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Redmond : Real Estate Advice

  • All72
  • Local Info6
  • Home Buying33
  • Home Selling6
  • Market Conditions3

Activity 59
Sun Apr 7, 2013
Bob Savage answered:
What might be relevant is how the seller came up with their number: a prior appraisal, the builder's literature, on their own with no supporting evidence, etc. Your agent can inquire of the listing agent. ... more
0 votes 9 answers Share Flag
Wed Mar 13, 2013
Ardell Dellaloggia answered:
Depends where. I have owned 2 Pulte homes myself. One in Lake Mary Florida and one in Sacramento CA. I like them. Whether the house is worth high 500s depends on the land value that the house is built on. Sometimes yes...sometimes no. ... more
0 votes 5 answers Share Flag
Sat Sep 28, 2013
Dave Skow answered:
check with several ....go with the one you feel most comfortable / confident with in their responses ....another tip - try asking friends / co workers / neighbors for referals or email these referals ...often a lender that receives a referal will go beyond the call of duty to make sure the referal receives great service in order to make sure the referring party looks brilliant for refering them ... more
0 votes 6 answers Share Flag
Sun Feb 24, 2013
Alain Picard answered:
You can get some pretty good deals on homes that need upgrades. A lot of people won't even look at those types of homes so sometimes it is easier to get them at a discount. Just make sure you get a home inspection and make sure there isn't anything major that you will need to fix. If you have any other questions or you would like a list of homes for sale in your area just give me a call. I'd be happy to help. ... more
0 votes 6 answers Share Flag
Mon May 19, 2014
Karen Mcknight answered:
HI Divjain.m,

It sounds as if you have found a great option. Since the pond is a retention pond, it may not have water in it all year. You may want to check that out. Or, make sure you're okay with how it would look with no water in it. Most retention areas are designed to drain in 24 hours.

Just know, that if you have seen 15 or so houses in your area and price niche, you are the expert. You know the market better than anyone in your specific area and price range.

Warm Regards,
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0 votes 3 answers Share Flag
Fri Feb 15, 2013
Tim Moore answered:
Has your agent talked with the buyers agent and thinks the buyer wants out? A buyer walking away because a back up offer comes in for more than the primary offer is pretty rare and unless the agents think the primary buyer wants out, I doubt it would happen. If it passed the inspections it usually means the buyer is happy and they would have a good chunk of change in the deal already, appraisal fee, inspection fee, deposit, time, etc. A seller would be a bit foolish to tell a primary buyer that there is a secondary offer out there offering more and encouraging him to back out. The seller would run a risk of you both backing out and you backing out in the inspection period along with the delay of another 30days while you inspected. Unless the loan falls through I would say you have little chance. Always make your best offer sooner than later. Better luck on the next one. ... more
0 votes 4 answers Share Flag
Sun Feb 17, 2013
Mary Juhl answered:
I would recommend you speak an attorney. If you need a recommendation, please call me at 425.443.5353. If I am with a client please leave your name, phone and email. You may email me at ... more
0 votes 2 answers Share Flag
Thu Feb 7, 2013
Dan Tabit answered:
The future is anybodies guess. If you buy it and get on the board, you'll have a say whether the cap comes on or not. Rental caps seem like a good idea to some, but others get annoyed having to wait for their opportunity.
You might want to speak with some others who have been on the board and get a different perspective about the likelihood of the cap coming. It could be that some have wanted one for years, but they couldn't get the votes. Best of luck.
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0 votes 7 answers Share Flag
Wed May 13, 2015
Alison Hillman answered:
Hi there-

Take a look at the market trends here on Trulia:

Ali, Community Manager
0 votes 3 answers Share Flag
Tue Nov 27, 2012
Jason Hershey answered:
From an interest rate perspective, its a good time. Prices seem to have stabilized, but if you are concerned about home values staying steady for the next few years, you might consider renting vs. buying a larger home. If you plan on keeping the home for more than 5 years, buying probably isn't a bad idea. Redmond Ridge is a nice area. You might even consider Duvall (my hometown) if you want better prices. Commute times into Bellevue/Redmond/Seattle are similar to Redmond Ridge. There are negatives of course. Yell if you want details. You have an agent, so they can probably fill you in on the positives and negatives of different communities.
As for your current place. Take a look at craigslist and Seattle Times to see what rental rates are like. You can figure out if the rents will cover your existing mortgage. I wouldn't expect you have a lot of risk of having to pay both mortgages fully, for very long. If you can cover it during occassional vacancies, you can be a landlord. Its not hard to do if you are careful about getting good tenants. We have a Landlord 101 class coming up in Monroe in a couple of weeks. You can find info about the class on our website. And, you can view the slides and handouts from our class last spring on our site (link below). Good luck!
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0 votes 2 answers Share Flag
Mon Sep 17, 2012
Chuck Sparks answered:
Hello Aamruta,
Prices in deed are moving up on Education Hill largely due to a a decrease in affordable listings. Scarcity appears due to lack of sellers who can currently sell for profit. Many current home owners are still underwater on what they owe vs what the can sell for. Those who can have or are now currently re-financing and hanging on to existing homes. This creates a shortage in those areas in high demand and thus increase prices in that area.
I see similar situations in the more highly sought after communities and neighborhoods on the East side. I hope that helps explain what you are seeing as well.
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0 votes 2 answers Share Flag
Mon Sep 3, 2012
Dan Tabit answered:
I have to agree, the NW is more expensive than most other markets around the country. The good news is you will find some options in the price range you selected. I live in Sammamish which is SE of Redmond and due east of Seattle & Bellevue. Buses run every 8-10 minutes during rush hour to downtown. Kirkland, Redmond, Bellevue, Issaquah would all be good options with some varying character in each city. I've lived in all of them over my years here and would be happy to explain the variations each community offers. ... more
0 votes 14 answers Share Flag
Thu Feb 28, 2013
Ardell Dellaloggia answered:
A few details needed.

Single Family Home or condo/townhome?

Cash Purchase or with a mortgage?

VA, FHA or Conventional?

A lot of the costs involved in a closing for a buyer involve the fact that there is a mortgage, and different loan types have different closing costs.

Buying a single family home for cash has very few costs involved for a buyer.

The buyer's estimated fees will be:

$800 approx. escrow
$75.00 approx. recording
prorated taxes (could be a credit)
prorated HOA dues (if applicable)
prorated fuel (if applicable-usually only for oil heat)

The costs escalate dramatically if you are financing the home and the type of financing changes what those costs will be.
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0 votes 3 answers Share Flag
Wed Dec 17, 2014
Chris Loeliger answered:
Ash, different people have different emphasis they place on road noise. For instance, it really bothers me but my wife is less concerned with it. She would buy near a road and I wouldn't. It is that simple. So to her, a house near the road would have roughly the same value as a house farther away from it. Not so for me. Depending on the house, road, noise levels, etc, I would price it 10-15% less than the same house in a location that does not have excessive road noise.

Also, if it has been sitting on the market for some time, it seems that the price is too high. Perhaps the seller has some reason they are willing to let it sit longer. Perhaps they are just stubborn. Perhaps they are simply making a mistake. Regardless, I wouldn't get too hung up over it. Do your research with an agent to come to what you think is a fair price for that property based on the location, the fact that it has been on market for some time, how much you want it, the features, etc. Make your offer. You won't always get what you want, but at least write the offer and see if they will negotiate.

Each of the items that you mention may be an issue when you sell the house. But, that is the case for any property. It is not an investment that you can convert easily to cash (like a mutual fund or a stock) it takes time to sell and convert back to cash. It may sell immediately or it may takes years to sell when you sell it in the future. It is the same for every property. But, the proximity of this one property to the road may make it sit longer. So, the only way to make it sell faster in the future is to price it lower. What that means is that you have to make your deal now on the purchase side. Get it at the right price now and accept that it will also sell at a lower price in the future.

Good luck. If you need help figuring a value on the property, let me know.

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0 votes 4 answers Share Flag
Sat Aug 11, 2012
Jennifer Ohayon answered:
I would suggest the Rose Hill / Bridle Trails Area of Kirkland/Redmond. There are also a few very nice neighborhoods off Avondale Road in Redmond as well. Living in these areas would give you access to Lakeview, Rush and Mann Elementary schools which are GREAT schools in the Lake WA School District. I work with relocating buyers and after they really research the area, they always want these schools. I am a Realtor but I also live in this area and that's where I would suggest looking. VERY easy commute to Microsoft. You're looking at closer to $400-500k for a purchase price. $300-$400k will be very tough unless you want an older home or a fixer. This is a stable area for home values and is considered quite affluent area and a nice community.

If you are firm on the $350-450k price range you may want to look in Kenmore. Woodinville or Bothell. These cater to Northshore SD which is also a sought after school district. Bothell is also about to experience a revitalization of it's downtown / riverfront area which I beleive will help nearby home values in the next 2-3 years. However, it will add about 20-30 minutes to your commute to Microsoft.

I'm fairly certain that for biotech you're wife is likely going to be in Seattle. Most of the hubs are there. The good news is that Seattle is only about a 20-30 minute drive from these areas. Although I do have a anther client in biotech in Bothell and was told there are a few companies there. Bothell is about 10-15 minutes to Microsoft.

Let me know if you would like any more info, I'll try and help,
Jennifer Nilssen
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0 votes 7 answers Share Flag
Sun Feb 5, 2012
Kary Krismer answered:
My cautionary statement isn't that dire with only a $20k second, but note that in the event of foreclosure you would likely still owe the second. That's more of an issue with larger dollar second position loans. I suspect your plan is to pay off the 2nd fairly quickly. ... more
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Sun Jan 22, 2012
Alain Picard answered:
Yes you can as long as you qualify with the bank. The banks in the U.S. won't loan to people from certain countries that the U.S. don't allow them to loan to and the last time I checked India wasn't on the list. I just had home buyers with green cards so if you need any other information you can e-mail me or give me a call.

Alain Picard
... more
0 votes 5 answers Share Flag
Sun Dec 25, 2011
Stacey Lange answered:
I am sorry to hear of your situation. My first question would be did you have an agent represent you in the purchase? If so, I would discuss the conditions regarding the seller defaulting on the contract. I also might suggest that you contact a real estate attorney to discuss your options. I will gladly recommend a real estate attorney that I have had clients use in the past who could most certainly assist you -- please just let me know if you need that number.

Best of luck to you and sorry to hear of your situation.
... more
0 votes 12 answers Share Flag
Thu Dec 22, 2011
Dan Tabit answered:
Welcome to the area. Step one will be to work with a good local realtor and lender. Getting pre-approved is a critical step that almost can't happen too soon. There are many programs depending on your credit, area and other qualifications. FHA requires 3.5% of the purchase price as down payment, but not all complexes will qualify for FHA. Those that don't may be available for conventional financing with as little as 5%.
I have a series of blog posts about buying you can review and contact me for any questions or if you would like further assistance.
... more
0 votes 7 answers Share Flag
Thu Nov 17, 2011
Johnny Huang, MBA answered:
sure, why not? Broker's and agents need to be a bit familiar with financing options and availability.
0 votes 10 answers Share Flag
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