Multiple Offer Activity Increase

Ive written 3 offers for 3 different buyers in the last couple months, all were in a multiple offer situation. If you don’t think properties are selling or whether we have hit the bottom, think again.  I don’t need “experts” to tell me the markets improving, I see it.  I see it in those multiple offer situations and I see it in the decrease in the amount of inventory available, especially in the homes priced under $200K.

If your a buyer who has been waiting for the bottom, there is a good chance its behind us.

8000 reasons to buy a home now

It can take a buyer anywhere from 3-6 months to find a home and move in. With only 5 months to go for a first-time home buyer to take advantage of the $8000 tax credit, now is the time to make a move.

Click here to learn more on how the credit works and who qualifies

Not a Short Sale … Not a Bank Owned

Are these the new buzz words to create interest in a property? If they are, its working.

Seattle in top list of real estate markets likely to rebound

In Todays Real Estate segment on a recent Today Show episode, Real Estate Barbara Corcoran stated her belief that Seattle would be in the top 5 of real estate markets on a verge of recovery. Denver leads the way at #1.

The top 2 characteristics she’s says contribute to that rebound for Seattle are: 1. A strong base of existing business 2. Most educated population.

 

Pending home sales up in April

According to the Northwest Multiple Listing Service, “members reported pending sales for April surged 11.4 percent compared to twelve months ago – and rose 21.3 percent from March”.

Which is no surprise with the record low interest rates, the excellent selection of homes available at affordable prices and the ability for first time homebuyers to take the $8000 tax credit. Buyers are starting to recognize the amazing opportunity available to them.

April 2009 Single Family	Total Active Listings	Pending Sales	# Closings	Median Closed Price
Pierce	6145	1238	580	$225,000
King	13164	2646	1242	$350,000

 Statistics provided by the NWMLS

A search for the perfect color combination

I came across this really cool tool that I wanted to share.

Its called Multicolr Search Lab by Idee, Inc. Click Here to check it  out.

You are able to pick any number of color combinations from a color chart and it will search and retrieve images containing those colors from Flickr. 

I can totally see using this when brainstorming color combinations for an interior space or coordinating a themed event.  In fact Ive already been using it work up some new color combinations for my personal office (its really in need of a face-lift). Warning .. it can be extremely addicting, especially for us creative types.

Have fun!

Recycle Old Electronics – For Free!

Do you have a few old computers laying around like I do? Well now we have a place to bring them.  As of January 2009, Washington residents can now bring their electronics to certain recycling collection sites.

E-Cycle Washington is a new program that provides an easy FREE way to recycle your old televisions, computers and monitors.

Visit E-Cycle Washington to locate recycling locations and learn more about the program.

VA Home Loans = 100% Financing

By Matt Dill with PC Bank

“With the fall of 80/20 type loans that provided 100% financing …VA and FHA lending alike have risen to the forefront of home lending”.

 

The VA Home Loan Program is one of the last 100% financing loan programs. As a veteran borrower, you are able to purchase a home with no down payment and the seller can contribute up to 4% toward pre-paids, discount points, and debt. Additionally, the seller can pay all closing costs. In some cases the seller will pay in excess of the 4% to create the optimal purchase loan and financial opportunity.

 

Are you an active military, a veteran of the U.S. Armed Forces, or an unmarried surviving military spouse? There are 25 million veterans in the U.S. today. If you fit into one of the categories mentioned above, you are likely eligible for one of the best home loans available today.

 

If you would like to learn more about VA loans or to find out if you qualify for the VA Home Loan Program, contact Matt Dill with PC Bank Home Loans at 253-286-5363.

 

To search for VA approved properties CLICK HERE.

How a Comparative Market Analysis (CMA) can help you

A Comparative Market Analysis is a method used to determine the value of a property. And although it is typically used to help a seller develop an asking price for their property in can also help them to estimate the equity in their property. This can benefit a seller in several ways: 

1.    Short Sales:  A short sale is when a homeowner may owe more than what a property can sell for. The Lender may consider accepting less than what is owned but will require a Comparative Market Analysis be completed. This is to verify the Seller’s estimated net proceeds and verification that indeed the sale would be short of the funds needed to payoff the existing debt.

2.    Refinancing: Before a homeowner can refinance an existing mortgage there needs to be enough equity in the property (Typically at least 20% on a conventional loan).  A Comparative Market Analysis can help a Mortgage Broker determine if the homeowners could qualify for the new loan.

3.    Loan Modification: Many homeowners have found themselves in situations where they can no longer afford their existing mortgages and cannot sell it for what they owe (as in the short sale situation). By working with their current Lender they may be able to adjust the terms of the existing mortgage, helping the homeowner remain in the home versus facing possible foreclosure.  Providing a current market analysis with the loan modification request can strengthen the homeowners’ chance for modification. 

Knowing what your home is worth and the amount of equity in it, is important information to have whether you’re selling, facing foreclosure or just doing some basic financial planning.

For a free Comparative Market Analysis you can visit my website by clicking here or contact me directly to learn more.

Its tax time – Don’t forget your homebuyer tax credit!

As you prepare your taxes this year don’t forget, if you purchased a principal residence between April 9, 2008, and July 1, 2009, you may be eligible for a credit of up to $7,500.

The credit was a provision that was included in The Housing and Economic Recovery Act of 2008. The credit as it stands, is like an interest-free loan from the government and must be repaid over a 15-year period. You must also have not owned another principal residence during the 3 year period ending on the date of purchase. If you believe you may qualify, make sure to talk with your accountant to see if you can take advantage of this credit.