With the huge number of homeowners facing foreclosure, it is true that your lender does not want your home. In fact, mortgage lenders are also victims in this crisis (believe it or not) as well. Your problem has become their problem!

With 8 homes in every 1000 currently in foreclosure (and many, many more on their way), banks are in no hurry to take your home. They will run themselves out of business if they were to take back the homes of all their high risk mortgages. Most lenders are willing and eager to find a way to keep you in your home. The key is to act sooner rather than later so you have as many options available to you as possible. Don’t let fear keep you from contacting your lender to see if there is a workout plan available to you.

The current downturn in the South King County real estate market (that makes news headlines) is not all bad news. The historic fall in South King County home prices, coupled with rock-bottom interest rates on mortgages, could mean the deal of a lifetime for home buyers.

With home prices falling as much as 30% (or more) in some parts of the country the past year, many home buyers are learning they can afford homes in areas they once believed were out of reach.

ATTENTION SOUTH KING COUNTY HOME BUYERS!

Home staging, a method of presenting an Auburn home in its best light in order to appeal to the broadest audience base, has gained recognition through several popular cable television programs such as “Designed to Sell” and “Sell This House.” It can range from simply repainting walls to tearing them down, or from changing window treatments to replacing windows. It now offers many more varied services to the client, such as moving in and resettling, event staging, holiday decorating, de-cluttering and organizing and one-day re-design. Home staging has boosted Auburn home sales prices on many occassions, as well as quicken the amount of time the home stays on the market.

Getting references for home stagers and checking those references is essential. Auburn home owners should interview staging candidates and visit homes they staged.

We’d all like to buy the perfect home. Unfortunately, it just doesn’t exist. Even new homes have defects. That’s why it’s important to have any home you buy inspected by qualified professionals-even if it’s brand new.

You’ll undoubtedly discover defects during your inspections. In fact, you should hope that any significant defects are uncovered before you remove your inspection contingency from the purchase agreement. It’s far worse to be surprised after closing by unanticipated repair expenses.

Armed with a complete assessment of the current condition of the property, you can make an informed decision about whether to purchase the property in its present condition. Or, you may want to renegotiate the terms of your purchase agreement with the seller. If defects are incurable, you may want to withdraw from the agreement altogether.

Your purchase agreement should set guidelines for how inspection defects are to be handled. For example, the seller may have had a “termite” inspection completed before marketing the property. If so, the contract might specify which party-buyer or seller-will pay for the required corrective work.

In a hurry to sell your home? Here’s how to make sure you give yourself the opportunity to snag the best price in shortest amount of time.

1. You have to seriously undercut the competition – Selling a home in a down market almost inevitably means settling for a disappointing price. But to unload your home fast, you’re going to have to dip 10% to 15% below what comparable homes in your neighborhood recently sold for. You still may not be able to compete with foreclosures and short sales, but at least you stand a chance of getting buyers to notice your listing.

2. Outside fixes have the biggest impact – Since your house won’t be cheaper than the distressed property down the street, it has to look much better. But you may not have the time or money to redo the kitchen, so focus on cosmetic improvements that will bring the most buyers to your door.

Spending $1000.00 can go a long way toward improving your home’s exterior. Get the outside of your house power-washed, paint the door, replace the knocker and kick plate, and hire a gardener to give your yard some TLC and add some coloring flowers.

3. First-timers are your friend – The most efficient way to market your home is to target the most likely buyers.

The average age of the first time home buyer is 30, and to boost your chances of reaching today’s buyers, you need to think outside of the traditional box. get yourself a snazzy online presence and spread the word  through social networks like Facebook and Twitter.

During times like these, every mistake you make with your money is even more costly. We’d like to share 3 important money mistakes to avoid during this financial crisis .

1 – Don’t Keep Cash at Home!

Many bank failures has people wondering if their money is safe in a bank. One of the worst things you can possibly do is to start stashing your cash under your mattress (or in a dresser drawer).

If you have your money in an FDIC-insured institution, your deposits are now covered up to $250,000 per individual. Your money is safer there than in your home, where it’s at risk of being stolen, or being lost in a disaster (like a fire).

2 – Don’t Skip Payments!

This may sound like an obvious tip, but don’t stop making payments. If you’re in danger of falling behind or you can’t make a payment, call your creditor to let them know you’ll be late. Don’t ignore the problem… it will only ruin your credit and make the problem worse.

Puget Sound Home Buying Techniques

Buying a Puget Sound area home is an exciting and important life event. Being a first time home buyer means you will have many decisions to make — and just as many questions that need answering.

Buying your first home is a huge step. These helpful Puget Sound home buying tips may reduce confusion about mortgage payments and the cost of buying a house:

• Get pre-approved – Buyers should always get pre-approved before they begin house hunting. Buyers should get a written pre-approval from a reputable mortgage lender before they start shopping for a home.

• Calculate your mortgage payments – Buyer’s mortgage payments might be the same or less than rent payments. The (principal and interest) monthly payment on a $200,000, 30-year, fixed rate mortgage with an interest rate of six percent (6.25%) is $1,231 — less than what some people pay for rent (taxes, insurance and any other fees, including closing costs, are extra).

Appraisals: Who’s to Blame for Low Estimates?

Who exactly IS at fault when an appraisal comes to a less-than-desirable valuation? And what IS a home appraisal based on?

Appraisals are typically handled through the mortgage company and appraisers are often selected from a network of appraisers with which the lender company is affiliated. They’re an unaffiliated third party. Often times, there’s confusion because the homeowner is informed about the cost of the appraisal by the mortgage company/banker, when actually there is no mutually beneficial relationship.

During the month of February Auburn had 73 homes sell.    This includes detached homes, town-homes and manufactured homes on owned land. How exciting to be in a new home for all of the family gatherings!

These Auburn WA homes actually had a transfer of home ownership. Contracts complete and Lender funds available. The home buyer and seller signed all of their documents and escrow prepared the closing packages. Once all the I’s were dotted and the T’s crossed there where deeds recorded at the King County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Auburn Washington.

Let’s look at those 73 Auburn homes sold -

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the King County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed”

Before You Invest in Auburn Rental Real Estate

It’s easy to get thrown off by the appearance of a property, your emotions, or what the media is saying. Here are four ways to avoid making that mistake:

Reality Check One: Who is Your Target Market?

If the property is a good fit for your target market, it doesn’t matter if you wouldn’t live there. A renter may cherish the property.

Reality Check Two: Are You Emotionally Involved?

Emotions shouldn’t be involved in buying a rental property, but it’s something to be wary of. If, at any point in the negotiations, you feel you can’t walk away from the deal, you need to take a step back and review everything! When your emotions are involved, you can’t make rational decisions.

Reality Check Three: Are the Numbers Really What They Say They Are?

Remodeling: Which Area is Best?

Thinking of remodeling your Auburn WA home? Trends and times have changed. It used to be that the best place to invest your remodeling dollars was in the kitchen or bathroom updating. But to make your renovation dollar go furthest, focus on the part of the house everyone sees first.

Replace or repair your siding!

Payback: 82% to 87%

Cost: $10,000 to $13,000 for the typical house.

When it makes sense:
Your existing siding is visibly worn or has suffered damage (from a storm, for example).

Selling Your Auburn WA  Home: Will Anyone Want to Look?

According to statistics, 80% of all new home buyers will use the Internet to check things out and then do a “drive by” on their own before ever contacting  a real estate agent to see the house. Will anyone want to even see your home? Does your house pass the initial “Curb appeal” test?

To give your home curb appeal – think “white glove clean”. The operative word here is PICKY! No old newspapers or junk mail lying about, no recycle bins and not a weed in sight.

Selling an Auburn house can make a person into an eternal nagger! Teenagers wash their car and leave the sponge and bucket on the driveway; younger kids come in and drop pucks and gloves at the front door and bikes are always hastily dumped on the driveway. You know the routine…

These items can be temporary; The question is, do you have any permanent fixtures that must be moved?

Home Inspections: The Different Types

Home inspections tend to confuse homebuyers, especially if buying a house is a first-time experience. Below are different types of home inspections you may encounter:

Primary Home Inspection

This is the most important thing to do when buying a house. It is unbelievable how many homebuyers overlook this when purchasing a property. If you want to avoid homebuyer’s remorse you need to have your future house thoroughly inspected.

Appliances: When to Repair – When to Replace

The hot water is no more, or the furnace makes you pull out the blankets. Perhaps your washing machine just spun it’s final load.

The question becomes, Fix it, or junk it?

If an electronic device cost less than $200, junk it without further thought. Repairing a relatively inexpensive item like a cordless phone or counter-top microwave is not cost-effective.