There are so many things that make the South Puget Sound one of the country’s best places to live. One of the great gems in our community is the Boys & Girls Club of Thurston County.
The organization involves young boys and girls in wholesome -- and fun – after-school activities that build their self-esteem and self-worth. They teach the values of responsibility and respect. They empower children to make wise and educated life choices. In this age of teen alcohol, drugs, premarital sex, and violence, we work to help create model citizens for our future.
The Boys & Girls Clubs serve more than 1,750 youth, ages 5-18, from four Club locations in Tumwater, Rochester, Olympia and Lacey. The Clubs’ doors are open to kids from all schools and from all backgrounds. They serve children from 39 local schools. Approximately 18 percent of the kids are from single parent households. Thirty-three percent are from minority groups. Overall, 58 percent come from low-income households.
The Clubs’ vital services mean a lot to working families in our community. Memberships are just $25 per year and are waived in cases of financial hardship. Simply put, the Boys & Girls Clubs are a win-win situation for the entire family and are an investment in the future of our community.
Just yesterday, the organization held its annual fundraising breakfast. The money raised is vital to continuing the great work of the Clubs. In a hugely generous offer, the Boone family’s Stars Foundation set up a matching contribution challenge. Now through June 4th the Stars Foundation of Thurston County will match every donation made to the Clubs dollar-for-dollar. You can make a gift by visiting the Boys & Girls Club of Thurston County’s secure web site at http://www.bgctc.org/
Friday, May 28, 2010
Memorial Day 2010
Memorial Day, originally known as Decoration Day, originated in the years following the Civil War and became an official federal holiday in 1971. Many Americans observe Memorial Day by visiting cemeteries or memorials, holding family gatherings and participating in parades.During the first celebration of Decoration Day, General James Garfield made a speech at Arlington National Cemetery, after which 5,000 participants helped to decorate the graves of the more than 20,000 Union and Confederate soldiers buried in the cemetery.
Throughout our Nation's history American military personnel have stood tall to oppose the enemies of freedom. Many of these brave servicemen and women gave their lives to defend our liberty and uphold the promise of our democracy. Because of their selfless service and sacrifices, we are blessed to experience peace, prosperity and independence.
On Memorial Day we pay homage to the gallant patriots - both past and present - who have fallen in service to our country. A debt we can never truly, fully repay.
We, as Americans, are grateful to all those who have put on our Nation's uniform, and we will always remember their service and sacrifice for our freedoms.
Thank you from all of us here at Coldwell Banker!
Thursday, May 27, 2010
Mortgage Rates Nearing Record Low
Freddie Mac reported today that the average rate on a 30-year, fixed-rate mortgage dropped to 4.78%. That is near the all-time low of 4.71% reported in December of 2009. In its weekly Primary Mortgage Market Survey, Freddie Mac noted that rates have dropped from 5.21% in early April.
At the end of March, the Federal Reserve ended its program to buy $1.2 trillion in mortgage-backed securities. That program was designed to add demand to the fragile market and thereby hold mortgage rates low. Many observers had expected rates to rise, even if slowly, after that program ended. The economic situation in Europe, however, has sent more investors to the safer waters of U.S. Treasuries, which are a benchmark for mortgage rates. That, in turn, has kept rates surprisingly low.
Low interest rates is but one of two components keeping housing at some of the most affordable levels in a decade or longer. Price drops over the past couple of years is the other component.
The affordability that exists in many listed homes today is bringing buyers back. Pending sales continue to be steady despite the expiration of the homebuyer tax credits last month. It is likely that May pending sales will be lower this year than last, but that is simply because so many buyers sped up their buying decision to meet the tax credit deadline. Pending sales in April were up more than 33% over April 2009. Without the urgency of the tax credit deadline, many April sales might have happened in May and June.
Even without the tax credit, buyers are seeing that price reductions have been much more substantial than the $8,000 or $6,500 offered through the tax credits. It is those price levels that are most meaningful to today's buyers. It is why they continue to be active in the market.
At the end of March, the Federal Reserve ended its program to buy $1.2 trillion in mortgage-backed securities. That program was designed to add demand to the fragile market and thereby hold mortgage rates low. Many observers had expected rates to rise, even if slowly, after that program ended. The economic situation in Europe, however, has sent more investors to the safer waters of U.S. Treasuries, which are a benchmark for mortgage rates. That, in turn, has kept rates surprisingly low.
Low interest rates is but one of two components keeping housing at some of the most affordable levels in a decade or longer. Price drops over the past couple of years is the other component.
The affordability that exists in many listed homes today is bringing buyers back. Pending sales continue to be steady despite the expiration of the homebuyer tax credits last month. It is likely that May pending sales will be lower this year than last, but that is simply because so many buyers sped up their buying decision to meet the tax credit deadline. Pending sales in April were up more than 33% over April 2009. Without the urgency of the tax credit deadline, many April sales might have happened in May and June.
Even without the tax credit, buyers are seeing that price reductions have been much more substantial than the $8,000 or $6,500 offered through the tax credits. It is those price levels that are most meaningful to today's buyers. It is why they continue to be active in the market.
Ribbon Cutting Ceremony for East Bay, site of the new Hands On Children’s Museum
Please join us June 2nd at 4 PM for the ribbon cutting ceremony of the redeveloped East Bay, site for our new Hands On Children’s Museum. The initial site work on Marine Drive is complete and the next steps are ready to go! Anchored by the new Hands On Children's Museum, the East Bay redevelopment is going to be a tremendous gift to our community.
The exciting new Children's Museum will feature six major galleries, with hundreds of hands-on exhibits and great additions such as boat building, water exploration tables and a Tide Pool Touch Tank. Also visit Our Woods gallery with a tree house, multi-level slide and eagle’s nest. You can find inspiring art spaces and an Inventors’ Studio; a Heroes Exhibit gallery with a fire truck, police car, medic one van, and ER, where kids can be a hero every day!
Visit http://www.hocm.org/ for more information on the new facility and the ribbon cutting ceremony!
See you there!
The exciting new Children's Museum will feature six major galleries, with hundreds of hands-on exhibits and great additions such as boat building, water exploration tables and a Tide Pool Touch Tank. Also visit Our Woods gallery with a tree house, multi-level slide and eagle’s nest. You can find inspiring art spaces and an Inventors’ Studio; a Heroes Exhibit gallery with a fire truck, police car, medic one van, and ER, where kids can be a hero every day!
Visit http://www.hocm.org/ for more information on the new facility and the ribbon cutting ceremony!
See you there!
Monday, May 24, 2010
Olympia Farmers Market
Visit our Olympia Farmers Market Thursday through Sunday for top quality fresh organic produce harvested daily, Washington grown fresh apples & fruits, meats, fresh fish, clams & oysters, dried herbs & fresh cut flowers, healthy breads, desserts, eggs, cheeses, milk, jams & jellies. All great quality foods, locally grown plants & flowers, lots of fun art and crafts from local artisans and live entertainment!
Visit http://www.olympiafarmersmarket.com/ for more information.
Visit http://www.olympiafarmersmarket.com/ for more information.
Saturday, May 15, 2010
Tax Credit Extended for Qualified Uniformed Service Members
While the homebuyer tax credits expired at the end of April for most people, qualified members of the uniformed services have another year to put the tax credits to work.
Those service men and women who qualify have until April 30, 2011 to go under contract to purchase a home. They must then close on the home on or before June 30, 2011.
The IRS website has the information regarding the extension and qualifications. See the instructions on IRS Form 5405 so details: http://www.irs.gov/pub/irs-pdf/i5405.pdf. As with any tax matter, it is also advisable to review the details with your accountant or attorney.
View our previous posts in February and March for more information about the $8,000 first-time buyer tax credit and the $6,500 repeat homebuyer tax credit.
Those service men and women who qualify have until April 30, 2011 to go under contract to purchase a home. They must then close on the home on or before June 30, 2011.
The IRS website has the information regarding the extension and qualifications. See the instructions on IRS Form 5405 so details: http://www.irs.gov/pub/irs-pdf/i5405.pdf. As with any tax matter, it is also advisable to review the details with your accountant or attorney.
View our previous posts in February and March for more information about the $8,000 first-time buyer tax credit and the $6,500 repeat homebuyer tax credit.
Thursday, May 6, 2010
April Home Sales Strong
Home sales in Thurston County were very robust in April. Pending sales, which are accepted offers that are not yet closed, were up over 30% from a year ago. The 445 sales for the month of April were the second highest number on record. Only April 2006, the peak year of the overheated market, saw more sales.
While we did not see the tax credit create many new buyers, the deadline for the credit (which expired April 30th) probably did move some buyers to act more quickly. The pending sales figures in May should reveal if the tax credit bumped up the April pending sales.
Still, the primary motivation for most buyers right now is the affordability of homes. The average sales price in April was $242,679. Prices seem to be stabilizing, down just a shade over 1% from April 2009. At the peak, the average price was right around $300,000. As a result, closed sales were also up signifcantly over last year. There were 255 closed sales in the month, a 33.5% jump from April 2009.
While we did not see the tax credit create many new buyers, the deadline for the credit (which expired April 30th) probably did move some buyers to act more quickly. The pending sales figures in May should reveal if the tax credit bumped up the April pending sales.
Still, the primary motivation for most buyers right now is the affordability of homes. The average sales price in April was $242,679. Prices seem to be stabilizing, down just a shade over 1% from April 2009. At the peak, the average price was right around $300,000. As a result, closed sales were also up signifcantly over last year. There were 255 closed sales in the month, a 33.5% jump from April 2009.
Monday, May 3, 2010
Recouping Remodeling Costs
Spring is a time of renewal. It is also the time many people think about remodeling.
Remodeling a home can be a great way to get the space you need. However, often times a remodel project does not pay when it comes time to sell your home. As Chart 1 shows, it is rare that the cost of a remodel is recouped at sale time. Yet, if market conditions are right for your type of house it may well pay to remodel.
For many people, a remodel is more than a pure financial investment - it is also an investment in the way you live. If you are thinking of a remodel, I’d be happy to discuss your plans with you. This way you will know if remodeling makes good sense for you in today’s real estate market.
For more information on this topic visit: http://www.realtor.org/rmohome_and_design/Articles/1001_costvsvalue_2009
Click image to enlarge.
Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.
Remodeling a home can be a great way to get the space you need. However, often times a remodel project does not pay when it comes time to sell your home. As Chart 1 shows, it is rare that the cost of a remodel is recouped at sale time. Yet, if market conditions are right for your type of house it may well pay to remodel.
For many people, a remodel is more than a pure financial investment - it is also an investment in the way you live. If you are thinking of a remodel, I’d be happy to discuss your plans with you. This way you will know if remodeling makes good sense for you in today’s real estate market.
For more information on this topic visit: http://www.realtor.org/rmohome_and_design/Articles/1001_costvsvalue_2009
Click image to enlarge.Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.
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