Edmonds, WA

The United States Senate has passed the home buyer tax credit extension (and expansion) 98-0 and has sent it to the House of Representatives where House Majority Leader Steny Hoyer has said it will likely get passed and sent to President Obama for signature. 

I thought this would be a good opportunity to share a cartoon that was developed to explain how the tax credit works. The cartoon states that the credit expires at the end of November, but we'll go on the assumption that it'll actually get extended.

EDMONDS, WA -- As I work with prospective buyers, one of the many questions that seems to come up consistently is about crime in particular neighborhoods. Every since the state of Washington required sex offenders to register, this issue has emerged as one of the more visible and often watched pieces of information in the state.

Did you know that there is a website run by the Washington Association of Sheriff and Police Chiefs that allows you to see how many (and what level) of sex offenders live in a particular area? The good news is that this information is really easy to access. You can get sex offender living information from this link. The bad news is that "they're everywhere."

But rather than be a cause for alarm, I think we should realize how much of an issue this is and be mindful of our surroundings and those around us. It's our unfortunate reality these days.

Just click on the county you want to search and then click the "Search" button. You can also sign up for email alerts for your neighborhood.

I hope you find this resource valuable. But dont' let it run your life or become overly freaked out about where you live (or want to live). And don't start witch hunts! :)

Casey

EDMONDS, WA -- Here's an interesting website. If you've ever wanted a web-based view of where crimes happen and what type of crimes, this website might be for you. Unfortunately, it doesn't currently include the cities of Edmonds or Shoreline but perhaps you know someone who might find this interesting.Oddly enough, it does include those high crime areas like Medina and Yarrow Point. Go figure.

You can also check crime data for other states and cities here as well.

Don't freak though. Crime happens everywhere.

Hello fellow mortgage rate seekers and trackers in Edmonds, Washington. I have put together mortgage rates for 30 year, 15 year, and ARM mortgages. I also put together a description what these mortgage rates represent and a calculator so you can price mortgage rates for your own scenarios. I am only a hop, skip, and a jump away for your questions!

Thirty year fixed mortgage rates are based on wholesale 30 year mortgage rates and individual risk factors such as credit, loan to value, and occupancy. The most accurate way to track mortgage rates is to just look at the wholesale rate from Fannie Mae, Freddie Mac, or Ginnie Mae. The wholesale mortgage rate for Fannie Mae is known as the Fannie Mae Required Net Yield 30, 30 Day delivery and it is a fundamental basis for conforming 30 year fixed mortgage rates. To everyone else in Edmonds, I present the history of it below:

If you who would like to know how this wholesale mortgage rate translates into the rates and costs offered to you after risk and costs are added, my 30 Year Fixed Mortgage Rate and Cost Calculator is available online and provides mortgage rate pricing and analysis for scenarios you input.

Fifteen year fixed mortgage rates show much smaller changes in daily mortgage rates. The rapid payoff of principle under a fifteen year fixed mortgage causes these mortgages to be considered much safer investments. This makes these mortgage rates lower and more stable compared to 30 year fixed mortgage rates. One wholesale 15 year fixed mortgage rate basis is below:

Adjustable mortgage rates fluctuate a great deal based on current money markets and expectations in changes to money markets. Three, five, and seven year adjustable rate mortgages are the most common and I present one wholesale 7 year ARM mortgage rate basis below:

Please keep in mind these represent the wholesale cost of money and do not include any risk or lending costs or fees. If you would like to see an example of how one of these products translate into mortgage rates and cost for your exact situation please use my 30 year fixed mortgage rate and cost analyzer to input your rough situation and fill in the comment section at the bottom with your contact information and the mortgage products you would like to see. Or just take a hop, skip, and a jump and come see me in person!

Stephen Ching 510 LO 35993

Steve@rateswire.com or by Cell 425 344 2191

Mortgage Loan Center, LLC

22019 Highway 99 #B Edmonds WA 98026 (425) 640 9789

EDMONDS, WA -- As of today, November 4, it looks like we are seeing some real momentum with an extension and expansion of the home buyer tax credit. First, and simply, it looks like the $8,000 first-time home buyer tax credit will get extended until some time in the spring of 2010. What's unclear right now is how much, if any, type of tax credit will be provided for current homeowners who might want to "buy up." Several bills have been introduced in both the House and Senate and it's still unclear as to which, if any, will win out.

One thing I have seen that I do not like: there are some versions of expansion bills that require homeowners to have lived in their homes for a minimum of 5 years to qualify for the expanded (non-first time home buyer) credit. Why cut out the others? It seems wholly unfair to me to leave out those who would like to move up but aren't afforded the opportunity to get a tax break (in this economy no less!) because they have lived in their homes for "only" 4 or 3 or 2 years. Even the homestead law allows them to take tax free capital gains on their homes if they've lived in them for just 3 of the past 5 years.

Rather than add to the confusion, you can read for yourself the myriad of news reports on the various bills and where they stand. Keep in mind what they say about laws and sausages: two things you never really want to see made.

News link updates on the home buyer tax credit:

• UPI story reporting expansion to home buyers through June 2010
• Washington Post article on $6,500 credit for existing homeowners (5+ years only)
• CNBC article questioning the tax extension
• Politico.com story on Senate Banking Chair Dodd in support of extension/expansion
• Seattle P-I report on the extension/expansion
• WSJ Q&A on the extension and expansion of the tax credit
• Bloomberg article that quotes many lawmakers

Happy reading!

Casey