Mortgage Modification – Are you eligible?

The government has created a website to help homeowners determine if they are eligible for loan modifications under the “Making Home Affordable” program. You will find it at http://www.makinghomeaffordable.gov/.

Kent and Auburn Real Estate Statistics

Auburn and Kent Real Estate

Residential statstics for Auburn and Kent in October show the following:

Active Listings – 1008 in 2008      1234 in 2007

Pending Sales – 160 in 2008      203 in 2007

Sales Closed – 133 in 2008      154 in 2007

Houses and condominiums are selling and being purchased in our market, just not to the same extent as the past few years.

Prices are down about 18% over the past two years due to the influence of forclosures and short sales. Short sales happen when the price that a home sells for is less than the amount owed and the lender absorbs the difference.

The existence of properties that are for sale that are eligible for a short sale provide an opportunity for buyers to purchase at unusual bargain prices. This condition is temporary and can change rapidly as we see in the Southwest states as sales are in an uptrend with the bargains disappearing.

For additional information, email me at duncanclark@remax.net.

Empty Nester

My son, Andrew and his wife, Monica moved into the house they purchased last month in West Seattle. While they did not live with us, they somehow seem more removed now that they have their own home. When we visit, it will often be at their place as they are busy with many projects to improve the 60-year-old home. We enjoy visiting and seeing the progress they are making. Our home now seems more spacious and empty than it was only a few years ago and we have more time on our hands. I guess it’s time for us to start our projects.

iPhone

I have invested in the keen new handheld computer called the iPhone. There are hundreds of applications available and in the design stage for it and I am using several. One is a free mortgage calculator that figures the payments for financing homes or other purchases. Another uses the GPS system built into the phone to give you yardages on a golf course to the greens. Unfortunately, it won’t help your swing.

Has anyone else using the phone discovered cool applications you would reccomend?

Trying Harder

I’ve been remiss in my attention to this blog and hope to remedy that by adding content several time a week. Hopefully, a community of readers will follow and add their input to the conversation.

Duncan

Free Books

When I began using my Palm Treo phone, I noticed that one of it’s features is the ability to download a book that can be read on the screen. I didn’t pay much attention to it as the idea of reading on the small screen didn’t seem appealing and, if I’m going to purchase a book, I want full-size. Then I found a website that offers free books that can be downloaded onto any of the Palm PDAs as well as your home computer and that site is gutenberg.org. If you enjoy reading, check it out. After all, who wants to house the six volumes of History of the Decline and Fall of the Roman Empire at home anymore.

Hiking Essentials

When we hear about lost hikers in the winter, we fear the worst and are happy when they are found safe and sound. But, if they were better prepared, would it take such an effort and some luck to find them in time? Perhaps it’s time to review what should be carried by each person when setting out on a day hike. Here’s what the Mountaineers recommend:

1) Map and compass or GPS

2) Sun protection

3) Warm clothing

4) Flashlight

5) First aid kit

6) Fire starter

7) Tools

8) Food

9) Water

10) Emergency shelter

These items can be maintained in a day pack that is replentished when returning from every outing so that nothing is forgotten next time out. Fortunately, we don’t get lost often and if it happens, we’ll be glad for preplanning.

Your Name is Being SOLD!

Here’s breaking news you need to know…and you need to let all your family and friends know right away as well.

Having credit checked is an important and necessary step in the home buying process, as well as something that is done on a regular basis for any number of reasons — increasing a credit line on your Visa, applying for insurance, or buying a car. But very few people realize that each time their credit is checked, the “inquiry data” that the credit bureaus have on file has now become a commodity. This information is being sold by the credit bureaus to other lenders…and also to companies that sell and resell the same names and personal information.

That’s right — the credit bureaus have found a way to increase their revenues at your expense…and without your permission. These “inquiry leads” include name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, age, gender and estimated income. They are selling your personal, confidential information to competing creditors…and making millions. Your privacy is being sold, not just once, but over and over again.

And lenders that purchase these leads at a premium will then do everything they can to recoup their investment and turn a hefty profit. Super sneaky bait and switch tactics are being used to lure clients away from their reputable lender. Clients have even been called by disreputable lenders and told that the lender they had been speaking to previously “passed on” the information to them, because they knew that they’d be able to offer much better interest rates and terms. Ouch!

The good news is that you can make it stop, right away. And pass this information on to everyone you know — your friends, family members, neighbors and coworkers.

The consumer credit reporting industry has provided a way to “opt out” and remove your name from these lists. You can contact them by phone at 1-888-567-8688 or online at www.optoutprescreen.com. You must opt out at least 48 hours prior to having your credit checked to make sure it is processed in time. You can choose a five year or lifetime option, and the lifetime option does require a signed form. If a credit report needs to be run prior to the 48 hour waiting period — at least you are aware and informed, and can be on the lookout for suspicious phone calls or mailers from someone who has purchased your data.

BONUS: Opting out will also protect you from “pre-approved credit offers” arriving via mail…one of the leading causes of identity theft in the US.

You certainly have the right to shop for the best professional to meet your lending needs — but this should be done when and how YOU choose, not being done without your consent or permission. Looking around should be on your terms, not being done as a sneak attack, because they think you won’t know better. And unfortunately, these unsolicited marketing tactics are a nuisance and intrusive, but quite legal.

So take your privacy back. Take five minutes right now — opt out, and pass it on. Refuse to be a part of this system.

This information was provided by Rick Dahl of CTX Mortgage in Federal Way.

Vacation Travel

Are you planning a trip outside the US next year? After January 8, 2007, you will need a passport if you are travelling by air. Since the process of obtaining a passport takes several weeks, it might be a good idea to begin the process soon. If you are getting a passport for the first time, you must apply in person. Here’s a link for more information, http://travel.state.gov/passport/get/first/first_832.html.

Reinvented Politician

I happened to see part of an interview with Governor Arnold Schwarzennegger on CNBC the other day when he was asked whether he would invite President Bush to campaign with him. He answered that the voters in California have risen above blindly following party lines and are now focused on issues. This has enabled the governor to promote an agenda that focuses on programs that he feels will benefit the citizens of the state regardless of their affiliations. We now find him promoting an aggressive agenda to improve the environment in California, especially air quality. Huh, I thought he was a Republican! Both he and Joe Lieberman may be the beginning of a trend where politicians can take stands for what they believe to be in the best interest of their constituents rather than a party line that may differ. I say more power to them.

For more… http://archives.seattletimes.nwsource.com/cgi-bin/texis.cgi/web/vortex/display?slug=broder28&date=20060928