Hey there~

What a wonderful Sunday....and summer so far!  :-)  Ok...I admit it...I don't like it really hot, so this summer has been wonderful to me!  I am running a bit late this morning as we have been getting ready for the Clark County Fair that starts on Friday.  If you are out and about at the Fair, (and you read this!), please stop and see Chris Berg, or I....we have prizes to give away, and a special prize for readers of this weekly blog.  

Chris has been trying to get me over the pros/cons list of ALL the programs this past couple of weeks, but he has been really busy with pre-approvals....so I thought we could talk a little about them instead this week.  Pre-approvals are so important on quite a few levels, and not all of them are readily known, so let's go through them....


What is a Pre-Approval?  What does it take to get one?  How long does it take to get one?
 A pre-approval from a lender is a snapshot of your current financial situation....DON'T change it once you get your pre-approval without discussing any changes with your lender first.  Even paying off, and closing a credit card can negatively affect your credit.  Weird....I know! 
A pre-approval will require the lender to have copies of your W-2's for the past couple of years, 3 months of bank statements, 1-2 months of pay stubs, and of course, the lender will pull your credit.  It can take about a week (on average) for a pre-approval from a lender.  Remember to ask your lender if your pre-approval has been manually approved by the underwriters.  These are the folks with actual power to approve your loan, and once you have the manual underwriters approval, you are golden!  :-)  It may take a bit longer, but it is worth it!  

Remember that when getting a pre-approval that the lender is actually pre-approving you for a monthly payment and not for the actual dollar amount of the home purchase.  WHAT?!  Yeah...it is true.  The way it works with pre-approvals is that the lender looks at your income, and the takes away your known debts like car payments, credit cards, etc, and this is your debt to income ratio.  Each loan looks at a different percentage of debt to income ratio for your pre-approval.  The lender then adds in an average for your home insurance and your taxes since this has to be added into your payment...and then your lender has to look at current interest rates.  Most lenders will base your pre-approval on a higher interest rate since your interest rate can't be locked until you have a signed around purchase/sale (an offer that is mutually accepted by the person with the legal authority to sell the home.)  

Your pre-approval amount can change over time depending on interest rate fluctuation, property tax fluctuation, and more.  A pre-approval is only good for 90 days and then must be updated.  

As a home buyer you need to be aware of your budget, and the debts that are not part of that pre-approval process.  We all have lives, and you want to enjoy yours...not be house poor....or to not have enough money left over at the end of the month to do those things that you want for fun, or for the home.  



Why is the pre-approval so important before you start looking at homes?
  A pre-approval with a lender is important to both you and your agent for a couple of reasons.  For the buyer the pre-approval is important as it helps you to know what you can comfortably afford, and what types of loans what might work best for your family.  You don't go grocery shopping without knowing how much money you have in the bank, you should never go home shopping without knowing how much payment and home you can comfortably afford.  Your home payment is much more than your mortgage....A mortgage payment will include your principal on your loan, your interest, your property taxes, and your home insurance....this is what's known as a PITI payment.  (Principal, Interest, Taxes, and Insurance).

For your agent having a pre-approval already is important because your buyer's agent wants to show you homes that you will love, and that you can afford.  We don't want to show you a home that you fall in love with, but find out you can't afford.  When this happens it is hard to find another home you love as much as the 'home that got away'.   It is better to start looking at home that are in a price range that is comfortable for you, and your family. 

 Another reason for a pre-approval is that if you find a home you really like you can't even make an offer without your agent being able to include a pre-approval letter from your lender within a couple of hours.  In this market your offer can not, and will not,  be considered by the seller without the pre-approval letter.  Homes that are in good shape and that are well priced sell fast, and you can miss out on the home you want waiting for a pre-approval to come in. 
 
In short, your pre-approval is your passport to you home buying adventure.  First step in any home buying adventure should be the home buyer classes, but the second step is talking to an experienced lender who can offer ALL the loan programs.  I know a lot of real estate brokers will tell you to talk with an agent first, but realistically there isn't a lot we can do for you without that pre-approval letter from a lender.  A good lender will sit down with you and see where you are at, where you want to be, and help you with a plan to get there.  Remember that, just like a buyers agent, the lender works FOR YOU!  We are in the customer service industry....this means that we provide services to you....  give me or Chris Berg at Pinnacle Mortgage (503-320-0925) a call and we will be happy to help!

...until next week... have a good one, and I hope to see you at the Clark County Fair!!  ;-D



If you know anyone who is thinking about buying a home, our next class is Saturday, August 11, 2012, at the Vancouver YMCA located at 11324 NE 51st Circle from 9am-12pm With reservations, lunch is included.... :-)  Don't forget to stop by and see us at the Clark County Fair 8/3 - 8/12.... we have prizes to give away...  :-D

Please let me know if you have any questions! And again as always, if you are looking for a buyer's agent, please give me a call or drop me an email...I would love to help you with your home buying adventure!


Please call, email, text, or even facebook me (at Tracie DeMars Real Estate Q&A) anytime with any questions, or if there is anything I can do to assist you with your home buying adventure! As a buyers agent, I am, as always, here to help!! :-D




Thank you again for your business and for your referrals!




If there is anything you would like to see on here...please let me know and I will make it a weekly note!

...as always...if you have already purchased a home, or no longer would like to receive these emails from me, please let me know and I will be happy to remove you from receiving any more.



Thank you again for attending the home buyer education classes, and I hope that you will continue to refer the classes out to your friends, family, and co-workers. Upcoming class dates and times are located atwww.freehomebuyerclasses.com. Just click on the link on the left hand side. Or you can go towww.learningtobuyahome.com and click the links.

We appreciate your referrals and word of mouth! Also, if you have somewhere that we can place the flyers at, please let me know....
:-D




Next Week: Home Loans Pros/Cons  (he has been busy with pre-approvals, but is working on it. Please call and/or email and I can give you what I currently have)
Last Week: Buyers agency, and buyer broker forms myths & truths

Remember that you can always go to 'Free Home Buyer Education' on Facebook for all of my weeklyblogs and upcoming class dates/times/locations. I post the weekly blogs on there as well. 


Have a great day, and I will talk to you soon, 
;-D 
Tracie DeMars
Buyer's Agent
Re/Max - Van Mall 
360/ 903-3504 cell 
360/ 882-3600 fax 
www.traciedemars.com 
find me on LinkedIn
traciedemars@aol.com

“Interested in free and non promotional home buyer classes? Go to www.freehomebuyerclasses.comor www.learningtobuyahome.com for local upcoming classes, or facebook: free home buyer education.”

*****Remember that if you are interested I can, and will be happy to, set you up on an email that will automatically email you with new home listings in your area and price range as they come up on the market. This email will include all bank owned homes and anything with price changes. Just send me what you are hoping to find, your top 3 things in a home, and what is the best email to send it to. This is with no obligation, and is a good way to 'window shop'. :-)
 

 Happy Sunday (or in my case Friday night)~
    
   I have a confession to make this week...I am typing up this email early....of
course I do have a reason for doing so, you see Sunday is my birthday.  Yeah, after a certain age birthdays aren't that exciting anymore, but still...  :-) 
Saturday I am spending eight hours in a car driving to/from Snohomish for my
aunts birthday party so there went my free weekend this month.  LOL  It is what we do though, right?   :-D
  **Sunday morning here...  Snohomish was wonderful last night, and I enjoyed spending the time with my uncle's family...his wife (my aunt) is a blast!  I am, however, so grateful that I typed this up Friday night because I am TIRED!   :-)**  
  
    For a real estate agent your birth day also means time to renew your license.  I went online and I had to type in my education hours, and which classes I took, and of course, pay my fees.  All good and accounted for.  Earlier this week I was actually still a couple hours short of my required educational hours, but I had already signed up for a two day class.  I am now a CNE...aka Certified Negotiation Expert.  Sound cool?  It doesn't really mean a whole lot...as while some of the class was very good and educational, there was a lot that I did NOT agree with and that I felt was misleading to the public....the very people we are supposed to work for.  So...where do I begin???
  
  I probably start about 3-4 emails a week in my head with the plan of typing them up when I get home, but often forget.  My 2 day class this week kept my mind running with about twice that number.  On a whole, agents want to help you, and we do want to do it ethically and in your best interest.  Real estate is a customer service industry and the vast majority of us want to be your agent for life....we want to be the agent you think of if you have any real estate questions, and if you know of anyone else that is thinking about buying or selling a home.  This is a relationship business.  It really is...  However, not all agents are the same...  just like any other customer service industry we have good ones, and ones that aren't so good.  How do you know though?  Well, you can ask friends/family for referrals, but just because your friend refers you an agent that might not be the right agent for you....it is really a personal decision.  So, again, how do you know???  Ask questions...
   
How long have you been in the business?
     nothing wrong with new agents, they are often very excited to be working for you.  :-)  However, do you know everything about a new job when you start out?  No?  How do you learn?  ...yep, experience.  So, what about the agent that has been in the business for 20 years then?  A Lot has changed in 20 years...heck, a lot has changed in the 9 years that I have been involved in real estate!  We had 4 changes to our paperwork this year alone!!  Sometimes, people can become to complacent and may not be as willing to change with the times...  Again, this is a personal choice....how do you feel about the agent's experience?  ...and
commitment?
  
 How many clients do you work with at a time?
    This is good question because some agents might be fishing for smelt (grab a net and grab all you can), and some might be fishing for salmon (wait for the good ones, and throw the rest back).  Neither approach is a good one.  I always think of meeting a new client as a form of 'dating'.  A good agent/client relationship works because both parties want it to work.  Sometimes personalities simply don't 'click', and that is ok too.  Find a buyers agent that you feel comfortable with, but please, by all means...ASK QUESTIONS!  If you aren't sure about something, or have a concern, please, again, TALK WITH YOUR AGENT.  We are here to help, and as agents we really want to, but often we don't know because you don't say anything.  :-)  Remember, this adventure is all about YOU...not us.  A good buyers agent is like an excellent support system, but the focus of the home
buying adventure must be about you, the buyer...
 
   This is also a good question because it can help you get a feel for how much time your agent might have for you. For example, I am a sole proprietor...I have  no assistant or help, so I only work with 3 active and looking buyers at a time. I limit this so that I have enough personal time for each client, and still have time for my family.  Family is very important as well....
  
What times/days are you available for showing?  How do you like to communicate?
     Ahhhh...great question!  Does that agents times work with your schedule?  with the way you prefer to communicate?  
 
How many homes do you sell per year?
     If an agent sells mostly high end homes they may not have to sell as many homes per year as some other agents do.  For instance, I work mainly with first time home buyers so I need to help between 20-24 homes per year to make enough
to support my family.  This is my job...my profession, and yes, how I help to
support my family.  I am lucky enough to work at something that I truly enjoy,
and for that I feel blessed.  The real question is really full time vs part
time.  Is your agent a full time real estate agent, or a part time real estate
agent?  Does your agent work at another job that they are going to have to split
their time with?  Or are they going to be able to be fully committed to
you?
  
 What is the average cost of the homes you sell?
     This is pretty important as every price range is unique.  Someone who is used to selling high end homes may not be as skilled with the first time home buyer price range and vice versa.  
   
Do you work with more sellers or buyers?  How many buyers and/or sellers did you work with last year?
     This is a lot like the previous two questions, and really ties into it.  From taking our home buyer classes and from the weekly emails you know that a sellers agent and a buyers agent are two very different things....they are really polar opposites.  If an agent is more experienced, or prefers to work with sellers then you need to ask themselves how good they are going to be as
your buyers agent....and again, vice versa.
  
How do you feel about Dual Agency?
   this is a HUGE question!  You all know how I feel about dual agency...I am a strong believer in every buyer having their own agent, and in every seller having their own agent.  I honestly believe that an agent can't serve two masters, and in trying to do so an agent really only serves themselves.  I just don't see the benefit to the buyer/seller in having the same agent on the one
home...  I just don't.  Again, this is up to you...  dual agency is not illegal in Washington, it is only my opinion that it isn't really ethical. 
DISCLAIMER TIME....**I am probably going to receive some agent flack on this when I blog about it, but again, this is my opinion and based on my experience.  The next question is another question that I am sure will garner some flack from other
agents.  Please remember that every real estate agent/broker works differently...you need to ask questions to make sure that the person who you have hired to help you with your home buying adventure is a buyers agent that you feel comfortable with, trust, and don't feel pressured by.  Also make sure that the agent is not just telling you what you want to hear.  One of the hardest parts about being a buyers agent is telling me people the ugly truth that they might not want to hear, and there are quite a few agents who won't tell you the 'ugly truth' because they are afraid they will lose your business.  I am a firm believer that the ugly truth is always better than a pretty lie.  I want my clients to succeed with their home buying goals, and I think the 'pretty lies' sets everyone up for disappointment.  My job is to be a matchmaker....not a heartbreaker.  :-)**
  
Do I need to sign a Buyers Agency?
Again...one of the more important questions you can ask.  As you know from taking our home buyer classes, and from my weekly emails, you know that this again, is one of those things that I really don't agree with....but a LOT of real estate agents
do....and there are a lot of scripts to convince you that you want to sign one.  A buyers agency agreement is where you agree, in writing, to work with that one agent for a specified length of time.  For that time period (and for a length of time after that) you are LOCKED in with that real estate agent and if you chose to fire that agent and purchase a home with a different agent you are legally contracted to provide a commission to the agent you, in essence, fired.  Many agents also write in, or can convince you that it is ok, that you provide an additional commission amount to your agent above, and beyond, the BAC (Buyer Agent  Commission) that is being offered to and split with your agent by the sellers agent.  Some scripts...

•  "There are a lot of papers in real estate and this is just another one that I need to
  have you sign..."
•  "By signing this form you are saying that I am your agent, and that you are my
  client.  It says that we have a working relationship and that we have
  responsibilities to one another. Without this form we don't have a agent/client
  relationship and you are just a customer...."
•  "I am willing, as a agent, to put my responsibilities to you in writing, in a legal
  form, so that you know that I take those responsibilities seriously.  Only a
  buyers agent who really takes these seriously will put it in
  writing..."
•  "This is a required form in my office that I need to have you sign..."
•  "This  piece of paper says that I am working with you, and you are working with me, and
  that we are working together to help you find a home.  These are my
  responsibilities to you, and yours to me as your agent.  As a real estate agent
  this is how I get paid....how I support my family..."
•  "By signing this form, you become my client, and I have a fiduciary responsibility
  to you, and your goals..."

   All of the above comments (in their various forms) are scripts that agents are taught, or come up with to convince you to sign a buyers/broker agreement.   Some truths...

•  You do NOT have to sign this form.  This is a legal contract, but it is NOT a
  required one in the state of Washington...again, you are not required to sign
  this form if you do not want to.
•  Even without signing this form, if you are a client, you are a client, and your agent
  should already have a fiduciary responsibility to you, and your goals.  If you
  have chosen to work with an agent then that agent works for you...regardless of
  whether you sign a buyers agreement or not.
•  By signing a buyers agreement you do have the right to still fire your agent,
  HOWEVER you can be held responsible for that other agents commission.  Number
  One reason why an agent wants you sign the buyers agreement is because they are
  afraid that they might 'lose' your business...and therefore your paycheck.  My
  belief is that excellent client service makes for good client loyalty. 
  Sometimes a relationship doesn't work out...it happens for whatever reason, but
  that is life.  Sometimes meeting with a client is a lot like dating.  Sometimes
  the relationships is short, and sometimes long term..., but everything happens
  for a reason.  :-) 
•  A buyers agent is FREE to the BUYER!  The buyer shouldn't be paying for their real
  estate agent.  If a home is on the rmls, and it meets the home guidelines that
  the buyers have laid out, then the buyers agent has a responsibility to show
  that home to the buyer and do everything the buyers agent can to help the buyer
  get that home....regardless of how much the BAC (see above) is.  There are agent
  who will ask to you to pay the difference (and yes, there are scripts for that
  as well), but you can say "no".  Be careful here because if anything is in
  writing you could be giving your agent permission not to show you homes under a
  certain amount of BAC.... 
•  Just because an agent doesn't choose to use these forms it doesn't mean that they
  don't take their responsibilities seriously, and every agent is held to the same
  ethics, and standards...with or without a buyers agreement signed. 
•   There is no standard time for a buyer to find a home.  I have had clients find a home
  in 2 days, and clients who needed 3 years.  Every buyers home buying adventure
  is different.
•  You do not need to sign a buyers/broker agreement for your agent to get paid. 
• A buyers agent only gets paid after you get keys.  Be wary of an agent who tries to slip one in when writing the offer.

I could go on all day about this topic, but I think I have taken enough of your time today.  As always, if you are looking for a buyers agent, I hope to be able to help you with your home buying adventure!  I want to be your agent...for life.  :-)  I am always available for questions...
  
If you know anyone who is thinking about buying a home, our next class is Saturday, July 28, 2012, at the Vancouver YMCA located at 11324 NE 51st Circle from 10am-1pm    With reservations, lunch is included.... :-)  Don't forget to stop by and see us at the Clark County Fair 8/3 - 8/12.... we have prizes to give away...  :-D
 
Please let me know if you have any questions!  And again as always, if you are looking for a buyer's agent, please give me a call or drop me an email...I would love to help you with your home buying adventure!
   
Please call, email, text, or even facebook me (at Tracie DeMars Real Estate Q&A) anytime with any questions, or if there is anything I can do to assist you with your home buying adventure! As a buyers agent, I am, as always, here to help!!
:-D
   
Thank you again for your business and for your referrals!
   
If there is anything you would like to see on here...please let me know and I will make it a weekly note...as always...if you have already purchased a home, or no longer would like to receive these emails from me, please let me know and I will be happy to remove you from receiving any more.
   
Thank you again for attending the home buyer education classes, and I hope that you will continue to refer the classes out to your friends, family, and co-workers. Upcoming class dates and times are located at www.freehomebuyerclasses.com. Just click on the link on the left hand side. Or you can go to www.learningtobuyahome.com and click the links.
  We appreciate your referrals and word of mouth! Also, if you have somewhere that we can place the flyers at, please let me know....
:-D
  
Next Week:  Home Loans Pros/Cons  (sorry!  this was supposed to be this week, but I am waiting for updated information from my lender.  It will be next weeks!)
Last Week:  Why is your rent going up? ...and other frequently asked buyer questions
 
Remember that you can always go to 'Free Home Buyer Education' on Facebook for all of my weekly blogs and upcoming class dates/times/locations. I post the weekly blogs on there as well. 

Have a great day, and I will talk to you soon,
;-D
Tracie DeMars
Buyer's Agent
Re/Max - Van Mall
360/ 903-3504 cell
360/ 882-3600 fax
www.traciedemars.com 
find me on LinkedIn
traciedemars@aol.com
 
“Interested in free and non promotional home buyer classes? Go to www.freehomebuyerclasses.com or www.learningtobuyahome.com for local upcoming classes, or facebook  free home buyer education.”
 
*****Remember that if you are interested I can, and will be happy to, set you up on an email that will automatically email
you with new home listings in your area and price range as they come up on the
market. This email will include all bank owned homes and anything with price
changes. Just send me what you are hoping to find, your top 3 things in a home,
and what is the best email to send it to.  This is with no obligation, and is a
good way to 'window shop'. 
:-)

 
 
 
 
  
 
 
 
 
 

Happy Monday!

I apologize for the lateness of the email this week....  I had a home buyers class yesterday and a killer migraine.  I came home after the class, took my medicines, and went to bed.  The weather changes, and humidity are murder on my migraines!  

So...I hope you had a wonderful weekend!  :-D  I am going to address some questions that I have gotten recently in this email, and I hope it helps you.  As ever, if you have any other questions, or would like some more information, please email or call me anytime!  If you are looking for a buyers agent to help you with your homebuying adventure, I hope you will call me as well!  :-)

Why is my rent going up?
   I get this question quite frequently lately.  With today's home prices, and the low, low interest rates you can buy a home with mortgage about as much as you are paying for rent.  So why would rents be going up if you can buy a home for the same monthly payment??  In a normal market rents would actually be going down, but we are not in a 'normal' market.  Your rent keeps going up because of all the folks who are losing their homes.  When someone loses their home to either short sale, or bank foreclosure they can not buy a home for at least 3 years....they are now a portion of the population that is forced to rent. This is the first time we have had such a large portion of the population who can not buy, and yes, landlords, and property management companies know this.  Many places have waiting lists for their rentals, so they can can raise rents...knowing that many folks have no choice.  

What happened to all the homes?
   This is also a question that I have been getting a LOT in the past couple of weeks, and it is a three fold answer...  
The first part of the answer has a lot to do with the previous question and answer.  Many renters are realizing that they can buy a home for their same monthly rent payment, and they are doing so.  Why pay someone else's mortgage when you can pay your own, and get the tax credit for it?  
The second part of the answer has to do with the time of year we are in...  I like to refer to this time of the year as 'feeding frenzy' time.  Many folks want to move during the summer for weather reasons, and of course, between school years.  Right now homes are getting multiple offers, and selling for quite a bit more than they were 6 months ago.  June, July, August are the most expensive months of the year to purchase a home.
Which brings me to the third part of the answer...the market itself.  Currently we have about twice (if not more) home buyers out there than we did earlier this year, but the amount of homes on the market for sale has not increased to support that many new home buyers.  So...it is a question of supply and demand....we have higher demand, but not the supply of homes to support those home buyers.  What this has done is to increase home prices, and to create that 'feeding frenzy' market that I just talked about.  

What can you do?
   I had another agent ask me why I am not as busy right now as most agents....I told her because I am advising my buyers to wait.  She looked surprised, and you might be as well, but seriously...if you can wait a little while then do so.  Why?  Because it is a feeding frenzy out there right now.  There is a really good chance that if you can wait until the kids go back to school that you will have a much better chance of finding a home you will love closer to the price range you want to spend...and probably with less competition.  Historically, the best time to find a home for the least amount is October, November, December, January, and February.  Now honestly, I have no crystal ball and anything can happen, but on average...these are your best months for home buying.  September and March can swing either way....it depends upon the market.  
  I am not saying to stop looking entirely, but I am saying that you shouldn't buy into the 'feeding frenzy' that is currently going on.  If you see a home you like right now, let's go check it out!  :-)  However, don't be discouraged if you aren't seeing anything you like right now...  there will be more homes coming on the market.  There are always new homes coming on the market...always!  Will we see a whole bunch of homes coming on the market here soon?  Probably not...the amount of homes coming on the market have been holding pretty steady for a while now.  The thing is that once school starts a lot of buyers stop looking.  There are a couple of reasons for this...they don't want to move around the holidays, they don't want to move in bad weather, or they don't want to move while school is in session.  This makes looking for homes once school starts not as crazy as it is right now.  :-)

Will home prices go back down?  What about interest rates?
    Again, I don't have  a crystal ball (and boy, do I wish I did!), but honestly I don't see prices going down to the prices we had last year since the home prices last year were higher than the home prices the year before.  Home prices are on the rise as we have a more stable market.  I do think the home prices will level out a bit during fall and winter, and maybe go down a little....they historically do so, but again, no crystal ball....  What usually helps home buyers is that a lot of home buyers who are looking right now (creating such a high demand which pushes the prices up), will drop off either because they couldn't find anything and are frustrated, or because they are overpaying for a home this summer.  When the glut of home buyers drop off then home prices will stabilize a bit and mellow out.  
From what economists and my lender is telling me...they don't foresee interest rates changing radically anytime soon, so waiting a couple of months shouldn't hurt you there.  

I can't afford to buy a home right now...
  I ran into a guy at the the YMCA last week who was asking about the home buyer classes, and saying that he can't afford to buy a home right now.  His rent is $950 a month....guess what?  He can buy a house for just a little more than that!  He was surprised to say the least.  Most people are afraid to buy a home...mostly because they think they can't.  Anyone can buy a home....yes, anyone.  Not everyone is ready immediately, but with help, and the right information, anyone can get ready.  He is taking the class on the 28th to find out what he needs to know.  The class is at no obligation, and that helps!  :-)

What about down payment?
   He then asked me about down payments.  There are a lot of ways to get a down payment for a home...  401k, gifts, and state loan programs that can help you with the downpayment you need.  So how much down payment do you need?  For FHA (which is what 90% of what home buyers use) the down payment requirement is 3.5% of the purchase amount.  Yes...there are 100% loans available....for all of Clark county!

I am not ready to buy a home right now...
   That is ok!  Many people are not ready to buy a home right now.  The average person who takes the home buyer classes is not ready to buy a home for about 6 months or so.  So why take the home buyers class right now?  The free community home buyer education classes are meant to help people to get ready to buy a home.  We give steps of what a buyer needs to know to get ready to buy a home....So instead of 'falling' into buying a home a person can plan for buying a home, making good decisions that will help them in the long run.  

Are all home buyer classes the same?
   NO!  Not all home buyer classes are the same!  Each class is taught by different instructors according to our experience and beliefs.  I have been teaching home buyer classes for about 8 years now.  We try to go over ALL the pros/cons of ALL the loan programs and all the paperwork involved in the lending and home buyer process.  Our classes are taught with enthusiasm, and experience, and with no obligations.  Recently we have been able to shorten our classes to 3 - 3 1/2 hours rather than the 5 hours we used to do.  There is a pro/con to this as well though...  Our classes are blunt, and we don't sugar coat anything...we tell it like it is, and what all those papers REALLY mean.... we had someone who came to the class who did not appreciate this, and we were told that we needed to be less....to tone down our classes for fear that we might be offending people with our honesty and that not everyone wants to know the truth (what the short of it came down to), and we said we could not do that.  The point of the classes is to give class attendees accurate information  about all the loans (yes...ALL of them) and about ALL the papers someone might be asked to sign so they know what they are signing....and how it will affect them in the long run.  So...no, not all classes are the same.  My advice is to take a couple of classes...and to talk to the instructors...ask questions..and of course, make sure you are getting ALL the information.  There are a lot of classes out there...some long, and some short.  Not all classes are the same!  We have no outside affiliations with any government or corporation so that we can tell it like it is.  
More people will do more research when buying a car than when buying a house...DO YOUR RESEARCH!  Get the information you need so that you can make the best decision you can for you, and your family.  As a buyers agent, we are ALL here to help!  



If you know anyone who is thinking about buying a home, our next class is Saturday, July 28, 2012, at the Vancouver YMCA located at 11324 NE 51st Circle from 10am-1:30pm    With reservations, lunch is included.... :-)

Please let me know if you have any questions! And again as always, if you are looking for a buyer's agent, please give me a call or drop me an email...I would love to help you with your home buying adventure!
 
Please call, email, text, or even facebook me (at Tracie DeMars Real Estate Q&A) anytime with any questions, or if there is anything I can do to assist you with your home buying adventure! As a buyers agent, I am, as always, here to help!! :-D

 
Thank you again for your business and for your referrals!
 

If there is anything you would like to see on here...please let me know and I will make it a weekly note!

...as always...if you have already purchased a home, or no longer would like to receive these emails from me, please let me know and I will be happy to remove you from receiving any more.
 
Thank you again for attending the home buyer education classes, and I hope that you will continue to refer the classes out to your friends, family, and co-workers. Upcoming class dates and times are located atwww.freehomebuyerclasses.com. Just click on the link on the left hand side. Or you can go towww.learningtobuyahome.com and click the links.

We appreciate your referrals and word of mouth! Also, if you have somewhere that we can place the flyers at, please let me know....
:-D




Next Week:  Home Loans Pros/Cons
Last Week: Inspections...questions to ask

Remember that you can always go to 'Free Home Buyer Education' on Facebook for all of my weekly blogs and upcoming class dates/times/locations. I post the weekly blogs on there as well. 


Have a great day, and I will talk to you soon, 
;-D 
Tracie DeMars
Buyer's Agent
Re/Max - Van Mall 
360/ 903-3504 cell 
360/ 882-3600 fax 
www.traciedemars.com 
find me on LinkedIn
traciedemars@aol.com
 
“Interested in free and non promotional home buyer classes? Go to www.freehomebuyerclasses.com orwww.learningtobuyahome.com for local upcoming classes, or facebook free home buyer education.”
 
*****Remember that if you are interested I can, and will be happy to, set you up on an email that will automatically email you with new home listings in your area and price range as they come up on the market. This email will include all bank owned homes and anything with price changes. Just send me what you are hoping to find, your top 3 things in a home, and what is the best email to send it to.  This is with no obligation, and is a good way to 'window shop'.  :-)

Happy summer!
 
I have been getting quite a few emails, and phone calls lately regarding
that most dreaded of mail.....Tax Assessment!  Yep...it's tax notice time
already for many of you.  Wait!  What?!  Taxes??  I know some of you might think
I am crazy...(ok, maybe I am a little)...I mean, didn't we already take care of
taxes for this year??? 
 
Well, there's taxes, and then there are property taxes.  The tax assessed value of your home is what
your property taxes are based on.  Property taxes are due April 1st and October
1st.  The April 1st portion is from January 1st to June 30th (yes, due April
1st), and the October 1st portion is from July 1st to December 31st (and yes,
due on October 1st).  Sometimes you might get a bill in the mail for your
property taxes....good information, but no worries since your taxes should be a
part of your mortgage payment, and will be paid by your mortgage company out of
your escrow account. 
 
So...then what I am talking about?  Many people are getting a notice of tax
assessed value in the mail right now, and might be freaking out because it is a
lower value.  Please remember...TAX ASSESSED VALUE IS NOT MARKET VALUE!      :-)
 
 
There are 3 values to a home:
--Tax assessed (usually the lowest as this is what your property
taxes are based off of)
--Building value (usually the middle as this is what it would cost
to re-build your home in case of fire...or other disaster)
--Market Value (usually the highest as this is what your homes
value is were to sell it)
 
Being that we have had a weird market the past couple of years our 3 values
kind of got mixed up and are still trying to re-align.  In the past year or two
many people were purchasing homes for about (or sometimes even under) tax
assessed value, and the building value has been sky high....meaning it costs
more to re-build your home than what it is worth. For some, in the past couple
of years, you were able to take your appraisal from purchasing your home to the
county and have your taxes reduced since you might have purchased it for less
than tax value.  Please remember... TAX ASSESSED VALUE RUNS A COUPLE OF YEARS
BEHIND THE MARKET.  :-)  What this means is that the tax assessed value you are
currently seeing is really from a year or so ago....it is NOT your current
value!  HOME VALUES HAVE BEEN GOING UP,  and yes, your home is worth more than
you think.  :-)
 
Our three home values are currently running about:
--tax assessed value (lowest)
--market value (middle)
--building value (highest)
 
What this means to you is that the market value is going up, and is no
longer at tax assessed value again...building value is still a bit higher than
market value, but not by much.  Our market is correcting itself, and this is a
good thing for everyone because it is an indicator (economically speaking) of a
more stable economy.  The 3 values are still fairly close to one another, but
please don't despair when you get your tax assessment in the mail....the good
news is that your property taxes will go down, and so will your mortgage
payment.  Your principal and interest rate on your mortgage payment can not
change, but property taxes, and insured value (and owed amount) do change....so
your mortgage payment can change based on those two things.
 
Tax assessments are run every couple of years....and when yours is done
depends on where you live.  Not everyone will be getting a tax assessment in the
mail....but you will...eventually...  If you have any question regarding your
homes current value, please let me know.  I can give you a rough guesstimate of
value based on the homes in your area...or if you would rather, I can give you a
CMA (comparable market analysis) based on sold, pending, and currently active
homes.  The CMA does take a bit longer, but I am happy to help with that.  As
always, there is no obligation...help is always freely given.  :-)
 
Please call, email, facebook, or text me anytime with ANY questions
regarding your home value, or anything else....You know that I am, as
always, here to help!  I believe in long term commitment so I am committed to
helping you...now, tomorrow, next year, 10 years from now...etc... it is what I
am here for!  ;-)
 
Thanks for calling or emailing!!  ....and as always, thank you for your
referrals!!!  (just remember to let me know where the referrals are coming from
so I can thank you properly!)  :-D
 
 

Have
a great day, and I will talk to you soon,
;-D
Tracie DeMars             
   
Buyer's
Agent
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 or
www.learningtobuyahome.com for
local upcoming classes, or facebook free home buyer education.”
 





"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).

Happy HOT Sunday!
 
Yes...I am a wimp!  Today, I am grateful for my AC...whew!!  :-)  I
hope you had a wonderful, and safe, 4th of July...and that you were able to take
a moment to thank a veteran...  Remember, if you are a veteran (90 days of
active duty) then you qualify for a VA loan, and honestly there isn't a con to
the VA loan!  If you are interested in ALL the pros/cons of ALL the loans that
are available....come to a class.  :-)
 
I have an inspection scheduled for tomorrow at 9am.  Inspections
can be scary....I mean, what happens if the inspector finds something?!  Well,
guess what?  The inspector WILL find something!  :-)  I don't care if the home
is 100 years old or brand new....you should get a home inspection.  Not all
inspectors are the same...you need to make sure you ask the right
questions...and PLEASE, as the buyer, you SHOULD be at the inspection, and so
should your buyer's agent.  As a buyers agent, my job is to be with you through
the entire process, and this is a big one. 
 
So...what happens during the inspection?
 
Home inspections are very important in your home buying adventure,
and even brand new homes should have a home inspection done.  Remember, it's not
the home builder you are checking out, but the work done by the contractors they
have hired.  The city/county inspectors who come out do NOT check for the same
thing a home inspector does.
 
When hiring a home inspector some good questions to ask them are:
 
How long have you been licensed?
    Licensing for home inspectors in the State of Washington has only has
only been required since September of 2009.
 
How long will the inspection take?
    The average home inspection should take between 2-3 hours.
 
What does your home inspection entail?  What will you
do?
    A home inspector should be walking and checking the roof.  A roof must
have a 3-5 year certificate for state loans, VA loans, and FHA loans.  A home
inspector should be walking around the exterior and checking the siding, and
looking at the housing vents for broken/missing screens.  The home inspector
will also be looking at vegetation around the home, and look at the water meter
on the curb for current activity.
Inside the home, the inspector will crawl the crawlspace looking for leaks,
groundwater, evidence or signs of current, or past animal activity, etc.  The
inspector should also be checking the atticspace for signs of current or past
leakage and/or mold.
The inspector will also be looking at all water faucets and toilets for
leakage, drainage, and more.  The inspector should also be checking all windows,
electrical outlets and the main electric box for safety hazards, vents and
heating units, and more. 
 
Do you (the inspector) have a water reader?
    Some inspectors have a water reader that reads moisture 1 inch into a
surface, be it wall or floor.  These are wonderful for finding such things as
leaking wax seals in toilets (very common), moisture in a wall around a window
that hasn't had its' weep seals cleaned, moisture in walls or flooring around
such places as washer/dryers, fridges, dishwashers, showers, toilets, and
bathtubs.
 
What paperwork will be included at this
cost?
    Some inspectors will charge you extra for a FHA Dry Rot and Pest Report,
or for a print out of your inspection.  You will need a FHA Dry Rot Pest Report
for the state loans, VA loans, and FHA loans.  Make sure your cost includes a
copy of this.  Also, ask how the inspector will get you a copy of your
inspection, in what form will it come to you, and how soon can you expect it. 
The average cost for a home inspection is around $325-$350, but the cost can
vary with the size of the home you are purchasing.
 
Some things to Remember:

•    The home inspector works for YOU.  You pay for the home inspection at
  time of service, and this is a non-refundable fee, but it is also a legal reason
  to back out (if you want) and get your earnest money refunded to you.


•    A home inspectors job is give you a run down of the homes condition and
  what you can expect in the areas of maintenance, and what needs to be done for
  safety and/or health reasons. If you want to be a part of the home inspection,
  make sure you let the inspector know that you want to follow him/her around.
  


•    Anything that is a health or safety concern, or that needs to be done by
  a licensed contractor is something that needs to be discussed with your buyer's
  agent for repair. 


•    Both YOU and YOUR AGENT should be there at the time of the home
  inspection.  Again, the home inspector is your employee for the day, so be sure
  to walk with them and learn about your potential new home.  Ask questions!  Take
  notes if you want...


•       In case of a bank owned home, make sure that the water is turned on
  for the home inspection.  Both your agent, and the inspector should be assisting
  with this.  If the water is NOT turned on then it is outside the scope of the
  inspection. 

 
 
If you know anyone who is thinking about buying a home, our next
class is Saturday, July 28, 2012, at the Vancouver YMCA located at 11324 NE 51st
Circle from 10am-1:30pm!  With reservations, lunch is included.... 
:-)


Please let me know if you have any questions! And again as always, if you are looking for a buyer's agent,
please give me a call or drop me an email...I would love to help you with your
home buying adventure!
 

Please call,
email, text, or even facebook me (at Tracie DeMars Real Estate Q&A)
anytime with
any questions, or if there is anything I can do to assist you with your home
buying adventure! As a buyers agent, I am, as always, here to help!!
:-D


Thank you
again for your business and for your referrals!


If there is anything
you would like to see on here...please let me know and I will make it a weekly
note!

...as always...if you
have already purchased a home, or no longer would like to receive these emails
from me, please let me know and I will be happy to remove you from receiving any
more.

 
Thank you again for
attending the home buyer education classes, and I hope that you will continue to
refer the classes out to your friends, family, and co-workers. Upcoming class
dates and times are located at www.freehomebuyerclasses.com.  Just click on the link
on the left hand side.  Or you can go to www.learningtobuyahome.com and click the links.  
 

We appreciate your
referrals and word of mouth!  Also, if you have somewhere that we can place the
flyers at, please let me know....
:-D
 
 
Next Week: Why is your rent going up?  Don't
think you can buy a home?  Why? or Home Loans Pros/Cons
Last Week:
what happens AFTER you make the offer?
 
 
Remember
that you can always go to 'Free Home Buyer
Education' on
Facebook for all of my weekly blogs and upcoming
class dates/times/locations. I
post the weekly blogs on there as
well. 
  
Have a great day, and I will talk to you soon,
;-D
Tracie DeMars
Buyer's Agent
Re/Max - Van Mall
360/ 903-3504 cell
360/ 882-3600
fax
www.traciedemars.com

find me on
LinkedIn
traciedemars@aol.com
 
“Interested in free and non
promotional home buyer classes?  Go to www.freehomebuyerclasses.com or www.learningtobuyahome.com for local upcoming classes, or facebook
free home buyer education.” 
   
*****Remember that if you are interested I
can, and will be happy to, set you up on an email that will automatically email
you with new home listings in your area and price range as they come up on the
market. This email will include all bank owned homes and anything with price
changes. Just send me what you are hoping to find, your top 3 things in a home,
and what is the best email to send it to.  This is with no obligation, and is a
good way to 'window shop'. 
:-)