Karen Villa Schweinfurth, ABR, CRS, SRES, CyberStar

In the world of real estate, there can be an overwhelming amount of items on the agenda. Having the assistance of those in the industry can be a big part in accumulating the right information to making the crucial decision. The path to home ownership is a great accomplishment that will also make for additional responsibilities. Many homes will also require repairs or remodeling. Washington and Snohomish residents seeking to buy or remodel a home built prior to 1980 should be aware the potential for asbestos laden materials remains a possibility.

This by no means should make you incredibly frightened because exposure to asbestos can be easily avoidable by undertaking simple measures. There are now many eco-sustainable options that make the use of asbestos obsolete. Located on the Pacific Northwestern part of the United States, industries such as chemical plants, paper mills, shipyards and oil refineries heavily used asbestos due to its intrinsic flame resistant and durable qualities.

It should be known that not all asbestos is considered harmful. In most situations, asbestos that is in good condition should be left un-disturbed. If its damaged fibers become airborne, long term exposure can cause pleural mesothelioma, a rare but severe lung ailment. Although significant progress has been made with mesothelioma treatments, many variables affect a patients prognosis. These include age of diagnosis, latency period and cigarette smoking.

If you locate any suspected asbestos, most experts advise to leave it alone. A home inspector can determine the validity of toxicity present. In most cases, the best action is no action in regards to asbestos. However, if removal is necessary, it must be performed by a licensed abatement contractor who is trained and licensed to deal with hazardous materials.

Fueling many aspects of life in Washington, environmental sustainability is on the minds of citizens of Snohomish County. Citizen based environmental advocacy organizations such as Environment Washington push independent research and a tough minded approach to tackle Washington's special interest groups.

With a constant progression in technology and green ways of construction, these methods will produce a healthy lifestyle and save you money. One the removal is complete, green insulation options should be given serious consideration, such as: cellulose, cotton fiber and lcynene. Statistics show that the lcynene foam, for example, can cut energy costs by about 25 percent annually, according to studies done by manufacturers. The implementation of healthy construction materials is also allowing less waste going to the nation's already crowded landfills.

For more information contact:

Jesse Herman
Mesothelioma Cancer Center
jesse@asbestos.com

Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the "conforming loan limit." Loans above this limit are known as jumbo loans.

The national conforming loan limit for mortgages that finance single-family one-unit properties increased from $33,000 in the early 1970s to $417,000 for 2006-2008, with limits 50 percent higher for four statutorily-designated high cost areas: Alaska, Hawaii, Guam, and the U.S. Virgin Islands. In 2008, legislation was passed that temporarily increased the one-unit limit to up to $729,750 in certain high-cost areas in the continental United States. That legislation, the Economic Stimulus Act of 2008 (ESA), applied to loans originated between July 1, 2007 and December 31, 2008.

Loan limits for mortgages originated in 2009 are set under the provisions of the American Recovery and Reinvestment Act of 2009. Under that legislation, loan limits for 2009-originated loans are set at the higher of the 2008 limits and those that were originally announced for 2009 under the terms of the Housing and Economic Recovery Act of 2008. It appears that rates for Snohomish county will be increased. Please check back for updated information as it happens.

Here is a chart of what we currently have:

1 unit 2 units 3 units 4 units

Clark County WA $ 418,750 $ 536,050 $ 648,000 $ 805,300

Jefferson County WA $ 437,500 $ 560,050 $ 677,000 $ 841,350

King County WA $ 567,500 $ 726,500 $ 878,150 $ 1,091,350

Kitsap County WA $ 475,000 $ 608,100 $ 735,050 $ 913,450

Pierce County WA $ 567,500 $ 726,500 $ 878,150 $ 1,091,350

San Juan County WA $ 593,750 $ 760,100 $ 918,800 $ 1,141,850

Skamania County WA $ 418,750 $ 536,050 $ 648,000 $ 805,300

Snohomish County WA $ 567,500 $ 726,500 $ 878,150 $ 1,091,350

For ALL your real estate needs visit my web site. Search for homes in all of Washington, do your own market analysis or get great real estate information and updates.

Karen Villa Schweinfurth, RE/MAX Northwest Realtors - 425-308-3669

Having just cleaned out my desk recently with my new business plan in place, I found an old newspaper, The Everett Herald, from March 1992. The headlines read: "Boeing Gives Layoff Slips to 3,000"; "Unemployment rate rises to highest level in more than six years" - 7.3%.

And then I compare the headlines with a more recent post February 2009: "Boeing Gives Layoff Notices to 6,000", Unemployment rate rises to 7.1% in Snohomish County in December 2008".

Catch any differences, probably not. It's the real estate cycle. We just happen to be in the "down cycle" but remember, what goes down, needs to come up. It will take awhile, but it will happen.

It's a great time to buy in the Snohomish County area. With rates at an all time low, still plenty of inventory, and seller concessions, buyers hold the upper hand. Well you say, "I need to sell to buy". OK, the key is to price your home realistically to sell and make it up on the buying end.

For expert advice in the Snohomish County area, call Karen Villa Schweinfurth 425-208-3669, or email: karen@karensvillas.com. Also visit my web site for ALL your real estate needs. Search for properties in all of Washington, get buyer/seller tips, financing information, do your own market analysis. It's all there for the taking.

Hope you find this information helpful. Make it a great day where you are.

Here's some information regarding the current rate market:

Although home loan rates are very attractive now, the picture could be quite different as some inflationary factors will likely come to light heading into summer.

Oil prices may be on the rise as we approach the summer driving season, some of the economic stimulus might begin to take hold, corporate cost-cutting measures could start to bear fruit, and, perhaps most importantly, the Fed will no longer be a buyer of mortgage bonds.

These are all ingredients in a recipe that could very easily result in significantly higher interest rates this summer. If you have been thinking about acting on a home loan, this may be the best time.

Homes are on sale, sellers are motivated and interest rates are at historic lows...but things may not stay that way, which means it makes sense to get moving on that home purchase or refinance you've been contemplating.

But if you are among one of the smart individuals who are going ahead and taking advantage of the low home loan rates to be had right now, there are a few things to be aware of.

With interest rates at record lows, lenders have seen a sharp increase in loan applications - just at the time many lenders have cut headcount to save money in a challenging economy. This means that time frames needed for underwriting, approvals and closing have become longer than normal.

Consider loan locks to ensure that your loan file has time to be processed, underwritten, approved and closed in time to protect the rate lock in this volatile climate.

Respond quickly to requests for information or documentation. The faster the file is submitted and approved, the better off you are to keep your rate protected.

Finally, be aware that it may be a smart idea to pay points to gain the best interest rate. Ken has a special program that he can address with you. Using seller paid costs to lower your rate a quarter or half percent can lower your payment by a couple of hundred dollars.

If you would like to check your financial status to see if you qualify for a first time purchase, moving up, buying an investment property or refinacing, call my lender, Ken Allen, Branch Manager with MetLife Home Loans. You can reach him at 425-670-2418 or ken@kenallen.com. Be sure to ask Ken about his rate buy down program.

After a RE/MAX office meeting last week, word out of our Seattle office is that the Seattle market is "heating up", multiple offers are being seen and inventory is being eaten up.

Typically, that activity moves North up to Snohomish County within a couple of months.

While I was showing homes to buyers this past week I noticed an increase in showings as agents were standing in line to show properties I was in.

Once the inventory is diminished we should see the prices increase and sellers will be less willing to negotiate.

The time to act is now before the market takes an upswing.

For ALL your real estate needs, call Karen Schweinfurth 425-308-3669 and visit my web site at www.karensvillas.com

Karen Villa Schweinfurth, ABR, CRS, SRES, e-PRO, RE/MAX Northwest Realtors

Here are some commonly overlooked tax deductions. As always, please check with your tax professional:

$250 of education expense of college tuition

Student loan interest paid by mom and dad

Out-of-Pocket Charitable Contributions

Moving expenses to take first job

Military Reservist travel expenses

Child care credit

State tax on income respect of a descendent

State tax you paid last Spring

Refinancing Points

Reinvested dividends

Jury pay paid to employer

Pay off debt with a home quity loan rather than credit cards

Contribute old clothes, furniture and other items to charity

You can write off mileage you incur for charitable organizations

"Bunch" deductions together to overcome "floors" or minimums

Remember that job searching expenses are deductible

Keep track of investment expenses

Remember business supplie or business-related gifts

Tax planning advice is deductible

Special medical equipment or treatments are deductible

Self-employed owners may be able to deduct the costs of hiring their children as workers