Friday, January 31, 2014

Weekly Update

This week was a busy one at MySecretAgent! Below are our new listings for the week: 

MLS# 586636 

Beautiful Schneider Family Homes resale located in the popular Highlands at Woodbrook neighborhood. House features formal living room with crown molding, spacious great room, den, 2 car garage with shop, 4 bedrooms, and 2.5 baths with a 5 piece master bath. Large kitchen island with gas cook top, stainless steel appliances, slab granite counter tops. Close to private neighborhood park with sports court, play structure and gazebo. Energy Star certified home

MLS# 586378

Like living in a resort in a one of a kind building that will never be replicated. Perched on pilings over saltwater with eagles above this magical space is open and airy with bright wall colors,bamboo floors, a wood burning fireplace, lots of closets and spacious bedrooms. Waves lull you to sleep and sounds from the entry fountain drift into the dining room. Kayak racks, boat launch, sauna, heated pool, community room, extra storage and million dollar views from the private deck.

MLS# 586590

Amazing mountain views and sunrises at this wonderful family home. With 4 spacious bedrooms, 2.5 baths, a large family room, rec room, and over-sized garage, you won't be disappointed! The master bedroom has a 5 piece bath, along with a walk-in-closet. Quietly located at the end of a cul-de-sac, with no neighbors behind you. Solace can be found while still being close to everything. This home has a new roof and all new appliances within the last 2 years. 

MLS# 14531937

UNIQUE WATERFRONT CONDO AND BOAT SLIP COMBINATION. A 2nd floor waterfront condo.This condo has the best view of all the boating and scenic activity in this growing community. Includes a lower bedroom and loft bedroom (or office). Also includes optional moorage for  36' boat minutes from your door.

MLS# 14568804

Great investment opportunity: Centrally located desirable DUPLEX, 3 bed, 2.5 bath,1 garage,1422 sq each, both units rented currently.

MLS# 586373

Discretion: Corner Lot, double Car Garage, all appliance new, new carpet, new hardwood flour, new paint in side and out side, new roof large rooms, new deck new driveway.

MLS# 586445

Custom home built 1985, 2450 sq ft. Value is in the land, zoning allows development. Home operates as a Daycare, special conditions apply. 4 bedroom, 2.5 bath, Formal and Informal Dining, Cathedral Ceilings Living Room, Family Room off Kitchen, Gas Fireplace. Shop 24' x 36' 1.20 Acre Zoned, 10-24 units per acre. All utilities in street including sewer within city limits. Room for 3 to 5 four plexes.

MLS# 586365

Immaculate property with beautiful upgrades to kitchen, flooring and exterior. Great curb appeal, upgraded trim and stone accents with covered front porch. Upgraded interior trim, great kitchen with stainless steel appliances and skylights, gas fireplace, nice master suite with walk in closet and 5 piece bath with jetted tub. Fully landscaped, stained and sealed fenced backyard with stone patio and raised/irrigated garden, nice details, backs up to community park, splendid afternoon sun!!!

MLS# 584279

Terrific location in the heart of Ballard! Condo includes parking spot in a secure garage, washer/dryer, stainless steel appliances, spacious walk-in closet and balcony. Outstanding amenities include: a full 24 hr fitness center, 2 hot tubs, dry sauna, concierge, community lounge with cable TV and fireplace, business center with free internet/fax, conference room, bike and kayak racks, and a pea patch on the big rooftop deck with a stunning view of the Olympic mountains. Pets also welcome.

8216 Canal Rd SE Yelm WA 98597

MLS# 584011

Pristine 4BR, 2.5BA with open floor plan facing private ranch in Yelm! HUGE kitchen w/ stainless steel appliances and island, LR/DR combo with picturesque ranch view out front windows, sunken family room with fireplace, 4th BR/office off FR, utility/mud room, fenced, landscaped yard and newly stained DECK! MASSIVE master closet with custom organizer, large 5-piece master bath. New hardware on cabinets throughout, wood blinds, white trim. ADT system. 

Thursday, January 30, 2014

Sellers Closing Costs

If you’re monitoring your home value and maintaining an eagle eye on the remaining balance of your mortgage so you can sell and reap a worthwhile profit, don’t forget to factor in closing costs on your home sale.

You may be estimating that you can sell your property for $350,000 and pay off your $200,000 home loan and reap a $150,000 benefit. But before you start counting your dollars and debating the size of the down payment for your next home, you need to calculate your closing costs.

While buyers also pay closing costs, you’ll see a long column on the HUD-1 Settlement Statement for seller costs. Closing costs vary according to where you live, but as the seller you can expect to pay anywhere from 6 percent to 10 percent of the home’s sales price at settlement. This won’t be cash out of your pocket, rather it will be deducted from the profit on your home — unless you are selling with very low equity. In which case, you may need to bring a little cash to the table.

Seller Costs

One of the larger costs at settlement paid by the seller is the commission for the REALTORS® involved in the transaction. Commissions are negotiable and vary somewhat by market, but a typical commission is 6 percent of the sales price of the home split between the listing agent and the buyers’ agent. For a home that sells for $350,000, the commission would come to $21,000.

Other fees paid for by the seller may include:

  • Loan payoff costs. Your loan payoff will often be a little higher than the remaining balance on your loan because of prorated interest. In some cases, you may have to pay a prepayment penalty for paying off your loan before the end of the term. If you have a home equity loan or line of credit, this must be paid in full at settlement as well.
  • Transfer taxes or recording fees. These are the taxes imposed by your state or local government to transfer the title from one owner to another.
  • Title insurance fees. Sellers typically pay the owner’s title insurance premium.
  • Attorney fees, if you have your own attorney represent you at the settlement. Market traditions vary, so while in some areas both the buyers and sellers have their own attorneys, in others it’s more common to have one settlement attorney for the transaction. In some areas the buyer pays the attorney fees, while in others the seller pays.
  • Liens or judgments against the property.
  • Unpaid homeowner association dues.
  • Prorated property taxes and homeowner association dues up to the settlement date.

Depending on the contract, the seller may also have to pay:

  • Termite inspection and remediation, if necessary.
  • Home warranty premium.
  • Repair bills or a credit for repairs for items found during a home inspection.

Also, don’t forget to estimate some of the costs associated with preparing to sell, such as cosmetic repairs or improvements to make your home more attractive to buyers. Those costs may be returned with a higher sales price, but you should still include them in your calculations. Full Article

Tuesday, January 28, 2014

Existing-home sales top 5 million in 2013 -- best year since 2006

More than 5 million existing homes were sold in 2013, the best year since the boom times of 2006, when 6.5 million were sold.

That's according to the National Association of Realtors, which reported that single-family homes, town homes, condominiums and co-ops sold at a seasonally adjusted annual rate of 4.87 million in December, up 1 percent from November.

Last year's total of 5.09 million sales was 9.1 percent higher than 2012's total.

Job growth, low mortgage interest rates and pent-up demand had been driving the market since 2011, said NAR Chief Economist Lawrence Yun.

"We lost some momentum toward the end of 2013 from disappointing job growth and limited inventory, but we ended with a year that was close to normal given the size of our population," he said.

The national median price for an existing home rose 11.5 percent in 2013 to $197,100 -- the biggest jump since 2005, the association reported.

As of the end of December, 1.86 million homes were on the market.

Realtors are optimistic sales will remain strong this year, despite higher prices and higher mortgage rates.

"The only factors holding us back from a stronger recovery are the ongoing issues of restrictive mortgage credit and constrained inventory," said NAR President Steve Brown, co-owner of Irongate Inc. Realtors in Dayton, Ohio. "With strict new mortgage rules in place, we will be monitoring the lending environment to ensure that financially qualified buyers can access the credit they need to purchase a home." Full Article

Tuesday, January 14, 2014

Super Bowl Appearances vs. Real Estate Prices

Fact: Most of the 10 NFL teams that have gone to the Super Bowl five or more times come from cities with high median home prices. Does this mean there is a correlation between Super Bowl appearances and real estate prices? We have created a graphic to explain this possible correlation. Here is a preview: