Richmond Beach Open House Today & Tomorrow 1-4PM!

Richmond Beach View Home For Sale: Open House Today and Tomorrow 1-4PM

Open house today and tomorrow 1-4PM

$950,000

This stunning home has Puget Sound and Olympic views plus professional landscaping will have you never wanting to leave your own private beach home. If you haven’t been to Richmond Beach, then you should check out this North Seattle coastal community reminiscent of a coastal Maine fishing village in charm. You’re on vacation at home!

If you are interested in this Richmond Beach view home or other Richmond Beach homes for sale, let us know!

Richmond Beach View Homes For Sale? This Is The ONE

Richmond Beach View Homes For Sale?

2535 NW 195th Place, Shoreline 98177

The quintessential Richmond Beach Luxury View Home – This is one of the most unique and special homes I have seen in years and the owner has a distinct care of details like none other I have seen.  Still somehow, it lives comfortably and relaxed despite the luxurious finish work.  The serene beauty that surround this home is like no other and it is an absolute dream.

  • 4 Bedrooms
  • 3.25 Baths
  • 3337 Square feet
  • Built in 1999

Here is the description from the NWMLS:

This stunning, modern NW contemporary w/sophistication takes advantage of Sound and Olympic views and professional landscaping will have you never wanting to leave home. Whether entertaining or relaxing, the main floor is comprised of a sleek kitchen w/quartz and charcoal cabinets, elegant dining and living room focused on the views. Relaxing master suite w/spa bath, den, deck and more views! Radiant heat, media rm, detached garage w/guest quarters included. Voila! You’re on vacation at home!

Open house today and tomorrow 1-4PM

$950,000

If you are interested in this Richmond Beach view home or other Richmond Beach homes for sale, let us know!  realestate@cooperjacobs.com

Richmond Beach, Richmond Beach, Richmond Beach…Holiday Events!

Come join us in Richmond Beach for the wonderful holiday events ahead. Richmond Beach is where it’s all happening. :)

 

 Saturday, December 3, 2011

  1. 2:00 to 4:00 p.m. – Holiday Craft Party
    Richmond Beach Library, 19601 21st Avenue NW

  2. 4:30 p.m. – Tree Lighting Ceremony
    Spin Alley, 1430 NW Richmond Beach Road

  3. 5:30 p.m. – Community Caroling
    Richmond Beach Rehab, 19235 15th Avenue NW

Holiday Craft Party

Kick off the holiday season with your neighbors on Saturday, December 3! Starting at 2:00 p.m. and ending at 4:00 p.m., RBCA will host a craft and ornament party for neighborhood children to create holiday decorations. This event will take place in the meeting room at the Richmond Beach Library located at 19601 21st Avenue NW.

Tree Lighting Ceremony

Then at 4:30 p.m., you are invited to attend the annual Tree Lighting Ceremony at Spin Alley (1430 NW Richmond Beach Road). Enjoy cookies and music of the season while waiting for Santa to arrive and flip the light switch on the live tree which serves as the community holiday tree. Residents and visitors to Richmond Beach will be greeted by the tree’s twinkling lights during the holidays as they meander down Richmond Beach Road.

Community Caroling

At 5:30 p.m., after the tree lighting festivities, join your neighbors at the Richmond Beach Rehabilitation facility at 19235 15th Avenue NW to spread some holiday cheer through song to the shut ins. While this activity only involves about an hour of your time, it has a tremendous impact on the residents of the rehab. They really appreciate the attention. And that is truly what the holidays are about-caring and sharing. Please join us, even if you can’t carry a tune!

Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs Richmond Beach Real Estate web page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698

Economy grew 2.5 pct. in Q3 as consumers rebound

Economy grew 2.5 pct. in Q3 as consumers rebound

Ohhhhh….the dismal and confusing news continues in articles like the one below! No doubt these are really hard times, but never in my 50 years of living have I seen people live in such fear! I’m a Realtor and my husband was umemployed for a year and half….but we made it work! Fear is part of what is weighing us all down. Live your life like there is no tomorrow…take the family to dinner (even if it is Taco Time or McDonalds), hire the gardner, buy the  mocha at Starbucks, treat yourself to that pair of shoes you have been eyeing for the last month. If you have extra resources help your friend, family or neighbor by performing a random act of kindness…you will feel great and they will too! Let’s start living again and in turn get our ecomony moving!  

by Associated Press

KING5.com

Posted on October 27, 2011 at 7:20 AM

Updated Thursday, Oct 27 at 7:20 AM

WASHINGTON, D.C. — The U.S. economy grew modestly over the summer after nearly stalling in the first six months of the year, lifted by stronger consumer spending and greater business investment.The Commerce Department said Thursday that the economy expanded at an annual rate of 2.5 percent in the July-September quarter. That’s the stronger growth in a year and nearly double the 1.3 percent growth in the April-June quarter. It’s also a vast improvement over the anemic 0.9 percent growth for the entire first half of the year.

While 2.5 percent growth is enough to ease recession fears, it’s far below what’s needed to lower painfully high unemployment, which has been near 9 percent for the past two years. Analysts project similar growth for the October-December quarter.

Nonetheless, the report on U.S. gross domestic product, or GDP, sketched a more optimistic picture for an economy that only two months ago seemed destined for another recession. And it was delivered on the same day that European leaders announced a deal that marked a turning point in their two-year debt crisis.

Stocks surged on the European deal and maintained their gains after the report on U.S. growth was released.

“This has been a morning of encouraging news,” said Jennifer Lee, a senior economist for BMO Capital Markets. “The fourth quarter may see some pullback in U.S. economic growth … but the positive details underlying the GDP report should help ease fears of a U.S. recession..somewhat.”

Consumers helped drive much of the growth. They spent at an annual rate of 2.4 percent — more than triple the rate in the spring. They bought more cars, furniture and clothing.

Households also increased their spending on services by the most in more than five years. Spending on services rose a solid 3 percent. Much of the gain was because they spent more on health care and to cool their homes during an unseasonably hot summer.

Still, Americans spent more even though they made less money. Their after-tax incomes adjusted for inflation fell at a rate of 1.7 percent in the summer, the biggest decline since the third quarter of 2009 — just as the recession was ending.

Economists believe that growth in consumer spending, which accounts for 70 percent of economic activity, will be restrained until incomes start growing at healthier levels, which is unlikely until hiring picks up.

“Households funded their extra consumption by running down their saving rate,” said Paul Ashworth, chief U.S. economist for Capital Economics, who predicts growth will cool off in the fourth quarter and next year.

Businesses also helped boost third-quarter growth by stepping up their investment in equipment and software. That category surged 17.4 percent — nearly three times the rate from spring. They also invested more in new buildings, a sign that some could be expanding despite the sluggish economy.

The GDP report measures the country’s total output of goods and services. It covers everything from bicycles to battleships, as well as services such as haircuts and doctor’s visits.

In August, many thought the economy was destined for another recession after the government said growth fell to less than 1 percent for the first six months of the year. High gas prices, the growing debt crisis in Europe and wild fluctuations in the stock market also contributed to those fears, which have receded in recent weeks after reports showed improvements in hiring and consumer spending.

Economists project growth in the range of 2.5 percent to 3 percent for the October-December quarter and for all of next year — just enough to keep the unemployment rate from rising.

For the 14 million people who are out of work and want jobs, that’s discouraging news. And it’s an ominous sign for President Barack Obama, who will be facing voters next fall.

There have been some encouraging signs.A measure of business investment plans rose in September for the second straight month and by the most in six months, according to a government report Wednesday on orders for longer-lasting manufactured goods.

And consumers stepped up their spending on retail goods in both July and September. The main reason for the September gain was more people bought new cars, a purchase people typically make when they are confident in their finances.

Economists warned that even their modest assessment of growth of around 2.7 percent for next year will fall short if the European debt situation does not get resolved. And the outlook could dim further if U.S. lawmakers allow a Social Security tax cut and extended unemployment benefits to expire at the end of this year.

 
Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs Richmond Beach Real Estateweb page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698
 

Flopping – The Latest Short Sale Scam

Flopping – The Latest Short Sale Scam

Ticor Title Blog

Written on October 4, 2011 by admin in Blog, Escrow

Short Sale Loss Mitigation

Short Sale Fraud
It is estimated lenders lose hundreds of millions annually in undervalued short sale transactions. Loss mitigators working on behalf of the lenders have anywhere from 450 to 600 active files on their desks at one time. Working the best deal for the lender is an all-consuming task for the loss mitigators and each short sale has its own complexities.

When a seller applies for short sale approval, the seller submits hardship affidavits and signs forms such as a Purchaser Eligibility Certification which includes statements such as:

In making this request for consideration of a short sale I certify under penalty of perjury:

  • All of the information in this document is truthful.
  • I/We agree that the financial information provided is an accurate statement of my/our financial status. I/We understand and acknowledge that any action taken by the lender of my/our mortgage loan on my/our behalf will be made in strict reliance on the financial information provided.
  • I understand that if I have intentionally defaulted on my existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this document, the lender may cancel any modification of foreclosure prevention agreement and may pursue foreclosure on my home. I understand the lender will use the information in this document to evaluate my eligibility for a short sale.

Even with statements such as these, the loss mitigator still goes through a process to confirm the information provided by the seller is true, but some fraudsters have found ways around this.

A Short Sale Flopping Example

In August 2010 one of our our South Pasadena, Fla. offices closed a short sale transaction. The seller (we will call him Jim Kling) had two loans on the property and the lender on both loans was Bank of America. The sales price was $425,000. Bank of America agreed to the sale and issued short pay approval letters for both loans.

The buyer was a LLC and the managing member of the LLC was Bill Hamley. The buyer purchased the property with cash and did not get a purchase money loan. At closing, the buyer and seller both signed an arm’s length affidavit which contained these statements:

“There are no hidden terms or hidden agreements or special understandings between the Seller(s) and the Buyer(s) or among their respective agents which are not reflected in the Agreement or the escrow instructions associated with this transaction.

There is no agreement, whether oral, written, or implied, between the Seller(s) and the Buyers and/or their respective agents which allows the Seller(s) to remain in the property as tenants or to regain ownership of the Property at any time after the consummation of this sale transaction.”

Cindy Archer at our escrow office was the settlement agent. She closed the sale in accordance with the terms of the short sale approval letters. Upon receipt of the payoffs, Bank of America promptly prepared and recorded a satisfaction of mortgage for each loan.

In April 2011, the buyer decided to sell the property. The seller entered into a purchase and sale agreement, and opened escrow with Cindy Archer. The title report was ordered, and upon receipt of the title report Cindy reviewed the requirements. She ordered the HOA demand, checked the property taxes and looked up the LLC with the state. The LLC was in good standing but the managing member had changed. According to the state the managing member was now Jim Kling. Remember that name? Jim Kling was the borrower who signed an arm’s length affidavit when he sold his home via short sale stating he had no side deals with the buyer. This same Jim Kling was now re-selling his home for almost one hundred thousand more than what he sold it for just eight months earlier. Not in our office he’s not!

Flopping is where the buyer of a short sale purchases the property for less than the true fair market value by influencing the appraiser or real estate agent to provide a Broker Price Opinion (BPO) which undervalues the property.”

How could Jim re-sell the same property less than a year later for $100K more when the real estate market is still depressed? This is the latest trend in mortgage fraud and it is called flopping. Flopping is the opposite of flipping. Flopping is where the buyer of a short sale purchases the property for less than the true fair market value by influencing the appraiser or real estate agent to provide a Broker Price Opinion (BPO) which undervalues the property. This information is provided to the loss mitigator who approves the sale based on the fraudulent information. The buyer then turns around and sells the property at fair market value, realizing a profit the lender should have received. In this instance, both the buyer and seller participated in defrauding the lender.

Flopping is a serious concern.

According to Fannie Mae a flopping scheme requires the perpetrator to conceal or provide falsified information to the loan servicer. This is information the servicer needs to make an informed short sale decision. These concealments may include hiding:

  • The true parties to transaction
  • Any contingent transactions
  • The true value of property
  • The transaction described above was not an arms-length short sale. Clearly the principals worked together to facilitate a reduction to the existing loan, resulting in the original borrower making a profit from the sale of his home. This is mortgage fraud on the part of the seller.

Our Company will not knowingly participate in defrauding or misrepresenting to a lender any facets of a transaction. Cindy had no knowledge of the fraud during the prior transaction. But, in the subsequent transaction, she could see what transpired and was not about to facilitate the completion of this crime. Cindy resigned from the transaction.

Richmond Beach History

Richmond Beach History

Richmond Beach, one of the oldest areas of Shoreline, started as part of ninety-eight acres of land which was deeded to George Fisher in 1872. Mr. Fisher sold that land in 1882 for $846. In 1888, John Papendick bought a tract for $2,050 and in 1889 C W Smith bought 63 acres from Papendick for $4,000 and named the town Richmond Beach, after Richmond, England.
  • Property

    • Property has been bought, sold, divided and developed many times over the years, resulting in the current community of Richmond Beach. People coming to the Seattle area saw Richmond Beach as a place of opportunity and the town grew steadily. The Holloway family settled here in 1889 and their daughter Lena was the first pioneer child born in Richmond Beach.
  • Connecting with the outside world

    • The Great Northern Railroad platform was completed in Richmond Beach in 1891 and the train would make unscheduled stops if properly flagged. The Adams family applied for a Post Office license in 1890 and set aside a room in their store across from the railroad platform for that purpose. The railroad was required to pick up and deliver mail which came from Seattle or Edmonds; the mail sacks were often hung from a metal hook and the mail was taken on the fly. Mail was the primary method of communication with the outside world for the residents of Richmond Beach, bringing personal letters, newspapers, style magazines, Sears Roebuck and Co., and Montgomery Ward catalogues and farm magazines from the East, many of which advertised articles on how to get rich quick on the Pacific Coast. The post office was also the center for local news and gossip.
  • Introducing culture and education

    • A one room school house was built in 1891 on the site of the current Community Park. The first use was for the Congregational Church Sunday School, with regular school classes held for only one month the first year. The second year the school year lasted for five months! J. T. Holloway had built a hotel on Richmond Beach Dr. to house the Great Northern workmen and in 1892 a group of local people raised $22 to begin a local lending library. One hundred discarded books were donated by a librarian in Seattle and the hotel lobby was the first library site. In 1899 the Richmond Beach Library Association was formed with the goal of raising enough money to build a permanent library. The primary way to raise funds was at basket socials where decorated baskets of food, and the privilege of sitting with the person who prepared them, were auctioned to the highest bidder. The present library building was in place by 1913. It is the second oldest library in the King County. A group of people of Norwegian origin founded the Lutheran Church in 1903.
  • Necessities

    • Telephone service arrived at Richmond Beach in 1907, ahead of electricity by seven years. Groceries and supplies could be bought at either St. John’s or Kennedy’s grocery stores. There were also a saloon, a butcher shop and a dance hall at the beach. In 1907, a small depot was built to replace the railroad platform which had served for many years.
  • Transportation

    • Once a few roads were in place, a stage line between Edmonds and Richmond Beach was established. The Ellington boys used seven-passenger Studebackers and Buicks in the beginning and then expanded to 35 passenger buses. Mr. Yost of Edmonds bought them out with the condition that they would continue on as drivers and run the service. The Interurban from Seattle reached Ronald Station at 175th by 1906. Service to Everett was completed in 1910. People also walked long distances for school or business. In 1919, the high school at Richmond Beach only went to the 10th grade. Students who wanted to continue their education either went to Edmonds or Ballard. For those who attended the University of Washington, a typical trip was to go to 145th and Stone Way by bus and then on foot to the university because this was faster than making streetcar connections. Strawberries from Richmond Beach were well known for their size and quality. Farmers who wanted to sell their fresh-picked strawberries at the market in Seattle would leave home with a horse cart at 1 a.m. to be ready to sell on Western Ave. at 5 a.m. After breakfast in Seattle, they would head back home for a little sleep before going out to pick berries in the afternoon and repeat the process the next day.
  • Clearing a space

    • The first people to settle the area needed to do a lot of clearing. Much of the wood that was taken was cut and sold for cord wood. It was hauled to the dock at the original Shell facility (later to become Standard Oil) and tugs, passenger and freight boats would buy it for fuel. Cedar was cut for use as railroad ties. Shingle bolts were cut and hauled to the water where they were made into a boom and sent to Edmonds. Horses pulled the booms along as they waded in the water, while the men would ride the boom and pole it away from the shoreline. Cleared wood was also used to build some homes and to supply shake mills in the Richmond Beach area. What could not be sold was burned, sometimes as much in one day as would be used to heat a house for a year. By the early 1900s, there was a $100 fine for burning from June 15 to Oct.15. This was less for concern about air quality than to protect the coastal timber.
  • Industry and commerce

    • Besides logging, there was a cooperage for making barrels, a brick making plant and a sand bunker operation at Richmond Beach. The Pioneer Sand and Gravel Company sluiced the sand and gravel from the hillside of the present Salt Water Park, making for a wonderful sandy beach for the local residents to use in the summertime. By 1919 the town had grown to include the following along Market Street (now 195th Pl. NW): the railroad depot (on Olympic, now Richmond Beach Dr.), Walloch’s hardware store and the post office, Umbrite’s drug store, Sweeley’s grocery, the Holloway Hotel, Ashton’s pool room, Richard’s barber shop, Paddock’s shoe repair and Dahlquist Hall, where town socials were held. Further east were the library, Taylor’s butcher shop and Kennedy’s general store. Adams Nursery was in business at 8th and Richmond Beach Road.
  • Fires and Natural Disasters

    • The Congregational Church burned in 1923 and church was held in the school until a new building could be erected. Later in 1923, the school burned and classes were held temporarily in the new church. In the 1930s, there was a terrible fire at the Standard Oil plant and at least one person drowned as a result of jumping off the dock. The great snowfall of 1916 was remembered for a long time. Four feet of snow fell in one day. The local stores were well supplied before the storm, but almost empty at the end. At another time a big earth slide occurred when water seeped through the clay soil and resulted in a half mile of railroad track being damaged. It took two days and nights of work to reopen the track.
  • Entertainment and recreation

    • Entertainment was made at home, at Dahlquist Hall and at the churches. Men and women formed a community band to play at social events. The Kennedy family built a dance hall at the beach in 1919. The building was 100 ft. by 146 ft. and as many as 1,500 people would dance the night away on a Saturday evening. It was closed down by the sheriff after a rather short existence. In 1908 a featherweight championship boxing match—the first of its kind in the region—was held at a farm on Sound Beach (now Point Wells). A barn was used as a dressing room and the ring was set up on the beach surrounded by a closed-back, open-air tent. It was held on the border to be more accessible to people travelling by train and boat from the north and south. Notables in the crowd included the Seattle mayor and Chief Joseph.
  • Growing school

    • The Richmond Beach School was completed in 1924. At that time the population of Richmond Beach was 750 and a five-acre tract with a cheap house could be bought for $8,500. The school included both elementary and high school classes and several times the basketball team took the county championship. The last high school graduating class was in 1945 and the school closed in 1971. Baseball was also a popular sport and the Richmond Beach team was well known in the area. There was always a friendly rivalry between the teams from Richmond Beach and Edmonds.
  • Strawberries

    • As mentioned previously, the area was known for the flavor of its strawberries. The berries, picked by local adults and children, would either be taken to market in Seattle or sent by train to other parts of Washington, Montana and Idaho. The berries were put into one quart boxes and some of them were large enough that 18 berries would fill the quart. Twenty-four quarts were placed in a crate which weighed thirty-three pounds. The pay for picking was 25 cents per crate and some kids could pick eight or nine crates in a day. There were also orchards of cherries, apricots, plums, prunes, peaches and quinces in the area. Many people kept cows and milk was sold by the pail.

Note: This history was written from information in the Shoreline Historical Society publications and the centennial history of Richmond Beach Congregational Church. It is more heavily skewed to pioneer information than contemporary because of the sources. Thanks to Vicki Stiles of the Shoreline Historical Museum for updating some outdated historical “facts.”

Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs Richmond Beach Real Estateweb page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698.

Live The Dream….

Richmond Beach View Homes And More - look no further for Richmond Beach Homes for sale than the home search on Cooper Jacobs – Richmond Beach homes for sale by all companies – current MLS listings swept form the NWMLS.  Richmond Beach is well known for its lovely Puget Sound views and if you are looking for a Richmond Beach View Home….you need to see the latest….visit Cooper Jacobs Real Estate http://www.cooperjacobs.com/.

Live the dream in Richmond Beach!

Cobalt Mortgage:  October 17, 2011 – Vol. 9, Issue 42

QUOTE OF THE WEEK…”When you cease to dream you cease to live.”–Malcolm S. Forbes

INFO THAT HITS US WHERE WE LIVE…One dream that, happily, doesn’t seem to be going away is the one we Americans have of owning our own home. In fact, in spite of all the negative news we hear about housing, the percentage of Americans who own their home is still the second highest on record, according to the Census Bureau. Even better, new research reveals that up to two million people are planning to jump into the housing market in the next two years.

The study from a business-to-business media company confirmed that Americans place a high value on homeownership across demographic groups, across the country, even where there have been larger declines in home values. Given today’s prices and super low mortgage rates, 72% of homeowners and 59% of renters polled said that right now is a “good” or “very good” time to buy! Another study found that 80% of homeowners plan to buy another home and most view homeownership as one of the best long-term investments.

Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs Richmond Beach Real Estateweb page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698.

Fall 2011 Parks and Trail Work Parties In City of Shoreline

What a great way to get some exercise and give back to our community! Help keep Richmond Beach and Shoreline beautiful. See the schedule below for the Fall 2011 Parks and Trail Work Parties in the city of Shoreline

Fall 2011 Parks and Trail Work Parties In City of Shoreline

Blackberry Removal Party

Date: 10/29/2011 9:00 AM – 12:00 PM

Location: Interurban Trail
just south of North 165th, 1125 N. 165th
Shoreline, Washington

Come join us at Darnell Park! We plan to remove blackberries and Scotch Broom on the hillock in the northwest corner of the park.

Bring your friends and enjoy the pleasure of improving our park. Please bring gloves and hand tools if you have them! For more information call Dick Decker at (206) 542-1552.

 Volunteer Event at Hamlin Park

Revegetation Project

Date: 11/12/2011 10:00 AM – 2:00 PM

Location: Hamlin Park
15th Ave NE & NE 160th St
Shoreline, Washington

Join Earth Corps, the City of Shoreline and the Kruckeberg Botanic Garden Foundation (KBGF) as we restore a ¼ acre site in Hamlin Park to help revegetate this area that is devoid of significant understory.

Volunteers will be planting native trees and shrubs and should expect to learn native plant identification as well as proper planting techniques. Please wear sturdy footwear, dress for the weather, and bring your own water and gloves if you have them. Meet in the Hamlin Park parking lot nearest the picnic shelter, playground and restroom off 15th Ave NE & NE 160th St. Minors 14-18 must have waiver signed by parent. Minors under 14 are welcome with parent/guardian.

For more information about this volunteer event contact Chris LaPointe, Volunteer Program Manager (206) 322-9296, ext. 217 or chris@earthcorps.org. Please RSVP here.

 Volunteer Event on Interurban Trail

Weeding Project

Dates: 10/23/2011 and 11/13/2011, 11:00 AM – 12:30 PM

Location: Between Interurban Trail Bridges
Aurora Ave N at N. 155th
Meet in Denny’s parking lot by the Interurban Trail

Join the Council of Neighborhoods weeding beds and beautifying the Trail as part of their Adopt-a-Trail efforts.

Please wear sturdy footwear, dress for the weather. Snacks provided. Information: Arthur Peach 206-412-3198.

Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs  Richmond Beach Real Estate  web page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698

Blood Drive – October 22

Current Happeningsdivider

Blood Drive – October 22

Saturday, October 22, 10:00 a.m. to 4:00 p.m.
Fire Safety Center, corner of Richmond Beach Road and 20th Avenue NW

Appointments can be made on the website, www.psbc.org, or by calling 800-398-7888. Walk-ups are welcome and appreciated.

More info: Tom Petersen, 546-4865 or thos.m.petersen@gmail.com

Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs  Richmond Beach Real Estate  web page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698.

Home loans expected to remain affordable in the long term

 

 

 

Like the article says “mortgage rates were up this week bouncing back from record lows”….if you are in the market to buy or sell…don’t sit on the bench and miss your opportunity to experience home ownership with record low interest rates!  This article is worth the time to read.

Inman News October 2011.

Inman News™

Mortgage rates were up sharply this week, bouncing back from record lows following the release of a better-than-expected jobs report, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

While forecasters expect rates on 30-year fixed-rate mortgages will stay well below 5 percent through 2012, strong economic growth could trigger a faster rise in long-term interest rates, including mortgages.

Freddie Mac said rates on 30-year fixed-rate mortgages averaged 4.12 percent with an average 0.8 point for the week ending Oct. 13, up from 3.94 percent last week, an all-time low in records dating to 1971. At this time last year, the 30-year FRM averaged 4.19 percent before climbing to a 2011 high of 5.05 percent in February.

For 15-year fixed-rate mortgages, rates averaged 3.37 percent with an average 0.8 point, up from 3.26 percent last week, a low in records dating to 1991. A year ago, rates on 15-year fixed-rate mortgages averaged 3.62 percent, before climbing to a 2011 high of 4.29 percent in February

Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.06 percent with an average 0.6 point, up from 2.96 percent last week, a low in records dating to 2005. A year ago, rates on five-year ARMs averaged 3.47 percent, before climbing to a 2011 high of 3.92 percent in February.

For one-year Treasury-indexed ARMs, rates averaged 2.9 percent with an average 0.6 point, down from 2.95 percent last week. At this time last year, the one-year ARM averaged 3.43 percent, before climbing to a 2011 high of 3.4 percent in February. The one-year ARM hit a low in records dating back to 1984 of 2.81 percent during the week ending Sept. 15.

A separate survey by the Mortgage Bankers Association showed buyers weren’t rushing to lock in loans at last week’s record lows. Demand for purchase loans was up a seasonally adjusted 1.1 percent from the week before during the week ending Oct. 7, but down 2.9 percent from a year ago.

While an economic recovery could send mortgage rates climbing again, the European debt crisis has raised doubts about whether growth will pick up in 2012.

Economists with the Mortgage Bankers Association are predicting 2012 will be another tough year for home sales, with purchase loan origination volume growing by only 3 percent.

Europe is in or will soon be in a recession, said MBA chief economist Jay Brinkmann, forecasting that the U.S. can expect rising unemployment during the first half of the year and could be headed for “a short and relatively mild recession.”

In a forecast issued Tuesday, Brinkmann said he and his staff expect existing-home sales to remain subdued, at a rate of 4.9 million per year during 2011 and 2012, before increasing slightly to 5.2 million units in 2013 in conjunction with a broader economic recovery.

Although mortgages were affordable throughout the year, MBA economists expect purchase loan originations will total just $400 billion in 2011, down from an estimated $472 billion in 2010.

If 2012 is another year of slow economic growth, the MBA predicts purchase loan volume will again remain below 2010 levels, rising only slightly to $412 billion. Not until 2013, when the economy is expected to pick up steam and home sales and prices are expected to increase, will purchase loan demand show solid growth, increasing to $770 billion for the year, the MBA said.

If an economic recovery remains subdued, the MBA expects rates on 30-year fixed-rate loans will average just 4.4 percent during 2012 before climbing to 4.9 percent by 2013.

In a Sept. 19 housing forecast, economists at Fannie Mae predicted sales of existing homes would rise 2.1 percent next year, to just over 5 million, and 3.1 percent in 2013, to nearly 5.2 million.

Fannie Mae economists said they expect rates on 30-year fixed-rate loans to average 4.3 percent next year, down from a projected 4.5 percent in 2011, before rising to 4.6 percent in 2013.

Freddie Mac economists said in a September forecast they are anticipating a more rapid rise in mortgage rates, with 30-year fixed-rate loans averaging 4.6 percent next year and 5.4 percent in 2013.

Richmond Beach is one of the most beautiful Puget Sound waterfront communities….just NW of Innis Arden which also has some beautiful high bank Puget Sound view homes.  It is South of Woodway and Edmonds, Washingtion. For current Richmond Beach Real Estate listings, please feel free to visit the Cooper Jacobs  Richmond Beach Real Estate  web page or call Therese Byrne if you need help from a local Richmond Beach Realtor 206-660-9698.

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