15716 Ursula Ln SE Yelm WA 98597

Who loves horses? Who has a green thumb? And if you have both…this is the property for you! This perfect mix! 6.1 acres of pasture and forest with the home and outbuildings, neatly nestled in for a privacy. Through the gate at the top of the drive, wind down the drive to find a well appointed rambler home. A 4 stall barn (hay storage, tack room) and outdoor arena. A greenhouse set up to die for…you will have the prettiest flowers and the best herbs and veggies in town. Self sufficient?

SALES PRICE $ 480,000.

 

Advertisements

8410 23rd Ave SE Lacey WA 98513

They say a picture is worth 1000 words…this home rocks the photos! Check it out! Great room concept 3 bedroom home on a corner lot with great access to shopping, services, and I-5. The seller chose the kitchen and master bath upgrades when purchased and the difference is outstanding in comparison. The expanded dining room and covered out door area allow the main floor area to live large. In addition to the 3 bedrooms upstairs, the bonus room is a fantastic additional space. See it today!

SALES PRICE $ 420,000.

 

18111 149th Ave SE Renton WA 98058

Finish out the summer in this wonderful, rare 5 bedroom Carriagewood home with updates all over, inside and out, including a lifetime roof! Enjoy spending outdoor time on the deck or patio surrounded by mature landscape affording sense of privacy. Once the weather turns step inside and warm up to a cozy fireplace, roll out the cookies on the granite counter tops, or take a hot shower in the wonderfully remodeled master bath. All this w/in moments of all the modern conveniences… come today!!

SALES PRICE $ 550,000.

 

243 Alderwood Drive Chehalis WA 98532

VACATION AT HOME in this luxury retreat. Experience the holidays w/ a tree as big as the Governor’s Mansion or lounge on the pool deck in the heat of summer like you are in the desert. This home features ALL the creatures comforts you can imagine and deserve. Whether entertaining friends or business associates, your guests will be impressed by the magnificent floor plan and attention to detail. Now, check out the attached 3D tour and aerial photos and make an appointment to see it!

SALES PRICE $ 890,000.

 

Smart Tips For Selling A Multi-Family Building

Tips For Selling A Multi-Family Home

Many out of state buyers are looking to make a purchase of a multi-family building here in Thurston, Lewis, Mason, Grays Harbor due to the lower cost as compared to other states.  With the lower cost and higher Return on Investment (ROI) out of state investors are lining up to purchase great cash flowing properties and as a result are at 5-7 year highs.  While demand is high that does not mean multi-family building owners can expect a cake walk when it comes time to sell.  Multi-family building owners still need to prepare their buildings so that they attract buyers who want a ready to cash flow building as opposed to those buyers looking for a bargain.  Bargain hunters will only be interested in a building if the price is in the bargain range.

A multi-family home is a building that allows for two or more families to live together in separate apartment/living spaces but generally under one roof.  Conventional mortgage financing can be used for multi-family buildings when there are no more than two to four units in the building.  Anything more than four units requires commercial lending products in order to purchase.  Due to the allowance of conventional mortgage financing for 2-4 family buildings buyers can actually buy one of these buildings as owner occupied and pay a lower amount for down payment (anywhere from 0% to 5% depending on the loan program).  If a buyer does not intend to occupy the building then down payment requirements are in the 20-25% range depending on the lender.  For commercial mortgages for multi-family buildings greater than four units down payment requirements can be in the 20-30% range or more depending on lender requirements.

Read on for some multi-family preparation for sale tips…

LEAVE ONE UNIT VACANT

In a multi-family building that has 2-4 units it is advisable to leave one unit vacant if possible.  By keeping a unit vacant in the building showings can be done at any time with very little notice required.  With any tenant occupied unit notice requirements generally mean letting the tenant know at least 24-48 hours in advance of a visit.  Multi-family building buyers can view the vacant unit and determine if they like what they see.  If the buyer wishes to see the occupied units then a second appointment can be made to view the occupied units after sufficient tenant notice has been provided.  This results in less time wasted for both the buyers and the tenants.

As noted above with 2-4 unit buildings buyers are able to purchase the building as owner occupied and live in the building with a much lower down payment than if they were to buy it as non-owner occupied.  The vacant unit allows buyers who want to live in their new purchase an opportunity to do so without the need to move any existing tenant out.  While a buyer can purchase a building as owner occupied when all of the units are occupied there may be costs associated with ending a lease early for tenants on long term leases in order to allow the buyer to get an apartment to live in.

For buildings with five or more units the current owner should have a vacant unit available during the time on the market in order to allow for quick and easy showings for any potential buyer who wants to see the property.  By having a vacant unit a buyer has the opportunity to see how a typical apartment looks in a building and should be able to tour other common areas as well to view overall site condition.  If the buyer likes what they see they can schedule up a follow-up appointment to see the occupied units or they may be ready to make an offer just based on what they saw and allow their inspection team to evaluate the occupied units at a later time.

VACANT UNIT PREPARATION

Just because a unit is vacant does not mean it should be left as is with the thought that the new owner can deal with it as they see fit after they buy it.  If the vacant unit was left in very poor condition by the prior tenant then this will reflect poorly on the building owner.  Most investors looking to buy a multi-family building want a building that has been cared for.  A unit left dirty and without basic repair reflects poorly on the current owner which could cause buyer’s to wonder how bad the other units and common areas in the building were treated over time.  Just as with a home there should be some pride of ownership in an investment, if the seller cannot be bothered to keep their building looking decent then don’t expect any reasonable offers on the building.  Instead the buyers looking for a deal are likely the only ones to make an offer on the building and the offer will reflect the poor condition of the building.  Instead units should be cleaned up and ready to rent for another tenant just as if the seller was not planning on selling the building.

ADDRESS DEFERRED MAINTENANCE

If your building has areas where maintenance has been deferred due to time or budget constraints now is the time to get the deferred maintenance tasks completed.  Whether they be in common areas or in tenant areas cracked windows, leaking pipes, missing shingles and more should all be addressed.  Not only does addressing deferred maintenance make a building look better to potential buyers it can also help deter future damage whether it be from criminals looking for an easy target or a tenant thinking since it is broken or in poor condition anyway why care if it gets worse.  Building owners should also contact a pest professional to treat any pest problems as potential buyers don’t want to have to deal dead bugwith termites, bed bugs or more when the current owner should have been dealing with it in the first place.

BUILDING INSPECTION

As is normally recommended for a single family home a pre-listing inspection is a valuable tool that can save time and money when it comes to selling a multi-family building.  The inspection can uncover issues with the building that could be repaired which would mean one less repair that could cause a buyer to walk away.  Too many repair issues coming up on a buyer inspection could cause them to change their mind about purchasing a building and since it generally takes longer to sell multi-family buildings compared to single family buildings that represents a lot of wasted time if a multi-family building owner has to put the building back on the market due to a buyer backing out.  The pre-listing inspection is not only a smart thing to do since it will remove one area that could result in a deal falling apart, but the cost for the inspection may even be tax deductible too.

GET AN APPRAISAL

Due to the nature of multi-family buildings, especially when there are more than four units, finding the right price for such a building may not always be possible using traditional methods.  As with selling real estate in general the amount paid for the building when purchased, the amount of money spent on upgrades and updates or the actual cost to build a new similar building play no part in determining the current price of a building.  A better way to determine price would be to get an appraisal from an appraiser who has experience with appraising multi-family buildings.  Not only will the appraisal allow the building owner to determine a good sales price when on the market, in the event a buyer’s lender comes in with a lower appraisal amount the prior appraisal may help if the buyer decides they want to appeal their lender’s appraisal.

WORK WITH A REAL ESTATE AGENT WHO KNOWS HOW TO SELL MULTI-FAMILY BUILDINGS

Selling a multi-family building is different than selling a single family building mainly because there are different types of buyers involved.  With a single family home the buyer can be a person looking to buy a home to live in or an investor looking for something to add to their portfolio.  Multi-family buildings on the other hand are mainly being looked at by investors.  The occasional owner occupying multi-family buyer may come along when the building has four or fewer units but for the most part investors are the primary ones looking to buy multi-family buildings and as a result traditional home marketing does not work for multi-family buildings.  Hence the need to work with a real estate agent who works with multi-family buildings.  Even better would be to work with one who not only works with multi-family buildings using a realtor can increase your profitbut may even own some themselves.  By working with a professional real estate agent you will be getting access to their network of contacts and knowledge of the market in order to better help get the multi-family building sold.

BOTTOM LINE

Due to the recent attention the area has been receiving for their relative lower cost multi-family buildings there has been increased purchase interest by out of state investors.  Many out of state investors are looking for properties that are ready to go and start earning them a return on investment as soon as they can close.  By properly preparing a multi-family building for sale building owners can help ensure they get top dollar for their property.

Homebuyers entering the competitive home buying market.

Here are some helpful hints for home buyers who are considering entering the highly competitive Thurston County home buying market. With inventories at record lows, the best properties will go quickly. With so much pressure on the home buyers, it is important to get a jump on the process. Now more than ever… the need for a well thought out plan can relieve stress and prepare you to act confidently and quickly.
Setting expectations

As a part of making a decision to buy residential real estate, near the top of the list would be meeting with a lender. They can assist you to discover what you are qualified to buy based on income and debt ratios. A local lender can also help you choose a loan program best suited for your unique needs. Be sure you get pre-approved and not just pre-qualified. The difference will carry weight with sellers when you present offers particularly in a multiple offer situation.

Equipped with your pre-approval, the second thing on your list is to seek out a local, qualified, experienced, full time real estate agent. Remember… in the state of Washington, the seller pays the real estate fees for the buyers’ agent. In effect you get full, exclusive and personal representation throughout the real estate transaction.

Your agent will play a key role, acting as your local expert guide, to successfully lead and to achieve your best outcome. Take the time to interview them to be sure they are a fit. There is simply no substitution for meeting them face to face. As a result of your meeting, you should feel informed, confident, safe and understood.

Understanding the process

Once you have made your decision concerning an agent, you should set aside time to discuss the home buying process in detail. You should be prepared to know what to expect. They will help you set your search perimeters, explain the offer/purchase acceptance process, understand what is and how much earnest money required will be. In addition, you should understand how the contract obligates each party to actions and the timelines to do them in. You will need to rely on your agent’s suggestions for strategy in the composition and execution of the offer, and possible recommendation for inspections. You should feel completely comfortable with HOW this all happens.

In the state of Washington, buyers are expected to” beware,” in other words, the burden of discovery is on you. With the help from your agent you will need to put your “detective’s hats” on throughout the process.

With the help of your agent, be sure to collect and review a completed NWMLS Form 17 Property disclosure form. It serves as record of knowledge concerning the specific of the property from the current homeowner’s perspective. Be sure you understand what it says. Ask clarifying questions.

With the assistance of your agent, you should receive and review the Title Report. Look for liens & assessments (unpaid or unresolved debt recorded against the property), easements of record such as septic, ingress/egress, utility, or encroachments that may affect your use and enjoyment of the property.
Be familiar with the Inspections addendum that you should have incorporated into your offer. With your agents assistance understand how it works and what your options will be as a buyer.

I believe it would be advisable to have a copy of a blank NWMLS purchase and sales agreement and usual addendum to read prior to looking at a single home and certainly before you present an offer to purchase.

While some of these items of discover will be specific to an individual property, many important factors can be explored even before you begin looking at homes. Issues like schools, proximity to work, medical facilities, emergency services such as fire departments, shopping and personal interest can help you narrow down your search perimeters.

Below I have listed some research tools that you may find valuable (It is not meant to be comprehensive in scope).
Sexual predator locations http://www.nsopw.gov They have a mobile app that you can download on your mobile devises that you can access from the field.

http://www.countyoffice.org/wa-thurston-county-public-scho…/ local school information, this site will map out for you each school and its location.

https://www.publicschoolreview.com/washingt…/thurston-county This site is set up to help assist you in evaluation of each school of interest. There are many other sites that can/will be helpful in this process.

Police and crime information regionally:
http://www.co.thurston.wa.us/sheriff/
http://www.ci.lacey.wa.us/Contact-Us
http://olympiawa.gov/city-services/police-department.aspx
http://www.ci.tumwater.wa.us/departments/police

Emergency Medical facilities:
http://www.co.thurston.wa.us/medic1/
http://www.co.thurston.wa.us/health/
If you want a map of locations and website links for Emergency Medical facilities in Thurston County, simply highlight the words in red, copy and paste them in your google browser address bar and enter. A map with locations and individual website information will populate for your consideration.

With the burden of discovery resting on you as the buyer, there are other resources you should be familiar with. Things like local zoning codes, environmental concerns, traffic issues, freeway access and much more you can research via the internet. Many of the regional answers can be found at http://www.geodata.org This is the Thurston County Planning department site with links to many other departments including the accessors office for property tax information and valuations. It also has maps for urban growth areas, wetland, critical areas (including pocket gopher issues) and adjacent property owners’ information. You will find this to be a valuable resource. If the perspective property falls within a specific municipality like city of Olympia, lacey, Tumwater or Yelm, please visit each of their specific websites for answers to your questions.

As you can see, there is much to do in advance to prepare you to make the best possible decisions. In condensed time frames, it could be likely that many of these important issues may be missed.

Again… if you have additional questions or would simply like more information, I am happy to offer a “no cost, no obligation” opportunity to visit about your specific needs. I can be reached in any of the following ways listed below.

I am wishing you the very best in all of your real estate endeavors in 2018.

Preparing to Sell

Selling your home doesn′t just mean hiring a realtor to stick a sign out front. There are a lot of preparations you should make to ensure you get the best offer possible in the shortest time.

Repair. Just because you’ve gotten used to the cracks in the walls and the rattles in the radiators doesn’t mean a buyer will too. If you have hardwood floors that need refinishing, be sure to get it done—hardwood is a huge selling point. Buyers like to snoop around, so be sure to fix any sticky doors or drawers as well. Finally, don’t forget to address any issues with the exterior—fences, shingles, sidewalks, etc. After all, without curb appeal, some buyers may never get to see the inside.

Neutralize. You want buyers to see themselves in your home. If your living room has lime green shag, wood-paneled walls, and all your collectibles and personal photographs, this will be much harder for them to do. Try replacing any bold color choices in your floors and walls with something more neutral—beiges, tans, and whites. Repainting and reflooring will make everything look fresh and new, and help prospective buyers imagine all the possibilities.

Stage. Once your house is clean and updated, it’s time to play dress up. Home stagers can add small details and décor touches that will bring out the possibilities in the various spaces in your home: lamps, mirrors, throw rugs and pillows, flowers, decorative soaps and towels, patio furniture. Home staging can be particularly useful if your home is especially old or if the exterior looks dated. Think of it as a little mascara and rouge—if it’s done right, you notice the beauty, not the makeup.thinking of selling