Wishing You A Happy Holidays and A Fantastic New Year !!!!

Homes and Equity Real Estate Wishes You A Happy Thanksgiving !!!

Housing market slowdown expected, but prices in most areas are still rising

Thinking About Buying A House? Use This Advice

Buying real estate is something you don't want to take lightly. When you make your purchase you feel comfortable about it, you want to make sure you have as much information about real estate so. This article is here so you can learn some tips that can help you with buying real estate.

If you are looking at buying a home and fixing it up to make some quick cash, you should first invest in some literature on the process and different books about how you can increase the value of your home. This will help you make the most out of your investment.

Do not hesitate to ask a real estate agent or another real estate investor if you are unsure whether or not a property value is fair or not. Never make a purchase without obtaining the fair market value that a property is worth. This will keep you from overspending on a home.

A great tip to use when buying real estate is to thoroughly vet your real estate agent. You can not just trust anyone to do a good job for you. Make sure that you check out this person's references, previous properties he or she has sold, and even speaking with those in charge to see how this individual performs overall.

Take your time to search and evaluate, do not just jump on the first thing you see. Many new home buyers make the mistake of buying the first thing they see and end up in a world of regret. You need to do careful research, and make sure that it is the property for you.

To help you get buy real estate effectively, make sure you are aware of the closing costs before you purchase your property. Sometimes, closing costs can be extremely expensive and will add a considerable portion to the cost of your property. Receiving an estimate on closing costs from your real estate agent will help make you better informed on this issue.

This is what is meant by the phrase, buy low sell high. In just about any market conditions, you will be able to re-sell for closer to the full market value, and this approach is much less risky than buying at market value and waiting for the market to go up.

When buying a home try to buy one that has enough space if your thinking about making additions in the future. You may only need one bedroom now, but you might want to buy a home with more so that you will have room for guests and/or new additions to the family.

Make sure you digested all of the information you have just learned about buying real estate. The only way this information is going to be of use to you, is if you apply the information you just learned. If you need to, come back and visit this article from time to time, to make sure that you remember the key points it presents, about buying real estate.

You want to make sure you have as much information about real estate so when you make your purchase you feel comfortable about it. If you are unsure whether or not a property value is fair or not, do not hesitate to ask a real estate agent or another real estate investor. A great tip to use when buying real estate is to thoroughly vet your real estate agent. To help you get buy real estate effectively, make sure you are aware of the closing costs before you purchase your property. Make sure you digested all of the information you have just learned about buying real estate.

Http://www.HomesandEquity.com

Open up Seattle’s single-family zoning to those who aren’t rich

This is a great article that explains the Housing Affordability and Livability Advisory (HALA) Committee

The recommendations reflect a range of housing types that actually already pepper our single-family neighborhoods.

IN 1993, when I was 28 and my second child had just been born, I rented a two-bedroom house in the Central District near where I grew up. I paid $800 a month.

That’s how my Seattle housing story begins, and it’s typical of my generation. In that house, I started the venture I still run, which now employs 14 people. In time, I was able to buy a house in Ballard that has somehow appreciated to a shocking $700,000.

The housing stories of young people nowadays are radically different. My friend Travana, who grew up in the CD a generation after me, cuts hair downtown and commutes by bus from a row house in Everett. That’s the closest family-sized place she, her husband and their baby girl can afford. She hopes to start a business as a clothing designer soon, if she can get ahead of her bills. My friend Meaghan, a new mom, may move to Renton to find an affordable two-bedroom place. Her husband is starting a new career and Seattle’s rents are crushing their finances. Travana and Meaghan are among the lucky ones — they have jobs and supportive families. Thousands of members of our community sleep under bridges or in cars each night, pushed there in part by our city’s white-hot real-estate market.

Housing affordability has become the defining challenge of Seattle’s growth. For the past 10 months, I’ve served on the Housing Affordability and Livability Advisory (HALA) Committee. Mayor Ed Murray asked us for a plan to turn Seattle back into an affordable city.

First, the purpose of changing single-family zoning is to welcome families who aren’t rich. It’s to enable the Travanas and Meaghans to live in these neighborhoods, too, renting and perhaps buying someday, and contributing their talents to our city along the way. The point of affordable housing is not the housing; it’s the people who will live in it.Of all the recommendations in HALA’s 65-point plan, the most controversial part concerns the city’s single-family neighborhoods. It deserves explanation.

Second, HALA had no choice but to recommend changes to single-family zoning. Affordability demands the reforms. Almost two-thirds of Seattle’s zoned land is currently reserved for detached houses. Seattle cannot accommodate the tens of thousands of people who are moving to our community without many of them landing in the single-family zones. Already, growth has made these neighborhoods exclusive to the point of exclusion — intensifying scarcity means only people with money or people from families with money can buy there now. Even small houses in popular neighborhoods start above a half-million dollars. Seattle is well down the path to Silicon Valley’s $1 million entry price for homeownership.

Third, HALA’s recommendations for bigger buildings in single-family areas are limited and fiddle around the edges, literally. HALA recommends an upzone to just 6 percent of the single-family zones. This 6 percent sits inside or adjacent to the city’s designated growth hubs, urban villages, or alongside arterial strips already lined with big buildings.

Fourth, HALA recommends more flexibility, but not bigger buildings, on the other 94 percent of the city’s single-family zones. These areas would stay under existing rules for building sizes: same height limits, same restrictions on total square footage, same setbacks. What would change is that city codes would allow more options in dividing up the allowable square footage. We recommend more in-law apartments, backyard cottages, cottage clusters, miniature duplexes and triplexes, courtyard housing, row houses, town houses, and stacked flats. We also recommended allowing separate ownership of these dwellings so that more people can afford to buy homes.

These suggestions reflect the range of housing types that actually already pepper our single-family neighborhoods, left over from before current restrictions. My friends Chris and Mary live in Wallingford on a neighborhood greenway. The three-story home they have restored themselves is surrounded by gardens and a chicken coop. It’s divided into three flats and they live on the top floor. My friends Valerie and Brian live in a classic old Capitol Hill house with a downstairs in-law apartment, which they rent to a single mom. Two doors up from my friends Pete and Christine, in a single-family zone in Ballard, is a triplex — two up, one down — built decades ago. My friend Rick lives near Green Lake and can point to the converted corner stores with apartments up top that are sprinkled through his neighborhood.

HALA means to say, in short: more like that! Neighborhoods would feel the same — the same tree cover and lawns, porches and rain gardens, chicken coops and tiny lending libraries — but with more people like Travana and Meaghan and their husbands and children. More people like my own children, now in their 20s, who I hope could live in their hometown someday and possibly own homes. And more people like 28-year-old me.

Alan Durning is executive director of the Seattle-based policy research center Sightline Institute and author of “Unlocking Home: Three Keys to Affordable Communities.” He lives in a single-family zone in Ballard.

http://www.seattletimes.com/opinion/open-up-seattles-single-family-zoning-to-those-who-arent-rich/

Happy 4th of July From Homes and Equity Real Estate

Happy 4th of July From Homes and Equity Real Estate !!

What are Bank Foreclosures and Why are they Important?

These days, one of the easiest ways to save money on real estate is to buy bank owned foreclosures. Bank home foreclosures are a unique form of repo homes for sale in cities across the country including New York, Los Angeles, Miami and more. They are available to the public through auctions as a result of the previous owner's inability to keep up with payments on a mortgage loan. In order to collect the money owed, lending banks will repossess and sell the property and use the sale proceeds as a means of settling the debt.

The interesting aspect of bank foreclosures for sale to potential buyers is that repossessed properties like bank foreclosed homes often sell for much less in this scenario than they ever would on the open market. Since lenders only need to collect a portion of a loan to settle most debt, buying real estate bank foreclosures often means buying property for savings that can range up to 50 % off market value. So whether you're searching for land in Seattle or an apartment in Chicago, you can find it for a great price!

Save Money Buying Repossessed Homes

No matter what you are looking for, you can find it through the property repossessions market for an incredible bargain. There are all sorts of different distressed properties out there; the bank foreclosure process is not unique to any particular type of home! Once you start exploring the market for bank owned properties, you'll find that there are apartments, condos, houses and even commercial seized properties and foreclosed land available. And best of all, any of these kinds of property can be purchased for discounted prices at sales in San Diego, Dallas, Seattle, Indianapolis and beyond!

Just as the repo homes market is not limited to one type of property, neither is it limited only to bank repos! There are many different lenders and mortgage institutions out there that sell foreclosed properties, and it's important to know about all of them in case you decide to take an alternate route to buying bank homes for sale.

Fannie Mae and Freddie Mac are also two incredible sources for finding cheap houses, as they are responsible for thousands of mortgages provided in every state. There really are a lot of options available when it comes to buying homes repossessed by lenders, and some of the best advice a buyer can receive is to explore them all before deciding on the best for your needs.

Investing in Foreclosed Properties

When you choose to invest in bank foreclosures homes or any other kind of REO property, it always helps to have some guidance and assistance, and that's exactly what BankForeclosuresSale.com aims to provide. We'll teach you the ins and outs of buying bank repossessed homes and more for the best deals possible, so you can maximize the value of your investment.

Finding Foreclosure Listings

BankForeclosuresSale.com is one of the most effective services for finding the best bank repo homes in cities like Seattle, San Francisco, Baltimore, and anywhere else where property is in demand. Whether you're looking for places designed for single families or multi families, our database of over 500,000 listings nationwide is the place to find what you need. You can also specially target your search to view property lists for the kinds of sales you want, like those for bank foreclosures for sale or anything else under the sun. We can help make your search for a discount on a property investment painless and truly effective. 

Once you find properties you are interested in it is the perfect time to contact a real estate agent at Homes and Equity Real Estate to help you research more information about the property and eventually inspect and handle the paperwork in the purchase of the property or properties you would like to purchase.

Northwest Multiple Statistics For May

Come August, there will be a new roadblock to closing a deal on a house

by Bernice Ross on Mar 30

 

New integrated disclosure forms will throw a wrench in the homebuying works

 

There’s a shift coming that’s about to wreak havoc at the closing table for agents and clients alike.

On Aug. 1, 2015, the new TRID (TILA-RESPA Integrated Disclosure) forms replace the HUD-1 Settlement and Good Faith Estimate. The Consumer Financial Protection Bureau’s mission is to rebuild the mortgage banking landscape so that the industry will avoid the type of conditions that led to the Great Recession. The CFPB replaces the Department of Housing and Urban Development for oversight because HUD did not provide specific consumer protection.

Everyone agrees that increasing consumer protection is a desirable goal. Nevertheless, the unforeseen ripple effects from these changes could seriously disrupt how the closing process is conducted.

A recent Inman article outlined one of the most serious issues that will result from the new changes handed down by the CFPB: The new rules will require a new three-day waiting period when there are any changes in the TRID forms. The recommendation is to allow an extra 15 days to close your transactions. In other words, 30-day contracts will now require 45 days, and 60-day contracts will require 75 days.

 

Read the entire article at: http://www.inman.com/2015/03/30/come-august-there-will-be-a-new-roadblock-to-closing-a-deal-on-a-house/?utm_source=20150404&utm_medium=email&utm_campaign=weeklyheadlines

Why is housing inventory so low?

by Chris Trapani on Apr 2

 

Parsing the reasons why fewer houses are on the market

 

There has been a great deal of discussion regarding the consistently low housing inventory levels throughout the nation. Very little, however, has been written about the reasons why inventory levels are so low, especially following the economic disruption of 2008-2011.

Understanding the why can be helpful in predicting how these factors might influence longer-term supply levels and future appreciation potential. This knowledge might also shed light on why inventory might remain constrained over the long run.

In the second half of 2011 we began to see an acceleration in the decline of inventory levels nationally, and since that time the available housing inventory has continued to remain historically low. The graph (figure 1) below highlights the continuous low-inventory environment.

Why is this so? There are numerous conditions that have contributed to this phenomenon and bundled together have created an inventory control dynamic that, as prices rise, only serves to limit the number of homes available for sale.

 

To read the entire article go to: http://www.inman.com/2015/04/02/why-is-housing-inventory-so-low/?utm_source=20150404&utm_medium=email&utm_campaign=weeklyheadlines

The Benefits Of A Low Fee Broker

The benefits of a low fee broker for people selling their homes are well-known -- namely, lower commissions. But there are clear benefits for agents as well.

Potential for more business
Though you may be getting lower commissions for each sale when you work for a low fee broker such as Homes and Equity Real Estate Group, you have the potential to get more clients because many people who sell Bellevue real estate want to keep as much of their sale price as possible.

Less work
Low-fee brokers are able to accept lower commissions because they keep their costs lower by offering fewer services to those selling Bellevue real estate. People who use low fee brokers to sell their homes may be responsible for more of the marketing and may even have to do their own showings. This requires less work of the agents, which allows them to spend more time drumming up business or doing other things.

Lower costs
Because the low fee brokerage keeps its costs low, that cost savings gets passed on to the agent. Depending on the brokerage, agents may be responsible for some or all of their own costs when marketing Bellevue real estate, so the less they have to do, the less they will spend. Also, doing fewer showings or open houses can cut down on gas costs and staging expenses.

Lower expectations
People trying to sell a home can have unreasonable expectations of their agent, but those using a low fee broker such as Homes and Equity Real Estate Group may have a more reasonable view of the process. This can make trying to sell that particular piece of Bellevue real estate less stressful.

Overall, while commissions may be lower, there are other definite advantages to working for a low fee real estate broker, and it's something agents may want to consider. 

The Importance of Licensed Real Estate Agents

Today, more and more people would prefer to make payments for their own property than having to pay for rent. They also see this as an investment which is right because it earns them great financial benefits too. This is why the real estate business is now considered a great business type to enter in. Some individuals can even claim that they are a real estate agent in eastside wa but how do you know that they are to be trusted? How do you know that they are certified to do the job and with good quality?

Real estate agents who are licensed are 100% certified to do the job of making sales, examining acquisition, managing rentals or leases. It is a huge plus if the real estate agent that you’re hiring has good working experience especially in terms of trading involving real estate. They also act as effective mediators thru the utilization of gained knowledge about real estate properties dealt with. They are also well versed with the legalities involved on everything about real estate especially about transactions. They are very much qualified to make correspondence especially about some questions regarding real estate  which include property overheads, real estate market assessments  and the trading intention. They are equipped with good communication skills as well as adequate or even impressive knowledge about the standard property sizes, legal limitations, the common repair costs, and property reconstruction. One way to easily get a trusted listing of real estate agents is to check on the yellow pages, on the internet or on local real estate firms. You can also do the word of mouth technique to know the best real estate agent in town. You can ask for recommendations from your friends and family or even some acquaintances.

One thing you should remember when hiring a real estate agent is to make good verifications on the agent’s credibility, success rate and the standard fees charged by a licensed and professional real estate agent. It is advised to make accurate comparisons between the real estate agents of your choosing. This would help you locate the best real estate agent with a good deal and is worth the investment that you’ll be making especially when you are looking for the best real estate agent in eastside wa.

Preparing Your Home for Sale in Eastside WA

When you’re still preparing for home selling, easily getting carried away with the excitement of a successful transaction as well as the benefits it brings sometimes really do happen, but dont get caught up with the tide, know the right moves in preparation for successful homes for sale eastside wa.

It is certainly wise to be really wary of the things that you can make changes in and the things that you cannot change in your home such as the location. We all know that once the construction is done in that specific location, there would be no turning back. even if you no longer like the location, there’s nothing you can do about it. But you can make definite changes on the size of your home as well as its style. Both changeable aspects will of course require money and may even cost a lot but you have to make the right judgement and balancing out to make the important changes. In other words, you are making the right investment to make great renovations and improvements for your home. This would bring even greater advantages such as increasing the home value especially when you’re planning to sell your home in the future. One thing that is also unchangeable is the proximity of the home to different services such as shops, hospitals, centers, church and etc. This is one very important thing with the real estate business since homebuyers would love to have the advantage of having the needed places within reach. But you can't control the quality of the places such as the nearby school for example. You can't change their standards neither can you change the neighborhood that the house is in. Now lets go further on preparing your home for a sale.

There are actually a lot of ways you can do without having to spend so much money to make changes and gain the wonderful achievement of a house sale that is worth it. You can enhance on both the exterior and interior of the home that you have by cleaning up and then doing repainting to freshen up the look. Another thing that you should consider is to ensure that the pricing of the home is according to the parameters or the standards set by the neighborhood in which it belongs. If by chance you are selling homes for sale eastside wa then you should find the right agent to get you appropriate analyses from the market.

The Safety Talk You Need to Have With Clients

September 2014 | By Melissa Dittmann Tracey

 

Keep all parties safe in a transaction by offering buyers and sellers these important tips

 

Have you had the safety talk with your clients yet? It’s not only for their safety but for yours too.

It’s a conversation far too many real estate professionals omit from their discussions with home sellers and buyers. September is REALTOR® Safety Month, and most real estate safety information mostly centers on how to keep you safe when meeting new clients during showings or at open houses. But safety from your clients’ perspective presents an entirely new set of issues.

“When you go to listing appointments, do a security survey with your clients,” suggests safety specialist Tracey Hawkins, founder of Safety and Security Source and a former real estate professional. “Discuss with them how to make their home burglarproof when it’s on the market and how to keep their belongings safe. No other real estate agent is talking about that. This can be a way to distinguish yourself in a listing presentation. They may have already met with four or five other agents, but when you provide them with something different — a handout for a seller safety plan — you help set yourself apart.”

Hawkins provides a checklist for agents to use as they walk through homes with sellers, looking for items to tuck away during showings like those prescription medications and gaming systems and checking the adequacy of the home’s lighting and door locks. She also says safety is an important conversation to have with home buyers prior to viewing homes for sale, particularly vacant homes like distressed properties where squatters could be present or maintenance issues may pose added dangers.

Read the entire article at: http://realtormag.realtor.org/sales-and-marketing/feature/article/2014/09/safety-talk-you-need-have-clients

Napoleon Hill's Think and Grow Rich is Full of Timeless Lessons

01/27/2015 by Joe Tesla Kennedy

 

“Thoughts are things” is the title and the first words of the first chapter of the book.

When I first read those words, I didn’t really understand what they meant – even when I read the first chapter and the examples offered in Napoleon Hill’s classic Think and Grow Rich. It didn’t resonate until I got to the end of the chapter and read, “Whatever the mind of man can conceive, and believe, it can achieve.” Then I started to get it. That was 1972.

By coincidence, it was only a few days later that I heard the late, great Earl Nightingale say, “You become what you think about.” At that moment, I got it. It clicked. And it has clicked ever since then.

More reading and studying about thinking and the thought process revealed that neither Hill nor Nightingale had the original thought.

From Socrates to Samuel Smiles, to Orison Swett Marden, to Elbert Hubbard, to Dale Carnegie, to Napoleon Hill, to Earl Nightingale, to Jim Rohn – they all had their own way of saying THE SAME thing.

Read the entire article at: http://bellevuebusinessjournal.com/2015/01/27/napoleon-hills-think-and-grow-rich-is-full-of-timeless-lessons/

Get inside your clients' heads: 3 psychological lessons for real estate

Kevin Hopp - Contributor

Jan 27, 2015

 

Understanding likeness, trust and loss aversion as they relate to buyers and sellers

 

The practical psychology of real estate has always been to realize that you are selling your client’s dream, not their property. Real estate is not a product like any other, and it is a classic agent mistake to try to turn it into one. Being conscious of how real estate connects people is critical to understanding what would motivate someone to buy or list a house through you.

The way clients search for real estate has gone digital, and more recently, it has gone mobile in a big way. Real estate technology is more prominent than ever before, and companies all across America are trying to “hack” the home buying process. You can spend hundreds and thousands of dollars attempting to set yourself apart with technology. It’s impossible to deny that investing in technology will grow your real estate business in 2015, but never forget that in the end, real estate is about sales, and sales is about people. Here are a basic few tenants of psychology that you can leverage to set yourself apart as an agent.

Read the entire article at: http://www.inman.com/next/get-inside-your-clients-heads-3-psychological-lessons-for-real-estate/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheFutureOfRealEstateMarketing+%28The+Future+of+Real+Estate+Marketing%29

3 Ways to Help Listing Agents Be Proactive

November 2014 | By Zach Schabot

 

Pass these tips on to your listing agents on ways to provide the most accurate and up-to-date listing information to attract buyers and buyer’s agents alike.

Infomercial marketer Ron Popeil had a famous saying. We all know it: “SET IT annnnnnd….. (say it with me now)... FORGET IT!” But Ron Popeil was never a listing agent who had to deal with anxious home owners, was he?

With the rapid rise in technology use, clients expect faster service and more marketing exposure than ever before. The pressure to perform, even in a seller’s market, is increasing every year. Even with proper staging, professional photography, and well-written descriptions, making a listing active and then sitting back to wait for a buyer is simply not good enough.

Here are three proactive approaches that you as a broker can encourage listing agents to take with their listings.

Read the entire article at: http://realtormag.realtor.org/for-brokers/network/article/2014/11/3-ways-help-listing-agents-be-proactive