Mortgage Rates Remain Deadlocked
Is It Time to Refinance?
Mortgage rates were unchanged this week as investors hedged their election bets.
The benchmark 30-year fixed-rate mortgage was unchanged at 3.57%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.4 discount and origination points. One year ago, the mortgage index stood at 4.25%; four weeks ago, it was 3.59%.
The benchmark 15-year fixed-rate mortgage fell to 2.88% from 2.89%. The benchmark 5/1 adjustable-rate mortgage was unchanged at 2.72%.
Read on here: http://www.foxbusiness.com/personal-finance/2012/11/08/mortgage-rates-remain-deadlocked/#ixzz2BlxJqWTC
Take Winter by Storm
Coinciding with the arrival of winter are seasonal reminders on preparedness. The Take Winter By Storm website is filled with information on "getting ready before the rivers rise, the winds blow and the snow flies!" The tips and tools are available in nearly two dozen languages. The content features advice for coping with inclement weather, including wind, rain, floods and freezing temperatures; tips for driving in severe weather; and links to road condition reports and transit services throughout much of western Washington.
Website users will also find links to the Seattle Times Take Winter By Storm pamphlet and a variety of important checklists. There’s also an option to register for emergency alerts, updates and discounts.
Take Winter By Storm is a collaborative program of several public and private sector partners.
Are YOU Ready for Winter Weather?
Follow these three steps to get ready
- Create an emergency preparedness kit with at least a three-day supply of non-perishable food and water for your home and office. Kits prepared for vehicle road travel and winter weather evacuation go-kits are also advised.
- Make a plan and practice the plan with your family and those who depend on you.
- Stay informed and know the weather approaching so you are prepared for whatever Mother Nature throws our way.
Weekend Warrior: 10 most innovative products for DIYers
Taking on some do-it-yourself projects around the home? You deserve praise for your efforts, not frustration. So why make things hard on yourself — especially when there are tools available that can make the job easier? Reas on here.
The Eleven Reasons People Can’t Sell Their Homes
The environment for home sales becomes more difficult with each passing month. Some estimates put 11 million mortgages, about 20% of the U.S. total, underwater, meaning that homeowners owe their banks more than the underlying properties are worth. Home repossessions reached more than 100,000 for the first time in September. Rising foreclosure rates continue to further depress housing prices. Read on here.
Mid-Century Modern | Open Sunday November 11th 1PM-4PM
Built in 1965 and refreshed for 2012.
Design, function and structure, it is all here in this remodeled modern home. Set down a private road in Seattle's coveted Broadview neighborhood, this five bedroom, three bath home awaits you.
Custom built and originally designed by architect Donald M. Wilson to experience nature inside and out,. This Zen-like Northwest Contemporary home is situated in a natural setting surrounded by sylvan views. Stunningly remodeled and updated with modern conveniences and style, the living spaces flow from one open room to the next . Enjoy entertaining in beautifully appointed interior spaces or outside in one of the many outdoor living areas. This is the modern oasis at the end of the road that you have been waiting for. This truly is a one of a kind home with nothing more to do than move in and enjoy.
Online at: http://ballardtobroadview.withwre.com/listing/WA/Seattle/13249-6th-Ave-NW-98177/16126246
Contact Steve Hill or Sandra Brenner for a private tour of this spectacular home.
Windermere Real Estate/FN
Seattle-Northwest
206-552-9577
Seattle: “One of the Best Markets for Younger Adults”
Seattle: "one of the best markets for younger adults"
In its latest outlook on real estate, the Urban Land Institute (ULI) pegged Seattle as the 7th best market in the U.S. for investment, development and homebuilding.
Compared to a year ago, the city's overall ranking dropped a notch, despite improvements in each category. One columnist suggested the shuffle reflects "stronger sentiment for some other tops cities and a warning about the competition." ULI named San Francisco as the top market to watch in all three categories.
Now in its 34th year, the Emerging Trends in Real Estate® report is undertaken jointly by ULI and PwC. Findings reflect the views of more than 900 individuals who were surveyed or interviewed.
The authors believe the real estate recovery will continue in 2013, with modest gains in leasing, rents and pricing expected to extend across U.S. markets.
In the opening chapter titled "Recovery anchored in uncertainty," the forecasters noted "real estate continues to meander along a slower-than-normal recovery track behind a recuperating U.S. economy, dogged by ongoing world economic distress."
On a brighter note, market recoveries are gathering some momentum across most of the country and in all property types. For the third consecutive year, surveys indicate that U.S. property sectors and markets "will register noticeably improved prospects compared with the previous year."
Seattle, which was listed among "cool places" with 24-hour characteristics for echo boomers and "veritable wealth-island magnets for investors" in last year's report, was singled out in the latest edition for its walkability and good quality of living. Its diversified new age corporate base, also drew favorable comments.
The city's position as the global center for the software industry draws both domestic and global investors, prompting one investor to suggest "Seattle belongs in the primary market category."
Survey results indicate investor sentiment is focused on job-producing industries and those markets that contain them, notably San Jose and Seattle.
The Trends report projects a 1.2 percent increase in Seattle's job growth next year, 50 basis points above its ten-year average. It also calls the Emerald City one of the best markets for young adults, noting the echo boomer population has expanded 20 percent over the past decade. That growth signals changing expectations for housing.
Researchers reported the large generation-Y demographic cohort orients away from the suburbs to more urban lifestyles, adding, "These young adults willingly rent shoebox-sized apartment units as long as neighborhoods have enticing amenities with access to mass transit." They also said more intergenerational sharing of housing occurs to pool resources among children (seeking employment), their parents (reduced wages and benefits), and grandparents (limited pensions and savings).
The Trends report's authors suggested home builders keep activity in check, but they anticipate rising confidence from stabilizing housing markets. "Any uptick in single-family construction by 2014 and 2015 should buoy the overall economy and help other property sectors," they remarked.
Upon reviewing the latest report, Seattle Times columnist Joe Talton highlighted findings about "the great reset in real estate." A big element of the reset involves the rising demand for infill in cities with strong economies.
The best city centers are benefiting from companies and people moving in from the suburbs, Talton wrote, adding, "Much of suburbia, heavily overbuilt during the bubble, continues to struggle," with Bellevue being a possible exception.
Investors may find Bellevue's proximity to vibrant Seattle inviting, even though its velocity of recovery lags downtown Seattle. Talton agrees the future looks promising for suburbs that can become denser and build serious transit hubs.
Despite promising findings, Talton said the good news requires some tempering. "We're not in for another 2000s boom, and that's a good thing considering how it turned around. The modest recovery is to be expected from the catastrophic downturn and its resulting financial collapse, oversupply and debt. "It will take years to fully undo the damage of the housing collapse," according to Talton.
Emerging Trends in Real Estate® is a highly regarded and widely read trends and forecast publication. It provides an outlook on real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues throughout the United States, Canada, and Latin America.
Participants who were surveyed or interviewed include investors, developers, property company representatives, lenders, brokers and consultants.
New Sidewalks on N 125th
Work on N 125th St. Sidewalk to Begin January 3rd
According to an update posted on the project website, “SDOT and its contractor will mobilize and start work activity on or shortly after January 3, 2012. This project is scheduled to be complete by early March. Normal work hours will be 7:00 a.m. – 4:00 p.m., Monday through Friday. Parking restrictions in and around the work zone should be expected. For questions regarding construction, please contact James Sido, Community Communications Officer, james@stephersonassociates.com, (206) 972-6198
Project elements
- Building a new concrete sidewalk (with planter strip in some locations)
- Installing ADA compliant wheelchair ramps
- Rebuilding driveways
- Planting trees, grass seed or groundcovers where possible
- Artwork will be embedded in the new sidewalk