Price Opinion vs. Official Appraisal

My friend Carol, who is a Realtor in Wenatchee, wrote an article on this topic, and I want to make sure you don't miss out on it:

"Hi Connie, Here is a link to an article I wrote about the difference in an agent prepared "price opinion" and an official appraisal. http://www.carolswenatchee.com/wenatchee-realestate/2005/6/25/appraisal-vs-price-analysis.html "

Have: 5 acre lot on Neppel Road

I have 2 to 3 BUYERS who need homes in the country between Moses Lake and Warden with 2-5 acres of land, and between Othello and Royal City.

Have a great week!

Connie Suehiro, Realtor
Gary Mann Real Estate
305 E. Third Ave
Moses Lake, WA 98837
509-431-5804

Showcase of Homes on Saturday

Come join us in our Showcase of Homes in the Laguna area in Moses Lake, across the freeway from the former Moses Lake State Park! Several homes on Astor Loop and the beautiful BRICK HOUSE on Crane Lane with a grand entryway will be open for you to see. I will be in 508 S. Crane Lane, a 2600 square foot home with four bedrooms and three bathrooms. For more information on this house, and to see photos, go to www.GaryMannRealEstate.com and input MLS Listing Number 28004209. Directions to this exquisite home in a neighborhood full of custom built homes: east on Sage Road, right on Sandunes Road, left on Astor Loop, right on Crane Lane. Home on the right with the OPEN HOUSE sign in front. Print out this information, and I'll see you there!

Connie Suehiro, Realtor
Gary Mann Real Estate
305 E. Third Ave.
Moses Lake, WA 98837
509-431-5804 direct

New FHA Loan Limits For Grant County

This is from our friendly mortgage banker in Federal Way, WA.

"Hello All-

I just wanted to keep you focused on FHA.

The Economic Stimulus Package greatly increased the loan limits for FHA lending. Please note the highlights below:

The new FHA loan limit for Grant County is $271,050

This increase allows for higher priced homes to be eligible for a low down payment- Helps you move those listings!

FHA allows the use of 6% seller concession

FHA allows the use of non-occupying co-borrowers

FHA will still allow gift funds

FHA is still the #1 mortgage product for Manufactured Homes!

Please let me know if I have help in any way!"

Thanks,
Mike

Michael Bess
Mortgage Banker
National City Mortgage, a division of National City Bank
31620 23rd Ave S #200
Federal Way, WA 98003
Office: 253-839-6500
Mobile: 253-632-0105
Fax: 253-839-6520
Email: mike.bess@ncmc.com

Thank you for contacting me. Have you seen my web site? You can now apply for a mortgage online, 24 hours a day! You will also find useful mortgage calculators and other valuable information.

Web Page: www.ncmc.com/mikebess

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Quote of the day: "Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude."
- Thomas Jefferson
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How Many Homes On The Market Today?

There are 97 homes under $180,000 on the market for you to choose from today.

Do you want to know how many under $180,000 or less have sold in the past six months? That would be since November 2007: There are 86.

So, since 86 in that price range have sold since November 2007, and there are 97 homes available now as opposed to 83-85 homes on the average being available for sale through the winter, that means that there are more and more homes for sale, giving Buyers a little bit of a competitive edge, wouldn't you say?

For Sellers, this means that you need to be sure to price your homes competitively. If your home had a market value of $230,000 five months ago, it's possible that the value is about $200,000 at today's market value now. Or if the market value of your home on the lake was $425,00 six months ago, it's possible that it's around $370,000 at today's market value.

Here's a look at the market of waterfront homes (lake mostly, some creek), October til now:

Active Homes: 40
Low Price: $259,000
Average Price: $489,994
High Price: $699,000
Average DOM (Days on Market): 127

SOLD Homes: 6 (SIX)
Low Price: $276,000
Average Price: $455,000
High Price: $589,000
Average DOM (Days on Market): 137

Price your home competitively so it will sell, not sit on the market, waiting to be sold.

For help in selling your home and helping you price it competitively, call me at 509-431-5804.

Connie Suehiro, Realtor
Gary Mann Real Estate
Moses Lake, WA 98837
509-431-5804

Has Your Home Sold Yet? Why Not?

There are a few good reasons why your home hasn't sold yet.

1. It hasn't been on the market long enough. It takes a little while for your property listing to create some excitement for buyers who are looking. Buyers may see your listing the first time it gets advertised, or, they might see it in the Home Guide a week or two later when they pick up the next issue. Give it some time.

2. Your agent didn't mention the necessity to de-clutter your home and brighten it up a bit. I have been in homes where each bedroom has boxes packed and stacked up to the ceiling, and all you could see was boxes. In the hallways and around the kitchen table are more boxes and shelves full of all kinds of belongings. Sellers, remember this solid tip, Buyers don't want to see your belongings, they want to see the incredible amount of space you have. That's what sells. De-clutter and turn on all the lights! If you have a home that is dark inside, go buy some bright lamps, then leave them with the house when it sells so the buyers will have the same brightly lit home they bought.

3. The price is way over market value, and everybody knows it, buyers and their agents, who use your house as a "comparison shopping" house to help their buyers purchase the less expensive house that is similar to yours. Listen to your real estate agent and know what the market value is TODAY, because that is really how often the market changes. Tell your agent to be brutally honest with you, even if you think you might not like what you are going to hear. Over in a suburb of Seattle, the market has been changing wildly. A couple of the listings there fluctuated in value by hundreds of thousands of dollars over a four-month period of time, and the sellers decided to remove their homes from the market for awhile until the market stabilizes again. So, keep up with market values around you.

God bless and good luck!

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Quote of the day: ""A house is made of walls and beams; a home is built with love and dreams."-- Unknown

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Connie Suehiro, Realtor(r)

Call 509-431-5804 (for selling or buying real estate,

or my free list of homes in Grant County)

Gary Mann Real Estate

305 E. Third Ave.

Moses Lake, WA 98837

99 Homes Under $180,000 in Moses Lake

Testimonial: "Enjoyed the way agent Connie Suehiro handled the listing and quick sale of the property. She did a great job. Thank you."
- Mr. and Mrs. Blanton
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Quote of the month: If dandelions were hard to grow, they would be most welcome on any lawn. ~Andrew Mason
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By the way, if you enjoy this blog and my customer service, and think a friend would enjoy it too, pass it along. I love referrals. That’s how I stay in business, working with great clients like you!

509-431-5804 direct
Connie Suehiro, Realtor(r)
Gary Mann Real Estate

How To Have a Win-Win Transaction

No transaction goes perfectly smooth. So, what can you do to minimize the rough spots and come to the closing table with a "Win-Win" transaction?

First of all, make sure you're working with a Realtor(r) who has a high degree of integrity and honesty. Ask your friends or co-workers if they have heard of the Realtor(r) you are considering. Get a referral.

When you have found the house of your dreams, that is, it's one that fits your criteria of the number of bedrooms, bathroom, size, location, and your financial picture, ask your Realtor(r) for a recommendation on what price to offer. There are several terms involved in the purchase of a home. The price is just one. Other terms include the amount of the earnest money. I recommend earnest money of a minimum of $500 for every $100,000 of the purchase price. This shows the seller how "earnest" you are.

Suppose you want to buy a house for $200,000, but you want to put down an earnest money of only $500? Put yourself in the seller's shoes. The seller's monthly payment on the mortgage is approximately $800 - $1,200. Is your $500 earnest money going to look appealing to the seller when they have a monthly payment to make, AND they are chomping at the bit to buy another home? Not too likely. Make the earnest money appealing to the seller by offering at least $1,000 or more if you can afford it. If you can't afford it, can you afford to buy a house at that price?

Another term involved in making an offer includes which title company to use and what escrow company to use. Sometimes, they are the same company. If you have bought a home before and have a preference for a certain title company in town, you may have the option to use them again as long as the listing agent hasn't already opened preliminary title at a different title company. Otherwise, it will be your responsibility, according to the Purchase and Sale Agreement, to pay the cancellation fee. This ranges from $45 to $65, depending on the title company.

Back to the price. Let's say you did your homework ahead of time by going to a lender to find out what you can afford and are comfortable paying for. If you are financially comfortable buying a $200,000 home, let your Realtor(r) know that, and she will look for homes in that price range. But don't do it backwards and ask your Realtor(r) to look for homes in the $200,000 price range and then find out what you can afford. You may end up finding your dream home is out of your price range, then only be able to offer $165,000. This is not looking like a "win-win" transaction.

So, take the steps to prepare for a win-win transaction, so you won't be surprised with the results!

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Quote of the Day: "If the sight of the blue skies fills you with joy, if a blade of grass springing up in the fields has power to move you, if the simple things of nature have a message that you understand, rejoice, for your soul is alive." ~Eleonora Duse

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For a list of homes in your price range, call me at 509-431-5804. I look forward to talking with you!

Connie Suehiro, Realtor(r)

509-431-5804