Osprey by Emma Schmitz View Point
Thwarted Burglary on Beach Drive
Thanks to a watchful neighbor, a burglery was stopped earlier this week (on Wednesday afternoon) on the 5900 block of Beach Drive. From the neighbor's email:
A young man about 18-20 years old was taking items from the residence (flat screen TV, stereo equipment, computer equipment, etc) and was putting them in his car parked in front of the house. I observed this from across the street and asked him what he was doing, and his response was “I’m taking these things because they owe me money”. I called 911 and was speaking to the dispatcher when the individual brought out the family dog and put it in his car also. Another note is that the car had no license plates. The police arrived and arrested the suspect and then brought their K-9 unit to search for his accomplices who fled into the neighborhood. I spoke to one police officer who said the suspect had a military type stun-gun and a 14” knife on his possession when arrested.
The suspects car is red in the photo below.
Handcuffed suspect being taken away by the Seattle Police.
A huge tip of the hat to John for this information. Remember, you can always call 9-1-1 if you see something that doesn't seem right.
Sea lion in the mist
Otter snacking on a Fish
Tidelines with Waterfront Properties
With a low tide of -2 this afternoon at 11:55 this morning, many folks venture out to the tidelands. If you live on the water, do you know how much of the tidelands you own? Tim Daniels, Chief Title Officer with The Talon Group, explains how legal descriptions work in this short video: Seattle Tidelands. This video was actually filmed just off Beach Drive.
Jumbo Loan Limits Lowering Soon: Will This Impact Your Beach Drive Home?
I tend to shy away from writing about my "day job" on Beach Drive Blog…however it occurred to me that there are some significant changes that may impact many in the Alki area who have higher valued homes that may require larger loan amounts with their mortgages. I'd be remiss not to give my neighbors a heads up on something that may have dramatic impact on their finances.
Unless Congress passes an extension of the current loan limits, they will be lowered on October 1, 2011 and possibly again on January 1, 2012. The current conforming "high balance" loan limit for a single family dwelling in the Seattle area is $567,500, any loan amount over that is considered a "jumbo" (or non-conforming) and often has a higher interest rate and tougher qualifying guidelines. Our current conforming loan limits are technically "temporary" and are set to roll back to $506,000 on October 1, 2011. Fannie Mae has hinted that we may see loan amounts reduced further effective 2012 as conforming loan limits are based on median home values. We probably won't have more information about the loan limits for next year until November.
Reducing the loan limits from $567,500 to $506,000 means that potential home buyers will need to come up with $61,500 more for a down payment if they want to have a conforming mortgage, for a home priced around $710,000. If you are selling a home in this price range, you may want to consider that there may be fewer buyers available should your home require a larger down payment or jumbo financing. For those considering refinancing a conforming mortgage, if their loan amount is over $506,000, they should act soon. Often times, lenders will implement guidelines well in advance to what Fannie Mae, Freddie Mac, FHA or VA will do in order to not get caught holding a mortgage with "yesterday's" higher loan amount.
Loan amounts are being reduced across Washington State, I'm addressing the limits that will be impacting our West Seattle neighborhood. FHA "high balance" loan limits are set to be reduced on October 1, 2011 as well.
Mortgage rates are still very low and the difference between a jumbo and conforming interest rate is about 0.5% in rate for a 30 year fixed rate mortgage. If I can be of any assistance, please contact me. I'm always happy to help a neighbhor.
And now…back to our regular programming.
Trailer from Ira Finklesteins Christmas
The trailer for the movie that had some scenes filmed at a Beach Drive home and Alki Beach late April is available to watch for your viewing pleasure.
Untitled from Von Piglet Productions on Vimeo.
The water scenes that are supposed to be a Florida beach was actually on Alki and the scene that is Ira (or the boy pretending to be Ira) sleeping in a sunny room and Elliot Gould saying "Ira! Ira! Ira!" is the Beach Drive home.
REMINDER: Repaving takes place tomorrow and Thursday
No parking zones will be enforced tomorrow starting a 7:00 am and ending on Thursday, July 14th at 7:00 pm for several blocks of Beach Drive. This is for repaving of the 4500 – 4600 blocks (additional blocks are closed).
Bus stops have been temporarily moved too. This one has been moved about a block south of it's normal location to the 4700 block with will be a tow zone tomorrow morning too.








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