I get this question more often than not, “what is a short sale”?  In a nutshell, it’s when a seller is trying to sell their home and they owe more than what the home is worth in the real estate market.  Not to be confused with a foreclosure, short sales are not necessarily an approved sale by the bank.  Many banks will not look at a short sale until the seller has an offer in hand. 

I’ve noticed a slight change in how short sales are being handled by the banks lately.  Larger banks are starting to form “short sale departments” and are being proactive about the process.   I am hoping this speeds up the process of getting a home to close in a timely manner.

Is a short sale for you?  Are short sales a better deal?  Each situation is unique, so it’s best to call your local realtor for expert advice.  I’d be happy to answer any questions you may have about purchasing a short sale!

Oh, by the way I just listed a gorgeous home that happens to be a short sale on Camano Island!   Check it out at:

http://www.windermere.com/index.cfm?fuseaction=Listing.PartnerLanding&listingid=67328469

The process has already been started by the bank!

For local expert information call Jamie Johnson 425.268.7291

Most of our agents know that I consider myself the Queen of Camano Island Market Stats.  One of the downfalls of this self appointed title is that I truly believe everyone enjoys talking about stats, looking at stats and staring at charts and graphs as much as I do.  If you like numbers, read on…

The chart on the right shows the activity in each price range.  As expected the majority of the activity is in the $250,000 and under range, but how refreshing to see small bursts of activity in the 300s and 400s.

Pending sales have been on the rise all year long.  In my opinion, there are two reasons for this:

1.       Sales are taking longer to close for a variety of reasons, stricter lending guidelines, bank involvement in short sales just to name a few.  Some of these 41 pending sales have been waiting to close for several months.

2.       Consumer confidence is slowly returning.  Buyers have been waiting for the right time – interest rates are still low, tax credits are still available, homes are priced right and it is a Buyer’s market. 

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13.78 acres facing Southwest with views of Saratoga Passage and the Olympic Mountains.  Rolling topography with trails cut in for easy viewing.  Large view acreage listings are rare!    MLS#4955 $379,000 

For solid advice on all aspects of buying and selling real estate, call Steve Love and Julie Pettyjohn at 425-239-0123 or send us an e-mail at juliepettyjohn@windermere.com

According to Trendgraphix (www.trendgraphix.com), pending sales were up 333% in January 2010 over January of 2009.  In just a month, from December 09 to January 2010, pendings were up 100%.  The average sales price for January 2010 was $274,000.  What does this mean?  It’s a good time to buy because prices are down, interest rates are low, and the tax credit is good until April 30th!  It’s a great time to sell because there are buyers buying! 

For more market information please contact: Jamie Johnson 425.268.7291 or email jamie@windermere.com

www.JamieJohnsonHomes.com

Quality craftsmanship in this gorgeous 3 bdrm view home. Perfectly maintained, this home features hardwood floors, granite, tile, woodwrapped windows, large open kitchen, stainless steel appl., bonus rm, 5 pc. master bth., butler pantry, etc. Perfect landscaping makes the curb appeal eye catching. Spectacular views of Port Susan, Cascades, Mt. Baker, city lights, and alpenglow sunsets from home and decks. Fully fenced, tuff shed w/deck, raised beds for veggies. RV parking and covered porch. This home is a gem!

For more information and photos about this home, please visit:  www.JamieJohnsonHomes.com  or contact Jamie Johnson (425.268.7291).

 Selling a property in this tough market can seem like a challenge.   Here are four factors that actually make this a good time to post a For-Sale sign.

1. Sell low and buy low.   Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain.   If he buys smartly, when prices come back up in a few years, he’ll be in better shape.

2. Down-payment help is widely available.   While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.

3. Your uncle has money to share.   Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.

4. Good help is available.   Really talented real estate practitioners, contractors, and designers are available and eager for business.

For solid advice on all aspects of real estate call Steve Love and Julie Pettyjohn at 425-530-0799 or send us an e-mail at stevelove@windermere.com.

Source: McClatchy Tribune, Kate Forgach (02/07/2010)

From REALTOR magazine’s Daily Real Estate News | February 8, 2010 |

After becoming a member of the committee for our new park set to be built on Camano Island in May, I am super-charged to be a part of this event!  The park, designed by kids from local elementary schools, is going to be built by over 700 volunteers in FIVE days!  That’s right, FIVE days!  If you’ve ever been to a park designed by Leathers and Associates (www.leathersassociates.com), you understand how exciting and important this event is.  If you have never visited one, I encourage you to visit www.iheartparks.org to see pictures of other parks.  Also, while you are there, you can sign up to volunteer during those five days.  We need help for everything from childcare to physical labor.  There is a spot for you!!!  You can also become a fan of I Heart Parks on Facebook at: http://www.facebook.com/?ref=home#!/group.php?gid=162170511605.  I encourage you to post this to your wall to get the word out to your friends!  If you have any questions about the park, feel free to visit the “contact us” on www.iheartparks.org.  Let’s do it!

There are many considerations that come into play as you select your new home.  Homebuyers often experience conflict between the urge to buy for emotional reasons and the necessity to ensure that you are making the best possible investment.  When buying real estate, it is very important to strike a balance between your heart and your checkbook!

An excellent strategy while house hunting is to make a list of both the emotional and financial issues that will be part of your decision.  On the side of feeling, write down the qualities that you associate with a real home.  What makes you feel ultimately comfortable and secure?  It might be rustic seclusion, a view of the sound, a stone fireplace or an oversized jetted bathtub. On the side of logic, write down your price range, down payment capability, mortgage loan options and related practical issues. 

Each time you look at a house, examine the property from both perspectives. With your REALTOR’s© help you can successfully purchase a beautiful home that also represents an excellent long-term investment. 

For solid advice on all aspects of buying or selling Real Estate, please call Steve Love or Julie Pettyjohn at Windermere Real Estate/CIR 425-530-0799 or send us an e-mail at stevelove@windermere.com

Just listed!  This 1,356 square foot home is on just shy five acres, two bedroom, one and three-quarter bath with a two car attached garage and shop for $279,000!    MLS#14104

I get so excited when it comes to my family’s history in the Stanwood Camano area.  I love to read about how our community was formed, and how it continues to change.  My family came here in 1889 as farmers.  I have original pictures, in original frames of Nels and Kristi Lien, who emigrated from Namsos Norway.  What a treasure.  When browsing the history links today, I came across this short but sweet history of Stanwood.  My family is mentioned as the Lien Bros. Packing Co.  As I continue to be a part of the development of our community by selling real estate and being involved with the community, I know my family would be proud!  http://www.historylink.org/index.cfm?DisplayPage=output.cfm&file_id=8557