Mailing that Holiday Card

Did you send a Card out to your friend, family or neighbor this year 2019 for the holidays? If you did not, Why not? I promise you, they will be thankful and open the doors for you. I just got off the phone with a good friend of mine that was unsure about this, whether or not to send a card to a neighbor.

Why be unsure? Be happy, has your neighbor or friend been good to you and said hello to you this year? Cool, give them a card who cares, what is there to worry about? Umm, nothing…say Hi, and tell them what a great of  neighbor they are in the card and if they happen to have a beautiful garden, provide services or cook great, tell them so and how you appreciate them as a neighbor or family, the little things is what matters, did they help you move or mow your lawn? Thank them. Why not? Be Thankful and Grateful for those around you.

-Cheers to Being Thankful and Grateful

Lock in that Mortgage Rate

Yes, You saw that, lock in your mortgage rate with your lender. If the rate is good, why wait? Lock in your mortgage rate, you can always change your mortgage rate if the market drops and the interest rates are lower. Make sure to ask your lender for a 60 day lock in rate even if your closing date is set for 30 days or sooner, because unforeseen things can happen during the loan process such as negotiating repairs during the inspection period or the appraiser may require a conditional appraisal, meaning the sellers will have to make necessary repairs to the home before the lenders underwriter can approve the loan and close, and these things can take time to negotiate and to do the necessary repairs before closing.

Also, make sure to get documentation of your lock in rate from your lender that it is approved and for how long. Always get these things in writing from your lender to cover yourself, no one wants to get to closing and have surprises such as sorry, your rate is getting ready to expire right before you have to do an extension or at the table the day of closing,  that would not be good. Get your mortgage rate in writing, make sure it is extended out for a long enough period to get to closing.

Generally, lenders will do 30 or 60 day lock in rates and may be able to do longer extensions, check with your lender to find more, how long they can extend your rate, if there are fees associated for a longer extension rate and how they can help you. Once your approved for a lock in rate, your lender will provide this information to you regarding what the lock in rate is and for how long your rate is locked in for. And if the lender does not or will not provide your lock in rate and how long it is locked in for, that is a red flag and I would be switching lenders and contacting your Real Estate Agent immediately.

If you have any questions about real estate or if your looking for Real Estate Services in your area please feel free to contact me, Kathleen Heady, REALTOR®️, KW South Sound with the Live Well Home Group, (253) 208-7631.

-Happy Home Shopping

Should you sell in Winter?

Why not? Markets across the US to include here in Washington state, are getting tighter meaning more buyers than there are listings available on the market. Also, Winter time listings have much less competition versus Summer time. There is more serious buyers in winter, which is great for sellers. Last year in Washington state in the month of December 2018, Seattle, Tacoma & Olympia sold a total volume of homes, which you can see here: 

source by infosparks NWMLS

Days on market for winter for the month of December in Seattle, Tacoma and Olympia was:

source by infosparks NWMLS

Now, Let’s look at summertime in 2018 to see the difference In volume sales and days on market…I’m going with June because that is 6 months apart from December. Volume sales in June 2018 for Seattle, Tacoma and Olympia was:

source info spark by NWMLS

There were 435 more homes listed in June 2018 in Seattle than there were in December 2018, and 179 more homes listed in June vs. December for Tacoma, and Olympia had 107 more homes listed in June than in December of 2018 and average days in Summer was:

source by infosparks NWMLS

Please, do not fret about days on market during winter vs summer, Remember there are holidays in winter, and homeowners are visiting families in and out of town, and the New Years people are getting back into the groove of things with work and family schedules after the holidays and winter break as well as with starting new years resolutions.

Another reason why you may see longer days on market for homes listed in the winter on average for Seattle, Tacoma and Olympia, as well as higher sales volume in Summer is because more Homeowners with school aged kids list their homes in Summer versus winter because it can be an easier transition for families to move during summer before fall when school starts. But, remember there are always buyers looking for a home anytime during the year, and because many homeowners wait until spring/summer to list, winter time has less competition.

-Happy Winter Home Shopping!

Top 3 Mortgage Delays

Top 3 Mortgage Delays everyday, what are they?

When Mortgage delays come from your lender. Here we go:

#1-INSPECTION-Buyers have 10 days to conduct an home inspection by hiring an licensed home inspector to inspect the home, unless the buyer chooses to shorten the home inspection, which can happen in a HOT MARKET, if the buyer really wants the home.  The bottom line is that the Home Inspection report by a licensed professional inspector of the home is for the buyers to be aware of the condition of the home and if any health or safety concerns may need to be addressed.  Also, the buyers have the right for additional 5 days to inspect the home following the 10 Day inspection if, there is reason to inspect the home further,  with contractors specialized in areas noted by the home inspector after the 10 day period. And, after the inspection period, If the Lender becomes aware that the home needs repair to the home they may request that repairs be done before closing.

#2-LOAN APPROVAL/FINANCING-It is always a good rule a thumb to shop around for a reputable lender before financing your new home. Make sure your getting the best rate on your mortgage loan. However, sometimes you can shop around, get the best rate and things come up during the process. One minute your approved for a VA loan, next it may be FHA and next it could be Conventional, who knows!? The bottom line is be prepared, and do not get down when things go down, if you are working with a reputable REALTOR®️ Your REALTOR®️ will help you negotiate thru the process, and you may be a week before closing when closing may not happen and you may be delayed by a day, few days, a week, two weeks maybe several weeks, all depends on what is going on with the conditions of the home and loan process.

#3-APPRAISAL-As soon as the negotiations for inspection is done, and buyer and sellers reach mutual agreement, the lender will then order an Appraisal. The Appraisal can go one or four ways (possibly more I do not know at this time but of these four) , One Appraisal is approved, Yay! Your on the road to closing. Number Two, The Appraisal finds things that need repair in the home and may determine the purchase price on a conditional basis which means making  some or all of the repairs that the appraiser calls out, in order for the home to appraise at the purchase price. Number Three,  If Seller won’t make the repairs requested by the appraiser but,  is willing to pay for repairs after closing, there’s a thing called escrow holdback, at this point all’s you can do is pray and hope your lenders underwriter will accepts your negotiations between buyer and seller. Number Four, Low Appraisal worse case scenario, now buyer and seller will need to negotiate who will pay the difference.

Lastly, Remember: Weather, Holidays, Sickness ect. Life happens and sometimes closing is just delayed.

Cheers to Happy Homes!

If you or someone you know is looking for a REALTOR®️ In your area I would be happy help you, contact me at:

Kathleen Heady REALTOR®️
KW South Sound

Kathleen@Thelivewellgroup.com

 

 

 

Gift Basket a.k.a Mystery Sister

The other night I had the opportunity to make this gift basket. I’am apart of a SAHM group where once a month we gift one another. This was my first time participating and I must admit, I had a blast shopping and making this Cross Canvas for the lady.