Interest Rates & Market Update

Despite what you may have been hearing, mortgages are widely available, with some basic rule changes: "back to the basics".

Lenders require more documentation of your income and expenses than you might have found in recent years, but you should have everything you need right in your household files. Interest rates are historically low, and soon there may even be a program for those who wish to refinance to a lower rate, but don’t have much or any equity.

If you need a referral to an excellent lender, let me know - you know I work with the best!

How is our market doing? Despite what you are hearing, well priced properties in good condition are selling well, often in less than a month. Overpriced properties? Not selling well at all! Prices are adjusting, but probably not as badly as what you've been reading or perhaps thinking.

Give me a call anytime, or send me an email, and let’s talk. I always enjoy hearing from you.

I'm Here to Help

March 2009

It would be nice to have a little good economic news, wouldn’t it? I received a letter today from Charles Schwab & Co. that said in part, “As we enter March, poor economic news is resulting in continued market turmoil. While the most natural instinct is to react emotionally, I would ask that you step back and take full advantage of Schwab’s numerous resources to help you through these difficult times.” Just as they can help you make important financial decisions regarding your investments, I can help you with your real estate questions.

Of course we all know the beating the stock market has taken these past few weeks and months. The housing market has also had its’ share of disappointing news; although here in Washington, we’re not seeing such dismal numbers as other parts of the country. First and foremost, please remember that I’m always available to you, or to help someone you know who isn’t sure what to do regarding a home they own, or a mortgage they are concerned about. Today we now have a program for millions of homeowners who owe more than their property is worth to be able to refinance to a lower interest rate. There is also a new tax credit for first time purchasers, up to $8000. This tax credit also works if you haven't owned a home for at least 3 years.

I stay current with all the latest developments so please don’t hesitate to call or email me.

I think you already know that you can call or email me anytime. I’m glad to not only hear from you, but to help answer any questions you may have. If you’d like me to come review your property, let’s schedule a personal consultation for more specific advice about your situation. It’s easy to arrange and part of the long-term service you receive as a client.

Your trust in me is appreciated.

Leanne Finlay
Associate Broker, Windermere Real Estate/East, Inc.