Beat the competition on the Bothell rambler for sale

If you have been looking for a really nice rambler in the Bothell area, I know of one that will be coming up very soon.  It's 3 bedrooms, with a family room and 2 full bathrooms/ 2 car garage, all appliances, and a great yard.  This will be available for under $350,000.  If you would like to beat the competition give me a call: 206-276-3289

Important information for people suffering from chronic illness' and foreclosure

This is a resource for people who have been foreclosed on or renters displaced by foreclosures. The program provides support to households that have experienced foreclosure within the last 24 months who also have a household member living with a chronic illness. The program is designed to assist those who have already been foreclosed on (or renters displaced by foreclosure). If you or someone you know could benefit please call Solid Ground’s Mortgage Counselors at 206-694-6766. This program is funded through the Washington State Office of the Attorney General’s National Mortgage Settlement. For eligible households, Lifelong Housing Safety Net provides financial assistance to help stabilize current housing as well as an array of support services focusing on future housing and financial stability. You can find this information on our website www.solid-ground.org or www.llaa.org.

What is appraised value

Appraised value:

The appraised value is basically what the bank thinks your home is worth. This can include everything from what neighborhood you live in, to how many fixtures you have in your kitchen. The appraised value tends to be unbiased, because the bank is not looking to bargain with you. They need an accurate assessment. It is very very rare that the appraised value of a home is the same as the market value. Why is this? Essentially the appraised value of your home is determined in order to justify the rate of the mortgage loan. This price is based on historical data and previous sales comparisons. That means sales of similar homes in the past six months. You may encounter some problems if there is a large gap between the appraised value of the home and purchase price being offered. For instance if a buyer decides that they absolutely must have a home and they are willing to pay for it, they mat be in for shock when they discover what the down payment is. If the purchase price is much higher they bank may determine that the apprised value of the home is not enough to cover the requested mortgage they will often raise the down payment. This situation may not emotionally deter the buyer, but, coming up with an extra 2 or 3% of the purchase can translate into thousands of dollars. And as we all know coming up with cold hard cash like that can be a real problem. Therefore, be aware of what similar appraised vales of home in your area are. This will lessen the shock of the purchase. Also, if you can afford the initial down payment you will end up paying less for the home in the long run, providing the bank gives you the mortgage rate that you wish. In this housing market that is quite possible.    

Mcmenamin's school in Bothell is now a historic spot:

http://www.heraldnet.com/article/20130522/NEWS01/705229902

Did you attend Anderson School in Bothell

The transformation of the historic Anderson Building into a McMenamins hotel and brewpub will be soon underway and McMenamins is collecting memories from those who attended or were employed by the Anderson School. If you have stories and memorabilia that you'd like to share, please contact the City of Bothell Historic Preservation Consultant, Brooke Best at (425) 486-8152 x. 4471 or brooke.best@ci.bothell.wa.us. Especially welcome are personal stories, photos and keepsake items such as yearbooks, play scripts, uniforms, report cards and letters. Original material does not necessarily need to be donated: McMenamins is happy to arrange for the copying/digital scanning of photos, documents and other items.

Construction on the Anderson Building and surrounding buildings is expected to start this summer.  McMenamins operates 57 venues in Washington and Oregon and plans to reuse the four existing buildings on the site as a destination resort in the Puget Sound area. The company plans to create a 70-room hotel including a restaurant, pub, movie theater, live music venue, spa, pool and meeting space. In the purchase agreement, Bothell residents receive free access to the pool and meeting space for 15 years. McMenamins plans to be open for business in the summer of 2014

Courtesy of City of Bothell- https://mail.google.com/mail/u/0/?shva=1#inbox/13eb370a54132d19

Northshore School District Changes

Northshore School District is building a new high school and reconfiguring grade levels:
http://www.nwnews.com/index.php?option=com_content&view=article&id=8039:new-school-and-grade-level-reconfiguration-could-ease-crowding&catid=34:news&Itemid=72

Great News for BotheHomeowners!

 

Families with Special Needs

Families With Special Needs

Tips for finding a friendly neighborhood for families with special needs

Moving to a new location can be exciting, adventurous and chaotic. From finding the best school and a new family doctor to making friends and neighbors, it can seem overwhelming. For a family with a physically challenged member, relocating can add more stress. John L. Scott agent, Judy Gratton offers the following recommendations for families with special needs to find the right home and neighborhood:

• As soon as you know or are seriously considering moving to a new city or state, begin your research. Look for neighborhoods that are special-needs friendly. Does it offer accessible transportation, recreation activities and entertainment options? Does it have sidewalks with cutout curbs, stores with easy parking spaces and safe play environments?
• For children, look for communities with universally accessible playgrounds, i.e. parks designed for people of all abilities. Make sure they have ramp access, play panels at ground level, and the correct surface for walkers and wheelchairs.  
• Interview school districts' special needs department and ask yourself: Can the school provide for your child’s needs? Does it offer a curriculum dedicated to ensuring such children with disabilities achieve full participation in their education? 
• Find and talk to families living in the community who have members with special needs to hear what they think about the community. 
• Ask your real estate agent to show you homes that have been previously owned by a family with special needs or ones easily reconfigured or expanded. Homes need to be accessible to allow family members to do what he or she needs and desires to do as independently as possible. Look for ramping entrances, wide doorways, low counters, lever or loop-style grab bars and a tub seat in bathrooms, and hardware on doors and drawers. 
• Know there is additional help for families with special needs, such as tax deductions for any home modifications, plus funding from local Kiwanis and Rotary Clubs, as well as the Paralyzed Veterans Association.

I am the proud parent of a 21 year old young man  with special needs.  As a Realtor, this is information and knowledge that I can bring to you as my client.  Please feel free to give me a call.

206-276-3289

You MUST get pre-approved in this market!

Pre-Approved Mortgage Loan

House hunting? Be prepared with a pre-approved mortgage loan. 

Most homebuyers miss out on one of the most important steps in the home buying process. No matter what type of real estate market, the experts at John L. Scott, including top agent, Judy Gratton suggest it’s a good idea to be pre-approved for a mortgage loan before the house hunting begins.

A pre-approved mortgage loan is a lender's actual commitment to lend to the homebuyer, with specifications on the exact loan amount. To become pre-approved, consumers must provide personal financial information, such as income, debts and assets, to an underwriter. After a homebuyer applies for the loan, the lender will most likely approve the application with certain caveats. As the lender is committing to the loan amount and interest rate up front, the buyer knows they have their financing in place before begin shopping for a home. Advantages of having a pre-approved mortgage loan include:

Establishing an advantage in a competitive market. A pre-approval letter gives the homebuyer an edge in a multi-offer situation. Sellers prefer working with potential buyers who are pre-approved; they do not want a deal to fall through because the purchaser cannot get sufficient financing. An offer with a mortgage pre-approval letter carries far more weight than an offer with only a pre-qualification letter or no letter at all. In fact, sellers often accept offers of lower dollar amounts from pre-approved buyers over buyers who have not been, despite higher offers. With pre-approval, the home sellers are more confident the deal will go smoothly.

Finding the best possible type of loan. Working with a mortgage agent before looking at houses gives the homebuyer plenty of time to decide what category of mortgage product works best for his or her financial goals. Once the buyer decides on the kind of loan he or she wants and has been pre-approved for it, the homebuyer can then focus on finding their dream home.

Establishing the price range. Getting pre-approved for a mortgage enables the homebuyer to determine, prior to house hunting, how much money he or she qualifies for, thereby establishing a price range. The real estate sales associate and homebuyer can then focus on looking at appropriate homes.

Seeking comfort with the loan amount. By taking the time to seek pre-approval, the homebuyer selects a comfortable loan amount. In many cases, buyers may qualify for mortgages that are more expensive than what they feel comfortable committing to for the long-term, merely because it works on paper. It is important for a buyer to purchase a home they can afford!

Once you  are pre-approved give Judy a call.  206-276-3289

Your Real Estate Edge Real Estate "Word of the Day"

Real Estate Word of the Day "Deed"

A deed is the document that transfers ownership of real estate. It contains the names of the old and new owners and a legal description of the property, and is signed by the person transferring the property. You can't transfer real estate without having something in writing, which is almost always a deed. It may be recorded in the county where the property is located, but it doesn't have to to be legal.
There are a variety of deeds that convey more of less of a guarantee of ownership of title. The least secure deed is the "Quit Claim Deed". It is a deed that transfers whatever ownership interest the transferor has in a particular property without guarantee about what is being transferred. This is the type of deed that is frequently used in a divorce when either party transfers ownership to the other party as part of the settlement.
Quitclaim deeds are also frequently used when there is a "cloud" on title -- that is, when a search reveals that a previous owner or some other individual, like the heir of a previous owner, may have some claim to the property. The individual can sign a quitclaim deed to transfer any remaining interest.
Next in line is the Bargain and Sale Deed. A deed that conveys title to real property but does not guarantee clear title. It is often used by court officials who are only holding title by force of law IE. courthouse sale of foreclosed property.
A Warranty deed transfers ownership and explicitly promises the buyer that the transferor has good title to the property, meaning it is free of liens or claims of ownership. The transferor guarantees that he or she will compensate the buyer if that turns out to be wrong. The warranty deed may make other promises as well, to address particular problems with the transaction.
These are the most popular deeds seen in Washington State. There are others. When you are purchasing a piece of property you should familiarize yourself with the type of deed you will be receiving and make sure that you understand the warranties if any that it implies.