Snoqualmie Pass Real Estate – Seattle population could surpass San Francisco’s

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com


Seattle could top San Francisco's population by 2040

By NAT LEVY
Journal Staff Reporter
The population of Seattle could top San Francisco's by 2040.
The Puget Sound Regional Council predicts another 1 million people will live in the central Puget Sound region by 2040. PSRC Executive Director Josh Brown said at a NAIOP meeting yesterday that at least 160,000 of those new people will live in Seattle.
Data from the city of San Francisco and University of California San Francisco show San Francisco's population is slightly less than 850,000. Seattle estimates its population now is 662,400.
Brown
Central Puget Sound — loosely defined by PSRC as King, Pierce, Snohomish and Kitsap counties — has about 3.9 million people today, and will grow to more than 4 million next year. By 2040, PSRC predicts the area will be home to more than 5 million.
The Growth Management Act requires much of that growth be in the largest population centers — with every city in the region taking a share — to avoid sprawl and preserve agricultural areas and forests.
Brown said the San Francisco Bay Area, where he worked as a real estate broker after graduating from University of California Berkley, has an “aspirational” strategy for handling growth but it lacks the GMA's teeth. Brown, who also served two terms as a Kitsap County commissioner, said the Bay Area's population today is about the same as when he lived there. Growth spurred by the continued success of Silicon Valley has spread out, creating a sprawling region.
PSRC is a long-range planning agency that works with cities and counties on economic development and transit. PSRC created the Vision 2040 plan to deal with growth.
All this population growth means more demand for housing.
“We will never be able to sustain the economic growth with reasonable housing costs in our region if we're not building housing,” Brown said.
But developers respond to market forces, Brown said, so construction won't always match up with population or income distribution. Cities around the region are wrestling with these issues, and the results can be seen in local policies like Seattle Mayor Ed Murray's Housing Affordability and Livability Agenda, which seeks to create 50,000 new units — 20,000 of them affordable — over the next 10 years.
The booming economy and population growth also increase traffic congestion. Brown said a recent PSRC survey showed 47 percent of respondents said transportation and traffic were the biggest issues for them. No other issue got more than 10 percent.
Around the region, Brown said there are more than 500 transportation projects underway and expected to be completed in the next three years, representing a $6.4 billion investment.
Voters approved another $6.8 billion for transportation over the next 16 years. Several other votes — most notably the Sound Transit 3 package in 2016 — could mean another $20 billion for transportation.
The region would be better off if many of these projects had been built decades ago, Brown said, but better late than never.
“We know a million more folks are coming here,” Brown said. “We can kick the can down the road to future generations, or we can be bold, step up and move forward with the next stage of investments that we know we're going to need for the region.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate – Real Estate Interest Rates Improving

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com

Interest Rate Pricing improves Moderately:  Mortgage Bonds and stocks both started out the week with a bump better as money flowed in to the US markets in response to the attacks in France. It was a modest move for the better but continued a bounce away from the recent move higher. Also supporting bonds was continued tepid readings on the economy. Inflation came in higher than recent readings due mostly to increased rents and medical costs. The markets continue to digest a belief that the FED will raise their Federal Funds rate in December. There is a question on how it will affect the stock markets. It economic readings are strong enough they will likely improve in spite of the normal circumstance that increased rates will hurt stocks. With all factors considered there does not appear to be any pressure on rates to move higher or lower. Stability is not a bad thing as it helps your clients make reliable predictions on their housing costs.  

"Why do you build me up Buttercup … just to let me down." The Foundations. The build-up to December's Fed meeting is mounting as Federal Open Market Committee members weigh the decision to change the Federal Funds Rate.

http://www.mmgweekly.com/templates/mmgweekly/reg_chart/555/images/top-image_2015-11-23.jpgMinutes released from the October FOMC meeting stated "most participants" agreed conditions would be right—or already were right—to consider an increase to the benchmark Fed Funds Rate at their meeting December 15 and 16. This rate, which is the rate banks use to lend money to other banks overnight, has been near zero for nearly a decade.

Real average hourly earnings (post-inflation) rose 2.4 percent in October from a year ago, while consumer inflation came in higher than expected due to rising rent and medical costs. Both of these economic readings followed a stellar October Jobs Report that showed job creation rebounded and unemployment dropped to 5 percent. Based on these signs, investors and economists are currently predicting a 74 percent chance of an increase to the Fed Funds Rate next month, though this figure could change based on upcoming economic reports. When the Fed Funds Rate does change, other consumer rates—like home loan rates—might follow, depending on other market and economic conditions.

In housing news, after a strong build up in September, October Housing Starts were a bit of a letdown, according to the Commerce Department. Housing Starts hit a seven-month low, falling 11 percent. Despite the drop, Housing Starts remained above the one million mark for seven straight months. This is the longest such streak since 2007. Building Permits, a sign of future construction, were another bright spot, rising 4.1 percent from September.

Also of note, the National Association of Home Builders (NAHB) Housing Market Index slipped in November to a reading of 62. However, readings above 50 are considered positive sentiment among home builders. NAHB Chief Economist David Crowe noted, "A firming economy, continued job creation and affordable mortgage rates should keep housing on an upward trajectory as we approach 2016."

Despite the recent volatility in the markets, home loan rates remain attractive and near historic lows. If I can answer any questions at all for you or your clients, please get in touch!

What Is Going On In The Economy: US asset classes are receiving support from a flight to safety in response to the terrorist attacks in France and Mali last week. Concern over growing strength of ISIS is seem as a possible damper on European economies. Money is moving to us markets from overseas. This is causing increases in stock prices and rate price improvements. Economic growth in Europe is very week and the ECB is proposing another round of stimulus. Economic growth here is still modest at best with some indications that it is slowing. Oil prices moved lower which is not a sign of growth but hard to decipher with so much supply coming from new sources. New York Manufacturing index came in lower than expected. The housing markets still show strength but housing starts were lower in October from the previous month. October job report numbers were good with August and September revised higher as well. Market watchers think there is a 70% chance of a FED rate hike in December. The hike will be modest and the FED will likely make statements that will keep the markets from being spooked about stocks.


Real Estate Miscellaneous Stats

Recovery in Real Estate Features Change in Buyers:  A Money Magazine article highlights some details about the market. Here are some bullet points and a link to the article. The national numbers show new home sales at their highest level since 2008. Construction crews are working at their highest pace since the 08 recession and builder confidence is at its highest level in 10 years. But this market is driven by a different buyer profile. 1. Median age has gone from 35 to 43. This is due to the slow pace of Millennial purchase. 2. Houses are getting bigger. The older families want more bathrooms. This is good for builder’s profits? 3. Student debt is not a hindrance to a home purchase according to a Zillow study. http://money.cnn.com/2015/10/21/news/economy/real-estate-older-buyers-more-bathrooms/index.html?iid=SF_LN


Economist Predicts Wage Growth in Seattle Area: University of California, Berkley Econ professor Enrico Moretti gave a speech this week for the University of Washington Runstad Center. At it’s leadership dinner Moretti highlights information from his book, ‘The New Geography of Jobs’. In the book he identifies the cities with the ‘right jobs’ and those with the ‘wrong industries’. Those with the right jobs show wage growth in most income sectors with each tech job creating 4-5 jobs in other fields from waitress to surgeon. Cities with the wrong industries have stagnating job markets with dead end jobs and low average wages. In the Seattle area he predicts wages will rise even though technology jobs make up only 15-20% of all employment. Economists point to wage growth as a key to s.ustained strength in Real Estate Markets. Moretti identifies housing development and public investment in transportation as other factors needed for sustained growth. See article here: http://www.bizjournals.com/seattle/blog/2015/10/good-news-seattle-youll-be-getting-a-raise-even-if.html

Area October Real Estate Numbers Indicate Robust Market:  The Real Estate markets in King, Snohomish and Pierce counties sales were among the best on record in October. These numbers occurred in spite of a reduction in inventory of over 30% from last years low inventory readings. New construction is not keeping up with the growing demand. The availability of buildable land is one of the biggest challenges especially close in to employment centers. We are seeing strong numbers in the north and south end of King County as many are priced out of more central markets. This caused the biggest price jump in the suburbs in October. North King county median value jumped 17% to $449,950 and Southwest King was up to $297,824 which is also a 17% jump. The gains are spilling over to Snohomish and Pierce counties. Snohomish county is up 11.3% to $365,000  and Pierce is up 10.5% to $255.250.

New Snohomish County Back Road Attractions Tour Now Available For Free: For those of you who live in my area I thought this was a great resource. http://www.bothell-reporter.com/lifestyle/337635451.html

CFPB Cracking Down On Referral Arrangements:  Industry insiders who are in direct communication with officials from the Consumer Financial Protection Bureau have been warning us of coming greater scrutiny of the Real Estate Industry regarding ‘pay for referral’ arrangements between title companies, lenders and real estate brokers. These pay for referral arrangements are not usually obvious as participants have become more opaque in their efforts to avoid detection and punishment. Now the CFPB has issued direct warnings about their intentions to look deeply in to marketing arrangements including MSA’s. Though many MSA’s do not violate federal real-estate settlement rules, the Mortgage Broker’s Association says the warning is clear from the CFPB. They view MSA’s as highly risky ventures often designed to evade the intention of the RESPA laws. Experts site examples of real-estate brokers requiring large payments from lenders and title companies in order to display their promotional materials or have office space in their location in order to access realtors. One nationally known legal expert on RESPA rules has said most MSA’s he has reviewed do not look good and likely will not pass CFPB scrutiny. Typical tip offs that agreements are in violation are marketing that is directed solely to the customers of a real estate firm rather than to the general public, payments for marketing that is not consistent with the level of services provided and payment for office space in a real estate office that is not typical for local commercial rents in the area. Individual marketing arrangements are also targets for review by the CFPB. They stress that any cooperative marketing be paid for by each party that is commiserate with the space devoted to the parties on the marketing materials. 



  Loan Program Of The Month. Private Down Payment Assistance Program: New American Funding has access to the down payment assistance program through the Washington State Housing Finance Commission. We also have access to a private product offered by a major bank. The advantage to this program is it allows for higher household income. In our area this can make or break financing for some borrowers. Contact me for details.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Carnation Real Estate, Suncadia Real Estate, Easton Real Estate, ThomasWolter.com, http://www.snoqualmiepassliving.com