April :: SoundBiteBlog.com 2007 :: SoundBiteBlog.com

Purchasing a home without representation is similar to driving down a straight road with a blindfold on. It might work out.

The process of purchasing real estate is pretty straight-forward, but the complexities of the legal paperwork are intimidating to say the least. Quite honestly, I wouldn’t think of doing this and I work with real estate transactions every day of the week! There is no better investment of my money, than the services of a well-trained and experienced Realtor®. 

If you have decided to do-it-yourself, here are three things to help you maintain some control of the transaction. These three contigencies will allow you some protection from the more common problems that arise between the time you find the home of your dreams, and the time you are handed the keys to it.

Stay In Control – Tip #1

Financing Contingency:  You want to insure that the financing happens the way that you need it to.  For example, you may want to place an offer based on  finding a mortgage with your specific terms. If you have decided that 6.50% is the highest interest rate you are willing to pay, yet 8.00% is the lowest available at the time, you will need a way to back out of the transaction without financial penalty.  If you do not find that mortgage, the deposit that you have made will be refunded to you. 

The best course of action is to have your financing in place before you go shopping. In that case you can still add a contingency for a specific time period in which to formalize you financing. 

Stay In Control – Tip #2
 

Inspection Contingency:  The next thing to insure your protection is a  home inspection contingency.  Because homes are such large investments and an emotional decision, you need to have your home professionally inspected.  This is no time to put your weekend-garage-warrior hat on thinking you can save a couple of hundred bucks. Let the professionals climb around in the attic and into the crawlspace. Listen to the inspector if he recommends calling in a licensed electrician because some seems amiss. And make sure you place a contingency in your offer that the inspections come back clean or the offer is voided.  If the home inspector does find any problems with your home, you can decide to back out of the home’s purchase altogether, or you can renegotiate for a lower price, based on the findings.
You should have a professional company come in and look at all of the major systems in the home including your heating, cooking, roof, windows and so on.  In addition, the home’s structure should be considered, the presence of any potential electrical, plumbing, water damage or pests in the home and much more. 

Stay In Control – Tip #3 

Appraisal Contingency: While many home buyers are willing to pay for the home of their dreams no matter what that cost, the bank that is giving you the loan for it is not likely be so nice about the process.  The lender will require that an appraisal be done on the home, and you should too.  You want to know that you are getting a home that is worth the cost you are paying for it.  You should place a contingency in your offer, then, that the home will appraise for at least the amount of the offer you are placing.

You will need to have an independent appraiser come out and do this work.  He or she will compare the home’s condition and property aspects to homes in the area that have the same or similar features and what their selling prices have been. If the appraisal comes in low, make sure you have the legal right to back out of the transaction or renegotiate the price.

If you are determined to play Russian Roulette with hundreds of thousands of dollars by representing yourself in the purchase of a home, at least take along some Kevlar. These three contingencies will give you a bare minimum of protection.

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Posted in Buyers, Miscellaneous, Real Estate Bites | 4 Comments »

Tags: home buyer tips kitsap washington, kitsap real estate blog, seattle real estate blog

One of the more difficult challenges in moving to a new area is finding a good, reputable auto repair shop. There are few things worse in life than having your car breakdown in a strange city and not know where to take it.

If you have recently moved to the Kitsap Peninsula in picturesque Washington State, then you are most fortunate. One of the best auto repair shops is right in your own backyard!

Town & Country Auto Repair, located right off of Hwy. 3 on Chico Way, has truly been a Godsend for our family. When we moved to Silverdale, Washington, our kids were younger and we only had one car – the Soccer Mom Mini-Van. Now, as our kids have grown (teenagers, don’t ya just love ‘em!), we have added 4 other cars to the collection! Several of them are very basic, “Point-A to Point-B,” high miles used cars (Two of which were thankfully donated by friends or family). Of course, the more cars you own, the greater your chances of needing repairs, especially for the older ones.

I highly recommend the expert mechanics at Town & Country Auto Repair without reservation, and for the following reasons:

These guys are like the “Boy Scouts of Auto Repair!”

They’re Trustworthy – they always do what they say they’re going to do and “when” they say they’ll do it!

They’re Helpful – each one of their technicians has been professionally trained and certified. Several of them are specialists for various systems or vehicle makes. They are able to troubleshoot even the most challenging problems quickly.

They’re Friendly - you feel like you’re one of the family. They actually make you feel like you’re the most important customer they have!

They’re Thrifty - here’s an amazing concept: they’ll only do the work that is needed or necessary! They’ll give you options, but they never sacrifice on safety related issues. They don’t gouge their customers, but provide excellent work at a very reasonable price!

Okay, so they’re not Clean, but what would you expect from guys who crawl under cars all day!

So if your car or truck needs a doctor, check out the boys at:

Town & Country Auto Repair, 3420 Chico Way NW, Bremerton, WA 98312

(Corner of Chico Way & Erlands Point) (360) 692-2262

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Posted in Business Bites | 2 Comments »

One of the challenges when relocating to a new area is finding out where the good restaurants are.

One of my favorite spots to meet and eat is right here in Silverdale, the Silver City Restaurant & Brewery.

The two owners, Steve and Scott, got their start back in 1990 when they opened “Top Notch Burger” in East Bremerton. A second location soon followed here in Silverdale (where Silver City is currently located).

In 1996, after coming to the realization that putting the major burger chains out of business wasn’t going to happen, the decided to switch gears, and got into the growing brewpub business. They sold their Bremerton location and remodeled the Silverdale location into the popular eatery and microbrewery that it is today.

You can begin your eating experience by making a selection from one of their tasty appetizers, such as Dungeness Crab Rolls or Mac’s Steamed Clams. Their menu includes a delicious selection of Black Angus steaks, pasta dishes, specialty pizzas, soups and salads. The House Specialities include such popular offerings like Beer Battered Halibut & Chips, Northwest Crab Cakes, and Porter Glazed Salmon. In addition, there is a nice variety of Salad and Sandwich choices for the lunch faire like Jamaican Jerk Chicken, BBQ Shredded Pork, and the Asian Noodle Wrap.

The Brew Master, Don Spencer, with over 20 years brewing experience, oversees the daily production of 10 standard beers (from Yellow Jacket Golden Ale to Panther Lake Porter) and 10 seasonal beers (including Duckabush Brown Ale and Sasquatch Stout). Many of these brews have won numerous awards in the US and worldwide. My favorite is Ridgetop Red!

So whether its a power lunch with a valued business client, taking your family out for dinner, or celebrating an occasion with that special soneone, Silver City Restaurant & Brewery is an excellent place for great food, great brews, and great friends!

(photos courtesy of Silver City Restaurant & Brewery)

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Posted in Bites of Washington, Business Bites, Kitsap County Bites | No Comments »

Our local Kitsap County Real Estate Market has been thriving for the last 7 years. We have been coming out of a seller’s market since August of 2006 and now the market is correcting itself.  Compared to other parts of the country we still have a very healthy market. What we are experiencing now is more of a balanced market.

Washington is ranked 5th in the nation for the highest increase in appreciation in the last year and is still one of the most active markets.  Due to the shift in the market there is now more inventory for a buyer to look at and the days-on-market has increased from a county average of approximately 35 days to 85 days. Sellers now have to really look closely at how their homes show and most importantly, how it is priced to position the house to sell. In the last few years, with the inventory down and more buyers than homes, a home would sell quickly no matter how it showed. My recent experience with showing homes to potential buyers has motivated me to write this article.

We have all heard this many times but it is so important I feel obligated to repeat it. First impressions are very important. Some of the simplest and most inexpensive things will make a good first impression. None of this is new information. Because of the recent changes and the hesitancy of some realtors (especially newer realtors in the business) to tell a seller the truth, or resistance to the idea that they have work to do, I have shown some homes that are going to be on the market a while.

Curb appeal

Put a fresh coat of paint on the front door, put flowers on the front porch or stairs and always put down fresh beauty bark. None of this is expensive but it goes a long way to making a buyer feel the home is cared for. 

If you can smell it you can’t sell it!

This is so very true, get an objective opinion, especially if you have pets. We may not notice an odor if we live with it every day. I have shown homes that smell so bad my clients try to beat me to the door to get out. I showed a home the other day that had a strange odor and we spent the first 10 minutes trying to figure it out instead of looking at the home.  We finally decided it was the green algae growing up the side of the fish tank in the living room. I don’t even want to talk about the home that had 2 ferrets in residence!

A professional housekeeper ? 

It is often very worthwhile to have a professional housekeeper to do a one-time cleaning. Often it can be only $100 to $150, money well worth spent even if you pride yourself on your housecleaning skills. They see things we don’t see and they pay attention to detail, like the polishing the molding, dusting the lamps and window sills, making the kitchen cupboards shine and so on. Always get a referral from your realtor for a good housekeeper they have worked with.

When buyers are on the way to your home! 

Often now you will get advance notice of a showing, take the time to run some of the fresh scented cleaning wipes over all your countertops before the showing, light candles and put soft music on the stereo.

Oh, the inconvenience…. 

Last and most important, you must be willing to show the home. I had two sellers tell me it wasn’t convenient for them for me to show their house even when I was giving 2 days notice and had explained my clients were only going to be in town for 2 days. We did not go see those homes.

Pricing your home

The best advice I can give is, go look at the homes in your area and price range. At a minimum do a drive-by so you can see your competition.  You want to position yourself both in price and “showability” to be the best home in your price range. This is especially important if you have plans and goals. Recently I walked away from listing a previous client’s home, as he wanted to price it fifty thousand over what I thought the market would bear. His comment was “Anyone can sell a home in this market”. I explained all the reasons that was not true.  He did find an agent to list it at his price and, as expected, the home did not sell and the listing expired. I found this tragic, as I knew he had an offer on a home in another state where he was going to move to be closer to his family after having lost his wife to cancer in the last year. Don’t let this happen to you, if you think your home is worth more than your agent is telling you, go take a look at their comparable properties and hopefully they will have also.

Guest Author–     

Marie Flanders is a Silverdale WA Realtor® serving all of Kitsap County. Marie is becoming a regular contributor to the site with articles pertaining to the purchase and sale of Real Estate in Kitsap County. If you have any questions about Real Estate, you can contact Marie here, or you can leave a comment on the article, and she will respond online.

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Posted in Guest Writers, Miscellaneous, Real Estate Bites, Sellers | 3 Comments »

Tags: bremerton home seller tips, kitsap home seller tips, port orchard home seller tips, silverdale home seller tips

Okay, so you’ve outgrown your current home. The new arrival turned out to be twins, your husband’s mother decided to stay a little bit longer than you had anticipated to help out, and you haven’t parked your car in the garage for years! That ‘spacious’ rambler you bought as newlyweds is literally busting at the seams!

So what’s the best strategy for buying your next home?

Is it better to put your house on the market first, get it under contract with a qualified Buyer, and then find your new home?

Or, should you go out and find just the perfect house first, THEN put your house on the market?

There are pros and cons to both approaches. As a real estate professional, I’ve worked it both ways. Many times, it depends on current market conditions. In a fast market, Sellers are less likely to entertain accepting a Contingent offer (this is a contract offer that is contingent – dependent or conditioned upon – the sale of your current residence) . By the time you’ve got the contract negotiated and signed around, another Buyer comes along and ‘bumps’ the contingent offer. However, in a slower market, Sellers may be more motivated to accept a contingent offer. As the saying goes, ”A bird in the hand is worth two in the bush.” In a slower market, a contingent offer is better than no offer. Make sure that you are working with a local real estate agent who knows the current dynamics of the market, and can counsel you accordingly.

Just so you know, most Sellers will perceive a contingent offer as being a weak or less-than favorable offer. Remember that the Sellers have time-sensitive plans and goals as well . By accepting your ‘contingent’ offer, they are taking on certain risks. While their home will most likely continue to be marketed for sale, it typically doesn’t gain the amount of attention or exposure from Buyers that it normally would if still fully available. As such, most contingent offers are submitted at full price. Knowing that a contingent offer puts them behind the 8 ball to begin with, most Buyers will realize the importance of acccomodating the Sellers with either price or other considerations. Additionally, if their home has only been on market for a short period of time, Sellers are not usually not as willing to consider contingent offers. 

In my experience, most of my Clients have found greater success by putting their current home on the market and getting it under contract first before going out to look for the next home. Many times, they can negotiate an extended closing with their Buyers, to afford them more time to find the right home. Once your home is under contract, it allows you better position for negotiating.

Recognize that there are risks and stresses associated with either direction. If you try to submit a contingent offer, there is a chance you will be ’bumped‘ by another Buyer and lose out on the house. It can be extremely heart-wrenching to invest your time in finding just the perfect ‘next’ home, only to lose it to another buyer because your offer was ‘contingent.’

On the other side of the coin, if you decide to get your current home under contract first, there can be a sense of added pressure in finding your ‘next’ home within a reasonable amount of time, and the fear of what happens if you don’t find it? Where will you live?

Making the best decision to suit your specific needs and goals will depend on several issues:

• What are the current market conditions? Is it a ‘fast’ or ‘slow’ market? Are Sellers willing to accept contingent offers?
• What is the current inventory of homes available for purchase in the area you are looking? What are your chances of finding that ‘next’ home in a reasonable time frame?
• How long will it take you to get your current home under contract? Have you prepared it for market? Will it show well? Have you priced it aggressively?

Having the trusted counsel of an experienced real estate professional will help you to better understand the current market conditions, sort through all of your options, and make intelligent, well-informed decisions.

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Posted in Buyers, Real Estate Bites, Sellers | 23 Comments »