Just back from vacation-we all need one! - 07/26/08 08:14 PM
Hello all:  I just returned today from vacation and encourage all of you to take one whether you feel you need one or not. I was lucky enough to spend it on the Oregon coast with my family. The weather was fantastic and we spent alot of time outdoors whether it was biking, hiking, or eating fresh caught crab for dinner!
Yes, I did remote in to check emails and answered my phone except for yesterday. The interesting thing is we all worry about whether our business will shut down in our absence. Although it's  tougher to conduct business when we're … (6 comments)

My take on bankers vs. brokers - 07/17/08 10:14 AM
I've read a lot about the subject of who it's better to get a loan through. Bankers or brokers? Here's my take on what makes the most sense. First of all, I'm a broker. Theoretically, a broker can work on the customer's behalf to find that perfect loan by shopping with a number of lenders. Of course these days the playing field has been diminished a bit so there aren't as many choices as before.
Bankers on the other hand claim they can get loans approved that brokers can't and loans can close quicker because everything is done in-house. I had … (14 comments)

What's up with Wa.Mu? Stock continues to slip. - 07/16/08 09:53 AM
Good morning all: I came back from vacation on Monday to see that Washington Mutual's stock had dropped 35% in one day. It's now trading in the 3's which is down from over $40/share. Of course they say they're safe but who knows these days. Wa.Mu. has had a rough ride the last year along with several other banks. I read yesterday that federal regulators expect as many as 90 more banks to fail over the next year or so. Every bank claims they're safe because of their customer deposits but here's the rub. The FDIC (federal institution that guarantees your deposits) … (6 comments)

Northwest Market Update - 07/06/08 10:26 AM
Hello everyone: I thought I'd give you a Northwest Market update. I know everyone is wondering about how everyone else is doing. And the media doesn't help. They only report the failures; not necessarily the success stories. So here goes. Up here, there are signs everywhere of a slower market. I'll start with the bad news first. In my building, a builder and a real estate office (they were owned by the same people) shut their doors. A friend of mine's real estate office shut down so she moved her license. Occasionally, I'll see the half-finished subdivisions when I'm out driving. And in … (5 comments)

There are signs of life out there! - 07/05/08 08:49 AM
Good morning: I hope all of you had a fantastic 4th! We ended up down at my brother-in-law's house. He lives on a small lake and had about 75 people there. It was a lot of fun.
I was thinking yesterday about the current real estate market and, although it's still tough, there are signs of life out there. In my world, I'm seeing lenders doing super jumbo loans again that are not at 8%. For example, U.S. Bank will do jumbos to $900,000 (even with cash out) at 5.95%. They are portfolioing these loans. Thus, the better rate. Wells Fargo will … (13 comments)

It's time for us to wake up if we haven't already! - 07/03/08 12:25 PM
Hi all: I opened our local newspaper this morning to the announcement that Starbucks is closing 600 stores and laying off 12,000 employees. This is on top of other news such as Boeing's stock price declining from a high of $110 to $65 and shipments by both FedEx. and UPS being down as much as 20%. And of course we know that our own marketplace has been severly impacted since last summer if not before.
I think it's time for us to wake up if we haven't already! I was reading Colleen Fischesser's blog the other day (thanks Colleen!) about the importance … (8 comments)

Wishing you a happy and safe 4th of July! - 07/02/08 09:01 AM
Good morning all: I just wanted to wish you a happy and safe 4th of July! I always look forward to my brother-in-law's bash at his house. He'll usually have 40-50 people show up with all kinds of food and fireworks. What do you do? I tend to like the 4th because it's such a great family event althought last year we went to a high rise condo in downtown Seattle and watched the 2 big fireworks shows with a bunch of adults. That was a memorable experience. So go enjoy some great food, fireworks (if it's your thing) and fellowship on … (8 comments)

 
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Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans

Bellevue, WA

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The Legacy Group, a division of WJ Bradley Mortgage Capital

Address: 11225 SE 6th St. #110, Bellevue, WA, 98004

Office Phone: (425) 818-2251

Cell Phone: (206) 799-9062

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