Tag Archives: real estate

Family Night In Kirkland at the Beach Cafe

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It’s the middle of a busy work week – and if you’re like me, you really aren’t feeling up to making dinner tonight! We’ve found great places to eat in our favorite neighborhoods, and the Beach Cafe is one of them.

Every Wednesday until March 26, 2014, the Beach Cafe is having family night. Your family can pick an affordable three course meal, which includes: A bottomless appetizer for the table, individual entrees, and dessert to share.

Date: Every Wednesday, until March 26, 2014
Time: 4:00pm – 9:00pm
Cost: $16 per adult / $9 per child
Location: Woodmark Hotel 1200 Carillon Point, Kirkland, WA 98033-7322
Phone: 425-889-0303
Website: http://www.thewoodmark.com/beachcafe/kirkland-restaurant-events.php
Neighborhood: Kirkland

For more information about Kirkland or current property listings in Kirkland, click here.

TAKE A VIDEO TOUR OF KIRKLAND!

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What is the neighborhood like?” is an important question our buyers ask. And just like our clients, we enjoy being involved in the community we live in and know that it’s not just about the perfect house but the ideal neighborhood as well – your place to call home and build memories.  

Follow Elizabeth Filion, our Marketing Specialist, on a quick tour of two Kirkland neighborhoods.

Click here to learn more about Kirkland: http://www.upagents.com/Kirklandhomes

Beware of Foreclosure Rescue Scams

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Reviewing some of these handy articles below is very important for anyone looking for relief in mortgage modification or avoiding foreclosure. Facing such circumstances is extremely stressful for most people and knowing who to trust is key. What stood out the most to me in reading these articles was this key element: OVER PROMISING.

I have worked on dozens of short sales and in these situations we deal with the seller’s lender through a negotiator who has worked on hundreds of such files. The goal we have is not mortgage modification at this point but to sell; however, our negotiator is directly dealing with the lender about the mortgage. Let me tell you, there is no extremely simple guarantee that the lender will make things smooth. Although in the end, our success rate is very high so we can close these short sales, the process is somewhat complicated. If anyone suggests they can, instead of completing a short sale, either stop your foreclosure or easily modify your loan with your lender…that is just plain silly. Many of my short sale clients come to me after having tried, through their own efforts, to modify their loan with their lender. Many have failed or others took months upon end, repeatedly turning in the same paperwork and to only have it modified a dismal amount.

Recently, one of my short sales that was on track to close after 3-4 months of securing the buyer. Out of the blue, we had the loan servicer tell us the investor was selling the lien to another party called PennyMac. This turnover would happen about 10 days before our close date which that lender told us to schedule. This is the first occassion I’ve had this happen but here my expert short sale negotiator has been following the letter of the law in this transaction and just before close an investor can step in and wash it all away. We are trying to save it but it is difficult. We can only close with the second lien holders approval and they are not in any hurry.

Based on my experience, anyone who makes firm promises without equal warnings is most likely either ignorant or trying to scam you.

Washington State Department of Financial Institutions
Federal Trade Commission: Mortgage Relief Scams

RACHEL BADGETT
Managing Broker & Owner | Urban Properties
Five Star Award in Customer Service, Seattle Magazine

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“On second thought…”: Maneuvering out of your offer on a house

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Don’t be too alarmed if you make an offer on a house as if you just walked down the aisle to be married to a complete stranger who was very cute from afar but now you’re not so sure. Inexperienced buyers have a quiet, or sometimes squealing, panic that sets in because their equally inexperienced Broker did not explain something very important: most often, if your Broker did their job, this stage is much more like a proposal until many more things are agreed upon. Think of it as gateways to owning that home. This offer and acceptance should only be the first.

Contingencies are other gates ahead of you…i.e. the sale is contingent upon x, y, and z happening within a certain amount of days, etc. The first one you should rarely skip is the inspection contingency. There are those who, in this highly competative market, do a pre-inspection but in your average case that is the second essential gate you use as a decision point to stay or leave. The default for the NWMLS Form 35 Inspection Contingency gives you 10 days from *mutual acceptance to do some very important things: hire a home inspector, have contractors give you bids, and more. And what if your Broker tells the other party on day 11 that you no longer want the house based upon inspection? Technically, you cannot walk away on this count any longer so be very aware of timelines like that. You also missed your chance to negotiate items you want the seller to fix or give you a credit for.

Also, many Brokers mistakenly tell their clients that this inspection requires a formal inspector to come in. Actually, whatever inspection you choose to do will suffice. If you walk in and decide you no longer want the house, that will do; your personal inspection will be enough to say “no go”. (Note: Failing to hire a formal inspector when you plan to move ahead is not a wise thing to do. Our clients who take that chance are normally contractors who know how to examine homes themselves.) In summary: 1. hire an experienced and honest Broker who doesn’t push the process, unbeknownst to you, so each contintency gate slams shut, 2. who won’t let you waste your $400 plus dollars on an inspection when you’ve realize you don’t even like the house, and 3. who can save you much more in understanding other ways to exit your contract without losing your thousands of dollars in earnest money.

* mutual acceptance is when both the buyers and sellers agree to ALL the terms within the offer, indicated by fully signed and dated documents that are delivered within the time allotted in the contract.

RACHEL BADGETT
Managing Broker & Owner | Urban Properties
Five Star Award in Customer Service, Seattle Magazine

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Tenant Rights You Should Know

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Having owned six homes of my own at this point in my life, I have also been in a renter’s shoes myself as well as been the landlord. There is nothing more stressful for a renter than a landlord who does not take them seriously when they raise a concern; most importantly, when it comes to issues related to safety – including health safety.

I found this following guide very informative when I had a landlord who downplayed my concerns about water leaks in my bedroom window and the related mold. My video recording, record keeping, and notices to a senior manager were effective in producing speedy results. Thankfully there was a management company who oversaw the not-so-handy on site manager who had blown me off for a month and whose idea of checking for a water leak in my window was to lean over my outside deck a few feet away and eyeball the caulk. My video evidence also proved his gross incompetence at understanding regular moisture and condensation vs. a pure water leak…dripping water included.

By the Northwest Justice Project, this guide comes recommended on the website for the Washington State Office of The Attorney General: http://www.lawhelp.org/documents/1593216300EN.pdf?stateabbrev=/WA/ Also see the Russian and Spanish versions.

RACHEL BADGETT
Managing Broker & Owner | Urban Properties
Five Star Award in Customer Service, Seattle Magazine

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Buyers: Who pays your agent’s commission?

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Does a buyer pay their agent’s commission? No, but sometimes yes. In most cases, the sellers pay both agents’ commissions at the close of the transaction. However, what if the home you like has an extremely reduced commission stated in the listing? Your agent still deserves the going commission, I would hope, so they may have you sign a contract from the start stating that if the stated commission falls below x percent, the buyer agrees to pay the difference. It’s negotiable, of course, and agents must be careful because since they are committed to that client’s deal by law, they can’t turn around and not show them a house with a pitiful commission or just drop them as clients. Also, in the case where an agent may take a buyer to an auction to guide them through a sale there, the buyer would pay that agent directly from their own pocket.

Some agents may require you pay a retainer before they take you shopping but beware of any agent who professes that your out of pocket money is the only way they get paid; that’s just not the way the game is played.

Don’t be afraid of the Buyer’s Exclusive Agency Contract either since the agent can write on it that the seller will pay their commission. If you want 100% of an agents attention, they need to know you’re working with them from start to finish. Let them take you on a tour first and get to know them before you sign. Call their references and do your homework. I have a list of questions you can cover with a potential Buyer’s Agent to see if you want to hire them. It’s wise to interview more than one – no matter how much your Uncle Joe or co-worker like that agent they used 5 years ago. People don’t often buy that many homes to interface with agents enough to know what is average service and was is extraordinary.

RACHEL BADGETT
Managing Broker & Owner | Urban Properties
Five Star Award in Customer Service, Seattle Magazine

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