Is your Tenant costing you money?

Is your tenant costing you money?  Today I was showing homes to some perspective buyers.  One of the homes was occupied with tenants.  The whole time we were viewing the house the tenant was screaming at her 4-year-old son.  Obviously we could hardly concentrate on the house and we decided to move on.

Your tenant could be costing you the sale of your home.  Make sure to weigh the costs and benefits of keeping your tenants in the house while trying to sell.  Having your tenant in the house can lead to:

• Missed buyers – setting appointments can be extremely difficult.
• Longer time in the market.
• Lower sales price.

It might be better idea to help your tenants find new housing or wait to the end of the lease before listing.

Always make sure to check with your local and state tenant laws.

Home Investors Paying Cash Up 8%

http://www.freep.com/apps/pbcs.dll/article?AID=20103280308

We have been working with some investors looking to pay all cash for fixers around the Seattle/Tacoma Area over the past month.  There are a lot of homes that are on the market and will have trouble being financed.  Usually we find there is just too much work to be done and it will not appraise.  Sometimes Sellers can work with buyers that have a 203k FHA loan, but not everyone is willing to wait while the house is being remodeled to be in a livable state.

Investors are out there and are buying and either flipping or are holding for 5-10 years as rentals to diversify their portfolios.

REALTOR� Magazine-Daily News-Key Features of the New Housing Rescue Plan

REALTOR� Magazine-Daily News-Key Features of the New Housing Rescue Plan.

New plan to use TARP Money to help those still underwater with their loans and add relief for those who have lost their jobs.

This will hopefully slow the amount of foreclosures coming on the market over the next year or two.  Banks have been more willing to work with home owners to do short-sales over the past couple of months.

We will have to see how this pans out long-term for the People.

Keller Williams Family Reunion in New Orleans: Tour of the City

Keller Williams Family Reunion is in New Orleans this year. Every time I travel to a new city for business, I love to get to know the city a bit better because you never know when you might be back! New Orleans is an incredibly special city for its rich history from being owned by three countries in less than 20 days to of course Mardi Gras and the famous Bourbon street. Most recently New Orleans is famous for the horrible destruction that hurricane Katrina left behind. Being from Seattle, WA I have been really sheltered from such destruction (except for our occasional earthquake).

It has been an amazing experience seeing this city now in its time of rebirth and rebuilding. From the amazing 2009 New Orleans Saints season and their Superbowl win to the rebuilding of the neighborhoods in the multiple Wards that were destroyed. Attached are some photos from my tour of New Orleans including: the financial district, garden district, the city park and of course the Ninth Ward.

Being a realtor I was amazed to learn that there were over 250,000 homes were destroyed and over 900,000 homes were damaged! Only about 80% of the population has returned from being displaced across the United States.

Duplex Just Listed $325,000

Just listed this Duplex in West Seattle for $325,000.  It rents for $800.00 a side and has long-term tenants.  Please call me if you would like a private showing.

Click Here for more Information.

Also, if you have thought of purchasing an investment property, give me a call.  I will have several other properties available in Seattle/Tacoma Area.

Saw a great FSBO home in North Admiral Today

Great 1908 Craftsman, everything remodeled from ground up! A must see, let me know if you would like to see this or any other For Sale By Owner property.

Great News Seattle

The Seattle Market is showing signs of stabilizing and working towards climbing again

via Seattle%2Darea%20home%20prices%20rise%20for%202nd%20straight%20month%20in%20November.

$15,000 Price Reduction/ Now $170,000 in Boulevard Park

New Price, 15K Price Reduction. Great 3 bedroom condo next to the golf course! Swimming pool as an amenity. 2 baths, spacious living/dinning area, sliding doors to deck the width of the condo. Beautiful carpet in living areas. Master Suite. Wood burning fireplace, laundry room. Walk in straight from the parking, no stairs. Extra paned windows.

For more information please see the full listing at:  Listing Information

Contact me to arrange a showing.

Open Tomorrow From 10:30-12:30: New Listing In West Seattle $1,324,000

Open Tomorrow From 10:30-12:30

For Sale: 3BR/4+1BA Single Family House in Seattle, WA, $1,324,000.

Enjoy all of the privacy and incredible sound views of an island without the ferry commute. Built with uncompromising attention to detail, this newly constructed home is a loving homage to a combination of contemporary and craftsman styles.

Green technologies used in this home include solar panels for the in-floor radiant heat system, engineered slab quartz counters in the kitchen, and African Anigre custom cabinetry.

The open floor plan with double French doors to view decks that surround most of the main floor lends itself to perfect entertaining.

The gourmet kitchen features a five burner Wolf gas cook top, GE Monogram refrigerator, Bosch dishwasher and plenty of cabinet and counter space. Cooking becomes a joy while enjoying the amazing views.

Three bedrooms provide three complete suites with walk-in closets and full baths. The master suite has a large covered deck off sliding double doors with fixed panel sidelights, and a master bath with tub and shower, double sinks, Travertine marble floor and tiles.

Real Estate | Fannie Mae imposes 15-day wait for foreclosure investors | Seattle Times Newspaper

Real Estate | Fannie Mae imposes 15-day wait for foreclosure investors | Seattle Times Newspaper.

It looks like we are seeing a shift in the industry.   With the increasing numbers of Foreclosures, we are seeing more and more REO (Bank Owned Properties) listed.  Now it appears that Fannie Mae is trying to make it easier for individual buyers to invest in these properties versus an investor.  What they will be looking at will be what type of financing you will be applying for, primary residence or investor (rental) financing.

This is great news for the first time home buyer who can usually get more house for their money when purchasing an REO listing, but will make it more difficult for those investors looking to increase their Real Estate portfolio.

Since Fannie Mae is one of the two primary lenders in the country, I would guess this will be a industry wide adopted rule.