Tacoma, WA

It is so important when going to a potential short sale listing appointment that you are prepared to ask the right questions to make sure that you do have a hardship. This will save you and your client a lot of time, money, and frustration.

In my experience, I have found that when going to one of these listing appointments having a list of questions so as to "interview" the potential client before you take the listing is really important. I was told back when I first started taking on short sales was that the best business you do in this field sometimes was the business you DIDN'T take.

I received a referral from a business colleague who told me of a woman who had a son that had a parole officer and was needing to go to military school (or to jail which I immediately understood her plight) which was going to cost her over $2000.00 per month. When we met at the listing appointment she told me that she was a very successful nurse at a local hospital and could make whatever she wanted since nurses are in high demand in our area. She did have some debt, purchased her house about 18 months previously and the house was definitely valued below what her mortgage amount was, but as I pieced this together I quickly realized a potential "insolvency" in the future, but definitely not now.

Its always hard to turn down business, but she didn't actually have a hardship yet. Key word is "yet". I am finding the banks are getting a bit better at these short sales (with the exception of Chase and B of A) but the key to a successful short sale is having a genuine hardship and very willing and helpful clients.

Buyers only need to pay taxes on the land portion of certain properties for up to 12 years.

The City wants to encourage the development of multifamily housing in Tacoma's seventeen Mixed-Use Centers. In the case of my current escrow, the buyer will only have to pay property taxes based on the land value for the next 10 years. Now that is great incentive, especially in this market place. You can get more information of this program by clicking here.

I am presently closing on my 2nd escrow involving this tax exemption or abatement as it is also called. In the previous escrow, the buyers lender accepted the sellers "Tax Exemption Agreement" for closing. In the transaction that I presently have, HUD has told the lender that they want the Exemption reflected on the County's website and title to reflect it on title.

Now that may seem like a simple, reasonable request but know now that the City's process once approved can take 3-4 weeks to get to the assessors office. So builders, beware: You will want to be sure that your approval with the city and the date you plan on closing the sale to your buyer have been set in proper order!

The title company insuring this transaction is getting a crash course in all this also and I certainly hope the upshot is that they will at least show it as a Notation for 2010 taxes.

Stay tuned!

Julie

The good news is about 30 Days from start to finish!

With interest rates at record lows, now is a great time to consider refinancing your Tacoma VA loan. With our VA Refinance Program, All Tech Mortgage has the ability to go up to 100% of the appraised value. In order to meet the 30 Day timeline here's a list of items to pull together to be better prepared to start:

1. Copy of 2 most recent paycheck stubs - covering a 30 day cycle
2. 2008 & 2007 W2 Forms
3. Copy of 2 months bank statements ( Need entire statement - if it says page 1 of 5, we need all 5 pages)
4. Copy of your current homeowners insurance policy
5. Copy of your current mortgage coupon or monthly statement
6. Copy of your DD214 or VA statement of service form - call for a sample
7. If current loan is a VA loan, need copy of the VA Note

Plus, Veteran's receiving 10% or more disability are exempt from paying the VA Funding Fee. Up to 100% of appraised value on a 30 year or 15 year fixed rate loan. For more information on VA Loans in Tacoma, WA contact Kevin Tinsley - Tacoma's #1 VA Mortgage Expert http://www.vahomeloanstacoma.com

(253) 472-1500 or toll free (800) 339-7059

From Anna Matsunaga, Team Momentum Real Estate, Keller Williams Realty Tacoma

253-353-Anna www.teammomentumrealestate.com

This is a restaurant review written by our team's intern/assistant Lani Panama, she was there last week and LOVED it. I am impressed with the restaurant as well, not just because of their food and service, but because they have supported our Keller Williams office with our fund raising efforts for Relay for Life!

It's got plenty of parking and is close to the Tacoma Mall so easy to get to from most everywhere. I love how close it is to our Keller Wiliams office!

Adriatic Grill Restaurant- By Lani Panama- Photos by Anna Matsunaga

I enjoy dining at the Adriatic Grill Restaurant near Tacoma Mall. The atmosphere is very warm and inviting. There is great customer service and the staff is very welcoming. The food is fabulous!

If you like Italian food like I do, then this is the place to go! I would highly recommend this restaurant. The prices are comparable to nearby restaurants, but the food is far more excellent! This restaurant is also kid friendly, with a goody bag to keep kids busy, as well as dough to play with while waiting for the food to arrive.

It doesn't take long to wait on the food, as the food always arrives quickly. The bread, balsamic, and olive oil they offer upon arrival is TO DIE FOR! And my personal favorite, their Chicken Fettuccine Alfredo is delicious, as well as there iced beverages. I can't wait to go back!!!

--Lani Panama

For more information, go to: www.adriaticgrill.com or call for reservations: 253)475-6000

Adriatic Grill is located at: 4201 South Steele Street, Tacoma, WA 98409

--Anna Matsunaga: www.teammomentumrealestate.com

Most potential home buyers come to us thinking that they will have to suffer, scrimp, and save every penny to save for their down payment. Today we are going to look at an option to save money each and every month without having to suffer or scrimp. You will save but believe me you will not suffer.

Jim Hunger is both a friend and a client of ours. Jim is a single dad who shares custody of his son Henry. Jim feeds his family on a budget of $200.00 a month. That’s right $200 a month! There is no scrimping, no suffering to eat fantastically on $200 a month if you follow Jim’s lead! Now having a “tween” for a son makes meal planning a challenge. Or does it? The whole point of Jim’s food budget is to eat well for less money than we think possible.Even if feeding the kids.

I have been following Jim’s blog Musings on the Path to Frugality for quite some time. I know it has helped our household cut our food budget by quite a bit. I’m not the record keeper that Jim is but I know that my food bill is at least 30% lower and I feed two teenagers every day!

I think that anyone that reads this blog will increase their enjoyment of food and their savings account! Jim was able to save the money for the down payment of his home in part because of the money he was able to save by spending less on food each month. It was not the only way he saved the money for the down payment but he says it was the most enjoyable way. When trying to save the money to buy a house there are many things you can do to save money.

We are going to start a series of posts here on Monday’s using one of Jim’s recipes. Nobody said you have to suffer to buy a home! We will also share other creative ways to save money for your down payment or really for anything you want to save money for! If you have any creative ways that you have used to save money please share them in the comments section of this post or visit my blog Classic Homes Northwest.

If you want to read more about Jim’s Musings on the Path to Frugality you can find the blog here. Additionally there is a fan page on Facebook and you can become a fan of Jim and his musings by following this link.

All the best-

Scott Cowan
Classic Homes Northwest