This morning (Saturday, 1/16) from 10A-1P, I will be holding open a new construction home just blocks from Alki Beach. The address is 3021 63rd Av SW. 3 bedrooms, 2.5 baths, 1341 square feet of living space, off-street parking. List price: $469,950
Then, on Sunday, from 1-4P, I will be holding open a brand new construction townhome at 2817 62nd Av SW, also just blocks from Alki Beach. 3 bedrooms, 2.25 baths, 1205 sqare feet of living space, off-street parking. List price: $418,950
Come see me!
Single adults face unique challenges when buying and selling a home. I know because I've done it myself, & a significant portion of my clients are single. This blog provides news & information you need to help you achieve your real estate goals. Alice Kuder, REALTOR®, Green. Prudential Northwest Realty Associates, Seattle, WA
Saturday, January 16, 2010
Friday, January 15, 2010
A Perfect Storm for Homebuyers!
Real Estate Weather Alert! The combination of LOW LOAN RATES, LARGE INVENTORY of homes, and a federal TAX CREDIT has created a Perfect Storm for potential home buyers!
If you anticipate buying a home in the next 6-12 months, DON'T WAIT!
Here's why:
1) Interest rates are at generational lows that greatly improve the affordability of homes. Interest rates are bound to rise, and most experts predict that it will happen sooner rather than later. A difference of just 1% (e.g. 5% vs. 6%) on the loan rate for a $400,ooo home can cost you over $250/month. Not so much, you say? Over the course of a 30 year loan, that translates into an additional $90,330!
Put another way, if you can afford a $300,000 house at 5%, you will only qualify for a loan of approximately $270,000 at 6%. That might translate into one less bedroom or no garage or no updates to the home.
2) High inventory of homes. We are currently in a "buyer's market." That means there are more sellers than there are buyers, so by the economic law of "supply and demand", buyers have the upper hand. This has contributed to a decrease in home prices and more bargaining power for buyers. In other words, there are many wonderful and affordable homes on the market from which to choose.
3) In an effort to stimulate the economy, the federal government is offering homebuyers a tax incentive. Most first-time home buyers (anyone who hasn't owned a home in the past 3 years) are eligible for an $8,000 tax credit and current homeowners may receive up to $6,500. That is a tax CREDIT, not a tax deduction. The difference is that a tax credit is directly deducted from the amount of tax you owe at the end of the year. If, for example, you owe $7,000 when you file, you would only need to pay $500! If you don't owe any income tax, you would receive a check back from the government for up to $8,000! (Please give me a call for more details on restrictions, but they really are minimal.) BUT THIS CREDIT ENDS APRIL 30, 2010.
So there you have it! A Perfect Storm for home buyers from now until April 30th. Give me a call at 206-708-9800 and ask me how I can help you take advantage of it.
If you anticipate buying a home in the next 6-12 months, DON'T WAIT!
Here's why:
1) Interest rates are at generational lows that greatly improve the affordability of homes. Interest rates are bound to rise, and most experts predict that it will happen sooner rather than later. A difference of just 1% (e.g. 5% vs. 6%) on the loan rate for a $400,ooo home can cost you over $250/month. Not so much, you say? Over the course of a 30 year loan, that translates into an additional $90,330!
Put another way, if you can afford a $300,000 house at 5%, you will only qualify for a loan of approximately $270,000 at 6%. That might translate into one less bedroom or no garage or no updates to the home.
2) High inventory of homes. We are currently in a "buyer's market." That means there are more sellers than there are buyers, so by the economic law of "supply and demand", buyers have the upper hand. This has contributed to a decrease in home prices and more bargaining power for buyers. In other words, there are many wonderful and affordable homes on the market from which to choose.
3) In an effort to stimulate the economy, the federal government is offering homebuyers a tax incentive. Most first-time home buyers (anyone who hasn't owned a home in the past 3 years) are eligible for an $8,000 tax credit and current homeowners may receive up to $6,500. That is a tax CREDIT, not a tax deduction. The difference is that a tax credit is directly deducted from the amount of tax you owe at the end of the year. If, for example, you owe $7,000 when you file, you would only need to pay $500! If you don't owe any income tax, you would receive a check back from the government for up to $8,000! (Please give me a call for more details on restrictions, but they really are minimal.) BUT THIS CREDIT ENDS APRIL 30, 2010.
So there you have it! A Perfect Storm for home buyers from now until April 30th. Give me a call at 206-708-9800 and ask me how I can help you take advantage of it.
Current mortgage loan rates
Mortgage loan rates stayed about the same this week as last week. They are still looking very good, but this can't last forever. If you are thinking of buying a home, it doesn't get any better than this!
Troy Chambers, loan officer for Arboretum Mortgage, kindly provides the weekely update in the link below. Troy invites you to, "Please call with any questions or concerns you may have, as I am always available.
My direct cell number is 425-418-5103"
Table of loan rates.
Troy Chambers, loan officer for Arboretum Mortgage, kindly provides the weekely update in the link below. Troy invites you to, "Please call with any questions or concerns you may have, as I am always available.
My direct cell number is 425-418-5103"
Table of loan rates.
Wednesday, January 13, 2010
Should you hire a home inspector if you're not moving?
Not Moving? A professional home inspection might be a good idea anyway.
So you’ve been in your home for years and you plan to stay there for quite a few more. You have no need for a professional home inspection, right? Well, maybe, but consider this. As your home ages and you become comfortable in your surroundings, it’s easy to let maintenance of the big ticket items slide a bit. e.g. How old IS the hot water tank now? Is the foundation holding up? Is the electrical system still adequate for our needs?
So you’ve been in your home for years and you plan to stay there for quite a few more. You have no need for a professional home inspection, right? Well, maybe, but consider this. As your home ages and you become comfortable in your surroundings, it’s easy to let maintenance of the big ticket items slide a bit. e.g. How old IS the hot water tank now? Is the foundation holding up? Is the electrical system still adequate for our needs?
Here are some questions to ask if you decide you want to hire an inspector, as well as a list of inspectors who are members of Western Washington ASHI (American Society of Home Inspectors):
1. Do you have a current Washington State Home Inspector License? (If not, stop the interview.)
2. Are you a member of the American Society of Home Inspectors or the National Association of Home Inspectors?
3. How many inspections of similar properties do you do each year? References?
4. What specifically will the inspection cover? What is excluded?
5. Do you carry errors & omissions insurance? Do you guarantee your work?
6. What type of report will I receive after the inspection?
7. How long will the inspection take & how soon will I receive the report?
8. How much will the inspection cost? Do you offer any discounts?
Questions about this topic? Give me a call. 206-708-9800.
Tuesday, January 12, 2010
Need to rent?
Did you know that the Multiple Listing Service also lists homes to rent with no fee to the renter? Give me a call today for more information or assistance. 206-708-9800.
Monday, January 11, 2010
Thinking of buying a home on your own?
Buying or selling a home can be a daunting task no matter what your circumstances. But if you are single, with or without kids, it's easy to imagine feeling overwhelmed.
Being a Realtor who has personally experienced buying a home on my own, I am well qualified to help you navigate the real estate byways. I provide a number of tools and resources that are particularly helpful for individuals buying and/or selling a home on their own.
Here are a few examples:
> Free, one-on-one consultation: No pressure, no obligation. You and I sit down together for 15 or 20 minutes to examine your options and determine your best "next steps", even if it turns out to be renting.
> Lifestyle Questionnaire: designed to help you identify your homeownership preferences and priorities.
> "Express" Homebuyer Workshop: a 2-hr., information-packed seminar for individuals and small groups, designed to answer all your questions, however basic or advanced, and set you on the fast track to home ownership. > "Express" Homeseller Workshop: same as above except directed toward sellers.
> "One-Click" Small Home Search: I have created four separate searches for various parts of Seattle. One click will produce a list of all Active Listings of small homes in any given geographic area. The link provided here is for small homes in West Seattle. > Single Homebuyers' Network: an opportunity to meet (either in person or online) with other individuals who are considering/experiencing the homebuying process. This is a new offering, still in the conceptual stages, so you can help shape its future.
> Downpayment Assistance information: the State of Washington sponsors several programs designed to help you buy a home, including help with the downpayment.
These resources will help make the process of buying a home much easier than you thought possible. Call me today to get started. 206-708-9800
Being a Realtor who has personally experienced buying a home on my own, I am well qualified to help you navigate the real estate byways. I provide a number of tools and resources that are particularly helpful for individuals buying and/or selling a home on their own.
Here are a few examples:
> Free, one-on-one consultation: No pressure, no obligation. You and I sit down together for 15 or 20 minutes to examine your options and determine your best "next steps", even if it turns out to be renting.
> Lifestyle Questionnaire: designed to help you identify your homeownership preferences and priorities.
> "Express" Homebuyer Workshop: a 2-hr., information-packed seminar for individuals and small groups, designed to answer all your questions, however basic or advanced, and set you on the fast track to home ownership. > "Express" Homeseller Workshop: same as above except directed toward sellers.
> "One-Click" Small Home Search: I have created four separate searches for various parts of Seattle. One click will produce a list of all Active Listings of small homes in any given geographic area. The link provided here is for small homes in West Seattle. > Single Homebuyers' Network: an opportunity to meet (either in person or online) with other individuals who are considering/experiencing the homebuying process. This is a new offering, still in the conceptual stages, so you can help shape its future.
> Downpayment Assistance information: the State of Washington sponsors several programs designed to help you buy a home, including help with the downpayment.
These resources will help make the process of buying a home much easier than you thought possible. Call me today to get started. 206-708-9800
Sunday, January 10, 2010
A Perfect Storm for Home Buyers!
Real Estate Weather Alert! The combination of LOW LOAN RATES, LARGE INVENTORY of homes, and a federal TAX CREDIT has created a Perfect Storm for potential home buyers!
If you anticipate buying a home in the next 6-12 months, DON'T WAIT! Here's why:
1) Interest rates are at generational lows that greatly improve the affordability of homes. Interest rates are bound to rise, and most experts predict that it will happen sooner rather than later. A difference of just 1% (e.g. 5% vs. 6%) on the loan rate for a $400,ooo home can cost you over $250/month. Not so much, you say? Over the course of a 30 year loan, that translates into an additional $90,330!
Put another way, if you can afford a $300,000 house at 5%, you will only qualify for a loan of approximately $270,000 at 6%. That might translate into one less bedroom or no garage or no updates to the home.
2) High inventory of homes. We are currently in a "buyer's market." That means there are more sellers than there are buyers, so by the economic law of "supply and demand", buyers have the upper hand. This has contributed to a decrease in home prices and more bargaining power for buyers. In other words, there are many wonderful and affordable homes on the market from which to choose.
3) In an effort to stimulate the economy, the federal government is offering homebuyers a tax incentive. Most first-time home buyers (anyone who hasn't owned a home in the past 3 years) are eligible for an $8,000 tax credit and current homeowners may receive up to $6,500. That is a tax CREDIT, not a tax deduction. The difference is that a tax credit is directly deducted from the amount of tax you owe at the end of the year. If, for example, you owe $7,000 when you file, you would only need to pay $500! If you don't owe any income tax, you would receive a check back from the government for up to $8,000! (Please give me a call for more details on restrictions, but they really are minimal.) BUT THIS CREDIT ENDS APRIL 30, 2010.
So there you have it! A Perfect Storm for home buyers from now until April 30th. Give me a call at 206-708-9800 and ask me how I can help you take advantage of it.
Current mortgage loan rates
Here is this week's update on mortgage loan rate activity, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.
"Rates are down, and things are looking up. Many lenders are offering 5 year ARMs in the low 4% range and even the high 3% range! That is amazing.
Fixed rate mortgages are inching back down to the 4's as well. Please let me know if anyone you know is looking for a refinance or new home purchase financing. Please feel free to contact my cell phone at any time at 425-418-5103."
Troy Chambers
Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com
Table of rates.
"Rates are down, and things are looking up. Many lenders are offering 5 year ARMs in the low 4% range and even the high 3% range! That is amazing.
Fixed rate mortgages are inching back down to the 4's as well. Please let me know if anyone you know is looking for a refinance or new home purchase financing. Please feel free to contact my cell phone at any time at 425-418-5103."
Troy Chambers
Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com
Table of rates.
Free list of Open House events
Here's an easy way to get a list of all the houses being held open this weekend.
Use the search tool link below to find all Opens or just those that fit your criterion. It includes listings by various real estate companies/agents, assuming the event has been posted in the NWMLS (Northwest Multiple Listing Service). Open House Search engine
I hold an Open House nearly every Saturday and Sunday. Today, from 1:15-4P, I'll be at 3918 SW Southern St in the Gatewood neighborhood of West Seattle. For more details about the home, go to www.AliceKuder.pnwRealty.com/29046403 or call/text me at 206-708-9800.
Use the search tool link below to find all Opens or just those that fit your criterion. It includes listings by various real estate companies/agents, assuming the event has been posted in the NWMLS (Northwest Multiple Listing Service). Open House Search engine
I hold an Open House nearly every Saturday and Sunday. Today, from 1:15-4P, I'll be at 3918 SW Southern St in the Gatewood neighborhood of West Seattle. For more details about the home, go to www.AliceKuder.pnwRealty.com/29046403 or call/text me at 206-708-9800.
Free & Fun this afternoon!
Yes! A free, fun Open House for your Sunday afternoon! Today, from 1:15-4P, I will be holding open a stunning view home in the Gatewood neighborhood of West Seattle. This home was rebuilt from the ground up last year with a modern flair and fabulous views. The address for this 4 Bedroom/3 bathroom showplace is 3918 SW Southern Street, and the list price is now $899,000. For more details go to www.AliceKuder.pnwRealty.com/29046403 Or give me a call to set up a private tour. 206-708-9800.
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