Marybeth Cicirello * 206.214.6556 * marybeth.cicirello@exprealty.com * Downtown Seattle Real Estate

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As the buyer, you  and your agent review the inspection results and prepare the 35R (the response form) to be delivered to the Seller by their agent.  Careful, if the deadline passes without delivering your response, it is the same as waiving your right to respond.  Seller has a limited time (delineated in the Inspection Addendum which is part of the mutually accepted contract) to respond.  Seller has a choice of responses.  Buyer then has limited time to accept, reject, or propose something different to Seller’s response.

Here is an example of a recent inspection our clients have been through, and the results of the Response to Inspection.

The House:  A stylish home in Bear Creek Country Club in Woodinville, currently lived in by owner, with 4 bedrooms, 3.5 bathrooms, and 3,200 square feet on three levels.  Inspection was conducted while Buyer was out of town, so we as his agents were present.  Inspector found that the house was generally well maintained and in good condition, with certain exceptions which he put into the Inspection Summary report.  The list included that the folding closet doors in the family room were hard to open, the windows and doors in the lower level were missing knows or twisters, the crawl space had rodent traps in it which indicated to him that they had a rodent problem, the trap door with stairs in the garage (which led up to a large storage area under the roof) didn’t have sheet rock on it.  Since the “attic” area extended all across the house, a fire in the garage would easily penetrate the rest of the home through the trap door, so it was not up to fire code.  (It seemed the access ladder and trap door was added after the home was constructed).  The outside deck showed a very worn spot under the edge of the overhang roof, even though all the rest of the deck was in good condition.  This was due to a broken gutter and downspout which allowed the rainwater to hit the deck and wear it down.  There was also a broken place on the curb in the front of the house.  Last but quite important, the toilet in the upstairs bathroom was a bit loose (the inspector explained this is a seal issue and a tightening-the-bolts issue) and some moisture had actually seeped into the bathroom floor.  The Buyer and my team (Dave and myself) talked it over and we decided to ask for everything on this list, although we knew they might not agree to fix everything.  We thought by asking for it all, we had a better chance of getting those repairs that were really important to the Buyer.  However, the Sellers surprised us by agreeing to everything except the curb repair, which was least important anyway. 

The rat traps turned out to be preventative measures as they (and many others in the neighborhood) had a contract with a pest company to make sure a rodent problem didn’t start.  The bathroom floor was puzzling as how are we supposed to tell if the moisture did damage?  But they had their repair person put in writing that he’d inspected it and his findings, and that was satisfactory to the Buyer.  Dave likes to have any repair person put in writing that they certify the repair, which makes them take it seriously.  He used to do that as a commercial lender and was responsible to the Bank for making sure there were no surprises.  That’s the easiest way and you don’t have to have it reinspected to guarantee the results.  The water falling onto the deck was solved when they had a complete new gutter put onto that spot rather than trying to repair the existing gutter.  They put sheet rock over the trap door in the garage ceiling, and had all the doors and windows put into proper working condition.

Once the 35R is agreed upon the escrow process proceeds to Pending, and the Seller has until closing to make the agreed upon repairs.  It’s a good idea to put in a timeline if anything needs to be done or inspected sooner than closing.  Also to make sure you will have time and access to do a walkthrough or a reinspect if you so desire, which is what we recommend.  It would seem obvious that you would be granted that, but doesn’t always seem so obvious to the Seller, although usually they are cooperative.

I visited a friend’s house which is on the market to sell in Everett…. Located at 612 Colby Avenue…Wow, what a cutie!!!!

Perfect home for that first time buyer or down sizer. All on one level for convenience and located in one of the most desirable area of North Everett. It is so close to West Marine View Drive for a stroll or Everett Community College… Oh, it is also so close to American Legion Memorial Park, great place to check out Evergreen Arboretum Gardens

The home has been completely remodeled in 2004 with all major systems replaced. New hardie siding, vinyle double-paned windows, electrical, furnace, HVAC, plumbuing and water heater… and more

Living room centered around the slate-fronted gas fireplace and gleaming refinished hardwood floors… Yes, you will have to take your shoes off…

You may stop and gaze out to the mountain range and the Legion Memorial Golf Course

Enjoy the master suite with plush carpet, attached 3/4 bath and walk-in closet.  On the opposite side of the home, are 2 additional generous bedrooms, which share a full private bath.

Kitchen with newer appliances, granite counters, oak cabinets and laundry nook.

Open floor plan flows from kitchen, to dining area, living room and rear covered patio.

Attached single garage with workspace, and alley access to large rear yard complete the package.

Priced to sell at $315,000″

It is so worth checking out if anyone is interested to live at North end of Everett…

Feel free to call me for a private tour!

VIRTUAL TOUR

Sebnem Oden

206 619 3652

• Built 2001, approx. 1861 square feet
• Open, airy and spacious floor plan
• 3 Bedrooms plus Office/Den & 2.5 Bathrooms
• Part of the garage converted to office/den with exterior access door
• Main floor with Living room, Dining room and Kitchen designed for relaxation & entertainment
• Living room has gas fireplace for chilly Northwest days
• Spacious kitchen offers plenty of room for several cooks in the kitchen
• Large size pantry with double doors
• High ceiling in hallway brings abundance of light
• Hardwood floors through out
• French doors lead to generous size Master Bedroom Suite with 5 piece Master Bathroom & Walk-in closet
• Delightful territorial views from Master Suite
• Walk-in closets in all bedrooms
• Laundry Room with utility sink for full size washer & dryer
• Fully fenced small back yard, adjacent to lush green trees
• Well manicured landscaping by HOA
• Corner lot, adjacent to lush trees in the back
• Short walk to North Creek Park
• Bring all offers, short sale.

Well, there are many predictions out there about the real estate market, just like the weather predictions, 2012 predictions, is it a boy or a girl predictions? Who do you believe, who do you listen to?

I do not have a crystal ball and no one I know has one either…. I do like to look at statistics and share with you so that you make up your own predictions about when to buy, if to buy, when to sell and if to sell…. Should I wait to buy? Should I wait to sell?

Here I am, just sharing the information which is available to me as a Realtor from the Local MLS. You make up your own mind where you think the Real Estate Market is going… Some  look at the past to make choices about the present moment and/or  to predict the future… Does the past repeat itself? It is up to you…

Yes, the inventory declined by 4% July 2010 vs June 2010. We had 50,782 active listings in January 2010 so the inventory is higher compare to January by 21%. For the year, we are up 21% in active inventory.

Pending Listings which are waiting to close are up 1% comparing June 2010 vs July 2010.  Year to date, pending listings +2%.

Sold Listings which are closed transactions are down 26% comparing June 2010 vs July 2010.  Since we had record high month in June 2010 due to First Time Home Buyer’s Tax Credit.  Year to date, sold listings are up 30%.

Current Economic forecast is labeled as “modest” by The Federal Reserve’s board of governors last week.  It is a slow slog, we are recovering… The news can be discouraging if one gets guided by it…

I say consult a Realtor about  your specific situation and know your options…

Sebnem Oden, Realtor

206 619 3652

sebnem.oden@exprealty.com

www.ProKeyRE.com

Not only this, but the Education Opportunities within eXp Realty are available 24/7:  we have classes, meetings, brainstorm sessions every single week and what’s better, they’re archived in the office.  So if I’m out showing a client or networking over coffee and miss anything, I can jump into the office on my own time and watch the recorded sessions to glean the information I need.  This is no propaganda!  The support that eXp Realty is committed to providing brokers like myself is above and beyond any support system I’ve ever seen or experienced.  I’m grateful every day.

But what does that jargon “3.0 Brokerage” mean?  Aren’t we in a people business?  Don’t our clients need our assistance in person?  Well, yes!  Of course they do!  And I spend most of my time, talking with or visiting with my clients.  It’s a very simple concept.  For what I need to succeed in real estate – in today’s evolved real estate landscape – is time and connection.  eXp Realty is my tool.  My “smart phone/iPhone” keeps me connected to all that I need for business and social networking instantaneously!  My brokerage eXp Realty is my “smart brokerage” – a virtual office in my laptop just clicks away – with an entire team of real brokers and business persons nationwide – there to assist me in seconds.  And why.  So I can spend more time with clients.  More time on my business.  More time previewing properties.  More time to create success.

80/20 with a $16,000 CAP then 100%.  The most competitive and supportive brokerage in the nation.

For more information on eXp Realty, I’m literally just a call, text, e-mail or message away!  And my door is always open~

Marybeth Cicirello * 206.214.6556 * marybeth.cicirello@exprealty.com * Downtown Seattle Real Estate

Woodinville is a great destination for anyone who loves fun-filled, romantic or relaxing getaways. It is a high spirited business community where Woodinville Business Owners collaborate to make their community as fertile as the soil in Woodinville.

Today, Woodinville is a destination for many visitors. Woodinville residents are a strong community of people who love and preserve their home town proudly.

Here are some exciting reasons to visit Woodinville, one of the best places to live in the Pacific Northwest.

1. Woodinville Wine Country is home of 50+ wineries including Chateau Ste. Michelle and Columbia Winery, conveniently located just a short trip from Downtown Seattle. Several wineries offer daily tours and wine tasting. Wineries are friendly and welcoming to all visitors. Some of them are also available for private, by appointment only tours and they can be reserved for special occasions.
2. Château Ste Michelle’s Summer Concerts You may shake hands with stars like Crosby, Stills & Nash, BB King, Ringo Starr and his All Starr Band, James Taylor, Chris Isaak, Lyle Lovett, Smokey Robinson, Gipsy Kings, Chicago who sung at Chateau Ste. Michelle’s Summer  previous Concerts.
3. Redhook Brewery Woodinville is home of Redhook Brewery. Founded in 1981 in Seattle in an old transmission shop, in 1982, the first Redhook Ale was poured. The original Ale was inspired after spicy Belgian Ales. Most beer drinkers get confused and surprised by the flavor of Redhook Ales… Great place to stop for a tour and taste…
4. Sammamish River Trail connects to Burke-Gilman Trail; 10.9 mile long recreational trial, Bothell to Marymoor Park, one may bike, walk dogs, roller blade, or run from Seattle to Woodinville.
5. Willows Lodge is a welcoming, calming and comfortable grounds, just gives taste of richness to one’s life experience for as a  day visit, business meetings, spa visit, wine and dining, weddings and many more…
6. Herbfarm Restaurant, unique menus showcasing the exceptional foods and wines of the Pacific Northwest. It a must visit… Always booked out days, so call ahead of time.
7. Molbak’s Garden Center offers incredible range of flowers, plants, decorating ideas, events…. Such an inspirational place to have fabulous ideas for home and garden
8. Woodinville Heritage Center is dedicated to preserve.    The Society’s mission is to acquire, preserve and perpetuate the artifacts and history of the greater Woodinville area. The Woodinville Heritage Society holds general meetings at Brittany Park Retirement Center on the 3rd Saturday of January, March, May, July, September and November at 10:00am.
9. Woodinville’s Jerry Wilmot Park lies along the 10-mile Sammamish River Trail that connects Blyth Park in Bothell to Marymoor Park in Redmond. Just over a mile south of downtown Woodinville, the Sammamish trail connects with the half-mile Woodinville Valley Trail that will take you across the Sammamish River to the wineries and brewery.
10. Woodinville Farmer’s Market
11. is located at the Carol Edwards Center, NE 175^th Street and 133^rd Avenue NE,
12. The market is open 9am to 3pm every Saturday from May 1st to October 9th, 2010. Great      place to hang out to speak to local neighbors, farmers and new friends… Market’s motto is “Eat local, eat fresh, eat well!!”

If you have any other favorites in Woodinville, please email me and let others know… Check out properties for sale at www.ProKeyRE.com

Sebnem Oden, Realtor

206 619 3652

Select, Explore and Organize

The MLS (Multiple Listing Service) is the primary source of active homes on market and is an expansive database used by Brokers across the states.  In Washington, we use the NWMLS (Northwest MLS) to find homes and properties for sale.  When I send listings to clients, friends, re-locating families and professionals, I send these directly from the NWMLS – and I love to share!   At the bottom of my e-mail is a link that takes you to a personal “Matrix Portal” with your specific Market Snapshot and pertinent properties.  You don’t need to know a thing about computers except how to click a mouse, truly.  And if you ever have questions, call me!  This portal is interactive and user friendly, but as with most platforms that are unfamiliar at first, it takes just a few moments – or a few visits – to become comfortable.  Think of your portal as your shopping cart ~ you can visit, re-visit and organize as you like, and the listings will be in your portal (or basket) at your convenience!

If you’d like a list of homes, investment opportunities, or properties with specific criteria, please let me know via your preferred method of contact:  phone, text, e-mail or facebook!

For additional details on organizing your portal and interpreting NWMLS listings, enjoy these short and sweet articles!

What is the Matrix Portal?

When I Look at Listings, What does “PI” mean?

How Do I Organize my Portal when you send me Listings?

Marybeth Cicirello * 206.214.6556 * marybeth.cicirello@exprealty.com * Downtown Seattle Real Estate

All borrowers regardless of credit scores should be able to get into at least 4.25% with standard 1% origination fees right now and High Balance loans up to $567k should aim for 4.5%.   These rates/prices are still available as we start this week and unless we see some huge positive economic news come out (such as really positive numbers on Friday’s Nonfarm Payrolls & Unemployment Report) they should remain for the first week of August.   If you’re a home-owner and haven’t refinanced in the last year or two you should at least be looking at the monthly savings vs. loan costs of doing a refinance with rates like these.   If you can make up the costs in a year or two and plan on being in the home longer than that then a refinance makes sense. 

For buyers contemplating a purchase but not quite sure whether to jump, here are some very important numbers for you take into consideration.  The chart below shows the decline in your purchasing power if you compare current interest rates vs. those you may encounter 6 months or a year down the road when they go up to historical 30 Year Fixed Averages.

If interest rates rose to 5.5% youd lose approximately $48,000 in purchasing power for the same monthly payment!

While we don’t know how long it will be until interest rates start rising again, it’s not a question of “if” but more of “when”.  You combine these interest rates with the currently low prices available for most homes in King/Pierce/Snohomish counties and it makes for a fantastic time to be a buyer.  While loan programs aren’t as flexible as they were several years ago and most borrowers will need to bring a down payment to purchase, this is almost a once-in-a-lifetime combination of mortgage rates/home prices. 

Michael Pollock is an Accredited Buyers Representative with EXP Realty and  Licensed Loan Originator with Northwest Home Center

Once you have offered on a property, and the seller has accepted the offer (perhaps modified through negotiation)  Pending Inspection is the  final step before proceeding to “Pending” status.  As part of the contract we use an “Inspection Contingency” to give the buyer 10 days (or as agreed) after mutual acceptance to have the home inspected.  This is also the time for any additional inspections that are called for or that you would like to have, usually once the main inspection has been done.  Example of additional inspections would be a sewer scope, a structural inspection (which might be called for if the home is perched on a steep slope or has foundation questions), or having a roofer come and cast his professional eye over the condition of the roof.  One of my clients recently pointed out that they had insulation specialists come and quote what it would be to bring the attic insulation of their newly purchased 100 year old Craftsman up to code, and the insulation company  proposed a solution that would totally render the attic useless for the storage space the Buyers had planned.  Since the insulation contractors are focused exclusively on insulation, that’s the extent of their vision.  It’s important not to forget that you are the one who gets all the data and feedback and then makes the decisions on how it’s going to work out best for your family criteria.

If the Inspection does not meet the buyer’s “subjective approval” then he/she can disapprove the purchase and the earnest money is refunded.  But that is the “worst” that can happen; instead of disapproving the purchase, the buyer can request repairs or modifcations.  The seller can agree or not.  After this period of further inspection and negotiation comes a final agreement (if the purchase is not disapproved) and the sale proceeds to Pending.  Once Pending, the lender pursues the final loan process.  Also during the Pending period, the seller takes care of any agreed upon repairs etc.  (and the Buyer is well advised to make sure to do a final walk-through just before closing to make sure the repairs took place as agreed and in good form, we’ll address this in Step 16).