Tips for Whidbey Island Home Sellers

Most Real Estate agents say spring is the season to sell a Whidbey Island home, but don't rule out fall just yet. There may be fewer buyers, but they tend to be more motivated. The key is to find them fast, because you don't have much time before the holidays kick in and real estate really slows down. Try these selling tips:

Price aggressively. You don't have the luxury of starting high and making incremental price drops. Be competitive - price your home 5% to 15% below comparable homes on the market.

Stage it to sell. Fall is one of the most beautiful times of the year on Whidbey Island, but it can also be hard on home maintenance. Make sure the front yard is clear of leaves, clean out gutters and downspouts, and touch up paint. Incorporate tasteful fall decor. If you have a fireplace, make it the focal point of the room.

Be flexible. Bargain hunters are out in force in the fall, so don't be discouraged by low-ball offers. See them as opportunities to negotiate. If you don't want to come down on price, be creative, such as offering to pay for closing costs or repairs.

Pre-Approval or Pre-Qualified. Which is Best?

Pre-Approval for a Mortgage or Pre-Qualified for a Mortgage. When negotiating for a home purchase, which is best.
Rick Schutte, the designated broker/owner of Coldwell Banker Koetje Real Estate, interviews, Lyn Bankowsi, senior loan originator for Alaska USA Mortgage in Oak Harbor, about this very important negotiating subject. If you are a buyer, you want to make sure that you have a pre-approval letter from your lender and if you are a seller, please ensure that the buyer is qualified by insisting on a pre-approval letter from their lender.

Please watch this short video for some interesting information from a highly qualified lender, regarding Pre-Approval vs. Pre-Qulification.

Life is a Journey, Not a Race

This has been a very interesting and informative week. I have been involved in a couple of real estate and property management conferences and I am now reflecting on some of the speakers and some news that I have heard throughout the week.

One of the keynote speakers had been a very well off and respected man who lost everything and became homeless. He has since written a book and now speaks and represents the Salvation Army, encouraging people like us to be involved with our homeless communities.

Another speaker was Famous Amos, the cookie man. He shared his watermelon story and enouraged everyone that we need to be involved, have a good attitude, and love others and ourselves.

A third speaker was a statistician who gave us plenty to think about regarding the economics of our country,our region, and our local areas. Great material.

Throughout all of this, a friend of mind was admitted to the hospital with lung cancer. The results of the tests and procedures she is going through were not very encouraging. This is really affecting my wife because the lady with the cancer is her best friend and my wife is really concerned. Yes, about the lady, but also about her family.

For those of you who know me, you know that I am a very competitive person. I enjoy good business competition because I believe it makes us all better in our business. After listening to these speakers and walking through this cancer with our friend, I have come to realize a very important life message. Life is not about competition, it is about living moment by moment and enjoying the trip. What I have discovered, though a lot of you probably already know, is that life is not a race but it is a journey. It is not to be run as fast as we can and when it is over we can look back and say, "Look how fast I got here". Who wants that? Let's slow down, enjoy the ride, give back to those that are around us and as Famous Amos said, "Let's love ourselves and those that are our neighbors." Sounds familiar, doesn't it? Life is truly a vapor, here a minute and gone. I wish each and everyone of you a peaceful and prosperous day. Enjoy this day to it's fullest, and don't worry about tomorrow. Tomorrow will take care of itself.

Oak Harbor Gated Community

Since I’ve been working with a family in Whidbey Links Estates, an Oak Harbor gated community in the heart of town, I’ve really come to understand why they love their neighborhood so much. Bill & Gina have a 2.5 year old son and another one on the way. Safety and convenience are really important since they both work in Oak Harbor and value their time with family. Who wants to spend an hour+ in the car commuting if they can spend that time with family instead? Since they live about 15 minutes from NAS Whidbey and about 5 minutes from many of the stores in Oak Harbor, life is easier and they spend more time doing fun stuff like playing with their son, cooking, golfing, photography and building model trains.
to view home click photo


Whidbey Links Estates is one of the few gated communities in Oak Harbor and the residents enjoy the added security of a gate and safety of living on a cul-de-sac. Many of the homes have a view of Oak Harbor’s golf course, Whidbey Golf & Country Club, and everyone has private access to the 6th hole via a gravel path from the end of their street. All that said, one of my FAVORITE features is the less than 5 minutes it takes Bill & Gina to walk to the park across the street. Ft. Nugent park is a 40 acre community park complete with 5 soccer fields, 2 football/soccer fields, a baseball field, basketball court, 2 volleyball courts, an 18 hold disc golf course, walking trails, a large community built playground and even a concession stand. This is the place to be if you’re a kid (or kid at heart).





If you’re interested in learning more about this Oak Harbor Gated Community, Ft. Nugent Park or the surrounding area please give me a call, email or visit my fanpage at: The Good Life on Whidbey Island. To see listings in this area go to: http://www.whidbeyrealestate.com/


Theresa Jones, Realtor. jones@whidbeyrealestate.com 360-969-6141

Bank Of America Halts Foreclosures

WASHINGTON (AP) — A mushrooming crisis over potential flaws in foreclosure documents is threatening to throw the real-estate industry into chaos, as Bank of America today became the first bank to stop taking back tens of thousands of foreclosed homes in all 50 states.

The move, along with another decision on foreclosures by PNC Financial Services Inc., adds to growing concerns that mortgage lenders have been evicting homeowners using flawed court papers.

Charlotte, N.C.-based Bank of America Corp., the nation's largest bank, said today it would no longer complete foreclosures in all 50 states as it reviews documents used to process foreclosures. That applies to homes that the bank takes back itself and those that it transfers to investors such as mortgage giants Fannie Mae and Freddie Mac.

A week earlier, the company had said it would only do so in the 23 states where foreclosures must be approved by a judge.

What Are The Advantages of a Short Sale in Real Estate

A short sale occurs when a property owner sells real estate for less than the property's loan balance. The property owner typically does this when he becomes upside down on the loan, meaning the property value is less than the loan amount. The lender must give permission for the short sale to proceed. In some instances, the lender forgives the unpaid amount, while in other cases the lender issues a deficiency judgment against the borrower after the short sale.


Lender's Advantage
•When a borrower defaults on a loan, one option for the lender is to foreclose on the property. During a foreclosure process, an angry homeowner might damage the property, refuse to leave or leave prematurely without making necessary arrangements for the care and maintenance of the house. With a short sale, the borrower initiates the process, and if the property is a home, he typically agrees to continue residing at the property. While the lender may receive less than the initial loan balance when the property sells in a short sale or after a foreclosure, the lender could issue a deficiency judgment after the short sale in an attempt to recoup the unpaid balance.

Borrower's Advantage
If a homeowner discovers she is upside down on a loan and needs to move and sell the property, one option is a short sale. In some instances, the lender will agree to forgive the unpaid balance after the sale. Other circumstances can prompt a short sale, such as when the property owner has lost her job and is unable to continue making the house payments yet cannot sell the property for enough to cover the loan balance.

Property owners often perceive short sales in a less negative light than a foreclosure. In some instances, the short sale may be less damaging to the borrower's credit, but it depends on how the lender reports the short sale on the borrower's credit history.


Buyer's Advantage
•Both a foreclosure and a short sale can be a bargain. But in a foreclosure, the buyer is purchasing from the lender, while the buyer is purchasing from the borrower in a short sale. When buying from the property owner, the buyer has more opportunity to learn about the property and receive a full disclosure. Lenders usually do not know the intimate details about a house during a foreclosure, such as, for example, a mold infestation the previous year. A property owner who is the seller is obligated to give a full disclosure on the property to the buyer. A homeowner would be less likely to do malicious damage to the property during a short sale, as opposed to a foreclosure, since he is a party to the transaction as the seller.


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By Ann Johnson, eHow Contributor