The Tahoma School District is gathering cell phones for soliders, continuing a drive which began at Tahoma Junior High. Used, old, and even broken cell phones and chargers acen be dropped of at any Tahoma School.
This is a great way to recycle unused phones and accessories. For more information about the nationally sponsored program, visit www.cellphonesforsoldiers.com . This is a great cause, and proceeds help soliders serving abroad by providing them calling cards and phones.
Yes, we've got some economic challenges in front of us. And they are changing everything, or so it seems. From the way we live, drive and even, the way be buy real estate. The rules of the game called, "Let's Buy A Home" have changed. The bigger question is, "Are You IN or OUT?"
I read somewhere in as little as 5 years from now, we will look back to this time and say "Wow, that was the best time for the first-time buyer (or in my opinion, ANY Buyer) to have bought a home." The housing market is not going to put up a big flashy neon sign, or have a newspaper headline!
Economics and statistics will tell us months after we've hit this "bottom" we are all looking for, and it will be well behind us. Take note, did the news, government, whomever just tell us we've been in a recession since LAST December, yet many are just now feeling the pain?
So, as in any game, do you know the rules? In the next few posts, let's talk about some of the "rules" of "Let's Buy a Home" so you, the buyer can be IN!
Let's break this into a few parts:
Part One: How to Choose Your Real Estate Agent
Part Two: Buyer's Brokerage (Agency) or "Who's Working for Who?"
Part Three: Buyer's Check List
Part Four: What to Ask When Buying a Home, and finally
Part Five: The Purchase and Sale Agreement (We'll just touch on parts of this lengthy agreement, but give you a better understanding of what it is.)
So....Let's Jump Right In........
How To Choose Your Real Estate Agent
Do you need a real estate agent? Well, you're asking the wrong person since I'm a Broker, of course I'll say YES! But a better example would be a phone conversation with your auto mechanic as he says "Ok, now remove the top left bolt from the exhaust manifold using a ratchet wrench #9c." Ahhh, would you not feel more comfortable about the safety and reliability of your car with him/her doing that instead of you?
The first key to selecting your agent is, do they know the area where you want to live? Or better yet, do they know an area you DON'T know about and never would have without their help? If you are looking for a high-rise condominium for example, and the agent is not familiar with the area, or even the building, you might miss out on features important to you, or buy a unit, not knowing what future construction may happen around you. An agent that knows the market (inventory) and is involved in the community will best help you make an informed decision. All agents are NOT created equal!
In our next post, we'll talk about the brokerage agreement and agency.
Next, spend some time with the agent. AND NO, I don't mean riding around in their car or walking the street to look at homes. Sit down in their office (it may or may not be of concern to you where their office is...) or maybe at a local coffee shop or restaurant in the area where you want to look. (2 Goals here....1) Get to know your agent and they you, and 2) you get to see the neighborhood "in action!"
This time should be spent learning more info about the agent. (NOTE: If the agent you have selected is on top of their game, you should already know MORE about them through their website, blog and other social media sites like Facebook,LinkedIN, Twitter, Delicious and others. If you're not familiar with these sites, be sure to check them out!) But more importantly, the agent should be getting to know.....YOU!! Learning more about what you want in your home and neighborhood, your lifestyle, family, job and more. While you might be hesitant to "open up" to this person, remember, the more they know about you, the better job they can do for you to win "Let's Buy A Home!"
But just in case you haven't learned everything about your agent from the sites above, here are a few other important questions to keep in mind:
How long have you been licensed? (Are they new to the game as well?)
What percentage of your business is working with buyers? (Many agents work with BOTH buyers and sellers...nothing wrong with that but you don't want a listing agent if you are buying)
How familiar are you with the area where I want to purchase (mentioned above)
Do you have references of other buyers you've worked with? (You may have found this info on their website, blog or other social media site)
Should I consider foreclosures or bank owned properties? What about a For Sale By Owner?
How will you communicate with me during the "game?"
Do you have other service providers (inspectors, mortgage, moving, etc) to help me?
How do you get paid? (Another point will cover later)
In my next post, we'll talk about Agency, what it means, and the Buyer's Brokerage Agreement (as used in Georiga). Important information for you to know how you can, or will be represented in your home purchase!
Front Porch with double-door entry and sidelights offer fantastic curb appeal with a great front yard! This 4 Bedroom Home on culdesac has an open interior. Formal Living room off of entryway includes dining space. The bright kitchen has stainless steel appliances - ALL stay! Open stairway with upstairs nook, extra bedrooms, and Master Bed and Bathroom with walk-in closet. Fenced backyard includes in-ground trampoline, large playset/climbing toy, and plenty of room for play and gardening.
Directions: From HWY 169 in Maple Valley, East on 240th Way SE at entrance to Valley Green. Turn Right at 232nd Place. Home near the end of the culdesac, on the right.
I have some thoughts on short sales... Are they slick and shady... or smart and savvy? I think in the end, it depends... the thing I can say with a good amount of certainty, is they are not going away in 2009...
Please note: I am not an attorney, and home sellers thinking about selling their home as a short sale should seek professional legal council.
Are agents that price short sales well below market value of other homes in the market slick? Many think so! Especially when that low price is not what is the actual selling price on the home.
It is important for a buyer to understand that making an offer to purchase a short sale is a whole different ballgame than navigating the regular market...and just because a home is listed at 20-50% or less than others does not necessarily mean that is the price they will get. However, short sales are unfortunately a necessary reality, and the strategy of pricing low is in one sense, no different than putting a product on ebay and letting bidders know that "the reserve is not yet met." In most cases, the Real Estate Agent may not know what price the bank will accept, and neither will the bank, until they look at the offers. An Agent with a short sale may want to back up their low price listing with proof, perhaps a CMA to show similar homes that needed severe price reductions in order to sell in a short amount of time, Short sales cannot be priced the same as homes that are taking 6 months to sell... because a short sale might have a deadline of only a few weeks before the home goes into foreclosure, so it's gotta move fast... get offers in, get lender approval, and then sold. A homeowner faced with a short sale and possibly being responsible for taxes OR foreclosure... may still choose to sell at a lower price...or not... accept the offer... and let it go into foreclosure. In the end, the general consensus is that a homeowners credit will be effected to a lesser degree by a short sale than a foreclosure, the bank has the mortgage loan satisfied in the end without a lengthy and expensive process, and a savvy buyer willing to throw her offer into the bidding has purchased a home. Once again, sellers of distressed homes should always seek legal advise from their attorney.
My opinion, my WISH... is that there would be a way to conduct short sales, foreclosures and REO's so that they do not impact the regular market. Take them OUT of the regular MLS. I am heartsick for sellers who have struggled to make payments and need to sell, and are up against a deluge of shortsales and foreclosures affecting their asking price. I have wondered if this ALSO contributes to the slow market, as buyers chase after short sales, do not get the purchase, and then continue to pursue other homes on the market. Buyers are told it is their market, but need to realize it is a complex one. It comes down to education in the end... about whether or not a short sale is a good opportunity and the possible risk involved. One thing I tell my buyers... NEVER fall in love with a short sale!
Best wishes in 2009... may we see less shorts and more homes sold with manageable financing so people can indeed live their dreams!
Presented by Julianna Hind, Keller Williams Realty (Selling Agent)
Just Sold in Maple Valley!
Welcome New Homeowners...Relocating from Utah Valley to Maple Valley, Washington!
Maple Valley, WA 98038
Almost 2300 sq. ft. 2 story with 4 bedroom and 2.5 baths. Living room and dining room with vaulted ceilings. Island kitchen with eating nook and hardwood floors. Family room with cozy gas fireplace. Master bedroom with 5 piece bath and walk in closet. Bonus room. 3 car garage.Air conditioning. Walk to golf course and 2 new shopping centers. Great Tahoma schools. Builder - Pacific Huts and Castles.
It's always great to welcome new folks into our community! These buyers came all the way from Provo,Utah... and Seattle Weather made a good effort at competing with Utah's "Best Snow on Earth!"
Where did the former owners go? UPSIZED to another beautiful new home in Maple Valley... because that is how great it is here!
Don't worry Utah, I also currently have a listing and the owners are looking to relocate in your great state... which I can say without reservation DOES in fact have the greatest snow on earth!
Maple Valley 5 Bedroom Home - Now accepting offers. Seller Review of offers on Tuesday, January 6, 2009. Please fax offers to Julianna Hind, Keller Williams Realty - Fax Number 206-774-0404. This is a short sale. Offers subject to bank approval.
Beautiful and Spacious Home on the end of a quiet dead end street. Wonderful entryway and living room/dining area. Wood floors through hall and kitchen. Eat in kitchen area and plenty of counter and storage. Family room has adjacent den for an office or play room. Master Bed and Bath suite features a luxurious fireplace Walk-in Closet and Sunken Tub. 5 total bedrooms upstairs. Lots of living space.
Directions: From Kent Kangley/Hwy516: Turn North onto 228TH AVE SE. Turn slight Right onto SE 269TH ST. Turn Right onto 229TH PL S. Turn Left onto SE 271st ST. House at the end of street on Left.
First time home buyers looking for a home in Maple Valley, Auburn, Kent or Covington, Washington may want to take note of what my friend Jeff has to say about financing that first home!
The government is handing out money as a long term loan. Take advantage of this!!!
The Housing and Economic Recovery Act of 2008 produced the tax credit for First Time Homebuyers. In this case, to be eligible for the tax credit, a first time homebuyer is defined as : someone who had not owned a home from July 2, 2005, through July 1, 2008. In order to become eligible, you have to buy your home after April 8, 2008, and before July 1, 2009. I will go over some of the other guidelines later.
When it comes to buying a home, you can't borrower money to use as a down payment or for closing costs. And you can get county or state assistance under certain programs or grants, to use for your new home purchase. But when it comes to FHA loans, you can actually get 100% gift monies from a relative. It's called a gift because HUD doesn't want the burden of you having to pay back a loan after buying back a loan. Hypothetically, it doesn't mean that you can't tell your parents or a relative that you will pay them back later. Hence why this tax credit is still a great way to help you get into a new home prior to July 1, 2009. And you can still get up to 6% seller help even if you were to get a 100% gift from a family member.
So, how does this tax credit work? Please read below for some details :
The maximum tax credit is $7,500 for either a single taxpayer or a married couple filing jointly. It is 10% of the purchase price. So in order to get the maximum credit, the purchase price must be $75,000 or more.
This credit is an interest free loan and the credit must be repaid over a 15 year period. This loan must be paid back by including one-fifteenth of the amount credited, or $500, as an additional tax on their 2010 return.
There are income restrictions which can range from $150,000 to $170,000 for a joint return or from $75,000 to $95,000 for a single return. There are other factors involved when determining the actual income restrictions.
This credit can't be used if you are buying a home from a close relative, which is to include a spouse, a grandparent, child, or even a grandchild.
You can only use this tax credit for your primary home, not for a second home or an investment property.
There are some other restrictions, examples, and explanations to how this tax credit can work. For more information, please read : Tax Credit for First Time Homebuyers
An example of how this tax credit could work :
If you were to receive a $2,000 refund when filing your return, and you were eligible for an additional $7,500 if you choose to receive this credit, this means that your refund will now be $9,500 instead. On the flip side of things, if you were to owe $2,000, you would actually get back $5,500 instead of owing money.
One thing to keep in mind.... you can use this money for anything. How could you use this money?
You could use it to repay other loans or debts.
To invest in the market or CD's.
To buy another property such as an investment property. But you would need to understand the seasoning requirements when putting this kind of money into your bank account.
Use the money to fix up your new home that you just bought.
To start a business.... to help a business grow.
And as mentioned, FHA loans allow for 100% gift monies from a relative. Maybe you could thank them later on and give them the money back down the road. I know I wouldn't want this hanging over my head. As of January 1st, 2009, when buying a home with a FHA mortgage, you now need 3 1/2 percent down of your own money (gift monies allowed).
Happy house hunting. For a creative way to help you finance your new home, please don't hesitate to contact me. There are so many options out there and you need a creative loan officer that knows more than just the basics.
Did you catch the Rose Parade? It has long been a tradition of mine to watch the parade every year. As a girl growing up in California, I loved touring the parade grounds and seeing the beautifully colored floats, with designs and creativity in abundance ... the fragance was glorious. I really loved the NAR's float this year (As Seen on TV) which featured the "Swiss Family Robinson's" quest for home ownership!
Home ownership brings pride, togetherness, and common goal. This is demonstrated in the original book, by Johann David Wyss, and by this fabulous float!
Congratulations to my fellow NAR members for creating such a beautiful celebration!
Julianna Hind, Real Estate and Design Professional
Maple Valley, WA: Lake Wilderness December 19, 2008...
Need some holiday cheer? The best place to be this Friday night in Maple Valley is touring the Lake Wilderness Neighborhood and treating yourself to the holiday lights. This is a benefit for the Maple Valley food bank, and everyone is encouraged to bring canned goods and even unwrapped gifts. there is nothing like the spirit of giving and holiday lights against a blanket of beautiful snow to get you feeling like Christmas is here!
Thanks for viewing and feel free to call if you have any questions. Julianna Hind, Realtor, 206-679-4768
Open House - For Sale in Kent WA 285K
Location: Glencarin
Sunday December 14th at 1 - 4 PM.... Public Open House....Home for Sale....Tudor style home with private backyard with lots of foliage and garden area. This home feels spacious with cathedral ceilings, exposed beams, and a brick fireplace with brickwork all the way to the vaulted ceiling. The dining room opens up to an outside deck area, overlooking the yard and greenbelt. Master Bedroom has a private 3/4 bath. Bright and Cozy downstairs family room has second fireplace. Extra big utility/laundry room. Fresh paint, new laminate, and updated lighting. Not to be missed!
Auburn, Kent, Maple Valley, Covington Real Estate and Design Professional
Maple Valley
,
WA More about me…
Julianna Hind, Keller Williams Realty Auburn
Office Phone:
(425) 277-5100
Cell Phone:
(206) 679-4768
Email Me
Julianna Hind is a Real Estate and Design Professional in King and Pierce County. She is a Realtor who also stages the homes she sells. Julianna is a member of the NAR (National Association of Realtors)IRIS (Interior Redesign Industry Specialists) and RESA (Real Estate Staging Association) 206-679-4768
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Auburn, Kent, Maple Valley, Covington Real Estate and Design Professional (Julianna Hind, Keller Williams Realty Auburn)
I read somewhere in as little as 5 years from now, we will look back to this time and say "Wow, that was the best time for the first-time buyer (or in my opinion, ANY Buyer) to have bought a home." The housing market is not going to put up a big flashy neon sign, or have a newspaper headline!
;)
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