MainVue Homes at The Bridges in Auburn, WA
New home-building in Auburn, WA continues to increase, as evidenced by a quick drive through the area. One of the most ambitious new developments in Auburn is The Bridges, by MainVue Homes, located just east of 124th, between 304th and 288th. A few years ago I watched as the area was cleared and developed with streets, lights, and playgrounds, and then the real estate economy tanked and the property sat idle … until recently! Unfortunately, it appears that the folks at MainVue homes have decided not to list their homes on our local MLS. Visiting both their Web and physical sites indicate that... [Read more...]
You Can Test Drive a Car … But Not a House!
The last couple of weekends have included a few hours helping our son decide what car to buy. We’ve been to this dealer and that, had him prequalified … and have driven a number of cars, usually with the all-chatty salesman in the backseat telling us exactly why this car is THE one to buy. We’ve driven some brand new cars and are now taking a look at a few that a just a couple of years old (Mom insisting that maybe the payment will be a bit easier on his monthly budget.) Now that we’ve graduated to the used car market, I’ve been busy reading CarFax reports, looking over my son’s shoulder... [Read more...]
A Great Lender Helps From Start to Finish, Especially in a Short Sale
One of the very first steps in the home buying process is determining how a Buyer will pay for their new home. Not only must a Buyer determine much they can afford, but how an offer must be structured–whether closing costs must be paid by a Seller, gift funds will be used for a down payment, how much of a down payment will be paid, and so on. Having a great lender as part of the Buying team is critical, but especially so with short sale purchases. It can be difficult for a lender to help a Buyer determine exactly how much they might need to close the sale. A good faith estimate on the front... [Read more...]
Okay, Should You Sell … and Buy in 2012?
Like many, you may have been sitting impatiently on the fence for the last three years hoping for a miracle that would allow you to sell your existing home without sacrificing too much more equity … and buy at today’s price and interest rate. At least once a week I get a call from a previous client or someone “just checking out the market,” wanting to do exactly that. And, who absolutely wouldn’t want to buy a house with the bargains out there??!! Let me try to help you make a bit of sense out of this type of scenario. The latest statistics from the Office of Federal Housing Economic... [Read more...]
Congratulations on Your New Home!
Five months in the making … and here it is! Congratulations, Gary! May you enjoy many many years in your new house! And who wouldn’t – all that brand new space just for you, combined with an awesome view of Mt. Rainier and the foothills! Whoo hooo!!! There’s a mountain there … a BIG one. Darned clouds got in the way! Be Sociable, Share! Tweet
12 Reasons Why That House Might Not Qualify for FHA Financing
In my practice, FHA loans are used for the majority of home purchases. At the moment, without a doubt, an FHA 203(b) is the most logical choice. Credit score qualifications start at about 580 (depending on the lending institution involved), interest rates are awesome, the minimum down payment requirement is only 3 1/2%, closing costs run right around 3-3 1/2% of the purchase price (although very often the seller is willing to assist with the Buyer’s closing costs). However, one thing to remember is that not only do YOU, the buyer, have to qualify for a mortgage loan, the home must also... [Read more...]
Congratulations to a Few More Summer-Time Closings!
I was pleased in August and September to assist a few more families with new homes. A big congratulations to them and wishes for many many years of happiness, laughter, and peaceful times in their new abodes: Diane, Mariah, and Sierra — Congratulations on your new condo purchase in Issaquah! It was so much fun to work with all you ladies. I think Mariah may have a future in real estate — keeping me on my toes and asking so many great questions during all of the house-hunting fun! Joe and Okju — Wow! Always amazing when a home with a big yard in a wonderful neighborhood is found... [Read more...]
Congratulations Eric & Melanie!
First time homebuyers Melanie and Eric are thrilled with their new house! Congratulations to you both; may you have many many years of happiness here. Now crack open that champagne and celebrate! Thank you for allowing me to be of assistance in your home search and purchase. I was truly honored! And to two of my favorite team members: Marilyn Brown at First American Title & Escrow — Thank you for coming through at the last minute. This turned into a last minute affair, didn’t it? Dave Jagosh — Nobody does inspections as well as you do them! Be Sociable, Share!... [Read more...]
Being a Buyer’s Agent Requires Amazing Knowledge
Being a Buyer’s Agent … that broker who assists buyers find their dream house and guides them through to closing of their purchase … requires an amazing amount of knowledge in today’s market. Just a few years ago, being a buyer’s agent essentially involved locating and assisting a buyer in writing an offer, carrying it around to all parties involved and shepherding the transaction through to closing, whereupon the golden keys were given and the buyer became the happy owner of their new house. (Yes, I know there was more, but essentially.) While those steps are still... [Read more...]
4 Critical Facts When Selling Your Manufactured Home
Selling a manufactured home on land is a bit different than selling a stick-built home. There are a few more inspections and requirements, not to mention finding a lender that will lend! http://www.flickr.com/photos/afroswede/474602/ Here in the Auburn area of Western Washington, I’ve had the dubious pleasure of working through a few sticky manufactured home transactions over the last few months. Now, don’t get me wrong — working with the buyers and sellers was truly a pleasure! It’s just that there are so many different steps to be taken that sometimes clients can feel a bit overwhelmed... [Read more...]
What Kind of a Buyer are You?
Talking with prospective buyer clients every week involves having frank discussions about how they see themselves reaching their new house goals. Listening to them describe the sort of house they want along with how they see themselves living in the home, the neighborhood and location, helps set up a relationship that describes how a buying transaction will proceed. Some folks are emotional buyers. They drive into a neighborhood, walk into a house and instantly fall in love. THIS is the house. The sofa goes there. The kids can set up the WII there. The stand mixer fits perfectly into that corner... [Read more...]
So … What IS a Buyer Agency Agreement?
In a previous post, I wrote a bit about why a Buyer Agency Agreement is important and how a Buyer / Broker relationship might occur. I also indicated that, as a rule, I require a Buyer Agency Agreement to work with Buyers. So what, exactly, does a Buyer Agency Agreement obligate a Buyer to do? Likewise, what does it obligate the Broker to do? Here are the essentials of a typical Buyer Agency Agreement: Appoints a specific Broker (agent, salesperson—ME!) to work with you, but also creates an agency association with the Firm with whom the Broker works. It helps you understand that, not only are... [Read more...]
Working With Buyers — That Scary Buyer Agency Agreement
I love working with Buyers. The excitement of shopping for houses, seeing homes through their eyes, and the ultimate gratification everyone has when the transaction closes and move-in day occurs! It just doesn’t get much better than that!! But working with Buyers is a tremendous amount of work. There’s a lot of stress involved, a myriad of big and little steps, lots of time on the phone, on the computer, in the car. Sometimes several offers are written and negotiated before an offer is ever accepted by a seller. In today’s world of bank-owned homes, short sale properties, pre-foreclosures,... [Read more...]
Another Rewarding Closing for First Time Homebuyers!
It’s just SO rewarding to hand the keys over to first time homebuyers! Especially one that’s been five children in the making! Last night I had the pleasure of giving the keys to a buyer moving into their very first … very own … brand new, built-just-for-them, house. And it was really cool! Imagine having five children and never owning your own place. Raising the crowd in a two-bedroom rental. For years! Saving, saving, saving, so there was a downpayment. And then having home prices and interest rates drop significantly enough so that you can afford a five bedroom, plus... [Read more...]
FHA Mortgage Insurance Changes & How They May Impact a Sale
http://www.flickr.com/photos/thetruthabout/4041556932/ You may have heard that costs surrounding FHA loans is changing in October, reducing the dollar amount needed at closing for Upfront Mortgage Insurance, while increasing the monthly portion of mortgage insurance that is added to a homeowner’s payment. If you have previously been approved for an FHA loan but haven’t yet found a home, you’ll want to be sure to factor in the larger payment requirement into your budget, along with contacting your home loan advisor to be sure that your preapproval is still valid for the higher... [Read more...]
