3 Reasons Housing Market Is Not A Bubble

3 Reasons the Housing Market is NOT in a Bubble

With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago.

Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild.

Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash.

Where we are today…

1. If we look at lending standards based on the Mortgage Credit Availability Index released monthly by the Mortgage Bankers Association, we can see that, though standards have become more reasonable over the last few years, they are nowhere near where they were in the early 2000s.


With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago.

Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild.

Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash.


Where we are today…

1. If we look at lending standards based on the Mortgage Credit Availability Index released monthly by the Mortgage Bankers Association, we can see that, though standards have become more reasonable over the last few years, they are nowhere near where they were in the early 2000s.

2. If we look at new construction, we can see that builders are not “over building.” Average annual housing starts in the first quarter of this year were not just below numbers recorded in 2002-2006, they are below starts going all the way back to 1980.

3. If we look at home prices, most homes haven’t even returned to prices seen a decade ago. Trulia just released a report that explained:

“When it comes to the value of individual homes, the U.S. housing market has yet to recover. In fact, just 34.2% of homes nationally have seen their value surpass their pre-recession peak.”

Bottom Line

Mortgage lending standards are appropriate, new construction is below what is necessary and home prices haven’t even recovered. It appears fears of a housing bubble are over-exaggerated.

Posted on May 11, 2017 at 8:01 pm
Denice Neddo | Posted in Buying, The Market Stats |

Home Repairs You Need To Budget For


As a new homeowner, (or if you are a seasoned homeowner) you’re going to have to do some regular repairs and maintenance on your home—it’s just part of owning a home. A little bit of planning can make repairs manageable, it’s a good idea plan for repairs and start budgeting for them.  Set aside some funds for when the following repairs and maintenance issues inevitably come up.

  1. The Roof – Maintain your roof so that you get the longest life possible.  Begin by agitating any large clumps of moss with a stiff brush, then you can blow the loose debris off of the roof with a backpack style blower.  If you don't want to tackle this job yourself, you can call a local roof cleaning and maintenance company to come out and take of moss and debris for you.  Plan on it costing around $300.  More if you have a huge roof or the pitch is steep.  All of the moss and debris needs to be removed and then cleared from the inside of the gutters and the downspouts.  Applying a zinc sulfate to the roof will kill any of the remaining moss.  It's left on the roof and kills all moss within about a month.  It's pretty environmentally friendly and won't harm your plants or siding. The rain and the wind will take care of the rest of the moss. Plan to do this or have this done every couple of years, and plan for every year if your roof is surrounded by tall trees that drop leaves and needles on roof.  If your home is in a shady spot, moss loves it there.  Your roof should last 20-40 years for composite style asphalt shingle roof.  But, if you bought your home when it was several years old already, make deposits into that saving account, roofs are not inexpensive to replace. 
  2. Electrical replacements – Beyond light bulb replacements, wiring can occasionally go bad in a light fixture and cause issues, call an electrician to come out and check things out.  Squirrels and mice can chew on wires in an attic. Simply using electricity produces heat, over time, that heat causes expanding and contracting of an electrical system.  The cyclical heating and cooling can cause screws to loosen in the electrical panel.  Have an electrician look at your electrical system every year or two.  
  3. Drywall Repairs – Bumping a wall or corner when you are moving furniture is easy to do. Repairing a hole in your drywall can cost up to $300 for a professional repair that matches the texture of the wall. 
  4. Plumbing Repairs – The moving parts inside the toilet tank can wear out over the years,, and you will need to get it fixed quickly to save on water bills and keep things working.  Sometimes a slow leak can start with a water supply line, and drips build up.  Damage from water is not fun to deal with and can be very expensive if left un-addressed.  Professional plumbers can cost up to $150 an hour depending on the job, the plumbers availability, and the time of day that you need them. 
  5. Flooring repairs – Your floor goes through a lot of abuse, and it's not just the day to day wear.  Heavy objects, moving furniture and accidental issues can cause damage.  Repair costs can vary depending on the type of flooring, i.e. carpet, laminate, wood flooring, vinyl, etc.  So set aside at least $200, just for repairs. 
  6. The furnace and A/C – It seems like one of these is running at all times.  Your furnace needs a new filter ever 6 months, and you should plan to have your entire system cleaned and checked by a professional every year.  the cost of filters varies, but they can cost up to $45.  Annual service on the HVAC can cost between $100 – $250. 

Plan ahead, make a budget and know that maintaining your home is money well spent! Remember that quote, "an ounce of prevention is worth a pound of cure". It's true when it comes to maintaining your house, too!

If you would like the names of our preferred providers, let me know.  We have relationships with many vendors in the area, and many of them even offer a discount to our great clients.  

Denice Neddo, Broker 





Posted on October 30, 2015 at 8:09 am
Denice Neddo | Posted in Uncategorized | Tagged , , ,

The Really BIG List of Things TO DO Before You List Your House For Sale

The really big list of things you need to do starts way before the stager comes, way before you decide on price, and needs to be discussed with your Listing Agent or Broker.  

First, how fast do you need to get moved?  If it is fast, you need to get started immediately and follow this step by step guide.  


  • De-clutter – You need to do all that you can to make the house as free of clutter as you can.  If you have a lot of stuff, pack it up, and put it in a pod or a storage unit while you’re selling your home, you will be moving anyway, so start gleaning now. Nothing says “this house is cramped” like a house full of stuff. 
  • Clear off counter surfaces: Clear everything off the kitchen and bathroom counters, the mantel and book shelves.  Less is more!  Show off your space not your stuff.  
  • Un-personality your home: You may love the paintings and wall decor, but selling time is neutral time.  Look at model homes in new construction neighborhoods, copy what they do, decorate to enhance the features of the house, not to show your personality.  Keep personal photos to a minim.  You want potential buyers to picture themselves living in the house, not to feel like creepy peeping Tom's looking into your life!
  • Fix obvious issues that need repair:  If you noticed the cracked drywall, buyers will too, take care of it before listing. If the kitchen faucet drips, take care of it, and make sure the hard water deposits the drip left are cleaned up, too.  The ripped screen on the slider to the patio…..you get it, time to replace it.
  • Freshen up with paint: A coat of neutral color paint will make your house shine.  You may love the red kitchen, but you will want that kitchen to appeal to the masses. Some rooms may just need a touch up, but remember, if you paint the filled nail holes where your wall art was, those small circles will look like polka dots if you don't paint the entire wall.   Light neutral colors will make the rooms look large and bright, too.
  • Caulk it: A fresh clean line of white caulk will make your bathroom shower look fresh and bright, watch a couple of YouTube videos on how to apply it like a pro.
  • Update outdated or unsightly fixtures:  If your home is over 10 years old and you haven't updated the light fixtures or faucets, you can easily update that outdated look relatively inexpensively. Changing the towel racks and adding a frame to the mirror in your bathroom can update the look for not too much money.
  • Replace or clean the outlet and light switch covers: With a flat blade screw driver you can remove the covers and run them through the dishwasher, if the screw heads look scraped and warn, you may want to spend a couple dollars and replace them, if not, clean is the way go. The outlets and switches will look great!
  • Replace warn carpet: If the carpets are old and warn, stained or threadbare you will get more money for the house if you spend the money now and replace the carpet.  You don't have to spend money on top of the line replacement carpeting, new carpet and new pad will make the house smell clean and new, and will show the features of the room off.  If your carpets are relatively new, have them PROFESSIONALLY cleaned.  
  • Replace your light bulbs: Replace the bulbs in your light fixtures to the brightest available. Nothing will make your home show better than great lighting.  Florescent bulbs that take time to warm up may take too long for a buyer to get the real feel for your home.   a
  • Clean the shades/curtains:  The dust can collect and dull the luster of the natural light, give the curtains a good vacuuming, if they still look dull, have them cleaned or consider a trip to IKEA or Target.  
  • Pack up clothes and accessories: If your closets are jammed with clothes, pack away the ones you don’t need and put them in storage. The roomier you can make your closets look the better!
  • Oil squeaky doors and hinges: Go around the house and oil any squeaky doors and hinges.  Squeaky hinges can make a house feel old.

There are also quite a few things you can do outside the home to make sure that it has great curb appeal.



  • ​​Clean your windows:  Make sure to clean your windows so that they look clean from inside and out, and let plenty of light in.
  • Wash the house down: If you’ve got siding on your house, give it a good cleaning so that it looks fresh and new. Spraying it down with the hose may be all you need, if it's been awhile, a powerwash may be the answer.
  • Clean the moss off  the roof and walkways:   If your patio and sidewalks have moss on them, you could have a slip hazard, take care of it before the first buyer comes by.  There are products you can treat your roof with as well, most are available at hardware stores, or calling a roofing company could be a safer way to go.
  • Paint the house and/or trim: If your house paint is peeling and is looking worn, you may want to consider painting the house. At a minimum painting the trim can be a good idea.
  • Trim the bushes back: If you’ve got big overgrown bushes in front of the house you may want to consider cutting them back a bit.  If bushes or undergrowth gets too out of control, it can hide the house and make it feel out of repair.
  • Plant flowers and other plants: Consider planting a few bright colored, inexpensive flowers and plants, or get a planter to put in front of the house.   
  • Fresh barkdust: Put down a few fresh bags barkdust in the beds to define the yard and landscaping.  The result shows that you maintain things, including the landscaping.
  • Clean the AC unit condenser:  Make sure to clear debris out of your AC unit condenser coils, and hose it down to make it clean, if it has been awhile since you have had the unit serviced, consider a preventative maintenance visit from your local HVAC company.
  • Make the home’s entry inviting: Spruce up the home’s porch, front door and entry way make your home's first impression on a potential buyer.  Make sure it is a good one! 
  • Clean, clean, clean: Your home needs to shine from top to bottom.  Remember that there are multiple definitions for a clean house.  You will need to meet the pickiest buyer's definition of clean.  Before you list, you may want to consider hiring a professional cleaning team to come in and give your home the once over.  The corners, trim, and surfaces may need a good one time deep clean before that For Sale sign goes up in the yard.

When it comes down to it, if you spend a few dollars to fix, clean and de-clutter your house before you place on the market, your home will sell for more money in less time.


Selling your home can be quite the undertaking, but if you put in the time, do your research and do what it takes to make the sale, you could end up with thousands more in your pocket because of your hard work.

When you are ready to list, call us, let us show you how you may get even more money in your pocket by hiring our team.  It doesn't cost you more to go first class.  

Denice Neddo    360-607-4226                 Christina Waterhouse   (206) 495-5015

Posted on October 19, 2015 at 2:51 pm
Denice Neddo | Posted in Uncategorized |

Vancouver #1 In NATION For Rising Rents

Vancouver WA is now #1 in the nation for rising rents. 

If you are a tenant in this town, you don't need a news report to tell you that your rent is super high.  But, what can you do? 

Scroll to the bottom to take a look at a recent news broadcast on KGW channel 8.

Here are several ways to reduce your spending so there is more money in your checking account when it is time to write the rent check: 

1. Get rid of the stuff you don't need and don't use.  Have a garage sale, place an ad on craigslist, or post it on Facebook.  Then, SAVE THE MONEY!  If you just have stuff, and it is won't sell, get rid of it.  Declutter and create more space.  Having more space will make the small area you live in more enjoyable and actually live larger.

2. Walk. Discover your neighborhood, meet your neighbors and check out the services that are close enough to walk to. The other benefits, regular exercise can help you reduce your wiegh, and even reduce long term medical costs.  A simple walk can even improve how you feel, and increase your energy levels. How does this save you money?  Spend an hour walking, not buying gas, not at the gym (which costs money) and improve your fitness.

3. Unplug appliances and electronics you are not using. Lots of those electonic devices eat up energy eeven when they are not on. That means your X-Box, the toaster, the coffee machine, the stereo you never use unless friends are over.  Unplug and save that money on your electric bill.  Only plug in when you use them. 

4. Ditch your bank and find one that honors you.  Are you paying a monthly fee for your checking account? You may need to check into a credit union or a bank that doesn't charge you for keeping your money there. Check out the ATM fees and only use ATMs that don't charge you.  Check the online services, and one that will pay you interest on your checking and savings. A simple switch could save you $20 or more a month and it won't make any difference in how you live, in fact it may even make your life simplier with some good onkine banking.

5. Make a list when you go to the super market. Check your cabinets and pantry before you go to the store. Make sure you only get what is on your list, and don't buy things that you already have. Make a menu, what will you eat this week?  Then eat it! 

6. Shop at the lowest priced grocery store in your neighborhood.  I know it may be quicker to stop a store on your way home and grab a few things, but is that store offering the best prices?  Make sure you know and only shop at the store that truly offers the best prices. 

7. Clip some coupons.  Well, down load the app.  There are several apps that can help you find all of the local coupons for your area.  Then check out sites like Simple Dollar Coupon Finder, free coupons there every day.  See if there are manufacturers coupons for the things you are going to buy anyway.  Plan your weekly meals and needed items around what you can save money on by looking at the grocery stores weekly circular.

8. Stop by the library and borrow a movie or a book.  Rentals add up, they count on you being late.  So, check out the library instead.

9. Drop the satillite or cable TV.  Try the 30 days of free Netflix, then if it seems like you will miss TV on cable, get the $7.99 a month deal.  Then make sure you put the savings into your account marked SAVINGS! 

10. Make sure you have a savings account.  Even if you can only put $10 a month into that account, $10 x12 months is $120 you didn't have before.  Once you start saving, guess what?  You will want to save more! 

11. It may be time to look at BUYING a house.  Did you know that you could buy a house in Washington for zero down? If you are paying rent, and it is more than $1000 a month, with good credit, you could probably buy a house.  A $200,000 house with a zero down loan, may get you a payment between $1100 and $1200 a month.  Once you factor in the tax savings, you will be paying less for a house than you would for rent.  


Maybe it's time to talk.  Call me at 360-607-4226


Posted on August 31, 2015 at 3:38 pm
Denice Neddo | Posted in Uncategorized |

Street of Dreams, Just Dreams, or Just a Street?

Street of Dreams, Just Dreams, or Just a Street?



This year the Street of Dreams® was held in Lake Oswego, at a neighborhood called “The Highlands”.  The Highlands is at the intersection of Goodall and Knauss roads, near Lake Oswego High School.  The highlight of this year’s Street of Dreams® was promoted as “ A new era of Northwest style, inspired by John Yeon and his mid-century modern Shaw House.”  

There was a defniate theme this year, not too much was distinctive, the whole show had the feel that we all should love and embrace the mid-century mode.  From the colors to the furniture, there was the theme.  In fact there were so many of the houses that had the same color scheme it is hard to remember which house was which.  From the exterior, the homes were a bit different, but the interior design and decor seemed to follow the mid-century look.  One home even had parquet flooring, you know just like the flooring the Boston Celtics play on.

One home really wasn't  in the mid-centry wardrobe, but you couldn't tell that from the street.   I was a bit confused as to who the buyer would be, it felt a bit as though the house was specifically built with a certain ethnicity in mind.  Asian or South Asian? 

I didn’t really see anything this year that made me say, “Wow!”  This year, I say, it was just a Street.  

Denice Neddo

Real Estate Broker 




















I have been to the Street of Dreams every year for I don't know how long.  This year the Street of 

Posted on August 25, 2015 at 1:54 pm
Denice Neddo | Posted in Uncategorized | Tagged , ,

Top Ten Tips for Creating “Wake-Up Money”

Top Ten Tips for Creating “Wake-Up Money”

1.  Buy residential properties – houses, condos and townhouses.  Stay away from land and commercial real estate unless you are an experienced investor or are buying as a business “user”.

2.  Buy “mainstream ” houses and condos. Buy properties that are at or below the average sales price.  Buy properties that appeal to most buyers.  Avoid high priced or unusual properties.  Buy houses with at least 3 bedrooms and condos with at least 2.  If possible, buy properties with a garage.


3.  Don’t buy with partners, unless you have to.  If you have to have partners, make sure they have the same goals and values, are of similar age, and have job, geographic, and marriage stability.

4.  Believe in the long run. Real estate markets are cyclical but the long-term trend has been up.  Hang in there for the long run.  The great investor’s lament is “I should never have sold that property.”  The other investor’s lament is, “I could have bought that property for $_________!”

5.  Take care of your property and it will take care of you . . . It’s your “golden goose.” If you don’t like property management or are too busy, either hire a professional property management firm or buy condos and townhouses.  They take a lot less management.  The homeowner’s association takes care of most of the property management.

6.  Get started early.  Put time on your side. Albert Einstein was once asked what he thought was the most powerful thing in the world.  His reply, “compound interest.” Don’t wait to buy real estate.  Buy real estate and wait!

7.  If you don’t have the money, make a plan and a commitment to get it. You could borrow money from your personal residence but I don’t recommend this idea.

8.  Know your “enough.” How much “wake-up money” do you need?  Know when you are ready to stop accumulating property and start paying off what you have – and enjoying life!

9.  Work with knowledgeable people. Pick Realtors, accountants, attorneys, and property managers who know what they are doing.

10. Have a goal and a plan. Develop your goals and a plan to achieve “Wake-up Money.”

Reprinted with permission of Larry Kendall and The Group, Inc.

Posted on August 12, 2015 at 11:44 am
Denice Neddo | Posted in Uncategorized |

What You Need To Know About Easements

What You Need To Know About Easements 

In some real estate transactions, it’s not until the middle of the deal that a home buyer realize that the land they thought they were purchasing with their home is not 100 percent theirs. Most are shocked to discover that they are obligated to allow the neighbors to “share” part of their land, or that the local utility company has a right to access a pipe buried in their back yard.

How can this be? In both examples, the properties have what’s known as an “easement,” otherwise known as a “right-of-way.” This easement grants other designated people the right to specific types of access. Easements can be granted to another person, such as a neighbor, or to an entity, such as an electric and gas utility.

A property easement is generally written and recorded with the local assessor’s office. The documented easement will show up when a title search is conducted and it stays there indefinitely, unless both parties agree to remove it.

Without getting too deep into legal details, here are the types of easements worth knowing about.

1. Right-of-way through your property

As a homeowner, you would probably assume that you’re purchasing the land around your home, front yard, back yard and driveway. But that’s not always the case. Often, when you review the preliminary title report, you may discover that someone actually has a right-of-way through your property.

This is common in the case of a long driveway or a home that may be set back from the street. It could have been that in order for a neighboring home to have been built, that property’s owner negotiated with a previous owner to gain a right-of-way through the front of the parcel or driveway for the home you are buying.

In this scenario, you own the land, but the owner of the neighboring property has been granted right to pass through your property. In some instances, the previous owner might have been compensated for granting this access. The important thing to know is that easement carries over when a new owner assumes the property.

2. Right-of-way grant

If you’re the homeowner who needs access to a neighboring property, or you discover that the driveway or walkway to your home is actually not 100 percent yours, there’s usually nothing you need to do. It’s just important to be aware of these conditions, and that this is not entirely your land.

Depending on the size of the easement and the type of land it covers, there may be some issues regarding maintenance. For example, it may be your responsibility to keep up the land: Mowing the lawn, shoveling the pathway or maintaining a fence. If there’s a maintenance ambiguity, check with the current seller to understand how she and the other owner worked this out in the past. Many times an easement like this, known as a “Right-of-Way Grant,” has been on title through the course of three or four owners, making the original intentions or understandings not explicit. Understanding how the easement has worked in most recent practice is your best course of action.

3. Other types of easements

Anyone who lives in a condominium or some type of planned development likely spends many hours working on property they don’t own outright but have access to. Most likely, the condo or planned development’s homeowners association (HOA) actually owns those areas, but each resident or owner has a right to pass through, which is one obvious type of easement.

But some easements aren’t so obvious and take buyers and homeowners by surprise. A classic example is one in which a utility company, such as an electric and power company or a telephone company, has an easement through your land for the purpose of maintaining the utility.

There was a situation near San Jose, CA, in which the electric and gas utility had an easement through someone’s backyard. It had been on title for many years, but the existing owners didn’t know about it. One day, the electric company showed up with digging machines and materials and made a mess of the yard digging to fix a faulty line. Though the owners were shocked, there was nothing they could do.

Situations like these show why it pays to be cautious if an easement shows up in a property title search. Ask the title company, attorney or your REALTOR to retain all documents pertaining to the original easement in order to review the details. That way, you will know the exact location of the easement, its size and scope and how it’s to be utilized.

Often, there’s not a problem with easements, but it’s still important to check. Any potential red flags might wind up affecting the value of your home.

In the case of the house in San Jose, for instance, what if the utility company had done permanent damage? What would be the homeowner’s recourse, if any? It’s best to vet these things before closing, rather than facing a serious real estate dilemma down the road.

Make sure you are working with an agent or broker that understands easements and right of ways, you will be glad you made a good decision to have great representation.  

Contact Denice at 360-607-4226


Information from Brendon desimone, posted on zillow 3/2012 

Posted on July 23, 2015 at 5:58 pm
Denice Neddo | Posted in Buying, Selling | Tagged , , , , , , ,

If you’re thinking about buying this summer, act soon!

If you're thinking about buying this summer, act soon! Prices are going up!

Don't miss your chance, interest rates are still low, but for how long?  When prices and interest rates are on the rise, you need to move fast!  

New loan products are available, if you have thought about buying, you owe it to yourself to make a call, you may be surprised how easily you can qualify to own your own home now. 


Call me today! Denice 360-607-4226

Posted on July 9, 2015 at 9:10 pm
Denice Neddo | Posted in Uncategorized |

Temperatures Are HOT & So Is the Real Estate Market

Temperatures Are HOT & 

So Is the Real Estate Market in the Portland – Vancouver area!  

If it seems like the Portland-Vancouver residential real estate market just keeps getting hotter, and hotter…..

it's probably because it is!  

Home sales are up, interest rates are down, and the economy looks pretty good.

According to the latest Market Action report from the Regional Multiple Listing Service, May saw more healthy real estate activity in the Portland metro area. Closed sales (2,942) showed a 18.5% improvement over the 2,483 closings posted in May 2014 and a 7.6% improvement over last month, April 2015. This was the strongest May for closings in Portland since 2006, when there were 3,054 closings posted for the month!  The STRONGEST MAY SINCE 2006!! 

And, it is not just Portland seeing these great numbers, Southwest Washington had an incredible May as well. Pending sales (920) showed a 23.2% improvement over the 747 offers accepted last May, and a 7.7% improvement over the 854 offers accepted in April. This was the strongest May for pending sales since 2005, when there were 1,130 offers accepted for the month.  

The Clark County, Washington real estate marketplace has some unique characteristics. There is a much higher proportion of active residential listings in Clark County that are Proposed, defined as "not yet under construction", than exists in any other RMLS™ area. This means that there are fewer homes listed as Active that are ready to move into in an immediate timeframe. According to the Regional Multiple Listing Serivce, Inventory in Months of Readily Purchased & Occupied Listings: 1.8.  That means if all of the homes listed for sale sold, and no others came on the market, they would all be gone in 1.8 months.

If you have thought about selling, now is the time!  Just look at the stats. 

Denice Neddo, Broker – Realtor 

360-607-4226 call or text me today, your home may be worth more than you think! 


Posted on July 8, 2015 at 5:29 pm
Denice Neddo | Posted in The Market Stats | Tagged , , , , ,

I Hate Bidding Wars

I Hate Bidding Wars 


I hate bidding wars, how to make an offer and avoid paying too much


The inventory is still LOW!  How are you going to position yourself in today's competitive market and buy house without feeling like you paid too much?  

Here are some strategies:


1. Write your offer quick. When you find the home that fits all your requirements, write an offer quickly and make it attractive to the seller. Avoid a bidding war at the onset by making your purchase contract a convincing one.


2. Do your research ahead of time.  Don’t play around with the asking price of the home. Do your research and if the house warrants full price, offer full price.


3. Proof of funds. Include bank statements proving the availability of a substantial down payment. The lower your down payment, the more questionable your offer is to a seller. Sellers look for strong buyers who aren’t at the mercy of mortgage lenders or appraisers. Showing that you have funds available can give  the seller confidence that you can make up the difference if the home doesn’t appraise up to the mortgage amount.  Also include strong amount of earnest money with your offer to show the seller that you’re a serious buyer. 


4. Don't include a bunch of contingencies.  Go ahead and include a home inspection and financing contingency,  but don’t ask the seller to take care of or reduce the price based on small problems your inspector finds.  Get that inspection done immediately!  The sooner the better.  Submit your mortgage pre-approval with the purchase contract. The more cash you have available to put into the transaction the more attractive your offer. Remember that other offers will come in and you want yours to STAND OUT…. eliminate other minor contingencies and make your offer as clean as possible. Know your limit if a bidding war ensues and don’t get caught up in the "eBay Effect" and the emotions of "I am not letting someone else take this away from me”. 


Move on to another property if the bidding goes beyond what is reasonable for the market.


5. Be flexible when it comes to closing.  Find out when the seller wants to close and write your offer to coincide with his plans. Freeing the seller of pressure to move makes your offer more attractive, especially if there are children and school terms involved. Offer to close and rent the house back to the seller if necessary. Involve the seller’s emotions and include a letter with your offer that indicates your appreciation of the property and how you and your family look forward to living in the seller’s lovely home.



Posted on April 10, 2015 at 9:19 am
Denice Neddo | Posted in Buying | Tagged , , , , , ,