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There is a short week a head with all the markets closed on Thursday and only a half day on Friday. Some economic notes to mention, Consumer Price Index (CPI) registered 0.3%and the Core CPI at 0.2%. With that said, the Federal Reserve will be leaving us minutes on Tuesday. I’m guessing the Fed WON’T cut rates for December at this point. The economy is still quite jittery regarding the housing pressure and retail sales short in October putting pressure on the market. Maybe a sprinkle of good news starting the holiday season, Wal-Mart released “way better” than expected earnings for the last quarter. Also nicely noted, the following BIG retailers showed good earnings:

• Nordstrom
• Barnes & Noble
• Target
• Whole Foods
• Gap
• GameStop
• Limited

Who knows, we may be in for a fun and filling week! Enjoy!

Current Rates

30 Year Fixed: 6% (APR 6.125%) - Unchanged

30 Year Fixed with 10 Year Interest Only: 6.25% (APR 6.363%) - lower

40 Year Fixed: 6.25% (APR 6.356%) - Lower

5/1 ARM (2/2/6 caps): 5.625% (APR 6.578%) - Higher

5/1 ARM 10 Year Interest Only Payments: 5.625% (APR 6.834%) - Unchanged

FHA/VA 30 Year Fixed: 6.375% (APR 6.813) - Unchanged

JUMBO (Non-Conforming) Rates

30 Year Fixed: 6.875% (APR 7.005%) - Higher

30 Year Fixed with 10 Year Interest Only Payments: 7.00% (APR 7.120%) - Higher

5/1 ARM: 6.625% (APR 6.741%) - Higher

5/1 ARM Interest Only: 6.750% (APR 6.867) - Higher

Conforming loan limits are currently up to $417,000 and Jumbo loan limits are $417,001-$650,000. Quotes above are based on 30 day pricing with a 1% loan fee and a credit score of 680 or better. Quotes are also based on full loan documentation files and a minimum of 5% down. If you are planning on putting less than 20% down you will need Private Mortgage Insurance or a second mortgage to cover the difference.

The programs above are only a sample of what is available. Rates were published Monday, November 12, 2007 @ 10am and are subject to change.

For further information on any of these programs or additional programs, please feel free to email me or give me a call on my direct line (425 820-0601) or my mobile.

Are the turbulent storms of last week over yet? Wall Street took a 552 point fall for the Dow while Citigroup, Wachovia and GM took big hits in the financial sector. What’s next? Big Ben told congress that he expects the U.S. economy to slow “noticeably” and still feels there are strong possibilities of inflation.

However….the facts so far support some control: Q3 productivity rose 4.9% and unit labor costs dropped 0.2%, so inflation stays under control. In addition, Initial Jobless Claims came in at 317,000, way below expectations and the lowest reading in a month.

Here are some fun little facts I found:

1. OIL AND MILK - If the price of a gallon of milk is $3.89, then a barrel of milk would cost $163.38 (note that 1 barrel equals 42 gallons). The price of a barrel of oil closed last week at $96.32 (source: BTN Research).

2. WE’RE # 1 (AGAIN) - The 3 most competitive economies in the world according to a Switzerland-based think tank are 1) the USA , 2) Switzerland and 3) Denmark The US has been top-ranked for the last 3 years (source: World Economic Forum, Financial Times).

3. I’M A LITTLE SHORT THIS MONTH - 1 out of every 29 mortgages in the USA was delinquent with their required monthly payment at the end of the 3rd quarter 2007. At the end of calendar year 2005, the ratio was 1 out of every 48. (Source: Equifax, Wall Street Journal).

4. BIG BUCKS FOR THE FIFTH GRADER - The average cost for 1-year of college education at an in-state public college is $13,589 for the 2007-08 school-year (cost includes tuition, fees, room and board). The total 1-year cost has increased +6.5% per year over the last 30 years. If that same annual rate of inflation continues into the future, then a 5th grader today will ultimately pay $100,000 for his/her 4-years of public college education during the years 2015-19 (source: College Board).

Current Rates

30 Year Fixed: 6% (APR 6.125%) - Unchanged

30 Year Fixed with 10 Year Interest Only: 6.25% (APR 6.365%) - Lower

40 Year Fixed: 6.250% (APR 6.358%) - Lower

5/1 ARM (2/2/6 caps): 5.625% (APR 6.434%) - Higher

5/1 ARM 10 Year Interest Only Payments: 5.625% (APR 6.834%) – Unchanged

FHA/VA 30 Year Fixed: 6.375% (APR 6.813) - Unchanged

JUMBO (Non-Conforming) Rates

30 Year Fixed: 6.750% (APR 6.881%) - Higher

30 Year Fixed with 10 Year Interest Only Payments: 6.875% (APR 6.995%) – Higher

5/1 ARM: 6.250% (APR 6.914%) - Unchanged

5/1 ARM Interest Only: 6.250% (APR 6.680) - Lower

Conforming loan limits are currently up to $417,000 and Jumbo loan limits are $417,001-$650,000. Quotes above are based on 30 day pricing with a 1% loan fee and a credit score of 680 or better. Quotes are also based on full loan documentation files and a minimum of 5% down. If you are planning on putting less than 20% down you will need Private Mortgage Insurance or a second mortgage to cover the difference.

The programs above are only a sample of what is available. Rates were published Monday, November 12, 2007 @ 10am and are subject to change.

For further information on any of these programs or additional programs, please feel free to email me or give me a call on my direct line (425 820-0601) or my mobile.

Those look good don’t they! The 50^th consecutive month of jobs growth. 166,000 new jobs were created in October, twice the number than expected. That has to say something about our economy doesn’t it?

Do you want to hear about a few more economic stats? How about the Q3 GDP @ 3.9%, Personal Consumption up 1.8% and of course unemployment previously stated holding steady at 4.7%. Let’s continue to watch what happens out there. If these types of numbers continue to prevail, it COULD be a good time to buy. With people making more money and saving more, how can that be bad!

Current Rates

30 Year Fixed: 6% (APR 6.125%) - Unchanged

30 Year Fixed with 10 Year Interest Only: 6.375% (APR 6.491%) - Unchanged

40 Year Fixed: 6.375% (APR 6.484%) - Unchanged

5/1 ARM (2/2/6 caps): 5.50% (APR 6.753%) - Lower

5/1 ARM 10 Year Interest Only Payments: 5.625% (APR 6.834%) - Lower

FHA/VA 30 Year Fixed: 6.375% (APR 6.813) - Unchanged

JUMBO (Non-Conforming) Rates

30 Year Fixed: 6.500% (APR 6.629%) - Unchanged

30 Year Fixed with 10 Year Interest Only Payments: 6.625% (APR 6.713%) - Unchanged

5/1 ARM: 6.250% (APR 6.914%) - Unchanged

5/1 ARM Interest Only: 6.375% (APR 6.970) - Unchanged

Conforming loan limits are currently up to $417,000 and Jumbo loan limits are $417,001-$650,000. Quotes above are based on 30 day pricing with a 1% loan fee and a credit score of 680 or better. Quotes are also based on full loan documentation files and a minimum of 5% down. If you are planning on putting less than 20% down you will need Private Mortgage Insurance or a second mortgage to cover the difference.

The programs above are only a sample of what is available. Rates were published Monday, November 5, 2007 @ 10am and are subject to change.

For further information on any of these programs or additional programs, please feel free to email me or give me a call on my direct line (425 820-0601) or my mobile.

Many buyers have been pondering the decision of whether or not to buy a home over the past few months. It’s no wonder - it has been a scary market out there. With so much news focused on the turmoil caused by the increase in mortgage defaults, foreclosures and mortgage houses closing their doors, it seems like it is all doom and gloom. The reality though, is that it is not doom and gloom at all. In my opinion, if buyers continue to sit on the fence, they may miss out on some opportunities that currently exist in the market.

Interest rates are still historically low. Going back the last 30 years, a 30 year fixed still is averaging around 9.4% or about 3.4% higher than where we are sitting at today. What has changed is the amount of documentation needed to get those loans. With the right loan officer you can be guided through the increased documentation requirements.

Along with the historically low rates, you can still get FHA assistance with down payments. While, most down payment assistance programs were shut down on October 31, 2007, non-profit group, Nehemiah, received a six month extension.

If low interest rates and down payment assistance programs aren’t opportunity enough, how does being in a very strong position at the negotiating table sound?While most sellers aren’t considering ridiculously low offers, they are considering more concessions than they have in the past. Sellers are making these concessions because there is currently a surplus of inventory available for buyers to choose from. In fact some buyers are so confident in their negotiating position, that they made five offers at the same time just to see which offer “stuck”. In that situation, it was the seller that was willing to give the most that “won”. That said, many buyers are in a good position to save thousands of dollars on the purchase price or their closing costs (by having the seller pay them). This can be very helpful as it can reduce your mortgage and/or conserves cash, reserving extra monies for important things like furnishing a new home.

So if you have been thinking about taking the plunge and want to take advantage of the wonderful opportunities currently available to buyers, my suggestion is to stop sitting on the fence and start exploring some of the opportunities that exist.

I just recently stumbled across another wonderful park in our area - Pine Lake Park. While it is not in Issaquah Highlands, it is just a short drive away on the Sammamish Plateau at the corner of NE 24th and 228th.

The park not only features a lovely lake, as seen above in a photo taken earlier this week, but there is a wonderful playground for kids as well. There are two different play structures that are in great condition as well as swings (toddler and regular) and a play field. One aspect of the park that I am looking forward to using in the future is the swim area. Pine Lake has life guards during the summer months and there is even an area set aside for lap swimming.

No matter what the weather, Pine Lake is a lovely area to enjoy the great Northwest.

One of the aspects of living in Issaquah Highlands I love is the Urban Village concept. The community is geared toward pedestrians and is within walking distance to alternative transportation. With a network of sidewalks and trails woven throughout the neighborhood, it is easy to walk or bike from place-to-place. As mentioned in a previous post, the streets are definitely scaled for walking and biking rather than cars and trucks. And last but not least, many of the homes throughout the community trade their front load garages for front porches which encourages social interaction with neighbors and the passersby.

That’s where this great new tool comes in to play. WalkScore is a tool that helps helps people find “walkable” places to live. The tool has location data on stores, schools, restaurants, parks,ect. which it uses to calculate the “walkability ” of an address. Why is this important? Well, for one thing, walking is just good for you and the environment. It also helps build stronger relationships within the community you live by getting you outside and physically interacting with the real world. Plus it’s just convenient; at least will be when we get more retail in the Issaquah Highlands.

So what is the WalkScore of Issaquah Highlands? Great question. And to be honest, the answer was quite disappointing. WalkScore give Issaquah Highlands a WalkScore of 25 out of 100 (Not Walkable). This will change over time as our retail are gets built out, but at least for now, downtown Issaquah is right down the hill and it has a WalkScore of 80 (Very Walkable).

What’s the WalkScore from your house? Check it out!

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