North Bend - 1015 SE 11th Place - $440,000.00
Exquisite 3BR craftsman home in the wonderful & conveniently located Si View community. Perfectly situated on a spectacular, large Si View lot surrounded by breathtaking mountain views. Gorgeous remodeled gourmet kitchen features granite counters & island, stainless appliances, large walk in custom pantry, granite eating bar & sunny dining nook. The open floor plan is perfect for entertaining. Master suite has large Walk In Closet & Master Bath w/soaking tub & wash closet. The large bonus room offers endless possibilities. This beautiful and immaculately maintained home has it all: Central Air, formal dining room, living room, family room, office/den, laundry room, fireplace, hardwoods, french doors, slab granite & new fixtures in all 3 bathrooms, welcoming covered front porch & attached garage. Spacious and fully fenced back yard features fabulous landscaping, patio, summer vegetable gardens, french drains, walkways, and an additional “hidden” play area. Workshed with workbench, heater, power & lighting. Fantastic location and so convenient to I-90, Seattle, shopping, skiing & trails. Don’t miss this stunning property in the ideal location. For more information contact Tonya Eliason at 425-831-5721.
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All information in this site is deemed reliable but is not guaranteed and is subject to change |
Saturday, June 26, 2010
New listing - Gorgeous Si View home ~ Open Sunday 1-4pm
New listing - Stunning Wood River Home Open today 1-4pm
North Bend - 13906 463rd Ave SE - $550,000.00
Magnificent home in the stunning Wood River community. Gorgeous Craftsman home nestled in a truly spectacular setting on over 3/4 acre. Rare groundfloor master suite has large Walk In Closet, Master Bath w/soaking tub & french doors to magnificent deck/hot tub. This exquisite home truly has it all: Central air, gourmet kitchen w/granite counters, island & sink, formal dining room, living room, family room, den/office, laundry room, hardwoods, vaulted ceilings, french doors, fireplace, tons of storage, large deck, automated sprinklers (front & back), fenced yard (rear property line ~60 ft beyond second fence), and truly amazing landscaping. 2 bonus rooms are perfect for 2nd office, play area, hobby room or additional bedrooms. Large 1250 sf custom deck features covered hot tub, BBQ area and spectacular firepit seating area - perfect for entertaining. Over 3/4 acre with walking trails & sitting areas in this breathtaking parklike setting. Upgraded 3 car garage has custom cabinetry, workbench & tons of storage. Community trail system circles the neighborhood and overlooks the Snoqualmie River. The perfect balance between privacy & community, yet so convenient to I-90 (less than 1 mile), Seattle, skiing & trails. 1 year Fidelity Home Warranty. Breathtaking fairytale location. Don’t miss this exceptional property! For more information contact Tonya Eliason at 425-831-5721.
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All information in this site is deemed reliable but is not guaranteed and is subject to change |
Friday, June 25, 2010
Mortgage rates hit record lows!
By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer –
WASHINGTON – Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments on home purchases and refinancings.
Mortgage company Freddie Mac said Thursday that the average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week.
That's the lowest since Freddie Mac began tracking rates in 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.
Mortgage rates have fallen over the past two months. Investors wary of the European debt crisis and the turbulent stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury debt.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on 15-year, fixed-rate mortgages fell to an average of 4.13 percent, the lowest on records dating to September 1991 and down from 4.2 percent a week earlier.
Rates on five-year, adjustable-rate mortgages averaged 3.84 percent, down from 3.89 percent a week earlier. That was also the lowest on Freddie Mac's records, which only date back to January 2005.
Average rates on one-year, adjustable-rate mortgages fell to 3.77 percent from 3.82 percent. That was the lowest average since May 2004.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for 30-year, 5-year and 1-year loans. The average fee for 15-year loans was 0.6 of a point.
WASHINGTON – Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments on home purchases and refinancings.
Mortgage company Freddie Mac said Thursday that the average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week.
That's the lowest since Freddie Mac began tracking rates in 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.
Mortgage rates have fallen over the past two months. Investors wary of the European debt crisis and the turbulent stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury debt.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on 15-year, fixed-rate mortgages fell to an average of 4.13 percent, the lowest on records dating to September 1991 and down from 4.2 percent a week earlier.
Rates on five-year, adjustable-rate mortgages averaged 3.84 percent, down from 3.89 percent a week earlier. That was also the lowest on Freddie Mac's records, which only date back to January 2005.
Average rates on one-year, adjustable-rate mortgages fell to 3.77 percent from 3.82 percent. That was the lowest average since May 2004.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for 30-year, 5-year and 1-year loans. The average fee for 15-year loans was 0.6 of a point.
Tuesday, June 15, 2010
New Listing - Stunning Log Home on Acreage
Snoqualmie - 36508 SE 82nd St - $750,000.00
Gorgeous 4342sf 3+ bedroom, 3 bath custom log home situated on 5 private, breathtaking acres. Majestic great room with 20' vaulted ceiling, stone fireplace & expansive windows to enjoy the spectacular mountain views. Gourmet kitchen w/granite, walk in pantry & granite island. Master suite features his & hers closets, sitting area & master bath with jetted soaking tub. Additional room (w/ closet) for 4th bedroom, office, or ? This exquisite home truly has it all! Large bonus loft w/ balcony, formal dining room, living room, 2 additional fireplaces, wired for standby generator, low maintenance landscaping, porch, patio & large deck. Lower level features additional entrance, 2nd gourmet kitchen, family/rec room, 2nd laundry room, bedroom(s), large workshop, tons of storage, etc (MIL potential?). Large, level yard perfect for horse, outbuilding, or ? Extraordinary, private location yet only 3 miles to I-90 and less than 30 miles to Seattle. One year home warranty. Must see this exceptional property. For more information contact Tonya Eliason at 425- 831-5721
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All information in this site is deemed reliable but is not guaranteed and is subject to change |
Saturday, June 5, 2010
Home Sales Decline 44% after Expiration of Tax Credit
Home sales adjusting after surge before tax credits expired
KIRKLAND, Wash. (June 4, 2010) – Home sales during May tapered off around Washington state following a surge of activity in April as buyers hustled to meet deadlines for tax credits.
Northwest Multiple Listing Service brokers reported 5,242 pending sales (mutually accepted offers) last month, a decline of more than 44 percent from April’s total of 9,438 pending sales. Compared to twelve months ago when members tallied 7,160 pending sales of single family homes and condominiums, the volume dipped about 27 percent, but year-to-date figures show 2010 sales are well ahead of 2009.
Through five months, NWMLS members in 21 counties have notched 35,398 pending sales, outpacing the same period a year ago by 6,707 transactions for an increase of more than 23 percent.
“Leading up to its expiration, the tax credit caused a surge of home sales, but a surge can only be sustained for so long,” said Lennox Scott, chairman and CEO of John L. Scott Real Estate. “What we’re seeing now is a natural adjustment,” he explained, adding, “As consumer confidence continues to improve in the coming months, we expect to see the buyer pool replenish itself which should be followed by an increase in home sales.”
Listing activity also sagged during May after strong upticks in March and April during the buildup before the incentives lapsed. Brokers added 9,385 new listings to inventory last month, down nearly 17 percent from year-ago totals. The additions included 8,122 single family homes and 1,263 condominiums.
At month end, the area-wide inventory included 41,690 active listings, about the same total as a year ago when there were 41,318 residential properties for sale in the MLS database.
“Inventory is inching up compared to last year as more sellers are becoming optimistic that if they price their home competitively they will find a buyer in this market,” observed NWMLS director Dick Beeson, broker/owner of Windermere Commencement Associates in Tacoma.
Beeson noted the “extremely low interest rate phenomenon” is expected to last through the summer and into fall, which he believes will help give a nudge to buyers that “no longer can look to the tax credit for incentive.” He characterized the long-term effects of low interest rates as “very positive,” saying such rates make homeownership even more of a bargain than the price adjustments that have occurred over the last few years.
Frank Wilson, another MLS director and the managing broker at John L. Scott, Inc. Poulsbo, agreed the slowdown during May was due in part to the end of the incentive program, but noted overall activity so far this year is stronger than a year ago. As the market returns to normal, Wilson expects home values may continue to decline in some parts of Kitsap and within some price ranges.
As an example, Wilson mentioned the waterfront category, noting it “continues to soften with the bottom hopefully in sight later this year.” Conditions still favor buyers, he observed, citing low interest rates and “a lot of choices within the active inventory.”
Prices for home sales that closed last month declined about 3.6 percent compared to a year ago, but increased 3.4 percent from April. The area-wide median price was $269,950, down from twelve months ago when the median price was $280,000. Despite the overall dip in prices, ten of the 21 counties served by Northwest MLS had year-over-year price gains.
The volume of closed sales rose 27.3 percent from a year ago, rising from 4,154 completed transactions to 5,290 closings.
Commenting on the latest numbers, Northwest MLS director Bobbie Petrone Chipman said the statistics support her belief that the real estate industry will experience inverted first and second quarters due to the now expired tax credit. “Whereas traditionally the first quarter of the year reflects a yawn and stretch of the marketplace as it awakens into a more boisterous second quarter, this year was shaken awake during the first quarter by the tax credit,” she remarked. Petrone Chipman, the co-managing broker of Coldwell Banker Bain Tacoma/Puyallup, expects a slight lull for the second quarter.
“As interest rates remain phenomenally low and inventory remains high, first-time buyers will continue to recognize the tremendous opportunity and benefit of owning their own home,” Petrone Chipman commented, adding, “Move up buyers may not see as much equity return on the sale of their homes, but they will benefit from purchasing homes that may have been beyond their means a few short years ago.”
Pointing to closed sales, Petrone Chipman noted year-to-date volumes are up significantly (more than 38 percent) when compared to the same five-month period of 2009. “This is an indicator that the overall 2010 real estate market is moving in a healthy direction,” she declared. She also believes the Seattle area’s high rankings on various “best cities” polls are other reasons for optimism. For example, she cited a recent report by editors of Kiplinger’s Personal Finance Magazine that ranked Seattle second among “10 best cities for the next decade” based on an assessment of vitality and growth potential.
Commenting on activity in Pierce County, where his office is located, Beeson said homes in the mid- to lower-price ranges are still the favorites of buyers, leaving many high-end sellers anxiously waiting in the wings for their day. He described the market as “steady” and “edging along” after the torrid pace of activity in late April as the tax credits were ending.
Beeson said research by the National Association of Realtors and the Washington Research Council indicates approximately 58,000 first-time homebuyers in Washington state used the tax credit. These sales generated $640 million in state revenue and $6.5 billion in state economic activity.
Nationally, a report by the Mortgage Bankers Association issued in mid-May reflected adjustments in activity coinciding with the expiring tax incentives. In a statement on May 19, Michael Fratantoni, MBA’s vice president of research and economics, said purchase applications plummeted 27 percent during the previous week and declined almost 20 percent over the past month, despite relatively low interest rates.
“The data continue to suggest that the tax credit pulled sales into April at the expense of the remainder of the spring buying season,” Fratantoni stated. “In fact,” he continued, “this drop occurred even as rates on 30-year fixed-rate mortgages continued to fall, and at 4.83 percent are at their lowest level since November 2009. However, refinance borrowers did react to these lower rates, with refi applications up almost 15 percent, hitting their highest level in nine weeks.”
Northwest Multiple Listing Service, owned by its member brokers, is the largest full-service MLS in the Northwest. Its membership includes more than 24,000 brokers and agents. The organization, based in Kirkland, currently serves 21 counties in Western and Central Washington.
KIRKLAND, Wash. (June 4, 2010) – Home sales during May tapered off around Washington state following a surge of activity in April as buyers hustled to meet deadlines for tax credits.
Northwest Multiple Listing Service brokers reported 5,242 pending sales (mutually accepted offers) last month, a decline of more than 44 percent from April’s total of 9,438 pending sales. Compared to twelve months ago when members tallied 7,160 pending sales of single family homes and condominiums, the volume dipped about 27 percent, but year-to-date figures show 2010 sales are well ahead of 2009.
Through five months, NWMLS members in 21 counties have notched 35,398 pending sales, outpacing the same period a year ago by 6,707 transactions for an increase of more than 23 percent.
“Leading up to its expiration, the tax credit caused a surge of home sales, but a surge can only be sustained for so long,” said Lennox Scott, chairman and CEO of John L. Scott Real Estate. “What we’re seeing now is a natural adjustment,” he explained, adding, “As consumer confidence continues to improve in the coming months, we expect to see the buyer pool replenish itself which should be followed by an increase in home sales.”
Listing activity also sagged during May after strong upticks in March and April during the buildup before the incentives lapsed. Brokers added 9,385 new listings to inventory last month, down nearly 17 percent from year-ago totals. The additions included 8,122 single family homes and 1,263 condominiums.
At month end, the area-wide inventory included 41,690 active listings, about the same total as a year ago when there were 41,318 residential properties for sale in the MLS database.
“Inventory is inching up compared to last year as more sellers are becoming optimistic that if they price their home competitively they will find a buyer in this market,” observed NWMLS director Dick Beeson, broker/owner of Windermere Commencement Associates in Tacoma.
Beeson noted the “extremely low interest rate phenomenon” is expected to last through the summer and into fall, which he believes will help give a nudge to buyers that “no longer can look to the tax credit for incentive.” He characterized the long-term effects of low interest rates as “very positive,” saying such rates make homeownership even more of a bargain than the price adjustments that have occurred over the last few years.
Frank Wilson, another MLS director and the managing broker at John L. Scott, Inc. Poulsbo, agreed the slowdown during May was due in part to the end of the incentive program, but noted overall activity so far this year is stronger than a year ago. As the market returns to normal, Wilson expects home values may continue to decline in some parts of Kitsap and within some price ranges.
As an example, Wilson mentioned the waterfront category, noting it “continues to soften with the bottom hopefully in sight later this year.” Conditions still favor buyers, he observed, citing low interest rates and “a lot of choices within the active inventory.”
Prices for home sales that closed last month declined about 3.6 percent compared to a year ago, but increased 3.4 percent from April. The area-wide median price was $269,950, down from twelve months ago when the median price was $280,000. Despite the overall dip in prices, ten of the 21 counties served by Northwest MLS had year-over-year price gains.
The volume of closed sales rose 27.3 percent from a year ago, rising from 4,154 completed transactions to 5,290 closings.
Commenting on the latest numbers, Northwest MLS director Bobbie Petrone Chipman said the statistics support her belief that the real estate industry will experience inverted first and second quarters due to the now expired tax credit. “Whereas traditionally the first quarter of the year reflects a yawn and stretch of the marketplace as it awakens into a more boisterous second quarter, this year was shaken awake during the first quarter by the tax credit,” she remarked. Petrone Chipman, the co-managing broker of Coldwell Banker Bain Tacoma/Puyallup, expects a slight lull for the second quarter.
“As interest rates remain phenomenally low and inventory remains high, first-time buyers will continue to recognize the tremendous opportunity and benefit of owning their own home,” Petrone Chipman commented, adding, “Move up buyers may not see as much equity return on the sale of their homes, but they will benefit from purchasing homes that may have been beyond their means a few short years ago.”
Pointing to closed sales, Petrone Chipman noted year-to-date volumes are up significantly (more than 38 percent) when compared to the same five-month period of 2009. “This is an indicator that the overall 2010 real estate market is moving in a healthy direction,” she declared. She also believes the Seattle area’s high rankings on various “best cities” polls are other reasons for optimism. For example, she cited a recent report by editors of Kiplinger’s Personal Finance Magazine that ranked Seattle second among “10 best cities for the next decade” based on an assessment of vitality and growth potential.
Commenting on activity in Pierce County, where his office is located, Beeson said homes in the mid- to lower-price ranges are still the favorites of buyers, leaving many high-end sellers anxiously waiting in the wings for their day. He described the market as “steady” and “edging along” after the torrid pace of activity in late April as the tax credits were ending.
Beeson said research by the National Association of Realtors and the Washington Research Council indicates approximately 58,000 first-time homebuyers in Washington state used the tax credit. These sales generated $640 million in state revenue and $6.5 billion in state economic activity.
Nationally, a report by the Mortgage Bankers Association issued in mid-May reflected adjustments in activity coinciding with the expiring tax incentives. In a statement on May 19, Michael Fratantoni, MBA’s vice president of research and economics, said purchase applications plummeted 27 percent during the previous week and declined almost 20 percent over the past month, despite relatively low interest rates.
“The data continue to suggest that the tax credit pulled sales into April at the expense of the remainder of the spring buying season,” Fratantoni stated. “In fact,” he continued, “this drop occurred even as rates on 30-year fixed-rate mortgages continued to fall, and at 4.83 percent are at their lowest level since November 2009. However, refinance borrowers did react to these lower rates, with refi applications up almost 15 percent, hitting their highest level in nine weeks.”
Northwest Multiple Listing Service, owned by its member brokers, is the largest full-service MLS in the Northwest. Its membership includes more than 24,000 brokers and agents. The organization, based in Kirkland, currently serves 21 counties in Western and Central Washington.
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