The Preserve at Lake Cassidy

Are you looking for a wooded paradise in Snohomish County to call home? Welcome to The Preserve at Lake Cassidy, located just north of Lake Stevens. Picture looking out your window and seeing the neighborhood deer (at last count there's 5 of them, up from 3 last year) walking through a neighbor's yard, going from one feeding spot to another. Or maybe you are out in the backyard playing with the kids or dogs and two Bald Eagles fly just overhead.

About the Location and Lake

The Preserve at Lake Cassidy is situated approx. one mile from the Centennial Trail and is within walking distance of Lake Cassidy, utilizing a series of wooded paths winding through the outskirts of the community. Lake Cassidy is a small fishing lake allowing 10 hp max boats with a speed limit of 8mph. It's peaceful, serene and beautiful. There is a public boat launch off 99th (west side of lake) with parking and on the east side of the lake (along the Centennial Trail - no vehicle parking) there is a public fishing dock.

About the Homes

The homes here are situated on estate sized lots, most being about 3/4 acre, while other lots could be up to approx. 1 acre. All feature at least 3 car garages, while some have 4-car garages. Some owners have built workshops or guest houses on their properties. Many properties border NGPA land with towering evergreens.

Current Market

As of 2/6/08 there are 7 homes available ranging in price from $499,950 to $538,950 and in size from 2005 square feet to 2620 square feet. In the last six months eight homes have sold ranging in price from $515,000 to $617,431 and in size from 2006 square feet to 2900 square feet. Some of the larger homes in the community are over 3000 square feet.

If you would like to see any of the homes available in The Preserve at Lake Cassidy, or any other community please call me and we'll set up a showing appointment.

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Providing the highest level of professional real estate services to buyers and sellers.

Tina Faust, GRI

RE/MAX Champions

425-374-2728

http://www.tinafaust.com/

Tina@TinaFaust.com

Restaurant Review: Pickles Deli

I was over in Clinton, WA (on Whidbey Island) yesterday to do a market analysis. I finished my property reviews just in time for lunch. I stopped somewhere I hadn't been before and to my delight found Pickles Deli. One word: Phenomonal!

Pickles is located in a strip mall shopping center with the anchor being a grocery store. From the outside it looks like every other storefront. Inside however, it is warm and inviting. It makes you feel like sitting for a leisurely lunch - and how good does it smell! I knew I was in for a treat.

At first all the options were a bit overwhelming, but I soon spotted exactly what I wanted - something custom. I ordered a Panini with peppered turkey breast, creamy havarti cheese, bacon, tomato and field greens.

To say my sandwich was delicious would be an understatement. I savored every bit and took extra time to enjoy my sandwich. The ingredients were fresh, it was made to order and the service was fantastic.

I will be going back over to Whidbey Island - no doubt for business and pleasure, but I am even willing to take the ferry ride just for another 'Tina Created' Panini.

Click Here for address information.

If you go to Pickles Deli, I'd love to hear about your experience... comment here!

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Tina Faust
RE/MAX Champions
425-374-2728
www.TinaFaust.com
Tina@TinaFaust.com

F.S.B.O.

Stands for For Sale By Owner. Also known as 'fizz-bo'. Are you considering selling a property on your own? Here are some things to consider:

Complete an extensive research of local market conditions, including:

• the listing and selling price of all houses in your area for the last six months,
• the listing price of houses currently on the market, and
• the listing prices of houses that were on the market but did not sell.

TIPS: Begin your research on the Internet. Follow-up by visiting the county tax records office to determine the selling prices of houses.

Put together a marketing plan:

• How will you market your house to real estate agents? Most buyers use a real estate agent, so marketing to real estate agents is essential. At a minimum, you'll want to send a letter and sales flyer to all real estate agents within a 30 mile radius.
• How much money can you afford to devote to advertising? Call the local newspapers to determine how much it will cost for advertisements. You'll want to fun frequent ads.
• Who will create your sales flyers? Buyers expect fact sheets to take with them when they drive-by or tour a house for sale.
• Where will you place signage? In addition to your front yard, are there areas leading in to your neighborhood where signage would be appropriate?
• How will potential buyers find information about your house on the internet? You'll want potential buyers who begin their house shopping on the Internet to find your house. Be sure to build a web site to help sell your house.
• Who will be available to open the house up for showings? You'll want to schedule showings as quickly as possible - even the same day.

TIPS: Ask newspapers for a discounted advertising rate for multiple placements. Be sure to check with local officials to determine if there are any restrictions on where you place signs. Find some way to pre-qualify buyers before letting them into your home.

Confirm the potential buyer has pre-qualified for a mortgage loan:

• If the buyer is paying with cash, confirm they have the necessary resources
• If the purchase is contingent on the buyer selling their own house, confirm that the buyer's house is on the market. (You may also want to determine how long the buyer's house has been on the market.)
• If the buyer is getting a loan, be sure they have applied for the loan and have been approved.

Negotiations, Contracts and Closings:

• Are you prepared to negotiate the contract?
• Are you prepared to monitor the terms of the contract through to closing?
• Do you know what the legal responsibilities of the seller are in your area?
• Who will write the contract? Will you need to hire an attorney? If so, what are those fees?

TIPS: In addition to the sales, you may need to complete a Seller's Disclosure and Lead Based Paint Disclosure.

If you are ready to take this challenge on yourself, please be prepared for the good, bad and the ugly. Consult legal, tax, accounting and state counsel to ensure you have everything needed to complete the sale.

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com
Tina@TinaFaust.com

Sellers: Capital Gains

The IRS permits a maximum exclusion on capital gain of $250,000 for individuals and $500,000 for married couples filing a joint return who sell their home, but of course some conditions apply.

For the five-year timeframe prior to the date of the sale of your primary residence, you must meet the Ownership and Use Tests the IRS provides in Publication 523, Selling Your Home - 2007. These rules ensure you have owned the home for at least two years, and lived in the home for at least 24 months out of the last five years. Additionally, you may not have excluded a gain on your taxes from the sale of a different home within the last two years. Note that if you sell your property for less than your original purchase price, you cannot claim a capital loss.

A 'reduced maximum exclusion' can apply to those who must sell their home due to a change in their place of employment, health issues, or unforeseen circumstances that affect qualified individuals. In all cases, it is best to consult your tax professional or IRS guidelines if you have any questions about the taxes you may be responsible for if you sell your home.

Thanks to Mike Kang of Countrywide Bank for providing this article. For mortgage related questions, Mike can be reached at 425-744-5738 or by email: mike_kang@countrywide.com

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com
Tina@TinaFaust.com

Pre-Screened Offers

If your mailbox is anything like mine, it's filled every day with offers of credit ranging from home equity loans to personal lines of credit to credit cards and more. If you are anything like me, it drives you crazy!

These offers are usually made to you after a company reviews basic information available from your credit report to see that you meet certain criteria. If you accept the offer, they will take a deeper look at your credit report along with information you provide to ensure you qualify. The pre-screened offers are generally not guaranteed offers.

Did you know there is a way to opt of these offers? Simply call 1-888-567-8688 or visit OptOutPreScreen.com.

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com/
Tina@TinaFaust.com

Cash Back at Closing

Cash back at closing is a scheme where buyers offer considerably more than the asking price and arrange to have that overage (often in the $50k-$100k range) kicked back to them by the seller. Notice the operative word: Scheme

You might be thinking, 'sounds good to me; everyone wins'. Seller gets their house sold and the buyer gets their dream home with a lump of cash to go along with it. Win-Win, right? Wrong. This is fraud and it is illegal.

Why? This type of scheme:
- Inflates housing values, making housing less affordable;
- Artificially raises property taxes;
- Hurts honest real estate practitioners because they lose business to dishonest agents/brokers who offer cash back deals;
- Stimulates foreclosure and destroys neighborhoods that begin to buckle when homeowners default on the inflated loans.

Cash back at closing schemes are done under the table, because no lender would approve a deal like this. If you think you might inadvertantly be involved in a cash back at closing scheme by the suggestion of any professional providing you assistance please call me, your attorney or another mortgage/real estate person to help you.

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com
Tina@TinaFaust.com

Going Green...

There is so much talk about Global Warming, it's a hot topic nowadays. As well it should be. I'm a factual person, where I need actual proof before I jump on the bandwagon; but what this has done for me is made me realize we really should be treating our planet better - whether the planet is heating up or not; and if so, is it because of our landfills, fossil fuels, hairspray cans, etc?

So, here's what I've done (so far) to make my life a little bit 'greener':

• Planted more trees and shrubs. I now have 10 trees and over 65 plants in my yard.
• Ordered the composting service through my waste management company; I use for all yard waste, vegetable trimmings and shredded paper (most recycling programs won't take shredded paper) - this way I'm sending less to the landfill.
• Ordered kitchen waste 'Bio Bags' so I can send more of my food scraps/waste to the composting can instead of the garbage can.
• Use less paper plates, but the ones I do use are compostable (since most recycling programs won't accept paper plates).
• Use less paper towels, but when I do use them they go to the compost can.
• Keep my thermostat a bit lower and wear warmer clothes in the house or use a blanket.
• Both my husband and I drive more fuel efficient vehicles - both of us got rid of our SUV's.
• Reuse my plastic grocery bags before throwing them away.
• Use more organic food products (with a higher demand for organics, hopefully we can lessen the demand for foods with pesticides thereby reducing the use of these products).
• I re-use and then recycle all of my plastic water bottles.
• Changed a majority of my lighting to CFL (Compact Flourescent Lighting)

Here are my future plans for even 'greener' living:

• Switch all plastic bags to compostable. Even though the garbage itself cannot be composted, these bags will break down naturally in the landfills and will not add additional plastic.
• Switch all plastic silverware to compostable - sending less plastic to the landfill.
• Purchase re-usable grocery bags.
• Continue to add new trees and shrubs each season.

For information on purchasing environmentally friendly products and Bio Bags, go to BuyGreen.com

For information on CFL bulbs, go to the Energy Star web site

Want a unique gift idea for the holidays? Try these handbags made from re-purposed movie billboards and candy wrappers.

Have you 'gone green' at home or work? Please share the ways you've made changes with your comments below.

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com/
Tina@TinaFaust.com

Get a CLUE! Part 2

In the last entry we talked about how getting a CLUE report on a property helped the buyer re-negotiate a purchase after finding out about an un-disclosed fire. This time let's talk about what the seller could have done differently and how it might have affected the sale.

The first thing is obvious - the seller should have disclosed the fire. Many sellers are now making the disclosure statement available before a buyer even makes an offer. I recommend this for a few reasons:

• Buyers feel you have nothing to hide;
• Buyers can make a more informed offer, hopefully eliminating the need to re-negotiate after acceptance, or worse, cancellation based on items in the disclosure.

If the seller had provided a CLUE report along with the disclosure statement there would not have been an issue of a 'hidden' element about the home.

So, you may be wondering how this affected the seller. Had the seller in my true case story been up front about the fire, my buyer may not have re-negotiated the deal which would have resulted in a higher net profit. Also, at closing we discovered the seller really wanted to lease back the property since my buyer was an investor. Because the seller did not disclose the fire they didn't trust the seller as a tenant.

Bottom line is this: seller lost net profit on his property and had to find a new place to lease at the last moment. (There's another story in here which I'm sure you can see the start of, but it doesn't involve the CLUE report so I'll stay on topic.)

There are many options available to obtain a CLUE report (or letter of insurability). I suggest talking with your insurance agent or try ChoiceTrust.com. If you should have any questions please do not hesitate to contact me! If you are interested in buying or selling real estate, I'd love to help!

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com/
Tina@TinaFaust.com

Get a CLUE! Part 1

Attention buyers and sellers of real estate! I cannot understate the importance of getting a CLUE report when you purchase or sell property.

CLUE = Comprehensive Loss Underwriting Exchange; you are probably asking 'what is it and why do I care'? It's a term used in the insurance world; this is a report that tracks all homeowner's insurance claims on a property.

Here's the basics: insurance companies in general insure using one of two principles; property loss history or personal loss history. Let's say you currently own a home and have not filed any claims against your property. You probably enjoy average prices for homeowners insurance. Now that you've sold your home and have a purchase and sale agreement accepted on another you are ready to move. Part way through the escrow process you find out your homeowner's insurance is going to be exponentially higher - why? Previous property owners had filed a claim against the property for, let's say, a tree that fell through the roof. Now what???

Most people probably aren't aware of the two basic principles of insuring and wouldn't even know to check with other insurance companies for better rates. Your insurance company isn't going to tell you, because that would mean they will lose your business to a company that insures against personal loss history.

True Story: I was representing the buyer purchasing a home during the boom days of real estate when every property received multiple offers well over the asking price; we were the successful 'bidders'. The buyer looked over the seller disclosure statement and everything seemed in order. There was a stipulation in the contract that the seller deliver us a CLUE report within 5 days of acceptance. When we got the CLUE report it indicated there was a $50,000 claim due to a fire in the garage! Well, that changes things - not only does the buyer need to consider the previous fire but we have a seller that did not disclose this material fact. The buyer decided he would only continue with the purchase if the seller agreed to reduce the purchase price back to the original asking amount. Basically - the buyer was no longer willing to pay over asking for the home. Fortunately the seller agreed and we continued to a successful closing.

So, having the CLUE report allowed us to 'uncover' a non-disclosed fire and properly shop for homeowner's insurance by finding a company that bases their rates on personal loss history. In the end, this very valuable report saved my client a lot of money!

Next time: what could the seller have done differently, how might it have affected their bottom line and how you as a seller can use this as a tool in today's market.

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com/
Tina@TinaFaust.com

A new twist to seller strategies...

What would you think about purchasing a home and then getting the money back when the seller's die? That's exactly what a husband and wife in Pennsylvania are offering up to try and entice a home buyer.

Another possiblility? Promise to take care of the seller's in their old age and they'll leave their entire estate to you when they pass. They'll even let you write their will!

Check out the full article here: Pittsburg Post Gazette: A House Deal To Die For?

Post in the comments below any out-of-the-box seller strategies you've noticed; I'd love to hear what others are seeing out there!

There are all kinds of ways to be creative with incentives and pricing - feel free to call if you are thinking about selling and we can talk options!

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com/
Tina@TinaFaust.com

Introduction

Thanks for visiting my blog! I'm a real estate professional specializing in residential buyers, sellers, investors and relocations in the Western Washington/Puget Sound region. This blog will be geared more towards real estate information and questions.

A little about me: I moved here from Arizona, where I also hold a real estate license. I grew up in Arizona, but never liked the heat. One vacation to Seattle and we were hooked! Six months later we moved here as my husband was able to transfer with his employer, Boeing.

My husband and I enjoy hiking, camping, photography and boating. We have two dogs (Border Collies) and a cat.

I have extensive knowledge and experience in real estate, I have also earned the GRI designation (Graduate, Realtor Institute) which requires over 90 hours of additional education above and beyond pre-licensing or continuing education.

I have earned the RE/MAX 100% club award and Executive Club award. Soon I will working to earn my Broker's license which will further my knowledge and experience to provide an even greater level of service to my clients.

I love what I do and it shows; I work exceptionally hard for my clients. I'm always open to new ideas, and enjoy trying new things. I've been called a 'pit bull' when it comes to protecting my client's interests.

I am proud to support the Children's Miracle Network by donating a portion of each commission in your honor! Starting in 2008, I will also be supporting the Susan B. Komen foundation for breast cancer research and prevention by donating a portion of each commission in your honor.

Through my affiliation with RE/MAX Champions I offer you offices in Edmonds, Lynnwood and Anacortes as well as my satellite home office in Lake Stevens. I'm prepared to assist all of your residential needs across Western Washington.

If you should have a real estate or mortgage related question, email or call me. There is no obligation, I will help anyone whether you are my client or not. (If you are already represented by another agent, the Code of Ethics does not allow me to counsel you on real estate matters).

Be sure to check my web site for current home listings and search for properties that meet your needs.

I can assist you with buying any home listed for sale, including new homes! As the buyer, you do not pay a fee for my services and I represent your interests.

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Tina Faust, GRI
RE/MAX Champions
425-374-2728
http://www.tinafaust.com/
Tina@TinaFaust.com