Fall Honey-do's

It's one of my favorite times of the year with the leafs changing color and the MLB playoffs in full swing. But, as the weather heads south on the thermometer, being a responsible home owner means prepping your home for the winter weather. Proper insulation and controlling air leaks will go a long way in reducing energy costs and improve your comfort.

Check out these links for tips on weatherizing/winterizing your home:
http://www.consumertipsreports.org/preparing_your_home_for_winter_weather.html
http://www.energysavers.gov/your_home/insulation_airsealing/index.cfm/mytopic=11220
http://www.cbsnews.com/stories/2002/11/12/earlyshow/living/supersavers/main529051.shtml

Wall Street Journal "10 Reasons To Buy a Home"

Great article on the positives of home ownership. Find it here

Bremerton-Silverdale Tops Moody's Forecast List For Strongest Housing Market By 2014

Click here to see the full list of top 10 housing markets that will be strongest by 2014. Here's a preview-Tacoma is projected to have a 33.1% growth rate.

Big Changes Coming To Housing Finance?

In the next few months federal policy makers will weigh wether there can be too much of a good thing when it come the helping families finance the American Dream. Learn more here from USAToday.com.

FHA Likely To Increase Annual Mortgage Insurance Premium

Last week FHA Commissioner Stevens announced changes to both the Up Front and Annual Mortgage Insurance Premiums charged on FHA loans (letter attached).  The specific changes and their impact are as follows:

1)      The Up Front Mortgage Insurance Premium (“UFMIP”) declines from 2.25% to 1.00%.

In a FHA transaction the UFMIP is typically financed and therefore any reduction in the UFMIP will benefit the borrower from a equity standpoint since the premium amount financed will be lower.

2)      The Annual Mortgage Insurance Premium increases from .55% to .85% or .90%. (to be finalized)

The Annual Mortgage Insurance Premium is expressed as an annual rate and is collected monthly with the mortgage payment.  The dollar amount of Annual Mortgage Insurance Premium is also factored into the total payment when qualifying the borrower.  The increase in the Annual Mortgage Insurance Premium will increase the total monthly cost of the loan and may impact the ability for some borrowers to qualify for a loan due to housing and or total payment ratios exceeding allowable guidelines.

It is important to note that the increase in the Annual Mortgage Insurance Premium will have an effect similar to an increase in interest rates of between .375% to .500%.

The above changes will go into effect for loans with FHA Case Numbers ordered on or after September 7, 2010.  (Note: FHA Case Numbers can only be ordered once a property has been identified).  It is important to understand that if you are looking to buy using FHA financing how the above changes will impact both the initial and ongoing costs and, in some cases, the borrower’s ability to qualify for FHA financing.

More information here at SmartMoney.com.

UPDATE: FHA announced that it will be delaying the rollout of the new MIP changes from September 7, 2010 to October 4, 2010

Best Winter Weather Locations

Seattle tops the Weather Channels list of best winter weather cities for 2009-10. Check out the details here.

Real Life "Up" House Is Having A Hard Time Getting Off The Ground

The 100+ year old bungalow style home previously owned by Edith Macefield, who turned down a $1 Million offer to sell her home to developers in Ballard is running into a few issues reaching new heights. The current owners want to raise the home to be 5 stories tall. To fund the project they are selling tiles between $250 and $1,000 but have had limited interest. The tiles would be displayed in the new building and would feature the purchasers name and credo. "Credo Square" as it is called would be open to the public during business hours and feature many plants and water features. Only a few tiles have been sold so the current owners are looking for additional funding from traditional lending institutions and private investors. Learn more about Edith's story here, the current project here and here.

Would you turn down a $1 Million offer like Edith? What do you think of the current plans for the home? What is your credo?

2010 March Housing Numbers Are Out: Pending Home Sales Up

The Northwest Multiple Listing Service: "Brokers Report Signs of Improvement in “Real-time” Housing Market" Click here to see the full press release.


Here are some key points:
Northwest Multiple Listing Service members reported strong gains in home sales during February, with brokers pointing to several encouraging signs for a busy spring season. Improving consumer confidence and a looming deadline for homebuyer tax credits are helping to boost activity, according to NWMLS officials.


Pending sales (offers made and accepted, but not yet closed) jumped nearly 45 percent last month compared to a year ago, marking the 11th straight month of month-over-month increases. Twelve of the 21 counties in the MLS market area reported double-digit gains in pending sales, led by San Juan County (up 85.7 percent), Snohomish County (up nearly 71 percent) and King County (up nearly 63 percent).

Closed sales also outperformed year-ago totals, rising 33.5 percent. Members tallied 3,214 completed transactions last month, up from the 2,407 closed sales for February 2009.


Prices, while showing signs of stabilizing, still lagged year-ago figures. Area-wide, the median price for last month’s closed sales of single family homes and condominiums (combined) was $260,000, down about 6.5 percent from a year ago. The median price for single family homes (excluding condos) dipped 4.6 percent, while condo prices declined nearly 9 percent.

The report referenced above is for the whole of the NWMLS. Let's take a closer look at Pierce and King Counties shall we? I am a visual guy so I included a few charts.


Pierce County has seen recent increases in listings, sales, pending sales and sales price. But year over year numbers still show lower sales and listing prices keeping homes more affordable.


King County on the other hand has seen a recent increase in listings, sales, pending sales with listing prices still dropping and sales prices holding steady.


As always, if you have any questions or would like a detailed analysis on your home don't hesitate to email or call. Also, if you know someone who would find this information valuable please put them in contact with me. Have a great day!

Forbes: "No Double-Dip For Housing"

There has been many economist that believe the recent gains in the housing market will be followed with another test of the bottom. However, Forbes recently posted an article that makes a good case for a different kind of recovery. I'm more inclined to believe that we will see a small slow down after the expiration of the Tax Credit and then we will start the recovery that this article describes. What do you think?

Easter Egg Hunts And Activities

Although it will be a bit damp this weekend an Easter Egg Hunt is fun for the whole family no matter the weather.


Follow these links to view lists of Easter Egg Hunts in the local area:
Greater Tacoma Area 
Sumner/Bonney Lake
South Hill Mall

Tacoma Summits The Top 5 List for 2010 Markets

Recently SmartMoney.com posted it's Top 5 Best Markets For 2010. Tacoma made the top of the list with Seattle close behind. Great news for the Puget Sound real estate housing market. Several factors went into determining the cities, including the labor market, foreclosure rates, home prices, and the number of adjustable loans that are due to reset in the coming year.

CNNMoney.com also posted a similar forecast list with many Washington cities included.

Hello All

So, I have decided to join the blogging world. First let me tell you a little about myself. I was raised by two loving parents in the Boise, Idaho area. I am truly grateful for my upbringing and all who contributed (it takes a village). Through friends/family I meet the love of my life and I was fortunate that she agreed to marry me. I am definitely the "reacher" and she is the "settler" in our relationship. Soon after getting married we made our roots here in the South Puget Sound area. Specifically, in the small, quaint, quiet town of Sumner and we love it here. We have 4 fantastic children. My, how they grow up fast. As a family we enjoy our time together through many activities including playing games, outdoor activities, sports, movies and much more. Our life is not without its challenges but we push through the best we can.

Over 7 years ago I became a real estate agent. This line of work fits me well because I love to help people, I believe in the value of property ownership and I have that entrepreneurial spirit.

When I was young my friends would refer to me by my middle name "Cooper". This was due to the fact there there were other Matthew's in our close group of friends. Shocking, I know. I have recently incorporated this name into my business. Hence the name of this blog.

Through this blog I hope to provide insight into the housing market in general and specifically in the Puget Sound area as well as who I am and what I provide as a Real Estate Professional. Happy reading!