At Carrie Pierce & Associates, we truly listen to your needs and place your best interest above our own 100% of the time. Call us to set up a one on one consultation and experience our top of the line service today!
11300 Pinehurst Way NE Seattle, WA 98125 (425) 518-1176

How Seattle Neighborhoods Have Weathered the Real Estate Storm

Seattle

If you live in Seattle, you might be wondering how hard your particular neighborhood was affected by the market crash.

Below are the percentages in price drop by neighborhood from July 2007-July 2011. Thank you to Zillow for providing the average home prices per neighborbood in July’07 and July ’11 so we could reach these statistics.

Read more ...

Buyer Beware When Purchasing REOs

I’ve had many clients ask me to find them a good deal on a REO, or bank owned home. They have the impression that REOs are a great way to get good deals on real estate. This is true, you often times can get a good deal. However, buyer beware. Banks have recently been sneaking language into their mandatory addendums that effectively makes buyers responsible for excise tax. Buyers get a not so nice surprise at closing when they see that they owe this money. Excise tax is 1.78% of the sales price in Washington State. Therefore on a $500,000 home purchase excise tax is $8900. What’s worse is buyers typically cannot back out of the contract at closing so they must choose either losing their earnest money or paying the excise tax. Bank Owned Home

The properties owned by government entities Freddie Mac and HUD are exempt from excise tax so these contracts are safe from the excise tax clause. However it’s always a good idea to have an attorney look at the bank’s addendums before you sign.

Read more ...

First Time Home Buyer Class - Can It Help?

If you are seeking to buy your first home, you might benefit from attending a first time home buyer class. A class like this instructs the first time home buyer in the in's and out's of this exciting but scary point in their life. You’ll learn the home buying process from start to finish as well as important financial information about buying homes. The class will answer your most common questions such as the following:

Where does the process start?

  • Should I rent or should I buy?
  • What are the risks?
  • What is escrow and earnest money?
  • What are the benefits of a home inspection?
  • What happens when my offer is accepted?
  • What are the tax implications?
  • And more!

 

Read more ...

Read Your Purchase and Sale Contract

While I certainly appreciate how busy people have become these days, I see many people signing Purchase and Sale paperwork without knowing what they are signing. You would be surprised to learn all of the nuances of the contract that could get you in trouble if you’re not careful. Your Realtor should be explaining the contract to you and a good Realtor will take the time to explain it in full. However as with any legal paperwork you are responsible for reading what you’re signing.

Read more ...

Selling a Home With a Renter

House for Sale that is Sold

Lately we’ve been seeing a lot of homes being sold with tenants occupying the property. Reasons for this have to do with owners not being able to afford the home being vacant while it’s for sale, or an owner needs to put the home on the market prior to the tenant’s lease ending. If you’re an owner wanting to sell your home with tenants, you may want to think twice. And a lot of it depends on the personality of your tenants.

Let’s weigh the benefits of having tenants occupying the house vs. not occupying a house. The positive side of tenant occupancy during a sale an owner will receive rent while it’s occupied. That’s it. The benefits stop here.

Read more ...