Port Angeles Real Estate & Sequim Real Estate Blog

Sequim Real Estate News on New Blog

2008-09-06T06:53:00.001-07:00

This site has been upgraded to a new more powerful site, which you can bookmark by going to:

http://sequim-real-estate-blog.com/

You'll see our entire archive of articles on the new site, and you can subscribe to the weekly email newsletter at the new site to keep informed about Sequim and Port Angeles real estate, prices, market data, foreclosures, and much more.

Continuing to serve you without cost, I remain yours truly,
Chuck Marunde, J.D.
Broker/Owner/Realtor
Sequim & Port Angeles Real Estate, LLC

Sequim Water View Lots

2008-08-16T18:19:00.000-07:00

Sequim Water View lots in prestigious Bell Gates, 4 lots available.

Port Angeles Water View and Mountain View 3 Story Home

2008-08-13T07:00:00.000-07:00

Port Angeles Water View and Mountain View 3 Story Home, 1117 W. 11th, $569,900. For a showing email chuckmarunde@gmail.com or call 360.775.5424.

Port Angeles Home Plus Large Shop for Sale

2008-08-13T06:54:00.000-07:00

Port Angeles Home with Large Shop for Sale, 259 Hunt Road, $425,000. For a showing email chuckmarunde@gmail.com or call 360.775.5424.

Port Angeles Freshwater Bay Cedar Home on 5 Acres

2008-08-12T22:42:00.000-07:00

Port Angeles Freshwater Bay gorgeous cedar home on 5 acres $298,000, 92 Lawrence Pointe Road. For a showing, email Chuck Marunde at chuckmarunde@gmail.com or call 360.775.5424.

Port Angeles Foreclosures

2008-07-23T23:04:00.000-07:00

I have clients and others calling me and saying, "We are in the market to purchase a 3 bedroom, 2 bath home in a nice area. Is it true we can get a good deal on a foreclosure?"

Almost everyone knows someone who has a friend who bought a home out of foreclosure and immediately picked up $100,000 in equity. Right? And everyone is talking about all the foreclosures around the country. So why not buy one?

Trying to find a good home in a nice area at a steal of a price is a bit like searching for a needle in a haystack. Believe me, it is very time consuming to do your due diligence on all the possible pre-foreclosure and foreclosure homes, then to narrow it down to the few possible good deals, then to find the owners and try to cut a deal. Many of those owners are still trying to save their home from foreclosure, and some will get a loan to reinstate, or work out a forebearance with their bank, or sell their property to someone else at a reasonable discount, but not a discount of $100,000.

I have written several articles on foreclosures for your reading pleasure:

Sequim Real Estate Foreclosures
Sequim and Port Angeles Foreclosure Help
Foreclosure Properties For Sale in Sequim and Port Angeles
Foreclosures in Sequim and Port Angeles
Short Sales and Foreclosures
Foreclosure Opportunities for Investors

If you find a home that is in either pre-foreclosure or the Trustee Sale date is coming up, and you have all cash to bid on it (you have to have a cashier's check at the sale), you are welcome to use me as a resource. Having done many foreclosures as an attorney, I may know something that could be helpful to you. Anything I know or have learned is yours for the asking.

Sequim and Port Angeles Real Estate Secrets

2008-07-19T10:55:00.000-07:00

Articles worth reading on Sequim and Port Angeles Real Estate for Buyers and Sellers:

Courtesy of Chuck Marunde, J.D.

Sequim Homes For Sale - Search

2008-07-03T12:54:00.000-07:00

Search Sequim homes for sale at your online MLS search: Search MLS Listings.

Brought to you courtesy of Sequim & Port Angeles Real Estate, LLC.

Sequim Real Estate Market in Trouble

2008-06-29T09:54:00.000-07:00

The Sequim real estate market and the Port Angeles real estate market are hurting badly. The real estate market and the American economy have taken some pretty good hits for quite a while now, but these things are cyclical and happen all the time in our history. The big news here is that this slowdown has taken on new meaning as time drags on without recovery. Having a headache for a few hours or even a couple of days is a pain, but when the headache doesn’t go away for months, it brings entirely new health implications that are deep and wide.

Read the full article at Marunde Blog.

We Upgraded

2008-06-26T17:04:00.000-07:00

News Release

We have upgraded our Sequim Real Estate Blogging platform from great and content-rich to more power, more navigable, and more useful.

The new blog is located at:

http://sequim-real-estate-blog.com/

You will still find this blog here, and it will still have all the archived articles intact, but the new blog also will have the archives, so be sure to update to the new blog.

Working hard to give you the best of cutting edge real estate news and information, I remain yours truly,

Chuck Marunde, J.D.
Broker/Owner/Realtor

Sequim Lots Sold

2008-06-21T00:18:00.000-07:00

Sequim lots sold for the first 5 months of 2007 compared to 2008 will tell us something about out-of-state buyers and the comparative pace of new home construction. Here's what the first five months of 2007 looked like for lots sold in the Sequim area.

List Price
Sold Price:

DOM:

HIGH	LOW	AVERAGE	MEDIAN	LOTS SOLD
$2,700,000	$50,000	$205,816	$134,999
$2,700,000	$44,000	$197,901	$133,500	68
574	0	135	120

And here's what the first 5 months of 2008 look like in Sequim lot sales.

List Price:

Sold Price:

DOM:

HIGH	LOW	AVERAGE	MEDIAN	LOTS SOLD
$950,000	$59,900	$190,636	$139,500
$860,000	$50,000	$172,034	$135,000	49
675	0	147	79

When you compare DOM, the number of days the lots were on the market until they sold, and the average listing and selling prices, there isn't much of a difference this year, except in the number of total lots sold, 49 this year verses 68 the first 5 months of last year. Interesting.

Courtesy Sequim & Port Angeles Real Estate, LLC

Sequim Market Dependent Upon California Market

2008-06-20T07:42:00.000-07:00

The Sequim real estate market (and Port Angeles' market) is heavily dependent upon markets in other states, including California and Arizona. Signs of improvement in California's real estate market bodes well for sellers here. I would estimate that more than 50% of our home and land buyers for the Sequim area come from outside the area (CA, AZ, TX, CO, and Seattle).

The quarterly UCLA Anderson Forecast said foreclosure rates will remain a significant problem in the state [of California] at least through the end of 2008 and into 2009, economist Ryan Ratcliff wrote in one section of the overall economic forecast. But "we may be transitioning from the free fall" of widespread foreclosures that drive down home values and prompt more foreclosures.

Ratcliff said the fact that home sales in some Bay Area and Southern California counties have increased from year-ago levels just recently is "an encouraging first sign of a market starting to find its new equilibrium." [Read full article.]

Lost Gatos, California may be seeing signs of strength. "A look at the single family home situation in the town of Los Gatos reveals an improvement over recent months." [Read full article.] Sacramento is seeing sings of improvement [Read full article] as well as Santa Barbara [Read full article.]

Arizona is seeing signs of strength.

“Investment interest is being driven by the anticipation that home prices will rise again in the next few years,” said Butler. “The lower median price is being impacted by several forces, including the large number of vacant homes, especially in certain neighborhoods. Further, capital is available for lower-priced housing, but lacking in the higher priced housing market.” [Read full article.]

The Seattle market is also showing positive signs for buyers, and not so negative news for sellers.

“Despite national reports which suggest that no homes are being sold, a sales rate of nearly 98,000 units (statewide) is similar to the number of sales that prevailed 10 years ago,” a statement accompanying the report said. Although Washington’s year-to-year sales drop was a bit bigger than the nationwide decline, “the state’s markets remained more robust than many areas in the West.” [From the Seattle PI, Read Source here.]

What does this mean for the Sequim and Port Angeles market? It means when markets improve in these areas, sales here get a strong push. If you're a seller, position yourself to connect with these buyers when they're ready to move.

Sequim Real Estate Homes For Sale

2008-06-18T07:42:00.001-07:00

Finding a Sequim home for sale in the price range of $200,000 to $250,000 is very difficult. It's been hard to find what most clients are looking for in that price range. But here is a complete list of the 31 Sequim homes for sale in this price range.

Sequim homes for sale $200,000 to $250,000:
Click Here to View Listings

There are 66 Sequim homes for sale in the price range of $250,000 to $300,000, and here is the list:
Click Here to View Listings

You can also search the Entire Sequim MLS here.

Courtesy Chuck Marunde, J.D. and Sequim & Port Angeles Real Estate, LLC.

Negotiating Prices for Sequim Real Estate and Port Angeles Real Estate

2008-06-17T07:16:00.000-07:00

Buying or selling Sequim real estate or Port Angeles real estate? How you negotiate can mean $10,000 more or less in your pocket when the dust settles. Imagine two card players. One has spent a lifetime learning how to play cards, has become an expert on mathematics and statistical calculations, on human behavior and psychology, and has studied and practiced for decades. The other is a school teacher, a good and honest person, who has taught 3rd grade for 22 years, but has never played cards, and has had no interest in the technical skills required to be a good card player.

Both enter a national card playing tournament. Who would you bet on? Who would win the majority of card games? So why would anyone with virtually no experience negotiating the purchase or sale of expensive houses, gamble when they buy or sell their own house? One might argue, "Well, I've sold two houses in my life." Buying or selling one or two houses does not a lifetime of experience make.

Don't lose money negotiating your hard earned investment. If I seem passionate about this subject, it is because I am. I've seen people lose a lot of money simply because they assumed they could do what it has taken others a lifetime to learn. Assuming is gambling.

Read more about negotiating the best price at Sequim Real Estate - Negotiating for $1,000's.

Courtesy Sequim & Port Angeles Real Estate, LLC

Home Builders and Low Ball Estimates

2008-06-11T06:35:00.000-07:00

Are Sequim home builders and Port Angeles home builders all the same? What about the low ball prices listed in advertisements? Can a builder really build a home at the same prices that were being quoted a decade ago?

This raises another question. How can the average person who wants to have a home built tell if a contractor is telling him the truth about the costs associated with building a new home? And how does a person distinguish between good builders with integrity and honesty from builders who practice dishonesty and false advertising?

As a real estate attorney I saw many clients who were in nightmare scenarios with bad builders. It is much more common than people realize. I talk to people regularly who have had horrible experiences with their builder. I recently called the Washington State attorney general's office, and they told me they don't handle such issues, that I should call the Department of Labor & Industries. I called L&I, and they said they don't have jurisdiction, that I should call the attorney general's office.

No one wants to touch this issue, but where is consumer protection when you need it? Literally 100's of innocent victims are getting hurt in the State of Washington, and the state rule is, "caveat emptor," or "buyer beware."

I will attempt to address this issue with public education in several ways:

Writing articles about how to find and interview a builder;
What questions to ask a builder;
How to compare apples with apples when interviewing more than one builder; and
How to research a builder today with powerful Internet tools.

We'll start with these articles, and we'll be adding much more, so check back from time to time. You can also email me at chuckmarunde@gmail.com.

Hiring a Building Contractor
Elderly Couple Get Ripped Off
Building Your Sequim or Port Angeles Home
Having a Home Built? Beware

Courtesy Sequim & Port Angeles Real Estate, LLC

Port of Port Angeles - Ships Under the Setting Sun

2008-06-08T20:01:00.000-07:00

The Port of Port Angeles with ships under the setting sun. Photo by Chuck Marunde taken 6/7/08.

Bristol Marunde Wins Fight at Emerald Queen Casino June 7th

2008-06-08T08:06:00.001-07:00

Bristol Marunde of Sequim dominated his opponent, Will Courchaine, at the Emerald Queen Casino June 7, 2008 in another MMA (mixed martial arts) battle. The fight ended at the close of the first round (4:51) when Bristol submitted his opponent with a Kimura arm lock.

The fight began with Courchaine trying to slug it out with Bristol with powerful strikes to the head, but Bristol's defenses held up well. An early punch caught Bristol on the side of the head, but Bristol remained calm.

Bristol controlled the fight, and when Courchaine tried to kick, Bristol took him down and dominated him with strikes to the head and stomach in a north-south position. The fight ended quickly when Bristol locked his opponent's arm in a painful Kimura.

Bristol's game is better than ever. He's deadly not only in his standup, but his technique in submissions has cobra-like effectiveness. You don't want to get tied up with Bristol. His unusual strength and speed combined with his technique are paying off in the ring.

After the fight, Bristol reflected, "I felt really good, totally calm throughout this fight, and I had a really great corner helping me. God is good."

For more photos of Bristol's fight, go to Northwest FightScene.

Sequim Real Estate Prices

2008-06-07T17:29:00.000-07:00

Sequim real estate prices are reasonable but not as low as some areas of the Midwest United States. I often receive email requests or telephone requests for a stick built home with 3 bedrooms, 2 baths, and a garage under $125,000. The average price of homes sold in Sequim in the first five months of this year was $324,450.

I've talked with many builders in the area, and they all express the same sentiment. They cannot build a home and sell it for less than $279,000, and with a few upgrades most people want in their homes, that boosts the price of a new home to above $300,000. That's pretty much rock bottom pricing.

Most new homes, including the price of the land, site preparation, and home construction are $350,000 to $450,000. A significant number of retirees to the area are spending a total of $550,000 to $750,000 on land and construction. Those are not even luxury homes. Luxury homes are much higher.

You can find an older stick built home for less, but you can't replace it today at that price. Homes that are inhabitable and listed under $225,000 are gone. In a heartbeat.

Here is some real data in the form of listings that you can view in the Sequim market for homes priced under $200,000. In fact, here is a complete list as of this date of all homes listed for sale in Sequim for $200,000 and under. There are only seven, and you can click on this link and view these listings. There maybe one in here that is ideal for you, and if there is, you can email me or call me. I'd be glad to either get you more information or show you this house at your convenience.

These listings are best viewed in Internet Explorer, so if you are using Firefox, click on the link below but then switch to Internet Explorer if all your images are not showing correctly.

Click Here to View Listings

Courtesy Chuck Marunde and Sequim & Port Angeles Real Estate, LLC

Searching the Sequim MLS and Port Angeles MLS v. NWMLS

2008-06-05T23:49:00.000-07:00

The Sequim MLS and Port Angeles MLS consists of the Olympic Listing Service (OLS) and for some the Northwest Multiple Listing Service (NWMLS). All local brokers and agents are members of the OLS, but not all are members of the NWMLS.

I've been meditating on this issue in light of the great conflict that stirs quietly behind the scenes among brokers. Mediation is a good thing. It reduces stress and sometimes gives us answers that seem to drop down out of the heavens.

While I was meditating on the relative merits of these two competing listing services, I had a revelation, and suddenly something hit me on the head pretty good. I thought God's messenger had miraculously tapped me with wisdom. When I got up, I realized it was just the book on my computer monitor that fell. Fortunately, my head cushioned its fall. Unfortunately, my revelation probably found its roots in terra firma rather than the heavens.

By now, you're probably thinking, "So, what is the revelation?" Perhaps it's more of a reflection, rather than a revelation. Okay, here it is. Since us local agents are all members of the OLS but not all members of the NWMLS, that makes the NWMLS pretty much useless. Let me explain.

When an agent does a search of the listing database of all homes and land for sale in Sequim and Port Angeles, he needs a complete database. If the database is incomplete, he cannot expect to pull together a decent set of comps to determine price or make accurate comparisons. Since not all local brokers are members of the NWMLS, that database is incomplete, and any data used to arrive at price comparisons will also be less than complete.

Some brokers or agents like to make the argument that having a listing in both systems gets exposure to Seattle side agents and buyers, but no agent I know in Sequim or Port Angeles has been able to tell me that they have sold a listed property that way. Local agents use the OLS, not the NWMLS to search for local properties and to email clients reports.

I have used both listing services, and there's no question at all which is better--it is the NWMLS. The NWMLS has much better technology, and it has much better content with the statewide forms. Unfortunately, because many brokers refuse to be part of the NWMLS but all are members of the OLS, that means only the OLS is a complete database. Why don't all agents and brokers simply agree to be part of the NWMLS? I have no idea.

Hmm. Maybe I'll meditate some more on this subject, but this time in the middle of the room far from my computer monitor and the book shelf. Perhaps the MLS is not the only way to promote a property on the Internet. Perhaps I know the deep secrets of Internet marketing that could sell your property for the highest price within a reasonably short period of time. May I suggest you meditate on that?

Courtesy Sequim & Port Angeles Real Estate, LLC

Sequim and Port Angeles Mortgage and Foreclosure Help

2008-06-04T09:01:00.000-07:00

Sequim and Port Angeles mortgage default online help is now available, and homeowners who are struggling to make loan payments can work directly with their lending institution, and this new system has the capacity to get very quick responses through this well connected database network.

Homeowners who use the system are able to get responses from the banks in as little as one week. That's practically unheard of. This is cutting edge technology, and it's a business model desperately needed now. I believe this could be an answer for thousands of people across the country. I have been authorized by the owners to make this exclusive news announcement, and I am the first to announce this new system for homeowners in Washington state. I urge you to take advantage of this help, if you need help with your current mortgage.

We are in challenging times, and a loss of job or reduction in hours can be the cause of a default, but there are many other legitimate reasons a person might find themselves in trouble. Divorce, death of a spouse, injury, or other circumstances can cause a person to get behind on their mortgage payments.

As a retired real estate attorney and now as a Broker/Owner/Realtor, I've spent time interviewing the founders and owners of this company, and I am greatly impressed with what they've put together. I highly recommend this site if you need to communicate with your lender to seek a modification of your loan, a forbearance, or a refinance.

If you are in foreclosure on a local level in Sequim or Port Angeles, be proactive to find solutions. Don't wait until the 11th hour of the Trustee's sale when it may be too late. Having been a real estate attorney, I understand the process inside and out and what can be done. I also have a site where buyers can look at listed foreclosure properties: SequimForeclosures.com or PortAngelesForeclosures.com.

To modify your loan or to communicate with your lender for other requests, go to this site: Resolving Your Loan Default Now. You'll be glad you did. Email me and let me know how they were able to help you.

Courtesy Sequim & Port Angeles Real Estate, LLC

Mortgages - Turn Back The Clock

2008-06-03T21:11:00.000-07:00

They say history repeats itself. The past twelve months are indicative that the same holds true for residential mortgage lending. The contents to follow depict what’s ahead and more accurately put, what’s already here.

This past year has brought many changes. While the aforementioned may be the understatement of the year, simply stated, the lending rules have changed. Or have they? Many would argue that we have returned to the mid 1990’s; a time when borrower’s actually had to qualify for a mortgage. While limited documentation loans are still available, they are harder to come by and are more heavily scrutinized.

What does this mean to those in the market to purchase a new home or refinance their existing home mortgage? In short, it equals more documentation. Limited documentation of employment, income and assets has quickly become a thing of the past. Prospective borrowers should prepare for a more thorough loan process where documentation is no longer “optional” but in most cases required. The majority of the transactions being processed and closed in today’s changed market are “full documentation” loans (proof of income and assets required).

Now that most lenders are back to underwriting loans based on the secondary marketing guidelines, it is at the discretion of the agency purchasing the loan as opposed to the lender as to what documentation is or is not required (regardless of whether or not the loan servicing is retained). It is simply a matter of square peg, round hole; if it doesn’t fit the requirements, it’s not salable on the secondary market.

Documentation requirements are in place for three reasons. I touched on the first reason in the previous paragraph; certain documents are the requirement of the agency that buys the paper or IOU. The most competitive rates and programs are typically underwritten according to guidelines put forth by FNMA, FHLMC or GNMA (a.k.a. Fannie, Freddie & Ginnie). If a consumer wants a 30 year fixed rate mortgage, the necessary paper work will be the same from lender to lender regardless of being a bank or broker. What would be the point of asking for more paperwork than is actually needed?

The second reason is of federal proportions. On a national level, our government has a paternal interest in making sure that each federally related mortgage transaction meets certain standards of uniform disclosure (much of which is in place to limit fraud by consumer and lending institutions alike).

Finally, each state will have varying additional requirements as virtually all have enacted some form of governing law covering mortgage lenders.

Yet many lenders still tout reduced and limited documentation loans. It is the lead for many lenders in getting the initial appointment – selling someone on a program that is not as readily available as it once was only to change them to another product well into the process. This is better known as “bait and switch.”

Should claims of “less paperwork” be taken with a grain of salt or is there further evaluation to be done? Not one for paralysis of analysis, I still find it difficult not to wonder what basis these claims are being made. Maybe it can be paralleled to “buy now, pay later.” Less paperwork at the front end of a transaction will inevitably require more paperwork (and potentially cause problems) as the closing day approaches. It is not uncommon for an application package to contain 18 to 20 “compliance” or required documents (in addition to the actual application, Good Faith Estimate of Settlement Charges and the Truth in Lending disclosure). Borrowers should also be prepared to provide income and asset documentation at application. Less paperwork may be indicative that something is amiss - and one should always be skeptical of lenders requesting signatures on blank or partially completed application documents.

A reputable mortgage professional will not play games when it comes to completing and signing your application documents. Aside from the matter of high ethical standards and good client relations (and hopefully word-of-mouth referral business in the future), a quality lender will provide full disclosure and detailed explanation of all required documents at application. The closing table is hardly the place to clear up confusion. Originators conducting themselves under the highest standards also preserve their company’s ability to do business and avoid potential violations of the Federal Truth in Lending Act and the Federal Real Estate Settlement and Procedures Act (RESPA).

Submitted by Buck Gieseke. Need a home loan in Sequim or Port Angeles? Buck Gieseke is a loan officer for Integrity One Home Mortgage, Inc., and can be reached by email or phone at: buck@iohmi.com or 360-565-2070. You can also find him on the Internet at: www.iohmi.com

Foreclosure Properties For Sale in Sequim & Port Angeles

2008-06-02T15:04:00.000-07:00

Foreclosure properties for sale in Sequim and Port Angeles are now available through a retired real estate attorney who himself did many foreclosures in Sequim and Port Angeles. Chuck Marunde now offers his clients a service at no cost, which gives them the ability to search the entire foreclosure database here, including pre-foreclosure properties, trustee sale properties, and REO properties (already foreclosed and listed for sale). This service is offered through Sequim & Port Angeles Real Estate, LLC.

The following is taken from the search page:

The following foreclosure database is a subscription service I pay for, but I offer it to you here at no cost with the permission of the largest foreclosure database in the country, Foreclosure.com. If I can answer a question for you about the foreclosure process or how to bid for a foreclosure, either before the Trustee's Sale, at the the Sale, or when the property is an REO (bank owned listing), don't hesitate to email me or call me at 360-775-5424. By the way, if you're looking for foreclosures in any county in Washington or in any state, make your offer through me. I just might be able to save you a lot of money because of my experience. Why not use me to make money?

One thing I want to share with you up front, although this is self promoting, is that I've done more foreclosure work in Sequim and Port Angeles than most, since I was a real estate attorney here, and I did many foreclosures and forfeitures from beginning to end. I know the process intimately, the costs involved, what can be waived or negotiated away, and how to deal with second mortgages, third liens, judgments, tax liens, bankruptcies, and L&I liens. Real estate agents have been calling me for 15 years to understand how to handle these issues. My point? I know this subject. Can I earn your business?

Search the Entire Foreclosure Database for Sequim and Port Angeles here.

Port Angeles FSBO - For Sale By Owner Part 2

2008-06-01T09:33:00.001-07:00

Want to sell your own home in Sequim or Port Angeles? How do you market your home in this economy? What techniques are best for selling? How do you get the highest price? This is Part 2 of a 6 part series answering these questions.

As I wrote in Part 1, "I think of selling your house as a six part process: 1.) knowing the local real estate market, 2.) figuring out the FMV and determining a realistic sales price, 3.) developing an effective advertising plan, 4.) negotiating diplomatically but firmly to arrive at a price that pushes your buyer as far as they are willing to go, 5.) drafting the legal contracts as well as drafting unambiguous language that gets the property sold without legal problems, and 6.) avoiding the many traps for the unwary."

Today's Coverage: 2.) Figuring out the FMV and determining a realistic sales price.

The single most important step in the process of successfully selling your home is coming up with a true FMV (fair market value). Price your house wrong on the market, and it may get stale, and either take much longer to sell at a lower price, or not sell at all this year.

A Realtor can get a beautiful CMA (Comparative Market Analysis) from the MLS (Multiple Listing Service). If you're not a member of the MLS, you won't have access to all that data, so a FSBO (For-Sale-By-Owner) will have to resort to what are probably less accurate and more labor intensive methods to do a CMA.

I have a strong conviction about arriving at the listing price, whether a FSBO or listed with a Realtor. I believe it must be an accurate FMV. An experienced Realtor using the MLS can arrive at an accurate FMV, but it takes hard work to make the necessary adjustments up and down for the comparables to arrive at the best FMV for your home. Because it is so hard for a FSBO to do this accurately without a lot of training and a current data base, I recommend hiring a licensed appraiser and paying him for what is the equivalent of a bank appraisal. It is extremely effective to show a prospective Buyer how you arrived at the asking price. They can't really argue with it. It is well documented, has color pictures of the comps, includes all the amenities and the values, and has an authoritative bottom line number.

This same appraisal is typically good for six months and probably can be used by your buyer with their own bank. While some appraisals take weeks to get done, your appraisal is already done and the Buyer can take it to the bank. What a great way to reduce unnecessary delays, especially with VA loans. The appraisal will cost $400, more or less, but just tell the Buyers that while you have done them a favor by getting it done in advance, you expect to be reimbursed at closing as it is normally their cost anyway. By the way, some special types of HUD loans or VA loans may require a bank appointed appraiser of their own choosing, but your appraisal still has all the benefit of accurate pricing to market and sell your home.

I recently listed a home that had previously been listed for six months with another broker with no activity whatsoever. I sold it in about 30 days after listing, and I would attribute this success to effective marketing AND the right listing price. The listing price was $25,000 below a current bank appraisal, and I made it clear in the marketing that price was already negotiated and firm.

Wrong pricing can be devestating. I noticed in my MLS that a 2.5 acre lot with a mountain view sold this past month for $139,000. What is interesting is that the original listing price was $239,000. Wow! What a discount! It would seem the original price was grotesquely over FMV by $100,000. Guessing what the FMV is on your property is just plain dumb. Don't do it. Pricing is not science, but neither is it throwing dice. Admittedly there is a subjective aspect, but there is a great deal of solid mathematics involved, too. You have to know how to do the math.

It may be obvious, but another great thing you accomplish by getting the appraisal done in advance is to reduce the offer/counteroffer/counteroffer exchange. Explain that the appraisal eliminates the uncertainty for them about what the FMV of the house is, eliminates the need for the games that Buyers and Sellers often play without an appraisal, both trying to take advantage of the other. This is very effective!

Courtesy Sequim & Port Angeles Real Estate, LLC
Chuck Marunde, J.D. Owner/Broker/Realtor

Elwha River Bridge

2008-05-31T21:42:00.000-07:00

The Elwha River Bridge just west of Port Angeles is still under construction, but progress is being made. The old bridge was a landmark and beautiful in its ancient construction, but it had become unsafe and in great need of maintenance.

Click on photo to enlarge.

This bridge spans the Elwha River on the Upper Elwha River Road, which connects Highway 112 and Edgewood Road. For bicyclists or joggers, watch for the day the bridge is completed, because there is a great loop if you park your vehicle at Laird's Corner at the public parking lot, bike or jog down Edgewood, down the Upper Elwha River Road to Highway 112, and back up Highway 112 to Laird's corner. Laird's corner is at the intersection of Highway 101 and Highway 112.

Courtesy Sequim & Port Angeles Real Estate, LLC and Photo by Chuck Marunde, J.D.

Sequim View Lots 2+ Acres to 9.91 Acres

2008-05-31T10:12:00.001-07:00

Sequim Water View Lots in Bell Gates on Bell Hill