Spectacular custom built home on Debra Jane Lake has everything imaginable including central A/C! Interior features Master and lower bedroom with lake views, walk-in-closets in all upper bedrooms, extensive hardwood floors, central vacuum, surround sound through the entire house, spacious kitchen with walk-in pantry, stainless appliances that all stay, and plumbing ready to add a wet bar, etc. in the basement! Outside boasts large patio, fresh paint, beautiful terraced landscaping, balcony and BBQ hook-up for the ultimate in Summer or anytime entertaining. Huge garage/ shop with built-in storage and half bath (potential for Mother-in-Law/ Man Cave / Apartment, etc.) leads down to the home in a fully enclosed and carpeted staircase. Community Clubhouse, Pool, Sport Courts, boat launch, fish stocked lake and MORE!! For a private showing, call Liz Johnson at 253-670-0357. This house will be open on Sunday, July 5th, from 1:00 p.m. – 4:00 p.m. Click on the picture below to watch a short home video.
Freddie Mac’s Primary Mortgage Market Survey, released on June 4, indicated the average interest for a 30-year fixed-rate mortgage remained the same on a week-over-week basis. However, Bankrate tracked a small decrease from the previous week. In both instances, the rates remained at a higher level than seen in 2015.
Interested homebuyers may want to make their move now to take advantage of the current rates before they increase as a reflection of a stronger U.S. economy and job market.
Mortgage rates stay at the highest level seen in 2015. While rates for 30-year FRMs remained the same from last week, the average interest on 15-year FRMs decreased to 3.08% from the previous week’s average of 3.11%.
Rates for both 30- and 15-year FRMs remain below the average rates from a year ago at this time. This suggests it is still a good time for interested buyers to apply for conventional mortgages and secure these lower rates.
“Mortgage rates were little changed for the week following mixed economic data before bond yields began moving higher Wednesday afternoon,” noted Len Kiefer, Freddie Mac’s chief economist.
“Although real GDP growth was revised down to a negative 0.7 percent annualized rate, the Institute for Supply Management reported a modest growth in the manufacturing sector in May.”
Bankrate tracks little change from the previous week. According to Bankrate, 30-year FRMs decreased slightly to 4.06% and 15-year FRMs jumped to a new 2015 high of 3.26%. Home prices and overall demand for housing may also be responsible for current rates.
“The numbers are showing home prices growing just about everywhere,” said Patrick Newport, an economist for IHS Global Insight. “I think that what’s driving them isn’t mortgage rates. It’s the tight market inventory.”
Experts recommend buying now to lock in lower rate. Most professionals in the lending industry believe low interest rates will not continue. If an interested homebuyer can afford a home, he or she should make the move toward purchasing real estate.
In addition, mortgage payments with current interest rates will likely be less expensive than renting a living space.
“Most people expect the Fed to raise rates by midyear,” Newport noted. “Mortgage rates are bottoming out right now.”
This is 55+ living, at its finest! Check out this gorgeous home with 2 Master Suites, quality workmanship, with a State of the Art community facility opening in the fall of 2015, and a highly desired community, Tehaleh in Bonney Lake. Click on the photo for more details! Call Liz Johnson for a private showing at 253-670-0357.
Truth Spoken Here!
There are many scenarios where hiring a professional is best, and my friends, Real Estate dealings is a prime example! Give this professional a call; happy to help – 253-670-0357.
HELPFUL TIPS ON BUYING NEW CONSTRUCTION!
A lot of people ask what’s different about buying new construction.
First of all, you’re buying from the person who built it, not the person who called it home. The property is often one of many the builder is trying to sell. This can lead to a different dynamic both in negotiating and throughout the transaction.
What can you expect? Here are some of the most important things to consider when buying new construction.
1. Find a great agent!
Be sure it’s someone who has experience in new construction and isn’t affiliated with the builder. Model homes are typically staffed by a real estate agent who has a relationship with the builder. It’s important for you to have an agent to represent your best interests, from advising you on how to structure your offer to be most appealing to the builder to making choices that can affect your home’s resale value. Some developments have site registration policies that require your agent to accompany you on one of your first few visits.
Pro Tip: Ask your agent to check the site’s registration policy before you go. Your agent may be able to register you online or via phone so you can visit the model at your convenience. Or you may arrange a time to look at the community with your agent.
2. Be creative during negotiations.
Builders don’t like to drop their prices. Instead, consider asking for the builder to pay closing costs or perform upgrades at no additional charge. Builders are often reluctant to set a precedent for negotiating prices since future buyers in the development may expect similar discounts. Consequently, builders are often more likely to negotiate “on the back end” since closing costs and upgrades are a less obvious way for them to sweeten a deal.
Pro Tip: If you’re considering an offer, ask your agent to research the builder’s negotiating style on prior sales in the community and other developments they have built to determine if there is a particularly effective way to approach the offer.
3. Get everything in writing.
Don’t sign anything until everything has been negotiated, agreed upon and written into the contract. If you’re considering purchasing a home that is not yet complete, it’s very important to spell out how the home will be finished, what will happen if construction is not completed on time and the deadlines for decisions that will occur through the process. Verbal conversations are not binding, so everything important must be put in writing and signed by all parties.
Pro Tip: Builders often use customized purchase agreement documents in place of standard forms commonly used in your area. Ask your agent to get a copy of the builder’s documents to review in advance.
4. What you see isn’t always what you get.
The fit and finish of the model home doesn’t necessarily represent what comes standard.Often the model home reflects a mix of standard materials and fixtures, as well as a handful of upgrades. When touring the model home, make sure to find out which is which. The important thing is to know exactly what you’ll be getting, what’s available and, of course, what it will cost. Keep in mind that costs can change. The price quoted at the start may not be the same when you decide to move forward.
Pro Tip: Ask your agent to help you get a list of standard features and, if available, a list of common upgrades and their associated costs.
5. Do your research on the builder.
Search online for reviews, testimonials and news. Keep in mind that many builders will have both happy and unhappy customers in their past. Look for trends in reviews and make sure any concerns are covered in the purchase agreement documents.
Pro Tip: Ask your agent if they’ve worked with the builder in the past or are aware of their reputation.
Double Pro Tip: Ask me, a Certified New Home Ambassador, how I can help you through this process.