Seattle Homes and Life

Get the scoop on your neighbors!

2009-10-14T09:16:00.000-07:00

Wanna be in the know with your 'hood? Catch up on what's happening in your specific zip code at www.everyblock.com. Just type in a zip code and you'll get police blotters, real estate listings, restaurant reviews, political updates and more!

Jodi's Book is finally live!

2009-10-01T09:07:00.000-07:00

This has been a huge project in the making! I think I have been working on Jodi's Book for almost a year, so please take advantage of this wonderful referral source of people I know and trust. These are my friends, colleagues and industry professionals who I consider the best of the best in Seattle.

The majority of these professionals I have worked one on one with or know them well and would trust them with my business. If I did not know a contractor/professional for a particular service then I consulted another trusted Realtor and asked them who they would use.

Think of this as your one-stop referral source from a Realtor you trust who will point you in the right direction. Come back to Jodi's Book anytime you need someone to help you in your home, personal life, business, etc. From acupuncture to window cleaning, Jodi's Book has someone who wants to work with you!

Simply go to www.jodiarnold.com, click on Jodi's Book on the main menu and off you go! Here's just another service or reminder that I am driven to help make all our lives easier...enjoy!

Top 10 Natural, Eco-Friendly and Anti-Pollutant Houseplants

2009-10-01T08:17:00.000-07:00

Now that our windows are closed for the next 8 months, I found this Top Ten list useful. I would like to buy ivy plants for my home, but I their poisonous qualities have me left getting Peace Lilies or African Violets.

Learn more: Top 10 Natural, Eco-Friendly and Anti-Pollutant Houseplants

Anya Elle is Born

2009-09-23T10:49:00.000-07:00

Our beautiful baby girl was born on August 20, 2009 in Fremont at our home. It was a wonderful delivery and she is simply the cat's meow. We've been adjusting to our new life as a family of four and it is going better than expected. Sleep is still a luxury for Jodi and she enjoys bonding with her girl at all hours of the night.

Big brother, Emmett, is also fond of his sister so much so we've caught him picking her up and constantly kissing her while putting his hand over her face. Needless to say, we've quickly learned never to leave the two of them alone. Ever!

Anya has already been out touring homes with me and is curious about Seattle's real estate market. I think we have a mother-daughter partnership in the making! Please continue thinking of me if you know anyone who needs help buying or selling their home. I am teaming up with my amazing friend and colleague, Lyrica Smith, so I can provide clients with the level of service they deserve from not one, but two of the best agents in town!

Making Money from Property Tax Appeals

2009-07-22T10:04:00.000-07:00

Helping home owners appeal their tax bills can be a lucrative side business for real estate practitioners – particularly this year when legions of home owners are considering appeals after prices have crashed. For other real estate professionals like myself it is a value-added service as a committment to my clients and those I know.

What I can do is help you build a case against the city. Earlier this year, I helped my neighbor who actually fought back and won! We put together an accurate comparative analysis of homes similar to hers that sold within the last year in Fremont. It did the trick and she saved thousands of dollars.

Winning an appeal requires persuading an assessor or appeals board that the current assessment is inaccurate or outdated. Often the window for appeal is very small, so it pays to have key information gathered and ready. This is where I can come in to assist.

The National Taxpayers Union offers these tips for filing an appeal:

1. Check the assessors’ information on file for accuracy, including lot number, zoning category, sales records, land value and dimensions, and significant features.
2. Make sure that defects like a leaky basement that could lower the value of the property are on record.
3. Provide three to five comparables that prove the point that the property is over-assessed.
4. Get a full appraisal if the information on file appears to be hopelessly incorrect.

Goodbye Madison Park Office

2009-07-16T15:03:00.000-07:00

As of this week, I am officially hanging my license at John L Scott's Flagship office in the University Village. Two weeks ago we received the news that our beloved Madison Park Office would be closing down to merge with U Village. Call it a sign of the times and I like to think of it as a new, exciting opportunity.

We've gone from 27 agents to 60+ with more support staff, state-of-the art facilities and unbelievable close proximity to my favorite outdoor shopping area. In just a few short days, I already like the synergy of more agents and the technology at our fingertips feels like its up to speed with my needs.

Please join me in my enthusiasm being a part of the U Village community. Check out these links and hope to see you here soon!

http://www.uvillage.com/
http://www.johnlscott.com/officedetail.aspx?io=3475009

Mortgage Rates Reach 7-Month High

2009-06-12T15:55:00.000-07:00

Daily Real Estate News | June 12, 2009

Higher interest rates put the brakes on mortgage refinancing this week, according to Freddie Mac.

The firm's weekly survey pegged interest on 30-year fixed mortgages at an average of 5.59 percent -- up from 5.29 percent last week and the highest rate since November 2008.

Other rates also climbed:

Interest climbed to 5.06 percent from 4.79 percent for 15-year fixed loans;
5.17 percent from 4.85 percent for five-year, adjustable-rate mortgages;
5.04 percent from 4.81 percent for one-year ARMs.

Freddie Mac chief economist Frank Nothaft says the gains are not affecting home purchase loans.

Source: Boston Globe (06/12/09)

New Cool Websites to Check out

2009-06-12T15:14:00.000-07:00

Free Web Tools to Make Life Easier!

www.mint.com
We just signed up for this and can tell we're going to enjoy it. It puts all your bank accounts, credit cards and investments into one cool site. It's a safe, secure financial management tool that helps you track expenses. The graphics are cool, too.

www.listedgreen.com
This is the Green MLS (Multiple Listing Service) for all properties green, sustainable and energy-efficient. Want to buy green in your next home? This site is for you!

www.designspongeonline.com
Do-it-yourselfers on a budget will love the easy home decorating projects and gift ideas.

www.zenbe.com
Who doesn't have multiple email addresses these days? View all your mail in one inbox and check in with Facebook and Twitter from the same screen.

www.gasbuddy.com
Do some comparison shopping before you fill up. Get a listing of what the gas stations in your area are charging per gallon.

Modular Homes Coming to Seattle's Urban Core

2009-06-11T09:40:00.001-07:00

This exciting home caught my eye and I had to pass onto all of you. This listing came on in late 2007 and was toured by 1200 visitors. Needless to say, Seattle is ready for modular living.

What is modular you ask? It's not a condo or townhome, but instead a high-tech, high-design, affordable housing solution. One journalist describes it as "IKEA meets iPod". In other words, manufactured housing like you have never seen before. No trailer parks needed.

Unico Properties, LLC is planning on building hundreds of these units around Seattle's neighborhoods--Wallingford, Fremont, Capitol Hill, Ballard and First Hill. To put together a module unit like this it took them 3 hours. Yes, 3 hours!

You can read more: Modular Prototype: IKEA meets iPod.

My Columbia City Listing in The NYTimes

2009-05-28T14:19:00.001-07:00

Last week was unbelievable for me as far as publicity goes. My exciting modern listing in Columbia City was written up in the NY Times! You can find us in the Travel&Escapes section, May 22nd edition. We are the last photo on the bottom left-hand side with a write-up just below it.

Here is the link: Modern Award-Winning Columbia City Home priced at $515,000

Undoubtedly, I have fully embraced the power of publicity. Now I need to find a good publicist for my team and have a few individuals on my radar screen. Laura Ray, are you ready to leave corporate world for exciting self-employment opportunities?!

1906 Wallingford Craftsman Featured on FOX13 News

2009-05-22T15:40:00.000-07:00

My first listing in the limelight! We had a wonderful brainstorm session that turned into an exciting video, quick sale and now local publicity on the evening news. Needless to say, working with the Howards and Brett from Leaning Wolf Productions was a highlight in my real estate career...see why...

Did You Know?

2009-05-14T20:25:00.001-07:00

Undoubtedly, this 5 minute video will make your head spin and think twice. It might not be directly related to real estate, but it presents the direction we're headed and the amount of information we see on a daily basis. Sit back and get ready to say, "whoa"...

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Tell Your Renter Friends to Buy-Buy-Buy!

2009-05-13T16:27:00.000-07:00

Okay, I realize I sound like a biased broken record, but it just got even better to buy if you are a first-time homebuyer. Remember the $8000 tax credit? A law just passed allowing the buyer to use the money towards their down payment versus filing for it at tax time. Not only do you have $8k from Uncle Sam, but most sellers are willing to pay half or all of your closing costs. That means you come to the closing table with little to nothing and your only responsibility is paying your mortgage and of course, caring for your new home!

Action item list:

1. Pass this onto those you know who are renting.

2. Tell them to call me.

3. Watch them achieve the American dream and better yet, have you over to enjoy their new digs!

There truly is no better time to buy than now! Read more....

Daily Real Estate News May 12, 2009

Tax Credit Can Be Used for Down Payment Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Where should you go for Green Products?

2009-05-13T16:18:00.000-07:00

This consumer driven site is excellent for thorough reviews and explanations on everything green from cars to electronics to home and garden products. The home and garden section is rich with info from lawn mowers to lighting to bath products! Check it out...

http://www.greenerchoices.org/

Green Clean Services and Discounts

2009-05-13T16:11:00.000-07:00

Spring is here and now is the time to brighten up your properties. We are offering a 10% discount at the moment and clients will receive a "Green" cleaning kit when booking a job. Why not contact GREEN CLEAN, and see if we can help? We are a local company that is dedicated to prompt and excellent service.

GREEN CLEAN can be your ONE STOP SOLUTION for:
Comprehensive preping of houses and condos for sale
Apartment and condo maintenance

Property management support GREEN CLEAN offers the following services:
Residential and commercial cleaning
Hauling and disposal
Pressure washing
Construction clean up
General repairs including painting
Carpeting and flooring (cleaning, repairs or installation)
Landscaping
Staging

Cleaning our Environment ~ Starting with yours
We believe every little thing we do matters! We recycle every item possible. Only safe, green and biodegradable products will be used. We do what we say we will do, on time and on budget ~ guaranteed! Got a mess? We're the best!

CALL US: 206-462-8697

Visit our website: http://www.greencleanllc.net/

Photos schmotos...check out this cool video!

2009-04-27T18:10:00.000-07:00

Modern Charm in Wallingford

2009-04-22T16:24:00.000-07:00

Ever pinch yourself in your line of work because you absolutely love what you are doing at that very moment? For me, life is about space and without going off on that tangent I have to tell you about a home that makes me feel inspired, comforted, excited and relaxed all at the same time.

This 1906 Craftsman is unforgettable from start to finish offering a perfect balance of charm and contemporary finishes. The owners, dear friends moving to NYC, have lovingly cared for and updated this Wallingford treasure without skipping a beat on style, function as well as sustainability. Click on the photos above for a full shot that says "wow!" The photos only tell half the story on how they brought this historic beauty to 21st century standards with their own hands and skilled craftsmanship never overlooking attention-to-detail.

You can learn more below and I encourage you to head over this weekend for a complete tour along with a video showing the sellers walk the space explaining their labor of love. Open Houses being held on Saturday and Sunday from 1-4p. Refreshments will be served and get ready for some homemade cookies that will make your belly say "more"!

www.johnlscott.com/59548
www.vicaso.net/13023
4536 2nd Ave NE

Located in the heart of Wallingford! Walkscore.com rates this home 92 out of 100 calling it a "Walker's Paradise" for its amazing proximity to just about everything! Location, location, location + style, charm, updates = one happy new homeowner!

Happy Earth Day--Free Booklet for YOU!

2009-04-22T15:58:00.000-07:00

Earth Day is today and I regret I have not flooded this blog with tips on how to help our communities/homes be more green. It's seems like everyone wants to say their sustainable or green-friendly, but what does that really mean?

Interested in learning exactly how you can make your home more energy efficient? I have two options for you. One option costs $500 and the other one is FREE. Yes, we all like free especially these days. If you want to hire someone and appreciate the professional walking the home with you, you want to hire a HERS inspector who will come out to assess and score your Home's Energy RatingS. They will provide tips and suggestions to increase your score while improving the systems and filtrations making your home happier and less demanding on the planet. You can go this route by clicking here: http://www.natresnet.org/.

Option number 2: call or email me to send you a FREE booklet called "60 Ways to Save Energy". I requested this booklet; one, because it was free and second, for the photos, links and explanations. It was written by an appraiser in FL and he does a good job simplifying and personalizing his recommendations. For all you visual people like me, the photos are very helpful, too. I have the booklet in pdf, so sending it via email will be a breeze. Just let me know and I am happy to do so!

Rates at 38 Year Low...WHOA!

2009-03-27T12:39:00.000-07:00

The average interest on a 30-year mortgage fell to a 38-year low of 4.85 percent during the week ending March 27 from 4.98 percent the prior week, Freddie Mac reported.

The decrease came on the heels of the Federal Reserve's announcement that it plans to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries. President Obama says refinancing is now possible for 40 percent of mortgages and encourages home owners to reap the benefits of the record-low rates.

Call your local lender or my trusted husband at Golf Savings Bank. Justin can be reached at 206-650-0452 or jarnold@golfsavingsbank.com. This is just another reason why now is one of the best times to buy real estate!

Economic Euphoria on the Way?

2009-03-26T10:32:00.000-07:00

Daily Real Estate News March 26, 2009

The economy is looking more robust this week and some analysts are suggesting that the worst could be over, but Atlanta Federal Reserve President Dennis Lockhart said Thursday that he’s skeptical that recovery is here.

"Most of the data that we follow appears to signal a continuing recession, at least a few more months," he said. Lockhart, who spoke in Paris, warned that while current conditions don’t suggest that inflation will rise imminently, the risk is there. "I would say however that there is reasonable concern related to the growth of the balance sheet of the central bank in response to the economic difficulties that we are having, that this could in the long term fuel inflation," he said.

First time buyers have it made right now

2009-03-26T09:55:00.000-07:00

It's unbelievable to think Seattle's only printable newspaper is actually posting good news and positive articles on the real estate market. Are they trying to win back readership from those who are sick and tired of reading nothing but negative news? http://seattletimes.nwsource.com/html/realestate/2008894939_firsttimebuyers22.html?syndication=rss

I can say this until I am blue in the face and some people won't hear the message as loudly coming from an insider, but it truly is an amazing time to buy. It's all the fear running through our society that prevents people from getting off the fence and taking advantage of one of the best markets in over 50 years. Maybe the reason being everyone who could afford to buy did so during the housing boom?

Pricing is so low that we're back to 2005 levels, inventory has quadrupled, choices are plentiful and on top of that, first time home buyers have an $8000 tax credit available to them through the $800 billion stimulus package. Times are so good right now for buyers that developers are starting to auction off condos, too.

Here are just a few of the projects in town auctioning off properties for almost 30-40% less than peak values a few years back: Queen Anne High School, Press on Capitol Hill, 4217 Fremont in the heart of Fremont, Canal Station in Ballard and more. Investors, condo and first time buyers rejoice!

Beacon Hill is a sound investment

2009-03-13T14:44:00.000-07:00

When people ask me where I think it would be wise to invest, I point their sights south to Beacon Hill. Otherwise known as NoBeHi or SoBeHi, North/South Beacon Hill has incredible values and views with unbelievable proximity to downtown's core. With the Light Rail on its way, it is one more reason this much overlooked neighborhood needs a second chance.

For all you investors, there is a fantastic 4-Plex priced at $499,000 that sits 3 blocks from the Beacon Hill station. This 1910 building is consistently occupied with reliable tenants and brings in a nice rental income of $2800/month. It is zoned L-1 and offers tremendous upside if one wants to continue renting it out or knock it down for development. You can learn more at www.johnlscott.com/36289.

Light Rail is scheduled to open July 3rd with the line running from downtown to Tukwila. The extension from Tukwila to Sea-tac will open at the end of the year. By 2020, Light Rail predicts it will carry 42,500 daily passengers, which hopefully means less traffic on our already clogged freeways. Learn more: http://www.seattle.gov/Transportation/lightrail.htm

Studies have been done in every major city with mass transit (ex. BART in SF) and what was discovered for real estate values is interesting. Any property within a 1/4-1/2 mile to the line automatically appreciate anywhere between 10-20% once mass transit opens. People can finally ditch their cars or at least use them less while accessibility to work/life becomes a lot less stressful on you and the environment. Light Rail is a success story for our state and we should be excited it is finally here!

New Price on Modern Built Green Home

2009-03-12T12:22:00.000-07:00

As the market goes, so do continued price reductions. I am humbled by the lack of offers on such an exciting, exceptional listing like this award-winning, four star Built Green home in Columbia City. My sellers are eager to sell and move into a very cool Ralph Anderson (http://en.wikipedia.org/wiki/Ralph_Anderson_(Seattle_architect) designed property in the foothills of Issaquah. As a result, we dropped the price again to $540,000 and hope this does the trick!

Open House this Sunday
1-4p
4011 Letitia Ave S

Columbia City

www.johnlscott.com/44373

If you see me doing a dance on the streets, I am asking the real estate gods to send us a qualified buyer! Please send your good thoughts, karma, vibes or prayers...we need it in this market!

New Price on Hollywood Bungalow

2009-03-09T17:44:00.001-07:00

This adorable 1926 Hollywood Bungalow is now $425,000 and truly an unbelievable price! This is a perfect example of what's happening in today's market as we started our asking price at $499,000 and now we've come down $75k. We had an offer from a couple who were from another country. I can't go into the details of these buyer's lack of confidence without typing #$!@*! to explain how we felt moving forward with them.

We decided to bring the house back on the market knowing we can find someone who will lovingly care and appreciate the home for all it is worth. Stop by to check out the home this Sunday for the Open House from 1-4p.

8011 Dayton Ave N

Located in the heart of Phinney-Greenwood

Only a hop, skip and jump away from Greenlake

3 BR, 2.5BA, 1910 square feet

Fully fenced backyard

Loads of charm and space

Check us out here: www.johnlscott.com/36508

Hope to see you! Hope to see it sold soon!

Hello Price Reductions!

2009-03-04T15:52:00.000-08:00

Man oh man, I am not just saying this because I want buyers to get off the fence and buy, but the rate of price reductions across town is maddening. Every day I get a new email from an agent promoting the recent reduction of their listing. Gone are the days when reducing $20k off asking is considered a significant price drop. Today we're seeing anything from $35k to even $125k off asking! A client of mine just made an offer on a house originally priced at $519k and then reduced to $399k to get an offer. Their strategy worked as we are competing against another offer who wants to take advantage of this rare opportunity. Cross your fingers we get it!

Here's one of many examples: Fremont Green townhomes just down the street from us started their pricing in the 500s and today they're priced in the mid 400s. Located in the heart of Fremont with Built Green 4 Star ratings these are not your typical cookie cutter townhomes we see sprawling around town. They offer open layouts and upgraded finishes all designed by a top Seattle architect. This is just one of many properties out there selling for at least 20% below original asking price.

As the stock market plunges 300 points, so does Seattle's housing prices. Please tell your friends or family who want to buy that now is the time! I know a great Realtor who would love to help [wink wink].

Nice Rental Available in Lower Wallingford

2009-03-03T15:00:00.000-08:00

It is a 2 bed 1.75 bath house with two large living rooms, a newly remodeled kitchen and bathrooms and a small yard. It also comes with a garage and a small garage/office. 2 Blocks from the Burke Gilman, and a qucik walk to Wallingford or Fremont or Gasworks park.

The current tenants are paying $2200 a month, which is what the landlord is asking for rent. The landlord is a good friend of ours, so you would be dealing with someone reasonable and pleasant. Good sense of humor, too. Included are basic cable and internet access. He is willing to reduce that amount to $2000 for friends and referrals from friends.

Pets are OK with a additional deposit. House is located on corner of 37th and Bagley Ave N, just north of Gasworks Park. Contact Julien Recoussine if you are interested at 206-954-6354 or recoussine@gmail.com.

21 Reasons to Feel Optimistic

2009-02-25T09:51:00.000-08:00

PORT WASHINGTON, N.Y. (MarketWatch) -- Although you wouldn't know it from the behavior of the stock market, the economic outlook is turning just a bit less gloomy.
Prosperity may not be just around the corner, but statistical evidence is mounting to suggest that the worst of this recession may soon be past.

And before you inundate me with email alleging that I am out of touch with the real world, let me say right at the top that I am not for one moment saying that the economy has stopped sliding. I am only suggesting that it appears to be contracting at a slower pace.

Clearly, this has nothing whatsoever to do with the stimulus package that the president signed into law last week. As a matter of fact, if the recession does end within the next few months, it will probably be in spite of this package, rather than because of it.

If you want a policy to credit, it's monetary policy. The combination of liquidity that the Federal Reserve has pumped into the economy, along with its special lending programs and capital injections into the banks, is largely responsible. But you want more than assertions; you want proof. And here it is:

The Conference Board's index of leading economic indicators has risen for two months in a row.
Producer prices have increased for two straight months.
Consumer prices rose in January -- the first monthly gain in six months.
The Baltic Dry Index, which measures the cost of shipping key raw materials like copper, steel and iron, has more than doubled from its recent lows.
Existing-home sales rose in December, and participants in our weekly survey think that another rise took place in January.
Pending home sales went up in December.
Builders' confidence inched up this month.
Thanks to lower interest rates, applications for both new mortgages and refinancings of existing mortgages are rising.
Real hourly earnings rose 4.5% in December following a 3.3% increase in November.
An index of consumer expectations rose in January.
Retail sales shot up by 1% in January -- the first monthly rise since June.
The decline in consumer credit moderated in the latest month.
New orders for consumer and nonmilitary capital goods went up in January.
The ISM index of manufacturing went up last month.
The ISM index of services rose last month for the second month in a row.
The money supply is soaring, a sign that there's plenty of liquidity in the economy.
The 3-month London interbank offered rate, a measure of banks' willingness to lend to each other, has dropped to 1.2% from close to 5% a number of weeks ago.
Other measures of the state of the financial markets, like the TED spread and the 2-year swap spread are down, as well.
Prices of credit default swaps for banks have fallen from their peaks.
The corporate-bond markets are thawing out, too; some $127 billion in dollar-denominated debt was issued in January, the most for any month since last May.
Some securities on banks' books are starting to recover in value.

All this said, the economy is still a long way from a pink-cheeked state of health. But remember, you've got to crawl before you can walk. And it looks like the economy is about to do just that.

Irwin Kellner is chief economist for MarketWatch, and is Distinguished Scholar of Economics at Dowling College in Oakdale, N.Y.

New Price on Modern Award Winning Built Green Home

2009-02-20T09:38:00.001-08:00

Last month, I showcased this amazing home in the Columbia City area. We're still on the market and dropped the price to $565,000! Tell your friends, co-workers and family members who appreciate fine design. This sustainable home is truly exceptional!

Open House this Sunday from 1-4p

4011 Letitia Ave S

98118

You can find us here, too:

http://vicaso.net/iflyer/13639

OR
www.johnlscott.com/44373

30-Year Rates Drop to Near 5%!

2009-02-20T08:56:00.000-08:00

The 30-year fixed-rate mortgage averaged 5.04 percent this week, a drop from last week's 5.16 percent. Last year at this time, the 30-year rate averaged 6.04 percent, Freddie Mac reports. This is a welcoming sign to buyers who want to purchase and people who can refinance.

If you are considering refinancing please keep in mind appraisers are much tougher on home values. As most know, my husband is a mortgage broker and I hear him tell his clients that unfortunately, he delivers more bad news than good news these days. Banks are tougher on lending guidelines and apprasiers are feel pressured to determine lower values on homes. Recently, I heard of a appraisal coming in $200k below the appraised value two years ago!

On the flipside, if you are well-qualified and have a minimum 3% down payment, now is the time to buy. Home values are back to 2005 values, rates are lower than they've ever been before and sellers are motivated to negotiate. It probably won't get better than this and yes, the bottom of the market is in site. Some will argue we're at the bottom right now...we won't know until we're looking back on it.

House Purchasing and the Stimulus Package

2009-02-19T12:28:00.000-08:00

It's important I post information on the stimulus package and how it affects real estate today. Any first time home buyer who purchases in 2009 will receive a tax credit up to $8000. This is only for 2009, so let your friends know who are renting that now is the time to buy! Rates are unbelievably low, too. I mean historic lows!

Read more below on Obama's Plan...

The $790 billion stimulus package signed by President Obama today increases the home buyer tax credit to $8,000, drops the repayment feature, reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans, and provides $2 billion in additional funding for states and localities to be used to purchase, manage, repair and resell foreclosed and abandoned properties. Many elements (listed below) included in HR 1 "American Recovery and Reinvestment Act of 2009," were supported by the National Association of REALTORS® (NAR) as well as the many REALTORS® who sent call to action messages to Congress urging their support!

Homebuyer Tax Credit. The bill provides for a $8,000 tax credit that would be available to first-time home buyers (those who haven't owned in at least three years) for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment for buyers who hold onto their property for at least three years. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.NAR has sought removal of the repayment requirement because it discourages buyers from taking advantage of the tax credit. The three-year minimum holding period is a safeguard against speculators' use of the credit. The legislation also extends the effective date of the credit to December 1 from June 30, and extends eligibility to borrowers who buy their home with the help of state or local financial assistance that comes from the proceeds of tax-exempt mortgage revenue bonds.

The start date for the first time homebuyer credit is January 1, 2009 through and before December 1, 2009.

FHA and conforming loan limits. Specifics have not been released but reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the secretary of the U.S. Department of Housing and Urban Development.

Foreclosure mitigation and neighborhood stabilization. Funding for states and localities to be used for neighborhood stabilization activities for the redevelopment of abandoned and foreclosed homes are authorized. Some news reports put the funding level at $2 billion.

Rental assistance. Up to $1.5 billion to provide short-term rental assistance and other aid for families during the economic crisis.

Transportation infrastructure. Up to $29 billion for highway construction projects, $8 billion for rail projects.

Rural housing development. Increased funding for the Rural Housing Service direct and guaranteed loan programs.

Low-income housing grants. Allow states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low-income housing, including those with or without tax credit allocations.Tax-exempt housing bonds.

Tax-exempt interest earned on specified state and local bonds issued during 2009 and 2010 will not be subject to the Alternative Minimum Tax (AMT). In addition, financial institutions will have greater capacity to purchase tax-exempt state and local bonds.

Energy efficient housing. Grants for energy retrofits for federally assisted housing (Section 8), funding for energy efficiency and conservation block grants to states, increases in the residential tax credit through 2010 for certain energy efficient upgrades and $5 billion to weatherize low-income homes.

How much is $800 Billion anyway?

2009-02-10T17:32:00.000-08:00

The congress is proposing a bailout package somewhere around 800 Billion dollars. A billion here and a billion there, and eventually you are talking real money. Two thoughts on how much money this is and how we could spend it better.

Thought 1

If you were to spend a Million dollars EVERY DAY for a whole year, you would spend $365 Million a year. That means $1.461 Billion every four years (I added one million for the leap year). Multiply that by 500 to get to 2000 years (4 years x 500) and that adds up to 730.5 Billion dollars. Add 8 years (1.461 x2) and you get a grand total of $733.422 Billion. Lets just round up to $750 Billion to make it easy to grasp. In other words, if I gave you $750 Billion on New Year's eve of the year Jesus was born, and you spend $1 million EVERY DAY, for 2008 years, you'd still have about $16.5 Billion in change left. And our government wants to spend $100 Billion more than the 750? Is there even that much printed cash in circulation today? Thats how much money we are talking about.

Thought 2

All this is supposedly being done to save our economy and create 3 million jobs in 5 years. I heard Dave Ramsey on the radio suggest a way to do the same, this year, for less than 10% of the money. His idea. Have the government give a $20,000 tax credit (not deduction, but net credit) to every company that creates a net new job, per job. ie, if your company adds 4 people net in 2009, you'd owe $80K less in taxes. The idea is that any company on the edge about adding a job would probably do it if they were to get the $20,000 tax credit. If this is successful at adding 3 million jobs (this year, not over 5 years) then the total bill would be $60 Billion. Of course, the new employees would all be paying income tax, so the government would recoup and average of 25% of the salaries pais to those 3 million people, reducing the cost, not to mention the extra sales taxes to local and state governments from all the crap the 3 million people would be buying every day, but who's counting?
- My point is this, congress is not trying to fix the economy or make new jobs. They are smart enough to do this math jus as well as me. The stimulus is about growing their power base, bringing more assets (and companies) under their influence and assuring that government is THE central influence in all of our lives. There is no valid reason to drop this kind of money into economy. The government could give every american man, woman and child $2000 and it would only cost them $600 Billion. So if you have two kids, you and your spouse would get $8000, which would probably help more than anything else to government is going to do (like buying an ice breaker boat, or fixing a stretch of the interstate).

In case you want to express your opinion to your duly elected representatives voting on this this week, here are the links with contact info on every senator and congressperson today.

Senate
http://www.senate.gov/general/contact_information/senators_cfm.cfm

House
http://www.house.gov/house/MemberWWW_by_State.shtml#fl

Source: Julien Recoussine
President of Seattle Skyline Rotary
Owner of Flavor of the City
Uber Passionate about Politics

Exciting New Columbia City Listing

2009-01-24T09:46:00.001-08:00

One thing I love about real estate is selling a well-designed, environmentally friendly house! I invite you to check out this exciting home built in 2004 with modern, sustainable living in mind. It was featured in NW Home and Garden as well as “What You Get for the Money” on HGTV.

You can also find us here:
http://vicaso.net/iflyer/13639
OR
www.johnlscott.com/44373

There will be two Open Houses this weekend on Saturday and Sunday from 1-4p. Tell your friends and family to stop by or better yet, you come take a look, too. Homes like these you simply don’t want to miss!

Green Home Features Grow in Demand

2009-01-23T17:33:00.000-08:00

Today's home buyers are asking for more green features as a means of lowering costs, becoming more environmentally friendly, and adopting a healthier lifestyle. "Green features are becoming one of the top three priorities, after price and location," says Joseph Himali, Greater Capital Area Association of REALTORS Board of Directors president.

Green features focus on energy efficiency, water efficiency, resource efficiency, and indoor air quality and include such elements as Energy Star appliances, low-flow shower heads, carpets and paint with low volatile organic compounds, and building materials procured from local suppliers.

The average green buyer will shell out $12,400--on average--for green features, according to the National Association of REALTORS. National Association of Home Builders green-building standards program manager Kevin Morrow expects the market share of green-certified homes to rise to 20 percent in 2010 from about 10 percent in 2009 and 2 percent in 2006. Tax credits and other financial incentives, coupled with green certifications, makes it easier for buyers, builders, and real estate professionals to go green.Source: Washington Times, Lisa Rauschart (01/09/09)

Sweet Listing--Best Value Around

2009-01-23T17:27:00.001-08:00

Everyone is looking for a good deal these days. I just previewed a condo conversion in Madison Valley that is just that… a great deal! These condos were recently released on the MLS and I could not believe the price tags. The units start at just $170,000- all upgraded, secured entrance, washer & dryer and some units have fantastic views of Lake Washington.

It got my wheels spinning about rental investment opportunities given the fact our rental market is strong. It could also be a wonderful place to call home for any first time homebuyer especially with the current incentives Uncle Sam is offering to jump start buying again.

The Cascade View project has been a huge success and received 5 offers in the first weekend! This kind of activity reminds me of the old frenzy days of 2005. It still exists! I give this exceptional project 4 stars on a 5 star rating system.