Wednesday, March 18, 2009

Homebuyer Seminar

Are you in search of your first home?

This Saturday, March 21st from 8am to 1pm there is a Free first time homebuyer seminar - you are invited. It will be at Capital Financial Mortgage 841 Central Ave N, Kent

You will learn:
About the new $8,000 tax credit available to first time home buyers
How to get a zero down loan with state bond downpayment assistance
The ins and outs of credit
The ins and outs of buying a home
And lots more.

Please come! You will need an RSVP. Please RSVP to Karen Jackson, John L. Scott, 206-714-1384 or

Search for homes at: Http://

Tuesday, March 10, 2009

How much is your home worth?

We have heard so much bad stuff on the news lately. Home prices are down, we are in a recession, the stock market is crashing. It is all doom and gloom. Just remember, the news has to sell itself and bad news sells. It is not always as accurate as they portray. There are many different ways of looking at statistics.

Are you curious what your home is worth in this market?

It is best to look at this by area rather than the whole county or Northwest wide. One way to do this is to go to www.WashingtonRealEstate and click on your homes value. This tool will show you homes that have sold in your neighborhood recently.

A better way is to ask a local Real Estate Agent to do a market analysis of your property. The agent will actually compare your homes to homes that have sold and are active and pending within your area and with your same housing criteria.

I offer a free market analysis – I would be happy to help.

Karen Jackson
John L. Scott
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Monday, March 2, 2009

Top Reasons A Home Sells In A Buyers Market

The Top Reasons A Home Sells In This Market

Price is the number one reason. If your home is priced too high or too low it most likely will not sell. In this market you are competing against properties that are short sales and bank owned who just want their home sold. They are lowering the prices just to get an offer. Your home needs to be priced for the time frame in which you want to sell.

Location, location, location You cannot change the location of your home – it is where it is, but you need to price accordingly to your location. A home that is on a busy main road is going to sell for less than a home comparable in size and amenities on a lake.

The Real Estate Agent You Select
Selecting the right agent is very important. Do you trust him/her? Are they communicating regularly with you? What is his/her marketing plan to get your home sold? How much experience does he/she have? You are selling one of your largest investments – you want to be working with someone who has your best interest in mind and is working hard for you to get your home sold at the highest price possible.

Condition/Characteristics of Your Home
Are there items in need of repair or updating? Is your home newer or older compared to others in the neighborhood? Do you have a lot of upgrades? How is the street appeal? In today’s market, your home has to outshine the rest. Landscaping is very important and a clean appearance. How does your front door area look? This is the first point of contact and where the first impression is made.

How does your home compare to others listed in the neighborhood? How is it priced in relation to them? How many other homes with comparable criteria to yours are listed for sale? All of these questions are very important to answer. If there are just a couple listed for sale and your home is in great condition then your home is in a good position. If there are 20 other homes in your price range – you need to be sure your price accurately reflects your conditions and that yours outshines the rest.

If you would like more information on this subject, please call or email me.

Search for homes at:

Karen Jackson
John L. Scott

Tuesday, February 24, 2009

Bank Owned vs Short Sale Properties

Short Sales vs Bank Owned Properties

What is a Short Sale?
A short sale is a home that is being sold by the owner where the amount of money received for the sale of the home will not be enough money to pay back the full amount to the bank plus any fees associated with the sale. The seller and his/her real estate agent will have to negotiate with all lien holders to see if they will accept a lesser amount and release the lien. Many of these homes are in pre-foreclosure – but not all of them.

What is a Bank Owned Home?
A bank owned home is a home that has been foreclosed on by the bank. The bank now owns the home and is trying to sell it.

Pros and Cons of Purchasing a Short Sale property
The pros to purchasing a short sale property:
You can get a really good deal
You are helping someone possibly stay away from a foreclosure
There is a large selection to choose from right now

The cons to purchasing a short sale property:
The bank does not have to accept a short sale amount so your purchase is not guaranteed to be accepted.
You can waste a lot of time – short sale transactions can be very time consuming. Many times you will not have an answer of acceptance or non acceptance of your offer for a minimum of 15 days to 90 days or longer.
While spending time waiting – you could be missing out on another home or interest rates could increase and lower your buying power
Short sale homes may need some TLC – many of the sellers have just given up and not taken care of the home.
Sold as is – no repairs - The seller typically does not have any money to put into the home to get it to sell. Sometimes your loan will require some repairs to be made prior to closing. This creates a problem. The banks can or cannot pay for some items at closing but typically not.
If there is more than one lien the process becomes tougher.

Pros and Cons of purchasing a Bank owned home?
The pros to purchasing a bank owned home:
You can get a really good deal – they are typically priced substantially lower than the market so they can get an offer in 30 days
The banks have/will clear the liens and taxes prior to closing
There is a large selection of them right now.

The cons to purchasing a bank owned home:
They are sold as is – The bank typically will not do any repairs and will not let you do any repairs prior to closing.
Many of them are in need of some or a lot of TLC
If you are getting an FHA loan – it is sometimes tough to get the appraisal to pass if there are major items that need repair
The process could take 30-45 days – banks only work weekdays and can be slow at responding.

Please contact me for more information or any real estate questions.

Karen Jackson
John L. Scott
Search for homes: www.

Friday, February 20, 2009

Are you facing foreclosure?

Are you behind in mortgage payments and in jeaopardy of foreclosure? Do you want honest answers about your options? I can help

Does the new housing rescue plan help me?
Do you have an adjustable rate mortgage?
Do you have a negative Amortization loan?
Do you have questions about loan modification?
Are you unsure if doing a short sale is a good option for you?

Call me for a compassionate intelligent conversation. I want to help you.

Karen Jackson
John L. Scott/kms

Wednesday, February 18, 2009

Free $8,000 To First Time Homebuyers

Attention First Time Homebuyers – Incentives to buy a home

Have you heard of the new revised tax credit? The President has signed into law a bill that provides up to an $8,000 tax credit to first time homebuyers who purchase a home between Jan 1, 2009 and Dec 1, 2009. Best of all you do not have to pay it back. It is a gift.

There are other programs for first time homebuyers still available. There are still zero down loans – the USDA rural loan and state bond down payment assistance/House Key programs are still available.

Housing prices are low and interest rates are really low. Interest rates are hovering around 5%. It doesn’t get much better than this. There are homes you can purchase for approx $1,200 a month – that is cheaper than renting and in the long run you are gaining equity.

If you or someone you know would like more information, please feel free to call or email me. I would be happy to help you search for homes for sale.

Karen Jackson
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