President Obama has signed a bill that extends the tax credit for first-time. The current program had been scheduled to expire on November 30, 2009. In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

The extension measure also offers opportunities for some who are not buying a home for the first time.

The $8000 tax credit program that has existed for first time homebuyers remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.

Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Higher Income Caps are now in effect. The amount of income someone can earn and qualify for the full amount of the credit has been increased.

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,0 and above are ineligible.

Qualifying buyers may purchase a property with a maximum sales price of $800,000.

What is the tax credit for first-time homebuyers? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.

Who is eligible for the first time homebuyer tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.

Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.

-You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
-You do not use the home as your principal residence.
-You sell your home before the end of the year.
-You are a nonresident alien.
-You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
-Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
-You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.

If you have any questions related to the first time homebuyer credit that we did not cover here, please speak with your accountant. We are real estate agents and cannot give you tax advice. If you need a referral to an accountant/CPA, please contact us, we can refer one to you.

Kerstin G. Brooks
Brooks & Heinze Team
Cell: 206.276.5827
Send us an email

I received some feedback and questions about one of our July blog entries regarding signs of a recovery in the housing market. The entry was entitled: Housing Market is Showing Signs of Recovery. Some of my clients wanted to know if this meant they will stop "losing money" and that their property prices would go back to what they were.



There has been a lot of talk about a housing recovery. We, the Brooks and Heinze Team, have also reported on promising developments such as more sales in recent months, and multiple offers in some neighborhoods and other promising news.



After a long time of little or no movement in the market, this development certainly was worthwhile reporting and very encouraging. Some of the 'flurry' can be attributed to lower interest rates, greater affordability and the first time homebuyer tax credit.



However, for a sound recovery to take place which will stabilize prices and offer some growth in the future, the economy has to improve and good jobs need to be available. Real estate agents and economists know that the housing market cannot truly improve or recover unless the economy and with it the job market improve.



According to the Bureau of Labor Statistics, unemployment rates were higher in August than a year earlier in all 372 metropolitan areas, the U.S. Bureau of Labor Statistics reported today. Sixteen areas recorded jobless rates of at least 15.0 percent, while 9 areas registered rates below 5.0 percent. The national unemployment rate in August was 9.6 percent, not seasonally adjusted, up from 6.1 percent a year earlier. Among the 369 metropolitan areas for which nonfarm payroll employment data were available, 356 areas reported over-the-year decreases in payroll employment, 11 reported increases, and 2 had no change.



The economic downtown was created to a great extent by an insane housing bubble made possible by the availability of easy and cheap money or "bad loans". People who should not have qualified for a loan were able to buy homes and other people who should have been able to buy a home were put into higher loans than they should have qualified for or were made loans that were structured in a way that made them unaffordable.



To make matters worse now, the number of good loans that are now going into default are surging as a result of the economy, not just poor loan underwriting. So, although the housing crisis may have help in the economic downturn, at this point the economic downturn is putting additional pressure back on the housing market due to job losses, and losses in property values; so even the once "good" loans are now going "bad".



This brings me back to why I wrote this article. I want to make sure that our clients understand that there is some good news about the housing market but I also want them to understand that only as the economy at large improves and more good jobs are created, will the market and prices stabilize; and then I will be able to report that there has been a true recovery of the housing market.

Kerstin G. Brooks
Brooks & Heinze Real Estate Team

Phone: 206.276.5827
Email: kerstinbrooks@earthlink.net
Web: http://www.propertyinseattle.com/

Why Buy a Business Opportunity? So you can have your own small business, without having to start one from scratch.

A lot of the risk in starting a business from scratch is encountered during the startup phase. No one knows your name, what you’re selling or where you are. So they are less likely to buy from you.

A business opportunity offers you the opportunity to reduce that vulnerability, and jump right to extending the reach of an already known enterprise.

With a business opportunity, you’re buying-in to an existing operating system and clientele.

Ever thought of owning and running your own coffee shop? The Brooks and Heinze Real Estate Team in Seattle, WA has a fantastic Coffee Shop Business Opportunity for Sale in Downtown Seattle. This is a fabulous coffee shop with a tremendous amount of pedestrian traffic in close proximity of many office buildings, waterfront and Ferry Terminal. Established, loyal clientele! Please contact us to learn more about this terrific opportunity.

Kerstin G. Brooks & Krisanne Heinze
Brooks & Heinze Team at Skyline Properties, Inc.
Phone: 206.920.2541
Email: info@propertyinseattle.com
Web: http://www.propertyinseattle.com/

Time is running out for first time home buyers to take advantage of the $8,000 tax credit.


We are in the month of August now, and time is slipping away to take advantage of the $8000 first time home buyer's tax credit.


There is a deadline looming for this opportunity. Your home purchase must be CLOSED by November 30, 2009 to qualify for the tax credit.


Most properties take up to a month or two months to close (longer for most short sales). A buyer should try to purchase a home before October 1, so that he/she can close before November 30th.

This means there are only a couple of months left to find a suitable property and get an accepted offer!


So, get "moving" first time home buyers.

There are a lot of great properties for sale here in Seattle, and interest rates are low! Don't delay, buy a house TODAY!


For questions regarding homeownership and the first-time homebuyer credit please contact The Brooks & Heinze Real Estate Team in Seattle.



Kerstin G. Brooks
Brooks & Heinze Team at Skyline Properties, Inc.
Phone: 206.276.5827
Email: info@propertyinseattle.com

After months and months of discouraging news in the real estate market, for the last couple of months the news has been better.


According to the National Association of Realtors, sales of previously occupied homes rose for the third month in a row in June. Home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month, from a downwardly revised pace of 4.72 million in May. Sales were up in all four regions of the country. For a detailed breakdown of existing home sales statistics by region, please click on the following link: Existing Home Sales by Region .


Unfortunately, there is still a backlog of foreclosures that have yet to come on the market. It will be interesting to see what their sale will do to home prices. Usually, foreclosure sales drive down market values but if the inventory of homes on the market is shrinking, a downward effect of prices may be avoided by an increased demand. Only time will tell. The good news, at least at the moment, the share of foreclosures on the market is shrinking!


The Brooks and Heinze Team of Seattle, WA expects a slow but continued upward trend in sales to first time homebuyers, at least until the end of November due to the first time home buyer tax credit incentives, great affordability and favorable interest rates. Certain neighborhoods like Ballard, Phinney, Wallingford, Fremont, and Queen Anne have seen very low inventory and some of the better homes have sold in multiple offers.


Kerstin G. Brooks
Brooks & Heinze Team
Phone: 206.276.5827
Email: info@propertyinseattle.com
Web: http://www.propertyinseattle.com/

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Have we seen the bottom yet in Seattle? Maybe, maybe not. It depends what neighborhoods and price ranges you are talking about.



The suburbs are still struggling and many properties that have sat on the market for a long time in these areas continue to sit. Condos are tough to sell, as well, largely because financing is tricky for some of those. And homes in higher price ranges (above $600k) are also not moving as quickly (some neighborhoods excluded).



So, where are things turning around? Downtown and north of downtown to about 85th St. has seen a change in momentum in the last couple of months. Particularly in Fremont, Wallingford, Roosevelt, Ravenna, Ballard, Queen Anne, Wedgwood, Greenlake and Bryant where single family homes in good condition are selling quickly and occasionally two or three buyers are competing for the same home. There is an increased demand in the under $600k range.



If you are looking to buy in these more popular neighborhoods, wait no more, I think we have seen the bottom (dare I say it).



Properties south of downtown and north of 85th are more affordable than ever and some great deals are to be had. Take advantage of a strong buyer's market, low interest rates and if you are a first-time homebuyer you most likely qualify for the $8000 tax credit (contact us for more information on who qualifies).



Pending sales are up even in these areas compared to a few months ago, some of which can be attributed to the time of the year (sales always go up in late spring/early summer) , some of it can be attributed to favorable terms for buyers such as low interest rates and the first-time homebuyer credit and I am hopeful it is actually a sign of a recovery.



The Seattle Metro area is one of the "10 Cities Most Likely to Bounce Back" according to Forbes Magazine. Forbes magazine has identified the top 10 cities that it believes are poised for recovery by examining unemployment figures, projected gross domestic product from Moody’s Economy.com, and housing affordability data from the National Association of Home Builders.



Here is Forbes’ top 10:


Austin-Roundrock, Texas
Fayetteville-Springdale-Rogers, Ark.
Boulder, Colo.
Huntsville, Ala.
San Antonio, Texas
Mobile, Ala.
Dallas-Fort Worth-Arlington, Texas
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va.
McAllen-Edinburg-Mission, Texas
Seattle-Tacoma-Bellevue, Wash.



Have a wonderful day,

Kerstin

Kerstin G. Brooks
Brooks & Heinze Team
Skyline Properties, Inc.
http://www.propertyinseattle.com/

The stimulus plan that President Obama has signed into law as part of the American Recovery and Reinvestment Act of 2009 contains an important tax credit for first-time home buyers: a tax credit of 10% of the purchase price, up to $8,000 for first-time home buyers only.

First-time buyers, for the purpose of this credit, are those who have not owned a home in three years. This new tax credit does not replace the 10% of purchase price, up to $7,500 tax credit passed as part of last year's Housing and Economic Recovery Act of 2008.

So, there are two breaks for first-time homeowners in the tax code now. Which credit you can take depends on when you purchased your home.

If you're a first-time home buyer and you purchased your home on or after April 8, 2008, and by Dec. 31, 2008, you may qualify for 10% of the purchase price, up to $7500 tax credit but you have to pay that back because it's not really a credit, it's more like a 15-year, interest-free loan from the IRS.

Visit the IRS website or consult your tax advisor for the details if you qualify for this credit (loan). The credit is 10 percent of the purchase of the home, with a maximum available credit of $7,500 for either a single taxpayer or a married couple filing a joint return; $3,750 for married persons filing separate returns.

The full credit is available for homes costing $75,000 or more. Only purchases of a main home located in the United States qualify, and the home must have been purchased after April 8, 2008, and before December 31, 2008. For a home you construct, the purchase date is the date you first occupy the home.

The up to $8,000 tax credit is available for qualifying home purchases made from Jan. 1, 2009, until Dec. 1, 2009 (yes, Dec. 1 not Dec. 31). At least the credit is a true credit and does not need to be repaid, that is, if you don't plan on moving within three years. The home must remain the buyer's "main home" for at least 36 months after the purchase date, which means no selling or renting the home. This won't work for an investment property. If the buyer sells or moves before 3 years have passed, they will need to pay back the credit.

There is also an income limitation and the credit starts phasing out if you have over $75,000 in gross adjusted income for single filers and up to $150,000 in adjusted gross income for joint (married) filers.

A tax credit is much more valuable than a deduction. A credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable.

Please click on the following links to see a side by side comparison of the two tax-credits, repayment requirements, recapture requirements, income limits to qualify, property eligibility, amount of credit, etc.

Tax Credit Chart (Source: National Association of Realtors)

http://www.irs.gov/newsroom/article/0,,id=204671,00.html (IRS.gov Website)

If you are still not sure which and if you qualify for the first-time homebuyer credit and if you qualify for the maximum amount of credit, contact the IRS or your tax advisor.

If you are a first-time homebuyer and still on the fence whether to buy this year or not, perhaps this new credit will get you to jump off the fence and dive into homeownership. When you combine the tax credit with historically low interest rates, a great selection of homes, desperate sellers and low home prices, shopping for a home gets exciting.

NOTE: This blog is not meant as tax advice. Please consult your tax advisor for details about your particular situation. We are real estate agents, not tax advisors.

Kerstin G. Brooks
Brooks & Heinze Team
"Where People Come First"
Skyline Properties, Inc.
http://www.propertyinseattle.com/
Email: info@propertyinseattle.com

The stimulus plan that President Obama has signed into law as part of the American Recovery and Reinvestment Act of 2009 contains an important tax credit for first-time home buyers: a tax credit of 10% of the purchase price, up to $8,000 for first-time home buyers only.

First-time buyers, for the purpose of this credit, are those who have not owned a home in three years. This new tax credit does not replace the 10% of purchase price, up to $7,500 tax credit passed as part of last year's Housing and Economic Recovery Act of 2008.

So, there are two breaks for first-time homeowners in the tax code now. Which credit you can take depends on when you purchased your home.

If you're a first-time home buyer and you purchased your home on or after April 8, 2008, and by Dec. 31, 2008, you may qualify for 10% of the purchase price, up to $7500 tax credit but you have to pay that back because it's not really a credit, it's more like a 15-year, interest-free loan from the IRS.

Visit the IRS website or consult your tax advisor for the details if you qualify for this credit (loan). The credit is 10 percent of the purchase of the home, with a maximum available credit of $7,500 for either a single taxpayer or a married couple filing a joint return; $3,750 for married persons filing separate returns.

The full credit is available for homes costing $75,000 or more. Only purchases of a main home located in the United States qualify, and the home must have been purchased after April 8, 2008, and before December 31, 2008. For a home you construct, the purchase date is the date you first occupy the home.

The up to $8,000 tax credit is available for qualifying home purchases made from Jan. 1, 2009, until Dec. 1, 2009 (yes, Dec. 1 not Dec. 31). At least the credit is a true credit and does not need to be repaid, that is, if you don't plan on moving within three years. The home must remain the buyer's "main home" for at least 36 months after the purchase date, which means no selling or renting the home. This won't work for an investment property. If the buyer sells or moves before 3 years have passed, they will need to pay back the credit.

There is also an income limitation and the credit starts phasing out if you have over $75,000 in gross adjusted income for single filers and up to $150,000 in adjusted gross income for joint (married) filers.

A tax credit is much more valuable than a deduction. A credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable.

Please click on the following links to see a side by side comparison of the two tax-credits, repayment requirements, recapture requirements, income limits to qualify, property eligibility, amount of credit, etc.

Tax Credit Chart (Source: National Association of Realtors)

http://www.irs.gov/newsroom/article/0,,id=204671,00.html (IRS.gov Website)

If you are still not sure which and if you qualify for the first-time homebuyer credit and if you qualify for the maximum amount of credit, contact the IRS or your tax advisor.

If you are a first-time homebuyer and still on the fence whether to buy this year or not, perhaps this new credit will get you to jump off the fence and dive into homeownership. When you combine the tax credit with historically low interest rates, a great selection of homes, desperate sellers and low home prices, shopping for a home gets exciting.

NOTE: This blog is not meant as tax advice. Please consult your tax advisor for details about your particular situation. We are real estate agents, not tax advisors.

Kerstin G. Brooks
Brooks & Heinze Team
"Where People Come First"
Skyline Properties, Inc.
http://www.propertyinseattle.com/
Email: info@propertyinseattle.com

I have put off writing this article for several weeks because I am genuinely devoted to give the best advice I can to my clients. Every buyer I am working with now and almost every buyer who has come through one of my open houses the last several months has asked me if now is the right time to buy and what I think will happen to home values.

There is a lot of information out there about low prices, low rates and tax credits and how people should take advantage of these things. So, let me answer the question of whether it is a good time to buy. Well, not so fast. I wish there was a clear cut answer that was right for everyone. Frankly, there is no blanket answer that applies to all. For many people, now is a fantastic time to buy. Let’s look at what you should consider before you decide if buying now is right for you.

Are prices still falling drastically in your market? Are there a ton of foreclosures in the neighborhoods you are looking to buy in?

If the answer is yes, maybe you should wait. A lot of new foreclosures being filed in an area usually signal that the worst is not over yet and it usually means that prices are going to continue dropping substantially. To find out foreclosure rates in your area, go to
http://www.realtytrac.com/foreclosure/foreclosure-rates.html . Certain parts of California and Nevada have been hard hit and there seems to be no end in sight to prices dropping and foreclosures being filed. If you are thinking about buying in one of these markets, you may want to wait. But talk to your local real estate professional to find out about the unique forces in your area.

Are you looking to “move up”?

“Moving up” means selling a less expensive home and buying a higher priced home. It is true that selling a home is more difficult now then it used to be and you will ‘take a hit’ on the sale. But don’t let that scare you. Just be smart about it. Don’t commit to a new home until you have sold your current home. Then, move to a nicer, bigger home at a terrific, discounted price.


Take a look at rates right now. Rates are almost unbelievably low right now.

Why are they so low? It’s one of the things our government has done to encourage homebuyers to enter the market and allow homeowners with adjustable mortgages to refinance at a lower rate. I don’t necessarily agree that this is the best tool or bail out strategy but that’s a topic for another blog entry.
If prices go down more, higher rates can affect your payment sufficiently as to wipe out any or all of that additional buying power. For more information about how a rise in rates can make buying a home less affordable please read my blog entry entitled http://brooksheinzerealestate.blogspot.com/2008/10/know-how-interest-rates-affect-your.html

More points to consider. Do you want to own a home?

Has it always been your dream to own a home? Do you have a stable job (like Health Care, certain government jobs, etc.), are you worried about inflation (you should be it’s a real thing), do you like to get free money from the government (you get a tax credit from the government when you buy a home now)? Well, then, maybe you should buy a home in 2009.
Obviously, if you are not comfortable with the security of your job, you may want to consider holding off on buying a home. On the other hand, you will have a housing expense whether you are renting or own so you may just want to make sure that you are not overextending yourself and buy a home you can truly afford.

Historically, real estate tends to rise along with prices in the overall economy and can thus provide an effective hedge against inflation. Of course, at the moment home values are dropping not rising. Have you noticed that many other goods are cheaper too now? Have you looked at gas prices, air line tickets, hotel rates, etc.? All are down – seems food is the only commodity that hasn’t dropped. The government is creating money out of thin air by printing more of it. Sooner or later that will result in inflation.

If you haven’t guessed it, I am not sure that some of the things the government is doing to ‘help’ us make a lot of sense, on the other hand, I would not talk a first-time homebuyer out of taking free money. If you plan on buying a home, take advantage of the tax credit the government is offering.

Appreciation is great and it is the one benefit that most homeowners understand. Now that we have depreciation in action, most homeowners forget that there are other advantages to owning a home. Remember that your home is your shelter, it is where you live, where you raise your children and where you create family memories. You have to live somewhere, right? Why not in your home where you can do as you please? Rather than an apartment where someone else dictates the rules. Payments on your home (unless you have one of those dreaded adjustable rate mortgages) are generally fixed. Rents can go up.

Don’t forget about the tax advantages of owning a home – mortgage interest is deductible and reduces your taxable income. I am not a tax advisor, so check with your CPA how your situation is affected by this.

To get back to my initial reason for writing this entry: Should you buy a home now?

Depending on your situation and your goals, now is a great time to buy a home. Whatever happens with the economy, you need to live somewhere and an affordable place is always a good thing.

Work with a real estate agent who truly understands his/her market and cares about you. Work with a mortgage professional who explains all the costs involved in financing a home and who will go over your budget in detail. Buy a home that is affordable to you, don’t overextend yourself. Plan to stay put for a while and enjoy the home you bought for many years to come.

For more information, please contact the Brooks & Heinze Team in Seattle, WA or attend one of their free homebuyer workshops - http://www.propertyinseattle.com/buyerworkshop.htm

Kerstin G. Brooks
Brooks & Heinze Team
“Where People Come First”
Web: www.propertyinseattle.com
Email: info@propertyinseattle.com

If you're thinking of moving up in a down real estate market it can make a lot of sense to sell rather than wait. There is never a better time to make a move up in real estate than when the market as a whole is down. Yes, you will probably not come out as well with the sale of your current home, but you will more than make up for it when it comes to buying your new home.

Let's look at an example:

- Assume you own a $300,000 house and you're ready for a $500,000 house. If the market is down 5% then unfortunately your current house is really only worth about $285,000 .

- Assuming that $500,000 house is also down 5%, then you're buying that house for $475,000! You accept a $15,000 loss when you sell, but you make $25,000 when you buy!

But it gets better, every market has a "hot price range" and a "cooler price range" - or put differently, some price ranges are selling better than others.

If you are selling in a "hot price range" (in Seattle that is single family homes under $350k) and are buying in the "cooler" price ranges / higher price range (in Seattle that's $500k+) you can take advantage of a great deal and moving up in this down market can work well for you.

If you are ready to take advantage of this down market to move up and get a great deal, contact us today.

Kerstin G. Brooks, ABR, Realtor
Brooks & Heinze Team at Remax Northwest
www.propertyinseattle.com

So, how do you sell a house in this market where nothing seems to sell?

Well, first you should decide if you really need or want to sell:

If you need to sell because of a relocation, financial hardship, divorce, death in the family, etc. there are a few things that you need to do to get that home sold.

First select the right agent who will actively, and aggressively market your home. Interview a couple of agent. Have them explain to you how they will market your home and what they will do to get your home sold.

Do not go on the market high thinking that you can drop the price later if your home does not sell. List at a salable price. You want to be the best value on the market right now - this is not the time to price your home at the same price as competitive homes like was done during a strong market - this is the time to price your home lower than competing homes. Buyers have so many choices right now and unless you are the best value you are not even on their radar.

Your house needs to shine and make a good impression. It needs to stick out of the crowd. Don't overspend on fancy upgrades but really make the home shine with a fresh coat of paint, clean flooring, clean windows and 'tidy up' every room. Bring light into your home (leave lights in your house on even during the day, and borrow some extra lamps from friends for more light). Add a little life with a few house plants.

Make showings easy. Do not restrict showing times or ask for a lot of notice before showings. If it is a pain for buyers to view your home they will go on to the next house.

If you get an offer you don't like, do not reject it. And do not get offended no matter how far apart you think you and the buyer are. Negotiate; keep the dialogue going. Remember, your house is only worth as much as an able, willing buyer will pay for it. Do not give your home away but realize that the buyer is in the driver seat.

If you are looking to sell to move up, this is a great time to do it. Yes, you will get a little less for your current home than a few years ago but you will be able to save on your move up house.

For more detailed advice and help with selling your home in the Greater Seattle area, please contact the Brooks & Heinze Team at Remax NW Realtors.

Kerstin G. Brooks, ABR, Realtor
Brooks & Heinze Team
Remax NW Realtors
www.propertyinseattle.com

Many homeowners wonder when to schedule home maintenance. Some of you, the do-it -yourselfers take great pride in doing the maintenance yourself or only calling a contractor in on the big jobs. Some of you busy moms and professionals would rather have someone else do it quickly and right the first time. Either way is fine - just do it or have it done.

Following is a brief outline of some of the most common home maintenance jobs and repairs, as well as a guide on how to select contractors should you decide to hire one.

The old adage of “an ounce of prevention is worth a pound of cure” rings true for home maintenance. Simple and relatively inexpensive regular maintenance can help avoid many extensive and expensive problems.

Home maintenance by season:

Fall Maintenance
Clean and repair gutters. Recaulk exteriors around windows and doors. Fill all other holes and gaps. Remove debris and moss from the roof. Keep debris away from the home such as leaves, plants, wood, etc. Replace your furnace filter and have your furnace serviced. Late fall/early winter freeze proof your exterior plumbing.

Winter Maintenance
Recaulk and regrout in tubs/shower and sinks. Check seals on dishwasher/washer. Check dishwasher/washer hoses for leaks. Check dryer hose and vent for lint blockage. Check for leaks in your attic, basement and your water heater.

Spring Maintenance
Clean and repair gutters. Remove debris and moss from roof. Replace damaged roof shingles. Repair torn screens and check siding. Power wash walkways and drive ways. Power wash and restain decks and check for rot/insects. Late spring/early summer cut back trees and shrubs hanging over or touching the home.

Summer Maintenance
Check exterior paint and sand/repaint as necessary.

How to select a contractor:

Get a referral from your real estate agent. One way to retain or increase property value is by doing the proper maintenance and sometimes upgrades – your real estate agent knows all about that and most likely, if she/he is a good agent, she/he knows which companies do a great job when it comes to maintenance, repair and remodel.

If you are looking for a contractor in the Seattle area, contact Kerstin G. Brooks or Krisanne Heinze of the Brooks & Heinze Team at RE/MAX NW Realtors for a referral to a roofer, electrician, plumber, handyman, power washer, cleaner, and more.

Have a great day,
Kerstin G. Brooks
The Brooks & Heinze Team
206.276.5827
Email: info@propertyinseattle.com
Web: www.propertyinseattle.com

Many homeowners wonder when to schedule home maintenance. Some of you, the do-it -yourselfers take great pride in doing the maintenance yourself or only calling a contractor in on the big jobs. Some of you busy moms and professionals would rather have someone else do it quickly and right the first time. Either way is fine - just do it or have it done.

Following is a brief outline of some of the most common home maintenance jobs and repairs, as well as a guide on how to select contractors should you decide to hire one.

The old adage of “an ounce of prevention is worth a pound of cure” rings true for home maintenance. Simple and relatively inexpensive regular maintenance can help avoid many extensive and expensive problems.

Home maintenance by season:

Fall Maintenance
Clean and repair gutters. Recaulk exteriors around windows and doors. Fill all other holes and gaps. Remove debris and moss from the roof. Keep debris away from the home such as leaves, plants, wood, etc. Replace your furnace filter and have your furnace serviced. Late fall/early winter freeze proof your exterior plumbing.

Winter Maintenance
Recaulk and regrout in tubs/shower and sinks. Check seals on dishwasher/washer. Check dishwasher/washer hoses for leaks. Check dryer hose and vent for lint blockage. Check for leaks in your attic, basement and your water heater.

Spring Maintenance
Clean and repair gutters. Remove debris and moss from roof. Replace damaged roof shingles. Repair torn screens and check siding. Power wash walkways and drive ways. Power wash and restain decks and check for rot/insects. Late spring/early summer cut back trees and shrubs hanging over or touching the home.

Summer Maintenance
Check exterior paint and sand/repaint as necessary.

How to select a contractor:

Get a referral from your real estate agent. One way to retain or increase property value is by doing the proper maintenance and sometimes upgrades – your real estate agent knows all about that and most likely, if she/he is a good agent, she/he knows which companies do a great job when it comes to maintenance, repair and remodel.

If you are looking for a contractor in the Seattle area, contact Kerstin G. Brooks or Krisanne Heinze of the Brooks & Heinze Team at RE/MAX NW Realtors for a referral to a roofer, electrician, plumber, handyman, power washer, cleaner, and more.

Have a great day,
Kerstin G. Brooks
The Brooks & Heinze Team
206.276.5827
Email: info@propertyinseattle.com
Web: www.propertyinseattle.com

So, what's going on in the Seattle market? If you live in Seattle but listen to the national news, all you hear is about how the housing market is in the toilet. Yes, the housing market has slowed in Seattle over the last year but not as much as the national average (not by a long shot).

Well, there are a couple of things going on in Seattle that make this still a healthy real estate market. Of course, our market has slowed down and the changes in the mortgage industry, high fuel and food prices, credit crisis, sub-prime delinquencies, etc. are to blame for that. But our employment market is great and it is keeping our real estate market in good shape.

The good news is that Microsoft and Boeing are doing well and are adding jobs in the information services and manufacturing sector. The unemployment rate in the Seattle-Bellevue-Everett area has remained low at 4.1% in May (lower than the national 5.5% rate). Source: Bureau of Labor Statistics: http://www.bls.gov/news.release/archives/laus_06202008.htm

The U.S. Census Bureau estimates that there will be a 8.7% change in population in the U.S. between the years 2010 – 2020 and a change of 13.6% change in Washington State during the same period. The projected change in the U.S. between 2000 – 2030 is 29.2% and 46.3% change in Washington State during the same period. Source: U.S. Census Bureau: http://www.census.gov/population/projections/PressTab7.xls

Where are all these people going to live? In apartments, houses and condos, of course. If these projections are correct, there will be an increased need for housing in Washington, which should bode well for real estate values. Some areas are showing a projected decline in population, such as D. C., North Dakota and West Virginia.

In short, Seattle is affected by the national economy and prices have dropped which is great for buyers who can take advantage of some great deals. How long will it be a buyer’s market? Who knows … for a while longer; but the great employment opportunities, good income, population growth and limited availability of buildable land (due to geography and environmental protection laws) make for a strong housing market that is good now and will be fantastic in the future.

So, buy a house in Seattle!

Kerstin G. Brooks, ABR, Realtor
Brooks & Heinze Team
Remax NW Realtors
Phone: 206.276.5827
Email: kerstinbrooks@earthlink.net
Web: http://www.propertyinseattle.com/

With mortgage delinquencies rising, many homeowners find themselves faced with the threat of foreclosure. Many homeowners do not know what their options are and where to turn.

The questions for many then is what the homeowner can do if anything to protect against the bank and losing their home.

What the homeowner needs is knowledgable support from professionals who know what to do when foreclosure is knocking on the door:
- a real estate agent can provide a property analysis to find out the current market value of the property
- a mortgage broker can determine if a refinance is available
- a lawyer who specializes in foreclosures can advocate on the homeowner's behalf with the lender and provide guidance in understanding legal options and impacts

What not to do as a homeowner:
- do not ignore the reality of delinquency and foreclose; procrastination and denial may limit your options to stave off the bank; swift action on the other hand may save your home and credit

What needs to be done:
- in some cases, a quick sale may the best option
- in some cases, negotiating for modified terms and payoff concessions with the lender may be the best option
- and in some cases, surrendering the home through foreclosure or deeding the property to the bank may be the best solution

What's the right solution for you if you are faced with foreclosure?
- every situation is different and there is no straightforward answer without knowing all the facts (worth of you property, loan balance, income, market situation in your area, etc.).

You may be able to keep your home if you take the proper action but sometimes, it may be best to sell.

Working with individuals who know the industry can help ease the stress and confusion. The right professionals with experience and compassion can help you make the right decision for your situation.

Kerstin G. Brooks, ABR, Realtor
Brooks & Heinze Team
Remax NW Realtors
Phone: 206.276.5827
Email: kerstinbrooks@earthlink.net
Web: http://www.propertyinseattle.com/

With mortgage delinquencies rising, many homeowners find themselves faced with the threat of foreclosure. Many homeowners do not know what their options are and where to turn.

The questions for many then is what the homeowner can do if anything to protect against the bank and losing their home.

What the homeowner needs is knowledgable support from professionals who know what to do when foreclosure is knocking on the door:
- a real estate agent can provide a property analysis to find out the current market value of the property
- a mortgage broker can determine if a refinance is available
- a lawyer who specializes in foreclosures can advocate on the homeowner's behalf with the lender and provide guidance in understanding legal options and impacts

What not to do as a homeowner:
- do not ignore the reality of delinquency and foreclose; procrastination and denial may limit your options to stave off the bank; swift action on the other hand may save your home and credit

What needs to be done:
- in some cases, a quick sale may the best option
- in some cases, negotiating for modified terms and payoff concessions with the lender may be the best option
- and in some cases, surrendering the home through foreclosure or deeding the property to the bank may be the best solution

What's the right solution for you if you are faced with foreclosure?
- every situation is different and there is no straightforward answer without knowing all the facts (worth of you property, loan balance, income, market situation in your area, etc.).

You may be able to keep your home if you take the proper action but sometimes, it may be best to sell.

Working with individuals who know the industry can help ease the stress and confusion. The right professionals with experience and compassion can help you make the right decision for your situation.

Kerstin G. Brooks, ABR, Realtor
Brooks & Heinze Team
Remax NW Realtors
Phone: 206.276.5827
Email: kerstinbrooks@earthlink.net
Web: http://www.propertyinseattle.com/