Archive for December, 2008
Vashon Island Home Finance: The 4.5% Mortgage Rate Proposal
In a continuing effort to stimulate and stabilize the housing market, the federal government has floated the idea of having the Treasury Department lower the rate on 30 year mortgages to 4.5%. This represents approximately 1% below the current rate of 5.6%. Treasury would implement the program by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac. Some have suggested that a $50 billion package is appropriate and the National Association of Realtors says the move would yield approximately 500,000 more home sales.
This action would piggy-back on the pre-existing plan to buy $500 billion in mortgage backed securities which has resulted in a surge of lower interest rates and concurrent spike in refinancing activity by borrowers . . . a 50% jump in refinancing activity in a little over two weeks. Borrowers are seeking to lock in lower interest rates in anticipation of slow recovery from the economic downturn.
While the plan might help people seeking ti buy or sell a home or to refinance an expensive mortgage, it may not help people whose credit is so damaged that banks don’t want to lend to them. The plan is not designed to change the qualifications for who gets loans. The best refinancing rates are available to those with impeccable credit – 720 or higher – as well as at least 10 – 20% equity in their homes.
However, despite the good news, the overall number of refinancings this year is only expected to be a quarter of the volume at the height of the housing boom in 2003.
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Vashon Island Continuing Events: Vashon Island Art Studio Tour; Vashon Island Drama Dock; Vashon Island Christmas Tree Sale; Vashon Island Nutcracker Ballet
Vashon Island Art Studio Tour: December 13-14
The eagerly anticipated Vashon Island Art Studio Tour will be held on Saturday and Sunday, December 6 and 7 and 13 and 14. This year’s Tour features over 30 studios on Vashon and Maury Islands, and five galleries will also be displaying the work of local artists. Guides to the Tour can be found at Vashon Allied Arts and at local businesses. The Tour also features the Vashon Island Potters’ Tour, including five potters’ studios in the program.
Galleries and Shops showing Island art include:
Café Luna: The Imaginary Tourist by Greg Wessel, pin-registered multiple-block linocut prints pressed by hand. 463-0777.
Giraffe: Photography by Jeanne Robinson. Images of everyday life in India and Vashon. 463-1372.
Blue Heron Gallery: Invitational exhibition of Masters in Miniature, showcases works from over 30 artists. Painting, pottery, wood, sculpture, printmaking, fiber and mixed media. 463-5131.
Heron’s Nest (displaying 80 island artists’ work). 463-5252.
Silverwood Gallery: Eric Heffelfinger, goldsmith, with Margaret Tylczak, Ted Kutscher, Donna Romero, Gretchen Hancock, Joy Mann, David Erue, Kristen Reitz-Green, Joanne Bohannon and Ivonne Escobar de Kommer. 463-1722.
Vashon Island Drama Dock: Musical Auditions for Honk and Urinetown
Vashon Island Boy Scout Troop 249: Christmas Tree Sale
Boy Scout Troop 249 will be selling Christmas trees on December 13 and 14 from a lot next to the US Bank. Proceeds benefit the Boy Scouts of America.
Vashon Island Junior Civic Ballet presents The Nutcracker
The annual holiday classic, The Nutcracker, will be presented by the Vashon Junior Civic Ballet from December 12 through the 20th at Vashon High School, sponsored by the Vashon Park District. For times and tickets, visit
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Relocating to the Seattle area? Why you should consider Vashon first!
Why you should move to Vashon Island!
- Just 20 minutes to Seattle by ferry or 10 minutes to Kitsap County and Tacoma
- Lower housing prices than you will find in Seattle
- Hi-ranking public schools
- 50 miles of unspoiled beaches
- Peace and privacy… average lots size of 3.5 acres
- Strong regional job market with world leaders in technology and aerospace
- A small-town community of just 11,000 residents over 37 square miles
- Natural beauty and tranquility within a short distance of one of America’s finest cities
Vashon Island Homes for Sale: Beware of Market Reports
Cindy Zetts of the Seattle Times Real Estate Section provides an important perspective on the plethora of home sale market analyses that are flooding the newspapers. She writes of three such reports that were published during Thanksgiving week, each purporting to signal trends in the market.
Vashon and Seattle home sellers are well-advised to read deeply and with some skepticism the conflicting reports of the state of the local housing market. For example, one report cited by Zetts is a national report which does not break out Seattle market data. In fact, Seattle’s housing market has performed BETTER than the national statistics for home sales and has trailed the rest of the country in the number of foreclosures. A second report cited by Zetts lumps Seattle’s housing market statistics together with California, Nevada and Arizona. In fact, the economies of each of these States is unique and bears little relevance to the many localized factors which affect the Seattle market. Finally, Zetts cites a national report which is based in changes in average, not median prices. Such data is easily skewed by extreme highs and lows in the data set and renders the conclusions of the report useless to local home sellers.
Take for example the front page article in the November 28 edition of the Seattle Post-Intelligencer trumpeting that commerical property are facing a mortgage meltdown. Commercial property has long been viewed as an indicator and precursor of trends in the local housing market. A Seattle reader might be tempted to read the article as a comment on the local commercial property market. However, close reading of the alarming article shows that it was actually pulled off the Associated Press, based in Washington, DC, recites analyses of commercial data in Michigan, Georgia, California, New York and Texas.
While this article bears notice for the prudent Seattle market participant, it is untouched by specific data pertaining to the Seattle market. In this writer’s view, it would be a travesty for the headline to adversely influence local market decisions with more Seattle-specific analysis.
Ms. Zetts has performed a timely service to Seattle area home sellers in cautioning against accepting the conclusions of these reports as a basis for making home sales or purchasing decisions. The consumers best bet is to consult with local experts with a finger on the pulse of the local housing market.
Vashon Homes for Sale: 2009 Change to Limits on Conforming Loans
On January 1, 2009, the conforming loan limit for government-sponsored loans (loans backed by Freddie Mac, Fannie Mae and the FHA) will change from the current $567,500 to $506,000 in the Seattle area, removing the opportunity for buyers seeking mortgages of more than $506,000 at low interest rates. Higher interest payments and larger down-payment requirements will soon apply to loans in excess of $506,000.
Perceptive home sellers should take note of this change in setting the listing price for the home. A house priced within the $506,000 cap will have an extra measure of attractiveness to buyers able to qualify for the government-sponsoreed loans. Further, sellers should be tuned to the fact that with home sales decresing and interest rates at historically low levers, the number of potential home buyers nationwide (and locally) has reached the highest level in more than four years. According to the NAHB/Wells Fargo Housing Opportunity Index released last week, 56.1 per cent of all new and existing homes sold were affordable to families earning the national median income of $61,500.
The Seattle region is still unique in terms of the housing inventory . . . home values may have fallen, but they are still among the highest in the country. Further, a blessing to sellers, Seattle has less inventory than many other areas of the country, which shapes the supply-demand balance. Sam Anderson, executive officer of the Master Builders Association of King and Snohomish Counties, suggests that Seattle’s diverse economy could place the region in a position to lead the economic recovery charge.
Between now and December 31 is a special opportunity for buyers to take advantage of the availabilist of an extra $61,500 of purchasing power at a time when the region’s housing market may be poised for a rebound.
Vashon Homes for Sale: Gorgeous North End Views
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Vashon Homes for Sale: Spectacular Views – Reduced Price
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Vashon Island Music: Mark Graham and Orville Johnson Teach and Play the Blues
Vashon Island Music Studio: Harmonica and Slide Guitar Workshops
On Saturday, December 6, the Vashon Island Music Store presents two outstanding blues workshops. From 10-12, Mark Graham leads a session on blues harmonica. From 1-3 Orville Johnson will host a session on blues slide guitar. Each session costs $25. Pre-register with the Vashon Island Music Studio at 463-0552.
Mark and Orville are staying to perform a concert at the studio at 7 pm. Admission is $15.
Vashon Music Events at the Red Bicycle Bistro
Hosted by Vashon’s own Steffon Moody. FREE COVER!
12/04/2008 – Starts at 08:00 PM
Thursday Comedy! Comedians Michael Agostini and Riggs
Mike Agostini was an usher at The Paramount Theater in 1983. That year the finals of The Seattle International Comedy Competition were held at the Paramount. The 23 year old usher briefly talked to that year’s champion – Ross Shafer – and a dream was born. For the next 21 years Mike Agostini told himself that one day he would be in the competition!
In December of 2004 Mike stopped wishing and went on stage for the first time at the Tacoma Comedy Underground. Since that day he has entertained literally thousands of people with his stand-up. Mike uses his life experiences as the foundation for most of his material. He is extremely likeable and actually appears to be having as much fun as his audience !
Riggs got his start on KGRG’s “Mornings With Bill” radio show. After years of interviewing comedians and attending shows, He decided that it was much easier to get up at 5 p.m. than 5 a.m. and promptly made the change to stand-up comedian and has never looked back. Riggs quickly rose among the ranks to enjoy success in a variety of venues, becoming a local favorite.
With a cutting edge, sarcastic and unique perspective on a wide variety of topics and social issues. His stoic character and winning personality have made him a favorite at clubs, colleges and casinos. Riggs recently competed in the prestigious San Fransisco Comedy Competition. He is relatable and funny. If you want to look at life a little differently, don’t miss Riggs’ act. You will laugh out loud.
Show starts at 8pm. Free cover!
Robyn Landis is a gifted wordsmith and award-winning songwriter. Her deft and powerful command of language has garnered repeated comparisons to Rich
ard Shindell, Gillian Welch and Dar Williams, and a reputation among fellow songwriters as “an amazing lyricist.”
Noted for her honesty, depth and intelligence, Robyn uses song to tackle subjects ranging from war to weather to (what else?) love–with a distinctive and articulate voice. With a writing approach that is courageous, literate and heartfelt, Robyn delivers her incisive insights through pure, intimate vocals and pleasing melodies.
Since 2005, Robyn has accrued more than 35 songwriting awards and honors nationally and internationally, in competitions and at festivals. Indie-Music.com says, “Smooth vocals, like an earthy Laurie Lewis…Landis has won a lot of songwriting awards, and it’s easy to see why.”
Olivia De La Cruz, bo
rn and raised in the small town of Lake Chelan, has been singing since she was five years old. Climbing up on tables to make sure she could be seen and heard, she immediately hushed audiences the moment she opened her mouth.
Picking up a guitar when she was 16, she immediately started performing at local coffee shops and wineries for tips. After writing her first song at 18, she provoked and enticed her audiences with the clarity of her voice and chords of her guitar. Her lyrics are intertwined with the life experiences of love, loss, and sense that she has experienced thus far. Her old soul demeanor has attracted various groups of individuals that enjoy the way her guitar becomes a part of her body as it moves with each sway and pitch. Her life description cannot be identified as anything less than “entertainer”. If you were to ask the individuals that came to Tsillan Cellars summer of 2008, her job was to serve, sing, and play for customers and have them leave with an overwhelming sense of satisfaction.
Her songs have evolved from charming and pleasant to poetic and intriguing. Her first CD, “A Learning Curve”, was completed July of 2008 and she is now in the studio working and modifying new tracks for her second album to be released. Olivia will be opening up for Robyn Landis tonight, so please…come out and give her a warm Vashon welcome. 21+ FREE COVER!
12/05/2008 – Starts at 07:00 PM: Robyn Landis and Olivia de la Cruz
12/06/2008 - Starts at 09:30 PM – Red Jacket Mine
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Led by singer/songwriter Lincoln Barr, Seattle band Red Jacket Mine has spent the last two years perfecting its singular brand of twilit pop—equ Begun as a solo four-track project to satiate an overactive mind trapped in the barren hill country of southeast Missouri, arrangements have grown more ambitious and tape hiss levels have mercifully fallen, but Barr’s vivid lyrical imagery and melodic songcraft have remained constant. Joined in Seattle by fellow Missouri transplant Andy Salzman (drums), Seattle rock veteran Patrick Porter (guitar/pedal steel), and Idahoan jungle cat Ryan Chapman (bass), Barr’s dreams of Red Jacket Mine-as-real-band finally became reality, and the band set about honing its craft in a series of increasingly high-profile club gigs while Barr penned the songs that would comprise their debut studio album. Recorded at Seattle’s Studio Litho by producer/engineer Shawn Simmons, Hello, Old Cloud delivers on the promise of Red Jacket Mine’s early recordings and impassioned live performances. Featuring an impressive array of guest musicians, including upright bassist Keith Lowe (Bill Frisell, Fiona Apple), keyboard whiz Paul Hiraga (Downpilot, Ian Moore), and renowned string arranger Eyvind Kang (Blonde Redhead, Laura Veirs), the album was released in April 2008. The band is currently working on a follow-up with producer/contributor Ken Stringfellow (The Posies/R.E.M./Big Star). Nathan Wade & The Dark Pioneers are Seattle’s purveyors of apocalyptic Americana, hitching the rusted scraps of American roots music to a battered pick-up truck and dragging it across a broken 21st Century landscape. It’s a cinematic trip down a desolate highway as the dashboard rattles apart and the truck radio blasts songs of murder, drug abuse, and Biblical arcana. Their new album, The Chroma Session EP, was recorded live at Chroma Sound Studio in Seattle. It’s an electrified, slash-and-burn reinvention of songs from Nathan Wade’s debut album, The Dead Leaves Sing, along with a double-barrel shot of new music. The Chroma Session EP stands as a bullet-riddled mile marker on the road to musical armageddon, a future the band is driving into at high speed; behind them, a blood-red sun settles in the dust they’ve left behind. 21+ FREE COVER! |
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FREE COVER! Bob’s Your Uncle is comprised of mostly teachers with a couple of other folks mixed in. On banjo/vocals is Rochelle Wolfe (Elementary PE teacher), on guitar/vocals is Ken Larsen (5th grade teacher), on bass is Bruce Haulman (History Professor), on mandolin/guitar/banjo/vocals is Paul Colwell (Paraeducator at VHS). Rounding out the band on the non-teaching side on fiddle/vocals is Randy Bruce and on dobro/vocals is Wilson Abbott. Bob’s Your Uncle formed in 2002 to play a St. Patrick’s day gig and have been together ever since. They play just about anything they can that fits their instruments and voices thus “Bob’s Your Uncle” meaning from the U.K. “whatever”, or “there it goes” was named. All Ages.FREE COVER! |
12/07/2008 – Starts at 07:00 PM Bob’s Your Uncle
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Vashon Island Art Studio Tour: December 6-7 and 13-14
Vashon Island Art Studio Tour: December 6-7 and 13-14
The eagerly anticipated Vashon Island Art Studio Tour will be held on Saturday and Sunday, December 6 and 7 and 13 and 14. This year’s Tour features over 30 studios on Vashon and Maury Islands, and five galleries will also be displaying the work of local artists. Guides to the Tour can be found at Vashon Allied Arts and at local businesses. The Tour also features the Vashon Island Potters’ Tour, including five potters’ studios in the program.
Galleries and Shops showing Island art include:
Café Luna: The Imaginary Tourist by Greg Wessel, pin-registered multiple-block linocut prints pressed by hand. 463-0777.
Giraffe: Photography by Jeanne Robinson. Images of everyday life in India and Vashon. 463-1372.
Blue Heron Gallery: Invitational exhibition of Masters in Miniature, showcases works from over 30 artists. Painting, pottery, wood, scukpture, printmaking, fiber and mixed media. 463-5131.
Heron’s Nest (displaying 80 island artists’ work). 463-5252.
Silverwood Gallery: Eric Heffelfinger, goldsmith, with Margaret Tylczak, Ted Kutscher, Donna Romero, Gretchen Hancock, Joy Mann, David Erue, Kristen Reitz-Green, Joanne Bohannon and Ivonne Escobar de Kommer. 463-1722.
Vashon Island Movie Theater Presents “FUEL”
Vashon Island Movie Theater: “Fuel”
The Vashon Island Movie Theater presents “Fuel” on Sunday, December 7 at 7 pm.
The film is a documentary about the bio-diesel fuel industry and deserves consideration by alternative-fuel fans. The following statenment appears on the FUEL website:
“On November 21 Josh Rosenblatt made a mistake. The moonlighting movie critic for Austin’s weekly “hip” newspaper decided to write about FUEL as if he had just cashed a big fat check from a major oil company and was now doing the dirty work of an eco-smackdown. Having missed the point of the film and perhaps the majority of its content, Mr. Rosenblatt referred to the movie as “not a movie. It’s a two-hour infomercial for biodiesel that somehow managed to escape from whatever environmental convention at which it was supposed to quietly screen and is now making its way to local theatres, perhaps to play as one-half of a double feature with Your Friend the Carbon Offset.” It’s unclear from his review whether or not he actually watched the movie, or just recited something he read on the internet.
Rosenblatt may have some credentials worth noting. First, he’s certainly been to see movies at theaters. Second, he’s been critiquing movies for 3 years, since he got a B.A. and third, he likes comic books, cartoons and action adventure films. While these credentials are enough to enable him and the Austin Chronicle to actually discern, what is and indeed what is not a movie, the Austin viewing public isn’t buying Rosenblatt’s smack.
Almost immediately after the Austin Chronicle “review” appeared, viewers began writing back – with their own reviews of FUEL, of the paper and of its movie critic. The comments are worth reading – they range from “the reviewer seems to have missed the second half of the movie…” to “This review has almost nothing to do with the film itself. It should be qualified with ‘Josh [Rosenblatt] had a deadline and a hangover’.” and to “NOTE TO ADVERTISERS – If you really want to make a difference, pull your ads from this fishwrap of a paper!” You gotta love the public – they keep you honest.
Vashon Island Events: Xmas Trees, The Nutcracker, A Celebration of Carols
Vashon Island’s Drama Dock has put out a call for auditions for two musical productions: Honk and Urinetown. Auditions will be held at the Vashon High School band room in the F Building. Auditions are on December 13 from 10-3 and on December 14 from 12-4. Call Phil Dunn for more information at 463-1849.Vashon Island Drama Dock: Musical Auditions for Honk and Urinetown
Vashon Island Boy Scout Troop 249: Christmas Tree Sale
Boy Scout Troop 249 will be selling Christmas trees on December 13 and 14 from a lot next to the US Bank. Proceeds benefit the Boy Scouts of America.
Vashon Island Junior Civic Ballet presents The Nutcracker
The annual holiday classic, The Nutcracker, will be presented by the Vashon Junior Civic Ballet from December 12 through the 20th at Vashon High School, sponsored by the Vashon Park District. For times and tickets, visit
Vashon Island Chorale: Carols
Vashon Island Chorale continues their traditional presentation of “A Celebration of Carols.” Performances are slated for 7:30 pm Saturday, December 6, and 3 pm on Sunday, December7, at Bethel Evangelical Church. The 75 member choir will be joined by a 15-piece chamber orchestra. The performance will include Vaughn Williams “Fantasia on Christmas Carols” and “A Christmas Garland” by Conrad Susa.
Bethel Church is located at SW 158th Street and 119th Avenue. Tickets are $12.50 or $10 for students and seniors and available in advance at Books by the Way and the Vashon Bookshop.
Ask Kyle: Home Mortgage Interest Rates at All Time Lows
Recent interest rate drops have everyone wondering what exactly is required to qualify for those low fixed rates. Interest rates are as low as 5.125% on 30yr Fixed loans. No, that’s not a typo and it’s not too good to be true.
It’s an excellent time to buy or refinance if you can qualify.
Lenders are looking for:
- Full Documentation… Income documented through W2’s & Pay stubs (2 yrs Tax Returns for those who are self-employed).
- Lower Loan to Value (LTV’s under 80% preferably)
- Credit scores of 680 +
It doesn’t sound like too much to ask for to qualify for fixed interest rates in the low 5% range. Over the last few years homeowners have been able to qualify with little in the way of income documentation. We’re back to basics with the current lending environment. There are only a few exceptions that will allow for stated income or low documentation loans.
The good news is that these historic low interest rates are available and should be taken advantage of. Give me a call to discuss your individual scenario…
Kyle B. Bailey
Mortgage Planner
Direct: 425.673.8227
Cell: 425.293.5371
Fax: 480.287.8704
kbailey@golfsavingsbank.com
Vashon’s Cafe Luna: Vashon Art Studios Tour, Timothy Bertsch
Saturday, December 6th, 7:30 PM
All original acoustic compositions performed on rare, antique harpguitars and guitars.
