Joddie Roberts -Your Spokane Realtor ~ Tomlinson South Real Estate ~ Relevant Spokane Real Estate Blog

Spokane Real Estate Market Trends ~ April 2009

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Wed, 13 May 2009 14:25:32 -0500

Ninja MT APR 2009 Added Xls Graphs

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May 16th ~ Annual Armed Forces Torchlight Parade!

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Wed, 13 May 2009 14:13:03 -0500

It's coming up quickly ~ Spokane Lilac Festival's 71^st Annual Armed Forces Torchlight Parade. It begins at 7:45 p.m. but as you well know, the sidelines begin filling up much earlier in the day. It's never a surprise to see lawn chairs and blankets sprawled out on the sidewalks beginning in the early morning hours in anticipation of getting the best viewing spot!

While your downtown check out the Cruisin' The Falls Car Show on Spokane Falls Blvd. It takes place from 11 a.m. - 6 p.m. Saturday, culminating in a parade of those cars along the parade route.

You can enjoy great music, food and other entertainment in Riverfront Park throughout the day!

Go to Spokane Lilac Festival for additional information and have a great weekend!

Sellers, it's a Price War and a Beauty Contest, Are You Prepared to Win?

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Thu, 16 Apr 2009 00:49:12 -0500

As a Realtor I hear the same 2 questions over and over from home sellers, "What is my home worth?" and "What do I need to do to get my house ready to sell?" Obviously valid questions, especially in the face of a declining market, unfortunately sometimes sellers just don't hear the answers. Or maybe they don't really understand the answers...

In a housing market like we're in today buyers get to be very choosy. The criteria of location is less a factor for many buyers because they are out to get the best looking house for the absolute lowest price. When you add the high inventory of houses on the market there certainly is no rush to buy...unless of course, you, Seller, give them a reason. The power to sell isn't in anybody's hands but your own.

If you truly want to sell your home there are only 2 things you need to do; price it right and polish it up! By pricing it right I mean price it to sell. How do you know what that price is? Your Realtor should be helping you with that by showing you competing homes on the market. Your Realtor should also show you homes that have sold recently as well as homes that didn't sell because they were over-priced. An over-priced home will not sell regardless of how long it sits on the market! How do you know if your home is over-priced? Simple; it hasn't sold.

When I say "polish it up" think of it this way; your home is about to go on a blind date with a prospective buyer, what kind of impression do you want it to give? Will your home be in the kind of condition that a prospective buyer will immediately be drawn to? Or will the prospective buyer think to themselves, "It sure could use a bath and a little make-up?" Buyers are not desperate in this market and they will keep looking until they've found "the one."

By polishing your home I don't mean you have to go out and spend thousands of dollars on a face-lift or a tummy tuck! The best thing to do is ask your Realtor what you should do to improve the condition of your home. In many cases there are very simple and cost-effective remedies that can bring the sparkle and shine your home needs for that new buyer!

If you're not currently working with a Realtor and you'd like some more information on preparing your home to sell and pricing it right I'm more than happy to help. Choose your method of contact; call, e-mail or text and I'll get back with you immediately!

Spokane Real Estate Market Trends ~ March 2009

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Fri, 10 Apr 2009 10:35:20 -0500

March Sales are UP! Average Sales Price is UP! Average Median Sales Price is UP! The Odds of Selling Your Home are UP!

Ninja MT MAR 2009 Added Xls Graphs

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Spokane Real Estate Market Trends ~ February 2009

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 17 Mar 2009 23:07:31 -0500

Joddie FEB 2009 Added Xls Graphs

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17,000 square foot.....uh hum...cave for sale

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sun, 01 Mar 2009 01:35:48 -0600

Home sellers and cave dwellers alike are finding this to be a tough market. Buyers seem to be few and far between but buyers of unique properties are even harder to find, especially if you're trying to sell a cave-home.

If you think I'm batty, check this out...

First-Time Homebuyer Tax Credit Revised

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Thu, 26 Feb 2009 22:38:51 -0600

Below is a current chart showing the differences in the tax credit offered to first-time homebuyers in 2008 and the new credit now being offered through December 1 of this year.

If you're considering a home purchase and you're a first-time buyer (have not owned a principal residence for the previous 3 years) this is a great opportunity for YOU! There are some significant changes that benefit you as a 2009 First-time Homebuyer! Just take a look at the chart and see...

FEATURE	CREDIT AS CREATED JULY 2008 APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008	REVISED CREDIT - EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009
Amount of Credit	Lesser of 10 percent of cost of home or $7500	*Maximum credit amount increased to $8000*
Eligible Property	Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence.	No change All principal residences eligible.
Refundable	Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser.	No change Purchasers will continue to receive refund for unused amount when tax return is filed.
Income Limit	Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000).	No change Same income limits continue to apply.
First-time Homebuyer Only	Yes. Purchaser (and purchaser's spouse) may not have owned a principal residence in 3 years previous to purchase.	No change Still available for first-time purchasers only. Three-year rule continues to apply.
Revenue Bond Financing	No credit allowed if home financed with state/local bond funding.	*Purchasers who utilize revenue bond financing can use credit.*
Repayment	Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing.	*No repayment for purchases on or after January 1, 2009 and before December 1, 2009*
Recapture	If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale.	*If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.*
Termination	July 1, 2009 (But note program changes for 2009)	*December 1, 2009*
Effective Date	Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year.	*All revisions are effective as of January 1, 2009*

I'm happy to help you in any way I can with a home purchase, whether you're a first-time buyer or not. Interest rates are still historically low and there are great deals on the market. This really is a great time to buy!

Joddie Roberts,
Your Spokane Realtor

509.844.7344
e-mail: joddie@tb.com

Spokane’s 31st Annual Home and Yard Show

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Thu, 26 Feb 2009 01:29:06 -0600

Looking for something to do this weekend? How ‘bout heading over to the Spokane Fair and Expo Center to view the latest in home improvement, decorating, and landscaping ideas.... over 300 exhibits all in one place!

With Spring right around the corner it's the perfect time for fresh inspiration and renewed vision for all those projects on your "to-do" list. At the Home and Yard Show you'll find hundreds of home improvement products and services at your fingertips!

Don't pass up this great opportunity!

Admission $6 (good all weekend)
Kids 12 & Under ~ free
Thursday is 2 for 1 Day
Free Parking

Hours:

Thursday: Noon - 9pm
Friday: Noon - 9pm
Saturday: 10am - 8pm
Sunday: 10am - 5pm

Joddie Roberts,
Your Spokane Realtor

509.844.7344
e-mail: joddie@tb.com

Spring is Coming, is Your House Ready for the Market?

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Mon, 23 Feb 2009 00:59:03 -0600

Many homeowners decide in the Fall to update and make repairs on their home through the Winter in order to put their home on the market in the Spring. It's a great plan, however very few actually follow through on the plan and then it's crunch time! If you're one of those homeowners you might be feeling the crunch right now.

The first day of spring is a few short weeks away, March 20th, and the question remains, is your house ready for the market? Is it too late for repairs, paint and updates? In most cases the answer is no; you still have time for the fresh wave of home seekers looking for a house just like yours.

When getting your house ready to sell it's important to keep this in mind; Buyers want the best house, in the best location for the best price. You can't change the location of your house but you certainly can determine if yours is in the best condition, which will determine the best price you can set!

What do Buyers want and what can you do?

Buyers want clean so you need to clean, and then clean some more.
If you don't have time for that garage sale in order to de-clutter box up your items and have it AFTER you sell.
De-clutter anyway...pack away (and store neatly) items you don't need, including extra furniture.
Fresh paint is easy and a must. It's actually okay to use colors other than neutral as long as they aren't too bold. This is especially true in rooms such as kitchen & bathrooms as long as the paint colors match the decor of the rooms.
New hardware on cabinets, new switchplates and tightening screws on door handles, etc. help to give a clean, crisp look to any room.
Keep walkways and driveways swept and clear of debris.
You might not be able to update appliances but consider updating draperies and towels; those along with fresh paint can bring a more contemporary look.
You may have "necessary" repairs; water leaks, cracked windows, holes in the wall; get those things taken care of right away!

If you're uncertain on what you should or shouldn't do ask your Realtor. They can give you tips and let you know what Buyer expectations are. If you don't have a Realtor I invite you to give me a call or send an e-mail with your questions and I'd be glad to help you out.

Joddie Roberts,
Your Spokane Realtor

509.844.7344
e-mail: joddie@tb.com

Mead School District ~ Maintenance and Operation Levy

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sun, 22 Feb 2009 23:22:42 -0600

Ballots have been mailed to households in the Mead School District asking
voters to approve a 3-year Maintenance and Operations Levy.
In the tough economic times we are facing many may consider voting "no" simply because they don't realize this is a replacement levy not a new tax. What that means is you won't be paying any more in your taxes to continue quality educational programs and extracurricular activities for Mead students than you currently are. In fact, the estimated tax rate is actually less than what voters approved in 2006.

Some of the 2009 Maintenance and Operations Levy support under consideration includes:

Provide smaller class sizes
Expand student transportation
On-going maintenance
Over 1600 Extra-Curricular Activites
Expand college readiness programs

More information on the levy can be found here.

Joddie Roberts,
Your Spokane Realtor
509.844.7344
e-mail: joddie@tb.com

WinCo Foods ~ What's Your Vote?

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sun, 22 Feb 2009 22:06:31 -0600

What's Your Vote?

In three short weeks the new Spokane WinCo Foods has created quite a stir, or should I say crowd? On opening day I heard rumor of standing in line for an ungodly amount of time just to check-out so I nixed my plans of investigating this new store. However, curiosity got the best of me and I decided to do a "drive-by"; if the parking lot didn't look too crowded I'd give it a try, if it looked like I'd get stressed out just driving into the parking lot I'd wait for another day.

As I approached the store I don't know why I was shocked to see lines of cars everywhere but I was! Cars couldn't get into the parking lot because of the number of cars that were trying to get out of the parking lot...it was crazy and I kept on driving!

Try, try again? Third time's a charm? No....just couldn't get past the curiosity and the coupons burning a hole in my hands! I finally braved the parking lot at 9:00 at night. A son in one hand (to help bag groceries) and coupons in the other and off we went! After tracking down an empty shopping cart we finally made it into the store and, oh my gosh, it took everything in me to stay; it was bumper to bumper carts and people! Had it not been for the Fritos that were 98 cents each, bananas that were 18 cents/lb and all the other low prices screaming out at me I would have turned and run, never to return.

We weaved our way around the parameter of the store, grabbing items here and there. It wasn't until we got to the rear of the store that I realized the check-out lines went from the check stands themselves clear to where I was standing. Ugh! What a bright idea this was! It took more than an hour for us to get up to the check-out stand and when we got near the front there was actually someone directing the "traffic", informing each of us what line to go to.

The actual check-out process (paying for and bagging groceries) was a little lengthy but not too terrible. The slowest part of it was waiting for the people in front of us to get their groceries bagged and into their carts. We finally were able to get out of the store a little after 10:30 and chuckled when someone followed us to our car just to get our cart! The overall experience wasn't bad and it was nice walking away with a lot of groceries for a small price tag.

I've returned a couple times since and although I haven't seen the long lines of people waiting to check out it still has been extremely crowded inside. And I have yet to get a shopping cart from inside the store...on each trip to the store I've had to go back out to the parking lot and search for an empty cart.

The grand opening of WinCo has given me the opportunity to take advantage of some pretty incredible prices, which is the only reason I went back. I do wonder what it will be like when the honeymoon and infatuation with WinCo is over. Will it be worth the drive, fighting the crowds? Will there be enough of a discount to keep me coming back? To be honest, I don't know. I'm sure there will continue to be some great deals but I can't say I'm sold on the store.

That's my experience with WinCo, what's yours? Do they have your vote?

Joddie Roberts,
Your Spokane Realtor

509.844.7344
e-mail: joddie@tb.com

504 E. Dave Ct, Spokane, WA 99207

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 17 Feb 2009 21:31:06 -0600

Great Starter Home!

2 bedroom ~ 1 bath ~ Built 1949 ~ 672 Assessed Sq. Ft. ~ Only $114,000

Perfect for first-time buyer! Full, partial finished basement with laundry, family room and 3rd possible non-egress bedroom. Home sits on fenced, corner lot with single car garage, detached. Convenient to shopping, schools & bus!

More information HERE

Down Payment Assistance Loans ~ Spokane Neighborhood Action Programs

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 18 Nov 2008 00:38:43 -0600

Down payment assistance funds may be available for first time home-buyers in Spokane, WA. These funds are offered by the Spokane Neighborhood Action Programs, also known as SNAP.

Features of the Down Payment Assistance Loan includes:

Loan payments are deferred for 30 years or until sale,, transfer, refinance or change of use
Some loans are forgiven and become grants over time
Borrower's investment - 3% of purchase price
Must be single-family, owner occupied
Income eligible

Funding is limited and other restrictions may apply. Home buyer education classes are required as well.

It isn't a program for everyone but there are certainly those that can benefit from it. For more information visit the SNAP website or call to schedule an appointment...
509-456-7106.

You Know We're in a Recession When the Price of Top Ramen Goes Up!

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Thu, 01 May 2008 17:05:15 -0500

It just doesn't quit....gas prices are unbelievable and every time I go to the store food prices are up. In fact, without fail, what I buy today was cheaper yesterday.

It isn't just the "extras" increasing in price, it's the staples....bread, rice, flour, eggs....for a family the size of mine I have to take every price increase and multiply it by 10 to get the full effect of rising food prices. Complaining doesn't change the reality so I try not to do that tooooooo much....

While at the store the other day I decided to pick up the cheap, easy "filler" for my kids; Top Ramen....what family can pass up a truckload of a food kids love to eat and yet costs practically pennies? Not known for its nutritional value, I buy it because I have 8 kids that absolutely love it; anytime, anyplace...cooked & uncooked.

As I reached for the multiple packages I was going to buy, the price caught my eye.... "No, I thought, not Top Ramen too"; after all, I was depending on using it to feed my college-bound son for the next 4 years. Both discouraged and depressed I put the Top Ramen back on the shelf, returned my cart, and left the store empty-handed.

Nope, it isn't the unnecessary things anymore, price increases have hit the necessities too...from food, to gas, to everyday living, I think we're all asking the same question, "When is it going to end?"

Can I Share This Here ~ An Inside Look at Innocence

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 29 Apr 2008 16:33:35 -0500

I'm sorry, I just can't quit chuckling over something that happened the other day. Since I'm getting a good laugh out of it I thought I'd let others as well....

As a parent of a teenager (well, several teenagers) I worry sometimes about all the stuff they get exposed to. I'm not naive enough to think they're completely oblivious with all that t.v. & movies have to offer. Not to mention what they might hear at school or with their peers. It truly does concern me.

My fears were a little relieved the other day when I was out shopping with my oldest son, who is soon to be 18. We popped into the local "Dollar Store" to browse and noticed they had a product similar to "Icy Hot." Having several kids in sports always complaining about aches and pains I decided to take a closer look.

My son, always so helpful and realizing we've come across a bargain wanted to make sure we took advantage of this great find. Diligently scanning all the items he says to me, "Look mom, they have some in a tube"....I nearly bit through the inside of my cheeks as he had absolutely no idea that what he directed me to was "warming jelly." I didn't really find it the appropriate time nor place to educate him in the difference between the two! I was, however, absolutely delighted at his ignorance!

It was a rare moment of almost adulthood wrapped up in the innocence of childhood.

Nesting or Spring Fever?

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sat, 05 Apr 2008 10:38:06 -0500

I know I'm not "nesting" so it must be Spring Fever cleaning!...that's what I kept thinking to myself while on my hands and knees, feverishly scrubbing the kitchen floor. And while I wasn't outwardly thanking God it wasn't nesting I was experiencing, there was an inner sigh of relief that the red punch I was washing off the white cupboards and trim was just the result of having 8 very busy, sometimes messy children.

The cleaning didn't stop at the floor; there were posts to wash, metal rails to scrape and those light switches ~ wow, how do they get so dirty? Did I forget to mention the red punch? I'm still wondering how it got on the dining room wall...nice bright streaks running straight to the light tan carpet.

In my quest for clean the greatest discovery I made was those things called bedrooms! Yes, islands unto themselves ~ complete with natives, dirt, and somewhat short (although consistent) supply of food ~ or at least remnants thereof! Yes, there is a short-lived feeling of being the mighty conqueror over these unchartered lands, however, I conceded long ago that any attempt to civilize and bring order to these parts of my home is a bit futile.

Spring Cleaning in full forceat the Roberts house isn't always fun, but it is rewarding! With spring and summer ahead, most of us face an unending schedule of sports, fishing, swimming, weekend trips to the lake, vacationing, barbecuing and the like. On top of all that we have to add the jobs we go to everyday, which makes for a very busy time. It can get stressful and perhaps a bit overwhelming to head into a busy season if we can't stop for a moment and take some time to clean, de-clutter and organize. A couple spring cleaning weekends will allow for a long, enjoyable summer. After-all, nobody wants to wake up early on a Saturday morning, ready for a great day of fishing, just to realize the fishing poles are nowhere to be found!

For many, spring cleaning just "hits"; you wake up one morning and everyone around you better watch out ~ the "clean tornado" is coming. Okay, maybe I'm only describing myself but...maybe not. Unique individuals, yes, unique to being human, not so much.

If you are a bit like me; eager to get it all done NOW, perhaps the following tips will help...

For the tornado in us, here are a few things to keep in mind:

Issuing a storm warning may be helpful. It tends to prepare all parties and perhaps minimize the overall affect of the storm!
Tackle the biggest things first. Human nature is inclined to let the mountain be, all the while feeling overwhelmed by the mountain. Remember, one step at a time equals progress!
Breakdown the "to-dos" into manageable tasks. The garage may not get cleaned in one day, and that's okay, as long as you actually finish the job.
Follow through...the "dump pile" needs to be taken to the dump, the "Goodwill pile" needs to be taken to Goodwill. It doesn't do any good to move something from one place to another if all you're doing is creating another task.
If the dresser you're going to finish someday is still sitting there waiting to be re-finished, let someone else do it. Chances are if you haven't done it yet, you won't. There will be an endless supply of dressers that can be refinished when you actually have the time to do so.
Finally, at the end of the day, don't forget the reward. It may be dinner out, a movie with the family, or just relaxing on your deck, satisfied with the days' accomplishments....just don't bring out the red punch!

Buying A Home ~ What is Title Insurance? by Your Spokane Realtor

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Wed, 12 Dec 2007 20:35:31 -0600

Title Insurance

"Title" is the right to own, possess, use, control, and dispose of property. When you buy a home, you are actually buying the seller's title to the home. A deed is the written legal evidence that the seller has conveyed his or her ownership rights to you. Prior to "closing" on a property, when the actual transfer of ownership occurs, an attorney or title specialist will conduct a title examination. The purpose of the title examination is to discover any problems that might prevent you from getting clear title to the home. Title problems can usually be cleared up however, in some cases, severe title problems can delay settlement, or even cause you to consider voiding your contract with the seller.

What are some common title problems?

Title problems, or "clouds" happen for various reasons. Here are a few examples of situations that can create a title problem:

The home to be purchased was owned by the seller's parents, who intended to use it for their retirement. The seller's father died several years ago, and the mother just recently passed away. A title search reveals that the property is titled in the mother's name, but there is no will on file to indicate how she disposed of it.
You are buying a house to which an inground pool was added several years ago. The sellers of the home took out a home equity loan to pay for the pool. They have repaid the loan, but the lien was never removed from the title.
The seller of the house added central air conditioning several years ago. The seller and the contractor had a dispute over the workmanship, and the seller withheld the final payment on the contract. The contractor filed a mechanic's lien on the property, which has never been removed.
You are buying a house with a newly paved driveway. The seller of the house bought his neighbor's share of their shared driveway and converted it into a private driveway when the neighbor built a new driveway on the other side of his house. Unfortunately, ownership of the expanded driveway doesn't appear in the public records.

Some "clouds on title" can be corrected relatively easily, like most of the examples listed above, while others can become quite complicated to remove. Your Realtor and Title company will work together to keep you informed during the process of eliminating any defects in the title. If there is anything you don't understand, please be sure to ask questions.

What is Title Insurance?

Title insurance is the best way to protect yourself against title defects that have occurred in the past, which may not appear until after you've taken ownership of a property. Before a Title Insurance policy is issued, a title report is prepared based on a search of the public records. This report gives a description of the property, along with any title defects, liens, or encumbrances discovered in the course of the title search.

Title insurance protects you against title defects that were not discovered in the course of the title search. Most Title Insurance companies offer different levels of coverage. A basic policy covers such risks as:

Forgery and impersonation;
Lack of competency, capacity or legal authority of a party;
Deed not joined in by a necessary party (co-owner, heir, spouse, corporate officer, or business partner);
Undisclosed (but recorded) prior mortgage or lien;
Undisclosed (but recorded) easement or use restriction;
Erroneous or inadequate legal descriptions;
Lack of a right of access; and
Deed not properly recorded.

If such a defect were discovered later, your title insurance would cover you. When Title Insurance is ordered it is important to ask what is covered under the policy you choose. It is also important to ask questions for anything that you don't understand.

Title Insurance is different than other types of insurance policies (auto, life, health) in that you pay a one-time fee and it protects against past events versus future events.

How does title insurance protect you?

If title problems are severe enough and not covered by insurance, you could actually lose your house. A title insurance policy protects you and your heirs against title defects for as long as you own the property. The policy represents the title insurance company's responsibility to compensate you for any covered loss caused by a defect in the title, or any lien or encumbrance that was not discovered in the title search. Most title insurance policies do have exceptions, however, so it is important to read and understand the policy. Be sure to call the title company if you have any questions about what is covered in your particular policy.

Joddie Roberts,
Your Spokane Realtor
Exit Real Estate North
8524 N. Wall
Spokane, WA 99208

509.844.7344
www.spokaneagent.net

...serving REAL needs with REAL knowledge...

Buying Your Dream Home ~ Negotiating the Contract......by Your Spokane Realtor

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Wed, 05 Dec 2007 23:23:21 -0600

You finally found it, the home of your dreams...or perhaps the first home to the home of your dreams...Nevertheless, you found a place to call home so let's talk about what the next step is before you can call it your own.

Negotiate a contract. The next step is to write up an offer, also known as a contract. Your Realtor should go over every detail with you but be sure to review it carefully so that it states your terms exactly; how much you want to offer, and any applicable contingencies such as the ability to obtain financing, and satisfaction of a Home Inspection. If you have any questions about the contract please, please, please ask!

Sometimes an offer is accepted just as received. Sometimes the offer is rejected. However, in many cases there will be a counter offer from the seller and negotiation will take place so that both parties are satisfied with the terms. Typical counter offers include modifications of the purchase price, closing date, possession date, and/or inclusions, although any term(s) of the contract can be countered.

Generally, you are in a stronger bargaining position if you have already been pre-approved for a mortgage, are not selling a house at the same time, and have not loaded your offer with contingencies. Your offer needs to be accompanied by earnest money which often is necessary for the contract to be legally binding. It also shows your sincerity in wanting to purchase the seller's home.

The amount of the earnest money is something you should discuss with your Realtor. At times the seller may request a larger earnest money deposit than you initially provide. There is no risk of losing your earnest money provided you do not default on the terms of the contract. The earnest money will be credited to you at closing or returned to you if the contract is terminated according with its terms.

You will also need to provide a letter from your lender indicating your qualification to purchase the home.

Once you and the seller reach an agreement and sign an offer reflecting that agreement, you have a legally binding contract. At this point there are additional steps necessary to ensure a smooth and successful closing; order Title Insurance, hire a Professional Home Inspector, and order an Appraisal. Your Realtor and Lender will work together to make sure Title Insurance and an Appraisal are ordered. If you need help finding a Home Inspector your Realtor can provide you with the names and numbers of qualified professionals.

Stay tuned for more information on what happens once you have a negotiated Purchase and Sale Agreement on the home of your dreams!

Joddie Roberts,
Your Spokane Realtor
Exit Real Estate North
8524 N. Wall
Spokane, WA 99208

509.844.7344
www.spokaneagent.net

...serving REAL needs with REAL knowledge...

Buying a Home~A Lender's Checklist ~ Provided to you by Your Spokane Realtor

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sun, 25 Nov 2007 22:42:28 -0600

You can get a head-start on the home-buying process by gathering the information a lender will require of you when you make application for a mortgage loan. While requirements may vary from lender to lender the following checklist may be useful to you as you compile this information.

W2 forms from previous 2 years
Pay stubs from the most recent month
Employment History (2 years)

Include name & address, dates of employment, income
Provide explanation for any gaps in employment

Social Security number (for all borrowers)
Bank statements for checking and savings accounts (3 months)

Include all accounts, account numbers, balances

Credit information

Provide the name, account number, balance & monthly payment amount for each open credit account

Tax Return

This is required in certain situations especially if you are self-employed or have rental properties

IRA/Retirement Plan

Approximate value and current statement

Stocks, bonds, investment accounts (if being used for your home purchase)

Name & address of broker
Statements for previous 3 months

Life Insurance Policy

Name of company, policy number, face amount, approximate cash value of each policy

Automobiles

Make, year & current market value

Additional Income

Documentation of income received if used to qualify for the mortgage

If you are:

Renting

Provide landlord's name, address, phone number
12 month rental payment history

Self-employed

Provide Profit and Loss Statement & Balance Sheet for previous 2 years

Divorced or separated

Provide a copy of divorce decree or maintenance agreement, along with any amendments and a 12-month payment history of alimony/child support payments, if payments are provided or received and are needed to qualify. Be sure to provide either check stubs or copies of both the front and back of the checks

A student

If you do not have two years of employment history due to attending school, then school transcripts or your diploma will be needed

The owner of rental properties

Provide federal tax returns (signed), along with a schedule of all real estate owned and the account number and address of the mortgage company that holds the properties.

In addition, if the real estate owned is:

Currently rented - Provide a copy of the current lease or rental agreement.
Listed for sale - Provide a copy of the listing agreement.
Sold, but not closed - Provide a copy of the sales contract and escrow number.
Sold, closed and proceeds will be used for down payment - Provide a copy of the HUD-1 Uniform Settlement Statement.

A copy of Purchase & Sale Agreement, signed by buyer and seller. This will be provided to them by your REALTOR.

For additional information; Helpful Tips for the Home Buyer, Buying a Home, First Things First, It's Still a Great Time to Buy and Sell Real Estate in Spokane.

Joddie Roberts,
Your Spokane Realtor
Exit Real Estate North
8524 N. Wall
Spokane, WA 99208

509.844.7344
http://www.spokaneagent.net/

...serving REAL needs with REAL knowledge...

Is This Where I Can Ask A Question About Localism?

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 20 Nov 2007 02:03:54 -0600

Sorry, can't find the "right" group to ask this question...

Is there criteria that determines how posts to Localism rank? I would expect it to be ranked chronologically and yet my current posts seem buried under some that are very old. And some of my posts I have a hard time finding altogether.

I'm just wondering how "user-friendly" this random post ranking is for consumers if they can't find up-to-date information. Can someone please help me understand this?

Buying a Home, First Things First ~ Your Spokane Realtor

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 20 Nov 2007 01:31:36 -0600

Finances First! The buying experience usually goes smoother if financing has been secured before you begin searching for your home. For most homebuyers owning your dream home hinges on your ability to get the financing you need, in the price range you can afford. The very first step is ensuring that you are in an optimum buying position.

Your Credit Report
An important factor in your ability to get a mortgage is your credit rating. The best interest rates, as well as the most flexible loan terms, are available to those with the strongest credit scores. Not only will your monthly mortgage payment depend on your interest rate, but the amount you qualify to borrow will be affected by it as well. A higher interest rate translates into a higher payment and may reduce the loan amount for which you can qualify.

Review your Credit Report, which can be obtained from the three main Credit Reporting Agencies, to look for accuracy and any discrepancies. By doing so you may just avoid any unnecessary delays in your purchasing process.

You can request a free credit report from each agency, once per year. It may cost a nominal fee to request a Credit Score in addition to the credit report.

Contact a Lender
Once you have reviewed your Credit Report and are satisfied with the information on it you need to contact a lender. Getting a Pre-Approval letter from a lender not only gives you confidence but also gives you "buying power." A home seller will be much more comfortable accepting an offer knowing you have already gone through the necessary steps to purchase a home.

With Approval Letter in hand and completed checklist of must-haves contact Your Spokane Realtor for you are well on your way to happy house hunting!

Joddie Roberts,
Your Spokane Realtor
8524 N. Wall
Spokane, WA 99208

509.844.7344
http://www.spokaneagent.com/

...serving REAL needs with REAL knowledge

A Few Fun Facts About Home Prices in North Spokane

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Tue, 20 Nov 2007 00:50:10 -0600

There's just a few houses on the market today....so I did a little research and breakdown of the price range here in North Spokane. If you're looking for options, here they are:

Price Range: $0-100,000
Number to choose from: 55
Year Blt: Ranges from 1888-1956
Bedrooms: Ranges from 1-3
Baths: Ranges from 1-3
Price Range: $100,001-149,999
Number to choose from: 272
Year Blt: Ranges from 1886-2007
Bedrooms: Ranges from 1-5
Baths: Ranges from 2-9+ (something doesn't quite seem right about this one!)
Price Range: $150,000-200,000
Number to choose from: 224
Year Blt: Ranges from 1897-2007
Bedrooms: Ranges from 2-6
Baths: Ranges from 1-4
Price Range: $200,001-249,999
Number to choose from: 174
Year Blt: Ranges from 1890-2008 (reflects to-be-built)
Bedrooms: Ranges from 2-6
Baths: Ranges from 1-4
Price Range: $250,000-350,000
Number to choose from: 194
Year Blt: Ranges from 1906-2008 (reflects to-be-built)
Bedrooms: Ranges from 1-6
Baths: Ranges from 1-5
Price Range: $350,001-449,999
Number to choose from: 110
Year Blt: Ranges from 1890-2008 (reflects to-be-built)
Bedrooms: Ranges from 2-7
Baths: Ranges from 1-5
Price Range: $450,000-549,999
Number to choose from: 51
Year Blt: 1938-2008 (reflects to-be-built)
Bedrooms: Ranges from 2-6
Baths: Ranges from 2-5
Price Range: $550,000-999,999
Number to choose from: 63
Year Blt: 1900-2008 (reflects to-be-built)
Bedrooms: Ranges from 3-7
Baths: Ranges from 1-6
Price Range: $1,000,000+
Number to choose from: 5
Year Blt: Ranges from 1989-2002
Bedrooms: Ranges from 1-7
Baths: Ranges from 1-6

If you're looking for a home to buy I'd be glad to help. You have many choices, as reflected above, and I can narrow your search down with criteria that meets your specific needs. If you wish, I can set up automatic e-mail notification so that you are instantly notified when a new listing meeting your criteria hits the market!

Joddie Roberts,
Your Spokane Realtor
8524 N. Wall
Spokane, WA 99208

509.844.7344
www.spokaneagent.net

...serving REAL needs with REAL knowledge...

Helpful Tips for the Home Buyer ~ Spokane, WA Real Estate

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Mon, 19 Nov 2007 23:56:15 -0600

Options! Options! Options! So many to choose from, where does one start?

Well, of course, you start with need and move to desire. Afterall, what good does a 4bed/3ba 4-level home do when you need a 1-level? Or why look at a 3bed/1ba home when you really need more room than that? The best thing to do is start with a list of must-haves BEFORE you go house-hunting.

For most people, their list of non-negotiables tend to do with size of home, number of bedrooms and number of bathrooms. Beyond that there is often an "it'll do" mentality. Sometimes that is okay, but sometimes disappointment can set in with the realization of, "Oh, I didn't think about that".

Below is a little chart to get you started on the needs and the must-haves. Adapt it to make it your own and let each member of the household indicate which things are important to them. A completed list will save you time and help your REALTOR find the home of your dreams!

House Style
No. of Levels
No. of Bedrooms
No. of Bathrooms
Gourmet Kitchen
Formal Dining Room
Breakfast Nook
Super Master Bath
Walk In Closets
Fireplace
Basement
Garage
Porches
Fenced Yard
Large Yard
Swimming Pool
Storage Room
Storage Shed

Stay tuned for more helpful buying tips!

Joddie Roberts,
Your Spokane Realtor
Exit Real Estate North
8524 N. Wall
Spokane, WA 99208

509.844.7344
www.spokaneagent.net

...serving REAL needs with REAL knowledge

Just Wondering....A Question About Organizing the Sidebar

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sat, 17 Nov 2007 01:55:17 -0600

Is there any possible way to alphabetize the groups on our sidebar? It may seem like a silly question but....it's how I think, from A-Z. And it would be much easier to find the group I'm looking for if it was that way. So, I don't know what it would take to get the groups organized alphabetically but it's a great idea if you ask me!

Eleven Reasons You Should List Your Home During the Holidays

Joddie Roberts - Your Spokane Realtor - Spokane, WA (Tomlinson South Spokane) — Sat, 17 Nov 2007 01:33:13 -0600

It's amazing how quickly time goes by. Here we are gearing up for the Holiday Season and yet some of us are still trying to adjust to a new school year ~ even though it began a couple months ago.

With Thanksgiving a few days away we are quickly coming upon the "unofficial" kick-off to several weeks of celebration, gatherings, and gift giving that will take us into the New Year. It's hard to believe we're talking about 2008 and it isn't that far off!

During the Holiday Season many home sellers want to take their home off the market, and those contemplating selling want to wait until after the holidays before putting their home on the market.

Logical thinking says this is a good idea. Sellers assume, and maybe rightly so, that there are fewer buyers during this time of the year. Or they don't want the hassle of dirty snow being tracked onto their newly cleaned carpet. Families with children home for Winter Break sometimes find it difficult to have the house in "showing" condition all the time.

These are all good and logical reasons for not having your home on the market. However, there are some good and logical reasons to keep your home on the market:

People who look for homes during the holidays are more serious buyers
Serious buyers have fewer houses to choose from and less competition means more money for you
Since the supply of houses increases in January there will be less demand for your particular home. Less demand means less money for you
Houses show better when decorated for the holidays
Buyers are more emotional during the holidays so they are more likely to pay your price
Buyers have more time to look at homes during the holidays than regular weekdays
Some people must buy before the end of the year for tax purposes
January is traditionally a month for transferred employees to begin their new job. Since they can't wait until Spring to buy your home must be available to capture that market
You can still be on the market and restrict showings
You can sell now but delay closing or extend occupancy into the early part of next year
By selling now you can be a non-contingent buyer early in the year when there are more homes on the market, allowing you to sell high and buy low

If you're unsure whether or not this is right for you talk it over with your Realtor. His/Her expertise and knowledge of the market will help you to make a good decision for your situation.

If you can endure a little inconvenience during the Holidays keeping your home on the market might just provide you with the gift you've been waiting for!

For your Real Estate needs contact:

Joddie Roberts, REALTOR
Exit Real Estate North
Spokane, WA
509.844.7344

...serving REAL needs with REAL knowledge...