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Ed Finlan Group

Ed Finlan Group

Tuesday, December 7, 2010

Short Sales in Skagit, Whatcom, Island, San Juan and Snohomish Counties

Just remember that if you are interested in an alternative to foreclosure and think a short sale might be the solution for you, please contact us right away.

We help homeowners in Whatcom, Skagit, Island, San Juan & Island Counties as well as the cities of Bellingham, Ferndale, Lynden, Anacortes, Oak Harbor, Bow, Burlington, La Conner, Mount Vernon, Sedro-Woolley and Concrete. If you are outside of this area, we have a vast network of Short Sale Specialists & Real Estate Agents, Realtors and Brokers who specialize in Short Sales.

We are experts in negotiating with lenders & banks and have a team of experts who help you through this process. If you are a Realtor, Broker, Real Estate Agent, Loan Officer or anyone else who might be eligible for a referral, we offer a 30% referral fee.

If you are a Realtor, Broker, Real Estate Agent, Loan Officer or anyone else who might be eligible for a referral, we offer a 30% referral fee. Contact us for more information

Find out more at, &

Monday, November 8, 2010

Real Estate News & Commentary by Ed Finlan, November 8th, 2010.
Mew data released this week shows that the nation’s largest banks are holding monstrous volumes of soured home loans. Not only has the housing crisis left major lenders knee-deep in an ocean of non-performers, but added exposure to early delinquencies means they could sink even deeper.

According to an analysis by Weiss Ratings, an independent ratings agency covering the financial sector, JPMorgan Chase, Bank of America, and Wells Fargo each reported more than $20 billion in single-family mortgages currently foreclosed or in the process of foreclosure as of midyear.

In addition, Weiss found that for each dollar these banks held of mortgages in foreclosure, there were an additional $2 in loans in the pipeline that were 30 days or more past due.
Among all U.S. banks, JPMorgan Chase has the largest volume of mortgages in foreclosure or foreclosed with $21.7 billion. On top of that, the company has $43.4 billion more in mortgages past due.

Compared to JPMorgan, Bank of America has a somewhat smaller volume of foreclosures — $20.3 billion — but it has a larger pipeline of past-due mortgages at $54.6 billion.

Wells Fargo’s foreclosures come to $20.5 billion, with $48 billion in overdue home loans.

According to Weiss, including all foreclosed and delinquent categories, Bank of America has the largest volume of bad mortgages among U.S. banks, with $74.9 billion, while Wells Fargo has the second largest with $68.6 billion.

Other banks, despite their large size, are less heavily exposed to mortgage difficulties. Citibank has $6.3 billion in foreclosures and $19.2 billion in past-due mortgages, or a total of $25.6 billion.

The volume of foreclosures and delinquencies held by other large banks, such as U.S. Bank ($9.5 billion), PNC Bank ($8.9 billion), and SunTrust ($7.3 billion) is even smaller.

Martin D. Weiss, chairman of Weiss Ratings, said, “In addition to the volume of bad mortgages, the vulnerability of each bank to the foreclosure crisis depends on the capital and loan loss reserves it has set aside to cover losses and other factors such as its earnings, liquidity, reliance on less-stable deposits, and the quality of its overall loan portfolio.”

Among banks with $1 billion or more of mortgages already foreclosed or in process of foreclosure, Weiss found that Wells Fargo has the greatest exposure to bad mortgages in proportion to its capital. For each dollar of Tier 1 Capital, the bank has 75.4 cents in bad mortgages, or a ratio of 75.4 percent.
The equivalent ratios for JPMorgan Chase, Bank of America, and SunTrust are 66.8 percent, 66 percent, and 57.6 percent, respectively.

Weiss explained that losses on foreclosures and past-due loans will first be absorbed by the banks’ loan loss reserves, but then they may have to dip into capital.

“Considering that many large banks also take other kinds of risks beyond strictly home mortgages,” Weiss said, “these are very large exposures that could directly impact shareholders and even the safety of depositors.”

Reflecting both their exposure to foreclosures and the other economic factors, the JPMorgan, BofA, and Wells all merit a rating of D (“weak”) or lower from Weiss Ratings, indicating vulnerability to financial difficulties and instability if conditions continue to deteriorate.

Monday, November 1, 2010

I don't think we are done yet....

Home prices expected to slide another 8%

It's hard to be optimistic for housing in light of weak sales, sluggish employment, falling prices and robo-signing.

Saturday, October 30, 2010

Rambler in West Mount Vernon for sale 3 bed, 1.5 bath 1527 sq ft. Nicely kept rambler on large lot. Fenced back yard with tree house and garage. Recent updates to roof, furnace, hot water tank, electrical & kitchen. Large brick fireplace, large living room as well as huge bonus room. Contact Ed Finlan 360-542-6868 or,

Wednesday, October 27, 2010

Monday, October 4, 2010

New site dedicated to Shelter Bay Real Estate

I just wanted to tell everyone about a new site I have that is dedicated to real estate in and around Shelter Bay. Shelter Bay is a gated community located on the Swinomish Tribal lands near La Conner, WA.

At this site you can see all the homes for sale in Shelter Bay as well as find analysis of what homes have sold for and are for sale for.

Check it out at You can also check out the page at facebook I created for Shelter Bay at!/pages/Shelter-Bay/140823345936760?ref=ts

Wednesday, September 22, 2010

Burlington WA home for sale, home for sale in Burlington WA 3 bed/2.5 bath 2064 sq ft. Built in 2006, In quiet area of Burlington, WA. Master on the main, office/den, 2 car garage Ed Finlan John L Scott Real Estate, 360-542-6868

Monday, September 20, 2010

Shelter Bay homes for sale, Real estate in la conner 4 bed/3 bath 2632 sq ft, nice view of marina, channel & mountains. Rambler on daylight basement. Open floor plan, short sale. In the lovely Shelter Bay Community,  Ed Finlan John L Scott Real Estate, 360-542-6868

Shelter Bay View homw-SHORT SALE

Shelter Bay View homw-SHORT SALE

Shelter Bay View homw-SHORT SALE

Thursday, September 2, 2010

Waterfront home in La Conner for sale, View home in La Conner 2 bed, 1 bath home 1176 sq ft right on the water with over 100' of beach, stairs to beach. 1 car garage & 2 carports. Stunning view of bay. Short Sale, Ed Finlan, John L Scott Real Estate, 360-542-6868

View home for sale in La Conner, La Conner view home for sale 3 bed, 3.75 baths, 1940 sq ft with incredible view of bay. Incredibly well built cabin style home. 2 car garage with unfinished living space above. Lower level has office living space but could be its own unit. Ed Finlan John L Scott Real Estate 360-542-6868

Spectacular view home for sale in La Conner, WA

Tuesday, August 24, 2010

La Conner view home for sale, Shelter Bay view home for sale Great Shelter Bay home with partial view. 3 bed/1/75 bath, 1,643 sq ft. Open concept home with vaulted ceilings & large stone fireplace. Low maintenance yard. Large deck taking in the view of the marina. Master has very large walk in closet & full bath. Nice sized utility room with lots of storage. 2 car garage with plenty of off street parking as well. Shelter Bay amenities include 2 beaches, picnic areas. clubhouse, 2 pools, golf course, marina, boat launch, tennis courts, sports court & more Ed Finlan John L Scott Real Estate, Skagit Real Estate Group, 360-542-6868