What a fantastic property!

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While holding this Issaquah Highlands gem open today, I have found if to be such a peaceful, and charming home! I’ve had a few moments to sit on the front porch, on this beautiful, sunny afternoon. Such a serene and quiet street, with just enough sun and shade on the front porch to make this space dreamy. All I hear is the soft sound of the warm summer breeze through the leaves of all the surrounding trees. The sweet smell of roses and lavender, planted intentionally, just off the front porch, make this space absolutely heavenly. I really could sit here all day. Stop by and experience this for yourself. This is a property not to be missed. 1 block to a great little park. A quick walk to dining, shopping and entertainment. What more could you ask for?

1567 NE Iris St, Issaquah, Wa. 98029

 

Issaquah Highlands Home Just Listed!

 

iss front 2

This is a beautiful property in the popular area of Issaquah Highlands. Located on a quiet street, yet close enough to the popular amenities of the highlands, to be a very sought after location. Close to shopping, parks and with quick access to the I-90, this property is exceptionally placed. At the top of an elegant stair, up just high enough from the sidewalk below to give ample privacy, a private porch greets you. Perfect for sitting on warm summer afternoons. A lovely entry, with vaulted ceilings, presents a warm and comfortable welcome to all who enter. Gorgeous wainscoting and large windows, bring elegance and light to your formal dining room. A large open kitchen, with breakfast bar is exceptional for entertaining, as it is right off of the open living room. French doors lead to your private, fully fenced back yard and patio for play and relaxation. The upper floor houses all three bedrooms. The large master bedroom is filled with light from the large windows. It has its own master bath, with jetted tub, and separate W.C. and walk in closet. The other two bedrooms are ample sized with large closets and lots of light. A second full bathroom completes this floor. The lower part of the home, houses an extra-large two car garage and utility room, for your convenience. This home is exceptionally priced for the value of its construction and the area, it will not last long.

Offered at $514,800.

Open Houses :

Friday 11:00 – 2:00

Saturday 11:00 – 2:00

Sunday 12:00 – 3:00

1567 NE Iris, St, Issaquah Wa. 98029

 

 

Real Estate Market Data

Some Interesting information on the most recent Mortgage rate climate in the nation. It is always prudent to keep a close eye on the market in every way. This great article was shared with me by a fantastic resource, from an excerpt from the Shirmeyer Rate Market Report, and Sigma Research Inc.

Description: Description: Description: Description: LOGO COLOR

Dave Skow – WA MLO #278613

Eagle Home Mortgage

w 206 714 9745

fax (877) 412 2557

dskow@eaglehomemortgage.com

www.eaglehomemortgage.com/daveskow

 

Wednesday, June 19, 2013 4:30 PM


The FOMC policy statement and Ben Bernanke’s press conference this afternoon were designed to provide some comfort to rate markets. Simply said, so far all of it fell on deaf ears in the actual markets, especially the bond and mortgage markets. Bernanke in his press conference laid on in somewhat more detail what the Fed is presently thinking about the QEs, inflation and economic outlook. The Fed now believes that unemployment will continue to decline slowly and that the economic outlook is and has been improving. According to what he said, and in the context of the FOMC policy statement Bernanke did say based on present incoming information and what the Fed believes now, the end of QEs will likely be by Md-2014 at which point their easing’s would end completely; in the meantime the Fed will begin tapering soon as long as the economic assessments remain as the Fed sees it today. Of course he went on to couch the timeline, saying it is all data dependent. Throwing out a fig leaf, Bernanke added that if the forecasts turn out to be wrong in terms of employment and economic growth the Fed will be ready to increase QEs. The FOMC and Bernanke at his press conference confirmed that the FF rate will remain at 0.0% to 0.25% until unemployment rate falls to 6.5% or less; be reminded it is only a target and not cast in stone that when and if unemployment hits 6.5% the FF rate would automatically increase.

 

FOMC Excerpts:

 

“Information received since the Federal Open Market Committee met in May suggests that economic activity has been expanding at a moderate pace.”

“Labor market conditions have shown further improvement in recent months, on balance, but the unemployment rate remains elevated.”

“Household spending and business fixed investment advanced, and the housing sector has strengthened further, but fiscal policy is restraining economic growth.”

“Partly reflecting transitory influences, inflation has been running below the Committee’s longer-run objective, but longer-term inflation expectations have remained stable.”

“The Committee sees the downside risks to the outlook for the economy and the labor market as having diminished since the fall.”

“The Committee also anticipates that inflation over the medium term likely will run at or below its 2 percent objective.”

“To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month.”

“The Committee is maintaining its existing policy of reinvesting principle payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.”

“The Committee will closely monitor incoming information on economic and financial developments in coming months.”

“The Committee will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability.”

“The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes. In determining the size, pace, and composition of its asset purchases, the Committee will continue to take appropriate account of the likely efficacy and costs of such purchases as well as the extent of progress toward its economic objectives.”

“To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of monetary policy, the Committee will also consider other information, including additional measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent.”

“Voting against the action was James Bullard, who believed that the Committee should signal more strongly its willingness to defend its inflation goal in light of recent low inflation readings, and Esther L. George, who was concerned that the continued high level of monetary accommodation increased the risks of future economic and financial imbalances and, over time, could cause an increase in long-term inflation expectations.”

 

I hesitate to report this, but it is news; between the FOMC policy statement at 2:00 and Bernanke’s press conference at 2:30, CNBC had an interview with Bill Gross of PIMCO. Gross back in April was outspoken as we were that the end of the low bond rates had ended…and it has. Gross though told CNBC that PIMCO was presently a buyer of long dated treasuries and not a seller. When questioned he said the yields for his portfolios are beginning to look attractive. We recommend not tying your wagon to that view until the actual market suggests rates may rally a bit. Until the technical indicators reverse and as we have said for two months, the bond and mortgage markets are bearish. Consumers and loan originators that have resisted taking the increasing rates are feeling the pain at the moment. I still hold we will see some rebound from the climb, but until it occurs, and at what levels, the only way to look at the present market is that interest rates are showing no signs of any significant rebound.The 10 yr note will climb to 2.40% before it finds the next support—-that is only 5 bps way now.

 

Tomorrowweekly jobless claims at 8:30 are expected to have increased by 6K to 340K; At 10:00 May existing home sales are expected up 0.5% frm April. At 10:00 the June Philadelphia Fed index is expected at 1.0 frm -5.2 in May. Also at 10:00 May leading economic indicators are thought to be +0.2%.


PRICES @ 4:00 PM

10 yr note:                     -41/32 (128 bp) 2.34% +16 bp

5 yr note:                       -30/32 (94 bp) 1.26% +20 bp

2 Yr note:                       -3/32 (9 bp) 0.31% +5 bp

30 yr bond:                    -30/32 (94 bp) 3.40% +6 bp

Libor Rates:                  1 mo 0.191%; 3 mo 0.272%; 6 mo 0.409%; 1 yr 0.668%

30 yr FNMA 3.5 July:     102.24 -104 bp (-116 bp frm 9:30)

15 yr FNMA 3.0 July:      103.39 -64 bp (-71 bp frm 9:30)

30 yr GNMA 3.5 July:     103.41 -141 bp (-158 bp frm 9:30)

Dollar/Yen:                    96.98 +1.65 yen

Dollar/Euro:                  $1.3266 -$0.0128

Gold:                             $1358.70 -$8.20

Crude Oil:                     $97.84 -$0.60

DJIA:                             15,112.19 -206.04

NASDAQ:                      3443.20 -38.98

S&P 500:                       1628.93 -22.88

Private Escapes: Buying a Vacation Home

Vacation home in Phuket

“Whether in a warm-weather locale or on a snow-capped mountain, owning a second home affords the opportunity to escape to your very own private sanctuary. In a recent survey released by the National Association of REALTORS®, 78 percent of vacation and investment buyers reported that now is a good time to purchase real estate.”

An excerpt from this amazing article about Vacation homes from Sotheby’s International Realty.

http://sirluxuryrealestate.com/2013/06/20/private-escapes-buying-a-vacation-home/

Why Sotheby’s International Realty?

Many of you have asked me “What is Sotheby’s International Realty?” Another questions has been, “What makes Sotheby’s International Realty different from any other realty?” Well, have a look at this quick video! It will answer a lot of those questions and more.

Sotheby’s International Realty is an amazing company, full of some of the world’s most educated, experienced, and diverse employees and associates. It offers not only quality, luxury, distinction and taste, but also offers a global perspective with access to all the fine things our world has to offer. Take a look and see why Sotheby’s International Realty is known the world over for all of those things and more, for over a hundred years. Align yourself with that lifestyle, and give yourself access to the wonderful world of Sotheby’s International Realty.

http://www.youtube.com/watch?feature=player_embedded&v=YQ_DH5o5X-c

 

Cash Buyers Are Fueling Quick Home Sales!

Buying homes with CashThis is a great article in the New York Times on how cash buyers are changing the buying market today. We have been seeing this here in our neighborhood for months now. It is an amazing new phenomenon, and makes for a very exciting home sale! From personal buyers to investors, we are seeing cash buyers make offers on nearly every sale. As my wise mentor Joseph Brazen always says “Cash is King!”. He is absolutely right. When two identically priced offers are presented, one cash, one financed, the cash buyer always prevails. Great article to keep up with the trend.

http://www.nytimes.com/2013/06/09/us/cash-is-fueling-quick-home-sales.html?_r=0

 

Just Listed!

Just listed REO in Bellevue , 5 bedrooms, 3 baths for $$420,750, offers presented at 3pm on Monday – 3 in already – open Sunday @ 2017 NE 164th Ave, Bellevue, Wa. 98008, from 1:00pm – 4:00pm

This house is located less than 1 block from Interlake High school, one of Bellevue’s top schools. A great sized home for the price in this popular area. Perfect for an investor, or someone looking for a fixer, in this coveted area. Will not last at this price. For seller financing incentives, agents and their buyers are requested to contact our designated Chase Loan Officer. Call the Listing Agent for details.  Erin Harold – (206) 326-8961Bellevue - Interlake Neighborhood

MLS #496960

 

12 Questions To Ask The Appraiser

This is a great article about how to qualify an appraiser before hiring them to analyze  and appraise your property. An extremely important step to get accurate and reliable results. This will allow you to make the very best decision regarding the sale or purchase of a property.

http://www.americanappraisals.com/12_questions_to_ask_the_appraiser.htmhas

Sotheby’s International Realty Exclusive Waterfront Property Search !

Luxury Waterfront

Luxury Waterfront

Sotheby’s International Realty is the only real estate company that has a
“waterfront specific” search engine for you to locate or list a
waterfront property. This allows you to find exactly what you are
searching for. It also allows you as a seller, to offer your waterfront
property to every buyer looking for specific waterfront properties, all
around the globe. Experience the distinction, and the powerful marketing
that Sotheby’s International Realty can offer you. Explore the opportunities by following
the link above and start the journey to your perfect waterfront dream
property!

 

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