Complete & move in ready in Cherry Meadows. Come see all of the upgrades, w/ top of the line cherry cabinets, beautiful granite counters throughout, stainless steel appliance package, upgraded premium millwork pkg, & gas fireplace in a quiet community on the edge of town. Featuring 4 beds, 2.5 baths and lrg fenced back yard, you can entertain in the lrg vaulted formal living room, or relax in front of the fireplace in the family room. 20 mins to anywhere on JBLM, easy access to the Yelm by-pass.  Please visit FortLewisAgent.com for more information.  MLS # 310661 Phil Sharp Homes

If you know what to expect when buying a foreclosure, the process is very similar to a traditional home purchase...with a few twists.

Keep in mind that you are dealing with a banking institution, or a trustee working for the banking institution.  These people have very specific rule books that they follow, and the rule books don't necessarily make sense, at least on the surface....

• Expect delays...if the rule book gives the banker two business days, most will take two business days.  If they take longer...well, they make the rules.
• Don't expect compassion...the bank is only looking at the bottom line.  They don't care if your appraiser has a problem with the roof, if your offer is all cash, or even if you send them pictures of how ugly the house is.
• The rules normally require that the home be marketed to the general public, as is, and that the highest and best offer for the bank be accepted.  The banker probably cannot re-negotiate the price after your inspection...even if it makes sense.  HUD, for example, just puts the property back on the market rather than negotiating anything.  

Pricing Foreclosures...the term foreclosure brings to mind infomercials about buying homes for pennies on the dollar.  There is a reason that the infomercial people are selling books, rather than out shopping for real estate.  Rule #1, if it sounds to good to be true, it probably is (or it's a short sale).    Read More at the Lewis-McChord Real Estate Guide>

Phil Sharp, recently retired from Fort Lewis as the Garrison First Sergeant, has left Abbey Real Estate to open his own brokerage, Phil Sharp Homes LLC. 

Phil has been a licensed Realtor since 2001, with his primary business focus on fulfilling the off post housing needs of service members assigned to Joint Base Lewis-McChord.  Phil has a reputation for putting soldiers first, and for operating his business based on lessons learned as a soldier for over 24 years, and as a realtor for 10.

Phil Sharp Homes Business model takes into account that service members have unique needs, and don't have the luxury of spending weeks/months finding and purchasing a new home.  The organization of the business allows Phil to focus on house hunting, negotiations and inspections....with an office staff of three, who perform all of the administrative functions, allowing Phil to focus on what's important.

To learn more about Phil Sharp Homes LLC, and about how we operate, please visit Phil Sharp Homes.com. 

Phil Sharp....Agent and Broker; Plan on Phil spending 3-5 days of un-interrupted house hunting with you upon your arrival.  Phil's secondary focus is on home buyer education.  You will find everything you need to get started on our primary website, to include a complete description of the home buying process from start to finish.  Get educated now...click here to visit Phil Sharp Homes. 

Stephanie Wagner...Stephanie's job is to manually search for listings that fit your needs/appeal to you.  You can expect to work with Stephanie (and Phil) for several months prior to your house hunting trip putting together a plan and listings to look at upon your arrival.

Gina McKune....Gina is our Relocation Sponsor, Gina's job is to provide information about the JBLM area, help you research schools, neighborhoods and communities.  She also sends out relocation packets, visitor guides, and is a great recourse if you have family members with special needs (EFMP, Students, Employment info).

Kelly Kelly...Yes, thats her real name;  Kelly is our Marketing Specialist.  Her primary focus is managing our numerous web sites and other online presence.  In working with customers, Kelly's main focus is home sellers.  Kelly will ensure that your home has the widest possible exposure to both the service members of JBLM, as well as exposure to the local communities.

We appreciate the opportunity to serve the men and women of the local armed forces community, we have created our business with you in mind, and we are known for being very good at what we do.   If your mission is to find housing, and be moved-in in a timely manner, Phil has the plan to get it done.

If you have been in the market for a new home, you are probably finding that a large percentage of homes available are listed as "Pre-Sales".  A pre-sale may  be a home that hasn't even had a building permit issued, or it may already be in construction.  While home pre-sales are very common in the real estate industry, it is critical that you have an understanding of the process that the builder goes thru, the time line to complete the home, and the considerations that must be taken about your appraisal, closing and possession.

Prior to building any home, the builder must demonstrate to the permitting jurisdiction that the lot will support the home.  There must be water, sewage (or an approved septic plan), and no restrictions for ecology or zoning reasons.  Most residential builders have completed this process prior to putting the pre-sale on the market.  If you are not on a city lot, or are in some other unique situation, the process will take a minimum of 30 days, and can take up to a year.

Assuming that the builder has a buildable lot, the next piece is the building plans themselves.  Again, many volume builders have "pre-approved" plans, which can be permitted over the counter.  However, if you are building a custom home, or making major modifications to a builders plans, the permits can take days to weeks.

The building process takes 75 to 150 days for most standard homes.  Visit the Lewis-McChord Real Estate Guide to read more..

In our last newsletter I discussed the current bank owned property inventory, and aggressive pricing by the banks.  The aggressive pricing seems to have had the desired effect.   A large part of the foreclosure inventory that piled up in November and December is sold, and default (pre-foreclosure) numbers in the JBLM Region have declined, especially in Thurston County (Info from Realty Trac) .  If you have been actively watching foreclosure listings, you have probably noticed that many (attractive and/or well priced) homes are no longer showing up in your search.  Of course the overpriced/junk is still out there!  

There will of course be many, many more foreclosures over the next couple of years, but at least the tide seems to have turned.

I have been making noises about housing shortages for the past 6 months or so, and the inventory is starting to show signs of shortage primarily in finished new construction.  Several years ago, banks were allowing builders to pile up inventory...no longer.  Read more at the Lewis-McChord Real Estate Guide