Vancouver, WA

In todays Inman News, 11/24/08, Patrick Duffy writes a book review of the book Financial Shock: A 360 degree look at the subprime mortgage implosion and how to avoid the next financial crisis by author: Mark Zandi

It is much more succinct than the article I posted of the NPR interview last week on my website blog.

Duffy states: "the book is so comprehensive, it still provides an excellent framework from which to understand the root causes of the crisis, from the mistakes made by Alan Greenspan to the rapid rise of irresponsible lenders who rewrote the rules of underwriting based on their own short-term interests.

And let's not forget a compliant political system and the home buyers eager to join the ranks of owners despite any potential long-term consequences of poor financial decisions.

Beginning with a chapter that explains just how subprime mortgages evolved, Zandi writes in plain English and manages to weave a story with its share of heroes-turned-villains, including politicians pushing for an "ownership society"; a Federal Reserve chairman enamored with deregulation; an enormous amount of global money in search of a big return; financial alchemists getting drunk on their own supposed genius; home builders who ignored the lessons of the past; and bond ratings agencies who kept the entire machine humming because the profits were simply too large to pass up."

Patrick Duffy further mentions Zandi's policies to address or prevent in the future:

"So now that we're in the midst of unraveling and deleveraging the system of subprime mortgages, complex securities and credit default swaps, how do we prevent a repeat of this ugly scenario? Fortunately, Zandi provides his own 10-step program of policies to address a host of issues: from tossing out shady brokers to providing basic financial education in high schools across the country. These steps include the following:

1. Adopt a voluntary mortgage write-down plan

2. Establish clear mortgage lending rules

3. License all mortgage brokers

4. Expand data collection by the government

5. Reform the fractured foreclosure process

6. Invest in financial literacy starting in high school

7. Modify mark-to-market accounting when price discovery is unreliable

8. Raise financial transparency and accounting

9. Overhaul and simplify financial regulation

10. Pay attention to asset bubbles and act accordingly

Seems to me this book would be a good read!

Monday Market Snapshot 11/24/2008

Vancouver Washington at the end of November.

This is that time of year - buyers and sellers are 'going to get back to it after the holidays'. What I've seen in years past is a definite drop in numbers of sellers and lookers from now until that magical time just after Superbowl where buyers come back and Easter when the sellers start testing the market again.

So, our number of active listings is about the same as last week, with 3865 wanting to sell. And a slight decrease of homes with contracts to purchase at 466. With 54 home sales completing in the last week, the numbers suggest a bit of a build up in the ratio of homes for sale versus those that are being sold.

Eighty-five of the (466) pending transactions are 3rd party approval. Not all 3rd party are short sales, but in our market right now, most are. Of the 3865 that are actively seeking buyers, 720 are requiring 3rd party approval, suggesting short sale. About 79 are listed as bank owned.

That means Go Buy Something!Start now and you could possibly be in your new home for Christmas. Just imagine that.

Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you find the best choice in Vancouver Washington. Working with a professional real estate agent (me!) who listens to your needs and works as a trusted advisor to get the best solution to your housing needs will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, I can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit my website for more information.

When doing your Christmas cards this year, take one card and send
it to this address. If we pass this on and everyone sends one card, think
of how many cards these wonderful special people who have sacrificed so
much would get.

A Recovering American Soldier
c/o Walter Reed Army Medical Center
6900 Georgia Avenue,NW
Washington , D.C. 20307-5001

Thanks

Crosby Inspections

Monday Market Snapshot 11/18/2008

Checking in on Vancouver, Washington real estate action

How's the market, now as we head in to the holiday season? Well, the number of listings that are actively seeking buyers has dropped a little (from 3717 to 3682) and the numbe of homes that have an accepted offer has held steady at 492. So, this is not unusual for what typically happens as we approach the holidays. Less competition for sellers, if you're taking note...

The number of homes that are required to have a third party approve the transaction (often the bank) is 709. Of the active listings about 69 are advertised as 'bank-owned'. And they are looking like very good deals!

So my guess is that our market will continue to be strong for buyers, and actually improving for sellers. We are approaching the Season of the Serious. This is the time of year the tire-kickers and lookie-loos will be involved in holiday activities, and waiting. The people who are putting their homes for sale are more likely determined to get the house sold, so more likely to entertain market-pricing. That's good. The buyers that spend time visiting and researching homes are more likely to actually be intending to buy RIGHT NOW. That's good too. I'm cautiously optimistic that our market won't get a lot worse. However, it was last December-January when our inventory jumped (leaped, soared, climbed, rocketed) from 12.7 months to 17 months of inventory. It was absorbed by March, but still pretty major.

You know what. If you are thinking of buying, you better get on it. Investors are buying - not flippers, not speculators - investors. You know, the smart ones. The kind like Warren Buffet, Donald Trump, Robert Kiyosaki.

Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you find the best choice in Vancouver Washington. Working with a professional real estate agent (me!) who listens to your needs and works as a trusted advisor to get the best solution to your housing needs will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, I can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit my website for more information.

My Christmas Shopping at Backyard Bird Shop

I love, LOVE, going into Backyard Bird Shop!

There are probably 43 places in Vancouver, Washington that I could have gone to get some bird seed for my little feathered friends. Many locations closer than the drive to my favorite bird store: Back Yard Bird Shop. I went over there to buy a little 5 pound bag of black-oil sunflower seed. The best part is that it took 40 minutes for me to get out of there!

You may be saying "What?!!!". The reason it is easy to spend 40 minutes buying a bag of bird seed is because of all the wonderful, delightful, interesting and unusual products that are jam-packed into the bird shop.

This store has so many cool things: rain chains, the (un)usual bird and squirrel feeders, bird houses and so forth, but also beautiful greeting cards, interesting garden art, suncatchers, wall hangings, bird baths, kids toys, books, jewelry (yep!), music and more and more. I can hardly get checked out because I find my eyes wandering so often. I did definitely see gifts for 5 of my favorite people in there. I'll know they won't be wanting to return what I get from this store!

The very very best part is that Deborah Karpal (who owns the shop I frequent) has a philosophy of buy local and natural. I love that so many objects in her store are crafted and created by local (Washington, Oregon) artisans. And most of everything in the store is made in America. It gets even better than just American made - one of the jewelry lines is actually made by stay-at-home mothers as a cottage industry. So - buy some beautiful earrings, help a mother work from home! How good would you feel?

Another cool thing about Back Yard Bird Shop is the series of nature walks they host. Check out a store near you and see what's on the calendar.

Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you find the best choice in Vancouver Washington. Working with a professional real estate agent (me!) who listens to your needs and works as a trusted advisor to get the best solution to your housing needs will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, I can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit my website for more information.