Real Estate Information Archive

We want to let you know that many experts are predicting a rise in inflation and consequently a rise in interest rates as a result of the government's stimulus spending. The chart below demonstrates just how historically low interest rates are. Take a look at where rates were in the early eighties - the last time inflation skyrocketed.

Now is still a great time to buy with prices down as much as 15% from their peaks, the $8,000 first time homebuyer tax credit for buyers who have not owned a home in the last three years has been extended, and now some homeowners who have owned their home for at least five years may qualify for a new tax credit! 

Please contact us for further details!

Yesterday the Obama Administration announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program which include; Integration of Hope for Homeowners to Help Underwater Borrowers Regain Equity, and the Parallel Second Lien Program.

These latest announcements will make it easier for borrowers to modify or refinance their loans under FHA's Hope for Homeowners Program. The Federal Housing Commissions, Hope for Homeowners, requires the holder of the mortgage to accept a payoff below the current market value of a home, allowing the borrower to refinance into a new FHA-guaranteed loan.  Refinancing into a new loan below the home's market value takes a borrower from a position of being underwater to having equity. 

Under the changes made yesterday, when evaluating borrowers for a Home Affordable Modification, servicers will be required to determine eligibility for a Hope for Homeowners refinancing.

The Second Lien Program announced will work in tandem with first lien modifications offered under the Home Affordable Modification Program to provide a solution for struggling borrowers.  Second mortgages can create significant challenges in helping borrowers avoid foreclosure, even when the first lien is modified.

To read more about these new changes, visit http://www.treas.gov/press/releases/tg108.htm or http://makinghomeaffordable.gov.

The dedication will be taking place Saturday, April 25th at 10:00 a.m., Shoreview Park!

Join the celebration Saturday, April 25, at 10:00 a.m. at Shoreview Park as the City of Shoreline dedicates and opens the Shoreview Off-leash Dog Area. The dog area located at 320 Innis Arden Way is to the east and up the hill from the Shoreview tennis courts, in the southeast corner of the park. It can be accessed from the Shoreview parking lot off Innis Arden Drive or from the Shoreline Community College parking lot by entering through the driveway that is furthest west. Then follow the signs. The Off-Leash Dog Area closes at dusk -- as do all Shoreline parks -- so be sure to leave before the posted time that the gate will be locked.

In additon, Shoreline will be opening a SECOND off-leash area later this year and will be developed at Richmond Beach Saltwater Park.

To read more, visit the City of Shoreline website!