The number of short sale listings and bank-owned (previously foreclosed listings) have become so prevalent that the NW MLS has created a search function to identify and let agents specifically search for these types of properties.
While a few years ago nobody knew what a short sale was (most people thought it referred to a transaction that closed quickly), at this point almost 10% of all active listings in Thurston County are now short sales.
For those of you who still aren't familiar with the term, it means the sale of a home is expected to net less than the amount owed to the bank.
Bank owned real estate, the homes that could not be sold "short" and the banks have foreclosed on, make up just over 5% of all active Thurston County listings.
Homes in either of these categories are deemed distressed properties and make up almost 15% of all active Thurston County listings.
Distressed properties (s and f sales) are the foul words in the real estate industry. These sales are part of the market and as such lower the market values of the surrounding homes in a community. Buyers who hope to pick up a bargain should be forewarned. Less than 1 out of 4 short sales actually closes. All short sales are subject to the approval of the underlying lien holders, so the process is lengthy (short sale is such a misnomer) and often non-transparent.
Foreclosed properties are a better way to go, as these listings are already cleared by the bank, however, they are often in a less than desirable state. By that I mean holes in the walls, no power, personal belongings of the previous owner strewn about, dirty... you get the picture. As a buyer you'll need perseverance to find your diamond in the rough.
I suspect short sales and foreclosures will remain a big part of the housing inventory for some time to come. For sellers, a short sale offers the opportunity to get out of a mortgage without having a foreclosure on the record. For buyers with the luxury of time and patience, short sales, as well as foreclosures may allow them to pick up a bargain.
If these type of listings are what you're interested in, let me know and I can start a specific MLS search for these types of homes.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
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All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.
Vacant homes can be so boring to visit and walk through. Home Staging gives the home more character and signals more value. Staging has been proven help listings sell faster and for more money. If done right, staging can make the home feel larger, brighter and more up to date.
Here are the before and after photos of my latest listing, a 1995 3 bedroom, 2 bath rambler in Lacey with 1,560 sq. ft., priced at $234,000.
As an Accredited Staging Professional and Realtor, I offer home staging as a complimentary service to home sellers who list their homes with me.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
_______________________________________________________________________________________________________________
All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.
On February 1, 2010, the Fort Lewis Army installation and McChord Air Force Base will unite to become Joint Base Lewis-McChord.
This change is the result of the Base Realignment and Closure (BRAC) law of 2005, which the Department of Defense utilizes to improve operational readiness, as well as cut costs and create a more effective management infrastructure.
BRAC will realign 26 bases with nearby installation and create 12 Joint Bases. The realignment of Fort Lewis and McChord Air Force Base will consolidate several functional areas, such as installation security services, community services, housing, fire protection and others, eliminating redundancies in services and increasing functionality and effectiveness.
What will change? There will be a lot of re-naming. North Fort Lewis will be called JBLM North, Main Post Fort Lewis will be called JBLM Main, and McChord AFB will be called JBLM McChord Field. With a total Joint Base affiliate population of over 100,000, Joint Base Lewis-McChord will be the premier world-wide power projection base on the west coast.
Even with the consolidation of all housing units, the installation can't provide nearly enough housing for its more than 20,000 military families. The surrounding communities of Lacey, Dupont, Lakewood and Olympia provide a wide selection of affordable homes, apartments and quality of life amenities.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
____________________________________________________________________________________________________
All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.
Did you know that installing energy-efficient windows or doors in your primary residence will qualify you for a tax credit? This credit equals 30 percent of the cost, but is capped at $1,500. If you're installing any renewable energy improvements such as solar panels or geothermal heat pumps, there's also a credit of 30 percent of the cost, but this credit isn't capped, and the home doesn't have to be your principal residence.
Congress passed this stimulus package in 2009 to help promote energy efficiency. http://www.energy.gov/taxbreaks.htm
By taking advantage of this incentive, you don't just get help with the costs of the improvement, but you'll ultimately save money on your utility bills. Another bonus is the increase in re-sale value for your home. Home buyers are looking more and more for energy saving features.
In addition, many local utility companies offer rebates for energy efficiency improvements, so the incentives don't just end with the federal tax credits. And speaking of tax credits, home buyers can still get up to $8,000 for buying a home by June 30th of this year. See my article about the home buyer tax credits here.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
_____________________________________________________________________________________________________
All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.
For solid sustainable economic growth, we need the housing market to improve. When the housing sector strengthens, it brings jobs. Without jobs there will be no recovery. The tax credit has been put into place to create an incentive for people to get off the fence and purchase a home.
Currently there are two kinds of tax credits in place. One credits up to $8,000 for first-time buyers of a principal residence who have not owned another principal residence during the previous three-year period ending on the date they purchase the new home.
The other is a credit or up to $6,500 for buyers who owned a principal residence for five consecutive years during the past eight-years preceding the purchase date. In order to receive the credit, the new home must be under contract no later than 30 April 2010 and the sale must close by 30 June 2010. There is an extension for military personnel returning from overseas tours.
It's important to understand that a tax credit is not the same as a tax deduction. A credit lowers a person's taxes dollar for dollar, while a deduction merely reduces the amount of income a person is taxed on. A tax credit of $8,000 reduces taxes by that amount, no matter what the income or what tax bracket that person is in. Even someone who did not have to pay any taxes will get the tax credit. It will come in the form of a check from the IRS.
While the tax credit is a powerful incentive that many people have already taken advantage of. It should not be a reason to jump into a home purchase. Like I stated at the beginning. It is an incentive for people to get off the fence. It's for buyers who are considering a home purchase anyway, but are waiting around in hope for the market to drop even lower.
If you are considering a home purchase in the near future, you might want to keep the deadlines for the tax credit in mind. In order to be under contract by April 30th, the time to get the home shopping process started is now.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
_____________________________________________________________________________________________________
All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.
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As a your full service Realtor and Accredited Staging Professional in the Olympia, Lacey, Yelm, Dupont and Fort Lewis area, I specialize in single family residential property and military relocation.
Who wouldn't want to own their own little piece of this beautiful place?
See pictures of the beautiful Olympia area and local neighborhoods here
You'll want to talk to me when it comes time for buying or selling a home in the greater Olympia area. I'm truly passionate about real estate, and I know what you want: You want a professional who is competent in her field, dedicated to your needs and passionate about her work. You don't just want marketing; you want superior marketing that gives your property an edge over the other properties listed on the market. You want your interests protected with warranties and guarantees. Everybody offers service; you want exceptional service, where every detail is attended to. You want a clear understanding of what you can expect. If you needed an operation, want the best surgeon. If you were sued, you would seek the sharpest attorney; so when it comes to real estate, a major investment, you'll want to turn to me and my team. Quality doesn't just happen by chance. It's accomplished by high expectations, intelligent planning, tireless effort and skillful execution. My services are designed to make your needs the focus of my actions. If you are, or ever have been in the military, you'll appreciate that I have been affiliated with the US military for over 20 years. And as such, you'll understand how familiar this makes me with relocation issues. I appreciate the service of our military and their family members and want to put myself at their service for all their housing and relocation needs.
I practice my profession with the support of two full time Realtor team members, who make up the "Key Group". As a "Key client" you enjoy the benefit of having three professionals with a wide range of expertise and training at your service at all times. Our designations include ABR (Accredited Buyers Representative), GRI (Graduate Realtor Institute), ASP (Accredited Staging Professional) and SRES (Seniors Real Estate Specialist).
What else do you get with me? You get a person who believes in giving back to the community. I try to accomplish that by serving on my neighborhood association board, supporting Habitat for Humanity and by being actively involved with the American Cancer Society's annual Relay for Life event. 
My Mission:
Memberships, Designations and Affiliations:
"Sandra is a woman of integrity and is unfailingly professional."
-Yvonne Pawelek, Ft. Lewis
" We enjoyed working with Sandy so much! Sandy's professionalism, attention to details, and understanding of real estate market are all outstanding"
-Jennie and Hirsch Diamant, Olympia
"...Her style effectively blends friendliness with professional objectivity and she approaches her work with enthusiasm and commitment."
- Ulla Torres, Lakewood
"You were so great working with our kids and both of them have said that over and over. How lucky to have you as a friend and to have you be a real estate expert."
-Diane Laslie, Olympia
"Sandy, thank you so much for all your hard work and help. You made buying our new home one of the easiest and best experiences we could have anticipated."
-Lilian and James Getchman, McCleary
"Sandy was instrumental in helping us buy our home. She listened to what we wanted and as a result we were able to narrow our search significantly and find exactly what we were looking for within a week.
Sandy's presence throughout the buying process was very reassuring and her advice was always genuine and spot on. We never got the impression that she was 'out to sell' but more so that she was there to ensure that we made decisions that were in our best interest.
Sandy made the purchase of our first home relatively effortless and quite fun. We have had no qualms in recommending her to our friends and will definately rely on her real estate expertise in the future."
-Jay and Prim Jeyasingam, Lacey
"I flew into town and only had a short week to look for houses. Sandy had the patience to show me pretty much ALL the houses between Dupont, Lacey and Olympia! 50 houses! Need I say more? Never grumpy, never grouchy that, even after a week, I hadn't found a house yet that I liked. On my last day I finally found a home that was suitable for our family. I signed the offer, left town and Sandy did everything else! We did not have to worry at all, and that alone took a huge load off my shoulders. I will recommend her to my friends anytime."
- Susanna Haynie, Olympia
"We have purchased several homes in the past, and experienced a variety of real estate agents, ranging from the poor to the exceptional. Sandy definitely fits into the latter of these two categories. Sandy is a consummate professional - she tirelessly searched for a property for us, and didn't waste our time looking at listings she knew would not interest us. When she did find us that perfect property, she continued to work closely with us, and even attended our closing to ensure we understood the process. When we decide to sell and/or purchase a property in the future, Sandy will by the first call we make."
-Brian and Yvette Jones, Olympia
...Our loan representative referred us to Sandy Nelson. From the first time we talked, she was genuinely excited to help us, especially since we were a military family using a VA loan, which she had lots of previous experience navigating.
From the first time we met, we found Sandy to be very in-tuned with what we were looking for and very anxious to help us...
Though we didn't work for weeks or months finding our first home, we would have never found it if it wasn't for Sandy. She is so pleasant to work with and has truly become a friend for life. What we love about Sandy is that she's there for you after you find your home, she doesn't just close the sale and forget all about you. She was there on moving day, providing our friends and family with food and drinks, and she's always so thoughtful. We recently celebrated our first year anniversary in our new home and there was Sandy, giving us flowers to celebrate the ocassion right along with us.
I strongly encourge all of my friends and co-workers to contact Sandy if they're looking for a great real estate professional they can trust. She definitley made our first home buying experience a very pleasant one. We'll always be thankful to her and consider her a friend!
- Gina and Jerry Hobbs, Lacey
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