Fannie, Freddie Offering Hard-to-Beat Deals

Daily Real Estate News | September 29, 2010 | Share Beginning this week, Fannie Mae and Freddie Mac are trying to sell off 150,000 foreclosed homes by offering low down payments, no requirement for mortgage insurance, and up to $30,000 added to the mortgage for renovations. In addition, the real estate practitioner selling the property gets a $1,500 bonus. In some neighborhoods, these properties undercut the average listing by $100,000. Fannie and Freddie already have repaired the biggest problems with the property including roofs, plumbing, and electrical work. Buyers who plan to live in the properties get a 15-day chance to view the homes before investors can purchase them. Investors with cash will likely snap up any properties remaining at the end of the grace period. “Our goal is to recover as much as we can to offset our loss and not to be low balling properties just to move them,” says a Freddie Mac spokesperson. “We absolutely have no motivation to be leading a downward spiral in home prices." Source: Smart Money, Anna Maria Andriotis (09/28/2010) REALTOR® Magazine-Daily News-Fannie, Freddie Offering Hard-to-Beat Deals

Current mortgage loan rates

Loan rates on 30-year fixed rate mortgages remained much the same this week.

Click here to see a table of loan rates, courtesy of Troy Chambers, loan officer for Arboretum Mortgage in Seattle.

Troy Chambers
Arboretum Mortgage

Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com
www.troychambersmortgage.com

TONIGHT! Free iris bulbs at free workshop!

Free Iris bulbs for Workshop attendees tonight!

Those Savvy Seattle Women are hosting another free workshop, tonight, Tuesday, Sept. 28th, 6:30-8P at the West Seattle Branch of The Seattle Public Library (2306 42nd Av SW). (This event is not sponsored by The Seattle Public Library.)

This time the topic is Winterizing Your Home and Yard. Not one, but TWO guest presenters will be on hand to offer DIY tips. Suzanne Greive, from Home Inspections of Puget Sound, will offer advice on how to keep on top of maintenance tasks around your home. Linnea Ferrell, Landscape Architect, will share her professional expertise concerning how to properly prepare your yard and garden for the winter to ensure that your plants return with healthy blooms in the Spring. The first ten people in the door for the following workshop will receive free iris bulbs for their gardens, compliments of Ms. Ferrell!

This workshop, like all SSW events, is offered as a community service and is open to everyone. No pre-registration is required. Presenters are not allowed to sell any products or services.

For more information about Savvy Seattle Women, visit our website http://www.savvyseattlewomen.com//. Or call me at 206-708-9800.

Local food & diaper drive this Saturday

On Saturday, Oct. 2nd, Prudential Northwest Realty agents will be out in force to collect donations of food and diapers to benefit local food banks and WestSide Baby (http://www.westsidebaby.org/). Prudential calls it "Global Volunteer Day." I call it an opportunity to help our neighbors. You can help, too! Please bring your donations of canned goods, cash and/or diapers to our Prudential office at 4700 42nd Av SW, Suite 6 (Jefferson Square) any time, or to one of the grocery store locations on Oct. 2nd from 10AM-2PM, where we will be anxiously awaiting your assistance!

The 5 West Seattle stores who are graciously hosting our efforts are:

PCC

Metropolitan Market

Jefferson Square Safeway

Albertsons in White Center

Morgan Street Thriftway

Please give them your support!

Need ideas about what to give? Any non-perishable food is acceptable, especially packaged items such as rice, soup, peanut butter, tuna, chili, green beans, corn, pet food, cereal, oatmeal and pasta, to name a few. Every donation helps, even if it's just a can of soup or a hand full of change. And don't forget the disposable diapers!

Want to donate, but can't get to a donation location? Give me a call and I will happily pick up your donation in person! 206-708-9800.

Together, we can make a difference.

Sunday Open House in Belvidere

Today, from 1-4, I am holding Open a gorgeous, 1930 brick tudor which has been impeccably remodeled and updated from top to bottom. Four bedrooms, two and a half baths, approximately 2,500 sq. ft. on a beautifully landscaped 4,000 sq. ft. lot in West Seattle's Belvidere neighborhood. Separate dining room, french doors, natural gas, air conditioning, attached garage, convenient freeway access, and so much more. Come see for yourself. The address is 4019 Fauntleroy Way SW. MLS# 124009.

As usual, I will be giving coupons for free ice cream from West Seattle's own Husky Deli.

You can find information about this, and many other Opens, here: List of Open House Events.