Captain's Log: Supplemental - 02/27/09 08:12 PM
YES: I realize this is not the first time I've referenced Star Trek in a blog entry;
NO: I've never been to a Star Trek Convention. Not that there's anything WRONG with that...
Sing with me now: 'Star-Trekkin' across the Universe...'
 
What a week this has been! Here are a few highlights:
Stocks up, rates worse, stocks down, rates worse...
Guideline changes-- mortgage insurance is getting tighter, good for FHA...
Tax credit -- can claim it on 2008 taxes???
Seattle rated #1 in how many different ways?
Through it all, I know this for certain: Now is a GREAT time … (3 comments)

Mortgage Rate Update -- heading up and sideways - 02/26/09 06:40 PM
Rates have had a bad run over the last couple of days and we're back solidly into the fives. Well, 5 at least...
5% Rate / 5.152% APRP&I payment: $2,238.55Loan amount: $417,000Equity: 20% / Credit Score: 740Loan Program: 30 Year Fixed
Hey, looks like we are back to a maximum conforming jumbo loan amount of $567,500. 10% down for a conventional loan, 3.5% down for an FHA loan...
And for first time home buyers, the 2009 tax credit can be applied to 2008 taxes if you haven't already filed or you can file an amended return!
As always, thanks for reading … (0 comments)

Home Sale -- Save up to 25% or more! While Supplies Last! Must act now! - 02/26/09 06:14 PM
Ok, if that's not enough to get the fence sitters off their duff and into their Realtor's car, also consider this:
There are currently 15 million students in colleges and they're not all going to move back home after graduating;
60% of current marriages will soon need two households due to divorce;
According to a Harvard study we need 2.7 million MORE homes than are currently in existence by 2011;
In order to get an interest rate comparable to today we'd have to go back to England 315 years ago. Talk about historic low;
The only way to see the bottom … (0 comments)

Mortgage Rate Update -- Friday Wrap-up - 02/20/09 07:35 PM
Foreclosures: bail out or fail out?
While many of the details have yet to be made clear regarding the foreclosure rescue plan, there is certainly no lack of media coverage. The article was written for the New York Times and carried by the Seattle PI (they are cutting back after all), calling the $75 Billion dollar plan 'more ambitious than expected.' So far so good... Read the article here.
Mortgage rates-- it's a photo finish!
Rates finished basically even on the week. Here's how we ended the day:
4.875% Rate / 5.026% APRLoan amount: $417,000Down payment/equity: 20%Loan program: 30 Year FixedMinimum credit score: 720
… (2 comments)

Mortgage Rate Update -- the waves gently lap at the warm sanded shores... - 02/18/09 06:05 PM
It was a day at the beach for interest rates today after a modest improvement yesterday afternoon. Here's what we're seeing for a minimum credit score of 720:
4.875% Rate / 5.026% APRLoan amount: $417,000Down payment/equity: 20%Loan Program: 30 Year Fixed
The past couple of days have brought consecutive price improvements landing us back under 5% after a few weeks of climbing rates. Those who continued to float when we were at 4.5%, this is a second chance to lock-in a rate with a 4 in it.
There is certainly no lack of news to comment on and yet I have remained relatively … (0 comments)

Housing Stimulus' affect on, well, housing... - 02/13/09 08:22 PM
The National Association of Realtors recently made a statement from President Charles McMillan, entitled:
Housing Stimulus and Stabilization Will Help Economic Recovery
(That's an active link if you'd like to view the statement, but the title summarizes it well-enough)
In a separate letter to Realtors that was forwarded to me and became the basis for this post (thanks Louise), NAR reiterated that the steps being taken through TARP, TALP, the new Treasury plan and the Housing Economic Stimulus Bill are all positive moves that will help the current crisis.
Here's my struggle with this -- it seems like an awfully expensive price-tag for what … (4 comments)

Mortgage Rate Update -- who can keep up with this stuff?!?!? - 02/11/09 04:12 PM
Not me, apparently... my apologies for the lack of postings in the past couple of weeks.
Quite the buzz in the news today and I was tempted to rush out with a blog entry on the new tax benefit and how it will work. Except one thing:
WE DON'T REALLY KNOW YET! Stay tuned for more on that soon.
Here's the rate today:
5% Rate / 5.152% APR
P&I payment: $2,238.55Loan amount: $417,000Equity: 20% / Credit Score: 740Loan Program: 30 Year Fixed

As always, thanks for reading! --James Wirth
… (0 comments)

 
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James Wirth

Everett, WA

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James Wirth here, and T-H-A-N-K--Y-O-U for visiting my blog! Here I hope to inspire, educate, and coach those affiliated with the Real Estate industry on how they can better market themselves online & connect with past, present and future clients/customers/contacts


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