Pierce County, WA Real Estate | Blog | Trey Affolter, Keller Williams Realty

The Trey Affolter Team, Keller Williams Realty, always welcomes comments and is available to answer questions about Tacoma Real Estate and the surrounding cities within Pierce County Real Estate, South King County Real Estate, and North Thurston County Real Estate.

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Posted by Trey Affolter on February 1st, 2009 9:56 AMPost a Comment (0)

President Signs Economic Stimulus Measure!

February 18th, 2009 10:03 PM

Washington Realtors provides highlights of the new Economic Stimulus Package

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February 17,2009 2pm

The $790 billion stimulus package signed by President Obama today increases the home buyer tax credit to $8,000, drops the repayment feature, reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans, and provides $2 billion in additional funding for states and localities to be used to purchase, manage, repair and resell foreclosed and abandoned properties. Many elements (listed below) included in HR 1 "American Recovery and Reinvestment Act of 2009," were supported by the National Association of REALTORS® (NAR) as well as the many REALTORS® who sent call to action messages to Congress urging their support!

Homebuyer Tax Credit. The bill provides for a $8,000 tax credit that would be available to first-time home buyers (those who haven't owned in at least three years) for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment for buyers who hold onto their property for at least three years. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

NAR has sought removal of the repayment requirement because it discourages buyers from taking advantage of the tax credit. The three-year minimum holding period is a safeguard against speculators' use of the credit. The legislation also extends the effective date of the credit to December 1 from June 30, and extends eligibility to borrowers who buy their home with the help of state or local financial assistance that comes from the proceeds of tax-exempt mortgage revenue bonds.

The start date for the first time homebuyer credit is January 1, 2009 through and before December 1, 2009.

FHA and conforming loan limits. Specifics have not been released but reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the secretary of the U.S. Department of Housing and Urban Development.

Foreclosure mitigation and neighborhood stabilization. Funding for states and localities to be used for neighborhood stabilization activities for the redevelopment of abandoned and foreclosed homes are authorized. Some news reports put the funding level at $2 billion.

Rental assistance. Up to $1.5 billion to provide short-term rental assistance and other aid for families during the economic crisis.

Transportation infrastructure. Up to $29 billion for highway construction projects, $8 billion for rail projects.

Rural housing development. Increased funding for the Rural Housing Service direct and guaranteed loan programs.

Low-income housing grants. Allow states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low-income housing, including those with or without tax credit allocations.

Tax-exempt housing bonds. Tax-exempt interest earned on specified state and local bonds issued during 2009 and 2010 will not be subject to the Alternative Minimum Tax (AMT). In addition, financial institutions will have greater capacity to purchase tax-exempt state and local bonds.

Energy efficient housing. Grants for energy retrofits for federally assisted housing (Section 8), funding for energy efficiency and conservation block grants to states, increases in the residential tax credit through 2010 for certain energy efficient upgrades and $5 billion to weatherize low-income homes.

Greg Wright
2009 President
Washington REALTORS®

The Trey Affolter Team, Keller Williams Realty, always welcomes comments and is available to answer questions about Tacoma Real Estate and the surrounding cities within Pierce County Real Estate, South King County Real Estate, and North Thurston County Real Estate.

253-222-6000

Posted by Trey Affolter on February 18th, 2009 10:03 PMPost a Comment (0)

Tacoma-Pierce County Habitat for Humanity Seeking Families

February 18th, 2009 9:44 PM

Tacoma-Pierce County Habitat for Humanity Help Local Families

Tacoma-Pierce County Habitat for Humanity is beginning our twice-a-year family selection process! Habitat for Humanity provides safe, affordable, & permanent housing.

Tacoma-Pierce County Habitat for Humanity  are seeking families who meet the following three basic criteria:

1.      Need.

Habitat selects families living in overcrowded, substandard or overly expensive housing. In some way, the current living situation does not meet the family’s needs.

2.      Ability to Pay.

Qualifying families don’t necessarily have great credit scores, but they can demonstrate that they know how to pay essential bills on time. If receiving wages, we require 1 year of employment in the same industry.

3.      Willingness to Partner.

Habitat families put in 500 hours of “sweat equity,” building their own and other families’ homes. Habitat’s program is a hand-up, not a hand-out.

4. Reside or Work in Pierce County

Families will have lived and/or worked in Pierce Co. for at least one year.

Habitat builds simple, decent, “green” homes, built to accommodate the family’s size, and sold at cost with a 0% interest loan.

Contact Tacoma-Pierce County Habitat for Humanity for dates and locations of our upcoming selection meetings, the income requirements, and the list of documents we ask families to bring to the meeting. We require all applicants to attend just one of the Application Meetings in order to be considered for a home.

Contact:
Megan Syverson Rhayn
Director of Family Services
Tacoma-Pierce County Habitat for Humanity
Phone: 253.627.5626
Fax: 253.284.2805

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Posted by Trey Affolter on February 18th, 2009 9:44 PMPost a Comment (0)

Homeowner Affordability and Stability Plan - Stimulas Plan

February 18th, 2009 9:27 PM

Highlights of the new Homeowner Affordability and Stability Plan as outlined by Washington Realtor.

February 18,2009 5pm

On Wednesday, February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of defaulting, but prevents neighborhoods and communities from being pulled over the edge too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs.

The key components of the plan are:

1. Government Sponsored Enterprises (GSEs) Refinancing for Up to 4 to 5 Million Responsible Homeowners with GSE loans to Make Their Mortgages More Affordable

2. A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners

• A Loan Modification Plan To Reach 3 to 4 Million Homeowners

• Shared Effort with Lenders to Reduce Interest Payments

• Incentives to Servicers and Borrowers

• Clear and Consistent Guidelines for Loan Modifications

• Required Participation By Financial Stability Plan Participants

• Modifications of Home Mortgages During Bankruptcy

• Strengthen Hope for Homeowners and Other FHA Loan Programs

• Support Local Communities and Help Displaced Renters

3. Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac

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5 Features Home Buyers Want Most - Tacoma Real Estate

Posted by Trey Affolter on February 18th, 2009 9:27 PMPost a Comment (0)

5 Retrofits Buyers Love - Tacoma Real Estate

February 9th, 2009 8:04 PM

Five Retrofits Buyers Love

Tile backsplash - Use a bright color or a bronz-like metallic.
Add undercounter lighting - Improve safety and ambiance.
Paint the upper kitchen cabinets - Choose a different color for a custom look.
Add doors with glass panels to some cabinets - or create open shelves to display a few lovely dishes.
Change the hardware - For a fresh look, install new knobs and pulls, or reface the cabinet doors.

FREE Market Analysis

Additional Resources for Home Sellers

Staging Your Home for Success

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Staging Your Home for Success

Posted by Trey Affolter on February 9th, 2009 8:04 PMPost a Comment (0)

5 Features Home Buyers Want Most - Tacoma Real Estate

February 9th, 2009 7:35 PM

Five Kitchen & Bath Features Buyers Want Most

In the recent survey "Profile of Buyers' Home Feature Preferences," conducted by NAR (National Association of Realtors), the following 5 items were identified as key features buyers want most in kitchens and bathrooms.

36% -Seperate shower enclosure in master bath. Roll-in showers, multiple shower heads, and decorative grab bars that match other bath fixtures.

31% -Eat-in kitchen

24% -High-end appliances. Stainless steel appliances are highly desired.

23% -Granite countertops

21% -Kitchen island. Ideally one that's not a boring square and that icorporates lots of storage.

Additional Resources for Home Sellers

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Real Estate Market is Recovering

Posted by Trey Affolter on February 9th, 2009 7:35 PMPost a Comment (0)

Now is the Time to Buy - Tacoma Real Estate

February 1st, 2009 10:38 AM

When Should You Buy a Home?

Now is a great time to buy a home, Mike Welty, a mortgage broker with Guild Mortgage Company in Bellevue suggests, citing a number of factors. Among them, he noted home prices in some areas are close to 2004- 2005 levels, a first-time home buyer tax credit of up to $7,500, plus the availability of low or no money down programs for many purchasers.

NWMLS director Dick Beeson, expects interest rates will remain in the low 5 percent or high 4 percent range. Northwest Multiple Listing Service, owned by its member brokers, is the largest full-service MLS in the Northwest.

source: Rinehart Inspection Services, LLC

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Additional Real Estate Articles:

Seattle Real Estate Market Best for Speedy Rebound

Top 10 Reasons to Buy Tacoma Real Estate Now...FREE Report

Myths About Selling Your Tacoma Real Estate Home in a Slow Market

Down Payment Assistance Programs for Washington State Home Buyers

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Staging Your Home for Success

Posted by Trey Affolter on February 1st, 2009 10:38 AMPost a Comment (0)

When All Else Fails Home Sellers - Stage! - Tacoma Real Estate

February 1st, 2009 10:20 AM

Staging a Home for Sale...

So, you want to sell your home? You have a wonderful Realtor®, a great marketing plan, a competive price, but just not having any success.

What next?

Stage your home for success, that's what. Enjoy the following video from KCTS9 TV on Home Staging:

Additional Home Staging Resources for Home Sellers

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Posted by Trey Affolter on February 1st, 2009 10:20 AMPost a Comment (0)

Keller Williams Realty - A Real Estate Industry Leader

February 1st, 2009 9:27 AM

Keller Williams Realty 4th Largest Real Estate Company in North America!!

Business Wire

Keller Williams Realty Bucks National Business Trends During the Toughest Real Estate Market on...

01.27.09, 12:11 PM EST

Bailout. Credit crunch. Foreclosure. Despite these words permeating the headlines and airwaves, there are companies out there moving forward - even in real estate. Keller Williams(R) Realty Inc., the fourth largest real estate company in North America, announced today that it outpaced the market in 2008, while remaining free of debt, and gave back more than $30 million in profits to its agents.

"Our strategy is no secret. We faithfully follow the sound financial model of leading with revenue - the same model our market centers follow," said Mark Willis, CEO of Keller Williams Realty Inc. "As we watch companies throughout the country take on billions of dollars of debt, we are proud to say that our company has not one dollar of financing debt and we remain strong and financially sound. It is our joy to be able to give back to our agents during these times."

Despite pervasive downward trends in the real estate industry, Keller Williams Realty continues to outperform the industry. For the first 11 months of 2008, existing home sales for the United States fell 17 percent when compared to the same period the year before. By comparison, Keller Williams Realty is poised to outdo those numbers by 10 percentage points, and in addition, the company experienced a much smaller contraction in its agent base compared to the National Association of REALTORS(R), who saw a 10 percent decline in membership.

"Keller Williams was founded 25 years ago during one of the toughest markets on record - when interest rates were higher than 18 percent. We continue to urge our agents to zero in on lead generation and reducing expenses so they can thrive during this market," said Mary Tennant, president and COO of Keller Williams Realty Inc. "We admire our agents' spirit, tenacity, and dedication to their businesses. They just keep powering forward."

Throughout 2008 Keller Williams Realty launched new products and services specifically to boost its agents' businesses, including two new books: Your First Home: The Proven Path to Home Ownership for first-time home buyers, and SHIFT: How Top Real Estate Agents Tackle Tough Times. Both books are written by Gary Keller, co-founder and chairman of the board of Keller Williams Realty, who also authored national best sellers The Millionaire Real Estate Agent and The Millionaire Real Estate Investor.

About Keller Williams Realty Inc.:

Founded in 1983, Keller Williams Realty Inc. is the fourth-largest real estate franchise operation in North America, with more than 690 offices and 70,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

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Down Payment Assistance Programs for Washington State Home Buyers

Posted by Trey Affolter on February 1st, 2009 9:27 AMPost a Comment (0)

A Down Payment Assistance Comeback for FHA Mortgage Loans?

February 1st, 2009 9:02 AM

Down Payment Assistance Programs for Home Buyers...

Down Payment Assistance Programs has been a big part of FHA Mortgage Loans for the last 10+ years for First Time Home Buyers. In October 2008, Congress eliminated the Seller Assisted Down Payment Assistance Program eligibility for FHA Home Buyers.

But, good news may be on its way for First Time Home Buyers!

Rep. Al Green, of Alabama, will be introducing HR-600 on 1-21-09 to save and reform Down Payment Assistance Programs for FHA Mortgage Loan eligibility.

Down Payment Assistance needs your help. Go to supporthomeownership.org and tell your Congressman to support HR-600.

While Seller Assisted Down Payment Assistance Programs are not available at this time, several programs are available if you are considering purchasing a home in Tacoma Washington, or surrounding cites of Pierce, King, and Thurston Counties.

Available Down Paymenst Assistance Programs

Search Washington State Real Estate MLS Listings

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