Lennox Scott Says: It’s Time To Make Your Move!

With the news that interest rates on a 30-year fixed *conforming loan have dropped below 5%, J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, feels compelled to alert consumers to the fact that now is an opportune time for them to make their move on a home purchase or refinance.

"Even with speculation that interest rates could drop further, there’s no guarantee that will happen or that rates will even remain at their current level," said Scott. "In the recorded history of interest rates, they’ve never dropped this low with the exception of a brief period in 2003."

Scott adds that homebuyers who are concerned about home prices dropping further need to understand the math, "A 1% drop in interest rates is equal to a 10% savings in the sales price of a home." As an example, the following illustrates the savings a homebuyer would assume with today’s interest rate compared to interest rates from only a few weeks ago:

 

                                                         Senerio 1                                                      Senerio 2

Sales Price                                    $400,000                                                      $400,000

Down Payment                                       10%                                                              10%

Loan Amount                                 $360,000                                                      $360,000

Interest Rate                                   **5,875%                                                     **4.875%

 

Payment                                         $2,129.54                                                     $1,905.15

 

 

"This chart demonstrates that today’s interest rates increases a homebuyer’s purchasing power by 10%," said Scott. "This fact combined with the ample inventory of high-quality homes for sale makes this the ideal time to make your move on a home purchase."

Scott also wants homeowners to know that lower rates provide advantageous opportunities for homeowners to significantly reduce their monthly payment by refinancing. To support this statement, Scott adds that he himself is going to refinance his own home based on today’s drop in interest rates.

Scott says that there are misconceptions about what it takes to qualify for a mortgage, "Contrary to what you may have heard, you don’t need perfect credit, a large down payment, or a large amount of home equity to qualify for a low interest loan. Loans still exist for the majority of people looking to purchase or refinance."

 

To speak with Rob Drexler, Margie Heath or Alisha Harrison of John L. Scott, Belfair call 360.275.1600 or email rob@ydthomes.com margie@ydthomes.com alisha@ydthomes.com

 

Now is the time to buy!!

*Home purchases with a loan amount of $506,000 or less qualify for conforming loans

**Represents a one point buy down; information provided by Response Mortgage Services

Nestled between the pristine waters of the Puget Sound and the majestic shores of Hood Canal you’ll find North Mason. It’s a beautiful community. In addition to the amazing salt waterfronts, we enjoy many fresh water rivers and lakes as well as vistas of the Olympic Mountains and Mt. Rainier. I find myself always searching out a new place to enjoy the natural beauty. There isn’t anything much more relaxing than a good walk in the beautiful outdoors. I always take advantage of the opportunity to for a nice a walk. Whether it’s sunny or overcast, warm or cool, if I have the chance I take it. Luckily for me, North Mason is home to The Theler Wetlands.

 

Located in the heart of Belfair, just off Highway 3 at the tip of Hood Canal, The Wetlands at Theler offers something for the nature enthusiast in everyone. The Wetlands is comprised of 71 acres of salt marsh and estuary wetlands at the mouth of the Union River. You’ll enjoy well groomed trails through forests and boardwalks over wetlands that meander through nearly 5 miles of nature’s beauty.

 

Known as a haven for birding, Theler is the perfect place to view everything from the Great Blue Herons to Belted Kingfishers from Bald Eagles to Red-winged Blackbirds. One of the great things about The Wetlands is that it is perfect for not only the experience birder, but also the novice, like me. There are pamphlets with birding hints in the lobby as well as electronic bird identifiers, bird books and binoculars available from the staff in the Exhibit Building.

 

In addition to the trails and birding opportunities, there is also 2 acres of Master Gardener Native Plant and Grass Demonstrative Gardens surrounding the Exhibit Buildings and classroom. There are 21 separate gardens that showcase the versatility and beauty of low maintenance landscaping that native plants coupled with well conceived design afford. Including over 800 native trees, shrubs and ground covers, this may well be the largest collection of native plants in a natural setting in Western Washington. The gardens were designed and planted in 1997 by master gardeners along with help from community and student volunteers. The gardens are proof of what true community spirit can create!

 

I had the opportunity to take one of my much loved walks through the wetlands just last week. I had a lunch appointment and then my afternoon was free, and as it was a beautiful fall day in the Pacific Northwest, I decided to load up my daughter and enjoy some rare free time! I’m so glad I did. The skies were brilliant blue, the air crisp and the trees were awash in deep reds and golds. We came upon two Great Blue Herons, along with a myriad of other birds while we were walking and the dragonflies accompanied us through the trails. Having a background in photography, I was having a wonderful time with my camera.

 

In addition to being a wonderful natural sanctuary, The Wetlands is also home to the Theler Community Center, hosting many community activities, events and meetings. The North Mason Chamber of Commerce holds their monthly luncheon on the fourth Wednesday of every month. You can find Karate classes, Senior Dance Socials and Family Bingo throughout the week. Check out the calendar for more info and specific dates and times. The Theler Center is also a designated emergency shelter for the North Mason community.

 

Theler receives no tax support and is run by a volunteer board and relies heavily on donations and fund raising efforts. Yet another example of our community spirit!

 

I hope everyone is able to take advantage of this beautiful asset to the North Mason community. If you are searching for educational opportunities or just a quiet place to collect your thoughts, Theler offers something for everyone!

 

If you decide to experience the beauty of Theler for yourself, feel free to email me or give me a call. I’d be happy to offer any assistance I can. Or, stop by my office at 23552 NE State Route 3, Suite 2B in Belfair for some coffee before you go – the pot is always on and the conversation is always enjoyable!