Real Estate Information Archive

Georgeous custom home of over 2911 sq. feet that sits on five secluded view acreage - seven miles from Hwy 522 entrance and exit in Monroe, WA. Close to amenities, yet secluded in a ten lot plat that sits at the top of the hill at the end of the road. No homes on the side or front or back.

Over $45,000 in outbuildings to include a pole barn for your RV/Boat/Snowmobile, storage shed w/loft for storage, kennel, attached to dog run.  Lawn equipment out building as well.

The landscapping will marvel you. Over $35,000 in new landscapping just finised. This is a must see.

This four bedroom home has everything you would expect in terms of quality. Gleaming hardwoods on lower level, great room effect, top of the line professional appliances, custom European cabinets. Oversized laundry room with professional grade washer/dryer, sink and cabinets.

The master is on the main with a five piece master bath, dual headed shower and rock floor. Separate water closet, soaking tub, dual sinks and walk-in closet.

The entry is graced with slate and takes you to the rail and spindle lighted stair case. The upstairs has three bedrooms, one large enought to fit a king bed, and an oversized bonus room for all your exercise equipment.

Vaulted ceilings and many windows add drama. Run don't walk to this beauty.

You must click on this property it is a "one of a kind."

For all your real estate needs, contact Karen Villa Schweinfurth, RE/MAX Northwest Realtors, 425-308-3669 or karen@karensvillas.com

Watch this three minute video to see how the REALTORS® are working to help homeowners purchase homes in this difficult market, that in turn boost the economy. Remember, homebuyers need to purchase furniture, appliances, etc. for the home, keeping jobs alive for the suppliers of these needs. The power is in the numbers.

We are dedicated to keeping the American Dream Alive......Home Ownership.

Here is an interesting read about the West Coast market conditions.  We have the worst economic climate since the Great Depression; however, predictions are we have hit the bottom. It will take three to four years to absorb the current inventory before we see prices rise. Click here to read.

This may be the best buyer’s market that we’ll see in our lifetimes. There are lots of legitimate reasons why a person should be taking advantage of this market if they are able. 

Obviously, if a person doesn’t have the down payment or credit score, they won’t be able to seize this opportunity. If a person is concerned about losing their job, that would be a valid reason for not buying now. If you are planning on relocating in the next year or two, maybe now isn’t the time to buy.

 On the other hand, if a person doesn’t own a home, has good credit and job stability, they should seriously consider capitalizing on this unique combination of opportunities. A qualified real estate professional can explain all of the reasons and even suggest some very interesting financing alternatives.

Top Ten Reasons to Buy a Home NOW

1. Interest rates incredibly low – the rates are hovering at near historic lows. Interest rates play a huge part in the cost of housing together with the price and shouldn’t be overlooked. The average mortgage interest rates for the past four decades were: 1970’s 8.9%; 1980’s 12.7%; 1990’s 8.1%; 2000’s 6.3%. Most experts agree that they’re going to rise this year.

2. Lower Prices - Recent price adjustments have made good values that haven’t been available in some situations for years. Current buyers are able to take advantage of the discounted prices.

3. Selection is good – In a seller’s market, buyers sometimes have to accept a home that may not meet their needs completely because of short supply. Inventories in most markets and certain price ranges are higher which allow buyers better choices. 

4. Negotiate financing concessions – FHA, VA, and Conventional allow the seller to contribute towards financing concessions for the buyer. The money can be used for buyer’s closing costs, pre-paid items or interest rate buy down.

5. Costs for FHA loan going up – Currently, a seller can pay up to 6% of the sales price in financing concessions but the number will be reduced to 3% later this year; the date has not been announced yet. The annual MIP for FHA loans will also probably be going up this year which will increase the monthly payment. Buyers who get in now will pay the lower fees.

6. Interest and property tax deduction – the U.S. is one of the few countries in the world that allow an interest and property tax deduction for homeowner/taxpayers.

7. Source of funds with deductible interest - a homeowner can borrow up to $100,000 above their acquisition debt and deduct the interest regardless of what purpose the money is used. This is a great opportunity to consolidate debt at a lower interest rate and be able to make the interest deductible that otherwise may not have been.

8. Capital gain exclusion – the U.S. allows qualified homeowners to make a profit on their home without having to pay tax on the gain.

9. Borrowing against equity is non-taxable event – taking money out of the equity in your home does not require recognizing capital gains income.

10. The combination of reasons to buy a home may never be stronger than now.

Interest rates are going up; it is just a matter of when. Inventories are starting to be absorbed by current demand. New home construction is down considerably which could lead to higher prices due to not enough annual housing units to keep up with the population. Prices have started to climb in some markets; others will surely follow.

A basic rule of investing is to buy low and sell high. There will be some buyers who take advantage of the current opportunities and will look back and remark how fortunate they were to act when they did. There will be others who look back on these conditions and say "We should have bought then." Hindsight is always 20/20. Evaluating the present and acting takes equally clear vision. The help of a trusted professional can make the difference.

Work with Karen Villa Schweinfurth, YOUR trusted professional....serving Snohomish County for over 25 years, 425-308-3669.

Here is an informative article that just may help the economy and getting us out of the real estate slump.

For all your real estate needs, contact: Karen Schweinfurth - 425-308-3669 or karen@karensvillas.com

Sales and Listings in King and Snohomish County - click here.

Interesting graph showing listings and sales compared to 2009.

For all your real estate needs, contact Karen at 425-308-3669 or karen@karensvillas.com; http://www.karensvillas.com

Here is some information from the local Herald describing the market and market stats especially for Snohomish County. Click here to read.

2010 Homebuyer Tax Credit

Who Can Qualify - First-time home buyers, who have not owned a residence during the three years prior can qualify for up to a maximum $8,000 in a tax credit. Existing homeowners, who have owned their current home for al least five consecutive years, can qualify for up to $6,500 in tax credits.

Deadlines/Guidelines - Close on your home purchase prior to April 30, 2010 or have a binding written contract by April 30, 2010.  Purchases closed after that date will NOT be eligible for the home buyer tax credit.  You can apply the credit to your 2009 tax return, filed on or before April 15, 2010. Or, apply the credit on your 2010 return, filed on or before April 15, 2011.

Must The Homebuyer Tax Credit Be Repaid? - There is no repayment required on the Extended Home buyer Tax Credit program if you occupy the home for three years or more; but should you sell prior to that time the full amount of the credit will be recouped on the sale.

Attention Move-Up Buyers - While beneficial for first-time homebuyers, this Extended Tax Credit program is a coup for would-be move-up buyers. With inventory shrinking, it's a great time to list/sell your home and free-up your equity while being able to take advantage of affordably purchasing your next home at low-level market prices---with money back from Uncle Sam.

It is unlikely that we will see market conditions, and tax credits, like these again anytime soon, so "Get Moving Today!"

Call Karen at 425-308-3669 or mailto: karen@karensvillas.com with questions.

“More certainty” and “more stability” in the market contributed to a boost in activity during January.  Brokers reported an increase of nearly 27 percent in pending sales (purchase offers made and accepted, but not yet closed) from December and a 28 percent jump from twelve months ago.

Two other indicators of activity fell -- inventory and sales prices. There were 3,915 fewer active listings of single family homes and condominiums in the MLS system compared to a year ago, a drop of about 10.3 percent. Sales prices area-wide for January’s closed sales declined about 4.8 percent from year-ago figures. (The NWMLS service area covers 21 counties.)

We anticipated there would be improved sales in the first-time buyer market and are encouraged to see activity gaining ground in the higher price ranges as well.”  Historically low interest rates, great affordability, and the home buyer tax credits are factors for helping push us into a more stable market.  We expect to see this momentum continue in the coming months.

NWMLS members added 11,206 new listings to inventory during January, including 9,269 single family homes and 1,937 condominiums. With those additions, the selection at month end totaled 34,256 listings, down more than 10 percent from a year ago. The inventory of single family homes shrunk 11.5 percent, while the condo selection declined by 3.7 percent.

Members tallied 5,579 pending sales during January, improving on the year-ago total by 1,226 transactions (up 28.2 percent). For the four-county Puget Sound region (King, Kitsap, Pierce and Snohomish), the number of pending sales jumped nearly 35 percent, led by King County’s increase of 47.4 percent.

Currently, there is about a 6.1 months supply (ratio of houses for sale to houses sold). Economists consider a supply of 3-to-6 months to be a balanced market.

The median sales price for last month’s closed sales of single family homes and condominiums combined was $259,903, down 4.8 percent from the year-ago price of $273,000. Compared to December, prices fell about 1.9 percent area-wide, with eight counties showing increases in sales prices. In King County, last month’s median price of $350,000 for single family home sales was unchanged from December.

Single family homes (excluding condos) sold for a median price of $262,500, which compares to the year-ago selling price of $276,000, a drop of 4.9 percent.

The short sale inventory continues to climb yet many banks are starting to get their act together and actually making it easier for agents and buyers to get faster answers to their proposed contracts.  Shorter closing times are good for everyone.   While the National Association of Realtors® suggest Appraisal Management Companies pose potential conflicts of interest if they’re lender-owned, and say assigning appraisers to prepare reports in areas where they lack geographic know-how can yield unreliable results. Sales are sometimes lost because of appraisals that don’t reflect the market.

Lawrence Yun, chief economist for the National Association of Realtors, believes the tax credit is skewing market data. Commenting on NAR’s report of December activity, which showed a 10.9 percent jump in pending sales from December 2008 and 1.0 percent increase from November, Yun said “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded.” Noting December was the fifth highest monthly tally in two years, Yun stated “These swings are masking the underlying trend, which is a broad improvement over year-ago levels.”

The tax credit deadline is expected to boost activity in the next few months. We expect this year to be better than last because of more certainty in the market.

Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30 to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

For all your real estate needs, contact Karen at 425-308-3669 or karen@karensvillas.com.

The House has passed the proposed First Time Homebuyer Tax Credit of $8000 until April 30, 2010 with other provisions.

Buyer who have been in their principal residence five of the last eight consecutive years will be entitled to a $6500 tax credit. Here is a link to the changes and provisions of the proposed law.

The $8,000 tax credit has allowed for 7000 more homes to be sold just in Washington State

This new incentive will allow the "step up" or "move up" buyer to sell and get a tax credit.

If you have questions regarding this information, please contact me at 425-308-3669 or email me at karen@karensvillas.com