Archive for October, 2008

Fed Cuts Rates Again!

It’s happened again, the Federal Reserve has cut the key interest rate by ½ a point. So what does this mean for you and for our economy? Let’s break down there decision in this weeks article.

First here are the facts; the central bank on Wednesday (as expected) reduced its target for the federal funds rate (the interest banks charge on overnight loans) to 1 percent, the lowest since 2003-2004. Keep in mind that the funds rate has not been lower since 1958, when Dwight Eisenhower was president.

The Federal Reserve said in a statement on Wednesday that it had room to lower rates because the spreading economic weakness was lowering the risks that inflation would get out of control.

So what does this mean…Well, it’s tough to say how this decision will affect the economy and stock markets. Shortly after the announcement was made the stock market saw gains in some areas and loses in others. Clearly it is struggling to settle on a direction.

For you this may mean lower interest rates in the future. In the past, cuts to key interest rates have helped reduce mortgage rates that are offered by the banks. We will have to wait and see how this will play out, but be prepared to get more announcements from me in the future on this.

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Important Tax Info!

It’s semiannual property-tax time again. If you pay your own taxes, you have until midnight Oct. 31 to get your payment postmarked and avoid delinquency charges.

Extensions are not given. If you’ve misplaced your tax statement, call your county treasury office to find out what you owe.

In King County call 206-296-3850. For an automated line call 206-296-0923.

In Pierce County call 253-798-6111. For an automated line call 253-798-3333.

In Snohomish County call 425-388-3366.

In Kitsap County call 360-337-7135.

Also, property-tax statements and information may be available online. The above phone numbers will lead to information on how to access those counties’ sites.

Source: Copyright © 2008 The Seattle Times Company Saturday, October 25, 2008

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Maui 2008 Pics!

Here are some pictures we took in Maui…enjoy!In Lahaina right before Warren and Annabelle’s (a comedy and magic show…a must see in Maui!)

Waterfall on the Road to Hana…

The island of Maui behind us.
Sunrise at Haleakala Crater.
You can see the Road to Hana on the hills behind us.
An amazing sunset from the beach.

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Best Time to Buy?

So when do you buy stocks? Simple question right…best answer, when there at the lowest point and just before they go up. That’s how you make money in the stock market. Well, how do you get a good deal on a home? Answer: Buy when the markets are down, but signs point to an upward rise.

Before I go into this, I want to shed some light on what makes a home go up in value. Sure land value goes up but the desire for homes is the true appreciation. What do I mean? Well the more buyers that are on the market buying homes the more you can list your home for and the greater price you can get, which in turn fuels the market and creates appreciation.

So now that you understand that, I want to point out an article that just hit the Seattle Times yesterday. The title was “King County home prices slide again, but more people are buying”. What does that tell you…well it tells me that we may have hit the bottom. Pending sales means one clear thing…more buyers! This is great news for the market.

In September, sellers accepted buyers’ offers on 1,767 houses, up nearly 15 percent from September 2007.
October 7, 2008 By Eric Pryne, Seattle Times business reporter

All the real estate agents I have worked with say that it is getting harder and harder to get sellers to negotiate on purchase prices because of multiple offers on homes. As soon as the market begins to swing with more buyers…watch out. It is going to get competitive out there. So strike now while the irons hot. Find out what your financing options look like and get into a home now at the low point in the market!

For those of you who are in a home currently, don’t just throw this e-newsletter in the junk…pass it along to someone you know that needs to see this. Anyone you know who is renting a home needs to see this.

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