Just Sold! 3 Bedroom Home in Kent - 08/27/11 01:00 PM

9905 S 230th Street, Kent WA 98031
Closing Date: 08/26/2011Listing Price: $208,900Sold Price: $200,000Bedrooms: 3Bathrooms: 1Year Built: 1958Square Feet: 1340Lot Size: 0.364 AcresMLS: 219534
This Fannie Mae owned home is open and warm with tons of natural light! The living room features a built in area for your entertainment system. This home boasts arched art nooks and beautiful hardwood floors. There is a large dining area off the kitchen. This home has a huge fenced yard and a large deck.
Driving Directions: From I-405, take WA-167 S towards Kent. Take the South 212th street exit (becomes S 212 Wy then … (1 comments)

Energy Saving Tips! - 08/23/11 12:04 PM
Summertime is fun time! It’s also the peak season for electricity use. To avoid energy bill shock and enjoy an energy-efficient summer, follow these tips: If you have one, get your central air conditioning checked annually by a professional HVAC technician to ensure it is functioning at its best capacity.Replace the air filters every three months to keep dust out of the ducts, especially if you’ve had renovations done in your home.Keep the vents clear of carpets, drapery, and furniture, and close the vents in rooms that you don’t use often.Install a programmable thermostat. This will allow you to turn the temperature … (1 comments)

The Debt ceiling Deal and Real Estate - 08/22/11 12:29 PM
After a drawn-out debate between the House and the Senate, Democrats and Republicans; Congress and the President reached a deal on August 2, 2011, to raise the debt ceiling. Because of the decision and the additional borrowed funds, the United States is safe from defaulting on its debt and will be able to pay its bills. The deal includes the following:
Immediately cuts spending by $917 billion and raises the debt ceiling by $400 billion. It will raise the ceiling by another $500 billion in February, providing funds through early 2013. Creates a joint committee of twelve members from the House and … (0 comments)

Supply of Homes Increased in June - 08/18/11 12:01 PM
The supply of homes measured in months on the market at their current pace was up during June compared to May. This is in keeping with inventory levels that typically rise during the summer months.  Month’s supply remained 24% below the peak of 12.5 months in July 2010 and 14% above April of 2010 when the home buyer tax credit was in full swing.
Source: National Association of Realtors Latest Data Release: July 20, 2011
To find the value of your home, visit: http://www.davidjedwards.com/free-home-evaluation.aspTo search the MLS database of homes for sale, visit: http://www.davidjedwards.com/search-for-homes.asp
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Mortgage rates remain at record lows - 08/17/11 12:13 PM
Mortgage rates remain at record lows after steadily declining in May, primarily due to uncertainty in the global and domestic economies. While these incredible rates represent a significant savings for home buyers, experts note that for the benefits to fully be realized, lending conditions must loosen to enable more buyers to take advantage of them. As overall economic activity gets back on track, rates will likely rise to keep inflation in check. In other words, the window of opportunity for buyers to lock in these historically low interest rates may not remain open much longer. 
30-Year Fixed 4.39%15-Year Fixed 3.54%5/1 ARM … (0 comments)

Home prices are up year-over-year and month-over-month. - 08/16/11 12:27 PM
This marks only the fourth time that prices have increased since June 2006. Home prices rebounded 8.9% in June with median home prices rising to $184,300. This is 0.8% above the year-ago level. Median home prices remain close to 2003–2004 levels. The combination of low prices and historically low interest rates means that home affordability is extremely favorable.
Source: National Association of Realtors: Latest Data Release: July 20, 2011, KW TMIR August, 2011
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June home sales were down from a year ago but kept pace with May. - 08/15/11 12:29 PM
Home sales in June were down 8.8% compared to the same month last year when the impact of the tax credit was at its peak. Compared to the previous month, however, sales held relatively steady at 0.8% below May’s numbers. NAR Chief Economist Lawrence Yun cites an unusually high number of contract cancellations the month before as an explanation for the slight easing of sales in June.
Source: National Association of Realtors Latest Data Release: July 20, 2011, KW TMIR August 2011
To find the value of your home, visit: http://www.davidjedwards.com/free-home-evaluation.aspTo search the MLS database of homes for sale, visit: http://www.davidjedwards.com/search-for-homes.asp
… (0 comments)

Real Estate Market Update - 08/11/11 01:18 PM
The U.S. housing market has shown increased stability in home sales during 2011 compared to the previous year. Home prices are up 18% since their low in February. Signs of recovery remain mixed in the economy—employment and GDP came in less than expected while the strong points were in consumer confidence and new home starts.
The debt ceiling has been raised without any drastic changes to occur immediately. Although this prevents a sudden shock to a weakening recovery, over the next year and a half, experts anticipate considerable changes in how the government spends and collects money. The uncertainty of what … (1 comments)

July housing activity around Washington described as “classic good news, bad news story” - 08/10/11 05:03 PM
Sellers of more than 7,000 residential properties listed with Northwest Multiple Listing Service members accepted offers on their homes last month, continuing a stretch of five months with 7,000-plus pending sales. Last month’s 7,182 pending transactions (mutually accepted offers) improved on the year-ago total of 5,571 pendings for an increase of almost 29 percent.
“It’s classic good news, bad news story,” said Northwest MLS director Frank Wilson, branch managing broker at John L. Scott Real Estate in Poulsbo. “The good news is that we seem to be at the bottom,” he remarked, adding, “The bad news is we are just sitting … (0 comments)

Tips for Selling Your House - 08/09/11 01:19 PM
1. Price it right. Studies show that when homes are priced to sell, they not only sell faster, they ultimately command a higher price than homes that sit on the market and get perceived as “stale.”
2. Consider a presale inspection. This will help you to know what items need to be fixed before your home goes on the market. Repairs and concessions made during the negotiation process can end up costing sellers more. KW Research reveals that in 2010, 89% of move-up and 82% of first-time buyers purchased a home in good to excellent condition. 75% of sellers started making … (2 comments)

Fed Discontinues Bond Purchase Program - 08/08/11 12:34 PM
The Federal Reserve Board has announced the end of its $600 billion bond-buying program.  Also known as quantitative easing, the goal of this program was to bolster economic activity and lending. 
When banks are concerned about the ability of businesses and consumers to repay loans, they tend to buy treasury securities, which are guaranteed by the federal government. The Fed’s bond-buying program decreased the yield on treasuries, making them less appealing for banks and making lending to consumers and businesses more appealing. On the other hand, the program created more money and lowered the value of the U.S. dollar. In moderation … (0 comments)

Housing affordability continued at record levels in May. - 08/04/11 05:33 PM
The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to reverse the recent affordability trend.
As of May of 2011, only 13.7% of the median household income went to the median household mortgage.
Affordability By Year:2011 - 13.7% (Up from 13.5% in April of 2011)2010 - 14.8%2009 - 14.5%2008 - 19.3%2007 - 22.6%2006 - 24.6%2005 - 22.0%2004 - 20.1%2003 - 18.5%2002 - 19.9%2001 - 19.4%2000 - 20.7%
Source: Affordability as of … (0 comments)

Mortgage Interest Rates at a Record Lows due to Steady Declines in May - 08/03/11 03:13 PM
Rates are at a record low after steadily declining throughout May, primarily due to uncertainty in the global and domestic economies. While these incredible rates represent a significant savings for home buyers, experts note that for the benefits to fully be realized, lending conditions must loosen so more buyers can take advantage of them. As overall economic activity gets back on track, rates will likely rise to keep inflation in check. In other words, the window of opportunity for buyers to lock in these historically low interest rates may not remain open much longer. 
30 Year Fixed: 4.50%15 Year Fixed: 3.69%5/1 … (0 comments)

National Supply of Homes Remains 26% Below July of 2010's Peak - 08/03/11 03:13 PM
The supply of homes measured in months on the market at their current pace was up during May compared to April. Inventory levels remained 26% below the peak of 12.5 months in July 2010 and 12% above April of 2010 when the tax credit was in full swing.
Source: National Association of Realtors Latest Data Release: June 21, 2011, KW TMIR July 2011
To find the value of your home, visit: http://www.davidjedwards.com/free-home-evaluation.aspTo search the MLS database of homes for sale, visit: http://www.davidjedwards.com/search-for-homes.asp
… (0 comments)

Home Prices Rebounded 3.4% in May - 08/01/11 12:29 PM
Home prices rebounded 3.4% in May with median home prices rising to $166,500. This is 4.6% below the year-ago level and continues to keep the median price close to 2002–2003 levels. Just under 1 in 3 homes sold during May were distressed properties, which typically sell at a 10%–20% discount. This is down 6 percentage points from April and is exactly the same as a year ago. Investors represented 19% of sales, and first-time buyers accounted for 35% of May sales compared to 14% and 46% respectively a year ago at the peak of the tax credit. Home prices and mortgage … (0 comments)