Countdown

Happy New Year to all of my Friends and Family


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Merry Christmas from My Family to Yours!!

http://www.zingding.com/h/811523

Did you know that in 1930 the Columbia River actually froze over? | North Portland News

Did you know that in 1930 the Columbia River actually froze over? North Portland News

Did you know that in 1930 the Columbia River actually froze over? | North Portland News

Did you know that in 1930 the Columbia River actually froze over? North Portland News

Updated Interest Rates!!

Rates Have Hit All-Time Low Levels Again!



In case you haven't caught the news, home loan rates have done it again, dropping to their lowest level...ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels.

Yes, that means, go ahead and choose your flavor – 30 Fixed, 15 Fixed, 5/1 ARM or 1/1 ARM – all loan types hit their lowest levels of the year! For the weekly Freddie Mac survey of all lenders, this is the first time that all have been at their lowest level.

You must understand, though, that rates are artificially low! Last November, Ben Bernanke and the Fed put into place a program to lower rates. That program though is nearing its end, as the Federal Reserve has purchased over $1 Trillion of mortgage backed securities this year and with less than 20% of allocated funds left in the program, rates are sure to increase. The only questions remaining are by how much and when.

The chart above shows the 30 Year Fixed Rate over the last 11 months. The first red arrow shows what took place when interest rates shot up in May, rising nearly 0.75% in a matter of days. And just as when the holidays come and go this month, the rates that are available today are likely to take off as well, only this time for good.

Interest rates that were in effect prior to the implementation of the announcement of the Fed's program last year were well above 6.00% and a return to those levels cannot be ruled out. If you are looking to refinance or currently shopping for a loan, lock your loan quickly to take advantage of the lowest rates we are likely to ever see in the future.

Remember, the reason I wanted you to see where rates have been this year is also to see how quickly they can rise. If you would like to know how I can help you, call me today. Waiting could cost you an opportunity to have an even bigger smile on your face when you say "Happy Holidays!" this month.

A Gift to your Family

Give you and your family the gift of a new home this Holiday!! Rates are the best!!






4.375% on 30yr Conv - 4.750% with zero origination)

4.500% on FHA 30yr - (4.750% with zero origination)

4.875% on 30yr Investment Property

3.500% 5yr ARM interest-only

5.500% 30yr Fixed Jumbo

Distressed Properties Report

Distressed Properties

New Tax Credit

View information regarding the New Tax Credit on Home Buying

Housing Tax Credit Update!!

House votes to expand homebuyer tax credit

Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes. The Senate approved the measure Wednesday, and the White House said President Barack Obama would sign it Friday.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

Home Is Where The Heart Is!!

New Listing in Vancouver...wow, look at the Water Falls in the backyard!! http://www.justsnooping.com/tours/2566371/

Tax Credit Extension

We are hearing that the extension of the incentive may be extended beyond the first time homebuyer...

Senators have agreed to extend the tax credit for first-time homebuyers and to include the repeat buyers...

The tax credit will be $8,000 for first time homebuyers who write an offer before the end of April, 2010, and close by the end of June. Repeat buyers can receive up to $6,500.00, if you have owned your present home for at least 5 years.

While this is still in the process of approval, but we are hopeful that this will go into effect, at least some part of this plan...

Stay tuned for updates...

Do you have a new home wish list?

Wish-list worksheet.

Creating a Wish List on paper will help you decide which home you should buy! There are many things to consider when thinking of your new home and making a wish list. You can create check boxes to help you weed out the less than satisfactory homes. Be sure to prioritize your list so that each item will not count as much as other items. A few Things To Consider: CommunitySelect a community that will allow you to best live your daily life. Many people choose communities based on schools. Do you want access to shopping and public transportation? Is access to local facilities like libraries and museums important to you? Or do you prefer the peace and quiet of a rural community? When you find places that you like, talk to people that live there. They know the most about the area and will be your future neighbors. More than anything, you want a neighborhood where you feel comfortable in.SchoolsYou can get information about school systems by contacting the city or county school board or the local schools. Your real estate agent may also be knowledgeable about schools in the area.Resale ValueYour real estate agent can give you a ballpark figure by showing you comparable listings. If you are working with a REALTOR, they may have access to comparable sales maintained on a database. You should consider new developments and if the community is growing in a fasion that will increase the value of your hoem in the years to come.PriceIt is always advisable to purchase a home within your means. Use one of our calculators to be confident that your new home purchase is within your budget!

Real Estate Market Highlights for September, 2009

As of the end of September, 2009 , and posted by RMLS we have a 7.6 month supply of homes and an average sales price of $232,200 for the month of September with an average sales price for the past 12 months of $241,200.

In September 470 homes were closed, 583 pending and 819 were new listings, with an average time on the market of 150 days. We have a total of 3,560 active listings in SW Washington at the end of September, 2009

Let's get your home Market Ready!!

How much should you spend In preparing your home for the market, spend as little money as possible. Buyers will be impressed by a brand new roof, but they aren't likely to give you enough extra money to pay for it. There is a big difference between making minor and inexpensive "polishes" and "touch-ups" to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen. Your realtor, who is familiar with buyers' expectations in your neighborhood, can advise you specifically on what improvements need to be made. Don't hesitate to ask for advice.

Understanding your Credit

Understand your credit If you have ever applied for a charge card, student loan, or other kinds of credit, you probably have a credit report (or credit profile). Credit reporting agencies collect and organize information about you and your repayment history, and make it available to those who are considering granting you credit. Landlords, employers, government licensing agencies, and insurance underwriters can also obtain your credit report. Lenders will look at things like: How promptly do you pay your bills? How many credit cards do you own? What is the total amount of credit extended? How much do you actually owe on all of your accounts? If they find a history of late payments, bankruptcies or other collection activities, too many accounts, too much indebtedness, maxed out lines of credit, or multiple inquiries in the past 12 months, this could negatively impact your ability to get credit. What is on your credit report? Personal identifying information - name, social security number, date of birth, current and previous address and employers Credit account information - date opened, credit limit or loan amount, balance, monthly payment, payment history Public record information - bankruptcy, tax and other liens, judgements, and (in some states) overdue child support Inquiries - names of companies that got your credit report Your credit report does not contain information on checking or savings accounts; medical history; race, gender, religion or national origin; credit scores; friends; political preferences; or criminal record. Negative information stays on your credit report for 7 years--10 in the case of some bankruptcies. Positive information stays on indefinitely. Inquiries stay on for 6 months to 2 years, depending on the type of inquiry.

First Time Homebuyers!!!

Time is running out for First Time Homebuyers and those who have not owned a home in the past 3 years...

You must close on your new home by the end of November to participate in the $8,000 Dollar Tax Rebate program...

It could take up to 45 days for closing so time is running out for the current program.

June Stats...

In June, same-month closed sales grew for the first time since September-2008, and same-month pending sales increased for the third straight month in Clark County.

The average sales price for June 2009 was down 12.2% compared to June 2008, while the median sales price dropped 15%. With an average sales price of $212,500 in June and Year to date of 215,000.

At the end of June, 2009 we have a 7.9 month supply of homes on the market, this is the lowest since August, 2007.

As reported by RMLS

Freddie Mac: Sales bottomed in Q1, By: Inman News

Freddie Mac analysis think home sales bottomed in the first three months of 2009 at an annual rate of 4.46 million per year, and will post steady gains each quarter to reach a pace of 5.85 million sales per year by the fourth quarter in 2010.

Sales of both new and existing detached single -family homes are expected to bottom this year at 4.72 million -- down 37 percent from the 7.46 million transactions closed in 2005 -- before rebounding to 5.5 million next year, Freddie mac said in its July 2009 Economic and Housing Market Outlook.

Rates on 30-year fixed-rate mortgages are expected to continue rising from their low of 5 percent in the second quarter of this year, reaching 5.5 percent in in the final quarter of 1009 and 6 percent by the end of 2020. At 5.8 percent, however, the projected average for 30-year fixed-rate mortgages will still be low by historic norms.

Vancouver...A community that grows with trees...

This is an exciting time to live in Vancouver! Our community is experiencing growth and development that is breathing new vitality into our neighborhoods. However, we must all take steps to preserve and enhance the urban forest today to ensure a high quality of life for future generations. Because Vancouver is a city that cares about its trees, it has been designated as a "Tree City USA, since 1989..
Trees provide important environmental, social and economic benefits for all of us:

One tree:

• Intercept 760 gallons of rainfall
• Produce 260 pounds of oxygen
• Absorb 10 pounds of airborn pollutants.
• Sequester 100 pounds of carbon dioxide.
• Provide food and habitat for wildlife.

Some Vancouver tree regulations and Permit information:

see Ordinance (VMC 20.770) and (VMC) 12.04)

• before removing any tree call Urban Forestry at 360-619-1132 to check if a permit is required.http://www.cityofvancouver.us/urbanforestry

Other good links:

http://www.clarkpublicutilities.com/

http://www.friendsoftrees.org/

http://www.pnwisci.org/

http://www.ticfortrees.info/

http://www.treelink.org/

http://www.treesaregood.com/

March Madness - Portland Style

7:25PM..PST

March 19th

Gonzaga vs Akron

http://www.ncaa.com/brackets/basketball/men/

Wine Event in the Gorge...

http://www.columbiagorgewine.com/

As seen in the WSJ, 13 March...


Wine Event in the Gorge...

Columbia Gorge region, Washington and Oregon
The Columbia Gorge AVA is about an hour east of Portland, Ore. and Vancouver, WAsh. and spans 40 miles. The region was granted appellation status in July 2004. This will be the inaugral passport weekend and 25 wineries will participate. Wineries are waiving basic tasting fees and some are offering discounts on purchases. Erin Glenn Winery will sample eight wines and the winemaker will give tours of the cellar (the winery is housed in a historic building constructed during the gold rush) Naked Winery will pour a vertical teasting of Merlots in teh VIP tasting area. Winery list and ticket information at Columbiagorgewine.com.

WHEN: March 27-29 most 11am to 5 pm
WHERE: Washington and Oregon's Columbia Gorge
HOW MUCH: $15.00 for the weekend

Trends in Vancouver, Washington Real Estate, Ending February, 2009

Market Conditions...

Market Conditions
by Realty Times Staff

Buyer are still hesitating on whether to enter to market, but the National Association of Realtors estimates "the impact of the stimulus package and lower interest rates on the housing market to be about 900,000 additional home sales in 2009 compared to conditions before the stimulus package."

The NAR also reported on regional existing home sales figures, noting that the biggest drop in January was seen in the Northeast, dropping 14.7 percent. The only region not seeing a drop was the West -- where the rate was unchanged.

The Midwest and South both saw a 5.7 percent decline.

Median prices were down across the board.

Time Change March 7, 2009

Don't forget to set you clocks back on Sunday morning, 8 March 2009

The Best and The Worst in housing...

Pick your 10 best and worst housing areas...

Portland is listed in Forbes as #4 in the Best...Prices were last this low in 2005

click link to view...

http://www.forbes.com/2009/02/24/housing-cities-ten-lifestyle-real-estate_home_prices_slide_17.html?thisSpeed=15000

Caution on HUD closings...

ALERT: Some HUD Transactions Held UpWe are following reports that several U.S. Department of Housing and Urban Development (HUD) Real Estate Owned (REO) property transactions in Washington and Idaho are being held up due to contract negotiations between HUD and their contracted escrow services. It seems the escrow services are waiting for the new contract to become effective (possibly as early as March 1st). We have contacted the National Association of REALTORS® (NAR) and HUD representatives to reach a speedy conclusion to this issue so that transactions are not further log-jammed. We will keep you up to date on the matter

Homeowners Plan update...

Homeowner Affordability and Stability Plan
February 18,2009 5pm
On Wednesday, February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of defaulting, but prevents neighborhoods and communities from being pulled over the edge too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs.

What is Zillow Saying about Vancouver, Washington Home Values...

Zillow says....http://www.zillow.com/reports/RealEstateMarketReports.htm?city=Vancouver,WA&s_cid=emm-2007126BuzzQ4ReportReProNoMSA-bab

And More.....click here...

A Guide to Vancouver, Washington Real Estate, for your move in the "The Couve"- Kathy Amorin: Stimulus Housing update!!!

Stimulus Housing update!!!

The $790 billion stimulus package signed by President Obama today increases the home buyer tax credit to $8,000, drops the repayment feature, reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans, and provides $2 billion in additional funding for states and localities to be used to purchase, manage, repair and resell foreclosed and abandoned properties. Many elements (listed below) included in HR 1 "American Recovery and Reinvestment Act of 2009," were supported by the National Association of REALTORS® (NAR) as well as the many REALTORS® who sent call to action messages to Congress urging their support! Homebuyer Tax Credit. The bill provides for a $8,000 tax credit that would be available to first-time home buyers (those who haven't owned in at least three years) for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment for buyers who hold onto their property for at least three years. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
NAR has sought removal of the repayment requirement because it discourages buyers from taking advantage of the tax credit. The three-year minimum holding period is a safeguard against speculators' use of the credit. The legislation also extends the effective date of the credit to December 1 from June 30, and extends eligibility to borrowers who buy their home with the help of state or local financial assistance that comes from the proceeds of tax-exempt mortgage revenue bonds.
The start date for the first time homebuyer credit is January 1, 2009 through and before December 1, 2009.
FHA and conforming loan limits. Specifics have not been released but reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the secretary of the U.S. Department of Housing and Urban Development.
Foreclosure mitigation and neighborhood stabilization. Funding for states and localities to be used for neighborhood stabilization activities for the redevelopment of abandoned and foreclosed homes are authorized. Some news reports put the funding level at $2 billion.
Rental assistance. Up to $1.5 billion to provide short-term rental assistance and other aid for families during the economic crisis.
Transportation infrastructure. Up to $29 billion for highway construction projects, $8 billion for rail projects.
Rural housing development. Increased funding for the Rural Housing Service direct and guaranteed loan programs.
Low-income housing grants. Allow states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low-income housing, including those with or without tax credit allocations.
Tax-exempt housing bonds. Tax-exempt interest earned on specified state and local bonds issued during 2009 and 2010 will not be subject to the Alternative Minimum Tax (AMT). In addition, financial institutions will have greater capacity to purchase tax-exempt state and local bonds.
Energy efficient housing. Grants for energy retrofits for federally assisted housing (Section 8), funding for energy efficiency and conservation block grants to states, increases in the residential tax credit through 2010 for certain energy efficient upgrades and $5 billion to weatherize low-income homes.

Stimulus Bill.....

Well, the wait is over...the news for home buyers and sellers isn't what we were hoping to see....

The bill is offering $50 Billion to help stem foreclosures...I am not sure what this means today....I guess that we will find out down the road a bit.

Treasury Secretary Timothy Geithner will be getting back to us on the details of this plan..

I guess that Wall Street doesn't understand this either...at the close of business today, all Markets are down....

On the bright side...housing prices are down as are interest rates...time to buy, especially if you are a first time home buyer...

Vancouver/SW Washington Real Estate

Home Values...do you know what the current value of your home is today? If you are not sure, I would be happy to give you a free value report.

Home sales and prices are declining in our market, especially the high end homes. 5,133 homes were sold in 2008 compared to 7,613 in 2007. The sales in 2008 were the lowest in 15 years, with the median price in December, 2008 of $234,450. Remember, you would not go to the Gas Station that was still asking $4.00 per gallon...so price your home with the market...

One in 400 homes in Clark County Washington is in forclosure, this is a significant contributer to the declining market.

Looking for a Loan, well the rates are great, if you can get one...you need a credit score of 740 or above, stated income and assets. You will need to provide the last two pay stubs, income tax records and recent retirement, savings and stock market asset account statements.

First time homebuyers should apply for pre-approval before you start the search for a new home. This will get the biggest obstacle out of the way.

Don't sit on the fence, because the prices are great and the rates cannot be better...go for it!!!