The Mortgage Porter

First Seattle Snow of 2012

Here are a few photos from my garden in West Seattle. I ran out to take these photos moments ago when the snow was beginning to look like it was mixed with rain. As I write this post, we're back to big fluffly snow flakes.

 

 

 

 

 

This photo was taken by my son moments ago, as my husband is driving him back to Seattle U, on northbound I-5.

 

Stay warm and safe everyone!

Santas Occupy Seattle

Not really! Yesterday we started our Christmas shopping in Seattle and were delighted to bump into hundreds of Santas for Santacon 2011. Aparently all over the world, there were thousands of Santas coming out to be jolly before the big day.

More photos of Seattle Santacon 2011

By the way, Christmas shopping in Seattle is one of my favorite things to do in the holidays. I highly recommend getting out to Pikes Place Market - especially on a sunny day.

Merry Christmas and Happy Holidays to you and yours!

Seattle Homebuyers Surprised by Multiple Offers on "Ideal" Homes

Earlier this month, Aubrey Cohen of the Seattle PI wrote "Home buyers finding competition for nice homes in Seattle".  As a Mortgage Originator, I find that many of the home buyers that I'm working with are discovering it's taking a longer amount of time to find the "right home" due to lack of inventory and then, once they do find one they're interested in, they discover they're not alone.  David Billings of Redfin, says:

"When the ideal, cute, turn-key starter home comes on market at a price that a buyer feels is a decent value, they're shocked to find that there are lots (three, four, maybe six) of other buyers that feel just like they do," ..."After having patiently waited out the market and read every article about how terrible Seattle real estate is, they can't believe they'll need to pay full list price, let alone the possibility of paying more in order to beat out others. It takes some time for them to come to grips with this reality and get competitive with their offers, or adjust their search to a home that needs some work, or is in a slightly less prime location."

The article reports the "hottest" homes are priced under $500,000 "turn-key...staged, painted..." located in the neighborhoods of Northeast Seattle, Capitol Hill-Montlake and Ballard-Greenlake. "Multiple offers have jumped from between 30 and 35 percent to 40 and 50 percent, hitting 51.4 percent in Ballard".

What's a Ballard Home Buyer to Do?  Actually, I think this applies to any home buyer who's considering making an offer on a home, especially if it's one that is "ideal" and newly listed. 

• Meet with a local licensed Mortgage Originator to review your financial options and get preapproved. You really can't start this process too early - even if you're not planning on buying for a year, meeting with a mortgage originator and reviewing your credit and assets (funds for down payment) ahead of time may help put you in the best position possible for when your "ideal home" comes on the market.
• Have a plan and set your limits. Determine what mortgage payment you're comfortable paying and what down payment you're willing to part with (this may be a lower amount than what you're approved for).  
• Develop thick skin. Buying a home can be emotional - especially in a bidding situation. Be prepared that you may not win a bid and stick to your price range. 
• Work with a professional real estate agent. Get referrals and check out your real estate agent just as you would when selecting a mortgage professional. Some agents, especially in this market where their commissions may be down, may be more interested in making a sale than looking out for you. I'm happy share my recommendations with you.
• Be patient. Some of my clients have taken up to a year or more enduring several bidding wars before landing their home.

In a multiple offer situation, you're going to need to present yourself as a strong buyer, which includes having a well written preapproval letter. The Seller has probably heard plenty of horror stories of failed transactions due to tougher underwriting guidelines and they're going to want to select a strong buyer. Other factors may also include how quickly the transaction can close, especially if the home is vacant or if the seller has an offer pending on their next home.

In a possible bidding situation, I will often prepare several preapproval letters at various price points for my clients so they can determine just how high they want to go with the potential sales price.  

With home prices in Washington reaching "record affordability" combined with historically low mortgage rates, many home buyers are looking for their "ideal home" at a more reasonable price or a distressed property at a discounted price.

Bottom line, be as prepared as possible and start the preapproval process early. If you're considering buying a home located anywhere in Washington State, I'd love to work with you.

Home and Garden Art in Seattle

Just north of Ballard in the Crown Hill neighborhood is a delightful shop: Home and Garden Art. I stopped by in search of a semi-sphere trellis for two tree camellias we have in our garden, which I didn't find...however, I loved what we discovered. You'll find everything from rustic arbors to painted singing frogs and everything in between.

Home & Garden Art is located at 1111 NW 85t Street in Seattle.

West Seattle Street Fair

The West Seattle Street Fair (aka  West Seattle Summer Fest) is taking place right now (actually started yesterday) in "The Junction" on California Avenue.  If you've never been to the fair, it's a lot of fun, food, arts, crafts and music.  The fair ends tomorrow at 5pm and goes on until midnight tonight...so don't delay!

 

 

Car Art Show in West Seattle

An Art Car Party is going on behind the Feedback Lounge (and Zeeks Pizza) until around 8:30 tonight and is worth the visit in you're in the in West Seattle neighborohood.  NOTE: I'll post more pictures as soon as I can (I'm in the process of making a Father's Day dinner for my hubby).  Link posted below to more pictures.

 

Hat tip to Marlow Harris, her Elvis Traveling Museum is pictured below.

 

This is the "Yarn Car".

 

UPDATE: Check out all of my photos of the amazing art cars by clicking here.

 

HELP!! I'm goint to be "locked up" in West Seattle to raise funds for MDA

I'm scheduled to be "locked up" to raise funds for the Muscular Dystrophy Association on April 7, 2011 at Angelina's Trattoria in West Seattle. 

While I have no idea who the special person was who nominated me to this event, I do know that I'm tasked to raise $2,000 to help King County families.

Please help "bail me out" by making a donation (click here).  Every donation counts and I appreciate your support for this important cause.

Thank you!

Seattle Scenes

Just a few photos I caught with my Droid-X while we were cruising through Seattle today.  With the "s" word in the forecast, we stopped by REI for some mittens and other warm winter wear.  

The first two photos are of Seattle's historic Steam Plant.

 

 

 

You can just see part of Qwest Field, where the Seahawks and Sounders play, to the right of King Street Station from Pioneer Square.

Seattle Skyline Over the Years

This video is actually very clever marketing for the proposed new building Fifth and Columbia in downtown Seattle.

The West Seattle Grand Parade

I must confess, I love parades.   And for me, the West Seattle Grand Parade is at the top of my list.  Not only is it in my home town, it features JP Patches, Seafair Pirates, marching bands, drill teams and Miss West Seattle HiYu with her court.  

 

 

 

 

This year, my step-daughter, Kelsey, is a candidate for Miss West Seattle HiYu which makes the parade extra special.

 
Here are more of my photos from yesterday's West Seattle Grand Parade.