Real Estate Information

As if the process of buying and selling a home in Seattle wasn't hard enough, the moving is even worse. Trying to decide if you need a 20' truck or an entire moving crew equipped with an 18 wheeler can be exhausting. We have discovered a secret weapon in being green and getting some of your life back. It is a website called kashless.org.

Kashless.org is the world's largest online marketplace and community where people can find things they need and get rid of things they don't. The company bills it as ReCommerce, and the best part is - everything on Kashless.org is FREE. Whether you're looking for furniture, bedding, clothing, office supplies, construction materials, or even electronics, Kashless.org is the only place you need to go to find or dispose of just about anything online. The members of TeamTroy have used the site to find a free computer desk, driveway pavers, urban chickens, and even free sod for the front lawn.

The site searches Craigslist and Freecycle and combines the listings in one convenient spot. It also allows you to share your posts across Facebook, Twitter, and e-mail informing all your own friends first you have free stuff to give away. They even allow you to save searches of your dream items and kashless will notify you via SMS and/or email immediately when someone else posts what you are looking for.

While born and based in Seattle (Founded by a local entrepreneurial genius named Martin Tobias.), Kashless.org is now available in more than 100 metro areas across the U.S.. (Almost as big a presence as Keller Williams.) So check out kashless.org as soon as you are ready to buy or sell a home in Seattle with TeamTroy. We save you time and money on the real estate transaction, they will save you time and money in moving! (While being Seattle-chic and eco-friendly too.) Hey, if you went really crazy and gave away a ton of stuff on kashless, maybe we could find you a hip condo in Queen Anne and help you sell the 4000 square foot Craftsman in Shoreline with the no longer needed three-car garage!

During the last few months we stepped back, reflected and imagined how much more impact we could have on our colleagues, clients, communities, the planet, and our business if we set our sights crazy high. We identified three areas of focus where we believe our impact could be the greatest: Relationships, Community, and Planet. In each area, we set immediate and practical parameters and insane (some say impossible) goals to encourage us, and a dedication to share our progress with you via our blog and other social networking sites like Facebook and Twitter.

Some of the immediate things you may have noticed:

• NEW BRANDING –

  We simplified and clarified our name brand. You will notice the new cards, new website, new slogan, and most importantly - new FOR SALE signs, Let us know what you think.

• NEW OFFICE –

  Since our inception, we have been based out of the Bellevue, WA and Kirkland, WA office's of Keller Williams Realty. As part of our crazy new plan, we felt we needed to be closer to the action. Because all cultural change emanates from urban cores like Seattle, and because the Keller Williams Greater Seattle team is doing crazy business and enjoying insane growth; we believe we will have the best ability to inspire and be inspired at our new home in Seattle. Stop by and see our new digs.

• BIGGER TEAM –

  Apparently being crazy is attractive. As we are now known as being a little crazy, more agents are joining TROY in being “real in real estate”. We are excited on where this expansion is headed and hope you stay connected.

• CRAZY GOALS –

  Our first order of business was the invention of Uganda Project. We have decided to give away at least $100,000 dollars by November 2012. We have partnered with Team Five Morris and Sojourn Ministries to develop sustainable business opportunities in Uganda. This money will launch large and small-scale aquaponic projects to allow African families to grow their own fish and vegetables as well as generate sustainable financial support for ongoing HIV/AIDS programs, church plants, and orphanages.

• COMMUNITY –

  We broke down walls. No longer do we group personal friends, church friends, neighbors, family, and business contacts. We combine them all in one big pot. Neighbors are welcome to our homes and office anytime. The non-profits we serve are now encouraged to take advantage of our high-tech conference rooms and modern meeting space for free. Do you want to watch our kids play league football or soccer? We publish game times and schedules online. (We will even buy you a cup of coffee.) Want free dinner and a chance to meet new folks? Stop by Bryce’s house at six every Thursday night for Community Group. When was the last time you saw a school play? We are not talking about an inbox full of spam, but a chance to encourage authentic community. Let’s do life together.

Time is running out! Only days left to take advantage of the $8,000 federal tax credit for first time home buyers. Purchases must be made before December 1st of 2009 in order to qualify.

First time home buyers are considered those who have not owned a home for three years. This tax credit is equivalent to 10% of the purchase price of the home, capping at $8,000 and is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit. Married couples need a gross income of $150,000. Those earning more may be eligible for reduced credits. The new home has to be their principal residence for three years.

This is just another great reason to now buy a home. To see a video explaining the tax credit, please click here. The Troy Anderson Real Estate Team would love to help you find the home of your dreams. Please contact us soon as possible why the $8,000 is still available.

Rates Take Another Dip!
The Labor Department reported today that
263,000 jobs were lost in September. This is
much worse than the expectations of 175,000.
Unemployment is now at 9.8%...the highest level
in 26 years. Analysts are concerned the
recession will be much slower to recover from
than many previously thought.
All of this has led to lower mortgage rates for
the week. These low rates may not stay around
for long though. The Fed has recently announced
they will be backing out of buying mortgage
backed securities in the first quarter of 2010. The
Fed purchasing of mortgage backed securities
has been one of the biggest forces keeping
mortgage rates down at record low levels over
the past year. Most analysts agree that when the
Fed stops buying mortgages, rates will go up.
Next week the Fed is auctioning off a record
level of treasury notes. Since Treasuries compete
for the same investment dollars as mortgage
backed securities, this can cause an oversupply
in the market, which ultimately can lead to higher
mortgage rates.
Now is the time to lock into a great long term
interest rate. Don’t miss out!
Average Rates as of October 2nd
(Owner-occupied transactions) Rate APR Points
30 Year Fixed Conforming 4.750% 4.885% 1
30 Year Fixed FHA 4.875% 5.751% 1
15 Year Fixed Conforming 4.250% 4.477% 1
30 Year Fixed “Conf. Jumbo” 5.000% 5.128% 1
Max loan amount $506,000
30 Year Fixed Jumbo 6.125% 6.260% 1
Max loan amount $1,000,000
5/1 ARM 3.875% 4.202M% 1
Max loan amount $500,000
5/1 ARM Jumbo 4.125% 4.298% 1
Max loan amount $1,500,000
Note: Rates based on purchase transactions, credit scores over 740, vary by lender, loan
size, loan-to-value ratio, loan type, loan purpose, buyer’s method of income/asset
documentation, credit history, length of lock term and other factors. The rates above
should therefore be considered as estimates and are subject to change without notice.
You are receiving this information as a result of your ongoing business relationship with a representative of LoanCentral LLC. While beneficial to a wide audience, this
information is also commercial in nature and it may contain advertising materials. Rates subject to change without notice.
Market Update
October 2, 2009
3 Month Trend for the National Average Rate
for 30 Year Fixed Loans Priced With 1 Discount Point

Rates are excellent to start this week. Please let me know if I can help you out with anything this week.

30yr fixed conventional ($417,000 or below) 4.875%

30yr High balance conventional (over $417,000 to $563,000) 5.125%

Jumbo 5/1 arm 4.75%

conv. 5/1 arm 3.75%

conve 5/1 IO 3.875%

FHA 30yr fixed 5%

FHA 30yr fixed High balance 5.125%

*The above rates are effective as of 9/28/2009. Rates based on purchase transactions, credit scores over 720, vary by lender, loan size, loan-to-value ratio, loan type, loan purpose, buyer’s method of income/asset documentation, credit history, length of lock term and other factors. The rates above should therefore be considered as estimates and are subject to change without notice. Some programs may have pre-payment penalties.

Brandon Roy

WA LICENSE # 510-LO-46367

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:*

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.

2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.

3. Don’t charge your credit cards to the maximum limit.

4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.

5. During the process of qualifying for and obtaining a mortgage, play it safe and wait until after your contract has closed and the mortgage is secured to open new credit.

6. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.

7. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

The Troy Anderson Team works with great lenders and mortgage brokers every day. Call us and we will set you on the track to getting the home you always wanted.

*Source: Realtor Magazine & myfico.com

Mortgage Backed Securities Started up this week but are making a small move down. They have been bouncing around the same range for the last 8days keeping  30 yr rates flat compared to last week. With Arms getting a little better this week.  Also for any of you working with borrowers in the Jumbo range we have great jumbo arm pricing and can go to 80% ltv up to 1 million.

30yr fixed conventional ($417,000 or below) 5%

30yr High balance conventional (over $417,000 to $563,000) 5.25%

Jumbo 5/1 arm 4.75%

conv. 5/1 arm 3.75%

conve 5/1 IO 3.875%

FHA 30yr fixed 5%

FHA 30yr fixed High balance 5.25%

*The above rates are effective as of 9/09/2009. Rates based on purchase transactions, credit scores over 720, vary by lender, loan size, loan-to-value ratio, loan type, loan purpose, buyer’s method of income/asset documentation, credit history, length of lock term and other factors. The rates above should therefore be considered as estimates and are subject to change without notice. Some programs may have pre-payment penalties.

30yr fixed conventional ($417,000 or below) 5%

30yr High balance conventional (over $417,000 to $563,000) 5.25%

Jumbo 5/1 arm 4.75%

conv. 5/1 arm 3.875%

conve 5/1 IO 4%

FHA 30yr fixed 5%

FHA 30yr fixed High balance 5.25%

*The above rates are effective as of 9/01/2009. Rates based on purchase transactions, credit scores over 720, vary by lender, loan size, loan-to-value ratio, loan type, loan purpose, buyer’s method of income/asset documentation, credit history, length of lock term and other factors. The rates above should therefore be considered as estimates and are subject to change without notice. Some programs may have pre-payment penalties.

Hope you have a great weekend! below are a quick look at where rates are at today. let me know if you have any questions or people who could use my help.

30yr fixed(conforming) 5.125%

30yr FHA  5.25%

5/1 arm (conforming) 4.00%

Jumbo 5/1 arm 5.00%

The above rates are effective as of 8/24/2009. Rates based on purchase transactions, credit scores over 720, vary by lender, loan size, loan-to-value ratio, loan type, loan purpose, buyer’s method of income/asset documentation, credit history, length of lock term and other factors. The rates above should therefore be considered as estimates and are subject to change without notice. Some programs may have pre-payment penalties

Housing Market Shows Signs of

Improvement!

National existing home sales were

reported today at 5.24 million, better than the

expectations of 5 million. The inventory of

unsold homes remained at a 9.4 month supply,

the best level in a year but still indicates a

huge over-supply.

The housing market continues to show

signs of stabilization, and although home

prices are not about to move higher, the

decline certainly seems to have subsided.

Locally we are seeing the purchase market

picking up steam as well. Pending sales are up

approximately 23% over last year in the King /

Pierce / Snohomish county area.

An increasing number of first time

homebuyers are moving into the market to

take advantage of record low interest rates

along with the $8,000 first time homebuyer tax

credit. Only 71 business days remain to close

in time to qualify for the tax credit!

The economy is currently in a bottoming

process. Fed Chairman Bernanke declared

this week that the global recession is officially

over. Our current housing opportunities will not

last forever. Rates will rise. Housing prices will

rise. Tax credits will go away. Will you be the

one who capitalized on this amazing

opportunity…or missed it?