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					Real Estate In Seattle, Bellevue,
Tacoma, Olympia




Seattle Neighborhoods - Safe & Friendly




Time To Buy?
“The oldest and strongest emotion in mankind is fear.” - H.P. Lovecraft

    If you watch only national news of financial turmoil and declining housing
prices you may fear now is not the time to buy a home. While that may be the
case in other states, it’s not an accurate picture of the market in Washington.
Greater Seattle has a unique set of positive economic variables that sets us
apart from much of the country.
  As the financial regulator responsible for overseeing the financial safety and
soundness of our state-chartered banks and credit unions, the Department of
Financial Institutions stays in close touch with local real estate market condi-
tions. This message is prompted by that “local knowledge” and a concern that
the true nature of the Greater Seattle real estate market has been lost among
the national headlines.
    Is it a great time for everyone here to buy a home? No. However, we can
truthfully say this may be a great time for you to buy.
     There are many reasons for optimism. Long-term mortgage rates are in
historically low ranges and, contrary to what you may think, our state’s banks,
credit unions, consumer loan companies and mortgage brokers have money
available for buyers with reasonably good credit.
    Also, Congress acted to expand a number of home loan programs. Wash-
ington’s financial institutions have a strong presence in your communities and
have excellent financing options for home buyers, including great programs for
first time homebuyers. With the addition of expanded FHA guidelines, they can
meet a variety of different borrower needs.                                         Time to Buy?
   Additionally, there is a good selection of new and existing homes available on   Mortgage Payment Calculator
the market right now. Reports of plummeting home values are almost always           Home Values Comparison
coming from markets far from Washington State. Home values have declined            Cities Comparison
less sharply, here with some micro-markets experiencing no decline at all.          Mortgage Basics
   Perhaps the most important factor to consider is the reality that the Greater
                                                                                    Renting & Leasing
Seattle economy continues to outperform the national economy.
                                                                                    Condo Values


nwnewcomer.com                                                                                                    |   27
            Dan Edwards Realtor® - Your NW Home reSource




                                                                           At Northstone Real Estate, Inc.
                                                                           we listen to our clients, not
                                                                           simply fitting them into a
                                                                           marketplace array of choices
                                                                           but rather moving along side
                                                                           them and focusing on their
                                                                           expressed dreams and visions.
                                                                                                                   Shopping For A New Home
          As a comprehensive Real Estate Professional I am committed to quality and excellence in all I
          do. I work my business 100% through referrals and my years of experience as a small business
          owner translate into my very focused attention to my client’s needs for active listening, pinpoint
          expertise and timely scheduling. I love providing in-depth service and detailed planning for all         ington State Department of Financial in-
          of my clients and I enjoy working with both buyers and sellers, whether they are first timers,           stitutions, the Washington State Housing
          move up buyers or investor clients. I make thoughtful, concerted efforts to continually improve          Finance Commission, our state’s financial
          the level of service I provide to my clients like you because in my business the most profound           institutions, mortgage brokers, REAL-
          acknowledgement I gain is your respect and your trust. I pride myself on working hard to                 TORS®, and your local home builders
          represent my clients with polish, persistence and passion.
                                                                                                                   association are among the organizations
              Serving King, Pierce and Snohomish Counties                                                          providing valuable information to assist
                                                                                                                   you with your home purchase decision.
                          Office: (425) 837-4700 • Cell: (206) 818-8816
                                                                                                                        Free State of Washington-sponsored
                                                                                                                   pre-purchase counseling is available to
                www.danedwardsrealtor.com
                                                                                                                   Washington residents thinking of buying
               www.yournwhomeresource.com
                                                                                                                   a home or considering refinancing. To
            495 NW Gilman Blvd, Suite 2 Issaquah, WA 98027                                                         speak with a counselor, call the Washing-
                                                                                                                   ton Homeownership Information Hotline
                                                                                                                   at 1.877.894.HOME (1.877.894.4663) or
        If you want to buy a home, expect to                 home NOW may be the time to buy and                   find a participating counselor near you
     live in it for at least three years. If the             be comfortable in your new home. De-                  at www.homeownership.wa.gov. You can
     only reason you are hesitant to buy now                 pending on your personal financial situa-             also visit www.dfi.wa.gov/consumers/
     is an expectation that you are likely to                tion, this could be an opportune time to              homeownership and www.wshfc.org to
     get the same home for considerably less                 contact a Washington State REALTOR®,                  educate yourself about mortgages and
     money if you wait a few months, you                     or home builder to help you find that per-            homeownership and find links to other
     may want to reconsider. Very few of us                  fect home and a Washington State finan-               homebuyer resources.
     are lucky enough to pick the bottom of a                cial institution or mortgage broker to as-                Press release courtesy of Washington
     stock market downturn — and that also                   sist with your financing.                             State Department of Financial Institu-
     holds true for the housing market.                         There are many resources available to              tions, dated June 27, 2008 by Scott
       For many buyers looking for that perfect              assist you with your decision. The Wash-              Jarvis, Director.



                                                 MORTGAGE PAYMENT CALCULATOR - at 100% Financing

                     Home Price
          Interest   100,000    150,000    200,000    250,000    300,000     350,000    400,000    450,000     500,000   550,000    600,000   700,000   800,000
          Rate
          5.50%      600.98     901.48     1201.97    1502.46    1802.95     2103.44    2403.95    2704.43     3004.92   3305.41    3605.90   4206.89   4807.87

          5.75%      613.61     920.42     1227.22    1534.03    1840.83     2147.64    2454.44    2761.25     3068.06   33.74.86   3681.76   4295.28   4908.89
          6.00%      626.39     939.59     1252.79    1565.98    1879.18     2192.38    2505.57    2818.77     3131.97   3445.16    3758.36   4384.75   5011.15
          6.25%      639.33     958.99     1278.65    1598.32    1917.98     2237.64    2557.31    2876.97     3196.63   3516.30    3835.96   4475.29   5114.61

          6.50%      652.41     978.61     1304.81    1631.02    1957.22     2283.43    2609.63    2935.83     3262.04   3588.24    3914.44   4566.85   5219.26

          6.75%      665.63     998.45     1331.26    1664.08    1996.89     2329.71    2662.53    2995.34     3328.16   3660.97    3993.79   4659.42   5325.05

          7.00%      678.99     1018.49    1357.99    1697.49    2036.98     2376.48    2715.98    3055.48     3394.97   3734.47    4073.97   4752.96   5431.96

          7.25%      692.49     1038.74    1384.99    1731.23    2077.48     2423.73    2769.98    3116.22     3462.47   3808.72    4154.96   4847.46   5539.95




28    |                                                                                                                               nwnewcomer.com
  Seattle, Bellevue, Tacoma, Olympia Home Value 5 Yr Chart
   NEIGHBORHOOD             Area     Avg Sq Ft   Value 2008   Value 2007   Value 2006   Value 2005   Value 2004
   KING COUNTY
   Admiral                  S Sea    1590        541k         520k         480k         420k         370k
   Alki                     S Sea    1590        527k         515k         480k         410k         360k
   Arbor Heights            S Sea    1440        392k         420k         365k         320k         277k
   Atlantic                 S Sea    1389        370k         370k         327k         265k         250k
   Auburn                   S King   1747        302k         320k         290k         240k         210k
   Ballard                  N Sea    1170        399k         470k         438k         387k         335k
   Ballard East             N Sea    1390        475k         465k         430k         380k         320k
   Ballard West             N Sea    1310        400k         475k         440k         400k         335k
   Beacon Hill North        S Sea    1430        374k         380k         455k         300k         250k
   Beacon Hill South        S Sea    1510        365k         365k         340k         280k         250k
   Bitter Lake              N Sea    1450        354k         378k         345k         300k         260k
   Black Diamond            S King   2000        405k         418k         395k         380k         370k
   Blue Ridge               N Sea    2160        620k         575k         530k         470k         420k
   Briarcliff               N Sea    2190        809k         825k         780k         650k         600k
   Brighton                 S King   1550        346k         349k         300k         255k         222k
   Broadmoor                N Sea    3220        1874k        1700k        1600k        1500k        1380k
   Broadview                N Sea    1880        484k         430k         400k         355k         310k
   Broadway                 N Sea    970         406k         395k         360k         305k         275k
   Bryant                   N Sea    1510        556k         515k         480k         410k         375k
   Burien North             S King   1550        336k         340k         300k         255k         230k
   Capitol Hill             N Sea    2140        689k         500k         452k         399k         352k
   Cascade                  N Sea    1250        465k         438k         400k         330k         290k
   Cedar Park               N Sea    1870        510k         525k         480k         410k         355k
   Central Area             N Sea    1500        454k         445k         415k         350k         305k
   Columbia City            S Sea    1460        386k         362k         330k         270k         244k
   Covington                S King   1640        294k         315k         280k         235k         220k
   Crown Hill               N Sea    1370        408k         402k         380k         322k         283k
   Delridge North           S Sea    1210        440k         450k         410k         350k         310k
   Delridge South           S Sea    1160        293k         315k         275k         240k         210k
   Denny Blaine             S Sea    2830        1553k        1500k        1390k        1212k        1005k
   Denny Triangle           S Core   820         490k         400k         255k         240k         200k
   Des Moines               S King   1500        293k         323k         280k         240k         220k
   Downtown Seattle         S Core   1460        441k         450k         410k         355k         315k
   Dunlap                   S Sea    1460        307k         340k         285k         250k         210k
   Eastlake                 S Core   1108        480k         458k         450k         350k         325k
   Enumclaw                 S King   1710        334k         345k         315k         260k         230k
   Enumclaw Plateau         S King   1980        420k         448k         415k         405k         390k
   Fairmount Park           S Sea    1460        419k         425k         395k         340k         286k
   Fairwood                 S King   1730        320k         335k         315k         300k         280k
   Fauntleroy               S Sea    1570        512k         550k         500k         435k         375k
   Federal Way              S King   1710        291k         320k         280k         240k         210k
   First Hill               S Core   687         347k         355k         310k         280k         260k
   Fremont                  N Sea    1440        490k         495k         460k         385k         342k
   Garfield                 E Sea    1440        436k         434k         400k         337k         290k
   Genesee                  S Sea    1400        417k         415k         380k         320k         285k
   Georgetown               S Sea    1210        310k         315k         300k         225k         205k
   Green Lake               N Sea    1550        534k         545k         500k         430k         390k
   Greenwood                N Sea    1390        395k         407k         380k         322k         285k
   Haller Lake              N Sea    1450        382k         364k         335k         290k         260k
   Hawthorne Hills          N Sea    2090        820k         685k         610k         525k         455k
   High Point               S Sea    1460        355k         348k         315k         260k         225k
   Highland Park            S Sea    1240        303k         325k         285k         245k         210k
   Hillman City             S Sea    1340        341k         345k         310k         252k         224k
   Hobart                   S King   2000        420k         418k         390k         370k         340k
   Holly Park               S Sea    1460        339k         360k         310k         280k         246k
   Interbay                 S Core   1192        407k         440k         405k         350k         300k
   International District   S Core   618         301k         320k         250k         225k         270k
   Jackson Place            S Core   1392        390k         395k         345k         328k         260k
   Jovita                   S King   1810        330k         349k         325k         305k         275k
   Judkins Park             S Core   1322        383k         387k         350k         295k         260k
   Junction                 S Sea    1460        447k         435k         425k         360k         310k
   Kent                     S King   1770        311k         340k         300k         255k         230k
   Kent S.I.R.              S King   2140        340k         352k         335k         315k         298k
   Kent Suburbs             S King   1990        405k         420k         400k         385k         370k
   Kent West                S King   1550        280k         291k         275k         260k         250k
   Kentridge                S King   1840        335k         340k         320k         305k         290k
   Lake City                N King   1560        380k         392k         375k         360k         355k
   Lake Forest Park         N King   2079        452k         490k         425k         360k         335k



nwnewcomer.com                                                                                                    |   29
         NEIGHBORHOOD          Area     Avg Sq Ft   Value 2008   Value 2007   Value 2006   Value 2005   Value 2004
         Lake Morton           S King   2140        345k         352k         340k         330k         315k
         Lake Youngs           S King   2233        460k         478k         460k         430k         410k
         Lakewood              S Sea    1576        486k         502k         450k         400k         335k
         Laurelhurst           N Sea    2510        987k         930k         870k         750k         675k
         Lawton Park           N Sea    1460        517k         500k         455k         395k         345k
         Leschi                S Core   1750        618k         604k         575k         480k         425k
         Loyal Heights         N Sea    1390        480k         465k         435k         395k         330k
         Madison Park          N Sea    2360        945k         930k         835k         700k         615k
         Madrona               S Core   1830        676k         545k         510k         430k         380k
         Magnolia              N Sea    1870        651k         640k         580k         520k         435k
         Maple Leaf            N Sea    1470        443k         440k         410k         360k         310k
         Maple Valley          S King   1970        360k         390k         315k         280k         255k
         Matthews Beach        N Sea    1870        509k         518k         482k         418k         355k
         Meadowbrook           N Sea    1610        437k         430k         390k         342k         300k
         Meridian              S King   1850        330k         335k         320k         305k         290k
         Minor                 S Core   1200        452k         425k         395k         340k         295k
         Montlake              N Sea    2140        717k         752k         725k         620k         560k
         Mount Baker           S Sea    1700        653k         628k         600k         505k         440k
         Normandy Park         S King   2070        475k         490k         472k         455k         435k
         North Beach           N Sea    1970        591k         615k         560k         495k         450k
         North City            N Sea    1380        315k         330k         315k         295k         275k
         North College Park    N Sea    1310        373k         390k         360k         310k         270k
         North Gate            N Sea    1470        331k         320k         275k         245k         220k
         Olympic Hills         N Sea    1460        386k         370k         340k         289k         260k
         Olympic Manor         N Sea    2180        607k         647k         598k         520k         455k
         Pacific               S King   1680        285k         299k         280k         265k         250k
         Panther Lake          S King   1920        350k         360k         335k         305k         285k
         Phinney Ridge         N Sea    1440        521k         500k         470k         415k         355k
         Pinehurst             N Sea    1460        383k         362k         325k         285k         260k
         Pioneer Square        S Core   1249        522k         440k         405k         385k         340k
         Portage Bay           S Core   2150        745k         740k         700k         600k         590k
         Queen Anne Lower      N Sea    1070        449k         425k         385k         320k         280k
         Queen Anne North      N Sea    1775        631k         605k         560k         480k         415k
         Queen Anne West       N Sea    1590        663k         678k         605k         515k         450k
         Rainier Beach         S Sea    1590        353k         355k         300k         290k         240k
         Rainier Valley        S Sea    1430        345k         351k         340k         335k         325k
         Ravenna               N Sea    1570        537k         510k         479k         410k         370k
         Redondo               S King   2100        345k         353k         340k         315k         295k
         Renton Suburbs        S King   1990        415k         420k         405k         390k         380k
         Renton West           S King   1580        305k         320k         310k         290k         270k
         Richmond Beach        N King   2420        550k         562k         540k         510k         480k
         Richmond Highlands    N King   1770        375k         385k         360k         340k         315k
         Riverview             S Sea    1460        338k         350k         315k         240k         223k
         Roanoke               S Core   1670        784k         640k         600k         510k         450k
         Roosevelt             N Sea    1420        476k         495k         452k         400k         355k
         Roxhill               S Sea    1100        328k         342k         310k         275k         240k
         Sand Point            N Sea    1950        651k         660k         560k         465k         410k
         SeaTac                S King   1400        282k         289k         260k         220k         200k
         Seward Park           S Sea    2000        552k         530k         480k         425k         355k
         Sheridan Beach        N Sea    2290        675k         676k         660k         645k         625k
         Shoreline             N Sea    1600        369k         380k         340k         290k         260k
         Shorewood             S Sea    2070        485k         490k         475k         450k         430k
         Skyway                S King   1580        315k         320k         305k         285k         255k
         South Park            S Sea    1210        272k         280k         250k         200k         180k
         Star Lake             S King   1750        295k         308k         285k         260k         250k
         Sunset Hill           N Sea    2160        565k         540k         496k         440k         380k
         Tukwila               S King   1330        283k         295k         260k         223k         190k
         Twin Lakes            S King   1630        275k         285k         260k         240k         220k
         University District   N Sea    1660        530k         525k         485k         405k         360k
         Uptown Seattle        S Core   716         352k         365k         340k         270k         236k
         Victory Heights       N Sea    1420        398k         380k         375k         320k         290k
         View Ridge            N Sea    2290        672k         615k         560k         469k         420k
         Wallingford           N Sea    1540        561k         570k         525k         460k         410k
         Waterfront            S Core   1070        516k         530k         480k         435k         375k
         Wedgwood              N Sea    1570        493k         478k         440k         386k         342k
         Westlake              S Core   1049        434k         440k         370k         330k         282k
         Westwood              S Sea    1240        315k         322k         310k         295k         280k
         White Center          S Sea    1240        300k         321k         308k         293k         275k
         Whittier Heights      N Sea    1360        480k         470k         440k         390k         330k
         Windermere            N Sea    2510        795k         595k         535k         475k         410k
         Woodmont              S King   2100        345k         353k         340k         325k         290k




30   |                                                                                            nwnewcomer.com
   NEIGHBORHOOD         Area       Avg Sq Ft   Value 2008   Value 2007   Value 2006   Value 2005   Value 2004
   EASTSIDE METRO
   Ames Lake            Eastside   2400        560k         574k         560k         540k         515k
   Beaux Arts Village   Eastside   2700        1294k        1050k        997k         750k         675k
   Bellevue North       Eastside   1592        784k         805k         650k         450k         400k
   Bellevue Downtown    Eastside   1410        608k         650k         525k         400k         350k
   Bothell South        Eastside   2030        480k         485k         470k         450k         425k
   Bridal Trails        Eastside   2240        706k         700k         595k         500k         400k
   Carnation            Eastside   1710        355k         365k         345k         320k         305k
   Central Bellevue     Eastside   2170        615k         622k         605k         580k         550k
   Clyde Hill           Eastside   3020        1100k        1375k        1050k        950k         850k
   Coal Creek           Eastside   2770        705k         728k         690k         670k         645k
   Cottage Lake         Eastside   2970        782k         797k         725k         685k         670k
   Crossroads           Eastside   1396        427k         420k         350k         295k         250k
   Duval                Eastside   2000        414k         427k         404k         370k         325k
   Eastgate             Eastside   2520        610k         633k         605k         575k         533k
   Enatai               Eastside   952         282k         280k         240k         200k         176k
   Everest              Eastside   1948        695k         500k         375k         310k         260k
   Factoria             Eastside   1060        299k         295k         245k         200k         169k
   Fall City            Eastside   1710        350k         365k         335k         305k         287k
   Finn Hill            Eastside   1760        395k         415k         380k         360k         349k
   Hidden Valley        Eastside   1500        709k         700k         560k         400k         365k
   Highlands            Eastside   1920        595k         605k         520k         425k         355k
   Hollywood Hill       Eastside   2320        630k         651k         615k         587k         528k
   Houghton             Eastside   2250        740k         720k         650k         550k         480k
   Hunts Point          Eastside   3020        1050k        1375k        950k         850k         790k
   Inglewood            Eastside   2390        605k         664k         615k         570k         530k
   Interlake            Eastside   1940        522k         520k         470k         365k         340k
   Issaquah             Eastside   2040        510k         540k         460k         400k         350k
   Juanita North        Eastside   1237        364k         380k         325k         275k         245k
   Junita South         Eastside   1355        387k         415k         350k         300k         246k
   Kenmore              Eastside   1930        426k         465k         400k         340k         300k
   Kenmore South        Eastside   1760        395k         415k         390k         370k         315k
   Kennydale            Eastside   2360        705k         740k         695k         650k         590k
   Kingsgate            Eastside   1780        405k         425k         390k         360k         305k
   Kirkland Downtown    Eastside   2230        1066k        1100k        900k         790k         640k
   Kirkland East        Eastside   1860        505k         517k         502k         475k         425k
   Lake Hills           Eastside   1740        444k         465k         410k         385k         278k
   Lake Sammamish       Eastside   2390        575k         595k         570k         560k         525k
   Lake View            Eastside   1660        757k         745k         670k         580k         490k
   Lakemont             Eastside   3070        828k         835k         800k         675k         600k
   Lower West Ridge     Eastside   1607        442k         452k         400k         325k         285k
   Maplewood            Eastside   1870        420k         428k         415k         390k         375k
   Medina               Eastside   3020        1150k        1375k        1200k        990k         920k
   Mercer Island        Eastside   2660        954k         900k         880k         720k         620k
   Meydenbauer          Eastside   2120        839k         755k         675k         575k         470k
   Mirrormont           Eastside   2490        560k         580k         570k         523k         490k
   Moss Bay             Eastside   1197        502k         510k         450k         375k         320k
   Newcastle            Eastside   2370        558k         600k         550k         425k         375k
   Newport Hills        Eastside   2040        475k         510k         455k         430k         335k
   Newport Shores       Eastside   2360        790k         910k         805k         710k         650k
   Norkirk              Eastside   1785        678k         675k         590k         465k         410k
   Novelty Hill         Eastside   2400        543k         573k         530k         505k         464k
   Overlake             Eastside   1558        474k         510k         420k         350k         300k
   Phantom Lake         Eastside   2050        522k         545k         575k         400k         340k
   Preston              Eastside   2480        555k         574k         545k         505k         425k
   Queensgate           Eastside   1780        419k         425k         402k         370k         323k
   Redmond              Eastside   2020        525k         540k         460k         375k         340k
   Redmond North        Eastside   2320        639k         651k         640k         575k         505k
   Reinwood Leota       Eastside   2130        658k         675k         625k         525k         475k
   Renton               Eastside   1730        343k         343k         320k         265k         240k
   Renton Highlands     Eastside   1680        330k         370k         335k         295k         265k
   Robinswood           Eastside   1550        442k         455k         400k         340k         280k
   Rose Hill North      Eastside   1690        462k         490k         420k         350k         294k
   Rose Hill South      Eastside   1720        487k         500k         440k         350k         294k
   Sammamish            Eastside   2560        610k         645k         550k         475k         405k
   Sammamish Plateau    Eastside   1560        634k         651k         623k         593k         544k
   Snoqualmie Valley    Eastside   2000        417k         427k         390k         356k         323k
   Snoqualmie West      Eastside   2480        561k         574k         553k         465k         414k
   Somerset             Eastside   2720        694k         720k         635k         530k         500k
   Tam O Shanter        Eastside   2110        553k         565k         505k         400k         355k
   Totem Lake           Eastside   958         244k         240k         180k         150k         134k




nwnewcomer.com                                                                                                  |   31
         NEIGHBORHOOD              Area       Avg Sq Ft   Value 2008   Value 2007   Value 2006   Value 2005   Value 2004
         Upper West Ridge          Eastside   1970        443k         465k         410k         350k         288k
         Vasa                      Eastside   2030        535k         555k         505k         410k         350k
         Wedge                     Eastside   1990        448k         490k         425k         350k         279k
         Wellington East           Eastside   2470        575k         625k         575k         500k         425k
         Wellington West           Eastside   2240        532k         600k         525k         400k         381k
         West Lake Sammamish       Eastside   2890        1236k        1180k        1050k        1000k        825k
         Wilburton                 Eastside   2020        582k         600k         570k         435k         365k
         Woodinville               Eastside   2400        553k         580k         525k         425k         380k
         Woodinville Town Center   Eastside   812         233k         200k         155k         155k         155k
         Woodridge                 Eastside   2010        560k         605k         510k         435k         350k
         Yarrow Point              Eastside   3020        1189k        1375k        1045k        998k         850k

         PIERCE COUNTY
         Bonney Lake               N Pierce   1771        282k         300k         270          220k         185k
         Brookdale                 S Pierce   1561        230k         245k         220k         195k         180k
         Buckley                   N Pierce   2029        319k         345k         313k         287k         254k
         Canyon                    S Pierce   1558        147k         154k         139k         125k         119k
         Dupont                    S Pierce   1548        259k         265k         247k         230k         202k
         Eatonville                S Pierce   1657        260k         275k         255k         222k         201k
         Edgewood                  N Pierce   2092        350k         370k         320k         260k         220k
         Fife                      N Pierce   1710        287k         294k         275k         258k         231k
         Fox Island                S Pierce   1556        438k         457k         435k         390k         375k
         Gig Harbor North          N Pierce   2305        475k         495k         457k         421k         398k
         Gig Harbor South          N Pierce   1881        342k         357k         336k         313k         297k
         Graham                    S Pierce   1741        248k         258k         230k         200k         171k
         Lake Tapps                N Pierce   2247        411k         440k         380k         320k         260k
         Lakebay                   N Pierce   1207        179k         198k         181k         172k         165k
         Lakewood                  S Pierce   1676        253k         265k         242k         202k         178k
         Lakewood East             S Pierce   1368        219k         230k         207k         189k         168k
         Milton                    N Pierce   1305        239k         249k         232k         197k         181k
         Orting                    S Pierce   2563        272k         283k         261k         223k         197k
         Parkland                  S Pierce   1302        199k         207k         188k         169k         162k
         Purdy                     N Pierce   1649        272k         277k         232k         203k         184k
         Puyallup                  N Pierce   1808        265k         282k         250k         215k         190k
         Puyallup East             N Pierce   1519        269k         277k         257k         234k         207k
         Puyallup West             N Pierce   1593        277k         282k         269k         224k         197k
         Roy                       S Pierce   2013        305k         320k         299k         269k         208k
         South Hill North          S Pierce   1669        260k         272k         257k         243k         207k
         South Hill South          S Pierce   1818        269k         280k         257k         229k         201k
         Spanaway                  S Pierce   1600        227k         235k         220k         185k         160k
         Steilacoom                S Pierce   1554        282k         289k         267k         231k         204k
         Sumner                    N Pierce   1530        254k         250k         225k         195k         168k
         Tacoma Central            S Tac      1393        223k         230k         200k         165k         140k
         Tacoma Downtown           Tac Core   1400        265k         265k         220k         200k         158k
         Tacoma Eastside           E Tac      1314        194k         210k         180k         150k         132k
         Tacoma Northeast          NE Tac     1920        334k         360k         320k         270k         238k
         Tacoma Northend           N Tac      1701        313k         325k         300k         260k         220k
         Tacoma South End          S Tac      1354        201k         215k         190k         160k         140k
         Tacoma Westend            W Tac      1604        287k         285k         265k         220k         190k
         University Place East     W Pierce   1695        297k         307k         287k         245k         229k
         University Place West     W Pierce   1970        321k         338k         310k         260k         230k
         Waller                    N Pierce   1562        261k         277k         252k         228k         201k

         SNOHOMISH COUNTY
         Arlington          N Sno             1461        297k         304k         281k         256k         217k
         Bayside            S Sno             1432        261k         280k         240k         200k         178k
         Beverly Park       S Sno             1344        299k         305k         281k         253k         220k
         Bothell North      S Sno             2079        550k         570k         535k         505k         475k
         Bothell West       S Sno             1410        390k         420k         400k         370k         345k
         Boulevard Bluffs   S Sno             2529        566k         560k         510k         475k         380k
         Brier              S Sno             1410        399k         410k         370k         339k         308k
         Cascade View       S Sno             1231        275k         285k         255k         210k         188k
         Casino Corner      S Sno             1288        302k         315k         297k         267k         226k
         Clearview          S Sno             1904        529k         537k         519k         449k         419k
         Darrington         N Sno             1039        159k         172k         165k         149k         142k
         Delta              S Sno             1088        246k         250k         220k         180k         160k
         Edmonds            S Sno             1560        410k         405k         365k         320k         275k
         Everett            S Sno             1401        301k         312k         270k         222k         200k
         Everett Mall South S Sno             1292        298k         295k         270k         220k         210k
         Everett Northwest  S Sno             1401        307k         325k         280k         240k         210k
         Everett South      S Sno             1344        297k         305k         281k         257k         234k




32   |                                                                                                   nwnewcomer.com
   NEIGHBORHOOD          Area      Avg Sq Ft   Value 2008   Value 2007   Value 2006   Value 2005   Value 2004
   Everett West          S Sno     1812        474k         483k         461k         417k         387k
   Evergreen             S Sno     1204        290k         290k         255k         210k         189k
   Fairmount             S Sno     1288        292k         298k         272k         237k         201k
   Glacier View          S Sno     1400        280k         290k         260k         215k         185k
   Gold Bar              S Sno     1076        221k         269k         251k         232k         198k
   Granite Falls         S Sno     1206        231k         266k         243k         197k         176k
   Harborview Seahurst   S Sno     1690        360k         370k         330k         280k         248k
   Holly                 S Sno     1288        276k         280k         245k         200k         180k
   Intercity             S Sno     1288        289k         298k         275k         242k         217k
   Lake Stevens          S Sno     1536        314k         330k         285k         240k         218k
   Lake Stickney         S Sno     1542        379k         390k         361k         310k         267k
   Lowell                S Sno     1386        286k         288k         245k         210k         195k
   Lynnwood              S Sno     1400        345k         348k         310k         260k         230k
   Lynnwood West         S Sno     1494        359k         370k         337k         297k         262k
   Maltby                S Sno     1904        521k         537k         519k         479k         417k
   Martha Lake           S Sno     1632        408k         417k         398k         369k         321k
   Marysville            S Sno     1286        259k         270k         245k         209k         187k
   Mill Creek            S Sno     2199        435k         455k         400k         350k         325k
   Mill Creek South      S Sno     1517        420k         431k         402k         367k         321k
   Monroe                S Sno     1578        323k         345k         290k         240k         220k
   Mountlake Terrace     S Sno     1186        304k         300k         260k         235k         210k
   Mukilteo              S Sno     2009        467k         465k         425k         350k         320k
   Mulilteo North        S Sno     1812        469k         483k         464k         397k         357k
   Norma Beach           S Sno     1536        381k         393k         367k         327k         298k
   North Creek           S Sno     2079        555k         570k         549k         501k         471k
   Osborn Corner         S Sno     2236        404k         420k         391k         367k         321k
   Paine Field           S Sno     1262        292k         302k         277k         221k         201k
   Pinehurst             S Sno     1269        274k         280k         250k         200k         182k
   Port Gardner          S Sno     1487        282k         295k         250k         210k         188k
   Riverside             S Sno     1232        250k         260k         220k         180k         166k
   Silver Lake           S Sno     1636        357k         370k         325k         270k         240k
   Snohomish             S Sno     1868        419k         420k         370k         305k         250k
   Snohomish Valley      S Sno     1461        301k         320k         290k         271k         252k
   South Forest Park     S Sno     1488        293k         320k         280k         220k         193k
   Stanwood              N Sno     1547        321k         339k         317k         297k         267k
   Sultan                S Sno     1161        252k         260k         242k         217k         201k
   Tulalip               S Sno     1195        246k         262k         220k         185k         162k
   Valley View Madison   S Sno     1452        321k         340k         300k         255k         220k
   Westmont              S Sno     1072        225k         200k         190k         180k         162k
   Woodway               S Sno     1503        411k         420k         401k         376k         332k

   THURSTON COUNTY
   Bigelow               N Thurs   1704        269k         260k         245k         205k         185k
   Bigelow Highlands     N Thurs   1248        231k         228k         220k         175k         145k
   Burbank               N Thurs   1562        260k         252k         250k         200k         163k
   Cain Road             N Thurs   2126        317k         310k         310k         250k         215k
   Carlyon               N Thurs   1536        284k         270k         250k         210k         171k
   East Bay Drive        N Thurs   1889        365k         300k         280k         230k         200k
   Fain Park             N Thurs   1310        242k         215k         208k         180k         152k
   Goldcrest             N Thurs   2172        335k         330k         320k         260k         230k
   Governor Stevens      N Thurs   1934        317k         297k         293k         258k         200k
   Indian Creek          N Thurs   1476        248k         232k         222k         184k         157k
   Lacey                 N Thurs   1627        243k         238k         225k         185k         159k
   North East            N Thurs   1410        243k         238k         228k         185k         160k
   Northwest             N Thurs   1371        250k         240k         230k         180k         156k
   Olympia Downtown      N Thurs   1553        263k         260k         247k         205k         185k
   Olympia East          N Thurs   1614        249k         255k         242k         217k         201k
   Olympia Henderson     N Thurs   1630        269k         276k         264k         237k         204k
   Olympia North Budd    N Thurs   1387        237k         246k         229k         207k         187k
   Olympia South         S Thurs   1712        279k         283k         256k         221k         199k
   Olympia Southeast     S Thurs   1506        249k         253k         227k         203k         189k
   Olympia West          N Thurs   1584        273k         282k         260k         237k         217k
   Rainier               E Thurs   1739        231k         240k         223k         201k         187k
   Rochester             S Thurs   1577        227k         235k         209k         181k         164k
   South Capitol         N Thurs   1888        385k         335k         330k         280k         230k
   South Westside        N Thurs   1488        260k         242k         238k         190k         159k
   Tenino                S Thurs   1242        187k         200k         178k         169k         149k
   Tumwater              S Thurs   1630        250k         235k         232k         190k         159k
   Upper Eastside        N Thurs   1242        227k         225k         210k         170k         144k
   Wellington West       N Thurs   1912        306k         290k         284k         238k         210k
   Wildwood              N Thurs   1575        293k         270k         260k         215k         190k
   Yelm                  E Thurs   1550        201k         216k         197k         179k         167k




nwnewcomer.com                                                                                                  |   33
     Pacific Northwest Cities & Towns
     Government           Population    Median   Schools      Typical   Sales Tax   Mkt    Typical       Typical       Typical    Typical   Typical
                                        Age      State Test   Family    % Rate      Temp   House         House         Property   Rent      Commute
                                                 Result       Income                       List          Sale          Tax Rate

     Arlington            15,430        31.6     Above        51,941    8.5         Fire   407,309       296,066       10.4548    836       27 min
     Auburn               48955         34.1     Average      52,008    8.8         Fire   366,800       366,605       12.23645   739       23 min
     Beaux Arts Village   300           49.1     Well Above   110,038   8.8         Cool   599,000       610,700       7.95251    1183      10 min
     Bellevue             121,036       38.2     Well Above   76,976    8.8         Fire   852,171       662,841       7.73807    1192      20 min
     Black Diamond        4,085         35.7     Above        73,038    8.4         Hot    428,466       412,770       10.25804   978       38 min
     Bonney Lake          15,230        33.2     Above        64,820    8.8         Fire   395,954       355,674       13.3838    950       34 min
     Bothell              31,690        36       Well Above   71,973    8.8/8.9     Fire   514,643       413,072       10.47242   1048      24 min
     Brier                6,480         37.4     Above        88,481    8.9         Hot    423,700       434,447       9.5603     1225      31.min
     Buckley              4,535         36.4     Above        66,323    8.4         Hot    357,510       300,127       12.9322    741       33 min
     Burien               31080         38.4     Below        53,814    8.8         Hot    446,069       347,919       11.59312   766       25 min
     Carbonado            666           30.1     Above        55,909    7.8         Cool   237,000       169,000       12.4667    738       30 min
     Carnation            1900          31.6     Above        69,579    8.4         Hot    539,917       523,403       10.07475   932       34 min
     Clyde Hill           2795          44.9     Well Above   150,237   8.8         Warm   1,886,495     1,799,263     7.21797    1950      20 min
     Covington            17240         32.1     Above        65,173    8.4         Hot    350,422       343,102       11.78884   1108      34 min
     Darrington           1,465         38.2     Well Below   44,063    8.5         Warm   215,412       186,994       11.199     685       33 min
     Des Moines           29020         37       Below        57,003    8.8         Hot    537,488       311,898       12.02302   805       27 min
     DuPont               6,610         32       Above        57,202    8.8         Hot    290,184       300,156       10.083     1175      23 min
     Duvall               5735          32.6     Above        78,745    8.4         Hot    571,866       463,334       10.69048   829       36 min
     Eatonville           2,385         34.5     Below        53,730    7.8         Hot    296,932       273,653       9.5309     741       36 min
     Edgewood             9,510         39.3     Above        64,174    8.8         Warm   524,197       478,956       12.8847    820       26 min
     Edmonds              40,360        42       Above        68,803    8.9         Fire   615,676       438,529       10.0529    879       28 min
     Enumclaw             11,500        35.1     Average      62,339    8.4         Hot    570,644       375,043       10.27412   767       34 min
     Everett              101,100       32.2     Below        46,743    8.6         Fire   383,378       314,678       11.9989    787       27 min
     Fall City (uninc.)   5,237         39.5     Well Above   75,690    8.4         Fire   355,500       315,300                  900       27 min
     Federal Way          86,530        32.5     Above        56,259    8.8         Fire   327,430       291,034       11.38107   837       30 min
     Fife                 6,135         29.4     Above        36,250    8.8         Warm   342,477       278,505       12.68      683       25 min
     Fircrest             6,260         41.8     Below        61,611    8.8         Warm   354,168       357,168       13.4424    803       24 min
     Gig Harbor           6,765         44.6     Well Above   67,299    8.4         Fire   490,702       424,336       10.5705    895       30 min
     Gold Bar             2,125         30.6     Average      49,489    8.5         Hot    237,812       247,238       12.0865    800       46 min
     Granite Falls        3,095         29.9     Below        56,194    8.5         Hot    271,264       227,417       13.0782    772       37 min
     Hunts Point          480           44.9     Well Above   200,001   8.8         Cool   3-5,000,000   3-5,000,000   6.49739    1288      20 min
     Index                155           39.5     Average      42,351    8.5         Cool   193,448       179,825       8.8238     693       31 min
     Issaquah             19570         37       Well Above   88,962    8.8         Fire   702,950       501,209       9.97719    1273      25 min
     Kenmore              19680         37.5     Well Above   72,696    8.8         Hot    651,900       567,127       11.34833   1150      29 min
     Kent                 86,607        31.8     Average      57,754    8.8         Fire   391,855       350,927       11.8517    824       29 min
     Kirkland             47180         36.1     Well Above   73,395    8.8         Fire   777,955       545,610       8.98991    1072      22 min
     Lacey                34060         34.2     Above        52,911    8.4         Hot    328,352       285,187       13.119     761       25 min
     Lake Forest Park     12770         42.1     Well Above   84,316    8.8         Hot    552,920       460,677       11.38314   1036      27 min
     Lake Stevens         9,650         31.7     Above        68,250    8.5         Fire   476,122       389,409       11.2623    1044      30 min
     Lakewood             60,000        35       Below        51,922    8.8         Fire   342,259       330,824       13.0676    750       25 min
     Lynnwood             35,230        34.9     Above        57,570    8.9         Fire   464,562       409,331       9.6504     841       28 min
     Maple Valley         19140         32.3     Well Above   72,653    8.4         Fire   433,523       397,463       11.66122   923       37 min
     Marysville           32,150        33       Below        55,796    8.5         Fire   388,051       296,212       10.1554    824       27 min
     Medina               2945          42.9     Well Above   149,637   8.8         Warm   3-5,000,000   3-5,000,000   7.47224    1825      20 min
     Mercer Island        21,860        44.3     Well Above   112,349   8.8         Hot    1,557,905     1,178,966     7.49721    1547      20 min
     Mill Creek           17,460        38.6     Above        87,263    8.9         Fire   437,792       417,445       11.0331    994       31 min
     Milton               6490          37.8     Above        61,372    8.8         Hot    380,045       328,659       10.84477   877       28 min
     Monroe               16,170        31.2     Average      55,793    8.5         Fire   411,579       347,983       10.7089    955       31 min
     Mountlake Terrace    20,390        33.5     Average      52,492    8.9         Hot    329,946       299,272       10.1687    933       28 min
     Mukilteo             19,620        36.5     Above        79,487    8.9         Fire   621,485       488,644       10.5281    949       28 min
     Newcastle            9175          36.4     Well Above   67,417    8.8         Hot    836,096       750,584       10.60149   1225      26 min
     Normandy Park        6415          45.5     Below        78,102    8.8         Hot    641,922       608,796       11.25668   950       22 min
     North Bend           4685          34.5     Well Above   73,324    8.4         Fire   515,645       435,070       10.60586   1101      31 min
     Olympia              43,740        35.3     Above        49,283    8.4         Hot    425,658       316,222       13.119     710       21 min
     Orting               5,560         30.2     Below        55,335    8.8         Fire   327,791       285,535       11.0428    785       36 min
     Pacific              5940          30.7     Average      47,694    8.8         Warm   327,791       314,182       13.24      814       28 min
     Puyallup             36,360        34.1     Above        58,991    8.8         Fire   351,443       321,667       13.0193    802       27 min
     Redmond              49890         34       Well Above   81,479    8.8         Fire   657,991       553,959       8.81462    1121      21 min
     Renton               58360         34       Below        61,933    8.8         Fire   456,612       366,689       10.93982   916       28 min
     Roy                  875           34       Average      51,862    7.8         Hot    347,735       242,499       11.9564    829       23 min
     Ruston               746           39.4     Below        54,167    8.8         Cool   360,477       275,642       12.906     769       31 min
     Sammamish            39730         35.3     Well Above   104,356   8.8         Fire   873,547       701,337       10.8621    1221      30 min
     SeaTac               25230         33.9     Below        47,630    8.8         Hot    441,030       285,804       11.18953   755       24 min
     Seattle              578700        35.4     Average      62,195    8.8         Fire   583,243       480,749       9.2796     958       25 min
     Shoreline            53,298        39.3     Above        75,231    8.8         Hot    325,000       312,457       12.02865   1006      27 min
     Skykomish            210           45.9     Average      48,500    8.4         Cool   199,333       182,375       6.78287    725       33 min
     Snohomish (City)     8,920         34.2     Above        67,944    8.5         Fire   506,391       463,849       11.6164    771       29 min
     Snoqualmie           7815          32.1     Above        65,763    8.4         Fire   567,683       520,697       11.2613    913       25 min
     South Prairie        440           32.4     Average      56,250    7.8         Cool   200,000       184,442       13.6144    894       29 min
     Stanwood             4,940         33.9     Above        60,940    8.5         Fire   545,433       356,427       10.7282    752       29 min
     Steilacoom           6,200         38.1     Above        60,815    8.8         Hot    461,524       413,303       11.4744    779       26 min
     Sultan               4,440         32.2     Average      53,892    8.5         Warm   239,970       237,702       11.8571    756       36 min
     Sumner               9,025         35.4     Above        42,602    8.8         Fire   439,380       305,278       12.6581    720       28 min
     Tacoma               199,600       33.9     Below        45,567    8.8         Fire   315,775       277,667       15.0231    681       25 min
     Tukwila              17930         33.4     Well Below   42,442    8.8         Hot    349,804       310,953       13.9304    797       26 min
     Tumwater             13100         36.2     Above        54,156    8.4         Hot    348,366       303,500       11.44      703       19 min
     University Place     31,140        36.5     Well Above   62,810    8.8         Fire   388,827       358,439                  818       26 min
     West Seattle         58709         35       Average      62,195    8.8         Fire   583,243       480,749       9.2796     858       23 min
     Wilkeson             450           35.1     Average      46,875    7.8         Cool   191,789       160,433       12.1992    855       35 min
     Woodinville          10350         35.7     Well Above   88,272    8.8         Fire   807,408       628,894       11.11063   999       26 min
     Woodway              1,165         46.8     Above        109,428   8.9         Warm   1,320,997     1,146,667     9.0022     975       26 min
     Yarrow Point         970           44.8     Well Above   138,721   8.8         Cool   1,995,000     1,796,000     6.79974    1550      20 min
     Snohomish            671800                                        8.9                                            11.2884
     Pierce Co            773500                                        7.8
     King Co              1835300                                       8.9
     Metroplex            3,919,624
     Washington           6,375,600                           53,760
     National             300,000,000                         50,046                                                                        26 min




34   |                                                                                                                       nwnewcomer.com
Mortgage Basics
                                                   An Answer for Your Every Security and Alarm Problem!
   Two types of mortgage instruments are
used in the United States: the mortgage
                                                                      Since 1922
(sometimes called a mortgage deed) and
the deed of trust. In all but a few states, a
                                                           24 Hour Emergency Service
mortgage creates a lien on the title to the
mortgaged property. Foreclosure of that
lien almost always requires a judicial pro-
ceeding declaring the debt to be due and in
default and ordering a sale of the property
to pay the debt.

Deed of Trust
  The deed of trust is a deed by the borrow-            Lockout
er to a trustee for the purposes of securing           Approved
a debt. In most states, it also merely cre-
ates a lien on the title and not a title trans-
fer, regardless of its terms. It differs from
a mortgage in that, in many states, it can
                                                   Custom Designed Systems for Your Personal Needs
be foreclosed by a non-judicial sale held by       • New, Installs, Repairs Bonded Locksmiths
the trustee. It is also possible to foreclose
them through a judicial proceeding.
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   Deeds of trust to secure repayments of          •   Storefront & Mobile Service                 •   Video Surveilance
debts should not be confused with trust in-        •   Alarm Systems & Monitoring                  •   Auto Lockouts & Lock Repair
struments that are sometimes called deeds
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ning. Though there are superficial similari-
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trust to secure repayment of debts do not                                1502 6th Ave, Tacoma, WA 98405
create true trust arrangements.                                            www.locksandalarms.com
Fixed Rate                                                                  WA contractor# SECURLS044BK
    A fixed rate mortgage is a mortgage
where your interest rate does not change,
                                                  Adjustable Rate                                  don Interbank Offered Rate (LIBOR) plus
and your monthly payment does not
                                                    An adjustable rate mortgage (ARM), vari-       a margin set by the lender. Therefore, as
change. There are two main types of fixed
                                                  able rate mortgage or floating rate mort-        with a traditional mortgage, if the LIBOR
rate mortgages, 30 year fixed rate mort-
                                                  gage is a mortgage loan where the inter-         index or other index goes up, the mort-
gage and 15 year fixed rate mortgage.
                                                  est rate on the note is periodically adjusted    gage rate rises with it, only much more
   With a 30 year fixed rate mortgage, your
                                                  based on an index. This is done to ensure        frequently. Nothing we have read indicates
interest rate does not change, your pay-
                                                  a steady margin for the lender, whose own        whether these loans have a rate cap that
ment does not change, and you pay the
                                                  cost of funding will usually be related to the   controls the speed of rate increases or the
loan off in 30 years. Traditionally, this has
                                                  index. Consequently, payments made by            lifetime maximum interest, but given the
been the most popular mortgage when in-
                                                  the borrower may change over time with           low initial rates that first step is bound to
terest rates are low because you can lock
                                                  the changing interest rate (alternatively,       be a doozie. Many do seem to have a pe-
in and secure a low interest rate. The ad-
                                                  the term of the loan may change). This           riod during which the initial “teaser” rate is
vantages are: 1-Lower monthly payments
                                                  is not to be confused with the graduated         fixed. One lender advertises “for up to 60
than a 15 year fixed rate mortgage; 2-In-
                                                  payment mortgage, which offers changing          months.” But “up to” are among the world’s
terest rate does not go up if interest rates
                                                  payment amounts but a fixed interest rate.       best weasel words.
go up; 3-Payment does not go up, it stays
                                                  Adjustable rates transfer part of the inter-          The option part of this loan however
the same for 30 years. The disadvantages
                                                  est rate risk from the lender to the borrow-     comes in the many alternative payments
are: 1-Pay a higher interest rate than a 15
                                                  er. They can be used where unpredictable         that the borrower can make. Most of the
year fixed rate mortgage; 2-Interest rate
                                                  interest rates make fixed rate loans diffi-      option loans allow the borrower to make a
stays the same if interest rates go down.
                                                  cult to obtain. The borrower benefits if the     decision, each and every month, as to the
   With a 15 year fixed rate mortgage, your
                                                  interest rate falls and loses out if interest    payment they will make. A payment based
interest rate does not change, your pay-
                                                  rates rise.                                      on a 30 year amortization table which, if
ment does not change, and you pay the
                                                                                                   made every month, will pay off the mort-
loan off in 15 years. This has been popu-
                                                  Option (Flexible Payments)                       gage, in 30 years of course. A payment
lar among people who are refinancing their
                                                    The option product is an adjustable rate       based on a 15 year amortization table. An
30 year loan. The advantages are: 1-Low-
                                                  mortgage; a caffeine stoked ARM. One of          interest only payment. The principal bal-
er interest rate than a 30 year fixed rate
                                                  the biggest selling points is an incredibly      ance will remain unchanged after the pay-
mortgage; 2-Build up equity in your home
                                                  low initial interest rate, some as low as        ment is applied for that month. The pro-
faster than with a 30 year loan; 3-Inter-
                                                  1 percent. Notice the words “initial rate.”      grams we looked at did not seem to put a
est rate does not go up if interest rates go
                                                  “Teaser rate” is probably more appropriate       limit, at least in their marketing materials,
up; 4-Payment does not go up, it stays the
                                                  and borrowers should enjoy it while they         on the number of months this option could
same for 15 years. The disadvantages are
                                                  can. The option arm mortgage adjusts fre-        be utilized. A partial interest payment in
higher monthly payment than a 30 year
                                                  quently, every few months or even every          which part of the interest is deferred and
fixed rate mortgage.
                                                  month, based on an index such as the Lon-        added to the principal balance (where one
                                                                                                   would assume it also accrues interest.)



nwnewcomer.com                                                                                                                                  |   35
                                                                                                          The Federal Housing Administration of-
       TIME - TESTED EXPERIENCE... SERVICE THAT COUNTS                                                 fers various types of housing loans. These
                                                                                                       include: adjustable rate mortgages, fixed
                                                                                                       rate mortgage loans, energy efficient,
                                                        Trust the McLaughlin Group                     mortgages, graduated payment mortgag-
                                                        Realtor® - Guidance/Integrity...               es, mortgages for condominium units, and
                                                        We are not your average                        growing equity mortgages.
                                                                                                           In order to qualify for an FHA housing
                                                        Realtors.
                                                                                                       loan, applicants must meet certain criteria,
                                                                                                       including employment, credit ratings and
                                                        The McLaughlin Group builds its                income levels. The specific requirements
                                                        business one family at a time.                 are: Steady employment history, at least
                                                                                                       two years with the same employer, Con-
                                                                                                       sistent or increasing income over the past
                                                        Find out what makes us different.              two years, Credit report should be in good
                                                                                                       standing with less than two thirty day late
            • Top 1% both nationally and locally.                                                      payments in the past two years, Any bank-
            • Windermere is the Pacific Northwest’s #1 Real Estate Firm.                               ruptcy on record must be at least two years
                                                                                                       old with good credit for the two consecu-
            • We represent homes in ALL price ranges.                                                  tive years, Any foreclosure must be at least
            • Place your confidence in us.                                                             three years old, Mortgage payment quali-
                                                                                                       fied for must be approximately thirty per-
                           Call or email us today for a free relocation package!                       cent of your total monthly gross income.

                           The McLaughlin Group ABR, CRS, GRI                                          VA Mortgages
                                      Toll Free: 1-866-990-0180                                          A VA loan is a mortgage loan in the United
                                                                                                       States guaranteed by the Veterans Admin-
                                 Web: www.mclaughlingroup.com                                          istration. The loan may be issued by quali-
                                    Email: mgroupsels@aol.com                                          fied lenders. The VA loan was designed to
                                                                                                       offer long-term financing to American vet-
           Janeen McLaughlin                                                       Mike McLaughlin     erans or their surviving spouses (provided
            425.466.7834                                                           425.861-6817        they do not remarry).
                (mobile)                                                            (after hours)        The VA loan allows veterans 100% financ-
                                                                                                       ing without private mortgage insurance or
      SELLING NORTHWEST HOMES & LIFESTYLES FOR OVER 27 YEARS.                                          20% second mortgage. A VA funding fee of
                                                                                                       0 to 3.3% of the loan amount is paid to the
                                                                                                       VA and is allowed to be financed.
     Balloon Mortgages                                 back to you.                                      In a purchase, veterans may borrow up to
        A balloon mortgage can be an excellent             Instead, the bi-weekly mortgage com-        100% of the sales price or reasonable value
     option for many home buyers. A balloon            pany is an intermediary between you and         of the home, whichever is less. In a refi-
     mortgage is usually rather short, with a          your mortgage lender. They automatically        nance, veterans may borrow up to 90% of
     term of five to seven years, but the pay-         debit your checking account every two           reasonable value, where allowed by state
     ment is based on a term of 30 years. They         weeks for half of your mortgage payment,        laws. As of January 1st, 2006, the maxi-
     often have a lower interest rate, and can         then place your funds into a trust account.     mum VA loan amount with no down pay-
     be easier to qualify for than a traditional       Basically, this is just a holding account for   ment is $417,000 and can be as high as
     30 year fixed mortgage. There is, however,        your money. In another two weeks, there         $625,500 in certain high cost areas.
     a risk to consider. At the end of your loan       is another automatic deduction from your            The VA also allows the seller to pay all
     term you will need to pay off your outstand-      checking account, and so on. When your          of the veteran’s closing cost as long as the
     ing balance. This usually means you must          mortgage payment is due, your funds are         cost do not exceed 6% of the sales price of
     refinance, sell your home or convert the          withdrawn from the trust account and for-       the home.
     balloon mortgage to a traditional mortgage        warded to your mortgage lender.
     at the current interest rates.                      Since you are placing funds into the trust    Interest Only
                                                       account faster than your mortgage pay-          An interest-only loan is a loan in which for a
     Biweekly, Bimonthly, Weekly                       ments are due, you eventually accumulate        set term the borrower pays only the inter-
     Payments                                          enough money to make an “extra” pay-            est on the principal balance, with the prin-
         Normally, you make twelve mortgage            ment. The way the cycle works, this occurs      cipal balance unchanged. At the end of the
     payments a year. Since there are fifty            once a year. The extra payment is applied       interest-only term the borrower may enter
     two weeks in a year, a bi-weekly mort-            directly to your principal balance, which       an interest-only mortgage, pay the prin-
     gage equals 26 half-payments a year. The          causes your loan to amortize faster, pay off    cipal, or (with some lenders) convert the
     equivalent would be making thirteen mort-         more quickly and saves you thousands of         loan to a principal and interest payment (or
     gage payments a year instead of twelve.           dollars.                                        amortized) loan at his/her option.
     By applying that extra payment directly to                                                            A five or ten year interest-only period
     the loan balance as a principal reduction,        FHA & FHA Mortgages                             is typical. After this time, the principal bal-
     your loan amortizes more quickly, requiring         The Federal Housing Administration (FHA)      ance is amortized for the remaining term.
     fewer payments.You save money. The ads            is a United States government agency cre-       In other words, if a borrower had a thirty-
     are true.                                         ated as part of the National Housing Act of     year mortgage loan and the first ten years
        Here’s how it actually works. You can-         1934. The goals of this organization are: to    were interest only, at the end of the first
     not simply mail in half a payment every           improve housing standards and conditions;       ten years, the principal balance would
     two weeks to your mortgage lender. Since          to provide an adequate home financing sys-      be amortized for the remaining period of
     they do not accept partial payments for le-       tem through insurance of mortgage loans;        twenty years. The practical result is that
     gal and accounting reasons, the mortgage          and to stabilize the mortgage market.           the early payments (in the interest- only
     company would just mail your half payment                                                         period) are substantially lower than the



36     |                                                                                                                  nwnewcomer.com
later payments. This gives the borrower
more flexibility because they are not forced
to make payments towards principal. In-          Seattle, Bellevue Condo Prices
deed, it also enables a borrower who ex-
pects to increase their salary substantially     NEIGHBORHOOD        AREA       AVG. COST   AVG. SQ FT
over the course of the loan to borrow more
than they would have otherwise been able         Alki                S Sea      325,250     1056
to afford, or investors to generate cash flow    Auburn              S King     180,000     1099
when they might not otherwise be able to.        Ballard             N Sea      293,975     853
During the interest only years of the mort-      Beacon Hill         S Sea      269,950     940
gage, the loan balance will not decrease         Belltown            Sea Dtwn   359,475     803
unless the borrower makes additional pay-        Bellevue East       Eastside   269,500     1084
ments towards principal. Under a conven-         Bellevue West       Eastside   450,000     1152
tional amortizing mortgage, the portion of       Bothell             Eastside   230,000     1069
a payment that represents principal is very      Bothell             S Sno      227,990     1096
small in the early years (the same period        Burien              S King     157,900     928
of time that would be interest only). Inter-     Capitol Hill        Sea Dtwn   295,000     733
est only loans represent a somewhat higher       Central District    E Sea      306,200     897
risk for lenders, and therefore are subject      Crown Hill          N Sea      215,000     925
to a slightly higher interest rate. Combined     Delridge            S Sea      205,500     1014
with little or no down payment, the adjust-      Des Moines          S King     190,000     1067
able rate (ARM) variety of interest only
                                                 Eastgate            Eastside   278,000     1061
mortgages are sometimes indicative of a
                                                 Edmonds             S Sno      227,475     1038
buyer taking on too much risk- especially
                                                 Everett             S Sno      185,000     1039
when that buyer is unlikely to qualify under
                                                 Fairwood            S King     187,000     996
more conservative loan structures.
                                                 Fauntleroy          S Sea      205,500     1014
   Because a homeowner does not build any
                                                 Federal Way         S King     176,475     988
equity in an interest-only loan they may
                                                 First Hill          Sea Dtwn   356,000     863
be adversely affected by prevailing market
                                                 Fremont             N Sea      293,975     853
conditions at the time they are either ready
                                                 Green Lake          N Sea      320,990     810
to sell the house or refinance. They may
                                                 Greenwood           N Sea      215,000     925
find themselves unable to afford the higher
                                                 Inglewood           Eastside   236,245     1029
regularly amortized payments at the end
                                                 Interbay            N Sea      246,995     952
of the interest only period, unable to refi-
nance due to lack of equity and unable to        Issaquah            Eastside   277,500     1101
sell if demand for housing has weakened.         Juanita             Eastside   245,000     980
Due to the speculative aspects of relying        Kenmore             Eastside   230,000     1069
on home appreciation which may or may            Kennydale           Eastside   239,900     1088
not happen, many financial experts such          Kent                S King     238,750     1158
as Suze Orman advise against interest only       Kirkland            Eastside   324,950     1073
loans for which a borrower would not oth-        Lake City           N Sea      208,000     983
erwise qualify for.                              Lake Forest Park    N King     208,000     983
                                                 Lake Union          N Sea      359,475     954
Graduated Payments                               Lea Hill            S King     184,950     1065
     Graduated Payments are repayment            Lynnwood            S Sno      215,750     1084
terms involving gradual increases in the         Madison Park        E Sea      306,200     897
payments on a closed-end obligation. A           Magnolia            N Sea      246,995     952
graduated payment loan typically involves        Medina              Eastside   450,000     1152
negative amortization, and are intended for      Mercer Island       Eastside   361,000     1169
young people who currently have low in-          Mill Creek          S Sno      269,500     1219
come but foresee a greater future income.        Montlake            N Sea      295,000     733
These terms are only offered when banks          Mountlake Terrace   S Sno      215,000     1080
have reason to assume that the borrowers         Mukilteo            S Sno      187,475     942
income will rise during the 10 year loan pe-     Newcastle           Eastside   239,900     1088
riod.                                            Northgate           N Sea      208,000     947
                                                 Overlake            Eastside   210,000     1048
Renting and Leasing                              Queen Anne          N Sea      332,500     875
                                                 Queen Anne Lower    N Sea      332,500     759
   So you’ve decided to move... now what?        Rainier Valley      S Sea      269,950     940
Should you sell the home you have now            Ravenna             N Sea      263,450     875
and buy another in the Northwest? If so, is      Redmond             Eastside   302,400     1258
it better to do that now or after you’ve lived   Renton              S King     205,000     1028
here a while? If waiting a while is better for   Sammamish           Eastside   302,225     1250
your family you still have to have a place       SeaTac              S King     150,500     974
to live. Right? Welcome to the world of          Shoreline           N King     215,000     925
renting & leasing. It may have been years,       Snohomish           S Sno      217,500     1061
back in college or when the kids were little,    Tukwila             S King     150,500     974
since you last rented your primary domicile      Wallingford         N Sea      320,990     810
and the “rules” may have changed some            Wedgewood           N Sea      263,450     875
since then. So, here are a few guidelines        Woodinville         Eastside   209,300     1011
that might help make it easier and safer
for you.



nwnewcomer.com                                                                                           |   37
                                                                                                            credit laws can help you shop for credit,
                                                                                                            apply for it, maintain your credit standing,
                                                                                                            and, if need be, complain about an unfair
                                                         We Serve Sellers & Buyers With A                   deal. This handbook also explains what you
                                                             High Level Of Integrity &                      should look for when using credit, details
                                                                  Commitment.                               that creditors look for before extending
                                                                                                            credit, and reviews the laws’ solutions to
                                                                We Have Agents That Speak                   discriminatory practices that have made it
                                                           Spanish, Korean, Chinese, Vietnamése,            difficult for women and minorities to get
                                                              Russian, Ukrainian, & Tagalog.                credit.

                                                                                                            Establish Your Needs
                                                                                                                Be aware of what you are looking for:
                                                                                                            How many bedrooms? How many baths?
                                                                                                            What are the amenities? Dishwasher?
                                                                                                            Laundry facilities? High speed internet
                                                                                                            hook-up? Can you have pets? What is the
                                                                                                            smoking policy? What utilities are includ-
                                                                                                            ed in the rent? What utilities are not? Is
                                                                                                            there reserved parking? If so, is there an
                                                                                                            additional monthly fee for parking? How
                                                                                                            much visitor parking is available? Is there
                                                                                                            additional storage available? If so, what is
                                                                                                            the monthly fee? By knowing what you are
                                                                                                            looking for ahead of time, and asking these
                                                                                                            and other questions, you’ll save yourself
                                                                                                            and prospective landlords a lot of time.

                                                                                                            Know This Glossary Of
                                                                                                            Common Terms:

                                                                                                            Dwelling Unit: a structure or part of a


                                    253.896.3021
                                                                                                            structure used as a home, residence or
                                                                                                            sleeping place by one or more persons
                                                                                                            maintaining a common household.
                                    www.genesisrealestate.com                                               Single Family Residence: A structure
                                                                                                            used or maintained as a single unit, not-
                                                                                                            withstanding whether it shares one or more
                                                                                                            walls with another unit, if it has direct ac-
                                                            Be Realistic About What You Can                 cess to a street and shares neither heat-
                                                            Afford                                          ing facilities, hot water equipment, not any
                                                               Take into consideration the cost of utili-   other essential facility or service with any
                                                            ties such as electricity, gas, and water as     other dwelling unit.
                                                            well as other needs such as phone, cable        Landlord: The owner, lessor or sublessor of
                                                            TV, internet, etc. Many landlords expect a      a dwelling unit or property of which it is a
                                                            prospective tenant to earn at least 3x the      part, as well as a designated representative
                                                            monthly rent. Also will last month’s rent be    of a landlord.
                                                            required when you sign the rental agree-
                                                                                                            Owner: A person (including business enti-
                                                            ment? How much will the deposit be?
                                                                                                            ties) with legal title to a property or benefi-
                                                                                                            cial ownership and a right to present use
                                                            Check Your Own Credit
                                                                                                            and enjoyment of a property.
                                                               Most landlords will require that you pay
                                                                                                            Tenant: A person entitled to occupy a
                                                            a non-refundable screening fee when ap-
                                                                                                            dwelling unit primarily for living or dwelling
                                                            plying. It is in your best interest to know
                                                                                                            purposes under a rental agreement (would
                                                            what’s on your report before then. It will
                                                            also help you determine if you fit the crite-   include an oral tenancy as well).
                                                            ria required by the landlord, before paying     Month to Month: A month to month agree-
     When a personal touch makes all the difference...      the screening fee. If you already know you      ment is when either party (the tenant or
                                                            won’t meet their criteria, then don’t waste     the landlord) has the right to terminate the
                 come home to Oakwood.                      your money or your time. Checking your          agreement with 20 days notice.
                                                            own credit will also give you a chance to       Term: A term agreement is for a set amount
                                                            clean up any problems or discrepancies on       of time. It may be from 3 months to a year.
      • Spacious studio, 1 and 2 bedroom apartments                                                         After said period, the agreement may turn
                                                            your report before you actually start apply-
      • Washer/dryer in all units                                                                           into a month to month or it may terminate.
                                                            ing for places.
      • Dishwasher                                                                                          Screening fees: A landlord can charge the
                                                              Go to www.annualcreditreport.com where
      • High speed Internet                                 you can obtain a free consumer copy of          prospective tenant fees to cover the costs
      • Business center                                     your credit report once a year. You can         of obtaining background information on the
      • Temporary furnished apartments available            choose to get a copy from all 3 national        prospective tenant. Waiting list and fee: For
                                                            credit bureaus at once or one from each         desirable properties, some people put their
                                                            different bureau every four months dur-         names on a “waiting list” for available units.
                                                            ing a 12 month period. Another informa-         Waiting lists are legal, but prospective ten-
                                                            tion source you might want to check out is      ants may not be charged a fee to place their
                888.789.2804 • oakwood.com                  the Consumer Handbook to Credit Protec-         name on the list.
            938 110th Ave NE • Bellevue, WA 98004           tion Laws by The Federal Reserve at www.        Holding agreement and deposit: Some
                                                            federalreserve.gov/pubs/consumerhdbk.           landlords or managers, rather than having
          312 Second Avenue West • Seattle, WA 98119
                                                            This handbook explains how the consumer         you sign a lease immediately upon accep-


38    |                                                                                                                        nwnewcomer.com
tance, may wait (possibly until move-in day)
to have you sign the actual lease. In such
cases, you may be asked to sign a “holding               Breathtaking Architecture                Bellevue     Sonara:
agreement.” Holding Agreements are per-                 Environmentally Harmonious                             From the Mid $800’s
                                                                                                               425.442.5353
mitted providing that the landlord complies
                                                         Unmatched Craftmanship
with it. Specifically, you must receive a writ-                                              Gig Harbor        Chelsea Park:
ten statement of the conditions under which                                                                    From the Low $600’s
                                                                                                               253.691.2138
the deposit is refundable.
   In most cases this language is found on                                                                     Harbor Crossing:
the application form. To comply with the                                                                       From the High $300’s
                                                                                                               253.678.0010
law, you should receive a copy of the ap-
plication.                                                                                       Issaquah      West Highlands Park:
  If you take occupancy, the holding deposit                                                                   Single Family From the $500’s
                                                                                                               Townhomes From the $200’s
must be credited toward the first month’s                                                                      206.947.9979
rent and/or the security deposit. If you fail
to take occupancy, the landlord can keep                                                                       Belshaye:
                                                                                                               From the Low $700’s
the deposit in accordance with the written                                                                     206.734.8822
agreement.
                                                                                                      Kent     Benchmark:
                                                                                                               From the Mid $300’s
Security or damage or cleaning or pet                                                                          253.640.6078
deposit: Deposits are to protect the land-
lord from any damages or unpaid utilities.                                                                     Medallion:
                                                                                                               From the $400’s
  Deposits may not be “applied” to the last                                                                    253.335.8055
month’s rent. Deposits do not apply to nor-
mal wear and tear. Deposits should only be                                                          Lacey      Campus Highlands:
                                                                                                               From the Mid $400’s
collected after doing a move-in inspection                                                                     360.438.7695
and with checklist signed by both the ten-
ant and the landlord.                                                                      Lake Stevens        Lakeview Park:
                                                                                                               From the Mid $500’s
    The RLTA (Residential Landlord Tenant                                                                      425.322.5411
Act) makes no distinction between security
deposits, damage deposits, key deposits,                                                         Marysville    The Reserve at Aspen:
                                                                                                               From the Mid $600’s
pet deposits, or any other kind of deposit.                                                                    425.948.6215
The term “security deposit” is sufficient to
describe any refundable monies held by the                                                       Mill Creek    Northpointe:
                                                                                                               From the Low $400’s
landlord during your tenancy. In taking a                                                                      425.442.5353
security deposit, the landlord must comply               www.bennetthomes.com
with. The refundable security deposit must
be placed in a trust account separate from
the landlord’s other funds. It should be
identified in the account name as a tenant
trust account. The rental agreement must          US CITIES COMPARISON
include a statement of the bank and branch
at which the deposit is kept. The landlord        The comparison is of a 2,200-square-foot house with 4 bedrooms, 2
may keep the interest generated by the de-
                                                  1/2 bathrooms, a family room and a two-car garage. The neighborhood
posits. On sale or transfer of the property,
the deposit must be transferred to the new        - a more subjective measure - is one “typical for corporate middle-
owner.                                            management transferees”.
   Non-refundable fees (these are not de-
posits): Often charged for cleaning or pets.      State                         City                          Median Home Value
These fees must be specific and written           Washington                    Bellevue                      $763,667
as non-refundable fees in the agreement.          Washington                    Everett                       $349,000
Non-refundable fees cannot be referred to
                                                  Washington                    Olympia                       $340,000
as “deposits.”
   Check Out Neighborhoods: Become fa-            Washington                    Seattle                       $555,839
miliar with the neighborhoods in which you        Washington                    Tacoma                        $375,750
are interested. Drive by during the day and
during the evening to see if it’s an area         Arizona                       Phoenix                       $320,000
where you’d be comfortable. How conve-            California                    Long Beach                    $1,000,442
nient are the things important to you (your       California                    San Diego                     $618,750
child’s school, Starbucks, the bus line)? Is
                                                  California                    San Francisco                 $1,451,250
there adequate street parking?
  Make an appointment and keep it. Some,          Colorado                      Denver                        $400,000
but not all, properties have 24-hour onsite       District of Columbia          Washington                    $808,500
managers. Even for those buildings that           Florida                       Orlando                       $407,000
do, you have to expect the manager to be          Hawaii                        Honolulu                      $843,750
away from the phone taking care of the            Illinois                      Chicago                       $732,333
property. Call ahead of time to schedule an       Michigan                      Detroit                       $248,750
appointment to see the unit that interests
                                                  Nevada                        Las Vegas                     $362,188
you. If you get voice mail or an answering
machine, leave a message with your name           New York                      Long Island                   $640,000
and phone number, and which unit (by ad-          Texas                         Dallas                        $302,198
dress) interests you. Keep in mind that the       Utah                          Salt Lake City                $408,125
manager may not hear your message until
the evening.


nwnewcomer.com                                                                                                                                 |   39

				
DOCUMENT INFO
Description: Calculator Loan Mortgage Seattle Wa document sample