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Local Treasure: Golden Gardens November 17, 2005

There’s a fun story on the City of Seattle’s website about the history of the Golden Gardens park. Turns out this local gem was named and developed “in 1907 as an attraction at the end of the novel, new electric car lines being built by realtors to induce townfolk to take a ‘Sunday outing’ out of town and through the woods to a picnic or swim at a beach. (Along the way they were made aware of the real estate available!)”

Wow! Back then agents understood that a rail project adds to property values! :)

Of course, some things never change:

“In 1933, the community celebrated the opening of Seaview Avenue, a narrow two-lane road alongside the railroad, but on its own fill behind a new rock seawall, that ended abruptly with a new railroad underpass connecting with the old parking lot and providing a drive through the park, as well as auto access to the beach area. Then traffic really became a problem!“

Why was (and is) parking so tight? Because Golden Gardens is still a great place to take a ‘Sunday outing’ (or an outing on any day of the week!). The park has a little bit for everyone…. There are beaches and creeks for the kids, fire pits for the teens and wonderful views and trails for the rest of us!

Want more? More history of Golden Gardens in this acrobat file (pdf). More on Seattle’s first electric streetcar. More archived photos of Seattle. More archived photos of Golden Gardens. More modern shots of Golden Gardens.

And, of course, there are more local treasures on Rain City Guide.

Ballard Jazz Festival

Jazz MusiciansThis weekend in Ballard:

2 days / 50 musicians / 1 nordic fishing village

Artists include: Joe Locke/Geoff Keezer Quartet, Larry Goldings Trio, Kate Hammett-Vaughn, Eric Alexander, Peter Bernstein, Marc Seales Band, Jovino Santos Neto Quarteto, Origin Uber Band, Tumbao, Dawn Clement Trio, John Stowell, Rob Davis, Matt Jorgensen +451, Bill Anschell … and many more!

All the venues for the Jazz Walk are on a $15 joint cover (a $25 Festival Pass will also grant admission). Tickets can be ordered online or you can buy tickets at either the New York Fashion Academy (5201 Ballard Ave NW) or Mars Hill (1401 NW Leary Way) on Friday, November 18 starting at 7:30pm. Tickets may also be purchased at any Sonic Boom Records location.

links for 2005-11-17

Agent? Broker? Realtor? What’s the Difference? November 16, 2005

409 0991 IMG 1The Motley Fool has a nice article explaining the different between a real estate agent, real estate broker and a realtor:

Ever wonder whether a real estate broker and a Realtor are the same thing? Well, they’re not. Not exactly, at least. Someone with a real estate license is a licensed real estate professional, or an agent. This person may also be a Realtor but isn’t necessarily one.

We often think of any real estate agent as a Realtor, but to be one, he or she must be a member of The National Association of Realtors, which has trademarked the word “Realtor.”

A real estate broker, meanwhile, has had additional training and holds a different license. Don’t think that you need a broker and not an agent, though. Either can serve you very well. Although many people casually refer to those who show and sell homes as brokers, they’re often actually agents. Most people use the terms interchangeably.

If you’re curious, I’m a real estate agent (not a broker) and a Realtor.

links for 2005-11-16

Google Base Launches without “Housing”

Google BaseGoogle Base launched today without the “housing” option that was available in the temporary site (as shown in this screenshot). Of course, users can still add their own housing information, but if it is not a default option, I doubt it will take off.

The site looks real interesting… Here’s a positive review and here’s a negative review. I’ll post my review after I’ve had a chance to play with it more.

So what impact will this have on the real estate industry?

Short-term: none.
Long-term: It depends on where Google takes it.

links for 2005-11-15 November 15, 2005

UPDATE: I’m experimenting with a feature of del.icio.us that lets me post all of the links that I’ve saved for that day. What do people think if I made this a daily feature? (Normally, there won’t be nearly as many links. I was playing with del.icio.us a lot today!) Also, I posted about del.icio.us last May.

Seek a Qualified Mortgage Consultant to Ensure the Best Results

Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Literally hundreds of loan programs are available, and it is important to find the one that best fits your personal long-term goals.

First and foremost, you must have a mortgage consultant in your corner that is willing to take the time to know what your long-term goals are. Communication is the key factor here.

Curious prospective home buyers sometimes turn to Internet-based services just to see what current interest rates are. But a faceless web site will not take the prospect’s future financial planning into consideration or guide the potential borrower through the many nuances of the loan process. When shopping for a home loan, be wary of web-based services that offer programs to reel prospects in with attractive rates that are based upon unrealistic time frames.

If a lender is offering a terrific rate based on a 10-day lock-in period, it is unlikely that the potential home owner would actually be able to find their dream home, get through the negotiation process and win approval from a lender within such a short period of time. This is called short-pricing, and when it comes time to close the transaction, the rate that was originally offered is simply no longer available. As a result, the unfortunate prospect is bulldozed into a loan program with a higher interest rate.

It is highly unlikely that a qualified loan originator whose business is based upon referrals will use unscrupulous tactics such as this to get new customers in the door!

Once you have found a mortgage consultant that you feel comfortable working with, lay your goals out on the table because it will have a tremendous impact on choosing a loan program that meets your specific needs. One of the most important factors to consider is how long you wish to borrow the money for. For example, if you know you will only be in the home for five years, it wouldn’t make sense to opt for a 30-year loan program or pay points up front to secure a lower interest rate. You would not be in the home long enough to benefit from such action.

Your mortgage consultant should be able to narrow down a selection of programs based on the information that you have provided, and present you with an easy-to-read spreadsheet that clearly defines viable options for your interest rate and amortization schedule, monthly payment and any potential savings you may realize by paying points up front.

Moreover, a reputable loan originator will not hesitate to share this information with your tax consultant or financial planner so they may offer additional feedback on your behalf.

Home ownership imparts a rewarding vehicle for building wealth and a strong financial future. The mortgage consultant that you choose should be there not only when your loan closes, but should also provide you with ongoing service to assist you in managing that debt over time.

Randy and D.R. Miller
Professional Mortgage Consultants
Golf Savings Bank
Phone: 425−673−8220 Fax: 425−771−5055
randyanddr@golfsavingsbank.com
www.mortgages4everybody.com

Is it Time to Refinance to Cash Out?

rubber duckThe Seattle Times posted an interesting article giving the pros and cons of refinancing homes in order to take out an cash (or a line of credit). Interestingly, the number of people doing this is extremely high with “nearly three out of four homeowners who refinanced through Freddie Mac between July and October cashing out.”

What are the downsides to “cashing out”?

With that said, there are several good reasons to strongly consider an equity line:

List of the Most innovative Search Sites November 12, 2005

Innovative Real Estate TechnologiesThere are so many interesting real estate search sites that are pop up every day, and in the process of trying to cover all of them in a blog format, I think things have gotten a little too scattered. So I took a little time this evening and put all of the sites that I’m aware of on one page along with a few notes about them. Check it out at:

At this point, I’ve broken all of the sites into four categories:

This beauty of making this list on a webpage instead of a blog post is that it will be much more fluid. I always feel awkward about updating a blog entry after I’ve posted it, but I’ll feel no qualms about updating this list on a regular basis. Along those lines, if you know of an innovative real estate tool that I’ve missed, please let me know!

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