Archive for September 2005

Townhome Just Listed in Renton


I have more Homes avebale.

Please call me.

(206) 406-2710


19166 110th Pl SE Renton 98055
See Additional Pictures
Status Active Listing# 25135859 King County
Beds 2
Gas Fireplace 1
List Price 224,750

Year Built 1998 Townhouse

Covd Prkg. 2 Garage-Attached
SQFT 1194
Map: 686 Grid: D-2
Dishwasher, Dryer, Garbage Disposal, Range/Oven, Refrigerator, Washer

Interior Features : Bath Off Master, Ceiling Fan(s), Dining Room, Dble Pane/Strm Windw, Pantry, Security System, Vaulted Ceilings, Walk-in Closet

Location, Location. This wonderful town home has new red oak floors on the main level. The livingroom has vaulted ceiling and lots of tall windows. The diningroom has a glass sliding door to take advantage of the private back yard. Large kitchen with ample cabinets & counter space. This freshly painted home has a master bedroom with a large walk-in closet and a full bath. Also 2nd bedroom has it's own private bath. A 2 car garage,gas fireplace, powder room & much more. Come see it before it is too late.

Please Call me for more info.

(206) 406-2710

Lonnie Snyder / Keller Williams SE Sound
Lot Sizes And Square Footage Are Estimates.
Information From Reliable Sources, But Not Guaranteed.

What are the two most important factors when selling a home?

Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent,(Thats me) or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home's worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer.

In a down market, you may have to consider lowering your price and/or making a major repair, such as replacing the roof, in order to lure a buyer. Also, make sure that your home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage and a listing on the local multiple listing service or online listings provider.

If this isn't happening, take it up with your agent or agent's broker. If you are still not satisfied you are getting the service you need, you may have to switch agents.

Putting Your Home's Equity To Work.

Do you have idle equity sitting in your home that could be building wealth instead? One of the great aspects of homeownership is that you increase your wealth every month by building equity in your home and reducing your tax bill at the same time.After you've been in your home a few years, you may have some equity that you could put to work for you. Even if the property has appreciated by just a few percentage points per year, significant equity can build up fairly quickly. Just be sure you retain enough equity that you'll be able to pay a real estate agent's commission when you sell the home.
Home equity loans are the most common means of tapping a home's value. In states where home equity loans are not allowed, however, you can still put your home's value to work by refinancing it for more than you currently owe--a "cash out" refinancing.The first way most homeowners think of using their equity is to pay off high-interest debt. That's one popular option, but you could also invest that equity in other ways. Here are six more ways to put your equity to work for you.
1. Trade Up
Using your equity as a down payment for a larger home could make financial sense. If you're in a $200,000 home now and it appreciates by 5% each year, your gain is $10,000 for the first year. In five years, that home would be worth $255,256. But in a $275,000 home, that same 5% growth would be $13,750 for the first year. After five years, the more-expensive home would be worth $350,977-nearly $100,000 more than the less-expensive home.Of course, you may not be able to count on 5% appreciation every year. It could be higher or lower, depending on the state of the economy and market conditions. Not to worry, though. Even 2% appreciation will still add up over time.Using additional equity to trade up will allow you to put a significant amount of money down on your next home. That could allow you to own a home you never could afford before.
2. Downsize
Another way to use your equity is to scale down. With the recent changes in tax laws, homeowners may sell a home every two years and walk away with tax-free profits up to $250,000 (for singles) and $500,000 (for married couples). By scaling down, you can purchase a smaller, less-expensive primary dwelling, and use the extra cash for investments, debt reduction or even purchasing an investment property.
3. Investment Property
While the stock market often bounces up and down, many investors feel comfortable with the security of real estate. Not everyone has extra money to play the stock market profitably, but landlords can enjoy income every month. The secret is selecting the right property and finding expert property management if you don't want to manage the property yourself. We can help with both these issues."Some buyers have found it beneficial to purchase a property in the area where their college-age children are going to school. Their child can help manage the units and share the housing with other students to defray costs. The young adults learn responsibility and property management skills, and you have a live-in manager to watch over your investment.
4. Second Home
The real estate market has been fueled during the past few years by retiring baby boomers purchasing second homes. Maybe now is the time to purchase that home on the beach, at the lake or in the mountains. We can refer you to a knowledgeable agent in a resort area to help you with this move.If you know you're retiring to a particular area in the next few years, study that market now. You may want to buy the home now while prices are still affordable. If you do, you could rent the home during the peak vacation season. Many second homeowners discover they can just about cover their annual property expenses by renting out during peak season.
5. Shared Equity
Another way to put your idle equity to work is to lend it to an adult child as a down payment for his or her first home. Some parents maintain a co-ownership interest while the young adult makes the mortgage payments. At the time of the sale, the equity is then split between the two. This is called a shared-equity arrangement.
6. Remodel
If you really like where you're living, but desire a few more amenities, consider taking cash out for remodeling or adding to your current home. The interest paid on some home equity loans is tax deductible, just as it is with your first trust.

Are there programs for fixer-uppers?

If you need home loan to buy a "fixer-upper" and remodel it, look at the U.S. Department of Housing and Urban Development's Section 203(K) loan program. The program is designed to facilitate major structural rehabilitation of houses with one to four units that are more than one year old. Condominiums are not eligible.

A 203(K) loan is usually done as a combination loan to purchase a "fixer-upper" property "as is" and rehabilitate it, or to refinance a temporary loan to buy the property and do the rehabilitation. It can also be done as a rehabilitation-only loan. Investors no longer may participate - only owner-occupants. Owner-occupants are required to come up with only 3 to 5 percent. HUD requires that a minimum of $5,000 be spent on improvements.

Two appraisals are required. Plans and specifications for the proposed work must be submitted for architectural review and cost estimation. Mortgage proceeds are advanced periodically during the rehabilitation period to finance the construction costs.