Jan Lipetz's Blog

A new economic recovery report.

Jan Lipetz — Wed, 09 Feb 2011 22:45:00 GMT

Check out the new economic report by Mathew Gardner.

It's quite encouraging. You can see it on my website at www.lipetzhomes.com.

It's at the bottom of the page.

Some great news is that we are not going to have a double dip!

We are slowly climbing out of our hole.

Give me a call.

425.445.5201

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A Brighter Housing Outlook!

Jan Lipetz — Tue, 28 Dec 2010 13:55:00 GMT

Economic and Housing Outlooks Brighten According to Fannie Mae Analysis Group

Print Article

RISMEDIA, December 28, 2010

Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group.

Downside risks still exist, however, including a weaker than expected employment report, the ongoing economic turmoil in Europe, and potential inflation problems in China.

For 2011, forecasted growth was upgraded from 2.9 percent to 3.4 percent based on the positives in the recent reports. The forecast anticipates improving labor market conditions, despite the huge disappointment from the November employment report. The housing recovery should gain momentum going into 2011 if the expected stronger labor market materializes.

Despite rising mortgage rates, our forecast for home sales is stronger than the previous forecast, given our brighter economic growth and labor market outlook, said Fannie Mae Chief Economist Doug Duncan. We expect modest increases in home sales, despite recent interest rate rises, due in part to modest additional declines in home prices, and we expect people to take advantage of affordability as their employment and income outlook brightens.For an audio synopsis of the December 2010 Economic Outlook, listen to the podcast on the Economics & Mortgage Market Analysis (http://www.fanniemae.com/media/economics/index.jhtml?p=Media&s=Economics+%26+Mortgage+Market+Analysis) site at www.fanniemae.com. Visit the site to read the full

December 2010 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast.

Also available via link from the Economic Developments Commentary is a Multifamily Market Commentary by Kim Betancourt, Director, Multifamily Economics and Market Research. The Commentary provides information on current multifamily market conditions. Sales of multifamily properties have been rising all year, and property sales are expected to remain stable in 2011. Location, class, and condition of properties continue to be the greatest decision-making factors for investors.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae Economics & Mortgage Market Analysis (EMMA) group included in these materials should not be construed as indicating Fannie Mae business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the EMMA group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the EMMA group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in Americaï¿½s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

If you know of anyone that would like to take advantage of the current housing market let me know I would be happy to help them!

Jan Lipetz

Windermere Real Estate

Cell:425.445.5201

Fax: 425.392.0558

http://www.lipetzhomes.com

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Shop and eat Pie for the Holiday's

Jan Lipetz — Mon, 22 Nov 2010 11:00:00 GMT

Shop for homes or shop for holiday gifts at Up Front our local Issaquah gallery.

Go to www.arteast.org to get more information. All handmade items for that special person.

This gallery is a co-op.

Here is a great recipie for Pumpkin Pie!

http://northpotomac.patch.com/articles/its-all-about-the-pie

I am always availble to show homes for the holiday's!

Happy Thanksgiving!

Jan Lipetz

425.445.5201

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The latest in the B of A Foreclosure mess. Mortgage rates

Jan Lipetz — Tue, 12 Oct 2010 18:15:00 GMT

October 12, 2010

Legal Q & A

Question:
Last week's Q&A said that nationwide foreclosure problems
were not likely to affect Washington state.

On Friday, however, Bank of America suspended the sale of its foreclosed home inventory in all 50 states. Has anything changed?

Answer:
Based on Bank of America's statement, the bank has postponed the sale of its real estate inventory. acquired through foreclosure, in all 50 states. Bank of America's policy seems to be an "across the board" policy without characterization of defective processes in any particular state. There is no reason to believe that homes foreclosed in Washington cannot be resold to third party buyers with clear title. Bank of America's reaction is sweeping and does not account for the foreclosure process in Washington state.

With that said, there was a case decided by one of our state's appellate courts at the very end of September, that resulted in the overturning of a foreclosure sale, on the courthouse steps, to a buyer (not the bank). In that sale, there were procedural defects in the bank's handling of the foreclosure process and the buyer who purchased the property, for less than 20% of its value, had reason to know of the defects in the process. Based on those facts, the court concluded that the buyer was not a bona fide purchaser and the court unwound the sale to the buyer.

This case does not appear to alter the way in which Washington title companies will issue policies to buyers of foreclosure properties if the buyer purchases from the bank after the bank takes title to the property through the foreclosure sale. Business as usual should remain the course of business for title policies issued to buyers who purchase property from the bank, even if the bank acquired title to the property through foreclosure. The title policy that may or may not be revised is the policy issued to a buyer who purchases the property on the courthouse steps, at the trustee's sale, as part of the foreclosure process. Few REALTORS are involved in representing buyers in those purchase transactions but for those who are, buyers should be advised to seek legal counsel for assistance in reviewing the limitations, if any, in any title insurance policy buyer may purchase.

Ultimately, the Bank of America postponement of foreclosure sales and postponements by any other lenders who may follow suit, constitute another difficult situation that our industry must endure in what is proving to be an era of unpredictability and rapid change. However, the Bank of America policy is not indicative of any fundamental flaw in Washington law relative to foreclosures. Washington will land on its feet with respect to this issue.

Mortgage Rates

Mortgage Rates Continue to Fall According to Freddie Mac's Weekly Survey 30-year fixed-rate mortgage (FRM) averaged 4.27 percent with an average 0.8 point for the week ending October 7, 2010, down from last week when it averaged 4.32 percent. Last year at this time, the 30-year FRM averaged 4.87 percent.

15-year FRM this week averaged a record low of 3.72 percent with an average 0.7 point, down from last week when it averaged 3.75 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.47 percent this week, with an average 0.6 point, down from last week when it averaged 3.52 percent. A year ago, the 5-year ARM averaged 4.35 percent.

1-year Treasury-indexed ARM averaged 3.40 percent this week with an average 0.7 point, down from last week when it averaged 3.48 percent. At this time last year, the 1-year ARM averaged 4.53 percent.

Jan Lipetz

Windermere Real Estate

Cell:425.445.5201

Fax: 425.392.0558

http://www.lipetzhomes.com

I LOVE your referrals to friends and family members.

I couldn't do it without you!

Who do you know that will be buying or selling

in the near future?

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Another Fabulous Waterfront Home!

Jan Lipetz — Fri, 08 Oct 2010 14:53:00 GMT

I have just listed another fabulous riverfront home. Check it out on my website! It's in North Bend.

It is a real beauty! The mountains surrounding the home are just gorgeous too!

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Wow! A 30 year fixed rate at 4.250%

Jan Lipetz — Tue, 31 Aug 2010 16:06:00 GMT

Bankrate.com says today you can get a 30 year fixed at 4.250%. Wow. And there are some great

Jumbo loans out there right now that can match that. Give me a call and I will put in touch with a great

mortgage broker that can make it work for you!

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Check out my wonderful riverfront listing.

Jan Lipetz — Tue, 31 Aug 2010 15:59:00 GMT

3030 square feet on the Raging River for $515,000.00. A terrific value on a 1/2 acre

in the Issaquah School district. A fabulous view of the river from nearly all the rooms in the house.

Updated kitchen with granite counter tops and stainless appliances. Updated bathrooms.

4 bedrooms, a grand master suite overlooking the river. A hot tub hook up under the deck.

Watch the salmon run in your own backyard. Check out my site to see this listing at

www.lipetzhomes.com.

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Weekly Issaquah/Sammamish updates

Jan Lipetz — Mon, 30 Aug 2010 07:39:00 GMT

I have weekly updates right here on my website for Issaquah /Sammamish rentals,

Issaquah Highlands Condos and Issaquah Highlands residential properties.

Be sure to stop by and stay updated on what is going on. Please call

with any property questions you might have. 425.445.5201.

Have a great week!!

Sincerely,

Jan Lipetz

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Opportunity of a lifetime!

Jan Lipetz — Wed, 18 Aug 2010 12:16:00 GMT

Interest rates are still incredible!! Prices are very low. This is an opportunity of a lifetime!

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Up to date listings all the time on my site!

Jan Lipetz — Wed, 18 Aug 2010 12:13:00 GMT

Come to my site and view up to date listings for the Issaquah Highlands and

rentals for the Issaquah Sammamish area!

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Watch my "make your kitchen green" video!

Jan Lipetz — Mon, 14 Jun 2010 21:37:00 GMT

It's a really nice up to date video. quick and easy to watch. Just check out my website.

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50 year lows on interest rates!

Jan Lipetz — Mon, 14 Jun 2010 21:35:00 GMT

This is still a great time to buy! Interest rates are at 50 year lows and

prices are still low. Interest rates can cost you more than the price

on the home.

Call me for the real up to date market picture.

Jan Lipetz

425.445.5201

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Go to my webiste weekly for updates on Issaquah homes and rentals!

Jan Lipetz — Tue, 09 Mar 2010 12:58:00 GMT

Hi all,

I update my website weekly on Issaquah/Sammamish rentals, as well as Issaquah Highlands homes and Condos for sale. Check it out. It's easy to access. I think you will like it!!

I am always here to answer your questions so please don't hesitate to e-mail, text or call.

425.445.5201

janl@windermere.com

Jan

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April 30th Count Down

Jan Lipetz — Wed, 17 Feb 2010 11:54:00 GMT

Interest rates are still low, prices are still low, and the tax credit is available until April 30th.

Interest rates are expected to go up by at least 2 points in the next year. Buying now

could save you a lot of money!

Give me a call if you want to go out and look or want to find out what your house is worth!

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New Extended Tax Credit

Jan Lipetz — Sun, 29 Nov 2009 11:25:00 GMT

This new credit now allows homeowners that have owned a home for at least 5 years but not more than

8 years to recieve a $6,500.00 tax credit if they make $250,000.00 or less a year as a couple or $125,000 a year or less as an individual. Interest rates are still low and prices are still down!!

It's a great time to move up!

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Count Down for your Tax Credit

Jan Lipetz — Sun, 29 Nov 2009 11:25:00 GMT

Did you know it takes about 30 days to close on a home? The tax credit ends November 30th so

you need to buy buy October 1st!!!! Call me and I'll find you a great home!

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Now is the time to buy!

Jan Lipetz — Tue, 02 Jun 2009 15:14:00 GMT

Don't wait. Interest rates are at all time lows and prices have fallen. This is the perfect scenario to buy! First time home buyers can get their $8,000.00 tax credit. Haven't owned a home in 3 years? You might qualify for the tax credit. I can give you all the details.

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