Puyallup, WA

Hello Puyallup foreclosure Buyers!

Welcome to my blog, Thank you for the visit!

I've been swamped with calls lately from potential Puyallup foreclosure buyers that have been misinformed at best.

I've written this post specifically for buyers interested in purchasing a Puyallup foreclosure or pre foreclosure. This post will cover something that you may not want to know, but it's information you absolutely need to know.

Do you know the difference between a true foreclosure and a pre-foreclosure?

Before you answer, please read on.

Rather than focus on the Puyallup Foreclosure term, you really need to acquaint yourselves with the correct terms used by real estate professionals.

Let's tackle the Short Sale- This is the pre-foreclosure opportunity that many co workers in your lunch room may have been telling you about. Often times these homes are priced ridiculously low in an attempt to draw an offer, ANY OFFER, so that the agent representing the seller can begin the short sale process with the seller's bank.

You'll find a lot of them in the Puyallup Real Estate Market. Areas such as Sunrise and Silvercreek are lousy with them right now. For those of you that may buy 3-5 homes in your lifetime they may look like a fantastic deal and sometimes they actually are. The odds are decidedly against you.

Unfortunately, most often they present a bait and switch opportunity that you may not be able to capitalize on. The agent representing the seller needs an offer to present to the bank, if you approach the seller's agent with an offer you run the risk of being used as a pawn for the seller's benefit.

What's the downside of writing an offer that will never be accepted by the bank?.....TIME.

Did you know that it may be several weeks before you hear back from the bank on your offer?

Did you know that there is absolutely no guarantee that the bank will actually accept the offer, even if it is full price?

Did you know that many Short Sales take 2-6 months to actually close?

There is no guarantee that our historically low interest rates will last that long. What may seem like a great deal to you at 5% may not be such a deal at 6%. Ask your lender about pricing for a 60-90 day lock, it isn't pretty.

Don't let yourself become a victim of the short sale fairy tale! There are great deals to be had out there right now, but not all short sales are worth your time and energy. Hire an experienced buyers agent that knows the ins and outs of the short sale process. An experienced buyers agent will have tactics that will increase your chances of actually closing and moving into your new Puyallup Foreclosure Home.

To read more about successfully purchasing a foreclosure in Puyallup stay tuned for my next blog entry. It's not a sales pitch, it's the truth and will save you both time and money.

Thanks again www.activerain.com for another successful transactions between 2 Active Rain agents.

I am a Real Estate agent in Auburn, Washington who after selling a clients home in Puyallup, requested an agent from activerain to help my seller find a home in Minnesota to purchase and move into. I came across Stieg Strand, who I requested to help my clients. He went out and immediately found my clients a home and made this a painless transaction for my clients. Thanks so much for your help Stieg!

The agents involved were....

Jason Schweiger - Real Estate 2000 - www.mynwagent.com - http://activerain.com/mynorthwestagent

and

Stieg Strand - Re/Max A-1 - http://www.stiegstrand.com - http://activerain.com/stiegstrand

Market Activity
One positive market trend continued for the month of October - listing inventory decreased from 1087 in September, to 1046 by the end of October. Inventory reduction is one of the keys to our housing market recovery. The number of homes sold in October fell by 38% to 83, from 133 in September. The state of the economy and the jobs outlook continue to press down on the housing market. Ever the optimist though, homes are still being bought and sold in this market - it has not ceased up, but just needs a bit of grease. Realtor associations are working with state and federal legislators to find a way to boost the housing market. We should have hope for the coming year.

Read on...

Puyallup City Manager Gary McLean made it official today, naming interim police chief Jim Collyer as the city's new chief of police. Collyer has been serving as interim chief since April 2008. Prior to that, Collyer served as the Deputy Chief since 2003.

"Chief Collyer brings a depth of experience and professionalism to the position," said McLean, "and he's earned the respect of officers and staff both here in Puyallup and across the state."

Collyer began his career with the Puyallup Police Department in 1983 as a patrol officer. Over the next 25 years he also served as training officer, detective, patrol sergeant, narcotics unit supervisor, general investigations unit supervisor, tactical team supervisor, multi-agency major crimes team supervisor, patrol division commander, investigation division commander and deputy chief of police. He also served 11 years as president of the Puyallup Police Association; executive chairman of the Tacoma Regional Drug Task Force; and chairman of the Cooperative Law Enforcement Cities of Pierce County.

Read on...

Current Price Trends
September statistics released by the NWMLS show a significant drop in the median home price. The median home price for Pierce County ended September at $250k - representing another 11% drop in year-to-date appreciation. I believe that this drop represents a large sell-off of homes in the lower price spectrum, as opposed to a drop in prices throughout the market. The rise in number of sales this month could support either theory - regardless, reducing standing inventory is good for all sellers.

Read on...