2230 157th Lane SW, Tenino 98589 FOR SALE $269,000

The Appraiser Is Coming...

When is the appraisal ordered and why do I need one?
An appraisal is ordered once the home inspection has been completed and accepted by all parties.  An appraisal is required, by the lender and secondary market, to determine the property's market value and is used to verify a property's worth for future financing.

Who ordered it?

• Appraisals are order by the buyer's lender through a 3rd party management company in order to prohibit undue influence and/or pressure to "come up with the number".

What should I do?

• Assist the appraiser's accuracy by being prepared before they arrive:
• Make a list of recent updating and/or remodeling as well as the cost. (furnace, roof, siding, appliances, floor covering, etc.)
• Add to the list special features such as sprinklers, heated countertops/floors, security systems, sound systems, etc. that may not be obvious.
• If you are present, make yourself available to answer questions, but give the appraiser a bit of space to do their job. Don't hover!
• Appraisers must state whether kitchen and bathrooms have had significant updating and/or remodeling within 15 years and state the timeframe the work was completed.  Be prepared so the appraiser doesn't have to guess.

What will the appraiser do?

• Inspect your property during daylight hours.
• Measure the interior and exterior of your home.
• Photography your home inside and out.
• Photograph your carbon monoxide detector (make sure to install it prior to their inspection).
• Inspect the crawl spaces and electrical panel.
• Inspect and photograph all outbuildings (even if they are considered personal property and not included in the value).
• After inspecting your property the appraiser will verify comparable sale and listing data, prepare a written report and send it to the appraisal management company.

The appraisal is paid for by the buyer as part of their mortgage loan fees and as the seller you will not receive a copy of the completed appraisal.

Foreign Money Purchasing Strong in the Pacific Northwest

Wealthy Chinese are sinking billions of dollars into Puget Sound area real estate, and by doing so they're making a clear-cut business case for protecting the environment and spending money on education. The influx of foreign buyers, mostly Chinese, was one of the top real estate stories of the 2014. It's not just that many foreign nationals are buying here. Rather, it's how they're executing transactions, with some paying all cash for pricey assets.

The most incredible real estate stats of 2014

Employment in the U.S. is projected to grow over the next decade. New-home construction is exploding. Shadow inventory is dropping. We pulled it all together in one place with “The Most Incredible Real Estate Stats of 2014.”

Market data comes from all over, with seemingly countless entities and organizations compiling the latest on mortgage rates, housing starts, home sales and jobs figures. This is both a positive and negative for industry professionals. On the one hand, agents and brokers have a bevy of resources at their disposal to educate them on local, regional and national market conditions. From NAR to Standard & Poor’s to Freddie Mac to CoreLogic, there’s certainly no shortage of in-depth industry information that comes to light each month. On the other hand, finding all of this data and discerning the important takeaways can be difficult.

Flip through the slides and you’ll find plenty of news to give you optimism about our industry:
http://www.slideshare.net/Placester/the-most-incredible-real-estate-stats-2014

Seth Price is director of sales and real estate marketing at Placester, a Cambridge, Mass.-based technology company specializing in building online marketing tools for the real estate industry.

Brokers say home buyers are back, but they’re choosy

Home buyers are back, and they’re savvy and selective, according to officials who commented on the latest statistics from Northwest Multiple Listing Service. For sellers, that means pricing a home correctly at the start is vital.

The new report summarizing October activity shows year-over-year gains in new listings, pending sales, closed sales and prices. Northwest MLS members reported 8,643 pending sales last month, which is up nearly 6.9 percent from twelve months ago when members reported 8,086 mutually accepted offers. Most of the increases are from sales of single family homes, which rose more than 7.8 percent while condo activity was flat with less than a 1 percent rise in sales.

Home sales stay strong, but prices approaching “affordability ceiling” for some buyers

Pending sales of homes around Western Washington surged more than 13 percent in September compared to a year ago, and listing activity picked up slightly, fueling both broker optimism and words of advice for sellers.

Along with increases in the number of mutually accepted offers, the latest report from Northwest Multiple Listing Service shows year-over-year gains in the number of closed sales (up 4.6 percent) and prices (up 2.5 percent). Inventory for its service area, which encompasses 21 counties in Western and Central Washington, declined slightly (just under 1.2 percent).

We expect the Greater Puget Sound real estate market will maintain a “healthy glow” in 2015 so long as there is no radical increase in interest rates.

Northwest MLS members reported 8,875 pending sales during September to outpace the year-ago total of 7,839 pendings. The volume tapered off about 5 percent from the August figure of 9,342 mutually accepted offers. All but one of the 21 counties served by the MLS reported year-over-year increases.

The number of closed sales for September also rose, climbing from 6,711 a year ago to 7,020 for a 4.6 percent increase. Prices on those sales were up 2.5 percent.

The median price on last month’s closed sales of single family homes and condominiums was $285,000, which compares to the year-ago figure of $278,000.

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