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Archive for Real Estate

The Five Most Important Traits In a Real Estate Agent
August 13, 2010 · Written by Brock Dunda · Filed under Real Estate

It seems that in the past that only real estate agents had the knowledge of where homes were for sale, and knew the process of buying or selling a home. However, now the internet has made possible a place where anyone can go and browse for homes all across the nation. Still, an agent is an essential part of the home searching and buying process as well as the selling process. Good agents have years of experience and will do their best to make sure your interests are being represented honestly and fairly. The following are traits that a good agent will conduct themselves by in their transactions.

Honesty. Honesty is is the centerpoint of a good agent. By being up front with their client, honesty ensures that there are no surprises later in the process for both the agent and the client. Trust follows from honesty.

Loyalty. When someone approaches an agent asking for help in buying or selling a home, they place their trust in that agent. And from that trust follows the loyalty of the agent. The agent pledges to represent the client and work hard to see that their needs are met fairly. Loyalty breeds trust, and in return, the loyalty of your client.

Integrity. The consistency in which an agent conducts themselves and demonstrates the methods, measures, values, and principles is an integral aspect of being a good agent. Having an intuitive sense of truth and honesty separates a professional real estate agent from the others.

Perseverance. It’s a buyers market now. It takes extra-ordinary effort to make sure that that home get’s sold or that perfect home is found. Simply listing a property won’t work anymore. A good agent will work hard to find that perfect home, and will persevere to get your home as much exposure as needed.

Patience. If that home just won’t sell or the perfect home just isn’t turning up in the searches, a patient agent will take time to evaluate what the problem could be and adjust their methods to reflect their research. They will take the time to communicate further with their clients to determine and define their client’s needs.

A good real estate agent shouldn’t necessarily be defined by how many deals they close but by how they conduct themselves in business. A true real estate agent isn’t only in the business of selling houses. They are in the business of providing clients an honest avenue to buy or sell a home, to be loyal to that client, persevere through the difficult times, and be patient when things don’t go according to plan. A true real estate agent is in the business of helpingpeople.

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Job Openings in Washington Increase For The First Time In 3 Years
August 12, 2010 · Written by Brock Dunda · Filed under General, Real Estate

The 2010 spring Washington Job Vacancy Survey Report recorded the first increase in the number of job vacancies offered since fall 2006. The survey indicated that companies were attempting to fill an estimated 38,732 open positions during the April 2010 survey period. While theses job opening indicate that the economy is improving, it is still unclear whether Washington state and the nation are indeed entering a recovery period.

This is good news for job seekers in Washington. According to the survey for this spring, it shows a 21 percent increase in openings since last fall. Most of the jobs are made up by the private sector, however, some public health care and education jobs are included.

Health Care was the leading industry in job growth. Registered nurses were the job that was most in demand with over 2,300 openings.

Software engineers were the next in terms of most needed, with almost 2,000 job openings.

For more information, please see the full survey.

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Reminder: Tax Credit Closing Deadline Extended
August 12, 2010 · Written by Brock Dunda · Filed under Real Estate

Congress recently passed a bill that will extend the closing deadline on the Homebuyer Tax Credit. The extension lengthens the closing date to September 30, 2010. This deadline is for home purchases that had a signed contract by April 30th of this year. There will be no gap between June 30th and the date the President signs the bill into law.

Additionally, Congress has extended the National Flood Insurance Program through September 30th as well. This bill is retroactive and will cover the lapse period from June 1, 2010, to the date the law is enacted.

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Housing Trend Moving Towards Smaller Homes
August 12, 2010 · Written by Brock Dunda · Filed under Real Estate

The current housing trend is to live modestly and forgo unessential large spaces for homes. First time home-buyers are leaning more favorably towards smaller homes as they’re easier to maintain, and require less energy to run. In lieu of new banking guidelines and stringent credit scoring practices large loans can be more difficult to obtain. This a contributing factor to why people are purchasing smaller, more affordable homes.

Housing sizes typically drop during recessions, however, economists expect the current downsizing and small home buying trend to continue due to the current housing difficulties and change in familial status.

Downsizing and living modestly, as well as making the most use of the space available is more sustainable. It requires less maintenance, less energy, and consequently less money. This is obviously attractive to those who are looking to downsize or for those that are purchasing a home for the first time.

Due to this shift in housing trends, the builders market has changed significantly. Coupled with the demand for smaller houses and remodeling, builders can take advantage of a new niche.

Again, it’s not just about making a smaller house, but maximizing the usable space within and also building with quality, though less expensive material alternatives. For example, instead of an expensive granite kitchen, using a synthetic material look-alike. One can also purchase a smaller home and/or remodel areas of the home to create more space.

The recession has helped many people understand the value of a home floor plan that utilizes space efficiently, as well as valuing the sustainable lifestyle of living in a smaller home.

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How Important is the Location of a Home?
July 28, 2010 · Written by Brock Dunda · Filed under Real Estate

Location of a prospective home is paramount to your buying decision. Of the many things that can be changed about a home after it’s purchased, the location is just about the only one that you can’t change. There are a number of things you’ll need to consider to determine of a home’s location is right for you. Below are some helpful guidelines and tips that will hopefully help you to decide.

Community

Is the community right for you? Does the community reflect the same values that you have? Do you enjoy socializing or do you value your privacy? Look for a home in which the surrounding community has similar values.

Schools

Do you have children? How far away are you children from the schools? Will you have to drive them to the bus stop or all the way to school? Do you plan to attend a community college for continued learning? If schools and/or continued education are important to you, consider a home that is in relatively close proximity to an academic institution.

Shopping Centers

How close are grocery stores and shopping centers? Would you prefer to be closer to the grocery store or malls?

Work/Occupation Proximity

How far away is your work? Do you want to commute? What’s the maximum distance you would consider traveling for work? Do you work from home? Know how far you want to travel and consider traffic into your travel time calculations.

Traffic

Living on a busy road can feel invasive and less private. How much traffic are you willing to tolerate? Will you be working from home and traffic won’t be an issue?

Remember, location, location, location. A home can always be renovated, remodeled, demolished and rebuilt. The landscaping can be altered, changed, or redone. But the location of a home is final. Research areas that appeal to you and narrow your search down to those areas.

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Prepare Your Home for Fall and Winter
July 28, 2010 · Written by Becki French · Filed under Helpful Tips, Real Estate

Fall LeavesAs fall creeps into the air here are some items that need your attention around the home. Clean out those gutters one more time before Fall. With this great weather it’s a good time to repair leaks or replace damaged downspouts. Replace some gutter screws, get some decorative spout trays for even distribution of water flow or get yourself a rain barrel.

Central air-conditioning? This is a good time to check your system out. Make sure you’ve cleaned out all the condensation in the drain line. Clean out any algae or other debris. You can easily clean those lines with a bleach mixture.

Before you store away your window screens, make sure they are clean. You can clean them easily with a soft scrub brush and warm soapy water. Clean both sides of the screen. Rinse and allow to dry and you’ll be ready for next year.

Windows can be checked for leaks or cracks and you can decide whether they need to be replaced or not. Tax credits are still being allowed through the end of this year for energy upgrades.

Insulation, water heaters, and furnaces can be checked out as well. When were they last serviced? Have all filters been changed out? There are tax credits still being offered for these energy upgrades until the end of this year.

It’s time to prepare for the Fall and Winter months by getting these easy, smaller projects out of the way.

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Should I Stage My Property?
July 27, 2010 · Written by Brock Dunda · Filed under Helpful Tips, Real Estate

This is a question often asked by those who want to know if the cost of staging a home is worth the investment in an already down market. Below is some food for thought that will hopefully help you decide what will work best for you.

The Positives

  • Staging can help people visualize the amount of available space in a room which they can then mentally picture their own furniture and items in the rooms.

  • A clean well staged home can make rooms look larger.

  • Elegant decorating and staging can add character to an otherwise empty home.

  • Staging can help draw attention to the best attributes of the home.

The Negatives

  • Staging a space can make it look claustrophobic and cluttered.

  • Some buyers prefer an empty home that they can picture their own items in.

  • Staging done improperly can be a significant detriment how well the home shows.

  • Staging can be expensive.

Know What Kind of Market You’re In

By knowing what kind of real estate market you’re in, you should be able to get a better idea of whether or not staging your home will be effective or not.

Buyer’s Market

Currently, we’re in a buyers market. There’s plenty of homes on the market to choose from, so anyone selling their home will have some competition. To set yourself apart from the others, staging can be a helpful tool. Elegant decorations can draw attention to the space and “feel” of the room, rather than draw attention to the emptiness which may reveal minor issues.

Seller’s Market

In a sellers market, buyers are competing for your home, so it won’t often require the expense of staging, although it may help your home stand out.

The best advice is to understand your home, and have an understanding of the market. Know whether it’s a buyer’s or seller’s market. Know your homes best features. Find out from a professional stager what would complement your home perfectly. Regardless, understanding your home will help you determine that staging or leaving the home empty showcases your home the best.

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Taking Advantage of Low Mortgage Interest Rates
July 26, 2010 · Written by Brock Dunda · Filed under Real Estate

Mortgage rates for loans are the lowest they’ve been in years. If you’re thinking about buying a home or refinancing to lock in these unprecedented low rates, this is a good time to do it. 30-year fixed pricing is hovering around or below 4.5 percent.

Why You Should Buy

  1. You’ll get a locked in low mortgage rate that will remain unchanged for 30 years.
  2. Your monthly payment may be more affordable.
  3. Home prices are lower.
  4. Save money by locking in a low rate.

Keep in mind, there is a good possibility that the recession will continue. This means that the home you buy may not appreciate in value quickly, and may even lose value initially, however, the locked in low interest rate will help ensure the possible benefits of long term investment in a home of your own.

What To Expect

- 30-year fixed rates will probably increase over time. Lock in your rate.
- Don’t plan on buying a home with the intention of having it start to appreciate immediately.
- A 30-year fixed rate will be locked in at that rate.

Refinance Now!

If you haven’t already, refinancing your loan to match the lower rates can save you a ton of money over time. If the thought has crossed your mind to get your loan refinanced, talk to your loan officer. No matter how long you’ve held your mortgage, there’s a chance that a refinance can:

- Reduce out of pocket costs.
- Lower your existing mortgage rate.
- Reduce your total mortgage payment substantially.

Mortgage markets change and vary rapidly and without notice. By locking in a low rate now either through the purchase of a new home or via refinance, you may ensure a lower monthly payment with a fixed low interest mortgage rate.

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What You Need To Do Before You Buy A Home
July 14, 2010 · Written by Brock Dunda · Filed under Helpful Tips, Real Estate

Fannie Mae recently released some useful information for people who are looking to buy a home. Primarily, you need to ensure that you can keep the home over the long term. Please see the following five steps provided by Fannie Mae regarding things you need to do before you consider looking for or purchasing a home.

  1. Get Educated. Learn about mortgages and how they work. By doing your research, you can ensure that you obtain an affordable mortgage.

  2. Get Your Finances In Order. Have pay-stubs and other employment related paperwork ready as well as any other financial documents in order. Due to today’s more critical lending guidelines, you can save yourself time and headaches by preparing and organizing your finances.

  3. Establish a Budget. Understand your financial situation and know how much of a monthly mortgage payment you could afford.

  4. Start Saving. You’ll need to have some money saved up in order to fund the down payment on the home, the deposit (typically 2% of the purchase price), and closing costs.

  5. Get Pre-Approved. By getting pre-approved for a loan you can safely start your house hunt and will be focused in a price range you can afford.

Keep in mind, pre-qualification does not mean you have an approved loan. You would still need to apply for a loan if your offer on a home is accepted.

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Getting The Inside of Your Home Ready to Sell
July 6, 2010 · Written by Brock Dunda · Filed under Helpful Tips, Real Estate

After your home’s exterior has given potential buyers a reason to see the interior of your home, evaluate the inside of your property as follows.

  • Make sure all windows are washed, and that blinds are open to invite as much light in as possible. Light and bright sells houses.

  • Remove all smoke, pet, and hobby odors from the property.

  • Clean and dust all light bulbs and fixtures to ensure the lighting is bright.

  • Shampoo carpets and vacuum them often. If the carpet is stained or does not wash well, consider replacing it with a neutral color. If there are hardwood floors underneath, consider utilizing them.

  • Clean your house from top to bottom. Remove unused or “clutter items” from the home and store in a storage unit. Buyers are attracted to storage areas, so if you can clear out your sheds, attic spaces, or other storage areas on your property, buyers can visualize how much space your home has.

  • Remove posters and adhesives from the walls and repair any holes in the wall that may be caused by nails or other mishaps.

  • Clean or paint the basement walls and floor.

  • Wax hardwood floors.

  • Remove cobwebs.

  • Paint inside walls with an off-white paint. Use two or more coats to cover bold, bright, or dark walls. Newly painted walls add brightness to the home.

  • Ensure doorknobs are in good working order.

  • Make sure that all entrance doors – front door, storm door, screen doors – are in good working condition. If not consider replacing or refinishing them. This is the first impression a potential buyer has of the property. Lighting and cleanliness are extremely important.

  • Repair or replace all room doors, closet doors, and windows and screens so that they open with ease.

  • Repair or replace banisters or handrails.

  • If there are broken tiles on walls or floors repair or replace them.

  • Replace toilet bowls if you cannot get them spotlessly clean.

  • Improve the plumbing to increase water pressure. Buyers will always check this.

Remember – clean, light, and bright sells houses and will help you achieve top dollar for your home.

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