Rain doesn’t bother me one drop.  I love the sound on the roof and watching the way the earth, sky and the “ in-between” interact.   But my personality doesn’t let me spend too much time in contemplation.  I start looking for ways to enjoy the rain experience on Whidbey Island when I have a day off.

 So with the restless energy I start out at Ebey’s Landing, http://www.nps.gov/ebla/index.htm .  Some of the Reserve's best walking is along the strip of rocky beach between Fort Casey and Fort Ebey state parks. The beach rises to dramatic 200-foot high bluffs, most of which are accessible by a trail.  When you reach the top of the ridge you enjoy one of the best views out the Straits of Juan De Fuca.

After that I am a little hungry and want to enjoy a light lunch at the Greenbank Farm’ s little pie shop, http://www.greenbankfarm.com/shop.html   You absolutely cannot leave here without sharing a piece of berry pie with ice cream.  A local spot, warm and cozy with the hum of good conversation on a wet day.

What next, well thoughts of a nap…….but no I have a book I have been wanting to read and so I visit our wonderful bookstores in Langley and Freeland. There is the Moonraker in Langley, and the Book Bay in Freeland http://www.bookbay.com/   to start.

Back home to consider my next rainy day move.  Beaches provide lots of entertainment when it rains. Particularly interesting are the beaches when it is windy.  There is nothing more exhilarating than a beach walk on a windy day.  All those negative ions.  See this one captured in Coupeville   http://www.youtube.com/watch?v=av8R35REDD0&feature=related  

Of course now food is on my mind again and there is absolutely no better place to go for warmth, good service and outstanding food than Prima Bistro in Langley.  http://www.primabistro.biz/  It also has a great view for watching the rain.  Did I tell you I love the rain?

My November open houses will be very special.  You should be there. This time of year is the perfect time to have a baking specialist do a demonstration on cookies (nothing like the smell of gingerbread when you walk in the door) I may have a Christmas tree decorated by a professional with ornaments from the local shops.  Holiday recipes, decorating ideas and small gifts from the merchants participating will be there for those who come see these lovely homes on Whidbey Island.  www.realwhidbey.com  The atmosphere is festive, and isn't that what we look for when buying a home?  A place to feel good. share memories, food and friendship.  I will have these posted on my website at www.realwhidbey.com starting November 1, 2009.  I suggest that you set a RSS feed to this website to be sure you don't miss these, and if you do, don't worry someone will eat that gingerbread cookie for you.

You  get up in the morning to the quiet of island life, waves lapping on the shore, birds and eagles flying overhead,  deer and other wild life framing the landscape of your life, and then you decide you just need to go to the city and feel the pulse of Nordstroms, Benaroya Hall, the Seattle Museum and of course Pikes Market.  But you don't want to drive, you want sit back, enjoy the scenery, listen to your IPOD or read a book.  Your choice to get to there is the Sounder Train.  You take the FREE Island Transit bus from close to wherever you live on the island to the ferry landing, board the ferry and enjoy the fresh salt air, while maybe catching a glimpse of a seal or if you are lucky a whale. Exit the ferry, and catch the Sounder at the adjacent terminal. In 44 minutes you will step off the train in downtown Seattle.  Magic!  No car, no hassle, a day in the city, and then back to Whidbey.  Here is the current Sounder schedule.   www.soundertransit.org/x71.xml. 

In March of this year, the Obama Administration authorized a new federal program to help stabilize the housing industry. The feds poured a mere $75 billion into the Making Home Affordable (MHA) mortgage program intended to avert further foreclosures, assist responsible home owners in retaining their homes and stabilize the nation's communities.

Home Affordable Refinancing Program (HARP) and Home Affordable Modification Program (HAMP) are the two initiatives under the umbrella of the MHA that are being used to distribute the funding for the program. The programs fall under the U.S. Department of Housing and Urban Development (HUD) secondary mortgage market lenders, Fannie Mae and Freddie Mac. Through the MHA programs, certain homeowners are provided assistance whose loans are either owned or guaranteed by Fannie Mae and Freddie Mac.

Over the following three years, the program is on target to assist three to four million homeowners. Currently, over 230,000 trial modifications have been started; although, over 500,000 is the goal to have in process by November 1, 2009. What's interesting is that more than 85 percent of mortgage loans out there today are covered by participating service providers.

HARP assists homeowners who are current on their mortgage payments, but are not able to refinance their loans due to a decrease in their home's market value. Homeowners may be afforded the opportunity to refinance their mortgage to a lower interest rate and to a lower-risk loan solution, both of which are part of the program.

General requirements to be eligible for HARP are as follows:

* Must be the owner of a one- to four-unit home
* Mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac
* Must be current on mortgage payments throughout the previous 12 months, which means that you've not been more than 30 days late on any mortgage payment within the previous year
* Amount due on your first mortgage is not more than 125 percent of the current market value of your home

HAMP offers options for homeowners that may potentially reduce their monthly mortgage payments, or provide other alternatives that can assist them in keeping their homes. The program helps homeowners who are in the following situations with their mortgage:

* Current, but have experienced recent significant hardship, including hardship that will inhibit their ability to pay mortgage payments going forward
* Delinquent on their mortgage payments
* Currently in the foreclosure process

For full details regarding the MHA, visit the MHA website.

Both sites offer a self-service lookup tool that tells you whether your home loan is owned by either. To find out more about the Fannie Mae or Freddie Mac MHA programs, or to see if your home loan is owned by either, see the information below:

* Fannie Mae
* Phone - (800) 7FANNIE (Hours - 8am to 8pm EST)
* Freddie Mac
* Phone - (800) FREDDIE (Hours - 8am to 8pm EST)

I am often asked from those who come to the island to make it their home, “What do you love best about living on an island?”From the well of who I have become living here, comes these thoughts; Eagles soaring above in the bright sun, Madrona red sunsets, black nights with brilliant starlight, and most of all, the silence that surrounds you. The sounds of civilization evaporate in the moody waters between the island and the continent.

Whidbey Island didn’t start with a Pig War like San Juan Island. It has a more gentle history of families coming to camp here in the very early 1900’s. Eventually, independent families making their way to begin a new life farming the land, and merchants arriving to support them settled the island.

Check out the video and photos of the Holly Farm. This uniquely historic waterfront property was settled on Holmes Harbor in the 1930’s by two rugged families who together created a business from the holly trees that grow so well here. Let me know if you want to know more about the history of this property and possibly make it your home.

 It's a fact, if you are a seller, and someone wants to buy your home, they will need an appraisal for their loan. Much of the time they will also want to have an inspection on the property as a contingency. The inspection usually comes before the bank gets around to ordering an appraisal. Most inspections cost the buyer $500 to $550. They usually pay before the inspection, or at the time of the inspection.

Now somewhere further down the purchasing cycle, the bank that the seller decides to use orders an appraisal. The appraiser is from a pool of appraisers in our state. They may live more than 200 miles from your property. They may never see you property. There are no rules about this. They may use something like Zillow to do the appraisal on your property. If the appraisal comes in low for various reasons, your buyer may not be able to secure the loan to buy your house at the price you have agreed upon. You will now need to negotiate a new price. That is if the buyer wants to negotiate a new price.

Generally the bank will loan on the ratios they have agreed upon, but now on the current appraised price and not the contract price between you and the buyer. You are now in a very bad predicament. You can ask for a new appraisal, but the new one may not be better than the last, and many banks will take the two and average them. The buyer also has a problem. He has paid to have an inspection on a property that he may not wish to buy.

Is there an easy solution to this scenario? No. Top attorneys say that this real estate law procedure is not going away. What you need to do is have your home priced as close as you can to current comparable properties if you want to see a sale go through.

Special amenities of your home will not carry as much weight has they have in the past. Short sales and foreclosures will be included in the comparables used by appraisers. There is no way around it,  Be sure your home is priced right when you go on the market.  If you are a buyer you need to be sure before you write an offer that the price you are offering is strong enough to get a loan.

There are many changes happening in the way lending institutions are having to do business.  Some of these are now affecting the appraisals on your home if you are selling and if you are buying the one you may want to purchase.  Please read the article below and if you would like to discuss it,  please do call.

 Appraisal Industry Gets Shaken Up
By the Demco Law Firm, P.S.
Recent changes to federal regulations that took effect on May 1, 2009 are drastically changing the
role of appraisers in real estate transactions. These regulations are the result of concerns that appraisers
were influenced by the mortgage brokers and borrowers who selected them. As a result, the right to select
the appraiser has been taken away from the borrower, mortgage broker or real estate agent and given
exclusively to the lender. The lender must comply with a number of regulations to ensure that the
appraiser is both qualified and independent, as defined by the regulation.
The overall result will be more staff appraisals and fewer independent appraisers. This could
mean that the appraiser will have less knowledge of the neighborhood and unique property characteristics.
Borrowers, mortgage brokers and agents will no longer have the opportunity to suggest other comparable
properties or correct misunderstandings.
The ability to shop for a loan will also become more cumbersome and expensive. A lender may
use an appraisal ordered by another lender, but only if the appraisal complies with the regulation. Many
lenders will be reluctant to use another lender’s appraisal because it would be difficult to verify that the
appraisal satisfies all of the regulations. Many buyers may be required to pay for more than one appraisal.
The new regulation also means that buyers will likely learn if they can get financing later than
before. Under prior practices, a mortgage broker often would order an appraisal immediately to verify
that value would not be a problem. If the property did not appraise for value, the buyer would not need to
incur additional expenses, and the property would not be off the market needlessly. Since lenders must
order the appraisal under the new regulation, they control when an appraisal is ordered, making it more
likely that completion of the appraisal will not occur until later in the transaction. To avoid lengthy
delays buyers should ask about the timing of the appraisal when selecting a lender and applying for a
loan. Windermere Mortgage typically orders the appraisal within 24 to 48 hours after notice of mutual
acceptance or removal of any inspection contingency.
These changes may also result in more appraisals below the purchase price. Under the Financing
Contingency (NWMLS Form 22A), the buyer has specific rights if the appraisal is less than the sales
price. The buyer may serve a notice of termination unless the seller either reduces the purchase price to
the amount of the appraisal or procures an acceptable appraisal for the purchase price. Under the new
regulation, a seller could not order a new appraisal, but could pay for one that is ordered by the lender. It
is expected that NWMLS will revise Form 22A to address the new regulations.

This legal bulletin is provided for informational purposes only, and to assist you in identifying potential legal  problems. It should not be used as a substitute for obtaining the advice of an attorney when problems arise, and is not intended to constitute legal advice. A lawyer cannot give legal advice without a detailed factual background of the client's particular situation, as thesame legal question may have different answers under different circumstances. Do not base any important decisions on these
materials without first consulting an attorney.

In the Market Update section of my website,  I have included the latest report of sales on Whidbey Island for the 2006, 2007 and 2008 years.   We plan to have another update by June which will include the 1st quarter numbers.

I attended a meeting with 4 appraisers from Whidbey Island recently.  They gave us an update on the lending situation.  One of the most difficult parts of their job at present,  is providing a lender with comps.  With few sales, and in a market like ours, with few homes with the same features, it is difficult to support the appraised prices they are working with.  They have had to work with a difficult market, but they have seen an improvement in bank requests, and pending sales which are much higher now than they have been in the recent past.  So there seems good justification to state that the market seems to be stabilizing.

                              When you think of visiting wineries, most of us think California, Oregon or eastern Washington. But right here on Whidbey Island, just south of Coupeville, there are some wineries making some pretty good northwest wine.

Best of all they are working together to let you know where they are, who they are, and how to get to taste and buy their wines. Some of them have tasting rooms and others you can easily find at Whidbey wine shops and Greenbank Farm. So here is another great reason to love living on Whidbey Island. Enjoy the lush grapes on the vines in the lovely rural vineyards, with Islanders who are dedicated to giving you the best possible Whidbey experience in wine.

Whidbey Island Vineyards & Winery 5237 S. Langley Road, Langley. 360-221-2040 This is a lovely vineyard and winery to visit and taste the wines on location. Just outside of Langley, pure island magic.

Holmes Harbor Cellars 4591 S. Honeymoon Bay Road, Greenbank 360-331-3544 Fantastic wines with a large selection of unique combinations. Call ahead for hours

Greenbank Cellars 3112 Day Road, Greenbank. 360-678-3964 Half way between Freeland and Coupeville is this very interesting winery and vineyard.

Whidbey's Greenbank Farm wine shop and tasting room, 765 Wonn Road, Greenbank. 360-678-7700

Blooms Winery5302 S. East Harbor Road, Freeland; tasting at Greenbank Farm only. 360-331-4084  

FishTalk Vineyard, 5071 Bercot Road, Freeland,. Tasting at Greenbank Farm. 360-331-5335

Lucky you if you want to own your own winery, see my listing of the Holly Farm in properties for sale.. The wonderful vineyards, and winery are part of this sale, and it includes the equipment and licensing. Dave Schall, the winemaker might also want to stay and help you begin your new life at the Holly Farm.

All real estate professionals spend countless hours before a listing presentation getting the appropriate up to date data on the market, including current pendings and sales.  We take this pile of statistic and photos to the seller, and after a monologue on how we reached a range price for them to consider, we give them the suggested price.

Today, more often than not, we are either met with a deadpan look, or an immediate vocalization of " we need to start higher and see how it goes."

So we then launch into all the statistical reasons that starting high is not the best idea, as the first few weeks out of the chute are when you get attention from both the buyers and the real estate community.  Starting high, may just insure you will spend additional days on the market. Sometimes this has little meaning.

 I think we need to take some time and ask our you sellers  to spend some time in somewhat of a game with us.  I have found that this strategy is sometimes the turn around from a dead end conversation on pricing.

Set up an appointment for a 2 to 3 hour segment of time.  I will then  make appointments to see as many homes in the price range and area of the subject property are comparables. You may have seen many of these yourself before this day out, but now you are looking with new eyes.  Now with detailed  property  sheets in hand,  begin the tour. 

 Once on the home tour it is important for you to notice the similarities and differences  to the home that you  you putting on the market.  Obivously, some of the key points would be age, condition, size, and views.  This can be a real eye opener . 

This time may be the key to an honest discussion between you and your Realtor  of what sales price you can expect for your home today.