Economic Update by Mike Bess

Mike Bess always has great information in his Economic Updates. Here is one of his latest editions:

Here is a link to his "June 21, 2008 Economic Update":

http://realtytimes.com/ncmeu/40/1.MikeBess

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month's issue includes the following topics:

"New Homes: A Silver Lining in Today's Housing Market?"

"Home Sales May Rise Modestly Before Upturn in Second Half Of 2008"

Plus a Calendar showing the most important economic indicators and their upcoming release dates.

I hope you enjoy this bi-weekly Newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Sincerely,

Mike Bess

Michael Bess Mortgage Banker

National City Mortgage, a division of National City Bank

31620 23rd Ave S #200

Federal Way, WA 98003

Office: 253-839-6500

Mobile: 253-632-0105

Fax: 253-839-6520

Email: mike.bess@ncmc.com and let him know that Connie Suehiro sent you.

Are you interested in buying or selling a home? I can help! If you would like a current copy of the homes on the market that are in your price range, call me at 509-431-5804 and I'll email it to you right away. ~Connie

When Will the Market Hit Bottom?

Bill Riss, CEO of Coldwell Banker Bain in Puget Sound, says that for those who are waiting for the market to hit a "bottom" before getting back out there, there is no such thing. "There isn't a bottom. That's a state of mind. If everyone knew when the real estate market would hit bottom, we'd all wait. Nobody would buy a house unless they had an overwhelming need." He likens it to the stock market, where, if everyone knew when stocks were going to be at their lowest, they'd all buy, and then they'd all sell at the highest point. If everyone is selling, where would the buyers be?

So, when will the market hit bottom? Let's just put it this way, on a national average, even though the media has us in "crisis" mode, real estate continues to increase by an average of 5% per year. And in Moses Lake, we've been increasing by approximately 18% per year. When will Moses Lake hit bottom? I don't think it will. It will level out, but it will continue to increase. Why? Because we have industry and businesses continuing to move into town. We have buyers who want to move here from other areas and buyers who want to move up from the homes they are in. And we have sellers.

By the way, Moses Lake has 43 homes on the waterfront on the market right now. It's a GREAT time to buy! Only eight homes for sale on the water have sold in the past eight months. Come take a look at our list of homes on the water and choose your favorite one. My listing on the water is the 7th least expensive of all the homes on the market for sale. Come check it out!

I'm looking forward to a great fourth of July. I hope you are tremendously enjoying your freedoms in America as we all should. I watch the news and see that our freedom of speech is slowly being stripped away, so be on the watch for that and get involved. SAY something.

God bless you and have a great weekend!

Sincerely,
Connie Suehiro, Realtor
509-431-5804 cell
Gary Mann Real Estate
305 E. Third Ave.
Moses Lake, WA 98837

Home for sale:
1508 Shorecrest Drive NE, 1400sf home on the water, 3 bed/2 bath, large deck facing the expansive view of Moses Lake, dock, one acre, immaculate shop, 1-car garage, garden tub in master bath, hot tub outside in enclosure, $390,000.

Land for sale:
5 acres on Neppel Road, north of town, level and sloped, view, manufactured homes okay, $65,000.

NEED:
Land and homes between Othello and Royal City. Have potential buyers.
Homes in the country in Moses Lake. Have potential buyers.

Quote of the day: "First, prepare for the future. Dedicate money to an emergency fund of three to six months' worth of living expenses so you'll be ready just in case of emergency. If there's no emergency, thank God!" Second, be a giver. "God loves a cheerful giver" (2 Corinthians 9:7)

How Much Is Your Monthly Payment?

Have you ever wanted to go online and figure out what your monthly payment is without having to input your personal information? Well, now you can!

I have found http://www.hsh.com/ (HSH Associates Financial Publishers) to be very helpful. They have amortization calculators and schedules along with other financial information. I usually leave financial expertise up to the lenders, but this time, I have a buyer who is not using a lender. The seller is going to carry the contract. So, I plugged the numbers of the offer, interest rate, and number of years in, and it came within a couple of dollars of what my buyer can afford in monthly payments.

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Gary Mann Real Estate is hosting several open houses this weekend in our Showcase Of Homes. Be sure to check us out in the Columbia Basin Herald online at http://www.columbiabasinherald.com/. Also, while you're in Moses Lake, go on out to the Grant County Fairgrounds to see the traveling Vietnam War Memorial Wall all set up. It's amazing.

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Are you interested in buying or selling a home? Please feel free to call me at 509-431-5804, and I will help you with your housing needs.

Have a great weekend!

Sincerely,

Connie Suehiro, Realtor

509-431-5804 direct

Gary Mann Real Estate

305 E. Third Ave.

Moses Lake, WA 98837

Homes for Sale in Moses Lake

There are 91 homes for sale in Moses Lake for $180,000 and less. If you'd like to have a copy of the list of those homes, call me at 509-431-5804, and I'll email it to you.

What if you don't want to buy a home that's for sale through the Multiple Listing Service? What if there are some great For Sale By Owner homes, and you want one, but you need some help? Well, for a flat fee or a percentage of the sales price, many Realtors are interested in helping.

On a FSBO that you want to buy, find out the asking price, then find out from your personal Realtor what the market value is before you make an offer. Your Realtor has been helping you all along, and it would be very appropriate for you to make sure she gets paid. After all, we need to make a living too. (Right, Cody?) :)

By the way, check out www.CodyLamb.com to meet our newest Realtor in the Gary Mann Real Estate office. You'll be glad you did!

If you need any help buying or selling a home or have a friend who needs help, be sure to call me and I'd love to help!

Have a great week!

Connie Suehiro, Realtor
509-431-5804 direct
Gary Mann Real Estate
305 E. Third Ave
Moses Lake, WA 98837

Great News in Moses Lake Real Estate!

There are currently 89 homes for sale for $180,000 and less! This is down from 95 a few weeks ago. Homes are being sold, and lenders are lending for loans. It looks like the housing crisis is on the mend, and where better to look than Moses Lake?

Also in this category, 12 homes are in pending, and 16 homes have sold in the past four weeks.

Have you ever had the opportunity to attend the local, FREE, and extremely informative First Time Home Buyers class? I attended again on Saturday to help teach, and enjoyed every minute of it! The students always have excellent questions. YOU or a friend could be the next student. It's once a month and always conducted by Eric Slyter of the North Columbia Community Action Council's Prosperity Center. The State of Washington's Housing Division is paying for YOU to go. So, set an appointment and learn all you can about buying your first home!

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What if you want to buy a house that hasn't been built yet? That's called a PRE-SALE. There are several that will be built in Ephrata. This is where you have the opportunity to choose out of a multitude of options for just exactly what you want in your house. It's like ordering a car to fit your needs, choosing your options, and then paying for it. Or, it's like going shopping and choosing your countertops, carpeting, cabinetry, walls, fixtures, size of home, two or three-car garage, and then figuring out what the final purchase price is. The negotiating part is deciding whether or not you want to spend a little more or a little less, depending on what kinds of options or upgrades you choose, to satisfy your needs and desires, as well as your budget. It's more complex than buying a home that's already been built, but it can be well worth it. Let me know if you're interested, because the first 20 or so homes built in the new subdivision are going fast, and after those are built, the base prices are going up. No time to waste.
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Have a great week and call me if you need some help buying or selling YOUR home. I will give you excellent customer service, as usual!

Connie Suehiro, Realtor (r)
Gary Mann Real Estate
305 E. Third
Moses Lake, WA 98837
509-431-5804 direct
509-765-3463 office