CLICK TO VIEW LISTING WEBSITE
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Description and Features
Wonderful like new home in Edgewater; this home features 3 large bedrooms, 2.5 baths, with large kitchen bar overlooking dining and living area with gas fire place. Located on a large corner lot with immaculate landscaping, this home sits across from the community playground on a one way cul-de-sac; perfect for first time buyer or investor. All window treatments stay with home, seller reserves fridge. Free home warranty! Minutes to I-5 at Hawks Prairie, 15 min to DuPont and bases.	Bedrooms: 3 Bathrooms: 2.5 Parking Spaces: 2 Square Feet: 1497 Year Built: 2006 Floors: 2 MLS #: 29087624
Location
Click to view map: 7633 Rushmore Way NE Lacey WA 98516
Links
My Website Click Here for More Info Listing Website

 REAL ESTATE POST   Real Estate News and Commentary

Brought to you by Phil Sharp Online.com                                                                                  

MLS Statistics * Housing Market Opinion * Real Estate News

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Have you been following interest rates?  Although still lower than we have ever seen, mortgage rates have gone up in recent weeks.  The article below briefly states my opinion of the turn around in the market and the impact of mortgage interest rates on our local housing market.  Now is the time to figure out how to take advantage of these fantastically low rates, and maybe even own the home of your dreams.

****We are working with a new lender, offering financing to investors and others having difficulty meeting conforming loan standards…See “Investors” Below.

I invite you to visit my Blog, The Thurston County Post (Online), for local links, real estate news, property information, and additional commentary.

Military:  For Information about the Military Homeowner Assistance Program visit  www.hap.usace.mil.

For More information about me please visit my website PhilSharpHomes.com, or call me at 360-970-9977.  

First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009

Q. I plan to build a home and occupy it in 2009. Can I claim the first-time homebuyer credit now and use the funds toward the down payment or other ongoing construction costs?

A. No. To qualify for the first time home buyer credit, the residence must be purchased. By statute, a residence which is constructed by the taxpayer is treated as purchased on the date the taxpayer first occupies the residence. (05/06/09)

Read more at the IRS FAQ page:  IRS First Time Home Buyer Tax Credit Q&A http://www.irs.gov/newsroom/article/0,,id=206293,00.htm

Foreclosure and Short Sale Listings Bank Owned:

Olympia, Lacey, Tumwater:  View Listings

Yelm, Rochester, Tenino:  View Listings

Dupont:  View Listings

Roy:  View Listings

Short Sales:

Olympia, Lacey, Tumwater:  View Listings

Yelm, Rochester, Tenino:  View Listings

Dupont:  View Listings

Roy:  View Listings

For more information about foreclosures and short sales; how to find them, how to evaluate them, and how to buy them…Olympia-HomesOnline.com…www.Olympia-homesonline.com

Phil’s Opinion~Thurston County Real Estate News; Presented by Phil Sharp                                            

Interest Rates….?

Home sellers have enjoyed a much appreciated increase in sales volume this spring, and buyers have been able to take advantage of some great opportunities.  The market has been sporadic, with much of the sales volume being in the lower price ranges, and in other especially well priced properties.  Both groups have found that our market does not compare to some of the more troubled areas of the country; sellers are obtaining buyers offering reasonable prices, and buyers are finding that while there are good deals out there…we are not having a firesale in Thurston and Pierce Counties.  The question is, will the trend continue and what are the risk factors.

The local economy, while feeling the effects of the economic downturn, is fundamentally sound.  In looking at what makes up our ecomony, we have a very strong base.  As I have discussed before, the federal and local governments, coupled with the relocation to the area and growth of large business concerns, should provide a healthy environment for economic recovery.  

And now….Interest Rates.  The economic stimulous efforts of the fed seem to have had the desired effect on South Sound housing markets.  Seasonal cycles aside, the availability of cheap money is the number one factor in bringing home buyers off of the sidelines.  This is a fantastic time to buy, refinance, move up or trade up.  Locking in a 30 year mortgage today will save you thousands and thousands of dollars over rates of a year ago….and probably of a year from now.

The question is, how long will rates remain low…and can you afford to miss what may be the opportunity of a lifetime to own a home, own a better home, or re-fi to reduce your payments by hundreds of dollars.  Interest rates have gone up in recent weeks, from increadably low to very low, and may even go up a little more.  Increase in demand (and eligability) has caused the increase, which most consider to be within the realm normal market fluctuation.  The numbers to watch are fed and bank rates, which have not gone up, and probably won’t for some time.  If you are trying to time this, watch the economic reports for inflation indicators, fed and bank rate increases.  Remember though, timing any market is only for those with supernatural powers.  

If you have been considering a move to a new home, a move up, or a lateral move, don’t wait too long.  This economy, these interest rates, and these home prices won’t last forever.

To Read More Commentary by Phil and Others, Please Visit the Thurston County Post; A Local Real Estate and Home Ownership Blog

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The Numbers

THURSTON COUNTY

For The Period of May 1-31 2009

Â	May 1 -	April	New	Â	New
Active	May 31	2009	Const	Resale	Const %
Thurston County	1637	1582	383	1254	30%
Lacey	168	164	49	119	41%
Hawks Prairie	297	273	88	209	42%
Olympia	347	330	50	297	17%
Tumwater	153	151	65	88	74%
Yelm	296	293	77	219	35%

Pending	May 1 -	April	YTD	YTD	Â
Sales	May 31	2009	2009	2008	% Change
Thurston County	401	334	1616	1610	1.0%
Lacey	72	60	274	274	0%
Hawks Prairie	66	72	332	304	1.09%
Olympia	101	70	338	301	1.12%
Tumwater	44	41	162	158	1.03%
Yelm	61	43	248	301	-18%

Â	May 1 -	April	YTD	YTD	Â
Sold	May 31	2009	2009	2008	% Change
Thurston County	210	191	934	1222	-24%
Lacey	35	32	154	217	-29%
Hawks Prairie	42	31	100	138	-28%
Olympia	61	32	198	246	-20%
Tumwater	16	21	80	133	-40%
Yelm	26	37	143	189	-24%

Â	Average Time On	Average Time On
Area	Market YTD 09	Market YTD 08
Thurston County	113	101
Lacey	116	96
Hawks Prairie	168	143
Olympia	514	452
Tumwater	144	97
Yelm	88	87

Â	Average Home Sale	Average Home Sale
Area	Price May 09	Price May 08
Thurston County	$275,512	$297,341
Lacey	$233,694	$248,200
Hawks Prairie	$277,906	$333,963
Olympia	$324,099	$342,974
Tumwater	$306,225	$316,180
Yelm	$204,002	$256,840

Â	Median Home Sale	Median Home Sale
Area	Price May 09	Price May 08
Thurston County	$249,925	$265,250
Lacey	$230,000	$245,350
Hawks Prairie	$256,897	$278,065
Olympia	$298,690	$323,583
Tumwater	$307,450	$306,000
Yelm	$206,739	$230,835

·          Data prepared by Phil Sharp, provided by NWMLS

MARKET SNAPSHOT:  To receive an email report on the value of your home and other homes in your neighborhood, recent sales and sales statistics…..CLICK> Custom Market Snapshot

IF YOU WOULD LIKE DETAILED INFORMATION ABOUT A SPECIFIC PROPERTY TYPE OR NEIGHBORHOOD, PLEASE CALL ME AT (360) 970-9977 or Email.

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Investors

• Check out this Lender!!  I recently met with George Holcombe, VP at PC bank.  His organization is offering purchase money loans to investors as well as owner occupants who can qualify but are having difficulty with conforming loan standards and limits.  George can be reached at  ,  I will be sending out more specifics about this lender and others in a seperate email.

• Yes, interest rates have trended up….But rates are still incredible

• It is a buyers market…but well priced homes are bringing multiple offers, and won’t wait for you to sleep on it.

• After rising dramatically last fall and winter, rental rates have stabilized.  Look for increases again late in the summer as seasonal demand picks …Residential rentals actually pencil again

• Get ready for commercial opportunities…the next phase of the cycle

• Look hard at best future use, conversions to commercial or MF, future development and subdivision opportunities

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   Industry News

Click the Links for News Stories:

Obama administration to expand housing program

This link to Inman News is Provided For Your Convenience; Inman News Does Not Provide Content For This News letter.  

To Read More Commentary by Phil and Others, Please Visit the Thurston County Post; A Local Real Estate and Home Ownership Blog

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www.PhilSharpHomes.com     www.FortLewisAgent.com    www.FortLewisHomesForSale.com    www.YelmPropertySales.com    www.LaceyPropertySales.com    www.OlympiaPropertySales.com    www.Olympia-HomesOnline.com    www.PhilSharpOnline.com

All commentary presented herein was authored by Phil Sharp, and expresses his opinion; unauthorized reproduction prohibited.

 

First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009

From www.IRS.gov

Q. Is the IRS currently accepting e-filed returns that claim the new $8,000 homebuyer credit in/for the 2008 tax year? A. Yes. Taxpayers can file Form 5405, First Time Homebuyer Credit, electronically for home purchases in 2008 to claim the first-time homebuyer credit. IRS began processing these returns electronically on March 30, 2009. Q. I plan to build a home and occupy it in 2009. Can I claim the first-time homebuyer credit now and use the funds toward the down payment or other ongoing construction costs? A. No. To qualify for the first time home buyer credit, the residence must be purchased. By statute, a residence which is constructed by the taxpayer is treated as purchased on the date the taxpayer first occupies the residence. (05/06/09) Q. I bought my home in 2009 (early) and filed my 2008 tax return claiming the $7,500 first-time homebuyer credit that has to be repaid. Now the expanded law provides for an $8,000 credit that doesn’t have to be repaid. What do I need to do to get the $8,000 credit that doesn’t have to be paid back? A. You can file an amended return. Q. If I purchase a home in June 2009, and have already filed my 2008 tax return, can I amend my 2008 return or will I have to claim it on my 2009 return?   A. You can either file an amended return to claim it on your 2008 return or claim it on your 2009 return. Q. I am in the process of buying a home. I expect to close the deal before December 1, 2009. Can I claim the first-time homebuyer credit now? That would allow me to use the refund for a down payment. A. No. You may not claim the credit in anticipation of a purchase that has yet to happen. Until you have finalized the purchase of your home, which for most purchasers occurs at the time of the closing, you do not qualify for the credit.  IRS news release 2009-27, First-Time Homebuyers Have Several Options to Maximize New Tax Credit, contains details for filing options if the home is purchased after April 15, 2009. Q: When must I pay back the credit for the home I purchased in 2009? A:  Generally, there is no requirement to pay back the credit for a principal residence purchased in 2009. The obligation to repay the credit on a home purchased in 2009 arises only if the home ceases to be your principal residence within 36 months from the date of purchase. The full amount of the credit received becomes due on the return for the year the home ceased being your principal residence. Q. If I claim the first-time homebuyer credit for a purchase in 2009 and stop using the property as my principal residence before the 36 month period expires after I purchase, how is the credit repaid and how long would I have to repay it? A. If, within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full amount of the credit is due at that time the income tax return for the year the home ceased to be your principal residence is due. The full amount of the credit is reflected as additional tax on that year’s tax return. Form 5405 and its instructions will be revised for tax year 2009 to include information about repayment of the credit. Related Items: First-Time Homebuyer Credit Questions and Answers: Basic Information First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2008 First-Time Homebuyer Credit: Scenarios First-Time Homebuyer Credit These FAQ’s were taken from the IRS website.  This link will take you to the IRS official website… First Time Homebuyer Information.

CLICK TO VIEW LISTING WEBSITE
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Description and Features
5.7 acre private park in Tumwater? This fantastic home is located at the end of a private drive in Tumwater, with a huge well maintained yard, fruit trees, and outbuildings. Interior features include 3 fireplaces, double French doors onto patio, and sky lights everywhere; check out the second kitchen, bath and private access to the lower level when you visit. Nature lovers will be thrilled with the woodlands and abundant wildlife just out the back door. FREE AHS Home Warranty!	Bedrooms: 3 Bathrooms: 2.5 Parking Spaces: 1 Square Feet: 2236 Lot Size: 5.720 Year Built: 1967 Floors: 2 MLS #: 29080193
Location
Click to view map: 6525 Lazy Lane SW Tumwater WA 98512
Links
For More Info Click Here Listing Website