Exceptional Newer Olympia View Home For Sale $449,000

Virtual Tour: http://www.visualtour.com/show.asp?T=3141837

September/October 2013 Market Pulse: Interest rate hikes and rising home prices are taking a toll on sales

July saw a monthly dip in pending sales nationally, though the rate was above one-year-ago figures for the 27th straight month. Higher prices are affecting the availability of FHA financing in some areas. And some areas are seeing higher mortgage and flood insurance premiums. On the plus side, households are jumping into the market to buy before rates and prices rise further. All trend lines are from July 2012 to July 2013.

Existing-home sales is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences. Pending home sales is an index that measures -housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year. Price indicates the national median. Inventory measures the number of existing homes on the market at the end of the month. 

Buyer and seller traffic, current conditions, six-month expectations, and time on market derive from a monthly REALTOR® Confidence Index. Results for July are based on 3,342 responses to 6,000 surveys sent to large and small real estate offices. The survey asks practitioners to indicate whether conditions are strong (100 points), moderate (50), or weak (0). Some data may be revised from previous issues.  Information from the National Association of REALTORS September/October 2013

Harvest Festival This Saturday

Mark your calendar for a Farm Harvest Festival this Saturday, Oct. 12 from 10 a.m. to 3 p.m. Enjoy live music with the Oly Mountain Boys from 12 p.m. to 2 p.m., have your family's photo taken on an autumn themed set with a vintage tractor, savor hot cider and other treats from our bake sale, pick out the perfect pumpkins for this Halloween, and win something wonderful in our raffle! Kids can decorate their pumpkins at our arts and crafts table, play harvest themed games, pet the bunnies and chickens, feed the alpacas, and more.

This is a fundraising event, held on location at Nature Nurtures Farm, in Olympia, WA, that invites families to meet all of our animals, feed the goats, make new friends, and celebrate the season while supporting our program for at-risk youth.

Available at additional cost will be a photo set where visitors can have their kids' or family's picture taken. We'll be offering 4"x6" prints on site or a digital copy, great for holiday photo cards. (Cash or check only please for admission, concessions and raffle tickets.)

Admission is $10 per person, children four and under are free, parking is free. Dress to be outdoors and in a barn -- boots, coats, and umbrellas are recommended! More information is available on our website, http://www.naturenurturesfarm.org/Harvest_Festival_2013.html.

Clean & Cozy Rambler 406 N Nenant St, $119,000

Newer Rambler in Olympia School District For Sale: 2845 Alyssa Ct SE, Olympia $224,900

Interest Rate Update

National Averages 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.32% 3.37% 3.07% 2.63% Change (from prior week) -0.18% -0.17% - 0.04% - 0.02% Fees & Points 0.7 0.7 0.5 0.4 Margin N/A N/A 2.75 2.76  Regional Averages (West) 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.27% 3.31% 2.97% 2.50% Change (from prior week) - 0.19% -0.17% + 0.02% -----% Fees & Points 0.8 0.7 0.6 0.4 Margin N/A N/A 2.74 2.75

US Government Shut Down & How it Affects Your Purchase and Sales Agreement

As most of you are aware, the House and Senate did not come to an agreement before the clock struck midnight this morning - and now we are experiencing the first government shutdown in over 15 years.

Please see below how the government shutdown is affecting certain loan types and documentation availability:

All loans:

·         Tax transcripts and VOE's will still be required on all loans.  4506T's can be ordered, but there is no one at the IRS to process them.  Any delays caused by the shutdown that affect the ability to get these conditions met will have to wait until those conditions can be met.

·         SSN verifications can be ordered, but at this time it appears that the results are at the very least going to be delayed past the normal 10-15 minute turn times they usually run by.

USDA:

·         The offices will remain closed until the government shutdown is complete.  Submission of loan packages to RH is suspended since nobody will be there to accept them.  Any loans currently at RH for conditional commitments will be delayed until the shutdown ends.

·         All USDA websites, including GUS and lookup sites for property/income qualification, will be unavailable during the government shutdown.
  

FHA:

·         FHA Connection will be available, but since FHA Connection occasionally interfaces with other systems that may not be available, FHA Connection processes may not be fully functional.  Note the following below:

o   You will be able to obtain a new FHA case number from the FHA Connection.

o   CAIVRS will be available to determine if a borrower has a delinquent federal debt.

o   FHA Total Scorecard will be available, and loans can fund during this time, provided all normal underwriting and processing requirements are met.

o   Automated password resets will be available for FHA Connection, but resets that require an FHA employee's direct assistance will not be available.

VA:

·         The VA portal states that "The VA Home Loan Guaranty Program will continue to function as normal in the event of a Government Shutdown."

·         Any scenarios where VA needs to be contacted will not be available until the shutdown ends.

As more information becomes available we will pass it along to you as quickly as possible.