Like almost everyone I know that works in the housing industry, I've been chasing myself around for the last few weeks trying to get all of the First Time Homebuyers in my client list qualified and under contract so that they were eligible for the $8,000 tax credit ... due to expire on November 30th.
It's been a wild ride, full of both elation and disappointment! And, of course, absolutely full of the question "Will it be extended?"
I've been diligently trying to follow along with activities in the legislature while listening to other opinions about why it will and why it won't and who thinks it's a great idea and who thinks it'll continue to bankrupt us all.
Reuters is one of my favorite places to find quality news feeds--in this case current activity on extending the $8,000 tax credit for homebuyers. Yesterday, Reuters reported that Bill Nelson (Dem.) of the Senate Finance Committee indicated that the Senate would act this week on the tax credit and that it would likely be extended for a "limited" period. Then the stock market reacted negatively later in the day to a report that it would not be.
This morning, Reuters posted another story complete with Q&A about another proposal being floated through the Senate by Senate Majority Leader Harry Reid, a Nevada Democrat, and Senate Finance Committee Chairman Max Baucus, a Montana Democrat.
In their scenario, the credit would be extended to the end of 2010, but would be phased out in $2,000 decreases beginning in April, then again in July and in October.
Now, at the moment, I kinda like this proposal. And I like the idea that it carries into the Spring, where house purchases and sales tend to begin rallying all by themselves. 
My only issue with their proposal is that it's being attached to the passage of another bill for unemployment insurance benefits. Sigh. Seems like it'd be so much easier to keep track of things if each expenditure had to stand on its own.
I'm sure tomorrow there'll be yet more ups and downs about whether the $8,000 tax credit will be extended, or buried. Passage will be cause for celebration, in my opinion. Of course, then the bill will need to go on to the House, where, no doubt, it'll be changed yet again. Back and forth.
Just my Tuesday morning 2¢ worth!
I received a message late last week from one of my helpful resource folks, Garrett Huffman of the Master Builder's Association, regarding real estate closings and King County furlough days.
Earlier this year I posted a blog entry listing the days various King County offices would be closed in an effort to help minimize budget overruns. One of the most troublesome dates on the list is scheduled furlough for November 25th ... just 5 days prior to the end of the First Time Homebuyer's Tax Credit, as it is currently defined. Add in the typical Thanksgiving holidays of November 26-27, the last week of November has generally been deemed a write-off as far as getting transactions closed.
According to Garrett, the folks at King County have taken into account the general "panic" that may WILL occur by folks trying to get transactions recorded so as to qualify Buyers for their tax credit.
I have a couple of transactions that are looking like last minute closings too. YIKES!
The Master Builder Association has been working hard to be sure that last minute transactions are recorded on time. Here's what they're reporting:
"King County has been very responsive to our association's concern regarding a furlough day planned at the county in late November. To make sure that the home sales to first time homebuyers close by Nov. 30 and are therefore able to qualify for the federal first-time homebuyer tax credit, the Recorder's office is taking the following action:
In addition, we have requested that King County be prepared for Recording office staff to work overtime on Monday, Nov. 30, to help ensure that all sales are recorded and no first time homebuyer will miss the tax credit deadline."
The Auburn area Chamber of Commerce is holding its annual trade fair at the Supermall of the Great Northwest this coming Saturday from 10am to 4pm.
Enter using the Aviation Court, then turn right -- We'll be located near the Black Minerals and Glow Golf stores.
I'll be there greeting everyone that walks in ... with a display of houses for sale and information, should you want to talk real estate! (of course!!!)
Every exhibitor will also have a raffle item, but you'll need to visit individual booths to sign up!
Hope to see you Saturday at the Auburn Chamber of Commerce Trade Fair! It'll be fun; come by!
There are some vistas that take my breath away. Such was the gorgeous morning at Ocean Shores watching the tide coming in with the pelicans flying in formation. I loved this view with the remains of the old dock ... even the footprints in the sand added interest and texture.
The majesty of our planet is simply amazing ...
The news media provides an overall look at what the real estate market is doing coast to coast. If you regularly read the local Sunday papers, you may even get a feel for what's selling in various counties or even in your local community.
Graphs bring that information down in a visual, manageable method, making it a bit easier to figure out what's really going on.
The graphs here are for the Auburn, Algona & Pacific areas of King County, known by the Northwest Multiple Listing Service as Area 310. At the time we look at your home's individual value, however, this information will be localized even further, helping everyone involved understand what the appropriate market price for your home really is. It's tough to make educated decisions without the hard facts backing them up.
This first graph illustrates the average price for homes on the market (active) vs the average price for those homes where the sale was completed (closed) in the same month. Here one can see that there was a spike in sold prices in July, with a drop in August.
This next chart shows the average sales price for homes in Area 310 (not just Auburn --gotta fix that chart title) .. by month since the start of 2005. So .... if you purchased your home in August 2005, it's easy to see that your home's value may be slightly less than that $$ amount in August 2009.
Next: The number of new listings coming on the market each month since 2005. Good for helping decide when the right time to list might be. 
And look how the number of closed sales went month by month for the same period. (still gotta change these titles -- this is for Auburn, Pacific & Algona, not just Auburn Addresses!). Remember that sales typically receive a mutually accepted offer 30-45 days prior to closing. Look at August -- there's that July housing shopping in action!
I like this next chart! Look how far the inventory has fallen. Either houses are selling, or listings are being cancelled or expired. There are certainly fewer of them! It's really important to remember here, however, that this little chart only compares one month's of active listings to one month's of closed sales -- That's a bit limited in scope, but gives you an idea.
These are just a few of the statistics I use to help you work on your own home's value. Don't hesitate to give me a call or an e-mail if you want to examine your own situation!
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Auburn, Kent, Covington, Renton, and Maple Valley are my personal stomping grounds. I live here, work here, play here, and spend money here! Southeast King & north Pierce County specialist!
I'm a Seattle native, have always lived the south Puget Sound area, and have moved around quite a bit within the region. As the mom of three grown (well, almost -- one is still at home) children and several four-legged ones, I wanted to remain in this area and ground my children with the best of schools and the friendly warmth of the Pacfic Northwest. 
Over the years, my husband and I have been heavily involved in Little League baseball, both Boy Scouts and Girl Scouts, and just tons of school activities. And we're now the proud parents of two energetic golden retrievers, Hobbs & Bailey.
By the way, I believe heavily in giving back to the community in which I live, especially where children are concerned. A portion of every single transaction, whether a sale or a listing, is donated to the Children's Miracle Network. In this area, that means that this money goes directly to Children's Hospital.
Prior to real estate, I had a diverse, technical ... and art ... background. From managing law firms, to owning and operating the very first computer training company in the Pacific Northwest, to publishing "how-to" computer books and art materials, I've managed to accumulate quite a variety of skills that all lend themselves perfectly to both the big picture and detailed versions of working through a real estate transaction.
I absolutely love working with both buyers and sellers, and I've applied my technical skills to assisting clients -- whether individual homeowners, developers or builders -- prepare and market their homes too.
You deserve the very best representation when buying or selling a home. You're making huge money commitments -- and you deserve to work with an agent that takes your trust seriously. I promise to always do my very best to listen to you, communicate with you, effectively and skillfully guide you through your transaction, and negotiate on your behalf.
You absolutely deserve the best. I'm committed to standing up to your trust.
In addition to knowledge and experience, today's complex market requires agents that have tenacity, empathy, and true desire to be of help. Working with folks that are in financial stress is challenging! Helping homeowners through the complexities of short sales and preforeclosures ... or just helping them retain as much of their equity during a sale ... is intensely satisfying and I look forward to helping you and your referral clients through the process.
There's a tremendous amount of knowledge and experience needed on the Buyer side of real estate, too! After all, getting all the way through the closing table is also challenging right now. And there's just nothing like sharing the excitement of first time homebuyers!
"Working with Gabrielle on developing her new website, it was immediately impressed upon me how invaluable her clients find her. She has a talent for working out the trickiest of details in challenging transactions, ensuring her clients achieve a successful end when purchasing or selling their homes." August 4, 2009 Jennifer Juhasz, Owner , Virtual Staffing Team
"Gabrielle jumped in to help me purchase a home when I was relocating from out-of-state. I had been working with another realtor, who hadn't been able to hit the mark, but within one session with Gabrielle, we saw several homes that met our criteria. She was efficient and knowledgeable and was able to expedite our close and eliminate the need for intermediate housing. I would recommend her to anyone!" Beth Galliher, Edgewood
"Gabrielle, worked with my wife and me both in buying our new home and selling our existing house. She knows what she is talking about and was always there for us to answer our many questions. She made a stressful situation much easier. I tried several other agents prior to meeting Gabrielle and the experience was miserable. I can't think of anyone whom I would give a higher recommendation to."
--Dave Rackleff, Auburn
"We have worked with Gabrielle both on buy and sell sides of the business, and consider her a valued friend as well as a trusted service provider. She partners with her clients, and maintains that partnership far beyond the service one expects from a good realtor. I would recommend her to anyone needing any service or advice in the field; if your need is not in her toolbox, she'll find you an expert you can trust who can and will meet the need."
--Marilyn Carlson
Senior Manager, R&D, Oberto Sausage Co.
"Gabrielle is an excellent professional. Our business relationship lasted for quite a few months. She has excellent realtor skills combined with no less excellent customer relationship ones. She was very attentive and understanding to our needs and managed always to provide us with a plethora of real estate choices.
But our greatest appreciation ... occurred when we had to deal with a problematic seller. Gabrielle proved herselve to stand behind her client needs to the last point. She was very helpful, knowledgeable, and encouraging. We managed to finalize the purchase, in my opinion, mostly due to her professional assistance.
Even after the purchase was finalized. Gabrielle continued to help us out with necessary tips and information. This came very handy as we moved to Washington from Tennessee.
We are very satisfied with Gabrielle Nemes, both professionally and personally. I shall definitely recommend her services at the first opportunity and for years to come."
-- Igor Lesko, Covington
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