Steps To A Successful Closing

As real estate professionals, we handle pricing, marketing, and negotiating. Once the purchase and sale agreements have been signed, there are several steps to take to get the transaction closed:

Step 1 - Removing contingencies: The most common contingencies are financing and the sale of the buyer's current home. These conditions must be removed or waived before the sale can close.

Step 2 - Appraising the property: The buyer's lender requires a formal appraisal to confirm the value of the home, to be used as collateral to secure the loan.

Step 3 - Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds, and so on.

Step 4 - Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close.

Step 6 - Recording the deed and disbursing funds.

Step 7 - Receiving the proceeds and welcoming the moving van.

Step 8 - Turning over the keys to the buyer.

There are many opportunities for surprises or delays in a transaction. Part of The Davidson Team's expertise is in troubleshooting problems that arise in the closing process and communication. Please email or call us if you have any questions or you would like more information.

Visually Create More Space

Buyers want the most house their money can buy. A large house with a choppy floor plan and small rooms can feel less spacious than a smaller home with an open floor plan.

Here are some things to do to visually create more space:

* Position mirrors in the right places to make a room appear larger. Make sure the mirrors reflect what you want to see more of, such as a favorite painting or a lovely window.

* Choose a light color scheme to help open up a room. White, cream, pearl gray, or soft yellow seem more inviting and open because they reflect light.

* Clear out the clutter. Keep decorative objects to a minimum. Porcelain figurines are distracting and can be easily broken. Pick up newspapers and magazines. Put away--or pack away--unnecessary items from countertops in the kitchen and baths. Clutter can make rooms seem smaller than they are.

* Minimize the amount of furniture you have in each room. Either sell it or store it away.
A clean, well-maintained, and spacious home is not only more marketable, but can often command a higher price.

Please don't hesitate to call or email The Davidson if we can help you further get your home ready for market.

Effective Pricing Leads To A Sold Sign On Your Property

According to a recent report from the National Association of Realtors, almost 80% of homebuyers surf the Web to begin their home search. That means home buyers are well aware of what properties are available on the market and the prices they are selling for. Therefore, now more than ever, pricing is the key to selling your home.

Some sellers think that a higher price will give them some negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.

This can lead to the property's becoming "shop-worn." Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they wonder if there is something wrong with it. The sellers then have to drop the price, taking less than they might have if they had priced it correctly to begin with.

Homes that are well-priced attract the buyers in their price range. The buyer's perception is that the home is a good buy, and then the seller is positioned to receive the listing price or close to it.

Please feel free to call The Davidson Team if you have any pricing or general real estate questions. We would be happy to provide you with a free market evaluation on your home to ensure it is competitively priced in the marketplace so you will receive the best offer.

Maximizing Emotional Appeal

When you are ready to sell, you'll want to maximize the emotional appeal of your home. People who are enchanted with your home upon walking in the door are more likely to buy, and at a fair price.

Here are some tips to enhance the emotional appeal of your home:

* Turn on the lights to create a warm glow and remove the shadows.

* Make sure the windows are clean, and open the curtains or blinds.

* Keep the kitchen and baths clean and sparkling. Don't leave dishes in the sink.

* Remove all clutter, make the beds, and pick up toys.

* Pack away items that may detract from a buyer's ability to mentally move into your home such as family pictures or teen posters

.* Make the closets look bigger by packing up the clothes you are not using.

* Create a relaxing atmosphere with soft music.

* Make people feel at home with homey scents such as freshly baked cookies or bread or good potpourri.

* Check for pet odors and keep pets safely out of the way when your house is being shown.

* Clean out your basement and garage and neatly stack boxes you have stored there.

* Add charm and appeal with fresh flowers and plants.

Set the stage to show your home to its best advantage. Please don't hesitate to contact The Davidson Team if you have any questions, or would like some professional tips on preparing your home for sale.

Getting Top Dollar

Buyers want the most house their money can buy. A large house with a choppy floor plan and small rooms can feel less spacious than a smaller home with an open floor plan. A clean, well-maintained, and spacious home is not only more marketable, but can often command a higher price.

Here are some things to visually create more space:

* Position mirrors in the right places to make a room appear larger. Make sure the mirrors reflect what you want to see more of, such as a favorite painting or a lovely window.

* Choose a light color scheme to help open up a room. White, cream, pearl gray, or soft yellow seem more inviting and open because they reflect light.

* Clear out the clutter. Keep decorative objects to a minimum. Porcelain figurines are distracting and can be easily broken. Pick up newspapers and magazines. Put away--or pack away--unnecessary items from countertops in the kitchen and baths. Clutter can make rooms seem smaller than they are.

* Minimize the amount of furniture you have in each room. Either sell it or store it away.

Part of The Davidson Team's expertise is in helping homeowners get their home ready for the market. We'd be happy to stop by and share some thoughts with you on how you can stage your home to obtain top dollar.

Home Improvements That Yield A Return

In 2006, consumers spent $103 billion on home improvements. Several studies have been done about which home improvements provide the best return:

* Remodeling the kitchen and/or baths is one of the best ways to add value.

* On average, homeowners recoup 88% of the cost of remodeling the kitchen and 82% of remodeling the bath.* Adding a room or garage is an expensive improvement that can pay off if it is carefully designed. * Decks and patios can add value, depending on the part of the country.

* Landscaping often adds appeal, but not necessarily value.

Remember, home improvements usually take longer and can cost more money than you anticipate. Please feel free to contact us if we can help you. We would be happy to come by and discuss any improvements you are considering.

If you know of anyone who is considering home improvements and would benefit from free, helpful advice and suggestions, we would love to help. Just forward their name and phone number and we'll follow up with them promptly and provide them with the same quality service you have come to expect from The Davidson Team.

Are You Thinking About Selling? Not All Realtors and Marketing Plans Are the Same!

Custom Marketing Plan

Each property and owners requires a marketing plan tailored to its individual needs and advantages. The Davidson Team will:

* Research property prices in the area and provide a current Competitive Market Analysis (CMA) to determine the best price to help your property sell as quickly as possible.

* Tour your property and complete a Property Walk-Through Marketing Worksheet. Additionally, you will be encouraged to fill out a What Would You Like A Future Buyer To Know Worksheet. The goal of these worksheets is to gather detailed information to make The Davidson Team knowledgeable when putting together your Custom Marketing Plan.

* Notify all the agents in your market area of your property listing.

* Place a lockbox on your door for security.
Place a "For Sale" sign in your front yard, complete with a flyer box and property profile flyer.

* Conduct a multi-channel marketing campaign:

- Web Marketing: Because 79% of buyers start their property search online (National Association of Realtors 2005 Profile of Home Buyers & Sellers), your listing will appear on at least 10 places on the Internet! This aggressive online approach will greatly differentiate you from your competition and bring your property exposure to millions of home buyers every month!

- Utilize digital photos and online virtual tours.

- Consistently email your listing information to local real estate agents and The Davidson Team's entire database of past clients, buyers and sellers.

- Conduct print and direct mail advertising.

- Help you stage your property and hold open houses.

* Price your home to sell for the best possible price, in the shortest amount of time, with the least amount of stress for you.

* Provide technical expertise, explaining issues such as agency and property disclosures and review legal forms.

* Review purchase offers in detail with you, diligently negotiate on your behalf, advise through the closing process, and assist in handling all details on the transaction.

* Keep in touch! The Davidson Team will stay in regular contact through the entire process. And much more!

In the end, it's all about results. The Davidson Team will turn FOR SALE into SOLD!

To learn how the Davidson Team will specifically create your Custom Marketing Plan, contact them today to schedule a listing presentation.

The Davidson Team - Blaine & Erin Davidson - Windermere/NCW
509-293-2214 - http://www.wenatcheehouses.com/ - info@wenatcheehouses.com

Why Is Wenatchee's Market So Hot? Part 3: The Big Business Opportunity

In part 3 of Why Is Wenatchee's Market So Hot?, I'll share two articles that give insight into why a handful of multi-billion dollar technology companies have selected Wenatchee and North Central Washington as the next hot areas for growth. Yahoo, Google, Microsoft, Intuit, Sabey Corp ring a bell!

These are of course in addition to the Walmart's, Macy's, Starbuck's (on every corner), Costco, and many other blue chip retail businesses who scoped out the Wenatchee and surrounding areas a few years back, and are now their niche's respective leaders thanks to their research and due dilligence before the news about these emerging markets got out. I guess the multi-million dollar budgets these companies allocate toward demographic research really does pay off!

San Antonio Express News (January 20, 2007 - http://www.mysanantonio.com/business/stories/MYSA012007.01D.Data_Cluster.13cd88f.html) regarding Microsoft's (and other large technology companies) recent move to Quincy, WA (just 20-30 minutes from Wenatchee).

Wenatchee World (January 7, 2007 - http://www.wenworld.com/sub/story.php?id=1168111650-158-491) regarding Sabey Corp's $100 million dollar data center in East Wenatchee.

Can you say jobs, growth, new housing, growth, new homes, growth, huge investment opportunity, growth!?!?!?!

Why Is Wenatchee's Market So Hot? Part 2: Recreation & Tourism

In part 2 of Why Is Wenatchee's Market So Hot?, we'll look at North Central Washington's recreation and tourism. Quality of lifestyle is obviously a major contributing factor in where one wants to live. In the Wenatchee Valley's case, there's an abundance...which certainly playing a pivotal role in Wenatchee's emerging growth real estate market and economy.

Sun, sun sun! To have outstanding recreation and tourism there must be wonderful weather. The Wenatchee Valley is famous for having on average over 300 days of sun per year. Being a Seattle native--where the words wet and gloomy originated--I personally have never lived in a more beautiful place.

Water is everywhere...lakes, rivers, creeks! Here's just a few of the many amazing recreation and tourism venues on the water, providing host to such activities as boating, fishing, water skiing and wake boarding, jet skiing, skiing, snowmobiling, swimming, parks, camping, resort accommodations, a casino, rafting, golfing, tennis, biking, wineries, and music/arts:

* Lake Chelan: http://www.cometothelake.com/, http://www.lakechelan.com/

* Lake Wenatchee: http://www.parks.wa.gov/parkpage.asp?pageno=1&selectedpark=Lake+Wenatchee

* Wenatchee River: http://www.donadamsphoto.com/Wenatchee_River.JPG, http://www.riverrecreation.com/photos/wenatchee_IMG_2534.jpg, http://www.ecy.wa.gov/programs/wq/images/wenatchee_multi/epsn0014.jpg

* Crescent Bar: http://www.crescentbarresort.com/

* Dams: Because the city of Wenatchee owns two damns, Wenatchee boasts the cheapest electricity/energy in the country.

The Wenatchee Valley boasts a number of excellent golf courses and resorts for every skill level and preference:

* Desert Canyon Golf Resort: http://www.desertcanyon.com/ (Orondo, WA - 20 min from Wenatchee)

* Bear Mountain Ranch: http://www.bearmt.com/golf_course.html (Lake Chelan, WA - 30 min from Wenatchee)

* Wenatchee Golf & County Club: https://www.memberstatements.com/login/login.cfm?CFID=4557543&CFTOKEN=32549575 (Wenatchee, WA)

For those who love to snow ski and snowboard, there is no other location in Washington that boasts the convenience and options as Wenatchee.

* Mission Ridge: http://www.missionridge.com/

* Stevens Pass: http://www.stevenspass.com/

* Snoqualmie Pass: http://www.summitatsnoqualmie.com/winter/index.asp

A very unique city just 25 minutes outside Wenatchee is Leavenworth. This beautiful tourist hot spot is set at the bottom of Steven's Pass in a Bavarian village setting: http://www.leavenworth.org/.

Because of the Wenatchee Valley's fertile land and strong agricultural roots, over the last 10 years there has been an emergence of several local wineries in the area: http://www.gotastewine.com/wenatchee-wineries.php, http://www.winecountry.com/regions/washington/index.html.

I've really just scratched the surface in regards to recreation and tourism, but as you can see, there is no lack of things to do in North Central Washington. Click here http://www.wenatcheehouses.com/ for additional Wenatchee area and real estate resources.

Why Is Wenatchee's Market So Hot? Part 1: Waterfront Sub-Area Plan

If you're a North Central Washington resident you no doubt know about the considerable increase in home prices over the last few years. You've also likely heard about how Wenatchee was #5 nationwide for 2006 (http://www.wenworld.com/sub/story.php?id=1165087223-886-270) and how the 2007 market forecast is projected at 16.7% (http://money.cnn.com/magazines/moneymag/moneymag_realestate/snapshots/359.html) ...with areas like East Wenatchee, Cashmere, Leavenworth and others not far behind.

BUT WHY?

Over the next several days we'll look at some the factors behind this emerging growth real estate market and economy. Today, I'll let the City of Wenatchee do the talking.

Click the link below to view the Wenatchee Waterfront Sub-Area Plan Economic Analysis Component:
http://www.cityofwenatchee.com/acrofiles/Economic%20Analysis%20Component%20Final%20Report%20081203.pdf

You'll gain a high level and granular look into the many driving factors that are fueling the Wenatchee Valley real estate market and economy...AND MOST IMPORTANTLY why this is just the start of a very special time in Wenatchee, and ultimately North Central Washington.

The Home Sale: Securing the Deal

Ready to close the deal? Maybe not.

Sometimes unforeseeable issues arise just prior to closing the sale. Hopefully, with negotiation, most of these have a workable solution. Unfortunately, this is not always the case. But don't panic. Another buyer might still be found who is willing to accept the house as is.

Imagine that your prospective buyers are a couple with young children. They envision your unused attic as the perfect playroom for the kids but, before closing the deal, they request an inspection to see if it's safe and also if they will be able to install a skylight to provide natural light to the new space.

This inspection reveals that under the shingles that are in good condition is a roof that will only last another year or two. The prospective buyers immediately balk, not wanting to incur the time and cost of replacing the roof. Their plans were to move in and only have to spend time and money renovating the attic. The additional cost of the new roof, they say, is just too much.

At this point, you sit down with the prospective buyers and calmly discuss the situation and how it can be solved to the benefit of all. First, you agree to get another professional opinion on what really needs to be done. Inspectors are only human, and are not infallible. Once the extent of the damage is agreed upon, you can jointly decide what to do about it. While the buyers hadn't planned on that expense, you show them that instead of a limited roof life that they would get with most existing homes, they'll have a new worry-free roof that won't cost them in repairs for the next decade or so. Since the roof wasn't in as good shape as you had thought, you agree to lower the purchase price to help offset the cost of the new roof.

By negotiating calmly and looking at all possibilities, what could have been a "deal breaker" can be turned into a win-win situation for both the buying and selling parties. In other cases, the most workable agreement for both parties might be for the deal to be called off. The seller can always find another buyer and the buyer can always find another home.

To protect yourself against last minute "buyer's remorse," make sure the purchase contract anticipates and closes as many loopholes as possible after all known defects have been fully disclosed.

Click here http://www.wenatcheehouses.com/buyersandsellers.php for additional helpful buyer and seller articles.

Getting the Best Mortgage Rates Online

Naturally, you want to get the best deal for the least amount of money. This holds true for mortgage rates as well.A lower interest rate means a lower monthly mortgage payment, which can save you money in the long run. Also, it is easier to qualify for a lower payment than a higher one.You basically have two routes to finding the best rate. The first is to do all the research on your own. The second is to use a mortgage broker.

Do-It-YourselfWith the advent of the Internet, much of this information is readily available online. Once you have educated yourself sufficiently about real estate loans, all it takes is the time and energy to sift through online resources to find the information you need.

Rates change quickly. That great rate you find today might not be there tomorrow. Once you find the rate you are looking for, submit a loan application and lock in that rate.

Some sources for interest rates on the Internet include:

Bank Rate Monitor (http://www.bankrate.com)
E-Loan (http://www.eloan.com)

When comparing loans, make sure that you're comparing loans of the same type. For example, you find that "Loan A" for a 30-year loan has a much lower interest rate than "Loan B" (also for 30 years). Upon further inspection, you find that "Loan A" is technically an adjustable rate mortgage. Its payment is based on a 30-year amortization, but becomes due through either payment or refinancing at the end of 5 or 7 years. These are frequently referred to as a 5-year or 7-year fixed-rate mortgage. While both said "30-year", they are not the same type of loan.

Ask the lender for a statement detailing all fees associated with the loan. Factors such as "points" (loan fee), interest rate and "garbage fees" (extra fees which some lenders charge) can vary greatly from one lender to another. Mortgage BrokerIf you do not have the time or experience to "do it yourself," look for a qualified mortgage broker that can assist in finding the right mortgage for you. Ask friends and associates who have refinanced or purchased recently if they have a broker they can recommend. You'll want to find a broker who is energetic, flexible and knowledgeable about finance and loans and someone who has your best interests in mind. We are more than happy to suggest a good mortgage broker.

Click here http://www.wenatcheehouses.com/buyersandsellers.php for more buyer and seller articles.

Surviving Escrows

You've Opened Escrow, Now What?
Congratulations, you are on your way to owning your very own home! Follow these suggestions (and your realtor's advice) so that escrow and settlement with go as smooth as possible.

You will be asked for a down payment on the home you are purchasing. You can choose to put down as much or as little as you want (depending on your mortgage), but remember, the more you put down toward the total price of your home, the less time it will take you to pay off and the less your mortgage payments will be every month.

During this period of purchasing your home, you are going to need an escrow or settlement company to act as an independent third party so that you know when and who to give your money to get the deed to your new home. The escrow or settlement company will hold your deposit and coordinate much of the activity that goes on during the escrow period. This deposit check may also be held by an attorney or in the broker's trust account. Make sure that there are sufficient funds in your account to cover this check.

The deposit check will be cashed. Assuming the sale goes through, this money will be applied to the purchase price of the home. If for any reason the sale is not consummated, you may be entitled to receive all of your deposit back, less standard cancellation fees. In certain instances, the seller may be able to retain this money as liquidated damages. Prior to executing a purchase contract, it would be wise to speak with your counsel regarding whether or not it is your best interest to have a liquidated damages clause as part of the contract.
The period that you are "in escrow" is often 30 days, but may be longer or shorter. During this time, each item specified in the contract must be completed satisfactorily. By the time you have opened escrow, you have come to an agreement with the seller on the closing date and the contingencies. Each contract is different, but most include the following: 1. Inspection contingency: this should be completed as soon as possible after the contract to purchase is signed as unsatisfactory results of the inspection may mean that you will want to cancel the contract.
Financing contingency: once the contract is signed, you have a period of time to secure funding. If, for any reason, you are unable to secure funding during the period of time granted to you by the contract (and the seller will not provide a written extension of time), you must decide whether you want to remove the contingency and take your chances on getting a loan. You may choose to cancel the purchase contract.

A requirement that the seller must provide marketable title.

With an attorney or title officer, review the title report. The title must be "clear" to ensure that you do not have legal issues regarding your ownership.

Check into local and state ordinances regarding property transfer and make sure that you and/or the seller have complied with them.
Secure homeowner's insurance. This will probably be required before you can close the sale. Due to such requirements as special fire and earthquake insurance, obtaining this insurance may require a lengthy period of time. It would be in your best interest to apply for insurance as soon as possible after the contract is signed.

Contact local utility companies to schedule to have service turned on when you close escrow.
Schedule the final walk-through inspection. At this time, you should make sure that the property is exactly as the contract says it should be. What you thought to be a "permanently attached" chandelier that would come with the property might have been removed by the seller and replaced with a different fixture entirely.

You've made it! Once the sale has closed, you're the proud owner of a new home. Congratulations!

Click here http://www.wenatcheehouses.com/buyersandsellers.php for additional helpful buyer and seller articles.

What is a CMA and Why Do You Need One?

CMAis real estate shorthand for "Comparative Market Analysis." A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.

The first thing an agent will need to do to provide you with a CMA is to inspect your property. Generally, this inspection won't be overly detailed (she or he is not going to crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the agent at this time.

The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.

The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.

are not onlyCMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it's used to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Click here http://www.wenatcheehouses.com/home_worth.php if you would like a free CMA and here http://www.wenatcheehouses.com/buyersandsellers.php for other helpful seller and buyer information.

CNNMoney.com: 2007 Forcast For Wenatchee

CNNMoney.com published the following market forcast for Wenatchee (June 2006-2007), using data from Fiserv CSW and Moody's Economy.com:

http://money.cnn.com/magazines/moneymag/moneymag_realestate/snapshots/359.html

Yet again we were delighted to see validation for another strong year in Wenatchee, with a market forcast of 16.7%! Not only was Wenatchee Washington's hottest real estate market for 2006, but also #5 nationwide (http://www.wenworld.com/sub/story.php?id=1165087223-886-270). As much of the nation is realizing a trend toward normalization, Wenatchee looks to provide a huge opportunity for Wenatchee are home buyers and sellers...and let's not forget about real estate investors in other parts of Washington and from other states all together.

In fact, because of The Davidson Team's growing Web presence at http://www.wenatcheehouses.com/ and aggressive online marketing and communication strategy, we're talking more and more with investors--many of which are Realtors--from other parts of the country who want to learn more about the Wenatchee area and capitalize on a considerable investment opportunity; while their other real estate investments are increasing slightly or holding steady.

Here's some helpful information about Wenatchee and some of the surrounding communities:

* Wenatchee: http://www.wenatcheehouses.com/wenatchee.php

* East Wenatchee: http://www.wenatcheehouses.com/east_wenatchee.php

* Leavenworth: http://www.wenatcheehouses.com/leavenworth.php

* Cashmere: http://www.wenatcheehouses.com/cashmere.php

* Quincy: http://www.wenatcheehouses.com/quincy.php

Click here http://www.wenatcheehouses.com/communities.php or a complete list of all North Central Washington communities.

Seller Resource Articles

When selling your home, there are no guarantees that a buyer will simply walk through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer.

The appearance of your home, a buyer's first impression, and other considerations can also affect the sale of your home. Have you considered that home prices in your neighborhood and the value of your property are also factors used for pricing your home?

Below are some articles that you might find useful in the home selling process. Please feel free to click on one the links to read more.

* Risks of Remodeling Without a Permit

http://www.wenatcheehouses.com/articles/selling/risks_remodling.php

* Selling Your Own Home

http://www.wenatcheehouses.com/articles/selling/selling_own.php

* Traversing the Pitfalls of Home Inspections

http://www.wenatcheehouses.com/articles/selling/pitfalls_inspection.php

Visit http://www.wenatcheehouses.com/buyersandsellers.php for more seller articles and a host of buyer articles.

Buyer Resource Articles

Buying your new home is a serious venture. It can be an absolute pleasure or a massive headache. Your house is not just your home, it is a serious investment in the dwelling, the area and your future.

When buying a home - you're bound to have many questions. For example, "In what area can I find a home that suits my needs?", "How much money will I need to afford the monthly payments?" and "How long will the home buying process take?"

Below are some articles that you might find useful in the home buying process. Please feel free to click on one of the links below to read more.

* Advice for First-Time Buyers

http://www.wenatcheehouses.com/articles/buying/advice_for_first.php

* How to Negotiate with Sellers

http://www.wenatcheehouses.com/articles/buying/negotiate_sellers.php

* Types of Mortgages

http://www.wenatcheehouses.com/articles/buying/types_mortgage.php

Visit http://www.wenatcheehouses.com/buyersandsellers.php for additional buyer articles and a host of seller articles.