Support the New Hands On Children’s Museum

by MITCH DIETZ

The new Hands On Children’s Museum is now open.  This community has come to love the award winning early learning center, but you will be amazed at its new home.  It now has a space to match the huge impact its educational programs make on the children and families in our community.  Come visit the new museum and see why our company has long been a sponsor of this great community treasure!

We also invite you to contribute to this great organization. While the new museum is now open, the fundraising is not done.  The museum is still receiving donations to help complete all of the planned exhibits and programs.   There are several ways to contribute – click on this link to learn how:  3 Ways to Support the New Hands On Children’s Museum

Visit the museum’s website at www.HOCM.org to learn more about the grand opening and the museum’s tremendous programming.

Let’s Paint! – Fun in Downtown Olympia

by MITCH DIETZ

Congratulations to Leslee McComb and Kaylee Wagner on the success of their new business Let’s Paint!.  They recently opened their location in downtown Olympia.  They were represented in the real estate process by our own Brad and Deana Kisor from our commercial sales and leasing division.

Let’s Paint! is a fun and unique painting experience where you are guided through the evening’s featured painting, step-by-step by one of their instructors. At the end of your evening you walk away with you very own 16×20 personal piece of artwork!

If you are looking for something fun and different to do in Olympia, be sure to check out Let’s Paint!

For more information and full details, visit their website at: www.letspaintoly.com  or check out their Facebook page at:  www.facebook.com/letspaintoly?fref=t.

Energy Efficiency Tax Credit

If you have been considering upgrading your insulation, windows or heating and cooling system, 2013 could be a great time!

Our friends at Thurston Energy have shared information regarding an extension of a energy efficient tax credit included the American Taxpayer Relief Act of 2012 (passed by Congress on January 3, 2013).  Under the extension, homeowners can claim a $500 minimum tax credit to cover costs of energy efficient upgrades to existing homes for all taxable years.  For the full article detailing eligibility and which upgrades can be claimed, please visit: http://thurstonenergy.org/500-dollar-energy-efficiency-federal-tax-credit/.

Creativity and Innovation in Business

by MITCH DIETZ


Thanks to the Olympia Thurston Chamber of Commerce for making Coldwell Banker Evergreen Olympic Realty, Inc.,  the first company featured in its newest series on local business innovators.  Our own Ken Anderson was interviewed to discuss innovation in business, why our company is thriving despite a sluggish real estate market, and finally, what advice he has for small businesses just starting out.

Be sure to check the full article out at: https://thurstonchamber.com/?page_id=3633

We would love to hear your thoughts and feedback!

Housing Market and Affordability Strengthen in 2012

by MITCH DIETZ

The real estate market saw some good signs of health as the year 2012 came to a close.  This is great news for all of us.  This positive trend was seen over much of the country as reported by Walter Molony of the National Association of Realtors in a recent press release:

Housing Affordability Index to Set Annual Record for 2012

 WASHINGTON (January 9, 2013) – With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of Realtors (NAR).  NAR’s national Housing Affordability Index  stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power.

 An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small down payments, the affordability levels are relatively lower.

For all of 2012, NAR projects the housing affordability index to be a record high 194, up from 186 in 2011, which was the previous record. November’s reading was 2.5 index points below October, but up 1.5 index points from a year earlier.

Lawrence Yun, NAR chief economist, said home buyers are able to stay well within their means. “Although 2012 was highest on record, the excessively tight underwriting precluded many would-be home buyers from locking-in generational low interest rates,” he said. “Rising home prices and a gradual uptrend in mortgage interest rates will offset improvements in family income, but 2013 likely will be the third best on record in terms of household buying power. A window of opportunity remains open for buyers who can qualify for a mortgage.”

NAR projects the housing affordability index to average 160 during 2013, which means on a national basis that a median-income family would have 160 percent of the income needed to purchase a median-priced existing single-family home. Conditions vary widely, with the highest buying power in the Midwest. Even in the West, where the regional index is lower, they typical family is well positioned in most markets.

NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., said the minor erosion in affordability conditions moving forward could be mitigated by bank and regulatory policies. “Clearer rules from the government regarding future lawsuits and buybacks of Fannie and Freddie loans could encourage banks to use their massive cash holdings to originate more loans,” he said.

“A more sensible lending environment that makes it easier for other financially qualified buyers to get a mortgage would allow many more households to enter the market, boosting home sales as much as 10 to 15 percent,” Thomas said.