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LE vs. GFE and CD vs. HUD-1
October 30, 2015 /This month has seen a significant change to the way mortgages are finalized. The GFE, initial TIL, and HUD-1 and final TIL forms are gone for good and, as of October 3rd, the LE (Loan Estimate) and CD (Closing Disclosure), replaced them. If you’re an average consumer, you’re probably wondering two things: What do these new forms mean? How does this change affect me? Luckily, both questions are relatively easy to answer. Below, you’ll find the basic information about what the new laws mean and how they’ll affect anyone applying for a mortgage in the future. LE and CD: the Basics Historically, lenders have been legally required to provide consumers applying for mortgage loans with two documents, the TIL and GFE, and then two more documents, another TIL and the HUD-1, shortly before finalizing a mortgage loan agreement. All of these documents communicated repetitive information using irregular language, thus sacrificing an unnecessary amount of trees to provide you with much of the same information twice. This process, as you can imagine, was a complicated one for average Americans. To streamline the process, federal law has mandated that the GFE, initial TIL, and HUD-1 and final TIL forms be replaced by two basic forms, the LE and the CD. Anyone applying…Read more
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Short Sales
October 23, 2015 /Facing a foreclosure can be scary, and it’s easy to feel trapped and helpless if you’re in danger of losing your home. Even worse, you’ll feel like you’re losing your dignity as a self-sufficient adult. However, while things may seem hopeless, it’s important to recognize that there are alternatives to foreclosures. A short sale is one of the best of these alternatives. What is a Short Sale? A short sale refers to the process of selling your home for less than the balance of your mortgage. Short sales require the approval of your mortgage company, but, if you are approved, you’ll be able to sell your home and pay off either part or all of your mortgage, depending on the results of your particular situation. What are the Benefits of a Short Sale? It goes without saying that applying for a short sale is not an ideal situation. No one wants to face foreclosure, and no one wants to part with his or her home for less than is needed to pay off a mortgage. That said, there are many benefits to short sales, and they can help you escape and recover from stressful situations. The most obvious benefit of…Read more
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The Monroe Equestrian Property
October 16, 2015 /If you’re a native of Washington State and the Puget Sound, you’ve probably got a few cherished memories from your youth: black coffee on cold winter mornings, the sound of rain pattering on the roof, crackling wood stoves, waves of mist rolling over a sea of pine trees at dusk. While such memories are wonderful, it’s likely that the myriad responsibilities of the adult world have pushed them back into the recesses of your brain. Setting foot on the Monroe Equestrian property, however, allows the once-forgotten sounds, smells, and sights of a Washington childhood to once again flood back into the present. Hidden in a lush undergrowth of pine forest, and commanding a view of five immaculate acres, the Monroe Equestrian property is the classic custom Washington home. The house’s rustic wood paneling mimics the stately trees clustered around it and, while the dense foliage creates a sense of protection and security, expansive and wandering lawns give the property plenty of breathing space. A gazebo affixed to the rear of the house overlooks the backyard, making it the perfect retreat for those fond of autumn mornings, bold coffee, and rustling newspapers. The true charm of the property, however,…Read more
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Neighborhood Profile: Bellevue, WA
October 9, 2015 /Bellevue, WA Population: 134,400 Named the #1 place to live and launch a business in America by CNNMoney in 2008, Bellevue is located just 10 miles east of Seattle. Bordered by Lake Washington and Lake Sammamish, and overlooked by the snow-capped peaks of the Olympic and Cascade mountain ranges, Bellevue is brimming with stunning natural beauty. Combine this feature with one of the best school systems in the country, buoyant business opportunities, a luxury retail and restaurant center, and a plethora of parks and recreational areas, and it’s clear that Bellevue truly is a sensational place to call home. The Bellevue School District consistently ranks as one of the top districts in Washington. The school district serves students in Bellevue and the smaller surrounding communities of Clyde Hill, Medina, Hunts Point, Yarrow Point, and Beaux Arts, plus portions of Issaquah, Kirkland, Newcastle, Redmond, and unincorporated King County. Five of Bellevue’s High Schools ranked in the top 100 in the nation by Newsweek in 2010, while their elementary and middle schools are also exceptional. Likewise, in 2015 U.S. News and World Report ranked the International School in Bellevue as the top high school in Washington and the 26th best high school in the…Read more
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Preparing Your Home For Sale
October 2, 2015 /So: you’re preparing to sell your home, and you’re unsure how to start getting everything ready. Even if you’ve taken good care of your home, preparing for a sale can be daunting. That said, a few small, simple improvements will go a long way toward preparing your home for the market, so don’t feel like the prep process is some kind of Goliath you have to slay. Instead, take a look at some of these tips and get rid of all your pre-sale worries... Perfect the Art of Pricing While you may be tempted to launch yourself into physically sprucing up your home, it’s also important to price it properly. A lead listing agent at Pickett Street only works with sellers, so working with Pickett Street will ensure that you receive individualized attention — and therefore better service than you would working with a conventional agent. Since about 90% of homebuyers search for homes via online real estate engines. Pickett Street uses this statistic to help you strategically list your home online using increments of $25,000 in order to maximize the potential buyers reached. Here’s how it works: if your home is worth roughly $500,000, most conventional agents would list…Read more
