Do you plan on living in a house for the next 5 years or so?  While interest rates are very low, closing costs aren’t.  It may only make sense to buy if you plan on staying in the home for 5-7 years.  If you want to sell after 2 or 3 years, you could take a loss.

Are you credit-worthy?  When’s the last  time you checked your credit? Buyers sometimes underestimate the value of paying their bills on time, all the time!  Don’t let that happen to you.  If you’re have trouble, contact a reliable credit counseling agency and get back on track.

Looking for a permanent residence?  Tired of renting?  Ask your lender how much house you can afford.  Divide that by the yearly rent you would pay for a comparable house.  If the number is below 15, you might want to start thinking seriously about that purchase!

There are a number of loans available right now.  If you’re a veteran, you can still buy a home with zero down.  FHA and Rural Development loans are still available.

Don’t forget that the Homebuyer Credit is available, but only until April 30.  We may not see this sort of stimulus again so don’t miss out.  Remember, you don’t have to be a first time home buyer to qualify.  Call me!

And, if you’re thinking of a vacation place, there are some great deals out there.  Compare some of these affordable places to what you’d pay in motel rooms, eating out, etc and see if having your own place at the beach, with the added benefit of investing in real estate, and you might want to jump in now.  Summer is coming!

Condo in Seaview, just $79,000!

Private yet close to town!

Turn-key cabin in Ocean Park!

Surfside 3 bedroom!

Seaview Classic on large lot!

And there are lots more out there.  Be sure to check our interactive map on the bottom half of our website!

Is it time to buy? is a post from: discoverycoastrealestate.com

The weather has certainly taken a turn for the “winter”.  Temperatures below freezing are expected to continue this week.  A rumor of snow has been floating around but so far it’s just cold, sunny & bright!

I hope everyone enjoyed Thanksgiving.  Charlie was recovering from a nasty cold so we were quarantined for the day.

This report is a bit different than what I normally send but I’m trying to keep everyone up-to-date on what the market is doing not only here in Pacific County, but in other areas covered by the Northwest Multiple Listing Service.

KIRKLAND, Wash. (Dec. 3, 2009) – Home sales continued to outperform year-ago totals and prices continued to show signs of stabilizing, according to the latest report from Northwest Multiple Listing Service. Brokers credit move-up buyers as one factor for the positive activity.  “This winter will not be ‘business as usual’ for the housing market,” proclaimed the CEO of one brokerage while expressing optimism for 2010.

Pending sales for November tapered off from October’s surge during the rush to beat a looming tax credit deadline, but compared to November 2008, home sales jumped more than 31 percent. Members notched 4,888 pending sales (mutual acceptance of an offer) last month, which compares to 3,727 pendings for the same period a year ago.

Closed sales of single family homes and condominiums (combined) for November outgained year-ago totals by an impressive 76 percent, rising from 2,937 completed transactions to 5,168 closings across the NWMLS service area. Last month’s total number of closings (5,168) exceeded the number of pending sales (4,888), a ratio that had not occurred since October 2008.  The median sales price area-wide was down about 7 percent from a year ago, the lowest percentage decline all year. Prices had been off every month this year by double digits until June (down 9.5 percent) and August (down about 8.8 percent), but for past three months the decline has been under 7.5 percent.

(Last month, Congress passed new legislation that extends the first-time home buyer tax credit of up to $8,000 to buyers who purchase by April 30, 2010. The legislation also authorized a tax credit of up to $6,500 for qualified repeat home buyers.)

Holidays can be favorable time to buy, sell

Although seasonal slowdowns are typical for housing activity, industry experts say now can be a good time for both sellers and buyers. Buyers tend to encounter less competition for the most desirable homes. Also, qualified buyers can expect above-normal attention from service providers who are experiencing a slowdown in their business, including lenders, home inspectors, appraisers and title companies. Lenders may even be willing to extend very favorable mortgage terms or forgo some fees as they vie for business.

Locally, there were 18 home sales and 8 vacant land sales in November.  Interestingly, of the total sales recorded, 11 of those were listed by real estate companies.  I’m happy to say that of the home sales in November, Discovery Coast Real Estate ranked #4 out of 10!

Home sales ranged in price from $38,500 to $333,000 and land sales were $14,108 to $71,200.

November Sales Report is a post from: discoverycoastrealestate.com

28500-Z-St

This secluded cutie needs some TLC but the roof was new in 2004.  3 bedrooms, 3 baths, 1504 square feet.  Property is just over one acre.  Great room has vaulted ceilings and a propane stove.  Laminate floors, wood-burning fireplace and a great hot-tub room which would also make a good plant room.  Attached oversized 2 car garage plus a bunk house complete the picture of this Ocean Park cutie!  A good place to use your first time homebuyer credit…  Click on the photo above for more info!

Price Reduction! is a post from: discoverycoastrealestate.com