Are you a single homebuyer?

31% of homebuyers are single. Are you? Visit my Prudential website to find a variety of resources to help you get started with your home search. Click on the "Single Buyers" tab at the top of the page for information on topics such as: home security; home styles; steps to home ownership; renting vs. buying; pet owners as home owners; and, free homebuyer workshops.

Homebuyer Tax Credit deadline is fast approaching

Are you hoping to be a first-time home buyer and wanting to take advantage of that $8,000 tax credit offered by the government? Remember that in order to qualify you need to CLOSE the purchase of a home by Dec. 1st (NOT Dec. 31st). Working a typical home-buying timeline backwards, that means you need to begin seriously shopping for a home by early October. Here's how I come up with that recommendation.

Average time from making an offer to close a purchase: 30-45 days
Average time to find a home once you begin looking: 2-4 weeks
Total: 8-10 weeks (2-2.5 months)

So working backwards, that puts you between September 15 - October 1st if you don't want to be pushed to buy something that isn't what you really want. And keep in mind that there are likely to be A LOT of other folks who will suddenly awaken to that reality, which may deplete inventory and lengthen the average timeline. And there is no way to be certain that interest rates will stay as good as they are now.

If you are thinking that Sept. 15th is still a long ways away, just consider how quickly the summer months always seem to fly by.

Do you have questions about whether or not you qualify for the tax credit? Give me a call and I'll help you find the answers. 206-708-9800

Gatewood Open House today

George Jetson would have loved this home! A true "modern" mid-century classic in the heart of Gatewood. This 4 bdrm/2.25 bath home boasts an open floor plan with refinished hardwoods and a gorgeous fireplace, among many other fine features. I will be holding it open from 1-4 today. Listed at $499,000 by Prudential's Johnson Team. Come by and take a look and pick up your coupon for a free ice cream cone from West Seattle's own Husky Deli.

Current loan rates

Here is your weekly summary of loan rate activity, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.

"Rates are down, and things are looking up. Many lenders are offering 5 year ARMs in the low 4s and even the high 3s! That is amazing. Fixed rate mortgages are inching back down to the 4s as well. Please let me know if anyone you know is looking for a refinance or new home purchase financing. Please feel free to contact my cell phone at any time at 425-418-5103."

Troy Chambers
Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com

Click here to see a table of rates.

Gatewood Open House, Sat. & Sun.

A true mid-century classic! This weekend I'll be holding open a 4 bdrm/2.25 bath home at 3510 Rose Ave SW. If you're looking for a spacious, modern/retro home in a great neighborhood, this may be the place for you. Listed at $499,000 by my Prudential colleagues, the Johnson Team. I'll be there from 1-4 both Saturday and Sunday, giving away coupons for Husky Deli ice cream cones, so come on by.