Bellevue Condo

A clean slate for your personal touches! Great Eastern view of Bellevue from the living room and your two balconies. Perfect place to watch the July 4th fireworks and enjoy Mt. Rainier when she’s out. Ready to go for a quick sale. Enjoy the indoor pool, hot tub, party room, outdoor courtyard private garage and additional storage room. Close to everything Bellevue has to offer.

Last year, many people wanted to rent instead of buying a home because they thought that the bottom was still falling in the real estate market. 
This year, people have too many choices and they are feeling too much pressure to purchase so we’ve recommended that some of them rent first.

Here are some reasons people rent:

1)   Job transfer comes fast. We have clients that are moving here from Eastern Washington and they have dogs instead of children.  They have accepted a job and are arriving in 3 weeks.  When schools are not a requirement, it is often a good idea to rent in short-term corporate housing or a shorter lease so that the pressures of a new job can be lessened by not having the pressure of finding a home quickly in a higher priced market area.

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This is the press release that went out on the wire yesterday…

FOR IMMEDIATE RELEASE
Contact:  Nancy Juetten, nancy@nsjmktg.com, 425-641-5214
New Internet TV Show– Northwest Real Estate Forum — Debuts to Guide Real Estate Buyers and Sellers to Make All the Right Moves

(June 14, 2011 – Bellevue, WA, The Open Press) – Today a new internet TV show called Northwest Real Estate Forum debuts to guide residential real estate buyers and sellers to learn about local real estate issues and experts so they can make all the right moves.  This initiative is the brainchild Patricia Wangsness, a top producing realtor with the top performing Bellevue office of Coldwell Banker Bain.  She earned 5-Star Residential Real Estate Honors for Customer Satisfaction in 2010.

Wangness has one goal in mind with the new internet TV show.  She seeks to educate a wide and growing audience of viewers who are curious about market conditions.  She says, “Video is the easiest way for us to deliver information buyers and sellers need before they start the process of buying or selling.  Whether consumers are buying, selling, or sitting on the sidelines, the Northwest Real Estate Forum program aims to communicate and educate those who need to navigate market conditions so they can make good decisions.  The show is a vehicle to connect buyers and sellers with quality professional resources that can add value to their buying/selling process.”

The first video can be seen here.  Viewers can opt-in to be notified of new videos as they debut.  Each showcases local experts who address timely topics such as:

• How personal finances impact making the right buying, selling and renting decisions;
• Need to know basics before you apply for a mortgage;
• How to dance around the moving company bait and switch;
• The truth about Zillow;
• Home ownership before and after bankruptcy;
• New government rules for mortgage underwriting and what they mean to you;
• What it means for seniors to age in place;
• Escrow for newbies;
• The do’s and don’ts for interior design to optimize resale

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When we speak to clients about listing their homes for sale, the list price is usually a number they have already decided on.  Most people live in their homes comfortable and with a few minor changes, it will show beautifully.  We always recommend taking away personal items, they can distract the buyer.  We also recommend taking out any unnecessary furniture because it will make a room look bigger and that is usually better.  Breakables should be packed away and valuables should be hidden from the view of strangers.

With those things done, the house goes on the market and if we price it right, we will get an offer quickly and with some negotiation, come to a mutually acceptable selling price.  Then comes the appraisal.  With some luck and a good appraiser, the story goes on well from here.  What we are finding though is that the lenders are very cautious and can make things difficult for both the buyer and the seller.

The current lending environment, from our perspective, is difficult when we represent the seller as well as representing the buyer.  We caution sellers that if we price it above the current market levels, we might lose in the long run.  If the house doesn’t appraise, the seller will likely have to meet that price, or close to it because another appraiser will come to the same price.  The seller has lost because the home is off the market, then it goes back on the market and unless there is another sale or two in the area, the appraised value won’t change

When a home doesn’t appraise, there are three paths of action:

• the buyer can put down more earnest money, to lessen the risk of the lender
• the seller can lower the selling price to meet the appraisal
• the deal can be terminated

So if you want more from your home than the market will bear, you can wait until the market catches up, find a cash buyer that doesn’t want an appraisal or you can sell it for what the market forces dictate it to be.

How low can we go?  Buyers new negotiating strategy

Almost no one is making an offer at the asking price these days for homes that have been on the market a while, but making an insulting low offer is not usually the best way to get a home you are interested in.  The real estate market is dynamic, but perceptions are slow to change and the news media isn’t helping.  Read the rest of this entry »