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advice for buyers: So Is That House Available or Not??? - 03/24/12 07:09 AM
For buyers and their agents, the pursuit of bank owned homes offers quite a few possible pitfalls and frustrations - among them, the difficulty in deciphering if a house is truly available or not. Often the banks agree verbally to a buyer's offer, but the turnaround time on getting the bank addenda to the listing agent, to the selling agent, to the buyer and back again can take....a while.
So, I am really happy with a change our NWMLS has initiated where listing agents are to note in the agent remarks section of a listing when the bank has verbally accepted … (10 comments)
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advice for buyers: No WONDER We're Having Trouble Finding You a Home Mr & Mrs First Time Buyer - 02/22/12 01:30 PM
We are beginning to see a whole lot of multiple offer scenarios in the Olympia/Lacey/Tumwater area when working with buyers in the $175,000 and under price bracket. Since the media is still blasting the news that it's a buyer's market, this can come as quite a shock to a buyer when they repeatedly find themselves competing, and getting beat out on homes they would like to buy (even when making good solid offers, not low ball attempts).
So today I was playing around with a search to see if my hunch about our listing inventory was true - and oh yes, … (7 comments)
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advice for buyers: Lessons for a Buyer From Olympia's Snow & Ice Storm - 01/31/12 09:47 PM
Many of you know that the Olympia area is finally digging out from a major snowstorm, which was followed by an ice storm - and trees and branches down, power outages galore...Not exactly our usual weather pattern.
But a storm like this points out some great things for buyers to consider as they hunt for an Olympia area home:
Does the home have a heat source that does not depend on having electricity?? Woodstoves obviously can keep you warm when the power is out, but even a gas fireplace will operate and put out some heat, though the … (5 comments)
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advice for buyers: What KIND of a New Construction Home Do You Want To Buy in Olympia WA? - 11/17/11 01:58 PM
What kind of a new construction home do you want to buy in the Olympia WA area? When I am asking a buyer this question, I usually get that look that means "What kind of question is that!". But let me explain, because there are different types of new construction to consider.
In the Olympia, WA area real estate market, there may be new construction that is located in a brand new subdivision, typically (but not always) being built by one builder. There are usually several different floor plans being built, and usually one or more model homes … (4 comments)
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advice for buyers: Sometimes in Real Estate A Day Is NOT A Day - 11/07/11 05:33 PM
In a real estate sales transaction, there are usually a number of time sensitive things that happen, many with deadlines attached to them. Making sure that all the parties involved are counting days in the same way is really important, so that buyers and sellers are on the same page about when those various deadlines occur.
In the Olympia, WA real estate market, the NWMLS forms we use for a purchase and sales agreement have language that clearly spells out how to count out those time periods.
Basically, once the parties have reached mutual agreement, then the next … (8 comments)
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advice for buyers: So Many Ways To Search For Olympia Area Home Listings By Location - 09/18/11 07:37 PM
When buyers decide it is time to buy a home in the Olympia, WA area, often one of the first criteria they have in mind is the location they want for that home. And that is great because our MLS gives us quite a few different ways to search so that we can pinpoint homes for sale in the location(s) the buyer wants.
For example, the MLS is divided into numbered code areas and all listings have this geographic coding attached to them. Our codes within Thurston County look like this:
441 - The Steamboat Island peninsula and Summit Lake area … (2 comments)
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advice for buyers: Where Does YOUR Water Come From?? What You Need to Know if You Have A Well in Thurston County WA - 08/12/11 04:37 PM
Quite a few properties in Thurston County, WA get their household water from a well on their property. Or perhaps a shared or community well that has multiple hookups for other families. The city public water lines don't extend very far out into the rural part of the county, and even some of the fairly close in locations may have a well for their water.
So if you have never had your own well before, what do you need to know?? For starters, when you look for a house to buy and it has a well, your agent can include a … (3 comments)
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advice for buyers: Before We Go Looking - Let's Do Some Talking About Buying A House - 07/18/11 06:01 PM
Dear Buyers,
Before We Go Looking - Let's Do Some Talking About Buying A House.
Let's do a little bit of talking about the process, timeline, costs involved, your criteria etc etc etc. It will make the house hunting process go more smoothly for you and will minimize unhappy surprises. So - even though I know you are eager to go look at those houses you spotted on line....let's first take a short time to talk.
If you are a first time home buyer, you may have lots of questions about how this whole house buying thing works. Or you may … (4 comments)
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advice for buyers: Buyer Chat Part Four - How Long Will It Take Before I Can Move In? - 07/18/11 05:56 PM
You found a house, you made an offer, the seller accepted your offer!! Hurray - but now the hard part is waiting until the purchase is complete and you can move in to your new home in the Olympia WA area. And you want to know, need to know - WHEN can you move in!!!
The answer to that goes back to some of the steps we have already completed - your preapproval with your lender will likely also give us some parameters about any extra time that might be required to complete the process. If you are able to get … (0 comments)
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advice for buyers: Buyer Chat Part Three - What Costs Will There Be? - 07/18/11 05:55 PM
What Costs Will There Be when I buy this home in the Olympia WA area? Yes that is a really important question for buyers to ask and understand! Because, even though you are likely getting a loan for a large part of this purchase, there will be some costs to you along the way.
First, as you talk with your lender to get preapproved, you will receive an estimate of the amount you will need to bring in at closing of the sale. This will include both the down payment you plan to make and closing costs and prepaid expenses. The … (2 comments)
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advice for buyers: Buyer Chat Part Two - How Does This Process Work Anyway? - 07/18/11 05:55 PM
Buying a Home in the Olympia WA area?
How Does This Process Work Anyway? Well, we will start out with a chance to talk over your criteria for the home you are buying, including a lot of other important stuff - are you going to live in the house or is it an investment property? Are you renting now or do you need to sell another home before you can buy? Is our search going to include short sales, bank owned properties, for sale by owner homes? (we will chat a little about the opportunities and challenges with each of those … (0 comments)
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advice for buyers: Buyer Chat Part One - What Are Your Criteria For A Home To Buy? - 07/18/11 05:54 PM
What are your criteria for a home to buy in the Olympia WA area?? Let's talk about things that are absolutely crucial to you - and also those things that fall into the "it would be great if..." category.
Location is always key - do you have particular neighborhoods, school districts, commute distance to work as essentials for this house?
House essentials - how many bedrooms and baths are absolutely minimum? What is the largest or smallest home you would like? Do you prefer newer or older? Ready to move into or in need of updating or repairs? Do you like … (0 comments)
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advice for buyers: If You're Engaged To Be Married You Don't Sign Up For A Dating Service - Right? - 06/30/11 06:15 PM
If you're engaged to be married, you don't sign up for a dating service - do you?? Same thing goes for your commitment to a house to buy - once you have looked at enough homes to know what you want and need, what's available in your price range, and which one stands out as the best choice and value for you, the next step is to make an offer on it. And when that offer is accepted, you have made a promise to "marry" this house. Your agent will help you include contingencies to protect you if something goes seriously … (54 comments)
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advice for buyers: Upstairs, Downstairs - and All Around the House - 05/31/11 07:21 PM
Upstairs, Downstairs - and all around the house! What I am talking about is bedrooms, and where they are located within a home. Many buyers are hunting for homes with a particular layout of the bedrooms, so it is nice that our NW MLS system in the Olympia area allows agents to search for particular possibilities of bedroom locations.
The listing will show how many bedrooms are located on each floor in a multilevel home. So if you are looking for all bedrooms to be on the same level, you can find it. If, instead, your preference is for … (34 comments)
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advice for buyers: Nature or Neighbors?? What Do YOU Want to See Outside Your Windows? - 05/26/11 05:38 PM
Nature or neighbors? What do you want to see when you look out the windows at your house? There is no right answer here - but it is something to consider as you look for a home to buy. And usually people do have a preference - often a really strong preference!
If you fall into the "nature" camp, you may be looking for what I've heard referred to as "naked private"! And even if you don't think you would really want to run around your yard naked, this kind of property IS one where you could sit out … (2 comments)
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advice for buyers: "Which House Should I Buy?" Ummmm - I Can't Tell You - 03/26/11 10:28 PM
Sometimes buyers really want their real estate agent to help them make a decision about what house to buy. Yes, I know it can feel like such a huge overwhelming decision - and sometimes buyers think it would be easier if somebody just made that decision for them. But....
I can tell you if I think the house is priced appropriately compared to similar ones (and you've already seen how it stacks up with the competing available homes).
I can tell you if there is anything about it that might make it really, really hard to resell (and we can look at days on the … (7 comments)
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advice for buyers: Just Because It's Called"Dining Room" Doesn't Mean You Have To Eat There - 03/22/11 05:27 PM
When you look at a home for sale, do you see the rooms as they are currently being used and think that use is set in stone as the only option? Can you look at the rooms in the home and imagine how YOU would use them - even if it is nontraditional?
Most buyers have in mind whether they need a formal dining room, a family room, a guest room etc. But it is really important to think through how you live most of the time, and get creative if you need to. A dining room does NOT have to … (12 comments)
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advice for buyers: Forecast: Excitement with Occasional Terror - 02/19/11 04:13 PM
Forecast: Excitement with Occasional Terror - that is what I try to remember to share with first time home buyers. The excitement of searching for a home, then finding the right one, writing an offer - and best yet - getting that offer accepted! Wow - it all feels so good!
But....then somewhere along the way, it's almost a sure thing that you will wake up in the middle of the night in a panic. What have we done? Is this the right house? Should we even buy a house - it seems so risky! Are we paying too much? Will … (4 comments)
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advice for buyers: Days on the Market - Why Do They Matter?? - 02/07/11 09:57 PM
Most all MLS systems track days on the market- that is how many days a particular listing has been on the market currently, or until it became a pending sale in the case of listings that are no longer active. Our NWMLS in Washington state has a field called CDOM which stands for cumulative days on the market, and it captures total days a listing has been on the market, even if it has expired and been relisted with a different agent. The CDOM does not reset to zero unless the listing is off the market entirely for at least 90 days. Buyers … (10 comments)
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advice for buyers: More Questions Buyers Ask - So What is the Big Deal about Location? - 01/18/11 02:54 PM
If you have read anything much about real estate, you have probably run across the phrase "location, location, location". Buyers often ask why location is such a big deal when you are buying real estate, since it is easy to get more focused on whether you like the kitchen or master bath of a particular house, or the flower garden in the back yard.
But location IS a big deal to consider, both in choosing a home you will really enjoy living in, and because of the impact location has on appreciation and ease of resale (and yes, … (2 comments)
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Nancy Conner - Olympia/Thurston County WA
Olympia,
WA
More about me…
Managing Broker - City Realty Inc
Address: 1800 Cooper Pt Rd SW, Bldg #12, Olympia, WA, 98502
Office Phone: (360) 350-0251
Cell Phone: (360) 701-1086
Email Me
A blog about community events in the Olympia/Thurston County area including the real estate market in those communities.
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