July Numbers Exude "Recovery"

Mortgage Rates Slowing Moving UP

Mortgage rates are inching up as the economy slowly improves. Rates for a 30-year fixed mortgage rose to an average of 3.62% for the week ended Aug. 16, from 3.59% a week earlier.

That was below the 4.15% average rate a year ago and this year’s 4.08% high in March. The economy’s growth, though still weak, has pushed up Treasury yields—in turn putting pressure on mortgage rates.

(Conor Dougherty, Wall Street Journal)

Home-sale prices show first year-over-year gain since 2008

The selling price of homes and condos in Western Washington showed a year-over-year gain in April – for the first time in more than four years.

A home I just sold, 29 days on market, listed for $238,639, sold for $240,000,

appraised for $237,000 which was the final sales price.

Prices rose 1.27 percent between April 2011 and last month, after declining for 50 consecutive months, sometimes by double-digit percentages.

The median price for closed sales in 21 counties was $240,000, compared to $237,000 a year ago.

Brokers who reported the numbers to the Northwest Multiple Listing Service (MLS) did temper their optimism, though, saying any recovery in the housing market will be slow and incremental. Especially in outlying areas, the turnaround could be delayed, they said.

Speak Your Mind ~ City of Olympia & City of Lacey

VOTE - it's your right!

Tonight August 14, 2012 - City of Olympia 

7pm - City Hall - Council Chamber

601 4th Avenue E

Olympia, WA 98501

   

*Briefing on the Use of Plastic Bags

1. Informational Flyer

2. Community Meetings Schedule

  

*Timeline and Milestones for Acquisition of Isthmus Properties 

*Family Support Center's Proposal to Purchase the Smith Building

1. Proposal

2. Summary of Conditions, Etc

   

LACEY WATER UTILITY TO HOST SERIES OF OPEN HOUSES ON MUNICIPAL WATER SYSTEM AND RATE PROPOSALS

LACEY, WA, August 9, 2012: Lacey water utility customers are invited to participate in any of three open houses scheduled this month to learn about their municipal water system and proposed changes to water rates. Attendees will be able to visit with water utility staff from 5 to 7 p.m. on: 

Thursday, August 16, at the Lacey Community Center, 6729 Pacific Avenue SE

Monday, August 20, at the Hawks Prairie Golf Club's Talon Grill

Wednesday, August 22, at the historic Jacob Smith House, 4500 Intelco Loop SE

For more information:  http://www.ci.lacey.wa.us/news-events/press-releases/newsid2198/294

• Flood Plan Update  PLUS:  Important flood-risk information on your property available!

Please attend one of two workshops on Thurston County's Comprehensive Flood Hazard Management Plan.  A steering committee of staff and citixens is working with county employees and a consultant to update the Flood Plan, which includes hazard mapping, policies and regulations, and flood damage history.

PUBLIC WORKSHOPS -

Monday, August 20, 5:30-9:00 pm

County Courthouse Bldg. 1 Rm. 152

2000 Lakeridge Dr SE

Olympia, 98502

Tuesday, August 21, 5:30-8:00 pm

Emergency Coordination Center

9521 Tilley Rd SW

Olympia, 98512

For more information, contact Mark Swartout, 360-709-3079;

swartom@co.thurston.wa.us or vist website at:  www.co.thurston.wa.us/planning/natural-res/natural-floodplan-update.htm

Tour the Inspiration Home

Would you like a home that costs less than $200 to heat for an entire year? The Inspiration Home was created to raise awareness that everyone can own a distinctive and stunning home that is energy efficient, healthy, low maintenance, and, most importantly, affordable. 

Whether you're considering a new home or looking for ways to make your existing home more efficient, we invite you to the Inspiration Home Tour to see, touch, and discover the innovative products and building techniques that make this house extraordinary.

• Admission: FREE, $5.00 donation requested. 100% of the proceeds benefit The Salvation Army.
• Dates: Saturdays & Sundays, August 18-19 and 25-26
• Hours: 10 am to 4 pm
• Location: 1402 13th Ave SE in Olympia, WA 98501

Tour Requests: No photography, backpacks or strollers allowed in home(s). Flat shoes only, no heels. Smoking, food and beverages prohibited in house and on grounds.

8 Signs That Housing is on the Mend

1.    Housing prices are on the rise across the country.

2.    Foreclosures have slowed. Analysts suggest that as the supply of distressed homes slows, buyers will be forced into higher-price properties too.

3.    Inventories of for-sale homes on the market are decreasing. In fact, inventories of for-sale homes have dropped 24 percent from a year ago.

4.    Mortgage rates are at ultra record level lows, for those who can qualify.

5.    Housing starts rose 6.9 percent in June. Also, existing-home sales were up 4.5 percent higher in June compared to one year ago.

6.    Home building stocks are on the rise.

7.    For investors who are buying homes, rents are soaring, allowing them to cash in on their investments. Rental prices are at a 10-year high as median units rent for $710 a month.

8.    Home affordability is at record highs for the median income family, due to falling home values and super low mortgage rates. In fact, a recent study found that it is cheaper to buy a home than rent in basically every major city in the U.S. For those who buy, you can save the cost of renting by owning the home for five years or less.