Winter Home-Buying Smart, Experts Say…..


Holidays, cold weather and vacation time create a vacuum of inactivity in the U.S. real estate market, which is why experts recommend picking up a bargain during this time if at all possible. People selling during this time are obviously motivated, which may mean better prices. Experts say this is particularly true this year, because home prices and mortgage interest rates are expected to climb before the spring selling season begins. Buyers should remember that homes may not show well in winter and should accommodate for that when evaluating a potential purchase. For more on this continue reading the following article from TheStreet.

Interests rate are staying put today!! The time to buy is right now!

I wanted to share a great article with you, that was given to me by my associate Adrian Webb, at Cobalt Mortgage in Kirkland. It clearly discussed the reasons that the Fed’s decided today to keep interest rates steady. This is great news for buyers and sellers!! Buyers can still afford to buy that home, and sellers will still be able to attract several buyers for their property! Get those rates locked in, and let me find you your dream home!

Thank you for the tip Adrian, and sharing Ryan Smith’s article with all of us! Such great news for the market today!. (You will find Adrian’s contact info below)

Fed says no to taper

by Ryan Smith | Sep 18, 2013

Flying in the face of market predictions, the Federal Reserve today decided to “await more evidence that progress will be sustained” before winding back its $85bn-per-month bond-buying program.

Most investors had expected the Fed to announce a modest taper today, but the institution’s policy-making Federal Open Market Committee put the kibosh on that speculation in a 2 p.m. EST statement. Despite signs of ongoing economic recovery, the committee wrote, the bond-buying stimulus will stay in place for now.

“Taking into account the extent of federal fiscal retrenchment, the Committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program a year ago as consistent with growing underlying strength in the broader economy,” the committee wrote. “However, the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

In a press conference at 2:30 p.m. EST, however, Fed Chairman Ben Bernanke said the Fed reserved the right to modify the amount of its bond purchases from month to month.

“Asset purchases are not on a preset course,” Bernanke said. “They’re conditional upon the data. They’ve always been conditional upon the data. … There is no fixed schedule, I really have to emphasize that. If the data confirm our basic outlook … then we could begin (to taper) later this year. But even if we do that, the subsequent steps will be dependent on the progress in our economy.”

Today’s decision is good for the mortgage industry, said Bryan McNee, vice president and senior bond analyst for

“The benchmark Fannie Mae 4.0 October coupon — which is what the pricing is based on — at three minutes before the Fed meeting, it was trading at 5 basis points better than the prior day. Right now it’s trading at 106 basis points better,” McNee said shortly after the Fed released its statement. “We got over 80 basis points pop on the news, and we’ll have to see how far it comes down.”

McNee said that mortgage originators could expect to see interest rates drop, but counseled against excessive jubilation.

“It’s a mixed bag, and this is why what they say is more important than what they do,” he said. “They’ve said they’re not going to taper right now, but that the amount of their monthly bond purchases is not preset going forward. What they’re effectively letting the market know is that they can adjust the amount of their monthly bond purchases without having a Fed meeting going forward. … If the economic conditions are there, they have the ability to change their monthly bond purchases at any time. You could have a taper next month. You don’t have a Fed meeting next month, but we could have a taper next month.

“Keep in mind, even if (the Fannie Mae 4.0 coupon) makes it to 100 basis points, the market has gone down, since the end of April, 400 at this point,” he added. “It’s not like it’s going back to where it was in April just because of this. This wasn’t enough for that.”

Adrian Webb MLO-811655; NMLS# 811655
CobaltMortgage | Mortgage Banker
Cobalt Mortgage Inc.
11255 Kirkland Way, Suite 100
Kirkland, WA 98033
Office: 425-605-3039
Toll Free: (800) 268-2207
Fax: (855) 800-6425 |

Just Sold in Issaquah Highlands!

iss front

Just sold at $32,200 Over List price!

Sold at $547,000 by  Erin Harold

This Issaquah Highlands home is perfectly located on a quiet St, close enough to all the wonderful amenities of the Issaquah Highlands to walk, but remains extremely quiet. With easy assess to I-90, it boasts a private elevated front porch, a large entry,  a beautiful formal dining room, a large entertaining kitchen, a bright, open living room, and French doors to the patio. An extremely private back yard finishes off this amazing first floor.  All of the very large bedrooms are on the upper level, with a large master bath, with a fantastic jetted tub, and second full bath.

This house was listed, and within 7 days we were able to produce several competitive offers. It closed smoothly on the original closing date, with no complications, selling for $32,200 over asking price!

That is one smooth deal!

I successfully negotiated all required improvements necessary be completed by the seller, at no additional cost to their buyers, and it was purchased at asking price. It then proceeded to close without a hitch, and even closed early!

At Sotheby’s International Realty,  we are know for providing excellence in every possible way. Our team of exceptionally trained and seasoned agents, use their negotiating and research savvy to deliver the best possible results to all of our clients, every time.

Globally, Sotheby’s International Realty is known for quality, distinction, and unparallelled quality in all things. That is what you will experience, when you work with us. Without question, the best service, and the most successful results, every time.

List your property with us and you will see why millions of people trust Sotheby’s International Realty over any other company to care for their most valuable property.


What does the market look like right now?

Here is some great info on the current market from my associate David Skow. He is a wealth of information. I love to share this kind of info with our clients, thanks Dave!

INFO THAT HITS US WHERE WE LIVE… The standard response from the pundits to last week’s 1.3% drop in Pending Home Sales for July could make it hard to maintain a positive approach. The typical explanation was that the drop was all due to the recent uptick in mortgage rates. But the truth is, slightly higher mortgage rates are only causing a drop in refinances. That’s because for buyers, mortgage rates are still historically       low and home prices remain attractive. Supporting this, the Mortgage Bankers Association Purchase Loan Index was up 2% for the week ending August 23 and is up 6% on an annual basis.

Here’s some more positive news ignored by the pundits. Even with the small monthly drop, Pending Home Sales were up 6.7% in July from the year before. In fact, they’ve now beaten year-ago levels for 27 months in a row. Those eager to report the end of the housing recovery were also disappointed to see the latest S&P/Case-Shiller Home Price Index. Home prices in 20 major metros were up 2.2% in June and are up 12.1% year-over-year. And this time around, all 20 cities posted both monthly and annual gains.

Definition of the day:

A pundit (sometimes called Talking Head) is someone who offers to mass media his or her opinion or commentary on a particular subject area.

DID YOU KNOW?… A recent report showed that if there were no housing bubble and home prices simply rose at the historic average of about 3.6% a year, they’d be almost right where they are today.

Thanks again for the info Dave!!!

Dave Skow Loan Officer 2200 6th Ave Seattle WA 98121 cell (206)714-9745 Eagle Home Mortgage


List your Property, Real Estate Market Data


fall painting

Autumn presents the colors worthy of a masterpiece

The colors of autumn create a warm, inviting backdrop that blends cool evenings with great food and libation shared at home among family and friends. If you are in the market for a new residence for those harmonious evenings, allow us to assist. We take great pride in artfully uniting extraordinary homes with extraordinary lives.

If you are looking to sell your property, the fall is a great time to list your home. The fall offers far less competition for sellers, and the buyers that are looking tend to be more serious and urgently searching than many of those who are just starting out searches in the spring.

Let us show you the unique experience that Sotheby’s is known for. Elegance, attention to detail, exquisite marketing and exceptional results. No matter what the property, every client receives the same level of service. We will make sure this Fall is your favorite season!


Some great Articles on the current Real Estate Market

Below you will find some fantastic links to some great Real Estate Market Information!

Stay informed and make the most of your property!

Let me know how I can help!


Million Dollar Home Sales Jump in U.S. as Wealthy Return

Home sales from Los Angeles to Charleston, South Carolina that are priced at more than $1 million are gaining at triple the pace of the broader market, according to real estate research firm DataQuick Inc


Seller’s market: home sales and prices rise; supply falls

Home sales percolated higher in July, with pending sales, closed sales and prices all substantially higher than the same month in the previous year in most counties of Washington state


King County median home price up 15 percent over year ago

A bump in interest rates in July didn’t derail the strongest home-buying stretch in the Seattle area since 2007, as the median price climbed year-over-year for the 16th consecutive month


Forecasters say home values will jump 6.7 percent this year

More than 100 economists, real estate experts, and investment and market strategists predict home values will rise an average 6.7 percent year over year in 2013, according to Zillow’s latest home price expectations survey – See more at:


Highlights of Zillow’s Interview with President Obama

President Obama answers housing questions from Americans around the country in an interview with Zillow CEO Spencer Rascoff.


NAR: Obama’s Zillow-moderated housing chat ‘not a serious discussion’

The selection of Zillow CEO Spencer Rascoff as the moderator of President Barack Obama’s chat with America about housing today seems to have the National Association of Realtors scrambling to explain how Zillow, and not NAR, got the call from the White House


Obama Looks to End Fannie Mae, Freddie Mac

President Barack Obama on Tuesday officially launched his campaign to transfer most of the risk currently undertaken by Fannie Mae and Freddie Mac to the private sector, saying during a speech in Arizona that the U.S. government should phase out the mortgage finance giants as part of an effort to prevent another taxpayer-funded bailout


Fannie Mae Makes It Rain for Obama

Fannie Mae (FNMA) said this morning that its second-quarter profit nearly doubled, to $10.1 billion, as home prices surged and more consumers made good on their mortgage payments



Oregon home prices keep going up and up and up

Oregon ranked No. 6 in the nation for rising home prices in June


Hip, Urban, Middle-Aged

Baby boomers are moving into trendy urban neighborhoods, but young residents aren’t always thrilled


Should Home Sellers Overprice or Underprice Real-Estate Listings?

“The Price Is Right” isn’t just a game show. It is a mental strategy real-estate agents use to get the most money when listing a home.


When Condo Developers Suggest Preferred Lenders

Some condo developers and owners are playing favorites, asking potential buyers to use a “preferred” lender when buying a home


Eminent Domain Abuse

Robert Hockett of Cornell University Law on the Kudkow Report


Freddie Mac may sue over eminent domain seizures

Freddie Mac on Wednesday said it is considering legal action against Richmond, Calif, if the city uses eminent domain to seize mortgages of local residents


Frank Sinatra’s party pad

Back in his heyday, ‘Ol’ Blue Eyes’ leased this mid-century modern estate perched high above Los Angeles


California city’s drastic foreclosure remedy: Seizure

The California city of Richmond said Tuesday that it’s ready to take an extraordinary step in its bid to stop foreclosures — threatening to wrest mortgages from the investors who now control them


Million-dollar ranches for sale

Located on hundreds of acres in some of the most scenic parts of the U.S., these ranches are selling for millions of dollars


Oh, yeaaahh: Iconic house from ‘Ferris Bueller’s Day Off’ for sale

Remember this house? Cameron Frye, Ferris Bueller’s best friend in the cult classic Ferris Bueller’s Day Off, kicks a car through those windows. The listing is held by Meladee Hughes of Coldwell Banker Residential Brokerage


Mortgage rate spike finally hits housing

A sharp jump in mortgage rates from May to June are now beginning to weigh on the housing recovery


Million-dollar ranches for sale

Located on hundreds of acres in some of the most scenic parts of the U.S., these ranches are selling for millions of dollars


Banks face more housing headaches

CNBC’s Jackie DeAngelis has the latest details on federal regulations taking aim at JPMorgan and PNC over mortgage related issues


Bathtubs That Make a Splash

A new wave of bath designs, from the high-tech to the artistic


Home prices post highest annual gain in 7.5 years Aug 8, 2013

U.S. median home prices posted their highest annual gain in 7 1/2 years in the second quarter of 2013 –


Home prices trending at fastest upward pace since 1977

U.S. home prices rose for the 16th consecutive month in June and are trending at the fastest upward pace since 1977 –


Here’s Where President Obama Is Going on Vacation

Julianna Goldman reports on President Obama’s $7.6 million Martha’s Vineyard vacation home. She speaks on Bloomberg Television’s “In The Loop.” (Source: Bloomberg


Summer Rentals for Procrastinators

$295,000 for August including Labor Day, or $150,000 for two weeks in August

Southampton, N.Y.

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


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

A Great View of the Real Estate Market Monthly from 2000 to Current

A snapshot of how busy the real estate market is in the Puget Sound area. It is time to get that house listed, and it is a great time to buy!

4-County Puget Sound Region Pending Sales (SFH + Condo combined) (Totals include King, Snohomish, Pierce & Kitsap counties)













































































































































































7015 7295 6733 6489 6341 5871 6453 5188 4181
2013 5548 6095 7400 7462