#freehomebuyerclasses

[traciedemars]

New Year...New Home...Maybe?  How/Where to Start? Real Estate Education Upcoming Free (& non-promotional) Home Buyer Classes:     Saturday, January 11th, from 9am-12pm (ish)             Marshall Community Center, conference room             1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Monday, January 13th, from 5pm - 8pm (ish)        Marshall Community Center, Conference room       1009 E McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Saturday, January 25th, from 11am-2pm (ish) ​       Vancouver YMCA, conference room       11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave).                                                                                            If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something o ut that works better with your schedule.  Just let us know....                                                                                  ....we also have home seller classes available too...link on left on website                  Remember...with reservation...we will throw in lunch, or dinner!  :-D ~~~~~~~~~                                                                     Happy New Year!   First I want to thank everyone for attending the Client Appreciation events!  Frozen II, and Star Wars:  The Rise of Skywalker was pretty awesome, and we loving hosting these events for you.  Just our way of saying Thank You for allowing Chris Berg & I to be a part of your home adventure.     Happy New Years!  :-)  2020  Is it just me, or was 2019 a bit bipolar?  It was a bit of a rough year, but now we move forward, and every day is a new start...thankfully!  You know, I remember being told that that time goes by faster as you get older.... I am here to tell you that it really is true.  I guess we all need to listen to Dr. Who, and to stop blinking!!!  ....sigh...      I hope you had a wonderful Christmas with friends, family, and food.... holiday food really is the best.  With the new year starting though, a lot of folks start thinking about new things, and resolutions.  I'm not a fan of resolutions... unless they are to eat more bacon, read more books, crochet more blankets, or help folks buy (or sell) a home.... those are about the only resolutions I can keep!  Do you have resolutions?  Do you keep yours?     The holidays are really about family & home, I think.....having friends & families over for the holidays, or going to someone else's home for the holiday celebration...add that to the new year, and new beginnings and many people start thinking about the next big step.  Is it time for a new home?  Maybe your current home is too small for your family now, and it's time for  a bigger home?  Maybe your family has become smaller and it's time for a smaller home?  Or are you renting your current home, and want to be a homeowner? Purchasing a home, whether it's your first home, or you've owned homes before, is one of the four BIG steps we take in life.  What most folks don't know is where to start, and what questions do you need to ask yourself?  What questions do you ask a lender? A Realtor?  What about classes?  There are SO many right now (it's because it IS the beginning of the year), but how do you KNOW which one is going to give you the best information?    There are definitely some questions you should ask....Let's start with questions to ask yourself....  Bonus Answer.... What if I have a home currently, but want to get a new home?    I bought my first home in 2001.  It was an amazing time for my family, and while we made quite a few mistakes in the purchasing of the home (we went through a builders representative and didn't have our own Realtor), it was still exciting.  I started working for a builder shortly after we moved into our new home, and boy...was that an education.  A few years later we thought about selling, and buying a new home, but were not sure how that would work.   I mean....how do you buy a new home if you are IN the old home?  How would that work?  So we didn't.... we stayed, and that was ok as I was leaving the builder and working real estate outside of the builder by then...and it was best to stay put as the market was starting to slide...hello recession.  I started teaching home buyer education classes because I remember how lost I was when I purchased my first home.  I mean...  believe it or not, but I did take a class before I bought...it was a very LONG class, and they used a booklet that made ZERO sense to me, so it was no help whatsoever.  I wanted to teach classes that made SENSE, and that used the paperwork that people would actually see when buying a home....that was 15 years ago.  About 7 years ago, as the market was heating up from the recession, I had a client call me asking this very question...  HOW do they buy a new home when they own a home already?  How do they sell their current home?  What about paperwork? Agents?  Fees?  Marketing? How do they set up, or handle showings?  How do they sell, and buy at the same time?  So....  we came up for a class for that too.  www.freesellerclasses.com, for upcoming classes, and YES, THE FOLLOWING ANSWERS STILL APPLY TO YOUR SITUATION TOO.  You can always call me with questions too...  I'm always here to help... #1...  Do you have a steady income? When you decide it is time to try to buy a home, a lender is going to want to see a steady income.  Have you been on your job for at least 6 months?  Were you working before that?  Was it in the same industry?  If you weren't working before your current job, were you in school?  Were you in school for the occupation you are in, or something similar?  Are you self employed?  Do you have at least 2 years of 1099's and tax records to prove your income?  These are all questions a lender will ask, and need answers to.  Want more information on this part?  Contact Chris Berg at Cardinal Financial for answers.  He can be reached at Chris.Berg@cardinalfinancial.com, 503-320-0925.  Don't let the 503 number fool you....he is local.  :-)Owning a home is usually a bit more expensive than renting.  With the rising costs of monthly rent, your rent and mortgage payment may be about the same, but owning does have a few more expenses.  When you rent, and something breaks, or has an issue, you call your landlord, or rental management company, and eventually things get repaired.  When you own a home, YOU are the landlord, and so you need to budget for those home repair issues that will come up.  Take $20 from each check and have it automatically deposited in a credit union or financial institution of your choice.  Do not have a check book or card for this account.  This is your home maintenance fund.  You know I love the home warranty, and remember that you can continue it year after year.  Use this fund to pay for that next year of the home warranty.  However, remember that the home warranty does not cover roofing, windows, walls, flooring, or siding.  This account should also be used to maintain and take care of those items as well.  #2...How much debt to you have?This is a big one.  We all have debt, and don't get me wrong....I think Dave Ramsey is a good guy with many excellent ideas, but there is one area that he preaches that actually hurts you in the pursuit of buying a home.  The idea of a cash based living style is wonderful, but when it comes to buying a home this will actually hurt you.  Strange as it is, having NO credit is worse than having BAD credit!  Some debt is actually good....not a lot...but some.  A lender will base the amount of your pre-approval on how much income you have vs how much debt you have.  Your mortgage payment can only be a certain percentage of your disposable income which, in a nutshell, is your income minus your debt.  Some debt is good because it gives you a history of payments.  Are you credit worthy?  Do you pay your debts?  Do you pay those debts on time?  Are you reliable?  Too much debt is bad because the ratio of your debt to your income is too high.  When you are applying for a mortgage, that is (for some of us) the largest debt we will ever carry.  How do lenders know if you will pay back that debt?  They will look at your credit score...which is determined by how well you pay your current debt.  This kinds of leads me to our next question. #3...  What is your credit score?Ah yes...the dreaded credit score!  In the upcoming weeks we will spend some time talking about credit scores...the good, the bad, and the ugly.  For right now though, a credit score is based on your credit history.  It tells the lender a story about your reliability of repaying your debt.  Frankly, at some time, we all have credit issues...or at least most of us do.  Many moons ago, when my husband and I were in the early years of our marriage, we had 'issues'.  We had 2 young children, and a ton of medical debt.  When our son was a baby, we declared chapter 7 bankruptcy.  At the time it was the only thing we could do.  My husbands wages were being garnished, and we couldn't even afford diapers.  We were, in a word, BROKE...and only going broker.  So, we made the decision to go bankrupt.  It was, looking back at it, really the best decision we could have made.  After the discharge, we took it upon ourselves to learn about how 'this' all works.  I think they should teach budgeting, and credit in schools.  This lack of understanding gets a lot of young adults in trouble....of course....just like everything else here this is just my opinion  :-)  So, we learned, and we made better decisions, and choices.  We learned to live within our means.  We learned to stock up, and save.  We went back to school to better ourselves, and our situations so we could provide a better life for (at the time) two children.  Our oldest daughter, and our son in law had a baby this year, and like most young couples they are broke. I guess it is where most of us start. She *barely* remembers what it was like when she was very young.So about that Credit Score....A credit score is based on what type of credit you have, if you make your payments on time (late payments ding your credit score), how much credit you are carrying, and if you pay off your credit in a timely fashion.  Do you have a car loan?  Do you make the minimum credit payment, or more?  Have you paid off a debt?  If you have paid off a credit card....don't close the account because closing the account can hurt your credit score.  Cut up the card if you want, but keep the account open.  Do you have high credit balances?  Lenders don't like to see this because if you have high credit balances it means you have less credit to draw on in case of emergency, and let's face it, we all have emergencies sometimes.  In short, a credit score is based on your past credit history, and lenders use this number to determine how risky it is to loan to you.  With lending...it is all about risk.  They prefer to loan money to individuals with reliability.  They don't want to loan money to individuals with a high risk...someone who most likely won't pay back the money.  So what can you do if your credit score is somewhat, less than stellar?  Call your lender, or call Chris.  They can go over your credit report with you, and point out the areas that you need to address.  They can, and should, actually HELP you to understand your credit report, and should be able to give you some steps to take to better your credit score.  Is it hard work?  Yes...but the end result is absolutely worth it.  It may take some time, but if you do all the steps, we can....and will...help you find a home.  What is 'good' credit?  Most loans will want to say a 'mid-score' of at least 620.  There are three credit scoring companies, Equifax, Transunion, and Experian.  The lender will use the middle score of the three.  The better the credit score, the lower your interest rate for some loans as they have determined you have less risk. With a few loans, you can go as low at 580 on your credit score, but there are some 'hiccups' with that.  The majority of loan programs, especially the loan programs that help home buyers with downpayment will require a 620 mid score to loan money to buy a home.     #4... Do you have a down payment?  Do you need help with one?There are still a few 100% loan programs for those without a down payment, but there are a few strings for these.... mainly location, or being a member of the military.  Surprisingly, you don't have to be a first time home buyer for these programs.  What if you are a first time home buyer thought?  Well, there is quite a few down payment grants & loans out there that can help with that.  Yes, there really is!  Many lenders, and classes will talk about one...maybe 2, of them...but there are some grants to help with your down payment too.  No lie...  There are also other ways to come up with a down payment....401k, 'gifts', tax refunds, etc.  All of these options (and the pros/cons of each) are discussed by Chris Berg at the free & non-promotional home buyer education classes. However, and this is VERY IMPORTANT, remember that you do need money for a earnest money deposit, the home inspection, and the appraisal though.  Anyone who tells you that you don't need any money to buy a home is blowing smoke.... *and I'll let you finish that*   #5....  Have you taken a home buyer education class?Buying a home, whether you have a home already, or are a first time home buyer, is a tense, exciting, thrilling, fun, and yet scary time for everyone.  These classes are about 3 - 3 1/2 hours long and will go over the entire real estate process & what the papers all really mean to you.  The lender will go over the entire loan process including closing costs, down payment loans/grants, and the loans (including the 100% loans), the pros & cons of each (not just the good stuff, but the things you really do need to know too) , credit (and help to get you there), interest rates, and more.  The real estate portion will help you understand the steps, the questions to ask a Realtor, inspections, appraisals, earnest money, and what all those papers involved in an offer really mean.  The classes are free, non-promotional, and taught at community centers for your convenience.   Before you talk with a Realtor, or a lender, and definitely BEFORE you sign any papers with either a Realtor or a lender... TAKE A CLASS.  A home buyer education class should be your first step....not the last one.  When you call to rsvp for a class.... ask how long the Realtor and lender have been teaching classes.  Ask how long the Realtor has been licensed.  Ask where the classes are being held at....are you going to a lender office?  A real estate office?  What will they go over?  There's nothing wrong with taking more than one class too..  Buying (and selling) a home are some of the biggest things that you will ever do.  The only thing that will cost you more money is having a child....and wouldn't it have been nice to have a handbook for that?  :-D                         Information is power, and I hope that I am able to help you.  Good luck, and as always...May the odds be ever in your favor out there....  If you are looking for a real estate agent, I would love to be able to help you.                                                                             As always....this is just a quick overview.... please remember that your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  If you have any questions about this, or something you have heard...or if you would like me to help you with your home adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help! Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers.   .   ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings...   Next Week:   Interview Questions to hire a Realtor, or How long is the home buying process aka WHEN do I get keys?                             Last Week:   Winter time & buying (or not) buying a home                                                                              Have a great day, and I will talk to you soon,   ;-D   Tracie DeMars   Real Estate broker Re/Max - Van Mall   360/ 903-3504 cell   360/ 882-3600 fax     www.traciedemars.com traciedemars@aol.com “Interested in free and non promotional home buying or selling classes?  Go to www.traciedemars.com or www.learningtobuyahome.com, for upcoming classes, or facebook: Tracie DeMars Real Estate for my home adventure education blog.  Classes are now available for home owners thinking about selling their home.  Links are on the left. ""Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."       - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).

[traciedemars]

Water, and your Home...    Home Buyer Classes: Saturday, October 21st, from 11am - 2pm (ish)  11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave) Monday, October 23rd, from 5pm-8pm (ish)  Marshall Community Center, conference room 1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Saturday, November 4th, from 9am-12pm (ish) Marshall Community Center, conference room 1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Thursday, November 9th, from 5pm-8pm (ish) Marshall Community Center, conference room 1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something out that works better with your schedule.  Just let us know.... ....we also have home seller classes available too...link on left on website Remember...with reservation...we will throw in lunch, or dinner!  :-D~~~~~~~~~Another quick reminder that we have our Winter Client Appreciation coming up!  Chris Berg and I are honored to invite you to Star Wars: The LAST JEDI on Saturday, 12/16 from 3:30pm-6:30pm. Please let either me (traciedemars@aol.com) or Chris Berg (cberg@pcmloan.com), know that you would like to attend and how many adults/kids will be in your party.  We will send you the link to get your tickets, and make sure you are on the 'list'.  :-D   They are first come, first served...and no assigned seating.  Because Disney is anticipating a huge showing for this they upped some things on us, so this is the only movie event we will be hosting this winter.  In the spring we are anticipating hosting The new INCREDIBLES movie (FINALLY!!!), and hopefully the Han Solo movie as well.  Chris and I want you to know that we appreciate you!  We appreciate your trust, your friendship, and your referrals! Thank YOU so much for trusting us with your Home Adventure....whether you are Buying, Selling, or Refinancing...  we appreciate you.  So...come watch a movie with us!!  :-D .....and here comes the rain....  Actually, I may be in the minority here, but I love the rain.  Deep down I'm really a homebody.  When it's nice out we feel guilty if we are not out 'enjoying' it.  Nice weather is for doing 'stuff'....for working in the yard, for hiking, for going places, for exploring....for doing everything except what homebodies really love doing.  Homebodies....we love doing things like: snuggling on the couch, or blanket burrito ourselves next to a nice, cozy fire (inside), or wearing fuzzy socks & cozy pjs...maybe we're reading, or crocheting, or binging on Netflix...homebodies like to hole up inside our homes and bunker down...and the best part about fall & winter is that we don't have to feel guilty for doing so!  Yay!!!  I LOVE this time of year... October through December is my absolute favorite.  In fact I think we need to start talking Christmas soon...  Bring on the 'bad' weather because it's all good to me!!  LOL We are supposed to get a LOT of rain though this weekend so be prepared.  :-) This week I do want to talk a bit about rain, and water in our area because it is something we deal with here.  Every area has their 'things', but for us...it is water.  I had something else typed up regarding contractors and home repairs & upgrades that I was going to send out, but I think I will wait on that one just a bit.  The fall and winter months are excellent for rain, snow (in the mountains), for holidays, for snuggling on the couch (see a trend here?), and for a lot of things, but they're also good for home buyers and sellers.  We do live in an area with a considerable amount of rain, so doing a home inspection during the time of year when we do see the most moisture is actually a good thing for buyers (and home owners) so you can actually 'see' how the home does in time of rain.   During a home inspection, one of the things an inspector does is crawl in the crawlspace (better him than me!).  When the weather is wet, s/he is going to see things that they might not see during the dry weather.  Many areas where we live have a high water table so water in the crawlspace really isn't that uncommon, but it can be an issue.  Is it small amounts...soggy ground....under the visquean? Is it draining under the home from dirt at ground level ventilation areas that will need some correction?   Is there water actually sitting in the crawlspace that needs to properly drained to the low point drain under the home?  Does it need a sump pump put in to properly dispose of? These are all pretty common things we see during a home inspection and most of it is pretty quick and easy to remedy.  I was helping some clients sell their home about this time last year and during the home inspection their buyers inspector noted water in the crawlspace.  This particular home backed to a swampy area, and while my clients swore they had never had water under there before, they did this year.  We had a drainage expert come in to put in proper drains and a sump pump under the home to prevent it happening again.  This is always the worse case scenario...but not unexpected.  It's funny....I lived in Woodland for 20 years with a totally dry crawlspace even though my neighbor behind me had a sump pump, and the neighbor next to me had some extra drainage in their crawlspace.  This shows that even though one home might be dry...their neighbors might not be.  We recently moved to a hill in the Battle Ground area and guess what?  Yep.... I have a moist crawlspace! LOL  Ok....I'm laughing because 1) I felt someone cringe when they read 'moist' (even though I love that word), but 2) because Woodland, a flood zone, we had a totally dry crawlspace, and we live on a hill now, not in a flood zone, with a moist crawlspace!  It cracks me up...  It's just a little ground moisture so nothing sitting on top of the visquean (the plastic barrier under your home).  There isn't really anything we can do about this except keep an eye on it to see if we need additional drainage put under our home at some point.  Rain can also do a number on your siding...  if you have vinyl siding make sure that the pieces are all snug and overlap, you don't want water to get behind that.  Look for holes or penetration in your siding and seal those up.  If you have T-111, Wood, Wood composite, Shingle, or LP (a LOT of homes have these types of siding)...water is not your friend.  Look for areas of swelling where water may be getting soaked up.  This will occur on lower leading edges like the bottom of the siding around your foundation, or where the top gable /\ meets the side.  This is actually a pretty easy fix and is quite common.  One of the things you can do to make sure that water doesn't affect your siding is to keep it sealed with paint.  Siding like this really does need a good coat of paint every 5 years, but on those lower leading edges, keep them sealed with primer and paint.  If you have fiber cement, or hardiplank siding then you're still not in the clear.  This is a great siding, but again...keep an eye out for anywhere that water can leak in, and yes, you still need to paint this type of siding for protection too.  Your home inspector will be walking around and checking the siding out, along with other things.  Most inspectors start outside the home, looking at most of the things that I am going to be writing about here.... Gutters....let's keep those gutters cleaned out.  There are quite a bit of falling leaves and tree needles right now that can, and will get in there.  Those first good rains are going to show you which gutters need cleaned out.  As I type this I am noticing that the gutter end by my daughters rooms is overflowing.  I just texted my husband that it is going to need cleaned out.  Did you know that if your gutters get plugged and are overflowing it can do damage to the roof overhang wood...it can cause wood rot to the wood right there, it can also get plugged at the downspout and overflow into your crawlspace.  Yep, sometimes the water in the crawlspace doesn't come from the ground at all, but from a plugged downspout. Do you have skylights?  My house has two small ones.  This is a good time to make sure that the flashing around those is sealed tight... water leaking around skylights won't be noticeable for quite some time....and after it has done a bunch of damage to the roof plywood around those lights, and to the insulation in the attic, before you even see it in your ceiling or the ceiling openings for those skylights.  What about the roof?  When it is raining is an excellent time for the inspector to be looking inside your atticspace for any signs of moisture coming through the roof.  He will see signs of moisture on the roof plywood decking that might need addressed by a licensed roofer.  Don't forget that any wet insulation will be needing replaced too.  Another thing the inspector will be looking at is to make sure that the ventilation in the attic is open, and not blocked.  Is there moss on the roof?  This is pretty common to happen here....I mean, we have moss EVERYWHERE, but you don't want to see it on a roof.  There's a powder that can be sprinkled on the roof to help with that, a zinc strip that can be placed on the roof to help prevent the growth of moss, but one thing we don't  want is moss.  If, and when, you own your home, do NOT pressure wash your roof!  Oh my goodness...  don't pressure wash moss off your roof!   Use the zinc strip, or the powder, and then get up there with a stiff broom and brush off the dead moss if need be.  Pressure washing your roof actually shortens the life span of your roof by washing off the granules that protect it from the elements....and for heavens sakes, do NOT use TIDE on your roof!!  Tide gets oils, and dirts out of your clothes, right?  What do you think your roof is made of???  I still see, and hear, about people using laundry detergent on their roof, and it just slays me.... How about stairs or decking?  During the rain is a good time to see how slick those might be....I don't know about you, but I can't even count how many times I've slipped on decking in the rain while out showing homes. I know that grace isn't my strong suit, but they can be slick.  Other things that can be noted about a home during the fall/winter months...  Are there any areas of water pooling around the home?  How does the home hold heat?  Wood framing around windows are caulked and sealed, or is there wood rot?  Does the nearby water run off run towards the home, or towards the street?  We live in the land of liquid sunshine, and there is no reason to fear it.... let's embrace it!  Our homes are built to protect and shield us...from the world, and from the elements.  We need to help it do it's job by taking care of it.  Most items that come up during a home inspection are pretty simple repairs, and there aren't too many that are very expensive, but over my years of helping people buy and sell homes I have noticed that it gets more expensive to fix the longer you wait to do it.  Little things can, and do, often tsunami into BIG things.  As a home owner, it isn't a bad thing to occasionally have a home inspected.  Call your inspector (or call me...I have some numbers), and ask them to come out to look at your home.  You don't have to be buying, or selling, a home to have it inspected.  Some times it is nice to have a fresh pair of eyes come through to catch those 'little' things before they become 'big' things.  Some other things that are good to do to a home during this time of year:  change out batteries in your smoke detector, caulk around windows (inside & out), put some Moss B Gone (or similar product) on your roof to prevent moss growth, clean out those gutters, clean & vacuum out your wall heaters, have your furnace serviced, have your chimney swept, make sure you have a chimney cap on your fireplace chimney, check the screens on all your crawlspace vents so that you don't get animals underneath your home (please make sure you don't already have animals underneath there first!) check the screens on all your house vents so that you don't have birds getting in there during the spring (unless you want to be a birdies godmother/father?), check your atticspace for signs of wetness & to make sure all your vents are properly venting outside, check your crawlspace for water either ground or leaks (a good idea is to run all your water in your home first...like the sinks, tubs, and flush the toilets) & to make sure that your under the home insulation isn't torn down because of animals, go around your home and pull back any dirt or bark dust that is sitting up against your siding or your crawlspace vents..... prepare your home for the upcoming fall/winter.  One thing about crawlspace vents...  a lot of times I will see homes with those Styrofoam blocks in the vents... this is not necessarily a good thing.  If we have times of extreme, prolonged cold then those blocks can be helpful (think December 2008), but our area is pretty temperate and they're really not needed...and especially not year around.  My favorite home inspector likes to tell people that, "a home is a living, breathing organism.  Just like you and me, it needs to breathe."  The vents around your home allow it to 'breathe'.  Because we do get so much moisture around here, allowing your home to 'breathe' can help prevent the dreaded 'M' word.....no, not Moist.....MOLD.  Mold occurs mainly in moist, stagnant, humid areas.  If you are going to use the Styrofoam blocks then remember to, 'install in fall, remove in spring'. Don't fear the weather, and the time of year, when buying a home... every year, the best time of year to be a buyer is always going to be October-February...before the spring crush. As always, I hope this helps!  Please feel free to call, email, text, or facebook with any questions.  I think I covered everything...but I'm sure there are things I forgot.  I've been down with that sickness all week so I've been dating Nyquil & Dayquil.  I think I'm on the road to feeling better though...or at least I hope I am!  What can I do to help you today??? Information is power, and I hope that I am able to help you.  Good luck, and as always...May the odds be ever in your favor out there....  AND If you are looking for a real estate agent, I would love to be able to help you.  As always....this is just a quick overview.... again...and I can't say this enough...please remember that your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  If you have any questions about this, or something you have heard...or if you would like me to help you with your home adventure, please call, email, text, or facebook me anytime.  I am, as always, happy to help! Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers.  ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings... Upcoming Topics: Flash vs Bones...what should a buyer be looking for in homes? Last Week: Home Buying Down Payment information Have a great day, and I will talk to you soon,  ;-D   Tracie DeMars Real Estate broker Re/Max - Van Mall   360/ 903-3504 cell   360/ 882-3600 fax   www.traciedemars.com   traciedemars@aol.com Interested in free and non promotional home education classes? Go to www.freehomebuyerclasses.com for local upcoming home buyer and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog. "Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be." - Shel Silverstein, American poet, cartoonist and composer, (1930 -1999).

[traciedemars]

Holy Price Reductions!  (home education for Buyers/Sellers) Upcoming Free (& non-promotional) Home Buyer Classes:

Saturday, August 17th, from 9am-12pm (ish)       Marshall Community Center, conference room       1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)

Tuesday, August 20th, from 5pm - 8pm (ish)        Marshall Community Center, Conference room       1009 E McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Saturday, August 24th, from 12pm-3pm (ish) ​       Vancouver YMCA, conference room       11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave).

If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something out that works better with your schedule.  Just let us know....                                                                                  

....we also have home seller classes available too...link on left on website

                 Remember...with reservation...we will throw in lunch, or dinner!  :-D                               ~~~~~~~~

Happy Sunday!Sweet Summertime....  Sorry about the email/blog silence lately...  in June, Chris Berg and I started a radio ad on 102.3 & 620, and they needed some analytics from the running of that for awhile.  We didn't want to mess it up with analytics from the email/blog.  It's been so weird not sending this out for awhile though.  Always remember that if you ever have any questions you can always email, call, or text me anytime.  I am always here to help.  I also have all of these on the blog page at www.learningtobuyahome.com too.  You can also browse through those too.

Now... the Clark County Fair starts this Friday!   The fair runs from Friday, August 2 through Sunday, August 11th.  Chris Berg and I will be at the Clark County Fair again this year... because we are crazy.  Please, stop by and say, "hi!" to us... it is the one thing that keeps up sane while we are there.  It's a long 10 days and we will be there EVERY day.  I will be at the booth (inside the cool big exhibit hall, second booth to the right of the main doors) from 10am-4pm, and Chris will be there from 4pm-10pm....  EVERY DAY.  So, please... stop by... talk to us... help us preserve what little sanity we have left.... AND … tell us you saw/read this post AND we have something pretty cool for you. Why? Because I went a little crazy on the promotional items, and I need to get them out of my garage so I can park in there again before the weather starts to turn.  Help a gal out...  

 So this week let's talk a bit about the market...  I've have a few people ask me if the market is starting to 'turn'... and my answer is a mixed bag.  First things first....it's summer, and weather has a LOT to do with real estate, which is kind of weird, but there is a reasoning behind it.  The BEST months of the year to be a buyer is always going to be the winter months of November, December, and January.  There are couple of reasons for this ….  weather (cold, crappy, rainy, and sometimes snowy), and the holidays.... not many folks want to be out looking or selling during the holidays.  Because of these reasons, home typically 'sit' on the market for a bit longer.  This is good for buyers because it gives people time to think before jumping on a home and making an offer, and because the market is a bit 'softer' during these months, there are less multiple offer situations and more sellers are willing to pay some closing costs.  The down side of these months is that there aren't usually as many homes for sale on the market....this is an upside for the seller, as there is less competition for the seller.  The second BEST months of the year to be a buyer are JULY and AUGUST...  why?  because again....it's HOT, and surprisingly the hotter it is the less people are out looking at homes.  People want to go the lakes, rivers, and beaches when it is hot....they don't want to go look at homes.  Also, there is less buyer competition during these months because it is summer, and during that time of year there are additional childcare costs, getting ready for school costs, and vacations.  One of the pluses about the summer months over the winter months is that there is usually a lot more homes for sale during these months.  The craziest time of year to be a buyer is always during February through June as this is usually the busiest time as people have tax refunds to use for down payments (if you don't have one though there are programs to help with this), and closing costs.  February and June can go either way....depending on the year, but during this time there tends to be less homes on the market and a LOT more buyer competition so more multiple offers, homes sell for more than listing price, and sellers are less likely to pay any closing costs.  

 So what if you have a home to sell, and need to buy one too?  The summer and winter months are your best friend too.  The spring might be easier to sell, but as a buyer you will have a more difficult time with that 'sell my home first' contingency (more about this on an upcoming blog). The summer and winter months will give you a more solid buyer, and availability to purchase your new home with being contingent on the sale of your current home.     Does this explain the price drops you are seeing?  Yes... the market is always on steroids during the spring, and when people list during the summer they see this, but as the home sits on the market for a bit longer, the price drops start happening. For buyers this is good....  multiple offers are difficult for everyone, and many buyers need some closing costs assistance. If you are a buyer.... go look at homes when it is hot as hades out there...  it is a good thing!  

 The home market really follows interest rates  Interest rates went up for a bit, and the market softened a bit.  Interest rates dropped again recently, and that has helped some buyers with the amount they're pre-approved for.  Remember that you are pre-approved for a monthly home payment (not a purchase price).  The monthly home payment is directly related to interest rates....so as rates go up, a buyer is pre-approved for less.  I'm talking to my buyers right now, and reminding them that the home they purchase is really a 7-10 year home.  The market has been going up for quite awhile, but it's not skyrocketing like it was.    We see many more homeowners following the interest rates, and seeing home prices start to soften, so we are seeing more home inventory hitting the market....again... this is a good thing as it will ease up the low supply/high demand that caused home prices to skyrocket.    Please remember a couple of things....I might have been called a witch a time or two, but my powers of seeing the future are not very good. My magic wand is a hit and miss, and that silly 8 ball lies to me quite frequently.  All we can do is listen to the economists, watch and follow the trends, and rely of past economic predictions.

 Good news is that YES, due to higher inventory and lower demand and this infernal heat, we ARE seeing price drops.  We are also seeing sellers assisting with buyers closing  Is there a crash coming?  Not that anyone sees....no...  What the economists are talking about is a 'market correction'  where rising interest rates control the skyrocketing home prices.  When that is coming is anyone's guess though....   Please remember that your home is just that...your home.  While it is an investment...it's an investment in your future.  Owning a home is a long term investment.  

 Now for those of you who love this heat....  I am too fluffy, pale, and my hair is too frizzy for this kind of madness.... :-)

  I hope that explains this a bit, but if you have any questions, or comments please call or email me anytime!  I am here to help...

Your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  

If you have any questions about this, or something you have heard...or if you would like me to help you with your home adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help! Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers.   .   ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings...   Upcoming Topics:

Rules to seeing homes (for Buyers & Sellers)

Contingencies, Rentback, and Pre-Possession (oh my!),

Buyers Due Diligence, &....What happens after an offer is made?

Last Week:  What's in a mortgage & 'escrow'?

Have a great day, and I will talk to you soon,  

;-D  

Tracie DeMars  

Real Estate broker

Re/Max - Van Mall  

360/ 903-3504 cell  

360/ 882-3600 fax  

www.traciedemars.com

traciedemars@aol.com

“Interested in free and non promotional home education classes?  Go to www.learningtobuyahome.com for l

ocal upcoming home buyer and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.”

"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."    

  - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).

[traciedemars]

What’s in a mortgage payment & what is ‘escrow’? Home Buyer & Home Seller Educations

www.learningtobuyahome.com

  Upcoming Free (& non-promotional) Home Buyer Classes: Monday, June 17th, from 5pm - 8pm (ish)        Marshall Community Center, Conference room       1009 E McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Saturday, June 22nd, from 12pm-3pm (ish) ​       Vancouver YMCA, conference room       11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave). If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something out that works better with your schedule.  Just let us know....                                                                                  ...www.learningtobuyahome.com for seller class schedule....                  Remember...with reservation...we will throw in lunch, or dinner!  :-D ~~~~~~~~~Happy Sunday~ It's supposed to be in the 90's this week?  Blech....  I know that some people love the heat, but I may be too fluffy for the heat.  Thank goodness for Air Conditioning this week.  So, Chris and I get asked about closing costs all the time.  What are they?  How much are they?  What are they for?  How can you plan for them?   Buying a home will be the largest purchase you ever make.  The only thing that will cost your more than buying a home is having a child.  :-)  Like a child, you have to take care of your home though, and there is more to home ownership than most people realize.     Every month you pay bills, and your mortgage payment will most likely be your largest monthly expenditure, but what is it?  We will talk about how a mortgage payment works soon, but this week, let's talk about the five parts of a mortgage payment.   Now...what is all in your payment?    There are four parts to your mortgage payment...it is called a PITI payment.  What that means is Principal, Interest, Taxes, and Insurance.  For example, if my payment was $2000, my principal/interest portion would be about  $1300 a month, and the other $700 a month would be put into an escrow account.  Out of this account comes the homeowners insurance payment once a year, and property taxes are also paid from this account twice a year.  All of these fees are wrapped into the monthly mortgage payment.  Anytime you are using a FHA, or any government type of loan like RD (USDA), or the downpayment assistance programs & grants (like Home Advantage), these fees must be wrapped into the mortgage payment.   If you don't have a 20% down payment (like 99.9% people), then your mortgage payment will actually have FIVE PARTS with the fifth part being Mortgage Insurance. Another insurance that 'could' come out of the escrow payment is flood insurance.  If you live in a flood plain (I used to), then you will be required to carry flood insurance.  Flood insurance would be wrapped up into your mortgage payment, and be deposited into your escrow payment for a payment once a year.   So what's an escrow account?  Your escrow account, as mentioned above is the account that holds the money taken from your mortgage payment every month to pay for those parts of your mortgage that are NOT principal and interest.  Every year your mortgage company will evaluate your escrow account to be certain that they're collecting enough to pay for these items.  As property taxes go up (or down) based on home value, your home owners insurance should also change to cover your homes value.  If your values are going up, then the amount you need in your escrow account will also need to increase.  You will receive a letter from your escrow account every year to update you whether you have enough in your payment to cover escrow, or if you have too much in your escrow account.  If you have too much in your escrow account then you might receive a check, and new payment amount.  If you don't have enough forecasted in your account, then they will ask you to mail in a check to cover the difference, or your mortgage payment will be adjusted to cover the difference.   Mortgage Insurance vs Homeowners Insurance Mortgage insurance is different than home owners (sometimes called, Hazard) insurance.  In a nutshell, mortgage Insurance protects the lender in case you default on your loan, and homeowners insurance protects you & the lender in case something happens to the home....ie.. a fire, a tree falling on your home, a car driving into your home, burst pipes, etc.   Homeowners Insurance   Now, please remember, you do choose your insurance company!  One of the things I suggest to clients is to contact their insurance company after they make their offer and to do a couple of things...(1) Has there been any water of fire claims in the past 3-5 years on this home?, and (2) How much would the insurance be for this home?  Average homeowners insurance is about $500-$700 a year....again, it is wrapped up into your monthly mortgage payment so it is NOT another extra expense.  You do get to choose your company, and many companies will give you discounts for 'bundling' your policies...like, home, car, life, etc.  It doesn't hurt to call around for quotes.  Once you choose a company, you will want to request that your insurance agent send over an 'insurance binder' over to your lender. Property Taxes  Taxes are decided by the county, and are usually paid twice a year. You may get a copy of the tax bill, but again, it is paid by your mortgage company out of your escrow account.  I always get phone calls when these bills come out.  :-D  No worries...it is just for your records, and I encourage your phone calls!!  :-)  Please remember that 'Tax Assessed Value' is NOT market value.  Property taxes are assessed every year, but based off of sales from a year to two years prior.   Principal & Interest   Now...your principal and interest portion of your mortgage payment.  As we know a portion of your mortgage payment every month goes toward the principal amount that your borrowed to purchase your home, and a portion goes toward the interest that the lender is charging you.  In the beginning of your loan the smaller amount goes toward principal, and the larger portion goes toward interest...this eventually switches.  We all know the wisdom of making an additional payment every year on your mortgage to reduce your loan time.  Some banks will offer to take your payment in two week portions, and make your additional payment for you.  Honestly I don't advise this.....before you think I am crazy, this is the reason why....the bank actually holds your money and makes your additional payment at the end of the year.  This isn't the best way for you, really....  I always pay between $25-$100 extra on my mortgage every month depending upon our finances that month, but apply it directly towards my principal borrowed amount.  At the end of the year I have made that extra payment directly towards my principal, which is less money I can be charged interest on!  This will shorten my loan length considerably.  In the end I actually pay MORE on the principal amount than I would have if I had just made one extra payment.  My suggestion to all my clients is to take that $20 from each paycheck and put it into that credit union far away (with no debit card or checkbook for) that is for your home repairs that are needed as a homeowner.  If you just put at least $25 per month extra toward your principal loan amount you will also be shortening your loan time.  This sounds like a lot...but really is it?  It is a trip to McD's (for my family anyhow as we have 2 adults, a third grader, and either my adult son, and/or my adult daughter and her husband, and baby.), or a couple of Dutch Brothers trips a month...but it will help you in the long run immensely.   I won't lie... I love my Dutch Bros though.  :-)   So there are the 5 parts of your mortgage payment...Principal, Interest, Taxes, and Insurance...both Mortgage & Homeowners.....all tidily wrapped up into one payment every month..  Yay!  I kept it shorter this week!  :-D  It's like going to the grocery store, and only coming out with the items you went in for....ok, who am I kidding...that never happens!              Information is power, and I hope that I am able to help you.  Good luck, and as always...May the odds be ever in your favor out there....  AND If you are looking for a real estate agent, I would love to be able to help you.                                                                            As always....this is just a quick overview.... again...and I can't say this enough...please remember that your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.   If you have any questions about this, or something you have heard...or if you would like me to help you with your home adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help! Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers.   .   ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings...   Upcoming Topics: 55 things not to do when buying a home.                                  When is a pre-approval not a pre-approval?Last Week:  Types of Realtors & Compensation...explained Have a great day, and I will talk to you soon,   ;-D   Tracie DeMars   Real Estate broker   Re/Max - Van Mall   360/ 903-3504 cell   360/ 882-3600 fax   www.traciedemars.com   traciedemars@aol.com       “Interested in free and non promotional home education classes?  Go to www.learningtobuyahome.com, for local upcoming home buyer and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.” "Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."       - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).

[traciedemars]

Fees & Costs of Buying a Home Upcoming Free (& non-promotional) Home Buyer Classes:   ...we also have home seller classes available.  Link on left on website page Saturday, January 26th, from 11am-2pm (ish) ​       Vancouver YMCA, conference room       11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave). Saturday, February 2nd, from 9am-12pm (ish)       Marshall Community Center, conference room       1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College) Saturday, February 16th, from 12pm-3pm (ish) ​       Vancouver YMCA, conference room       11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something out that works better with your schedule.  Just let us know....                                                        Remember...with reservation...we will throw in lunch, or dinner!  :-D ~~~~~~~~~ Happy 2019~  Now that we are 2 weeks into the new year we can start to get a 'feel' for what this year is going to bring us..right?  ....or not...  It's definitely been a mild winter, so I guess we know that, right?  Let's be honest though....there's lots more winter to come, so it could change, and there's still plenty of this year to go as well.    Last fall was pretty slow in the real estate world, and we saw plenty of price reductions.  This winter was also pretty slow as well....  have we reached the plateau?  Have we reached that 'magic' place where the crazy sellers market balances out? This spring will tell the tale...  Spring is typically the 'busy time' of the year as people get their income tax refunds back.  Tax refunds are used a lot for down payment & closing costs by buyers, so that is when the market gets crazy.  People who are selling their home, now that they have a buyer, go out and look for a new home for themselves.  Spring is crazy...  this year though?  Well, first we have to see if people will get refunds, and then...  well, the good news is that we are seeing a lot of new homes on the market. I have 3 that recently came on the market, and 2 more hitting by the end of the month.  I have spoken with a lot of my agent friends and they're also getting a bunch of calls of people wanting to sell this spring.  So, now we wait to see what will happen with the tax refunds and, of course, interest rates. Interest rates follow the market...market goes down, and so does interest rates. Market goes up, and so does interest rates.  I certainly hoping that the market has reached that seller/buyer balance.  We saw that nice balance in 2014 & 2015.  Real estate typically runs on a 10 year cycle of highs and lows....with a couple of years balance in the middle. Don't forget though that the only things in life that are consistent are death and taxes, so my crystal ball is not to be trusted.     While showing homes, we go over lots of 'little' things that otherwise people don't think about.  Some of these items are the 'hidden' costs of buying a home....those things that you weren't planning on, but probably should be.    Not too long ago, I was on one of the facebook swap/free/sale sites, and I was reading how some people were upset with the home buying process and the 'hidden' fees they weren't told about.  It is true that there are a LOT of fees and other expenses involved with buying a home.  The point of these blogs, and of course, the home buyer classes is to give folks this information.  There shouldn't be anything 'hidden' about the home buying process.  As you know, I am a big fan of not sugarcoating anything....I believe that an ugly truth is better than a pretty lie every day of the week.  You might not always like what I have to say (and that is ok), but I am not going to hold anything back from you on the off chance you might not ask me to help you buy, or sell, your home.  Personally I don't just want to hear about the 'good' things about a loan, or process....I want to hear it all...the good, the bad, and the ugly, so that I can make the best decision for me and my family based on the pros and the cons....not just the good.  So....yes, I am not going to just agree with what you read on the internet, or saw on HGTV, or heard from your direct and personal circle....I am going to give you the pros and cons because this is YOUR home buying (or selling) adventure, and YOU need to make the decisions.  My job is to help you find, and have, all the information I can get you so that you can make those choices based on a full picture....not just half of one.     That all being said, let's talk about the fees you can expect and some ones you might not.  I am not including down payment, or closing costs as part of this.  That will be an email in the upcoming week(s).  These are mainly fees associated with buying a home.  If you are thinking about selling a home, or know someone who is, there are some fees you need to be aware of as well.  I will post that on my facebook page at:  Tracie DeMars Real Estate, or you can contact me.  I am, as always, happy to help! So what fees can you  expect?  There are three fees that will be needed upfront.   Earnest Money....earnest money is typically about $1000- $3000, but the more expensive the home means the more earnest money you will need.   Some banks (& builders) can request 1%-3% of the purchase price for earnest money.  With a bank owned property the bank will want a cashiers check.  With a regular sale, a personal check is fine.  The earnest money is deliverable upon acceptance of the offer, and not when the offer is written.  The earnest money is always made out to the title company and is refundable based upon the 4 legal reasons to back out. Inspection...the inspection is ordered after the offer is accepted.  Remember that the inspection cost is approximately $400- $500, and is non-refundable. You, as the buyer, will hire the inspector and they work for you.  You have 10 calendar days to have the inspection done, and respond to the seller.  Don't wait until the last minute!  Both you, as the buyer, and your buyers agent should be at the home inspection.  A typical inspection is about 2-3 hours long.  Make sure the fee includes the dry rot and pest report....  We talked about home inspections a couple of weeks/months ago, but let me know if you need it again....or... hit up the Facebook page:  Tracie DeMars Real Estate.  It should be there.    Appraisal...the appraisal is ordered by the lender, and the lender will put in the order for the appraisal.  An appraiser comes out to the home to verify the homes value for the bank.  The bank will only lend the dollar amount that the appraiser says the home is worth.  An average appraisal costs about $600 -/+ dollars, and is paid for by the buyer.  This is another non-refundable fee.  Neither you, nor your agent, will be present at the appraisal.  With the new laws that took effect a couple years ago, neither agent, nor anyone involved in the sale are supposed to have contact with the appraiser for fear we might 'taint' the appraisal, or affect the numbers.   If you are buying a home with a well then there may an additional fee for the well testing.  You don't have to do that, but as a real estate agent, I would definitely advise you to do it.  Some other inspections that a buyer can have done (at their cost) are a sewer scope & a radon test.  A sewer scope is where they send a camera down the toilet to make sure the sewer lines are open, and a radon test is a company checks for radon levels in the home.  This is always a good idea if you are considering a home with a basement, daylight basement, or a split level home.  The radon test can take 3-5 days.  Again, these inspections are at a buyers expense. These are the only fees a buyer should see before closing.  Being told another fee?  Call, text, or email me... Other fees? Changing out locks...I always advise my clients to change out the locks of their new homes.  Why?  Well, even if the sellers give you all the keys they have...there is not guarantee that there isn't more keys running around somewhere.  I used to change out my house locks every couple of years because my kids were always losing keys.  Finally....last year... I went and purchased the the house locks that have the key pad.  It is awesome!!  I don't worry about lost keys anymore.  Every family member has a code, and what is the best is that I can add and delete codes as needed.  So...go away for a couple of days, and have a house sitter?  Give them a code,and when you get back you simply delete the code. I tell you....worth it!   Mailbox key...yes, legally you are not supposed to copy the mailbox key, but a lot of people do.  Mail is not something you want to mess with.  Take your HUD form down to the post office, and have them re-key the box, and get a new key.  Cost is about $100, but for peace of mind...that isn't much.  When you are changing out locks, talk with the locksmith... she/he may be able to help with this as well.   Paint...you will probably want to paint some, or all, the rooms of your new home.  Each gallon of paint runs about $25.  Paint is the easiest thing you can do to make the home 'yours', and it's fun!  Paint can change the entire feel of a room, or home.  Personally, I am a fan of semi-gloss.  I like the shine to it, and most importantly, it cleans up easy....with kids and big dogs, this is my go-to. Minor repairs...during the home inspection the inspector will probably point out repairs that the home may need.  Some of these repairs may be cosmetic repairs that will be part of your 'honey-do list'  with your new home.  Remember that, at the home inspection, we are looking for any repairs that will affect the safety of the home, or occupants...or anything that may need a contractor to repair.  The 'big' areas that we usually see repairs for are roofs, attic spaces, crawlspaces, and siding.  These are the places that usually get called out during the repair process for a licensed contractor to come in  Remember that home inspectors are licensed for home inspections.  It is during this period that we will request a second opinion by a licensed contractor...who can give a better, more thorough inspection/repair for the item that the inspector called out.  All homes have some repairs that will need to be done by the (new) homeowner....it is part of being a homeowner.  Don't forget that the worst thing a homeowner can do is to defer maintenance.  If you need help with that, give me a call or email... I always have a 'guy' that you can call for help.  Anytime you need work done around the home that you can't do, give me a holler...I know people.   I tease, but it is true.  I know excellent contractors that will usually give you a better deal because I refer them out.  I refer them out because they do a good job...and give better deals.  Just like in Real Estate... referrals are the name of the game.  :-) Lawn supplies...did you come from an apartment?  Well, most likely now you have a yard.  You will need a lawnmower to start with.  There will be other lawn equipment that will follow...weed eaters, trimmers, wheel barrels, shovels, and a myriad other things that come with having a yard.   Appliances...don't forget that washer, dryer, and fridges don't come with the home.  If you don't already have these appliances then you may also be purchasing a washer, dryer, and/or a fridge. Just please, please, please wait until AFTER you get keys for the home before you go purchase these things. Curtains/Blinds...if your new home doesn't already have some then this may be on your 'to buy' list.  Sometimes even if your home does have some, you may want new ones.  Honestly, I have had very good luck with curtains at places like Target, or Fred Meyer, or even Wal-Mart.  I think I've gotten all my curtains from Target.  They have blinds as well. House Cleaner/Carpet Cleaner...when a home is vacant you know exactly what you're going to be walking into when your buyers agent (hopefully me LOL) gives you keys, but... when the home is owner occupied, you don't.  Yes, you can and will do a walk thru of the home before closing, but it will still be occupied.  In many cases, when the home is owner occupied the (soon to be) previous owner doesn't vacate the property until day of closing, or sometimes even a couple of days after closing.  With cases like this, you really don't know what condition the home will be upon closing.  We have to have faith that the (soon to be) previous owner will leave the home in a clean condition, but sometimes...well, sometimes, they don't.  Also, one persons idea of clean is not another persons idea of 'clean'.  :-)  Many times, whether the home is vacant or owner occupied, a buyer will book a professional carpet cleaning, or house cleaning after closing....simply for peace of mind.   Insurance...wait..you already have insurance, don't you?  Well...yes, you have mortgage insurance, title insurance, and homeowners insurance, but what about earthquake insurance?  You don't...  When I purchased my home my homeowners insurance included earthquake insurance.  About 10 years ago though we received a letter that no longer would homeowners insurance include earthquake insurance....why?  Because we live in the #1 high danger area for earthquakes.  Because of that earthquake insurance must now be purchased separately.  So, AFTER you buy your home, call your insurance company and add on earthquake insurance.  Cost isn't too much, but it is important....just in case.   Toilet Seats  Yeah, I know you probably didn't think of that, but really....if it were me, I would change out the toilet seats when you buy your new home.  Why? Well, since now you are thinking about it....I'm sure you can see why.  LOL  Toilet seats are not expensive, and really...having new seats just makes you feel better!  :-D     As always....this is just a quick overview.... again...and I can't say this enough...please remember that your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.   If you have any questions about this, or something you have heard...or if you would like me to help you with your home adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help! Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers.   .   ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings... Information is power,  and as always...May the odds be ever in your favor out there....  If you are looking for a real estate agent, I would love to be able to help you.  If you have any questions, or comments please get a hold of me anytime.  You can call, text, email, or even facebook me.  Please remember that while I mean these emails/blogs to be helpful, and educational, I am still hoping that you will call, or email me as I would be honored to help you with your home buying, or home selling adventure.   Upcoming Topics: Delayed Possession... What is this & what does it mean to you Interest Rates (information from Chris Berg,Cardinal Financial) What do I need to buy a home, Hiring a Realtor...questions to ask, What if I don't have a Down Payment? .....  &....What does an Agent do for me? Debt to Income Ratios....What is this? Last Week:  Winter Time & Buying (or not) Buying a Home Have a great day, and I will talk to you soon,   ;-D   Tracie DeMars   Real Estate broker   Re/Max - Van Mall   360/ 903-3504 cell   360/ 882-3600 fax   www.traciedemars.com   traciedemars@aol.com       “Interested in free and non promotional home education classes?  Go to www.freehomebuyerclasses.com for local upcoming home buyer and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.” "Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."       - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).

[traciedemars]

When is a pre-approval a pre-approval...and when isn’t it?

Upcoming Free (& non-promotional) Home Buyer Classes:

Saturday February 24th , from 11am - 2pm (ish)

        Vancouver YMCA, conference room

       11324 NE 51st Cir, Vancouver WA (off SR500 at 112th St & Gher Road)

Saturday, March 3rd, from 9am-12pm (ish)        Marshall Community Center, conference room        1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)

If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something out that works better with your schedule.  Just let us know....                                                                                  

....we also have home seller classes available too...link on left on website

                   Remember...with reservation...we will throw in lunch, or dinner

Happy Sunday evening....or Monday Morning...depending on when you see this.  :-)

  I want to start this week asking for YOUR pictures for a 2019 calendar.  At the Client Appreciation event this December, we are going to offer a calendar for this next year, but we don't want to just put together the boring, standard calendar with the pictures that everyone has.... we want our calendar to be yours... with your pictures.  So, email me your pictures... going hiking?  Send the picture.  Going to a fun local event?... send us a picture.  See a beautiful sunrise?  a stunning sunset?  something that just takes your breath away?  Email me those photos to

traciedemars@aol.com

.  I will put them on the 'Tracie DeMars Real Estate' facebook page, and those pictures with the most 'likes' will get put into the calendar, and the sender of the winning photo gets a gift card out of my 'gift card stash'.

So, what to talk about this week?  How about the current market pretty quick?  

  The market is pretty crazy pretty early this year.  The mild winter seems to have brought on the 'homebuying season' earlier this year.  Last year, the market didn't get crazy until mid-April, and we had a pretty hard winter.  What we also seem to have this year (as early as it is) is some volatility with the interest rates, and they have gone up quite a bit.  This is something that we have been talking about and hopefully preparing for though.  Spring season always seems to bring this up as the market heats up... just seems to have happened earlier this year.  

    What this means for you is that when you get pre-approved to make sure that your lender is taking into account that interest rates are pretty volatile currently.  Please remember that your lender can not lock in your interest rate until you are about 30 days from closing.  Interest rate fluctuations could affect your pre-approval, so if you have any questions...please talk to your lender.  

  A pre-approval is a snapshot of your current financial situation...as we have talked about in the past.  An actual pre-approval is where you have sat down with a lender and provided concrete evidence of your finances...  your last couple of paycheck stubs, your last couple of bank statements, your social security numbers to the lender for approval to pull your credit score, verification of employment, and of course, your last couple of years of W2's/tax information.  

  A pre-approval only means that, based on the information you have provided to your lender, that you 'could' buy a home if you find a home and get a signed around, agreed upon, purchase sale agreement.  It does NOT mean that you are guaranteed to buy a home... because sometimes people change their financial situation... and don't get a home.  DON'T change your financial situation!  Do not cut your work hours, and on the flip side... do not start working a whole bunch of overtime if you are using a loan program that has an income cap. Do NOT go buy appliances, or furniture. Do NOT go buy a new car, or a boat...or get any new loans.  NO new credit cards.  Do NOT quit your job.  Do NOT spend the money you need to buy a home....and yes, even if you are using a program that will help with your down payment, or closing costs... you still need money to buy a home...

Some things you Do want to do.. Please...by all that is holy... PLEASE continue to pay your bills...ON TIME!  I can stress this enough.  Paying your bills on time is 33% of your credit score.  Any questions on what you can/can not or should/should not do while in the process of buying a home?  Contact your lender...  

PLEASE use a local lender, someone you, and your agent, can contact...this is very important. 

  So, when isn't a pre-approval a pre-approval?  A pre-approval is like the golden ticket in American Idol...it means you are on to the next step...which is meeting with your Realtor and going out to find a home.  A pre-approval does not mean that you have won American Idol and that it's time to get groupies... it's just the second step in the process.  A pre-approval is never concrete... you still have to do your part in keeping it up, and keeping your financial situation the same, or better.  Until you receive keys from your Realtor...anything can happen.  There's a reason I don't drink much, my friend...it's because sometimes I think that if I start...I won't stop!     A non-approval is one that hasn't been verified by concrete evidence (those papers I mentioned above).  For some, a non-approval is one that hasn't been looked at by underwriters.  A non-approval is one that has been expired.  A pre-approval is consistently updated throughout the home buying process.  You get pre-approved... you meet with your Realtor....you find a home.  You make an offer (hopefully the offer gets accepted), but once the offer has been accepted, your Realtor sends the purchase/sale agreement to your lender.  At this point your lender will contact you to congratulate you on finding a home...and ask you to come in to sign loan disclosures.  Now that you have a signed around agreement to buy a home, your lender can actually start your loan.  This is awesome, and where your fabulous lender takes over to help you get that home.     If it has been some time since you got pre-approved, and you haven't found a home yet...or decided to wait ...now would be a good time to re-connect with your lender to check on your pre-approval, and update it.  Times...they are a-changing... as always.  

**as a quick reminder...all home buying adventures should START with the Home Buyer Education Classes.    Don't talk with lenders, and agents until after the classes so you know the questions to ask, what the paperwork means, and fully understand the process.  As always though...the classes are Free and Non-Promotional.  We are not there to promote ourselves or any 'special' agenda like some classes, and while we certainly hope you will call Chris or I, or both of us, to help with your home buying adventure, that certainly isn't the main focus of the classes.  :-)  We are, both of us, as always, here to help!

              Information is power, and I hope that I am able to help you.  Good luck, and as always...

May the odds be ever in your favor out there

....  AND If you are looking for a real estate agent, I would love to be able to help you.                                                                              As always....this is just a quick overview.... again...and I can't say this enough...please remember that your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.  

If you have any questions about this, or something you have heard...or if you would like me to help you with your home adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help!   Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers.     .   ..disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings...      Upcoming Topics: What happens after an offer is made? or  

                              When is the pre-approval, not a pre-approval?

Last Week:  Escrow Accounts?

Have a great day, and I will talk to you soon,   

;-D   

Tracie DeMars   

Real Estate broker 

Re/Max - Van Mall   

360/ 903-3504 cell   

360/ 882-3600 fax   

www.traciedemars.com

traciedemars@aol.com

“Interested in free and non promotional home education classes?  Go to www.freehomebuyerclasses.com for local upcoming home buyer and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.”

"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."    

   - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).

[traciedemars]

Pre-approvals...what they are, what they do, and how to get one! Upcoming Free (& non-promotional) Home Buyer Classes:

Thursday, July 13th , from 5pm-8pm (ish)       Marshall Community Center, conference room       1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)

Saturday, July 22nd, from 12pm-3pm (ish)        Vancouver YMCA, conference room        11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave)

Saturday, July 29th , from 10am-1pm (ish)       Marshall Community Center, conference room       1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)

If these class dates and/or times don't work for you, please let us know.  We understand that you have lives, and families, and work.  We will work something out that works better with your schedule.  Just let us know....                                                                                   ....we also have home seller classes available too...link on left on website                   Remember...with reservation...we will throw in lunch, or dinner!  :-D ~~~~~~~~~ Happy ...well, whatever day it is!  

What a week!  I started this email the day after the 4th, but then got caught up in Wedding stuff for my oldest daughter...who got married this past weekend, so honestly?  I have no idea what day it is!  The wedding was gorgeous...she was gorgeous, and I was TIRED!  :-D  However, it's a new week,  (I think?), and the weather is perfect.  Now that 'the wedding', is over the rest of us can concentrate on everything else!  :-D  So... what do you have going on?  Don't forget that the Clark County Fair is coming up starting August 4...and Chris and I will be there ALL 10 days!  Stop by and say, "hi" to us inside the exhibit hall....we are the 3rd booth to the right from the main doors.  

what are the steps to buying a home?  This is where it gets crazy because most of us just don't know....you just kind of 'fall into it'...  You meet up with someone, and like a whirlwind romance, next thing you know you are in a 30 year commitment called a mortgage loan!     So....if you are thinking about buying a home, what are your steps?  What do you need to know before you start?  

  Well, that is what the Free Home Buyer Education Classes are for!  ....that, and this weekly blog anyhow!  :-D  

The first step to buying a home is the home buyer education classes.     Did you know that more people will get education when buying a car than when buying a home? The classes are non-promotional, free, and meant to give home buyers a head start on the information they need to buying a home, and taking advantage of the state loan programs that are out there to HELP people buy a home!    Real Estate & Lending is all about 'verbiage' as we are 'taught' scripts to make things sound good for you, when in actuality...it may not be that great at all.  We do go over all of that, and try to make everything as clear as possible considering it starts off as mud.  :-)  As instructors of the classes we are volunteers, so while we HOPE that you will call us to help  you with your homebuying adventure, by no means do you have to.  :-) Buying a home, especially your first home, is such a big thing that sometimes it is hard to wait when we get the bug.  Buying a home is still the American dream, and gives us roots in a community.  It is the place where we raise our children, plant our gardens, paint our rooms, and show our personality.  A house isn't just a place of four walls and a door, but a home....and a place of dreams.  Knowing all of this as we do, when it comes to buying a home, patience isn't always our biggest virtue!    :-D  

  The second step in the home buying process is talking with a lender to  help you get pre-approved for a loan.     The reason why we say that talking to a lender is your second step is because while you don't go grocery shopping without knowing how much is in your bank account, you should never go looking at homes without knowing how much you can afford.  A lenders job is to pre-approve you for as much as they can, but that doesn't always mean that you can, or that you should, spend that much on purchasing a home.  We all have lives, and you don't want to be housepoor.  Make sure that you know your budget, and what is a comfortable amount for you to spend monthly on a mortgage.  Remember to make sure that you have enough for small things like eating out (ok....if you have my family it isn't a 'small' thing at all to eat out!), going to the movies, maybe going on a family trip....and let's not forget buying groceries and gas!  Also...as a homeowner, now you have other additional expenses and potential repairs to put aside for.  I always tell all my clients to put aside some money from every check into a 'special' account at a banking institution that you don't regularly frequent.  Maybe it is a credit union across town that is only open for 4 hours a day, but make sure you don't have a checkbook or a debit card for it.  It doesn't have to be a lot of money....maybe only $10-$20 per check, but this is your 'rainy day' fund...or really, the funds for any home repairs that will, eventually, come up.  Being a home owner does mean being prepared for home repairs that always happen at the worst possible time!  Home Warranties really are your best friend when buying a home...and yes, this is different than Homeowners Insurance (aka Hazard Insurance).  That will be a topic for another week. :-)  

  The rule of thumb though is to make sure that when you are looking for homes, after you get pre-approved, to make sure you are looking at homes with your buyers agent that you can afford, and not max out your budget!  

  Remember that not all lenders can access the downpayment assistance loans, so make sure that you are going through someone who can.  If you have any questions about that, please feel free to call, or email, Chris Berg @ Pinnacle Mortgage...503-320-0925 (he is local), and cberg@pcmloan.com .       When getting pre-approved, make sure to ask your lender if your pre-approval has already gone through the manual underwriters.  We are seeing more, and more people lately who, thinking they are pre-approved, go out and find a home, only to find out days before signing, that the manual underwriters are declining their loan!  This is terrible as this means that this family who have already packed up, given notice, and are ready to move....now have no loan, and therefore, no home!  I don't want that to happen to any of my clients, so as a buyers agent, when I am speaking with a lender, I always ask their lender if the buyers loan approval was sent to the manual underwriter, or if it is just a computer approval.  Having your pre-approval go through the manual underwriters, instead of just a computer approval, does take some more time, usually up to a week more, but in the end it is always better to be safe rather than sorry!  

  Please remember that your pre-approval is only good for 90 days, and yes, you will have to update it at the end of the process...usually when your file goes to underwriting for the final documents to sign.  Please continue to pay your bills (on time), please do not change work hours, please do not go out and buy appliances, do not get a personal loan for 'stuff for the house', do not go buy a car/truck/boat/etc.  If you have any questions, please talk with your lender first as all of these things can cause your loan to be declined...at the final step....which is awful for everyone.  Your pre-approval is NOT set in stone....  A pre-approval is a snap-shot of your 'current' financial situation, and if that changes...so can your pre-approval.  Your financial situation will be looked at by a myriad of different people, and scrutinized about 2-3 times by the underwriters...which are actually the people with the power.  Please remember to talk with your lender and real estate agent...we are here to help!  :-)  

  A pre-approval is good for a monthly mortgage payment amount...not a purchase price.  Your interest rate can not be locked in until about 30-45 days from closing/keys.  What this means is that the interest rate you are quoted at the time of pre-approval is merely a 'guesstimate'.  This part is always a bit strange, but your lender can't even start your actual loan process until you have a signed around contract on a home...signed (and agreed to) by the person with the legal authority to sell that home.  If interest rates go up in the process of buying your home, and your rate is not locked in, then your monthly mortgage payment will change...and so can your pre-approval.  

  Your buyers agent, and your lender should work together, and communicate with each other to help you through this process!  I know I say this all the time, but we work for YOU!  By working together we help you achieve your goal of your own home where you can kick your shoes off, turn on some football (ok, maybe that is just my house!), and relax!  A buyers agent and a lender should work together as a team, communicating with each other, and with you, every step of the way....that is what we are here for!  :-)  

I also asked Chris Berg for some information on this email... There are three forms of approvals that you will see when you purchase a home. Prequalification, preapproval, and approval.

A prequalification is not worth the paper it's printed on and most if not all sellers will not except a prequalification when you make an offer on a home. The reason for this is that a prequalification is basically just checking your credit but not verifying income or down payment or any of the other thousand things that can go wrong during the transaction.

A preapproval covers all the things they seller needs to see. Not only does it verify your credit but also verifies your income, tax returns, W-2s, down payment, employment and address history, and rent payments. A preapproval is what you need in order to make an offer on a home.

An approval is generally not achieved until you were under contract on a home. It verifies all the items in a preapproval but also includes the appraisal and preliminary title report on all borrowers and sellers.

In order to get a preapproval you need to bring your lender your last two years tax returns, W-2s, last 30 days pay stubs, ID, and two months bank statements if you have a down payment.

If you are seriously considering buying a home a preapproval, with most lenders, will not cost you any money and will allow you to deal with any issues well before you spend the money to make an offer on a home.

No animals were harmed during the writing of this email.

Thank you,   Chris Berg Mortgage Advisor with Pinnacle Capital Mortgage MLO-198082 503-320-0925 cell Cberg@pcmloan.com

Information is power,  and as always...May the odds be ever in your favor out there....  If you are looking for a real estate agent, I would love to be able to help you.   If you have any questions, or comments please get a hold of me anytime.  You can call, text, email, or even facebook me.  Please remember that while I mean these emails/blogs to be helpful, and educational, I am still hoping that you will call, or email me as I would be honored to help you with your home buying, or home selling adventure!  :-)

   As always....this is just a quick overview.... again...and I can't say this enough...please remember that your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus...we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  :-)  We are, however, hoping you will call and want us to help with your adventure.   Thank you again for your business and your referrals!!  ...and thank you for referring these classes to your friends, family, and co-workers. ....disclaimer...if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings... Upcoming Topics: What do I need to buy a home, Hiring a Realtor...questions to ask, What if I don't have a Down Payment? .....  &.... What does an Agent do for me?

Last Week:  Debt to Income Ratios... what is this?

Have a great day, and I will talk to you soon,   ;-D   Tracie DeMars   Real Estate broker     Re/Max - Van Mall   360/ 903-3504 cell   360/ 882-3600 fax   www.traciedemars.com   traciedemars@aol.com       “Interested in free and non promotional home education classes?  Go to www.freehomebuyerclasses.com for local upcoming home buyer and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.”

"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."       - Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).