Monthly Archives: March 2010

2010 Spring Recylce Event on Mercer Island

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Tomorrow, March 27th, is the spring recycling event on Mercer Island. The event will be located at the Mercer Island Boat Launch (3600 East Mercer Way) and the hours are 9 am to 3 pm. Please note that no vehicles will be allowed to enter the event area after 2:45pm.

Here’s the list of what items will be accepted, and any applicable charges:

Tires (limit 6 tires per household)
Motor Oil, Filters & Antifreeze
Lead Acid Batteries
Household Batteries
Cardboard (please flatten)
Household Goods & Clothing
Confidential Document Shredding (limit 5 file-size boxes per participant)
Porcelain Toilets & Sinks ($5 charge – cash only)
Propane Tanks ($5 charge – cash only)
Refrigerators/Freezers/Air Conditioners ($25 charge – cash only)
Appliances/Scrap Metal ($5 charge for water heaters)
Electronic Equipment (no charge)
TV Sets (no charge)

At this particular recycling event, there will be no charge for recycling computer monitors, which is nice change. A noteworthy restriction concerns plastics: no plastics are being accepted. Also, no flatbed or dump trucks are allowed at the recycling event. Click here for more detailed information about the March 27th Mercer Island Spring Recylce Event.

How do interest rates impact your buying power?

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Many of us are on the fence about whether we should buy and/or sell in our current market, and for good reason…we’ve heard that values are down and foreclosures are up. It’s a scary world out there.

Fortunately, that’s only part of the story. The bigger, more exciting news is that our historically low interest rates coupled with affordable home prices have created an incredible opportunity to buy. How incredible? Let’s just say we may never see this kind of buying power again in our lifetimes. Why is this?

Interest rates directly affect the amount of house you can afford. For example, someone who qualifies for a $700,000 house at a 5% interest rate would only be able to afford a $564,000 house if rates went up to 7%. Over the past 30 years, the average conforming interest rate was 8.998%. As of June 1st, 2011 it was 4.5%.

With interest rates predicted to rise in mid-summer, now just may be the best time to jump off the fence and invest in your future…

See every listing from every company at WindermereMercerIsland.com

This article is not intended as an offer to extend credit nor a commitment to lend. The loan interest rates, fees and terms presented here are for illustrating purposes only and may not be currently available. Payment estimates courtesy of Windermere Mortgage Services.

Gardener’s Tips: When to Plant What

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Frost charts, soil temperature, phase of the moon…gardeners have all kinds of methods for determining the best time to plant.  There are no guarantees, since Mother Nature seems to have a mind of her own, but there are some guidelines you can follow to have the best chance of success…

Transplanted vegetables and annuals: after the last hard frost

Seeds for vegetables and annuals: plant so the seeds will sprout when the last frost date is past.

Spring flowering bulbs: 6 weeks before the ground freezes; when the soil temperatures falls below 60 degrees; after the first heavy frost; usually around Halloween.

Trees and shrubs: whenever the ground can be worked; after leaf drop or before bud break.

Perennials and wildflowers: in spring after the last hard frost; in fall before the ground freezes.

Cool grasses (such as fescue and rye): early spring or fall.

Warm grasses (such as Bermuda and Zoysia): when temperatures are 70-80 degrees.

Potted roses: spring or fall.

Bare root roses: after the last hard frost.

In USDA Hardiness Zone 8, where most of the Seattle area falls, the average last frost date is March 15 and the average first frost date is November 15th. You can also check the online Farmer’s Almanac for other areas.

6 Real Estate Tax Deductions That Can Save You Money

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Owning real estate can really pay off at tax time!  Here are some deductions that may be available to you.  Consult your tax adviser or visit the IRS website to see which apply to your situation…

1. Mortgage interest: Interest you pay on your home loans, whether for your primary residence or second home, is tax-deductible.

2. Capital gains: If you sold your home last year, you can exempt the first $250,000 of profit ($500,000 for married taxpayers filing a joint return).  The home must have been the seller’s primary residence for two of the last five years.

3. Points on a home purchase: If you bought a home last year, the points you paid to get a lower interest rate are tax-deductible for that year.

4. Points on refinancing: The points you pay to get a lower interest rate on a home purchase loan are tax-deductible for that year.  If you’ve refinanced before, and you have points from the previous refinance that haven’t yet been deducted, you may take a full deduction on the remaining points for the earlier loan.

5. Real estate and property taxes: State and local property taxes are deductible in the year they are paid.

6. Repairs to rental property: The costs of repairs to rental properties are fully deductible in the year in which they are incurred.  Examples include fixing leaks, patching plaster and replacing broken windows.

In addition to these deductions, buyers entering into a purchase contract by April 30th, 2010 may be eligible for a tax credit.

2010 Mercer Island Half Marathon: Race Day is Sunday, March 21st

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The 2010 Mercer Island Half Day Marathon is this weekend, Sunday, March 21st.  The Pre-Race Expo is Saturday, March 20th, 1 to 5 pm.  Both the Pre-Race Expo and Race Day events are located at the Community Center at Mercer View.

In-store registration for any of the racing events closes at 12:00pm tomorrow, March 17th. Online registration closes at 12:00pm, Friday, March 19th. Participants can also register at the Pre-Race Expo or on Race Day (note: Race Day registration closes 20 minutes before an event starts).

Below is the Race Day Schedule of Events:

  • 6:30 AM: Day-of-Event Registration Begins
  • 7:30 AM: Half-Marathon Walk Begins (presented by Swedish Cancer Institute)
  • 8:00 AM: Half Mile Kids’ Dash for Children 10 and Under (sponsored by Farmers Insurance Group)
  • 8:30 AM: 10K Run (sponsored by Seattle Cancer Care Alliance)
  • 9:00AM: Half Marathon Run (presented by Swedish Cancer Institute)
  • 9:30 AM: 5k Run & Walk (sponsored by Virginia Mason Team Medicine)

If you have questions about what each event entails, please take a look at the 2010 Half Marathon Schedule Page. The details about each event are located in the left hand sidebar.

The Mercer Island Half Marathon helps raise funds for colon cancer prevention and the charities supported by the Mercer Island Rotary Club Foundation.  March is Colon Cancer Prevention Month.

February 2009 Market Statistics

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What a great month of home sales activity for all of the Puget Sound regions. Mercer Island is showing strong growth in all aspects of its market and a number of high-end property sales.

Spotlight on Pioneer Park

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Mercer Island residents value their community for its small town feel just minutes away from the hustle and bustle of big city life in nearby Seattle and Bellevue.  Pioneer Park, a 113 acre forest located on the south end of Mercer Island, is one of the many features that makes the island a special place to live.  Unlike most parks in which trees are clear cut to make way for open grassy areas, Pioneer Park has been preserved in its natural, forested state since the city purchased the land in 1964.  The result is a secluded woodland retreat with 6.6 miles of trails through alder, big-leaf maple, Douglas fir and old-growth cedar trees that islanders can enjoy close to home.

Pioneer Park is divided into three quadrants and is centered around the intersection of Island Crest Way and SE 68th St.  Island Crest Way is the main road that connects the island’s quiet neighborhoods to interstate 90 on the north end, which makes the park easily accessible for residents of nearby cities.

Northwest Quadrant – Located across the street from the south end shopping center, the northwest quadrant is the most popular section of Pioneer Park.  Primarily a deciduous forest, this quadrant is encircled by the NW Perimeter Trail, a wide, flat, hard-packed trail that is easily accessible to wheelchairs and strollers.  The Fire Station Trail and the Horse Trail that run along the southern and eastern edges of this quadrant are both dedicated for equestrian use, while many other trails that crisscross the quadrant are perfect for hikers, bicyclists, and dogs on leashes.  Parking for this quadrant is located on 84th Ave SE near the northern tip of the park.

Northeast Quadrant – Separated from the northwest quadrant by Island Crest Way, this section of the park has the most even mix of deciduous and coniferous trees and the most varied topography.  The main path in this quadrant, Overlook Trail, cuts through the center of the park and runs along the edge of a ravine where it offers two overlook spots.   From Overlook Trail, visitors can access Ravine Trail that leads down into the ravine, through wetlands and connects to a bridge that crosses a small stream.  This is the only quadrant of the park not open to horses.  Parking for this quadrant is located midway along SE 68th St.

Southeast Quadrant – This 40 acre quadrant, located south of SE 68th St, is designed for and primarily dedicated to equestrian use.  Hikers, bicyclists, and dogs on leashes are also welcome on these trails, but must yield to horses and riders.  The Mercer Island Saddle Club houses 20 horses on a five acre site located adjacent to Pioneer Park and their members are frequent users of the southeast quadrant horse trails.  This quadrant consists primarily of Douglas fir trees.  Parking is located on Island Crest Way just south of SE 68th St.

As a forested retreat a short drive from Seattle and Bellevue, with accessibility for hikers, bicyclists, dog owners, wheelchair users, horseback riders, and children in strollers, Pioneer Park embodies many of the qualities that make Mercer Island a great place to live.