Archive for October, 2008
Vashon Housing Market: Fall and Winter Home Sales
Despite the commonly held belief that Fall and Winter are tough sledding for home sales, the reality is that buyers shop for homes year round. It may be a mistake to pull a house off the market. Agents say that fall often brings out more “serious” buyers who need to find a home right away. There may be less competition for those buyers because many sellers aren’t willing to stick out the winter. Fall presents a good opportunity for the savvy seller to regroup and reconsider their list price. In Seattle, with the end of fine outdoor weather, Fall presents an opportunity to focus on home upgrades that distinguish their listing.
Vashon Home Finance – ARMs may make sense
The New York Times reports that adjustible rate mortgages, often dismissed by consumers, may still make sense in some instances. Where a home buyer does not intend to remain in a home for more than seven years, the ARM offers a relatively lower interest rate to the standard 30-year fixed. In today’s market, rates on bigger mortgages are giving buyers cause to consider ARMs, particularly where a buyer needs to go to lenders for jumbo loans that cannot be sold to Fannie Mae and Freddie Mac. The threshold figure for a jumbo loan in King and Snohomish Counties is $567,000, slightly above the median price for home sales in the region.
For purposes of comparison, current interest rates on a 30-year fixed hover around 7.5%. A $750,000 house would require a $5249 monthly payment. However, a 5/1 ARM, in which the rate remains fixed for 5 years and then adjusts every 12 months pegged to a market index, could get an initial interest rate of 6.56% resulting in a monthly payment of $4770, a savings of $479 per month.
After the initial 5 year period, however, the interest rate, and house payments, may rise (as much as 6 points!!!!) or fall.
Vashon Home Finance – Reverse Mortgages
For homeowners 62 and older reverse mortgages holds appeal as a method to access home equity and generate much-needed retirement income. The loan typically does not have to be repaid until the last surviving borrower lives in the home or until the house is sold. The loan is generally not taxable and does not affect Social Security or Medicare benefits.
However, the loan has several downsides for your consideration. Closing costs and fees are steep and if you are thinking of leaving your home in two to three years, this is not a financially desirable way to extract money from your house. A home equity loan may be a cheaper option.
Currently the limit on a reverse mortgage is $362, 790. Unfortunately, loan interest is usually variable and compounds, favoring the lender and not the borrower. Borrowers should expect to pay for an appraisal, a credit report, title fees and recording fees.
Vashon Home Finance: Mortgage Loans Available
Can you still get a home loan with less than a 20 or 30 percent down payment? Or with a credit score below 720? Absolutely! There is no shortage of money for home mortgages, no freezing of credit to purchase or finance a house, because the mortgage market has effectively been federalized. More than 90% of new loans are now made through the Federal Housing Administration insurance program. The FHA has unfettered access to the global capital markets and their borrowings are fully guaranteed by the U.S. Treasury.
You can still put down 3% (note 3.5% after January 1) on an FHA insured mortgage. FHA credit standards are generous and forgiving.Scores in hte upper 600s can still qualify for reasonable rates and fees. Maximum loan amounts continue at $729,750 until January 2009 when the max is projected to dip to $625,000.
Voice of Vashon: Vashon’s Internet Radio and Public Access Television
Voice of Vashon is an independent Community Internet Radio station and Public Access Television station located on Vashon Island in Puget Sound, in the State of Washington. Radio content is intended primarily for its Island audience of 11,000 souls or so, but everyone everywhere is invited – even encouraged – to listen in on the Internet and see what Voice of Vashon, is putting down. Television content is currently limited to cable subscribers on Vashon and Maury Island.
It’s on the air right now at 1650 AM. To the FCC, we’re known as WQHK904. Here on the Island, you’ll know us as Voice of Vashon Standing By.
The name serves as a kind of statement of purpose. Should disaster strike, such as an earthquake or even another serious windstorm, there will be information you need: What roads are closed? When will the ferries run again? Where can I find emergency shelter? How do I get potable water?
In such a scenario, Voice of Vashon Standing By has generator power and radio links to the Emergency Operations Center, which would allow our trained volunteers to go on the air live to pass you the information you need over 1650 AM the moment it comes to us.
For more information, including VOV’s programming schedule, click on Voice of Vashon.
Vashon’s Granny’s Attic: A Treasure Trove
“You never know what you’ll find at Granny’s!”
An extraordinary thrift store that supports our Vashon Health Center. Health Center Volunteers recycle donations of clothing, housewares, furniture, electronics and much more, to make them available to the community at bargain prices. Profits directly support the Health Center and other medical-related needs. For information on donations, volunteering, events, donating a car, click here Granny’s Attic.
Granny’s Attic is located at Sunrise Ridge off of the Vashon Highway, across from the Blue Heron. Call (206) 463-3161.
Vashon Exercise Class: Blue Heron
Vashon’s Blue Heron is sponsoring a fusion exercise class on Mondays and Fridays from 9:30 – 10:45 am. For more information call 463-5131.
Vashon Film Society: Alaska Far Away
The Vashon Film Society is presenting a fascinating film, Alaska Far Away, at the Vashon Theater on Sunday, October 26, at 7 pm. The film is a documentary about a Depression Era social experiment in which the federal government established a cooperative farming community in Alaska. There will be a Question and Answer Session following the presentation.
Think Green: What Is Prosperity…. Really?
As someone dedicated to healing the epidemic of scarcity consciousness and the consumerism it fuels, I’m excited about answering the essential question “What is prosperity?” You know, it’s taken me years to get clear about its meaning, because the ways in which we define language change as we change.
As a young girl in Southern California, I had a significantly different idea about prosperity back then, as I do now. And there’s something I want to point out before I go any further, and that is we’re not talking about some rigid dictionary meaning here, but a fluid and evolving understanding of the power of language to define yourself.
In other words, I’m going to share what prosperity means to me, but I don’t want you to take it as anything other than my opinion. Instead, I’d encourage you to define or even redefine prosperity for yourself. Because, after all, it’s what you think that makes the difference.
I think it’s fair to say that American culture has essentially equated getting rich with being prosperous. In fact, there’s a strange irony when you consider that while much of the world believes the United States to be extraordinarily affluent, the hard statistics show that we are currently facing record-setting national debt and personal bankruptcy. It’s about time for new meanings and new methods.
The dictionary defines prosperity as: The state of being successful, thriving or wealthy. And there you have it. If you remember anything at all from this article, let it be this: Prosperity is not something you have, it’s something you are. By definition, it’s a state of being rather than an amassing of what you can buy, or store, or covet or lose.
To be prosperous is about merit, not material. To be successful is to enjoy personal power, not purchasing power. And to be a wealthy is to be healthy and whole; to have a presence about you, and to own your own brilliance, your own joy and to be fully autonomous, fully free to pursue the happiness you seek.
It seems that the ways in which my ideas about prosperity have changed is not so much a function of aging as it is of maturing. By that I mean that how I define success is more holistic than ever before. And I’m curious if the same thing isn’t true for you. Do you feel successful when you are tired and stressed out and overwhelmed? Does what you have in the bank ever make a difference when you get to that burned out stage?
Yours truly was the poster girl for the Superwoman Syndrome. By the age of 30, I’d started my third business, was deep in the throes of an eight year do-it-yourself remodel, all while taking courses and doing volunteer work. My motto was “If it is to be, it’s up to me.” Everyday I got up and lived my list. But no more! Now I get up and live my life. I choose the sweetness of being human over the habitual desire to do more.
And the thing is that choosing your self is the key that unlocks what’s possible. When you are willing to stop getting and stop going, you have an invaluable, precious opportunity to uncover the reasons why you put yourself last. It’s a journey; a long and winding path from merely surviving to really thriving. Welcome, you’re not alone…
It was Earl Nightingale who said “We must be the epitome, the embodiment, of success. We must radiate success before it will come to us. We must first become mentally, from an attitude standpoint, the people we wish to become.”
What do you think?
Joyanne
Vashon’s Free Range Folk Choir
New Choir to Celebrate World Music
The Vashon Folk Choir welcomes new singers to join its energetic and eclectic ensemble. Rehearsals begin at 7pm on Monday, October 27 at the Episcopal Church. Under the direction of Shane Jewell, the choir celebrates the ways that music from around the world can lift the spirit and cultivate community. The fall season’s set-list will include styles from Gospel to Slavic, African to Americana. Individuals, couples and families with children (ages 10 and up) are all encouraged to join. No auditions are required, just enthusiasm for singing music that enlivens the soul.
Jewell brings to the new choir over 17 years of experience performing, arranging, and teaching classical, folk, and acappella music. Trained at the Oberlin Conservatory in Ohio, he has learned from and performed
with traditional musicians throughout the US, Ireland, India, the Philippines, Canada, England and Mexico. For more information contact Shane at 463-0778 or shanefiddle@gmail.com.
Stunning Vashon View Property: Build Your Dream Home
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About Vashon Schools
The Vashon Island School District is located on Vashon Island in the center of Puget Sound. The school district is one of 35 King and Pierce County school districts affiliated with the Puget Sound Educational Service District, a regional support educational agency. Vashon Island is a beautiful place to live, and has the unique advantage of offering a rural lifestyle with access to the greater Seattle-Tacoma area. Vashon Island is comprised of a population of approximately 11,000 residents during the school year. During the summer months, the island is a popular outdoor summer residence and tourist retreat for boating, water sports, and other outdoor recreational activities. At the northern tip of the island there is access to complete ferry service to West Seattle (Fauntleroy), foot passenger/bicycle only service to Coleman Dock in Seattle, and service westward to Southworth on the Olympic Peninsula. The southern tip of the island accommodates the ferry route to Point Defiance in Tacoma.
The community has high academic expectations for the school district and has supported its maintenance and operations levy over the last twenty years, as well as a capital bond of $20.1 million in 1990. In 1997, voters passed a 4-year replacement maintenance and operations levy which will provide funding stability into the 21st century. In addition, several local organizations, including Partners In Education, a Parent/Teacher/Student Association, Vashon Allied Arts and the Vashon Community Scholarship Foundation contribute generously to support students and the schools.
Vashon Island School District has about 1,600 students who are served in three facilities: Chautauqua Elementary School (pre-primary through grade 5); McMurray Middle School (grades 6-8); and Vashon Island High School (grades 9-12). In addition, our district offers FamilyLink and StudentLink designed to provide programs for learners outside the traditional school setting. The annual general fund is about $10 million, of which approximately twenty percent is raised through local school district levies approved by Vashon voters. Our small District size is a major advantage in providing small class sizes and personalized services to students and parents.
Community, board members and staff encourage an exploration and development of innovative curricula that will enhance each student’s learning experience. Curriculum plans assure thoughtful and continuing planning and articulation of the K-12 program. There is a high rate of volunteerism to assist in various capacities throughout the system. A full complement of student services is available.
Dance Program for Kids
Stacey Hinden will teach two new dance classes for kids this fall. Weekly modern dance classes for kids age 6-9 blend improvisation skills, sensory awareness and anatomy for the dancer. There will be studio showings throughout the year. Classes meet from 3 – 4 pm Thursdays.
A modern dance troupe for kids 10 and older will also form. The class will feature four performances and is a fun movement class and will meet from 4 – 5 pm on Thursdays. Both classes begin October 16 and run through June 11 at the Havurat Ee Shalom at 15401 Westside Highway. Cost is $300. Contact Hinden at 227-5534.
Vashon Events: Halloween Poetry Reading
Halloween will be the theme of the next poetry open mic at Cafe Luna, at 7 pm Thursday October 16. Participants are encouraged to bring a poem or short story to read. The first part of the evening is reserved for school-aged writers so offers literary fun for the entire family!.
Documentary Film “Uncounted”
“Uncounted” is an explosive new documentary that contends that the election fraud that changed the outcome of the 2004 election led to even greater fraud in 2006 . . . and now looms as an unbridled threat to the outcome of the 2008 election. The film is particularly salient in view of allegations that the ACORN activist group with ties to Barack Obama has fraudulently registered voters throughout the country. The Vashon Youth Council will host the viewing at the Vashon Theater at 7 pm, Thurday, October 23. An admission donation of $10 will support the Youth Council. Call 463-7350 for details.
Vashon Home Buyer Remodeling Advice
The current economic downturn has provided homeowners with an excellent opportunity to take on home renovation and maintenance projects at competitive rates. The National Association of Home Builders estimates that spending on such projects will drop 4 percent this year as compared with 2007. Contractors are currently bending over backwards – even for small jobs such as bathroom renovations and cabinetry – in order to stay afloat. Because homeowner equity is shrinking, fewer remodeling jobs are scheduled and it is a buyers’ market. Until the economy stabilizes, this is an excellent chance to take on deferred projects that will enhance the value of your home.
Vashon v. King County Real Estate Statistics 2007-2008
Vashon King County 
Closed sales 9/07 14 1697
Closed sales 9/08 12 1415
% change -14.3% -7.8%
Median price 9/07 $471,500 $477,345
Median price 9/08 $484,750 $415,000
% change 2.8% -7.8%
The number of houses bought and sold on Vashon are relatively few compared with the larger population of King County homes to draw precise conclusions. However, it is fair to say that Vashon is tracking King County in trends pertaining to fewer transactions occurring and the median prices of homes which are selling. Vashon and Eastside Seattle are comparatively similar in keeping stable median prices compared with 2007. Given the dramatic negative changes in median prices throughout the region, Vashon homes are holding their market value relative to 2007.
Vashon Mortgage News
The slide in home prices across the country has left one in six, or 16%, of U.S. homeowners owing more on a mortgage than their home is worth in the marketplace, raising the possibility of a rise in defaults. With governments around the globe scrambling to shore up stock markets and banks, there is little certainty that the situation will improve in the near term. There are few alternatives available to distressed homeowners seeking to refinance or sell their homes when their mortgages are greater than home value. Foreclosed upon homes have an impact on the value of surrounding homes in a neighborhood. For an excellent summary of the mortgage market, see The Seattle Times, Sunday October 13, p. D4.
Letters from Vashon: Afro-Brazilian Drum Circle
Jeff Johns teaches world percussion on Vashon. He is a fine teacher . . . amazing in fact, for his ability to develop five percussion parts among his new students and somehow keep them all on track. A student on conga might stray from a Samba beat and Jeff will pull him back into the rhythm. Two sudents, one on shaker and one on tamborim, might head in opposite rhythmic directions and Jeff will call one and then the other back to the groove. It is a gem of non-verbal communication.
On special nights, a group of dancers will gather before the class and add movement to the rhythms.
The students for the class gather from all over Vashon and I am looking forward to meeting them and getting to know them better . . . perhaps an encounter at Thriftway or Cafe Luna will lead to conversation beyond divisions of four beats. For now, we all gather at 6:30 on Monday and quietly follow Jeff’s instruction, laughing as we overload on polyrhythm. As the class ends, stunned by the amount of information we have absorbed, we quietly return to our separate lives.
The music community on Vashon drew me here after Hurricane Katrina filled my house with Lake Ponchartrain. Though I knew Vashon was a mecca for musicians and artists, I never imagined that the offerings would be so rich and deep.
Music has always been an opportunity to communicate non-verbally with people. Whenever I travel I always carry an instrument with me . . . mandolin and fiddle to Sao Paolo, Scotland, Iceland and back and forth across the U.S. Melody and rhythm transcend cultural differences. The connection between a musician and a listener is one of trust and mutual enlightenment.
There is a marvelous (and true) story of the opposing factions in the trenches during World War I stopping their aggression on Christmas Eve to sign a few carols together. The military units on both sides were subsequently disbanded because their fighting spirit had been compromised.
So . . . to my new friends in the Afro-Brazilian drum circle . . . in the band Resonance . . . and those to be discovered, it is a pleasure to meet you.
Chip
Vashon Island Pet Protectors Hold Garage Sale
The Vashon Island Pet Protectors will hold its fall garage sale from 9 am to 3 pm on Saturday, October 18 and from 10 am to 1 pm on Sunday, October 19, at the Firefighter’s Association Building on Bank Road. Donations accepted on Friday, October 17. For more information call 463-5381.
