FHA short sales have their pros and cons.

This darling 2 BR unit at Harbor Reach at the Lakes in Kent, WA sold the

first day on the market! Unfortunately, through a series of odd circumstances, it's taken 5 months to get it ready for recording. But, loan documents have been signed and the final HUD is out for FHA approval....

Fingers crossed! 

HUGE investment upside in this 3 BR solid 1950's built rambler on .34 Acre lot w/ R18 zoning. Great layout w/ extensive hardwood flooring, masonry fireplace & finished Rec Room. Detached Garage 20x24, plus shed in fully fenced rear yard. Newer vinyl windows & Roof replaced in '08. Lots of parking and close to shopping, Valley Medical & schools. Live here, invest and lease or develop into Multi-family units...many options and a great value.

More information here:

Beautiful San Francisco Style 2 BR Townhouse on three levels. Tandem 2 car garage with door to small fenced yard is the start, then you'll climb one flight of stairs to the Main Living Area with Living and Dining Rooms, Island Kitchen and 1/2 bath. Upstairs is laundry, and 2 BR each with their own baths.

Take a peek....it's a great deal!

Patrick's Faire~ BIG Fenced Rear Yard

23424 SE 240th Maple Valley, WA

Sometimes opportunity does knock twice! This charming 3 BR 2 story in Maple Valley's Patrick's Faire neighborhood is now back on the market at a reduced price of $215,000. 

Details here

 Harbour Homes Sequoia Model....this short sale involved one loan with Chase. It was HAFA eligible and ultimately was HAFA approved.

The CASH buyer was able to close within two weeks of Short Sale Approval.

Not all short sales are nightmares. The process is becoming more streamlined...if the servicers would just get out of the way (this is on my Christmas Wish List) and stop trying to throw up proprietary roadblocks, everyone would be more trusting and willing to engage in the process.

Until then, my team and I keep working the phones and helping one owner at a time, find the best way to get the 3000 square foot monkey off their back.

If you have short sale questions, be informed and get the answers you need to make an informed decision!

Sadly, Andrea, who has been with us for 4 years, is moving on to a position which will allow her to work from home and give her greater flexibility with her daughter's school schedule. Fortunately for us, Andrea will stay on while we interview and help train our new Assistant. Feel free to share our ad below with someone you think might be qualified or interested!

Real Estate Assistant Needed for SE King County Real Estate team.

We are looking for a very task oriented assistant to join our team, working approximately 25-30 hours per week from our Maple Valley office.

Hours: Most of the work will be done from the office in Maple Valley. The majority of the job will be in the office, but a small percentage would be out in the field; running errands, delivering keys & flyers, etc.  Some weekend and potentially evening work will be required. Rarely, but if we ask…..the correct answer would be “Yes, happy to help”!

Experience: While real estate or escrow experience is a plus I will consider someone who is a quick learner and has previous admin experience. Other fields which require acute attention to detail will be considered. Strength in technology and/or marketing fields would be a bonus, but not required.

Language: Must speak and write English clearly and correctly. Additional languages are a bonus, but not required.

Technology: The real estate industry is becoming heavily reliant on technology. I prefer to stay on the cutting edge of new things, and it would be helpful if you’re not intimidated by change. Photoshop, Publisher, Excel, HTML and basic CRM skills would make me very happy, but I’m willing to train the right person.

Customer Service & Professionalism: This is huge for us and if you don’t come to work happy and ready to be helpful, you’re probably not the best fit. Working with deadlines can be stressful. Real Estate can be stressful, but you’ll be the one helping keep everyone calm. Staying courteous and pleasant, from first phone call to closing and beyond is a must. A professional appearance and demeanor is also required.

Attention to Detail:  I’m all about the details, in terms of the finished product. The details have to be taken care of, with a fine-toothed comb. I tend to be a big picture thinker with lots of ideas. It’s will be your job to take them and put them into action. You can’t be afraid to offer an opinion or suggestion if something can be improved upon. .

Self Starter: While it’s perfectly fine to need training, you can’t be someone who needs their hand held. The key to our team’s success is everyone knows their job and gets it done. You must be the type of person who loves crossing things off your list. In other words, you have to have a drive to get the job done, and get it done right!.

Organized: I’m not (at all), which is why I need you. We have systems and checklists, but while I’m good a creating them, I need someone who’s able to follow them, tweak them and suggest new ones if/when needed.

There’s no “I” in Team: We are a very fun, close group of successful professionals. If one of us needs help, someone has to step in. That doesn’t always fit with the description of a J.O.B. If you just have a job mentality, this isn’t the position for you. We’re a team, growing a business. We want someone who understands that and understands that through our joint efforts, we can all succeed, grow and thrive. 

It’s Not about Me, but…..You might want to know a bit more about me. I have 21 years experience in Residential Real Estate sales. I am the Designated Broker & Owner of my office and love coming to work most days. 95% of the time I’m easy going. 5% of the time, I’m Meryl Streep-Devil Wears Prada….I get mad, I don’t stay mad. Sometimes I’m prone to break out in song. If you want a Christmas gift, you should tell me I’m good.

Other helpful tidbits:

• Good phone skills are a must. You can’t be afraid of the phone
• Pay will be based on experience with opportunity for bonuses based on team performance. There is incentive for everyone to succeed.
• Hours can be somewhat flexible but ideally we would like someone from 10-4 M, T, W and 9-5 on Fridays.

I would love to hear from you if you think you’d be a good fit for us. If you’re still interested (after my fully transparent posting), please send me a resume and cover letter staying why you’re interested and what you think you can bring to our team in order for us all to have fun and be very successful! Details are good (see above).  

No phone calls please.

S outh King County Market Statistics by City for the first half of 2011. These numbers represent Single Family homes only listed and sold through NWMLS. Of interesting note (to me anyway) is the minimum sales prices in every single city. Bargains abound....first time home buyers can and should be investigating their options to purchase. Zero down programs, gifted funds and some lenders have portfolio products which allow them to ease a bit on credit scores.

I love to read.

I remember in 2nd grade getting in trouble for being late to dinner because I was on the last chapter of Little House on the Prairie and there was no way I was not going to find out how thestory ended. These days most of my reading is business, finance or real estate related, although occasionally I make time for the latest James Patterson or Harlan Coben release.

A few weeks ago I came across a blog post by Steve Harney, entitled, "Long Term Investors are in for a Bonanza". Here's the intro:

"More millionaires were created as a result of the Great Depression than at any time in the nation’s history. Noted rich-guy John D. Rockefeller has said, “The way to make money is to BUY when blood is in the streets.”  Another noted rich-guy, Warren Buffet, believes you should “be fearful when others are greedy and to be greedy only when others are fearful.”  Huge success comes to those who see confusion as an opportunity. Today, there is a significant opportunity"

For the last year, I have watched many people maneuver to take advantage of the opportunities created by the downturn in the market. Personally, my husband and I negotiated a terrific deal on the building my RE/MAX office had been leasing. my office building....something which probably wouldn't have been possible 5 years ago. 

Let's look at some of the reasons this is a great time to invest:

• Today, it's possible to buy an investment property with 10% down, although 20-25% is more realistic and offers the best rates (still in the 5's!!).
• Rental rates are very good and tenants are looking for long term leases.
• In years past it was nearly impossible to lease for more than your mortgage payment....not so now
• Due to the credit repercussions of short sales and the longer-term ones of foreclosure, the rental market looks stable and strong for the next 5-7 years while the market recovers

An example cited in Steve Harney's post goes as follows:

Let’s Look at an Example

Buy a home for $200,000, expend $50,000 for down payment and closing costs, and have your monthly carrying costs covered by rent. If you sell the property in 15 years for $400,000, you did not double your money, you had a 400% return on your money (because you only used $50,000 cash to get your $2000,000 profit). The fact that you can leverage real estate is how fortunes are made.  If you could cover your expenses through rent payments received, and leverage your cash invested at a 3:1 ratio, WHY WOULDN’T YOU EXPLORE THIS STRATEGY TO BUILD YOUR FUTURE NEST EGG FOR RETIREMENT???

It's a great argument. Now we just need to get over the fear of taking action and seize the opportunity that's right in front of us!