Sound Mortgage Planning Blog

My wife and I recently moved back to Island Lake in Shelton, Washington after moving away 2-1/2 years ago. We had always beat ourselves up for selling our home and moving away and we are so happy to be back.

It's been great becoming reacquainted with the surroundings and seeing what has changed or not changed.

Last night we drove downtown and found that a store we had been a patron of was no longer in business but had been replaced by the Mason County Habitat for Humanity reclamation store. If you have never been, it's a must see for any "do-it-yourselfer". Even if you don't want to take on any projects they have much more than you would expect. We saw books, furniture, lamps and more. What a fantastic place to rummage through.

I had also noticed that Lumberman's is now Pro Build. I believe that transitioned a while ago, but we've been gone so it was new to us.

Island Lake is absolutely beautiful and is perfectly sized. 109+/- acres and at it's deepest, 30 feet deep, give or take a foot or two. In the summer the water is at a perfect temperature for swimming. If you like kayaking, you can go along the shores edge get a nice workout while looking at the beautiful homes (some even have For Sale signs). The bass and trout are plenty and the people that live on the lake are fantastic and very friendly.

You should become acquainted with Island Lake too! It's a great place to live.

A co-worker of mine just sent out a link to an article from USA Today about HUD Secretary Donovan's view regarding extending the first time home buyer tax credit. The part of the article that stood out for me was his take on the housing market's reaction if the credit was not being extended.

"I do not believe that a catastrophic decline would be the result of the end of the credit," Donovan said.

Even though there are reports that show that even approaching the end of the tax credit has had an affect of housing starts he still says, "I do not believe that a catastrophic decline would be the result of the end of the credit"? Um, maybe not a catastrophic decline, but does he believe that the market has recovered? Do we have to be faced with a "catastrophic decline" to continue to take steps to improve the housing market?

The article went on to read, "The Commerce Department on Tuesday reported that new construction of U.S. homes rose less than expected in September, which analysts said could be related to worries over the expiration of the tax credit." Does Mr. Donovan believe this is just coincidence? Is the decline actually due to a seasonal adjustment? Maybe it is, after all, here in the Northwest construction start typically slow down toward the winter months.

"The $8,000 tax credit, which will expire at the end of November, has boosted home sales in recent months, helping to revive a flagging housing market that had been a key factor driving the recession." This to me is the most compelling argument to extend the tax credit; the tax credit has boosted home sales.

Follow the link below to read the entire article. What are your thoughts?

White House skeptical on renewing home buyers' credit 

Every now and again we run across a shortcoming that needs to be addressed. While I try to keep everyone updated during the loan process, I do sometimes forget to update everyone involved.

That being the case, I have implement a new update system for my clients and the agents involved in their transaction. All parties involved will receive updates as certain milestones are achieved. The following is a list of milestones that will be updated:

This will hopefully provide clients and agents with enough information to keep them informed.

As always, I can be reached for additonal details as needed.

I hope this helps and I am happy to be able to provide you with the level of service you expect.

Take care,

Shawn