Help with distressed property in south King County
May 25th, 2009
Categories: General Interest, Real Estate News
A couple of months ago my partner and I attended a two-day seminar to earn the new designation of “Certified Distressed Property Expert“. The intensive course covered all aspects related to distressed property from sub-prime lending practices through the foreclosure process. If you read newspapers or watch the news on television you are well aware of the growing number of foreclosures here and across the nation. The course and resulting designation will enable us to be of real value to those individuals and families who find themselves in financial difficulties and face foreclosure. Every situation is different and not all will be able to avoid foreclosure, but we have the knowledge and tools to to help educate people on their options to save their homes. We live in difficult and challenging times and need to rely on one another for support and guidance. We have taken the steps necessary to educate ourselves to be knowledgeable and understanding of the issues facing some homeowners. If you have a friend or neighbor facing a difficult situation, please let them know about our capabilities and willingness to help. Knowing your options may help some families avoid foreclosure and save their home.
San Juan Island property
May 10th, 2009
Categories: Best Places, Side Trips
The old barn and pond as viewed from the home
On my last post I mentioned that I would tell you more about the San Juan Island property that my client chose to purchase. If all goes well, they will own the home and the 21 acre parcel by the end of the month. Driving from downtown Friday Harbor, Guard Street eventually turns into Beaverton Valley Road which turns into West Valley Road and finally to Roche Harbor Road terminating at Roche Harbor. Our parcel is on Beaverton Valley Road just a few short miles from downtown. If you have never been on Beaverton Valley Road or its extensions the terrain is very reminiscent of the verdant hills and valley farms that dot the coastal areas of Northern California. This parcel is adjacent to Beaverton Valley Road and the home is situated several hundred yards from the gated entrance. The beautiful log home features about 3400 square feet of living space and enjoys a distant view of the Olympic Mountain range. The property includes other structures including a huge old barn, a large natural pond, a private well, fruit trees and gardens. Most would agree that this is a great piece of property and will be enjoyed by family members for many years. Having spent many days touring the island has given me quite a fondness for it. I think I could imagine myself living there among the friendly residents while struggling to adapt to the serene island life. Maybe a nice contemporary rambler on a quiet inlet within walking distance to the beach and a view of San Juan Channel. Well I can dream, can’t I?
A new home in the San Juan Islands
May 3rd, 2009
Categories: Best Places, Side Trips
Early morning, Friday Harbor
It’s been some time since my last post and my only excuse is that I’ve been too busy. Too busy? Well, I have been working a lot but I’ve also been neglectful and forgotten my priorities. It’s easy to put the blog on hold since no one cares enough to hold me responsible. All I can say at present is that I plan to schedule time regularly to be here. Enough said!
I have recently made several trips to the San Juan Islands while representing a buyer in purchasing property on San Juan Island just outside of Friday Harbor. As you probably already know, the San Juan Islands are located off the coast of Washington state between the cities of Anacortes and Bellingham. There are actually 172 islands in the archipelago with only about 50 of those islands inhabited. The Washington State Ferry system only serves four of the main islands, San Juan, Orcas, Lopez and Shaw, all from Anacortes.
We spent most of our time viewing property on one the largest islands which is San Juan. My client wanted to be near more services and was not seeking the isolation of some islands. This was just fine with me because Friday Harbor has nice accommodations, restaurants and shops for visitors and locals to enjoy. At the present time the Friday Harbor House is undergoing a remodel so there are some considerations to make if you plan to stay here. Even so, we enjoyed our stay and feel comfortable recommending the hotel to anyone. We also had the time to visit another one of the islands hotels, The Lakedale Resort. This Inn has a beautiful main lodge and several log cabins scattered about the property, all built around a large lake. This is not a primitive camp but a luxury resort with fine accommodations for a special family vacation. Of course, on the other side of the island is the Roche Harbor Resort , a favorite of of the boating set and anyone one else who enjoys fine accommodations set at the edge of a beautiful yacht harbor.
We dined at several restaurants during our stay but kept going back to one in particular that I have to recommend. When you visit Friday Harbor make your dinner reservations at the Back Door Kitchen, you will not be disappointed.
My buyer found the property he was searching for and and most of the tasks necessary to complete the transfer of ownership have been completed. I’ll tell you more about the property in my next post. Until then, start planning your trip to the San Juans and enjoy one of the jewels of the Pacific Northwest.
Weyerhaeuser bonsai collection closes to the public
March 30th, 2009
Categories: General Interest, Parks and Gardens
As I walked in to the garden gift shop at the Rhododendron Species Botanical Garden this morning I said “I’ll bet it wasn’t this quiet yesterday.” She said, we had over 800 visitors for this final weekend before the Pacific Rim Bonsai Collection closes to the public. The Weyerhaeuser collection of 60 bonsai, a gift to the state on it’s 100th birthday 20 years ago will close on April 1st. Like many companies, Weyerhaeuser has experienced a difficult period recently having closed 14 lumber and manufacturing facilities and cut more than 1,000 jobs. The company reviewed several options for keeping the gardens open to the public but in the end, decided to close. If you missed this last chance weekend, the gardens will have a brief reopening Mother’s Day weekend for the ” Buds & Blooms ” festival. The Rhododendron garden and gift shop will remain open as well as the surrounding grounds. Always worth a visit.
New Lending restrictions will hurt condo sales
March 21st, 2009
Categories: General Interest, Home Buyers
This sounds counter-productive to me but Fannie Mae has just added new restrictions that make it more difficult to own a new condominium. The mortgage finance giant has stopped guaranteeing mortgages in condominium buildings where fewer than 70% of the units have been sold. They also will not back loans in buildings where 15% of the current owners are delinquent on their association dues or in cases where more than 10% of the units are owned by a single entity. The new policy which became effective on the first of March is intended to protect borrowers from investing in properties that they perceive as being a high risk development. These new rules come at a time when developers are already having a difficult time selling available inventory. Developers can petition Fannie Mae for an exemption which are reviewed on a case by case basis. Over 50 exemptions have been approved so far and others will be lining up. There are many new condo developments coming on the market at a time when there is already a glut of unsold inventory. In the Seattle area Vulcan Inc, is currently encouraging buyers to consider only buildings that meet the 70% sold criteria.
Stay and pay or just walk away?
March 5th, 2009
Categories: General Interest
With one in five homeowners underwater, some predict that thousands will just walk away from their homes during these economic hard times. Almost 20% of homeowners or 8.3 million people are upside -down on their mortgages and another 2.2 million are nearing that point known as “negative amortization“. Personally, I hope these predictions are wrong and that most homeowners will find a way to stay in their homes. These new loan modification programs may help thousands retain ownership, but time will tell.
CNN Money has just published an article on this topic asking five homeowners with mortgage troubles whether they intend to “stay and pay” or “just walk away”.
Read the interviews and then ask yourself “what would I do”?
Weekend side trip
February 28th, 2009
Categories: Side Trips
When Saturday arrives, what do you think about? I know we have things to do, but do you dream a little as well. Maybe it’s just me, I seem to dream a lot, and I like to dream big. You remember my dream house in Hawaii.
To me weekends should be for leisure. The real estate business rarely allows for leisurely weekends, so dreams or virtual vacations have to suffice. This problem coupled with our current economic situation restricts travel to the visual miracle of the Internet. So, this Saturday let’s travel together to a wonderful hotel in Paris where your morning coffee may set you back ten dollars or more, but who cares we’re in Paris!
The Four Seasons George V is a 1928 Art Deco landmark hotel near the Champs-Ely-sees in Paris, France. One click will take you there, I’ll buy the morning coffee, dinner is on you.
Kent Town Square Plaza
February 23rd, 2009
Categories: About Kent
Maybe you’ve seen it, maybe not. The next time you visit Kent Station just walk towards downtown and you’ll find a large open area with a huge granite sphere in the middle with water bubbling at it’s base. Measuring over five feet in diameter and weighing in at over 12,500 pounds, the Rotary International Centennial Ball is the largest of it’s kind west of the Mississippi. Honoring a century of global projects the rotating ball fountain was a gift to the city from the Kent and Kent-Sunrise Rotary Clubs. The ball was fashioned from a 20-ton quarry block of green granite from India by Seattle artist, Stuart Kendall. This photograph shows the fountain in action with the King County Regional Justice Center in the background.
Real estate can be a scary business
February 19th, 2009
Categories: General Interest
It’s very important for those who work in the real estate business to know their market well. If they specialize in a particular geographic region they should know all about the homes within that area. The most reliable way to accomplish this is to drive the neighborhoods and visit as many properties as possible. Knowledgeable agents do this research every day. However, in the course of this research you can encounter interesting and unexpected situations, like this warning sign. Fortunately this was posted on a house nearby and not on the one that I was previewing. If this sign was attached to a home that I had intended to enter, I would think twice even if I believed it to be safe. This is a scary sign.
Dream home of the week
February 16th, 2009
Categories: Best Places
The dream home of the week feature is just that, homes that most of us can only dream about. Who knows, maybe you have a long lost uncle who will leave you a fortune, or even more unlikely, you win the lottery. Even though these homes are a bit out of reach, we can still enjoy the beauty, craftsmanship and location of these fine properties.
This contemporary home is in the Hualalai Resort complex on the big island of Hawaii. The home is situated on an elevated lot which provides an unobstructed view of the ocean and golf course. With 4 bedrooms and 4.5 bathrooms all in 5,678 square feet this home may be worth the $ 10,350,000 asking price. Click here for more information and pictures on this beautiful property.
