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September 2010

Found 11 blog entries for September 2010.

Our experience with Yvonne was absolutely wonderful! There was no question that she worked very hard to give us the best experience possible. She was always eager to answer our questions and was extremely friendly and nice to spend time with. We will definitely be referring friends to her and will use her again whenever we need a real estate agent. Thank you for such great service!

Jessi & Chris Nokes

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CLUE stands for Comprehensive Loss Underwriting Exchange. It's a database report about a home with the history of claims, losses, injuries, and other pertinent information. It is exchanged by insurance companies. It stays with the home, rather than an owner, and is important for figuring out status and future likelihood of claims.

If you have a negative CLUE report rating, you're not alone. Millions of Americans feel your pain. Not only will your insurance company stop insuring you if you ever get a low score, but your mortgage company will demand insurance, and other insurance companies could quote unaffordable rates or refuse to insure you.

When shopping for a home, never forget to request a CLUE report on the home. Then ask yourself these

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This home has SOLD!

Great Opportunity to Invest! This Kennewick home for sale has 2 bedrooms, 1 bathroom, and 915 sq. ft. with a bonus room over the garage. This home has a nice sized kitchen, some updates in bathroom and a large spacious living room. There are mature trees for shade and a beautiful wood deck to entertain.

For more information, please contact Lance Kenmore at (509) 727-8977 or send him an email at sold@kenmoreteam.com.

2313 W. Kennewick Ave.
Kennewick, WA 99336

MLS#171031
Listed at $70,000
Virtual Tour

2 bedrooms, 1 bath
915 Square Feet
Built in 1948
.18 acre lot

Prudential Now Realty, Equal Housing Opportunity.

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This home has SOLD!

Great Investment or Starter Home!! This 2 bedroom, 1 bath, 1016 sq. ft. rambler has a newer roof and the exterior freshly painted. The large living room and dining room have original oak hardwood floors. The yard is huge and has a shop. Conveniently located next to historic downtown Kennewick, WA.

To schedule a showing or for more information, please contact Lance Kenmore at (509) 727-8977 or send him an email.

105 N. Garfield
Kennewick, WA 99336

MLS#171096
Listed at $75,000
Virtual Tour

2 bedrooms, 1 bath
1016 Square Feet
Built in 1920
.30 acre lot

Prudential Now Realty, Equal Housing Opportunity.

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OK, so you’ve found your dream home you now need to make sure misstep’s don’t prevent a successful closing. Your home purchase isn’t complete until you make it to the closing. Until then, your transaction can still fall apart for many reasons. Below are Five Tips to Help Avoid Mistakes That Can Cause Your Home Sale To Fail.

  1. Be truthful on your mortgage application: You may think fudging on your income or omitting debts when applying for a mortgage will go unnoticed, but that is not true. Lenders have become more diligent when it comes to verifying information on mortgage applications. If you fib expect the truth to come out and be denied the loan you need to fund your home purchase. Anyway, lying on a mortgage application is a crime.
  2. Hold off on big
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While it is not  a huge part of our market for homes here in our Tri-Cities, WA market, we do run into a significant number of homeowners that need to pursue a Short Sale.  Some people may be asking what is a Short Sale?  Basically it is when a homeowner needs to sell a house due to lack of job, medical emergency, financial difficulty etc. and the house is worth less than what is owed on the property.  You have to work with the bank to get an "approved short payoff" on the loan so the house can be sold.  In many cases this is a better option for the homeowner and the bank vs. foreclosure.  However, it can be a complicated process and decision where the advice of an accountant and attorney are also encouraged. 

One of the problems we have been seeing

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School has commenced and we can start to feel the beginnings of fall creeping up on us! Another sure sign is the cool down of the typical “dog days of summer” weather we’ve become so accustomed to in the Tri-Cities, WA area and that also happens to correspond with the Autumn Crush at the area wineries.

The 2010 Catch the Crush Tri-Cities occurs this year on September 25th-26th, 2010 offering fall cuisine and specialty wine releases. Crush denotes an exceptional time of year in wine country as harvest concludes and production for the next vintage fills winemakers and wine connoisseurs with excitement and anticipation.

So be sure to visit Tri-Cities and Red Mountain wineries (as well as through the Yakima and Columbia Valley) for this seasonal grape

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Tune in to listen to the Tri-Cities Real Estate Update with Lance Kenmore on NEWStalk 870AM KFLD every Saturday morning at 9:00 am.

This weeks broadcast topic is "2010 Parade of Homes". It's that time of year again, the Parade of Homes starts this Saturday, September 11th. The week we will talk with the Executive Director of the Home Builders Association, Jeff Losey. He's going to talk to us about what it takes to organize and put on an event like this, along with what we can expect to see this year. 

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Here is the Kenmore Team month end real estate market update for the month of August.

August 2010
Active Listings = 1098
Listings Sold = 223
Average Sold Price = $191,800
Listings Under Contract = 309
Average Days on the Market = 129

As compared to last month, our active listing inventory stayed virtually the same at 1098 as compared to 1101. Our listings sold decreased from 253 homes sold in July to 223 sold in August. Our listings under contract increased slightly from 294 to 309. Average days on the market increased slightly from 116 to 129.

Here is what is sold in August by price breakdown…

$0,000 - $149,999 = 32%
$150,000 - $199,999 = 30%
$200,000-$249,999 = 15%
$250,000-$299,999 = 14%
$300,000-$349,999 = 4%
$350,000-$399,999 = 1%

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So, you've found the perfect house to buy, you write up a Purchase and Sale Agreement, you include the inspection and financing contingencies, you come to terms with the seller, and now it's time to move through those contingencies, the first being having the home inspected by a licensed, professional home inspector. This is a cost that you, as the buyer, pay for, for your protection.

What is it though that the home inspector is actually required to do vs. not required to do? Let's take a look.

Required to Do:

  • Assess the condition of a residence using visual observations, simple tools, and normal homeowner operating tools
  • Report in writing deficiencies of specific systems and components
  • Abide by a defined rules of conduct and ethics including
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