About Chelan County, WA

In a post in Newgeography, the racial aspect of urban planning was examined. The standard examples of urban areas that top the progressive lists of media, academia and planning circles are Portland, Seattle, Austin, Minneapolis, and Denver.

If you take away the dominant Tier One cities like New York, Chicago and Los Angeles you will find that the "progressive" cities aren't red or blue, but another color entirely: white.

In fact, not one of these "progressive" cities even reaches the national average for African American percentage population in its core county. Perhaps not progressiveness but whiteness is the defining characteristic of the group. - The White City | Newgeography.com

Portland, often held as the ultimate example of New Urbanism, has less than half the national average of African American citizens. It is really the ultimate White City.

We've already seen how planning and growth management contribute to high costs of housing and price volatility. Read this whole article and decide for yourself if local land use policies decrease diversity. Then, for kicks, look at the Manson Subarea Plan and see if you think it encourages, or discourages, population diversity.

It looks like we haven't heard the whole story on the Home Buyer's Tax credit yet. The IRS is examining more than 100,000 suspicious returns that claimed the credit. So, buyers who claim the credit need to beware for the possibility of an IRS audit!

It appears that others are questioning the cost of this poorly targeted benefit as well.

Ted Gayer, an economist at the Brookings Institution, a liberal think tank based in Washington, estimated that the current credit costs the government about $43,000 for each additional home sale it generates, because most of the two million or so home buyers expected to claim the credit would have bought a house anyway. Expanding the credit to all home buyers would raise the government's cost per additional home sale to more than $250,000, he said. - WSJ

It hardly makes news anymore that another government plan is rife with fraud:

Bonnie Speedy, national director of AARP Tax-Aide, a volunteer service for low-income people, suggested that abuse of the home-purchase credit appeared to be widespread, in part because of relatively loose standards for claiming the credit.

The credit "has some fraud issues because it's not being done at the time of the sale," said Ms. Speedy. "People are filing for the home credit who don't have a right to file for it." Taxpayers don't have to file their claims as part of a real-estate transaction and instead can file or amend their income-tax returns to claim the credit. -ToughMoneyLove.com

Now we have even more reasons NOT to extend the credit like the National Association of Realtors is lobbying furiously to do. Aren't you just excited to have these folks in charge of your health care options?

Here's the new Pacific Appraisal Wenatchee Snapshot Report. Things are holding fairly steady in Wenatchee, below last year but not bad compared to most of the world.

Check it out!

There are currently only 13 pending sales in the entire Lake Chelan MLS. I can't remember a number that low before. Even early this year, the number stayed in the twenties and thirties. In the more robust markets of a couple years ago, pending sales were in the forty and fifty range.

So, thirteen pending sales is a pretty low number! That number is particularly low when you consider that any sales spurred by the pricy First Time Buyers Tax Credit have to close by the end of November. The market couldn't have possible already reacted to the IRS auditing those filing for the tax credit yet...

Loan Modification Leavenworth, Wenatchee, Ellensburg, Washington

Over the last few years, a rising number of Leavenworth, Wenatchee, and Ellensburg, Washington homeowners have seen the value of their homes fall to less than the amount they owe on their mortgage loans, while the average income has dwindled to make mortgage payments impossible to afford. As interest rates continue to raise, adjustable rates jumping to high fixed rates, and home values falling, refinancing is no longer a financially sound option for most, leaving the necessity for a mortgage loan modification.

Under the HAMP program, a homeowner’s mortgage payment cannot exceed 31% of their gross income. Since most home loans exceed 31%, the vast majority of borrowers are technically eligible for HAMP assistance. Homeowners can immediately determine what your current mortgage debt-to-income is and how much your monthly payment may be reduced if you qualify for Obama's Loan Modification Program.

Loan Modification:

• Lowers the homeowner's monthly payments;
• Lowers the loan's interest rate;
• Swaps a rising adjustable rate for an affordable fixed rate;
• Reduces the principle balance of the property;
• Corrects payment delinquencies and defaults;
• Adjusts the length of the loan terms

Eligible Leavenworth, Wenatchee, and Ellensburg, WA homeowners now enduring financial hardships such as credit card debts, loss in income, unemployment, a bad mortgage, or other financial circumstances, can get approved for a 4% mortgage refinancing and modification plan under President Obama’s “Making Home Affordable” plan.

With a loan modification a homeowner is able to refinance the debt and/or extend the term of your original mortgage loan, making the monthly payments affordable and build any missed payments into a new 30 year loan. With help from new government regulations, a mortgage loan modify is easier and more beneficial than ever before. Loan modification makes it affordable for you to make your monthly payments, and also allows you to catch up on your missed payments.

Leavenworth, Wenatchee, and Ellensburg, Washington homeowners will be able to save millions by getting a home loan modification or mortgage refinance using President Obama’s “Making Home Affordable” plan. Even borrowers who have been denied a refinancing or home loan modification in the past have been having success with Obama’s mortgage refinance bailout plan.

Though not every single loan is fixable and some homeowners are still being denied, under new modified regulations, lenders must now accept applications from every homeowner seeking loan modification help. Even those borrowers who have been denied a loan modification in the past will now be able to reapply for a loan modification.

Any Washington homeowner facing foreclosure, or who is about to be facing foreclosure, should immediately begin exploring all the options available, including new government programs designed to help you get a successful loan modification and save your home.