Home Buyer Steps Workshop
10:00 am – 3:00 pm
Youngstown Cultural Arts Center – 4408 Delridge Way SW, Seattle WA 98106
Home Buyer Steps is a Workshop approved by Washington State Housing Finance Commission (WSHFC). The Home Buyer Steps Workshop is 5 hours and designed to provide participants with a Step by Step guide to the Homebuying process. Once completed you will receive a certificate of eligibilty to apply for down payment assistance or a Mortgage Credit Certificate if your income qualifies you. This class is perfect for ALL first time home buyers and those who haven’t purchased in many years but is not limited to 1st time buyers as a few WSHFC programs apply to many others as well based on area, job type, and income.
Together, we will help you understand and have working knowledge of:
1) Your Credit Score and its impact on your financial life.
2) Creating and working on a Budget
3) The Home Inspection Process
4) How to Find Realtor’s and Loan Officer’s with your best interests at heart.
5) How to protect yourself from Predatory Lending and how to interview a real estate agent.
6) Reading a Good Faith Estimate, Truth In Lending, and other essential documents.
7) Understanding what Escrow and Title are with industry speakers on the topic, along with available home warranty programs.
8) Going over all your different loan options including those specific to first time buyers.
9) In Depth on the Mortgage Credit Certificate, Home Advantage, and House Key Programs.
Our Workshops are done free of charge by local industry experts who volunteer to help you take the next step. We are happy to help you along the way and will answer all your questions. Upon completing the workshop you will feel more confident as a consumer and empowered in your path to home ownership.
RSVP to Classes@TeamReba.com or call 425.970.3697
Instructors: Eric Aasness of Wells Fargo Home Lending &
Robin Tomazic of Team Reba at RE/MAX Metro Realty
I have to literally look online at thousands upon thousands of homes every day for real estate. Sometimes you see a photo that just stops you in your virtual tracks and you have to look at it a little longer and then wonder…. why?
Can you see what caught my attention here?
Seriously, who needs to take, or make, a call that badly? No, really, I’ll just hold and give you a minute or you can just call me back. LOL!
I’m not sure if I want to know why this got installed. I guess I can imagine a few scenarios where maybe there is a concern about health and bathrooms are often where falls happen… but by the toilet? I’m assuming it was installed after the place was originally built.
I’ve been saying this for quite a while now, but here is some information to back up my remarks via our Northwest Multiple Listing Service – the database membership that all brokers in our area (residential in specific – many pure commercial brokers are members of CBA instead) use in selling homes.
Spring Market “Not Waiting For Tulips”
But Limited Inventory Frustrates Homebuyers
Current Statistics | Market Recaps | Market Update Charts
KIRKLAND, Washington (Feb. 5, 2015) – Home sales this super bowl season outpaced a year ago as sidelined buyers emerged to compete for limited inventory, according to brokers who commented on January activity.
New figures from Northwest Multiple Listing Service show year-over-year increases in pending sales, closed sales, and prices, while inventory fell by double digits.
“The current inventory of homes available for sale has never been lower in my 22 years as a real estate broker,” lamented MLS director George Moorhead, designated broker and owner at Bentley Properties.
The number of active listings of single family homes and condominiums fell from the year-ago figure of 19,195 to 17,082 at the end of January, a decline of 11 percent. Twelve of the 23 counties in the MLS system reported double-digit drops. For the four-county Puget Sound region, the selection was down 12 percent.
When measured by months of supply (the ratio of sales to listings), Northwest MLS figures show it has dipped below four months. In King County, there is only about two months of supply. In general, brokers say four to six months is considered to be healthy balance between supply and demand.
Blame brisk sales, as the number of pending sales, at 7,658, surpassed the number of new listings, which totaled 6,989. A comparison of figures for the four-county region for the past 15 years indicate January’s pending sales exceeded any of the prior years (see chart).
“We saw sales at a higher pace this super bowl season than last year,” remarked J. Lennox Scott, chairman and CEO of John L. Scott Real Estate.
Closed sales increased more than 3.7 percent compared to a year ago, rising from 4,306 completed transactions area-wide to last month’s total of 4,467.
Scott said multiple offers of most new listings are common. “We are entering February with a severe shortage of homes for sale in the neighborhoods close to the job centers, and we expect that shortage to continue throughout the spring market,” he stated. Buyers need to be “buyer ready” so they can react quickly. Brokers recommend getting preapproved for a mortgage, which can give potential buyers an edge in a fast-moving market.
Home prices for single family homes and condos are also tracking ahead of the year-ago pace. The median price on last month’s closed sales was $279,000 system-wide, up about 9.4 percent from the year-ago price of $255,055. King County reported the highest median price at $390,000, up 6.9 percent from twelve months ago.
For the 3,880 single family home sales that closed last month, the median price was $288,000, about 8.7 percent higher that a year ago when the price was $264,995. Scott said a 4 percent increase is the historical norm.
Condo prices spiked more than 13 percent, rising from $194,000 area-wide to $219,900. In King County, which accounted for nearly six of every 10 condo sales, prices rose 6 percent, from $225,000 to $238,500.
Moorhead believes inventory shortages are due in part to hesitant sellers. “Sellers who would like to enter the market are holding off for two main reasons,” he suggested, adding, “Either they cannot find the next home to move up/down to, or they purchased between 2005 and 2007 and may still be underwater.” Sellers who were foreclosed or completed a short sale during the Great Recession are becoming eligible to purchase a home again, Moorhead noted. “This will bring an altogether new segment of buyers who are more savvy and cautious” so they won’t repeat past mistakes.
Moorhead also credits new loan programs, revised loan programs, and a general easing of guidelines for buyers with making home buying more attainable. “The only holdback is inventory or credit scores,” he suggested.
Northwest MLS director Frank Wilson echoed that notion. “It’s almost the perfect storm: low interest rates, low inventory, pent up demand, and a pipeline of sidelines buyers who could not buy because of a past short sale or foreclosure.” Their two year to three year waiting period is up and they are looking again, he reported.
Wilson, branch managing broker at John L. Scott in Poulsbo, said the spring market is not waiting for the tulips this year – “spring has already sprung. We are seeing an increase in traffic at our open houses with more buyers out looking at our limited inventory.”
Wilson also said brokers in Kitsap County are starting to hear murmurs of the second home market. “We have buyers looking for second homes along Hood Canal, and we fit the parameters of many Puget Sounders not wanting to drive more than three hours to reach their getaway house.”
In Snohomish County, where closed sales jumped 11.5 percent from a year ago and prices surged more than 17 percent, broker Diedre Haines reported, “We have buyers in all price ranges out looking and anxious to buy.” She credits low interest rates, strong employment and economic conditions and “reasonable as opposed to exorbitant” appreciation with spurring activity.
Despite all the favorable indicators, pending sales in Snohomish County rose only 3.5 percent compared to a year ago, noted Haines, principal managing broker in South Snohomish County at Coldwell Banker Bain. “Why?” she asked rhetorically. “Simple answer: We need more inventory.”
“The Seattle housing market is going gangbusters, but we’re still starving for inventory,” said OB Jacobi, president of Windermere Real Estate. “If open house traffic is any indication, there are LOTS of buyers out there looking for homes, so my message to would-be sellers is: If you’re on the fence, it’s time to jump off. The market conditions are so much in your favor right now.”
Haines agreed. “Potential sellers should talk to their real estate broker and find out if now is the right time for them to sell,” she suggested.
Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership includes more than 21,000 real estate brokers. The organization, based in Kirkland, Wash., currently serves 23 counties in Washington state.
Statistical Summary by Counties: Market Activity Summary, and 4-County Puget Sound Region Pending Sales
Gorgeous Seattle pied-a-terre in Belltown neighborhood, steps away from everything! – $275,000
3104 Western Ave #421, Seattle, WA 98121
Parking Spaces: 1
Year Built: 2008
Located on Floor #: 4
Floors in Bldg: 6
School District: Seattle
Square Footage: 507
Agent Name: Reba Haas
Broker: RE/MAX Metro Realty
MLS #: 737491
Stylish and convenient living is here in this pied-a-terre at the corner of Western & Denny, be part of a vibrant scene with nearby shops, salons, and restaurants plus nearby SAM Sculpture & waterfront parks – 92 WalkScore. Pike Market is close as is the newly charged South Lake Union. Relax and entertain this summer on the 360 degree view rooftop deck and on rainy days take advantage of the common area w/ pool table/kitchen/seating. Upgrades: A/C, FULL size w/d, full stove, designer chandelier. Pet friendly building! No rental cap (buyer to verify).
- Full Refrigerator
- Sink Disposal
- A/C unit
OTHER PRICING DETAILS
Homeowner Dues: 310.53
No Fluff Savvy Home Seller Seminar -FREE- Feb 28 in Seattle
Saturday, February 28, 2015
11:00 am – 1:00 pm
RE/MAX Metro Realty Inc. office
RSVP to Classes@teamreba.com or call 425.970.3697
Home buyers get a class to learn what to expect in a purchase, but doesn’t a seller need to know the process from their side? Of course! Most people don’t realize that home selling is often more of a nail biting experience than buying until they’re in the middle of it.
In today’s selling environment, there are many new factors that sellers in the past didn’t have to consider….
-Will bank owned properties and short sales affect my house value?
-Busting market myths for TODAY’s environment – is it a seller or buyer’s market? Or both?
Other issues that affect sellers today including, but not limited to:
-What buyers expect today and the financing they’re using – how will it impact your sale?
-Legal and disclosure obligations (there are a lot!)
-Title insurance – what it is, why you pay for it and why you should be happy to do so
-What’s necessary in preparing a home for sale to get maximum value
-Inspections – what they are and how they affect your sale
-How to move (relatively) stress free and more….
On hand will be real estate brokers discussing the contract and market realities of today and a home inspector to help you navigate toward a successful sale. This seminar is FREE to the public, but you MUST RSVP!
RE/MAX Metro Office:
2312 Eastlake Ave E
Seattle WA 98102
Parking available in alley access to the office or in the street level parking garage. Extra parking available on the street.
Alternate travel options: Metro Bus routes 66 & 70 have a pick-up/stop by our office
Some folks are wondering why our real estate market in the Seattle area continues to be so hot… well, interest rates and unemployment are two big factors affecting the industry so let’s take a look at one of those right now. As you can see in the graph above, we’ve gone from some all time highs around 9.5% to being now about half of that in the mid-4’s. Strong employment, along with gains in income are helping fuel both the strong rental and home sale markets.
These along with continued low interest rates make for a heated market place overall. Some job centers will do better than others and those mostly suburban locales won’t see the same appreciation gains, especially if bulk new construction is coming in, but we’re still a few years behind on the needed new inventory. Bottom line, it’s still a seller’s market and we’re short of inventory.
Team Reba will be teaching its No Fluff Savvy Home Seller Class coming up on January 31st, 2015 in Seattle. If you’re a home owner considering selling in the coming year, this is a good time to get caught up on the changes in financing, contracts, CO monitors and more that will affect your home sale. We’ll also discuss best practices to get the most money out of your house.
Many of my real estate clients know that for some fun and “relaxation” I like to perform music when I’m not out chasing a good deal for them. For anyone who has been curious about what some of the shows sound like, here is a link to some videos from a recent performance on January 3, 2015 at Emory’s on Silver Lake in Everett (nearer to Mill Creek). We weren’t expecting to be filmed that night, but a gentleman named Marc Tachell who runs the website http://www.everettrock.com surprised us with a visit and videotaped most of our 1st set making a total of 12 videos. Thanks to Marc for his support of local live music!
We just happened to have several modern country and crossover hit songs in that 1st set but we do a mix of rock and pop too, including an original work from my co-singer, Zach Davidson, called Tryst Calypso. Had we known someone would be filming, we would have had our sound technician (my hubby, James Rupp from R&H Sound Productions) checking the house lights… we didn’t mean to be eerily green. But if you’re “green with envy” for not having been there, the band (Crossing Lines Band – XLB) will be back at Emory’s on January 30th, 2015 from 9pm to Midnight! One big benefit of this location is that it’s family friendly in the restaurant area up till 11pm, and the lounge is 21+. You can hear throughout the venue so there’s always a good seat available.