Since it was the last one of this season, it was nice that it was NICE. I’m talking weather; without good weather ArtWalk is not nearly as much fun. Did you arrive by limo? Some people did (not me). We stopped by Max’s World Take Out for dinner and sat down at Hailstone Feed Store/Shell to enjoy our food with music from Hettel Street Blues.

We managed to talk ourselves out of the Confetti Cupcakes that looked SO good. Wandering from place to place, taking in a variety of sounds from Austin Jenke outside the library to the Studebakers at the Senior Center along with generous helpings of art at every turn is my idea of a relaxing, enjoyable evening. Up Front Art Gallery had a reception for a new show plus the usual unusual smorgasbord of offerings.

Across the Street in front of Village Theatre was a delightful, painterly group of portraits by Pepper Peterson.

Village Theatre displayed banners high lighting their upcoming productions. Village Theatre is top notch. I haven’t been to a poor production.

Citizens of Issaquah are enriched by the ArtWalk event on the 1st Friday of each month during the summer.  Sadly summer is over, but art isn’t. ArtEAST is in the process of opening a new Art Center at the former Lewis Hardware Store, planning a grand opening October 29 & 30. ArtEAST invites all who would like to HELP BUILD THE DREAM ! Visit their website at www.arteast.org

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I had not ever been in this home until recently; I knew it would be nice but I was pleasantly surprised as it is not ordinary.  This is a beautiful home with a great view and the interiors were very well thought out both in planning and execution. Two things struck me. There is a beautiful great room with a fabulous kitchen, but also right off the kitchen was another large room that could be used in many ways. Great rooms are great, but also can very quickly get cluttered being the major living space, yet is the area guests always see. This additional room could be the answer for those wanting to be near the core of the home but free to engage in messy stuff such as art, office work, exercise, games, kids play & toy area, etc.

The powder room has a shower but the way it is arranged the room kept the elegant feel that is sometimes lost when a shower hits you in the face as you walk in.

4400 square feet, 3 car garage, air conditioning, built in vacuum, built green, 3 3/4 baths, 4 bedrooms, quality materials and construction, unobstructed view, beautiful sunsets, and more.   Listed at $1,350,000.  Other homes in the Highlands that are equivalent are at a much higher price.

We would welcome the opportunity to show you this home. Call Larry at 206-618-3724   email: larrykcragun@yahoo.com

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Local Animal Rescue Organizations will be there, too. Maybe you will find your next pet!

Below are pictures from 2010 Grange Day

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For our main post on Habitat for Humanity Homes CLICK: http://ihighlands.neighborhoodsundressed.com/2010/08/17/homes-for-four-families-habitat-for-humanity/ . Since the homes are in Issaquah Highlands, I thought it was most appropriate on that blog. Yes, Issaquah Highlands is part of Issaquah!

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What are your favorite Condo Developments In Issaquah? How about near Issaquah? Does Starpoint in Issaquah Highlands or Bentley House on Newport Way come to mind? Those have been two of my favorites. Both of these are unique and very nice. Both are selling at prices way below original prices.

I would like to add another as a favorite, new in close by Bellevue. It has only been on the market a few months and as the market demands, is priced right. I am referring to One Main Street in downtown Old Bellevue.

Here are a few photos:

Old Bellevue is walking distance to Bellevue Square, parks, and shopping.

I love the architecture. Other new downtown Bellevue Condominiums are so high rise you have to deal with a bank of elevators every time you leave your home. One Main Street doesn’t have this problem.

Visit One Main Street if you like quality, style, class, convenience, views, Bellevue lifestyle, shopping, security lock and leave, underground parking, and homes priced right. I’d love to show you this property.

PS: It’s FHA Approved. Oh, and did I say views, some with to die for views are still available. My favorite has a deck the size of the home to enjoy.

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August 6th was an important day for Issaquah and surrounding areas. The last steel beam was put into place for Swedish Hospital’s new facility amid ceremony and applause. We couldn’t attend because of a real estate inspection but I enjoyed this video of the most important moment of the day. It is under 2 minutes long. Used by permission.

As you watch you may wonder why the tree on the beam. It is a continued tradition from Europe from long ago when homes and all other buildings were out of the wood from forest lands. It was attached as the last beam on each building built was put into place.

Before the beam was put into place it was enthusiastically signed by contruction workers, hospital officials, invited dignitaries and guests. Photos by Susan Doupe Photography/Swedish.

 

Swedish Hospital, when completed will be the first hospital built in King County for 25 years. Issaquah and Issaquah Highlands are very thankful for the extension of health care services that will be provided here.  We have experienced first hand excellent Swedish care when Larry had a serious injury to his eye late one evening several years ago. Swedish ER had just opened on Sammamish Road.

For continued current info on the hospital’s progress visit http://swedishissaquah.org . On their website are 10 Things to Know About Issaquah’s New Hospital. One I was delighted to hear was that it will be a resource for the community, with retail shops, conference rooms and even a large commons for special events. It will also have Wi-Fi throughout the the building.  Visit their site to learn more.

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Photo By digitalART2 from Flickr

Attire should reflect the spirit of the event, a Masquerade & Costume Gala. Come in fun or elegant attire of any theme. Masks can be hand held, attached or painted on. What would YOU like to be?  Use your imagination.

Photo By heber F from Flickr

Attendance is for those 21 and older. To reserve your space send $165 per person to the Cougar Mountain Zoo by Visa, Mastercard or Check.

Zoo telephone …………………425-392-6278

Zoo Fax………………………….425-392-1076

Email  RBarfootCMZ@aol.com   For more information their website is www.CougarMountainZoo.org  You can also follow the Zoo on Facebook.

There will be Champagne, Delightful Music, Gourmet Catering, Fine Wine, A Silent Auction and Raffle, Get your picture taken by a Professional Photographer. The Fun Filled Activities will be indoor and outdoors and will include Complimentary Valet Parking and a special Thank You gift from the Zoo.

The Cougar Mountain Zoo has brought us continued fun and excitement with the four incredible tigers, Almos, Taj, Bageerah, and Vitez. The Zoo’s education about endangered species and showing us what the world would not have if we don’t protect them has been invaluable. People don’t appreciate these animals nearly as well as they do when they have the chance to see them in real life.  Help the Zoo help the Cheetahs and have a ball at the same time!  Hope to see you there.

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 Whatever you call him, McNugget, Naples, Nappie or ? He is still alive, still enjoying his reflection in shiny wheels.  McMugget’s tail feathers look like a few are missing, maybe more than a few, but he is happy, healthy and FREE. Still lookin’ good!

Thank you to the person who gave him his very own shiny wheel.

 For previous post about this rooster 1.  http://issaquah.neighborhoodsundressed.com/2007/07/18/the-town-mascot-or-just-a-parking-lot-attendantat-staples-in-issaquah/

2. http://issaquah.neighborhoodsundressed.com/2009/08/21/this-rooster-by-any-name-would-preen-as-sweet/

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Dancing on the Green.

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This photo from Flickr and by kevindooley is significant to what is happening in the home mortgage world. Although interest rates are at an amazing low level  the news is basically very bad news.

As I predicted, mortgage brokerages are virtually dead. Every broker serious about the business has done what we did 2 years ago, merged their operation into a mortgage bank. Now, even most mortgage banks are dead. In Washington State, 80% of the loan officers are no longer loan officers. I am one of them. In my case I chose to focus on the real estate side of our business. I am fortunate to have moved our company into Pinnacle Capitol. These guys will not only survive but they will move forward holding their position as the best option in the market place. My relationship with Pinnacle through this transfer keeps me totally on top of the mortgage business. This is a huge benefit to our real estate practice.

Rules and regulations are changing daily. Almost none of these rules changes are helpful to those who hope real estate can lead us out of this recession. TOUGHER to get a loan is the daily direction. I was saddened to read last week that the Obama administration has adopted the position that not every one should have a home of their own. They were espousing a rental first policy for much of America. What is happening  in government directed regulations clearly demonstrates that is the plan.

Here are a couple of new underwriting changes that illustrate my point. In the past self employed borrowers used the lowest of the average of the last two years income as their income. The exception is if the most recent year was lower you had to use that lower income number. If you were part way through the year you could document the year to date income and average it with the last two years. Now it is different. If your most recent year is significantly lower than two years ago you just cannot qualify for a loan. For example: 2008 income = $600,000 and 2009 income is $120,000. Even though you are purchasing conservatively enough to afford the home you can’t finance it. The drop in income was too steep. Even if you have 800 FICO scores and put 20% down. They now only use the year to date income to disqualify you. In other words no matter how good the last two years were, the year to date better be similar or your loan application will be declined.

Loan officers left the business as it was no longer easy to participate, licensing and testing requirements and costs made it not worth it.

Why are most mortgage banks dead? 1- Their volume is down and they cannot make a profit. Even though the rates are low there aren’t enough loans and loan officers to support the number of lending operations out there. 2- (This is the big reason) Lines of Credit issues. When Kathleen and I had our own company we carried a 3 million dollar line of credit to fund loans in our companies own name. We would sell those loans to a bank within a couple of weeks and replentish our line of credit. All of the mortgage banks function this way. Where in the past there were many warehouse lenders providing these types of credit lines now we have just a very few large banks such as Wells Fargo and Bank of America left that provide this type of funding. When you discover that some of the major mortgage banks in the market are shutting down, or not closing your loan it is likely are result of losing their funding line of credit or have it frozen at a too low an amount to handle the fundings. In fact, if your mortgage bank isn’t worth at least 10 million in liquid assets they are probably soon to be out of business.

I guess to make this more than interesting facts my assesement would be to be aware and take care when you start the mortgage or home buying process. As the big banks survive and the little guys die, the competition for the best rates die too.  Make sure you really qualify before getting your dreams up.

And for Heavens sake don’t plan on playing games with the system. I was saddened that someone who recently came to me for a home purchase thought he could play games. I wanted no part of it. Here is that story. He wanted to purchase, as a veteran he could buy VA, 0 down. The problem was he wanted to purchase in a mixed use development to operate his business. He wasn’t going to live in the new home, just work in it. When I told him he had to live in the home as his primary residence he suggested he could put a cot upstairs and sleep on it occassionally. That is not a definition of Primary Residence. Every response to his remarks that I gave him resulted in this absolutely idiotic statement: “They won’t care, as long as I make the payments, right?” Well I hear he is working with another agent now, perhaps he won’t tell him as much as he told me. The fact is that he was considering committing fraud, I told him so.

They do care about fraud. In fact there are some regulators that brag about the scalps they take.

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Families having fun, young, old, they all come. What better chance than to roll around on the grass or slide down the hill on a piece of cardboard.  You may even spot the next Elvis!

Thanks Mister Miyagi Band. For more info including interesting bio’s on the performers go to www.mistermiyagi.com . You can even book them for a party of your own. Dance on!

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Palace Kitchen – Dungeness Crab and Berkshire Pork Sausage with charred Corn with Mint was my first bite and stayed my favorite bite of the day. Wrapping the long sausage in a coil to grill it was brilliant.

Above Tom Douglas, himself was present, also Anita’s Crepes served up Lemon Sugar Crepes, a flaky crepe topped with chantilly and a dust of powdered sugar. Very delicious. Other favorites were Divine’s Tiropita, filo cheese bite with pear relish and the cold soup at Seattle’s Little Italy.

The rest of the Bite:

More than fifty restaurants from all over Seattle had booths for you to have a Bite. Ever had fried Mac and Cheese?

Some of the areas most talented chefs put on The Bite Cooks, educating the audience with demos and after taking questions from the audience. Food is not the only thing important at the Bite. Live music on several stages constantly changed performances through out the day.

People watching is another sport popular at the Bite as varied as the food offerings.

A whole lot of people were having fun!

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Because of our fun family that was visiting, in just 3 days we went to the Pacific Science Center at Seattle Center, saw dinosaurs (fake), butterflies (real),  played at the International Fountain, Space Needle, the Seattle Aquarium, had birthday parties, went to the Cougar Mountain Zoo, a Mariners game, played soccer, watched paragliders at Poo Poo Point. One afternoon it was so hot we went to a theater to see Despicable Me, sadly their AC was on the blink. Of course, we ate way too much. Extra time at the gym will be neccessary, if we have energy left. Click on the block of photos below to get to the whole set that you can view larger.

Larry having fun or just tired!

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22nd Annual Chocolate, Wine & All That Jazz Event 

Thursday, July 22^nd, 5:30 to 8:00 p.m.

For Immediate Release — Issaquah, WA  The 22^nd annual Chocolate, Wine & All That Jazz event will be taking place on Thursday, July 22^nd at Boehm’s Candies in Issaquah from 5:30 to 8pm and the general public is invited. Join the Greater Issaquah Chamber of Commerce and sample local fare & fresh chocolates while sipping on Washington Wines and Ales from a dozen incredible Issaquah restaurants, wineries, and brewers. After tasting all the samples, enjoy fabulous local jazz from Paul Green’s Blues, private tours of the chocolate factory, & a chance to win fabulous prizes!

Tickets are $35 per person and can be purchased at www.issaquahchamber.com or by calling the Issaquah Chamber office at 425-392-7024. Tickets are only sold in advance in order to assist our purveyors with food and beverage preparations. Limited tickets are available and are selling quickly, so don’t miss your chance before the event is sold out.

Also, don’t forget to wear your walking shoes as some of the pathways are gravel. Participants must be at least 21 years of age. 

For more information, visit the Issaquah Chamber of Commerce’s website at www.issaquahchamber.com, call 425-392-7024 or drop by the office at 155 N.W. Gilman Blvd.

The pictures below are from last years event.

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Being on commission and getting financing are linked directly with two words: history and sustainability.

History is proven by tax returns. You must submit your tax returns for the last two years. There are no exceptions and lenders are pulling comparable data directly from the IRS to keep from being snookered.

Sustainability is considered by how are you doing lately? If 2009 is down significantly you are likely to be declined. Underwriters look at the last two years in a skeptical way as to how it will be going forward.  The current year to date income being good doesn’t help. Lenders don’t trust year to date financial statements. This year does count as you much show that 2010 is in the range of last year.

Lenders are using the lower of your last year or the average of those two years.

If you have unreimbursed business expenses those are deducted from your income for qualifying purposes.

Being on top of the mortgage process is important to me.

I don’t originate loans any more. In the past I have originated hundreds of loans as a loan officer and thousands of loans as an owner of a mortgage company. If you check out my resume, click here you will note that I do keep very on top of the latest that is going on in the mortgage arena.

I learned long ago that knowing financing is an important part of being a good real estate agent. I would be glad to refer you to one of my top loan advisors. I count on those that are the best, that don’t charge high fees, and that deliver on what they promise.

By the way, all of the sellers aren’t suffering. This home sold the day after I showed it to a potential buyer. It was on the market less than a week. It was a nice home, priced to sell.

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