Real Estate Thoughts & Advice for the Auburn, Kent, Maple Valley, Puyallup, Renton & Tacoma Areas

10 Tips to Buying an REO Listing

10 Tips to Buying an REO Listing

10 Tips to Buying an REO Listing for first-time homebuyers Working with first time homebuyers makes bank-owned (referred to as REO … Real Estate Owned) properties seem like an attractive purchase opportunity. These properties on which foreclosure has been completed are now owned by banks (think Wells Fargo, Chase, Bank of America, etc.), HUD, VA or government backed investors (GSEs) such as Fannie Mae or Freddie Mac. They’re attractive to homebuyers because transactions involving such properties typically close fast, unlike short sales that can drag on for months. Some REO properties... [Read more...]

It’s Time to Sell in Auburn, WA!

It’s Time to Sell in Auburn, WA!

It’s Time to Sell in Auburn, WA! Did you know? … Þ In January ‘12, the median house price of Auburn addresses was $224,745? Þ In January ‘13, the median house price in Auburn was $259,780? Þ In January ‘12, there were 260 Active listings*, and 56 closed sales in Auburn? Þ In January ‘13, there were 147 Active listings*, and 92 closed sales in Auburn? Þ In 2012, Auburn closed sales were 16% short sales, 19% bank-owned properties, 28% new construction homes, and 37% traditional sales? Þ In January ‘13, Auburn closed sales were 19% short sales, 17% bank-owned, 37%... [Read more...]

Staging Without Spending — One Key to Home Selling Success!

Staging Without Spending — One Key to Home Selling Success!

Staging Without Spending — One Key to Home Selling Success! Effective staging is a tremendous benefit when needing or wanting to sell a home. But professional staging can be expensive. Don’t get me wrong — professional stagers do absolutely amazing jobs! But sometimes the money’s just not there to hire a stager, buy a bunch of staging materials or rent snazzy furniture. Although the real estate market seems to be recovering slightly, most sellers still need to capture every penny possible from the sale of their existing home — perhaps to gain maximum sufficient funds... [Read more...]

Successfully Buying a Short Sale Home

Successfully Buying a Short Sale Home

Successfully Buying a Short Sale Home is a bit more complex than buying a traditional home listing. It’s important to not only work with an experienced and skilled Buyer’s agent, but to also consider the experience and skill of the agent representing the Seller. In any home buying purchase, the buyer should carefully evaluate a home based at least on these criterion: Location Condition Price vs Fair Market Value of the House Potential Closing/Settlement Date When considering the purchase of a short sale listing, however, a savvy short sale buyer should also consider the answers... [Read more...]

King County Downpayment Assistance

King County Downpayment Assistance

King County Downpayment Assistance Washington State’s Housing Finance Commission announced today that their House Key Plus ARCH downpayment assistance program has just received limited funding for borrowers purchasing in the Eastside Cities of King County, including areas extending from Bothell through about Issaquah. This payment deferred program provides up to $30,000 in downpayment funds (depending on qualifications) for households earning 80% or less of the King County area median income. There are property purchase price limits involved and the buyer must still have about 2% of the purchase... [Read more...]

Real Estate Thoughts & Advice for the Auburn, Kent, Maple Valley, Puyallup, Renton & Tacoma Areas