Happy Mother’s Day!

Posted on May 11, 2012 by

A mother’s love determines how We love ourselves and others. There is no sky we’ll ever see Not lit by that first love. Stripped of love, the universe Would drive us mad with pain; But we are born into a world That greets our cries with joy. How much I owe you for the kiss That told me who I was! The greatest gift–a love of life– Lay laughing in your eyes. Because of you my world still has The soft grace of your smile; And every wind of fortune bears The scent of your caress.

Happy Mothers Day from your friends (& Moms) at Distinctive Properties!

www.distinctiveprop.com

 

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16th Annual Blues and Brews is here!

Posted on May 9, 2012 by

It’s back this weekend, May 11 & 12th …..Kennewick’s Untapped Blues and Brews Festival’s 16th annual event.

The Washington Blues Society and the Walla  Walla Blues Society will be hosting an International Blues Challenge event.  Bands from the Mid Columbia will compete for a chance to become the representatives for Washington State at the Blues Foundation event in Memphis next year!

This year, more than 30 breweries offering more than 70 different brews are expected.    For more information, such as performers, lodging, tickets, directions and event FAQ’s, visit www. untappedblues.com

See you at the Festival!

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Let Your Buyer’s Agent Be Your Guide

Posted on May 1, 2012 by
The home buying process can be simultaneously intimidating and exhilarating. From the first steps of qualifying for a mortgage and deciding what’s important in a home, to making a strong offer, coordination appraisals and inspections and getting to the settlement table, every transaction is as unique as the people and properties involved. Buyer’s agents specialize in representing the particular interests of
home buyers.
“The home buying process is not only complex, but also riddled with potential pitfalls, ” said Adorna Carroll, a 2005 National Association of Realtors vice-president and Accredited Buyer Representative with the Real Estate Buyer’s Agent Council.
“Having the right buyer’s agent can make all the difference. Home buyers today are empowered to interview and select a Realtor to represent them so that they can receive the advice and guidance they deserve. A buyer’s agent provides options and alternatives to home buyers so that they can make educated and informed decisions regarding one of the most important investments of their lives,” Carroll said.
Many home buyers already realize the benefits of working with a buyer’s agent. Last year, according to NAR research, 64 percent of consumers worked with a buyer’s agent when they purchased a home. In addition, 95 percent of home buyers say they highly value real estate agent knowledge, and 84 percent of home buyers who used an agent would “definitely” or “probably” use that agent again.
REBAC, an NAR affiliate since 1996, was founded in 1988 to promote superior buyer representation skills and services. REBAC awards the ABR designation to Realtors who have demonstrated a commitment to serving home buyers, both through education and experience.
To earn the ABR designation, Realtors must successfully complete a two-day designation course that covers agency, service delivery, marketing and promotion, and negotiation and risk management; take an approved elective course, such as buyer representation in new homes, second homes, or relocation; and have completed five transactions in which he or she acted solely as a buyer representative. Today, 38,000 Realtors hold the ABR designation, and 12,000 more are working toward it.
“Buyer Agency is sometimes misunderstood but a vital relationship in today’s increasingly complex real estate transactions”, said Janet
Branton, NAR vice-president of business specialties and spokesperson for REBAC. “You’re not just buying a home; you’re investing in your future. It’s important for home buyers to work with a Realtor who has the expertise and know-how to represent the buyer’s best interests”
read more helpful articles at our website at www.distinctiveprop.com
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National Open House This Weekend.

Posted on April 26, 2012 by

This Saturday and Sunday, April 28-29, the NATIONAL ASSOCIATION OF REALTORS® (NAR), will host thousands of Open Houses coast to coast educating consumers on the benefits of homeownership and allowing buyers to see what’s on the market.  Buyers use Open Houses to find that perfect home!, great opportunity for both buyers, sellers and our economy!

According the NAR, the sole purpose of this National Open House is to provide an opportunity for those interested in homeownership to connect with a Realtor® who can offer expert guidance and advice on the home buying process.

This idea, originally started by a Washington Chapter of Realtors in 2009 was so successful, it was noticed by the National Association and in 2010 the idea went national and just about every state participated.  2010 was so big that the National Association of REALTORS® is helping to promote the event for its 2nd year.

Distinctive Properties believes in the value of homeownership and the importance of community and we are proud to be holding the following Open houses this weekend:

Saturday April 28, 2012

3904 W 47TH AVE, Open 9-12:00.   $389,000.  (181768). Host: Amanda Compson, 392-2591 or 783-1431.   Canyon Lakes Dr, Olson, W 47th Ave, Kennewick.

4121 W NIXON, Open 9:30-11:30.  $189,000.  (182223). Host:  Susan Bond, 521-5167 or 783-1431.  Sylvester to N Road 42 to Nixon, Pasco.

4302 KINGWOOD,Open 10-11:30.  $155,000.  (181763).  Host:  Zara Ramonova, 528-7588 or 783-1431.  Gum to Kingwood, Kennewick.

465 COLUMBIA POINT, Open 10-12:00.  $279,900.  (181559). Host:  Terri Allender, 948-2324 or 783-1431.  Columbia Pt Dr, Crossings, Richland.

4808 MARIOLA LN, Open 10-12:00.  $274,900.  (180158).  Host:  Ana Cartagena, 987-8671 or 783-1431.   Burden, Adobe, Antigua, Pasco.

2111 SYCAMORE CT, Open 10-12:00.   $120,000.  (181179).  Host:  Michael Lavering, 528-7400 or 783-1431.   Lewis to Cedar, left on Alvina, right on Sycamore, right on Sycamore Ct, Pasco.

300 COLUMBIA POINT DR, J-139, Open 12-2:00. $325,000.  (182242).   Host:  Bill Prussing, 947-2497 or 783-1431.
Columbia Point, Richland.

8 SUNFLOWER CT, Open 12-2:00. $217,000.  (180288).  Host:  Susan Bond, 521-5167 or 783-1431.  W Court, S on Heather (Rd 72) to Ivy Ln to Sunflower Ct, Pasco.

664 SHERWOOD ST, Open 1-3:00.  $299,999.  (181545).  Host:  Wendy Bruchman, 308-0113 or 783-1431.  Keene, Westcliffe, left on Gala to Sherwood. Richland.

274 PIPER, Open 1-4:00.  $370,000.  (181956).  Host:  Michael Lavering, 528-7400 or 783-1431.  Leslie to Willowbrook, left
on Piper, Richland.

6675 SHALE, Open 1:30-3:30.  $294,990.  (178653).  Host:  Terri Allender, 948-2324 or 783-1431.  Paradise, Jade, Shale, W
Richland.

8524 W RICHARDSON, Open 3-5:00.  $385,000.  (180989).  Host:  Ana Cartagena, 987-8671 or 783-1431.  Court to Rd 84 to W on Richardson, Pasco.

Sunday April 29, 2012

6675 SHALE, Open 9:30-11:30.  $294,990. Price Reduced! Host: Terri Allender, 948-2324 or 783-1431. Paradise, Jade, Shale, WestRichland.

2105 DAVISON, Open 10-12:00.  $327,000.  Host: Ana Cartagena, 987-8671 or 783-1431.  GW Way, right on Newcomer, left on Davison, Richland.

224 E 8TH PL, Open 10-12:00.  $96,000.  Host: Michael Lavering, 528-7400 or 783-1431.   10th, Date, 8th Place, Kennewick.

1620 S PALOUSE PL, Open 11-1:00.  $165,000.  Host: Melissa Montgomery, 948-3147 or 783-1431.  Olympia, W on 16th
to Palouse, Kennewick.

2002 W 51ST AVE, Open 11-2:00.  $389,900.  (182331).  Host: Heather Wiser, 521-7049 or 783-1431.  Ely to 45th, right on Conway, left on 50th Ave, left 51st Ave, Kennewick.

2109 SHERIDAN, Open 12-2:00.  $215,000.  (181613). Host: Bill Prussing, 947-2497 or 783-1431.  Leslie to Greenbrook, Richland.

3904 W 47TH AVE,  Open 1-3:00.  $389,000.  (181768).  Host: Amanda Compson, 392-2591 or 783-1431.   Canyon Lakes, Olson, W 47th Ave, Richland.

664 SHERWOOD ST, Open 1-3:00. 299,999.  (181545).  Host: Ana Cartagena, 987-8671 or 783-1431.  Keene, Westcliffe, left on Gala to Sherwood, Richland.

197803 E BERNATH RD, Open 1-3:00.  $295,000.  (174808).  Host: Sid Hodge, 366-3916 or 783-1431.   Chemical Dr to Bernath to address, Kennewick.

1610 HARTFORD, Open 1-3:00.  $155,000.  (181663). Host: Michael Lavering, 528-7400 or 783-1431.  10th, S on Garfield, right on Park Hills, left on Hartford, Kennewick.

507 ROAD 37, Open 2-3:00.  $155,000.  (179557).  Host: Melissa Montgomery, 948-3147 or 783-1431.   Sylvester, S on Road 37, Pasco.

1738 MEADOW HILLS, Open 4-6:00.  $499,900.  (182138).  Host: Ana Cartagena, 987-8671 or 783-1431.  Keene, Shockley, Queensgate, Meadow Hills, Richland.

So, take advantage of this wonderful spring weather and find your dream home, learn about the market, the community and the vauled services you can receive from one of our Realtors at Disntinctive Properties!

See you this weekend, and look for the blue ballons!

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Housing Market Showing Signs Of Healing

Posted on April 17, 2012 by

With more Americans taking advantage of the record low interest rates by refinancing existing homes or applying for new home loans, families are making payments.  2 major banks reported earnings that are reflecting a housing market that is “healing”.

The largest bank in the U.S, JP Morgan Chase, reported record breaking new loans in the first quarter of 2012.  6% more loans than last year, with 33% more applications received.    Wells Fargo approved 54% more home loans than last year and received 84% more applications!

The future is bright for the US housing market!  Welcome news after the last several years.

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Bidding Wars!

Posted on March 28, 2012 by

The Hensley’s offered $10,000 above the asking price, a family picture and a written letter of introduction detailing there plans to build a family in the Renton neighborhood in Seattle.     They lost out to one of seven other buyers.

Bidding wars in Real Estate has not been seen since the market peaked in 2006, but they are making a comeback in Seattle and other parts of the United States.  Inventory of homes for sale are at a six year low, while affordability remains high. 

It is anticipated that listings will rise as banks accelerate foreclosures and confidence is regained in the housing market. 

Now is a great time to sell!  If you are interested in finding out what your home is worth, contact us at Distinctive Properties.  (509) 783-1431. 

“Distinctive Service for Distinctive Clients”.

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How much for closing costs?

Posted on March 22, 2012 by

When a home sale is completed and the title of the property is conveyed to the buyer, it is referred to as “closing:”  There are typically a variety of costs that come with the transaction that are paid for by either the buyer or the seller. These costs are also usually paid at the time of “closing”.

Down Payment: Other than a VA Loan or a Rural Housing Loan which do not require a down payment, most lenders will require a down payment. Plan for at least 3.5% – 5.0 % of the purchase price depending on your loan.

Loan Origination Fee: Based on who you are working with, the amounts will vary, however an Origination Fee is paid to the loan officer who initiates and completes the loan transaction with the home buyer.

Points: Points are charged by the lender as an alternative to charging a higher rate of interest on the mortgage loan. One point equals one percent of the loan principal.

Home Inspection: Some lenders require an inspection to verify that the home, which will be used as collateral, is in good condition and will retain it’s value.

Appraisal: Some lenders require an appraisal of the value of the home to ensure that the sale price is equal to the actual fair market value of the home.

Private Mortgage Insurance: If loans where more than 80% of the home value will be mortgaged, some lenders will you to have PMI. This insurance will protect the lender in the event of a default on the loan.

Knowledge is power

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Buying in a Homeowners Association.

Posted on March 15, 2012 by

A Homeowner’s Association (HOA) can be very attractive to potential buyers of a home.  A HOA fosters community togetherness through common areas and activities.  You can get to know your neighbors and helps maintain the curb appeal of your neighborhood, as well as your home.  An HOA is incorporated by the developer of the subdivision prior to the initial sale of homes in the subdivision. 

Covenants, Codes & Restrictions (CC&R’s) are the governing documents that dictate how the HOA operates and what rules the owners, and their tenants and guests, must obey. These are legal documents and commonly referred to as bylaws.   These CC&R’s or bylaws are documents and rules that are legally enforceable by the homeowners association.  CC&R’s legally “run with the land”, so when you sell or purchase a home with an HOA, membership changes hands and new owners become automatic legal members.

When considering a purchase of a property with an HOA, do your homework.  Not all HOA’s are equal. Some may be laidback on enforcing rules and others may have a history of poor financial management.    Meet with the HOA board or discuss the CC&R’s with your Distinctive Agent.  You want an HOA that is fiscally responsible, and has the money on hand for any major repairs of common areas, such as a swimming pool, community building, parks and sidewalks.    In addition, you may have plans for the home, such as tree removal or a detached building that may be restricted under these bylaws (CC&R’s)

Find out about dues.  Many HOA’s charge dues either monthly, quarterly or annually.  These fees should be used to pay for upkeep on common areas and handle any possible legal fees. These fees are above your regular monthly mortgage and bills you are to pay. 

Finally, check out the dollars and sense.   What is included in your dues, does the trash pick up or water service come included in the fee?  Basically, does the benefits recieved outweigh the cost you will be required to pay?

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National Association of Realtors speaks on Obama’s Budget Proposal.

Posted on February 24, 2012 by

 

The following is a statement from Moe Veissi, President of the National Association of Realtors (NAR):

As the leading advocate for housing and homeownership, the National Association of Realtors (NAR) is strongly opposed to elements of President Obama’s budget proposal that would limit itemized deductions, including the mortgage interest deduction (MID), for thousands of families.

“NAR firmly be…lieves that the mortgage interest deduction is vital to the stability of the American housing market and economy. We urge the president and Congress to do no harm.

“While progress has been made in bringing stability to the housing market, the recovery has been slow. The nation’s homeowners already pay 80 to 90 percent of U.S. federal income taxes. Raising taxes on them, now or in the future, could critically erode home values at all price levels. This would destroy middle-class wealth accumulation and trillions of dollars in home values nationwide.

“The MID must not be targeted for change. Any modifications to the deductibility of mortgage interest will harm housing and homeowners, and until housing markets have stabilized, there cannot be a robust economic recovery. Realtors® are actively engaged to ensure that America’s 75 million home owners will continue to receive this important benefit.

“NAR also strongly opposes eliminating capital gains treatment for any carried interest of a real estate investment partnership. The loss of capital gains treatment for income from a carried interest could disrupt the conventional business model and places an unfair tax burden on general partners – ultimately this would negatively impact commercial real estate investment.”

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