Officially Closed - Seattle Proeperty Sold in 10 Day!

$299,000 ($170/Sq.Ft.) MLS# 29166001 - Pending 3331 S Graham St   Seattle, WA 98118 Interior Size: 1,760 Sq.Ft. Lot Size: 7,214 Sq.Ft. (0.17 acre) Beds: 5   Baths: 2 Community: Beacon Hill

A great home on thriving Southeast side of Beacon Hill; Virtually a complete remodel includes new kitchen w/ SS appliances & slab granite counters, refinished hardwoods, new double pain windows, new deck off kit. All plumbing has been redone w/ remodeled baths & 2 beds w/ 2nd kitchen on lower level; ideal for rental. New garage door opener & fully fenced. Minutes to freeway & 1 block off MLK gives ideal access to Light Rail, shopping, dining & local amenities. Home comes w/ 1 Yr Fid Nat'l HW.

Days on Site: 49 Year Built: 1967 2009 Taxes: $2,764 Style: 1 Story w/Bsmnt. Siding: Wood Products Roof: Composition Sewer: Sewer Connected School District: Schools: Appliances That Stay: Dishwasher, Garbage Disposal, Range/Oven, Refrigerator Heat Source: Forced Air Heat Energy: Natural Gas Floor Covering: Ceramic Tile, Hardwood Features: Dining Room, 2nd Kitchen

BRITISH ISLES TASTING EVENT with Ari Shapiro Tonight at Finaghty's!

Join us for a special night of Scotch and Irish Whisky tasting with 'The Master of Whisky', Ari Shapiro!

Ari discovered a passion for whisky when he was introduced to a single malt Scotch in his early 20s. “Immediately,” he says, “I could tell it was different than other spirits. As I experienced more whiskies, I learned more about the production and history that makes each so wonderful and different – traits that are unmatched in the rest of the spirit world.” Then, in his training to become a Master of Whisky for Diageo, Shapiro gained firsthand experience with whisky-making processes across Scotland, Ireland and North America. As the Master of Whisky for Seattle, Shapiro educates bartenders, restaurant owners, state employees, and consumers about the history and nuances that make up the world of Scotch, Irish, American and Canadian Whiskies. Shapiro says his goal as a Master of Whisky is to educate others about the “intricate processes and minute decisions that make each whisky unique. Working with such a variety of high-quality spirits gives me the tools to explain to people what makes each whisky so special and distinctive.”

BRITISH ISLES TASTING EVENT with Ari Shapiro!

6:00 PM - 9:00 PM  Jan 27, 2010

Location:  Finaghty's Irish Pub - 7726 Center Blvd SE, Suite 110

PredictingThe Fed's Next Move

The FOMC Statement has been released. Here is a recap:

• FED REAFFIRMS PROMISE TO KEEP RATES EXCEPTIONALLY LOW FOR AN EXTENDED PERIOD
• FED REPEATS EXPECTATION THAT MORTGAGE BACKED SECURITIES, AGENCY DEBT PURCHASES TO BE EXECUTED BY END OF Q1
• SWAP ARRANGEMENTS WITH CENTRAL BANK COUNTERPARTIES WILL CLOSE SWAP ARRANGEMENTS ON FEB 1
• FED SAYS WINDING DOWN TERM AUCTION FACILITY, FINAL AUCTION TO BE ON MARCH 8
• HOENIG ONLY DISSENT IN DECISION ON POLICY ACTION; BELIEVED CONDITIONS CHANGED, LOW RATE, EXTENDED PERIOD VOW NO LONGER NEEDED
• ECONOMIC ACTIVITY TO STRENGTHEN, DETERIORATION IN LABOR MARKET ABATING
• HOUSEHOLD SPENDING EXPANDING AT MODERATE RATE, CONSTRAINED BY WEAK LABOR MARKET, TIGHT CREDIT
• INVESTMENT IN STRUCTURES STILL CONTRACTING, BUSINESSES RELUCTANT TO ADD TO PAYROLLS
• BANK LENDING CONTINUES TO CONTRACT, BUT FINANCIAL CONDITIONS SUPPORTIVE OF GROWTH
• PACE OF RECOVERY SEEN MODERATE FOR A TIME, FED ANTICIPATES GRADUAL RETURN TO HIGHER RESOURCE USE
• FED SAYS WITH HIGH UNEMPLOYMENT, STABLE INFLATION EXPECTATIONS, INFLATION LIKELY SUBDUED FOR SOME TIME 

Securing An FHA Mortgage Is About To Get More Expensive

In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group's portfolio risk while strengthening its overall financials.
For consumers, the changes mean higher costs.

As listed in the official announcement, there are 3 major guideline updates for the FHA:

1. Upfront mortgage insurance premiums are increasing to 2.25% from 1.75%
2. Minimum downpayments for applicants with sub-580 FICOs are rising to 10 percent
3. Seller concessions are being limited to 3%, down from today's allowable 6%
Furthermore, the FHA has appealed to Congress to raise an FHA borrowers' monthly mortgage insurance premiums.

To read the FHA's statement, it's clear what the group is trying to balance. On one side, the FHA wants to provide affordable financing to families that need it. That's its mission statement. On the other side, though, the FHA must manage the risk that comes with insuring lesser-quality loans.

To that end, the FHA is stepping up its enforcement of "bad lenders" in hopes of stopping problems where they start.

Also in its new policies, the FHA is introducing a "termination clause". If banks or loan officers that produce more than their fair share of bad loans, they lose their right to originate FHA mortgages.

As a result, homebuyers should expect tougher FHA underwriting in 2010. Not because the FHA says so, necessarily, but because banks don't want to do "bad loans". Lenders are incented to turn down at-risk applicants and, already, we're seeing examples of this. Despite FHA allowing 580 FICOs and lower, many banks have made 620 their minimum.

Some have other guideline overlays, too.

The FHA's new guidelines don't go into effect until spring. So, between now and then, the old guidelines will apply. Therefore, if you know you're going to need an FHA home loan in the next few months, consider moving up your time-frame.

Rates have pulled back a bit over the last week when they took a considerable jump but it doesn't mean people should hold off with the thought that it'll continue to get better. I have been fairly steady and accurate regarding people who are looking to be active in this market needing to be active sooner rather than later.

My push to act now isn't based on what is happening today, but rather what is likely to occur when you take a look at long-term historical data and where we will likely be a few years out – where we are likely to see higher employment, higher national housing prices, greater economic growth, and higher mortgage rates. This means today is a very good time to act when considering where the market is likely to be a few years out.

30 yr fixed mtg hit:	5.28%
in the city of:	Bellevue
in the state of	WA

                                                     Courtesy of Bankrate.com

Snoqualmie Ridge Resident Buys Zoka Coffee

Snoqualmie Ridge resident Steve Pennington has bought Zoka Coffee Roaster & Tea on the Ridge, and plans to turn it into Steve’s Doughnuts in late January.

Despite the name change, the coffee and the faces serving it will stay the same. Pennington says he will keep any barista who wants to stay on and he will continue selling Zoka coffee in drinks and in whole-bean coffee bags. Read more

Teens Help with Local Version of National Drug-Free Campaign

Great article for parents with teens or pre-teens to help them with navigating around a serious subject matter.

Peer pressure can be intense, but two Mount Si High School students are talking about how they chose to be drug free.

Mount Si freshmen Gabe Kangas and Ethan Waud participated in Project Alert, a national campaign of workshops and videos designed to give seventh and eighth graders insight, understanding and skills for resisting substance abuse.

Read more Written by Laura Geggel

Closed Short- Sale - Lakemont, Bellevue

 

16359  SE 48th Dr,  Bellevue, WA  98006     Sold  (01/14/10)  CDOM: 188

Beds: 3 Baths: 2.50 Sq Ft: 1474 Lot Sz: 6715sqft

Yr: 2001



After receiving an offer 7 months ago, this Short-Sale in Lakemont has finally closed with the previous owners happy to be in a different place that is less financially crippling and the new owner excited about making it her own. Contractors were in today already to start work on redoing the floors. Thanks to Emma Guenette with John L. Scott Issaquah who helped bring the deal together and for her client's patience through the long process of getting bank approval.

If you need help or know of someone who needs help understanding 'short-sales' or needs to take their property in this direction, please reach out and let me help you through the process.

10 Tips To Buy or Sell Real Estate in 2010

Good insight from a Bankrate.com article.

10 Tips to Buy or Sell Real Estate in 2010

If you're looking to Buy or Sell, let me know how I can help.

Daily Mortgage Rate Update Courtesy of Bankrate.com

This was at 4.91% in Mid-November...It's been spoken of that interest rates will continue to go up throughout 2010 so if you or someone you know has been holding off, I'd say now is a good time to 'act'.

30 yr fixed mtg hit: 5.28% in the city of: Bellevue in the state of WA

                                                                                          Courtesy of Bankrate.com

Mariners 3B Used to Live Here

Guessing Adrian knew he was on his way out before the season even ended! Will be interesting to see what he buys in his new city of Boston.

Mariners 3B used to live here by BlockShopper.com | BlockShopper Seattle

Posted using ShareThis

Software Outsourcing Co. Founder gets Snoqualmie 5BD

Software outsourcing co. founder gets Snoqualmie 5BD | BlockShopper Seattle

Posted using ShareThis

Software Design Engineer Gets 3BD in Sammamish East.

Software design engineer gets 3BD in Sammamish East. | BlockShopper Seattle

Posted using ShareThis

Snoqualmie Casino Hosts 'Survivor' Casting Calls

On January 2, 2010, over 250 hopefuls lined up at Snoqualmie Casino for an open casting call for the long-running CBS reality challenge show. One of those hopefuls was our own Cascade Team member Becky Lower who anxiously awaited her 60 second opportunity to win over the producers of the show. She came out feeling good about her 'audition' and said that if interested, they would contact her for a follow up that would happen in March. We'll be following this one closely to see if The Ridge and The Cascade Team can't land themselves a new star!

30,000+ King County Residents may qualify for the new Long-time Resident Tax Credit

Many are pretty aware of the First-Time Buyer Tax Credit but there's a whole slew of other homeowners who have the opportunity to take advantage of the Triple Threat (lower home prices, lower interest rates and Free Tax Credit). Click Here to learn more. 

$6,500 Move-Up / Repeat Home Buyer Tax Credit Basics

To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.

• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
• The tax credit applies only to homes priced at $800,000 or less.
• Taxpayer must have owned primary residence for 5 of the last 8 years(
• The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

Newest Listing - Snoqualmie Ridge

 

Beautiful Snoqualmie Ridge home! Spacious 4 bedrooms with 'open' main floor. Spacious kitchen with an abundance of cabinetry w/ granite tile countertops and a huge walk-in pantry. Family room w/ beautifully trimmed gas fireplace. Large Master Bedroom and lovely master bath. Nice yard w/ established sunflower garden; great location that is close to schools, shopping and easy access to I-90 and all that Snoqualmie has to offer. This home is move-in ready, comes with a 1 year free home warranty.

Property Flyer     Virtual Tour    www.nwrealestateguru.com 

NW Real Esate Guru Blog Is Underway!

Happy New Year and may 2010 be all you hope it to be!

Like many, I'm taking advantage of the New Year to start something 'new'. Welcome to my real estate blog; a place to keep up-to-date with all things real estate in the Greater Puget Sound area with an Eastside and Seattle concentration. I look forward to providing education and insight to an industry that is very exciting yet has many layers to understanding it. I believe an educated consumer is a much happier one!

I hope you'll enjoy the information, provide feedback, pass it along and share ideas regarding the things you'll see here. Being relatively new to the 'blogging' world, I'm open to knowing what people want to see or hear about and truly believe we are always better off when results come from a collective effort.

If you're wanting browse any listing in Western Washington, visit my personal website at www.nwrealestateguru.com and utilize our industry leading Map Search that alllows you to customize your search criteria.

If there is anything I can do to help you or someone you know with your real estate needs, please let me know how I can be of help!