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Short Sale or Foreclosure? A Homeowner’s Comparison

Despite the discussion of recovery and being at the real estate bottom, many homeowners are still faced with the tough decision: Short Sale or Foreclosure? People facing a short sale or foreclosure have a lot of choices to make and depending on those choices the impacts can be greater and last longer. Here 8 different financial areas impacted by a short sale and foreclosure.
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Posted in Snohomish County Real Estate Home Buyer and Seller Tips | Tagged , , | 2 Comments

Thinking About Remodeling? Learn What Gives the Best Return

Remodeling is a excellent way to improve the comforts of home while increasing curb appeal and selling potential. As we all know, many homeowners are stuck paying for a home in which the value has significantly decreased yet they cannot sell and capitalize on getting more for their money, like many buyers out there. So what does that leave these homeowners with? Well if you’re handy or have some money stashed away then remodeling maybe an option.

With any home, unless its a custom, there are usually features you would like to have or change with the existing floor plan. It could be to knock out a wall and expand a room, or update a dated kitchen with a modern look and feel, or maybe it’s a maintenance item you wish to tackle. In Washington, some remodeling/improvement items maybe more pressing than others; especially if your home still has first generation LP siding.

According to eLocal.com’s infographic, which doesn’t say the sq/ft of the home and it should be noted that actual cost may vary, the siding cost is approximately $9,500. Updating the siding of a home helps prevent against mold, rot, and costly repairs down the road – or unexpected problems when selling. By updating the siding a homeowner can reasonable expect to get an 87% return on the initial cost. Review the infographic below for other expected returns for a remodel project.
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CenturyLink Field and Midnight Lights [Video]

As a huge Seahawks fan, previous season ticket holder, I get excited when videos pop of the fan, stadium, and the team. Making the rounds yesterday and today on Facebook, even shared by Coach Carroll’s song of the day status, is jimmydiebold‘s video titled Midnight Lights. Midnight Lights takes Halloween and Christmas light displays to a whole other level with the Seahawks’ (Sounders and now Huskies) CenturyLink Field in what can only be described as an AWESOME show.

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President Obama’s Refinancing Plan for Homeowners

This morning, in Falls Church Virginia, President Obama announced his Refinancing Plan for responsible homeowners. From the press conference, it was mentioned that homeowners can qualify for historically low interest rates while potentially saving homeowners $3,000 annually on their mortgage payment. The keyword is qualify and historically the government has not made it super easy for responsible homeowners to take advantage of programs.

The refinancing plan will not help anyone who’s decided that walking away from their home is the best option – it is unclear how being behind payments will affect qualification. With that said, if a homeowner has been adversely affected by job loss that this plan will be able to help those folks, that is my understanding anyways. According to the HuffingtonPost.com:
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Posted in Snohomish County Mortgage Information & Home Loans | Tagged , , | Leave a comment

Enjoying and Surviving Snowpocalypse 2012 [Pic] [Video]

The Puget Sound region is going through Snowpocalypse 2012 and Washingtonians are getting reprieve with warmer temperatures. It all began Saturday the 15th with the news media predicting a Snowpocalypse and the terror ensued. With traces of snow fall around Snohomish County it seemed residents where in the clear. That was until Martin Luther King Day arrived with a fresh blanket snow and a day to go ride Stevens Pass. The snow was so deep I couldn’t resist skiing the day away with good friends. I posted a ski video on YouTube from skiing Southern Cross on the Backside.

The story doesn’t end with a loads of snow on MLK day. Oh no! Hold onto your britches as its about to get real. Tuesday I spent the day with a lovely couple relocating from Las Vegas trudging through the snow to look at Granite Falls riverfront and Arlington resales. As the snow piled up we decided to call the showings for the day and headed back to the office. Wednesday and Thursday continued to produce heavy amounts of snow and the news crews had no shortage of information: people without power, car crashes, school closures, more accidents, snowman contests, and freezing rain that contributed to deaths – so sad.

Today marks the beginning of the end of the Snowpacolypse with the arrival of rain. Terrible! I could handle more snow. With a bitter sweet ending to the snow here are pictures taken from the area.
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Residential Real Estate Statistics for December 2011

Snohomish County is well into 2012, with another day of snow, and December 2011′s real estate statistics are published for review. Personal Experience Moment: To the disappointment of current clients, I noticed many homes in the $75k – $150 price range dropping off the market right at the first year.

Q: Why would homes be taken off the market this time of year?

Homes are taken off the market for many reasons 1) sellers decided to rent (one of our clients rented their home), 2) sellers fire their listing agent and take time to hire another or choose to go FSBO, 3) the seller and listing agent’s contract to sell the home expired on 12/31/2011 and 4) sellers decide just to stay in the home and not sell. With bank owned properties I see item 3 be the case.

With that said, take a look at SUPER low housing inventory levels.
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Going DARK to Protest SOPA & PIPA – Stop Censorship

Stop Censorship - Say no to SOPA & PIPA

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Boeing to Close Wichita Manufacturing Plant [Poll]

Jobs, jobs and more Jobs. Washington residents want more jobs and who better to provide local jobs than The Boeing Company.

Last year, Boeing announced the winning of the Air Force’s tanker contract which brought many out from Wichita to Snohomish County yet with today’s closure announcement will the same thing happen?

According to USA Today’s article “The company will move 200 tanker jobs to its plant in Washington” which seems like a drop in the hat when compared to the 11,000 tanker contract jobs. The Seattle Times reports that it will net only 100 jobs to the Puget Sound region. Though the job figures are low I am still a fan of more jobs.

In November 2011 Washington State’s unemployment rate was down to 8.7% which is the lowest point since March 2009 – unemployment in the State was 9.1% when the tanker contract was awarded.
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USDA Home Financing Option for Snohomish County Residents

The New Year is right around the corner and this will be the final post of 2011. People promise to make little and big changes. Losing weight, traveling more and buying a new home are among the popular resolutions. Sadly, the “buying a home” resolution proves difficult to accomplish.

Some people don’t even try because of the misconceptions of home buying. Homeownership is not unachievable, even for people with bankruptcies on the report or low credit scores. Conventional loans have gotten a bad rep for a reportedly extreme down payment requirement—as high as 20%. When in actuality, lenders are accepting 5% on down payments all the time. The Federal Housing Administration Loan requires 3.5%. Other government-backed loans such as the VA loan for active duty and veteran soldiers and the USDA home loan do not require a down payment at all.
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Posted in Snohomish County Mortgage Information & Home Loans | Tagged , , | Leave a comment

Residential Home Inspections: Why Are They Important?

On the surface the residential home inspection may seem like a insignificant item that could be done without yet when buying a home it is a critical step. What appears to be a little elbow grease work can really mean remolding an entire bathroom or a roof replacement. The more knowledge about a property the a better decision can be made to either purchase or not to purchase.

So what is a Residential Home Inspection?

Picture of an Attic - Home InspectionA home inspection is an independent property review by a licensed home inspector whom the buyers have hired (a home inspection is different from a residential home appraisal yet there are similarities) to give them a written unbiased property condition report. A qualified home inspector will be able to breakdown everything good, bad, and ugly about the property. Identifying the problem areas are their expertise. Inspectors are impartial, have no emotional attachment and are not blinded by the curb appeal of a particular home. Home inspectors look at the foundation, siding, roof, drainage, hot water tanks, plumbing, wiring and much more then supply all that information in a written report containing pictures to the interested parties.
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Posted in Snohomish County Real Estate Home Buyer and Seller Tips | Tagged , , , | 4 Comments

Home Buyer & Seller Advice

  • Gleneagle Open Houses

    Join Mickie Barnett and preview this wonderful 1,400 sq/ft rambler in Gleneagle Arlington. Bring the family and take your time looking and asking questions. Where: 17609 Osprey Rd, Arlington, WA 98223 – Get Directions When: October 7, 14, 21 and [...]

County Activities, Events, & News

Real Estate Statistics & Updates

  • Snohomish County Residential Housing Statistics for April 2012

    Boy have times changed and I wouldn’t have pegged Snohomish County to be experiencing similarities to the most recent real estate bubble. Without the sub prime markets, predatory activities, and general real estate fever, Snohomish County has been shifting back [...]

Washington Recreational Activities

  • Mustangs Northwest’s Mustang Roundup – July 14, 2011

    Yesterday marked another day in my friends and I’s pursuit for speed, g-force corning, eye-popping braking, and seat of the pants fun. For the past 14 years my friend, Brian, has been building his 1993 GT Mustang to handle road [...]