properties, and other affordable projects, and to lower annual operating costs by reducing energy consumption. Fannie Mae and HUD anticipate approximately $100 million in initial refinance volume with an average loan amount of $3.5 to $5 million. See the HUD press release and a fact sheet about the Green Refinance program.

Compliments,

U.S. Dept of Energy

Investing in a Green Home

2011-06-18T11:52:00.000-07:00

Environmentalism Makes a Market for Itself

Take this as a fact for your future: green homes will soon be more valuable than non-green homes of a similar ilk. There are countless reasons why you should invest in a green home today, and an increasing demand for green products has spawned an exponentially expanding “green market.” Green-for-green, if you will. As green homes increase in demand, they will become a profitable investment, and so will the companies that contribute to the construction, design, and research of these homes. Here are some of the many benefits of going green:

Less Maintenance & Higher Resale Value

Green building exceeds basic building code requirements by using premium materials that are more durable and often of a higher quality. Green Building methods (better construction, attention to detail) enhance a home’s performance and reduce maintenance and replacement costs, kicking your home’s value up through quality construction.

Increased Quality of Life

A smart, tight design makes green homes significantly more comfortable and efficient than other homes. Green construction also encourages use of products and materials that reduce or eliminate sources of indoor pollution, keeping the air safe and healthy for everyone. Healthier paints, adhesives, and stricter emission and ventilation requirements help to achieve a healthy home.

A Solid Investment and a Better Mortgage

Green homes are more energy efficient and can result in utility bills being up to 65% lower. Green building promotes sustainable communities, a diverse economy and reduces our impact on the environment. Not only are green homes a solid investment, but going green can also snag you an Energy Efficient Mortgage or EEM, which makes it easier for borrowers to qualify for loans to purchase homes with specific energy-efficiency improvements.

EcoBrokers

EcoBrokers deal specifically with green homes, and organizations like the AEEREP (www.aeerep.org) are uniting to stimulate the green market through education and exposure of green principles throughout the world. After all, the benefits are tangible when you live in a green home: energy costs are lower, homes are more comfortable, and a smaller carbon footprint is left by your home.

Time to Buy...Low Rates!

2011-05-18T11:40:00.000-07:00

I get these daily updates from Brandy Legault and couldn't help but share how low rates are! Time to buy!

Today’s Rates
Conv 4.375%
FHA 4.25%
VA 4.25%
Conv 15 yr 3.75%
USDA 4.625%
Jumbo 5.75%
Investment 4.875%
3-4 investment 5.125%
Conv 5/1 arm 3.125%
FHA-VA 5/1 arm 3.75%

Compliments of:
Brandy LeGault
Loan Originator
Ironwood Mortgage
9333 Martin Way E, Ste 210
Lacey, WA 98516
360.280.1467 direct
360.489.1792 fax
BrandyLeGault@comcast.net
www.Ironwoodmtg.com
For more information visit: http://www.jessicachase.org/Time+to+Buy...Rates+are+LOW

Like Us on Facebook and Win!

2011-03-07T11:56:00.001-08:00

Like Us on Facebook and be entered to win a $200 Home Depot Gift Card!

www.facebook.com/OakRidgehomes

OakRidge Homes President's Day Sale!

2011-02-18T13:13:00.000-08:00

Don't miss the chance to save $9,000 on a brand new home!

Please Come Support Dustin Doughty!

2011-02-09T12:55:00.001-08:00

LIVE BIG!

2011-01-21T13:04:00.000-08:00

Briggs Village Townhomes are breaking all the rules! Just over a week left of Zero Closing Costs!

Last Home Available in Briggs Village!

2011-01-12T14:07:00.001-08:00

Don't miss out on this home! Take advantage of the Zero Closing Costs for this month!

New Home, New You!

2011-01-07T10:50:00.000-08:00

OakRidge Homes is offering Zero Closing Costs for all standing inventory!

Get in on this great deal while you can!

Holiday Savings With OakRidge Homes!

2010-12-15T12:53:00.001-08:00

Click on the link below to see the savings:

http://www.sharperagent.com/links/A2CE9E2D

5 Reasons You Should Sell Your House TODAY!

2010-10-22T10:27:00.000-07:00

Selling your house in today’s market can be extremely difficult. It is for that reason that every seller should take advantage of each and every opportunity that appears. Each fall, such an opportunity presents itself. This fall, that opportunity may be just too good to pass up.

Below are five reasons you should consider when pricing your house to sell in the next 90 days. Meet with your real estate agent and mortgage professional today and see whether it is the right move for you and your family.

1. Entering this time of year, the buyers are more serious.

We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of urgency with the supply of eligible properties at all time highs. However, at this time of year, the ‘lookers’ are at the stores doing their holiday shopping. The home buyers left in the market are serious and are more apt to make a purchasing decision. Less showings – but to more motivated purchasers.

2. If you are moving up, you can save thousands.

The Chicago Tribune stated in an article last week that sellers who want to ‘trade up’ should act now:

It could be a bigger house, different neighborhood or a better school district, but it comes with a higher price tag. Do the math; this might be the right time.

A home that was once worth $300,000 may now be worth $240,000 in a market where prices have fallen 20 percent. Wow, you think, the seller is taking a bath. But that seller may also be a prospective buyer who wants a house that once was valued at $400,000. With an equivalent market drop and a realistic listing price, that house may now sell for $320,000. So, in effect, the person is losing $60,000 on the sale of one home but coming out ahead $20,000 on the purchase of another.

Keep in mind the spread may be even greater. There’s a smaller pool of potential buyers for more expensive homes, so sellers may be more willing to cut their price to get a deal done.

3. Interest rates just fell again – to 4.19%.

Professor Karl E. Case, the founder of the Case Shiller Pricing Index in an article in the New York Times last month actually did the math for us:

Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833 … housing has perhaps never been a better bargain.

4. You beat the rush of inventory that is coming next year.

Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. As an example, here is the number of listings available for sale in each of those months in 2010.

January – 3,277,000
February – 3,531,000
March – 3,626,000
April – 4,029,000

You won’t have to worry about this increasing competition if you sell now.

5. You have less ‘discounted’ inventory with which to compete.

This year, sellers of non-distressed properties have been given an early holiday present. With banks declaring a suspension on the sale of many distressed properties (foreclosures), there has been a large supply of discounted properties removed from competition. No one knows how long this self imposed moratorium will last. However, while it does, every homeowner has a better chance of selling their property.

Bottom Line

If you are looking to sell in the near future, there may not be a more opportune time than this fall. Serious buyers, great move-up deals and less competition from foreclosures creates the perfect selling situation. Don’t miss it!

Foreclosure Freeze

2010-10-13T11:32:00.000-07:00

Just wanted to pass along information that might be helpful in educating you on our real estate market. The foreclosure freeze is going to have a big impact...we are not sure what exactly it will do. There are many different predictions and opinions, but it is best to educate yourself if you are thinking about buying. ...Here's one of many articles out there. I would love to hear what your thoughts are and if you have any questions!My goal is to keep you informed as much as possible with the latest real estate news.

http://blogs.wsj.com/developments/2010/10/13/navigating-the-foreclosure-freeze-a-buyers-guide/

Before You Buy a Home - Look at Eight Reasons to Buy a Home

2010-10-13T10:07:00.000-07:00

If you're like most first-time home buyers, you've probably listened to friends', family's and coworkers' advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are eight good reasons why you should buy a home.

Pride of Ownership

Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.

Appreciation

Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values across the country. Its House Price Index breaks down the changes by region and metropolitan area. Many people view their home investment as a hedge against inflation.

Mortgage Interest Deductions

Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment.

Property Tax Deductions

IRS Publication 530 contains tax information for first-time home buyers. Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. In California, the passage of Proposition 13 in 1978 established the amount of assessed value after property changes hands and limited property tax increases to 2% per year or the rate of inflation, whichever is less.

Capital Gain Exclusion

As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains. You do not have to buy a replacement home or move up. There is no age restriction, and the "over-55" rule does not apply. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit--subject to limitation--free from taxation.

Preferential Tax Treatment

If you receive more profit than the allowable exclusion upon sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive preferential tax treatment.

Morgage Reduction Builds Equity

Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment. On average, each $100,000 of a mortgage will reduce in balance the first year by about $500 in principal, bringing that balance at the end of your first 12 months to $99,500.

Equity Loans

Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 18% to 22%. Equity loan interest is often much less and it is deductible. For many home owners, it makes sense to pay off this kind of debt with a home equity loan. Consumers can borrow against a home's equity for a variety of reasons such as home improvement, college, medical or starting a new business. Some state laws restrict home equity loans.

Realty Times - Sell Your Home Faster, Give Your Cabinets a New Look

2010-09-27T11:25:00.000-07:00

by Phoebe Chongchua

As the fall season sets in and the weather gets colder, it's just another reason to spend more time in the kitchen cooking up warming soups and maybe some hot cider. But no matter which season, kitchens and great rooms tend to be very popular for homeowners and, of course, buyers.

For this reason, it's important to make sure your cabinets are looking good--not laden with holes from chipped or worn off paint or stain. Kitchen cabinets often take a beating from all the opening and closing of the doors and drawers; however getting them looking good again can seem like an overwhelming project.

According to the National Kitchen & Bath Association, "The variables that affect the cost of kitchen cabinets relate to quality, appearance, and functional effectiveness."

So, if you're really sprucing them up and using high-end handles, adding more shelving inside them, the costs will rise. But what if the insides of your cabinets aren't really in poor condition? Maybe the hinges and the hardware are still in good shape, it's just the outside that could use a makeover.

That's when giving your cabinets a new face might be your best option. Stripping the cabinets and painting or refacing them can add a lot of value to the overall appeal of the home without incurring the bigger expense of replacing your cabinets.

The NKBA says that, "This will cost about half of what you would spend for comparable new kitchen cabinets, but such a strategy will only work if the basic room configuration and cabinet placement in your existing kitchen are to remain the same." However, if your cabinets are sagging or you need a new configuration for more space, for instance, this option won't work. But, again, if your cabinets simply need a new face, this can be a good solution especially when you're listing your home for sale. The investment isn't nearly as high as replacing them.

There are a few steps involved in refacing: remove/prep the veneer, strip the surface, fill in missing chips, clean cabinets, apply new veneer and trim, prep veneer, and finally stain and finish. Some homeowners decide to do their own handyman work.

There are many articles on the step-by-step process, so this column won't focus on that but instead will let you know a few things that you should be aware of to ward off bigger problems. Actually, the first is an issue I had when refacing my kitchen cabinets. (After one painter messed up the cabinets, I ended up having to hire a qualified professional to successfully finish the job.) What you should know before you start. Especially in tract homes, certain types of cabinets may have a protective layer (veneer) on top of the wood or pressed particle board. If you remove this layer you can end up with a big mess. While it often chips off over the years, and appears easy to remove, in fact you can peel it off with your finger tips, removing it completely will require the under material to be sanded and prepped so that the surface will allow paint to stick to it. But, removing it may also cause harm to the cabinets.

"Most kitchen cabinets are made with pre-veneered laminated wood (particle board in some cases) and the hardwood veneer is rolled onto the laminated wood with terrifically high pressure and in most case you would damage the wood underneath trying to remove the veneer," according to RefinishFurniture.com. The site indicates that the old veneer can be left on as a base. The old must be lightly sanded to remove the finish and then a new veneer can be added. RefinishFurniture.com also recommends marking all the cabinet doors before you remove them to strip them or prep them for paint or stain. It'll save you so much time and frustration when you go to put them back on.

Another word of advice. While many homeowners like the do-it-yourself projects, when you're selling your home, this kind of project can become tedious and too time consuming. Refacing your cabinets will help your home show better but the question is: Do you do-it-yourself or hire a company to do what they do best? Either way, newly painted or stained cabinets go along way when it comes time to sell your home.

Enough with the doom and gloom about homeownership

2010-09-22T12:20:00.000-07:00

Enough with the doom and gloom about homeownership.

Sure, maybe there's more pain to come in the housing market. But when Time magazine starts running covers that declare "Owning a home may no longer make economic sense," it's time to say: Enough is enough. This is what "capitulation" looks like. Everyone has given up.

The Sept. 6 cover of Time magazine: This is what capitulation looks like.

After all, at the peak of the bubble five years ago, Time had a different take. "Home Sweet Home," declared its cover then, as it celebrated the boom and asked: "Will your house make you rich?"

But it's not enough just to be contrarian. So here are 10 reasons why it's good to buy a home.

1. You can get a good deal. Especially if you play hardball. This is a buyer's market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We're four to five years into the biggest housing bust in modern history. And prices have come down a long way– about 30% from their peak, according to Standard & Poor's Case-Shiller Index, which tracks home prices in 20 big cities. Yes, it's mixed. New York is only down 20%. Arizona has halved. Will prices fall further? Sure, they could. You'll never catch the bottom. It doesn't really matter so much in the long haul.

Where is fair value? Fund manager Jeremy Grantham at GMO, who predicted the bust with remarkable accuracy, said two years ago that home prices needed to fall another 17% to reach fair value in relation to household incomes. Case-Shiller since then: Down 18%.

2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won't see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refi.

3. You'll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you'll get a tax break on capital gains–if any–when you sell. Sure, you'll need to do your math. You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting.

4. It'll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension–zoning permitted–or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. "You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy." It was a small sign that said something big.

More on the Developments Blog

· Buying a Home, Good Idea?

· With Little to Do, Home Builders Focus on Quality

· In Monaco, the 'Most Expensive' Home

· House of the Day: Private Maine Island

5. You'll get a better home. In many parts of the country it can be really hard to find a good rental. All the best places are sold as condos. Money talks. Once again, this is a case by case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. But few places are so favored. Generally speaking, if you want the best home in the best neighborhood, you're better off buying.

6. It offers some inflation protection. No, it's not perfect. But studies by Professor Karl "Chip" Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That's valuable inflation insurance, especially if you're young and raising a family and thinking about the next 30 or 40 years. In the recent past, inflation-protected government bonds, or TIPS, offered an easier form of inflation insurance. But yields there have plummeted of late. That also makes homeownership look a little better by contrast.

7. It's risk capital. No, your home isn't the stock market and you shouldn't view it as the way to get rich. But if the economy does surprise us all and start booming, sooner or later real estate prices will head up again, too. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.

8. It's forced savings. If you can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won't. Most, I dare say. Once again, you have to do your math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.

9. There is a lot to choose from. There is a glut of homes in most of the country. The National Association of Realtors puts the current inventory at around 4 million homes. That's below last year's peak, but well above typical levels, and enough for about a year's worth of sales. More keeping coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices.

10. Sooner or later, the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought. But many more will simply be destroyed–either deliberately, or by inaction. This is already happening. Even two years ago, when I toured the housing slump in western Florida, I saw bankrupt condo developments that were fast becoming derelict. And, finally, a lot of the "glut" simply won't matter: It's concentrated in a few areas, like Florida and Nevada. Unless you live there, the glut won't have any long-term impact on housing supply in your town.

Write to Brett Arends at brett.arends@wsj.com

Where is Jimmy HAFA?

2010-09-22T12:17:00.000-07:00

IS JIMMY “HAFA” ALIVE AND WELL?

We are attorneys in Washington State. We practice throughout Washington emphasizing, during our Recession, distressed homeowner client assistance. We negotiate short sales and work closely with Real Estate Professionals throughout the state.

WHERE IS JIMMY “HAFA”?

HAFA is a government program that was designed to change the way that short sales are conducted. It will, but I am discovering every day more and more impediments to this program that provides seller assistance to short sales. I am publically announcing AGAIN, as I did last November when word of the program came out:

IT WILL BE EFFECTIVE, BUT FAR LESS EFFECTIVE THAN ANYONE ANTICIPATED WHEN THE PROGRAM WAS FIRST ROLLED OUT!!!!

MANY ARE CALLED BUT FEW ARE CHOSEN:

In order to qualify for HAFA, one has to qualify for HAMP and fail or reject that opportunity. [HAMP is the government sponsored loan modification program]. Well let’s look at some hard statistics for HAMP right from the government:

1. 80% of those that apply will fail to get an actual final loan modification. [Only 20% will succeed.]

2. 64% of those that do get a loan modification will fail after nine (9) months.

So HAMP has been a complete failure. There are lots of fingers being pointed and this memo does not try to ascertain why that program failed. IT HAS FAILED!

So if one applies for HAFA one can expect many of the same problems to the point that we expect that a year after implementation, HAFA statistics will parallel those of HAMP above.

LOTS OF “TRIP-WIRES” FOR HAPA DIS-APPROVAL:

Many reading my writing here will not believe what I say, as they believe what the government is telling them and that this is the best program since the beginning of time. IT COULD BE, BUT IT ISN’T. IT WON’T BE. WHY?

INITIAL FIVE PART TEST FOR HAFA:

There is a 5 part test to get into HAFA (and it’s the same 5 part test to get into HAMP). However, they are NOT the only criteria that need to be met. What is that 5 part test?

1. Must be owner occupied [that knocks out a whole group of customers doesn’t it?];

2. Must be a loan not greater than $727,250.00 [Normally not an obstacle for the masses].

3. Must have been taken out before January 1, 2009 [This has only come up 5 times for me in my practice].

4. Must be in default or imminently in default.

5. Payment amount must be greater than 31% of gross income [First loan only plus reserves].

Meet that test? Are you in??? Wait. Watch out as you are only at the beginning and there are many “trip-wires” that can throw you out of the program and not have HAFA available. [By the way at Bank of America says if your HAFA application is rejected for any reason you get to start out at the beginning for a traditional short sale application. I see that occurring with other servicing companies as well].

MORE “TRIP-WIRES”…………………

PMI:

So you have one loan and let’s say that there is PMI [Private Mortgage Insurance]. If the PMI Company does not agree to release liability, you are OUT of HAFA!!! Many of the PMI companies are not agreeing to go along with HAFA. Remember that they do NOT have to. It is voluntary.

SECOND MORTGAGES:

If the holder of a second mortgage doesn’t agree to release the borrower of the debt, you are OUT of HAFA!!! [Many of the lenders we deal with are telling us that they will only involve themselves with HAFA on a case by case basis. Many others say that by policy that they will not be involved in HAFA]. This doesn’t KILL a short sale. It takes us back to negotiating it as a traditional short sale.

MINIMUM NET PROCEEDS:

You have to read the Regulations concurrently with the forms as well as talking to the various banks daily and we find that there’s a SECRET in the program. It’s not a real secret. It’s a fully exposed secret that is contained right smack dab in the program announcement paperwork.

What’s the secret? They can tell you what price to sell the property, but the servicing company is precluded from telling you their minimum net proceeds amount. It’s a secret. [Keep in mind that in the short sale negotiation business in our practice, this is all we talk about with lenders day in and day out].

Say you go out and get the new Listing Price and you, as an agent, are all ready to sell the property at the price offered and life is good. Heck you come in with a price for the property at or around the Listing Price, but [within 10 days] you find your offer is REJECTED. It didn’t meet the MINIMUM ACCEPTABLE NET PROCEEDS (MANP). This is in the program, I did not invent this. You included seller costs that were not approved!!! The structure of your deal made it fail. As a result, you will be severely limited in how you structure a HAFA short sale.

WAHINGTON IS A PECULIAR STATE:

You see, we have this huge 1.78% transfer tax. In most cases when we start talking about a deal with a national lender we are always trying to see if we can get it done with 10% closing costs as that is what the lenders like at “first triage”. However, we are a 12% state because of that pesky transfer tax. It causes national lenders havoc on a regular basis. It will create a real problem for HAFA as well.

The HAFA program is a national program attempting to apply to all states with many different ways of doing business in each individual state especially Washington. It is tough to get all the typical seller costs contained into those that are approved by HAFA and still meet the Minimum Net Amount without having a transaction that probably won’t fly because it won’t be able to meet the economic needs of many purchasers. Some deals will fly, but many will not fit into the constraints of this program. It will take a pretty “vanilla” deal to make it through HAFA guidelines. I don’t know about you, but our office never gets any of these “vanilla” deals during this recession.

You see there are ONLY CERTAIN ALLOWABLE expenses of sale. Read the list and you will find that many of the types of concessions and other matters that constitute the vast majority of our short sale deals will actually KILL the deal!!! [Keep in mind that we always have traditional short sales still available to us].

1. Seller has large amount of unpaid taxes? [Probably a deal killer at least for HAFA].

2. Seller concessions for buyer closing costs? [Probably a deal killer at least for HAFA].

3. $3000 relocation assistance is part of the costs of closing at least according to HAFA and makes it affect that magic net amount to the lender. [That is the secret amount].

4. Home Owners Fees due? [Anything of any substantial amount will probably be a killer].

5. Utility charges? [Again anything above normal will probably be death to a HAFA deal].

SO WHY AM I UP ON MY SOAP BOX?

I am happy to have any program that can facilitate short sales. However, I am duty bound to tell our Real Estate Professional partner when I see more and more signs that there are major defects in this program that can cause you problems.

We are heavily involved in HAFA applications right now as we want a complete record of each and every lender’s approach to the program so we can properly and timely advise our clients and Real Estate Professionals.

DON’T PROMISE MORE THAN YOU CAN DELIVER:

We are very cautious with sellers, but we are taking advantage of this program for anybody that we can make qualify.

We are NEVER guaranteeing the $3000 relocation assistance as we see so many occasions where that can be eliminated and it’s amazing that the sellers seem to have such vivid recollection of that aspect of the program more than anything else.

FANNIE HAFA is different from FREDDIE HAFA and both are different from non-Fannie and non-Freddie HAFA. We investigate for each client we consult with which specific program MAY apply to them.

All these changes and all these new programs out there can create new challenges for you as Real Estate Professionals. We work with this stuff 18 hours a day and it’s sometimes difficult for us to make certain that we have all these programs under our belts. However, as this is what we do, we must have the knowledge and it must be complete.

WHERE IS JIMMY “HAFA”?

He’s everywhere it seems right now. Our office and our attorneys know all the rules and regulations and we can assist you and your clients through HAFA or traditional or anything that has to do with loan modifications, short sales, foreclosure and bankruptcies.

We’re good at what we do and we’re not afraid to stick our opinions out in the market when “it needs to be said”.

CONSULTATIONS ALWAYS AVAILABLE:

We meet with sellers (and you folks too) for a fixed fee of $150.00 to go over all aspects of distressed property transactions. Give our people a call and set up a consultation in-person, by phone or by video conferencing. Just call 253-284-3838 and press “1” to speak with one of our paralegals.

Regards,

Ed McFerran

McFerran, Burns & Stovall, P.S.

Attorneys at Law

3906 South 74^th Street

Tacoma, WA 98409

253-284-3838 (Short Sale Hotline)

1-800-236-4948

Remodeling your home? Get online

2010-09-20T10:19:00.000-07:00

(Money Magazine) -- Home improvement is one of the fastest-growing segments of e-commerce. But the consequences of a bad decision when it comes to finding a contractor or remodeling products online are far worse than buying the wrong paperback.

What if those rave reviews you read about a contractor are ringers posted by his daughter -- or if your supposedly in-stock sink order doesn't ship for two weeks, throwing off your entire work schedule?

Follow these tips to avoid glitches and get the most for your money.

To find a contractor: Sites that are driven by consumer ratings are your best bet. That's because you get to see what as many as hundreds of prior customers say about all the pros in your area.

Renovation wizard: Will your project pay off?

Just watch for sites with anonymous postings and ads that appear in search results that look like positive ratings. In the New York, Chicago, and Los Angeles metro areas, or a few counties in New York, Connecticut, and Florida, check out Franklin-Report.com, which compiles user comments into Zagat-like ratings.

Beyond those regions, a good alternative is Angieslist.com, which charges $5 a month, and uses the credit card info to prevent anyone from creating more than one login in order to post multiple revews.

To vet a contractor: The next step is to talk to former clients and visit current and completed job sites. Sadly, there are no e-ternatives to doing this in person.

But there is one key step you can do online: a background check. Get a report about a contractor's licensing, bonding, insurance, bankruptcy, civil judgments, criminal background, liens, and credit rating for $13 at contractorcheck.com, run by the credit bureau Experian.

To order supplies

Sites run by home-improvement chains (such as HomeDepot.com and Lowes.com), boutique manufacturers (BeadBoard.com, Horizon-Shutters.com), and specialty e-tailers (eFaucets.com, TileShop.com) offer bigger selections than local retailers do. But the main attraction is price: Discounts of 10% to 50% aren't uncommon.

Just keep in mind that if something goes wrong, those savings could turn into cost overruns. As with any online purchase, you run the risk of shipping damage or late deliveries, which can derail a project with multiple tradesmen working around one another's schedules.

So order online only if your contractor okays it and provides technical specs; you're far enough ahead of the installation date to make other arrangements if there's a problem; the site is an authorized dealer for the brands you're buying; and if possible, you've seen the product firsthand.

Otherwise, buy locally. It'll be easier to get matching items quickly if needed, and you'll avoid having to deal with a faraway call center if a problem arises.

Mortgage Rates Rise Again This Week

2010-09-14T10:51:00.000-07:00

Stronger than expected economic data pushed mortgage rates a little higher again this week. Following a string of weekly drops since the middle of June, mortgage rates have now risen for two straight weeks.

Over the summer, mortgage rates have fallen substantially. Weaker than expected economic reports and the debt crisis in smaller European countries caused investors to reduce their forecasts for economic growth and produced a flight to the relative safety of government guaranteed bonds, resulting in the lowest mortgage rates in decades. Now, however, some investors are asking whether they can fall further. Weaker than average economic growth, low inflation, and an "unusually uncertain" economic outlook still make the current environment supportive of low mortgage rates, but some investors feel that these factors have been fully "priced in." These investors feel that economic growth must falter significantly for mortgage rates to drop much from here.

Also contributing to the fall in rates was the possibility that the government would take action which would push mortgage rates lower. The political climate has turned less favorable for this, though. Growing opposition to fiscal spending of any type has reduced the chances for additional government support for the housing market and mortgage rates.

The most significant economic data next week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Thursday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Friday. CPI looks at the price change for those finished goods which are sold to consumers. In addition, Retail Sales, an important indicator of economic growth, will be released on Tuesday. Retail Sales account for about 70% of economic activity. Industrial Production, another important indicator of economic growth, is scheduled for Wednesday. Empire State, Import Prices, Consumer Sentiment and Philly Fed will round out the week.

Courtesy of:

Sandra Pearce

Home Loan Consultant

MLO-282403

Republic Mortgage

(360)280-7607 Mobile

888-843-6939 Fax

republicmortgage.com/spearce

INFO THAT HITS US WHERE WE LIVE

2010-09-07T13:11:00.000-07:00

Last Thursday, July Pending Home Sales came in UP 5.2%. This measure of signed contracts on existing homes indicates we should see an increase in Existing Home Sales for August and September. Some analysts feel it shows the start of positive market movement after the end of the tax credit, which pushed signed contracts forward into April. We now have a new batch of buyers looking to take advantage of today's affordable prices and historically low mortgage rates.

Speaking of prices, Standard & Poor's/Case-Shiller National Home Price Index reported home prices UP 1.0% from May to June in 20 major U.S. cities. This was the index's third straight gain, which many experts feel came from the increased demand due to the tax credits. So sellers still need to be flexible, since not as many eager buyers are now in the market. But prices do seem to be stabilizing, so buyers would do well to act on a property they like, rather than hold out for any significant price declines going forward.

National average mortgage rates have recently been at historic lows. But in their latest forecast, Mortgage Bankers Association economists see rates going up slightly in the last three months of the year, rising a bit above that for 2011, then perhaps up another percentage point by the end of 2012. More reason for buyers and refinancers to not drag their feet!

>> Review of Last Week

POSITIVE WITH NEGATIVES... The U.S. economy keeps delivering mixed signals, but this week investors on Wall Street let a positive vibe drive the proceedings. Stocks went up four days in a row, ending with a big rally Friday driven by an August Employment report that was by no means great, but better than the downbeat readings that were expected. All three major stock indexes ended up for the week with the Dow now up for the year.

There were notable negatives that continue to show the pace of recovery has slowed. The ISM Services Index came in below estimates indicating modest growth in the non-manufacturing sector. Consumer inflation was UP 0.2% in July and UP 1.5% over a year ago. This is still within the Fed's acceptable range, although some economists think inflation should start rising noticeably next year. Personal income was up 0.2% for July, but this was below what the consensus expected. Finally, final Q2 Productivity dropped to a 1.8% annual rate, a bigger dip than previously estimated.

Positive signs included the ISM Manufacturing index, reported up for July instead of down as expected. August Consumer Confidence also beat expectations. But the big news came with Friday's Employment Report. The U.S. economy lost 54,000 nonfarm jobs in August, far less than the 100,000+ job losses expected. The private sector added 67,000 jobs, while upward revisions to the two prior months took the net gain to 133,000 jobs. Average hourly earnings were UP 0.3% for the month and UP 1.9% this year. But unemployment ticked up to 9.6%, due to an increase in the work force. So even though the report played well on Wall Street, it didn't on Main Street.

For the week, the Dow ended UP 2.9%, to 10447.93; the S&P 500 was UP 3.7%, to 1104.51; and the Nasdaq was UP 3.7%, to 2233.75.

Bond prices held up for most of the week, but Friday's jobs report surprise kept things in check. The FNMA 30-year 4.0% bond we watch ended UP 7 basis points for the week, closing at $102.27. Again, Freddie Mac's weekly survey showed national average fixed rates for conforming mortgages at historic low levels.

>> This Week’s Forecast

TAKING A BREAK...This week truly is a break from the hectic pace of economic reports we've seen lately. The Fed's Beige Book on Wednesday will give us another take on the central bank's view of the economic recovery, as reported from Federal Reserve Districts across the country. Observers look to this survey for signs of where Fed policy decisions may be heading in the future. We will continue to watch Thursday's Initial and Continuing Jobless Claims, as experts are predicting a slow improvement there. Thursday's July Trade Balance is expected to be down slightly from the prior month, perhaps signaling more demand for our goods overseas.

Courtesty of:

Teri Sanders/Sterling Savings Bank
Loan Officer
4200 6th Ave SE, Suite 301
Lacey, WA 98503
Phone: (360) 339-5395
Mobile: (360) 259-2266
Fax: (866) 271-3636

5417 Kendra, New Listing! So Cute, A Must See!

2010-08-30T11:06:00.000-07:00

3 Bedrooms plus den, 2 Baths, Formal Living & Great Room Concept, $209,900!

Stunning turn-key home on a big corner lot. You’ll fall in love with this 3 BR plus den, 2 bath home that features both a formal living room and a great room concept. French doors on the office and master. The main bath is completely updated with ceramic tile floor and countertop. The master features a 5-piece master bath with walk-in closet. Designer touches throughout. Beautiful landscaping. Enjoy the community park just down the street.

Click here for pictures and more info: http://www.jessicachase.org/featuredhomes

INFO THAT HITS US WHERE WE LIVE

2010-08-30T10:36:00.000-07:00

You can't sugar-coat last week's housing reports, but they don't necessarily foretell a "double-dip" recession in real estate. July Existing Homes Sales were off 27.2%, at an annual rate of 3.83 million, well below the expected 4.65 million rate. The months' supply went from 8.9 to 12.5 and there was also a rise in inventories. The truth is, the expectation was a bit high. An annual rate below 4 million for July makes sense, given that the home buyer tax credit was slated to end in June.Getting an $8,000 check from the government certainly encouraged lots of people to move up their purchases. For the same reason, experts also predict weak August numbers, but after that, some feel existing home sales will start heading back to about 5.5 million units annually. For the year, inventories are down 2.0%, while the median price is UP 0.7%.

July New Home Sales were down 12.4% to a 276,000 annual rate, below the expected 330,000 pace. The months' supply went to 9.1, but inventories were unchanged at 210,000, their lowest level in decades. Part of the sales drop was because the now expired tax credit required a signed contract by April 30. New homes sales are counted at contract and the April number hit 414,000. In the three months since then, sales are averaging only 291,000 annually. New home buyers may also be going for recently built homes, now at attractive prices. New homes, typically about 15% of sales, are now around 7%!

The Mortgage Bankers Association's weekly survey showed purchase loan applications UP 1% from the week before, refinance applications UP 6%, and mortgage rates at record low levels.

>> Review of Last Week

THANK YOU, BEN... Ben, of course, is Chairman Bernanke, head of the Federal Reserve. Friday he said the Fed has no triggers set for further easing of monetary policy and he sees continued economic growth. These comments at a central bank summit in Jackson Hole, Wyoming, were all the Wall Street bulls needed to hear to push stocks up Friday after a week of declines. The big rally wasn't quite big enough, though, as the three major indexes still ended down for the week just a tad.

There were other decent economic signs. The August Richmond Fed index of manufacturing in the mid-Atlantic region was +11, down from July's +16, but higher than expected and showing that the factory sector still continues its strong growth. Durable Goods orders were UP 0.3% for July, but disappointed because 3.0% was forecast. Nonetheless, Durable Goods are UP 9.3% over a year ago. Initial unemployment claims dropped by 31,000 to 473,000 for the week, a nice sign after last week's surge. Continuing claims also fell, by 62,000 to 4.46 million.

Friday featured two big news items. First, Q2 GDP was revised lower, from 2.4% to 1.6% growth, but this was measurably better than what many economists had expected and significant parts of the report showed improvement. Personal spending and business Investment were both revised UP, with domestic purchases UP 4.3%. Corporate profits continued their strong growth in Q2, UP at a 20% annual rate and UP 39% over a year ago. Then we had Chairman Bernanke reassuring investors he expects growth to pick up in 2011 and the Fed is ready to use "unconventional measures if it proves necessary." Again, thank you, Ben!

For the week, the Dow ended down 0.6%, to 10150.65; the S&P 500 was down 0.7%, to 1064.59; and the Nasdaq was down 1.2%, to 2153.63.

Bonds had a bit of a rocky week, ending with investors heading back into stocks on Friday, willing to take on more risk after listening to Bernanke. The FNMA 30-year 4.0% bond we watch still ended UP 5 basis points for the week, closing at $102.20. Freddie Mac's survey showed national average fixed rates for conforming mortgages at historically low levels for yet another week.

>> This Week’s Forecast

INCOME, JOBS, INFLATION, JOBS, MANUFACTURING, JOBS, HOME SALES, JOBS...There will be important economic reports to ponder, but rest assured, everyone will have Friday's August Jobs Report on their minds the whole week. Experts project a smaller loss of payrolls than the prior month, with the jobless rate about the same. Leading up to the biggie, Monday features July Personal Income, forecast up, and July PCE readings, which should show inflation remaining pretty much in check. Tuesday's Consumer Confidence is projected up a little, but manufacturing is predicted down a tad, as measured by Tuesday's Chicago PMI and Wednesday's ISM Index. Tuesday afternoon we'll have the minutes from the Fed's August 10 meeting and see if they add any insight to Bernanke's comments last Friday.

Courtesy of:

Teri Sanders
Loan Officer
4200 6th Ave SE, Suite 301
Lacey, WA 98503
Phone: (360) 339-5395
Mobile: (360) 259-2266
Fax: (866) 271-3636

New Home Sales Fall to Slowest Pace on Record in July

2010-08-26T10:21:00.000-07:00

WASHINGTON – WASHINGTON -- Sales of new homes dropped sharply last month to the slowest pace on record, the latest sign that the economic recovery is fading.

The Commerce Department

said Wednesday that new home sales fell 12.4 percent in July from a month earlier to a seasonally adjusted annual sales pace of 276,600. That was the slowest pace on records dating back to 1963. The past three months have been the worst on record for new home sales.

Weak sales mean fewer jobs in the construction industry, which normally powers economic recoveries. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.

"If new homes aren't selling, there's no incentive to build more," said Nigel Gault, chief economist at IHS Global Insight.

Builders have been forced to compete with foreclosed properties offered at significantly lower prices.Partly as a result, new home sales made up only about 7 percent of the housing market last year. That's down from about 15 percent before the bust.

High unemployment, slow job growth, and tight credit have kept people from buying homes. The industry received a boost this spring when the government offered tax credits to homebuyers.

Since they expired in April, the number of people looking to buy homes has dropped, even with bargain prices and the lowest mortgage rates

in decades available.

More than 600,000 new homes were sold annually from 1983 through 2007. After the housing bubble popped, sales plunged to 375,000 last year. That was the weakest yearly total on record.

Builders have sharply scaled back construction in the face of weak sales. The number of new homes up for sale at the end of July was unchanged at 210,000, the lowest level in about 40 years.

Due to the sluggish sales pace, it would still take more than nine months to exhaust that supply, above a healthy level of about six months.

New home sales were down nationwide. They fell by more than 25 percent from a month earlier in the West, 14 percent in the Northeast, 9 percent in the South and 8 percent in the Midwest.

The median sales price in July was $204,000. That was down 4.8 percent from a year earlier and down 6 percent from June

How much money do you need to purchase?

2010-08-23T12:46:00.001-07:00

If you have ever had the television on late at night it isn’t possible to NOT run across one of those infomercials about how to buy real estate. The stories are indeed amazing. “I bought this $500,000 beach front condo for $10,000 and I didn’t have to bring anything to the closing table,” says the Hawaiian shirt wearing host. But how does that one in a million transaction affect you and your purchase?

One way it negatively affects your pending transaction is the idea of buying a home with nothing out of your pocket. Yes it is possible to structure things certain ways where you can finance all of your closing costs, but if you are going to take advantage of things like that then you need to make sure you are very flexible in what house you decide to purchase. You need to be prepared to walk away from your dream home if the seller won’t work with you regarding concessions and conversely you need to be able to settle on a house that may not be exactly what you want, but where the financing options are favorable.

The bottom line is when you are looking to purchase a house you need to make sure you have a few dollars to put into the transaction. The days of needing to save up 20% are long gone but having closing costs and at least 5% already in the bank will make the home buying process much easier to handle. Always deal with a reputable agent and feel free to contact me for a list of local professionals.

Compliments of:

Tim Barlow

Cornerstone Home Mortgage
www.timloans.com
Tel: (360) 570-0106
Fax: (360) 570-1001
Direct:(360) 250-3400
3604 Henderson Blvd. SE
Olympia WA 98501

Change in the market?

2010-08-23T12:44:00.000-07:00

"There is nothing wrong with change, if it is in the right direction." Winston Churchill. And certainly, seeing our economy improve is change in the right direction. But what steps will get us there... and how will those steps impact home loan rates. Here’s what you need to know.

Last Tuesday, the government held a "Future of Housing Finance" conference to discuss changes needed in this area. Most participants agreed that government assistance for housing must be reduced but not eliminated. Bill Gross, from PIMCO and one of the panelists, called for a massive refinancing of certain mortgages backed by Fannie/Freddie/FHA, believing such a move would lift home prices 5% to 10% and provide a $50 Billion stimulus to the economy. I will be watching this situation closely for further developments.

Home sales and the job market - two key aspects to our continued recovery - are also areas we need to see change in an improving direction. Last week, the NAHB Housing Market Index came in a bit worse than expectations and showed housing to be at a 17-month low. It can be argued that the tax credits actually hurt the housing market by not adding any sales, just pushing them up. This has now resulted in a void or softer period in the market, potentially wasting billions of dollars. Housing Starts and Building Permits were also reported lower than expected last week. Clearly, demand for housing has slowed over the past few months, due to the expiration of the Home Buyer Tax Credit and persistently high unemployment.

Speaking of unemployment, awful is the only way to describe last week’s Initial Jobless Claims report. According to the report, 500,000 people filed to receive unemployment benefits for the first time, which was well higher than the lofty 475,000 expected and the highest reading since November 2009. In addition, between Continuing Claims and people receiving Emergency Unemployment Compensation or EUC, the combined total of people receiving unemployment benefits now equals 9.25 Million people.

The bottom line is this: The labor market is the foundation of our economy. Job growth and confidence is the best and most sustainable way for our economy to recover. The present anti-business regulatory environment is pushing Initial Claims, a leading indicator on the health of the labor market, in the wrong direction.

But home loan rates, meanwhile, continue to remain at historic low levels. Though keep in mind, inflation is the arch enemy of Bonds and home loan rates, which means it can cause both to worsen. Both the Producer Price Index (which measures inflation at the wholesale level) and the Consumer Price Index were recently reported hotter than expected. If rates do start to rise, they will likely do so quickly.

Compliments of:

Michelle Wickett
Branch Manager, NMLS ID 62804
EVERGREEN HOME LOANS
Office: 360-459-1200
Cell: 360-791-0513
Fax: 360-459-1212
E-Mail: mwickett@evergreenhomeloans.net

If you or anyone you know would like to learn more about taking advantage of historically low home loan rates, please don’t hesitate to call or email.

WHEN YOU’RE BUYING A HOUSE, THE LAST THING YOU WANT IS AN UNSUCCESSFUL CLOSING. Call me today and I will help you make a wise real estate decision.

Check out how low rates are! If now isn’t a GREAT time to buy…not sure what can beat it!

2010-08-23T12:41:00.000-07:00

Conv 4.125%

FHA 4.25%

VA 4.25%

Conv 15 yr 3.75%

USDA 4.875%

Jumbo 5.1255

Investment 4.625%

3-4 investment 4.875%

FHA 203K 4.625%

Conv 5/1 arm 2.875%

FHA-VA 5/1 arm 3.25%

Compliments of:

Brandy LeGault

Loan Originator

Ironwood Mortgage

9333 Martin Way E, Ste 210

Lacey, WA 98516

360.280.1467 direct

360.489.1792 fax

BrandyLeGault@comcast.net

www.ironwoodmtg.com

Have you ever had a bad inspection?

2010-08-04T12:30:00.000-07:00

Have you ever had a really bad inspection? The inspector offered only problems. Your clients were frightened. The resulting anxiety caused the deal to fall apart.

Sound Choice Inspections clearly explains findings to clients. With over twenty years of building and construction experience, George Sharrett understands solutions and knows most issues are repairable.

Few homes are perfect - some homes have idiosyncrasies, some have actual problems that need addressing. A potential buyer wants to know the difference. As a skilled inspector, George Sharrett can help them understand the condition of a structure as well as its current and future needs.

Let Sound Choice Inspections educate your next home buyers. They'll be glad you did.

George Sharrett

Owner Sound Choice Inspections

Licensed Washington Home Inspector #226

Distressed Borrower Education Site

2010-08-03T09:22:00.000-07:00

I thought this might be helpful information to share with people that are experiencing financial difficulty.

Fannie Launches Distressed Borrower Education Site
Click here to read the article

Information provided by: Michelle Wickett & Team

Office: 360-459-1200
Toll Free: 877-459-1201
Fax: 360-459-1212 4317 6th Ave SE Suite 202, Lacey, WA 98503
www.mortgagesbymichellewickett.com
mwickett@evergreenhomeloans.com

2010-07-24T11:45:00.000-07:00

JUST LISTED!!

You'll find it all here on this 7+ acre homestead! The home features 2646SF, 4 BR, den, 2.5 BA, double sided fireplace, large open kitchen, a family and living room. Detached dwelling unit is about 600SF w/ pergo flooring - perfect as mother-in-law room or hobby room. Gigantic 4 bay shop (large enough for RV) is a whopping 2400SF, w/ finished home office and game room w/ 1/2 bath. Imagine the possibilities! The property is flat and sits off a dead-end road. Come see it - you'll be glad you did!

Retail Sales Affecting Home Interest Rates?

2010-07-12T11:59:00.000-07:00

It is interesting to follow the market each week. I like to see how each economic indicator affects the other. I thought I would add some information about the retail market since The Nordstrom Anniversary Sale starts this Friday (which I always love!). I thought it would be appropriate.

Retail sales are down 0.3% for this week. This is an important measure in consumer demand. Weaknesses could lead to lower interest rates for home mortgages.

Retail sales data is the first indication of weakness or strength in consumer spending released each month. The Bureau of the Census of the US Department of Commerce provides information on how much the consumer spends on the purchase of goods. This data provides the consumption part of the gross domestic product. Retail sales data represents merchandise sold for cash or credit by retailers. Durable goods, such as autos, make up 35% of the figure. The balance consists of non-durables such as gasoline, restaurants, and general merchandise.
Thank you Brandy LeGault, with Ironwood Mortgage for sending these updates every week!

You're Invited!

2010-07-05T10:15:00.000-07:00

City Realty's Anniversary Party!

Each year I take the time to reflect on my real estate business and each year I want to thank the people who keep me going! Your business and referrals has helped my business flourish the past six years.

In appreciation of your friendship, trust and support; I would like to celebrate you! Please join me at my office for a Luau BBQ. There will be food, drinks, door prizes and a special gift for all clients that attend.. .

July 9, 2010

12:00 - 3:00 pm

City Realty Inc.

1800 Cooper Point Rd SW Bldg. 12

Olympia, WA 98502

. . . . . . . . . . . . . . . . . . . . . . . .

For more information please call or email me.

I look forward to seeing you!

Happy 4th of July

2010-07-05T09:49:00.000-07:00

I was talking to my two year old yesterday trying to explain to him what the fourth of July is. My little guy takes everything so literally, so I tried to carefully describe why we celebrate the fourth. After a short conversation of fireworks, freedom, and flags, I just concluded that it's America's birthday. Can you say, "Happy Birthday America!" That seemed to do the trick.

Reflecting on this conversation I wanted to write a few words about what the fourth of July means to me. As an American I am so thankful to have the rights that I do. Especially in my work. Being a working mom is hard - but I am very thankful that I can work and that I can choose my work. I am thankful to live in a country that values my work too! Especially during hard economic times, a lot of what I do is helping keep homeowners rights. It is a difficult economy to work in but I would like to think that I am doing my part in making our housing market a better place.

My business is something that I not only enjoy but that helps me provide for my family. As Americans we celebrate our Independence by taking the day off and spending time with our loved ones. What a great way to celebrate summer.

I hope as my son gets older that I can tell him more about his freedoms and rights as he gets closer to entering the workforce. In the mean time, we'll celebrate America's birthday with pop its and hot dogs.

Happy summer to everyone and enjoy the HOT weather this week!

Bankruptcy During a Short Sale?

2010-06-25T16:27:00.000-07:00

THE IMPACT OF BANKRUPTCY ON A SHORT SALE
Sellers of real estate in distress often look to bankruptcy as a solution to their overall financial problems. Bankruptcy is a constitutional right and can in some instances, be an appropriate remedy. It is beyond the scope of this short article, however, to replace the quality consultation with one of our qualified attorneys.

BANKRUPTCIES AND SHORT SALES DON'T MIX
When one files for bankruptcy, strange things automatically happen by operation of federal law. The seller no longer owns their home or any other asset not exempted by the Federal Bankruptcy Rules. Title to their home automatically transfers to the Bankruptcy Trustee who is administering the seller's bankruptcy case. This is called the "Stay of Bankruptcy." No one (not even the seller's lender) can continue to try to collect payments from your seller or even start or continue foreclosure proceedings unless such action is approved by the Bankruptcy Court. Every collection effort stops upon the filing for bankruptcy protection.

CHAPTER 7 AND CHAPTER 13 BANKRUPTCIES ARE MOST COMMON
A Chapter 7 bankruptcy is a liquidation and is utilized when a debtor is so insolvent (meaning that the debts owed are so much greater than what is owned) that the court oversees a liquidation and gives, in most cases, a discharge of most debts allowing a debtor a "fresh start." A Chapter 13 bankruptcy is a personal financial reorganization with the court overseeing the overall "Plan" for as long as three to five years. Commonly referred to as a "Wage Earner Plan," it anticipates to a great degree repayment of some or all of the debts over time. Most debtors, presently in financial distress, find that a Chapter 7 bankruptcy is most advantageous to them in our current recessionary marketplace.

NO ACTION FOR SHORT SALES WHILE BANKRUPTCY IS IN EFFECT
It is unlawful for any lender to do anything to foreclose or collect on a debt due them while your sellers are under the Bankruptcy Court's protection. In fact, in most cases, their lender administers the case in a special "Bankruptcy Administration Department" within their organization. In addition, no lender can legally negotiate a short sale during a bankruptcy without court approval. Most courts don't even entertain such proposals. Most lenders wait for the Bankruptcy Court to terminate or complete a bankruptcy before starting or resuming short sale negotiations or the continuation of foreclosure for that matter.

WHEN TO DO A SHORT SALE
If your seller is planning on filing for bankruptcy, please consult a qualified bankruptcy attorney before they list or enter into a sale of their property. Planning is an important aspect of their decision-making process as regards bankruptcy. Our attorneys can assist them in the decision-making process. Their decision to do a short sale should be designed to complement your activities, and if not done properly, can result in a lot of wasted effort of many real estate professionals involved.

LISTING THEIR PROPERTY BEFORE A BANKRUPTCY
In our practice, we encounter on a continuing basis severe hardships, frustrations and loss of energy in transactions wherein a seller either seeks to sell their property and then files for bankruptcy or is already in bankruptcy when they enter into a listing agreement to sell or an actual purchase and sale agreement for the sale of their property.

TIPS FOR BANKRUPTCY MATTERS
Seek competent bankruptcy attorney help. You can meet with one of our attorneys or we are happy to recommend local competent bankruptcy attorneys who can assist your seller in their decision. If your seller is in bankruptcy, please advise our office immediately, as special actions need to be taken as regards a short sale. Don't assume that bankruptcy is your seller's only solution. Because Washington has many rules assisting borrowers in foreclosure, a successful short sale may be an alternative. Even though your seller may be discharged in bankruptcy, it can take as long as a month or two before such actions will "register" within the department that handles such matters at your seller's loan servicing company. This can greatly lengthen the time of negotiating your seller's short sale. If in doubt, always call our office as we are happy to answer questions you may have on bankruptcy matters and other matters regarding short sales.

A BANKRUPTCY FILING BY SELLER DURING SHORT SALE NEGOTIATIONS IS GENERALLY DEATH TO A SHORT SALE CALL US ON THE RADIO For more information on distressed property matters, please tune in to Real Estate Legal Line on Freedom 570 KVI Sundays at 10 AM. You can call Ed McFerran on the air between 10 am and 11 am at 1-206-421-5757, or toll free at 1-888-312-5757. McFERRAN, BURNS & STOVALL, P.S. Short Sale Negotiations 1-253-284-3838 http://www.mbs-law.com/ (law matters) http://www.mbs-shortsales.com/ (short sales) http://www.mbs-loanmods.com/ (mortgage loan modifications)

The Fed is Talking, but Will They Act?

2010-06-14T10:33:00.000-07:00

This was a good article sent to me from Christina Daniels at Olympic Lending. Good stuff! Check it out!

If the Fed raises the Fed Funds Rate too soon, it could slow economic activity and cause a "double dip" recession. However, if the Fed waits too long to raise the Fed Funds Rate, inflation could result...and inflation concerns were a big reason for all the Fed chatter last week. Remember, inflation is the arch enemy of Bonds and home loan rates.

With mounting debt in the US and concerns that US debt will overtake GDP by 2012 - as well as the problems in Europe - there are many factors the Fed needs to consider before taking action. For instance, last week Fed Chairman Ben Bernanke said that the Unemployment Rate is likely to remain high for a while and he noted that the Fed "can't wait until unemployment is where we'd like it to be" before tightening credit, or inflation could too easily get out of control. That said, recent reports like May's Jobs Report and Retail Sales Report - which showed the first monthly decline since September 2009 - indicate that our economic recovery is still fragile at the moment. This means the Fed won't want to act too quickly, either.

The next Fed Meeting is June 22-23rd, and while the Fed will most likely not raise the Fed Funds Rate at this time, more and more Fed members are expressing concerns about the current very accommodative monetary policy in place. Although home loan rates are not tied to the Fed Funds Rate, I'll be watching this situation very carefully as it continues to unfold.
In addition, Bonds and home loan rates have benefitted lately from the situation in Europe, as global investors have sought the safe haven of our US Bonds. However, as the Euro's freefall is finally showing some signs of stabilization, traders and investors can be very fickle in unwinding or reversing these trades pretty quickly. This could reverse the improvement we've seen in home loan rates, and we saw a sign of that last week. Bonds and home loan rates ended the week a bit off their best levels of the week...but are still incredibly low overall.

For Rent in Lacey - $1300/mo

2010-04-19T19:29:00.001-07:00

This home is a just like new, spacious two-story home featuring 3 br, 2.5 baths and 1276 square feet. Fenced back yard, two car garage, and laundry room inside home. All appliances included! New carpet and new paint. The community has a clubhouse, pool, and park. The home is close to I5, Ft Lewis, shopping and much more! First and last months rent plus $300 damage deposit. 6112 Huntington Lane SE, Lacey WA 98503. Call for an application.

Visit http://www.jessicachase.org/ or call for more information.

Rummage Sale

2010-04-01T08:35:00.001-07:00

Here is a great way to get rid of the things you don't need and pick up some great, gently-used items...

Friday, April 16, 8:30 am -4pm
Saturday, April17 8:30 - 3pm

Donations for the sale can be brought to the church beginning Tuesday, April 13.
The proceeds from the sale benefit our youth.

Contact me if you would like more information! chasejessica@comcast.net or 360-870-0619.

Easter Egg Hunt

2010-04-01T08:28:00.000-07:00

Easter Egg Hunts are one of the best things about Easter - to a kid especially! So I want to share with you information on an Easter Egg Hunt at my church this Sunday.

River Ridge Covenant Church
www.riverridgecovenantchurch.org
7945 Steilacoom Road Southeast
Olympia, WA 98503-1936
(360) 923-1569

The services are 9 am and 11 am and the egg hunt is right in between. I would imagine it's around 10:15 am or so. Bring your Easter basket!

There will also be lots of goodies and a kids movie playing. I hope to see you there.

Best Places to Buy

2010-03-30T08:36:00.000-07:00

Money Magazine has released its latest home-price projections for the country’s largest metropolitan areas. Here are the 10 cities where it believes home prices will rise the most in the next year, and the 10 where it foresees the most substantial declines:

Where prices will rise:
• Santa Rosa, Calif., 6.0 percent
• Cheyenne, Wyo., 4.7 percent
• Kennewick, Wash., 4.6 percent
• Merced, Calif., 4.4 percent
• Bremerton, Wash., 4.2 percent
• Fairbanks, Alaska, 4.2 percent
• Corvallis, Ore., 4.1 percent
• Tacoma, Wash., 3.9 percent
• Anchorage, Alaska, 3.8 percent
• Bend, Ore., 3.3 percent

Where prices will decline:
• Miami, -22.5 percent
• Fort Lauderdale, Fla., -21.3 percent
• West Palm Beach, Fla., -18.5 percent
• Phoenix, -18.5 percent
• Las Vegas, -15.4 percent
• Tampa, -13.8 percent
• Pensacola, Fla., -13.6 percent
• Gainesville, Fla., -13.4 percent
• Suffolk, N.Y., -13.4 percent
• New York City, -12.9 percent

Source: Money Magazine (03/20/2010)

First Time Homebuyer Tax Credit: Time is running out!

2010-03-16T19:07:00.000-07:00

If you are thinking of purchasing a home for the first time the time couldn't be better! The government is offering a $8,000 tax credit. But time is running out! You only have until April 30, 2010. Click HERE to read more about this.

Call or email me today to get more details on how to take advantage of this GREAT opportunity.

chasejessica@comcast.net or 360-870-0619

Just Reduced!: 4419 Covey St SE, Olympia, WA 98501 for $229,900

2009-10-02T11:52:00.001-07:00

Click Here For More Information!

Just listed: 4419 Covey St SE, Olympia, WA 98501 for $229,900

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Just listed: 1122 36th Ave NE, Olympia, WA 98506 for $499,900

2009-10-01T12:55:00.001-07:00

Click Here For More Information!

Just listed: 1122 36th Ave NE, Olympia, WA 98506 for $499,900

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Price Just Reduced to $114,900! 1379 Sussex Ave E, Tenino, WA 98589

2009-09-15T11:48:00.001-07:00

Just listed: 1379 Sussex Ave E, Tenino, WA 98589 for $114,900
Click here for more info!
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Just listed: 7734 13th Ave, Lacey, WA 98516 for $188,000

2009-09-11T20:08:00.001-07:00

Just listed: 7734 13th Ave, Lacey, WA 98516 for $188,000
Click here for more info!
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Just listed: 3141 Carpenter Hills Loop, Lacey, WA 98503 for $224,900

2009-09-08T10:28:00.001-07:00

Just listed: 3141 Carpenter Hills Loop, Lacey, WA 98503 for $224,900
Click here for more info!
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Just listed: 4419 4419 Covey St SE, Olympia, WA 98501 for $259,900

2009-09-08T10:27:00.001-07:00

Just listed: 4419 4419 Covey St SE, Olympia, WA 98501 for $259,900
Click here for more info!
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Just listed: 4419 4419 Covey St SE, Olympia, WA 98501 for $259,900

2009-09-04T11:18:00.001-07:00

Just listed: 4419 4419 Covey St SE, Olympia, WA 98501 for $259,900

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Just listed: 5009 71st Avenue Southeast, Lacey, WA 98513 for $284,900

2009-08-17T10:42:00.001-07:00

Just listed: 5009 71st Avenue Southeast, Lacey, WA 98513 for $264,900
Click here for more info!
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Just Reduced! 7708 Mesplay Ave SE

2009-07-07T19:16:00.000-07:00

Comfortable and Charming!

$199,900

MLS#29024770

Welcome home to this comfortable and charming 3 br, 2.25 bath home featuring 1370 square feet. Recently remodeled, this home has a new roof in 2007, new interior paint, new vinyl windows, new carpet, new tile and laminate, updated bathrooms and much, much more! Featuring a living room and family room with wood stove, this functional floor plan is just what you need. Large master suite. Fully fenced backyard. Home sits at the end of a dead end street and is close to the freeway, shopping, and schools. This home is a perfect starter! Come see, come sigh!

Post comment here to request for information:

For Sale: 1221 SE Fireweed Rd

2009-05-22T10:21:00.000-07:00

1221 SE Fireweed Rd

$219,900

Brand New! Never Lived in! This Adair home has a very peaceful setting – down a quiet road and on a large 1.54 acre lot. This sought after, one-story home features 1920 square feet, 4 bedrooms, and 2 baths. The yard is a blank canvas and ready for you to make it your own. 2 car garage.

For Rent! 6112 Huntington Lane SE

2009-05-22T10:16:00.000-07:00

6112 Huntington Lane SE
$1,200/month

This home is a just like new, spacious two-story home featuring 3 br, 2.5 baths and 1276 square feet. Fenced back yard, two car garage, and laundry room inside home. All appliances included! New carpet and new paint. The community has a clubhouse, pool, and park. The home is close to I5, Ft Lewis, shopping and much more! First and last months rent plus $300 damage deposit. 6112 Huntington Lane SE, Lacey WA 98503. Call for an application.

Tax Credit Ineligible for Down Payment

2009-05-22T10:14:00.001-07:00

Feds reverse rule to assist first-time home buyers.

Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.
Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers.
However, not everyone was in favor of using the tax credit as collateral on a down-payment loan.
"That tax credit should be savings, not debt," said Patricia Garcia-Duarte, executive director of Neighborhood Housing Services in Phoenix.
Garcia-Duarte said the proposal too closely resembled a now-illegal practice known as seller-funded down-payment assistance, which allowed a home's seller to "gift" the down payment to a specific buyer through a non-profit organization.
Phoenix loan originator Dean Wegner was among the housing-industry professionals who had expressed enthusiasm about the bridge-loan plan.
Wegner said the program would have boosted local home sales, but he added that the bridge loans likely would have come with a high interest rate.
The loans also could have created income-tax issues, according to the IRS officials who shot down HUD's plan.
Still, Wegner remains optimistic that the government will seek other means to circumvent the FHA's required 3.5 percent down payment.
"They will probably come out with a zero-down FHA loan starting January 1, once the $8,000 goes away," he said.

May. 19, 2009 12:00 AM
The Arizona Republic

Oprah's Going Green Show

2009-04-23T09:00:00.000-07:00

I like to tivo a lot of shows during the day to see if there are any good topics worth watching. Yesterday was Earth Day and Oprah did her show on going green. It was very insightful and I wanted to share some of the information about making your home a "Green House." You may also read the full article by clicking here.
1. Use LED or compact flouresent light bulbs
2. Use a programmable thermostat
3. Weather strip your windows and doors
4. Use drapes to heat and cool your home
5. Switch to an LCD TV - the smaller the better
6. Use a smart power strip
7. Put a water Aerator on your faucet
8. Use an at home water filtration system instead of buying water bottles
9. Use Energy Star appliances
10. Use reusable cloth dishtowels instead of paper towels
11. Make your own cleaning supplies
12. Insulate your water heater

Going Green Resources

Use these websites, organizations and books to start making a difference in our environment.

Money-Saving Offers

Get coupons for Whole Foods, MySigg.com and To-GoWare.com

Saving Our Oceans
FabienCousteau.org
Ocean Conservancy
National Oceanic and Atmospheric Administration
Algalita Marine Research Foundation
A Pocket Guide to Sustainable Seafood

Green Cleaning Recipes
Window cleaner
All-purpose spray
Veggie cleaner spray

Federal Tax Credits

Learn more at EnergyStar.gov

Eco-Friendly Products
Snack Taxi
Built
Sigg
To-Go Ware
BioBag
Terracycle

Books
In Defense of Food by Michael Pollan
The Omnivore's Dilemma by Michael Pollan

More from the Show
Recycle for cash at RecycleBank.com
Simran Sethi's website is SimranSethi.com
Where you can recycle your old items

A Plan to Get Things Moving!

2009-04-17T10:00:00.000-07:00

It is with great joy that we inform you that last night, the Senate Ways and Means Committee unanimously adopted our amendment to the state budget authorizing the State Treasurer to invest $25 million in a short-term loan program in order to provide an advance payment of the federal first-time home buyers' tax credit, allowing potential home buyers to utilize the tax credit as down payment when closing the sale of their first home.

The 2009 Economic Recovery and Revitalization Act included a "refundable" tax credit worth up to 10% of the home purchase price with a maximum of $8,000 for taxpayers who purchase a home between January 1 and November 30, 2009. There is a demand from first-time home buyers - responsible people with jobs, good credit, and the ability to make the monthly mortgage payment. However, many of these potential home buyers still need down payment assistance and they can't get the $8,000 until after the sale is closed. Lack of down payment is the only barrier to home ownership for up to 50 percent of qualified first time home buyers. The Washington State Treasurer's Office, Housing Finance Commission and Washington REALTORS® are proposing a Tax Credit Advance Loan program that would advance the $8,000 tax credit at closing of a home sale and be repaid when the credit is received by the IRS. Now more than ever, housing choices are critical not only to our families and children but also to reviving the economy. Washington's economic health depends on a healthy, vibrant housing market, which accounts for 24% of the state's employment and a significant portion of state tax revenues in sales, property, business and occupation and real estate excise taxes. This effort to amend the state budget to include the budget proviso was made possible through no small amount of effort with plenty of credit to go around. Certainly, the leadership of State Treasurer Jim McIntire and Sen. Steve Hobbs played a key role as champions in the Senate to adopt the amendment. And the solid efforts of our coalition partners, expert lobbying team and key individuals made the difference. To be clear, while this is a critical victory, it is only one important step in the process of adopting the state budget. The budget, with this proviso authorizing the advance loan program, must be adopted by the full Senate and House, and signed by the Governor before it becomes effective. We will keep you posted as further activity on the budget occurs. Following, please find a link to a editorial from the Everett Herald urging the Legislature to adopt this common-sense approach to reviving the housing market. A plan to get things moving: WEDNESDAY, APRIL 15, 2009

9:06 pm http://www.heraldnet.com/article/20090415/OPINION01/704159932#

Special Tax Break Available for New Car Purchases This Year

2009-04-06T08:32:00.001-07:00

The IRS has released IR 2009-30 to remind taxpayers of a temporary tax incentive that will be available to them for the purchase of a new car, light truck, motor home or motorcycle during 2009. The deduction is available for the cost of all state and local sales and excise taxes paid on up to $49,500 of the purchase price. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers. The vehicle must be purchased after Feb. 16, 2009, and before Jan. 1, 2010, to qualify for the deduction. The special deduction is available regardless of whether a taxpayer itemizes deductions on their return. The IRS reminded taxpayers the deduction may not be taken on 2008 tax returns.

Bizpack

2009-04-04T19:11:00.000-07:00

I just found a great new service, that you will love, and I wanted to get this to you before time ran out on this special deal!It’s called BizPack™ and I call it a “Business in a Box” because it allows anyone to market ANY business with the latest high tech tools such as an INTEGRATED program featuring client tracking software, auto responders, drip email, videos, and MUCH more. How competitive IS your business? Do you communicate with clients often enough?

Could you increase referrals and sales if you did? Wouldn’t it be great to put your prospecting and marketing on “auto-pilot?”This program also has a completely NEW tool... Nothing like it out there on the market! It is called “Udeduct™” ..a program to help you KEEP more of your money, and increase your cash flow through identifying, quantifying and tracking potential business tax deductions. Could you increase your NET WORTH by thousands withOUT making more money... Just better tracking your tax deductions? Very possibly! Do you have software tools you only use 30% of because they didn’t come with enough training? Not with this... You’ll have UNLIMITED free training on both the technical aspects of the program AND the “soft side” ..sales and marketing webinars by successful professionals to help you GROW your business.

With this... You might be in business FOR yourself... But never BY yourself!Don’t HAVE a business? You do NOW!! The best thing about BizPack is that it IS a business all unto itself and right now, IF you take action... There is NO “agent fee” ever for this business. A business with no “overhead?” Wow!TRUST ME... Just sign up for this THEN watch the video on the site.

Right now... You can lock in the opportunity to save the $170 activation fee... AND the $50 Agent fee by PRE-REGISTERING (deadline is April 4th @ Midnight MST). There is NO obligation – when the program goes “live” April 6th @ 8 am MST – if you love it as much as I think you will... You just saved yourself $170-$220. If not... No harm, no foul... No obligation.

It’s a “no-brainer” - so “just do it” and stick in your name and email to get on the “VIP list.”

You’ll get a “free business” regardless so... When you get your web site address (2 minutes)... Turn around and starting calling everyone YOU know... And send this out to them!

Remember.. $23 a month (or more) per client... Per month.. For YOU if you choose!

Do it now... Time is running out!

>> http://www.MyBizPack.com/jessicachase ...Video on the site with more information – very exciting!

7505 Rainier Rd SE

2009-02-19T20:37:00.000-08:00

Lots of PERKS!

$199,900

MLS#29021855

Close to town perks but the privacy of living in the country, this adorable custom home sits on nearly 1 acre. With 3 bedrooms, 2 baths, 1440 square feet, this home features 2 newly renovated bathrooms with custom tile work, top of the line fixtures, and exquisite details. The work of a perfectionist! You’ll love the craftsman woodwork throughout the home, the eat in kitchen and large living room with wood stove. All appliances stay! The exterior features lots of parking space, a fire pit, outbuildings and grassy areas for springtime fun. New electrical, new cadet heaters, newly textured walls…need I say more?

Post comment here to request more information:

5121 Keating Rd. NW Olympia, WA 98502

2009-02-19T11:58:00.000-08:00

JUST REDUCED! $200,000

Over 3 Acres with Saltwater View!

$200,000

MLS#28165252

3.41 acres on Steamboat Island! A well and septic will make this property the perfect building site for your dream home!

Post comment here for more info:

Economic Stimulus Package

2009-02-17T13:02:00.000-08:00

Check out the latest update on the stimulus package from the president of Realtors point of view:

Here's our take on the Stimulis Bill and Treasury announcements made this week. We look at the Stimulis package AND the Treasury's package holistically, in compliment with each other - mostly because that's how the Obama team is looking at it. Your representatives, the NAR Board of Directors, asked us in November to do 4 things (with an unspoken but clearly understood mandate to PRESERVE what we already have). Here they are: 1) get loan limits raised for high cost areas, 2) make the $7,500 tax credit NOT a loan, 3) try to find ways to push interest rates down (which are higher than they should be due to systemic risk right now) by 200 basis points, and 4) help provide solutions to the foreclosure/short sale problem.So here's what we have achieved: 1) the loan limits will be raised to $727,000 in high cost areas, 2) the tax credit will be raised to $8,000 with NO payback [a true credit], 3) interest rates have come down 125-150 basis points, and 4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES's thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10. In addition, we preserved what we have - which some tend to forget is always on the table when these negotiations start up again - mortgage interest deductability, real estate tax deductability, and the $250,000/$500,000 cap gains exclusion (an overall package worth more than $100 billion and for some a very attractive funding source for their pet projects). We did make a run at the $15,000 credit -- and we would have loved to have gotten that or the Homebuilders $22,000 credit idea as well as their 5 year loss carryback deal, but they were considered too rich for this program. What it did do though is totally take the debate off of whether a tax credit should be reinstated at all (it expired last year) and whether it was a true credit or a repayable loan, and kept the conversation on how much it should be. It also kept the debate off of 'what we are willing to give up to get a $15,000 tax credit' and kept the debate again, on how much it should be. It's pretty hard to complain when they give you what you ask for and you lose something you never had. While we study the Treasury specifics on their major role in providing the rest of the housing solution -- there is much more to come and we are working diligently with the Administration to help 'unclog the pipeline' and get capital flowing into housing again.

This Week in Review

2009-01-12T12:13:00.000-08:00

"HAVE THE NERVE TO GO INTO UNEXPLORED TERRITORY." Alan Alda. Taking those words to heart, Bonds and home loan rates did exactly that last week, reaching historic levels.
A few important news items from last week... First, the results are in on the Fed's first run at purchasing Mortgage Backed Securities under their new $500 Billion buying program. Over the last week, the Fed bought $10.2 Billion of Mortgage Backed Securities. Any time there is increased buying demand - for anything - prices will move higher. When Bond prices move higher, home loan rates improve.

Next, Stocks faced selling pressure last week due to a rash of earnings warnings from the nation's retailers, including Macy's, who announced they are closing eleven stores. Because money coming out of Stocks is often parked over into the Bond market, Bonds and home loan rates responded by reaching never-before-seen levels.

Finally, the job market reached a level not seen since 1945. The Labor Department reported on Friday that there were 524,000 jobs lost during the month of December.

All told, there were 2,600,000 jobs lost in 2008, which represents the biggest job loss in any calendar year since 1945, when 2,750,000 jobs were lost as the wartime economy was demobilized. But we must consider that there are a lot more people in the US today. Adding further sting to the report was the Unemployment Rate, which shot up higher than expectations to 7.2%, the highest reading in 16 years.

As we know...Bonds and home loan rates typically improve on negative economic news, since money will flow out of Stocks and into Bonds when bad news hits the wires. But keep in mind, these are volatile times - and it's hard to know how long the good times will last for home loan rates. Regardless of if you see a move or a refinance in your future, let's review your situation to determine if any decisions need to be made at this time.

How Ready Are You for 2009?

Now that the holidays are over and a new year has begun, now is the perfect time to make sure you are ready for 2009. Here are five things you should do this month that will make your life easier in the months ahead:

1. Clean Out the Clutter: You keep saying you'll do it...go ahead and do it. Spend an hour going through your old files, and shred those receipts, bills, and statements you no longer need, like old ATM receipts and utility bills, paystubs more than a year old, and receipts for things that are not deductible.

2. Get Organized: While you're at it, create new files for your 2009 tax-related papers and receipts. Examples of categories include medical expenses, gift and charitable donations, and home improvements.

3. Check the Gift Card Fine Print: If you received gift cards as a present over the holidays, use them soon. Some have expiration dates, or the amount on the card may get reduced over time. In addition, in the current economy, retailers that go out of business may not honor gift cards.

4. Do Some Review: Review your various insurance policies - life, home, auto, etc - to make sure the coverage you have is still the best fit for your needs and situation. To save on cash out of pocket, you might even consider raising your deductible to get a lower premium.

5. Do Some Reflection: Take an honest look at your schedule and responsibilities and make sure you are taking the time you need to stay healthy and feel good. Don't feel bad about actually scheduling specific blocks of time to exercise or spend special time with family and friends, to ensure it actually happens. This will make everything else you have to do this year easier...and more enjoyable, too!

Weekly Review

2009-01-05T09:40:00.000-08:00

Last Week in Review

"AN OPTIMIST STAYS UP UNTIL MIDNIGHT TO SEE THE NEW YEAR IN. A PESSIMIST STAYS UP TO MAKE SURE THE OLD YEAR LEAVES." Bill Vaughan. 2008 turned out to be a historic year on many counts, and optimists and pessimists alike were glad to close the books and say goodbye to the old year. In observance of the New Year's holiday, the Bond market closed early last Wednesday and was closed all day Thursday, but there was still plenty of time for volatility due to several noteworthy news items. With a great deal of midweek activity, Bond pricing ended the week slightly worse with home loan rates about .125% higher than where they began.
Early last week, a renewal of military conflict between Hamas in Palestinian Gaza and Israel sent crude oil jumping higher on concerns of supply disruption, causing volatile activity in both Stocks and Bonds. The strife in the region continues, and may cause more movement in the financial markets over the coming weeks.
GMAC received a $6 Billion lifeline from the Treasury to help stave off a bankruptcy protection filing or complete shutdown. This would have spelled big trouble for GM, as GMAC helps to finance purchases of most GM vehicles. This assistance is part of a larger effort to help aid the troubled auto industry, and GMAC announced that they will immediately resume financing to a wider range of car buyers. Stocks moved higher on the good news, which pulled a bit of money out of Bonds and caused home loan rates to rise.
NOTE: Stocks have made some nice moves higher of late, breaking above a key line in the sand at their own 50-day Moving Average. And with a great deal of cash on the sidelines waiting to be put back to work, as well as retirement money getting ready to be invested before tax time, this could spell better days ahead for Stocks. While money flowing into Stocks can sometimes pull money from Bonds and cause home loan rates to rise, the Fed has said they will be doing some buying of Mortgage Bonds, which could help home loan rates weather the storm much better than they have in the past.
In economic report news, the Chicago Purchasing Managers Index - which measures manufacturing activity - came in at 34.1, very close to estimates of 33.0. But Consumer Confidence somewhat unsurprisingly missed advance expectations of 45.5, arriving at a dismal, record low of 38.0. Just by way of perspective, last year at this time, Consumer Confidence was at 88.6...so there's been quite a decline during 2008.
Also adding to the movement in the markets last week, the Securities and Exchange Commission recommended against suspending FASB 157, otherwise known as fair-value accounting rules or "mark to market". These rules led to the failure of many financial institutions that really weren't in bad shape, but simply made them appear to be overleveraged as they were forced to value their assets against distressed institutions selling at steep discounts. This announcement was not a surprise, as it wasn't expected that they would completely eliminate the rule and go back to the days of Enron-style accounting and valuation systems which lacked transparency. For now, the SEC is instead suggesting "improvements" to deal with illiquid markets and reducing the number of models used to measure impaired assets...but the details of those "improvements" are yet unknown.
Rest assured that as 2009 kicks into full gear, I will be watching closely and keeping you updated as to all the latest financial news stories, market action, and home loan rate developments. Because windows of opportunity can be fleeting, please call me to look over your own financial situation so that we are ready to act on your behalf.

Forecast for the Week

As the first full trading week in the New Year begins, more important news is coming as we look forward to Friday's Jobs Report, which will show the number of jobs lost or gained in December. Remember that the Department of Labor averages their numbers, and part of each month's report includes "revisions" to the several prior months' numbers.
The employment news last month was record-breaking: 533,000 jobs were lost during the month of November, which represented the most job losses the US has seen in 35 years. Additionally, November was only the fourth time in 58 years that our economy lost over 500,000 jobs. And adding more pain to last month's Report were heavy downward revisions for September and October, which erased an additional 199,000 jobs.
I'll be watching closely to see how Bonds and home loan rates respond to the Report...and all the other news this coming week is sure to have in store! Again, I encourage you to get in touch with me to review your own home loan scenario. We can determine together if it makes sense to consider acting on the low home loan rates currently available.

6837 Sierra Dr.SE, Lacey, WA 98503

2009-01-02T15:29:00.000-08:00

NEW PRICE! $164,900

Opportunity Knocks!

$164,900

Split level home located a stones throw from Long Lake. With a little TLC this could be perfect for a rental or investment property. Includes spacious yard with shed in the back as well as private beach access. House needs A LOT of work! Great opportunity for sweat equity! Sale subject to bank approval - short sale.

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2213 Golf Club Rd.SE Lacey,WA

2008-12-10T13:36:00.000-08:00

Nicely priced nugget!

$179,000

This 3 BR, 1 BA is priced to sell. With just over 1000 sq ft and a large .23 acre lot, you’ll find everything you need. Updated gas-forced air heating that has been serviced 3 times per year. 1 car-finished garage with work bench and cabinets. Large grassy back yard with play set, shed and covered patio. Could be room for RV parking too! Wood burning stove, eat-in kitchen, and whole house is wheel chair accessible. Great storage! Washer, dryer and fridge stay!

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4220 Armstrong Ave SE

2008-11-07T16:17:00.001-08:00

PreForeclosure Opportunity!

$249,900

This 4 BR, 2 BA, 1864 sq ft home with an additional 596 unfinished sq ft in the basement is an excellent opportunity for equity and growth! Close to Olympia HS, I5, Hwy 101, Yelm Hwy, shopping and much more! This home needs some clean up but has beautiful newer cabinetry in the kitchen and hardwood flooring throughout the main floor. Formal dining and living room. The master is large with cathedral ceilings, walk in closet and full bath. The basement has a separate entrance that would be great for a home office – just needs to be finished. The back yard is fully fenced and has a great layout with basketball court, deck and small gazebo – just needs some TLC. 2 car carport and shed.

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3404 26th Ave NE

2008-10-28T07:55:00.000-07:00

Amazing Investment Opportunity!

Great house close to town. 3 bedroom and 2 bath and 922 square feet. Great for rental or to live in. Large front and back yard - .27 acres total. Home features hardwood floors, vaulted ceilings, hardi-plank siding. House needs work and TLC but the house is at a great price!

$165,000

MLS#28177390

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Foreclosures: How to Buy Them

2008-10-21T11:11:00.000-07:00

In the past, some of the most successful business people's investment careers took off when the economy was in "financial crisis." They took advantage of stocks and real estate when it was on sale. The wealthiest people in the world ALL have real estate in their portfolios. They have learned how to use their assets to buy other assets and making their money work for them.

Foreclosures are a great opportunity for investors because now more than ever is the time to invest in real estate. But there is a strategy to it. You must have a plan that includes a starting point and an ending point but most of all action steps in between. Are you interested in learning how to buy a foreclosure and get your money to start working for you?

Join me at a FREE class

Tuesday, October 21, 2008 at 4:30 pm

"How to Evaluate and Buy Foreclosure Properties with Confidence!"

Speaker: Cambria Miller

Location: RE/MAX Four Seasons

3009 Pacific Ave Ste 200

Olympia WA 98501

Bail Out Bond

2008-10-20T11:42:00.000-07:00

"I'm always making a comeback but nobody ever tells me where I've been." Billie Holiday. Making a comeback was exactly what Bonds and home loan rates attempted last week, after approaching some of their worst levels this year.
While the Bond market was closed last Monday in Observance of Columbus Day, the early part of the week wasn't short of market-impacting news. On Tuesday, the Bush Administration, including Treasury Secretary Henry Paulson, Federal Chairman Ben Bernanke, and FDIC Chairman Sheila Bair announced a plan to use $250 billion of the $700 billion financial rescue bill recently passed by Congress to buy directly into American banks. The government will begin by buying stock in nine of the largest banks including Bank of America, JPMorgan Chase, and Citigroup.

Why did the government do this? Because the financial crisis is due to over-leverage...that means the ratio of outstanding loans to capital is too high. If left unchecked, this can lead to the failure of institutions. And it has already taken a great toll. The only way to repair this is by reducing the leverage ratio, or "de-leveraging". That means sell off loans or increase capital. The Fed's plan helps this on both sides as they can be a buyer of some loans as well as an investor in some banks.

Another result of the current financial crisis is that economic reports are taking a back seat to market dynamics in ways that have never been seen before. In the past, fund managers or institutional traders would typically contemplate which direction would best favor the market, and position their portfolio in Stocks if the outlook was favorable, or Bonds if the outlook was cloudy. So we have come to expect Bond prices to move in the opposite direction from Stock prices much of the time, as money flows out of one and into the other. But the pressure to "de-leverage" has all but removed the thought process, and forced selling of all types of securities to raise capital. And while this situation should stabilize and return to normal (which we saw some evidence of on Friday as Stocks and Bonds alternated going up and down), it is one I will continue to monitor as the weeks and months progress.

And after all the ups and downs of the week, Bonds and home loan rates did manage a comeback, ending the week a bit better than where they began.

(The Mortgage Guide - Lezley Laurel)

Money Wise Women

2008-10-18T11:49:00.000-07:00

I had the pleasure of attending the Money Wise Women conference this weekend. This was an excellent tool for me personally and professionally. I can use this information in my personal life but most importantly I can share it with my investors and clients to help them maximize their financial independence.

Marcia Brixey, author of The Money Therapist, share five strategies to live financially healthy:
1) Get in touch with your financial situation.
2) Get out of debt.
3) Get clear about credit reports.
4) Invest automatically and regularly.
5) Determine your goals.

Number 3 is very important with my line of work. It is difficult and almost impossible to do any sort of investing in real estate if you don't have a good credit score. I have information on how to raise your credit score by 50 points in 50 days. I am happy to share more information and provide the literature that I received if you would like it. You may also go to www.moneywisewomen.net. Comment here to request more info!

2321 Crestridge Dr. NW Olympia 98502

2008-09-24T11:30:00.000-07:00

Come see, Come Sigh!

$65,000

Build your dream home on Steamboat Island with a great view of Hope Island and Puget Sound! This .23 acre lot is a perfect place to build and call home. Community boat launch and moor, clubhouse and saltwater access are just a few of the privileges that come with being a Carlyon Beach resident. Community water available to property. Septic test not done yet.

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11521 Whitehall Ln. SE Olympia, WA 98501

2008-09-24T11:14:00.000-07:00

Two Homes for the Price of One!

$549,900

Endless possibilities located in the gated, private community of Whitehall. The main home features 2 kitchens, family and rec rooms, 3 fireplaces all in a Victorian style! You'll love the Jack-n-Jill bed/bath concept and the spacious master that boasts a claw-foot tub! The second home is perfect for mother-in-law living quarters with just about 1500 sq. feet. Home has 2 wells, 2 septics and a pecaeful, private setting.

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6011 Elizan Dr. NW Olympia, WA 98502

2008-09-24T11:00:00.000-07:00

5 Acres on Steamboat Island!

$349,900

Bustom 3 bedroom, 2 bath, den, family and living rooms sitting above Totten Inlet with cleared out trees to reveal the million dollar view! Open floor design, island in kitchen, gas fireplace, skylights and a built-in vacuum system! Master bath includes soaking tub with his/her sink and mirrors. A great value for view and location. Home sits at the end of a dead-end street and is very secluded.

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4305 San Juan St.NE, Lacey, WA 98516

2008-09-24T10:44:00.000-07:00

The Best Value in Jubilee!

$239,900

You will not find a better home for this price! Open floor plan makes entertaining a breeze. Granite counter tops in the kitchen with upgraded light fixtures, cabinets and an island. Designer paint colors, not to mention an active community-pool, exercise room, acitivties, golf and much, much more! Come see for yourself!

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4744 Asia Ct.SE Lacey,WA 98503

2008-09-23T16:06:00.000-07:00

Nearly New Rambler!

$218,500

This light and bright home is in great condition! Featuring 3 bedrooms and 2 bathrooms, it is situated on a corner lot on a cul-de-sac. Inside this one story home you'll find extra deep soaking tubs in both bathrooms, a laundry room and good storage. The living area has an open concept with living and dining rooms and a kitchen with island. Fridge included with the sale! Located near lakes, community store, and renovated Timberline H.S., Woodland Elementary, plus newly paved Mullen Rd. Great rental or home to live in!

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1614 14th Ave. SW, Olympia,Wa 98502

2008-09-23T15:58:00.000-07:00

Absolutely perfect location on the Westside!

$209,900

You will not find a better home at this price located so close to shopping, restaurants and Westside businesses. Built in 1990, this 3 bedroom, 1.75 bath home features 1260 square feet and sits on a .19 acre lot. A recently added patio/deck looks out over a large backyard to provide a great place for social gatherings. Additionally, home is in quiet neighborhood on a dead end street. A community park is close by. Come home to this Westside rambler today!

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18432 Rampart Dr.SE, Yelm, WA 98597

2008-09-23T15:46:00.000-07:00

Bring all Offers!

$189,900

Nearly New Home in the gated lake community of Clearwood! Open and functional floor plan includes kitchen, dining room, living room, 3 bedroom & 2 bath. This home features a pellet stove and cathedral ceilings that soar! Since it was just built in 2006 - it will feel like a brand new home. The exterior boasts a large lot that is fully fenced, nice landscaping & vinyl siding- perfect for Northwest weather!

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10347 184th SW, Rochester, WA 98579

2008-09-23T14:55:00.000-07:00

Great opportunity in Rochester!

$74,900

2 story, 3 br, 1 bath is the perfect investment! Entire home has been gutted & needs A LOT of work. Main level master, dining room with woodstove, living room with fireplace, pantry, bathroom, mud room all on the first floor. Upstairs you'll find 2 bedrooms & good storage. This home is a TRUE fixer inside/out. Exterior of home is overgrown but underneath you'll find a driveway for parking, nice size shed, great backyard & front yard. Priced to sell! Subject to shortsale/bank approval.

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7019 Sandy Point Beach RD NE, Olympia, WA 98516

2008-08-10T12:17:00.000-07:00

Beach Access!

$219,900

This home is a 3 bedroom, 1 bath, 1415 square feet, built in 1971. Newly remodeled home sits on a whopping .55 acres in the desirable Johnson Point area! Open concept kitchen and living room includes granite breakfast bar, rock back splash, and wood burning-brick fireplace. The garage has been converted to a family room. Tranquil setting with deck and a treed back yard. Lots of privacy! New windows. Just like new and move in ready! Lease-to-own option! Public beach access!

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