Puget Sound Properties & Lifestyle

  3 Things That Will Ruin Your Scheduled Home Closing Closing on a home is an exciting milestone, but it can quickly become a nightmare if certain pitfalls are not avoided. To ensure a smooth and timely closing, you should be aware of these three critical issues that can derail the process: depositing closing funds at the last minute, missing a bank wire deadline, and accepting fraudulent instructions. 1. Depositing Closing Funds Last Minute One of the most significant mistakes you can make is waiting until the last minute to deposit or transfer your closing funds. Closing funds typically include the down payment and other associated costs, and these funds need to be cleared and verified by the bank before the closing can proceed. Oftentimes, people will leave funds in an investment account or 401K, and not do the appropriate homework on when and how those funds can be transferred and released. Why It Matters:  Banks often have specific hold times for large deposits, especiall...

  Offer Strategies That Work - Part II In the world of buying real estate, knowing what to offer on a home can be, one of the most anxiety filled decisions of the process. Am I getting a deal?    Am I paying too much?    Will the seller be interested in my offer?    Are their other offers?    How much are the other offers?    What can I do to set my offer apart from other offers?  The number of questions swirling around your head as a buyer (and real estate agent) can be overwhelming, especially when you’re ready to buy a home.  If you’re in the market, everyone is looking for a deal. But if you’ve been paying attention over the last few years, sellers have held the upper hand in real estate because we don’t have enough homes to sell for various reasons. Limited inventory keeps prices elevated. Buyers who’ve chosen to wait out this cycle may wait a very long time. And because there’s pent up demand that has been building f...

  Making an Assumption is Never Good…Until Now In today’s world of real estate, it’s tough paying higher prices for both homes and interest rates. We were in a low-cost interest rate environment for so long, it almost feels criminal to pay more than 7% to borrow money, but this is today’s inflationary world. What most people don’t know, is that some mortgages are completely assumable…meaning you can take over the current homeowners mortgage which includes a likely far lower interest rate. But, there are several things to consider before making this plan a reality. If you're looking for a home in Tacoma or the Pacific Northwest, it's an important option to consider.   Only FHA and VA loans can be assumable, because they are government backed. Conventional loans are generally not assumable because they have a due on sale clause, meaning the owner must pay the balance in full upon sale of the property. Because FHA loans are likely more common in lower priced homes, it can be...

  What on Earth is an LID? As a community based solution to a neighborhood opportunity, there exists a framework often overlooked but immensely powerful in its ability to foster growth and development: Local Improvement Districts (LIDs). These entities, while varying in structure and function across different regions, share a common goal—to enhance the quality of life within their areas. Through targeted initiatives and collaborative efforts, LIDs serve as catalysts for positive change, driving progress from the grassroots level up.   Just recently, our Tacoma neighborhood agreed to a new LID for the install of sanitary sewer to replace outdated septic. Though some homeowners feel more empowered to manage their own wastewater needs through septic, sanitary sewer helps recapture lost water. The average American family of four uses 400 gallons of water per day. A pproximately 70 percent of that water is used indoors versus landscaping usage. At their core, LIDs are mechanis...