Tag Archives: VAMRES

What You Need to Know About Relocating

Moving, whether across town or across the country, can evoke a blend of excitement and dread. New job? New digs? New scenery?  Hooray! Good-bye to friends and family? Loss of familiar routes and routines? The hassle of packing, moving, and setting up in a new location? Perhaps not so exciting.

One thing I’ve learned over the years is that “what you focus on expands.” Sure, you need to address the downsides. But by focusing on the upsides, your positive perspective will make all the difference in the world. Just think: you’ll get to explore a whole new place and all that that new place has to offer! There’ll be new activities, new restaurants, new friends, new parks, and more.

With that in mind, here are some suggestions about the kinds of things you’ll want to research before or during your move process:

1. What amenities are available in the new location and how important are they to your lifestyle?

The area or neighborhood you live in makes your home what it is. Check out Google Maps before your big move. Maybe even make a list of the advantages and disadvantages to each area you research—it can help make the decision easier. If your kids are in school, you’ll likely want a school facility close by. Do you want them to attend a private or public school? Is there one close by? What about grocery shopping? Is it easy to get to? Do you like to have a gym you can walk to? Are there parks? Ask yourself these questions ahead of time. Determine their importance to you and your family.

2. What is there to do in the new location (e.g., recreation and events)

Find out what big events and attractions there are. If your family is into skiing or mountain biking (or any other sport/activity), look to see if there is a place close by where you can participate. What events are there coming? (Finding activities and fun events to look forward to can lessen the impact of a move, such as moving far away from friends and family.)

3. How much does it cost to live in the new location? (Be prepared.)

Cities come with different price tags, as far as cost of living goes. Make sure you know what you’ll be spending before you commit. Gas and grocery price can be different in different regions. Calculate what you can expect to spend in your new city—how does that work for your budget? Shrewd financial planning in advance can make all the difference in avoiding future panic or crises.

4. Plan how you’ll connect once you get there. What are ways you can meet people in your new location? A sense of community and belonging is the first and best way to feel settled and “at home.” Some of this may come from a job or school, but not all of it.  Where can you find likeminded new friends to share life and experiences with? Is there a faith community you can connect with? Civic clubs? Non-profits and community service organizations you can join or volunteer with? Sports teams/fitness clubs you can join? Jumping in to environments like these can make the integration process go much more quickly.

My motto is “love where you live,” and there are so many ways you can help make this happen for yourself and your family when a relocation is involved. I hope these have been helpful; they are only a start.

If you are anticipating a move and have real estate needs as a part of the package, I hope you’ll give me a shout or send an email. Even if you’re moving across country or in another town, I can help with referral and connection to a trusted real estate professional in my network. I’ll do my best to help you and your family “love where you live,” wherever that may be!

Doug Lawrence is a licensed broker with Keller Williams West Sound. He is a certified Veterans and Military Relocation Specialist and a Global Property Specialist. No matte where your move may take you, he can help! You can reach him through this site, by email at dlawrence@kw.com, or by phone/text at 253.341.5287.  

On Low Inventory: From Challenge Comes Opportunity

The last few months have been a bit frustrating for a number of my clients as it took longer than anticipated for them to secure contracts on new homes. Finding suitable and available houses, and then securing the winning bid among competitors, has been a challenge!

My clients are not alone when you look at what’s going on around us: low inventory is the foremost issue in the housing market right now. Buyers in today’s market in our area face relentless demand for a scarce supply of reasonably priced homes. In fact, in a recent survey by the National Association of Mortgage Professionals (NAMB), fifty-eight percent of mortgage professionals cited low inventory as the biggest hurdle for homebuyers today.

The inventory dilemma has even overshadowed concerns about mortgage lending standards. These standards, which some still view as too strict, have relaxed since the early, strong-armed days post-recession. In fact, according to a recent survey by Fannie Mae, more lenders have taken steps to open up access to credit since the start of 2017, and more plan to continue to do so in the future. This is good news! And coming up with enough money for a down payment has also become less of a factor, according to the same NAMB survey.

I was glad to be alongside my clients, helping them navigate this challenge, and ultimately helping them find and secure their homes. At the same time, my clients who are sellers have also appreciated the  professional assistance to deal with multiple offer situations.  Face value is not always an accurate representation of reality. That’s why having an experienced real estate agent is more important than ever to help both buyers and sellers navigate this intensely competitive market.

Undeniably, there are fewer homes on the market—but there are also many opportunities. How will you use today’s environment to your advantage?

Doug Lawrence is an agent with Kellers Williams WestSound in Gig Harbor, Washington. You can reach him at dlawrence@kw.com for advice or assistance on your upcoming home sale or purchase.

Buying a Home in a Low Inventory Market

Probably the biggest frustration I’m hearing from buyers these days is, “Where are all the houses?” The problem transcends price range and location, and even buyer demographic. What’s going on?

It’s been many months now of a below-normal supply of homes for sale in most regions. And, according to a recent analysis from Realtor.com, this year is expected to be even more challenging. “We started 2017 with the lowest inventory of homes for sale since the recession, and possibly in decades,” said Realtor.com Chief Economist Jonathan Smoke.

Add to that the expectation that interest rates will rise to perhaps 4.5 percent or more this year. The result? The demand for homes has become even more intense, and will only get more competitive as the calendar year goes on.

Real estate experts say that eight of the 10 “best value” days (statistically) to buy in a new year are generally in February, and the other two are in January. For 2017, those days have come and gone, but the analysts maintain savvy buyers can still obtain discounts—albeit smaller ones—in April. However, they say, if home buyers wait until the period from May through September, they are likely to pay a premium of up to five percent above the median home price for their area.

So what to do? Don’t give up. Here are five creative ideas for finding a home in a low-inventory market:

  1. Be clear on your ideal location/neighborhood(s).
  2. Search expired listings.
  3. Don’t rule out sale pending listings. Make a back-up offer that will put you in a first place position if the other buyer walks away.
  4. Talk to people in the neighborhood – do they or anyone they know want to sell? Consider door knocking. (Granted, this is desperation and it is recommended you be accompanied by a realtor.)
  5. Join groups or follow social media pages from that location, in hopes of a “Home for Sale” posting.

Finding a home in a low-inventory market is not impossible, but it is a challenge. Work with your realtor (that’s me!) in coming up with out of the box ideas for finding listings that may not surface on an initial MLS search. Have your financing all ready to go, be realistic about your inspection expectations, and be ready to start with your best offer. All these will contribute to your best chances at being in your dream home come summertime!

Doug Lawrence is a licensed broker with Keller Williams West Sound in Gig Harbor, Washington. Finding the right buyer for the right house (or the right house for the right buyer) at the right time is his specialty. You can reach Doug at www.douglawrencerealestate.com or dlawrence@kw.com.

Photo credit: home yellow by nikcname

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.

Love Where You Live

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I love where I live. I realize that’s not the case for everyone; in fact, on more than one occasion I’ve been accused of overselling my community. People will remark, “Your city can’t be THAT great,” or, “You make it sound like you live in Paradise!”

Truth be told, I DO think it’s a little bit of paradise.

I love where I live for many reasons: it’s beautiful. It’s what I consider to be convenient. It has a great sense of community.

“Where I live” happens to be Fox Island, Washington, a quaint bedroom community that’s part of the general Gig Harbor area. I often comment that when I cross the bridge to our island, it feels like I’m on vacation. Being on vacation every day—what’s not to love about that?

Another thing I appreciate about my community is how active people are around here. And it’s rubbed off on me! Gig Harbor just happens to be the “Gateway to the Olympic Peninsula,” a veritable smorgasbord of natural beauty and opportunities to enjoy the outdoors. One opportunity my wife and I took advantage of this summer was to hike the Dungeness Spit up near Sequim.

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Five miles in length, it is North America’s longest naturally-occurring spit. At its far tip is a charming, historic lighthouse. Once manned and operated by the US Coastguard, its light is maintained today by a corps of volunteers who join the lighthouse association and serve a week at a time as lighthouse keepers. Arlyn and I have put that on our bucket list! (In the meantime, the 11-mile round trip hike was challenge enough for us.)

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That foray to the Peninsula also led us to Sol Duc Falls, up past Port Angeles and Crescent Lake in Olympic National Park. This comparatively short hike yields extremely high rewards as you walk through the lush, old growth forest and come out on the breathtaking Sol Duc River as it carves its way down the mountain. Yep, paradise.

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Can you see why I love where I live? These are just a couple of examples of what I’ve got in my own back yard. What’s in yours?

Doug Lawrence is professional real estate broker who is delighted to earn a living helping people live where they love and love where they live. You can reach him at dlawrence@kw.com or at his website 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