Federal Way, WA Real Estate News

By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Yes, here we are!  From my Grandma down to my Granddaughter - 5 generations, this was quite a moment as you might expect. My Gram passed this last year, but she certainly would have been thrilled that I took my 31 years of experience in real estate and opened Booth Escrow, LLC. You see, she loved small business.  My mother owned her own small business in Silverdale, Washington while I was growing up and my Gram worked for Mom as her receptionist for many years.  It was during this time that she got her driver's license and became a truly independent woman. Yes, she loved small business.  I thought that working for large corporations was the way to go - you know the benefits packages and paid vacations.  Who could argue with that?  Well this economy has allowed me to dive in and take my ...
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By Debi Braulik, Selling Maple Valley to Fife WA Homes For Sale
(www.roundrealestate.com)
In Federal Way, WA there were 59 home sales in October 2009. Here are the averages- The average square footage was 1844. The average $ per square foot was $142.93. The average days on market is 117. The average original list price was $268,869. The average list price at contract was $254,514. The average sold price was $249,583. The average sale price to list price percentage was 98.06%. The lowest sales price was $110,000 and the highest sales price was $470,000. There are currently 368 active listings (homes on the market without contracts) in Federal Way.  Of these, 249 are listed at $350,000 or less. The minimum list price is $59,900 and the maximum list price is $1,690,000. Based on the current active listings, if no new homes came on the market, it would take over 6 months for the...
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By Debi Braulik, Selling Maple Valley to Fife WA Homes For Sale
(www.roundrealestate.com)
In Federal Way, WA there were 64 home sales in October 2009. Here are the averages- The average square footage was 1896. The average $ per square foot was $146.36. The average days on market is 128. The average original list price was $280,705. The average list price at contract was $263,778. The average sold price was $259,185. The average sale price to list price percentage was 98.26%. The lowest sales price was $140000 and the highest sales price was $550,000. The days on market number would have been better but there was one home that sold that was on the market 1122 consecutive days! Ouch! Who want their home on the market that long? Even if they did end up getting 94% of their list price.   If you are interested in buying or selling a home in Federal Way, feel free to contact me b...
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By Julianna Hind, REALTOR, 206-679-4768, Tacoma Federal Way, Auburn, Kent, WA
(eXp Realty)
Searching for Homes for Sale in Federal Way Washington is easy! Call 206-679-4768 for a tour! Find Homes QUICK LINKS: Federal Way Real Estate Listing Mortgage Rates Refinancing Federal Way Foreclosures Mortgage Calculators Purchase Loans
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
As I was getting ready for work on Tuesday, I glanced out the window and was lucky enough to catch this rainbow as it was gathering strength. I have read a number of blogs about the expensive real estate in the Puget Sound area, but you cannot deny the beauty provided throughout the Great Pacific Northwest. The land just to the left of this rainbow is Vashon Island. Too beautiful not to share!  Enjoy your Friday. Julie
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By Julianna Hind, REALTOR, 206-679-4768, Tacoma Federal Way, Auburn, Kent, WA
(eXp Realty)
Agree or Disagree, Tax credits are put in place to stimulate the economy. I personally would rather see this type of rescue than huge corporate bailouts. I do believe this will help a few people planning to close during around the thanksgiving holidays cause to sleep better. Homeowners moving up the property ladder recieve a credit too.  Read about the Tax Credit Extension Here Stay tuned...
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By Julianna Hind, REALTOR, 206-679-4768, Tacoma Federal Way, Auburn, Kent, WA
(eXp Realty)
Will homeowners in the Tacoma and Federal Way area be able to reap the benefits of the Tax Credit when they move up? The US Senate is still in negotiations regarding a proposal to extend the $8000 First Time Home Buyer Tax Credit which is set to expire on December 1st. The current details reduce the credit by about $610 ... from $8000k to 10 percent of the sales price or at the $7,290 cap. The plan may also extend tax credit to existing homeowners looking to move-up. This would open up a large resource of new buyers with established credit and put them into larger homes, freeing up their homes for more first time buyers who may qualify, but are finding a lack of starter homes available. Colleagues and clients of mine are still pushing to close by November 30th. There are some builders w...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Does anybody love fishing as much as my boyfriend?  That is doubtful.  On the plus side, I love boating and he loves to filet and cook his fish.  It is the best food I have ever eaten.  Until John & I met, I really didn't like fish that much - you know all those bones makes it hard to enjoy a bite of food, right?  No bones!  In the 3 years since we have been dating, not one.   Yaaaa, this is turning out to be a successful relationship.  We are located in the Redondo area of Federal Way and enjoy beautiful views of Vashon Island and the Puget Sound.  On a recent fishing trip up in the San Juan Islands, I learned that one indicator of good fishing is to check and see what the birds are doing, if there are alot of birds, then there might be alot of fish.  As we were running between the isl...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Agents, here is a tip you can give your sellers for additional cash back after the closing of your sale:  Remind them to cancel their homeowners insurance after their transaction is recorded and funded.  In Washington State, we record & fund the same day in most cases, so the sellers can contact their homeowners insurance company the next business day and have their policy stopped.  Most insurance companies will pro-rate the unused premiums and return those funds directly to the seller. The seller will thank you for the reminder! Of course, if your property is a short sale, most short sale lenders will require that any refund be payable to the lender.   The details matter, so be careful that the sellers do not accept a refund in these circumstances. Julie  
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Have you wondered what Escrow is and what does "It" do?  The term "escrow" is used in different contexts, but really isn't as mysterious as it sounds.  Escrow is simply a neutral third party. You might hear the term "escrow" in conjunction with a reserve account for taxes and insurance that a lender is paying for on behalf of their customer or the term "escrow" in conjunction with a collection of a Promissory Note. Whether you are buying or selling property, your real estate agent may suggest an escrow agent to handle the closing of your transaction. So what is escrow all about? Escrow is started at the point a signed around copy of the Purchase & Sale Agreement is provided to them.  This document does require all buyers and sellers signatures on it and is to include the   complete lega...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
What do you look for in your Escrow Officer?  Your closing agent should be experienced, but not insensitive to what the buyer and or seller is experiencing.  This is one of the biggest moments in their lives and your closing agent can help alleviate that feeling by talking with the customers in advance of closing and taking "the mystery" out of the process. Your customers will be calmer and clearer when they know what to expect during the escrow transaction. Of course, your closing agent needs to be focused on meeting the deadlines of the transaction and if they clash (such as the closing date on your purchase agreement and the deadline on the short sale instructions), then can you expect a phone call requesting an addendum? Your closer should know the importance of working with title t...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
This is your opportunity to expand the Home Buyers Tax Credit. I received this article just this morning and I wanted to share it right away so that you can help make a difference. Julie Urge Congress and President Obama to Support $15,000 Home Buyer Tax Credit Take Action!     Dear ALTA Grassroots Advocate, ALTA issued a Grassroots Action Alert last month asking you to write Congress and the President to urge support for a $15,000 unrestricted tax credit.  We think the credit would pull a lot of money off the sidelines to work through excess housing inventory, which is an essential first step to broader economic recovery.  We still need to make our voice heard, which means that it is in the interest of everyone employed by the title industry to take a couple of minutes to fill out a si...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Do you hear that?  No?  Perfect!  Your buyers and or sellers are not calling you over and over again to see if you have heard anything from Escrow?  Why?  It is because I have already contact them to see if they are interested in a Pre Closing, Closing.  There are so many new people buying and selling properties, that it only makes sense to see if they want to go over the process of their closing early. Imagine...A Pre Closing appointment with escrow. I will be contacting you first to confirm that you are in the loop of the discussions, if you would like to be and then I will be contacting the customer to go over the process. Here are a few of the things that will help take the mystery out of "closing": What is closing?  Isn't that when we sign papers?  No, not in this state.  In the gr...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Yesterday I noticed a problem sending and receiving emails, about one half hour into my day.  I did what I was taught to do, when in doubt "reboot"! That action allowed the one email to go out and then I noticed other problems, i.e., unable to log into a non-web program and documents not scanning to the computer. So who do you call first when you have computer problems?  I called the company that owned the program first, then the copy/scanner company next, then the internet company next and then the company that provides my internet ISP Address.  After hours of discussions, I broke down and called my per hour IT guy.  He figured out that it was a computer issue and so we then called Dell.  Dell was right on it and as I am typing, a new mother board is being installed on my other, brand ...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Are you ready for your labor day weekend?  I sure am - I have my Bumbershoot ticket in one hand and my Bumbershoot (umbrella) in the other, ready to celebrate with tens of thousands of other enthusiastic performing arts fans.  Seattle has had the nicest summer that I can remember, however mother nature is coming back this week and will be enhancing our green lands with additional rain.   (Active Rain came by their name very naturally) Have a fabulous Holiday!
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
After being out of the business for a few months, I come back to much the same atmosphere that I left it:  Lots and lots of short sales with new FHA financing. My first deal right out of the shoot was such a transaction and the loan officer was looking for her signed around Amendatory Clause before she could order loan documents.   I asked her if this was a new FHA requirement and she said it was.  No problem, my people are all dialed in with the internet and it didn't take long, but I was just so surprised. A couple days later, the same type of transaction, but with a different lender so I asked this loan officer if she had her Amendatory Clause all signed off and she sounded surprised as this is always done with the other loan documents. OK, how do these things happen?  If we are comp...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
Wouldn't it be grand if all deadlines were equal?  They are not equal in real estate, however.   When an underlying lender gives approval for a short sale and sets a date that that all funds and documents need to reach them, this is not your new closing date on the Purchase & Sale Agreement. Noooo, it is not. The closing date on your Purchase & Sale Agreement should be at least 2 business days prior to the payoff lenders drop dead date.  Want to know more about the process? Great!  First escrow needs to have received collected funds from both buyer and the new lender in the State of Washington before the documents head to the courthouse.   Once we have recording numbers from the County, then funds can be released. Aren't funds always released the day of recording?  Yes, they are UNLESS ...
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By Julie Booth, Keeping the parties informed of the escrow process
(Fidelity National Title)
TILA is on my mind.  Is everyone clear about the difference between TILA and the new RESPA requirements coming up?
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By Dorothy M. Le, Federal Way Homes
(Washington Square Realty, Inc.)
Federal Way homes are selling.  So far in July 50 homes have closed and 102 are pending sales.  Yes, most sales are of the lower priced homes with the average prices about $275K.  But there are a few higher priced homes selling,  I just sold a large view home for $600K in Redondo. 
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By Debi Braulik, Selling Maple Valley to Fife WA Homes For Sale
(www.roundrealestate.com)
Fill out this form and I will send you a free list of foreclosures, bank owned homes, short sales, or other great deals in Federal Way, Edgewood, Milton, or any city you request! Each list is personalized and created from the MLS when it is requested. Tacoma has over 600 homes that are bank owned, short sales, and under $200,000 so if you are interested in Tacoma, you will have to include a neighborhood (ie- Stadium District, Central Tacoma, UPS area) or geographical boundaries (Between North 6th and 12th) to narrow the search down. Fill out my Wufoo form!
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