Burien Real Estate

News on Mortgage Rates

Another Record Low Set For Long-Term Mortgage Rates This Week
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.85 percent with an average 0.7 point for the week ending March 26, 2009, down from last week when it averaged 4.98 percent. Last year at this time, the 30-year FRM averaged 5.85 percent. The 30-year FRM has not been lower in the life of Freddie Mac’s weekly survey, which dates back to 1971 for the 30-year FRM.

The 15-year FRM this week averaged 4.58 percent with an average 0.7 point, downfrom last week when it averaged 4.61 percent. A year ago at this time, the 15-year FRM averaged 5.34 percent. The 15-year FRM has never been lower in the life of Freddie Mac’s weekly survey, which dates back to 1991 for the 15-year FRM.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.96 percent this week, with an average 0.7 point, down from last week when it averaged 4.98 percent. A year ago, the 5-year ARM averaged 5.67 percent. The 5-year ARM has never been lower in the life of Freddie Mac’s weekly survey, which dates back to 2005 for the 5-year ARM.

One-year Treasury-indexed ARMs averaged 4.85 percent this week with an average 0.6 point, down from last week when it averaged 4.91 percent. At this time last year, the 1-year ARM averaged 5.24 percent.

Wine Tasting Fundraiser contributes to Highline Food Bank

On Saturday, March 21^st, Vino Bello Wine Bar held a special wine tasting and fundraiser for the Highline Food Bank. Customers donated 97lbs of food and cash as well. To find out how you can help the Highline Food Bank call 206-433-9900. To find out more about Vino Bello Wine Bar and to be invited to special events, go to the Vino Bello website and join the email list.

“The food bank event at Vino Bello was a feel-good event and a win-win situation. As a regular at Vino Bello, I was treated to tastings of incredible wines, and the Highline Food Bank received much needed cash and food donations.  It would be great if more businesses came up with ways to support the local community like this!” – Kim Sharpe Jones

read more here…

Seattle Aquarium Visit

Even with a bus load of 5th graders it was only a short trip from Burien to the Seattle Waterfront.  Today was a fun day of exploring the Seattle Aquarium. The kids got to collect samples of plankton and then take the research indoors and view under a microscope.  I never knew there were so many different species of plankton, I guess the Spongebob version is only one of them.

Here are a few pictures from the trip:

Opened in 1977, funded by $5.4 million from King County Forward Thrust bonds
Hosted:
- 19 million visitors since its opening in 1977
- 519,000 estimated Washington State resident visitors in 2007
- Over 1.5 million school group participants in its 31 years; 50,000 in 2007
- 10,319 school group visitors in 2007 funded by contributions made at our
annual Splash! auction for less advantaged students.
- A record breaking 811,000 visitors in 2007
- 74 full time equivalent staff led by John Braden, Director
- Contributed time from 617 volunteers exceeded 65,387 hours of service
valued at $1,145,000
- Combined annual operating budget: $10.3 million operating budget is
generated through gate receipts, concessions income, membership, grants
and private contributions.

Mortgage Rates Friday March 13th 2009

The bond market was flat at market’s close and rates were able to hold their position from last Friday.  Citibank made a big splash in the financial sector by announcing they did not need anymore TARP money from the government.  What’s more, the flagging financial institution is looking to post its first profitable quarter in a long time.  This caused quite a bit of excitement in the stock market helping the Dow to close up 54 points and finish the week at 7,224.

We’re still waiting for more information regarding the implementation of the Homeowner Affordability and Stability Plan.  I’ll keep you posted, but right now I’m just as much in the dark as you are.

Best regards,

Ben

All rates are based on a principal and interest payment and a 1% loan origination fee.  Please note that interest rates for condos are slightly higher than what’s show below.

Ben Lenderman
Home Mortgage Consultant
Wells Fargo Home Mortgage
P6447-140
10900 NE 8th St
Bellevue, WA 98004
425-468-8613 Tel
425-301-1897 Cell
866-636-7738 Fax
ben.lenderman@wellsfargo.com
http://www.wfhm.com/ben-lenderman

Poggi Bonsi-Weekend Sales!

New this week: Colorful Straw bags.
YES, they’re 30% off!

Poggi Bonsi Retail Outlet is open to the public:

Saturday 10 to 6 and Sunday 12 to 4

WA Wine Month continues at Vino Bello

Sips & Nibbles

We’ve been working hard to bring you fabulous new food and wine pairings. We’ve teamed up with Ronnie at Hey Paison, Western Washington’s Best Italian Deli to bring exclusively made tasty treats for Vino Bello that enhance your wine experience. Here are just a few…

• Sizzling chicken/beef/pork skewers 2 for $5

• Gorgonzola puff pastry bites 8 for $2.5

• Homemade marinaded olives with Rustic bread for dipping $4

And if you stop in weekdays between 4pm – 6pm you’ll enjoy happy hour prices!

Wine Tasting & Live Music*

Saturday, March 14th
Vino Bello welcomes Airfield Estates Winery
Tasting Noon – 9pm
Meet the Winemaker 4pm
Live Music featuring Blues Guitarist JD Hobson 5pm

We know you’l love these wines, come by and try them!

2007 “Thunderbolt” – Sauvignon Blanc/ Semillon Blend
This crisp, refreshing white wine is a blend of 73% Sauvignon Blanc and 27% Semillon. It exudes trademark Sauvignon Blanc characteristics of gooseberry, passion fruit, and a touch of grassiness and is enhanced by richness in mouth-feel and texture provided by the Semillon. Try this with Greek and Caesar salads, crab cakes, artichoke dip, and sushi.

2007 Riesling
Well balanced with impressive acidity, this slightly sweet Riesling offers a bouquet of citrus and apple with a touch of minerality. It begs for Asian inspired foods, oysters, shellfish, and salads.

2006 Cabernet Sauvignon
This full-bodied Cabernet Sauvignon was aged for 18 months in American Oak. It offers aromas and flavors of dark berry, tea leaf, tobacco, and sandalwood. It pairs well with most red meats and robust cheeses.

2007 Spitfire
An Italian blend of 50% Dolcetto, 25% Primitivo, 12% Sangiovese, 12% Syrah, and 1% Barbera.

2007 Mustang
A Rhone blend of Syrah, Granache, Mouvedre, Cinsalt, & Counnoise.

2007 Tempranillo
Tempranillo is Spain’s most popular red, and we feel that it will be quite popular for Airfield Estates too!

See you at Vino Bello!

Michele, Chrissa & Jason

*Tasting fee $10/person, buy any 3 wines from this menu to waive the fee. $3/per person music charge 5pm – 7:30pm. Must be 21.

Vino Bello Wine Bar
636 SW 152nd Street – F, Burien, WA 98166 | (206) 244-VINO | www.vinobello.com | info@vinobello.com

Weekly Mortgage/Interest Rate Update by Ben Lenderman

We were able to pick up some pricing this week from where we left off last Friday.  Continued stock market and unemployment woes led investors to the safe haven that is the bond market.  The Dow closed at 6,626 and employment figures released today showed an additional loss of 651,000 jobs in February – bringing the unemployment rate up to 8.1%.  One (unfortunately) interesting note in today’s trading was GM.  The automaker giant traded at its lowest level since May 1933.  Yikes!

We’re hoping to have more information soon on the Homeowner Affordability and Stability Plan.  We know what the plan has in mind but we don’t yet know how it will be implemented.  There are many requirements that a homeowner must meet in order to be eligible for the plan, but the Obama administration is forecasting a potential benefit to 5 million Americans through loan refinances or loan modifications.  Hopefully we’ll have more information on this by next Friday.

All rates are based on a principal and interest payment and a 1% loan origination fee.  Please note that interest rates for condos are slightly higher than what’s show below.

Ben Lenderman, Home Mortgage Consultant
Wells Fargo Home Mortgage
P6447-140
10900 NE 8th St
Bellevue, WA 98004
425-468-8613 Tel
425-301-1897 Cell
866-636-7738 Fax
ben.lenderman@wellsfargo.com
http://www.wfhm.com/ben-lenderman

Burien Real Estate News

A couple days ago several of our local real estate companies including; Coldwell Banker, Keller Williams, Windermere, Prudential, John L. Scott, Re/Max Team One, McCarthy GMAC Real Estate held a Mega Broker’s Open.  There were 13 homes within a one mile radius for real estate agents to come preview.  I checked in with our Burien Re/Max Team One office and this is what Leslie Newman had to say.

“The Brokers Open went really well and a huge thank you to Nicole Beck for putting it together.  I had over 15 agents stop by and preview which I very much appreciated.

Our office is doing fantastic.  As of today we have 10 Associates.  We are very busy with listings and sales.  Several of the associates are busy with short sales as well as first time home buyers and move up customers.

Changes I have recently noticed include multiple offers on properties priced under $280,000.  I am seeing multiple offers in several areas of Des Moines.

Our Shorewood View Estates plat has 3 sales in the last 30 days.

We have some gorgeous view homes for sale priced to sell.  It is a great time to buy a home!”

Photos by Tim Robinson.Highline Times.
Leslie Newman
Owner/Managing Broker
RE/MAX Team One
206-769-8882

This has been the overall consensus with the other offices I spoke with.  It’s a great time for buyers and there are some smart people out there taking advantage of the amount of home they can purchase in today’s market!  If you have any Burien Real Estate needs, feel free to contact me. 206-412-3699 Danita