On April 5^th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25% and the amount of money that a seller can return to the buyer from their sales proceeds will be reduced from 6% to 3%.

Combine those new changes along with the expiration of the $8,000 or $6,500 Tax Credit and you could be losing thousands of dollars by waiting.

Thought you might want to know.

Escape the ordinary & live the way you want!

11420 228^th St NE, Arlington, WA 98223

Offered at $264,900

MLS# 30663

Escape the ordinary & live the way you want! Plenty of room to roam on this shy 3 acres w/private entrance. Ideal property w/level pasture, fruit trees, mature evergreens for privacy. Features open kitchen, multiple living spaces & tons of room for all! Extra clean & ready for move-in. Property also offers large detached 2 car garage w/workshop in back. Add’l oversized garage w/storage above and even more covered parking. These beautifully wooded grounds are worth owning. Financing available.

Visit www.tourfactory.com/588998 for additional photos. Please call or email me with any questions!

Want to see this add on the go? Text 66958 to 79564 in order to see a mini version on your phone!

Jen Hudson
206-293-1005 cell
360-652-1200 office
jen@jenhudsonhomes.com
CCIM Candidate, CDPE, GRI, Realtor
Windermere Real Estate/M2, LLC
Want to learn more about real estate? Visit my website at www.jenhudsonhomes.com

MLS# 29146200

7808 85th Avenue NE, Marysville

$237,000 with all closing costs, new appliances & repairs included!

$8,000 Buyer Bonus!! New home that backs up to Native Growth! Open floor plan with 3 spacious bedrooms and walk-in closets. This home has a loft upstairs and large backyard. Built green. Close to schools, shopping, restaurants and parks. Live in style in this beautiful home. Special financing through Quadrant home loans. Previous model that has never been lived in. Visit us at our office just next door to view this wonderful home!

Offered at $219,000

MLS# 27080

Stunning 3bd, 2.5ba 1529sf townhouse unit in Rivendale. Custom paint colors throughout. Open kitchen w/granite, upgraded cabinets, tons of counter space, eating nook & so much more. Spacious living area & lots of windows for natural light. Master suite features private bath & walk-in closet. Attached 3 car garage(1 side has 2 car tandem parking) & extra large driveway ensures easy parking all the time. Walking trails throughout community & minutes to all amenities. Call for an appointment today!

Visit www.tourfactory.com/586619 for additional photos. Please call or email me with any questions!

Want to see this add on the go? Text 61436 to 79564 in order to see a mini version on your phone!

Jen Hudson
206-293-1005 cell
360-652-1200 office
jen@jenhudsonhomes.com
CCIM Candidate, CDPE, GRI, Realtor
Windermere Real Estate/M2, LLC
Want to learn more about real estate? Visit my website at www.jenhudsonhomes.com

Incredible Lake Union View!

3658 Whitman Ave N #D, Seattle, WA 98103

Offered at $435,000

MLS# 24434

Enjoy peaceful sunsets or sunny summer days from your unobstructed balcony. Almost new 3bd, 3ba townhome in great Fremont/Wallingford location. Kitchen features upgraded stainless appliances, tile counters, tons of counter space. Home features beautiful hardwood floors & a view from almost every window. Master w/lake view, vaulted ceilings & expands over top 2 floors! Custom fixtures & so much more await. No CCRs or HOA Dues! Must see to appreciate this home.

Visit www.tourfactory.com/586610 for additional photos. Please call or email me with any questions!

Want to see this add on the go? Text 337 to 79564 in order to see a mini version on your phone!

Jen Hudson
206-293-1005 cell
360-652-1200 office
jen@jenhudsonhomes.com
CCIM Candidate, CDPE, GRI, Realtor
Windermere Real Estate/M2, LLC
Want to learn more about real estate? Visit my website at www.jenhudsonhomes.com

20932 4th Ave S, Des Moines

MLS# 4424

Listed at $239,000. Sold for $237,000!

Welcome home to this GORGEOUS VIEW of the sound & marina below. A comfortable 2bd/1ba classic brick home rests on the oversized corner lot. Beautiful picture windows capture the views from your living spaces, kitchen & master! New paint, carpet & laminate wood floors in kitchen. Wood burning f/p, spacious living area & tons of storage built in. Attached garage/shop, enclosed breezeway, a covered entry & RV parking! Fully fenced yard w/fruit trees & garden space. All is complete w/1yr Warranty.

We now know the tax credit was extended to buyers who can sign a contract by April 30 and close on the home by June 30. It’s also been expanded, adding a $6500 credit for repeat buyers to the $8,000 credit for first timers. The NAR’s Yun estimates 2.4 million households should take advantage of the credit this year.

The NAR also released their adjusted overall outlook for this year and next. They estimate existing home sales will grow from 5.19 million in 2009 to 5.66 million in 2010 and 5.7 million in 2011. They see new home sales growing from 375,000 in 2009 to 446,000 in 2010 and 637,000 in 2011. They believe prices have bottomed, projecting a 3.4% hike in the median price for existing homes to $179,800 this year and then a 4.3% rise to $187,500 in 2011. New homes should go up 3.7% this year to a $221,300 median price and then 4.7% in 2011 to $231,700.

>> Review of Last Week

STILL NORTH OF 10,000… Last week, stocks took investors on a wild ride, but when all was said and done, the venerable Dow remained defiantly above 10,000. Investor concerns focused mostly on a “sovereign debt crisis” in Europe. Basically, Portugal had trouble selling its treasuries. Then, Spain, whose 19% unemployment is way worse than any European country except Latvia, raised its deficit forecasts. Finally, people questioned if the Greek government has the fiscal discipline necessary to pay back its loans. European markets tanked and Wall Street roller-coastered.

Investors also aren’t completely sold on our own recovery. The problem of course is jobs, the most lagging of all economic indicators. Weekly initial jobless claims rose by 8,000, a bit worse than expected. Then Friday’s January employment report showed a loss of 20,000 jobs, when a 13,000 gain was expected. But hey, the unemployment rate fell to 9.7%! Average hourly earnings were UP 0.2% for the month and UP 2.0% over last year. Also, total hours are up at a 1.8% annual rate in the last three months. This works out to about 200,000 jobs a month, showing there’s a growing demand for labor, which companies are meeting by increasing hours. Needless to say, they can’t keep that up indefinitely.

Now for some really good news. Personal income was UP 0.4% in December and personal consumption rose 0.2%. Over the past three months, real inflation-adjusted consumer spending is UP at a strong 3.6% annual rate. Not surprising, given that in the last nine months, compensation per worker is UP at a 4.7% annual rate. In line with that, several retailers announced same store sales, with most beating estimates — some by substantial amounts! The ISM Manufacturing index hit 58.4, a five-year high, and ISM Services went to 50.5 in January, signaling expansion in the non-manufacturing sector too.

But for the week, the Dow was off 0.5%, to 10012.23; the S&P 500 slipped 0.7%, to 1066.19; while the Nasdaq was down just 0.3%, to 2141.12.

A volatile stock market, combined with sovereign debt worries, did wonders for bond prices. The FNMA 30-year 4.5% bond we watch ended UP a solid 38 basis points for the week, closing at $101.41. Mortgage rates stayed at the historically low levels we’ve been seeing. But homebuyers and owners looking to refinance should note that the Fed said it will stop buying mortgage bonds March 31. Experts feel this will send rates up a bit.

The preceding is courtesy Inside Lending Newsletter from Tom Lasswell with Guild Mortgage.

After a successful Hill Day on January 21^st, there are no proposals yet for any tax on real estate. Our lobbyists have met with legislative leadership and many other legislators since our Hill Day and so far, there are no bills to increase the real estate excise tax or the B&O tax, and no proposal for a sales tax on services… all of which would harm real estate. Stay tuned, as it is only the 22nd day of a 60-day session (ending March 11th)!

2010 Legislative Priorities: Real Estate is Critical to Economic Recovery!  Washington REALTORS® Priorities include:

1. Ensuring Economic Vitality: Real Estate Market Leads Economic Recovery
Restoring vitality to the real estate market and the state’s economy is the top priority. REALTORS® oppose sales taxes on services that would add thousands of dollars to the costs of a home. We also oppose increasing real estate excise taxes that are already some of the highest in the country, or increasing the B&O tax that is a regressive tax on the gross receipts of a business.

2. Protecting Use of the Real Estate Excise Tax (REET)
This week, some of our REALTOR® Key Contacts sent a message to legislators in relevant committees that REALTORS® strongly oppose five bills that allow the REET to be used for parks or maintenance rather than focusing on badly-needed roads, water and sewer for our growing communities. REET revenue fluctuates with the market and should not be depended on for ongoing maintenance and operations of parks.

3. Protecting Property Owners, Buyers and Sellers: Fair Appraisals for Real Estate Transactions
Last week REALTORS® testified in support of HB 3040, a measure that requires Appraisal Management Companies (AMCs) to verify that they only use licensed or certified appraisers and that appraisals follow the Uniform Standards of Professional Appraisal Practice (USPAP). This includes “geographic competency” or knowledge of property values specific to a local area.

4. Building Better Communities: Environmental Solutions to Help, Not Hinder Real Estate
REALTORS® oppose amending the Growth Management Act (GMA) to add climate change as a mandatory element or goal; a GMA climate change goal increases uncertainty and risk in land use and the real estate market. The GMA already has policies in place that will help address climate change without more regulations that don’t necessarily help the environment, but stifle the economy.

This information courtesy Washington REALTORS®. For additional information and to stay up-to-date on bills and topics visit www.warealtor.org. Thanks for reading, now go take action!

Incentive Part of Ongoing Effort to Stabilize Neighborhoods

WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010.

“Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover. Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help,” said Terry Edwards, Executive Vice President of Credit Portfolio Management. “Homebuyers have the option to choose between financial assistance toward closing costs or new appliances for their home.”

Properties eligible for this incentive are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing which offers homebuyers an opportunity to purchase with as little as 3 percent down.

Jan 19, 2010 - CRE News A majority of foreign real estate investors favor the United States and are poised to increase their activity here this year.

Their allocations for equity investments in U.S. commercial properties this year are up 62% from a year ago and their allocation for debt on those properties are up 83%, according to a fourth-quarter survey by the Association of Foreign Investors in Real Estate. The 200-member Washington, D.C., group, also called AFIRE, holds $842 billion of real estate, including $304 billion in the U.S.

A total of 51% of those surveyed identified the U.S. as providing the best opportunity for capital appreciation, up from 37% that identified the U.S. as the best market a year ago. It is the highest score the country has received since 2003, when it also was rated as the best market by 51% of AFIRE’s members.

By comparison, England ranked number two in terms of prospects for appreciation, cited by 30% of AFIRE’s respondents, while China ranked third with 10% of the responses.

However, London edged out Washington as the most preferred local market, while New York ranked third. A year ago, Washington was number one and London was second.

“The AFIRE survey points to an increased focus and interest in a few select markets in 2010, especially London and in the U.S.,” said AFIRE chairman Werner Sohier, who is also senior portfolio manager for real estate at PGGM, an investment vehicle for Dutch pension funds.

Only 44% of AFIRE’s members ranked the U.S. as the country providing the most stable and secure environment for real estate investments. That was down from 53% who rated the U.S. as the most stable a year earlier.

Still, the U.S. remains by far the leader in terms of perceived security and stability. Germany ranks number two in that category, cited as the most secure and stable by 21% of the responses and Canada placed third with 14%.