Real Estate Information

Please join us at our next Home Buyer Class!

Thursday, November 10th - 6:30pm

Located at Bank of America

27103 185th Ave SE

Covington, WA 98042

At the class we go over:

- What type of financing programs are currently available
- How to get pre-approved for a loan
- How you can own a home for less than what it costs to rent
- What is the process involved in purchasing home
- Where our real estate market has been and where it is headed from here

Take a look at some of the great deals available in today's market:

2 bedroom condo in Belltown, sold for $429k brand new in 2008, now available for $302k!
http://www.happyhometeam.idxco.com/idx/3647/details.php?idxID=041&listingID=190394

Brand new 3 bedroom home in Maple Valley for just $1,075 a month!
http://www.happyhometeam.idxco.com/idx/3647/details.php?idxID=041&listingID=218180

Experts are forecasting property values to increase nearly 25% in the Puget Sound by 2013. Read the article here:
http://realestate.msn.com/blogs/listed-valuation.aspx?post=ac96385f-74c6-497f-bf39-38f45ee90d1b&GT1=35012

If you have already bought a home with us, THANK YOU! Please do us a huge favor and forward this on to anyone you think might benefit from this information.

Also, we are basically walking home buyer seminars, so if the timing or location is not convenient for you, please send us a message and we can coordinate something more convenient.

More information at www.BuyerClasses.com

Space is limited. If you would like to guarantee a seat please call 1-888-499-0684 ext. 2008

FREE list of BANK OWNED HOMES

and other Great Buys in our market at:

www.SpeedyHomeFinder.com

In the midst of all the negative news you may be hearing right now in the media, the Gerisilo's Happy Home Team has been busier than ever. We are happy to report that we are still getting great results for our clients.

In the last two weeks we have:

• Listed 3 homes and sold one in 4 days
  
• Sold 4 other listings
  
• Received short sale approval on 3 properties, saving those families from foreclosure
  
• Closed 2 buyer sales
  
• Closed a listing sale. Thank you everyone for your referrals!!!

It's important you know we have time for you, your friends, and your family members to whom you would like to refer our services. So, as these people come to mind, just give us a call with their name and number. We'll be happy to follow up and tend to their real estate needs. And, to show our appreciation, for every referral we will treat you to a free Starbucks coffee! In addition, at closing you will receive a gift certificate for $150.00 at the store of your choice.

Please don't keep us a secret! Call us anytime at 425-413-6428 or email info@HappyHomeTeam.com

One of the few remaining true zero down home loan programs out there is the USDA Rural Home loan. This is a government sponsored 30 year fixed mortgage product that is available in certain geographic areas. More information on the loan and property eligibility can be found on the USDA's website.

For the first time in the history of USDA, the Single Housing Guaranteed Loan Program has implemented an Annual Fee.   The annual fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal balance for the life of the loan. 

Effective October 1, the upfront guarantee will decrease from 3.5% to 2% for purchase loans.   The up-front guaranteed fee for refinance loan transaction will remain at 1 percent.   In addition, an annual fee of .30 will be calculated when the loan is made and every 12 months thereafter until the loan is paid in full or no longer outstanding and the guarantee cancelled or expired. 

Overall, this change increases the monthly payment $15.88 per $100,000. For example, on a $100,000 home with 6% interest, the PI (with a 3.5% up front guarantee fee but not monthly fee) would be $620.53. With the new guidelines (with the upfront guarantee fee of 2.00 and the annual fee of .30), then the payment (PI and monthly fee) would be $636.41

• Currently there are 1,112 Single Family Homes available in King County for under $200k. There are 75 Single Family Homes available in King County for under $100k!
• The lowest price finished house sale year to date was $42k for a home in Auburn on a shy acre in need of extensive repair
• The highest price house sale year to date was $14,750,000 for a 1.93 Acre parcel of land on the tip of Hunts Point on Lake Washington with 846 ft of waterfront
• Rents are rising and vacancies falling, according to a report that tracked leasing data across the country. For the second quarter, rents rose in all but two of 82 markets, while vacancies dropped in 72 of them, sending the vacancy rate to 6%, its lowest level since 2008. Another report showed rental listing prices up 6.7% nationally in June versus a year ago.
  
• 50% of home buyers in 2010 were first time buyers

Click the graph to view full sized

Over the last 20 years, 30 year fixed mortgages have averaged 6.93%, and over the last 50 years they have averaged 9.1%

As you can see from the graph above, mortgage rates are currently at historic lows. This is only the second time since World War II that interest rates were averaging under 5% for the year. To see what the impact of just a 1% increase in your mortgage rate would do to your payment, check out our Power of 1 article.

To find out how you can take advantage of today's amazing low rates and affordable house prices call us today at 425-413-6428 or email info@HappyHomeTeam.com

According to a recent article by Newsweek, Seattle is the 5th longest living city in the US. The average male life expectancy in the last decade in Seattle is 77.5 years and the average female life expectancy is 81.9 years.