There’s room for cautious optimism on the economy.

Last Friday’s news showed that consumers are being understandably cautious with their finances, as the Personal Savings rate remained above 4% once again in February and among the highest savings levels seen in a decade. The last five years can be seen in the chart. And notice it wasn’t that long ago that the US had a negative savings rate – that’s right, as a nation, we regularly spent more than we made.

There’s room for cautious optimism on the economy, as good news was noted on several fronts last week. The housing market received good news when both Existing Home Sales and New Home Sales came in stronger than expected. Additionally, Durable Goods Orders for February came in better than expected, showing the first increase in six months, and the Core Personal Consumption Expenditure Index (Core PCE) showed inflation is presently at tolerable levels. Plus, the US Dollar received a boost when China said it will continue to purchase US Treasuries.

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Just Listed! Remodeled 3 Bedroom Home in Puyallup

6903 162nd Street Ct E, Puyallup WA 98375

Price: $200,000
Bedrooms: 3
Bathrooms: 1.5
Year Built: 1983
Square Feet: 1516
Lot Size: 11,460 Square Feet / .26 Acres
MLS: 29043687

This rambler has been completely updated throughout and is ready for you to call home. Located in the excellent neighborhood of Casa Del Prado, this home has been upgraded with new carpet, fresh paint, a newer roof, vinyl double pane windows and fresh paint on the exterior. The master bedroom boasts a walk-in closet and half bath. The home sits on a large private lot and the yard has been fully fenced in the front as well as the back. There is a dog a run along the side of the home and plenty of off street parking for you and your guests.

For More Information Visit: http://www.davidjedwards.com/33118.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=33118

Driving Directions: From WA-512 W toward PUYALLUP/OLYMPIA, Take the CANYON RD. exit toward SUMMIT. Turn LEFT onto CANYON RD E. Turn LEFT onto 160TH ST E. Turn RIGHT onto 66TH AVE E. Turn LEFT onto 162ND ST CT E. 

If you would like to preview this home, please contact me to arrange for a private showing.

Best Regards!

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

What Happened this Week in Stocks & Housing

Stocks have been trading higher after Treasury Secretary Geithner unveiled a plan to remove toxic assets from financial institutions using money from the $700 Billion TARP fund. The government will mitigate the risk by offering private investors billions of dollars in low-interest loans to finance the purchases.

On Monday, the housing market received good news when the Existing Home Sales came in stronger than expected. And, the US Dollar received a boost when China said it will continue to purchase US Treasuries, despite saying last week they were concerned about the value of those Treasuries.

Rates
Conventional 30 year fixed @ 4.875%
Conventional 15 year fixed @ 4.50@
FHA/VA 30 year fixed @ 5.00%
FHA/VA 15 year fixed @ 5.375%
Dow Jones – DJIA @ 7600 up 322points

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Open House Sunday from 1-4

Elegant Buchan Resale in Brookshire Estates!

4613 241st Ave SE, Issaquah, WA 98029   

Price: $600,000
Bedrooms: 5
Bathrooms: 2.75
Year Built: 1989
Square Feet: 2900
MLS: 29040020

This John F. Buchan home is situated in a private setting on a quiet, low traffic cul-de-sac in Brookshire Estates. The home has a view of Tiger Mountain and boasts a large aggregate driveway, two beautiful brick chimneys, a new 50 year roof, shadow boxing, arched double pane UV resistant windows, elegant brick work, new garage doors and garage door openers, a security keypad and interior sensors that signal when the garage doors are open. The attic is equipped with a solar powered fan and tons of storage. The lot has mature landscaping and backs to a greenbelt. The interior of the home is adorned with a grand foyer, coved ceilings, a sunken living and family room, fresh paint, beautiful wood work, built-in shelving, skylights, hardwood floors, new carpet, french doors and crown molding throughout. The large kitchen has a garden window, walk-in pantry, a Jenn-Air stove that converts to a grill, a new dishwasher and new faucet. The master suite has an elegant soaking tub, new faucets, and walk-in closet.

Property Website: http://www.davidjedwards.com/32961.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=32961

Directions: From I-90, Take EXIT 17 toward E LK SAMMAMISH PARKWAY SE. Turn LEFT onto FRONT ST N. Turn RIGHT onto SE ISSAQUAH-FALL CITY RD. Turn LEFT onto ISSAQUAH-PINE LAKE RD SE. Turn RIGHT onto 238TH WAY SE. Turn LEFT onto SE 46TH PL. Turn LEFT onto 241ST AVE SE. End at 4613.

If you can’t make it to the open house but would still like to preview this home, please contact me to arrange for a private showing.

Best Regards!

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

What the surge in housing starts means to the real estate market.

Housing starts unexpectedly surged in February. Work began on an annual rate of 583,000 homes, a 22% increase from January, posting the biggest jump since 1990. The rebound suggests builders cut production too deeply as the credit crunch intensified at the end of 2008, and they may have to make up for some lost time.

Of course, any sustained recovery in the homebuilding market will be contingent on a recovery in the financial markets. The good news here is that a recovery in the financial markets appears to be under way. Stocks continued to rally last week, though not as much as credit markets. Indeed, 30-year fixed-rate home loans slid by as much as 3/8 of a percentage point to around 5%, nearing record lows. Until recently, 30-year fixed-rate mortgages hadn’t been below 5% since the 1950s.

The latest rally in mortgage rates was spurred by the Federal Reserve’s ongoing efforts to stimulate borrowing. In its latest go-around, the Fed said it would add $750 billion to the till to raise its total purchases of Fannie Mae, Freddie Mac, and Ginnie Mae mortgage bonds to $1.25 trillion by year’s end. The Fed also said it will double its potential note purchases from Fannie, Freddie, and the Federal Home Loan Bank System to $200 billion and absorb as much as $300 billion in Treasury securities, which will add at least as much liquidity to the economy.

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF

View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Refinancing Your Home Even if the Value is Less Than the Current Mortgage

Reasons to Do So:
-Interest rates on mortgage loans have recently declined to levels not seen since the “refi-boom” of 2002-03. 
-All the really bad loan programs are gone. 
-What remains are loans that use common-sense guidelines and require that the borrower can afford to make the payments.  

Key Points for the Fannie Mae Refinance Plus Streamline Loan:
-Owner occupied, second homes and investor properties are eligible
-Liquid assets must cover the funds needed to close
-No limit on multiple mortgage to one borrower for all occupancy types
-Existing mortgage must be current
-LTV 80%+580 minimum credit score – New credit report required
-Income documentation is required 
-Salary/Bonus/Overtime: one current paystub and a verbal Verification of Employment
-If Commissioned or Self Employed: one year tax returns
-Maximum LTV is 105%. Subordinate financing may not be paid off but must be resubordinated.  No new subordinate financing is allowed.
-If the underlying loan does not have mortgage insurance, no mortgage insurance is required on the new loan, regardless of the LTV!
-If the underlying loan has mortgage insurance, the existing MI Company must modify the MI certificate transferring the coverage from the existing loan to the new loan.  The coverage on the new loan must be at the same level as the existing loan, regardless of the new LTV.

Below are two links you can use to see if your mortgage is owned by Fannie Mae or Freddie Mac. Remember, you maybe eligible for a Home Affordable Refinance that will go up to 105% Loan to value.  Only loans owned or guaranteed by Fannie Mae or Freddie Mac are eligible. Your mortgage company can tell you who owns your loan also.  

Fannie Mae                                                
1-800-7FANNIE (8am to 8pm EST)                       
http://loanlookup.fanniemae.com/loanlookup               
Freddie Mac
1-800-FREDDIE (8am – 8PM EST)
https://www.freddiemac.com/corporate

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Open House This Tuesday

Open House Tuesday March 24th from 12:00 PM to 2:00 PM

4613 241st Ave SE, Issaquah, WA 98029   

Price: $600,000
Bedrooms: 5
Bathrooms: 2.75
Year Built: 1989
Square Feet: 2900
MLS: 29040020

This John F. Buchan home is situated in a private setting on a quiet, low traffic cul-de-sac in Brookshire Estates. The home has a view of Tiger Mountain and boasts a large aggregate driveway, two beautiful brick chimneys, a new 50 year roof, shadow boxing, arched double pane UV resistant windows, elegant brick work, new garage doors and garage door openers, a security keypad and interior sensors that signal when the garage doors are open. The attic is equipped with a solar powered fan and tons of storage. The lot has mature landscaping and backs to a greenbelt. The interior of the home is adorned with a grand foyer, coved ceilings, a sunken living and family room, fresh paint, beautiful wood work, built-in shelving, skylights, hardwood floors, new carpet, french doors and crown molding throughout. The large kitchen has a garden window, walk-in pantry, a Jenn-Air stove that converts to a grill, a new dishwasher and new faucet. The master suite has an elegant soaking tub, new faucets, and walk-in closet.

Property Website: http://www.davidjedwards.com/32961.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=32961

Directions: From I-90, Take EXIT 17 toward E LK SAMMAMISH PARKWAY SE. Turn LEFT onto FRONT ST N. Turn RIGHT onto SE ISSAQUAH-FALL CITY RD. Turn LEFT onto ISSAQUAH-PINE LAKE RD SE. Turn RIGHT onto 238TH WAY SE. Turn LEFT onto SE 46TH PL. Turn LEFT onto 241ST AVE SE. End at 4613.

If you can’t make it to the open house but would still like to preview this home, please contact me to arrange for a private showing.

Best Regards!

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Real Estate Market Update

The Federal Reserve announced that it will buy $750 Billion more mortgage bonds last Wednesday. This purchase will bring the total investment to $1.25 Trillion. They are also going to buy $300 Billion in long term treasuries. This will keep the yields of the different types of bonds on an equal playing field. Most are predicting that rates will basically stay in the upper 4’s to low to mid 5’s for the remainder of the year as a result of these actions.
 
However, the Congressional Budget Office increased the projected deficit from $1.75 trillion to $2.75 trillion. This creates huge inflationary pressures on our economy. Once things get turned around, inflation will be the headliner, and our good rate environment will vanish. The mortgage market has been up for a week and a half, housing starts were up for the first time in years and consumers have been spending a little more money lately, so the rate of economic decline already seems to be slowing.
 
The Wall Street Journal reported on a study concerning the relative cost of owning versus renting. The swing is back to historical norms in favor of homeownership in many of our US markets. Over the past 18 years, after-tax mortgage payments have averaged 26% more than rent payments. In 2006 at the height of the housing bubble, mortgage payments reached as high as 66% more than rent payments.  By the end of 2008, mortgage payments averaged just 24% more than rent, the narrowest gap since 2001. Qualified renters need to understand that they must buy this year. They’ll receive an $8,000 credit from the IRS and they will only need 3.5% down with an FHA loan.
 
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Just Listed! Elegant 5 Bedroom Home in Brookshire Estates

4613 241st Ave SE, Issaquah, WA 98029

Price: $600,000
Bedrooms: 5
Bathrooms: 2.75
Year Built: 1989
Square Feet: 2900
MLS: 29040020

This John F. Buchan home is situated in a private setting on a quiet, low traffic cul-de-sac in Brookshire Estates. The home has a view of Tiger Mountain and boasts a large aggregate driveway, two beautiful brick chimneys, a new 50 year roof, shadow boxing, arched double pane UV resistant windows, elegant brick work, new garage doors and garage door openers, a security keypad and interior sensors that signal when the garage doors are open. The attic is equipped with a solar powered fan and tons of storage. The lot has mature landscaping and backs to a greenbelt. The interior of the home is adorned with a grand foyer, coved ceilings, a sunken living and family room, fresh paint, beautiful wood work, built-in shelving, skylights, hardwood floors, new carpet, french doors and crown molding throughout. The large kitchen has a garden window, walk-in pantry, a Jenn-Air stove that converts to a grill, a new dishwasher and new faucet. The master suite has an elegant soaking tub, new faucets, and walk-in closet.

For More Information Visit: http://www.davidjedwards.com/32961.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=32961

Open House: Sunday March 29th – 1:00 PM – 4:00 PM

Driving Directions: From I-90, Take EXIT 17 toward E LK SAMMAMISH PARKWAY SE. Turn LEFT onto FRONT ST N. Turn RIGHT onto SE ISSAQUAH-FALL CITY RD. Turn LEFT onto ISSAQUAH-PINE LAKE RD SE. Turn RIGHT onto 238TH WAY SE. Turn LEFT onto SE 46TH PL. Turn LEFT onto 241ST AVE SE. End at 4613. 

If you would like to preview this home, please contact me to arrange for a private showing.

Best Regards!

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

GOOD NEWS

News headlines have given investors some confidence in the equity markets this week. For example, Citigroup announced that it has a strong capital base and is looking at profits instead of losses over the first few months of the year.

Also giving Stocks a boost were remarks from Treasury Secretary Geithner and Federal Reserve Chairman Bernanke. Geithner stated that the US has done more in the last few weeks than other countries have done in years. Bernanke, on the other hand, indicated that the recession would be over by year-end if the banking situation is stabilized. He also reiterated that major financial institutions would not be allowed to fail.

Have a great day!

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.