What are the Different Types of Title Insurance Policies? In this blog post we'll briefly touch on common title insurance policies in Washington State.

Lender's Policy

If you've ever mortgaged a home, chances are you were required to purchase a title insurance policy. This Lender's Policy (often called a loan policy) is required by most lending institutions as a way to insure their security interest in the property. This policy protects the bank or other lending institution for as long as they maintain an interest in the property (typically until your mortgage is paid off).

Home maintenance is the never ending battle of homeownership. Somedays you're winning, feeling caught up or ahead of the game, and ready to soak up some couch time. Then, without notice, you can't do anything right. You're breaking toilets, losing tools, and the house just seems to be falling apart around you. Stress is high and you're trying not to snap at the family.

I should know as my experience runs deep and the struggle to repair, replace, and fix a previous owner's care, or lack thereof, is never ending. At times the tasks are hard and sometimes they're easy yet the whole ordeal is overwhelming.

Do People Buy or Sell a Home During the Holidays? It is a common industry myth that people do not buy or sell homes during the holiday season (November through January). The rational behind this myth is: people would rather enjoy the holidays without having to worry about showing(s) while guests are visiting and no one want to be move while the weather is poor.

If you believe the myth then there is no point to list a home for sale or shop online and available homes for sale.

But the answer to the question Do People Buy or Sell a Home During the Holidays? the answer is "Yes". And, its an even better time to sell and buy home for the following reasons.

Are you moving and have a pet or pets? If so, here are 5 tips to make the move easier on your pet as well as yourself.

What Would Snohomish County Home Values be if They Dropped by 20%? Now this title isn't intended to be click-bait and have a shock-and-awe post to follow yet it's an example of where the area could be while bringing some perspective to home buyers and home sellers.

If you were either buying or selling a home between 2020 and 2021 then you are highly aware of market conditions during that time. If not, here is quick overview.

There was a lot of money in the market place and housing inventory was at its lowest levels, ever. These buyers also had access to loan programs that allowed them to borrower against 401k's, stock portfolios, and retirement accounts which facilitated in making "cash" offers with little to no contingencies so they could "win". Sellers on the other hand entered the market expecting, and most of the time achieving, multiple offer situations, aka .. "bidding wars", were buyers dumped money by the truck loads at the sellers door hoping their offer was accepted.

Now, the real estate market has shifted with properties staying on the market longer, sellers are reducing their prices, interest rates are continuing to climb, buyers are writing offers containing traditional contingencies, and industry gurus talk of another recession all the while policy makers are try to curb inflation. Yet, what would happen if property values across Snohomish County dropped by 20%?

The Northwest Multiple Listing Service, where we input all properties for sale and where the website downloads all the property data from, has published their September 2022 Market Snapshot statistics.

In the below infographic you'll see statistics for September 2022's median sales price for residential homes & condos, the number of residential & condos sold by NWMLS members, the total value of closed residential homes & condos, median sales price for new construction, housing inventory, and more.

Scroll down the graphic and view the figures for yourself and share your thoughts below.

What does the term "Life of a Sale Escrow" mean in the real estate industry? The term "Life of a Sale Escrow" is a term referring to a process in the sale of real property which locally is commonly referred to as "Escrow" or "at Escrow". The below infographic details the 7 steps commonly handled by the escrow company, or closing agent, in the transfer of real property.

There has been so much talk, discussion, and questions around the Snohomish County real estate market if it has peaked, are home value going to plummet or continue to increase, how long will the shift last, and how high will interest rates go? All those are valid concerns for home owners, potential buyers, investors and if you're like us, this is not the first time you've experienced a market shift.

Regardless of the shift, people need housing and many times housing is dictated by events in that person(s) life. Family could be growing or shrinking, job changes drive moves to new areas, wanting personal space and not having roommates or the opposite of wanting roommates, and/or just a change of scenery. Whatever the reason(s), homes still become available and sell during shifting markets.

So, how do residents stay current with the Snohomish County housing market when there is so much uncertainty around housing prices, mortgage interest rates, housing inventory, and avoid the feeling of defeat? Simple, continue reading.

One of our Arlington clients called asking what we know about the Snohomish County Assessors visiting properties, taking pictures, and stating it was for a 6 year property valuation. We knew the Assessors office conducted site visits in the past yet thought that practice was put out of practice years ago. To learn more about the Assessors visit a call was placed to their office this morning.

Did you know there are closing costs, costs associated with a buyer's purchase, when purchasing a home? If not, you're not alone. The home & property purchasing process has many moving parts and complexities not found in other purchases. That is why we set buyer consultation appointment to detail the home buying experience and cover the many details one will encounter.

During the process, if a buyer is using financing to purchase, the buyer will meet with a home loan specialist to discuss types of financing, obtain a per-qualification, and learn all the costs associated with their purchase. However, with the amount of information a home buyer will receive its not uncommon for closing costs to be forgotten. So to help understand what home buying closing costs are here are 10 Common Buyer Closing Costs when Purchasing a Home.

1. Home Inspection: Usually not a financed cost yet a cost a buyer will incur if their purchase and sale contains a home inspection addendum. In addition, a home inspection's costs are not refundable whether a a buyer chooses to move forward or terminate the contract based on the inspection's findings.