Ok, all I can say is… take a moment to read through the top of the sign on down. It’s funny as heck as soon as you put the whole scene together but you surely don’t want your residential development to become famous just because of a really bad naming job.
This fantastic Chancellor home has incredible space for the price. With 3220 sqft of space encompassing 5+ bedrooms, an office, bonus room, and extra finished room you’ll love it. Thoughtful built-ins help maximize the space you get and keep clutter at bay. Easy access to transit and commuting options make this a fantastic place to call home. (Metro buses 236 to downtown Kirkland and 257 to downtown Seattle come by within a half block.)
Relax in the large back yard on the deck, or shoot some hoops and then ease your muscles in the hottub. You can’t go wrong with this home! To make it even more relaxing, there is a 1-year basic American Home Shield home warranty that is available to the buyer at closing to help cover the appliances and systems in the home.
A slideshow of all the photos is available here. A total of 17 photos to be exact showing all the rooms of the house except for the garage interior and laundry room. There is an eat-in kitchen with space for a couple of barstools and/or a kitchen table for more informal dining.
The home is located near Totem Lake, where Evergreen Hospital is growing by leaps and bounds and it is also near one of the first Trader Joe’s in Washington. Lots of local amenities and there is a community pool you’ll have access to as well. Better get busy before Labor Day weekend if you want to enjoy it this year! Local park & ride nearby makes the possibilities of reducing your carbon footprint easier. Easy access to Eastside companies and employment centers(Bothell, Bellevue, Redmond) such as Microsoft, Expedia, and Overlake Hospital.
We’ve even got a great offering from Eric Aasness (one of our co-contributors) that if you use his office for the financing portion, they’ll offer 1% of the loan amount toward your closing costs! With 10% down, the loan amount will still be under the new, temporary increased level of conforming loan limits - which is $567,500.
Come swing by and take a look for yourself!
We’ve been getting some good news from many of our past clients in the last several weeks and I must say that it’s really nice after reading so much of how the media slams our industry and the gloom and doom news that abounds.
One of the stories I love is about a client who moved to Costa Rica a couple of years ago. We originally met this clients as she prepared to sell a long time family owned property that sat in L3 zoned land in the Ballard neighborhood of Seattle. Because of the size, location, and level aspects of the site she was able to get much for the single family home than she might normally get in residential zoning.
Since moving to Costa Rica, she has been sending me updates about her adventures and now the house she is having built. Just this week I received several photos of which I am thrilled to view and share here. It’s also intriguing to me to see how construction is handled in a country other than the USA. Check out some of these shots….
Joan and her builder, Richard, walking by Nispero lumber.
Temporary power set up
House view to the north
View east to the garden
Congrats, Joan, on making your dreams come true! It’s a ton of work, I’m certain, but it’s great to see you putting together what you planned and watching it come together.
A local mortgage professional who we sometimes work with sent out a notice today. See the comments below in Italics.
Most of you are aware that Down Payment Assistance programs like Nehemiah, etc. are history effective October 1st. Lenders are requiring that loans using DPA’s fund by September 30th. Therefore, some lenders are requiring locking and submissions by August 15th and others by September 12th.
If you have any clients that need this program, now is the time to do it. While there is a movement to get the programs reinstated, it’s anybody’s guess as to how that will turn out. Let me know if I can help you in any way.
Jerry Rutherford
Professional Mortgage, Inc.
22659 Pacific Hwy So Suite 101
Des Moines, WA 98198
Phone: (206) 870-5050 Cell: (206) 356-1711
Toll Free: 1-800 764-5626
Email: jrutherford@pmiloans.com
www.pmiloans.com
WA Lic. # 510-LO-35158
I’d been receiving some other industry requests asking for feedback to be sent to legislative members who were responsible for voting. It seems that even with support from the NAR and mortgage professionals who see the daily need for programs like Nehemiah, the folks in government decided to act rashly anyway. I guess it’s typical politics as usual because government frequently seem like a massive pendulum going to extremes and only after protracted battles and lawsuits will it go to the center and make sense.
So, the other day I’m posting yet another of our client listings to Zillow when I get an email telling me that I have become a Zillow All-Star. I think to myself, “what the heck is that?” So, in looking it up I find out that, according the notice posted on their site:
It’s kind of funny, really. When Zillow first came onto the scene a lot of agents saw them as a horrible new type of competition. We’ve never felt that way although we did make sure to try and understand what the online service was, and wasn’t, so that we could help educate our clients and the public on this new tool. Being that the firm is locally based, I’d like to see them do well because it helps bring jobs to our local economy and I think the services they offer are valid. There’s nothing wrong with wanting to get a bit of an idea of what your home value might be without having to get an agent involved, or to hire an appraiser. If it’s just curiosity you’re dealing with and not a sale or a refinance, then checking this site out is not a bad thing. It also helps people understand where their neighborhood values may be going too.
We’ve even gone so far as to include it in our marketing of properties when we have listings. One of the tools I like on the site is the “claim my home” because we can do that and update the information on the site if there have been changes to a house. Frequently the info that Zillow is working from is incorrect or out of date - so this is a way to make the data that is publicly available match what we’ll have in our listing packages. It’s a good tool overall since we know a large number of people look here to compare Zestimates(R) with listing prices.
What is a Zestimate(R)? Again, from the site:
“ Zestimate
The Value Range is the high and low estimated market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table “
For people who are relocating to a new area, Zillow helps an out-of-town buyer understand neighborhood price points and values with this information available once they go home after a whirlwind trip into a new town to look for a home.
Anyhow, I guess it feels good to be an “All-Star!”
To get all the details you need with regard to septic systems and what’s necessary for you to do when selling your home, go to this handy website set up by King County and their Wastewater Management and Public Health Services Dept. There is also a section that will provide details on how to use and care for a septic system as well.
As a seller, you have responsibilities and paperwork that is required. As a buyer, you should be prepared to look for these details during your inspection process.
Agents should be familiar with this process as well, and if you (Mr. or Ms. Agent) aren’t, then you should do a little reading too.
Most septic (aka onsite sewage) systems are found in outlying areas of Puget Sound or in County controlled areas. If you aren’t in King County then you should check with your local county government website or contact the local county office for the info you need for your area.
Team Reba presents a new listing of a classic 1950’s style home in the Seward Park neighborhood of Seattle. It’s modern neighbor was featured in this past week’s Pacific Northwest Magazine in the Seattle Times which was built on land formerly a part of this dwelling’s land parcel.
Our listing has many sought after, yet hard to find, features such as: Two (2) Master bedrooms, Universal Design features, 2 kitchens (actually what could be 2 full living quarters and was previously used in this fashion), expansive views of Lake Washington in a serene setting, large lot, and environmentally conscious features such as broad overhangs for passive cooling, ceramic tile roof, and large windows for wonderful natural lighting. In addition to these features you’ll find numerous outdoor sitting areas, ample parking space besides a 2-car garage, and an elevator between the 2 floors.
See some of photos of this wonderful property below or check out all the photos at our slideshow:
Front of home with circular driveway which supplies excellent additional parking for guests. Here you can see the tile roof which is original to the structure. Roof products of this kind typically require a substantial structure to support their weight - this is a very solid home!
This view from the northeast corner of the home shows the layout of the walk-out daylight basement - the slope of the site allows for a very open and bright lower living area along with providing fantastic views of Lake Washington and Seward Park from both levels of the home. It also represents the true size of the home with its 4410 square feet of space.
Gleaming oak hardwoods flow throughout the main level spaces including the dining area, sunken living room, office, family room, kitchen, hall and the 3/4 bath. Deck and patio areas off each level allow for many entertaining opportunities.
Wood cabinetry, stainless appliances including double wall Viking ovens, 2 Miele dishwashers (for the serious entertainer) and tile countertop with a new cooktop in the main level kitchen. The large stainless refrigerator is just out of view to the left of the photo. Space is available for an eat-in kitchen and there are bountiful cabinets and pantry spaces. Note the glass case ahead for displaying favorite art pieces. Upper halogen lighting casts a beautiful glow on glass artworks.
The family room adjacent to the kitchen area enjoys the same magical views as the rest of the living areas and provides secondary access to the deck. This is also the area for entry to the 2-car garage. An alternate staircase passes between the garage and the lower level of the home to provide covered parking for each living space, if necessary.
To see the two master bedrooms, 2nd kitchen and other spaces of the home, please visit the slideshow which will have additional details about the house and its amenities.
Proudly offered at $1,410,000
Serious inquiries by pre-approved or qualified buyers only. NWMLS# 28131238.
So, recently I have had a client interested in a house that has a major problem with an attached garage and den - added after the original house was built. The problem with the garage and den is that it is impacted by a steep slope that has eroded part of the foundation beneath it and it is slowly beginning to slide down the hill. A geotech engineer’s report is included with the seller’s disclosure statement that spells out all the problems with this site and gives the engineer’s recommendations which include removing this portion of the structure completely.
Now, let’s take a look at what is the most likely scenario for a buyer wanting to purchase this house and the financing they might need to procure - if they don’t have all cash to buy it. My personal opinion is that since the garage and den are recommended for demolition and either rebuilding or just plain extinction that it is encumbent on the new borrower to give all this detail to a lender. Chances are, in today’s more risk averse lending climate, the building would qualify only for a construction or a rehab loan (perhaps the FHA 203(k) program) with the lender being given a detailed list of the problems and the plans for reconstruction - typically a timeline for completion is necessary for these and are limited to 6 months to 1 year.
My interested buyers currently have only looked at conventional loan packages so I directed them to inquire from their lender about these other options. I also emailed the listing agent to ask him if he had a lender that was aware of the problems and if they perhaps had a loan package that might suffice for purchase of the property.
Here is his reply with details of individuals/firms redacted:
Greetings,
I spoke with my lender, XXXXXX, at XXXXXX XXXXXXXX and she talked with
her underwriter who told her that as long as the appraiser didn’t mention
it, the lender would not be concerned about it.
We should have the cities approval on the new permit for the garage in the
next week or so if your clients are interested in building the new garage.
My clients have lived with it as it is since 1994 with no problems.
Let me know your thoughts.
This same agent told me that his clients had never lived in the property and that it had been a rental the entire time they owned it. So, yeah, I’ll bet they never had any problems with it.
Now, let’s take a look at the language that just came out from the NWMLS regarding the new law enacted in June 2008.
“Under some circumstances, omitting information about the property may be considered mortgage fraud. House Bill 2770, which became effective June 12, 2008, makes mortgage fraud a class B felony, punishable by confinement not to exceed ten years, or by a fine in an amount not to exceed $20,000, or by both confinement and a fine. Mortgage fraud has always been illegal, but the new law makes it clear that Washington lawmakers are increasing their efforts to punish those who perpetuate fraud.
What is considered mortgage fraud under House Bill 2770?
Section 9 of House Bill 2770 states that it is unlawful for any person, in connection with obtaining a residential mortgage loan to directly or indirectly: (1) defraud or materially mislead any lender or borrower; (2) knowingly make any misstatement, misrepresentation, or omission during the mortgage lending process knowing that it may be relied upon by a mortgage lender or borrower; or (3) use or facilitate the use of any misstatement, misrepresentation, or omission during the mortgage lending process with the intent that it be relied upon by a mortgage lender or borrower.
Section 10 of House Bill 2770 provides that any person who knowingly violates section 9 or who knowingly aids and abets in the violation of section 9 is guilty of a class B felony. ”
I don’t know about you - but I think that this might qualify if everyone just hopes that the appraiser misses the problem. Anyone else got a comment on what they think of the situation? I’ve told my clients to run, not walk, away from this one.
We recently went on market with a beautiful Murray Franklyn resale home out in the Snoqualmie Ridge area. It’s a lovely home with a sophisticated color palette. The home has 4 bedrooms (all with closet organizers), a gorgeous 5 piece master bath and walk in closet, 2.75 baths and a wonderful built in buffet in the dining room.
You’ll have plenty of room to spread out in this gorgeous home with numerous upgrades (listed below). With an office, media room and a fantastic great room you’ll have plenty of good times with friends & family. Get to know the members of your community by joining the local country club with a social or full golf membership. Rest easy in the large tub of the master bath - there are a total of 2.75 baths here. Great patio and yard for summer fun.
Below are a few photos for your perusal. You can find them all in a slideshow at this link.
The current homeowners had such nice taste in furniture we didn’t have to do too much for staging other than the usual decluttering and some color infusion. The house is only a few years old so it is in excellent condition and there are some nice upgrades like granite counters and accents, carpet, full house speaker wiring for multi-room music enjoyment, and much more. A list of upgrades is noted below:
Featured Upgrades
Premium Carpet, Tile Upgrades in all bathrooms, Granite countertops, and Tub Surround in Master Bathroom, Tile Countertop in additional Bathrooms, Tiled Fireplace in Family Room, Granite Countertops in the Kitchen, InstaHot Hot water in Kitchen, Pendant Lighting in Kitchen, Additional ceiling lights in Living Room, Granite Countertop Buffet with Wine Storage and Mirror in Dining Room, Rough In for ceiling Fans in All Bedrooms, Ceiling Fan in Family Room, Blower on FirePlace in Family Room, All Crown Molding, Sound System with indoor and outdoor speakers, Sprinkler System, Gas Line for BBQ, Rough in for Central Air, Closet Systems in 3 bedrooms, Upgraded closet racks in all bedrooms.
Because I write in several online forums I have to avoid duplicating the exact material from one blog to another. For those of you that have been getting into the online forums of communication you recognize that search engine optimization only occurs when you have original content and if you cut and paste your posts from online forum to additional sites you’ll end up getting yourself blacklisted by the bots and spiders that troll the web.
So, to keep myself from getting my, what I like to think are useful articles, blacklisted, I’m putting a link to one that I just wrote for my “other site” where I write regularly - Rain City Guide. In the post I list 9+ questions that consumers can use to help in interviewing a listing agent. These questions are applicable for any real estate market no matter where you are so please feel free to use them in your own market outside of the Seattle and Washington State area!
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