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March 29, 2005
Preparing for Dry Weather
This year’s extremely low rainfall and minimal snow pack levels have led to impending predictions of a drought this summer. While water conservation should be considered no matter what the weather, it’s important to be even more conscientious now. Here are some practical tips to consider so you can start conserving today:
Check for leaks—One leaky faucet can waste more water in one day than the average person consumes in a week. To determine if your toilet is leaking, squeeze a few drops of food coloring into the toilet’s tank; wait fifteen minutes before flushing. If the color reaches the bowl, you have a leak.
Install water-saving devices—Low-flow devices can help reduce water flow by 50 percent. Showerheads that use 2.5 gallons or less per minute and toilets that use 1.6 gallons or less per flush are recommended.
Alter your habits—Consider taking shorter showers, turning off the water while shaving and brushing your teeth, and only washing full loads of dishes and laundry.
Watering the lawn—Avoid watering between 9 a.m. and 6 p.m. Water in short cycles, with an hour in between cycles; this allows the water to soak into the soil and reduces runoff. Sprinklers that water evenly and produce large droplets provide the best results.
Washing your automobiles—Commercial washes are your best bet in drought conditions because they recycle and treat the water they use.
By taking simple measures to conserve water now, you can help reduce the chance of more extreme measures this summer. To learn more about water conservation in your home, visit www.H2ouse.org.
Posted by beaubetts at 10:41 AM
March 25, 2005
March 25th Mortgage Market Update
The markets closed early today to begin the long Easter week-end. For the week, the yield of the 10 year TB rose by 10 basis points with Tuesday's high of 4.63%, which is the second highest reading since July of 2004. Remember that when the yield is up, so are interest rates. Tuesday's loss was sparked by the Fed's statement which put a greater emphasis on inflation and this was interpreted as a step toward larger interest rate hikes and / or a longer succession of increases. Today the 10 year bond closed at 4.6%. My suggestions is to lock those rates in!!
Now for today's average interest rate on a purchase transaction:
CONVENTIONAL CONFORMING
30 year fixed rate: 5.875%
30 year Interest only fixed rate: 6.0%
15 year fixed rate: 5.625%
7/1 ARM: 5.625%
5/1 ARM: 5.375%
3/1 ARM: 5.125%
100% LTV 30 year fixed rate: 6.25%
CONVENTIONAL JUMBO
30 year fixed rate: 6%
10/1 ARM: 5.75%
7/1 ARM: N/A
5/1 ARM: 5.625%
5/1 Interest only ARM: 5.625%
3/1 ARM: 4.875%
FHA/VA PRODUCTS
30 year fixed rate: 6.0%
5/1 ARM: 5.5%
3/1 ARM: 5.375%
1 year FHA ARM: 3.875%
Please call with questions!
Posted by beaubetts at 2:01 PM
March 18, 2005
$1 million+ Properties
Interested in the finer side of life? Are you ready for million dollar views in Seattle? Here are just a few luxury properties that are currently available for you to peruse:
Beau Betts provides Seattle luxury real estate services. Contact Beau Betts in order to sell a Seattle luxury home or Seattle luxury condominium property for the best possible price....quickly and professionally.
Posted by beaubetts at 9:00 AM
March 11, 2005
March 11th Mortgage Market Update
Here are today's today's average interest rates for a purchase transaction:
CONVENTIONAL CONFORMING
30 year fixed: 5.75%
15 year fixed: 5.375%
7/1 ARM: 5.5%
5/1 ARM: 5.25%
3/1 ARM: 5.0%
100% 30 year fixed: 6.125%
CONVENTIONAL JUMBO
30 year fixed rate:5.875%
10/1 ARM: 5.625%
7/1 ARM: 5.50%
5/1 ARM: 5.375%
3/1 ARM: 4.875%
FHA/VA PRODUCTS
30 year fixed: 5.875%
5/1 ARM: 5.25%
3/1 ARM: 5.125%
FHA 1 year ARM: 3.75%
Posted by beaubetts at 8:10 AM
March 10, 2005
Soaring Second-home market for 2004
The Seattle Times had a great article that was published on Sunday concerning the massive amount of investment properties that were purchased in 2004. Click here to see the article.
Posted by beaubetts at 12:31 PM
March 9, 2005
Rare 3 bedroom Seattle Condominium For Sale
This spacious and rare 3 bedroom / 2 bathroom / 1,390 sq ft. end unit condominium is located on the edge of the Jackson Park golf course. The formal entry opens to a living room that includes a wood-burning fireplace. Off the living room is a spacious deck. The kitchen provides plenty of cabinets and counter space and opens to a dining area. The master bedroom features a master bath. A fantastic location that includes two parking spaces and a quick commute to the center of Seattle.
SOLD for $218,500
Posted by beaubetts at 3:13 PM
March 4, 2005
March 4th Mortgage Market Update
What a strange market. The strong job growth this last month should be sending the Bond Market down, down, down, which increases mortgage interest rates, but the opposite is happening. Right now the Bond Market is up 15/32nds...Here are today's average interest rates for a purchase transaction:
CONVENTIONAL CONFORMING
30 year fixed rate: 5.625%
15 year fixed rate: 5.25%
7/1 ARM: 5.375%
5/1 ARM: 5.125%
3/1 ARM: 4.75%
Option ARM: 1.75%-3.45%
100% 30 year fixed rate: 6.0%
80/20's and Interest only products: So many that you'll need to call for pricing on your specific transaction
CONVENTIONAL JUMBOS
30 year fixed rate: 5.625%
10/1 ARM: 5.5%
7/1 ARM: 5.375%
5/1 ARM: 5.125%
3/1 ARM: 4.75%
Call for 80/20's and Interest only products
FHA/VA LOAN PROGRAMS
30 year fixed rate: 5.625%
5/1 ARM: 5.25%
3/1 ARM: 4.75%
FHA 1 year ARM: 3.75%
Please feel free to share this with co-workers, family and friends and of course call me with any questions!
Posted by beaubetts at 2:11 PM
