Puyallup, WA

The deadline for First Time Home Buyers to receive the $8,000 tax credit is approaching very quickly. I know Realtors have been doing everything they can to promote this, and increase the public awareness, but I am amazed by how many people I talk to that are nearly oblivious to it.

The last time I really addressed this issue was when the Washington State Housing Finance Commission decided they were not participating in any kind of "bridge Loan" program to allow FHA buyers to access the Tax Credit proactively, and use it for a down payment. This was unfortunate as a lot of credit worthy buyers were simply unable to save up enough to cover the 3.5% down payment necessary for an FHA loan when the $8,000 would cover this completely. Granted, FHA still allows for gifting of the down payment from a direct relative, or true non-profit entity that they recently revised yet again, but in our current economic circumstances, only a few lucky buyers have that option.

There have also been a few issues with the acceptable organizations such as Tacoma Down Payment Assistance, and Pierce County Down Payment Assistance running out of available funds. Again, this is due to the economy we are in as there is increased competition for the Bond investment dollars used to fund these types of programs. There are only so many investment dollars, and specifically bonds, available right now. The good news is they are now expecting funding any day, but it may be too late for some.

In light of all these things, I have been hearing more people calling for an extension of the Tax Credit. There has been some movement on this, and I recently wrote a blog for Puyallup First Time Home Buyers on a local realtor's website. However, keep in mind that regardless of how much we in the real estate industry may want something, it is up to our elected leaders in the legislative branch of government to make it happen.

Ron Brown FHA & VA loan Specialist First Mortgage Company of Washington

SHORT SALE opportunity in Puyallup!! 2 bd 2.25 ba 1220 sq ft town home in well maintained Norwood Condominiums. Oversized attached garage, private fenced backyard, end unit. Master bedroom with double closets and 3/4 bath. Located off of Shaw road close to shopping and Sounder commuter train. Perfect starter home just needs carpet and paint. be sure to check out the hidden storage/play room in upstairs closet. Won't last at this price.$119,921. MLS#29130595 Contact Jeff Stobie at 253-222-4791 or jeffstobie@yourchoicere.com

www.yourchoicerealestatenw.com

Time is running out to refinance your Puyallup FHA Mortgage under the old FHA guidelines for Streamline Refinances. The ability to finance in closing costs without an appraisal will be ending on Jan 1, 2010 making it difficult to refinance if your property value has fallen.

We are also doing a lot of No Closing Cost FHA Streamline's. Instead of adding $10,000 onto your existing loan balance, let us pay your closing costs with the lender's money. You typically won't find these options at Bank of America, Chase or Citibank.

As of 10/1/20009, interest rates are near the lowest point of the year, take advantage before rates go back up or the FHA Streamline Refinance Program changes. For more information, call (253) 472-1500 or visit us online at www.fhamortgagepuyallup.com

Kevin, Joel & I would like to say thank you with all of your help with our refinance. We appreciated your honesty and willingness to answer all of our questions. You were very patient and made the process smooth and painless. Sincerely, Kristin & Joel

Effective for all case numbers assigned on or after January 1, 2010, the validity period for all appraisals on existing and proposed and under construction properties will be 120 days. This change aligns FHA's requirements pertaining to the validity of an appraisal with current industry practices.

This is a change from the current validity periods of six months for an appraisal of an existing property that is complete, and 12 months for proposed and under construction properties.

FHA Home Loans Tacoma | FHA Mortgage Rate Tacoma | FHA Mortgage Information

http://www.fhamortgagetacoma.com

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Hot Summer Nights in Puyallup

Ahhh... Summer in Puyallup - those 7 days every year where the temperature gets warm, the breeze dies down along with my lawn, and the locals begin to yearn for the 358 days of rain we usually get around here. Well you may have noticed, those 7 days are here. So what do you do with yourself to both beat and enjoy the heat? Try this...

The Puyallup Concerts in the Park series is underway, and this Thursday 7/30/09, I would like to invite you all to come out and enjoy some excellent musical entertainment. Pioneer Park (Downtown Puyallup, 324 S. Meridian - right across from the new City Hall building) just unveiled their new outdoor concert stage, and this Thursday evening from 6:30 - 7:15 it will feature:

Michele Leach & Kerry Yanasak - Piano Duo

Michele (my wife, by the way) and Kerry have been performing at the Puyallup Spring Fair for the past several years. Playing on two full size Concert Grand pianos, they'll perform an eclectic mix of pop, classical, ragtime, and easy listening standards - very unique and very enjoyable.

At 7:30 - 8:30, Darren Motamedy - a very well known, super-talented Jazz Saxophonist will perform. And rumor has it that in between the two shows the reigning Miss Washington will do a short piano performance too. (I hope she's really good because she'll be performing after Michele - my reigning Mrs. Universe - and that's a tough act to follow!)

So bring your lawn chairs or blanket, a cool drink and some sunscreen, and come enjoy some Downtown Puyallup culture and some great music. There is a Forza Coffee Bar adjacent to the park that makes some awesome frozen coffee drinks which is where I'll be getting my tall cool one to help beat the heat.

And if you want to try something different for dinner - try Lucky's Dog House Diner at 106 W. Main - a couple blocks from the Park. A full menu of amazing hot dog meals - I heartily recommend the Chicago Style Vienna Beef dog - great stuff! Grab a dog and window shop down Meridian Street's antique row as you head over to the Park.

(Note: There are typically 1,000 - 2,000 people at these things, so come early to grab a shady spot and a parking spot not too far away.)

Free entertainment and a fun night out. Hope to see you all there!

Vienna Beef Chicago Style Dog - photo: glen edelson