How To Buy When You Already Own
Do you own your home or condo but want to sell it and buy something with more space, a different location, or perhaps a view?
One option is to take out a HELOC. A Home Equity Line of Credit (ask me for a lender with great programs of these right now) lets you take out a certain percentage of your home’s equity to use as a downpayment on your new home. To find out how much equity you have, contact a Realtor, like myself, to research the value of your home (it changes ALL the time). If you have a certain percentage of equity, you can qualify for a new loan. And if you’re preapproved for your new home loan, I can get the home you want to sell prepped for the market pronto!
Another option is a bridge loan. A bridge loan has some ramifications though. They generally tend to have higher interest rates and need to be paid back in a specified amount of time. It’s like a short term loan on your current property to buy a different property. It’s all about timing with a bridge loan. You can find out more about bridge loans HERE.
You can always make an offer contingent on your home selling. This is perhaps the option offering the least amount of risk. Of course with our current market today, properties are moving fast and a contingent offer isn’t as clean as an offer with a definitive close date, for example. But if are you a homeowner considering the contingent offer option, consider the right list price and a home in tip-top shape, it won’t take long to sell.
molly a. cartwright | seattle realtor
cooper jacobs real estate, llc
“Serving home buyers and sellers in Seattle’s most popular neighborhoods”
Do you ever wonder how this real estate stuff works when you buy or sell a home? Who pays who in a real estate transaction?
Over the years, I’ve had plenty of buyers ask me how much my realtor fees are if we work together. Likewise, I’ve had sellers shocked to find out what they have to pay for excise tax in our city. A seller’s net proceeds or a buyer’s closing cost worksheet are always in my back pocket to get down to an approximate number. Traditionally the commission percentage (which can vary) come from the seller’s wallet (sorry guys)…but that’s not to say there can be different scenarios.
So why am I a buyer’s agent? First of all, I absolutely love working with buyers! And secondly I LOVE looking at homes. I listen very carefully my clients. First we have to get through the NEEDS and then we talk about the WANTS. I love the satisfaction of walking into a home with my clients and they instantly fall in love with it. But more times than not, there are compromises so I’m all about letting my clients know what their options are. The permit process, the cost of remodeling, the little tweaks you can do here and there. It’s all so much fun to me and I can see the client getting excited as we proceed down the road.
The road is an exciting one too. I can probably explain the transaction process of buying or selling a home about 100 different ways depending on the client (unfortunately not in a 100 different languages because that would be really cool). Sometimes it’s a new home buyer, sometimes its an investor, and sometimes it’s a buy up or a buy down . I talk to the buyer about terms, the market, escrow, inspection, appraisal, the 21 page purchase and sale contract and specifically what to expect and what not to expect. It’s great! The anticipation of presenting a killer offer to the seller is my favorite. Are you interested in talking to me as a buyer’s agent? I’d be happy to talk to you too!
I HEART Green Lake (my ‘hood), Tangletown, Wallingford, Phinney, Ravenna and Ballard. Got car. Will travel.
molly a. cartwright | seattle realtor since 2001
cooper jacobs real estate, llc
206.841.6800 | cooperjacobs.com | greenlakeloop.com
“Serving home buyers and sellers in Seattle’s most popular neighborhoods”
Fabulous new price for a one of a kind Green Lake home. Meticulous finishing work, ample two car garage, and a gorgeous great room. Plus an extra master suite perfect for the nanny, out of town guests, or a teenagers getaway!
You don’t want to miss this wonderful home at this wonderful price! $874,950 / 4 beds / 4.25 baths / 3600 sq ft
8552 Densmore Ave North
Saturday April 2nd 1-4p
The other 737 is taking flight. 737 North 81rst Street that is. If you love period style homes of the 1900′s (which would be the vast majority of Green Lake and other North Seattle neighborhoods), then you definitely don’t want to miss this beautifully remodeled 1910 4 bedroom/2.5 bath.
737 North 81rst Street
Soaring 9 foot ceilings, a stone tiled gas fireplace marks the centerpiece between the formal dining room and the great room. Just off to the side is the perfect resource room for the teenagers or a delightful kid’s craft corner area, complete with substantial built ins.
Cooking and entertaining have never been so easy with this wonderfully open floorplan. Warm hues of the Richlite countertops blend with the natural stone tile of the kitchen floor and backsplash. Cabinet storage is plentiful and mark the tasteful design of this gourmet kitchen.
This beautiful home is truly turn key ready. Mature landscaped gardens, completely fenced private yard, and off street parking make it easy to walk just steps to your front door. All updated electrical, plumbing, and a newer roof, this home has been meticulously cared for and rated one of the best neighborhoods to live in Seattle!
737 North 81st Street
737 North 81rst Street
Daniel Bagley Elementary is just down the street and has one of the best reputations in the Seattle Public Schools. It even has a waiting list! But with the new boundries, 737 is your primary elementary school.
Contact us to show you this one of a kind home!
Looking to buy some Tangletown Real Estate? Is it a wise purchase? What kind of neighborhood life is Tangletown? What about the schools?
Geographically, Tangletown is nestled between south Green Lake and north Wallingford. Living here you can still take advantage of Green Lake’s paddle boats and basketball courts while walking to Wallingford for a glass of wine and live music. But Tangletown has its own main drag (North 56th Street) you don’t want to miss! Get an updo at Beehive Salon then walk across the street to grab one of many hotdog selections at Diggity Dog Hot Dog & Sausage stand and wash it down with a brew at the local Elysian Brewing Company ~ just kiddy corner from Might O Donuts.
Tangletown is probably most proud of Zoka. Zoka is a super cool cafe which roasts its own coffee beans, has delicious pastries and lot of seating for those important meetings with your wedding planner or hunkering down to write that mid term paper for school.
Because of the quaint parameters of Tangletown‘s borders, it has seen average solds for the last six months. 13 solds to be exact. $214,000 buys you a 500 square foot studio or an expansive $1,280,000 beautiful home with over 3,000 square feet of living space. So the average days on the market are only 24 days from these sold properties and the average price is around $564,000. This is just under the FHA loan limit of $567,500. Believe me, a minimum downpayment of 3.0% is worth buying a home in Tangletown.
The schools are amazing! Let’s start with daycare and pre-kindergarden. Green Lake Day Care and Preschool, managed by Anne Kelly, is a safe place you can trust. Located at 63rd and Green Lake, it has three separate rooms for the Poohbears, Piglets, and Tiggers in a huge brick church. My daugther went there from 1 year old as a Poohbear and graduated at age 5 as a Tigger. She’s seven now and STILL talks about her teachers from Green Lake Day Care and Preschool.
The Elementary school will be McDonald in 2012 after a complete facelift but for now, it’s Lincoln Elementary. Middle School is going to be Hamilton, and Roosevelt for high school. I recommend going to the Seattle Public Schools Website for more detailed information.
Tangletown has some charming homes on the market right now! There are 10 single family homes and 1 condo for sale in Tangletown. Find more at Cooper Jacobs Real Estate.
Seattle reached 69 degrees today. Translation: Hookey-time. You’d think it was Orange County or something. Dozens of Seattlelites streamed to Seattle’s ever popular Green Lake neighborhood on foot, bike, car, and Vespas to take in the warm temps today. Duke’s Chowder House, sitting right atop the crowded north end of the lake, was busy serving bloody marys and fish and chips all day on their outdoor patio.
I, too, was one of the many who bravely wore shorts and flip flops but not before slathering on SPF 30.
Summer officially begins on June 21rst but days like these in Seattle makes you appreciate the natural beauty encompassing us all the time. It just takes a sunny day with no rain to really see it sometimes.
Green Lake is not the only neighborhood flooding with folks getting a workout while getting a tan. But I have to tell you, it’s the best people watching you’ll ever see. Roller skaters (yes skaters) practice their routines (or whatever you call them) near the community center. Boombox playing with 80′s tunes of course. Inline skaters, stroller-city, dog walking galore, volleyball games, pick up basketball, fishermen trying to hook, line, and sink it….oh the list goes on.
Experiencing Green Lake makes you stay in Green Lake. 78 active Green Lake real estate mls listings (not including Green Lake condos and towhomes) right now. Green Lake is one of the best communities in Seattle with great schools, friendly baristas, beautiful Northwest scenery, the local bathhouse theater, and one of a kind century old craftsman homes to townhomes that make you feel as though you were in Whistler. Let us know if you want to see any Green Lake homes for sale or want more info about this Seattle neighborhood!
Green Lake Real Estate Home Values: April 2010. Green Lake real estate has never been so affordable! It’s Spring! And it’s tax credit season – well at least by April 30th.
Let’s take a look at the current Green Lake real estate market for single family residences (no Green Lake condos or Green Lake townhouses). There are 59 active Green Lake MLS listings, 13 pending homes, and 10 sold homes in the month of April. 8 out of 10 Green Lake homes sold did so in less than a month. The other 2 were multi million dollar homes and they took 120 days.
Average sold price in Green Lake right now for April 2010 is $343,333 for a two bedroom. $501,650 for a 3 bedroom, surprisingly lower for a 4 bedroom at $437,000 and finally for 5 bedrooms and up it’s on average $800,000 and up.
Of course there are many reasons to make Green Lake your next home.
There’s the 2.8 mile paved loop on the inside or the 3.2 mile dirt loop on the outside of the lake’s parameters. Turn Pike Pizza is amazing and one of a kind, even though the name sounds too familiar. Super Jock and Jill sports apparel and #1 running shoe retailer of all time. SPUD Fish n Chips – they must have grandfather rights cause this place has been a staple of Green Lake since 1940 and it’s considered a historical sight. Okay, so if that’s not a reason to live in Green Lake then…
Maybe you’ll enjoy Mockingbird Books next to Rosita’s: the all-time favorite kids place to eat while Mom or Dad suck down a margarita. And those all those who wondered if there was a popular bar in this 35′s something 2.5 kid neighborhood…yes! You can’t miss the nightlife (which begins at 2pm) at the Little Red Hen! So you see, Green Lake has both major franchises like Starbizzle and Title Nine Sports. But it also has Urban Cafe (where you get a FREE coffe with cake or pie!) and Skinlogic.
I live and breathe Green Lake. Why? Because for me, it’s safe, affordable, awesome location, great schools, and I can run 2.8 miles and grab a Zeeks Pizza and Ben & Jerry’s Ice Cream right after.
Interested in knowing more about Green Lake? Living in Green Lake since 1996. Molly@CooperJacobs.com
Seattle’s Green Lake Neighborhood is having a bit of a real estate shortage in my opinion. I have great buyers wanting to get into homes that are nicely updated on the North End of the Green Lake and right now there is only really one choice.
Seattle Buyers like choices and Green Lake is a great one! I know of a couple Green Lake homes coming on soon hopefully, but that doesn’t help right now so I keep looking. Why do my buyers like the North end of Green Lake in particular? Zeeks Pizza? Well maybe, but it is also just the perfect spot for being close to all thie nice little shops and places like Zeek’s and Ben & Jerry’s, the pool, tennis courts, wading pool, and easy access to the great Green Lake loop!
What better spot to live and enjoy all that Green Lake has to offer and still have easy access to I-5 for commuting plus great neighborhoods like Phinney Ridge and Greenwood right there!
Green Lake homes: There are only a few homes right in that sweet spot South of 80th and North of E Green Lake Dr N – right around my favorite street in Seattle: Orin Court. This little corner of Green Lake catches the best light and offers amazing perks in my opinion! Check it out here: Green Lake real estate You can also find other great information about Seattle real estate – happy hunting!