Questions?? Questions?? Questions??

Short Sales? Foreclosures? REO Properties? Bank Owned Properties? HUD Repos? What kind of houses are these? Are they good Deals? Should I buy one?

VA? FHA? Conventional Financing? ARMS? 15 Year? 30 Year? What Down payment? Points? Buy Down? Closing Costs? Yikes, what should I do???

There are many opportunities and questions in today’s real estate market. I believe because there are also so many unknowns and choices that consumers are overwhelmed and fearful of making a decision. They don’t want to make the WRONG decision.

Our responsibility is to help you make the decision that is RIGHT for you. We are passionate about this. We want what is best for you. As professionals, we have been guiding home buyers and sellers through this maze for a long time. We are continually educating ourselves on the latest laws, trends, marketing ideas, and technology so that we can answer your questions and point you in the right direction.

If you are a buyer with questions or frustrations, let us help you with some answers. If you are a seller and need some counsel or want to know our marketing strategies, give us a call or email or visit our website. We consider it an honor to be of help to our neighbors and friends. Thank you.

Understanding Your Mortgage Interest Rate

Contributed by:

Lyn Bankowski

Alaska USA Mortgage

Years ago, a Mortgage Loan Officer had a basic rate sheet and from there, with a handful of adjustments, a rate quote could be provided quickly. That has all changed. Now rates are based on several criteria and are very specialized and personalized.

What will your rate be? There are always exceptions, but generally your credit score leads the way. Keeping your credit profile in order has never been more important!

Waiting For Home Prices to Go Lower Can Cost You Money

While it seems that waiting for the price of Whidbey Island homes to go lower before purchasing is a good idea, it may cost you more to wait than to purchase now. Trying to time the bottom of a market, to get the "best deal" is very hard to do. With interest rates at their lowest levels in quite some time, it is in the buyer's best interest to negotiate their best deal now and lock in the mortgage rate that is currently available. It is recommended that you visit with your local Whidbey Island lender and get pre-qualified at today's interest rate and go shopping for your dream home now instead of waiting for prices to go lower.

This video discusses and compares the differences of interest rates. Please feel free to call us with any questions or visit our Whidbey Island website for further information.

Renter's Insurance (part 3)

Replacement Cost vs Actual Cash Value

Most renters insurance policies are based on Replacement Cost Coverage. But, some are based on Actual Cash Value loss settlement.

Replacement cost coverage pays the cost to replace the damaged or destroyed item. For example, if you have a couch that you paid $1,000 for 2 years ago and it’s currently worth $400 used, it may cost $1,200 to replace. A replacement cost policy will pay you the $1,200 to replace the couch. An actual cash value policy will pay you the cost new, less depreciation. In this case, it may be $400 or even less.

Jewelry, Guns, and Antiques are usually handled differently. Check with your agent to be sure that you have the coverage you want. The time to have the discussion is before you need the coverage.

Coldwell Banker Koetje Real Estate and Koetje Property Management encourage you to talk to your insurance agent and make sure you have the proper coverage.

Contributed by:
Shelli Trumball
Cascade Insurance Agency