Urban Properties Real Estate Blog

Reviewing some of these handy articles below is very important for anyone looking for relief in mortgage modification or avoiding foreclosure. Facing such circumstances is extremely stressful for most people and knowing who to trust is key. What stood out the most to me in reading these articles was this key element: OVER PROMISING.

I have worked on dozens of short sales and in these situations we deal with the seller's lender through a negotiator who has worked on hundreds of such files. The goal we have is not mortgage modification at this point but to sell; however, our negotiator is directly dealing with the lender about the mortgage. Let me tell you, there is no extremely simple guarantee that the lender will make things smooth. Although in the

893 Views, 0 Comments

Don't be too alarmed if you make an offer on a house as if you just walked down the aisle to be married to a complete stranger who was very cute from afar but now you're not so sure. Inexperienced buyers have a quiet, or sometimes squealing, panic that sets in because their equally inexperienced Broker did not explain something very important: most often, if your Broker did their job, this stage is much more like a proposal until many more things are agreed upon. Think of it as gateways to owning that home. This offer and acceptance should only be the first.

Contingencies are other gates ahead of you...i.e. the sale is contingent upon x, y, and z happening within a certain amount of days, etc. The first one you should rarely skip is the inspection

724 Views, 0 Comments

Having owned six homes of my own at this point in my life, I have also been in a renter's shoes myself as well as been the landlord. There is nothing more stressful for a renter than a landlord who does not take them seriously when they raise a concern; most importantly, when it comes to issues related to safety - including health safety.

I found this following guide very informative when I had a landlord who downplayed my concerns about water leaks in my bedroom window and the related mold. My video recording, record keeping and notices to a senior manager were effective in producing speedy results. Thankfully there was a management company who oversaw the not-so-handy on site manager who had blown me off for a month and whose idea of checking for a

1,775 Views, 0 Comments

Does a buyer pay their agent's commission? No, but sometimes yes. In most cases, the sellers pay both agents' commissions at the close of the transaction. However, what if the home you like has an extremely reduced commission stated in the listing? Your agent still deserves the going commission, I would hope, so they may have you sign a contract from the start stating that if the stated commission falls below x percent, the buyer agrees to pay the difference. It's negotiable, of course, and agents must be careful because since they are committed to that client's deal by law, they can't turn around and not show them a house with a pitiful commission or just drop them as clients. Also, in the case where an agent may take a buyer to an auction to guide them

844 Views, 0 Comments

One day a woman call me for an appointment about her home in Mercer Island. She was vague about her circumstances but did mention wanting to know the value of her home so I met her at Starbucks to see what was up. She proceeded to unpack her laptop and pull up her home address on Zillow, asking me to show her how to do a value analysis. Let me explain Zillow.

Zillow is a neat and tidy program for pulling stats having nothing to do with what only human beings can perceive. Does Zillow know you have a pool in the back yard or that your garage has been turned into a media room? Nope. That you put in heated flooring in the master bath with a jacuzzi tub? Could it know that your lot has been re-zoned commercial so you can sell that property for much more

999 Views, 0 Comments

I'm fowarding this one not just for information but some are purely entertaining. And my buyer's typical complaint? See # 8.
REALTOR® Magazine received more than 50 responses from buyer agents who revealed their pet peeves when touring homes with clients—offenses that, they say, have buyers racing for the door.

Here are the 10 most common responses from buyer’s agents when asked about the worst mistakes they see when presenting for-sale homes to clients:

1. Leftover home owners
By far, one of the top offenses cited by buyer’s agents was home owners still lingering around when agents arrived with clients to preview the home. Awkward encounters ranged from buyers finding sellers taking a shower, asleep in the bed, to even the “stalker sellers” who liked to

923 Views, 0 Comments

Is it really worth it, to let strangers tromp through and have your agent sit there for 3 hours reading a book and hoping someone comes? If an agent merely plops up a sign or two and sits there with a book - you're right, it's best to stay home and relax. Here are some ways my team at Urban Properties has successful open houses that not only result in traffic but a better chance to find a buyer.

Neighborhood Blitz! Our team personally delivers fliers to 75-100 homes in the neighorhood to let people know ahead of time. We also use massive online resources to announce the date and time. When we meet your neighbors, going door to door and at the open house, we encourage them to think of anyone they know who wants to move to the neighborhood. It's

1,676 Views, 0 Comments

People have a hard time believing that their lender can cost them their home purchase. It's easy to assume that a lender just provides the documents for financing - as if that is cut and dry. Not so. To help you see what I mean, here are some live examples from my experience. My hope is that clients will consider our advice on which lenders are best to work with.

My client's short sale failed because of the buyer's lender. Why? The buyer's lender could not close on time and when pressed for an explanation, proved that they had issued an approval letter for that buyer when in fact the buyer's credit was sub-par from the start. The seller's bank (who had to approve the short sale) denied the sale based upon buyer's failure of financing, although by the time

848 Views, 0 Comments

Selling rented properties, I've found, has some interesting challenges. The sellers greatest concern is losing a tenant once the tenant finds out the home is going on the market. It's a great inconvenciece to most of them to have buyers tromping through the house, no matter how much notice the tenant has been given. (And by the way, 24 hrs notice is the rule but some tenants are flexible.) Here are just a few of the options I review with my sellers: Don't tell the tenant the home is for sale - but check your City codes first! This won't fly in Seattle. But if possible, in this case the buyers won't go through the house and have to make an offer sight unseen. No need to upset a tenant if you're not even sure the place will sell. Then, depending on the

800 Views, 0 Comments