Tom Tuttle's Friday Foreclosure Flyer/list includes 60 newly listed bank-owned properties!

Looking for a great deal on a home in Pierce County, Washington? Each week Tom Tuttle posts the weeks area (Tacoma, Gig Harbor and Puyallup)foreclosures. These are bank-owned homes newly listed. For further information, email http://site.tomtuttle.me/Friday's Foreclosure Flyer for Pierce County, WA (60 homes this week)

Affordable New Home Tacoma, WA $196,950

This affordable, new Tacoma home boasts a 2 car garage, 2.5 baths, open-concept kitchen, maple cabinets, stainless steel appliances and hardwood floors.

 This is a printable flyer, but please view this home's individual website at http://affordablenewhome.ucanbuyme.com/  for additional pictures and details. Please contact or Call Tom Tuttle 253-686-3992 for additional listings in the greater South Puget Sound area.
Affordable New Home Tacoma, WA $196,950

Tom Tuttle Tacoma,Washington Friday Foreclosure list flyer for download January 2010

This is one of 31 bank-owned homes listed this week in Pierce County, Washington. Located in Lakewood, WA and situated in a desirable neighborhood, this home is priced to sell! This is just one of many deals offered by numerous banks desperately trying to rid a saturation of inventory from their books.

We've all heard "now is the time to buy" repeatedly in the last couple of years, but we have finally hit bottom and 2010 looks to post an actual gain of 2.44% in the greater Tacoma area (according to Moody's economic indicators). For more information on this story you can view the blog posting from January "Good news gets little press".

So, if there ever was a time to buy, NOW is the best time with the best deals and a huge surplus of inventory. For information on any of these properties or to schedule a viewing, please contact Tom Tuttle from Tacoma at 253-686-3992. Additionally, be sure to "follow" me and tune in every Friday for the latest foreclosure list!

Tom Tuttle's Friday Foreclosure Flyer for Pierce County, WA Jan 22, 2010

Pierce County, WA Foreclosure List 1/15/2010

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Pierce County, WA Foreclosure List 1/22/2010

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Professional pictures sell your home faster, for more money!

Listing photos are so very important for so many reasons!

                                             

• 1st 90% of all homes sold are viewed first by buyers on-line. Like my mama always said, "you never get a 2nd chance to make a 1st impresssion."
• Once your house is viewed, it's on to the next. With our fast-paced society, information saturation via internet/media and the growing demands placed on families...buyers don't have the time to scour every home twice.
• Housing inventory is at a surplus level fueled by foreclosures, short sales and the overall state of the economy; creating a very competitive buyers market.

So, it is that much more important to have a real estate agent who can give you that competitive edge. One of the most important 'edges' is professional listing pictures; whether it's a true professional photographer or a true professional real estate agent who understands the value and importance coupled with the ability to showcase your property in the best light.

When interviewing an agent, you should always ask to see a portfolio of examples for past sold listings. Anyone can take a picture, but can your agent find the right perspective or angle that showcases each room or exterior photo in the best light. Speaking of light, there's nothing more important than lighting when taking a listing picture. A dark picture hides the room and its contents and turns off the buyer with a cold, unwelcoming feeling. A room with just the right light (ambient, natural and flash) can create warmth and welcoming triggering positive emotions for the would-be-buyers. A picture is as much about light as it is perspective and knowing how to 'stage' a house/picture.

So, when selling your home, make sure it is shown in the best possible light: hire a qualified realtor who understands the value, importance of professional-quality listing pictures and possesses the skills/know-how to capture the right perspective and light.
If you are looking for an agent in the Pierce County, Washington area, Tom Tuttle specializes in Tacoma real estate, Puyallup real estate and Gig Harbor real estate. 253-686-3992.

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Good news gets little press: Tacoma Housing Market #1 in the Nation

Tacoma Housing Market #1 in the Nation

Moody's forecasts 2.44% increase for 2010

How many have heard or read about this? I asked several people in my office if they had heard the news; NOT a one. The reason: good news is not really news. For months and going on years now, we have seen headline after headline grace the front page about the continued fall of real estate, mortgage and the economy in general. But, when news breaks about something good, it remains news but gets lost in the shuffle. So, where was this news lost? Today's paper, business section A8 (a small blurb). It also ran last week disguised as "Home Sales: This is good" by C.R. Roberts; mostly about the rise of pending sales in our area.

Here is an excerpt (almost all of the article) from the Tacoma News Tribune: "Moody’s Economy.com ranks Tacoma at the top of the list among 100 metropolitan areas nationwide. The firm said it expects housing prices to rise 2.44 percent in 2010 in Tacoma. That increase, though modest, compares well with Moody’s national figure, a predicted 7.9 percent decline".

How about this gracing the front page:

Tacoma Housing Market #1 in the Nation
          Moody's forecasts 2.44% increase for 2010

Now that's good news worth celebrating!

Read more: http://www.thenewstribune.com/news/local/story/1024975.html#ixzz0cQSgYHZc

To take advantage of this upswing/real estate comeback please call Tom Tuttle at 253-686-3992 or email me@tomtuttle.me . Tom specializes in the greater Pierce County Real Estate area...specifically: Tacoma real estate, Gig Harbor real estate, Puyallup real estate, Lakewood real estate, Bonney Lake real estate, Sumner real estate and Graham real estate , but not limited to.

Tacoma, Washington: #1 ranked real estate market in the nation!

...according to Moody's forecast. Below are excerpts taken  directly from http://www.smartmoney.com/ regarding a recent report by Moody's siting Tacoma and Seattle as #1 and 5 top market in the nation (respectively). Moody's is a well respected analytics group providing research findings derived from a wide variety of indicators (see list of criteria below).
Part of this story ran under title "Pending home sales up 30 percent in Pierce County last month" in the http://www.thenewstribune.com/  . I felt the headline should have been "Tacoma: #1 Real Estate Market in Nation".
Obviously, some very encouraging indicators here and elsewhere...though many people reamain cautiosly optimistic for good reason

The five areas that Moody’s foresees home prices performing best in 2010 are: Tacoma, Wash., (an increase of 2.44%); Memphis, Tenn., (up 0.99%); Pittsburgh (up 0.89%); Charleston, S.C. (up 0.18%); and Seattle (decline of 0.50%). (These five markets are culled from data on Moody’s Economy.com and based on the largest 100 metro areas.)

These pockets of the country share a few important characteristics. One is that they are starting with a limited supply of housing stock. Another is that throughout most of the decade, prices basically stayed in synch with household income, says Cochrane.

The economies of Tacoma and Seattle – which are neighboring cities – were “much stronger for much longer than much of the rest of the country,” says Cochrane. Software giant Microsoft (MSFT: 30.66, +0.21, +0.68%), based in Redmond, Wash., a Seattle suburb, was one reason the area remained stable. Another was Boeing, which builds its commercial airplanes in Seattle.

Going forward, Seattle’s position as a key hub of trans-Pacific trade should be a plus for the economy. Orders are increasing for commercial aircraft and it should see some rising demand for tech products, Cochrane says. The outlook for 2010 for the two Washington cities “is for fairly stable, moderate economic growth,” he says.

So, what criteria does Moody's use? Here is a list of indicators/data/ key indexes

Metropolitan area housing market risk rating based on the Moody's Economy.com proprietary indicators update quarterly.

• Assessment of metropolitan area supply and demand conditions.

• Indicators of excess supply (number of months of excess supply).

• Exclusive Metropolitan area house price leading indicators based on Fiserv's Case-Shiller® Home Price Indexes.

• Explicit labeling of metropolitan areas as "overpriced," "underpriced" or "balanced."

• Profiles on selected metropolitan area housing markets.

• Key housing data updated quarterly:

• Home sales

• House price appreciation

• Household formation

• Homeownership rates

• Housing affordability

• Inventories of homes for sale

• Inventories-to-sales ratio

• Speculative building index (starts of for sale but unsold single-family homes as a percent of total for sale starts)

• Median months on the market

• Builders' cost index

• Mortgage originations (purchases and refinances)

• ARM share of mortgage originations

• Cash-out refinancing activity

• Mortgage loan-to-value ratio

• Federal Reserve survey of banks' lending practices

• Mortgage delinquencies rates

Read more: 5 Markets Expected to Fare Best in 2010 at SmartMoney.com http://www.smartmoney.com/personal-finance/real-estate/5-Markets-Expected-to-Fare-Best-in-2010/#ixzz0cByet9sh


As always, if you are looking to purchase real estate in the greater Pierce County, Washington area, Tom Tuttle  "from Tacoma, WA" services the following areas: Tacoma real estate, Lakewood real estate, Gig Harbor Real estate, Puyallup real estate and surrounding areas of Pierce County real estate.

Tax Credit, Condos and More – The News Keeps Coming


On the heels of Congress moving the tax credit, there is word that FHA is going to back off some of the requirements of their new condo rules which are now delayed until early December. Congress will also take up a provision to retire the HVCC shortly as well.

Meanwhile, the Fed released their statement after meeting for two days….conditions are “likely to warrant exceptionally low levels of the federal funds rate for an extended period.” Translation: short-term rates are not going up anytime soon. And that was not the end of the good news as Congress passed not only an extension, but an expansion of the tax credit. From CNN/Money:

The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The credit was set to expire after Nov. 30th. The legislation also created a $6,500 credit for those who buy a home after owning one for the last five years. That measure would apply to contracts signed by April 30th and closed by June 30th. The bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers.

On Friday, November 6th, 2009 President Obama signed into law an extension and expansion of the home buyer tax credit. The new Tax Credit Extension goes into effect November 7th, 2009.

Which Properties are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes and co-ops.
How Much is Available?
The maximum allowable credit for first-time home buyers is $8,000 and the maximum for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by tow additional factors:

1. The price of the home.

2. The buyer’s income.

Is there a purchase price limit?

Yes, under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchase for $800,000 or less.
Is there an income limit?

Yes. Single buyers have an annual income limit of $125,000 and married buyer’s have an annual joint income limit of $225,000.

Will the tax credit have to be repaid?

No. As long as the buyer occupies the home for three or more years, the buyer does not need to repay the tax credit. However, if the home is sold prior to the 3 years, the tax credit will need to be paid back in full at the time of sale.

What are the effective dates?

The eligibility period for the tax credit is for homes purchased after Nov. 6th, 2009, and before May 1st, 2010. However, home purchases subject to a binding sales contract signed by April 30th, 2010, will qualify for the tax credit provided closing occurs prior to July 1st, 2010.

The bottom line is, with the increase in cheaper homes available due to dropping prices in the market, interest rates as low as the 4’s, the expanded homebuyer tax credit makes this the best time to buy in years!!!!! And if you're looking to buy in the greater Pierce County, Washington region , look to http://www.piercecountyhouses.com/ and Tom Tuttle specializing in Pierce County Real Estate including specific regions of Tacoma real estate, Gig Harbor real estate, University Place real estate, Puyallup real estate and South Puget Sound real estate.

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