Browsing the archives for the Uncategorized category

4 Fundamentals of Selling a Home Today

No Comments
Real estate News, Uncategorized

Here are four things sellers should understand about today’s market to make their homes as saleable as possible:

1. Real estate pricing is very local: “When you’re looking at comparables, you have to see what’s sold in the past three months. Look at your competition and what’s under agreement,” advises Colette Casey-Brenner, sales manager at Coldwell Banker Arlington, Mass.

2. Get property pics online: Stage the property, then take pictures and video. Better yet, hire a professional photographer to do the job.

3. Disclosure is key: Tell potential buyers what’s wrong before they figure it out. That eliminates last-minute re-negotiations and cold feet.

4. Clean, clean, super-clean: A clean and clutter-free property makes potential buyers likely to pay more.

Existing home sales soar in March

No Comments
Real estate News, Uncategorized

NEW YORK (CNNMoney.com) — Existing home sales jumped 6.8% in March, with home buyers racing to get a tax credit that expires in April, according to a real estate industry report released Thursday.

The National Association of Realtors reported that existing home sales rose last month to a seasonally adjusted annual rate of 5.35 million units, up from the revised rate of 5.01 million in February. Sales year-over-year were up 16.1%.

Facebook Digg Twitter Buzz Up! Email Print Comment on this story

Analysts surveyed by Briefing.com had expected the March sales rate to hit just 5.29 million annual units.

Home resales have been above year-ago levels for nine straight months, according to the report.

“Buoyed by the unseasonably warm weather, home owners were out en masse scooping-up bargain-priced real estate,” said Bob Walters, chief economist at Quicken Loans, in a research note.

In its February report, NAR said winter storms hurt figures for the month.

“Adding to the increase in sales [for March] is the looming deadline of the government’s home buyer tax credit,” Walters said.

First-time home buyers can qualify for a tax credit of up to $8,000, while those who are trading up could get as much as $6,500. In either case, buyers must sign contracts by the end of April and close the deal before July 1 in order to get the credit.

Legislators have twice extended the deadline to obtain the tax credit, but a further extension is not expected.

The tax credit “has been a resounding success,” NAR chief economist Lawrence Yun, said in a prepared statement. “This is preserving perhaps $1 trillion in largely middle class housing wealth that may have been wiped out.”

0:00 /3:41Trump: Don’t fear a real estate collapse
Price and inventory: The median price of homes sold in March was $170,000, up 0.4% from March 2009. Distressed properties made up 35% of the houses sold during the month.

Total housing inventory rose 1.5% to 3.58 million existing homes for sale. That’s an 8-month supply at the current selling pace, down from and 8.5 month supply in February.

Sales by property type: Single-family home sales rose 7.3% to a seasonally adjusted annual rate of 4.68 million in March from a pace of 4.36 million in February, and were 13.3% above the pace 12 months ago.

Condominium and co-op sales rose 3.1% to a seasonally adjusted annual rate of 670,000 units in March, from 650,000 in February, and were 39.3% above March 2008’s rate.

Sales by region: Total existing home sales rose the most in the Midwest, up 7.2% in March to an annual pace of 1.19 million. That’s up 15.5% from a year ago.

Sales in the South rose 7.1% to an annual rate of 1.97 million; the West gained 6.6% to 1.3 million; and the Northeast was up 6% to 890,000.

National Association of Homebuilders – Builders Urge Extreme Care in Restoring Housing Finance System

5 Comments
Real estate News, Uncategorized

Builders Urge Extreme Care in Restoring Housing Finance System

NAHB Third Vice Chairman Rick Judson testifies before House Financial Services Committee. Photo by Herman FarrerAs Congress begins to debate how to reform government-sponsored enterprises (GSEs) Fannie Mae, Freddie Mac and the Federal Home Loan Bank System, NAHB on April 14 called on lawmakers to ensure that the federal government continues to provide a backstop for the housing finance system to ensure a reliable and adequate flow of affordable housing credit.

Testifying before the House Financial Services Committee, NAHB Third Vice Chairman Rick Judson, a builder and developer from Charlotte, N.C., said the need for this support is underscored by the current state of affairs — with the GSEs, Federal Housing Administration and Ginnie Mae acting as the primary conduits for residential mortgage credit.

“NAHB feels the federal backstop must be a permanent fixture in order to ensure a consistent supply of mortgage liquidity as well as to allow rapid and effective responses to market dislocations and crises,” said Judson.

Related to the future of Fannie Mae and Freddie Mac, NAHB recommended policy changes to restore and improve the secondary mortgage market and housing finance system:

Degree and structure of government support. While government support is needed to ensure that mortgage credit is available and affordable in all areas of the country under all economic circumstances, support for the conforming conventional mortgage market should not be provided directly to private companies. Instead, the federal government should explicitly guarantee the timely payment of principal and interest on securities backed by conforming conventional mortgages, in the same way that Ginnie Mae now provides guarantees for investors in its securities.

Operation of the conforming conventional mortgage market. NAHB envisions private companies — conforming mortgage conduits (CMCs) — being chartered to purchase conforming conventional loans originated by approved mortgage lending institutions such as banks, savings and loan associations, mortgage banking companies and credit unions and then issuing securities backed by those mortgages.

CMCs would guarantee the timely payment on the mortgages that are pooled in the government-guaranteed securities and would be required to be well-capitalized and to maintain reserves at levels appropriate for their risk exposure. However, CMCs and the mortgages backing their securities would not have implicit or explicit support from the federal government. A fund would be established by the government to provide a guarantee of timely payment of principal and interest to investors in the securities. The CMCs would pay a fee to capitalize the fund, which would be designed to mitigate the federal government’s risk so that it would only be exposed in the case of a “catastrophic” occurrence.

Conforming conventional mortgages. Mortgages eligible for inclusion in securities receiving an explicit federal guarantee should have well-understood risk characteristics. This would include fixed-rate and standard adjustable-rate mortgages and selected multifamily mortgage loans.
NAHB is in the process of updating its policy on the future of the Federal Home Loan Bank System and believes that policymakers must take into account its significant structural and operational differences from Fannie Mae and Freddie Mac when considering the future make-up of the housing finance system.

With Fannie Mae and Freddie Mac now operating under conservatorship and experiencing severe financial pressures, NAHB urged Congress to proceed with caution as lawmakers take steps to transition to a new housing finance system.

“Any changes should be undertaken with extreme care and with sufficient time to ensure that U.S. home buyers and renters are not placed in harm’s way and that the mortgage funding and delivery system operates efficiently and effectively as the old system is abandoned and a new system is put in place,” said Judson.

Bob Anderson Candidate for Skamania County Commissioner, District 3

No Comments
Uncategorized

I was born and raised in Skamania County, graduated from Stevenson High School in 1981 and have loved it all my life. In 1985 I decided to move to the Seattle area and begin work in my chosen profession – new home sales and marketing. After 27 years of success doing that and becoming a partner in a Windermere franchise in the Seattle area I decided to move back home with my wife to raise our kids in the beautiful Columbia River Gorge where I have so many wonderful and happy memories.

The health and welfare of the county and its people are important to me as I grew up with many of them whether they were friends, parents or grandparents of friends, and we all wish to maintain the lifestyle we enjoy here. To accomplish this we need to make changes together and that means it is about what the people that live here want. Some of the issues that confront us today are ones that we have encountered before and some are new. Jobs have always been a huge issue and one we need to continually address. One way to accomplish this is to attract technology type companies that provide jobs for us but also have a small “foot print” on our landscape. Unlike large manufacturing companies like the forest industry this County was fueled on in the twentieth century. Our history with the forest industry is a proud one and always should be but today we need to be competitive in the global economy for the kinds of businesses that make sense for our County.

Another issue is the land itself. We need to take care of it and be cautious not to create urban centers versus the rural nature of what is special about Skamania County. In my many years spent in the greater Seattle area I experienced expansion into rural type areas by the home building industry and saw those areas changed forever to more homes followed by more strip malls, congestions and other things that make up a more urban setting. This is not what the people of Skamania County want so we need to be good stewards of the natural beauty that surrounds us. Once it is changed it is changed forever.

COMMENT From BOB: I am pro-development in a smart and managed way meaning before we grant something we need to consider what it means to the county as a whole. I love the fact that we can work together to provide solid housing, modern conveniences, steady jobs with opportunity for all.

I want to see the public lands back open to the logging industry. It benefits Skamania County by providing jobs for our residents and money from the logging of the timber on the land in our county. This is one thing that the Feds have been “handing out” to us for years now and it is coming to an end. Let’s get back to not worrying about getting these funds that are so important to our County. If we lose this revenue we will have to make it up for things like our schools and that is a tax levy which no one if our county is used to paying for! Growing up I remember the fine schools we had and what we were able to provide the teachers and students. We as students of course did not realize it or probably even appreciate it then but we surely look back now and realize it.

Let us position Skamania County to be competitive in the global economy to attract those companies that benefit our lifestyle the best, it will not be easy but a task that I believe we need to work at.

About Bob Anderson:
BOB ANDERSON brings over 27 years’ experience in business with an emphasis on marketing and selling of homes, including past President & Managing Partner/Business Owner of Windermere OnSITE a Seattle based company that focused on new home single family, multi-family and condo towers both in downtown Seattle and the greater Puget Sound. In those 27 years Bob attained a thorough, overall knowledge of the processes including client relations, new business development, coaching/training, marketing research/analysis, new product design, business plans, negotiations, land acquisitions, short-/long-term planning and conducted seminars and training workshops. Bob brings a wealth of experience and proven expertise to provide logical and process oriented solutions that can make the difference in today’s climate. Bob is home in the Columbia River Gorge along with his wife Melissa to raise their children and be a part of this special place called the Gorge.

Our Weather!!!

No Comments
Uncategorized

Beautiful rainy, snowy and cold weather is what we have been experiencing here in the gorge of late. It is always fascinating to live here with these freaky meteorlogical patterns! It is always different and as Forrest Gump said “you never quite know what you’re going to get”. Forrest would love the springtime as the rain and sun grow the grass fast, people around here love to get on their riding mowers and got to work – or is it play? It has been wet I guess because of the El Nineo pattern but then again nothing we are not used to…

Clark County – January’s Residential Highlights

No Comments
Gorge Real Estate News, Uncategorized

Sales activity continued to grow

in Clark County when comparing

January 2010 to the same time

last year, though not quite as

dramatically as last month.

Compared to January 2009, closed

sales increased 34.8% and pending

sales were up 20.2%. However, new

listings fell 3.1%.

Pending sales were also up 18.5%

(422 v. 356) when comparing January

2010 and December 2009. However,

closed sales fell 38.4% (275 v. 422).

and new listings grew 80.1% (942

v. 523) driving inventory to double

digits for the first time since May

2009.

At the month’s rate of sales the

3,407 active residential listings in

RMLSweb at the end of January

2010 would last approximately 12.4

months.

Sale Prices

Contrary to the trend over the

last few months in 2009, the average

sale price for January 2010 actually

increased 4.2% compared to January

2009. In addition, the median sale

price rose 5.5. Furthermore, comparing January

2010 with December 2009, the

average sale price increased a

slight 0.3% ($245,100 v. 244,400)

and median sale price was up 3.9%

($219,900 v. $211,600).

Courtesy RMLS