Residential Real Estate in SW Washington State

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Sometimes a Short Sale is Just NOT the Right Answer!

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I like to consider myself a resource for sellers who are considering their options. Should they pursue a short sale? Should they just walk away? Should they just try to hang on no matter what?

Recently I had an opportunity to meet with a wonderful couple that were truly truly trying to do “the right thing,” as they phrased it. We met for a couple of hours while they showed me around their home.

Their pride was obvious. This house was their baby. They’d improved and lovingly planted almost every inch of the yard … and the inside was eat off the floor clean. Every room was polished and tidy. They were devasted that life had taken an unfortunate turn and they just couldn’t figure out how to hang on any longer.

After talking through the options, I sent them to talk to the other necessary experts — the attorney and the accountant.

Yesterday the husband called me back with an apologetic voice: “The attorney said that it would make absolutely no difference whether we let the bank just have the house, or short sale it. We’ve decided to just walk away.” He was distraught, thinking he’d “wasted my time!”

Heavens. Sometimes a short sale is just NOT the right answer. I reassured him that I was so happy to have met him and his family and wished them well.

Is a Loan Modification for Me?

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A number of considerations should be made when you are either in trouble already with your current mortgage, or anticipate that you might be soon.

One excellent option might be a loan modification, which is designed to reduce the amount of your mortgage payment to no more than 31% of your gross income.

Unfortunately as of this time, it appears that most loan modifications are unsuccessful, with something less than 5% of all applicants successfully completing the loan modification program being reported by some analysts.

However, don’t be deterred! Perhaps you’ll be able to complete  a loan modification and be able to remain in your home. According to some reports, the biggest issue with unsuccessful loan modifications is that homeowners do not adequately complete the necessary application, or do not provide sufficient documentation as required by the lender. Of course, there are also reports that lenders don’t recognize that a homeowner has completely required with all requirements. In any event, it doesn’t appear to be an easy or guaranteed process.

The first step is to determine whether or not your lender will change your existing loan to more favorably meet your financial requirements. This process is formally termed “loan modification.” Under the terms of the federal program, HAMP (Home Affordability Modification Program), essentially lenders are encouraged to offer loan modifications to homeowners that are either already behind in their payments or who face the prospect of soon being so.  

Be sure to contact your lender and ask for their loan modification package. You should receive, at a minimum, a list of exactly what they require, and how to proceed and apply.

The information presented on this Site should not be construed as legal or financial advice. You are advised to seek consultation with a qualified Attorney and Accountant. ©Gabrielle Nemes, 2010

Thanks to Everyone — Another Sale Closed!

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Mission accomplished! The Seller of this little wonderful little house left a legacy for the new Buyer family — “Here’s a place where you can raise your own young children, with places to run and play and shout and sing. We loved it and know you will too.”

This transaction was simple and surprisingly quick! With particular thanks to Erik Reault of Cobalt Mortgage who put together a very fast and efficient FHA 203k rehab loan, and thanks to the cooperating agent on the transaction, Jeff Kissick. Thank you both for a job well done and your great communication.

And, of course, special thanks to the members of my valued team — Marilyn Brown (and Dawn Carlson, my local rep) and the staff at First American Title and Escrow in Kent — you guys rock! This one moved so fast that it caught us all scrambling at the end to get everything done in time. And thanks also to the staff at Stuth Septic for stepping up so quickly to complete the septic inspection and to Neighbors Septic for popping out at the last minute to pump the tank.

There were rocky moments as there are with every transaction, but the Seller and I definitely appreciated everyone’s efforts!

Thanks again to everyone involved!

Red Skelton’s Pledge of Allegiance

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One of my favorite gentle clowns (other than the humble clown I live with and married, of course!) is Red Skelton.

A few days ago while surfing the Web and looking for a gift for my hubby, I stumbled across Red’s recitation of the Pledge of Allegiance. Haven’t seen this in years! I hope you enjoy and appreciate this as much as I do. It’s so beautiful … and appropriate as we head into our 4th of July, Independence Day weekend. (Go to the bottom of the page for the video version.)\

Red Skelton Pledge of Allegiance

Another Transaction Closed!

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There are some transactions that are particularly satisfying when they finally close.

I have to say that this Listing is one that took exceptional effort, but after visiting the home to drop off keys to the new buyers, their palpable excitement and relief about being in their new home just left me with such a sense of fulfillment.

Now this was a transaction just overflowing with issues … big issues! Shortly after listing, there were difficulties with the weather, with leaks in the kitchen, with the estate auction (hmmmmmm, I’ll think twice, 3 times, about recommending that guy again), then with fielding call after call after call of low offers from agents informing me that the price was too high and that the place just wasn’t worth anything more than the land. And yet there were offers — eight of them. Most were close to the asking price. Others not so much. One was dreadfully low.

And then there were endless visits to the County and the City of Auburn trying to find appropriate records for permits, as-builts, well certifications, foundation requirements, and on and on. Meeting with contractors for bids and work to be done.

However, floating through all of this were these Buyers. They made three offers before the Seller felt secure that the offer was strong and solid enough to survive the remaining challenges of missing permits, foundation certification, title elimination, etc.

Finally, FINALLY, six weeks to the day after the contract scheduled closing date, it did. What a cause for celebration!

I remain grateful for my client, the Seller, who repeatedly listened to my advice and then took it. As with every client, we talked often. About how things were going, or not going, or just the general frustration of trying to get things done. At the end, about the frustration of the current lending climate where a Buyer’s approval could get challenged over the most mundane and ridiculous items. About the Department of Licensing who decided that they didn’t like the “appearance” of a notary’s stamp, and on and on.

The house sale closed! (whew)

Bank Took This One Back!

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Links

  


Click Here to see the Virtual Tour
 

 

Photo Gallery

Eating Nook & Corner of Kitchen

Gas Fireplace in Family

Kitchen w/newer counters

Dining as seen from corner of Living room

Bonus Room

Master Bedroom

Master Bath

Back Deck
Description
The Bank took this one back and auctioned it for less than accept our much higher offer. Sometimes things just make no sense in the short sale world.

Bank approval was received today and this sale is READY! We have the attention of the bank negotiator too, he’ll move quickly if you do!!

At almost 2000 square feet, this is a BIG house for only $214,000. (Did I mention this price is APPROVED???) This rambler-styled home with fenced yard and great Timber Hills neighborhood, is located in convenient Covington, just minutes away from great shopping–Costco. Home Depot, Kohls–not to mention Highway 18 for easy commuting.

Through the front door is the main living area with the living, dining, kitchen, family, and laundry rooms, plus three bedrooms. In the master suite are an extra-long closet and recently updated 3/4 bath with tile floor & walk-in shower. Sliders just off the dining room lead to the fenced back yard, wonderful large deck with built-in seats, and patio.

Just four steps up and above the garage, is a huge 440 square foot bonus room, which could also be a very generous 4th bedroom as there are two deep walk-in closets.

Storage everywhere–There’s a pull-down attic stairway in the hallway leading to floored additional storage space. And a few steps down from the kitchen are an extra-deep double-door garage with openers, workbenches, shelves and storage.

You’ll need to replace the furnace, but the rest looks largely cosmetic. Should be a fairly easy fixer!

Features
Bedrooms: 4
Bathrooms: 1.75
Parking Spaces: 2
Year Built: 1986
Subdivision: Timber Hills
Lot Size: 8012
Garage Size: 440 sq ft
School District: Kent
Square Footage: 1970
Agent Name: Gabrielle Nemes
Broker: RE/MAX Select R.E.
MLS #: 11919

 

Location
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Maple Valley Fixer — Soooo Serene!

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Looking for serenity and quiet? The hooting of an owl serenaded us while taking these house photos! Backed by the Cedar River Watershed and edged by an empty lot, this home is perfectly sited for a peaceful retreat after a long day!

The current owner is a mason and her skillful tile work is evident throughout the house and yard. You’ll need to finish up much of the home. As an example, the master bedroom remodel was started years ago, but circumstances didn’t allow completion. The home needs flooring, windows, furnace or wall heaters, kitchen cabinets & counters, trimwork, and more.

But when done, in addition to your lovely home, you’ll have a huge back patio perfect for entertaining, a circular driveway, lovely lush plantings, and the space to park all your toys. No homeowner association here!

Click Here to see the Virtual Tour

Baseball & Babies, It Just Doesn’t Get Any Cuter!

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For the last month or so I’ve been assisting a wonderful couple find a new home. As we’ve gotten to know each other, I was delighted to find that not only are they the parents of darling little Noah, they were huge Ken Griffey, Jr. fans. In fact, the first time I chatted with them prior to their move to Washington, Dad was absolutely certain that four-month old Noah already knew how to play catch!

As the proud grandma of our own little Tyler, just one month ahead of Noah, I decided it was time to get baseball hats for the both of them, which lead to a pair of tickets for my relocated clients. The hats were HUGE on both of the boys, but little Noah loved the game!

Certified Short Sale and Foreclosure Resource

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I recently completed requirements by the National Association of Realtors to receive certification as a Short Sale and Foreclosure Resource, although I’ve been assisting buyers and sellers of these types of properties since 2004.

Taking the certification class was a fascinating experience – of the group of approximately 50 agents present, fewer than 30% of the agents had ever handled either the buyer or seller side of a short sale property! Wow, where have they been and how on earth are they still in business?

When questioned about where they work, well over half of the agents at the class focused on the east and northeast sides of King County – i.e., Bellevue, Redmond, Issaquah, Sammamish, etc., where short sale and bank owned properties aren’t as prevalent as they are in my practice areas. (Briefly, a short sale property is identified in our MLS as one where a property’s sale price is less than its outstanding indebtedness and some sort of negotiation, concession and/or approval is needed by the lien holder(s) before a sale can be completed.)

These types of transactions – for BOTH Sellers and Buyers – require considerably more experience and expert handling than do “regular” purchases and sales (whatever those are – I’ve almost forgotten!). From our informal classroom survey, it’s possible than over 70% of agents in our area have never handled a short sale or bank-owned property!!

Therefore, when you find yourself in need of help – or know someone who does – buying or selling short sale or foreclosure properties, call an experienced agent! I can be reached by phone at 206.300.8421 or by e-mail at gabrielle@gabriellenemes.com.

Amazing View and Fantastic Home — All in One!

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This unique Northwest home has so many things to offer!

The main living area with kitchen, dining room (centrally located by the kitchen and living room), and living room is open and spacious — perfect for family & friend gatherings. There are two bedrooms on the main level and one full bath. Upstairs is a fabulous master suite, while the lower level offers a large family room, 1/2 bath and huge bonus room. There is a two-car garage plus two-car carport, wonderful yard, and view like no other.

Call to see this home today!

Listing courtesy Geri Wehry of RE/MAX Select R.E.

Price Reduced! — I need a little work … but

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There’s GREAT potential here. A little TLC and you’ll have a wonderful home. Vaulted ceilings in living room, skylight over the stairs. Downstairs rec-room, plus a 1/2 bath. Big lot on greenbelt, plus HUGE 4-car tandum garage!

listing included courtesy of Dawn Rushton, RE/MAX Select R.E.

Want to Sell Your House Fast?

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Drop the price!

The first two months of sales data in the greater Auburn, Washington tell the story perfectly — Want or Need to Sell Your Home Fast? — Drop The Price! Or at least price it within the range of those houses that are actually selling:

Granted, this little chart only shows three months of home sale activity in the greater Auburn area, but it clearly reflects that homes sell faster when they are nearer the lower end of the pricing spectrum.

Here you can see that the average home listing price is above $300,000, but the average price for home sales that actually closed (i.e., made it all the way to the exchange of keys!) was in the low-mid $200,000 range. It’s further telling that homes in those upper dollar amounts for Auburn, stay on the market longer than those than ultimately are priced in the lower $200’s — 100+ days compared to 58 days and 82 days.

It’s important to remember that “Solds” are a result of homes that went Pending 30-60 days prior.

So ……

Compare the number of days for houses that went pending in December to those that closed in February. For houses that sold in December, one would need to compare the days on market for those that went pending in October or November.

And I’m thinking that the closed prices in March will be higher too! Look at the pending $$ for February! (Yeah, I know, I get excited about these things ……………..)

Bank Rejected our Offer, Then Auctioned

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Sometimes the decisions of banks make absolutely no sense in the short sale world. The bank rejected a solid offer on this house, then auctioned it for significantly less money. Go figure.

With almost 2000 square feet, you’ll love this rambler home with step-up bonus room in Timber Hills! Walk through the front door to the living, dining, kitchen, family, and laundry rooms, plus three bedrooms.  In the master suite are an extra-long closet and recently updated ¾ bath with tile floor & walk-in shower.

Just four steps up and above the garage, is a huge 440 square foot bonus room, which could also be a very generous 4th bedroom with two deep walk-in closets. Don’t miss the pull-down attic stairs in the hallway leading to additional storage space! The home’s lower level is entirely comprised of an extra-deep double-door garage with openers, workbenches, shelves and storage.

Sliders just off the dining room lead to the fenced back yard, wonderful large deck with built-in benches, and patio. With minor repairs & new carpets, this home will be perfect for years of living. Offered as a short-sale property and priced to sell!

Welcome to Real Estate!

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While driving between appointments a couple days ago, I called my daughter to check up on grandbaby Tyler. The car and traffic was quiet and it was a nice break in an otherwise hectic day. After learning about the latest baby accomplishments, inevitably we drifted into what my day had been like and what I was up to at the moment. To me, it was just another day … going to a vacant listing to meet with a plumber after water was found all over the kitchen floor.

I was struck by her comment “Mom, you’re always out there taking care of other people’s houses. I can’t believe you do that. It seems like they should be doing this stuff themselves.” My response was “Welcome to Real Estate!”

Thinking back, my open-ended job description has changed significantly over the last two-three years. Is this a result of the “economy?” A result of my own changing standards and desire to be of help to folks? Or just laziness by allowing myself to get sucked-into agree to tasks that maybe could be delegated. Hmmmmmmm

Certainly my business profile has changed:

  • Most of the homes I list and market are vacant. Used to be they were almost never empty!
  • The majority of my listings are the result of financial distress on the part of their owners.
  • The majority of the Buyers I assist have never owned a home before.
  • Most of the Buyers are young, just starting out in their real estate ownership lives.
  • A significant chunk of my business (almost 40%) comes from internet exposure.
  • Nothing is fast — not the marketing time of a listing, nor the “finding a house and closing the sale” time with a Buyer.

So what does that mean to the actual “practice” of real estate?

Well, it means that my job description continues to evolve. Buyers don’t jump as fast at a great house — we have to see lots of houses. And then once a house is identified, an offer is accepted, inspections are negotiated and completed, the whole nightmare of completing all of the financing tasks comes into play. Let’s see, over the last half-dozen Buyer clients I’ve had to:

  • Run to a Buyer relative’s home to pick up copies of bank statements and send them to the loan officer. Why me? Well, the Buyers got called away on a family emergency and somebody had to do this now!
  • Go to the local IRS office to try to get copies of tax returns when an underwriter demanded real copies at the last minute.
  • Attended a oh dear! super fun septic inspection in the pouring rain only to find out that the pump didn’t work.
  • Negotiated payment for the septic repair over a period of a week and ran it around to all of the various parties because, gee, we were already a week past closing and the bank was threatening to pull our short sale approval.
  • And on and on ……….

Sellers generally need help. They need hand-holding. Some of them are desperate. Most are anxious:

  • I spent the better part of a day mucking out a garage and yard. Why? Well, it needed to be done and the Seller was totally unable.
  • Met repair people at vacant listings!
  • Helped move extra furniture out of the house and into storage because … well, I have a truck available and these two single gals had no idea what I meant when I said “pack!”
  • Supervised the cleaning of gutters
  • Picked up replacement locks and had them changed out.
  • Bought food for an abandoned fish pond and cleaned it out.
  • Above all, I’ve listened and listened and listened to their anxieties.

Now WHY should an agent bother with this? My response is always … because it has to be done. Somebody has to do this. To serve my clients well, the house needs to be sold/bought, they need help to be on their way to their next step in life, to be their ear, sometimes to encourage, sometimes to nag. To serve my clients, I am their trusted advisor, their “do-er,” the one to whom they look when there are snags along the way … and sometimes even after the transaction closes.

It all comes down to service. Real Estate is a service business.

Welcome to Real Estate!

Watch Your Credit Score If You Do a Loan Modification!

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This morning I was startled to read an article in RIS Media, an information service that scans the news services and gathers articles impacting real estate — for homeowners, buyers and for agents — reporting that Credit Scores are being reduced as much as 100 points for successful Loan Modifications!

Loan Modifications are one avenue that troubled homeowners can take when income levels drop or expenses skyrocket due to unexpected bills such as medical costs. There are a number of different combinations and types of loan modifications available, although I understand that very few loan modifications have actually been successful.

I try to keep an eye out for success stories and, indeed, I know of ONE family that was successful in their quest for lower monthly payments due to a layoff. It took months, lots of frustration, but ultimately they were able to drop their interest rate from the upper “sixes” to about 3%. I’ve talked with a number of potential clients … and now clients … also about their pursuit of loan modifications so that they were able to remain in their homes. These folks just weren’t able to push a loan mod through and finally gave up and listed their homes for sale. A couple actually decided to let the house go back to the bank through foreclosure.

So sad.

RIS reports that homeowners that ARE successful in negotiating a loan modification through private lenders are now finding credit score reductions up to 100 points! That’s certainly causes a significant impact on the homeowner’s ability to obtain future credit at a reasonable rate. Just imagine having a credit score of 750, successfully negotiating a loan modification on your home loan so that you can stay in your house … then finding yourself in a position where you must purchase a new car. Under the scenario RIS reports, your credit score could now be 650 — a real hinderence in obtaining a car loan with a reasonable interest rate!

According to the RIS report, the federal loan modification programs, Making Home Affordable and Home Affordable Modification Program, do not reduce credit scores as the transaction is reported to the credit agencies as a “loan modified under a federal plan” as of Nov. 1. However, if you modify your home loan through a private bank or other lender, your credit score could be impacted significantly.

Click Here to read the entire article … then pay attention: Watch Your Credit Score if You Do a Loan Modification!

 

Get Paid $6,500 to Buy a Home!

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Repeat or Move-Up Home Buyer — Get Paid $6,500 to Buy a Home!!

Repeat or Move-Up Home Buyer Tax Credit Eligibility Requirements:
  • Buyers must have owned and lived in their previous home for five consecutive years out of the last eight years and purchase a replacement primary home.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.  Applies to homes priced at $800,000 or less.
  • The tax credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010.  In cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies for the tax credit provided the sale is completed (closed) by June 30, 2010.
  • Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
Top 5 Reasons it is a Great Time for Repeat and/or Move-Up Buyers To Purchase a Home:
  1. You are buying a home today that doesn’t have inflated equity
  2. You don’t have to sell your current home to qualify for the Tax Credit (although you would need to qualify for both house payments, if applicable)
  3. You have sellers willing to pay your closing costs and possibly buy-down already great interest rates
  4. You are in the first true “Buyers” Market in nearly 8 years and have the largest selection of homes in 15 years
  5. The current downturn in house pricing as well as low interest rates could allow you to buy homes in neighborhoods that were out of reach two years ago
With rates at an all time low, inventory at an all time high, and a $6,500 tax credit…it’s a GREAT time to buy another home!  Call or email me today to take the first step!
Thanks to Michelle Coolidge of Cobalt Mortgage for this information!

Incredible Price, Beautiful View!

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Puget Sound View

WOW! Zero down & FREE closing costs with preferred lender & FHA & VA approved!

Unit 110 is a gorgeous VIEW Condo with fresh interiors & beautiful plush, Frieze carpets. Kitchen boasts tiled counters, dual sink, stainless appliances with built-in microwave. Designer paint, fireplace with tile surround and big white mantel. Huge bath with tiled counters & surround accessible from master bedroom and hallway. Really generous master bedroom includes walk-in closet.

Perfect for commuters! Seconds to I-5, 99 (Pacific Highway) & busline. One assigned parking, plus loads of guest parking; Covered carports available.

Get the 8,000 first time homebuyer tax credit. This is NOT a short sale or bank-owned property!

Three additional units are also available:

Unit 108, priced at $149,999, is also 2-bedrooms with a gorgeous view. Similar to unit 110, it features granite tile counters and stainless appliances in the kitchen.

Unit 107, priced at $137,500, is located on the front of the building and is just steps away from parking. It features a tiled kitchen and white appliances.

Unit 206 on the second floor, is a one bedroom unit with a VIEW priced amazingly at only $119,999! WOW! Tile counters and white appliances.

Call me @ 206.300.8421 to make an appointment to see all of these units — or your own agent, of course. Units are open most weekends from 1-5pm.

Courtesy of Lorene Bennet, RE/MAX Select R.E.

Will Short Sales FINALLY Become Reasonable?

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j0078820As a busy agent in the south King County area and down into the Tacoma/Puyallup Pierce County areas, I both list properties for Sellers and assist Buyers in finding their “dream home,” whether it be a first time purchase or a repeat purchase.

While definitely not unique to these geographic areas, price points and demographics of buyers and homeowners for these areas seem to especially target short sales and bank owned properties. Or maybe it’s just the clients with whom I’ve worked over the last few months. Sellers need to sell–usually as quickly as possible–and Buyers just want to move in.

In any event, short sales have been a problem. It seems as though it’s nearly impossible to get bank approval in anything less than 120 days … and then IF we get approval, the banks want us to close the transaction in no more than 30 days, another feat that’s becoming more and more difficult.

Back in May, 2009, President Obama indicated that he was pushing forward legislation that would drastically change the method and bank requirements by which short sales would be approved. This was aimed at shortening the time the banks would have to approve such transactions, along with helping a distressed seller by eliminating the “pay back the difference to the lender” clause that has been a real sticking point.

FINALLY, on Monday Reuters reported that the Treasury Department has now set guidelines to simplify short sales. I can’t tell you how excited “I” will be when this finally happens. And when the Banks step up and get their own internal procedures in place to accommodate these new guidelines.

I’m maintaining an “I’ll believe it when I see it” attitude. It’ll be cause for rejoicing!!

AR Gay Sig

Just for Fun — 50 Strange Buildings

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wurm houseSome time ago I stumbled on a quirky little site, Random Web Site , that specializes in taking one to random sites, usually obscure. It’s a fun timewaster, but, of course, one has to be careful not to get too sidetracked (you know … that NEVER happens to me!) And, as you can imagine, browsing the Web at random sometimes leads one to the oddest things.

Now, before showing you these goofy buildings, you must know that I’m a pushover for houses and architecture. I mean, you know me! Always up to go see the newest subdivision, the biggest home show, the best in designer home tours!

Random Web site took me to see Village of Joy this morning! This fun and crazy Web site specializes is a very different look at buildings! What a step away from the usual mix of staid, ho-hum architecture!

So … without further adieu, visit Village of Joy’s 50 Strange Buildings of the World! Oh Yes! And while you’re there, visit their other links — I thought their 50 Weird and Crazy Cars post was a hoot too!

AR Gay Sig

5-Acre Mini-Ranch

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P1010358
Sale Pending!

Got horses, goats, alpacas, mini-beef?

Close to Auburn, Lake Tapps and city commuting, this five-acre mini-ranch is the best value in the neighborhood and perfect for your equestrian or other animal pastimes.

From the moment you enter the property through the remote-controlled gate, you’ll both be charmed by the thoughtful touches surrounding the house itself, and completely impressed by the two huge shops! There’s way too much to describe here, but consider that the flower beds are surrounded by poured concrete edges, there are numerous little water features, the house is surrounded by a walk-around deck, and entered through a wonderful covered porch. Step inside to a sun-lit entry (complete with a sun-tube), and then on to the generous formal living room/dining room combination, and a family room with a free-standing woodburning stove.

This home was well loved and it shows. Set up as a warm haven after working out on your own five-acre parcel, you’ll appreciate all the little touches that make this it truly a home. As you come in from the back into the mudroom, you’ll find plenty of places to stash the boots, even a built in window seat with storage. The kitchen is well appointed with new(er) black appliances and loads of cabinets.

The master bedroom has a huge walk-in closet complete with loads of wire shelves & storage units, and a five-piece bath with tiled double-sink vanity and soaking tub. The 2nd bedroom is just off the family room and also has private access to the 2nd full bathroom.

Outside are five fenced and cross-fenced, hot-wired acres plus two shops, RV-size carport, barn with hayloft, 2-horse (only one stall) loafing shed, well house, a fish pond, your own private well and septic system.

P1010272Barn measures 42′ x 50′

Hayloft 11′ x 50′

Five stalls (four with outside gates) with concrete pads

Three additional rooms on opposite side of stalls. Corner room is plumbed with utility sink

Extended covered storage on back and sides

1st shop

1st Shop as you enter the property

42′ x 24′, plus 12′ x 24′ attached carport, all with concrete floors

2 rollup doors with openers, plus one sliding door

Shop/storage room at one end

Pull-down ladder to additional loft storage

Insulated, 220V

2nd shop angle

2nd Shop, behind the house

36′ x 24′, plus shop bay

Insulated, 220V

Concrete floors throughout, plus parking pad

2 rollup doors & sliding door & barn doors

Edged by large kennel

 

Don’t You Love to Color?

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color butterfly

While working with some delightful clients a while back, I had a chance to interact with their two young daughters, Katy & Sarah. We let their Mom & Dad plow through some paperwork while we colored pictures and talked about playing on the computer.

Inspired, I decided to see what I could find that might be fun for them next time we had a chance to play! These sites look like SO much fun! 

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              • coloring.com   Oh this site is FUN with simple designs for the younger crowd! Click on a page to go to electronic coloring!
              • thekidzpage.com  This is  a flashy site with busy ads for all sorts of things for kids. The printable coloring pages are worth it though!
              • learn about the weather color pages by NOAA   Downloadable stories you can color about different types of weather … think Tornados, Thunderstorms, Snow!
              • color book links  WOW, this site contains links to tons of other sites that have .pdf  downloadable coloring pages! PERFECT!
              • Dover Publications  I get updates from Dover Publications periodically that show off their newest books. Most of them have sketch pages that can be downloaded and then colored. These are generally the high-end adult-type coloring pages for those of us that enjoy coloring with markers with lots of detail. Brings out the “kid” in all of us!
              • National Institute of Environmental Health  Okay, another site where the youngest of us can learn a bit about environment responsibility … these are fun pages that can also be colored online.
              • Crayola.com  Of course there has to be a page with a nod to our favorite crayons, right?

Okay, just one more … apparently there are hundreds of these sites. Who knew?

  • Coloring Pages for Kids  So here’s a resource references what looks like hundreds of other sites containing coloring pages. Have fun!

AR Gay Sig

8 Requirements for the New Homebuyer Tax Credit, Effective NOW!

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dont twiddle thumbsOkay all you first time homebuyers, you’ve been given a second chance! The Homebuyer Tax Credit passed and was signed into effect on Friday, November 6th! What GREAT news!

And it gets even better! Not only do first time homebuyers benefit from the tax credit … to the tune of $8,000! … any homebuyer could potentially benefit, up to $6,500!

Here are some of the highlights. Of course you’ll want to verify this information with your own accountant; as with most bills of this sort it’s many pages long and there are requirements that must be precisely met.

  1. A first time homebuyer is one that has not owned a home for at least three years.
  2. To qualify, a repeat homebuyer, must have owned their current home for at least five consecutive years out of the last eight years. So … imagine that you owned a home for at least five years, but sold it and have now been renting for the last two years. You qualify.
  3. If you’re a single person, you cannot earn more than $125,000; if you’re married, you can earn up to $250,000.
  4. You must be in a contract to purchase your new home on or before April 30th … but you have until June 30th to close the transaction.
  5. There’s no lag between the old deadline (November 30th) and the beginning of the new period … it’s as if the November 30th deadline never existed. The new deadline is April 30th (see #4).
  6. The maximum purchase price for your new home is $800,000.
  7. Your new house does not have to cost more than your last house. It’s okay to downsize!
  8. Oh yes! And as a measure to prevent fraud, you’ll have to attach proof of purchase to your tax return in order to qualify. I haven’t read the entire Bill, but I would anticipate that a copy of your final HUD (closing) statement will probably suffice. But do ask your tax accountant. They’ll know.

SO, Congratulations. Now, don’t twiddle your thumbs and let this run out AGAIN! Call me and let’s get shopping!!

AR Gay Sig

Not Buying? You’ll Still Benefit From the Home Buyer Tax Credit!

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pay with credit cardSince the beginning of 2009, first time homebuyers have benefited from an $8,000 gift directly from Uncle Sam. Qualifying for the gift was easy and thousands of people benefited.

As I write this, plans are in place to extend and modify the tax credit into next Spring (thank heavens), which will continue to help economic recovery for more folks than just those stepping up to purchase a home.

I’ve been amazed while hearing our various elected officials and economists speak shortsightedly, in my opinion, about why the tax credit should not be extended, nor should have been in place to begin with. I absolutely agree that the tax credit has a huge price tag. However, let’s think very briefly about what that tax credit is actually buying.

Just help buying a house? Hardly!

Think back to your last move, whether it was a house, an apartment, back to mom’s, wherever. What was the first thing you did? I can tell you what I did … picked up my wallet and headed straight to the store. I needed STUFF — boxes, moving supplies, shelf liner, paint, curtains, towels, furniture — STUFF!

That’s where the money goes. Not just in a pocket or frankly, not just back in a savings account. Is $8,000 too much? Did I buy $8,000 worth of stuff? Oh yes. And much more. Had I been given the $8,000 as a gift from my last move, my house credit card might not have been maxed out!

Homebuyer’s Tax Credit Has NOT Yet Passed — Not Quite!

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As I write this at 4:45 PDT, our local news station, along with several lenders and title companies are reporting that the Homebuyer’s Tax Credit has passed and will be extended to April 2010.

While that’s GREAT news, it’s not quite right yet, from what I can see.

Looks like the Senate has agreed to pass a resolution that would extend the $8,000 tax credit to First Time Homebuyers, a $6,500 tax credit for repeat homebuyers, both with qualifying issues.

However, a vote hasn’t actually taken place that passes the resolution as a stand-alone bill. At the moment, it’s hung up on the premise that it’ll be tagged onto legislation to extend unemployment benefits, although it appears that it’ll pass the Senate even as a stand-alone bill.

Read more at my favorite site: Reuters.

I’m holding off the celebration until it’s signed around! And I’ll be the first to let you know — that way we can ALL celebrate!AR Gay Sig

Senate Activity on Extending the $8k Tax Credit

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j0382678Like almost everyone I know that works in the housing industry, I’ve been chasing myself around for the last few weeks trying to get all of the First Time Homebuyers in my client list qualified and under contract so that they were eligible for the $8,000 tax credit … due to expire on November 30th. It’s been a wild ride, full of both elation and disappointment!

And, of course, absolutely full of the question “Will it be extended?”

I’ve been diligently trying to follow along with activities in the legislature while listening to other opinions about why it will and why it won’t and who thinks it’s a great idea and who thinks it’ll continue to bankrupt us all.

Reuters is one of my favorite places to find quality news feeds–in this case current activity on extending the $8,000 tax credit for homebuyers.

Yesterday, Reuters reported that Bill Nelson (Dem.) of the Senate Finance Committee indicated that the Senate would act this week on the tax credit and that it would likely be extended for a “limited” period.

Then the stock market reacted negatively later in the day to a report that it would not be.

This morning, Reuters posted another story complete with Q&A about another proposal being floated through the Senate by Senate Majority Leader Harry Reid, a Nevada Democrat, and Senate Finance Committee Chairman Max Baucus, a Montana Democrat. In their scenario, the credit would be extended to the end of 2010, but would be phased out in $2,000 decreases beginning in April, then again in July and in October.

Now, at the moment, I kinda like this proposal. And I like the idea that it carries into the Spring, where house purchases and sales tend to begin rallying all by themselves.

bd06916_My only issue with their proposal is that it’s being attached to the passage of another bill for unemployment insurance benefits. Sigh. Seems like it’d be so much easier to keep track of things if each expenditure had to stand on its own.

I’m sure tomorrow there’ll be yet more ups and downs about whether the $8,000 tax credit will be extended, or buried. Passage will be cause for celebration, in my opinion. Of course, then the bill will need to go on to the House, where, no doubt, it’ll be changed yet again. Back and forth.

Just my 2¢ worth!

 

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