Saturday, August 02, 2008

Most Overpriced ZIP Codes

America's Most Overpriced ZIP Codes
By Matt Woolsey, Forbes.com

Ten spots where buyers pay a huge premium to own relative to how much it would cost to rent.
In San Jose, Calif., home to Silicon Valley and some of the highest home values in the country, a bumper sticker reads, "Dear God, one more bubble before I die."
Chances are the car's driver lives in Willow Glen, a neighborhood with a small-town feel, Spanish-style single family homes and a main street with sidewalk cafes and locally owned shops. To live there, residents are paying the city's highest prices relative to what they could pay to rent similar properties in the same area. When you compare mortgage payments to the value of a similar home on the rental market, the price to buy is 26.1 times higher, one of the biggest differences in the country.
Willow Glen is one example of a neighborhood where homeowners are still taking chances on future appreciation--and paying a premium above and beyond their neighbors for that confidence.
Still, it's not as overpriced as New York's TriBeCa (10013) or Boston's Chinatown (02111), where demand for high-end condos, new development and proximity to downtowns have pumped up prices.
Behind The Numbers
While real estate markets may be slumping across the country, there are plenty of neighborhoods with similar characteristics. These include downtown Seattle (98104), Mission Hills, San Diego (92103) and Coronado, Phoenix (85006).
To find them, we used data from Hotpads.com, an aggregator of rental listings from brokerages and real estate investment trusts, as well as home sales offerings from multiple listing services and individual brokers.
In a report for Forbes.com, Hotpads.com produced a price-to-earnings spread for each ZIP code in the nation's 40 largest cities by comparing rental costs with buying costs for similar properties, based on number of bedrooms, location and price per square foot.
Price-to-earnings, or P/E, expresses how much one has to pay for each dollar of return. A neighborhood with a high P/E is overvalued because a buyer is getting a low return based on costs--and paying a huge premium to live in area relative to how much it would cost to rent a similar property there. In TriBeCa, for example, which is No. 1 on our list, the P/E of the measured property is 36.3.
A high P/E can be a sign of an investment being overpriced, but a rock bottom P/E doesn't mean a bargain. In fact, when you get into the single digits, you're usually buying a weak investment in an area few are interested in. Detroit's 48235, around 7 Mile Road, for example, has a P/E of 3. It is inundated with foreclosed properties and houses going for as little as $25,000. It's hard to put an exact epicenter on Detroit's real estate crash, but this neighborhood is in contention.
High-Priced Properties
Instead, mini-bubbles are created when buyers invest in robust areas where they expect homes will continue to rise in value. If their gamble pays off and the neighborhood appreciates further, today's overpriced buyer is tomorrow's smart investor.
A neighborhood with a very high P/E, like West Hollywood, Calif., where rents trail prices by 30 times, has an expectation of future price increases baked into the cost of buying. It's not prime West Hollywood, but since it's on the edge of nicer parts of town and of affluent neighborhood Los Feliz, it's been attractive to speculators, despite the cost.
But expensive does not mean always mean overpriced.
Limestone townhouses on the Upper East Side of Manhattan, for example, are listed for ever-dizzying prices. Financier J. Christopher Flowers bought a $53 million townhouse on East 75th Street in 2006, and sold a smaller East 73rd Street townhouse undergoing renovation for $23 million in 2007. Expensive? Yes. Overpriced? Not so much. Consider that a five-bedroom mansion on East 74th Street that once belonged to Eleanor Roosevelt is currently listed for $60,000 a month. Prices may be tops in the city, but prime rental prices are peerless as well.
Instead, the country's most overpriced areas are ZIP codes like San Francisco's Outer Sunset neighborhood, 94122, which, given its location near the Pacific Ocean and on the south side of Golden Gate Park, was during the most recent boom widely thought to be up-and-coming. Median prices surged from $560,000 in June of 2003 to a peak of $771,000 in March of 2008, based on Trulia.com price data drawn from California's multiple-listing service.
Sometimes, however, betting on price appreciation doesn't quite work out, and when markets start to soften, speculative areas are often the first to take a hit.
San Francisco as a whole has declined 6% over the last year, but prices in the Outer Sunset have declined 10%, dropping to $692,000. Based on asking prices and asking rents, though, the market still has a way to fall before reaching equilibrium.
Investors and homeowners in the other nine neighborhoods on our list are likely hoping for immunity from this trend.

If you would like more information on your area with what the current real estate market is doing send me an email on your request.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Wednesday, July 30, 2008

Top 10 Mistakes When Buying a home

  1. Looking for a home without being pre-approved. Pre-approval and pre-qualification are two different things. During the pre-qualification process, a loan officer asks you a few questions, then hands you a "pre-qual" letter. The pre-approval process is much more thorough. During the pre-approval process, the mortgage company does virtually all the work associated with obtaining full-approval. Since there is no property yet identified to purchase, however, an appraisal and title search aren't conducted. When you're pre-approved, you have much more negotiating clout with the seller. The seller knows you can close the transaction because a lender has carefully reviewed your income, assets, credit and other relevant information. In some cases (multiple offers, for example), being pre-approved can make the difference between buying and not buying a home. Also, you can save thousands of dollars as a result of being in a better negotiating situation. Most good Realtors® will not show you homes until you are pre-approved. They don't want to waste your, their, or the seller's time. Many mortgage companies will help you become pre-approved at little or no cost. They'll usually need to check your credit and verify your income and assets.
  2. Making verbal (oral) agreements! If an agent tries to make you sign a written document that is contrary to their verbal commitments, don't do it! For example, if the agent says the washer will come with the home, but the contract says it will not--the written contract will override the verbal contract. In fact, written contracts almost always override verbal contracts. When buying or selling real estate, abide by this maxim: Get it in writing!
  3. Choosing a lender because they have the lowest rate. Not getting a written good-faith estimate. While rate is important, you have to consider the overall cost of your loan. Pay close attention to the APR, loan fees, discount and origination points. Some lenders include discount and origination points in their quoted points. Other lenders may only quote discount points, when in fact there is an additional origination point (or fraction of a point).This difference in the way points are sometime quoted is important to you. One lender will quote all points, while another lender may disclose an extra point, or fraction thereof, at a later time--an unwelcome surprise. Within 3 working days after receipt of your completed loan application, your mortgage company is required to provide you with a written good-faith estimate (GFE) of closing costs. You may want to consider requesting a GFE from a few lenders before submitting your application. With a few GFEs to compare, you can get a feel for which lenders are more thorough, and you can educate yourself regarding the costs associated with your transaction. The GFE with the highest costs may not indicate that a particular lender is more expensive than another--in fact, they may be more diligent in itemizing all fees.The cost of the mortgage, however, shouldn't be your only criteria. There is no substitute for asking family and friends for referrals and for interviewing prospective mortgage companies. You must also feel comfortable that the loan officer you are dealing with is committed to your best interests and will deliver what they promise.
  4. Choosing a lender because they are recommended by your Realtor®. Your Realtor is not a financial expert. He or she may not know which loan is best for you. Your Realtor® gets a commission only when your transaction closes. As a result, the Realtor® may refer you to a lender who will close your loan, but who may not have the best rates or fees. Also, many Realtors® refer you to one of their friends in the loan business--who also may not have the best rates or fees. Although most Realtors® are professional and concerned about your best interests, you should do your own homework. I recommend shopping for a loan with at least three mortgage companies before you make a decision. There are countless stories of consumers who ended up paying higher rates, or got a loan that wasn't right for them, because they blindly followed their Realtor's® advice.
  5. Not getting a rate lock in writing. When a mortgage company tells you they have locked your rate, get a written statement detailing the interest rate, the length of the rate lock, and other particulars about the program.
  6. Using a dual agent (an agent who represents the buyer and seller in the same transaction). Buyers and sellers have opposing interests. Sellers want to receive the highest price, buyers want to pay the lowest price. In most situations, dual agents cannot be fair to both buyer and seller. Since the seller usually pays the commission, the dual agent may negotiate harder for the seller than for the buyer. If you are a buyer, it is usually better to have your own agent represent you. Proceed cautiously and do your homework!
  7. Buying a home without professional inspections. Taking the seller's word that repairs have been made. Unless you're buying a new home with warranties on most equipment, it is highly recommended that you get property, roof and termite inspections. These reports will give you a better picture of what you're buying. Inspection reports are great negotiating tools when it comes to asking the seller to make repairs. If a professional home inspector states that certain repairs need to be made, the seller is more likely to agree to making them. If the seller agrees to make repairs, have your inspector verify the completed work prior to close of escrow. Do not assume that everything will be done as promised.
  8. Not shopping for home insurance until you are ready to close. Start shopping for insurance as soon as you have an accepted offer. Many buyers wait until the last minute to get insurance and find they have no time left to shop around.
  9. Signing documents without reading them. Do not sign documents in a hurry. As soon as possible, review the documents you'll be signing at close of escrow--including a copy of all loan documents. This way, you can review them and get your questions answered in a timely manner. Do not expect to read all the documents during the closing. There is rarely enough time to do that.
  10. Making moving plans that don't work. You expect to move out of your current residence on Friday and into your new residence over the weekend. Also on Friday, your lease terminates and the movers are scheduled to appear. Friday morning arrives: bags packed, boxes stacked, children under arm and the dog on a leash; you're sitting on your front door stoop awaiting the arrival of the movers. Your phone rings. Your loan closing is delayed until the following Tuesday. The new tenants turn into your driveway with a weighted-down U-Haul and the movers pull up across the street. You ask yourself, "Where's the nearest Motel 6 and storage facility? How much will the movers charge for an extra trip? Can we afford it?" How can you avoid such a disaster? Cancel your lease and ask the movers to show up five to seven days after you anticipate closing your transaction. Consider the extra expense an insurance policy. You're buying peace of mind--and protecting yourself from expensive delays.

Lonnie Snyder

REALTOR®

Keller Williams Realty Southeast Sound

Phone: 206-406-2710

E-Mail : 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.

Monday, July 28, 2008

Hunt for a home: Searching for a dream home often feels more like a nightmare

The house was perfect.
The 1950s rambler in Bellevue's Lake Hills neighborhood was in good condition, had three bedrooms, one bathroom and a little patio out back where Rebecca McCuen could hold cocktail parties. The commute to her job at Microsoft would have been short. And the price was right for McCuen: $360,000.
She quickly bid on the house, but someone else beat her to it. She lost her perfect house. "I felt kind of let down," said McCuen, 32, who was shopping for her first house. "I felt like if I can't have that house, I don't want any house." Disappointed, she mulled her options. She wanted a two- or three-bedroom house under $400,000 in a good school district with a big yard for her 19-month-old toddler.
As a first-time homebuyer, she figured she wouldn't be able to afford her dream house, so she set her sights on a house she could live in for a few years to build equity. She paid off her school loans, consolidated her credit cards, and paid off her car. She put more money into her savings account and lined up 100 percent financing for a house. In February, she was ready to look again.
A month later, she found a three-bedroom rambler in Kenmore's Finn Hill neighborhood for $382,000 that sounded promising. It needed work, but McCuen made an offer for $10,000 less. She and the sellers countered a couple more times, but McCuen went with her gut and decided to keep looking. "It sounds strange, but I go along with my vibes," she said. "And I didn't feel right about this house." Her agent, Lonnie Snyder of Keller Williams Real Estate in Renton, suggested they expand their search south to Renton. A few days later, Lonnie called to tell her that a three-bedroom, two-bath home in Renton had gone on the market for $345,500 the day before. The house had wood floors, new appliances, natural gas, two fireplaces, copper pipes and a spacious family room. Would she be interested in seeing it? McCuen and her boyfriend checked it out on her lunch break. "We walked in and said, 'This is the house,' " she said. McCuen offered $335,000. She included an escalator clause that allowed her to add $2,000 over the highest bid and didn't include a cap if the bidding rose. Paul, a former home inspector, told her the house was in good shape: It had newer wiring, a good foundation, and old-growth timber that was more resistant to pests. Four buyers, including McCuen, made offers the next day. Lonnie decided to turn up the heat and pleaded her case directly to the sellers. He brought a letter McCuen had written explaining why she wanted the house, told them she was preapproved for a loan, and was a single mother and needed to be closer to work. "We had to show she was the best candidate even though she had 100 percent financing," he said. Lonnie told her to have her cellphone with her at 6 p.m. so he could call her about the meeting. While she waited, she picked her daughter up from day care and headed back to work to be near a fax machine. At 6 p.m., the agent called. "We got it," he said. She won the house with a bid of $352,500 — her escalator clause kicked in. McCuen was excited, but she was also relieved that she wouldn't have to haggle with sellers or plot strategies anymore. "I didn't have a lot of faith in the bidding process," McCuen said. "For me, buying a house was a totally stressful, scary thing."

I pull out all the stops to sell your home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Wednesday, July 23, 2008

IKEA Renton River Days

This year marks Renton’s 23rd annual festival and celebrates the 10th anniversary with IKEA as the festival’s Title Sponsor. “Explore the Heart of Renton” is more than a theme for 2008 IKEA Renton River Days. It’s an invitation to explore the diverse offerings that highlight Renton’s passion for music, art, food and active lifestyle.
Festival favorites include Kids’ Day, Senior Day Picnic, stage entertainment, Nibble of Renton, Art Market, Renton Annual Art Show, Quilt Show, Chalk Art Contest, Petting Zoo, Parade, Wakeboard Invitational, and Rubber Ducky Derby. For the active, don’t miss the youth Six-A-Side Soccer Tournament, Golf Tournament, Volkssport Fun Walks, and Tennis Tournaments.
Join the fun and help volunteer on Kids' Day, July 23, or our main 3-day weekend, July 25-27. Download the Festival Volunteer Application at http://www.rentonriverdays.org/. Volunteer opportunities include assisting with children's activities, the Information Booth, Parade and much more.
For the complete list schedule of festival events with dates, times, and locations call (425) 430-6528 or visit http://www.rentonriverdays.org/.2008

Festival Highlights

• Wednesday, July 23, Kids’ Day, 11am-5pm, Liberty Park
• Friday-Sunday, July 25-27, Main Festival Weekend, 11am-8pm, Liberty Park
• Saturday, July 26, Parade, 10am, S. 3rd St.
• Sunday, July 27, Rubber Ducky Derby, 4:30pm, Houser Street Bridge & the Cedar River

Sunday, July 20, 2008

10 Hot Tips for Investing in 'Me Time' - The Whole Family Will Profit

If you're like many parents, you're probably thinking, 'Me time? You must be kidding!' Juggling family demands and working long hours mean that you put time for yourself way, way on the back burner.Yet, you know that to feel well and function at your best, spending some time on your own health is a must. Your family needs you to take care of you, so everyone benefits when you invest even a few minutes to eat right, exercise and relax. As a bonus, you'll serve as a role model to teach your kids about the importance of self care and self esteem. Try some of the 10 tips below to find a little 'me time' in your busy day.
1. Make it short, but sweet. Even the busiest person can spare 10 minutes to recharge and refresh. Sip a cup of tea, call a friend, read your favorite magazine or just put up your feet and day dream.
2. Make a date with yourself. You're more likely to find time to take an exercise class or soak in a relaxing bath if you schedule it right on your calendar.
3. Forget perfection. In the evening, don't worry if that last load of towels isn't folded and put away. If a task can wait, use the time to unwind instead.
4. Bag it. Take your lunch to work and spend your lunch hour taking a walk, window shopping or getting a manicure.
5. Buddy up. Promising a friend you'll go for a walk or join a book club together makes you more likely to keep the commitment.
6. Get your ZZZZZs. Shortchanging yourself on sleep almost guarantees you'll be less productive the next day. Leave an unimportant chore undone or turn off the TV a bit early so you can turn in sooner.
7. Start a babysitting exchange. Trade off on babysitting duty with a friend or neighbor so you and your spouse can go out on a 'date.'
8. Multiply a recipe. It doesn't take much extra time to double or triple a batch of your family's favorite soup, chili or casserole. Freeze the extra for another night and use the time saved for yourself.
9. Enlist the kids. Assigning the kids their own household jobs strengthens their sense of responsibility and frees up some time for you.
10. Mellow out on your own time. Buy a yoga or meditation DVD or video tape to use when it's convenient for you.

Kidnetic.com
Kidnetic.com is a healthy eating and active living website for kids and families. Kidnetic.com combines food, fitness, fun, feelings and family dynamics, all rolled up into an interactive and educational site. The website provides a non-commercial internet resource geared toward kids ages 9 – 12 and their parents. In addition to providing great games and information to keep kids active and learn to eat healthier, Kidnetic.com also has a special section just for parents, packed with information for every parent with any question on nutrition or physical activity.

Monday, July 14, 2008

How can I avoid private mortgage insurance?

If you have a loan amount that exceeds 80 percent of the value of the property, you can avoid private mortgage insurance (PMI) by breaking the mortgage in two. Let's say you have 10 percent down and you can get a first mortgage for 80 percent and a second mortgage for 10 percent of the price. Many lenders will not charge PMI with this financing arrangement. Another way around PMI with a high loan-to-value mortgage is to use a portfolio lender. Portfolio lenders generate loans to hold in their own portfolio, not to sell to other investors. Many portfolio lenders self-insure for PMI. To cover the cost of self-insuring, the lender charges the borrower a higher interest rate. Because mortgage interest is tax-deductible, that can work to your favor. Consult your tax advisor.

I pull out all the stops to sell your home.
Lonnie Snyder
REALTOR®
Keller Williams
Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Thursday, July 10, 2008

Nascar Update:

When things are going your way, it often seems as if nothing can work against you. Such is the case for young Kyle Busch, who notched his sixth victory of the season -- and fifth in the last 10 races -- in a wild shootout in the Coke Zero 400 from Daytona International Speedway Saturday night.
Four caution flags thrown in the final 20 laps marred what was a relatively clean event. A wreck with four laps to go when Jimmie Johnson was spun by Dave Blaney collected polesitter Paul Menard, Regan Smith, David Reutimann, Denny Hamlin and J.J. Yeley, who was driving in relief for Tony Stewart.
The race then went to a green-white-checker finish -- and the fireworks were about to start. Kyle Busch led Jeff Gordon, Carl Edwards, Matt Kenseth and Kurt Busch to the green when Gordon threw a block on the 99 of Edwards. Gordon's left rear clipped Edwards' nose and was sent spinning but came to rest deep to the inside apron of the track, allowing the race to remain green.
"Everybody was laying back and trying to get a run on that last restart," Gordon said of this final restart. "They got the jump on me and I tried to block them and I don't know, maybe I came across his nose, I don't know. I'm probably more mad at myself than anything else."
As the field took the white flag a bevy of cars mid-pack banged off one another and critical-mass came in Turn 1 as Sam Hornish Jr., Clint Bowyer, Michael Waltrip, Travis Kvapil, Reed Sorenson and J.J. Yeley were involved in a massive pileup. The race was frozen at that point and after review by NASCAR officials, Kyle Busch was deemed the race winner.
"Well, it was close, I knew that," Busch said. "When I did see the yellow light come on, I could barely see the nose of the 99 car (Edwards) at my right-front fender. I was hoping that we were the winners and it ended up that way."
"I wasn't sure until we were going down the back straightaway (who won)," Edwards said. "(Spotter) Jason Hedlesky told me. He said, 'the 18 to Victory Lane.' I was pretty sure, though, (based on) where we were running when the yellow light came on. Right as I was going by it, I was getting a run on his door so I was probably second."
Behind Busch and Edwards, Matt Kenseth, Kurt Busch and David Ragan rounded out the top five.

Wednesday, July 09, 2008

10 Ways to Lower Your Car Insurance Costs

With the price of just about everything increasing, everyone is looking for ways to save. Maybe you skip your morning stop at the coffee shop or bring your lunch to work. One way to save that many people forget about is saving on your car insurance.

Compare Car Insurance Rates Every 6 Months
If you check your car insurance rates in January, make sure your check them again in July. Tickets or no tickets, you're a different driver than you were last summer. Get updated quotes and see what your individual savings could be.

Raising Your Deductible Can Save You Money
Simply put, the higher your deductible, the lower your premium. Indeed the cost of an accident will be that much more expensive; however, if the damage is minor, you'll be spending the same out-of-pocket amount regardless.

Don't Pay in Monthly Installments
Additional administrative fees are commonly applied to payments when you split your premium in to installments. A monthly fee of even $7 can add up to $84 over 12 months.

Insure Your Home and Car with the Same Company
One of the most under utilized car insurance discounts is the multi-line insurance policy: buying your auto insurance and your homeowners insurance from the same insurance company. According to the Insurance Information Institute, a multi-line policy can save you up to 15% on both premiums.

Good Driving Equals Lower Rates
Most insurance companies reward good driving with lower premiums. In fact, in some states a good driving discount is required by law. If you haven't had any accidents or tickets in the last three to five years, compare car insurance quotes to find savings.

Don’t Pay More Than You Have to for a Ticket
Unfortunately moving violations are an accurate reflection of your liability to a car insurance company, and your rates will be affected accordingly. Even if you have a ticket on your driving record, you might find a reasonable rate with another company.

Safe Cars Mean Car Insurance Savings
Many companies offer discounts for various safety features on your vehicle, including air bags, alarms, factory-installed mechanical seatbelts and antilock brakes. In getting updated insurance quotes, be sure to indicate such safety features to benefit from available discounts.

Eliminate Unnecessary Coverage
You may be paying for coverage that you don't need. For example, you may be a member of an auto club that provides towing services, yet you're also paying for towing on your auto insurance policy. Look for opportunities to eliminate unnecessary coverage.

Good Grades and Your Golden Years Can be Insurance Savings
Students currently enrolled in school often receive a discount on auto insurance for good grades, as many companies feel conscientious students make conscientious drivers. Similarly, insurance companies are known to value the wisdom of an experienced driver, offering discounts to drivers over 50 as a result.

Pay Less for Driving Less
Has your commute to work changed? If you’re driving less miles to get to work, notify your car insurance provider about qualifying for their low mileage discount.

Visit www.InsWeb.com to compare auto insurance quotes from top providers today.

I pull out all the stops to sell your home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Tuesday, July 08, 2008

When You’re Patio Door Sticks and Rubs

Yes it’s that time of the year when we get to enjoy the wonderful weather that we have here in Seattle, Renton WA. Now we all need to keep up on our maintenance and your seldom used screen doors are no different. So what can you do with a sticking sliding door?

Hints To Correct Sliding Doors
Almost every sliding patio screen door in the world sticks, because few homeowners know they can adjust the rollers that run in the track. You still need to keep the track clean, but adjusting the rollers is the key.

The Base Of The Door Sliding Doors
Look at the base of the door; you will see two small Phillips screw heads. They will be above the frame or in the side of the door, near the bottom. Tightening these screws lowers the rollers and lifts the door so the door rolls on the rollers without rubbing the frame.

Roller Adjustments Top Rollers
Most doors have a similar roller adjustment for the top rollers. If the door is tight or bound in the frame, loosen these top screws to allow the door to be raised when lowering rollers and screws. Don't adjust the door to the point that it's squeezed between the top and bottom frame. When you adjust the rollers, clean the track. Then spray a light lubricant on the frame and track.

Hope you are able to enjoy the warm summer days.

I also love a good BBQ. If you have good recipe please email it over to me.

I pull out all the stops to sell your home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Thursday, July 03, 2008

Foreclosure: What It Means, How It Works

Foreclosure is the process through which a lender can sell or repossess (take ownership of) a property in order to recover the amount owed on a defaulted loan secured by the property. Anyone worried about missing their home payments--or those thinking about purchasing a foreclosure property--should understand how foreclosures work.
State laws govern the foreclosure process, and they vary from state to state. You'll want to check with your own state to learn the details, including whether a judicial procedure is required.
Following is a broad-brush summary of the three stages of foreclosure, assuming the homeowner fails to satisfy the repayment obligation along the way.

Pre-foreclosure. This stage begins when the homeowner falls behind on home-loan payments (or sometimes other terms of the loan). Lenders may wait for a second, third or even fourth missed payment before sending the homeowner a "default" notice--which becomes public record. The homeowner then has a given period of time to respond to the notice and/or come up with the outstanding payments and fees--often by selling the home. (If a judicial procedure is required, it occurs after the default notice is given.)

Foreclosure. At this stage, the former homeowner may or may not have been evicted (depending on state law) when the lender puts the home up for public auction (after a judgment of foreclosure in those states requiring judicial procedure). If the home sells at auction, money from the sale is used to pay off the costs of the foreclosure, tax and other prior liens, service charges and advances, interest and principal on the mortgage, late charges or fees, and liens recorded after the first mortgage. Any amount left over is paid to the borrower (former homeowner). Often, however, proceeds of the sale are less than the various amounts owed, in which case the lender may be able to hold the borrower responsible for the difference.

"Real Estate Owned." A foreclosed property that does not sell at auction--either because no one bid on it or bids were too low to cover the outstanding loan--becomes the property of the lender (or government agency that guaranteed the loan--HUD, VA, etc.). Most lenders prefer to list their "real estate owned (REO)" homes for sale through real estate brokers, rather than keeping them or managing the sale of REOs themselves.

I pull out all the stops to sell your home.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Nascar Update:

Oftentimes in racing, the fastest car does not win. A combination of strategy and luck can take a car that lagged mid-pack all race and propel it to Victory Lane. Such was the case in Sunday's LENOX Industrial Tools 301 from New Hampshire Motor Speedway, where Kurt Busch and crew chief Pat Tryson opted not to pit during a late-race caution period and assumed the lead just before the rains came.

"These guys made an awesome call," Busch said. "Sometimes you just don't win 'em the right way. I think we can honestly say that, but we had a lot of work and a lot of effort put in today and we'll take it."

A wreck involving Dale Earnhardt Jr., Jamie McMurray and David Ragan with 30 laps remaining set up the dramatic conclusion. Tony Stewart, Jimmie Johnson, Jeff Gordon, Kevin Harvick and a host of other leaders came down pit road to get fuel as a storm cell neared the facility. Busch, Michael Waltrip, J.J. Yeley, Martin Truex Jr., Elliott Sadler, Reed Sorenson and Casey Mears all stayed out, gambling the rain would hit before the end of the scheduled distance.

The race restarted with Busch on point but went yellow on the first green flag lap due to a spin involving Clint Bowyer and Sam Hornish Jr. As the cars circled behind the pace car, the rain set in and NASCAR immediately pulled the cars down pit road. A few moments later, the sanctioning body called the event, with Busch claiming the victory.

"We had a pretty good car all day," crew chief Pat Tryson said. "We topped off the fuel and were pretty close to make it to the end. We were hoping for some cautions, we got them and I told Kurt that we were going to stay on track and take a gamble. Today it worked and it got us a win."

Waltrip, Yeley, Truex and Sadler rounded out the top five.

Tuesday, July 01, 2008

Sea Fair Fourth Of July Splash

Seafair Pirates Landing
July 5
Allstate Milk Carton Derby
July 5

32nd Annual Lake Union Wooden Boat Festival
July 4 - 6
Location: The Center for Wooden Boats (1010 Valley St.) and South Lake Union ParkTime:10 a.m. - 6 p.m.
Parade: Boat Parade, Schedule TBD
Admission: Donations accepted
Contact: Eldon Tam (206) 382-2628
Email: eldon@cwb.org
Web site: http://www.cwb.org/
Description: The Lake Union Wooden Boat Festival is a multi-day event featuring over 100 visiting vessels. You will enjoy live music, on-shore skill deomstrations, food vendors and plenty of classic wooden boats ranging from motorized lauches and runabouts to sailboats, rowing craft and large cruisers. The kids will enjoy making their own toy boat and sailing models in the sailing pond. In past years, the festival has exhibited many of the vintage hydroplanes that have raced and won at Seafair.

Allstate Insurance Company Milk CartonDerby at Seafair
Dates: Saturday, July 5
Location: Southwest Shores of Green Lake, Seattle
Times: 10 a.m. - 4 p.m.
Admission: Free
Contact: Seafair (206) 728-0123
Seafair is proud to welcome Allstate Insurance Company as the title sponsor of the 2008 Milk Carton Derby!
The 37th annual Allstate Milk Carton Derby at Seafair will kick-off an action-packed Seafair summer 2008. Nearly 100 colorful milk carton boats of all shapes and design will compete for $10,000 in prizes. The derby is highlighted by a full day of boat-building "competition" as children, adults, families and businesses build milk carton watercraft for show and racing on Green Lake.
Registration available now!
Milk Carton Derby Rules/Instructions

Activities on water... and on land!For those looking to stay dry, there will be plenty of activities on shore as well. Make sure to check out the Children's Show at noon, which is sure to excite the crowd. The Sea Gals will be onsite signing autographs, pig petting will be available to all, bounce house fun for the kids and plenty of food booths will line the shore.

Monday, June 30, 2008

Moving to Renton or Kent WA.?

Thinking about moving to Seattle Wa. or a close neighboring city like Renton or Kent?
How Far Will Your Salary Go In A Different City?
Info for Relocating to Renton WA?

Just like real estate markets differ from town to town, so does the Cost of Living. If you are relocating to Renton or Kent you need to know how far your money will go. And of course you will need a local Renton relocation Realtor.
Courtesy of CNNMoney, this helpful calculator measures the change in living expenses a person would face when moving between any two major cities in America.
The key expenses compared are:
Groceries
Housing
Utilities
Transportation
Healthcare
The comparison data is provided by
C2ER which, on its own Web site, charges $4.95 for each city-to-city comparison. At CNNMoney.com, the exact same C2ER data is licensed and available for free.

If you are
relocating to Renton give me a call or sign up for our free Renton relocation packet. We know about the home values in Fairwood, new home developments in Renton Highlands, condo and townhomes at the Landing in downtown Renton, and estate homes in Newcastle. Plus, we can tell you about the Renton schools, churches and shopping in Renton. These are all critical to quality of life for you and your family. When you are ready to move to Renton, Call Lonnie Snyder so I can help you out. I have been helping our many satisfied customers for a long time.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Saturday, June 28, 2008

Updated Renton Real Estate, Newcastle Real Estate & South Bellevue Real Estate Market Statistics (As of June 27th, 2008)

These numbers are based on a three month historical analysis that is updated on a weekly basis.
MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 97 Days (Up from 95 Last Week)
Inventory of Active Listings: 610 (Up from 590 Last Week)
Inventory of Sold & Pending Listings: 225 (Up from 252 Last Week)
75 listings are absorbed by demand each month on average. (Up From 74 Last Week)
8.13 Months Worth of Supply (Up from 7.97 Last Week)
Average List Price: $891,839 (Up From $887,468 Last Week)
Average Sale Price: $736,723 (Up From $736,144 Last Week)
Median Sale Price: $620,500 (Up from $615,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Single Family Homes: This area favors buyers over sellers based on the fact that there is an 8.13 month supply of homes. This means that if no additional homes were listed, it would take 8.13 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

Condominiums
Average Days on Market: 78 Days (Up from 68 Last Week)
Inventory of Active Listings: 157 Active Listings (Up from 149 Last Week)Inventory of Sold & Pending Listings: 83 (Up from 80 Last Week)
28 listings are absorbed by demand each month on average. (Up From 27 Last Week)
5.6 Months Worth of Supply (Up From 5.5 Last Week)
Average List Price: $336,125 (Up From $333,526 Last Week)
Average Sale Price: $347,825 (Up From $342,746 Last Week)
Median Sale Price: $329,000 (Up From $320,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for condos: This area is balanced between buyers and sellers based on the fact that there is a 5.6 month supply of homes. This means that if no additional homes were listed, it would take 5.6 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood)
Single Family Homes
Average Days on Market: 101 Days (No Change From Last Week)
Inventory of Active Listings: 467 (Up from 455 Last Week)
Inventory of Sold & Pending Listings: 268 (Up from 265 Last Week)
89 listings are absorbed by demand each month on average. (Up from 88 Last Week)
5.2 Months Worth of Supply (Down from 5.7 Months Last Week)
Average List Price: $570,915 (Down From $573,048 Last Week)
Average Sale Price: $477,312 (Up From $476,012 Last Week)
Median Sale Price: $415,000 (Down From $424,740 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Single Family Homes: This area favors sellers over buyers based on the fact that there is a 5.2 month supply of homes. This means that if no additional homes were listed, it would take 5.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

Condominiums
Average Days on Market: 82 Days (Up from 78 Last Week)
Inventory of Active Listings: 95 Active Listings (Up from 89 last week)Inventory of Sold & Pending Listings: 37 (No Change from Last Week)
12 listings are absorbed by demand each month on average. (Up from 10 Last Week)
7.9 Months Worth of Supply (Up from 7.4 Months Last Week)
Average List Price: $255,001 (Up From $253,102 Last Week)
Average Sale Price: $250,397 (Up From $241,593 Last Week)
Median Sale Price: $245,000 (Up From $227,500 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for condos: This area is favors buyers over sellers based on the fact that there is a 7.9 month supply of homes. This means that if no additional homes were listed, it would take 7.9 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 97 Days (Up From 93 Last Week)
Inventory of Active Listings: 410 (Down From 411 Active Listings Last Week)
Inventory of Sold & Pending Listings: 188 (Up From 186 Last Week)
63 listings are absorbed by demand each month on average. (Up from 62 Last Week)
6.50 Months Worth of Supply (Down from 6.62 Months worth of Supply Last Week)
Average List Price: $439,958 (Down From $441,558 Last Week)
Average Sale Price: $369,938 (Down From $373,790 Last Week)
Median Sale Price: $361,500 (Down From $363,000 Last week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.50 month supply of homes. This means that if no additional homes were listed, it would take 6.50 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
Condominiums
Average Days on Market: 84 Days (Down from 85 Last Week)
Inventory of Active Listings: 112 Active Listings (Up from 109 Last Week)
Inventory of Sold & Pending Listings: 53 (Up from 52 last Week)
18 listings are absorbed by demand each month on average. (Up From 17 Last Week)
6.2 Months Worth of Supply (Down from 6.4 Last Week)
Average List Price: $233,371 (Down From $234,030 Last Week)
Average Sale Price: $214,240 (Down From $232,259 Last Week)
Median Sale Price: $207,500 (Down From $230,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Condos: This area is balanced between buyers and sellers based on the fact that there is a 6.2 month supply of homes. This means that if no additional homes were listed, it would take 6.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at www.CallSnyder.com where you can access my Market Snapshot research tool found on the left side of the homepage.

This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Tuesday, June 24, 2008

What are some typical closing costs?

When you apply for a mortgage, the lender must respond with a Good Faith Estimate of Closing Costs, which explains the costs you will likely have to pay at settlement. But the numbers on the form are estimates, and the final tally could be higher or lower.


Some of the more common charges are:
Loan Origination Fee: usually 1% of the loan;
Loan Discount Points: a form of accelerated interest; each point is 1% of the loan amount (who pays points is negotiable between buyer and seller);

Appraisal Fee: the charge to have a professional appraiser certify the value of the property being purchased;
Credit Report: the cost of getting a credit history from a credit service;
Tax Service Fee, Document Preparation Fee: charges to set up a tax escrow account and prepare mortgage documents;
Attorney Fees: the settlement agent's charges for processing the sale closing;
Title Insurance: charges for insurance to guarantee the validity of the property's title for the lender; buyers can also purchase title insurance at settlement to protect their interests;
Recording Fees, Tax Stamps: local charges to officially record the deed and mortgage, and transfer taxes;
Survey: the charge to verify the boundaries of the property being purchased.

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.

I pull out all the stops to sell your home.

Lonnie Snyder

REALTOR®

Keller Williams Realty Southeast Sound

Phone: 206-406-2710

E-Mail : snyder@kw.com

Website: http://www.callsnyder.com/

Blogsite: http://renton-real-estate.blogspot.com/

Tuesday, June 17, 2008

When selling, think like a buyer

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.

I pull out all the stops to sell your home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/



It's June, which means it's officially the start of moving season.
Moving companies — or relocation services, as they now call themselves — are always busiest during the summer season, which in the moving world lasts through September.
If you're trying to sell your home, the folks at Allied Van Lines have some tips. We all know that curb appeal is a key part of snagging potential buyers, so Allied has enlisted the help of Daniel Owens, landscape designer on the HGTV show Curb Appeal.
So how do you enhance this magical curb appeal?
"The main thing is to accentuate whatever is positive about the home," Owens says.
Well, yeah, but how?
You can start by taking a good, hard look at it. Not the swift, forgiving glance you usually give it as you drive off every morning — but a long, dispassionate, critical gaze.
Walk across the street and try to see your home through a stranger's eyes.
He suggests that you take a picture of it to defamiliarize. Or ask a couple of neighbors for a critique. Does anything look worn-out or in need of fresh paint? Is there an element that just doesn't fit — ugly screens, odd-looking shutters, scraggly ivy? Get rid of it, whatever it is, or paint it to make it less noticeable.
A little paint can brighten up a home like nothing else. Try a different-colored trim and you may be surprised at how different your house looks. But be careful. If you're trying to sell your house, play it safe. Neutral tones look good on just about any house — sage green, ivory, warm brown.
You might also get some ideas if you look at other houses in the neighborhood. They're likely to be made of similar materials, and you can tell immediately which colors work and which ones don't.
One place you can be a little bolder? The front door. Ideally, people should see your front door from the street, and a color that pops will help them find it.
It's also good to create a welcoming pathway to the door. Put down some stepping stones, maybe, or a few well-placed plants that lead to the entrance.
Finally, pay attention to the details. It's often the small things that will catch a buyer's eye. Put some plants in containers and use them to showcase the entrance. Add a garden bench or a birdbath to add interest to the landscape. Check to see if your accessories coordinate. If the mailbox, front door handle and house numbers have the same finish, it makes your house look put together.
Take a look at your lighting; the bigger the light fixture, the bigger the effect, Owens says. Something large and dramatic-looking will make the house look grander.
And for heaven's sake, invest in a nice doormat.
"Oftentimes, I'll go to these beautiful homes, and people have the nastiest doormats," Owens says.


I pull out all the stops to sell your home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Monday, June 16, 2008

Will a neighbor problem reduce the value of my property?

While it may not reduce the actual value, a cluttered landscape next door can detract from the positive aspects of your home. Review your local laws, which should be on file at the public library, county law library or City Hall.

A typical "junk vehicle" ordinance, for example, requires any disabled car to either be enclosed or placed behind a fence. And most cities prohibit parking any vehicle on a city street too long. It also may be worthwhile to check into local zoning ordinances.

An operator of a home-based business usually is required to obtain a variance or permanent zoning change in residential areas. In addition, if a neighbor's repair work produces loud noises, he may be breaking local noise-control ordinances, which are enforced by the police department. Before bringing in the authorities, you may want to make a copy of the pertinent ordinance and give it to your neighbor to give them a chance to correct the problem.

I pull out all the stops to sell your home.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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

Friday, June 13, 2008

Updated Renton Real Estate, Newcastle Real Estate & South Bellevue Real Estate Market Statistics (As of June 13th, 2008)

These numbers are based on a three month historical analysis that is updated on a weekly basis.

MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 93 Days (No Change From Last Week)
Inventory of Active Listings: 603 (Up from 591 Last Week)
Inventory of Sold & Pending Listings: 225 (Up From 165 Last Week)
Average List Price: $888,917 (Up from $888,342 Last Week)
Average Sale Price: $751,967 (Up from $737,816 Last Week)
Median Sale Price: $623,000 (Up from $615,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Single Family Homes: This market has seen rate increases for three weeks in a row. However, the area still favor buyers over sellers. A market is considered balanced when the supply of homes is closer to a six month supply.

Condominiums
Average Days on Market: 77 Days (Up From 67 Last Week)
Inventory of Active Listings: 158 Active Listings (Up from 149 Last Week)
Inventory of Sold & Pending Listings: 80 (Up from 52 Last Week)
Average List Price: $335,146 (Down from $335,408 Last Week)
Average Sale Price: $346,088 (Up from $337,467 Last Week)
Median Sale Price: $325,000 (Up from $315,500 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for condos: The condo market in MLS Area 500 had been fighting to stay within buyer territory for the last three months with moderate success. There was a small boost in the average sale price. Looks like summer is here.

MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood)
Single Family Homes
Average Days on Market: 102 Days (No Change From Last Week)
Inventory of Active Listings: 462 (Up from 453 Last Week)
Inventory of Sold & Pending Listings: 266 (Down from 181 Last Week)
Average List Price: $526,687 (Down from $565,097 Last Week)
Average Sale Price: $486,395 (Up from $474,348 Last Week)
Median Sale Price: $425,000 (Down from $420,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Single Family Homes: Last week’s numbers show that buyer activity remained strong with average days on market holding steady .Things look great for buyers which means the same is true for sellers who are willing to price their homes correctly in this MLS Area.

Condominiums
Average Days on Market: 78 Days (Up from 75 Last Week)
Inventory of Active Listings: 94 Active Listings (Up from 89 last week)
Inventory of Sold & Pending Listings: 36 (Down from 37 last Week)
Average List Price: $250,116 (Up from $249,390 Last Week)
Average Sale Price: $243,280 (Down from $241,593 Last Week)
Median Sale Price: $245,000 (Down from $254,990 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for condos: Real estate trends indicate a shift a market that favors buyers over sellers in this MLS Area. A market with a six month supply of homes is considered balanced between buyers and sellers. A market with less than a six month supply of homes typically favors buyers. Buyers are taking advantage of the over pricing here.

MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 95 Days (Up From 94 Last Week)
Inventory of Active Listings: 403 (Down from 409 Active Listings Last Week)
Inventory of Sold & Pending Listings: 189 (Down from 190 Last Week)
Average List Price: $441,179 (Down from $442,052 Last Week)
Average Sale Price: $369,405 (Down from $374,352 Last Week)
Median Sale Price: $359,950 (Down from $388,407 Last week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Single Family Homes: Based on the numbers where everything went down basically says there are buyers out there but they are only interested in the homes that are priced correctly for their condition and location.

Condominiums
Average Days on Market: 84 Days (No change from Last Week)
Inventory of Active Listings: 111 Active Listings (Up from 110 Last Week)
Inventory of Sold & Pending Listings: 57 (Down from 62 last Week)
Average List Price: $231,773 (Down from $234,457 Last Week)
Average Sale Price: $225,821 (Down from $232,259 Last Week)
Median Sale Price: $223,000 (Down from $230,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Condos: The condo market in MLS Area 340 had been fighting to stay within buyer territory for the last three months with moderate success. It is a little more difficult for first time home buyers to get approved for their loans.

If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at
www.callsnyder.com where you can access my Market Snapshot research tool found on the left side of the homepage.

This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail :
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.

Wednesday, June 11, 2008

Top Ten Signs That It's Time To Own Your Own Home

So you have found yourself starting to look at homes and even picking up flyer's. But are you ready to buy a home?

What are some of the signs that it's time to own a home.


10. You're ready to stop paying your landlord's mortgage payment, and essentially financing his retirement.

9. You really need the tax deductions associated with property taxes and mortgage interest.

8. You want to have a vested interest in your community.

7. You can no longer tolerate waiting a week, in the middle of summer, for your landlord to send a repair person to fix your air conditioning unit.

6. You are working at a job where you aren't required to relocate out of the country every three years.

5. You want to provide your family with a sense of stability and plant roots.

4. The number of members of your household more than double the number of bedrooms in your current residence.

3. You want your home to be your castle, your domain, your own property, which you can improve in any way you please.

2. You are tired of saving all your quarters for the laundromat.

1. When you say you are "going home", you want to really mean it!
I pull out all the stops! Give me a call to help make your dream a reality.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.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.

Friday, June 06, 2008

What is the best time to sell your house?

There is no "best" time to sell per say. Selling a house depends on supply, demand and other economic factors.



But the time of year in which you choose to sell can make a difference both in the amount of time it takes to sell your home and in the ultimate selling price. Weather conditions are less of a consideration in more temperate climates, but most of the time, the real estate market picks up as early as February, with the strongest selling season usually lasting through May and June.
With the onset of summer, the market slows. July is often the slowest month for real estate sales due to a strong spring market putting possible upward pressure on interest rates. Also, many prospective home buyers and their agents take vacations during mid-summer. Following the summer slowdown, real estate sales activity tends to pick up for a second, although less vigorous, fall market, which usually lasts into November when the market slows again as buyers and sellers turn their attention to the holidays.
If this makes you wonder if you should take your home off the market for the holidays, consider the advice of veteran agents: You are always more likely to sell your house if it is available to show to prospective buyers continuously.
The Real Estate Marke also vareys from state to state. It pays to consoult a REALTOR®.
I pull out all the stops to sell your home!


Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Thursday, June 05, 2008

What to consider when buying a condo

The condominium market has been rising steadily for the past few years. According to the National Association of REALTORS®, the condo market has regained the momentum and importance it had in the initial condo boom of the 1980s.
Condo buyers fall into three main groups: first-time buyers making the jump from renting; people looking to buy a second home that they will use part-time; and retirees who are trading in high-end homes for the low-maintenance lifestyle a condo provides. A condominium can be a great purchase under the right set of circumstances.

Before you buy a condominium, make sure you understand exactly what is involved in condo living. When purchasing a condo, the owner buys the title to his or her individual unit, up to the walls, but not including them. A common description of a condominium is a “box in the air.”
Rules to live by :
Condominiums are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). The rules vary from one condo development to another. They may impose restrictions on pet ownership, noise levels, remodeling projects, and renting. The CC&Rs are enforced by the condo association. It’s a good idea to read the CC&Rs to make sure that you are comfortable with them before you purchase a condominium.
Common Area :
The common areas of the development, such as stairwells, dividing and outer walls, fitness centers and rooftop gardens, are under shared ownership. Each unit owner holds an interest in these spaces. In order to manage the maintenance and repair of the shared common areas, every condo development has a condominium association, also known as a unit-owners’ association. The association is elected by condo owners and makes communal decisions in the interest of the community.
Condo costs include:
• down payment, mortgage and property tax.
• Condo fees, otherwise known as maintenance fees. Condo fees are paid by every resident to help with the maintenance of the building, pay the salaries of groundskeepers, concierges or handymen, and provide luxury facilities such as a pool, gym or rooftop garden. Condo fees are paid monthly and are subject to change.
• Special assessment fees. These fees may be requested when an unexpected repair or planned modification exceeds the cost of the condo fees collected.
Now with the record number of foreclosures, one of the residual points of concern is when condo owner’s dues begin to suffer. When a condominium goes into foreclosure, more than likely the dues for that unit have not been paid for months – long before the property went into foreclosure.
Considering a monthly condo fee of $400, each unit represents $4,800 to the income of the condominium owners association. Now what happens when the condo owners quit paying their fees, then the condo association may face a shortfall such that it will not be able to pay its bills, for instance, pool care, maintenance and utilities.
The association could also begin requiring escrowing three months’ of condo fees to protect the governing body from this type of problem.
Your biggest help can be your professional REALTOR®.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Tuesday, June 03, 2008

Light recipe: Chocolate Kahlua Brownies

Makes 16 brownies
- 1-½ cups sugar
- ½ cup egg substitute
- 3 tablespoons Kahlua or other coffee-flavored liqueur
- ¼ cup stick margarine, melted
- 1-¼ cups sifted cake flour
- ½ cup unsweetened cocoa powder
- 1 teaspoon baking powder
- 1/8 teaspoon salt
- 1/3 cup finely chopped walnuts
- Vegetable cooking spray
1. Preheat oven to 325 degrees. With an electric mixer, beat together sugar, egg substitute, liqueur and melted margarine until blended.
2. Combine cake flour, cocoa, baking powder and salt. Add to the sugar mixture, beating just to blend. Fold in walnuts.
3. Spray a 9-inch square baking pan with vegetable cooking spray. Transfer batter to the pan and bake 30 minutes or until a toothpick inserted in the center comes out clean.
4. Cool completely on a rack before cutting.
Data per brownie
Calories 161
Protein 2g
Fat 5g
Carbohydrates 28g
Sodium 81mg
Saturated fat 1g
Monounsaturated fat 2g
Polyunsaturated fat 2g
Cholesterol 0g
From "Cooking Light: Guilt Free Desserts"

I love chocolate. I would love to see any other recipes that you have.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Monday, June 02, 2008

Updated Renton Real Estate, Newcastle Real Estate & South Bellevue Real Estate Market Statistics (As of June 2nd, 2008)

These numbers are based on a three month historical analysis that is updated on a weekly basis.
MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)Single Family HomesAverage Days on Market: 93 Days (Down From 97 Last Week)Inventory of Active Listings: 591 (Up from 562 Last Week)Inventory of Sold & Pending Listings: 165 (Down From 253 Last Week)47 listings are absorbed by demand each month on average. (Down From 51 Last Week)11 Months Worth of Supply (Up from 8.5 Last Week)Average List Price: $885,342 (Up from $883,481 Last Week)Average Sale Price: $737,816 (Down from $747,990 Last Week)Median Sale Price: $615,000 (Down from $625,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Single Family Homes: This market has seen drops in the absorption rate for three weeks in a row. However, the area still favor buyers over sellers based on the fact that there is an 11 month supply of homes. A market is considered balanced when the supply of homes is closer to a six month supply.
CondominiumsAverage Days on Market: 67 Days (Down From 69 Last Week)Inventory of Active Listings: 149 Active Listings (Up from 144 Last Week)Inventory of Sold & Pending Listings: 52 (Down from 99 Last Week)15 listings are absorbed by demand each month on average. (Down From 20 Last Week)7.8 Months Worth of Supply (Up from 7.2 Last Week)Average List Price: $335,408 (Down from $337,384 Last Week)Average Sale Price: $337,467 (Up from $321,810 Last Week)Median Sale Price: $315,500 (Up from $306,900 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for condos: The condo market in MLS Area 500 had been fighting to stay within buyer territory for the last three months with moderate success. The absorption rate is at 7.8 months. (a six month supply is considered a balanced market).MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood) Single Family HomesAverage Days on Market: 102 Days (Down from 103 Last Week)Inventory of Active Listings: 453 (Up from 459 Last Week)Inventory of Sold & Pending Listings: 181 (Down from 311 Last Week)54 listings are absorbed by demand each month on average. (Down from 62 Last Week)8.2 Months Worth of Supply (Up from 7.4 Months Last Week)Average List Price: $565,097 (Down from $579,342 Last Week)Average Sale Price: $474,384 (Down from $497,702 Last Week)Median Sale Price: $420,000 (Down from $436,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Single Family Homes: Last week’s numbers show that buyer activity remained strong. The average days on market went down. The absorption rate is the key number to watch. At 8.2 months, things look great for buyers which means the same is true for sellers who are willing to price their homes correctly in this MLS Area.
CondominiumsAverage Days on Market: 75 Days (No Change From Last Week)Inventory of Active Listings: 89 Active Listings (Up from 83 last week)Inventory of Sold & Pending Listings: 37 (Down from 48 last Week)9.7 listings are absorbed by demand each month on average. (Down from 10 Last Week)8.9 Months Worth of Supply (Up from 8.2 Months Last Week)Average List Price: $249,390 (Down from $252,390 Last Week)Average Sale Price: $241,593 (Down from $244,503 Last Week)Median Sale Price: $254,990 (Up from $245,000 last week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for condos: Real estate trends indicate a shift a market that favors buyers over sellers in this MLS Area. The absorption rate dropped is 9.7 months. A market with a six month supply of homes is considered balanced between buyers and sellers. A market with less than a six month supply of homes typically favors buyers.
MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)Single Family HomesAverage Days on Market: 94 Days (Up From 93 Last Week)Inventory of Active Listings: 409 (Up from 395 Active Listings Last Week)Inventory of Sold & Pending Listings: 190 (Up from 232 Last Week)44 listings are absorbed by demand each month on average. (Up from 46 Last Week)9.1 Months Worth of Supply (Up from 8.5 Months Worth of Supply Last Week)Average List Price: $442,052 (Up from $437,413 Last Week)Average Sale Price: $374,352 (Down from $374,629 Last Week)Median Sale Price: $388,470 (Up from $361,855 Last week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Single Family Homes: Based on an absorption rate of 9.1 months, this market now favors buyers over sellers. An average of 44 listings are being absorbed each month out of 406 listings available for purchase which basically says there are buyers out there but they are only interested in the homes that are priced correctly for their condition and location.
CondominiumsAverage Days on Market: 84 Days (No change from Last Week)Inventory of Active Listings: 110 Active Listings (Up from 109 Last Week)Inventory of Sold & Pending Listings: 62 (Down from 63 last Week)12 listings are absorbed by demand each month on average. (Down From 13 Last Week)8.6 Months Worth of Supply (Up from 8.3 Last Week)Average List Price: $234,457 (Down from $233,948 Last Week)Average Sale Price: $232,259 (Down from $235,819 Last Week)Median Sale Price: $230,000 (No change from $230,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Condos: The condo market in MLS Area 340 had been fighting to stay within buyer territory for the last three months with moderate success. The absorption rate is at 8.6 months. (a six month supply is considered a balanced market).
If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at http://www.callsnyder.com/ where you can access my Market Snapshot research tool found on the left side of the homepage.
This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Friday, May 30, 2008

Looking to sell your home in a buyer’s market

Feeling low about the slowing housing market in the Renton, Kent, Seattle, Washington areas? It's no wonder, with all the "gloom and doom" reports in the media. There is hope for the housing market; it's what experts have been saying all along and it's worth repeating: Real estate is local; changing from state to state and even city to city. Not all markets are suffering. In fact, according to a recent report in Money magazine, more than half of the major housing markets in the U.S. saw prices stay the same or go up.The good news in all of this? It depends on your situation. As a homeowner, you may not have anything to worry about (particularly if you're planning to stay in your home awhile). If you're a buyer, you've no doubt discovered opportunities--and deals--abound. Thinking of selling your home? You can do it--and come out a winner--with our expert tips for making the most of today's market.
Price It Right
Your home has to hit the market running. If you’re asking price is too high, you'll turn buyers away--and they won't look back. (Remember: They've got lots of other homes to choose from.) Your home has to look like the best deal on the block. We'll research the actual "sold for" prices on comparable homes in the area to determine how to price your property.
Clean Up Your Act
Pretend that your fussy Aunt May is coming over for a visit--and bringing her white gloves. Every nook and cranny in your home must sparkle like never before. The American Society of Appraisers (ASA) suggests clearing your home of clutter (fridge magnets, piles of bills, etc.) and personal knick-knacks (family photos, souvenirs, etc.) even if you have to put it all in storage until your home sells. Sparse and simple will make your rooms look bigger and allows buyers to picture themselves living in the home. The ASA says the best thing you can do to update the look of your home is to give the outside and the inside a fresh coat of paint and add new carpet. Two neutral colors (wall and trim) not white is best. Also, if you're going to spend any money on landscaping, take care of the front yard first. It's more important to buyers that a home looks good from the street.
Offer Perks
You've done all you can to set your home apart from the others on the block--or have you? Consider giving your buyer a little financial nudge in your direction by paying points, offering to help with the down payment (especially appealing to a first-time home buyer), contributing to the closing costs, etc. Purchasing a home warranty or offering to pay homeowner association fees (if applicable) are relatively inexpensive ways to entice buyers.
Have Your Home Pre-Inspected
While home inspections traditionally have been requested and paid for by the buyer after an offer was made and accepted on the home, many sellers are now having their homes inspected before any buyers walk through the door. The idea is simple: With a pre-inspection, sellers can find and fix any potential problems that might put the sale of their home at risk. Beyond price you might also consider having an energy audit performed, particularly if you've made energy-efficient upgrades to your home. Your home may be able to boast money-saving features that will translate into real savings for your home's next owners--a huge selling point!
Pull Out All The Stops
This is no time to sit back and put your feet up. You'll need to work closely with your agent to ensure you're doing everything you can to help sell your home. Consider all offers your agent presents to you and respond quickly to them. Pass along any feedback you receive from potential buyers (important intelligence to have on hand!).

Finally, tell friends, neighbors and co-workers you're selling your home. Several of these people may already know who wants to buy a home in your area and, upon learning your home is for sale, will refer potential buyers to us. I will, of course, market your home through appropriate signage, the local multiple listing service, networking with the local community, advertising in real estate media and online, and much more.

I pull out all the stops to sell your home!
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : 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.

Wednesday, May 28, 2008

Pacific northwest events on the calendar

With the coming of spring the days get longer, the air gets warmer, the birds begin to sing. As you look around, you see many changes taking place but the most stunning transformation has to be in the plants. Almost magically, barren branches start to bud, brown grass turns green, and tiny little shoots push up through the soil; and with the changing of the season, we close another chapter of events that have come to define winters in the Pacific Northwest.
Nonetheless, when one door closes, another opens and with that, we are given an opportunity to enjoy the vast array of springtime activities that are also unique to our region.
If you are looking for things to do in Renton, Newcastle, Bellevue and the surrounding area, I have updated my Local Community Events Calendar found online at: http://www.bensonhillnews.com/index.php?pageId=calendar

There are literally hundreds of Pacific Northwest events on the calendar. Some of the most recent additions have been added to the pre-school programs page and are listed below.

Jazz Tuesdays: 5-8 PMCost: Free. IKEA Restaurant, 601 SW 41st St., Renton. www.ikea-usa.com/seattle

JubilantBands perform at various times Friday and Saturday305 Burnett Ave. S., Renton WA425-226-1544 or http://www.jubilante-restaurant.com/

RUSH - May 31st - Gorge at George www.hob.com/venues/concerts/gorge

INXS - June 3rd - Marymoor Park http://www.concertsatmarymoor.com/

Keb’Mo’ / Taj Mahal - June 24th & 25th - Zoo Tunes at Woodland
Park www.zoo.org/zootunes

John Hiatt - June 29th - Marymoor Park http://www.concertsatmarymoor.com/

Indigo Girls - June 29th - Zoo Tunes at Woodland Park www.zoo.org/zootunes

The Police - July 12th - Gorge at George www.hob.com/venues/concerts/gorge

Rob Thomas & Jason Mraz - July 12th - Marymoor Park http://www.concertsatmarymoor.com/

Widespread Panic - July 14th & 15th - Marymoor Park http://www.concertsatmarymoor.com/

Marc Cohn / Aimee Mann - July 16th - Zoo Tunes at Woodland Park www.zoo.org/zootunes

Emmylou Harris - July 24th - Zoo Tunes at Woodland Park www.zoo.org/zootunes

String Cheese Incident - August 1st & 2nd - Marymoor Park http://www.concertsatmarymoor.com/

Steve Miller Band - August 2nd - Gorge at George www.hob.com/venues/concerts/gorge

Nickel Creek - August 11th - Marymoor Park http://www.concertsatmarymoor.com/

Boz Scaggs - August 13th - Zoo Tunes at Woodland Park www.zoo.org/zootunes

Tom Petty - August 15th & 16th - Gorge at George www.hob.com/venues/concerts/gorge

Ani DiFranco - August 18th - Marymoor Park http://www.concertsatmarymoor.com/

The Avett Brothers - August 27th - Zoo Tunes at Woodland Park www.zoo.org/zootunes

Dave Matthews Band - August 29th - 31st - Gorge at George www.hob.com/venues/concerts/gorge

Los Lonely Boys - August 30th - Marymoor Park http://www.concertsatmarymoor.com/

Bumbershoot - August 30th - September 1st - Seattle Center http://www.bumbershoot.com/

If you have something you would like to see added to the calendar, please submit your request by going to the community calendar page and click add an event at the top. Please limit your event postings to those taking place in Washington State’s King, Pierce, Thurston, Snohomish, Skagit, Lewis, Mason, Island, Grays Harbor and/or Kitsap counties.

Event information is subject to cancellation or change. Please phone ahead to confirm event dates, times and costs.
Have a great weekend!


Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail: snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://www.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 areas.