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Can you represent us when purchasing a foreclosure?

March 12th, 2009 | No Comments | Posted in Around Town, Buyer's Corner

Question from a client:

I’ve had my eye on this house [Address].  It goes on Auction on [Date], 2009. Is it possible to buy it before that, and will the bank let us look around in it?  It is owned by [Trustee Name].
Thanks,  Client

Unfortunately, we would not be able to represent you for the purchase of a foreclosure.  It’s really a different animal than our business model covers. But I did a little digging for you, and thought you might be interested in knowing the following:
This house is not owned by [Trustee Service], but is still owned by the owner, with a lien on it at [Lender] for $[Loan].  The foreclosure process does not allow a sale or even access at this point.  This is the period of time during which the current owner, should he find the money to come current with the credit union, could redeem the house and get it back.  By law he must be given that time.  If there is a second mortgage, that could prevent a sale from proceeding. Many factors can delay or cancel an auction. Foreclosure is highly regulated by state law, and they must follow the time lines set out in the laws.  There is no short cutting that process once it’s handed over to a trustee.
Here are the risks.  There may be tax liens, utility liens, mechanics liens, or damage that you can’t know about till after the sale.  Buying a foreclosure is speculation.  Some folks win. Some lose.  People who are losing their homes often don’t take real good care of the home or their financial situation, leaving a title mess as well as a physical mess for the next guy.
So there is not any access to the house.  The only way to buy this property is to be present on the courthouse steps on the sale date and hope that it isn’t delayed and that someone else doesn’t beat you out.  You must have cash or it’s equivalent as the price is due and payable immediately.  (There are some short term loans at high interest rates that are used for the purpose, but you do not hold those loans long–you refinance ASAP.)  Foreclosure sales can be postponed for lots of reasons.
Caveat emptor (“let the buyer beware”) is the watchword where foreclosure purchases are concerned.
Hopefully I’ve answered your question–
I don’t recommend foreclosure auctions to many people.
They are for die hard investors with cash money to burn, in my opinion.
We can help you with bank owned properties or ANY property listed in the MLS, Short Sales, or Pre-foreclosures as long as they are listed in the MLS.  We can also work on For Sale By Owner homes in any of the above states as long as the owner will work with buyer agents.
For more detailed information about the foreclosure process: Link to a site that outlines the foreclosure process in WA State

Lynette Hensley
Associate Broker

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Music Venues — Q Cafe

February 4th, 2009 | No Comments | Posted in Around Town

In addition to being Real Estate professionals, Larry and I are also musicians–yes, we spend 24/6.5 together! We met at an open mic sponsored by Victory Music, which is now hosted at the Q cafe every Tuesday night. You might even catch us performing there once in awhile!

Victory has open mics and concerts in other locations, Tacoma, Lynnwood and at Crossroads Mall in Bellevue and there are many other open mic opportunities around town, to play and also to go listen. We will write more about music and listening opportunities from time to time.

Q Cafe
3223 15th Ave W, Seattle 98119
(just south of the Ballard Bridge at Dravus St. exit) (206) 352-2525   www.qcafe.org
Sign up: 5:45 – 6:15 pm Music: 6:30 – 9:00 pm
Cover charge: $3 general public, $2 members. Performers don’t pay!
Wonderful large venue, very family friendly. Coffee, tea, soft drinks and pastries available.

Lynette Hensley
Associate Broker

Original post @ http://www.seattlepowersearch.com/blog/2009/02/music-venues-q.html

24 Hour Vacation

April 19th, 2008 | No Comments | Posted in Around Town

Larry and I took 24 hours and embarked on a little trip for a weekend getaway to Port Townsend.  We began with a ferry ride at Edmonds to Kingston, and then took Hwy 104 all the way across the Hood Canal stopping at Port Gamble to antique and be tourists.  We stopped at the sea shell museum and general store–and took some pics.  We wandered through a gift shop and antique store on the street right next to the water, and then drove on to Port Hadlock.  There we dropped into the Ajax Cafe where we arrived just in time to not need a reservation!  What a great place for people watching!  We enjoyed live music, guitar and clarinet and flute on a stage just big enough–they were having fun!  The decor is eclectic, none of the dishes matched, there were movie posters, black and white photos of celebrities, costumes, tons of hats hanging on the walls, lots to look at.  The food was brilliant–and then as the evening went on, more and more folks tried on hats.  Larry found a wig and a tie that transformed him into a People started taking photos of each other–complete strangers were playing with each other–it was brilliant fun!

We ended up in a B&B in Port Townsend, F.W. Hastings House, Old Consulate Inn, relaxing, and with a 7 course breakfast in the morning.  Lots of antiquing in the morning and good coffee and gift shops all around. 

Get your landscape ready for Autumn

September 24th, 2007 | No Comments | Posted in Around Town, Buyer's Corner, Seller's Forum

Here is a link to the Lowe’s Newsletter–it’s got great info for getting your yard ready for Autumn.

September Newsletter–Lowes

How Walkable is your Neighborhood?

September 12th, 2007 | No Comments | Posted in Around Town, Buyer's Corner, Seller's Forum

What is Walk Score? 
Walk Score shows you a map of what’s nearby and calculates a Walk Score for any property. Buying a house in a walkable neighborhood is good for your health and good for the environment.  The walk score of the Space Needle, for example is 89.  Bill Gates’ house walk score is 6.  Our house is 65.  The higher the score, the more walkable the location.  How does the site calculate walkability?
 How It Works
Walk Score calculates the walkability of an address by locating nearby stores, restaurants, schools, parks, etc. Your Walk Score is a number between 0 and 100. The walkability of an address depends on how far you are comfortable walking—after all, everything is within walking distance if you have the time. Here are general guidelines for interpreting your score:

· 90 – 100 = Walkers’ Paradise: Most errands can be accomplished on foot and many people get by without owning a car.
· 70 – 90 = Very Walkable: It’s possible to get by without owning a car.
· 50 – 70 = Some Walkable Locations: Some stores and amenities are within walking distance, but many everyday trips still require a bike, public transportation, or car.
· 25 – 50 = Not Walkable: Only a few destinations are within easy walking range. For most errands, driving or public transportation is a must.
· 0 – 25 = Driving Only: Virtually no neighborhood destinations within walking range. You can walk from your house to your car!

 Check it out via our website:  www.ComeBuyAHouse.com

Great News for Seattle Area Values

 It is a bit of a buyer’s market in many areas, and some good deals are to be had!
In general, houses for sale are spending longer times on the market than in recent years, and some areas are showing signs of prices coming down. Buyers: sellers who need to sell quickly are selling low. Sellers: Fear not, you can add value to your property and negotiate in creative and
tangible ways.  
The mortgage market and interest rates are contributing factors to this market change.  (Please see the next article for mortgage market info.)
Still the house value trend in Seattle is good news. According to the Seattle Times, in the 2nd quarter of 2007, Washington State led the nation with 5 cities in the top 20 for appreciation, with the Seattle/Bellevue/Everett areas up 9.89%,
“Washington State led the nation with the number of cities in the top 20 for appreciation with five. In order, there are: Wenatchee (up 23.54 percent), Longview (up 13.6 percent), Seattle/Bellevue/Everett (up 9.89 percent), Tacoma (up 9.34 percent) and Spokane (up 9.3 percent). And, the state had no cities in the bottom 20, which were located primarily in California and Florida.”  Seattle Times
The rest of the Seattle Times article includes national information.  If you would like to have the entire article in print or via email, please send an email request to us at ComeBuyAHouse [at] gmail.com
——-Lynette and Larry
 

How the Seattle time on the market is changing

March 27th, 2007 | No Comments | Posted in Around Town, Buyer's Corner, Seller's Forum

I think agents need to prepare sellers for a longer time on the market when they list their homes. I’m seeing so many more houses on the market for a longer period of time than was usual, even last year at this time.

Both buyers and sellers in the Seattle area are used to sales that happen quickly when a house is listed, and that does still happen when a house is priced well, looks great and suits a lot of buyers. But now we are seeing perfectly good houses stay on the market 60, 90, 120 days, especially when they are over the median price range. It’s time for buyers to stop judging houses by how long they’ve been on the market–stop asking what’s wrong with this house–and just go see it. There is very likely nothing wrong. And it’s time for sellers to be a bit more patient with the process–we’ve had it easy for a long time now.
There is not automatically something wrong with your agent if your house doesn’t sell in 30 days like it would have a year ago. That being said, there are ways to increase the probability of selling your house in 30 days–price it right and market it like crazy in the first couple of weeks. Staged, good looking homes sell quicker. Get all the way ready before listing. Make the most of the first two weeks. And then be patient because the purchase requires a buyer, and they are just now coming out to buy in greater numbers.

Favorite places

November 26th, 2006 | No Comments | Posted in Around Town

Good place to eat:
Breakfast Club–culturally diverse country down home breakfast–attitude served up at no extra charge
Banjara–Queen Anne Indian restaurant –try the mango curry fish
Sunlight baking company–best of granola breakfasts close to most vegan
Mad Pizza–4 locations now!

Good places for Coffee — Roosters above all!! 
Now in two locations–third soon to be announced at U Village (you got it here first!)

Good places to nap:
South slope of Ballard locks by the railroad bridge

Best places to shop for wierd stuff: 
Pike place market–duh!

Best place to buy guitars–call Larry 206 291 4117

Best places to meet folkies:
Folklife
Victory Open Mics
  Honey Bear Bakery in Third Place Books–Ravenna
Dusty Strings
Street Corners
Public Market

Best Antique shopping areas:
Snohomish
Antika on Greenwood
Post Alley

Home Decor
Check out the shops in Edmonds….I LOVE Edmonds. –Lynette

Very interesting places to see stuff you can’t always see:
Edmonds beach at low low tide

This is just the beginning– not to be mistaken as a comprehensive list.  We will add and YOU will add to it. 
Yes?  Yes!