TO BUY OR NOT TO BUY...
We just recently received a housing report labeled Housing market hits “trifecta” from Northwest Multiple Listing Service. Puzzled by its meaning, I looked up the word ‘trifecta’ in Webster’s Dictionary and came up with this definition - “a system of betting in which the bettor must pick the top three winners in the correct sequence.”
According to Meribeth Hutchings, a director for NWMLS, we are experiencing a housing trifecta in today’s market. She states that the combination of the (1) lowest interest rates on record, (2) plenty of inventory and (3) low prices offer an unprecedented opportunity for buyers. The broker/owner of Windermere Real Estate/Lake Stevens Inc. continued by saying that homes have never been this affordable in her 28 years in the business.
MLS director Matt Deasy, managing broker of Windermere Real Estate/East feels some buyers may not fully understand the advantages of today’s low interest rates. Citing examples from Windermere’s affiliated mortgage company, Deasy said a buyer saves $374 a month on a $300,000 loan compared to three years ago. The principal and interest on a $300,000 mortgage at today’s rate of 4.375 percent would be $1,498. Three years ago, when the rate averaged 6.375 percent, the P&I payment would have been $1,872.
Whidbey Island Bank just released a rate chart on conforming loan amounts at $417,000 or less. Their 30-year fixed is at 4% interest with a 1.125% loan fee and an APR of 4.128%. The amount of the monthly payment would be $4.77 per $1,000 borrowed. So a $300,000 loan would be approximately $1,431.00 at 20% down. The rates are even better on the 15-year fixed loans. The rate is 3.75% with a .500% loan fee and an APR of 3.883%. At $7.27 per $1,000 borrowed payments would be $2,181.00 on a $300,000 loan assuming 20% down. If you’re equipped to make that payment, your house would be paid for in 15 years!!!
HEY, LOOK AT THE CURRENT INTEREST RATES!
It’s cloudy in Bellingham, WA on this Wednesday, June 09, 2010. Did you take advantage of the sunny days to mow your lawn and weed your gardens? Ever since we put something on our lawn to curb the moss, the grass won’t quit…so when it ain’t raining, we’re mowing!
We here at Fairhaven Realty on Bellingham’s southside have been encouraging our prospective buyers to ACT NOW while the interest rates are at a real low! In fact, check the rates out! Quotes we are seeing vary…but on single-family residential, Wells Fargo quotes the interest rate at 4.75% on a 30-year fixed with the APR at 4.939%. Nicole Walker of Golf Savings Bank just E-mailed me a quote of 4.625% (1%) on a $250,000 30-year fixed, 20% down, with an APR at 4.874%. A 15-year fixed at $250,000 with 20% down is at 4.125% (1%) with an APR of 4.343%. She says rates are continuing to lower. Good, huh!
The rates for refinancing may be slightly different…so if you’re thinking along those lines, call your lending institution, or several others, and get their current interest-rate quotes.
Do you want to buy, but don’t know if it is feasible for you? Call our office at 360-676-8990 with any questions about the buying process and the steps to take. Any one of our informed agents will be happy to help you.
Weekend Family/Ski to Sea Events
Pulitzer Prize-winning poet Ted Kooser is among the internationally renowned poets appearing for the event. Also attending are Washington State Poet Laureate, Sam Green, Sherman Alexie, Michael Daley, Tim McNulty, Mary Lou Sanelli and Whatcom County�s Jim Bertolino, Mary Cornish, Nancy Pagh and Jeremy Voigt. Musical entertainment by Robert Sarazin Blake.
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Bellingham's Ski to Sea events include the Ski to Sea carnival at the Bellis Fair Mall - Sears parking lot (May 20 through May 30) weekdays from 3 p.m. to late; weekends from 11 a.m. to late.
Friday, May 21 the Ski to Sea Junior Parade begins at 6 p.m. in downtown Bellingham.
Saturday, May 22 the Ski to Sea Junior Race events take place beginning with an 8 a.m. check-in for the Elementary race at 9 a.m.; 10:30 a.m. check-in for Middle School race at 11:30 a.m.; 12:30 check-in for Community Race at 1:30. (Awards to follow each event)
Used Book Sale at the Bellingham Public Library, 210 Central Ave. sponsored by Friends of the Bellingham Library runs Wednesday, May 26 10 a.m.-6 p.m. (preview, items double reg. prices); Thursday, May 27 10 a.m.-6 p.m.; Friday, May 28: 10 a.m. - 6 p.m. (items are half price); and Saturday, May 29 ($3 for all the books you can fit in a bag).
*Information gathered from the Bellingham Herald's Take Five May 20-27, 2010.
Countywide Open House event this weekend!
Interest rates are rising, so now is the time to view and purchase. The Tax credit is still available for any Purchase and Sale Agreement signed by April 30, 2010. An additional 60 days are given to close the transaction.
If you are a repeat buyer and you have owned a home for five consecutive years (out of the past eight years) as your primary residence, you can take advantage of the $6,500 Tax Credit. Your home purchase cannot exceed $800,000. Filing individually, your income cannot exceed $125,000 or $225,000 if married and filing jointly. You must be 18 years of age or older.
If you are a first-time homebuyer there is an $8,000 tax credit available for you if you have not owned a home as your primary residence for the past three years. Your income cannot exceed $125,000 (filing individually) or $225,000 (married and filing jointly).
WWU Spring Career Fair-April 22
It's cold today! It seems like winter on this Wednesday, April 07, 2010 in Bellingham, WA. Our spring flowers are probably a little confused. I was going to hibernate my winter coat, but decided it was toooooooo early!
A Spring Career Fair is being hosted by WWU on April 22, 2010. If you are seeking a job, Western Washington University invites you to attend. It is being held from 11 a.m. to 3 p.m. Thursday, April 22 in the Mac Gym of the Wade King Student Recreation Center.
This event is sponsored by the WWU Career Services Center. It allows students and the general public to meet hiring managers from a broad range of private-sector companies, nonprofit organizations and government agencies. Admission to the fair is free.
Some participating employers include: City of Seattle Parks and Recreation, Enterprise Rent-A-Car, Edward Jones Investment, Bellingham, Expeditors International, Fred Meyer Stores, NAPA Auto Parts, NOAA Northwest Fisheries Science Center, Peace Health/St. Joseph Hospital, Peace Corps, Rite Aid Corp, Target, U.S. Coast Guard, Whatcom Community College and others. Visit the Career Services Center Web site at www.careers.wwu.edu for a complete listing of participating employers or call the Center at (360) 650-3240.
Job seekers should bring resumes, research the companies in advance and dress in business attire. A free workshop, "How to prepare for the Spring Career Fair," teaches skills in approaching employers and will be held at 4 p.m. on Thursday, April 15 and at noon on Monday, April 19 in Viking Union (VU) 567. *
* www.careers.wwu.edu & The Bellingham Herald, March 16, 2010 Western Washington's spring career fair April 22 by Dave Gallagher
Pet Owners Beware!
An email just arrived stating that a pet owner's young lab named Calypso devoured a large helping of Cocoa Mulch, subsequently vomited and showed no other apparent signs of illness. The next day when the owner took Calypso for her morning walk, she had a seizure and died.
While this story has not been verified, it is true that cocoa mulch can be harmful to pets. The lethal ingredient is "theobromine," and the cacao bean shells contain potentially toxic quantities of theobromine, a xanthine compound similar in effects to caffeine and theophylline. It is fairly well known that some animals should not eat chocolate and, according to the experts, that warning applies to cocoa mulch as well.
Most packaging of cocoa mulch makes it clear that it's not for human or animal consumption. It also appears that all cocoa mulch is not the same. One manufacturer, the maker of Mirana cocoa mulch, said that their mulch is the result of a series of processing steps and that the level of theobromine in their mulch is barely detectable.*
*www.truthorfiction.com - Cocoa Mulch harmful to pets
