About Pierce County, WA

No Fluff Savvy Home Buyer - Level I, February 25th, 2012

02/25/2012
10:00 am - 12:00 pm

Forza Coffee - Tacoma

Please RSVP to Classes@TeamReba.com by 02/23/2012 with your name, phone number and email for confirmation.

If you’ve been wondering what the state of the real estate market is like in the Pierce and King County areas, now is your chance to get a No Fluff reality check. We’ll have Team Reba real estate brokers and a local mortgage lender (Jerry Rutherford of Legacy Group) on hand to help you learn how to navigate today’s new realities of buying real estate. On the agenda will be 3 major topics:

1) Credit repair, how credit is scored, what to look for in your credit report,

2) Lending products and options for buyers/refinances in today’s marketplace, including loans that allow for modifications to a property (FHA 203k loans) for those “less than perfect” purchases, and

3) A brief explanation of the real estate purchase process as well as an overview of today’s marketplace and the types of transactions most commonly seen. Including, short sales, bank owned and “traditional” real estate sales. (Our Level II Class goes into more depth on the purchase process and most common contract elements)

We hope you can join us and we look forward to seeing you there! If you can’t make it, or this class might be better suited for someone you know (friends, family, or colleagues), again, please feel free to forward the invite – all are welcome. Coffee/Tea/Snacks available for purchase at Forza Coffee. Class is held in the conference room at the back of the shop.

Café Forza located at 2209 N Pearl St, Tacoma 98407

Northwest Landing in DuPont, WA – January 2012 Market Update

January 2012 Real Estate Market Update

The good news about the real estate market in Northwest Landing in DuPont (in Pierce County) is the average home price has remained stronger than the rest of Pierce County. From the peak in 2008 to 2011, Northwest Landing home values saw an average decrease of 14% compared to Pierce County (during the same period), which saw average home prices drop 26%.

For the last year and half, the DuPont market has stabilized. This could be an indicator that this area has “hit bottom” as far as this is the lowest home prices will be and that a slight uptick in home prices are to come. This is a bold prediction however with several months of positive job growth, it boosts consumer confidence and potential buyers are becoming home owners.

Home Sales Growth from 2010 to 2011

There is a correlation between home prices and the number of sales. In looking at the top counties in Western Washington, Pierce County is #3 for the number of home sales. Pierce County saw a 17% increase in home sales from 2010 to 2011. But their home prices fell 32% from the peak of the market in August 2007.

What this means is sellers need to price their home right. There are buyers out there, but buyers will pass on a home if it is overpriced for the market.

About Northwest Landing in Dupont, WA

Northwest Landing in Dupont, WA is located just minutes from Joint-Base Lewis McChord (JBLM) on the west side of Interstate 5.

Northwest Landing is still expanding and growing, and when fully built out, there will be approximately 12,000 homes. The residential section of Northwest Landing consists of single family homes, condos, townhomes as well as rental apartments and 55+ housing.

While Northwest Landing is a large community, the design of the neighborhood was carefully planned to create continuity and promote green living. With an extensive system of sidewalks, bike lanes and walking trails, Northwest Landing encourages leaving the car at home when visiting the city center with amenities such as shopping, restaurants, and other services.

Some of the design elements you’ll notice in Northwest Landing are:

• Streets are narrow to slow traffic and make pedestrian crossing easier.
• Many homes have front porches with garages in alleys so cars won’t hit pedestrians while backing out.
• Multifamily housing is designed to look like the single family homes, and blends in with the neighborhood.

Learn about DuPont's explosive past!

2012 Real Estate Market Prediction for Northwest Landing?

Northwest Landing in DuPont is still expanding with new construction of single family homes, townhomes and condos. Right now, new construction is a popular choice for home buyers. This neighborhood will continue to have a strong draw for buyers, especially military buyers, due to its excellent location to JBLM as well as it is a mid-point for commuters who need to get to Olympia or Tacoma.

My prediction is home values will see a slight increase for 2012 in this area. I don’t anticipate any future downsizing in the military ranks to affect JBLM nor the housing market in Northwest Landing.

(All data compiled from the Northwest Multiple Listing Service. Data is deemed accurate but not guaranteed.)

Interested in living in Northwest Landing? Call me today to find your next home. In the meantime, check out the current homes for sale.

I found this article to be very interesting and thought I would throw it out tehre and see what some of your thoughts are:

Last Wednesday, February 1, President Obama announced the details of a plan to help homeowners refinance their mortgages in hopes of bolstering the housing market.

According to the U.S. Department of Housing and Urban Development, this proposal will allow buyers to save an average of $3,000 a year by refinancing into loans backed by the FHA, if they are current on their mortgage. The plan is estimated to cost between $5 billion and $10 billion, which Obama plans to cover by pressing a fee on large banks.

“I want to commend the administration for recognizing that more can be done to get our housing market on track. The programs announced today will give lenders and other stakeholders additional tools to help borrowers and foster a renewed confidence in our real estate finance system,” said David H. Stevens, President and CEO of the Mortgage Bankers Association, in a statement issues on February 1. Stevens went on to note that the MBA believes a single national set of standards can help provide confidence and certainty in the real estate market for borrowers, lenders and servicers alike.

Bob Nielsen, chairman of the National Association of Home Builders, issued a similar statement.“Clearly, more decisive actions are needed to increase refinancing opportunities, to reduce the inventory of foreclosed homes and to prevent additional homes from going into foreclosure,” stated Nielsen, who says that the NAHB looks forward to working with the Administration and Congress to find constructive solutions in these areas as soon as possible.

This refinancing plan is the most recent addition to Obama’s foreclosure prevention efforts, following the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP).

Reports have indicated that the plan faces long odds in Congress. House Speaker John Boehner (R., Ohio) questioned why this program would work when others have failed.

“One more time? One more time? How many times have we done this?” he asked reporters. “I don’t know why anyone would think that this next idea is going to work.” He added that the previous programs have led to a delay in “the clearing of the market,” or letting housing prices hit bottom by allowing foreclosures to happen more rapidly.

Posted By susanne On February 6, 2012 @ 5:01 pm In Business Outlook,Consumer News and Advice,

From Anna Matsunaga Keller Williams Realty Tacoma 253 353 2662 www.teammomentumrealestate.com

Many buyers took advantage of the tax credit for purchasing a home and now some of those folks are in a place where they need to move or sell. What then, the rules provide for the buyer staying in their home at least 3 years, if they can't what then.

Here is a link to an article that may help answer the question for your situation. Also if you are in the area and would like tax advice regarding this situation, please contact me and I will put you in touch with a great Tax expert who can help you. Need to sell your home, afraid it might be a short sale? I am experienced with that as well and have all the resources you will use along the way.

Here is the link and looking forward to talking with you soon.

http://articles.chicagotribune.com/2011-02-03/classified/sc-cons-0203-re-matters-20110203_1_first-time-home-buyer-tax-tax-credit-federal-income-taxes

Thinking you may rent your home instead? Call me in that case as well I have resources you will find helpful.

Anna Matsunaga 253 353 2662

www.teammomentumrealestate.com