To find out the value of your home with a Free Market Analysis, call me directly at 206.799.3414 or go to House Values.

If you are considering purchasing, take advantage of my Home Search tool for direct access to all the currently “Active Listings” on the Multiple Listing Service.  Also, don’t hesitate to call me directly at 206.799.3414 or go to Property Watch for ”New Listing” email notifications.

Mike Rozell ~ Realtor
First-Class Service | First-Class Results
www.RozellRealEstate.com

The Housing and Economic Recovery Act of 2008 passed into law this week.  Read this great article about some of the law’s highlights and how it can affect you as a homebuyer, home seller and homeowner: With The New Housing Law, The $250,000/$500,000 Capital Gains Exclusion Is Gone  -TheMortgageReports.com

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

Here is a great post I came accross that all Bellevue, Renton, Kirkland and Seattle area home buyers and investors should read. 

“Over the past three months, my clients and I have presented nine contracts to pre-foreclosure, REO and short sale sellers. Out of those nine contracts, nine have been beat by better offers. In the Northern Seattle area there currently very few REO properties, and in terms of real short sales, I have seen under 10 that are decent over the past month. I wish I had the finesse to illustrate the how important it is to negotiate a Win/Win offer. I can simply say writing a contract for bottom dollars in the hope of catching a whale is only going to bring up a boot. The Seattle market is not what you see on the news, hear on the radio, or read in the paper in terms of the rest of the nation’s foreclosure woes. The money in this town has just shifted from buying retail to buying wholesale, and there are a lot of hungry wallets burning holes for positive equity investments.

Here are some things to keep in mind when investing in the Seattle market:

1. Land is an extremely limited resource in this city. Seattle did not experience the “Å“urban sprawl” boom seen in so many other cities plagued with foreclosure woes.
2. The Seattle metro area has a strong economic foundation with many companies doing extraordinarily well due to international business.
3. Seattle has one of the most highly educated populations in the country.
4. Our median household income is about $72,000 annually “” among the highest in the country.
5. Because of the lack of “Å“urban sprawl” in Seattle we do not have the inventory of foreclosure homes that the rest of the country has. I say this all the time to my buyers, at auction there is a huge crowd competing over six to 10 properties. Even then these homes are being purchased at 20 percent less then market value.

So, if you want to beat the competition when it comes to an equity positive real estate investments do not think cheap, think Win/Win. It makes a transaction so much less of a nightmare, and in a few years you will have built yourself a great real estate portfolio in one of the best cities in the United States.”   Local Market Perspective: Seattle, Wash.

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

You’re thinking of investing in real estate, eh?  If you plan on turning a positive monthly cash flow on any residential real estate investment with a Seattle, Kirkland, Bellevue or Renton address, expect to put between 35% and 65% as a down payment.  Here is a great article on what to expect when financing investment property.

Financing an Investment Property 

“Obtaining a mortgage for a non-owner occupied property is much different than buying one you will reside in.  For starters, qualifying is tougher and mortgage interest rates are higher as it’s a riskier transaction for the lender.   Here are some quick tips to help get you started if you’re considering buying an investment property.

Plan on using at least 20% for your down payment plus closing costs.   With a 25 or 30% down payment, you will receive a slightly better interest rate.   Just to give you an idea, here is a sample of some current rates based on a single family dwelling with a sales price of $450,000 for a 30 year fixed mortgage and a minimum 720 credit score:”…

Continued at Financing an Investment Property -Rain City Guide, Rhonda Porter

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com

“Vacation homes are a commodity many Americans desire, but some view the cost as prohibitive in today’s floundering market. But if investors choose their vacation home’s location wisely and opt to rent out their vacation home while they aren’t using it, the property could prove to be a valuable investment. If nothing else, it may at least earn enough supplementary income to make the expense worthwhile.

When buying a vacation home, one of the most important factors to consider is location. Owning a vacation home is inherently different from simply renting a hotel room once a year. Vacation homebuyers are advised to travel to the area they are considering before making a purchase; owning a vacation home means the homeowners will likely spend a lot of vacation time there, so it’s important they enjoy the area. And when the vacation home is also an investment property, the location and surrounding market is even more important. Investors should look for an area that is not only has draw as a tourist destination, but also has a strong market with good appreciation and rent returns.”

You don’t have to go very far for some of the best places to invest in a vacation rental home.  A few of the top 10 are right here in the Northwest.  Top 10 Places to Buy Vacation Rental Homes in the U.S.

The Internal Revenue Service has handed investors and second-home owners a new gift in the form of a safety net that provides a “safe harbor” for taxpayers who wish to swap the property via a Section 1031 tax-free exchange even though they have enjoyed personal use of the property.  Read the whole article at: The IRS rule makes it easier to swap property.