Localism: Woodinville, WA

A Better Avondale Committee is Making a Difference!

Wed, 26 Nov 2008 17:13:41 -0600

Have you seen these signs along Avondale?

Have you wondered what it is all about?

This is a fabulous example of a people coming together for a common cause and working to make a difference! Their goals are to improve the safety and decrease the noise along Avondale. Since May they have successfully launched a website, conducted meetings that have been attended by - regional politicians and Avondale is now on the project lists for several departments.

So what are the goals?
Increase Safety & Reduce Noise - specifically by

Getting the road repaved with Asphalt Rubber which is quieter and safer.
Slow the road traffic down to the speed limit - which increases safety and reduces noise.

The Results?

Last Summer there were temporary radar signs along Avondale - it worked
Early 2009 there will be two permanent radar speed signs installed along Avondale
Read the announcements
Avondale is on the "Radar" of key government officials - Linda Dougherty (KC Roads Division Director), Harold Taniguchi (KC Transportation), Kathy Lambert (King County Council Member), Ron Sims (King County Executive), Roger Goodman(State REpresentative) and more.

Want to learn more - want to get involved? Please go to the www.ABetterAvondale.org website and sign up for the Email Feedblitz and keep up todate on what is happening and what you can do to help!

by Michelle Blue
Your Guide to Woodinville Real Estate, Neighborhoods, & Community
A Proud Member of A Better Avondale
www.MichelleBlue.com

Wow have you seen the home loan rates lately!

Wed, 26 Nov 2008 16:50:44 -0600

Here are the rates that my lender sent me today - they change daily...

If you are thinking about buying, now is the time to do it while the rates are low and housing inventory is high!

30 Year fixed FHA / VA: 5.5%
30 Year fixed Jumbo FHA: 6.5%
30 Year fixed conventional conforming: 5.25%
Conventional conforming 7 year balloon: 5.25%
30 Year fixed conventional conforming jumbo:  5.375%
30 Year fixed conventional non-conforming jumbo: 7.875%
3/1 ARM: 6.0% - conforming   6.875% - jumbo (+ .75% in fee)
5/1 ARM: 6.375% - conforming, 7.375% - jumbo
7/1 ARM: 6.5% - conforming, 7.625% - jumbo

* All rates quoted with a 1% origination fee

And contrary to the general belief out there - there is MONEY Available for lending! Let me know if you need a lender referral. Or help finding a home!

Current loan limits:
FHA <= $362,790
Jumbo FHA <= $567,500 (Need to fund this by the end of December. New loan limits as of January 1st, 2009 will be $506,000)
VA <= $700,000 (Max loan amount for Jan 1st, 2009 has not been announced)
Conventional Conforming <= $417,000
Conventional Conforming Jumbo <= $567,500 (Need to fund this by Dec. 12th. New loan limits as of December 1st, 2009 will be $506,000)
Conventional Non-Conforming Jumbo <= $1,000,000 (Higher amounts available)

by Michelle Blue
Your Guide to Woodinville Real Estate, Neighborhoods, & Community
www.Michelleblue.com

Move into Your Dream Home - Before New Years! ($100K Reduction)

Tue, 25 Nov 2008 17:49:38 -0600

You can move into your dream home before New Years!

The price of this fabulous home has been reduced $100K and seller will even pay up to $5K of buyer's closing costs.

At $829,900 - this home in the Brookside Country Club, Street of Dreams neighborhood in Woodinville is now within reach of many "move-up" buyers.

This lovely home in a Street of Dreams Neighborhood, is 3,840 sq ft, on a .68 acre lot with 4 Bedrooms, Den, Bonus Room, extra finished room, formal dining, formal living, remodeled kitchen and master bathroom suite. Two decks, patio, large side yard and just one block from the Tolt Pipeline Trail that provides 12 miles of recreation. New composition roof was installed in July (see picture online). This house has been pre-inspected, repairs have been made, and it is move in ready. MLS#28166504
View Listing Pictures & Details

What is stopping you?

Funding is available and the rates are great! My lender let me know this morning - Conventional Loan Rates for 30 year fixed are as low as 5.25%!
Worried about selling your own home? Consider this....
Sample Calculation: A depreciating market benefits the move up buyer. For example, a 10% price drop on a $650,000 home is $65K however a 10% price drop on a $850,000 home is $85K so you save $20K by buying now instead of waiting until the market recovers and you get to live in the home with the features you want now. Don't wait until prices go back up and you are priced out of the market.

Have you heard that you can't have a fence in Brookside Country Club? This home includes an Invisible Pet Fence around the perimeter of the property. However, if you want a wood fence - I would be happy to submit a fence proposal to the Architectural Control Committee for approval before an offer is submitted or as a contingency for closing. There are several privacy, pool and pet fences that enclose portions of properties in this neighborhood- the only clear restrictions are against full perimeter fences and chain link fences.

To Quote Investment Expert Warren Buffett, "Be Fearful When Others are Greedy, Be Greedy When Others Are Fearful". Now is the time to BUY.

Please let me know if I can provide you or your client with any additional information on this home or let me know if you would like a realistic complimentary Market Analysis on your home!

My clients would love to receive an offer and are willing to look at all offers, so let me know what I can do to help purchase this home!

by Michelle Blue
Your Guide to Woodinville Real Estate, Neighborhoods & Community
www.WoodinvilleGuide.com

Bailout: Who is eligible for help?

Wed, 12 Nov 2008 14:27:54 -0600

Lots of articles, lots of talk about the bailout - are you still confused as to whether you are eligible for help?

Here is a quick summary for your reference.

FHA Plan (This applies if you have FHA financing through any number of lenders) Lenders will modify interest rates or forgive a portion of your principal, to bring the ratio of mortgage payments (including HOA dues) to 38% of your income.
To be eligible you must:

Have a loan on a primary residence that was made before Jan. 1, 2008.
Contact loan servicers and cooperate on supplying need information.
Be at least 90 days behind on payments.
Not have filed for bankruptcy protection.
Certify that a hardship, such as job loss or illness, has affected your ability to repay
Certify that you did not purposely default to get a loan modification.

CitiBank - They are projecting to rework approximately 130,000 loans. You are eligible for consideration if your mortgage related payments exceed 40% of your income. They are calling loan holders in targeted areas of the country, but Washington isn't one of them so you will need to call them to see if you can be considered.

JP Morgan Chase (owns all of the WaMu loans now)
There loan modification efforts are targeted at option ARMs that are accumulating interest, which will be replaced with fixed-rate loans that are more stable for borrowers and seen as far less likely to default. J.P. Morgan said it wouldn't begin the foreclosure process on borrowers during the next 90 days, as it opens loan-counseling centers and takes other steps to launch the program.

Wachovia Corp.
Has initiated a loan-refinancing program targeted at option Arms from the loans it acquired as part of its purchase/takeover of Golden West Financial Corp and Wells Fargo & Co.

Bank of America
They have two loan-modification pools targets 265,000 borrowers with all types of mortgages. The other was hashed out with 14 state attorneys generals and involves 400,000 subprime and option-ARM customers serviced by the big lender Countrywide Financial Corp., which Bank of America purchased July 1.

What options do you have if you are having trouble making your payments - but you don't qualify per the above?

Hope for Homeowners- This program provides, new 30-year fixed rate mortgages that are FHA insured - which means you might be able to refinance into a more affordable mortgage). To be eligible for this the home must be your primary residence (and you don't have a 2nd home/investment property), you loan was originated before 1/1/08 and you have made at least 6 payments, you are not able to pay your existing mortgage without help, your total mortgage payments are more than 31% of your monthly income, an you certify that you haven't been convicted of fraud in the past 10 years or provide false information to get the loan in the first place. Hope for Homeowner Website
Credit Counseling - There are a variety of agencies out there that can help walk you through the options specific to you.
The Department of Housing & Urband Development Approved Credit Counseling Agencies in Washington (free or low cost)
Talk to your Loan Servicer - Call the number on your statement and find out who owns your loan. Then call the lender directly. They are much more likely to talk to you right now.
Short Sale - This is where the lender agrees to take less than the balance of the loan to avoid foreclosure. In order to be successful with this, it is critical that you work with an agent who has an experienced team to deal with this. (I work with Washington Property Solutions). Generally lenders are only willing to do short sales on primary residences - not 2nd homes & investments.
Deed in lieu of Foreclosure - Talk to your lender - this is where you transfer title in return for the cancellation of your debt. Although you lose what equity you might have, it isn't as damaging on your credit as foreclosure.
Bankruptcy - When all else fails, this is something to consider.

If you think you need help Do Not Wait!
If a loan is modified prior to it becoming delinquent, it will be counted as current and so it shouldn't affect your credit rating.

by Michelle Blue
Your Guide to Woodinville Real Estate, Neighborhoods & Community
www.MichelleBlue.com

Average Price Per Square Foot in Woodinville, Washington

Mon, 27 Oct 2008 17:01:45 -0500

Here is a quick look at the average price per square foot of homes and condos in Woodinville for the last two years.

The chart starts off at $249.26 per square foot in October 2006. While prices do appear to be trending down... strong sales in September 2008 brought the price is $258.49 per square foot!

If you would like to more about home price trends in a particular area, feel free to contact me.

Posted By:

Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@eastsidehomes.com