Floor Plan: Homes with 3+ Bedrooms & 2+ Bathrooms build equity the fastest, no matter what the size! Houses with 1 Full Bath and 1 Half Bath (Toilet & Sink, No Shower/Tub) also appreciate faster than homes with only 1 Full Bathroom.
Heating Systems: Homes with central heat (Gas Forced-Air or Heat Pump) are more efficient AND more valuable. Homes with Oil Forced-Air heat are fairly efficient too and are much cheaper (relatively) to upgrade to Gas Forced-Air or a Heat Pump than other older forms of systems.
Windows: Homes built in 1994+ will have vinyl windows. Anything built before that with vinyl windows was either an option or has since been upgraded to better, vinyl, windows.
Lead-Based Paint: Homes built after 1978 will NOT have any chance of having lead-based paint on the exterior of the house. Anything built prior to 1978 could have lead-based paint but hopefully previously fixed by the owner.
Old Homes: Homes built in the 1930’s or before should have their Electrical and/or Plumbing systems checked out. More times than not homes built from these eras have already upgraded these two systems but not always.
Obviously, there are a lot more variables, facets, and concerns when it comes to finding the right house but these short tips are a very good place to start!
For more information or if you have any questions, contact me.
Kevin Schubel
RE/MAX equity group, inc
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
Thursday, December 18, 2008
Wednesday, November 26, 2008
November Newsletter
Work Life
That’s right, I’m still in the real estate business! How you ask? Well, we just keep finding people interested in taking advantage of the current market. Just last month I was able to help some first time buyers find a BRAND NEW home and all they spent out of their pocket was $253! Were they excited? Yes would be an understatement.
Since my last edition, much has changed around the office. With the market still slow and agents dropping like flies we’ve merged our Salmon Creek Remax office and our office here at the Vancouver Mall branch. It’s been a good thing so far, having more agents around the office gives off the feeling of people being busy. Whether we all are or not is yet to be seen. Another positive about the merger is that those that are still left in this business are, for the most part, the successful ones. Trust me, still being the “new kid“ and being surrounded by even more good agents has been very beneficial for me. All the “new” agents have been very generous and eager to share their knowledge and experience.
I’ve started two new ways to market/advertise/keep in touch with those of you interested in the Clark County real estate market or just me in general. The first is on YouTube.com. It was an easy decision, take videos of property we have for sale and put them on one of the highest visited sites on the internet. Man, this real estate stuff is hard! If you would like to see our videos go to
Www.Youtube.com/user/kevinschubelDOTcom (**Disclaimer: unfortunately my degree isn’t in video production so don’t be expecting too much with the quality**)
Another wave I’ve decided to jump on is the BLOG. This is a better way for you to keep up on new listings, trends, deals, financing tips, etc. I will try and post something once a week or so. So, if my newsletter isn’t enough for you every 3-4 months, subscribe to my blog and you will be emailed every time I write something new. You can find my new blog at www.KevinSchubel.BlogSpot.com
Our office is also adopting a family, or two, again this holiday season. If you would like to know how you can help out feel free to contact me.
What's New With Kevin?
Many of you know the biggest news since my last newsletter because many of you were there, Scott & Stacey got married! What a wonderful night it was. I am also glad to report that the newlyweds had a great time on their honeymoon in St Maarten. There was a lot of lounging on the beach and A LOT of catching up on sleep since neither of them did much in the short weeks leading to the big night.
For those of you unable to attend the wedding, you’ll be happy to know I didn’t make a fool out of myself for the big Best Man/Brother speech. Drinking was kept to a minimum and I was reminded all night by “loving” friends and family to not ramble on for too long; a family trait from both sides.
A week prior to the wedding I was also fortunate enough to hike to the top of Mt St Helens. Some old time friends, Danny & Marta Fay, were in from Utah and invited another friend, Lacey, and me to tag along. I found out quickly that running a couple times a week was no match for the shape I should have been in! The marathon running, weekly hiking, living at altitude tag team of Danny and Marta made me feel like a fat couch potato. However, through all of my pain and complaining I made it to the top and I’m glad I did.
The only other news I can think of to report is that I had my kitchen remodeled. Out with the old multi-shade reddish/orange-ish cabinets and baby blue Formica counter tops and in with new white cabinets and gray granite tile. What a difference!
Market
Special Guest Writer, DAD!!!
Good Market – Bad Market
Hard to believe anyone would call this a good market now that 20% - 30% of the home sales are REO (foreclosure properties) and seller Short Sales (sellers selling for less than debt owed)! This makes getting market value for your current home very difficult to do. But if you’re choosing to step up into a larger home or a home on acreage there couldn’t be a better time. If your current home won’t sell at market value, the new home you’re purchasing will probably be discounted significantly more than what your leaving behind. Even the people who have begun thinking of their first investment rental home can make fantastic purchases right now. If you’re thinking is to save the money for a future college fund or retirement, real estate is still the safest investment. Let a renter help provide you a write off today and appreciation for tomorrow. When you realize that your real estate investment is appreciating times the total value of its net worth and not the actual investment capital that you used for down payment, the interest rate actually earned is quite high. I’ve yet to get any tax relief or write off on any of the stocks I’m currently holding. It’s not uncommon for a 3 bedroom two bath house to be selling significantly under the $200,000 price range right now where’s as two years ago this product was not available at this price plus along with being driven up by multiple competing offers and absorbent closing costs on buyers loans.
So with the Market loaded with vacant homes in all price categories offering significant price reductions and the inventory at an all time high, there’s a great selection for a good solid real estate investment opportunity. I know the next question is financing. The news is filled with how hard it is to get a loan right now. Actually that is only partially true. If you have good credit and some down payment most of the original loans are still available. 3% down FHA with seller paying closing costs has been an excellent loan since I’ve been in real estate (29 years). Non owner occupied loans are a little more costly needing 20% down but these funds can come from a existing home equity line or the sale of that good ole stock portfolio. Owner occupied rates are still under 5.625% with non owner properties running slightly higher at .5% add or 6 ¼ today. Wow what rates! In 1981-1985 the rates were consistently above 16%! Ask me because I was there!
So what got us here and what’s going to get Clark County economy moving again. The end of 0 down, non qualifying, unprotected loans with high closing costs that made the lenders a huge amount of profit but left the Banks and Governmental Agencies that purchased these loans on the hook for huge amounts of non qualified buyers that are now forfeiting on their loans. Wow what an interesting concept, down payment and the need too qualify for the loan you’re receiving. Low down payment loans really do need Private Mortgage Insurance! Now that we’re seeing the return of investors and landlords buying homes in this market the bottom normally is within site. Rents seem to be higher than normal and vacancies are low. Even I have purchased a rental in the last 30 days! I heard a quote the other day that more millionaires are made in a down market than an up market. I truly believe in this and in Clark County real estate. As the vacant and foreclosed properties are absorbed back into the market place and with the current lack of new construction starts there will be more pressure on existing property which as usual will start the appreciation back up. I’m projecting a jump in the first year or two since housing is below cost right now. I’m happy that my retirement is not totally effected right now since my rental units just keep paying off every month. I wish I could say that about my 401K program!
So my comment would be “buy if you can”. If your job is solid and your credit cards are within reason please look at buying up or making your first investment. Take advantage of the current market conditions. I glad that through the years I did! So call the second best agent in town and ask questions, Kevin Schubel 360-936-7277.
Kevin Schubel
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
That’s right, I’m still in the real estate business! How you ask? Well, we just keep finding people interested in taking advantage of the current market. Just last month I was able to help some first time buyers find a BRAND NEW home and all they spent out of their pocket was $253! Were they excited? Yes would be an understatement.
Since my last edition, much has changed around the office. With the market still slow and agents dropping like flies we’ve merged our Salmon Creek Remax office and our office here at the Vancouver Mall branch. It’s been a good thing so far, having more agents around the office gives off the feeling of people being busy. Whether we all are or not is yet to be seen. Another positive about the merger is that those that are still left in this business are, for the most part, the successful ones. Trust me, still being the “new kid“ and being surrounded by even more good agents has been very beneficial for me. All the “new” agents have been very generous and eager to share their knowledge and experience.
I’ve started two new ways to market/advertise/keep in touch with those of you interested in the Clark County real estate market or just me in general. The first is on YouTube.com. It was an easy decision, take videos of property we have for sale and put them on one of the highest visited sites on the internet. Man, this real estate stuff is hard! If you would like to see our videos go to
Www.Youtube.com/user/kevinschubelDOTcom (**Disclaimer: unfortunately my degree isn’t in video production so don’t be expecting too much with the quality**)
Another wave I’ve decided to jump on is the BLOG. This is a better way for you to keep up on new listings, trends, deals, financing tips, etc. I will try and post something once a week or so. So, if my newsletter isn’t enough for you every 3-4 months, subscribe to my blog and you will be emailed every time I write something new. You can find my new blog at www.KevinSchubel.BlogSpot.com
Our office is also adopting a family, or two, again this holiday season. If you would like to know how you can help out feel free to contact me.
What's New With Kevin?
Many of you know the biggest news since my last newsletter because many of you were there, Scott & Stacey got married! What a wonderful night it was. I am also glad to report that the newlyweds had a great time on their honeymoon in St Maarten. There was a lot of lounging on the beach and A LOT of catching up on sleep since neither of them did much in the short weeks leading to the big night.
For those of you unable to attend the wedding, you’ll be happy to know I didn’t make a fool out of myself for the big Best Man/Brother speech. Drinking was kept to a minimum and I was reminded all night by “loving” friends and family to not ramble on for too long; a family trait from both sides.
A week prior to the wedding I was also fortunate enough to hike to the top of Mt St Helens. Some old time friends, Danny & Marta Fay, were in from Utah and invited another friend, Lacey, and me to tag along. I found out quickly that running a couple times a week was no match for the shape I should have been in! The marathon running, weekly hiking, living at altitude tag team of Danny and Marta made me feel like a fat couch potato. However, through all of my pain and complaining I made it to the top and I’m glad I did.
The only other news I can think of to report is that I had my kitchen remodeled. Out with the old multi-shade reddish/orange-ish cabinets and baby blue Formica counter tops and in with new white cabinets and gray granite tile. What a difference!
Market
Special Guest Writer, DAD!!!
Good Market – Bad Market
Hard to believe anyone would call this a good market now that 20% - 30% of the home sales are REO (foreclosure properties) and seller Short Sales (sellers selling for less than debt owed)! This makes getting market value for your current home very difficult to do. But if you’re choosing to step up into a larger home or a home on acreage there couldn’t be a better time. If your current home won’t sell at market value, the new home you’re purchasing will probably be discounted significantly more than what your leaving behind. Even the people who have begun thinking of their first investment rental home can make fantastic purchases right now. If you’re thinking is to save the money for a future college fund or retirement, real estate is still the safest investment. Let a renter help provide you a write off today and appreciation for tomorrow. When you realize that your real estate investment is appreciating times the total value of its net worth and not the actual investment capital that you used for down payment, the interest rate actually earned is quite high. I’ve yet to get any tax relief or write off on any of the stocks I’m currently holding. It’s not uncommon for a 3 bedroom two bath house to be selling significantly under the $200,000 price range right now where’s as two years ago this product was not available at this price plus along with being driven up by multiple competing offers and absorbent closing costs on buyers loans.
So with the Market loaded with vacant homes in all price categories offering significant price reductions and the inventory at an all time high, there’s a great selection for a good solid real estate investment opportunity. I know the next question is financing. The news is filled with how hard it is to get a loan right now. Actually that is only partially true. If you have good credit and some down payment most of the original loans are still available. 3% down FHA with seller paying closing costs has been an excellent loan since I’ve been in real estate (29 years). Non owner occupied loans are a little more costly needing 20% down but these funds can come from a existing home equity line or the sale of that good ole stock portfolio. Owner occupied rates are still under 5.625% with non owner properties running slightly higher at .5% add or 6 ¼ today. Wow what rates! In 1981-1985 the rates were consistently above 16%! Ask me because I was there!
So what got us here and what’s going to get Clark County economy moving again. The end of 0 down, non qualifying, unprotected loans with high closing costs that made the lenders a huge amount of profit but left the Banks and Governmental Agencies that purchased these loans on the hook for huge amounts of non qualified buyers that are now forfeiting on their loans. Wow what an interesting concept, down payment and the need too qualify for the loan you’re receiving. Low down payment loans really do need Private Mortgage Insurance! Now that we’re seeing the return of investors and landlords buying homes in this market the bottom normally is within site. Rents seem to be higher than normal and vacancies are low. Even I have purchased a rental in the last 30 days! I heard a quote the other day that more millionaires are made in a down market than an up market. I truly believe in this and in Clark County real estate. As the vacant and foreclosed properties are absorbed back into the market place and with the current lack of new construction starts there will be more pressure on existing property which as usual will start the appreciation back up. I’m projecting a jump in the first year or two since housing is below cost right now. I’m happy that my retirement is not totally effected right now since my rental units just keep paying off every month. I wish I could say that about my 401K program!
So my comment would be “buy if you can”. If your job is solid and your credit cards are within reason please look at buying up or making your first investment. Take advantage of the current market conditions. I glad that through the years I did! So call the second best agent in town and ask questions, Kevin Schubel 360-936-7277.
Kevin Schubel
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
Monday, November 17, 2008
A BOOMing Market!
Beauty is in the eye of the beholder. With the foreclosure market surging, buyers have been reaping the rewards in Clark County!
Right now, I can't motivate my first time buyers enough. It is not 2005 but it is prime time for those that have never purchased a home to get in cheap and start with some equity! With 100% financing programs and sellers contributing to buyers closing costs it's possible to buy a house for $253 out of pocket. No Joke! I have some very happy buyers that just did this!
I've noticed many Realtors acting down in the dumps and gloomy about the current market situation but I am enjoying it. Yes, having listings right now can be a little nerve racking but buying clients are golden! Stay positive and confident!
Kevin Schubel
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
Right now, I can't motivate my first time buyers enough. It is not 2005 but it is prime time for those that have never purchased a home to get in cheap and start with some equity! With 100% financing programs and sellers contributing to buyers closing costs it's possible to buy a house for $253 out of pocket. No Joke! I have some very happy buyers that just did this!
I've noticed many Realtors acting down in the dumps and gloomy about the current market situation but I am enjoying it. Yes, having listings right now can be a little nerve racking but buying clients are golden! Stay positive and confident!
Kevin Schubel
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
Thursday, November 13, 2008
Loosen Restrictions, Shrink Inventory
With all of us wishing for SO MANY things in real estate during this down market in real estate, I've found my one wish...
I would like the lending industry to loosen up on its non-owner occupied loans. Currently, there are no options for less than 20% down. I would like lenders to go back to offering 5-10% down programs for "investor money." Why? If a buyer is planning on using the investment property as a rental they are probably going to have an easy time covering their mortgage, even without 20% down. Real estate values have been declining but rents have been staying steady, if not rising! On top of that, the rental market is going to be strong for many years to come with so many home owners going through Short Sales and Foreclosures taking big credit hits.
Investors buying more real estate will benefit everyone (at least in our industry). Agents will sell more houses, lenders will process more loans, title companies will have more closings, etc...Everybody wins! Instead of an investor buying one rental, with the same amount of money they could buy 2 or 3. The inventory would shrink faster which will probably bring our market and the entire economy back faster!
I won't hold my breath but I'll keep my fingers crossed.
Thanks,
Kevin
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
I would like the lending industry to loosen up on its non-owner occupied loans. Currently, there are no options for less than 20% down. I would like lenders to go back to offering 5-10% down programs for "investor money." Why? If a buyer is planning on using the investment property as a rental they are probably going to have an easy time covering their mortgage, even without 20% down. Real estate values have been declining but rents have been staying steady, if not rising! On top of that, the rental market is going to be strong for many years to come with so many home owners going through Short Sales and Foreclosures taking big credit hits.
Investors buying more real estate will benefit everyone (at least in our industry). Agents will sell more houses, lenders will process more loans, title companies will have more closings, etc...Everybody wins! Instead of an investor buying one rental, with the same amount of money they could buy 2 or 3. The inventory would shrink faster which will probably bring our market and the entire economy back faster!
I won't hold my breath but I'll keep my fingers crossed.
Thanks,
Kevin
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
Tuesday, November 11, 2008
OUR LISTINGS! Videos!
Kevin Schubel
RE/MAX equity group
360.936.7277
Kevin.Schubel@gmail.com
KevinSchubel.com
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