Are The Financial Heavens Opening up in Washington State

JP Morgan Chase is expanding it's home lending business in Washington State and will more than quadruple it's market share by the end of the year. Chase has seven branches and plans to open up four more offices this year.

As reported in the Puget Sound Business Journal "The financial's giant's plans are reflective of the state's rosy reputation among mortgage bankers, and also could indicate a resurgence of the mortgage industry as stable lenders step in to fill the gaps left by those that have gone out of business."

They also reported that Golf Savings Bank, a subsidiary of Spokane-based Sterling Financial Corp., is also expanding its home loan business and plans to add 20 new loan officers by the end of the year probably hiring former employees of Washington Mutual who just closed 23 offices in Washington State.

So buyers, get off the fence, we have a great economy here in Snohomish County, interest rates are low and there is plenty of inventory to choose from.

Contact me, Karen Villa Schweinfurth, ABR, CRS, SRES, e-PRO, REALTOR - "As no one knows Washington Real Estate like a Washington Realtor - 425-308-3669.

http://www.karensvillas.com

Washington Real Estate Market Trends Report

Temporary problems in the mortgage market are expected to free some pent-up demand, but disrupted existing-home sales and distorted prices on sales closed in September, according to the National Association of Realtors®. Even so, prices continued to rise in some area. Because of this and other factors, total existing home sales fell 8% and are 19% below the level that they were in September 2006.

Lawrence Yun, NAR senior economist, said the decline is understandable. “Mortgage problems were peaking back in August when many of the September closings were being negotiated . . . the good news is that mortgage availability has markedly improved in recent weeks . . .”

Let’s take a look at the King and Snohomish County October sales statistics to see if this trend held true:

Active listings in King County increased dramatically by 31% in October 2007 - 14,240 homes were on the market compared to 9,871 in October 2006. Although there are more homes on the market, the number of those homes selling continues to decrease, from 3,148 in October 2006 to 2,359 - a 25% decrease. The increase in inventory has also caused market time to increase 28% this October.

King County continues to experience rising prices overall, with the average sales price 8% higher in 2007 than 2006, bringing the average year-to-date sales price to $500,800.

Snohomish County continued to experience similar market activity to King County in October 2007. The number of active listings was up 34%, but closed sales decreased 34% in October 2007 compared to October 2006. Like in King County, the rise in inventory in Snohomish County caused the market times to increase from 50 days this time last year toto 75 days this October.

The average sales price increased 5% in October 2007 from October 2006, and year to date they have increased 9%.

This is a great time to consider buying or selling a home in Snohomish or King County WA. For more information about Snohomish County real estate, please visit KarensVillas.com or call me at 425-308-3669. To begin searching Snohomish County WA homes, please use my complimentary MLS search.

Happy Thanksgiving, Snohomish County!

May your Thanksgiving be blessed with the bounty of the season and the love of family and friends!

We’ll be back next week with more of the latest Snohomish County WA real estate news and information! In the meantime, please feel free to contact me at 425-308-3669 or visit KarensVillas.com.

Maintenance Tips for Hardwood Floors

The rich look of wood floors can add class and beauty to any room. The natural beauty of a wood floor never goes out of style and is very easy to incorporate in redecorating. But keep in mind that after much wear and tear, wood floors can look dull and worn and may need repairing.

Luckily, it is not always necessary to sand down the damaged part of your wood floor to give it a newer look. By filling cracks and gouges, your floor can look new again and it won't cost you a lot of time, effort and money. With these helpful wood floor repair tips courtesy of Rinehart Inspections Services, you won't have to cover scratches or gouges with pieces of furniture or area rugs.

Fixing a Scratch on a Natural Finish
Tools and Materials You Need: · Polyurethane or urethane finish (small amount) · Artist's paintbrush · Dry rag
Apply the Finish: Get a small can of wood floor finish, usually polyurethane, urethane or varnish (If you are not sure, use polyurethane.) The sheen of your floor may be satin, semi-gloss, gloss, or high-gloss. Try to match the new finish to the finish on your floor so it blends well. These types of finish cover the scratch best on a floor that has been finished naturally, or with no coat of stain. Apply the polyurethane or other finishing material to the scratch with an artist's paintbrush or any tiny paintbrush. The porous part of the scratched wood will absorb the finish and cover the scratch.
Buff the Scratch: Wipe away the excess polyurethane finish before it dries. If excess finish is not wiped away, it will be noticeable when the light shines on that spot. Buff with a rag to help the scratch to disappear.

Fixing a Scratch on a Stained Finish
Tools and Materials You Need: · Stain or furniture touch-up marker (similar color to your floor's stain) · Polyurethane or urethane finish (small amount) · Artist's paintbrush · Dry rag
Apply the Stain and Finish: If your floor was stained before it was finished, you must stain the scratch before applying the polyurethane or other type of finish. Use an artist's paintbrush or any tiny brush and apply stain to the scratch using a similar color to that on the floor. You can also cover the scratch with furniture marker in place of stain. Let the stain dry for at least 24 hours and then apply the polyurethane using the same brush.
Buff the Scratch: Wipe off the excess polyurethane that is not absorbed into the scratch before it dries so it does not leave a mark. Buff the scratch lightly with a dry rag to help it disappear.

Fixing Gouges
Tools and Materials You Need: · Latex wood filler · Putty knife · Sandpaper · Artist's paintbrush · Stain (if needed) · Polyurethane, urethane or varnish (small amount) · Dry rag
Fill the Damaged Area: Fill the gouge with latex wood filler and smooth it over using a putty knife, removing the excess filler. Let the area dry completely and smooth it with sandpaper.
Stain the Latex Wood Filler: If the filled gauge is very noticeable, it can be stained even if it is a natural finished floor. Use an artist's paintbrush or any tiny brush to apply stain to the dried latex wood filler. Let the stain dry for at least 24 hours. Use a stain that matches the color of your floor as closely as possible.
Apply the Finish: Using an artist's paintbrush, apply polyurethane or any other finish to the area once it is dry. Wipe away excess finish before it dries and buff the area with a dry rag.

To learn more about Snohomish County WA real estate, please visit KarensVillas.com, or call me at 425-308-3669. To begin searching for Snohomish County WA homes, please use my complimentary MLS search.

Get Your Washington Real Estate Facts Straight!

Have you heard the new ad campaign for the Washington Association of Realtors? The message is "Get Your Facts Straight!"

I couldn't agree more. Especially with the current real estate market in other parts of the country generating such negative publicity, this is a great time to take a look at what is going on here in Washington and realize how different our market is.

Check out this brochure, published by the Washington Association of Realtors, and get your facts straight!

If you are interested in learning more about Snohomish County WA real estate, please call me at 425-308-3669, or visit KarensVillas.com.

How to Avoid Foreclosure in Snohomish County WA

Thanks to this past summer’s increasingly tightening credit standards and rising interest rates, there has been a lot of buzz about the startling increase in foreclosure rates across America.

Many homeowners think it can or will not happen to them, but what would you do if you were actually faced with the prospect of foreclosure? It is important to know the “lingo” of lenders and understand what the options are so that you can make an informed decision on the best way to move forward in a stressful situation such as foreclosure.

This article from FreddieMac.com is a good resource that defines the terms associated with foreclosure and walks through the steps to take if you think you may soon be unable to pay your mortgage. Among the topics covered in this helpful article:
- What to do if you can not pay your mortgage
- What if you can no longer afford to keep your home
- Beware of scam artists

I would like to add to the list of steps to take when facing foreclosure – contact an experienced Realtor! Along with a reputable lender, an experienced Realtor can help explain your options and guide you through whichever choice you decide to make.

For more information about Snohomish County WA real estate, please call mes today at 425-308-3669 or visit KarensVillas.com, I would be happy to help you. To receive automated emails of new listings that match your criteria, please visit WashingtonMLSSearch.net.

Washington Market Trends Report

According to the latest forecast by the National Association of Realtors®, tightening credit standards for those applying for home mortgages will likely dampen home sales in the short term and postpone an expected recovery for existing-home sales until 2008.

Lawrence Yun, senior NAR economist, said unusual disruptions in the mortgage market are dampening the outlook for home sales, notably for August and September. “There’s been an unusual hit to home sales, starting in March when subprime problems emerged and more recently when problems spread to jumbo loans, with many potential home buyers on the sidelines.” He noted, however, that “the volume of existing-home sales this year will be better than 2002, which was the second year of the housing boom.”

Let’s take a look at August sales statistics to see how the market looks in King and Snohomish counties.

Active listings in King County increased a whopping 34% in August 2007 - 13,415 homes were on the market compared to 8,894 in August 2006. Although there are more homes on the market, the number of those homes selling continues to decrease, from 3,975 in August 2006 to 3,210 - a 19% decrease. The increase in inventory has also caused market time to increase 25%, from 40 days last August to 53 days this August.

King County continues to experience rising prices overall, with the average sales price 9% higher in 2007 than 2006, bringing the average year-to-date sales price to $504,036.

Snohomish County continued to experience similar market activity to King County in August 2007. The number of active listings was up 38%, but closed sales decreased 35% in August 2007 compared to August 2006. Like in King County, the rise in inventory in Snohomish County caused the market times to increase from 44 days this time last year to 67 days this August - a 34% increase.

The average sales price increased 6% in August 2007 from August 2006, and year to date they have increased 10%.

As these statistics show, now is a great time to consider buying a King or Snohomish county home. To begin searching for King or Snohomish county homes, please use my complimentary MLS Search, or call me at 425-308-3669. If you are thinking of selling your King or Snohomish county home, please call me or visit WashingtonHomeValues.net to receive your complimentary comparative market analsys. I will work to make sure you get a great deal!

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

Applying For A Loan In Snohomish County WA

You may feel like you are drowning in paperwork when you head to your lender’s office to apply for your next home loan. This is thanks in part to tightening credit standards that are causing lenders to require more proof than ever of borrowers’ income and expenses. To make the process somewhat less daunting, I’ve put together a list of items you may be required to bring along when are ready begin the loan application process: (please note, all lenders are different and may require more or less paperwork!)

Employment/Income
- Addresses of employers for two full years
- Gross monthly income, proven by last two pay stubs
- W-2’s, if available
- Proof of pensions, retirement, disability, or Social Security
- Proof of income from rentals, investments, etc.
- Proof of child support or alimony paid/received
- Self-employed: two years 1040 tax returns and current year profit and loss statement

Creditors
- Each creditor’s name, type of account, and account numbers
- Monthly payments and approximate balances
- Amount of child care expenses and other fixed monthly expenses

Banking
- Names of checking & savings institutions, along with account numbers and current balances
- Last two months bank and savings statements

Miscellaneous
- List of assets in stocks, bonds, land
- Life insurance cash value
- Social Security numbers for all parties
- Veterans: Certificate of Eligibility & DD-214 or Statement of Service
- Divorce Decree and/or Separation Agreement if applicable
- Child support documentation if applicable
- Bankruptcy papers if applicable

This may seem like a lot of personal information to have to provide just to apply for a home loan. But imagine if you were about to lend hundreds of thousands of dollars to somebody – you’d probably want a pretty good idea of that person’s ability to pay you back!

Please click here to get started searching for Everett WA homes. You can also visit my website or email me to learn more about Snohomish County WA real estate. I’m here to help!

What Is Your Snohomish County WA Home Built On?

Many of us may just think of it as the dirt and grass that our home is sitting on, but the makeup and quality of the soil upon which your home is built is extremely complex and varies from area to area. Investigating the soil on your property can tell you a great deal about the history and future of not only your home, but also about the land you have invested in.

But wait – does this mean we need to put on our ecologist hats and go digging in our yard with test tubes and Petri dishes? Of course not! The nice folks at the US Department of Agriculture’s have already done the “dirty” work for us and put together an extremely comprehensive Web Soil Survey website that contains digital maps and unbelievable amounts of digital soil data that has been methodically collected. Just type in your address and then explore almost anything you ever wanted to know about the soil upon which your home is sitting including chemical properties, erosion factors and likelihood, and its drainage class.

This is valuable information if you are considering building an addition to your existing home or just want to feel confident that the soil upon which your family treads every day is safe.

For a free comparative analysis of your home’s value, please click here - or feel free to visit my website or email me if you would like to learn more about Snohomish County WA real estate. I’m here to help!

Snohomish County Real Estate Update

If you’ve turned on the news or read a newspaper lately, you have certainly heard all of the buzz around the national housing market crisis. Some news media is even referring to it as “Mortgage Meltdown 2007.” In the wake of recent changes in interest rates and credit standards, Realty Trac (an online marketer of foreclosure properties) has announced that the recent influx of foreclosure filings showed now signs of easing as of July 2007.

Foreclosure filings in July 2007 showed a 9 percent rise over those filed in June 2006 and a startling 93 percent increase compared with July 2006.

Read the full article here, and please remember that an experienced Realtor is always your best resource if you think you may be facing foreclosure in the future. We can lay out your options for you and give you a realistic view of the current housing market.

To learn more about the latest in the housing market and Everett WA real estate, please visit my website or call me today at 425-308-3669.

Reardon Signs Critical Environmental Protections Into Law

I was honored to represent the Snohomish County Camano Association of Realtors last Wednesday as Snohomish County Executive Aaron Reardon signed new regulations into law that will help protect the County’s environment (I am behind Executive Reardon with other members of the County staff and community stakeholders).

The adoption of Snohomish County’s Critical Areas Regulations represents over three years of dedicated work, compromise and commitment to improve protections for the most sensitive areas of the county’s environment.

Environmental protections improved in the updated critical areas regulations include:
• strengthening provisions regulating clearing;
• adding lakes, marine shorelines, state sensitive listed species and species of local importance to our list of protected areas;
• increased buffers;
• limitations on impervious surface and clearing adjacent to water bodies containing critical habitat;
• improved protection of habitat containing anadromous fish;
• provisions for habitat corridors to connect wetlands with high value for habitat to other critical areas.

To learn more about local events and Snohomish County real estate, please visit my website or call me at 425-308-3669.

King and Snohomish Counties Market Trends Report – August 2007

A forward-looking indicator based on pending home sales shows the market is likely to stabilize in the months ahead, according to the National Association of Realtors®.

The Pending Home Sales Index, based on contracts signed in June, was 5 percent higher from the downwardly revised May index of 97.5, but is 8.6 percent below June 2006 when it stood at 112. This 5 percent monthly gain is the largest in more than three years, since a 6.1 percent increase in March 2004.

Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. “However, it is too early to say if home sales have already passed bottom,” he said.

Did this trend hold true in King and Snohomish Counties? Let’s take a look at July’s market statistics:

Active listings in King County increased in July 2007 by 4,357 homes or 34%compared to the same time period in 2006. Although there are more homes on the market, the number of homes being sold has decreased slightly, from 3,544 in July 2006 to 3,417 this July - a 4% decrease. The increase in inventory has also caused market time to increase 27%, from 36 days last July to 49 days this July.

King County continues to experience rising prices, with the average sales price 10% higher in 2007 than 2006, bringing the average sales price to $529,773.

Snohomish County experienced similar market activity to King County in July 2007. The number of active listings was up 36%, but closed sales decreased 17% in July 2007 compared to July 2006. Like in King County, the rise in inventory in Snohomish County caused the market times to increase from 42 days this time last year to 62 days this July - a 33% increase.

The average sales price increased 6% in July 2007 from July 2006, and year to date they have increased 10%.

The King and Snohomish Counties real estate market is always changing from month to month and neighborhood to neighborhood. Search the MLS here to see what's available in the area now and please call me at 425-308-3669 to inquire about any properties you would like to learn more about. I look forward to helping you!
Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

Snohomish County WA Interest Rate Update

The Real Estate Journal (a subsidiary of the Wall Street Journal Online), reported this week that tightening standards in lending may worsen the housing slump being felt in much of the country.

In the wake of the recent controversy surrounding the sub-prime lending market, more lenders in Washington are being forced to raise interest rates and stick with loans that are considered less risky than mortgages that were being offered previously. It is no longer those with the weakest credit records who are feeling the sting of the tightening standards when it comes to credit, documented income, and down payment ability.

Read the full article here to learn how this trend may affect you if you are in the market for a mortgage.

If you are in the market for a mortgage in Snohomish County WA, I am glad to refer you to a reputable, knowledgeable and competitive mortgage lender who will take the time to explain your loan options to you. This will allow you to make an educated decision about which home loan is best for you considering the current market conditions. Just give me a call at 425-308-3669 or visit my website. I'm here to help.

Back To School In Snohomish County WA

The summer is flying by – as it always seems to do – and it is almost time to start thinking about sending kids back to school again!

Whether you are new to the Snohomish County area or already have kids in school here, now is the time to take a good look at how the schools are measuring up.

Below are links to information about the Everett and Marysville school districts – does YOUR child’s school make the grade?

Everett Public Schools
Marysville Public Schools

To learn more about moving your family to Snohomish County WA or Everett WA real estate, please call me at 425-308-3669 or visit www.KarensVillas.com.

10 Ways to Make Your House in Snohomish County WA More Saleable

1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.

2. Wash your windows and screens to let more light into the interior.

3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.

4. Get rid of smells! Even if you think you house does not have smells, spring for a good carpet and drape cleaning to eliminate any possible cooking odors, smoke, and pet smells. Keep the windows open when possible (if road noise is not an issue).

5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.

6. Make minor repairs that can create a bad impression. Small problems, such as sticky doors, torn screens, cracked caulking, or a dripping faucet, may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.

7. Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.

8. Patch holes in your driveway and reapply sealant, if applicable.

9. Clean your gutters. Remove any debris such as pine straw that has accumulated on the roof.

10. Polish your front doorknob and door numbers. Remember, the door is the first part of the home potential buyers see!

For more information on selling your home in Snohomish County WA, visit my website. Or give me a call for more personal service, 425-308-3669. I would love to help make your home more saleable!

Market Trends Report For Snohomish County, WA – July 2007

Home prices are expected to recover in 2008 with existing-home sales picking up late this year and new-home sales rising early next year, according to the latest forecast by the National Association of Realtors®.

Lawrence Yun, NAR senior economist, said a good buyers’ market has evolved. “Buyers now have an overwhelming advantage given the wide selection of homes available in many markets,” he said. “But with profit margins coming under pressure, homebuilders will limit new construction well into 2008. This should help the overall inventory level to move steadily into a more balanced state.”

Active listings in King County increased in June 2007 by 4,271 homes or 45% compared to the same time period in 2006. Although there are more homes being sold, there is also a marked increase in inventory causing the average market time in June to increase to 46 days vs. 36 days in 2006.

King County continued to experience rising prices, with the average sales price 11% higher in 2007 than 2006, bringing the average sales price to $507,969.

On the other hand, Snohomish County had a 12 percent decrease in sales - 191 more homes were sold in June of 2006 than of 2007.

Despite the sluggish sales, the number of active listings increased by 62 percent in June and market times increased 31 percent or 18 days. The average sales price increased by 9 percent compared to June 2006, increasing to $394,710.

Year to date, sales declined 15 percent, and the average sales price increased 11 percent.

June statistics show it is a great time to buy a home. Buyers have more homes to choose from, making sellers negotiable. But, buyers also need to keep in mind that buying a home is a long-term investment and can't expect to see the double digit annual appreciation of a few years.

For more information about living in Snohomish County or Snohomish County real estate, please call me at 425-308-3669 or visit my website at www.KarensVillas.com.

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

Fun Things To Do In Snohomish County, WA

Summer is in full swing and as the novelty of being out of school begins to wear off, most parents are bracing themselves for the inevitable “I’m booooored” that is just bound to come out of their children’s mouths soon.

Below are links to several fun things to do with your children this summer to get them outside and enjoying this beautiful time of year in Snohomish County:

Snohomish Parks
Fishing
Museums
Horseback Riding
Outdoor Adventures
And more…

For more information about living in Snohomish County or Snohomish County real estate, please call me at 425-308-3669 or visit my website at www.KarensVillas.com. Here’s to an exciting second half of the summer!

WA Homeowners Insurance & Fire Stations

So what does the location of my Washington home have to do with the fire station?

Most insurance companies will ask the proximity of your home to the nearest fire station or fire hydrant. The closer together they are the cheaper the insurance.

The theory behind this is, if there were to be a fire, the closer the house is to the fire station, the faster the response time and the less damage done to the house.

Often, your insurance agent will ask you how far the house is from the fire station and if you are like most new home buyers, you don't have any idea. This link shows the name and address of all Washington fire departments. After locating the fire department for your town, you can map the distance from your house to the fire station.

For more information about homeowners insurance or Snohomish County real estate visit KarensVillas.com or give me a call at 425-308-3669. I'm glad to help!

Senator Patty Murray Signs Bill

While myself and more than 80 Washington REALTORS® were in Washington DC advocating for issues on our industry's behalf, Sen. Patty Murray signed on to S. 413, the Community Choice in Real Estate Act, which maintains the longstanding national policy prohibiting the mixing of banks and commerce.

Other members of Congress from Washington state who support the companion bill HR 111 in the House of Representatives are Reps. Jay Inslee, Rick Larsen, Brian Baird, Norm Dicks, Cathy McMorris Rodgers, Dave Reichert and Adam Smith.




Me with a view of the Capital.



Me with Congressman Rick Larsen

Visit my website for all your Washington real estate needs!

King and Snohomish County Real Estate Sales

"Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year according to the latest forecast by the National Association of Realtors. Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom." The King County housing market experienced an increase in sales in May, while Snohomish County sales were sluggish. Let's take a look.

Active listings in King County increased in May 2007 by 3,856 homes or 52 percent compared to the same time period in 2006. Sales in May increased by 2 percent or 74 homes. The average market time in May was 54 days vs. 42 days in 2006.

King County continued to experience rising prices, with the average sales price 12 percent higher in 2007 than 2006, bringing the average sales price to $521,402. Year to date, sales weakened by 2 percent, while prices strengthened by 11 percent.


On the other hand, Snohomish County had a 13 percent decrease in sales. Down 208 homes from May a year ago.

The number of active listings increased by 60 percent in May and market times increased 32 percent or 14 days. The average sales price increased by 10 percent compared to May 2006, increasing to $383,558.

Year to date, sales declined 15 percent, and the average sales price increased 14 percent.


May statistics show it is a great time to buy a home. Buyers have more homes to choose from, making sellers negotiable. But, buyers also need to keep in mind that buying a home is a long-term investment and can't expect to see the double digit annual appreciation of a few yers.

If you are thinking of buying a home, you can get a daily email list of new homes for sale as they hit the market by visiting my website. It is fast, easy and FREE!

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.