Featured Home: Log Home on 20 Acre Estate

Stunning custom built lodge-style log home nestled on 20-acre estate. Superb details of craftsmanship. Home is app 3000sf on 3 flrs w/3 bdrms & 3 bths. The master suite & loft are on the upper flr, 2 bdrms are on the lower flr. There is a barn/stable for horses & a multiple roomed shop for the craftsman. The landscaping will please the most discriminating gardner & includes an orchard & grape arbor. Year-round meandering stream thru property. Half way between Portland & Seattle app 7 minutes from I-5

Bedrooms: 3.0 Baths: 2.75 Price: $615,000
MLS# 29072586
Reference # R-2410

For more information or to see home, contact:
El Sanchez, 360-791-2991

Prudential Olympia, REALTORS®

2630 Martin Way
Olympia, WA 98506

Featured Home: Immaculate Lacey Rambler

Lacey, Washington

Home features 2 suites plus den with French doors. Big, bright and open floor plan in lovely neighborhood. Large great room with stone fireplace, high ceilings, dining area and lovely kitchen w/lots of counter space & ample nook plus desk area for computer.

Guest suite with access to full bath, spacious master suite with walk-in closet and beautiful private bath.

Lovely, well groomed yard with wonderful landscaping and nice sized patio. Garage with storage, all appliances stay. MLS # 60366.

For more information or to see home, contact:

Kim Rucker, 360-481-1863
Roberta Rudnick, 360-791-0688

Prudential Olympia, REALTORS®

2630 Martin Way
Olympia, WA 98506

Featured Home: Natural Beauty & Privacy

Stunning Shelton, WA Home

There are simply no words to adequately describe the beauty of this property: Rolling hillsides covered with trees, and a winding paved road leading to a truly unique and special home. If you are looking for natural beauty and privacy, this is for you. This home boasts a huge open floor plan, soaring ceilings, bright open kitchen, high end finish level, bonus room, huge 8 car shop/garage with separate living area, an additional garage in back and just too much to list. It's simply a must see!
More photos & info

Bedrooms: 4.0
Baths: 2.75
Price: $459,000
MLS# 25521

Contact El Sanchez, 360-791-2991 or Roxanne Byrd, 360-480-2242

Prudential Olympia, REALTORS®
2630 Martin Way
Olympia, WA 98506

The Walkability Premium

How much more would you pay for a home that is within walking distance of a grocery store, a library, or your workplace? A new nationwide survey finds that people were willing to pay from $4,000 to $34,000 for homes in walkable neighborhoods, and that people throughout the USA find walkable neighborhoods a premium home feature.

You can check the walkability index of your own neighborhood -- or one where you're thinking about buying -- on the website walkscore.com. That site not only gives information at the neighborhood level, it also ranks the most walkable cities in the US. The top 10 are:

1. San Francisco, CA
2. New York, NY
3. Boston, MA
4. Chicago, IL
5. Philadelphia, PA
6. Seattle, WA
7. Washington D.C.
8. Long Beach, CA
9. Los Angeles, CA
10. Portland, OR

What makes a place walkable? "The cities at the top of the Walk Score rankings have density, mixed use, transit, short blocks—and almost everything else on our walkability checklist," the website says. "Most importantly, these cities have lots of destinations near each address, which is the strongest indicator of whether people walk."

The website has done detailed workups only on the 40 largest US cities, so no Olympia stats, (though you can look up your walkability score no matter where you live). In Seattle, the top neighborhoods for walkers are:

1 Pioneer Square
2 Downtown
3 First Hill
4 Belltown
5 Roosevelt
6 International District
7 South Lake Union
8 University District
9 Lower Queen Anne
10 Wallingford

Happy walking!

Is silver the color of real estate recovery?

Some real estate professionals and others are pushing for a unique solution to the current market slump: importing homeowners.

The idea is to encourage wealthy retired people from other nations to relocate to the USA, where they would buy homes and live out their lives while spending their savings on US goods and services. Some are calling this the "silver card" system, like the "green card" that is sought by people hoping to work in the USA.

The National Association of Realtors website says they have directed their staff "to explore the feasibility of creating and implementing a retirement visa or 'silver card' for foreign nationals who are over 55 years of age, have documented income and own U.S. residential real property." A report is expected at the NAR meeting in May 2009.

"Millions of dollars would get spent in this country. It would be a boon to the U.S. economy — to real estate, people buying properties, the automobile industry, the restaurant industry, retail, airline travel, furniture makers, there are so many dimensions," says John Mike, chairman of the Realtors Association of the Palm Beaches in Wellington, Florida.

Immigrant advocates, meanwhile, would say that wealthy foreigners should not get special treatment when thousands of others — including relatives of US citizens — are waiting for visas. And whether the "silver card" immigrants could be a drain on the US health care system is another heated question.

Five Tips to Help You Sell Your Home Fast

There is no question that in many parts of the country, houses are currently on the market longer. As a seller, this slow-down means there is more competition for a limited pool of potential buyers. Consider the following five tips to place your home on the fast track to sale:

Price It Right
The first 30 days are the most critical. If your home is priced too high, interested buyers may never even tour your listing. The longer the property is on the market, the fewer the prospects. Deciding the value of a home isn’t an exact science. Yet, there is data to help you determine a fair asking price that is right on target. You may want to hire a real estate appraiser for an objective, unbiased estimate. Then consult with a real estate professional who can help you determine true market value based on a comparable market analysis, which will include recent home sale transactions as well as homes currently on the market. From your analysis, you may want to price your home conservatively to give it a competitive edge.

Make Your Home Irresistible
Unless they are looking for a fixer-upper, most homesellers are more likely to make a bid on a home that they can enjoy immediately. Therefore, you need to create an environment the buyer can’t resist. In other words, do everything you can to make the home so attractive, charming, cozy, inviting, comfortable and exciting that a buyer will want to buy that lifestyle for himself. Evaluate the home from a buyer’s point of view. An experienced real estate professional will be able to offer an objective view and will also know what buyers are asking for. Get your home in tip-top shape by making repairs and cosmetic improvements, and removing clutter. This may mean investing in a few upgrades to modernize your home’s look such as installing newer carpet and light fixtures and painting the walls a neutral shade.

Create Traffic
If you want buyers to see your home, you must first find the buyers. Work with your real estate professional to design a marketing plan that is flexible and capitalizes on your property’s most desirable features. Your strategy should include ways to reach buyers online and offline – such as word of mouth, the Internet, yard signs, direct mail, open houses and so on.

Go with a Professional
Selling a home is more than just putting a sign in your yard and having a listing on the Internet. And in a competitive market, you don’t really want to take the chance of making novice mistakes that can slow the selling of your home. By hiring a real estate professional, you get the benefit of an experienced marketer and negotiator who is familiar with real estate issues in your community. A real estate professional can offer worthy advice on pricing and staging your home based on their vast experience. Plus, there’s the added value of the peer-to-peer networking among real estate professionals, which can bring buyers and sellers together – sometimes even before the property goes on the market.

Offer Incentives
Offering incentives can be just the impetus a potential buyer needs to select your property over others. You may want to consider offering a carpet or paint allowance. Or, pay for a professional home inspection or a home warranty – and, depending on your market and budget, offer to pay some of the closing costs. Don’t be discouraged if there are competing homes for sale in your neighborhood. With just a few smart moves, you can turn a buyers’ market in your favor.

Prudential Olympia, REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Do You Know Your Real Estate Facts?

How well do you know the real estate market? Will today's Fed move to lower interest rates have a direct impact on mortgage rates? Has the market bottomed out yet? Is it a bad time to sell and a good time to sell? We can't answer all your questions here, but here are a few myths that need busting, and points that need making.

1. Peak-to-trough home price declines to date have been about 20 percent. Wrong. Measurements of home price declines can be skewed depending on which homes in which markets are being measured. For instance, the Case-Shiller Index, which indicates that home prices are down 20 percent, is heavily skewed towards homes with subprime loans and other distressed home sales. These troubled homes have experienced a steeper decline than home prices in general, says Yun, adding that both government data based on loans backed by Fannie Mae and Freddie Mac and data from the National Association of Realtors suggest much more modest price declines. TIP: If you're selling your home, the best thing to do is price your home right.

2. The much smaller number of new homes now under construction indicates the dismal outlook for the housing market. Wrong. The inventory of homes on the market is very high, so the last thing we need now is more new homes being built. Home builders have cut back sharply on production, which will help lower inventories and stabilize prices. The builders have done exactly what market forces are dictating under current conditions, Yun says. TIP: With many new homes completed but not sold, you can find great opportunities.

3. Even when the housing market recovers, home price growth will be only 4 to 6 percent per year -- much less than historical average returns for the stock market. Most buyers put less than 20 percent of their own money into a home purchase; this borrowing power can translate to a greater rate of return. This is how Yun explains it: Home price appreciation historically has been about 1 to 2 percentage points higher than consumer price inflation, which translates into about 4 to 6 percent per year. But this growth rate cannot be viewed as a rate of return like the stock market. The reason is that most people do not buy a home for all cash, instead making a cash down payment and borrowing the rest. The leverage this borrowing creates can magnify returns -- and losses. If price growth returns to historic norm, the price growth of 4 percent can easily turn into 20 to 30 percent rate of return if the home buyer makes a down payment of 10 or 20 percent. TIP: Get the fundamentals right when investing in real estate.

4. Impending baby boomer retirements and moves to small homes will cause a glut of homes on the market. Wrong. The first edge of the baby boomers has reached 60 years of age and the massive bulk of that generation will soon go into retirement, but far from trading down, many of these older homeowners are keeping their homes or moving to ones of comparable size. And even if more boomers do sell their larger homes in the years ahead, Yun points out, the rapidly growing U.S. population should absorb the inventory of existing homes on the market. TIP: Active seniors can find a retirement community that caters to their needs and interests.

5. The federal government takeover of secondary mortgage companies Fannie Mae and Freddie Mac is a bailout that will cost taxpayers bundles. Too soon to tell, says Yun. It's conceivable that taxpayers may have to cover some losses. It's also possible that the government takeover will result in no loss of taxpayer dollars. Even if taxpayer funds are used, the bailout would be preferable to the global economic problems that would have occurred if Fannie and Freddie had gone belly up. TIP: Uncle Sam is "bailing out" homeowners facing foreclosure. Find out more about the Hope for Homeowners plan.

6. The Federal Reserve controls mortgage rates. Wrong. Yun explains: The Fed's activities influence mortgage rates but don't directly control them. What the Fed sets is a very short-term interest rate called the Federal Funds Rate. Mortgage rates are determined by global savings as well as credit spreads and inflationary pressures. Over the past two years, the Fed has raised the Fed Funds Rate to 5.5 percent, and then cut it deeply to around 2 percent. All the while, the 30-year mortgage rate has averaged in the 6 to 6.5 percent range. TIP: Today's rates don't look bad compared to the 10 percent we saw in the early '90s and 17 percent in the '80s.

7. It's the wrong time to buy. Wrong. All real estate is local. For those who are financially and mentally ready to buy, there has never been a better time to be a buyer in many markets. An abundant selection of homes and historically low interest rates give buyers an edge over sellers. The recently passed $7,500 federal tax credit for first-time home buyers creates an added incentive. For someone with a long-time horizon, Yun says, there is very little worry about home values since homes have historically provided a solid foundation for wealth accumulation. TIP: Compare the pros and cons of renting vs. buying to see what makes sense for you.

8. It's the right time for everyone to buy. No. All real estate is local, and everyone is unique. Someone who is not emotionally or financially ready should not be forced or induced to join the rank of homeowners, even when a market presents good buying opportunities. Potential homeowners clearly need to understand that the decision to move up to ownership requires sacrifices, like saving up for down payment and elevating their credit scores. Homeowners who lose their home to foreclosure serve no one's interest, Yun adds. TIP: Take a good hard look at your financial status and create a homeowner's budget to see if you're ready to buy a home.

9. It's a terrible time to sell. Wrong. In markets where home sales are picking up strongly, a seller can easily get an offer if the property is priced correctly. Also, Yun says, for those looking to trade-up, selling low on an existing home is more than offset by buying the new move-up home at a lower price. When the market recovers, home price appreciation on the traded-up home will bring bigger bang for the buck. TIP: Homebuyers want bargains in this market. If you price your home much lower than your competition, you might end up with a bidding war.

10. With the advent of the Internet, more and more homes are being sold by owners (FSBOs), and real estate practitioners are becoming obsolete. Nope. According to Yun, the share of home sellers who choose to go it alone when selling their home has actually decreased from about 20 percent in the late 1980s to about 12 percent today. Even after these sellers successfully complete a transaction, only 4 in 10 say they would sell their next home without the assistance of a real estate professional. TIP: You don't have to sign a listing contract to talk to a Realtor. Ask family and friends for referrals and interview a few. You might even get some free advice.

(source: HGTV's frontdoor.com)

Foreclosure Stats Released

Home foreclosures were down in September, according to a report released today but RealtyTrack. But the decrease of 12 percent from August still marked an increase of 21 percent over September 2007, and means that one in every 475 U.S. housing units received a foreclosure filing in September.

According to James J. Saccacio, chief executive officer of RealtyTrac:

Much of the 12 percent decrease in September can be attributed to changes in state laws that have at least temporarily slowed down the pace at which lenders are moving forward with foreclosures. Most significantly, SB 1137 in California took effect in early September and requires lenders to make contact with borrowers at least 30 days before filing a Notice of Default (NOD). In September we saw California NODs drop 51 percent from the previous month, and that drop had a significant impact on the national numbers given that California accounts for close to one-third of the nation’s foreclosure activity each month. Another example is North Carolina, where legislation was signed into law in August that requires lenders to provide homeowners and the state’s commissioner of banks a 45-day notice prior to filing a Notice of Default. We saw NODs drop 66 percent in North Carolina in September.

On the other hand, initial foreclosure filings in Massachusetts jumped 465 percent from August to September after being much lower than normal in June, July and August. That temporary lull happened after a new law took effect in May requiring lenders to give homeowners a 90-day right to cure notice before initiating foreclosure. But in September, about 90 days after the law took effect, initial foreclosure notices jumped back up close to the level we were seeing earlier in the year.

Read the report here.

How to Get Your Home in Selling Condition

As a seller, your No. 1 goal is to sell your home as quickly as possible at or near the listing price. In today’s market, where there is much more competition for buyers, it is important to put your best foot, or in this case, best home forward because first impressions are vital.

Many of today’s prospective home buyers have busy lifestyles and are looking for properties that don’t require a lot of work. Therefore a home in move-in condition is much more attractive. Before placing your home on the market, you may want to invest in making needed repairs.

To get started, inspect both the inside and outside of the home. Take inventory of practical and aesthetic repairs. You may want to apply a fresh coat of paint on the walls, doors, and shutters. Clean the carpet and buff and polish wooden floors. Tighten and polish hardware. Repair cracks in sidewalks and driveways, and clean any stains on them. Replace missing or warped roofing. Clean or re-grout kitchen and bathrooms. Repair dripping faucets and drains or plumbing fixtures that aren’t operating.

Fix sticking doors and replace old locks and doorknobs. Replace old bulbs and broken electrical sockets. Replace cracked windows and torn screens. Repair broken fencing and reseal the deck. Clean up stains on the tiles and counter tops.

Some experts also recommend hiring a certified home inspector to thoroughly and impartially evaluate the property. (For a list of inspectors in your area, visit the American Society of Home Inspectors website, www.ashi.com, or ask your real estate professional for recommendations.) A standard report will review the condition of the home’s heating system, central air conditioning, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure.

If there are recommendations for improvement, consult with your real estate professional in prioritizing the list of repairs.

Depending on your goals and budget, you may want to repair only items that could cause significant deterioration to the home, such as a leak. In addition, your local market conditions may dictate how extensive your repairs need to be. Let your budget and your real estate professional guide you.

However, be careful about major repairs. Sellers rarely recoup money on major remodeling projects, and you may want to save funds for your new home.

A home in good condition demonstrates pride of ownership. Taking the time to make small repairs to your home can go a long way in making sure that your home is presented to potential buyers in its best possible light. They also just might make the sale.

Prudential Olympia, REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Making a Successful Move with Your Pet

When making your moving plans, don’t forget to include your beloved pets. Although they present a new set of challenges, it doesn’t have to add to your stress if you take the following steps before your big move.

Visit the vet
Schedule a pre-move visit with your veterinarian for a checkup and to make sure that all vaccinations are current. Use this time to get copies of your pet’s records, a recommendation for a veterinarian in your new location, and possibly a tranquilizer to give your pet during transportation.

Research laws in new area
Research the requirements regarding animals in your new locality. Nearly every state has laws regarding entry of dogs, cats, horses, birds and other pets. For example, most states require interstate health certificates for dogs and horses coming from another state.

If you own an exotic animal such as a ferret or potbellied pig, check to see if it is allowed as a pet in your new city. Some states require an entry permit. You can obtain compliance information from the state veterinarian or other appropriate authority. It’s important to get this information well ahead of your move so that you can get any necessary examinations or documents.

Make sure your pet’s identity and rabies tags are current. You should also have a special travel identification tag just in case they become lost during the move. The tag should include the pet’s name, your name and new address, and an alternate contact.

Decide on transportation mode
Decide how you will be transporting your pet. Animals are not allowed on moving vans, so your choices are by car or air.

By car
If traveling by car, the American Animal Hospital Association suggests that you take your pet on short rides before the trip so that he can get accustomed to the movement. The day of the trip, don’t feed your pet for several hours before departure. It’s also a good idea to take him on a long walk before heading out.

Pack a travel kit to include food, food and water dishes, can opener, scooper, paper towels for clean ups, and plastic bags. You may also want to include a blanket to cover your car seats, plus treats and a favorite toy. If you are traveling with birds or other small pets, such as a hamster, make sure they are in a stable cage with proper ventilation. A kennel for cat or dog may also be a good idea.

If your trip will require an overnight stay, find out well in advance of your trip whether pets are allowed at the lodging of your choice. The website www.petswelcome.com is a great place to search for lodging that accommodates pets.

By air
Traveling by air definitely requires preplanning. Each airline has its own policy regarding pet transportation. In addition, there are federal requirements you must follow. For example, dogs and cats must be at least eight weeks old and weaned for at least five days. In addition, cages and containers must meet certain standards.

You need to decide if your pet will accompany you in the cabin or be checked as baggage, or shipped separately by air freight. Check with your airline to make sure that pets are allowed to travel in the cabin and obtain guidelines. The U.S. Federal Animal Welfare Act requires that pets traveling in the passenger cabin be in a carrier that can fit underneath the seat without blocking the main aisle. The container must remain stowed the entire flight.

If your pet will be transported as baggage or by freight, make shipping arrangements as far in advance as possible so that space can be reserved. It is recommended that you schedule a non-stop flight on a weekday. You also need to supply the air carrier written instructions for food and water.

Other precautions to take when transporting your pet by air include:

• Before traveling, get your pet accustomed to the kennel in which it will be shipped.
• Don’t give your pet solid food six hours prior to the flight. Providing water a few hours before the flight is advisable.
• Write your contact information on the container and make sure your pet is wearing a tag with the same information.

The Federal Aviation Administration (www.faa.gov) and Department of Transportation’s (airconsumer.ost.dot.gov) websites have valuable information regarding traveling with pets.

Transitioning to new home
Once you are in your new home there are some things you can do to help ease the transition for your pet. If you have a dog, take him for a walk immediately so that he can become familiar with the new area. Cats, on the other hand, have a tendency to run away searching for their old home. They should be kept indoors for several weeks until they become comfortable in the new home and familiar with its scents and noises.

Veterinarians also advise that you bring water from your old home, because a change in water sources can sometimes cause your pet to become sick.

Like humans, pets are can become stressed when change occurs. By planning ahead, you can help to make sure your pet has a smooth transition to its new environment.

Prudential Olympia, REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Foreclosures have many seeing red...

Well, at least we're not dark red here in Washington State... or in Thurston County.

Click either image for the foreclosure report details.

Is it possible to "green" a McMansion?

Green building is the buzz these days, from renewable-material flooring to super insulation to solar panels. But is green consumption really better for the environment?

Writing in High Country News, Monique Cole uses a case study of a 6,500 square foot home to question the application of earth-friendly techniques to "humungalows."

...how can size not matter when it comes to green building? The resources required to build and furnish a larger home need to be factored in, as well as the fuel expended and pollution created to transport those resources to the site. Big homes like the Abramsons' often are built far from urban centers. The rulers of these prairie castles must therefore burn fuel to get to work or an airport. Bigger homes also require more upkeep -- think of the landscapers, housekeepers, window cleaners and dog walkers who have to commute to service the home and its occupants. Adding solar panels and cork floors to one of these mansions is a nice touch, but is this going green, or is it green-washing?

The article is worth reading, the author torn between criticizing supersized homes and praising the instinct to build green.

... a small part of me feels bad about criticizing people like the Abramsons. They are, after all, helping to advance the sustainable building movement by paying an 8-to-15 percent premium to make their mansions greener. As in the case of organic foods, as green building materials become commonplace, prices will come down, and the rest of us will be able to afford them.

Still, if they're striving to be the "greenest," I can't understand why the Abramsons couldn't make do with a more modest house, say 3,500 square feet. That would still be twice the size of the median home in America 35 years ago.

I think that the "green" McMansion symbolizes what's wrong with how Americans have faced climate change and resource devastation. Everyone's looking for the silver bullets that will allow us to carry on our consumptive lifestyles just as we always have. But to be truly green, some sacrifices have to be made, such as giving up the home theater or that fourth bay in the garage.

complete article here

That Big "Vacancy" Sign

It's a welcome thing if you're traveling a lonely highway late at night, eyelids drifting south. But the kind of vacancies corporate and residential landlords are facing as the economy slows to a crawl are less welcome.

US Census Bureau statistics show that 1 in every 35 homes in the US stands vacant, the highest recorded vacancy rate in history. The rental market is fairly strong, but Americans still seem reluctant to buy new homes in the continuing economic fallout of the mortgage loan crisis.

Commercial real estate faces a similar situation. New London, Connecticut, is facing a one-third vacancy rate among downtown storefronts (source: theday.com). Nationally, the suburban office vacancy rate is around 14 percent, which makes the 11 percent vacancy rate here in the Puget Sound region (source: thenewstribune.com) sound pretty rosy.

Deepening Deluge of Real Estate Resources

We still recommend going with a real estate professional when it comes time to buy or sell a home, but if you're just probing the market or curious about the value of your home or others in your neighborhood, you've got an increasing number of online resources at your disposal. Just bear in mind that none of these have the complete information available from your local Multiple Listing Service, which your real estate professional can tap into for you.

For comparison, we checked listings in the popular West Olympia zip code of 98502. The local MLS shows 432 current home listings.

Roost (www.roost.com) show 376 listings in the same area; Trulia (www.trulia.com) lists 322 homes; Zillow (www.zillow.com) lists 434 homes -- which sounds impressive until you realize that their search criteria somehow included homes as far away as Shelton, WA; and Redfin (www.redfin.com) reports more than 500 results in a search for homes in the 98502 zip code. We're still puzzling over that number.

Obviously, you need to take these numbers with a grain of salt. As you do with home value estimates from Zillow or Eppraisal (www.eppraisal.com), which can vary by many thousands of dollars. So we'll stick with our advice to use these resources for rough research, then contact a real estate professional when it's time to proceed with a purchase or sale.