Upcoming free (& non-promotional) Home Buyer Education Classes: 
          
Thursday,3/28 /15, from 10am-1pm
        Marshall Community Center, upstairs conference room
        1009 E McLoughlin Blvd, Vancouver Wa (kitty corner from Clark College)

Saturday, April 11, from 9am-12pm
        Marshall Community Center, conference room
        1009 E McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)
 
Saturday, April 18, from 11am-2pm
        Vancouver YMCA, conference room
        11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave)
 
Monday night, April 20, from 5pm-8pm
       Marshall Community Center, conference room
       1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)

 ...if these dates/times don't work for you, we have others. Check out the website for more class dates, times, and locations. PLEASE always check  the web site www.freehomebuyerclasses.com  for any changes regarding the classes!


Remember...with reservation...we will throw in lunch, or dinner!  :-)
~~~~~~~~~


And hello there this week!

      Welcome to Spring!  When the weather is bi-polar, and so is the housing market!  The time of allergies, fast growing grass, homes that fly off the market, weather that is sunny once second & thundering the next, and just for kicks...let's throw in hail, and rainbows too!  Know what I love best about spring....beside the daffodils?  The rainbows because it reminds us that there is always beauty after a storm, cheerful yellow flowers after a winter, and good things to come.  :-)  Unfortunately, spring is also the time of scams in real estate.... this is the time to be aware...if something sounds too good to be true, it usually is.  Always feel free to ask your agent questions about something you see.  Let's start off where we see most of the scams....looking for homes....


So, where do you go to look for homes?  Trulia?  Redfin?  Zillow?  Craigslist?  If you do, then you should know that all of these sites are marketing sites.  They pull their information from one site, and often the information on these sites are incorrect, or out of date.  For example, about a month ago I listed a really cute home up in the Heights area close to SW Hospital.  The sellers are clients of mine, and I helped them buy the home 6 yars ago.  They had just gotten married, and needed a 'starter' home.  This was that home, but now my clients had a toddler, and another on the way, so it was time to sell their 'starter' home and buy the next one.  We put their home on the market, and within 24 hours I was getting phone calls asking if it was for rent.  I was confused..."No, I am sorry.  This home is for sale.  Where did you hear it was for rent?"  Trulia....withing 24 hours of me listing the home, some guy had 'stolen' the pictures and put it on Trulia as a rental.  :-(  I contacted Trulia 3 times asking them to remove it....no answer.  Then I had another call for this home as a rental, this poor couple had actually contacted the person, and this guy had asked to meet somewhere to sign some paperwork, and put down a deposit for the home.  They drove by the home, saw the 'for sale' sign, and called me about it.  This couple was nice enough to forward me the emails this scam artist had sent them so I was able to email this guy telling him to 'cease and desist'.  Not surprisingly, it was shortly removed from Trulia.  Sadly, for many of these so called 'find a home' sites...this is pretty common.  A lot of the information is wrong, incorrect, and not up to date at all.  These sites pull their information from the actual site agents really use. So, let's skip the  middle-man, and go to the site that the agents actually use....RMLS.COM.  Rmls stands for 'Regional Multiple Listing Service.  In the Clark County, lower Cowlitz county you will find homes on the rmls.com.  In Seattle area it is a different mls.  The rmls.com is owned by agents, and when an agent writes up a listing agreement with a seller that agent has a limited amount of time to put that home on the rmls.com.  If the agent receives an offer that gets accepted, and signed around, that same agent has a limited time to take that home off the market.  So, if you go on the rmls.com what do the status's mean?

Active (ACT)...this home is active, and currently available on the market.  This means that the home is available to be shown by your buyers agent.  The agents information that is on the rmls for this home will be the sellers agent and is hired by the seller to represent them....not you.  Call your buyers agent for information on this home.  Your agent will be happy to set up an appointment for you to see this home, and get as much information as they can, on this home for you.  This information may also include asking if there are any other offers on this home.  Active means that the home doesn't have any accepted and signed around offers on it.  There may have been an offer, or maybe an offer that is in counteroffer status, but not accepted yet.  

Bumpable (BMP)... This home is a grey area...it IS still available for showings and offers, but (and this is a big BUT) there is an offer on the home that has been accepted.  The current accepted offer is 'contingent' on something happening first...usually on the buyers getting an accepted offer on a home they have for sale.  This is a 'domino' deal.  You can see it, and make an offer (if you want).  The seller then has to go to the current buyer and they have the choice to either remove their contingency and go forward, or back out.  If the current buyer chooses to go forward and remove their contingency then the home will go to pending and you need to move to the next house.  If the current buyer chooses to back out, then the seller has the right to either accept your offer, or counteroffer your offer.  

Pending (PEN)...  This means that the home you are looking at has a fully signed around and accepted offer on the home.  Legally, per rmls rules and regulations, we are not supposed to show pending homes to a client.  A pending home is no longer available....  Now, even though the home is pending sale, there will still be a sign in the yard.  The 'for sale' sign is marketing, and won't be taken down until after the deal is closed, and the new owners get their keys.  So yes, the 'for sale' sign might still be there, but if the home has an accepted offer on it, the home is considered Pending Sale, and we are not supposed to show it to another prospective buyer.  
Short Sale Pending (SSP)... This home is a short sale where the seller has a 'working offer' on it to the bank.  The seller received an offer, it has been signed around and seller accepted and has been submitted to the bank for their approval,or decline.  In a short sale, the seller no longer has the right to sell their home, only the bank can accept, negotiate, or decline the offer.  This can take anywhere between 6-9 months...or longer.  The bank does not have to negotiate or accept any offer as the bank can just send the home to foreclosure.  The listing price doesn't mean anything because the bank has not accepted that price.  Short sales are like gambling...


Sellers Market... we are very strongly in a sellers market where we have more buyers on the market than we have homes on the market.  Please expect multiple offers on some homes.  Please expect the sellers to counter your offer.  An offer is written by the buyers agent to/for the best advantage for the buyer.  The seller (and the sellers agent) will look at that offer, and if it is acceptable they will sign it around.  Most times the seller will want to negotiate a couple of items...it could be price, it could be closing date, it could be closing costs, or any number of things...maybe they want to exclude some items from the sell of the home that may otherwise be included....  Most of the offers I am making with my clients are receiving counteroffers, and sometimes my clients accept the sellers counter, or sometimes we counter their counteroffer.  Anytime we are in an offer/counteroffer situation though anyone else can make an offer and yes, the seller can accept the other offer.  A home isn't pending until both parties have agreed, signed, and the buyers and sellers agent have the paperwork.  In real estate we have a very important phrase....Time is of the Essence.  This means that everything is time related and contingent upon time.  This is difficult for folks who need/want some time to talk about and discuss things.  The market is moving fast.....faster than is comfortable for most people.  However, please remember that this will be your home, and you need to be comfortable, and happy with it.  No one else is paying the mortgage but you.  :-)  The offer/negotiation process can be frustrating, tense, stressful, and a bit scary....it can also be exciting, nerve-wracking, and fun.  LOL :-D  I guess it is a lot like the rest of the home buying (or even selling) adventure...  a lot like a roller coaster, or driving down Mill Plain. 

    As your agent, I will do everything I can to make it as smooth a process as I possibly can.  Most agents will do all we can to help our clients have as smooth an experience as possible.  There are a lot of other folks involved in the adventure though, so I am going to hope everyone wants to play nice in the sandbox, but it isn't always the case.  There are 28 people involved in the purchase/sale of a home...TWENTY-EIGHT!  You will only see 4 usually....your agent, your lender, the inspector, and the title person.  Most of these people are on your side, but there will be some you aren't.  Your team will do everything they can to help you achieve your goal of KEYS, so hire the team that works best for you.  :-)



   One last thing you need to remember is that a real estate agent is not a sales person.  It is not our job to 'sell' you anything.  We are assistants,  advisers , guidance, and help.  You should not feel as if your agent is trying to sell you a home, or anything else, our job should be to help you in getting the home you want.  This being said remember that you do not get T-Bone steaks for the price of hamburger...Look ONLY at homes within your budget.  ALWAYS ask questions, and expect answers without a lot of lingo.  I was always told that if you can't explain something in a way that the other person can understand clearly, it is because you don't understand it yourself.  :-)
  


    Information is power, and I hope that I am able to help you.  Good luck, and as always...May the odds be ever in your favor out there....  If you are looking for a real estate agent, I would love to be able to help you.  
 
  As always....this is just a quick overview.... please remember that your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your homebuying adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  


If you have any questions about this, or something you have heard...or if you would like me to help you with your homebuying adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help!
 
Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers. 
 
 . ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings... 
 
 
Next Week:   "Hidden" Buyer fees when buying a home
      
                     
Last Week:   Feeding Frenzy Time.....
                     

Have a great day, and I will talk to you soon, 
;-D 
Tracie DeMars 
Real Estate broker  
Re/Max - Van Mall 
360/ 903-3504 cell 
360/ 882-3600 fax 
www.traciedemars.com 
traciedemars@aol.com 
  
“Interested in free and non promotional home buyer classes?  Go to www.freehomebuyerclasses.com for local upcoming classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.” 

"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."  
   - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).

Upcoming free (& non-promotional) Home Buyer Education Classes:

Saturday, 3/21 /15, from 11am-2pm  
        Vancouver YMCA, conference room   
        11324 NE 51st Circle, Vancouver WA  

Thursday, 3/28 /15, from 10am-1pm
        Marshall Community Center, upstairs conference room
        1009 E McLoughlin Blvd, Vancouver Wa (kitty corner from Clark College)

 ...if these dates/times don't work for you, we have others. Check out the website for more class dates, times, and locations. PLEASE always check  the website  www.freehomebuyerclasses.com  for any changes regarding the classes!


Remember...with reservation...we will throw in lunch, or dinner!  :-)
~~~~~~~~~

***ok, it is now Tuesday, and honestly I have debated about whether or not to send this blog this week...or to write something different.  In the end though I have had those people that I have let read it convince me that it is a valid blog right now, and that it is something that many people need to hear.  So, as always, if you have any questions, please feel free to call or email me anytime.  I am always here for your questions, and always....have faith!  :-)   There is an awesome house out there for you and yes, we will find it.   


Happy Saturday night!


  This weekend finds Chris Berg, and I, at the Clark County Event Center for the Clark County Wedding Show.  For some reason they have us tucked into a back corner....hmmmm...  we are hidden from the world....  LOL  That's ok as I like to 'people watch', and this is a fun place for it.  :-)  Of course, not as fun as the Clark County Fair for people watching, but we have some time before that comes up still. 


  I promise to talk about the 'hidden' costs of buying a home next week, but this week I want to give you some words of support, and reassurance...simply because you might be needing it right now...  


   I read reports on real estate because I am such an exciting person.  One of the reports I read said that 40% of the homes sold this year will be sold between now, and June.  Wow!  That is a crazy statistic, but I don't necessarily agree with it because another report I read states that we have 2 1/2 months of inventory on the market.  What does that mean?  It means that if NO other home listed after today, at our current rate of sell, it would take only 10 weeks to sell EVERYTHING on the marker right now....and that is everything from cash only dumps to multi-million dollar homes.  That is crazy!!  Definitely a sellers market right now, and multiple offers are the rule, not the exception,.  The craziest time of the year for the housing market is always March thru June.  Why?  Because people want to get a home before the end of the school year, before summer vacations, and after their tax refunds come in.  This is great, but...(you knew that was coming, right?) if you are searching for a home in one of the more desirable locations, or hottest price ranges, it can be very frustrating.  
   So yes, a LOT of homes will go pending in the next couple of months, and it may be feel that it is 40% of the homes sold for the year, but you have time.   Have faith....the market usually slows down around June.  Homes will still come on the market because some people can't put their homes on the market until AFTER the school year ends.  What this slow down does is allow you a chance to breathe some.  There most likely will still be multiple offers (because of the low inventory), but it won't be such a 'feeding frenzy'.  Yes, March thru June IS 'Feeding Frenzy' time....it usually is.  I had a client last spring that wrote up SIX offers and got beat out EVERY time before we got an offer accepted....Lucky #7...in June.  
   Have faith...don't give up, and certainly don't feel rushed...if you can help it.  I can't stress it enough, but remember that your buyer's agent is here to help you.....like a GPS...  we are not here to 'sell' you anything.  For heaven's sake...don't call the sellers agent!  That is not going to help you in any way as you will be giving up your right to individual representation by someone who should only be representing YOUR best interests....not the sellers, and not their own.  Just saying...  
  Yes, the market is crazy right now, but you don't have to 'buy' into the 'feeding frenzy'.  If you need to take a step back, and breathe some...do it.  You will find a wonderful home...promise!  :-D  


   The average purchase price for a home right now is $225,000.  The average buyer is using a FHA loan, and the majority of those buyers will be using some form of down payment assistance.  So what price ranges seem to be the most popular?
Small acreage homes around $400,000 (or less)
3 bedroom/2 bath homes around $200,000 (or less)
4 bedroom homes around $225,000 (or less)
Townhomes....

Does this all mean that you shouldn't be looking right now?  No....not at all.  Give me a call, and let's go see homes.  If it is the 'right' home, you will be that accepted offer.  IF not...then there will be another home.  Now, more than ever though, only look at homes IN YOUR PRICE RANGE!  Don't look at those homes that are not in your price range, or that are more than you want to spend.  This is your mortgage, so be sure that you are comfy with it.  Ask questions, and expect understandable answers.  
   I have one couple that has been in contact with me for about 3 years now.  Every spring they contact me about homes...and every year what they want is about $10,000-$20,000 more than they can afford.  They don't understand why they can't have the home they want at the price they want to pay.  So, every year they ask me to send them homes in a price range that I told them last year.  Every year they get upset that what they want is no longer in that price range.  This year, Mr has 'firmly' informed me that he is quite upset with the way I keep raising the price of the homes they want.  He let me know that, "last year you said that the homes we want in our kids school district were around $240,000-$250,000.  Now you are saying we need to spend another $10,000-$20,000 for that home.  This is wrong that you keep raising the prices on us!"  My response was that if they had just purchased 3 years ago, those homes would have only been around $220,000.  I promise that I am not out there raising prices on you.  Frankly, I don't have that power....  the market is driven by the buyers and sellers themselves...supply & demand...not me.  I have again, let him know that Spring is quite the crazy time, and that he 'might' have better luck during the fall and winter.  They don't want to move during the school year & winter time...weather-wise.  I get that.  I really do.  This time he asked me if he would be able to offer $20,000 less if he waited until this winter.  Sadly...no...  unless we get a major flux of sellers who want to sell, then inventory is going to remain fairly tight, but...typically during the winter the housing market doesn't move at the speed of light either.  
Spring...yes, it does move very fast...and yes, I understand the feeling of frustration that, as a buyer, you might be feeling.  However, I may be the only agent out there you will tell you to take a breather.  Buy a home when it is convenient, and makes sense, for you. 



   One last thing you need to remember is that a real estate agent is not a sales person.  It is not our job to 'sell' you anything.  We are assistants,  advisers , guidance, and help.  You should not feel as if your agent is trying to sell you a home, or anything else, our job should be to help you in getting the home you want.  This being said remember that you do not get T-Bone steaks for the price of hamburger...Look ONLY at homes within your budget.  ALWAYS ask questions, and expect answers without a lot of lingo.  I was always told that if you can't explain something in a way that the other person can understand clearly, it is because you don't understand it yourself.  :-)
  


    Information is power, and I hope that I am able to help you.  Good luck, and as always...May the odds be ever in your favor out there....  If you are looking for a real estate agent, I would love to be able to help you.  
 
  As always....this is just a quick overview.... please remember that your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your homebuying adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  


If you have any questions about this, or something you have heard...or if you would like me to help you with your homebuying adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help!
 
Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers. 
 
 . ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings... 
 
 
Next Week:   "Hidden" Buyer fees when buying a home
      
                     
Last Week:   What are Closing Costs?
                     

Have a great day, and I will talk to you soon, 
;-D 
Tracie DeMars 
Real Estate broker  
Re/Max - Van Mall 
360/ 903-3504 cell 
360/ 882-3600 fax 
www.traciedemars.com 
traciedemars@aol.com 
  
“Interested in free and non promotional home buyer classes?  Go to www.freehomebuyerclasses.com for local upcoming classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.” 

"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."  
   - Shel Silverstein, American poet, cartoonist and com

Upcoming free (& non-promotional) Home Buyer Education Classes:

Thursday, 3/12 /15, from 5pm-8pm
        Marshall Community Center, upstairs conference room
        1009 E McLoughlin Blvd, Vancouver Wa (kitty corner from Clark College)

Saturday, 3/21 /15, from 11am-2pm  
        Vancouver YMCA, conference room   
        11324 NE 51st Circle, Vancouver WA  

 ...if these dates/times don't work for you, we have others. Check out the website for more class dates, times, and locations. PLEASE always check  the website  www.freehomebuyerclasses.com  for any changes regarding the classes!


Remember...with reservation...we will throw in lunch, or dinner!  :-)
~~~~~~~~~

Happy Monday!


    I really hope you got outside today and this weekend and enjoyed this truly scrumptious weather.  Seriously....does it get any better than spring in the northwest??  


  
   This weekend was pretty busy...on Friday night I met up with one of my clients/friends to list her home for sale since it is now town for her to sell her first home, and buy her next home.   We talked about the process of selling her home, and what she could expect.  We also talked about how long her home might be on the market, and what she could expect with showings.  Her home is adorable, in a great area, with a brand new roof, and priced in that low $200,000's.  We discussed when she wanted me to put her home on the market as an active home.  With the gorgeous weather, we agreed that getting it on the market for this weekend would be good so I entered her home into the rmls Friday night at midnight and ordered the 'for sale' sign from the sign company.  I warned her to be prepared for agents calling to show it Saturday morning.  
   
  Saturday morning rolls around, and I had the privilege to teach the free, community home buyer education class at Marshall Center from 9am-12pm-ish (that went over).  My first text from my client was 9:30am..."we have a showing scheduled!)  Next call was 10:05am..."another showing scheduled!)....10:12am..."OMG...another showing!"  In total we had 5 showings on Saturday...not that it matters.  Why didn't it matter?  Because I received my first text from another agent at 12:08pm..."do you have any offers yet?  Me:  "not yet'...other agent says, "we want to write an offer.  I will get it to you this afternoon.  Are you going to wait, or present all offers as they come in?"  At a little after 2pm, I received another text from a different agent, "we are sending you an offer.  Do you have other offers?"  Me..."yes.  I had another client tell me they were sending in an offer"  Other agent responds with, "we will send you our highest and best.  Are you presenting all offers today or are you going to wait for more?"  


   So, let me explain what is happening here.  We are NOT priced low.  We actually listed her towards the top of her market range (each home has a different market range) because her home is in excellent condition, has a new roof, and is in a very desirable area with very few homes for sale in it.  This is why two offers in the first day on the market.  Three things sell a home....condition, location, and price.  


   What did the agents mean about waiting or presenting all offers though?  Well, in some cases, if a home has a lot of action and offers right away the sellers and/or seller agent choose to wait X amount of days on the market to encourage multiple offers.  Banks do this as banks will not look at any offer until the home has been on the market for 3 days.  I don't agree with this plan.  Multiple offers are tough because someone has to lose, and sometimes it drives the home price up too much.   I told both agents that my client (in this case, the seller) and I would meet up early Sunday morning (she already had plans for Saturday night) to go over both offers.  This is where it starts getting hairy though....


  So, two offers, and I want you to put yourself in the sellers shoes here.....

First offer is for listing price and buyers are requesting 3.5% of closing costs to be paid for by the seller.  They are using a FHA loan with a NHF grant for the downpayment of 3.5% with an interest rate of 4.25%, and buyers putting .5% down.  Closing would be 4/7, and buyer has no other home to sell first.  Standard contingencies of Inspection, Financing, Utilities, Homeowners Insurance, & Optional Clauses.  Buyers agent has sent in the buyers pre-approval letter with their offer as expected.  

     the first offer is actually a great offer except for a couple of things....ALL of the financing information is WRONG!  What do I mean?  
The buyer is using a down payment grant for their down payment so it is a zero down loan.  It is a great program, and the buyers agent knows that I work a LOT with home buyers.  The buyers agent is a real estate friend so she knows that I also co-teach the free community home buyer education classes where we go over these programs.  The buyers agent is a GREAT agent, but she doesn't work a lot with these types of programs so she is getting her information from the buyers lender.  The buyers lender works for the buyer, so she is assuming he knows what he is doing.  Both the buyers, and the buyers agent are trusting that the LENDER is providing them correct information.  Sadly, in this case, both the buyer and the buyers agent assumed incorrectly.  The lender doesn't have a clue...or he does and is charging extra to make more money for himself.....  let me break it down, and see what you think...

The NHF grant is a down payment grant which is 'free money' to the buyer that does not have to be paid back at any time.  The first loan is a standard FHA loan.  The NHF Grant has two options:
**The 3% option covers most of the buyers fees.  The buyer would still be bringing in their earnest money, paying for their home inspection, and their appraisal.  The buyer may also have to bring in between $500-$1000 at closing (which is about 
45-50 days after the offer)  Interest rate for this loan is 4.00%  (per Chris Berg at the class on Saturday)
**The 5% option covers ALL of the buyers fees.  The buyer would still be bringing in their earnest money, paying for the home inspection, and for their appraisal....but the buyer would receive the earnest money, and the appraisal fee back after closing, and no money would be brought in at closing.  The interest rate for this loan is 4.5% (If I remember correctly from the class on Saturday).  
***Both loans have an additional origination fee of 1.5% (it's how they get paid)
****Both loans have a MAX allowance of 3% of seller paid closing costs


Now do you see the issue from the offer?  
-Both loans are zero down loans so where is that .5% down payment coming from?

-There is NO NHF loan of 3.5%....it is either the 3% or the 5%
-The seller can't contribute 3.5% towards closing costs....it isn't allowed by the program.  


Now, the NHF down payment grant is still a relatively new program being offered and only about a dozen lenders can even do it....and from the looks of this....even less understand it.  Lenders don't make very much profit from doing these types of loans...they are usually considered 'loss leaders', so is this guy using that extra .5 from the seller to pay himself?  Is he using that extra .5% from the loan to pay himself?  And what about that interest rate?  If it is a 3% NHF then the interest rate should only be 4%....where is that other .25% coming from?  So many questions, and no answers....  


   So, I know you are wondering how I caught it and not the buyers agent?  How did she not know this?  Please know that I admire the buyers agent in this case.  I really do think she is a great agent.  She does not, however, work with these types of programs like I do.  She, like the buyers, is trusting the lender to give them accurate information and the best information so that she can make a strong offer for her clients and get their offer accepted.  This is a crazy market, and we both know that...offers need to be strong to compete.  This particular lender did his clients, and their agents a disservice.  He killed their offer....  The truth of the matter is that even if my client had NO other offer, we wouldn't have accepted their offer based on all the wrong information that was provided on their offer & on their pre-approval letter.  :-(  


Now, the 2nd offer...


Full price, no closing costs, inspection contingency, optional clause contingency, utilities contingency, and no financing contingency...why? Cash buyer with one hiccup....it is contingent on the sale of the buyers home in Portland.  However, this buyer was smart...she already had an offer on her home, and it had already passed the home inspection.  Contingency offers are scary for sellers since it is contingent on the buyers selling their home before they can buy the sellers home.  I am seeing more buyers making offers on a home before they even have their home on the market.  I do understand where they are coming from, but at the same time....  if you want a seller to consider your offer you need to already have an offer on the home you currently own.  


If you were the seller, which offer would you have taken?

So, last week, another client received two offers on his home.  Let's see what you would do here....

1st offer...
$6,000 less than listing price, but no closing costs.  Standard contingencies, and strong financing of a conventional loan and the potential buyer is putting 27% down.....but it is contingent on selling their home in Portland that they just put on the market.

2nd offer....
$5500 less than listing price, and no closing costs.  Standard contingencies, using a VA loan so buyer is putting No money down.  VA also has stricter guidelines than a conventional loan does so there may be additional repairs and requirements.

Again.....which offer would you take if you were the seller?  


   As you know, I mainly work with buyers.  It is what I do, and what I love.  I list homes by mainly referral...friends, family, past clients (because they are my people and I am always here to help them with their next adventure...wherever it takes them), and my clients friends, and family.  I don't go out and hunt listings like some agents do....so I don't usually have a lot of listings.  I list homes for people I truly enjoy.  It just so happens that I had two cases here in the last couple of weeks that, as a buyer, I want YOU to think about.  Why?  Because whether you are buying, or selling, a home, you are trusting that the team you have hired to HELP you is really doing so.  Your lender & your real estate agent are part of your team.  Our job is to help you with the next step of your life....whether buying a home, or selling a home to get your next home.  Again...HELP!  Our job is to be knowledgeable so that we can assist you.  

....Just so you know... I did call the agent for the first offer this weekend and explained to her the loan program, how it works, and where her offer & lender went wrong.  This is a great program (much better, in my opinion) than the other option out there, and I would hate to see people shy away from buying a home because they are afraid of it.  Luckily, she and I do have a good relationship because I didn't want to come off as a 'know it all'....she is a great agent, but working with a loan she doesn't know anything about.  She did tell me that her clients wrote up an offer on a different home, and that offer was rejected by the seller....and there were no other offers on that home.  This is a shame...  I gave her Chris Berg's information so that she can get more (accurate) information on these great programs out there.  Just so you know....  Chris Berg, Pinnacle Mortgage, 503-320-0925, cberg@pcmloan.com.




   One last thing you need to remember is that a real estate agent is not a sales person.  It is not our job to 'sell' you anything.  We are assistants,  advisers , guidance, and help.  You should not feel as if your agent is trying to sell you a home, or anything else, our job should be to help you in getting the home you want.  This being said remember that you do not get T-Bone steaks for the price of hamburger...Look ONLY at homes within your budget.  ALWAYS ask questions, and expect answers without a lot of lingo.  I was always told that if you can't explain something in a way that the other person can understand clearly, it is because you don't understand it yourself.  :-)
  


    Information is power, and I hope that I am able to help you.  Good luck, and as always...May the odds be ever in your favor out there....  If you are looking for a real estate agent, I would love to be able to help you.  
 
  As always....this is just a quick overview.... please remember that your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your homebuying adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  


If you have any questions about this, or something you have heard...or if you would like me to help you with your homebuying adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help!
 
Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers. 
 
 . ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings... 
 
 
Next Week:   "Hidden" Buyer fees when buying a home
      
                     
Last Week:   What are Closing Costs?
                     

Have a great day, and I will talk to you soon, 
;-D 
Tracie DeMars 
Real Estate broker  
Re/Max - Van Mall 
360/ 903-3504 cell 
360/ 882-3600 fax 
www.traciedemars.com 
traciedemars@aol.com 
  
“Interested in free and non promotional home buyer classes?  Go to www.freehomebuyerclasses.com for local upcoming classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.” 

"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."  
   - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).