Recovery News & Foreclosure Prevention Information

A couple of quick items I wanted to share with you that you're welcome to share with anyone in your life who may appreciate some positive recovery news, or who may be in need of some Foreclosure Prevention Information.

Recovery Update:

1) For the first time in five years, sales of previously occupied homes rose for the third consecutive month in June, while foreclosure sales and the glut of homes on the market both declined. Sales also have risen for three straight months in 40 out of 55 major metropolitan areas, and prices rose during that period in about half of those areas. To read the full article, Click Here.

2) Forbes has listed Seattle as one of the 10 cities in the U.S. most likely to rebound swiftly from the nation's current Recession, in large part due to our high-tech capabilities. Cities with robust tech sectors such as ours are poised for stronger recoveries than manufacturing or finance centers. Since real estate is all about location, location, location, a healthy economy historically leads to a healthy real estate market. Stay tuned.

3) The Dow Jones soared above 9,000 yesterday for the first time since early January, and the Nasdaq has recorded 12 consecutive days of gains, (a feat last accomplished in 1992).

None of this means we're out of the woods, it just shows that we're taking baby steps back towards middle ground. We have a long way to go until recovery is substained, still its nice to see progress after so many months of record losses.

This further shows that if you're confident in your job, have equity in your current home, or have money saved up for down payment, (or someone in your life willing to gift you money towards a down payment), now is a fantastic time to take advantage of this Once in a Decade Real Estate Sale. Remember, first-time buyers are eligible for an $8,000 credit after closing if they close on a purchase by November 30th.

I am committed to helping people obtain the American Dream of substainable home ownership...not just home ownership. To that end, you can expect accurate market updates, and professional, honest real estate consultation at all times.

To learn more about how you can take advantage of today's real estate market to better your personal situation, contact me anytime at (206) 799-2318.

Foreclosure Prevention Workshop:

The City of Seattle Housing and the U.S. Dept. of Housing & Urban Development are holding a workshop today from 11-7 at Cleveland High School. To obtain more info, Click Here.

Michael Jackson 1958 - 2009

The world just lost the greatest entertainer of our generation, and quite possibly of all-time, Michael Joseph Jackson. In his prime, there was none better that Mike, and there will never be another artist like him.

Michael's music and live performances dominated my formative years, and many of his songs act as a diary for special people, places, and moments in my life. His talent has been overshadowed in recent years by allegations, surgeries, court battles, and eccentric behavior. As uncomfortable as it was to watch his decline, I choose to instead remember how exciting it was to watch his climb. (And no one ever climbed higher).

In an imperfect world divided by race, religion, class, landscape, and culture, this man made people forget their differences, even if just for a song, a video, or a concert. He broke down barriers and united the world through his music for nearly 40 years, and I'm grateful I had a chance to witness his brilliant career along with my family and friends.

You may not be a fan of Mike's. You may crucify him for the ugly allegations, mock him for his surgeries, or pity those of us who choose to remember the good times, and that's fine. It's my humble opinion that the world isn't as black and white as many make it out to be, and judging others without knowing all of the facts simply isn't in my DNA. The future may shed more light on Michael's life, (for better or for worse), but today I prefer to focus on all of the joy he brought the world through his many talents, and leave the judging and sensationalism to others.

Michael, thank you for the memories. You enhanced my life and millions of others, and you'll never be forgotten. RIP (To view an impromptu tribute to M.J. from across the world, Click Here)

Summer Update: Helpful Info for Buyers and Sellers

As I continue to put the finishing touches on a special summer edition of my quarterly newsletter Club Karma, I wanted to quickly share some updates with you.

"Home-Buyer 101" is back! This summer I will be teaming up with my preferred lender, Trevor Reese of Wells Fargo Home Mortgage, to host round table discussions for First-Time Home Buyers, (as well as repeat Purchasers), who are interested in learning more about the process of buying a home in today's market. FHA guidelines, declining values, record low rates, and the $8,000 tax credit have all changed the way the process works, so this will help empower potential buyers with useful information.

If you or anyone you know is interested in learning more about these topics, or would like to join us at a public, (or private), discussion, contact me anytime at (206) 799-2318 or tikirobs@yahoo.com. We will also discuss Seller strategies, so if you're planning on selling in the future, this discussion will benefit you as well. Now on to some stats:

For the third month in row, news continues to be positive from the Northwest Multiple Listing Service. Pending sales were up 21.5% in the Puget Sound from the same time 12 months ago, and up 3.5% from April's totals. This, combined with some long overdue summer-like weather has improved consumer confidence, continuing to fuel a positive shift in housing.

In addition, inventory is down about 20% from last year, which bodes well for eventual price stabilization in our area. As inventory continues to shrink and sales continue to increase, common sense tells us prices should soon begin to stabilize, (although short sales and foreclosures continue to effect property values...especially in South King County where they make up nearly 25% of the market).

On the national scene, most of the financial trends have been positive, (despite sobering unemployment numbers). I'll dive deeper into this in the newsletter, but the good news is that even though the unemployment rate continues to increase, (now above 9% nationally), the number of new jobless claims has declined for several weeks in a row. (Historically, this is a positive sign that the Recession is nearing an end). -Learn the historical significance of this in a previous Blog Post: May Market Update.

Finally, the $8,000 tax credit for 1st time homebuyers continues to spur sales in the $400,000 and under price range. Recently it was announced that FHA will soon make this credit available for buyers to use a down payment for their purchase. Details have yet to be released, but this announcement has excited many people who need down payment assistance, or who simply prefer to use the credit towards a purchase, rather than receive it after closing.

Let's hope the M's get back on track this week, and that the Huskies continue to sign more big name recruits.

More detailed information and summer fun are on the way in the newsletter...Aloha, Rob

May Market Update: Good News!

Below I've attached a quick Market Update courtesy of the Seattle Times. I welcome you to take a moment to read it as the April sales stats for our area have surged and this bodes well for all of us.

Pending sales were up 25% in King County, and 28% in Snohomish County. I mentioned in my last CK Light mailer that I was witnessing a market shift on a daily basis on our NWMLS site, and these stats clearly illustrate what I was seeing was real.

With affordability at an all-time high, interest rates at an all-time historical low, an $8,000 tax credit for First-Time Buyers, and an improving flow of credit for borrowers, these numbers are no fluke. Due to the normal ebb and flow of living, (marriages, divorces, health issues, empty nesters, job relocations, etc...), there has been a pent up demand for real estate for months, and at some point momentum was due to follow.

The Great Recission we've been experiencing led us to become the "Land of Do Nothing", and that wasn't going to last forever. As local sales numbers continue to improve, our area will have a better chance of seeing price stabilization soon after. We still have a large number of foreclosures and short sales that are dragging values down with them, but as we continue to clear those out of the system, things will continue to improve.

In other equally important news, this Friday the Labor Department will release its monthly job report. February and March unemployment numbers were both less than January's, and we hope April's stats continue that trend. In past recessions, a slow down in the rate of job losses has been a telling sign, as typically within a few months the economy began growing again.

*Important Stat: The Economic Cycle Research Institute data shows that in every previous downturn in the last 75 years, the economy has started to grow no more than 4 months after its pace of deterioration has slowed. Due to this information, they're forecasting this Great Recission will most likely be over by Labor Day.

We're not out of the woods yet, but it feels good to share some positive trends after a dark and challenging winter. Real estate is improving, the stock market is up 30% from its 2009 low earlier this year, summer's around the corner, the Mariners are in first place, and my girl Melissa returned from her rib injury to score a perfect 30 on Dancing With the Stars. Life is good. :)

To view the Seattle Times article I referenced above, Click Here

You're Invited: Child ID Safety Day Saturday April 25th 11-2pm

This Saturday from 11-2, my office is sponsoring "My ID Club" for children 16 and under. We'll provide Complimentary Laminated Photo / Fingerprint Safety ID Cards, snacks and activities for the kids, plus I've partnered with my friends at Gold's Gym and Desert Sun for some surprises for us adults, too.

Click on the poster above to learn more about this complimentary event. (It is printable).

Hope to see you there! Rob

Valuable Easter Update

Many of you will celebrate Easter tomorrow with loved ones, and I'm sure topics such as our economy, jobs, saving money, re-financing, real estate, etc... may come up.

There is a lot of confusion and misconceptions with how some of the recent Administration's Plans aimed at keeping people in their homes, and stabilizing national home values function. (And who qualifies for them).

To help eliminate the confusion, I've created a link on my website called "New In 2009". To learn the facts about the recently implemented plans, or to find out if you qualify for any of them, Click Here.

Quick Money Saving Examples:

Due to declining home values, many Americans have been unable to take advantage of today's lower mortgage rates, (recently 4.375%), to refinance their existing loan. Under the new Making Home Affordable Plan, 7-9 million homeowners will now be eligible to refinance.

In addition, the $8,000 First-Time Home Buyer Tax Credit, (an actual tax credit - not a deduction), is clearly defined on my site. This 2009 version does not require a buyer to pay the credit back, as the 2008 version did. Plus, if you buy in 2009 you have the option to file an amended 2008 1040-X tax return and collect the $8,000 credit this year.

My family and I wish you and your loved ones a Happy Easter. I encourage you to share the information on my website with family and friends, as saving money and keeping loved ones in their homes is something that we all care about.

Learn the facts! Visit: http://www.tikirobs.com/newin2009

Kids For Karma Holiday Update

Hola Amigos and Amigas,

I hope you all enjoyed the recent Thanksgiving Holiday with your famlies. My family and I were blessed to have been in Puerto Vallarta giving thanks to the simple things in life that we at times take for granted.

There's no CNN on the beach, so it was a welcome escape from the constant reminder of our nation's failing economy, and other pressing issues. No ESPN, so I also avoided a couple of horrible Husky and Seahawk games. No bickering Republicans and Democrats either, only serene "people" enjoying their families and the natural beauty of the sun, sand, and sea.

It's amazing how peaceful it can be to simply listen to the waves crash for a few days...it's good for the soul and has helped bring a calm to my body that has been lacking for months. It takes a toll on all of us to contstantly read and hear negativity in our lives.

As a result, I'm committed to bringing some positivity to people's lives, and need your help to do so. Next week, Nicole, Kelly and I will finally head out to get a start on our "Kids For Karma" food drive.

Due to cold's, flu's, sports, school, a vacation, etc...we postponed it until now, and as a result it's more important than ever. We'd love for you to help us collect as many food items, (canned, perishable, rice, pasta, etc...), and / or hygeine products as possible for struggling families in our area. As a father, I have tremendous empathy for families who need these items, and fully realize that life as we know it can change in an instant.

The girls and I will be deliverying 2009 Beach Calendars and Christmas cards while we're out, so even if you don't have anything to donate we look forward to seeing you.

Adios - Roberto

P.S. Next month, I will kick start 2009 with an information packed Club Karma Newsletter. It will feature valuable market updates and trends, but more importantly things we can all do to better deal with the constant rush of negativity and stresses in our lives. (As well as Halloween costume photos...photos are still welcome if you'd like be eligible to win a gift card!).

I've enjoyed helping people succeed while our local market was setting records the past several years, but I will take even more joy in helping others succeed in 2009 when we all need it the most.

Thank you for your support! :)