Category: Real Estate

I have a friend looking for a Real Estate Administrative Assistant

Carl Setzer2 Comments

Hey everyone,

A friend of mine is looking for an admin assistant. If you’re interested, let me know and i’ll get you additional details.

 

 

FULL TIME ADMINSTRATIVE ASSISTANT NEEDED

Real Estate and Home Builder office is looking for a special person to join our team. If you like variety then this is the job for you!

MARKETING COORDINATOR

  • Create, develop and maintain marketing materials
  • Oversee and manage social media
  • Manage marketing campaigns

TRANSACTION COORDINATOR

  • ust have knowledge of title and escrow
  • Track and maintain put to date records on leads, listings, closings, etc.
  • Prepare purchase and sale agreements
  • Upload, maintain and track listings in NWMLS
  • Work with construction group on new construction listings and sales

PERSONAL ASSISTANT

    • Will provide direct administrative assistance to Owner
    • Assist in typing emails
    • Manage calendar
    • Coordinate personal appointments

REQUIREMENTS

      • Impeccable attention to detail
      • Must be able to meet deadlines
      • Strong computer skills
      • Self starter
      • Able to juggle and prioritize multiple tasks simultaneously
      • Excellent written and communication skills
      • Good decision making and problem solving skills
      • Type a minimum of 40 WPM
      • Must be able to work independently and with a team
      • Provide office support during vacations
      • Must have a positive attitude
      • Valid WA State drivers license

PREFERENCES

Must have Brokers license or be willing to obtain one within 120 days of employment
Knowledge of MS Word, Excel, PowerPoint, Publisher and Photoshop

Some #RealEstate Thoughts on the #CFPB

Carl Setzer

We in the real estate business have been hearing TONS about the Consumer Finance Protection Bureau (CFPB) lately. The biggest piece for us has been the changes in the required disclosure documents that will be launching “soon”. Mainly, the required documentation has been cleaned up/made less confusing (and I think they’ve done a reasonably good job at that part). (More details in the video below.) However, I do have some concerns.

As a fan of federalism, I am not too keen on this organization being (relatively?) clear of Congressional oversight. I highly value the mission and role of the org, but also deeply value governmental transparency and accountability. I would like to see more of that with the CFPB, even considering the partisan and often grandstanding nature of Congress. But that’s another issue.

Yet again: Economists Predict Interest Rate Hike In 2015

Carl Setzer

I’ve ready many predictions about the impending interest rate hike, like this one from Monday over at Housingwire. Now, it probably easy to add snark to my tone, but it’s not there. I understand economics and why interest rates cannot remain at this level. I just find it amusing that I’ve seen “rates rising” predictions for years without the rates really rising (ok, they’ve moved up, but that’s not the point).

It’s probably nearly impossible to predict when the rates will go up. But, really, for most of us, that really shouldn’t matter. What does matter is that they WILL go up, whether that’s this month, this quarter, this year or next; everything about the system demands they rise. Trying to game this and grab rates at their peak lowness (actually, I think that time has past) is foolish. If you are in place to buy or refinance, just go and do it. Remember the African adage: the best time to plant a tree is 5 years ago, the second best time is today.

Some Thoughts On Jefferson County Real Estate

Carl Setzer2 Comments

Just got this blurb from some agents out there in Jefferson County:

“Jefferson County current Real Estate sales have increased 28% since 2014 with prices staying stable.”

Having the real estate market stabilize in lovely Jefferson County is particularly pleasing to me. The economy out there has been slower to recover. Now, the economy out there isn’t as vibrant, thus not as volatile. But the collapse of the timber industry really hurt things. That’s been the bigger driver for that area than the real estate bubble crash.

I love Port Townsend and it’s Victorian architecture. Plus, it’s quirky charm and the characters who call it home. You can get bumper stickers that say “We’re here because we’re not all there: Port Townsend”. That ready should sum the place up.

Underwater Homes and Such

Carl Setzer

Over the past few years I’ve heard so very much about “underwater homes”. When one owes more than the home is worth, the choices seen a bit stark. Short-Sales, foreclosures, bankruptcies, and other dire options were what got press, and agents talking. There was one option, though, that didn’t get mentioned: nothing. Keep pushing your mortgage and wait for the market to recover value.

The past several years have seen significant value growth. And Seattle has been central in that growth trend. We’ve gained back most, if not all, of the recession’s value erosion. Now, that’s not universal. There are areas in western Washington which haven’t gained that much. Seattle/Bellevue is the epicenter, which price increases dropping moving outwards.

Now, if you must move (job relocation, etc), you can’t afford your mortgage (adjustable rate resets, interest only terms off and principle comes due, etc), and you owe me than your home’s value, there are options. Don’t panic! But don’t seek one of these options if you simply are worried about home value. If you like where you live and it meets your needs, stay there. Prices will recover, and soon.

Supply & Demand Duking It Out

Carl Setzer

Just read Tight Supplies Put Home Prices on the Move over at Realtor.com. Stuff we’re seeing, too. Our market is really tough right now: way more demand than homes. We’re seeing multiple offers on homes (one listing we have ended up with 11 offers), and we’re seeing “buyer fatigue”. When offer after offer falls through, it can get really tough. However, you don’t want to give up. This is where a good agent comes in: strategy. Working together with your lender, finding your range, and prepping you for the potential price battles out there. Navigating this market takes savvy. Savvy is what we got!

Lynnwood’s Corner of 195th & 36th

Carl Setzer1 Comment

I’ve noticed that the old Manor Hardware building has been fenced in for some time. It’s been dilapidated and decaying for some time, so the thought of something happening here pleases me. This spot does hold some significant history for good ol’ Lynnwood. Built in 1915, it harkens back to the Alderwood Manor/Pre-Lynnwood days. I didn’t see any public notifications for this property, but that doesn’t mean nothing is in the works. There is a lot happening in that area right now, so I expect something might get leveraged. This is part of the historic record, which will make any work challenging.

 

While looking into this, I found that there’s going to be a significant new apartment building going in on the old Edmonds School District office space (across from the Convention Center). The size of this really amazes me. It will be a nice location, though. That area should be able to absorb the additional traffic pretty well.

Some thoughts on Lynnwood

Carl Setzer

I noticed that the House of Rock restaurant going into the old Celtic Bayou space changed names. What does that means for a business that hasn’t opened its doors yet?  Perhaps there’s some uncertainty about their vision. To me, I worry that they’re more focused on their name and signage than on getting the doors open and serving customers. Thus that this might end up vaporware.

Another building is under construction at the Lynnwood Crossing site. Watching the way they’re developing lends me to believe they already have tenants for the space. I’ve not seen any signage, so don’t know for certain. Looking forward to seeing what lands there.

The changes I’ve witnessed in this area are  amazing. Development along 196th and over by the mall remind me of the changes in downtown Bellevue in the 80s. Lynnwood had a rather unique environment, though, so it will grow into a rather different business community.

Midweek Mortgage Thoughts

Carl Setzer

I was just reading Mortgage applications drop 6.6% on jumbo refi decline over at Housing Wire. There are some good insights into the national mortgage trends, which are a critical part of the housing market.

Refis are still the lion’s share of the mortgage market right now, holding 65% of mortgage activity. As the headline says, the jumbo loan market (>$417,000) is driving a decrease in mortgage applications. The larger the balance of the loan, the larger the dollar amount of any percentage rate fluctuation. Therefore, “borrowers with jumbo loans tend to be most sensitive to changes in rates. That sensitivity has been clearly apparent in the past few weeks with double and even triple digit percentage changes (emphasis mine) in refinance application volume for jumbo loans.” Jumbo loan holders are clearly feeling less motivated to refi right now.

The article expands out, slightly, looking at the rest of the market. Let’s follow along:

  • Adjustable-rate mortgage (ARM) share decreased to 8.2% of total applications.
    • I’d say that’s good on a macro level, as ARMs are a great vehicle to increase short-term affordability with lower rates about 1/2 that of a 30 year fixed. They are a pretty nice deal for the banks; they make money from interest. However, you want to be paying down principle, as that’s the main way to build equity.
  • Let’s Look At Interest Rates
    • FHA – 30-year fixed-rate mortgages  increased to 3.84% from 3.81%
    • 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.13% from 4.10%
    • 15-year fixed-rate mortgages remained unchanged at 3.28%
    • 5/1 ARMs remained unchanged at 2.94%
  • And a breakdown of mortgage types:
    • FHA  increased from 8.3% last week to 8.9% this week.
    • VA  increased from 9.6% last week to 10.7% this week.
    • USDA increased from 0.8% last week to 0.9% this week.

One key thing to keep in mind with all this: these are national numbers, and a look at the past. This stuff fluctuates daily, and regionally. But it does give some good insight into the overall picture.

Happy Wednesday, everyone!

HUD Properties, Process and Earnest Money Check Joys

Carl Setzer1 Comment

As many of you know, I’m something of an accidental real estate agent. I find myself managing the office of a team of agents, and my focus is on REO (aka: Bank Owned) and Government Owned property sales. One of my main functions is navigating the perilous maze of intrinsic weird contract “stuff” inherent in these transactions.

One my key sellers is HUD, and we’ve been seeing a few repeated issues with these contracts. HUD is pretty particular about earnest money checks. The biggest issue we’ve seen: the payee line. HUD wants to see “Escrow Company OR Buyer’s Name”, eg: “Chicago Title or John Doe”.

With the above, there’s another common issue: check type. They want either a cashier’s check or a US Postal money  order. Sorry, no personal checks; they’re looking for certified funds. Below is a slide created by BLB (the company charged with selling all HUD owned homes in Washington, as well as a few other states) to make it more clear.

HUD EMD Guidelines

With all this, we send tons of information as part of these transactions. As tempting as it may be to blast through these transactions minimizing the amount of reading you need to do, I counsel you against that. These hiccups do cause problems for transaction, thus delays and sometimes cancellations. A relatively small investment in time can, really, save you a lot of aggravation and grief.