Methow Valley Weekly Market Update
Below is the Methow Valley real estate market report link for the last 7 days. An easy way to stay on top of the changes in real estate market in the Methow.
http://www.matrix.nwmls.com/DE.asp?ID=5158473864

This Weeks Bank Owned Properties
For bank owned properties the national average for sales price reductions is about 30% below market value.  See the link below for the bank owned Methow Valley properties.
http://www.matrix.nwmls.com/DE.asp?ID=5169350114

Greetings from Mazama and Twisp,


http://water.weather.gov/ahps2/hydrograph.php?wfo=otx&gage=patw1

QUOTE OF THE WEEK
Denial ain't just a river in Egypt.
Mark Twain

The Methow River is what's up in the Methow these days. The Methow River will likely crest this week between Wednesday and Thursday. Currently, it's running just under flood stage (10') fast and cold and is nothing to mess with unless you are running Black Canyon with a experienced guide. Black Canyon at almost 9 feet will make you wet, guaranteed.

About a 100 years ago I owned a property on the river near Winthrop. At the time the Mayor of Twisp was Warren Badger. Well, Warren was interviewed by the Methow Valley News one spring and was quoted as saying the conditions are just like the flood of 48. So, even though my house was above flood plain I raced down to buy flood insurance. When I got to the insurance office I met Warren. Besides the Mayor of Twisp Warren was the local insurance agent. I think of that every time someone says it's just like 48.

Flood insurance is no joke though. It's cheap and, if you own a riverfront house, a good idea.  As the Methow doesn't just flood the floor it takes the whole house.

Pass progress update
Open for the season, still a good idea to check the status of the pass before you end up in Newhalem with a bad attitude, been there!!



Real Estate
Locally 
Weekly Market Report
Gees..... This might be the most active week in real estate for the year so far.. 12 new listings, 7 pending and 6 sold. 376 active listing is the biggest increase from 358. Excellent activity for buyers and sellers all over the Methow Valley.
New activity report http://www.matrix.nwmls.com/DE.asp?ID=5158473864


Nationally
There are more and more opportunities to grab in the housing market. After almost six years of price declines, we're finally seeing signs of stability, as home prices rose in the first quarter in more than half the U.S. metro areas tracked by the National Association of Realtors (NAR). The median price for existing homes sold was higher than a year ago in 51% of the areas -- 74 of 146 metros.

That's a nice turnaround from the fourth quarter of last year when median prices increased in just 29 of 149 metros. The small supply of lower-priced homes in many places should provide a price boost, according to the NAR's chief economist, who added, "this is good news for many sellers who wish to list now, or for those waiting for prices to improve." Home sales were UP 4.7% over the prior quarter and UP 5.3% from the first quarter a year ago.

Cheers,
Bob


REAL ESTATE MARKET DATA: (see the details of the above graph with pictures)
Below is the link to the real estate market report for the last 7 days. An easy way to stay on top of the changes in real estate market in the Methow Valley.
http://www.matrix.nwmls.com/DE.asp?ID=5158473864

The link above has all the listings in the graph. "Tip." You can change the display to thumbnail pictures or your preference. Note: Status A=Active S=Sold E=Expired CA=Cancelled

See all the properties for sale on our web site at:
http://www.WindermereMethow.com

See our new color brochure at:
http://www.ibuildmagazines.com/windermeremethow1111.html

Join us on facebook:
http://www.facebook.com/pages/Windermere-Real-Estate-Methow-Valley/127759670614550

This Weeks Bank Owned Properties:
For bank owned properties the national average for sales price reductions is about 30% below market value. See the link below for the 3 bank owned Methow Valley properties.
http://www.matrix.nwmls.com/DE.asp?ID=5169350114

This Weeks Short Sale Properties:
http://www.matrix.nwmls.com/DE.asp?ID=5158499324

Short sales are often difficult transactions because there is little consistency between lenders and sellers. There are several situations that might exist in a short sale or "third party approval needed" .

1.      A seller could be current with their payments and lower the asking price below the amount owed after closing costs. This creates a third party approval (usually the lender) needed to sell. A seller might not have talked with the bank about selling short. Most banks will not discuss a short sale with a seller that is current on their payments.

2.      A seller is behind in there payments and in some phase of the foreclosure process. The bank has done broker price opinions and realize that the market is below the amount owed. They stop the foreclosure shy of taking the ownership and evicting the seller. The lender has not agreed to a listing price and might not even know the value of the property. The real estate brokers have to make offers to the seller and the accepted offers are then submitted to the lenders for approval. The lender may propose an addendum to accept the offer subject to receiving a better offer later even though the buyer has expenses to proceed to close. This option is a nightmare for buyers, sellers, and brokers.

3.      A seller can pre-negotiate the short sale agreement. This is sometimes called  "Cash for Keys" The lender has agreed to the list price and the lender pays the seller to maintain the property until they leave. The listing broker has the lenders selling addendum to the purchase and sale agreement as part of the listing information and the buyer understands the process for the purchase.

The best question you can ask as a buyer in a short sale is "has the lender agreed to the listing price" .
The best question a seller can ask the lender is "is the debt forgiven or will the lender reserve the right to the debt at a later time.

The seller, buyer and broker must be patient to do a short sale. Compared to offering on a bank owned that is motivated to sell, the third party agreement sale requires you to be kind to your agent, we don't like them either.

Web Cams:
Loup Loup Ski Bowl
http://www.skitheloup.com/loup_cam
Mid Valley
http://www.methownet.com/methowwebcam.html
Sun Mountain
http://www.sunmountainlodge.com/lodgecam.html
Pasayten Wilderness


Weather:
Middle Valley Weather; Carlton, Twisp, Winthrop. For Mazama add 2 feet of snow

7-DAY FORECAST

• This Afternoon Sunny, with a high near 89. Southwest wind around 7 mph.
• Tonight Partly cloudy, with a low around 47. North wind 9 to 13 mph.
• Wednesday Mostly sunny, with a high near 79. West wind 7 to 14 mph.
• Wednesday Night Partly cloudy, with a low around 41. West wind 10 to 18 mph, with gusts as high as 28 mph.
• Thursday Mostly sunny, with a high near 75. Northwest wind 5 to 10 mph becoming light west in the afternoon.
• Thursday Night Partly cloudy, with a low around 38.
• Friday Mostly sunny, with a high near 70.
• Friday Night Partly cloudy, with a low around 37.
• Saturday Mostly sunny, with a high near 73.
• Saturday Night Partly cloudy, with a low around 37.
• Sunday Partly sunny, with a high near 70.
• Sunday Night A 20 percent chance of showers. Mostly cloudy, with a low around 46.
• Monday A 40 percent chance of showers. Mostly cloudy, with a high near 65.

http://forecast.weather.gov/MapClick.php?CityName=Twisp&state=WA&site=OTX&textField1=48.3636&textField2=-120.121&e=0


Events:
Monday
Family Care Giver Support Group Room One 10:30 am until 12:00 pm  Meets the third Tuesday. Info: 997-2050.
appointment: (509)557-3660.
StoryTime Twisp Library 1:00 pm  Stories and crafts. Info: 997-4681.
Three Rivers Hospital Rocking Horse Bakery 4:00 pm until 6:00 pm  Community meeting to discuss concerns. Info:(509)689-2517, ext. 3416.
MV Fly Fishers Liberty Bell Jr-Sr High School 6:15 pm  Keith Wolf speaks in library at 7pm. Fly typing at 6:15pm. Info; 996-9892.

Tuesday
Family Care Giver Support Group Room One 10:30 am until 12:00 pm  Meets the third Tuesday. Info: 997-2050.
appointment: (509)557-3660.
StoryTime Twisp Library 1:00 pm  Stories and crafts. Info: 997-4681.
Three Rivers Hospital Rocking Horse Bakery 4:00 pm until 6:00 pm  Community meeting to discuss concerns. Info:(509)689-2517, ext. 3416.
MV Fly Fishers Liberty Bell Jr-Sr High School 6:15 pm  Keith Wolf speaks in library at 7pm. Fly typing at 6:15pm. Info; 996-9892.

Wednesday
Three Rivers Hospital TwispWorks 10:00 am until 12:00 pm  Community meeting to discuss concerns. Info:(509)689-2517, ext. 3416.
Mothering Group Room One 10:30 am until 12:30 pm  Meets 1st & 3rd Wednesdays. Info: 997-2050.
Community Soccer Winthrop Ballfield 5:00 pm  Play soccer Mondays and Wednesdays. All welcome. Location may vary as long as school/sports are in session. Check BB.
Mens' Golf Club Bear Creek Golf Course 5:00 pm  5pm Wednesdays for 9 holes. $. Info: bennetau@centurytel.net
Knitting Club TwispWorks 5:00 pm until 7:00 pm  Rotates between NOCA and Sara's Studio. Confirm location/info:996-9244.
Wednesday Mediation Confluence Gallery & Art Center 6:00 pm until 8:00 pm  6pm Meditate. Listen to teachings about 6:45pm(Pema Chodron or Riupoche). 7:30pm Discuss.
BAG IT Twisp River Pub 6:00 pm  MV Community School sponsors Pizza. Adults: $12; 12 and under: $8. Includes 2 slices of pizza & a salad. Pizza at 6pm. Movie ...
Chewuch River Restoration TwispWorks 6:00 pm  Meet with Forest Service & Yakama Nation to discuss. Info: 996-4063.

Thursday
Tourism/Service Training * 8:30 am  Okanogan County Tourism Workshop at Homestead Bldg. in Pateros. $20 (includes lunch/materials). Networking starts at 8am. Inf ...
Ladies' Golf Club Bear Creek Golf Course 9:00 am  9am Thursdays for 9 or 18 holes. $. Info: denise.heatley@gmail.com
Spinners and Weavers * 1:00 pm  Meet and spin/weave at 137 Old Twisp Hwy. Info: 997-5666.
Food Bank Cove Community Food Bank 1:00 pm until 4:00 pm  More than just food. Info: 997-0227.
Career Path Services Room One 3:00 pm  Info at careerpathservices.org. Appt: 888-826-1273.
Print On Opening Reception Methow Valley Community Center 4:00 pm until 7:00 pm  Celebrating Art inspired, made, printed at Door No. 3. Info: 997-2044.
Grief and Loss Support Group Room One 5:30 pm until 7:30 pm  Meet 3rd Thursdays. Info: 997-2050.
Volunteer Firefighters * 7:00 pm  Meet and train at local fire halls in District 6. Info: 997-2981.

Friday
Health Care for Kids Country Clinic 8:00 am  Free for uninsured 18 & under. Appointment: 996-8180.
Freestyle Dance The Studio 5:45 pm until 6:45 pm  Dance for your health. $5. Info: 996-2017.
Bingo * 6:00 pm  Play at Eagles Hall. Info: 997-8133.
Valley Teen Center TwispWorks 6:00 pm  Karaoke and Open Mic night. Info: 997-9211
Larry Murante Old Schoolhouse Brewery 7:00 pm  Singer/songwriter does folk music. Info: 996-3183.
I Hate Hamlet Merc Playhouse 7:00 pm  A play by Paul Rudnick. $15/Adult. $5/Youth. Info: 997-PLAY.

Saturday
Kathy Irland Clinic Bear Creek Equestrian Center 12:00 am  Level IV Centered Riding. May 19-20. $75/day. Register/Info: 996-3727.
TaiChi Qigong Shibashi The Studio 8:30 am  Gentle movement for energizing and release. $3. Info: 996-2017.
Weed & Native Plant Education Bo Methow Valley Community Center 9:00 am  Conservancy help in identifying plants and being a responsible land steward. At Farmer's Mkt. Info:996-2870.
Medicinal & Edible Plant Walk * 9:00 am  Methow Conservancy shrub-steppe stroll with herbalist/ethnobotanist Rosalee de la Foret & naturalist Mary Kiesaw. $25. Info/r ...
Twisp Farmers Market Methow Valley Community Center 9:00 am  Plants, produce, food, music, handmade items and more.
Fundamentals of Photography Confluence Gallery & Art Center 10:00 am until 2:00 pm  Sol Gutierrez teaches a systematic approach. May 19 & 20, 10am-2pm. Tuition: $150. Register/Info: 997-ARTS.
Bike Rodeo TwispWorks 10:00 am  Helmet safety, injury protection and more. Info: 997-4013.
Cool Container Gardens Local 98856 1:00 pm  Tess teaches about using a palate of plants, materials, containers. Tips & tricks for success. $15. Info/register at 997-0978 ...
The Blackberry Bushes String Ban Old Schoolhouse Brewery 7:00 pm  Bluegrass music. Info: 996-3183.
I Hate Hamlet Merc Playhouse 7:00 pm  A play by Paul Rudnick. $15/Adult. $5/Youth. Info: 997-PLAY.
Cascadia /Pipestone Fundraiser Methow Valley Community Center 7:00 pm  First half original compositions. and more. Second half Pipestone Orchestra performain Bach & Beethoven. $12/adult. Info: 997 ...

Sunday
Pipestone Youth Orchestra Methow Valley Community Center 1:00 pm until 4:00 pm  Student recitals. Guitar (1-2pm), piano, flue and strings(2:15 on) By donation. Info: 997-0222.
I Hate Hamlet Merc Playhouse 2:00 pm  A play by Paul Rudnick. $15/Adult. $5/Youth. Info: 997-PLAY.
  Breast Cancer Support Group Room One 3:00 pm until 5:00 pm  Meets 3rd Sundays. Drop-ins welcome. Info: 997-2819.

Monday
Practice Your French Hank's Harvest Foods 4:30 pm until 5:30 pm  In the cafe. Info: 997-0717.
Community Soccer Winthrop Ballfield 5:00 pm  Play soccer Mondays and Wednesdays. All welcome. Location may vary as long as school/sports are in session. Check BB.
Line Dancing Twisp Grange 6:30 pm  Dance as exercise and fun. $4. Info: 997-8805.
http://methownet.com/calendar.html


Methow Valley Backcountry Horsemen
Next Meeting June 7 
http://www.mvbch.com/



Pass Report:
Don't forget to check the pass report before you go!!!!
http://www.wsdot.wa.gov/traffic/passes/

North Cascade Hwy SR20
http://www.wsdot.wa.gov/traffic/passes/northcascades

BLEWETT PASS US97
http://www.wsdot.wa.gov/traffic/passes/blewett/default.aspx

STEVENS PASS US2
http://www.wsdot.com/traffic/passes/stevens/default.aspx

SNOQUALMIE PASS I-90
http://www.wsdot.com/traffic/passes/snoqualmie/default.aspx

USFS NW Weather and Avalanche Center
http://www.nwac.us/forecast/avalanche/current/zone/9/

Lender's Corner:
As of noon Monday

Eagle Home Mortgage

Mike Thornton
Branch Manager 
Eagle Home Mortgage
715 B Okoma Drive
Omak, WA 98841
P: 509-826-1965
C: 509-429-3500
NMLS #160217
 
Rates for April 16th 2011
WE have been really busy
Please understand if our response and loans
Don't happen in our normal timeframes!!!

Loan Product Fixed Rate Points APR
Amount  
 $ 150,000 30 year conventional Fixed 3.875% 1 4.221%
      
 $ 150,000 15 year conventional Fixed 3.250% 1 3.392%
      
 $ 150,000 Guaranteed Rural Housing Fixed 3.750% 1 4.598%
      
 $ 150,000 30 Year FHA or VA Fixed 3.750% 1 4.812%
      
 $ 150,000 Manufactured Homes Fixed 4.250% 1 4.571%
 Call Mike Thornton (NMLS #160217) at 509 826-1965 or 429-3500 
Universal American Mortgage Company LLC, dba Eagle Home Mortgage of Washington,
License # s:  NMLS#160217. CL-803137
Rates and terms subject to change.  This is not an advertisement 
to extend credit as defined by Regulation Z.  All Rights Reserved.
All loan based on 150,000 loan amount
Conventional rates based on 740 credit score,  FHA rates Based on 640 credit score



Wells Fargo Home Mortgage

Good Morning!
 
What a beautiful spring day, hope you all enjoyed your weekend.
 
Rates are still very low, let you clients know now is the time to buy!!!!!
 
The current interest rates shown below are based on a refinance of a single-family, primary residence. For current purchase rates, contact me at 425-417-0561.
Interest rates displayed below require that you pay 1% of your loan amount toward the loan discount points.
For information on the many other loan options we have available, contact me at 425-417-0561.
 
as of 05/07/2012
Product Interest Rate APR
Conforming and FHA Loans
30-Year Fixed 3.875% 4.051%
30-Year Fixed FHA 3.750% 4.827%
15-Year Fixed 3.000% 3.308%
5-Year ARM 2.250% 3.072%
5-Year ARM FHA 2.750% 3.108%
Larger Loan Amounts in Eligible Areas – Conforming and FHA.
30-Year Fixed 4.000% 4.130%
30-Year Fixed FHA 3.750% 4.775%
5-Year ARM 2.500% 3.114%
Jumbo Loans – Amounts that exceed conforming loan limit
30-Year Fixed 4.250% 4.382%
5-Year ARM 2.500% 3.114%
 
 
 
LISA SAVAGE
 
Mortgage Consultant
Retail
NMLSR ID 414022
 
Wells Fargo Home Mortgage  |  22102 17th Ave Se  |  Bothell, WA  98021
MAC P6422-020
Tel 425-489-4227  |  Toll-free 866-486-6504  |  Cell 425-417-0561  |  Fax 866-359-5368
 
Lisa.A.Savage@wellsfargo.com

 
To get pre-approved click on the link below.
http://www.wfhm.com/lisa-savage1

 
PEOPLES BANK

Darel Ansley
Real Estate Loan Officer
NMLS# 500247
29 S. Wenatchee Avenue
Wenatchee, WA 98801
Office: (509) 664-5324
Mobile: (509) 860-3301
Fax: (509) 664-5315

For the week of May 14, 2012 – Vol. 10, Issue 20

>> Market Update

QUOTE OF THE WEEK..."I've been lucky. Opportunities don't often come along. So, when they do, you have to grab them." --Audrey Hepburn

INFO THAT HITS US WHERE WE LIVE... There are more and more opportunities to grab in the housing market. After almost six years of price declines, we're finally seeing signs of stability, as home prices rose in the first quarter in more than half the U.S. metro areas tracked by the National Association of Realtors (NAR). The median price for existing homes sold was higher than a year ago in 51% of the areas -- 74 of 146 metros.

That's a nice turnaround from the fourth quarter of last year when median prices increased in just 29 of 149 metros. The small supply of lower-priced homes in many places should provide a price boost, according to the NAR's chief economist, who added, "this is good news for many sellers who wish to list now, or for those waiting for prices to improve." Home sales were UP 4.7% over the prior quarter and UP 5.3% from the first quarter a year ago.

BUSINESS TIP OF THE WEEK... Satisfied customers are your strongest source of leads. When clients have an experience worth talking about, the value of the referrals can be enormous.

>> Review of Last Week

HONEY FOR THE BEARS... The only investors who got a sweet treat last week were the bears who expect to see stocks go down. European worries and a big loss at a big bank sent the Dow on its biggest weekly dive in five months. JPMorgan revealed a pretax trading loss of $2 billion, partially offset by $1 billion in gains. The loss comes at a bad time, when banks are fighting increased regulations, which they and many economists say are unnecessary. Across the pond, a new French Socialist President and Greece's failure to form a coalition government put austerity plans in doubt.

Weekly initial jobless claims remain elevated but not growing, staying just below 370,000. On the upside, there was a surprise gain in the University of Michigan Consumer Sentiment Survey. This was joined by an unexpected 0.2% dip in overall wholesale prices (PPI), with Core PPI, excluding food and energy, up just 0.2%, as expected.

For the week, the Dow ended down 1.7%, at 12821; the S&P 500 closed down 1.1%, to 1353; and the Nasdaq went down 0.8%, to 2934.

Global economic worries, including a slowing of China's economic growth, inspired this week's flight to safety into bonds. The FNMA 3.5% bond we watch finished the week unchanged, at $104.01. In Freddie Mac's weekly survey, national average mortgage rates hit record lows for certain types of mortgages for the second week in a row. This was due to the strength in mortgage bond prices due to the continued economic uncertainty.

DID YOU KNOW?... Investors see Building Permits as an indicator of consumer confidence. They watch monthly and yearly trends for signs of weakness that might suggest a contraction in consumer spending.

>> This Week’s Forecast

CONSUMER PRICES AND SPENDING, HOME BUILDING AND A PEEK INTO THE FED...  Tuesday we see how strongly consumers are spending, with April Retail Sales expected up, but not by as much as last month. Prices should hold, as the overall Consumer Price Index (CPI) is forecast flat, with "core" prices (excluding food and energy) up just 0.2%.

We'll also look into home building, with April Housing Starts predicted up a little, but Building Permits (see above) down a bit. Wednesday's FOMC Minutes will give us a closer look into what happened at the last Fed meeting.

>> The Week’s Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Methow Naturalist
http://www.methownaturalist.com/

Recreation: Trails-Methow Valley Ranger District
North
http://www.fs.fed.us/r6/oka/recreation/mvtrailn.shtml
South
http://www.fs.fed.us/r6/oka/recreation/mvtrials.shtml



Methow Valley Ski Touring Association
Closed for the Season
http://www.mvsta.com/grooming2.html

Loup Loup Ski Area Conditions

Closed for the Season
http://www.skitheloup.com/the_mountain/conditions/
Web Cams: Loup Loup Ski Bowl
http://www.skitheloup.com/loup_cam


Methow Valley Snowmobile Association
DATE              SNOPARK                   LUNCHSPOT
To Be Continued next season....

For current grooming information call  Bev or Jerry Schultz at 509-996-2220.
http://www.methow.com/groomer/index.htm
Monthly club meetings are held on the last Tuesday of the month; 6:00 p.m. Potluck at Senior Center in Twisp, and 6:46 p.m. meeting.
http://www.methow.com/groomer/mvsa.htm