The purpose of the newsletter is to remain informed of current consumer topics and pending economic indicators that affect the financial and real estate markets of the Seattle Area.

John Bratmon

President/Broker

Towne Mortgage

7975 Leary Way

Redmond, WA  98052

Phone:  (425) 885-1430

Fax:     (425) 885-7249

 

 

To contact me, to assist you with your mortgage needs, Click Here

 

 

To find out what your real property may be worth in the current market, Click Here

 

 

 

 

 
U.S. Treasury Bonds
Maturity Yield Last
Week		 Last
Month
5 Year 4.36 4.43 4.54
10 Year

4.45

 4.51 4.60
30 Year 4.65 4.71 4.79

Treasury Market Summary: 
 The Oct trade deficit unexpectedly widened to a new record -$68.9 bln. Exports rose 1.7% as the 2.7% rise in imports matched the strong Sept gain. Petrol imports rose with volume despite the lower price of crude oil. On the export side a large 6% rise in capital goods (huge jump in aircraft) was largely offset by a fall in consumer goods. The deficit with China again reached 30% of the total as the Pacific Rim stands just shy of half the entire deficit.
 

Economic Indicators for this week that could impact the mortgage or real estate markets include...

If You Had Bought a 

Home Back Then...?
Are you trying to make up your mind whether to "move up" to a bigger home or purchase your first house?

 

...but it's too darned expensive?

 

What's the price?

 

$100,000? $200,000? $500K?

 

If you had bought that $100,000 house or condo ten years ago, national averages say it would have cost you around $56,000. Locally, some markets have experienced even more price growth.

 

In 1994, today's $500,000 house would have cost about $280,000.

 

That's because the national median sales price ten years ago was 56% of today's price.

Once you buy a house, your payment remains stable. If you get a fixed rate loan the payment will remain exactly the same throughout your mortgage. Rates are averaging in the mid-5% range right now (October 2004).

 

Maybe those examples are too old, too long ago. Five years ago, a $100,000 house would have cost $70,000. A $400,000 home would have cost $280,000.

I

t doesn't make sense to rent. Rent keeps going up. House payments don't.

 

Plus, houses appreciate.

 

If you were paying off your thirty-year mortgage today, on schedule, the median average home price when you bought your home was only $32,000.

 

No one can predict the future, but since 1968, houses averaged an appreciation rate of 6.34% a year.

 

That doesn't sound like much?

 

If you buy a $250,000 house today, no one can tell you what it will be worth a year from now or five years from now. Based on 6.34% annual appreciation, a home kept in good condition in a solid location could be worth $1.5 million 30 years from now.

 

That's not a promise, though.

 

The purpose of this newsletter is to stimulate thought for my clients and those

professionals with whom I network.  If you are a real estate, estate planning, taxation,

financial planning or insurance professional receiving this newsletter, please call my

office and introduce yourself to me.  I'm always seeking to grow my referral network and

expose more service professionals to my client base.  I specialize in helping those

individuals looking to buy, sell or refinance real property in the Pacific Northwest area. 
By The Way:  Most people in the Mortgage Industry spend the majority of their time prospecting for new clients (through ads, cold calling, flyers, etc.).  That's not they way I do things.  My business is based almost exclusively by referrals from my Preferred Partners (Real Estate and Professional Consultants), and my current & past clients.  Because of this, I devote the majority of my time to serving the needs of my clients before, during and after their transaction.  As long as they keep referring their friends, neighbors, family members & clients to me, I don't have to spend my time prospecting for clients, which means I can spend my time doing an even better job for them.  

 

If you know someone who'd appreciate the services I provide, please call me with their name & phone number, and I'll be happy to follow up with them.

Visit John at www.NorthwestMortgageSolutions.com   

 

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John Bratmon of Towne Mortgage is a licensed Mortgage Broker, approved with numerous lending sources throughout the state.  John provides Conventional, Non Conforming, Jumbo, and Foreign National Loans. He assists clients with excellent credit, less than perfect credit and no credit.  John can also assist individuals who are self-employed and require both full documentation and no documentation loans. John can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate.   If he can be of assistance or to be added or removed from his distribution list, please contact John at the telephone numbers provided, email him directly or click on the Contact John Link above & to the right.  Your request will be immediately honored.