Housing Trends and Resources Newsletter

AUGUST - 2012 Newsletter Housing Trends eNewsletter

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.


The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

Please click here to view the AUGUST - 2012 Newsletter Housing Trends eNewsletter.



If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

A New Look in Levittown

Ever heard of Levittown, New York? For many, it’s just a hamlet located in Nassau County, somewhere between Hempstead and Farmingdale. In actuality, Levittown is, in many ways, considered a historic example of suburban planning; it is considered the first mass-produced suburb in America and is named after the father of the suburb, William Levitt. We were in this historic area recently, finishing up a massive home renovation. We completely revamped an attic and turned it into a living space, with shelves and a rather large closet. We also completely redid the stairs and living room, which got brand new walls and a paint job, as well as a brand new ceiling fan and light fixture.  We’re still finishing up some smaller projects in the home but we thought we’d give you a sneak peek at how we made this ordinary suburban home into something unique for our customers. Enjoy!

BEFORE:

AFTER:

Orientation for New Real Estate Investors

On September 15, REAPS will host another half-day orientation for new investors. This training is absolutely free, open to both members and non-members, and provides a great overview of resources and opportunities available through your real estate investor association.

Anyone who wants to learn more about real estate investing, and about the Real Estate Association of Puget Sound, is welcome.

We will cover the history, structure, and leadership of REAPS, presented by board members and practicing real estate investors Angelique Tinney and Mike Sumsky. Angelique is Chair of the REAPS board, a long-time REAPS board member, and works in the King County Tax Assessor’s Office. She holds a Washington state real estate license, and is currently building new residential on a subdivided lot on the East side. She is a great resource for any questions related to property taxes, tax lots, subdivision, or property values in King County.

In the orientation, Angelique will also talk about REAPS membership in the National Real Estate Investment Association, and how this might benefit investors locally as well as with any out-of-state investing. She will also cover volunteerism and ways to get involved through REAPS.

Mike Sumsky is one of the founders of REI Kitsap, facilitator of the monthly Kitsap meetings, and an expert in lease options and private lending for residential investments. He will be talking about the educational opportunities available for investors through REAPS, including monthly and satellite meetings, professional ethics in the investing industry, and creating credibility through participation in the Professional Housing Provider program offered through REAPS.

Joe Brown and Jordan Reeder are professional business partners involved in commercial acquisition and multifamily syndication in Oklahoma and Texas. They are the “go-to” guys when it comes to membership benefits of REAPS. They can tell you how to maximize your visibility in front of other investors and lenders, and how to save lots of money on those residential flips through skillful use of the many REAPS member benefits. They can even show the novice investor how to set up their back-office systems using REAPS benefits.

Dawnya Ikerd is a shy, but unusually successful real estate networker. Virtually every position in real estate she has held recently has been thanks to her networking through REAPS. She oversees the partnership program of REAPS, which provides great opportunities for corporate visibility in front of investors. She will cover opportunities like advertisement and articles in the monthly magazine, and speaking opportunities in front of the REAPS membership, for any investor looking for business connections and greater visibility.

Todd McMeckin, who also works at the King County assessor’s office and who invests in North Dakota real estate, will be helping out at the registration table for this free event.

A no-holds barred, question and answer session follows at the end of the orientation, for any burning questions that a new investor may care to ask. All will be facilitated and moderated by yours truly, and my bio follows at the end of this blog.

This orientation is now required for anyone who wants to volunteer through REAPS. Please invite your family, friends and loved ones – anyone who cares about you and this wacky new direction you are pursuing. Or anyone else who may be interested in real estate investing. Because space is limited, we ask that attendees please pre-register.

The meeting is held from 10:30am – 1pm, Saturday, September 15 at the Lake City Library in Seattle. There is plenty of free parking. Visit www.reapsweb.com for more details.


Wendy Ceccherelli is the volunteer membership coordinator for REAPS. She has been a full-time real estate investor since 2006, and is the designated real estate broker for Home Land Investment Properties, Inc. Prior to her career in real estate, she spent twenty-five years as a government arts funder. More information on real estate topics may be found on her website at www.HomeLandSeattle.com

Before & After: New Walls and New Fixtures in Westbury

Westbury, a village out in Nassau County, NY, is a hell of a nice place to work during the summer months. Sure, we were working on our customer’s bathroom for most of the time, but when you got to see the light of day, coming in or leaving for the day, it’s very nearly bucolic in its way. We were out there doing a complete renovation, complete with new fixtures (upgraded sinks and faucets) and totally redoing the bathtub; in fact, we replaced the entire tub with a fantastic new open shower area, a popular item as of late. Lots of tile work and a lot of time was spent on the design as well, but overall, I think we made the most of the space. Don’t you agree?

Before:

After:

Why Be a Private Lender?

Today I lined up a private lender for the SFR investment property I am buying in Ballard, one of Seattle's hottest real estate markets. The seller is financing 91% of the purchase price for five years at five percent simple interest. My private lender is putting up the remaining amount needed to close the transaction and make a few improvements to the property.

Why is the private lender in second position willing to do this?

One reason is because he is earning 7% on his investment, more than he can earn in the stock market, in the bank, or in any other investment that he knows.

He is using his Individual Retirement Account (IRA) to make this investment. His IRA funds are in a self-directed account that he set up, so that he could direct his own investments. He has checkbook control, and makes his own decisions about the best places to invest his money. He is a real estate investor and happens to like investing in real estate, more than stocks and bonds.

Many people are not aware that it is possible to self-direct your retirement funds, and that real estate is an eligible investment. I would be happy to refer people to the good folks at Equity Trust Company or at Guidant Financial to learn more about how to do this. Just contact me at HomeLandInvestment@gmail.com and I can send you their information.

This private lender wants a return on his money that will not eat into the principal in his investment account. More passive investors may just let their financial advisors invest their retirement funds, proclaiming that the loss of their principal is just a natural part of investing in securities. What rate of return do these advisors offer? Chances are they won't be willing to state a rate of return, because they have NO CONTROL over their product.

This private lender does not want to lose his hard-earned funds to the vicissitudes of the stock market. His investment with me is secured by both a promissory note and a deed of trust on the property. He has tangible collateral securing his investment.

This private lender is also investing with someone he knows and trusts. He knows that I am an active investor and has met me at the local real estate investment meetings. I have credibility because I am an active volunteer in the real estate investment community. In addition, I have shared with him my credit ratings, so he knows that I am a good risk and a responsible borrower.

Local rents on this property will more than cover the costs of the borrowed funds. So I am able to pay both private lenders, while making enough of a profit to stay in business.

My private lender is also lending money because he wants to learn more about real estate investing. He has decided to lend money to me because he wants to learn more about my investing strategies. And he will.

For a free special report on Private Lending, contact me at HomeLandInvestment@gmail.com and happy lending!

Rent to Own Home Open on Sunday!

OPEN HOUSE, SUNDAY AUGUST 12, 12PM-2PM. 847 NW 56th St in Ballard.

Many options: Rent or Rent-to-Own! Come see for yourself!

Heart of Ballard location and a fabulous street. Pretty living room with oak hardwoods and gas fireplace. 1926 charmer with 3 bedrooms up, one on the main plus a recent south facing, sunroom addition. Handicap-accessible, walk-in bathtub on the main floor. Great spaces waiting for some creative touches.

Plenty of storage and a workbench in the basement. One car garage and alley access. Off street parking for at least 2 additional cars.

For Rent:
Tenants will be renting the upstairs rooms ONLY. Tenant-buyers who sign a lease with the option to purchase may occupy the entire house.

Lower level includes a 1 bed-1 bath mother-in-law unit, which will be occupied by the on-site property manager and his wife, if the property is used as a rental. Property Manager will be making improvements to the property over the rental term.

Available Sept. 1. More photos available at http://BallardRenttoOwn.shutterfly.com

Also available as a lease purchase. For details please contact Wendy Ceccherelli at HomeLandInvestment@gmail.com

Ballard Rent to Own Investment!

Lease Purchase Available! Heart of Ballard location and a fabulous street. Pretty living room with oak hardwoods and wood burning fireplace. 1926 charmer with 3 bedrooms up, one on the main plus a recent south facing, sunroom addition. Great spaces waiting for some creative touches. Lower level includes a 1 bed-1 bath mother-in-law unit. Rent out the upstairs and live downstairs, or vice versa! Plenty of storage and a workbench in the basement. One car garage and alley access. Off street parking for at least 2 additional cars. Available Sept. 1.

No bank qualifying! Up to four years to purchase with a long-term lease! Lock in your purchase price now, while you build equity making improvements! $2500/mo w/$30K down to lease-option Or just rent the 4BR upstairs on a straight lease for $2500/mo. Reply by email to HomeLandInvestment@gmail.com for details or showings.

More photos at http://BallardRentToOwn.shutterfly.com

The Benefits Of Home Improvement Projects

There are many reasons to consider a Home Improvement project instead of selling your house and buying another. A home improvement project can be a fantastic way to save money or just to personalize your home to suit you better. In today's economy, the ability to accomplish improvements, both small and large to your home, can be a great asset. If you are a handy person, this will be even easier for you. However, a novice can complete most projects.

What Kind of Projects Should You Attempt?

If the reason for your home improvement project is to increase the value of your home, the best places to start are in the kitchen and bathroom. These are two places that both prospective homebuyers and current homeowners tend to concentrate on. Luckily, for you, both of these rooms are relatively simple and while they can be expensive, they do necessarily need to be. Something as simple as resurfacing a countertop or changing a faucet in the kitchen or putting in a new sink or mirror in the bathroom can make an amazing change in almost no time at all.

Learning to Do Home Improvements

If you are a novice handyman, it’s easy enough to gain the skills needed to do the already mentioned improvements. A library is a great place to start your learning, there are some fantastic home improvement books with simple step-by-step directions and pictures to guide you every step of the way. Another way to learn what you need to know is to consult video sites online. There are experts and novices alike that can show and tell you all that is needed for just about any project that you want to complete. It is important to note, however, that it is a wise idea to watch several videos by several different people to get a good feel for whose example to follow.

Where to Buy Supplies

Now that you have decided on the perfect home improvement project and have researched just how to get it accomplished, it’s time to buy all of the needed supplies. This may present another issue. Where to buy the supplies? If you live in a town large enough, you can go to a large home improvement store for one stop shopping. However, in a small town, you may have to resort to a department store. They will generally have what you need, even if they don’t have as good of a selection. Sometimes it’s possible to find a discount store that specializes in scratch and dent product at a savings, allowing you to do more with your money.