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Incredible Price, Beautiful View!

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Puget Sound View

WOW! Zero down & FREE closing costs with preferred lender & FHA & VA approved!

Unit 110 is a gorgeous VIEW Condo with fresh interiors & beautiful plush, Frieze carpets. Kitchen boasts tiled counters, dual sink, stainless appliances with built-in microwave. Designer paint, fireplace with tile surround and big white mantel. Huge bath with tiled counters & surround accessible from master bedroom and hallway. Really generous master bedroom includes walk-in closet.

Perfect for commuters! Seconds to I-5, 99 (Pacific Highway) & busline. One assigned parking, plus loads of guest parking; Covered carports available.

Get the 8,000 first time homebuyer tax credit. This is NOT a short sale or bank-owned property!

Three additional units are also available:

Unit 108, priced at $149,999, is also 2-bedrooms with a gorgeous view. Similar to unit 110, it features granite tile counters and stainless appliances in the kitchen.

Unit 107, priced at $137,500, is located on the front of the building and is just steps away from parking. It features a tiled kitchen and white appliances.

Unit 206 on the second floor, is a one bedroom unit with a VIEW priced amazingly at only $119,999! WOW! Tile counters and white appliances.

Call me @ 206.300.8421 to make an appointment to see all of these units — or your own agent, of course. Units are open most weekends from 1-5pm.

Courtesy of Lorene Bennet, RE/MAX Select R.E.

Will Short Sales FINALLY Become Reasonable?

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j0078820As a busy agent in the south King County area and down into the Tacoma/Puyallup Pierce County areas, I both list properties for Sellers and assist Buyers in finding their “dream home,” whether it be a first time purchase or a repeat purchase.

While definitely not unique to these geographic areas, price points and demographics of buyers and homeowners for these areas seem to especially target short sales and bank owned properties. Or maybe it’s just the clients with whom I’ve worked over the last few months. Sellers need to sell–usually as quickly as possible–and Buyers just want to move in.

In any event, short sales have been a problem. It seems as though it’s nearly impossible to get bank approval in anything less than 120 days … and then IF we get approval, the banks want us to close the transaction in no more than 30 days, another feat that’s becoming more and more difficult.

Back in May, 2009, President Obama indicated that he was pushing forward legislation that would drastically change the method and bank requirements by which short sales would be approved. This was aimed at shortening the time the banks would have to approve such transactions, along with helping a distressed seller by eliminating the “pay back the difference to the lender” clause that has been a real sticking point.

FINALLY, on Monday Reuters reported that the Treasury Department has now set guidelines to simplify short sales. I can’t tell you how excited “I” will be when this finally happens. And when the Banks step up and get their own internal procedures in place to accommodate these new guidelines.

I’m maintaining an “I’ll believe it when I see it” attitude. It’ll be cause for rejoicing!!

AR Gay Sig

Just for Fun — 50 Strange Buildings

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wurm houseSome time ago I stumbled on a quirky little site, Random Web Site , that specializes in taking one to random sites, usually obscure. It’s a fun timewaster, but, of course, one has to be careful not to get too sidetracked (you know … that NEVER happens to me!) And, as you can imagine, browsing the Web at random sometimes leads one to the oddest things.

Now, before showing you these goofy buildings, you must know that I’m a pushover for houses and architecture. I mean, you know me! Always up to go see the newest subdivision, the biggest home show, the best in designer home tours!

Random Web site took me to see Village of Joy this morning! This fun and crazy Web site specializes is a very different look at buildings! What a step away from the usual mix of staid, ho-hum architecture!

So … without further adieu, visit Village of Joy’s 50 Strange Buildings of the World! Oh Yes! And while you’re there, visit their other links — I thought their 50 Weird and Crazy Cars post was a hoot too!

AR Gay Sig

5-Acre Mini-Ranch

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P1010358
Sale Pending!

Got horses, goats, alpacas, mini-beef?

Close to Auburn, Lake Tapps and city commuting, this five-acre mini-ranch is the best value in the neighborhood and perfect for your equestrian or other animal pastimes.

From the moment you enter the property through the remote-controlled gate, you’ll both be charmed by the thoughtful touches surrounding the house itself, and completely impressed by the two huge shops! There’s way too much to describe here, but consider that the flower beds are surrounded by poured concrete edges, there are numerous little water features, the house is surrounded by a walk-around deck, and entered through a wonderful covered porch. Step inside to a sun-lit entry (complete with a sun-tube), and then on to the generous formal living room/dining room combination, and a family room with a free-standing woodburning stove.

This home was well loved and it shows. Set up as a warm haven after working out on your own five-acre parcel, you’ll appreciate all the little touches that make this it truly a home. As you come in from the back into the mudroom, you’ll find plenty of places to stash the boots, even a built in window seat with storage. The kitchen is well appointed with new(er) black appliances and loads of cabinets.

The master bedroom has a huge walk-in closet complete with loads of wire shelves & storage units, and a five-piece bath with tiled double-sink vanity and soaking tub. The 2nd bedroom is just off the family room and also has private access to the 2nd full bathroom.

Outside are five fenced and cross-fenced, hot-wired acres plus two shops, RV-size carport, barn with hayloft, 2-horse (only one stall) loafing shed, well house, a fish pond, your own private well and septic system.

P1010272Barn measures 42′ x 50′

Hayloft 11′ x 50′

Five stalls (four with outside gates) with concrete pads

Three additional rooms on opposite side of stalls. Corner room is plumbed with utility sink

Extended covered storage on back and sides

1st shop

1st Shop as you enter the property

42′ x 24′, plus 12′ x 24′ attached carport, all with concrete floors

2 rollup doors with openers, plus one sliding door

Shop/storage room at one end

Pull-down ladder to additional loft storage

Insulated, 220V

2nd shop angle

2nd Shop, behind the house

36′ x 24′, plus shop bay

Insulated, 220V

Concrete floors throughout, plus parking pad

2 rollup doors & sliding door & barn doors

Edged by large kennel

 

Don’t You Love to Color?

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color butterfly

While working with some delightful clients a while back, I had a chance to interact with their two young daughters, Katy & Sarah. We let their Mom & Dad plow through some paperwork while we colored pictures and talked about playing on the computer.

Inspired, I decided to see what I could find that might be fun for them next time we had a chance to play! These sites look like SO much fun! 

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              • coloring.com   Oh this site is FUN with simple designs for the younger crowd! Click on a page to go to electronic coloring!
              • thekidzpage.com  This is  a flashy site with busy ads for all sorts of things for kids. The printable coloring pages are worth it though!
              • learn about the weather color pages by NOAA   Downloadable stories you can color about different types of weather … think Tornados, Thunderstorms, Snow!
              • color book links  WOW, this site contains links to tons of other sites that have .pdf  downloadable coloring pages! PERFECT!
              • Dover Publications  I get updates from Dover Publications periodically that show off their newest books. Most of them have sketch pages that can be downloaded and then colored. These are generally the high-end adult-type coloring pages for those of us that enjoy coloring with markers with lots of detail. Brings out the “kid” in all of us!
              • National Institute of Environmental Health  Okay, another site where the youngest of us can learn a bit about environment responsibility … these are fun pages that can also be colored online.
              • Crayola.com  Of course there has to be a page with a nod to our favorite crayons, right?

Okay, just one more … apparently there are hundreds of these sites. Who knew?

  • Coloring Pages for Kids  So here’s a resource references what looks like hundreds of other sites containing coloring pages. Have fun!

AR Gay Sig

8 Requirements for the New Homebuyer Tax Credit, Effective NOW!

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dont twiddle thumbsOkay all you first time homebuyers, you’ve been given a second chance! The Homebuyer Tax Credit passed and was signed into effect on Friday, November 6th! What GREAT news!

And it gets even better! Not only do first time homebuyers benefit from the tax credit … to the tune of $8,000! … any homebuyer could potentially benefit, up to $6,500!

Here are some of the highlights. Of course you’ll want to verify this information with your own accountant; as with most bills of this sort it’s many pages long and there are requirements that must be precisely met.

  1. A first time homebuyer is one that has not owned a home for at least three years.
  2. To qualify, a repeat homebuyer, must have owned their current home for at least five consecutive years out of the last eight years. So … imagine that you owned a home for at least five years, but sold it and have now been renting for the last two years. You qualify.
  3. If you’re a single person, you cannot earn more than $125,000; if you’re married, you can earn up to $250,000.
  4. You must be in a contract to purchase your new home on or before April 30th … but you have until June 30th to close the transaction.
  5. There’s no lag between the old deadline (November 30th) and the beginning of the new period … it’s as if the November 30th deadline never existed. The new deadline is April 30th (see #4).
  6. The maximum purchase price for your new home is $800,000.
  7. Your new house does not have to cost more than your last house. It’s okay to downsize!
  8. Oh yes! And as a measure to prevent fraud, you’ll have to attach proof of purchase to your tax return in order to qualify. I haven’t read the entire Bill, but I would anticipate that a copy of your final HUD (closing) statement will probably suffice. But do ask your tax accountant. They’ll know.

SO, Congratulations. Now, don’t twiddle your thumbs and let this run out AGAIN! Call me and let’s get shopping!!

AR Gay Sig

Not Buying? You’ll Still Benefit From the Home Buyer Tax Credit!

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pay with credit cardSince the beginning of 2009, first time homebuyers have benefited from an $8,000 gift directly from Uncle Sam. Qualifying for the gift was easy and thousands of people benefited.

As I write this, plans are in place to extend and modify the tax credit into next Spring (thank heavens), which will continue to help economic recovery for more folks than just those stepping up to purchase a home.

I’ve been amazed while hearing our various elected officials and economists speak shortsightedly, in my opinion, about why the tax credit should not be extended, nor should have been in place to begin with. I absolutely agree that the tax credit has a huge price tag. However, let’s think very briefly about what that tax credit is actually buying.

Just help buying a house? Hardly!

Think back to your last move, whether it was a house, an apartment, back to mom’s, wherever. What was the first thing you did? I can tell you what I did … picked up my wallet and headed straight to the store. I needed STUFF — boxes, moving supplies, shelf liner, paint, curtains, towels, furniture — STUFF!

That’s where the money goes. Not just in a pocket or frankly, not just back in a savings account. Is $8,000 too much? Did I buy $8,000 worth of stuff? Oh yes. And much more. Had I been given the $8,000 as a gift from my last move, my house credit card might not have been maxed out!

Homebuyer’s Tax Credit Has NOT Yet Passed — Not Quite!

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As I write this at 4:45 PDT, our local news station, along with several lenders and title companies are reporting that the Homebuyer’s Tax Credit has passed and will be extended to April 2010.

While that’s GREAT news, it’s not quite right yet, from what I can see.

Looks like the Senate has agreed to pass a resolution that would extend the $8,000 tax credit to First Time Homebuyers, a $6,500 tax credit for repeat homebuyers, both with qualifying issues.

However, a vote hasn’t actually taken place that passes the resolution as a stand-alone bill. At the moment, it’s hung up on the premise that it’ll be tagged onto legislation to extend unemployment benefits, although it appears that it’ll pass the Senate even as a stand-alone bill.

Read more at my favorite site: Reuters.

I’m holding off the celebration until it’s signed around! And I’ll be the first to let you know — that way we can ALL celebrate!AR Gay Sig

Senate Activity on Extending the $8k Tax Credit

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j0382678Like almost everyone I know that works in the housing industry, I’ve been chasing myself around for the last few weeks trying to get all of the First Time Homebuyers in my client list qualified and under contract so that they were eligible for the $8,000 tax credit … due to expire on November 30th. It’s been a wild ride, full of both elation and disappointment!

And, of course, absolutely full of the question “Will it be extended?”

I’ve been diligently trying to follow along with activities in the legislature while listening to other opinions about why it will and why it won’t and who thinks it’s a great idea and who thinks it’ll continue to bankrupt us all.

Reuters is one of my favorite places to find quality news feeds–in this case current activity on extending the $8,000 tax credit for homebuyers.

Yesterday, Reuters reported that Bill Nelson (Dem.) of the Senate Finance Committee indicated that the Senate would act this week on the tax credit and that it would likely be extended for a “limited” period.

Then the stock market reacted negatively later in the day to a report that it would not be.

This morning, Reuters posted another story complete with Q&A about another proposal being floated through the Senate by Senate Majority Leader Harry Reid, a Nevada Democrat, and Senate Finance Committee Chairman Max Baucus, a Montana Democrat. In their scenario, the credit would be extended to the end of 2010, but would be phased out in $2,000 decreases beginning in April, then again in July and in October.

Now, at the moment, I kinda like this proposal. And I like the idea that it carries into the Spring, where house purchases and sales tend to begin rallying all by themselves.

bd06916_My only issue with their proposal is that it’s being attached to the passage of another bill for unemployment insurance benefits. Sigh. Seems like it’d be so much easier to keep track of things if each expenditure had to stand on its own.

I’m sure tomorrow there’ll be yet more ups and downs about whether the $8,000 tax credit will be extended, or buried. Passage will be cause for celebration, in my opinion. Of course, then the bill will need to go on to the House, where, no doubt, it’ll be changed yet again. Back and forth.

Just my 2¢ worth!

 

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Don’t Move Money Around

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money bagI sometimes hear frustration from buyers who are being asked to produce the papertrail that supports the source of the  money being used for the downpayment and closing costs. The underwriter (the person that issues final approval for your loan) requires this information as one method of eliminating the possiblity of fraud, to meet the requirements of investors with whom they work, and for quality control. They’re just doing their job, but sometimes meeting this requirement is difficult and tedious.

You may have  been diligently consolidating money from various accounts so that it’s easier to manage, but this can actually cause more loan approval challenges.

During the time you’re working on purchasing a home, or at least for the prior three months or so, don’t move money around unnecessarily. The underwriter will require documentation of any large deposits or withdrawals from your account. This could include money you received as gifts, from transferring funds between accounts, investment liquidations, cashing out mutual funds, retirement funds, or whatever. You may be asked for copies of cancelled checks, deposit receipts, or other supporting documents that may see inconsequential.

If you’re relying on gift monies that will be used in your purchase in any fashion, you’ll likely also be required to produce a letter from the person giving you the money that documents the fact that you are not required to repay the gift. In fact, the person from whom you’re receiving the money may also need to produce copies of bank statements, etc., that documents where they received your gift money.

In fact, this is also not the best time to be changing banks, or even opening new accounts.

Don’t move your money around … or if you do, be absolutely certain you can document everything thoroughly.

AR Gay Sig