Edmonds, WA

What is RESPA?
The Real Estate Settlement Procedures Act (RESPA) guides those in the residential lending world on how to disclose important facts about the costs of buying a home. HUD is requiring that loan originators provide borrowers with a standard Good Faith Estimate that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a new "HUD-1" settlement statement. New RESPA regulations were published November 17, 2008 and are scheduled to take full effect on January 1, 2010. The "New RESPA Rule FAQs" were comprised from industry questions and are posted to facilitate implementation of these new requirements.

Rather than try and explain it all hear, I'm providing a link to HUD's website where you can read all the information for yourself.

Casey

We've all heard the mantra about being thankful and giving of your time, talent and resources during the holiday season. And it's true; we should. And not just in November and December but at all times.

But if this is the first time you've done something, consider giving back by thinking locally. Here are some ways to give during Thanksgiving in Edmonds, WA:

• Annie’s Community Kitchen provides free meals from 5 to 6:30 p.m. every Wednesday at Edmonds Lutheran Church, 23525 84th Ave. W., Edmonds WA 98027, and needs volunteers to help prepare, serve and organize food, wash dishes and collect donated food. More info: 425-744-8090.
• Edmonds Community College Foundation, 20000 68th Ave. W., Lynnwood, WA 98036, supports access, success, and excellence for students, faculty, and staff at Edmonds Community College. Cash and vehicle donations are needed. More info: 425-640-1274 or www.foundation.edcc.edu.
• Edmonds Food Bank, 828 Caspers St., Edmonds, WA 98020, is located at Edmonds United Methodist Church. Food and cash donations are needed. Donations are accepted through the north door of the church from 9 a.m. to 8:30 p.m. More info: 425-778-5833.
• Need some help with dinner this year? Thanksgiving at Westgate Chapel in Edmonds is open to anyone who would otherwise spend the holiday alone or not have enough money to feed their family. This will be the 15th year that Westgate has put on this dinner. Organizers encourage attendees to arrive one hour early for hors d’ouvres and family photos. Westgate Chapel is located at 22901 Edmonds Way.

Have a wonderful Thanksgiving,

Casey

An article in the Seattle Times reported that for October 2009, the Washington state unemployment rate was 9.3%. If you factor in the underemployed-people who have stopped looking for work, people who work part time, but would rather work full time-you arrive at a unemployed, underemployed rate of 16%.

Here are some unemployment figures for Washington state, King and Snohomish counties.

• Washington state unemployment for October 2009---9.3%
• King county unemployment for October 2009---8.7%
• Snohomish county unemployment for October 2009---10.2%

In October 2008, the Washington state unemployment rate was 6.3%. IHS Global Insight, a consulting and forecasting firm predicts that Washngton state won't return to it's peak employment rate until 2012. juju.com, a job search site, recently ranked Seattle 20th out of 50 metro. areas in terms of job hunting ease.

If you can handle the uncertainty of the job market, the present time is an excellent time to buy residential real estate in the Seattle metropolitan area. The factors making this an excellent time to buy are: 1) record low 30 year fixed interest rates of approx. 4.9%, 2) Prices on properties that are 30% lower than they were 3 years ago 3) Attractive tax credits of up to $8000 and $6500 from the U.S. Gov't for qualifying purchasers 4) Sellers willing to contribute toward buyers closing costs.

I am also offering some excellent buyer bonuses. For details go to my website www.davidsundquist.com

To search for homes in the Seattle metropolitan area using a state of the art search engine clik on: www.homes2profit.com

Here is a link to an excellent website published by the National Association of Home Builders about frequently asked questions about the Move-Up/Repeat Home Buyer Tax Credit. click here to view: http://www.federalhousingtaxcredit.com/faq2.php

Not only can you now get an unprecedented tax credit, but you can also get excellent buyer bonuses if you purchase your property through David's team. If you qualify for the credit and you want to search property on the finest real estate search engine in the Seattle metro. area, just click here: www.homes2profit.com

Here's a 3-minute cartoon video on closing costs and how they work. When inquiring about home mortgages, be sure to ask your lender for a "Good Faith Estimate" which outlines your likely costs when buying a home - be it a condo, townhouse, or detached single family house.

Drop me a line if you have questions (none are too dumb to ask!) or want a referral to some very trustworthy people.