It seems like a long time since I last posted and as once an avid blogger on ActiveRain it seems a part of me has slipped. One of those items is my overall rankings on the State page but ah well; I was never a super hero :)
Back in September I received my real estate license after working as a office manager for 3 years. It was a refreshing step and with the slow down in the real estate market it was only natural to expand and branch out within a industry I am currently working in. As a result of getting licensed, I have one listing close, helped 1 buyer close (she got a great deal) and now received my 2nd listing, a 3rd listings that I am a co agent on and three buyers scheduled to close in April and May. Wahoo! I am on fire. I have also taken to blogging almost exclusively on our companies blogsite and have put together some interesting posts (well I think so anyways). So here is a break down of everything that has been happening.
Short Sales, Distress Properties, Foreclosures and REOs
As the Snohomish County real estate market continues to correct itself, more and more homes will be sold as short sales, foreclosures and as bank owned properties. So what are the differences of these types of properties.
What is a Short Sale?
Lets look an example: Homeowner A has a $300,000 mortgage and is forced to sell the property as a way to avoid foreclosure. Faced with selling, A contacts his REALTOR® and schedules a listing appointment. Mr./Mrs. REALTOR® conducts a Comparative Market Analysis (CMA) and determines a list price. A agrees to list the property for $265,000. This is a short sale; when the property is selling for less than the homeowner's mortgaged amount, read more.
Median Home & Condo Prices in Snohomish County by Zip Code
Snohomish County has not been protected or isolated from the national housing crunch and real estate sellers are feeling the affect of bank owned properties on their property values more and more each day. As short sales, distressed properties and foreclosured properties start to saturate the Snohomish County real estate market homes prices will continue to adjust.
According to a NAR (National Association of REALTORS®) the national median home price has fell to $180,000, a 12% loss in 2008, though Snohomish County's median prices are still much higher. That does not mean that local real estate is still in the unaffordable range and good buys cannot be found throughout the county. Quite the opposite, read more.
Top 30 Lenders in Snohomish County for January 2009
To my surprise over $466 million dollars in loans where originated in Snohomish County for the first month of 2009. The total value of loans originated is no where near as high as the booming real estate times of the early millennium but since it is the first time seeing this particular report I have no data to compare it with. But I am sure the reduction in loans originated is significantly lower in early 2009 than it was in 2005 - 2007, read more.
Lawn Care Season is Rapidly Approaching
It is rapidly approaching that time of year again, at least on the calendar months that is, and lawns all over Washington are going to be going into bloom. If your lawn has been soaked by the winter snow and rain or it's just in need of some clean up work these ideas should help out.
Since the construction boom around Snohomish County many drainage problems have arisen despite efforts of retention ponds and other city collecting systems. Drainage problems are usually caused because of soil composition. In Snohomish County we have a rocky surface soil with a layer of hardpan underneath (typically clay). The hardpan layer is not very porous and water has a difficult time penetrating it like other soil so the water just collects above it, read more.
First Time Home Buyer Tax Credit
To help stimulate the economy and help recent home buyers, the government has instituted the first time home buyer tax credit under the Housing and Economic Recovery Act of 2008. The first time home buyer tax credit allows for recent home purchasers to claim a maximum tax credit in the form of a interest free loan and/or a permanent loan from the government, depending on when the home purchased.
The first home buyer tax credit applies to a home purchased between the dates of April 8, 2008 and December 31, 2008. If a home buyer purchased a home within that range they are eligible for a $7,500 maximum tax credit which can be claimed on a 2008 return. This allows for people to receive more money back on a return or have money applied to taxes owed. But this is not a free and clear plan to get $7,500 government dollars, read more.
The Residential Purchase & Sale Agreement
If you have purchased a home in the past then you are probably familiar with the residential purchase and sale agreement but if you haven't then the forms are going to be a new experience. In the state of Washington, real estate brokerage firms belong to a multiple listing service (MLS) which either provides state approved forms or a brokerage will elect to have their own company forms approved by the state. At Barnett Associates Real Estate, LLC, we use the Northwest Multiple Listings Service's state approved forms, read more.
Whew that took awhile just to put together. That list doesn't include the list of the properties that have either come on the market and/or sold.
In other Barnett Associates news we have started growing again, along with business, by bringing in two experienced agents into the office, Kristy Stephensonand Kam Bradley. It has been great to have new blood in the office to get me fired up and motivated. Now it is time to focus on getting some listings on AR for some added publicity.
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