The Puyallup City Council discussed dogs on athletic fields last night, and voted to kick ‘em to the curb. It seems that some dog owners around town have been letting their dogs leave presents for ball players to find at an inconvenient time. Council Member George Dill was quoted as saying, “It’s that you don’t want to slide into second base and have a pile at second base.” Dill, along with Brouillet, Deal and Turner voted for the ban, while Hansen and Knutsen voted against it.

As a responsible dog owner, I feel ostracized by this ordinance. I take our beagle Zoie to Bradley Lake Park from time to time, but I don’t let her run free around the baseball diamond, and I always have a disposable sack with me to take care of her stuff. This new ordinance carries a $100 fine, so I guess Zoie and I will be heading to South Hill to enjoy some of the Pierce County parks instead.

Why can’t we start with posted signs asking dog owners to be responsible, or to stay off the ball fields? Why do we have to go straight to banning dogs altogether? What do you think the Council should do? Do you agree with the Council, or would you propose some interim solution? Let ‘em hear ya.

Current Price Trends
June statistics just released by the NWMLS show a decline of the median home price for Puyallup to $260k. This represents an almost 13% decline in the year-over-year median home price for the Puyallup real estate market. We still hope to turn the corner this fall but consumer pessimism is gaining a strong foothold. Increasing numbers of short sale and bank owned properties appear to be depressing prices. Sellers need to assess their true need to sell before entering this market.

The average cumulative days on market - total time a home is for sale, from listing to closing - moved down again to 142 days from 152 days the previous month. The average sale price to original list price ratio moved down for the second month to 94%.

Market Activity
The NWMLS made a significant change in statistics reporting this month which resulted in a conversion of Active inventory to Pending sales. This change masked true market trends by entering an artificial component into the statistics. The new reporting methods will be consistent going forward, but we can’t take to heart what we’re seeing this month. Regardless of this change though, inventory to sales ratios and a significant drop in the number of sales to 96 - a number not seen since December - continue to show market weakness.

* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.

Current Price Trends
June statistics just released by the NWMLS show the median home price for Pierce County steady at $265k. It appears that the Pierce County real estate market is largely unaffected by increasing numbers of short sale and bank owned properties. Although the flat trend continues, year-over-year median price is down almost 9%.

The average cumulative days on market - total time a home is for sale, from listing to closing - moved down again in seesaw-like fashion, to 138 days from 145 days the previous month. The average sale price to original list price ratio stayed steady at 94%.

Market Activity
The NWMLS made a significant change in statistics reporting this month which resulted in a conversion of Active inventory to Pending sales. This change masked true market trends by entering an artificial component into the statistics. The new reporting methods will be consistent going forward, but we can’t take to heart what we’re seeing this month. Regardless of this change though, inventory to sales ratios continue to show market weakness. Sellers need to assess their true need to sell before entering this market.

* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.

What a facinating time in the mortgage industry with Fannie Mae and Freddie Mac faltering, the Federal goverment is stepping in to save these mortgage giants.   This news is providing a much needed boost of confidence to mortgage backed securities and rates are reflecting a nice improvement.   With what has been going on in the mortgage industry, conforming (Fannie/Freddie) loans will continue to have tighter underwriting.   I predict that products that offer interest only payments or adjustable rate mortgages may soon be unavailable.  If you’re interested in taking advantage in one of these programs, you may want to take action sooner than later.

If you are considering buying a home within the next year, I recommend that you begin the preapproval process as soon as possible to make sure you’re in the best position possible.   Also, make sure you’re working with a Mortgage Professional who is experienced with FHA mortgages and has them available for you in the event you need a “plan b”.   I’m finding that more and more borrowers are needing FHA mortgages due to tougher guidelines with conforming.  Lending is not going to get any easier.

Mortgage rates below, with the exception of FHA and VA, are based on a mid-credit score of 720 or better.  FHA and VA rate quotes are based on a mid-credit score 620 or better.  For more details on how these mortgages are priced, please visit this post.   Rates can be priced with or without points, for your personal rate quote, please contact me or your local Mortgage Professional.

Mortgages with loan amounts up to $417,000 for Single Family Dwellings

Conforming 30 Year Fixed:   6.375% @ 0 Pts. (apr 6.189%)

Conforming 30 Year Fixed with 10 Year Interest Only Payments:  6.625% @ 0 Pts. (apr 6.561%)

Conforming 5/1 ARM:  5.375% @ 1 Pt. (apr 7.028%)  ~  5.750% @ 0 Pts (apr 6.939%)

*

Mortgages with Loan Amounts from $417,001 - $567,500 for Pierce, King and Snohomish Counties.   Note:  this temporary loan limit is in effect until December 31, 2008 (as is the FHA Jumbo).

Conforming Jumbo 30 Year Fixed:  6.500% at 0 Pts (apr 6.556%)

Conforming Jumbo 30 Year Fixed with 10 Year Interest Only Payments:  6.875% (apr 6.935%)

Conforming Jumbo 5/1 ARM:  5.625% at 1 Pts (apr 7.036%)

*

Jumbo (Non-Conforming):  7.500% @ 1 Pt. (apr 7.963%)  ~  7.750% @ 0 Pts (apr 7.531%)

*

FHA 30 Year Fixed (loan amounts up to $362,790 for Pierce, King and Snohomish Counties): 

6.250% @ 1 Pt (apr 7.032%)

FHA Jumbo (loan amounts up to $567,500 for Pierce, King and Snohomish Counties–loan limit valid until December 31, 2008):  

6.375%  @ 1 Pt (apr 7.160%)

*

VA:  6.375% @ 1 Pt (apr 6.578%)

Rates posted are as of July 14, 2008 at 9:00 a.m.   Rates may and do change constantly.  To see live rate quotes, follow me on Twitter.  

Rates quoted by Rhonda Porter, CMPS and Licensed Loan Originator 510-LO-32047 with Mortgage Master Service Corporation.

U.S. Senator Patty Murray (D-WA) announced yesterday that she has included $5,775,000 million for Pierce County transportation and housing projects in the Fiscal Year 2009 Senate Transportation, Housing, and Urban Development (THUD) Appropriations bill. As Chairman of the THUD Appropriations Subcommittee, Senator Murray uses her position to invest in community-backed Washington state projects that may not otherwise receive federal support.

Included in that bill is $2,000,000 for the Shaw Road Extension Project in the City of Puyallup that ceremoniously broke ground on September 6th, 2007. This project will improve 1,000 linear feet of the existing Shaw Road alignment to add sidewalks, bike lanes, and turn lanes at the Pioneer intersection.  This extension will relieve congestion by creating a new route functioning independently of the BNSF line.  It will increase safety and capacity to the city’s arterial network, as well as enhance regional freight mobility, and facilitate increased and safer railway usage.

The THUD Appropriations bill was approved in Senator Murray’s THUD Committee on Tuesday and is expected to be approved by the full Appropriations Committee today. It will then move to the Senate floor.

According to WSDOT, once completed, the extension will open up a new access point to State Route 410 and 167 from South Hill and Southeast Puyallup. The project is not only beneficial to Puyallup because it provides a north south corridor that will help alleviate traffic congestion on Meridian (SR 161), it also provides mobility improvement for rail and truck freight and compliments other area transportation projects.

From our Newsletter:

While yards were once the domain of swing sets and barbecues, today’s homeowners are turning the great outdoors into additional living space, complete with comfortable furniture and decorative lighting. This trend is so popular that the U.S. Census Bureau shows one-third of nearly $150 billion Americans spent on home remodeling in 2005 went to outdoor living areas; that’s money that will often yield a good return on investment when it comes time to sell.

Where to begin?
Designing an outdoor space is much like designing a room in your house—you’ll want to think about the space’s purpose, appropriate furnishings, décor and dimensions, which can be defined outdoors in much the same way a room’s floor, walls and ceiling define them indoors. You’ll also want your new space to flow from the aesthetic of the rest of your home. For instance, a Spanish Colonial home is best complemented by a patio or terrace of the same style, in colors and materials that are true to the era.

Consider the function of your new “room.”
Think about what you will use the space for. Is it principally for entertaining? For contemplative moments with a good book? For family dining? Will you be enjoying it primarily in the evenings, or by day? These considerations should drive the design of your space.

When space permits, you may want to incorporate seating areas for more than one purpose. Upright chairs are ideal for dining, but you’ll want some more relaxed and comfortable seating arranged in intimate groupings for conversations or reading. For lounging by the poolside or catching a nap, chaise lounges and hammocks work wonderfully.

You’ll also want to consider placement. Seating areas should offer the best views, while barbecues, chimneys and other fire-containing items should be kept away from flammable brush, grass and structures, and away from windows that might carry the smoke indoors.

Establish boundaries.
You may not have thought of your outdoor area as having a floor, ceiling or walls, but defining your space can go a long way towards making it feel like a natural extension of your home.

There are almost as many types of outdoor flooring available today as there are indoor types. The default, of course, is lawn. But wood and synthetic decks are also common, as are cement patios. Pavers can quickly convert a patch of lawn into a defined patio, and old cement can be spruced up with a coat of stain or paint, or with some of the outdoor rugs now available.

Defining the walls of an outdoor space is easier than you might think. You can go the man-made route with fencing, lattice screens, trellises, retaining walls or planter boxes. Or let Mother Nature help out by planting shrubs or trees, or using large potted arrangements.

To top it all off, you’ll probably want something to keep the weather out and extend the useful season of your outdoor area. This could be as simple as a lawn umbrella affixed to a café table, or as elaborate as an awning, gazebo or pergola. Mother Nature can help out here as well with an appropriately located shade tree.

Add some fresh air to your decorating ideas.
Your outdoor area should have a focal point— an element that serves the same kind of function as a fireplace or TV screen in your living room. A fountain, outdoor fire pit or sculpture works well for this.

Again, you’ll want to keep in mind the mood you’re trying to establish. If this is to be a quiet space for reflection, think pastels or earth tones. Party areas deserve more festive colors and perhaps some colorful string lights or tiki torches for the evening hours. In fact, lighting should be task-oriented just as it is indoors—you might want to add pathway lighting for safety, decorative lighting to highlight landscaping and an outdoor chandelier or simple candles for the dining area.

Sound is also part of the overall ambiance, and can be added in many ways. Water features offer soothing background sounds, as do wind chimes. At the other extreme, outdoor speakers allow you to bring your favorite music outdoors with you and can even be inconspicuously disguised as rocks.

It’s easy to see that your outdoor living area can be as simple or as elaborate as you like. And whether you have a small condo balcony or an acre of landscaping, a little attention to detail can result in an inviting space that makes you want to sit and enjoy your environment.
 
Tips for entertaining in your new outdoor space
Once you’ve gone to all the trouble of creating an outdoor living space, you don’t want it to go unused. Plan a Grand Opening party to show it off to friends, and ask them for suggestions on other ways you could highlight the best features of your yard or patio. You might be surprised that they spot opportunities you may have missed. Here are some tips to ensure that your inaugural outdoor celebration goes off without a hitch.

Food tips

• Set up various “food stations” in different locations to keep people mingling and keep lines short.
• Consider a “fondue night” to make your job easier and get guests involved. Set chopped ingredients on a bed of ice, and place small hibachi grills at tables for guests to cook their own selections.
• To keep salads crisp and fresh, nest the bowl in a larger bowl filled with ice and cover the top.
• Reduce cleanup by serving condiments and dips in hollowed-out bell peppers, cabbages or round loaves of bread. You can also serve punch in a hollowed-out watermelon.

Table tips

• Weigh the corners of tablecloths down with washers or small stones to keep them from catching the wind.
• If you don’t have enough table space, lay a sheet of plywood or an old door over a couple of sawhorses, then cover it with a tablecloth.
• Add a touch of elegance by using real plates and silverware instead of disposables.

Decorating tips

• Decorate tree trunks and branches with small white string lights for a magical look at night.
• Line the path leading to your backyard soirée with potted flowers or luminaries.
• If you plan a formal seating arrangement, place cards can be made from items such as smooth stones or seed packages to keep with the garden theme.
• Seat children at a table covered with white butcher paper and have crayons available for coloring.
• Create easy and attractive centerpieces with pots of colorful flowering plants or even glass bowls filled with fresh lemons and limes.

Keep the bugs at bay

• To avoid lingering pesticide aromas, spray the area well in advance of guests’ arrival.
• Set up citronella candles or torches around the perimeter of your eating area, well away from the food.
• For a more natural (and less offensive) repellent, use pots or sprigs of parsley, tansy or rue to keep ants away, and lavender or mint arrangements to discourage flies.

Last but not least - make sure your automatic sprinklers are turned off before the big party!

The grand opening and ribbon cutting for Puyallup’s new city hall will take place at noon on Friday, August 8, 2008.  The celebration begins Thursday night, August 7th, with a concert in Pioneer Park featuring The Coats.  The party continues in the park Friday morning with family activities and food vendors.  You’ll want to be part of the community portrait to be taken after the ribbon cutting, or take a tour of the building.  If you don’t have enough time to tour the building Friday, come back downtown on Saturday, and while you’re downtown, visit the Puyallup Farmer’s Market.  There’s going to be a lot going on in downtown Puyallup August 7, 8 and 9th and a full schedule will be posted to www.cityofpuyallup.org, so please mark your calendars and come help celebrate the grand opening of the new Puyallup City Hall.