Tips from King County for the winter weather

We were contacted from local county officials requesting us to post information to help our readers regarding the potential winter weather:

Are you prepared?  Steps to stay safe in this weekend’s storm

With high winds forecast for this weekend and possible power outages, it’s time to take steps to stay save and avoid carbon monoxide poisoning.

How to avoid carbon monoxide poisoning

Carbon monoxide can kill you or cause serious injury.  Carbon monoxide gas comes from burning fuels such as gasoline, propane, oil, kerosene, natural gas, coal or wood.  Here are some steps to prevent carbon monoxide poisoning.

  • Never use a gas or charcoal grill, hibachi, or portable propane heater to cook indoors or heat your home.
  • During a power outage or at any other time, do not operate fuel-powered machinery such as a generator indoors, including in the garage.
  • Avoid combustion “space heaters” unless there is an exhaust vent.

Carbon monoxide poisoning can strike suddenly and without warning.  In some cases, physical symptoms of carbon monoxide poisoning may include splitting headache, nausea and vomiting, and lethargy and fatigue.  If you believe you could be experiencing carbon monoxide poisoning, get fresh air immediately.  Call for medical help from a neighbors home.  The fire department will tell you when it’s safe to reenter the home.

For a full list of carbon monoxide prevention tips and other safety and disaster information in English and other languages, visit www.kingcounty.gov/health/disaster

Other important safety tips

  • Make sure you are wearing enough warm clothing before going outdoors.  Wind speed can create dangerously cold conditions even when the temperature is not that low.
  • If you think power will be out for several days, check with your city for location of warming shelters.
  • Watch for signs of frostbite and hypothermia-slurred speech, confusion, uncontrollable shivering, stumbling, drowsiness and body temperature of 95 degrees Fahrenheit or less.  Get medical help immediately if you think someone has frostbite or hypothermia.
  • Check on elderly friends, family, and neighbors to make sure they are safe.
  • If power goes out where you live, keep food safe by keeping the doors closed on your refrigerators and freezers as much as possible.  A full freezer can stay at freezing temperatures about two days” a half-full freezer about 1 day.  Potentially hazardous foods, like meet and fish, should be discarded if thawed and warmer than 41 degrees.

Update: News Release from the City of Seattle

Snow in Seattle

Yesterday many schools were closed with anticipation of snow…in Seattle, it missed us.  This morning, we made up for it!  There’s no doubt this is a “snow day”-much to the excitment of my teen.   I took this photo about an hour ago while I was taking my old Pug for his morning walk in Alki – West Seattle.  This snow, by the way, is perfect for building a snowman–nice and crunchy. 

I can’t help but wonder if our weather will impact year end closings with more snow in the forecast.  Hopefully everyone plans accordingly–especially with Christmas and New Year holidays coming up.

And on a business note, rates for 30 year fixed are currently 4.75% for 740+ credit (apr 4.875) based on $400,000 loan amount with a $500,000 sales price.  Priced with 1 point and 45 day lock.  Rates are higher than what I quoted yesterday morning by about 1 point in fee!  I’ll be posting updated mortgage rates here tomorrow morning!

Stay warm!

Volunteers needed in Bellevue!

I just received an email from my CERT group coordinator (Certified Emergency Response Training) that due to weather conditions, a shelter is opening in Bellevue to handle the Special Needs population.  They are sorely in need of some volunteers, no training needed, to help staff the shelter.  It is located in the Crossroads area of Bellevue, and contact info to volunteer is at the end of this email.

As many of you know, my sister is in surgery over at Evergreen today, and I will be helping her after surgery as a guest in my home for at least a couple of days.  Since I can’t respond to the request by being a volunteer at this time for that reason, I am hoping that this message will reach enough of you to meet this immediate need. I may be able to jump in at the end of the schedule depending on how my sister is doing after surgery today.

VOLUNTEERS ARE NEEDED: Wed. 12/17, Thurs. 12/18, Sunday 11/21 and Monday the 22nd from 9 p.m. to 7 a.m.  Staying awake during the entire shift is the request.  From the email: “Social Service agencies are handling all notifications to target populations.  Those who come to use the shelter may arrive and register between 9:30 p.m. and 1:30 a.m. and must leave by 6:30 a.m.  30-50 max people are expected.  A Kirkland mother and her children ages 7, 4, 2 and 1” are expected to arrive tonight, as example of the growing need for services and volunteers to staff the shelter.

Contact Info to Sign Up:

Cathryn Laird

Assistant Human Resources Director

City of Bellevue

425-452-6817

CLaird@bellevuewa.gov [mailto:CLaird@bellevuewa.gov]

King County Recorders office scheduled furlough dates you should know about

Some of you in the real estate business are probably aware of this, but for others this information may be also be useful. E-mails have been circulating regarding King County Recorders office closures due to staffing furloughs. I called the recorders office to confirm and they sent me the letter dated December 11, 2008 to all the “recording customers.” In addition to normal recognized Holidays, the King County Recorders office will be closed the following 2009 dates:

Friday, January 2, 2009; Friday February 13, 2009; Friday, April 10th, 2009; Friday, May 22, 2009; Friday, June 19, 2009; Monday, July 6, 2009; Friday, September 4th 2009; Monday October 12, 2009; Wenesday, November 25, 2009; and Thursday, December 24, 2009.

From the Dec. 11th 2008 letter from the King County Records and Licensing Services Division:

“King County is facing an unprecedented $93.4 Million 2009 budget deficit. The 2009 budget deficit will be addressed through permanent reductions, efficiencies, salary and overhead savings and limited use of reserves. One of the strategies to offset costs is with reductions in employee hours worked. All King County employees, with the exception of essential safety and transit staff, will take ten unpaid furlough days in 2009.

The schedule of furlough days in 2009 is as follows: (see dates above)

Need Christmas Decorations?

I have some extra lights and decorations that I don’t want to keep packing up and storing every year 🙂  I called Hopelink here in Kirkland and they don’t know of a family that needs them, but people usually don’t go to places like that and say “I need a string of Christmas lights”.

If anyone knows of anyone who could use a little cheer and a few decorations, shoot me an email.  The closer to Kirkland or Green Lake the better.  I’m back and forth between the two frequently this week.

FOMC Cuts Discount Rate by 0.75%

From the FOMC press release:

“The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent….

As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand its purchases of agency debt and mortgage-backed securities as conditions warrant.  The Committee is also evaluating the potential benefits of purchasing longer-term Treasury securities.

…In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 1/2 percent.”

Mortgage rates should continue to improve with the purchase of MBS.   This is why you need to do as Kenneth Harney recommends in this Sunday’s paper:

“Ask your broker or loan officer whether you can lock in today’s rate but still have the ability to move down should cheaper money become available to you.

Not all lenders can accommodate such requests. Some brokers offer 60-day locks with that option; others may charge you”.

Loan Modification Salesmen in WA State Must Be Licensed LOs, Mortgage Brokers, or Work at Consumer Loan Companies

From the Washington State Department of Financial Institutions:

DFI Advises Homeowners To Verify The Licenses Of Anyone Offering Loan Modification Services Before Hiring Them

OLYMPIA – The Washington State Department of Financial Institution’s Consumer Services Division advises homeowners who are delinquent on their mortgage to be cautious about using the services of someone offering to help them work with their lender to modify the terms of their home loan.

The Department of Financial Institutions (DFI) has received a number of inquiries regarding the legality of providing this service in this state. While there is nothing inherently illegal about this business, those providing this service in the State of Washington must be licensed as loan originators, mortgage brokers, or consumer loan companies and be overseen by the Department of Financial Institutions. Additionally, under applicable law, the loan modification provider associated with mortgage brokers have a fiduciary relationship with the borrower and must act in their best interest.

“DFI is concerned that homeowners in desperate situations may pay substantial fees for loan modification services and not take advantage of the HUD-approved counseling services offered for free by numerous non-profits,