Here is a list of homes for sale in Renton, WA. I am only showing you the top 20. There are a lot more out there. If you would like a list emailed to you for free just let me know.
Free Short Sale List.
Now is a great time to buy a home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Friday, May 29, 2009
Thursday, May 28, 2009
Tips for Pricing Your Home
When planning on selling your home you need to find the best price to list it at. Here are a few things that can help.
- Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?
- Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
- Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months?
- Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your REALTOR® for some recommendations.
- Ask a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.
- Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.
- Know what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Wednesday, May 27, 2009
Forms You'll Need to Sell Your Home
With tough times out there people have to make hard decision on what to do when selling their home. Home values have dropped and everyone has to save pennies now. There are a few choices for you. You could try a “Short Sale” or maybe you are thinking of selling your home yourself.
Here are some of the forms you will need to buy if you’re not going to use a Realtor.
1. Property disclosure form. This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state.
2. Purchasers access to premises agreement. This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.
3. Sales contract. The agreement between you and the seller on terms and conditions of sale. Again, check with your state real estate department to see if there is a required form.
4. Sales contract contingency clauses. In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies — such as the buyer’s need to sell a home before purchasing yours.
5. Pre- and post-occupancy agreements. Unless you’re planning on moving out and the buyer moving in on the day of closing, you’ll need an agreement on the terms and costs of occupancy once the sale closes.
6. Lead-based paint disclosure pamphlet. If your home was built before 1978, you must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Here are some of the forms you will need to buy if you’re not going to use a Realtor.
1. Property disclosure form. This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state.
2. Purchasers access to premises agreement. This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.
3. Sales contract. The agreement between you and the seller on terms and conditions of sale. Again, check with your state real estate department to see if there is a required form.
4. Sales contract contingency clauses. In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies — such as the buyer’s need to sell a home before purchasing yours.
5. Pre- and post-occupancy agreements. Unless you’re planning on moving out and the buyer moving in on the day of closing, you’ll need an agreement on the terms and costs of occupancy once the sale closes.
6. Lead-based paint disclosure pamphlet. If your home was built before 1978, you must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Monday, May 25, 2009
Short Sale or Bank Owned List
Here is a quick list of Short sale or Bank owned properties for sale in the Renton area.
Click Here For List
If you would like info for some other area or want to make the list smaller just email me.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Click Here For List
If you would like info for some other area or want to make the list smaller just email me.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Friday, May 22, 2009
2009 Tax Credit for First Time Home Buyers
Would you like $8000 back on your taxes this year?
We've been hearing a lot of questions about the new tax credit. Who qualifies? How does it work? How long will it last? In this special edition video, we’re taking an in-depth look at the $8,000 tax credit for first time home buyers.
According to the new legislation, a first time home buyer is defined as someone who has not owned a principle residence in the past three years. Those three years are counted up to the date you take possession of the house you buy in 2009. This means that even if you’ve owned a home in the past, you can still take advantage of the tax credit as long as you haven’t purchased a primary residence since 2006.The same goes for married tax payers - they must both be first time home buyers. For non-married joint buyers, only one of them needs to be a first time home buyer, or someone who hasn’t owned a primary residence in the past three years.Qualifying homes include:
New homes
Homes that are being re-sold
Condos
Townhomes
The main restriction is that the credit is only for those who buy a home as their primary residence. So investors looking to buy a rental property would not qualify for the credit. However owning a vacation home or a rental property already does not neccessarily disqualify you from taking advantage of the credit (as long as you haven’t owned a primary residence in the past three years).A Look at the NumbersThe tax credit is equal to 10% of the purchase price of the home, up to $8,000. The amount of the credit you can qualify for is related to how much money you earn. Here’s how the credit is scaled:
Single home buyers earning 95K or less qualify. If you make 75K or less, you qualify for 100% of the $8000. If you make halfway, 85K, you qualify for 50% or $4000. The credit phases out gradually between 75K and 95K of income. For example, if you make halfway between the income limits, 85K, you qualify for up to half of the credit.
The same rate applies for married couples and joint buyers whose incomes limits are doubled to $150,000 to $170,000. Married couples or joint buyers whose incomes are less would receive the full $8000 credit. At an income level of $160,000, halfway between 150 and 170, the buyers would receive half the credit – or $4,000. And the credit phases out altogether at $170,000.
This credit represent a significant amount of money. One of the biggest points of difference for the new credit from the one congress passed in July of 2008, is that the new credit does not have to be paid back.In addition, it's refundable, which means that if you’ve paid all your taxes as you go with an automatic payroll deduction, you would receive an $8,000 check from the IRS.If you're committed to buying a house in 2009 and want to use the $8000 tax credit for a downpayment, consult with your certified public accountant.In SummaryQualifying home buyers will need to make their home purchase between January 1, 2009 and December 1, 2009. And the home has to remain their principal residence for the following three years. The new tax credit coupled with historically low mortgage rates and rising affordability, offers buyers a great opportunity if they act fast.If you’re interested in learning more about the new tax credit or about homes in your area, speak with me soon.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc. does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc. will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.
A Few Good Tools Can Keep Home Together
First there are a few tools that you would want to keep in a handy spot.
· WD-40 oil · duct tape · locking pliers · a flashlight or work light · gloves · tape measure · utility knife · wire cutters · sandpaper of assorted grits · putty knife · speed square · straight edge with right angle · small level · wire · string · screws and nails in various sizes · wood glue and rags.
Even if you aren't handy, there are everyday situations that require a hammer, a screwdriver, a tape measure, or a saw. Even if you live in an apartment there are basic tools that should be in every house, whether you are a do-it-yourselfer or all thumbs. At least have a hammer, screwdriver, and a tape measure. Many manufacturers are coming up with toolboxes that fit in kitchen drawers because the kitchen is an ideal place for tools to be easily accessible. It's better to have the tools at hand where they are needed than having to run to the basement looking for them.
Useful Tools For Special Projects
Although it doesn't fit in most toolboxes, a plunger (maybe two) should be standard in every house. Keep it under the kitchen sink or in the bathroom so you can get to the blockage before it starts doing real damage. A 12-ounce hammer is ideal for banging in nails to hang pictures.
Contractor John Burke is a big fan of pry bars, and carries two or three different kinds. He also carries a small crowbar that provides the right amount of leverage for removing stubborn nails from lumber. The tape measure he uses is 30 feet by 1 inch. Burke said he preferred the newer tape measures that lock automatically and are released by squeezing the bottom. While he admitted that his toolbox is appropriately stocked for a professional, he said he thinks that people should have basic tools for the basic tasks that come up every day. "The two most important things in a toolbox are ear protectors for using power tools and safety glasses," Burke said. "I won't let my kids help me unless they are wearing safety glasses." Mike Mangan, who travels the country as a spokesman for Sears Craftsman tools , agrees. Although his toolbox is better stocked than those of the average homeowner or apartment dweller, Mangan said the most important advice he could offer was to spend money for quality, even if you were buying only a few essential tools . "When you buy a 99- cent screwdriver, you get a 99-cent screwdriver," Mangan said. He suggests a claw hammer weighing 18 to 20 ounces and a rubber mallet that at least can be used to bang a hubcap back on a wheel without denting it. And, Mangan said, "When you buy that tape measure, get one that can be read on both sides." Burke also recommends chalk because it is easier to remove than pencil marks, and a sea sponge, which is useful for smoothing joint compound in minor drywall repairs. The level can be a small as 9 inches, but Mangan said he thinks a 48-inch level is more useful for getting pictures straight when you hang them. Buy a set of screwdrivers with different sizes of Phillips and slotted heads, he said.
Matt Schultz, a preservationist, said he believes that the toolbox should include a corded drill with screwdriver bits because the number of small jobs around any house or apartment will pay back the investment quickly. Because most inexpensive furniture - Ikea's, for example - needs to be assembled, Schultz suggests putting Allen wrenches of various sizes in the toolbox, too. The popularity of computers has created a need for precision screwdrivers - both Phillips and slotted-head - to remove tiny screws that hold screen covers. These tools , once used exclusively by hobbyists, watch- repair people, and jewelers, are useful also for tightening screws that hold eyeglass frames together. Finally, "no matter what you decide to keep in the toolbox, don't forget a first-aid kit or Band-Aids," Schultz recommended
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
· WD-40 oil · duct tape · locking pliers · a flashlight or work light · gloves · tape measure · utility knife · wire cutters · sandpaper of assorted grits · putty knife · speed square · straight edge with right angle · small level · wire · string · screws and nails in various sizes · wood glue and rags.
Even if you aren't handy, there are everyday situations that require a hammer, a screwdriver, a tape measure, or a saw. Even if you live in an apartment there are basic tools that should be in every house, whether you are a do-it-yourselfer or all thumbs. At least have a hammer, screwdriver, and a tape measure. Many manufacturers are coming up with toolboxes that fit in kitchen drawers because the kitchen is an ideal place for tools to be easily accessible. It's better to have the tools at hand where they are needed than having to run to the basement looking for them.
Useful Tools For Special Projects
Although it doesn't fit in most toolboxes, a plunger (maybe two) should be standard in every house. Keep it under the kitchen sink or in the bathroom so you can get to the blockage before it starts doing real damage. A 12-ounce hammer is ideal for banging in nails to hang pictures.
Contractor John Burke is a big fan of pry bars, and carries two or three different kinds. He also carries a small crowbar that provides the right amount of leverage for removing stubborn nails from lumber. The tape measure he uses is 30 feet by 1 inch. Burke said he preferred the newer tape measures that lock automatically and are released by squeezing the bottom. While he admitted that his toolbox is appropriately stocked for a professional, he said he thinks that people should have basic tools for the basic tasks that come up every day. "The two most important things in a toolbox are ear protectors for using power tools and safety glasses," Burke said. "I won't let my kids help me unless they are wearing safety glasses." Mike Mangan, who travels the country as a spokesman for Sears Craftsman tools , agrees. Although his toolbox is better stocked than those of the average homeowner or apartment dweller, Mangan said the most important advice he could offer was to spend money for quality, even if you were buying only a few essential tools . "When you buy a 99- cent screwdriver, you get a 99-cent screwdriver," Mangan said. He suggests a claw hammer weighing 18 to 20 ounces and a rubber mallet that at least can be used to bang a hubcap back on a wheel without denting it. And, Mangan said, "When you buy that tape measure, get one that can be read on both sides." Burke also recommends chalk because it is easier to remove than pencil marks, and a sea sponge, which is useful for smoothing joint compound in minor drywall repairs. The level can be a small as 9 inches, but Mangan said he thinks a 48-inch level is more useful for getting pictures straight when you hang them. Buy a set of screwdrivers with different sizes of Phillips and slotted heads, he said.
Matt Schultz, a preservationist, said he believes that the toolbox should include a corded drill with screwdriver bits because the number of small jobs around any house or apartment will pay back the investment quickly. Because most inexpensive furniture - Ikea's, for example - needs to be assembled, Schultz suggests putting Allen wrenches of various sizes in the toolbox, too. The popularity of computers has created a need for precision screwdrivers - both Phillips and slotted-head - to remove tiny screws that hold screen covers. These tools , once used exclusively by hobbyists, watch- repair people, and jewelers, are useful also for tightening screws that hold eyeglass frames together. Finally, "no matter what you decide to keep in the toolbox, don't forget a first-aid kit or Band-Aids," Schultz recommended
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Thursday, May 21, 2009
Renton House for Sale
Everything is on sale. Now is the time to buy your first home.
Here is a list of homes for sale in Renton for under $200,000.
Click here to view homes for free.
Email or call me.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Here is a list of homes for sale in Renton for under $200,000.
Click here to view homes for free.
Email or call me.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Saturday, May 16, 2009
Home for under $200,000
Some great deals out in the Real Estate Market right now.
Here is a list of homes for under $200,000.
You wont see prices like this again.
TOP PICK
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Here is a list of homes for under $200,000.
You wont see prices like this again.
TOP PICK
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Friday, May 15, 2009
KW CARES Helps Renton Family
Keller Williams Renton WA Helps Out A Former Colleague and His Family RED Day to Honor Mo Anderson
posted by Gary McNinch
posted by Gary McNinch
Today, about 25 of us from the Keller Williams office here in Renton came together to celebrate the First Annual Keller Williams RED Day. Standing for Renew Energize Donate it is the international day of service by the entire Keller Williams Realty Company, which has over 70,000 Realtors in the US and Canade. The Keller Williams motto of God, Family then Business was seen in the service that we completed today.
We chose to help the Steve and Karen Morris family in the Renton Highlands. Steve retired from the military and became a KW Renton agent several years. He was stricken with a MS like disease, which has caused him to have problems with his balance and lack of strength and energy. Steve was unable to continue his real estate business has been unable to work for the past couple of years. Steve and his family (4 kids) have decided to move to a different part of the state where they could be more self sufficient and the cost of housing was much lower.
The Keller Williams Renton office came together to do yard work, help pack household items and transport several loads to a mini storage plus clean and get the home prepared for sale. With over 25 of us enjoying the camaraderie of hard
labor away from the office, we visited, helped out and had a great day. Of course being busy Realtors, the cell phones were ringing on and off as we worked.
The Keller Williams Renton office came together to do yard work, help pack household items and transport several loads to a mini storage plus clean and get the home prepared for sale. With over 25 of us enjoying the camaraderie of hard
labor away from the office, we visited, helped out and had a great day. Of course being busy Realtors, the cell phones were ringing on and off as we worked.Business continued on, Two short sales were approved, a couple new listings went on the market, one referral from across the state was received, and several closings happened as we worked along side the Morris family in the Highlands. The best part of
the day for me was to see the care that was shared with Steve. It was a nice reunion for several folks to catch up with him too.
the day for me was to see the care that was shared with Steve. It was a nice reunion for several folks to catch up with him too.After a contractor replaces the roof, does some minor interior repair, puts in some new carpet, we will put the home on the market, probably in a couple of weeks. And we're gonna donate the seller side of the commission to the family too.
Yes today lots of folks in our office were RED - Renewed (seeing old friends), Energized (working together), Donate (yes, time, energy, labor and love).
Enjoy the photos (Steve is in the chair in front and his kids are standing around him). Steve has had help from his church ( the God part), Family (today we were in RED) and business (yep we are blessed by the give first then receive philosophy). I think is says that in the "Book" and I don't mean the MREA book or the Shift book this time. Tonight I'm tired and really happy too.
KW Cares is our charity, and quietly we donate to a lot of worthy causes. Today we showed that "KW Cares" for a wonderful Renton family. And as our humble friend Steve said, "you guys are so wonderful". Thanks to everybody who helped, lots of hands make for short work and the Renton office proved it again.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Wednesday, May 13, 2009
What to Do When the Sale Price Leaves You Short
If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: Refinancing your loan at a lower interest rate; providing a different payment plan to help you get caught up; or providing a forbearance period if your situation is temporary. When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if:
Your property is worth less than the total mortgage you owe on it.
You have a financial hardship, such as a job loss or major medical bills.
You have contacted your lender and it is willing to entertain a short sale.
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest. A qualified real estate professional can:
Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
Help you set an appropriate listing price for your home, market the home, and get it sold.
Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
Ease the process of working with your lender or lenders.
Negotiate the contract with the buyers.
Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include:
A hardship letter detailing your financial situation and why you need the short sale
A copy of the purchase contract and listing agreement
Proof of your income and assets
Copies of your federal income tax returns for the past two years
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:
If you have only one mortgage, the review can take about two months.
With a first and second mortgage with the same lender, the review can take about three months.
With two or more mortgages with different lenders, it can take four months or longer.
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: Refinancing your loan at a lower interest rate; providing a different payment plan to help you get caught up; or providing a forbearance period if your situation is temporary. When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if:
Your property is worth less than the total mortgage you owe on it.
You have a financial hardship, such as a job loss or major medical bills.
You have contacted your lender and it is willing to entertain a short sale.
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest. A qualified real estate professional can:
Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
Help you set an appropriate listing price for your home, market the home, and get it sold.
Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
Ease the process of working with your lender or lenders.
Negotiate the contract with the buyers.
Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include:
A hardship letter detailing your financial situation and why you need the short sale
A copy of the purchase contract and listing agreement
Proof of your income and assets
Copies of your federal income tax returns for the past two years
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:
If you have only one mortgage, the review can take about two months.
With a first and second mortgage with the same lender, the review can take about three months.
With two or more mortgages with different lenders, it can take four months or longer.
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Wednesday, May 06, 2009
Downtown Auburn
$150,000
222 H St. SE, Auburn
Property Description:
Nicely updated 4 bedroom, 1 bath rambler with a finished basement. 1400+ square feet of cozy living space. Useful floor plan. Large fenced yard in front, fenced off dog run along the side of the house. New 2007 forced air furnace, refinished cabinets & hardwood floors, fixtures and tiled kitchen counter and surround in new bath. Utility room with space for work area or home office.
Call Today For Your Private Showing
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
Lonnie Snyder
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Tuesday, May 05, 2009
Proper Venting of a Fireplace
The draft problem with most fireplaces in tightly-built homes is that the fire lacks sufficient air for combustion unless a window is open. Sometimes this produces smoke indoors. Fireplaces in older homes didn't have this problem because leaks around windows, doors and framing provided plenty of air for combustion. A fireplace with an inadequate air supply can be dangerous. As a fire is starting or going out, it may back up dangerous carbon monoxide into your home. A fire with a strong draft can also interfere with the natural venting of a gas-fired water heater or furnace, causing a back draft of combustion fumes into the home. Any gas-burning appliance vented by gravity up a chimney can have such a problem. One good solution is to install small fresh-air vents that bring outside air directly in the firebox. A qualified brick mason, fireplace contractor, or chimney sweep must install such a system; it is definitely not a do-it- yourself project. The vent must penetrate an outside wall and the side or front of the fireplace. The vent may also need to be combined with fireplace doors. Remember that most natural fireplaces are heat losers when operated in cold weather. Most of the heat goes up the chimney. Fireplaces do work well at removing excessive moisture levels in the winter because they draw lots of air into your home for ventilation (provided a window is open!)
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
Friday, May 01, 2009
Bathroom Mold Problems
If your bathroom has problems with moisture, mildew and peeling paint, an exhaust fan is the best solution. You could have a fan installed in the ceiling or, if that's not practical, perhaps you can put a fan directly in an exterior wall. Reduce bathroom moisture problems by wiping down wet surfaces after a shower and removing wet towels. Keep the bathroom door open after a shower. Consider using a small fan to circulate air into the hall. You can also use a special paint that resists mildew and peeling. First, kill existing mildew with laundry bleach and water. Scrape away any loose paint, and sand the surfaces smooth. Spackle as needed. Then paint with Zinsser brand Perma-White Bathroom Wall and Ceiling Paint. This is a self- priming paint, so apply two coats. See Figure to the left. Zinsser Perma-White is a white semi-gloss paint that can also be tinted. I have used it for several years with great success. It is guaranteed to resist mildew and peeling.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
I Pull Out All The Stops To Sell Your Home
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.Oh, By The Way. . . . . I AM NEVER TOO BUSY FOR REFERRALS.
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