The real estate market of the past few years has been a series of firsts. So in honor of having survived completed two decades in service to the real estate industry, I decided I’d step out on a limb and publish my first ever official list of predictions for the South King County real estate market. (Much of this can be said for numerous markets across the region, but I’m relying heavily on hyper-local regional stats in addition to my handy Crystal ball) Here’s how I see things shaking out for 2010 (in no particular order): Short Sales will continue to put downward pressure on pricing In South King County approximately 23% of all single family active listings are short sales; those which are subject to the underlying lender’s approval. But when we look at pending sale numbers (sales under contract but not yet closed) the number jumps to 57%. Partly due to the length of time a short sale takes to complete but also due in large part to these being newer homes with more modern amenities, now being offered at a deep discount. Buyers are demonstrating their willingness to be patient if it means they get more...
Selling
South King County Short Sale Activity Report
It’s been said we are currently experiencing three different real estate markets; the “regular” sale market, the foreclosure/REO (real estate owned market) and the Short Sale market. Chances are, if you’re actively looking to buy or sell right now, you’re familiar with the term Short sale. And if you’re a “regular seller” you’re probably a more than a little tired of hearing about them. Because these sales usually mean longer closings and the uncertainty of whether their offer will be approved, short sale properties are often marketed at very aggressive prices designed to convince the buyer to hang in there for the long road ahead. Until the short sale process is streamlined and lender decisions turned around more quickly, short sales will continue to pull the prices of "regular" properties down. Here’s a snapshot of Short Sale activity by City throughout South King County: Of note are the number of pending sales to actually closed sales, which is demonstrative of the obstruction these sales are having upon the market. Please note, these numbers represent homes listed and sold through NWMLS only and do not reflect private party sale, if any. If you or someone you know needs...
Sell Short or Let it Go Back to the Bank? One Seller’s Decision
Until the process of short sales is streamlined and made to be more uniform, it will continue to be a frustrating experience for most parties involved; the home seller, the home buyer, the real estate agents involved, closing parties. They require more time and tenacity than most “regular sales” on the part of all who are trying to keep the home from going to foreclosure. I’m asked on a regular basis why a homeowner would put him or herself through this stressful process, rather than just walking away and letting the bank have the house back. The other day I found this video on the RE/MAX International youtube channel. I will let this seller explain it. She does it far better than I ever could. Watch The Pit and the Pendulum the movie online Saw 3D aka Saw 7 3D movie for sale Hellbound Hellraiser II the movie Its a Mad Mad Mad Mad World movie reviews effectiveness of nitrofurantoin price augmentin watery diarrhea online fucidin mouth effects diovan kidney side effect side effects Buy skelaxin user reviews doxycycline capsules antibiotic usa paxil side effects taste terramycin for dogs eyes side effects lamisil dangers price alessi kitchen discount code...
Kent Easthill Home SOLD! Multiple Offers & Escalation Clause
Multiple offers are not fun for anyone in any market. That is unless you’re the home seller who is able to choose their buyer. As a Listing Agent, I dislike multiple offers because it means someone is going to be disappointed. As a buyers agent I dislike them because it’s hard to read the tea leaves and best advise my client on what it’s going to take to be the chosen offer. This home in Summer Glen on Kent’s East Hill was on the market for approximately 10 days, received 3 offers, two of which were for more than full price and had Escalation clauses attached. We closed escrow today, with a sales price of $285,000. Our listed price was $278,950. The sellers were great, did what they had to do to get the house in showing condition. They took a good look at the math of the market and were realistic when it came to pricing. It helped that this home was not a short sale, so buyers knew when they made their offer that closing could occur within a reasonable time period and would not be subject to a 3rd party lender’s approval. Congratulations to the new home buyers!...
More Good News for 1st Time Home Buyers
Many first time buyers already know about the first time home buyer tax credit for purchases made this year. But since most zero down-payment programs have been eliminated, many buyers are still unable to purchase because they don’t yet have their 3.5% downpayment saved. Although the credit was meant to stimulate home sales, there’s a bit of a logistical problem…. in order to get the credit, buyers have to purchase a house, but in order to purchase a house, they need the tax credit to help with their downpayment. Here in Washington State, the legislature is looking into a creative alternative to help would-be buyers take advantage of this very affordable market. The State recently passed a budget which provides 25 million dollars to be used as advances against the tax credit. They are calling it the TAX CREDIT ADVANCE PROGRAM The details have not yet been worked out, but hopefully this will be a viable option for local buyers in the very near future! Behind on Payments? We May Be Able to Help! Find out what your King County home is worth. Find My Dream Home! City of Scars movie dvd The Life and Times of Judge Roy...
New Requirements upon Sale for King County Homes on Septic
King County has followed in Pierce County’s footsteps by recently imposing a requirement for an inspection for a King County licensed septic technician for all sales but those pending prior to January 19, 2009. Per a bulletin posted by NWMLS: January 16, 2009. In King County, the seller of any single or multi-family residential property served by an on-site septic system is now required to have a monitoring and performance inspection prior to transfer of title. King County will require the inspection and report to be completed by a King County licensed On-Site System Maintainer (OSM). A copy of the inspection report must be submitted to the Health Department and the buyer prior to transfer of title. The new requirement is set forth in King County Board of Health Code Section 13.60.030. You can obtain a list of approved OSMs here: Felon movie dvd Watch The Dolphin Story of a Dreamer the movie Brighton Rock the movie Watch Transamerica movie online Apollo 13 dvd Watch Its Alive movie online Buy Assassins movie Watch The Matrix movie online Watch Menace II Society Watch Which Way Home Canon movie review 10 Things I Hate About You movie download Seven Steps of...
New Requirements in King County Upon Sale
King County has followed in Pierce County’s footsteps by recently imposing a requirement for an inspection for a King County licensed septic technician for all sales but those pending prior to January 19, 2009. Per a bulletin posted by NWMLS: January 16, 2009. In King County, the seller of any single or multi-family residential property served by an on-site septic system is now required to have a monitoring and performance inspection prior to transfer of title. King County will require the inspection and report to be completed by a King County licensed On-Site System Maintainer (OSM). A copy of the inspection report must be submitted to the Health Department and the buyer prior to transfer of title. The new requirement is set forth in King County Board of Health Code Section 13.60.030. You can obtain a list of approved OSMs here: Movie Online Tears of the Sun movie for sale Shoot First and Pray You Live Because Luck Has Nothing to Do with It the movie online Buy Beverly Hills Cop II movie Watch Deadliest Sea the movie online motrin expiration date pills cozaar patient assistance program tabs isoniazid optic neuritis side effects norvasc hypertension treatment pills zoloft qt...
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