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Tacoma Side Sewers a Bedtime Story

Tuesday, July 20th, 2010

Effective October 1st. 2010 the City of Tacoma will begin to require a side sewer inspection for all homes sold in the city limits of Tacoma. It is only July why do you care? Why do I care? Let me tell you a little story….

I have a client who is getting ready to bring a home on the market. The home is part of an estate so very little is known about the home. My seller is a very thoughtful person and wants to make sure that the basic systems in the house are functioning as they should be. She called a company that was offering a free sewer line inspection. Free as long as there is an easily accessible clean out opening. Free as long as you do not want the DVD of the inspection. (The city of Tacoma requires the DVD to review the inspection) Almost $500 dollars later my seller is told that the side sewer is in need of repair. Almost $8,000 worth of repair. My seller is collecting additional bids and will have the work completed as she feels it is important. Now that we know the sewer line is broken it is material fact so this is a good thing to have done.

Here are some take away items from this little story.

  • Side sewer inspections will be expensive for the seller to have done
  • Sewer repairs are not going to be inexpensive to have repaired.
  • Waiting until the last minute will cause your home sale to take longer to close.
  • Buyers will be nervous that if the sewer line is broken what else is?
  • Lenders are going to be requiring the work to be completed and then they will most likely want to make sure the work is done prior to releasing the funds.
  • In Tacoma we now have another hurdle to get over to close on sales.

I am leaving out short sales, and REO’s. Who will pay for this if there is no money to pay for the inspection or repairs?

Just helping get you ready for buying and selling homes in Tacoma. Being prepared will help you make the best decisions. Get things taken care of prior to bringing your home on the market. Buyers knowledge is power too!

When you are ready to buy or sell a home in Tacoma please give me a call. Together we can put together a plan to help insure the success of your purchase or sale. I can be reached at (253) 219-1194

Posted in Buying a Home, Selling a Home, Tacoma | 1 Response »

Perhaps the Closing Date For the $8,000 Tax Credit Has Been Extended

Wednesday, June 30th, 2010

It’s official…. the tax credit has been extended…..will this be the last time?…..Like a bad comedy skit we will not know until it’s over.

Update to the update… We are waiting on the Presidents signature to extend the closing date until September 30th.  For more information.

Update- Went to press too soon…nothing has been decided for certain. In the meantime watch the video and get a laugh….

Like a bad TV skit the government simply cannot close the doors on the tax credit. If you were under contract prior to April 30th. 2010 you now have more time to close your transaction. Extended to September 30th. 2010. Or…… perhaps this video give you a better idea.

I hope you enjoyed the clip from Almost Live a comedy show from Seattle during the 1980′s…

Also, I wish I could take credit for finding the clip and using it in this context but my friend Don Reedy in San Diego posted this on Bloodhound Blog yesterday. I simply am copying Don. If you need a Realtor® in San Diego with a great sense of humor and some seriously sharp business skills give Don a shout!

Posted in Buying a Home | 1 Response »

Are you thinking of buying a home in Tacoma this year?

Sunday, June 27th, 2010

Thinking of buying a home in Tacoma this year? The summer buying season is upon us and the inventory is beginning to drop a bit. I am not saying that we are having a full on buying spree. I am saying that homes that are ready to sell, priced to sell and have the features that people are looking for are selling.

Homeowners have an advantage over the short sale, bank owned, foreclosures if they will take the time to make their home presentable and desirable. I have shown so many short sales and bank owned properties in Tacoma in recent weeks and the quality of homes is terrible! Homeowners you need to realize that you can shine compared to the junk if you take the time to clean up your home prior to sale.

Potential homebuyers you can do a couple of things to set yourself apart. Get pre-approved before you go shopping! If I write an offer for a buyer that has the financing already in place you come to the offer with a big S on your chest and a red cape You will be Superman! Also, be organized have your home inspector ready to work for you. Know what you want and what you can afford. Then we can go out and find you a great deal on a home. We might find the owner occupied gem that you’ve been wanting. We might find the bank owned fixer that will give you equity when you finish the repairs. No matter what you decide the buying season is happening and I hope to see soon.

When you’re ready for a Realtor® who cares about the outcome of your transaction. Give a call. (253) 219-1194 we are looking forward to working together with you to buy or sell your next home in Tacoma.

Posted in Buying a Home, Ramblings | No Responses »

Tax Credit for Homeowners Closing Dates Extended; Not So Fast…..

Thursday, June 17th, 2010

Many people are shouting that the tax credit has been extended…the tax credit has been extended!! this is not completely accurate.

The tax credit will only be extended for closing your transaction if you were already under contract by the April 30th. end of the tax credit.

To qualify for the tax credit you had to be under contract BY April 30th. 2010 and close the transaction BY June 30th. 2010. The only thing that will be extended is the date for you to close your purchase. Congress has not signed the extension into law as of today. We will update you when it is extended.

The extension does not help you if you are  NOW looking for, or thinking of buying a home in Tacoma or anywhere else in the country. There still are many other programs to assist first time homebuyer’s purchase homes. Please look at our site and read our posts to learn more about the programs that are available.

When you’re ready to talk about buying a home we are ready to listen. Give us a call (253) 219-1194

Posted in Buying a Home, Lending, Ramblings | 1 Response »

What do You Look For When Buying a Home?

Wednesday, June 16th, 2010

I have a question for the readers of this blog. What do you look for when you are thinking of buying a home?

I sell homes in and around Tacoma that much should be obvious if you are visiting my blog. I know what I do to find potential clients who can benefit from my services. I know what works and what does not work when it comes to finding clients. What I need to learn now is what do you look for when you are going to buy a house?

What is it that helps you to “know” when you’ve found a place you want to call home? When you are just looking do you search the Internet to look at homes for sale? Do you use a search engine and type in phrases like Buying a home in Tacoma or Homes for Sale in Tacoma. Feel free to insert the area that you are actually looking at for Tacoma in your responses. What is it that you are looking for from the big machine that sends your answers back to you?

One of the nagging questions I am looking for help with is when do you decide to work with a Realtor®? At what point during your search to you want professional assistance? What value to you expect your agent to bring to the table? You can go to dozens of websites and see every agent in Tacoma or any other city tell you that they are the best to help you buy or sell your home. What cuts through the white noise? What makes you pick up the phone, send email, or visit the office of the agent you decide you want to find out more about?

You can search here to see all of the homes for sale in Tacoma Washington. You can search a lot of places to find homes for sale. You can find out a lot about borrowing money to buy a home in Tacoma here. You can find a lot of information on just about everything related to buying home online. What I want to know is what do YOU want to help you look for a home? If you can clearly answer that question  then you will find that when you’re ready to buy a home you will have a much easier time. By sharing your answers  you can help me to be the best Realtor® I can be. Together we can help one another.

So, What do you look for when buying a home?

Posted in Buying a Home, Tacoma | 5 Responses »

USDA Washington State 2010 Income Levels Have Changed

Thursday, June 10th, 2010

The USDA has announced some changes to the 2010 Washington State Income Levels to qualify for 100% zero down USDA financing.

Take a look at table below to see what the income levels for where you live have been adjusted to. Income levels in Pierce County is now at $80,050 for a family up to 4 people. The income level is a very doable level for many of the homes located in Pierce County.

If you’re considering buying a home in Pierce County and you are not considering buying within the City Limits of Tacoma you might just find USDA financing a very valuable way to help your family get into a home this year.

When you are ready to talk about buying a home in Pierce County call (253) 219-1194 and we can setup a time to meet and discuss your options. As a Realtor® it is important that I keep up to date on both our local real estate market and on the various financing options. Just as no Realtor® is a perfect fit for every client; not every lender is a perfect fit. Working together we can find the best fit for you and your needs when it comes to buying a home in Pierce County using USDA financing or another type of financing.

County

 1-4 person household 5-8 person household
Benton, Franklin

$74,750

$98,650
Kitsap, Thurston

$82,650

$109,100
Island

$89,550

$118,200
King, Snohomish

$92,600

$122,250
Clark, Skamania

$81,850

$108,050
Pierce

$80,050

$105,650
San Juan

$78,050

$103,050
All other Counties

Adams, Asotin, Chelan, Clallam, Columbia, Cowlitz, Douglas, Ferry, Garfield, Grant, Grays Harbor, Jefferson, Kittitas, Klickitat, Lewis, Lincoln, Mason, Okanogan, Pacific, Pend O’Reille, Skagit, Spokane, Stevens, Wahkiakum, Walla Walla, Whatcom, Whitman, and Yakima

$74,050

$97,750

Posted in Buying a Home, Lending, Puget Sound, USDA Financing | No Responses »

USDA Loans Show Me an Example of What We Can Buy

Thursday, May 20th, 2010

I was chatting with a friend the other day about USDA loans and she mentioned that she thought that USDA loans were for farm houses and things way out in the “sticks” I explained to her that her concept of USDA loans was a bit off.

Yes you have to be purchasing a home in a “rural area” but rural is a term that our government uses a bit differently. In Pierce County Washington much of the county is considered rural. That means that towns like Gig Harbor, Graham, Bonney Lake, Roy, McKenna, DuPont and many more are considered rural. You can find more information on Pierce County USDA eligibility by reading our other articles here on Classic Homes Northwest.

More on USDA Loans in Pierce County.

Update on congressional extending the funding for the 2010 fiscal year.

Here are two listings we have right now that are located within USDA boundaries. One is located on Anderson Island Offered at $259,000 with a great view of East Oro Bay.Membership in the Riviera Country Club is included in the annual homeowners dues as is your water.Learn more about Anderson Island here. The other is in Scenic Shores by Lake Lawrence. Anderson Island is a remote quiet island in the Puget Sound but it a great place to get away for a weekend etc. If you are a first time buyer and you are looking for an affordable home then you should take a look at Anderson Island. The home for sale at Lake Lawrence is offered at $209,000 and allows you to use the facilities at Lake Lawrence with your HOA dues. Close to Ft. Lewis, Olympia, Yelm, and a 30 minute drive to Tacoma. This 3 bedroom home could be yours for what most of us pay in rent each month. For more information on this house we have lots more here.

As you can see both of these homes are not farm houses and they are not on dirt roads. USDA loans can help you if you are looking at homes in the areas outside of the main core of Pierce County and the City of Tacoma.

When you’re ready to learn more about USDA loans and how they can help you take advantage of the current interest rates and property values we will be happy to introduce you to a lender who can walk you through the process.

If you would like a list of USDA eligible homes in Pierce County please fill out the contact form on the right side of the blog. We will send out a list of currently available homes to you. If you’re ready to talk so are we. Give us a call at 253-219-1194 today.

Posted in Buying a Home, Lending, Puget Sound, USDA Financing | 1 Response »

USDA Financing Fiscal Year 2010 Funds Running Out. Conditional Commitments Will be Issued

Wednesday, May 12th, 2010

As we have reported here in previous articles the USDA is running out of funds for the fiscal year 2010. The announcement today that the USDA will issue conditional commitments for Section 502 Single Family Housing Guaranteed Loans after the funds have been exhausted is potential good news for home buyers in Pierce County or anywhere that it is possible to use USDA financing. Your USDA approved lender can continue to process completed loan requests, receive conditional commitments, and close loans.

There is a change to the USDA financing the “Guarantee Fee” is increasing to 3.5% for purchase loan and it is increasing to 2.25 for refinance loans. The cost of getting a USDA loan has just increased. The borrower can still put zero down but will have the guarantee fee wrapped into the total loan. In a very simple example if you were to buy a 100,000$ home the initial loan amount would be 103,500$

While the cost of borrowing money using USDA financing has gone up the news that funds will continue to be available is good news for home buyers. When you are ready to begin looking for your home we hope you will give us a call so we can help you through the process of making a great decision. We work with multiple approved USDA lenders and we can help match you with a lender who will work hard for you to get the best possible financing. We then will work hard for you to find the best home and the best deal. We’re here when you’re ready.

Posted in Buying a Home, Lending, Puget Sound, USDA Financing | 3 Responses »

April 2010 Pierce County Median Home Price $215,000

Wednesday, May 5th, 2010

Sales volume appears to be moving upward according to numbers released for April 2010 home sales. 7,368 homes had mutually accepted offers in April 2010 in the four county Puget Sound region. The highest volume since August 2006

Was this due to the tax credit?

In my opinion yes the number have been inflated by the tax credit and it will be interesting to see what May’s number look like. However, interest rates are still very low. Employment numbers while not fantastic are beginning to show signs of stabilizing and in some areas improvement. The Puget Sound region should be able to begin the recovery process. Is this time to be excited no, not at all. It is time however to consider your individual housing requirements. If buying a home makes sense at this time you will have a number of other factors that appear to be in your favor as well.

Posted in Buying a Home, Puget Sound, Ramblings | 1 Response »

Home Buyers Still do More Research on Buying a Car Than on Buying a Home

Friday, April 30th, 2010

I Received an article today from the Business Examiner that states that people buying homes still spend more time researching their car purchases than they do researching the terms of their home loans. According to the article (linked to here)  many people only spend FIVE hours researching the financing for the largest purchase they will ever make.

This information while not shocking is disturbing to me. Selling homes is what I do for a living and one of the biggest parts of the process of buying a home is the financing. There are so many options and variables in obtaining a home loan that for a family to not be concerned about obtaining the best loan for their situation seems to be amazingly short sighted.

Many of the search terms that people use to land on Classic Homes Northwest have to do with financing. I receive many inquiries as to “what the best loan type for me? ” I am not a lender and I encourage everyone who asks this type of question to ask the very question to a quality lender. The funny thing is how few people actually take the time to do this.

Why do people put such little effort into this part of buying a home? Please if you have an opinion on this share it with us here so we can have a conversation about this.

Posted in Buying a Home, Ramblings | 1 Response »

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