Eastside Real Estate Working-for-you!

Tax Credit Deadline Approaching Quickly!

The deadline for the $8,000 tax credit is coming quicker than you think!  Yes, the credit ends on November 30th (sale must be closed).  But did you know to meet that deadline you should have your purchase and sale agreed to and in escrow no later than October 1st?

There are many prospective homeowners who will see this deadline and want to qualify and claim the $8,000.  We used to consider a normal closing approximately 30 days.  Now, normal closing times are closer to 45 days due to system delays and lender issues.  With the predicted onslaught of buyers,  you might want to figure a 60 day closing to be safe in meeting the deadline.

Extra potential delays will be caused by:
    Delays in appraisals caused by new HVCC rules.
    Lender procedural issues.
    Lender system overload caused by too many buyers.
    Escrow system overload caused by too many buyers.
    County system overload caused by too many buyers (recording).

Remember, you should budget 3-4 weeks for your search, so you'll want to be firmly in the process in September!

IMPORTANT! Please read! Thanksgiving Holiday takes out most of the last week of November!

Now to compound the issue, as we look at the November Calendar, Thanksgiving falls in the last week of the month (November 26th).  The Wednesday before Thanksgiving is a King County furlough day (November 25th).  The day after Thanksgiving is a legal holiday (November 27th).  King County can't record on Saturday or Sunday.  Monday is the the 30th, and there is a limit on how many sales can physically close on that last day.  Be prepared and think ahead so you don't miss the opportunity for your tax credit

On August 4th, I'll be doing a free Homebuyer seminar.  For details go to www.425homebuyer.com

Greg Perry quoted on national AP wire article on how to sell a listing.

Recently, I was approached by AP reporter, Melisa Kossler Dutton, who was doing a story on the impact of neighborning eyesores on the salabilty of close by listings.  She was attracted to a comment that I had made some time ago in Seattle's Rain City Guide on the subject. 

After a phone interview, she called again and asked if I would be willing to stand for an AP photographer, and I agreed.

Here's my contribution to the AP article:

"If homeowners are uncomfortable contacting their neighbors, real estate agent Greg Perry is happy to do it. He's had varying degrees of success. Some neighbors have seen the value of improving their property, others haven't, said Perry, who sells homes in Kirkland, Wash.

"You run into all kinds of people," he said. "There are belligerent people in life and there are accommodating people in life."

"A lot of agents need to think a little bit outside of the box," Perry said. "I'm always willing to help my seller out, and sometimes that means actually arranging for the neighbor's cleanup. I've done it on my own dime."

To see the entire article: click here

I thought it was a well done article on the subject (and I was quoted correctly)!

Monday's Inspiration - Liberty

Here is a thought provoking quote on Liberty by Abe Lincoln:

"We all declare for liberty; but in using the same word we do not all mean the same thing. With some the word liberty may mean for each man to do as he pleases with himself, and the product of his labor; while with others, the same word may mean for some men to do as they please with other men, and the product of other men's labor. Here are two, not only different, but incompatible things, called by the same name - liberty. And it follows that each of the things is, by the respective parties, called by two different and incompatible names - liberty and tyranny."

 

What does "Liberty" mean to you?

Exellent week for King County SFH pending sales

For the 7 day period ending on July 22, King County's single family home Pending Sales came in at 571, making it one of the stronger weeks of the year.

Eastside pending sales were also very strong at 184.  In-City sales were average at 123.

See the chart for the various King County areas:

Definitions: Pending sales are all new pending catagories with a pending date during the state period.

Eastside: NWMLS Areas 500,510,520,530,540,550,560, 600.

In City: NWMLS Areas 380,385,390,700,705,701,715,720

Monday's Inspiration - Attraction - Change Your Day Today

Take the time to watch this short video.  It will change your day today.

June 2009 Quick Stats -- Residential Homes

Statistics compiled from, but not verified or published from NWMLS

Monday's Inspiration -- A fresh start

"You may have a fresh start any moment you choose, for this thing that we call "failure" is not the falling down, but the staying down."

Mary Pickford

From a reader: Do you think housing will rebound? Or will we see price declines?

By Greg Perry
Kirkland Realtor

Occassionally I will participate in discussion on Seattle Bubble, a local real estate blog that focuses on the local real estate market.  I was asked the following question yesterday.  I thought I would repost my answer here:

By what goes up must come down @ 142: greg can I ask do you think housing will rebound or will we still see price declines in the next six months? 

Here is an article that I wrote in early 2007 that sums up most of my market philosophy.

 http://workingforyou.typepad.com/feature_article_pricing_t/ 

I work very different than most agents in that before taking buyers out to look at properties, I ask them to come in for a meeting that lasts for 1 - 1 1/2 hours, depending on the amount of questions the buyer has. I use a power point presentation that keeps me on track. For 14 years my “market slide” has shown the following: 

 

1. What is a Buyer’s market? 

2. What is a Seller’s market? 

3. What about appreciation. Will your home appreciate on a daily basis? 

4. What are our seasonal trends? 

5. What’s happening in today’s market. 

This slide kept ME grounded as much as anything could in the huge run up from 2002, as it forced ME to have a frank discussion with EVERY SINGLE BUYER about market appreciation. I have always believed “what goes up must come down”. So, 10% plus appreciation rates were a temporary bonus for some, I never felt this would sustain. My words to every buyer for over 14 years is “all markets correct”, and I believe this.

 Next 6 months? It depends on the neighborhood, price range……and absorption rate. I suspect the high end will continued to be troubled. Whether we believe in government stimulus….. or not….. the gov will do everything it can to throw incentive  at housing to get it going. Watch for more stimulus. In the lower price ranges, I think prices may stabilize in the best neighborhoods. Outlying areas may continue to struggle. 

I really do not like measuring markets MOM  (month over month) by median price, especially with segments of the market, like the high end, eroding overall pricing. When I work with a buyer, or a seller, I do my best to figure out what is happening in their specific market. 

 By the way, I also believe what goes down, will come up.

Life, Liberty and the Pursuit of Happiness - Happy Birthday America!

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. " What do the words "unalienable rights" mean to you. How about the words "life", "liberty" and the "pursuit of happiness"? Great words to ponder on our Independence Day! Happy Birthday, America!

Homebuyer Seminar -- Introducing 425Homebuyer!

You're invited to a FREE SEMINAR  "How to Buy Your First Home" (or make a move up in this market)

Introducing 425Homebuyer, a seminar where you can learn how to realize YOUR dream of HOME OWNERSHIP!  Your key to YES!

Do you have questions about home ownership, but don't know what questions to  ask?  Don't feel bad, you're not alone!  Join local real estate expert, Greg Perry of Windermere Real Estate, author of 425Realty.com and contributing author to the Seattle Real Estate Professionals Blog and Ron Poborsky, public speaker and local home loan expert with Cobalt Mortgage for a lively and informative seminar on How to Buy Your First Home (or make a move up).

Here's what you'll learn in this FREE seminar:

1. Is it in my best interest to buy a home? 
2. Can I qualify?  
3. What does my credit score say, and how will a mortgage banker look at it? 
4. How much home can I afford to buy? 
5. How should I go about finding the right home?      

And, much, much more! 

 

LOCATION:    COBALT MORTGAGE CONFERENCE ROOM

                  11255 KIRKLAND WAY, SUITE 100

                  KIRKLAND, WA 98033

Date:  Tuesday, July 7

TIME:  6:45 PM

Seating is Limited

Reservations Required!

To Register: email -- info@425lending.com

                   or Call 425-605-3164  

 

Free Credit Analysis! When you attend this Free 1 1/2 hour Seminar, you will also receive a FREE, CONFIDENTIAL CREDIT ANALYSIS, which will help you find out how quickly you can qualify for a home mortgage loan.

 

Urgent! $8,000 Government New BuyerTax Credit   
Ends Nov.30th!

 

 

Remember, there is no cost for this 1 1/2 hour seminar, and no obligation.

PS.  You can come even if you live in area code 206, 253, or 360 (or any other area code)!