USRDA Loans & Underwriting

A little known issue that is popping up in regards to using this loan for housing in the local Ephrata area is throwing a wrench in some sales. So buyer beware when using this loan program that your costs for obtaining the loan might be higher then you think.flood zones ephrata

Because of the fact that Downtown Ephrata is within a flood zone obviously you have to obtain flood insurance which can cost you an extra $800 or more prior to closing.  Along with this however, is the requirement that USRDA requires housing within a flood zone to also have a survey of the flood zone and where the house is sitting to verify that the home is 12 inches above the flood path.  If the home is not above the 12 inches they will not loan on that particular piece of property.

This survey is going to cost you an additional $500-$1000 from a local engineering company.  Don’t be caught unaware in the middle of the transaction with additional costs that can keep you from buying your dream home.

Posted on March 8, 2012 at 8:42 pm
Heather Adkinson | Category: banking, Moses Lake, Real Estate

Moses Lake Halloween Events 2011

Larson Rec will be holding a Halloween Carnival Oct 22, 2011.  Join them in a variety of games including Go Fishing, Token Toss, Plinko, Pumpkin Toss, Pumpkin Patch, Pumpkin Decorating, Cookie Decorating, Cupcake Walk and Scavanger Hunt!    

 Moses Lake High School Trick or Treat will take place from 6-8 on Oct 31 providing a safe and warm environment for your children to Trick-or treat

Laketown Landings annual event will be taking place on Monday October 31st from 5-7.  Takes place on 3rd Ave from Alder St to Beech St.

 Harvest Maze and Pumpkin Patch open the month of October Fridays 4-8, Saturdays 12-8, Sundays 12-6.  Activites include Maze, Pumpkin Painting, Pumpkin Patch Games and more.  Cost is $5.00 per person for the maze.  Location is 9072 Rd K NW Quincy WA or call Janice at 509-398-2631 you can also visit their website at www.becerragardens.com

For all your Real Estate needs contact Heather Adkinson at 509-760-7733 or email at hjadkinson@windermere.com  Check out all listings at www.propertiesinmoseslake.com

 

 

 

 

 

 

 

 

Posted on October 10, 2011 at 11:05 am
Heather Adkinson | Category: Moses Lake, Moses Lake, Pumpkin Patches, Real Estate | Tagged , ,

Vantage Data Centers to build in Quincy

By Lynne Lynch,
Herald staff writer
Columbia Basin Herald | 4 comments

QUINCY – The Santa Clara, Calif.-based Vantage Data Centers selected Quincy as its first data center in Washington state because of Grant County’s affordable hydropower.

“Energy efficiency has a very big payoff for the companies and the communities,” said Greg Ness, the company’s vice president of marketing, on Thursday.

Already space is entirely leased out for the first building, he said.

One of Vantage’s clients is a Fortune 50 manufacturing and technology company whom Ness declined to identify due to a contract agreement.

The Quincy groundbreaking is set for October for the project’s first phase on Road 2 N.W., Ness said. It is expected to open in August.

Vantage’s tenants in its Enterprise Technology Center have space to house up to 100 employees, according to a prepared statement from Vantage.

The company customizes buildings for clients by working through an extensive collaboration and customizing process, Ness said.

Vantage’s work helps reduce risk for its clients, as it is used to working with many public entities on projects’ regulatory aspects.

“California is one of the strictest environments to build in,” he said. “Washington may be similar to that. We’re very used to all of the requirements and exceeding them.”

The first wave of work comes with construction jobs, with the next layer being the delivery of specialty gear. Then work begins from building management control, system administrators and information technology (IT) architects.

The project has three phases. They include the building of the 105,000 square-foot Enterprise Technology Center and an extra 235,000 square-feet of data center space.

“Vantage Quincy will take what we accomplished in Santa Clara to a new level of scale, customization and innovation,” stated Jim Trout, Vantage Data Centers’ CEO.

“Our Quincy facilities will surpass all expectations of today’s wholesale data centers and will be designed and developed with unprecedented collaboration between provider and end-user. In combination with Santa Clara, our customers will now be provided with global portfolio options for connectivity, network resources and immensely scalable, clean and green power.”

Quincy Mayor Jim Hemberry said he is happy to see another data center coming to town, because of the additional sales tax and property tax revenues.

Extra sales tax revenues helps Quincy improve its streets and parks. The town is also building a new library.

Property tax revenues can be used to fund ongoing projects or add extra employees. Quincy hired a recreation director to start a recreation program, a full-time engineer and a police captain.

“It’s very beneficial from a monetary standpoint,” he commented.

Housing is another area experiencing improvements in Quincy. When Microsoft, Intuit and Yahoo! built their data centers, there was an increase in housing starts.

Other computing companies have seen the advantages of Quincy’s affordable land and power, including Intuit, Sabey, Microsoft, Yahoo! and Dell.

Vantage’s property is next to the Port of Quincy’s Industrial Park 4, Pat Boss, of the Port of Quincy, said.

The dark fiber lines and electrical substations brought in by the port and Grant County PUD created opportunities for private land owners to market their properties to data centers, he said

Posted on October 5, 2011 at 11:11 am
Heather Adkinson | Category: Moses Lake | Tagged , , ,

Dell buying land in Quincy for Data Center

I found this article intriguing for a number of reasons but mainly as all the data centers keep coming it can’t help but bring growth in the aftermath.

Dell Tied to Data Center in Washington State

November 2nd, 2010 : Rich Miller

An aerial view of Quincy, Washington showing the cluster of major data centers, including a visualization of a planned site for Sabey Corp. and existing sites for Microsoft, Yahoo and Intuit. (Image: Sabey Corp.). 

Dell has purchased property in the growing data center hub of Quincy, Washington in connection with a secretive data center project known as “Project Roosevelt.” County records indicate that Dell Marking LP has paid $3.6 million to purchase a property in the Port of Quincy from Michael and Marsha Rodgers, according to local media.

Officials with the Port of Quincy have confirmed that the deal is related to Project Roosevelt, the code name for a data center that could include grow to 250,000 square feet over time. The initial specifications call for 7 megawatts of power, ramping up to 30 megawatts over time. The search also considered sites in Douglas County.

The Quincy Data Center Cluster
With its location in east-central Washington state, Quincy is ideal for “free cooling” (using fresh air to cool servers) and has a ready supply of cheap hydro-electric power, which is coveted by data centers for its relatively low carbon impact. The small farm town has become home to major data centers for Microsoft, Yahoo, Intuitand Sabey Corp.

Continue reading

Posted on December 9, 2010 at 11:02 am
Heather Adkinson | Category: Moses Lake | Tagged , ,

New FHA Requirements and How it Will Affect You

So today the Commissioner announced some changes that are in the pipeline for FHA mortgages.  Since I would say today in our area 3 out of every 5 mortgages are FHA this will impact a lot of us in this area.For new borrowers to qualify for a loan if they have a 580 credit score they must now put 3.5% down on the transaction.  For someone with a lower score they will have to come up with 10% down on the home.

The FHA has decided to raise up front mortgage insurance costs from the borrower from 1.75% to 2.25%.  They are also requesting permission to increase the maximum MIP that they can chargeDoes it suprise you that an insurance company wants to increase rates?  Doesn’t suprise me a bit!j0432728

 For new borrowers to qualify for a loan if they have a 580 credit score they must now put 3.5% down on the transaction.  For someone with a lower score they will have to come up 10% down on the home.

The bigger change is that sellers can now only contribute 3 % on an FHA sale which is down 3% from what we’ve normally used at 6%.  It seems they want buyers to have a bigger financial stake in their home by them having to actually put money into it upfront.

FHA loans have gone from a low of 3% of all totals loans to now a high of 40% of all loans.  Here in Grant County that is now probably a estimated of about 75% of all loans so this will impact a majority of our loans in some way.

The biggest impact we will see in our area from this is the loss of 3% of seller contributions.  Some people to qualify for a loan need the full 6% to actually qualify for the loan as they don’t have all the needed cash to close.  This will affect how many buyers are out there buying homes here in Moses Lake.

Posted on January 20, 2010 at 11:11 am
Heather Adkinson | Category: banking, Moses Lake | Tagged ,

Moses Lake Museum

Moses Lake boasts a fantastic opportunity for artists around the basin as well as families interested in being involved in the communityAptly referred to as MAC the museum is home to the Adam East collection of Native American artifacts from the Columbia Basin RegionThey also frequently change out the subsequent art on the walls with ever evolving Columbia Basin Artists and traveling exhibitions.  The best part is that the museum is always FREE

As well as offering you those opportunities of learning the history of the Columbia Basin they also offer weekly classes for you or your family on ever revolving topics that may interest you.  Just two weeks ago I was able to take my kids to a Family Free Saturday where they made igloos out of marshmallows!  Coming up on January 23 they are offering a class on Origami.

Mia & her Igloo

Mia & her Igloo

 

Within the quarterly brochure that goes out to all families in Moses Lake from the Moses Lake Parks and Rec Department you will find a full schedule of all the classes offered by the museum for you and family.  Once a month they offer a Family Free day for you and your family to enjoy.  Don’t miss out on the opportunity to fully take advantage of all the community has to offer!

Posted on January 13, 2010 at 10:59 am
Heather Adkinson | Category: Moses Lake | Tagged ,

Community Involvement

If you are looking for ways to help your neighborhood become just all around more friendly I found a great place to go that will give you fantastic ideas on doing just such a thing.j0430878

Houselogic.com is a great new website driven towards consumers with a wealth of information on anything you could think of.  In the Community Concerns section it will give you ideas to help you motivate the community feeling in the neighborhood.  Do you want a playground in your neighborhood?  Well it gives you ideas for that too!

Check it out and find all those things that you wanted to do but didn’t know how to start.  And while you’re there click through the site to find all the other information that they have that will be of great help to you.  It’s a fantastic website that I think is going to be of great help to everyone that uses it!

Posted on December 21, 2009 at 11:40 am
Heather Adkinson | Category: Moses Lake, Real Estate | Tagged , ,

Community Involvement

If you are looking for ways to help your neighborhood become just all around more friendly I found a great place to go that will give you fantastic ideas on doing just such a thing.j0430878

Houselogic.com is a great new website driven towards consumers with a wealth of information on anything you could think of.  In the Community Concerns section it will give you ideas to help you motivate the community feeling in the neighborhood.  Do you want a playground in your neighborhood?  Well it gives you ideas for that too!

Check it out and find all those things that you wanted to do but didn’t know how to start.  And while you’re there click through the site to find all the other information that they have that will be of great help to you.  It’s a fantastic website that I think is going to be of great help to everyone that uses it!

Posted on December 21, 2009 at 11:40 am
Heather Adkinson | Category: Moses Lake, Real Estate | Tagged , ,