Category Archives: Military Relocation

Is a Rehab Loan Right for You?

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If you’re a person who wants to get the house you want for the price you can afford—without getting into a bidding war for that move-in ready one—you might want to consider a rehab loan. Known in the industry as a 203K, this is a great option for getting a nearly custom home for a steal.

I recently worked with a young couple to buy their dream home, sort of. In that, I mean, it their dream home. But when they bought it, it wasn’t even close. Here’s how it worked:

  1. We found a house with good bones in a great location that just happened to be owned by HUD (Housing and Urban Development). We purchased the property at a good price, based on its condition. My clients had a fantastic vision for what this little rambler could be.
  2. That’s when the leg work started. We gathered bids for all the desired—and, in some instances, required—improvements.
  3. They applied for a loan for the purchase price plus the estimated repair budget, added on a little extra for anticipated cost overruns, and submitted the whole package to the bank for approval.
  4. When the approval was granted, the great news was that the final subject appraised value was going to instantly give my clients a boost of 10% equity once all the improvements were completed.

These were the kinds of repairs they made for this project:

  • new roof
  • new kitchen
  • new flooring throughout the house
  • removal of popcorn ceilings
  • paint throughout
  • new millwork
  • upgrading insulation in crawlspace

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Essentially, they will have a move-in ready, custom home, purchased for well within their budget, and with instant equity. What’s not to love about that? Although a 203K might not be for everyone, it’s a great way to end up with the house you want, for the price you want, if you’re willing to invest a little extra time and effort.

DOUG LAWRENCE is a licensed real estate broker with Keller Williams West Sound in Gig Harbor, Washington. If you are looking to buy, sell, or invest in real estate (203K’s or otherwise) in the Pierce or Kitsap County areas in Washington State, he’d be happy to lend a hand! You can find him at www.douglawrencerealestate.com.

The Gift of Giving

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The value of a (person) resides in what he gives and not in what he is capable of receiving.

~Albert Einstein

As much as I enjoy receiving Christmas gifts, I think my favorite part of Christmas has always been watching my family unwrap and enjoy the gifts I have chosen for them. I really do find it more fun to give than receive (not that I don’t like receiving!).

The quality of “living to give” is something I admire in others. People who live generously—not just with their money, but who give generously of themselves—really make the world go around. Many times, they are nameless and faceless, so to speak—not motivated by recognition or financial return on their investment, but rather by the intrinsic joy that comes with generosity.

This runs counter cultural to the messages we receive around us in our culture most of the time and especially over the holiday season. Buy, buy, buy. Accumulate. Indulge. You deserve it. At the same time, there is a whole population, a whole world, that is desperately in need—and not just materially. Sometimes the greatest needs are needs of the heart, for things like compassion, friendship, and assistance.

Generosity is that quality that empowers us to be the answer to another person’s need, whether that need is financial, emotional, practical, or spiritual. A friend of mine pointed out, “We win by losing. We gain by giving away. And, our greatest memories are of the gifts we gave rather than the ones we received.” I couldn’t agree more.

I hope you enjoy the best gift of all this holiday season – the gift of giving!

Best wishes, Doug

Doug Lawrence is a certified real estate broker with Keller Williams Realty in Gig Harbor, WA.

The Biggest Room in the House

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Someone once told me that the “biggest room in the house is the room for improvement.” This is a pretty profound statement if you pause long enough to consider it. It can certainly be humorous when applied in the right situations but, at the same time, it can have a profound impact on a given situation or even on a life when applied with careful thought and consideration.

In light of our current climate, immediately following the presidential election, I am reminded of this little phrase and the potential it holds. How have we become a nation of finger pointers and name callers, all the way to rioters and looters? Have we lost sight of who we are, what we were, and how far we have come? And, where we have the potential to go?

(You may be thinking, Isn’t this supposed to be a real estate blog? Well, yes it is, and if you have a need to buy, sell, or invest in real estate—or know someone that does—then I am your guy. There, I got that out of the way.)

That little phrase about the biggest room in the house being the room for improvement is a philosophy I have tried to make a part of my everyday life. It’s a principle I always want to consider again and again in a pursuit to be the best me, in a pursuit to be the best dad, the best husband, the best citizen, and so on. Whoever you are and whatever you do, I think we all have this inherent responsibility to be the best us—the best teacher, actor, delivery driver, parent, or leader, etc. we can be.

I was struck this week by the story of a young lady (and first-time voter) who was very emotionally affected by the outcome of the election. She ranted at first, maybe even shed a tear. But then she allowed herself to be challenged. How could she improve herself? How could she make her room, her campus, her world better? She took action; she volunteered for an overnight immersion program sponsored by her university where students spend time with the homeless in their community, serving, eating and talking with them, and experiencing the same living conditions they experience. This young lady is endeavoring to make her “room for improvement” a reality. She is, in her way, making a difference.

What is your room for improvement? Do you need an attitude adjustment? How can you start or continue to make a difference in your corner of the world? We may not be able to change the nation all by ourselves, but we can affect our small portion of it. What this nation needs now more than ever is unity. It needs understanding and true tolerance and peacemaking. We need to challenge ourselves as neighbors, as citizens, as parents and friends and employers and employees. Change a perspective, change a tire for a stranger. Listen instead of being the first one to speak. Volunteer or support those that do.

Come on, people; let’s make a real difference. Let’s effect change for the positive. Let’s start a renovation in the biggest room in our house!

Doug Lawrence thinks a lot about houses, being a real estate broker with Keller Williams Realty. Doug lives on Fox Island and has been a Pierce County resident since 1990. He would be happy to help YOU find YOUR perfect house; you can contact him at dlawrence@kw.com or visit his website, http://www.douglawrencerealestate.com.

 

Military Relocation? You Need a VAMRES!

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If you’re a member of the military, you know the importance of making a move quickly, efficiently, and with as little fuss necessary for you and your family. Getting settled comfortably and quickly into a new community is a frequent and important part of the military lifestyle.

As a former Marine and one who has experienced military moves in the past, I was excited for the opportunity of earning a VAMRES certification to my real estate broker’s license, to enable me to be a resource to relocating military personnel. It’s a great opportunity to serve those who serve!

A VAMRES-certified broker (VA Military Relocation Specialist) has the expertise and experience necessary to help you navigate some of the more finer-tuned components of a military move, and the ability to refer you to VAMRES-recommended Loan Expert.

Interested? Here are 5 steps to buying your new home with a VA Military Relocation Specialist team (VAMRES Realtor and Home Loan Expert):

  1. Determining eligibility – connect with your VAMRES Agent and Home Loan expert to get your eligibility quickly and identify the kinds of loans for which you qualify. Many times you can use your VA loan eligibility to purchase your home with no money down (and you can use your entitlement more than once).
  2. Viewing, selecting, and inspecting the home – locate an experienced VAMRES Realtor who is well-connected the local real estate market and can help you find the best neighborhood and home for you. With VetMove.com,  you may also quality for a free home inspection!
  3. Requesting the loan – work closely with your Loan Expert to get pre-approval before submitting an offer. In a hot market, this is a big advantage!
  4. Appraising the property – Once your offer is accepted, your VAMRES Home Loan Expert will order the appraisal and start the full loan process.
  5. Closing the sale – Your VAMRES Home Loan Expert and Realtor will help you navigate the process and confirm the closing transaction once your loan has been approved.

The Puget Sound area is home to a number of military bases, including the Bremerton Naval Shipyard and Joint Base Lewis McChord, covering the span of Pierce, Thurston, and Kitsap Counties. There are many fine communities and neighborhoods in these counties, and I’d be happy to show you around!

Doug Lawrence is a certified broker with Keller Williams Realty in Gig Harbor, WA.

Photo credit: Stuart Miles and freedigitalphotos.com