Posts Tagged ‘real estate’

Latest North Whidbey Island Real Estate Facts

October 1st, 2014 at 10:53 am by Rick Schutte

I thought that I would share a couple of interesting graphs with you today.  These are graphs of the sales and active listings for North Whidbey Island  January 2013 – Sept. 2014.  As you can see, the sales have continued to increase and the number of active listings has decreased, leading us into a good seller’s market.  This is really unique though, since interest rates continue to stay low, probably not being raised until mid 2015, and our prices continuing to stay relatively stable.  These conditions still make it very affordable for buyers also.  In fact, we are seeing quite a few first time home buyers entering the real estate market.  I will write another blog in the near future with complete stats and a video for the third quarter.

 

ACTIVE LISTINGS BY MONTH NORTH WHIDBEY ISLAND

ACTIVE LISTINGS BY MONTH NORTH WHIDBEY ISLAND

LISTINGS SOLD BY MONTH NORTH WHIDBEY ISLAND

LISTINGS SOLD BY MONTH NORTH WHIDBEY ISLAND

 

 

 

 

 

 

 

 

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Review your Annual Credit Report

June 23rd, 2014 at 3:05 pm by Rick Schutte

Rick Schutte, Broker/Owner of Coldwell Banker Koetje Real Estate in Oak Harbor, Wa. interviews Lyn Bankowski, senior loan originator, from AlaskaUSA Mortgage about the need of checking your annual credit report.

In this interview, Lyn mentions the free reports can be found at https://www.annualcreditreport.com/. This central site allows you to request a free credit file disclosure once every 12 months from each of the nationwide consumer credit reporting companies. AnnualCreditReport.com is the official site to help consumers obtain their free credit report. You can also go to http://ftc.gov/freecreditreport for more information.
The Fair Credit Reporting Act guarantees you access to your credit report for free from each of the three nationwide credit reporting companies every 12 months.

For more information on credit reports and real estate, please contact us at any time.

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Do You Need A Buyer’s Agent to Purchase A Home

May 2nd, 2014 at 10:02 am by Rick Schutte

In today’s real estate environment, buyer’s representation is an important aspect of your real estate transaction. A buyer’s agent is always representing your best interest and is obligated to inform you of options you may have that will impact your purchase. The buyer’s agent has been trained in negotiations and local market conditions to help you get the best buy possible.

If you are a senior, there are buyer’s agents that have been trained and certified to work specifically with seniors and to understand some of the unique challenges that are created due to down-sizing, financing, etc. These agents have the Senior Residential Specialist Designation issued by the National Association of Realtors. If you are a senior, I would recommend asking for a buyer’s agent with this designation.


Do you need a buyer’s agent to purchase a home?  Not necessarily, but in all honesty, it is one of the best things a home buyer can do to ensure a smooth transaction, best buy possible, and at the end of the day, peace of mind.

 

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Now Is A Unique Period in History

November 13th, 2012 at 4:11 pm by Rick Schutte

This article is written by one of our experienced agents, Gil Daigle.

I got a flu shot last week. Because it was a workday, I was wearing my nametag, which advertises me as a Realtor®. The nurse who was giving me the shot started to talk about real estate. The conversation started out like all of these conversations do with the nurse asking me “How’s the market?” I gave my stock answer that it could be better and then went on to say what a great time it is to buy real estate. I talked about the depressed prices and the low interest rates. When I was finished, he told me a story.

A Remarkable Story

Last November he and his wife started to invest in real estate. Between November 2011 and April 2012 they purchased four condominiums in Kirkland for $300,000 cash. He went on to tell me that all four are rented and they generate $4,000 a month. After condominium fees and other expenses, the monthly net is $2,500. A very quick and basic calculation indicates this is a 10% return on his investment per year. You might be asking yourself “so what?” The simple answer is where else can you get 10% interest on an investment that will increase in value.

What Other Investments Are Available?

I searched the Internet and discovered the best interest rate you can get for a certificate of deposit is 1.1%. The big catch is you must deposit $25,000. The stock market might be the answer. Unfortunately, the average gain of the Dow Jones Industrial average since 2000 is only 2.57% with the big catch being its wild fluctuations. In 2003, the Dow gained 25.32%; however, in 2008 it lost 33.84%.

Do we all have $300,000 cash on hand to invest? I’m guessing the answer to that is no. However, interest rates are very low even on investment properties. Check with your banker for rate information. Talk to me about the availabilities of property. Whatever your circumstances it make good sense to think about investing in real estate.

If you are a renter, take the plunge and buy. If you have a good credit rating, there are multitudes of financing opportunities available. Talk to your banker and see what works for you. Then talk to me, I’m sure I can find you something you will like.

We Are In A Unique Period of History.

We are in a unique period of history. Since World War I interest rates have been this low only once, between 1933 and 1950. Remembering your U.S. History that was the Great Depression and World War II. Currently the US economy is down and the government is doing everything it can to bring about a recovery. These real estate conditions will not last. Get your piece of the American Dream while is it at its most affordable!

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Buying A Home? These Apps Can Help!

June 18th, 2012 at 4:12 pm by Rick Schutte

Each day technology becomes even more impressive as new tools, products and apps are rolled out that truly have a place in your daily life. It can be exciting and exhausting to try to find the ones that will benefit you. As a homebuyer, it can be overwhelming to narrow down all the choices.  With that in mind, I’ve made my real estate website tech and mobile friendly in the hope that you will find the results you need in your search, however, when it comes to buying a home, these apps may of benefit to you as well.

Many of these apps are even offered free of charge, although they may request your location information in order to produce the results you desire. If you want more specific information or ideas on specialized apps for your tech devices, please give me a call so we can brainstorm on how I can help meet your real estate needs.  In the meantime, though, check these out!

Not sure where you want to live?

  • Nabewise Get to know neighborhoods in-depth, complete with pictures, reviews and ratings ond rankings on the things you care most about.
  • GreatSchools Get to know local school options and read reviews by staff and parents of children attending the schools. Schools are also scored based on scores and ratings.
  • Yelp Find the best restaurants, shopping, and entertainment in the area you are researching directly from the people who live there. A true “insider’s view.”

Trying to keep track of everything?

  • Evernote Keep track of your buying process, including the information on homes you have seen, complete with your personal notes!

Want to compare?

  • House Hunter This tool allows you to set priorities on your wants and needs and match them to homes you are considering with the feature list and also has a mortgage calculator built in.
  • Trulia – Easy to use and even includes a help button! Depending on your mobile device, you can check and compare listings and even search by feature using your voice.

Looking for actual numbers?

  • Zillow Zestimates and make me move allow you to get an idea of what homes cost on any street and even permit you to make offers to home owners who do not have their property for sale.
  • Realtor.com Get stats on new homes, sold homes, and homes for sale easily and quickly, including price changes in any neighborhood.
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Tips to Reduce Your Heating Bill

January 30th, 2012 at 5:17 pm by Rick Schutte

Like you, we are always trying to discover ways to save money. This interview with Rick Bunzel of Pacific Crest Inspections gives us five great tips on ways to reduce our heating bills.

  • Lower your hot water heater to 120 degrees
  • Use a programmable thermostat to drop night time temps to 55 degrees
  • Change your furnace filter regularly and make sure the furnace is tuned.
  • Have your duct work checked and vents balanced
  • Add insulation to the attic

By following these tips and watching your energy consumption, you should be able to save some money and help the planet. We hope that you have enjoyed these energy saving tips. Please feel free to contact Rick Bunzel at Pacific Crest Inspections,  1-866-618-7764, or contact any of us at Coldwell Banker Koetje Real Estate in beautiful Oak Harbor, Wa. for any other real estate related questions or comments. We are here to serve you.

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Whidbey Island Real Estate Sales

December 27th, 2011 at 3:12 pm by Rick Schutte

As we approach the end of 2011, we start to evaluate the statistics for the year. Since we are still in December, the final results won’t be available  to be posted for a few weeks, but I thought I would give you a taste of the real estate market here on beautiful Whidbey Island.  I will show you a snapshot of total sales and median prices for the three areas of Whidbey Island; North, Middle, and South.  In my next post I will include graphs and explanations for the total 2011 sales.

  • North Whidbey Island, which includes every sale north of Libbey Rd, was down both in total transactions and median sales price. Sales were down approximately 6% from 2010 and the median sales prices was down approximately 5%.
  • Central Whidbey Island saw a year where the sales increased approximately 6% but the  median sales price remained about the same as 2010.
  • South Whidbey Island experienced an increase in sales of approximately 1.5% but declined in median sales price of close to 13%.

As we have always been told, real estate is very local. These few statistics only give a snapshot of the overall market in these areas. Individual homes and locations can vary by quite a large differential. Your local real estate specialist can help you with your particular property’s value and ability to be sold. I will be posting a much more in-depth market report in a few weeks.

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A Day In The Life Of A Property Manager

October 14th, 2011 at 2:21 pm by Rick Schutte

Have you ever wondered what a day in the life of a property manager looks like? What can be expected when the phone is answered?  

  • My faucet leaks - My front door squeaks - My toilet’s full of pooh -

 But I’m as helpless as can be, so there’s nothing I can do

  • I turned the gas off to my stove –  The outlets I did overload –  My front yard sure needs to be mowed

 But I’m as helpless as can be, so there’s nothing I can do

  • My smoke detector’s beeping –  I see spiders that are creeping - My windows they are weeping

But I’m as helpless as can be, so there’s nothing I can do

  • The light bulb burned out in my frig –  The water’s out in Indian Ridge –  My carpet’s old, can I have new?

But I’m as helpless as can be, so there’s nothing I can do

  • I broke a window while mowing the grass –  I locked myself out and I ain’t got cash –  The dumpster surround is really trashed

But I’m as helpless as can be, so there’s nothing I can do

  • The power’s out in two neighborhoods - I saw a rat yesterday in the woods –  I want new screens for my whole unit…….

But I’m as helpless as can be, so there’s nothing I can do

So I hope you appreciate  your property manager and know that they are doing the best they can for you. Keep smiling, have patience and enjoy your home.

Content Provided by: Gordon Collick; Koetje Property Management

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Whidbey Island Home Selling Tips

July 20th, 2011 at 11:43 am by Rick Schutte

This article will provide Whidbey Island Home Selling Tips and 5 Reasons to Hire a Pro to Sell Your Home. We are in a very different type of real estate market, a buyer’s market, and it is just to treacherous to go it alone. With these Home Selling Tips for Whidbey Island sellers, hopefully your experience with selling your home will be better and the outcome will be what you desire.

1. Employ an expert: A typical property owner does not have anywhere near the home-selling experience of a real estate agent. Agents can recommend relatively simple improvements—painting, making repairs, decluttering—that can help a home sell faster and for a better price. Your Realtor is the neighborhood expert. They can walk through a property and see right away what needs to be done to get the home sold. Independent sellers might not be aware of these tricks of the trade.

2. Use better tools: Homeowners using agents can get their property listed on Realtor.com, the most widely searched real estate website. Whidbey Island Home Sellers can get their homes listed on all of the local real estate company websites, including Coldwell Banker Koetje Real Estate website, which is one of the most comprehensive local real estate websites. Independent sellers do not have access to these services.  Another of our Whidbey Island Home Selling Tips is to ensure that your home listing is available for mobile viewing, ie. smartphones, Ipads, etc.

3. Sidestep lawsuits: Agents can also help protect sellers from potential litigation. There are all kinds of liability issues that a seller could potentially face when…dealing one on one with a buyer.  A homeowner could, for example  tell a potential buyer that hardwood floors extend to all corners of the house underneath the wall-to-wall carpeting. But if even one room has cement flooring, the homeowner could be sued. Agents, who have experience dealing with these liability issues, can help homeowners dodge such scenarios. Another Whidbey Island home selling tip to avoid lawsuits: provide a full home disclosure to the purchaser. This is required by law.

4. Duck the riffraff: Independent sellers might not have any idea whom they are letting into their homes during open houses. These potential buyers might not have the credit to make the purchase—and would therefore be wasting the homeowner’s time—or could even “try to rob them later on. Homeowners working with agents will have qualified buyers visiting their properties. The agent has developed a relationship with their client and knows their qualifications.

5. Avoid hardball tactics: It’s a buyer’s market out there. And with all the information available online, today’s well-informed buyers are tough negotiators, too. Real estate agents have been through the home-selling process before and are trained in negotiating tactics—giving them a potential edge in negotiating  a deal in the seller’s best interest.  Our last Whidbey Island home selling tip is to have a strong negotiator on your side. Using a professional is in your best interest.

Hopefully these Whidbey Island home selling tips have been a help to you. Please feel free to contact us at 360-675-5915 or email us at cbk@whidbeyrealestate.com at any time. We are here to be of service to you.

Content provided by: Luke Mullins: USNews.com

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How Are Homes Priced to Market

July 7th, 2011 at 10:21 am by Rick Schutte

One of the responsibilities we have is to help our homesellers establish a realistic market price for their home when they are preparing it for sale. Historically,  the sale price of recently sold comparable homes has been used as the basis for calculating a value for the current home for sale. Together with adjustments for the differences in homes and their amenities has produced a very reliable market value.

That was historically.  In today’s market enviornment, things have changed. Values have decreased from past sales and there are many other influencing factors involved in the calculations to achieve a realistic, marketable price for a home today. The amount of foreclosures and short sales has dramatically affected values.  The deflated price of  those sales affects the value of homes around them. Buyers then use those sales as the benchmark for value, offering to purchase at those deflated prices.

In today’s market, we must take a look at a home’s competition before setting a price to sell. If like homes are competing for the buyers attention, we must make sure the price is in line with, or lower than the competing homes that are for sale. Purchasers are shopping for value in the current  real estate market.

For information or help in preparing your home for sale, and in preparing the asking price, contact us at any time. We are here to help you with all of your housing needs.

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About Rick Schutte

Rick is the owner/designated broker of Coldwell Banker Koetje Real Estate and Koetje Property Management. He has been involved with the real estate industry on Whidbey Island for over 32 years. He is a past president of the NWMLS as well as a current board member of the North Puget Sound Association of Realtors. He has been designated by the National Association of Realtors as a Certified Real Estate Brokerage Manager as well as a Graduate of the Real Estate Institute. Rick can be reached at 360-675-5811 or cbk@WhidbeyRealEstate.com You can also check out his website at http://www.cbkoetje.com

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