Olympia, Lacey, Tumwater, JBLM, Fort Lewis homes, and Greater Puget Sound Area Blog

Adult Children Living At Home Today

Vicki McLellan — Fri, 06 Jan 2012 19:29:00 GMT

Adult children living at home is one of the main reasons that Dave Liniger, founder of RE/MAX, cites for helping the housing market in 2012. Ordinarily 5 million adult children between 18 and 30 years of age, live at home with their parents. Of course this means 5 million adult children who may very well want to be not only living back on their own, but also taking advantage of great homes and housing prices in places like Lacey, Olympia, Tumwater, and areas around JBLM. At this point in our great recession, and in the current market, there are 29 million adult children at home. That's a lot of parents and children who would like to see the improving economy enable them to purchase a home. There has been a marked increase in real estate activity for the last several weeks. Low prices + low interest rates = a great time to buy (and perhaps an empty nest...again!) :-)

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Tips for Selling Your Home Today

Vicki McLellan — Sat, 03 Dec 2011 09:04:00 GMT

In our current market, there are several things you can do to increase the appeal of your home that is for sale.

Pricing - in addition to location, location, location, the next most important point is price. You may have added a new kitchen, remodeled a bathroom, and changed paint colors throughout the home, but if you are priced higher than the comparable homes in your area, buyers will look for the value in the home as much as the amenities.
Curb Appeal - many buyers drive by a home listed for sale before requesting a showing. Walk out in front of your home to the curb and take a good look. Does the home needs some fresh paint, trimmed bushes, or general maintenance such as mowing or in the winter --raked leaves or shoveled sidewalks? Appearances mean a great deal to a buyer and first impressions only happen one time.
Move in condition - it is important to look at the interior of the home for the little things. This means making sure that light switches, appliances, doors, plumbing fixtures, and cabinet drawers all work correctly and that they are consistent with local building codes. Small things may seem trivial but they give buyers the impression that the house isn't well maintained.
Consider adding value to your sale - you can make your home stand out from other similar homes by adding something of value to your sale. This can be as simple as offering a home warranty or leaving larger appliances such as washer/dryer and refrigerators.
Clutter - throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items, and store out of season clothing to make the closets appear bigger over packing them tightly. Consider the use of a storage unit for excess furniture in order to make the rooms appear spacious, over using the garage for storage.

Sometimes it is just the simple things that work to improve your home and create an overall impression of better value in the buyer's mind, which leads them to making an offer on your home, instead of your neightbor's down the street. This advice is as valid for Olympia homes, Lacey homes, and Tumwater homes, as it is in any other part of the country.

Vicki

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Home Sales Higher than a Year Ago

Vicki McLellan — Thu, 01 Dec 2011 19:36:00 GMT

According to the RE/MAX national housing report, which is a survey of 53 metro areas, October sales were up 9.0% from last year. Most real estate brokers will tell you that as we settle in for winter and the Christmas holidays, that the market slows down. The RE/MAX CEO commented that she believed home sales are in line with levels last year and will hold up through the winter months.

On a local perspective, your friendly RE/MAX and redballoonagent.com brokers have been observing an increase in buyers looking and making offers, and houses that are listed being sold. In fact, the activity is more like real estate in the spring than real estate from Thanksgiving to Christmas. Good prices, motivated sellers, and incredibly low interest rates are part of the market here in the Olympia, Lacey, Tumwater, JBLM, Fort Lewis, and Greater South Puget Sound area.

For more information about the RE/MAX national housing report, it is available on line by clicking here

Vicki

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Short Sales and You

Vicki McLellan — Sat, 12 Nov 2011 10:46:00 GMT

Short Sales have been in the news more and more, alongside the reports on foreclosures. So what exactly is a short sale?

In a short sale, the homeowner sells the house for less than the balance owed on the home, with bank approval. This is an attractive alternative to allowing a home to go to foreclosure. Short sales are still damaging to the homeowner's credit, but experts cite not nearly as much as a fully completed foreclosure. The banks know, statistically, that they lose between 30 and 50 percent on the selling price, once they take possession of the home through foreclosure. For the homeowner, a short sale is a way to get the best price for the home (and for the bank), while working to mitigate the impact on their credit. Here at RE/MAX, and servingwateam.com, we have expertise in helping homeowners through this process, which includes recommended consultations with real estate and tax law specialists --so a homeowner is well informed and reassured that their decision to make a short sale is a good one. There are many different aspects to the short sale process, which I can explain to you. The only way to go wrong, is to do nothing, so if you are facing financial difficulty, or are behind in payments, let our team help you navigate the short sale process in Olympia, Lacey, Tumwater, and the South Puget Sound area.

Of course if you are interested in buying a short sale, it is just as important to have an experienced agent on your side, who knows all about the short sale process.

Vicki

Redballoonagent.com

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Vicki's Real Estate Blogs

Vicki McLellan — Sat, 12 Nov 2011 10:20:00 GMT

You may notice several blogs started in November 2011. I am updating my blog here at redballoonagent.com with the blogging I have been doing at my alternate website, http://vicki.servingwateam.com

Both sites are excellent tools for you to use.

Vicki

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RE/MAX Videos Online and on TV

Vicki McLellan — Sat, 12 Nov 2011 10:11:00 GMT

On the lighter side of real estate, RE/MAX is known for coming up with some very humorous videos & commercials. Kick, where buyers sitting on the sidelines are humourously kicking themselves is one of the more entertaining videos online and for a while, on television as part of the RE/MAX commitment to be the industry leader. A more recent viral video is RE/MAX is Wack, which leads into a rap song about the benefits of working with a RE/MAX agent.

While the servingwateam.com agents may not perform a rap video, they will absolutely perform where it counts in Olympia, Lacey, Tumwater, and the South Puget Sound, helping you find the perfect home or helping you in selling your home. In cases where finances have become difficult, we can help you avoid foreclosure by guiding you through a short sale.

http://vicki.servingwateam.com

http://redballoonagent.com

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Home Buyers Love FHA Loans

Vicki McLellan — Sat, 12 Nov 2011 10:07:00 GMT

Home buyers love FHA loans, an institution that has been around since the 1930's. Basically, FHA insures loans, and this insurance helps reduce the risk lenders may face should the buyer default. Whether you are buying or are considering refinancing an existing home, the current rates are another positive aspect of an FHA loan, where rates have been observed to be hovering between 3.75% to 4.00%. The FHA allows for blemishes in credit history, for those who have had challenges in FICO, bankruptcy, or foreclosure. This coupled with competitive rates and current prices are another reason why home buyers love FHA in the Lacey and Olympia communities, as well as in communities near Joint Base Lewis McChord, which is bringing new buyers into the community every day. If you are contemplating getting off the sideline, start by contacting your friendly RE/MAX broker & by pre-qualifying through an excellent loan officer like the one here at servingwateam site.

Vicki

http://vicki.servingwateam.com

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Investing in Rental Real Estate

Vicki McLellan — Sat, 12 Nov 2011 10:06:00 GMT

If you have been thinking about investing in rental real estate, the low home prices, combined with low interest rates makes this an appealing time to buy. While it may appear to be simple to just buy and rent properties, it is important for the new investor to think about a few things. First, know your options and where you are intending to go. You can buy and hold, which is a longer term strategy --taking advantage of rental income paying for the property while it increases in value and you benefit from being the landlord/owner. You can buy and lease/option a property, which may be a mid term to longer range strategy depending upon whether the option to purchase is exercised. Finally, you can find a house to purchase and flip, which is typically viewed as a short range strategy. Simple, right? The right purchase at the right time, in the right location, in a condition consistent with your selected option, at the right price requires some knowledge and experience. First-time residential investors are encouraged to pair up with a real estate broker with knowledge and experience in this form of investing. Speaking from my developed experience, both as a broker involved in finding the right deal, as well as an owner of multi-unit rentals --this is a critical decision point, and can make the difference between success and failure. Here are some of the key points in making a decision to invest in rental real estate. Look for the right location, knowing that you'll be competing with others in the deal. Have your funding and financial planning lined up --this means consulting with lenders, investors, financial planners, and your accountant. Rental real estate has to be approached as a business, with a plan in place before you sign on the buyer's signature line. Plan for those individuals that you need to be successful...individuals who can assist with maintenance ranging from the simple (clean-ups and minor repairs) to the complex (plumbing & electrical). You may also want to have a tax & real estate attorney on your selected team or even consider using a property management company to rent and maintain your investment. While all investment types have their risks and benefits, real estate can be a nice addition to balanced strategy in investing. When you are ready to start investing in the Pacific Northwest from Tacoma to Olympia, please give me call.

Vicki

redballoonagent.com or http://vicki.servingwateam.com

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Is Now the Time to Buy a Home?

Vicki McLellan — Sat, 12 Nov 2011 09:54:00 GMT

Is now the time to buy a home? With interest rates remaining at historic lows & a portion of the Puget Sound region poised to rebound, many of the experts suggest that the answer to question is yes. According to Moody's economists, one of the communities ready for that rebound is Tacoma (and in my opinion, some of the surrounding areas). Tacoma is the second largest city in Washington, is close to Seattle and Joint Base Lewis McChord (JBLM). Home prices were cited as having fallen in the area, but given the diverse economy, location to available jobs, and the obvious impact of a deep-water international shipping port...the area is ready to recover. Buying when the prices are depressed sounds scary to many, but the old adage is buy low & sell high! Buying just makes sense when prices are low, and interest rates make more home affordable. Look at an example of how interest rates can impact how much home you can buy. You can try out a variety of available real estate calculators online and discover how much you can afford. A $200,000 home has the following payments (30 year fixed, principle & interest without including hazard insurance or mortgage insurance when applicable): 4% - $995 5% - $1074 6% - $1199 7% - $1330 As the market rebounds, so will the prices...a buyer's market now could become a seller's market quickly. If you are looking for a home and have been waiting, the answer is yes....let an experienced RE/MAX broker assist you in finding your next home. ~Vicki McLellan

redballoonagent.com or http://vicki.servingwateam.com/

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What is a Buyer's Agent?

Vicki McLellan — Sat, 12 Nov 2011 09:52:00 GMT

What is a Buyers Agent and why do you need one? A Buyer's Agent works only for the Buyer in a real estate transaction. The Listing Broker is contractually obligated to represent the Seller. They can write an offer for the Buyer but their first obligation will always be to the Seller. When you use a well qualified Buyer's Agent your interests become their interests and you benefit from their knowledge and expertise. Many people don't understand how important it is to have someone who works only for them in a real estate transaction. Most people wouldn't even consider having two or three attorneys, working for them independently of one another, to represent them in a lawsuit. Nor would they want the same attorney who represents the prosecution representing them as the defendant. In the same manner, it is not in a buyer's best interest to work with multiple agents in the process of purchasing a home. Roberta Kayne 2008, robertakayne.com. A Realtor, with whom you have established a mutually dedicated client relationship, will give their time, attention and expertise to help you secure the property you want, where you want it and in a price range that you have selected and can afford. So what is the cost? Most of the time Buyer's Agents are paid from the Listing Broker's commission so there is no additional cost to the Buyer. You have everything to gain and nothing to lose when you use a well-qualified Buyer's Agent. As a real estate professional and Accredited Buyers Representative, focusing on Olympia, Lacey, Tumwater, as well as Joint Base Lewis McChord (JBLM), Thurston County and the Greater Puget Sound area, I welcome the opportunity to speak with you about Buyer Representation and answer any questions

http://redballoonagent.com or http://vicki.servingwateam.com/

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