With interest rates at historic lows, many homeowners are considering refinancing.  One question that seems to come up often is, should I pay closing costs or not?  Here is a list of options to consider when looking at refinancing.  Each option has it's benefits, so there's no one size fits all answer. Interest Rate  Points/Origination Fee4.25%           .875%4.50%           -.875%  *4.875%         (-1.50%)** indicates a payment to your lender or broker - known as a "premium" 1. No Closing Cost Refinance - 4.875% with a 1.50% Premium Paid To Your Lender or Broker: Like the title says, it means you do not pay closing costs. The next question is who is paying them?  Indirectly you are.  By taking an interest rate higher than the market rate, the lender or broker can use the "Premium" in t... 12/22/2008

It's been a couple weeks since we reviewed the Downtown Tacoma Condos that have sold, so here you are. There were 9 condos that closed, 6 of those I already wrote about earlier this week located at The Esplanade.  CitySteps continued the great townhouse blowout with 2 sold this week, both for $219,990. They were units #105 & 106 2 bedroom, 2 bathrooms, with 1113 square feet. One was originally listed at $259,990. The final condo was over with Survon at Marcato, unit #319. A 2 bedroom, 2 bathroom, 1040 square foot that was originally listed at $369,000. It sold for $309,000. For information on Marcato check out another of last weeks posts here.   I believe it is worth mentioning that right now there are 225 condos listed for sale in 98402, 98405, & 98403.There are 24 that are pending sal... 12/19/2008

http://www.zerofeehomeloans.com - Lowest mortgage rates in 4 years! Lower your rate without paying any closing costs. Even if you only save .50% off your current rate, you are saving money. No up front costs! Visit us online today. Locally based in Tacoma, we work with all the top mortgage companies.   12/18/2008

Tacoma, WA - Mortgage Rates Interest rates for home loans under $506,000 in Pierce, King and Snohomish counties continued their trend under 5.00% for the second straight week.  We are starting to see a lot of refinance activity, especially those with equity and good credit scores.  What some people don't realize is that there are several factors that determine the final interest rate they will pay on a mortgage.  Gone are the days you can call and just ask "What's Your Rate?"  Here is a brief list of all the factors that can increase or decrease the interest rate you will pay on a mortgage or home loan: 1. Credit Score -Your most important score is the middle score.  For example if you have a high score of 759, a mid score of 739, and a low score of 702, the 739 becomes your "decision s... 12/15/2008

Between the Christmastime Parties and all the Shopping, 27 people found time to close on houses and condos this week in Tacoma!  Here is the breakdown: 22 Houses sold. 5 Condos sold. All 5 condos were located at The Esplanade. The average days on market for the houses that sold were 130 days.  Those sellers accepted offers at an average of 97% of the list price. The average price per square foot of sold homes across the whole city was $130/square foot.   The problem here is that there are currently 2,199 houses and condos actively for sale in Tacoma.  That number is probably a little low, as I know many of the new construction houses and condos are not on the MLS as builders will just put up a few to represent the whole building/neighborhood.   There are 315 pending sales, which puts us... 12/15/2008

I'm of the opinion that Tacoma is a City that feels like a small town.  That doesn't mean it's always easy to stay on top of everything that's going on. It helps that Tacoma has so many great blogs.  Here are some of my favorites: www.Exit133.com  It's all about what's going on in Tacoma.  It's a great place to find info about upcoming events, new restaurants and businesses opening up, and of course local politics.   www.FeedTacoma.com  This website is "fed" by people from all over Tacoma. It has all different kinds of information and opinions, and can be a great source of interesting information.   www.TacomaUntapped.com  Written by local Real Estata Agent Jacob Rose, this blog is a  mix of breaking business and real estate news and interesting information about zoning, development, an... 12/14/2008

One of my favorite parts of being a Realtor is Previewing.  Previewing is just visiting homes and condos for sale keeping an eye out for bargains for your buyer clients, and building your knowledge of your market.   I took a trip to Marcato at 1501 Tacoma Avenue.  I had been there before, but I realised it had been about a year and a half and it was time to check them out again.  I'm glad I did! Marcato has had some big price reductions.  There's a lot of condos to compete with downtown, and while Marcato is central within downtown- there is not much in the immediate area around 15th & Tacoma yet- so living at Marcato makes you a bit of a Pioneer.  The Realtor on duty is Survon Narcisse from John L. Scott, and he was very friendly and helpful.  One of the things that I remembered most ... 12/13/2008

Good news for home buyers or borrowers looking to take advantage of today's low interest rates.  This puts mortgage rates at historic lows.  Here's a sample of a recent rate quote from All Tech Mortgage this morning:  12/10/2008 Refinance:  Paying off the existing first mortgage Value of home: 350,000 Loan Amount: 280,000 Current Rate 6.25% Loan Type:  Conventional Fico Score: 746 Rate Quoted:  4.875% 30 day lock (4.984% apr) Loan Fee:  1% + 3rd party closing costs or 5.25% with 0 loan fee with 3rd party costsMonthly Payment Savings: $212.00 Rates fluctuate daily so if you are considering refinancing or buying a new home -- The time to lock in and Save is Now! For high loan balances up to 75% LTV with credit scores + 740, Paying off the existing first mortgage only, the above scanerio w... 12/10/2008

With the right combination of factors, low loan to value, high credit score(above 740), borrowers are able to get the new conforming plus loan limits of $506,000 in Pierce, King & Snohomish counties at conforming interest rates.  Here's a quote from today 12-9-2008. Sales Price or Appraised Value:   $700,000 Loan Amount:  $506,000 Credit Score:  740 Current Rate:  5.125% (5.226 apr) with a 1% loan fee, plus other third party costs, ie. title, escrow, appraisal, etc. That's the same rate/fee structure for conforming loans as well.   12/09/2008

              Why is it so  important to not trust your moving needs to just anybody....As a home owner or even a renter, you have spent many years acquiring many pieces of furniture, artwork, dishes, etc... Why trust it to the lowest bid.  Just like any SERVICE you buy, you get what you pay for.  Think about it, You get three estimates on a move, and all three estimates are different.  How do you decide?  Ask lots of questions.  What are you getting for the rate that was quoted to you.  Is the lowest bid going to provide the proper equipment or even personal to do the job correctly and with a specified time frame.  Is the lowest bid lower because they are not paying into insurance for their employees and bonds in case of accident or injury.  Why is it lower.  Ask Questions!!Why is the ... 12/09/2008

This Bank Foreclosure sold for $55,000 For me and almost everyone I know, this was the week of the cold. Myself, my friends, my clients, we all coughed and blew our noses through this week.  Fortunately, that didn't stop work from getting done.  My clients wrote offers on 2 houses this week, and it looks like the rest of Tacoma found time to do some business as well.    24 Houses and 5 Condos sold this week! They ranged in price from $55,000 for this bank owned tear-down to $519,125 for a 5 bedroom 3 bath 3,711 square foot house with a view of the Narrows Bridge.   The houses averaged 159 days on the market.  The condos averaged 96 days on the market.  Both houses and condos sold for 94% of their currently listed price.  The median sold price on houses was $207,000 and $222,000 for con... 12/08/2008

We are new to Activerain.  Not sure if this is the right place for us, but we figure that REALTORS could always benefit from a relationship with a quality mover to refer or ask questions of.It is our promise to assist you in helping your clients.  With tight closing dates as buyers move in and sellers trying to move out, stress can become great.  Coordinating moves and helping home owners reduce the time it takes to move their valuable belongings is what we do best.  The value in the move far out weighs the cost.  Even if you just want us to move a few large items or do a full pack and move we are qualified to provide a elite service to your clients.Call on us at any time.  We are a licensed and bonded Moving Company in Lakewood, WA adhering to the guidelines of the Washington State Ut... 12/05/2008

  I was hoping to do a great post today about all the condos that have sold downtown since my last post on the topic on 11/16.  Unfortunately, there is not much to report, even after expanding into the Stadium District for material! Only 2 condos have sold downtown since 11/16, one yesterday, and one today.    This first one, at Bella View Townhomes on 21st & Yakima is an exciting one.  It is the last of that little neighborhood to sell.  I have a couple of (Fabulous!) clients that bought at Bella View and they say they are meeting for their first Homeowners Association meeting next week!  Congrats Bella View! You are all done being sold!  A Ladder Leads to this great Loft!   The last Townhome to sell in Bella View was 2 Bedrooms 2 bathrooms and 1,550 square feet.  All the Bella View T... 12/03/2008

Benefiting from the Federal Reserves program to purchase mortgage backed securities, mortgage applications surged last week.  "The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended November 28 soared a record 112.1 percent to 857.7, the highest reading since the week ended March 21 when it reached 965.9." It's great to see home buyers starting to come off the sidelines and inquire about mortgage rates for purchasing and refinancing.   "Interest rates are at their lowest level since the week ended June 24, 2005, when they reached the same level. Interest rates are sharply below the peak of 6.59 percent reached during the summer, but only slightly below the 2008 low of 5.49 percen... 12/03/2008

OK, So I have a confession to make...I am a closet reality show watcher. Not ALL the time, but it is a true guilty pleasure.  So...I am watching the season premiere of Desperate Housewives on Bravo tonight and I was surprised that it contained a whole section about the Realtor housewife working short sales.  They even filmed her doing a client consult...at a 2.3 million home.  Still, no matter the price range or the location, I would have to agree with the desperate housewife Realtor that short sales ARE sad...but better than foreclosure.  It is my goal to assist families in avoiding foreclosure.  Who do YOU know that may be overwhelmed with their housing commitment right now?  Please encourage them to get in touch with me for a confidential consultation about their options.  Only 1 out... 12/02/2008

I hope everyone had a fantastic Thanksgiving.  I divided my time between family togetherness and recovering from family togetherness at friends houses.  While most of the city was off spending quality time with their families over turkey, 22 Tacomans bought houses!          Those houses ranged in price from $124,000 to $507,000. They sold for about 4% less than the price they were listed at and spent an average of 127 days on the market before selling.  Also, they were all houses, no condos closed this week.    The last week of the month is usually the busiest as far as home closings go, and I heard through the grapevine that there were a lot of agents and lenders scrambling to get their clients homes closed before the Thanksgiving Holiday.  Whew!  For more Downtown Tacoma Real Estate I... 12/01/2008

There's no point in trying to hide it, I love Christmastime, especially in the City.  I will be enjoying the kick off of the Holiday Season at the Pantages Theater tomorrow night at 5pm as the Broadway Center for the Performing Arts lights up Tacoma's tree.  Afterwards, head into the theater to watch Scrooge starring Albert Finney.     .Oh Tannenbaum!   For More Downtown Tacoma Real Estate Information visit www.GetRealTacoma.com 11/29/2008

By Erik Hanberg When I moved back to Tacoma in 2002 after four years away, I was blown away by the changes downtown. I loved that it was starting to feel like a real city. When I landed a job downtown, I decided I would take the plunge and move downtown as well. I chose the Bostwick building-the yellow wedge building at 9th and Broadway.         It was a small apartment on the 2nd floor, but I felt like I was living a luxurious life. I could see the lights of the Pantages out my window. I had antique hardwood floors, huge bay windows, and 12 foot high ceilings.  My desire to own eventually kicked in. But where was I going to find a house or a condo that had the same things I liked about my apartment but was still within walking distance of my downtown job.  I looked at many places downt... 11/25/2008

That's right 30 year fixed rate loans at 5.25% 5.329 apr with the Government's plan to purchase mortgage backed securities announced this morning November 25th, 2008.  With the exception of the Government's purchase of Fannie Mae & Freddie Mac, when rates dropped for 1 day, today's move has the potential to drive rates down and keep them there.  In my opinion, lower interest rates will have the biggest impact on helping stabilize real estate values.  In addition, homeowners can free up hundreds of dollars by refinancing into a lower fixed rate mortgage.  For today's rates visit our web site at http://www.alltechmortgage.com   11/25/2008

North Tacoma has some of the most beautiful tree lined streets in our region.  Shot these pics of North Union very quickly while setting out my open house signs a while back.  Was holding an open on 21st and Union and enjoyed the scenery and my visitors very much. People actually walk around their neighborhoods in the North End of Tacoma, something of a rarity in other parts of the region.  No need to drive somewhere to walk if you live North of 6Th Ave, just stroll out your door and enjoy the beauty that is all around you.  Wish I had taken more time to shoot higher quality pics, because these trees are now bare for the winter.  Natures beauty is often fleeting, which is why I love it.   11/24/2008