Linda Bagley's Discussions

MyCastleYourCastle,The best place to get the info regarding your tax assesment is at the King County Tax Assessors office - Link below:http://www.kingcounty.gov/Assessor.aspxhttp://www.kingcounty.gov/Assessor/ValueDisputes.aspxLot's of factors will determine if your Tax will adjust up or down. Some areas will go up, while some may go down. Some will depend on how may foreclosures in the local area, how many homes have sold and for what price.  An agent familiar with your market area can give you some information as to the neighboring tax assessed values to see how they compare to your, but ultimately the assessed values of your home will determine your tax.  You can fill out the online application to dispute your tax if you feel your taxes are too high.  I beleive the new Tax reports are released February 15th.Hope this will help.Best,Linda

Reba,All good points, however from resent expexience in several closings for multiple different types of lenders--- They are being very picky. Even conventional lenders are requiring decks be repaired, there are not holes in the walls, electrical plates are on etc.It may save your seller money in the long run to have his own inspection done and take care of the critical items.  Especially the ones an appraiser will call out. Remember that the lenders can and may call for the inspection response and in this market it is not likely the buyers will waive inspections easily.Good luck! 

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Hi Shivav,Let me try to answer your specific questions and I will probably go over the text limit, so this will be in two postings.Posting One:There are a lot of excellent builders on the Eastside. With any builder you need to make sure the builder has a good portion of his development sold, that all sub-contractors have been paid and there are no leins on any homes in the development.  Builders have had a very difficult time in this economy.Resale homes versus New Construction. There are some incredible new construction prices out there, depending on your price point, depending on the lot size.  Prices are very negotiable, builders need to sell, so they are offering many incentives, such as buying down your interest rate, paying closing costs etc. Buy NOW!  There is no reason to wait. Interest rates are excellent and there is a lot of real estate inventory on the market. Many homes at great prices to choose from and a good agent can help you negotiate the best price.What to look for in a new home partially depends on what you want in a home and a good investment for future resale. For instance a 2 bedroom, 1 bath home may not be a good choice for long term investment. Also, I may get shot here, but Split Entry homes are dificult to resale and do not typically hold their value. We would probally want to negotiate seller paid closing costs.Cont.

Cont. Posting one:Financing, before you begin the home search process you will need to get pre-approved thru a good lender and I would certainly have some excellent referrals for you if you have not had a GOOD referral. Your lender will talk to you about the different loan options, down payment options, etc. We would need a crystal ball to know exactly when the real Estate market will bounce back, however that being said, I would expect when home buyers start buying the market will improve, job market will improve and so on. It is my opinion the when the home sales improve, economy will return to "normal". Will it be the same as in the past several years, probably not for some time. I also anticipate when the current new contruction inventory sells through, resale home price will go up.  New home construction permits are way down, so there will fewer new homes over the next 3 or so years.New homes, while the builder is important, so is location, construction quality etc. Make sure you have a home inspection regardless of whether it is new construction, or a resale.  Honestly, I really think you need to work with a good agent. They will look at the market in the area, help you with the best locations for return on value. Frankly, there are many sellers still out there the have homes over valued and an agent can be the in between person to help you get the best price. Equally there are sellers that have very good prices,, however the most recent comparable sales will result in them needing to lower there prices as well.   Feel free to email me if I can answer additional questions-Best regards,Linda Bagley 

Patrick,I am kind of late getting into the Q&A, however have to go back to the lender issues. Regardless whether the work is major or not, whether it is FHA or Conventional lending, "IF" inspection issues are included with the contract, the lender can ask for them to be done. If the home appraises way over offer price, your lender may still require the work be complete before they will fund the loan. I have closed several different transactions over the last 4 months and everyone required items from the appraisal and the inspections be completed before funding. I would be interested in a follow-up to see how it turns out.Just another view.Best of luck, 

[content removed by moderator for being self promotional]Hello Perks21,I have forwarded your inquiry over to Kevin with America One, my prefered Mortgage broker lender etc for all my clients. He is brilliant and will have excellent advice for you.Yes, I am partial because he is also my partner and husband of 37 years.Best,Linda