1. How do I purchase a HUD Home?

All HUD homes available for sale are listed for sale on the HUD website www.homestore.com

All bids for HUD homes must be placed by a licensed, HUD registered real estate agent. An agent experienced in HUD home sales will be your best asset in locating and successfully negotiating your HUD home.

2.  How can I obtain financing for HUD home purchases?

A local mortgage broker or lender can help you finance a HUD home purchase, same as a normal home purchase. You can use FHA, VA or conventional financing to purchase a HUD home.

3.  Are there special programs for teachers, police officers, fire fighters and EMS personnel to purchase HUD properties?

YES!  The Good Neighbor Next Door (GNND) program allows people in these professions to purchase qualifying HUD homes at a 50% discount with certain occupancy requirements. Verify Qualifications for this Program or get more information.

For More Information on Whidbey Island HUD homes for sale click here.

• North Whidbey Island, which includes every sale north of Libbey Rd, was down both in total transactions and median sales price. Sales were down approximately 6% from 2010 and the median sales prices was down approximately 5%.
• Central Whidbey Island saw a year where the sales increased approximately 6% but the  median sales price remained about the same as 2010.
• South Whidbey Island experienced an increase in sales of approximately 1.5% but declined in median sales price of close to 13%.

As we have always been told, real estate is very local. These few statistics only give a snapshot of the overall market in these areas. Individual homes and locations can vary by quite a large differential. I can help you with your particular property’s value and ability to be sold. I will be posting a much more in-depth Whidbey Island Real Estate market report in a few weeks.

• Squeaky floors – Loose or warped boards are usually the culprit.

• Metal banging or popping – Plumbing pipes are usual suspect but noise can come from the heater or ductwork.

• Noises from the attic or in the walls – Around Halloween the rodent population will be hard at work. Squirrels are foraging and will drop nuts on the roof and will be scurrying around to put them in their nests. Mice and rats will be looking for a nice warm dry place to stay for the winter and you may hear them in the walls and attics. If you hear this type of noise you may want to contact an exterminator.

• Ticking noises – Usually heard in the middle of the night. Somewhere there is a mechanic timer that is making the noise.

• Howling – Heard when the wind is hitting the home. Usually a loose piece of trim is catching the wind just right and vibrating.

• Scratching noises – Tree branches or a large bush rubbing against the house.

Rick Bunzel is the Principle Inspector at Pacific Crest Inspections If you would like to know more about your home go to WWW.Paccrestinspections.com

1. Proximity to family. Nearly half of the homeowner respondents in a recent survey from Coldwell Banker Real Estate LLC reported that they live less than 10 minutes from extended family members, with 72 percent choosing to live within 30 minutes. Buying a home that is close to family members can provide support, help and guidance that can be a great benefit both emotionally and financially. With extended family nearby, families have the opportunity to spend more time together and even save money on occasion.

2. Existing floor plan. Each family has its own unique dynamic and should take its distinctive needs into consideration when exploring different floor plans. While having a master bedroom upstairs and the other rooms downstairs may work for some families, others may prefer to have all of the bedrooms on the same level.

3. Surrounding neighborhood. The neighborhood looks different from the eyes of a parent. It’s wise to get an idea of what the neighborhood offers for children, such as local recreational centers, parks or playgrounds as well as the school system, before deciding on an area to live. Coldwell Banker Koetje Real Estate  recommends home buyers utilize a website such as www.WhidbeyRealEstate.com  that can offer consumers a wealth of local Whidbey Island Home  information.

4. Future lifestyle needs. They say children grow up in the blink of an eye. Make sure the home you purchase leaves growing room and will still fit your family’s needs a few years down the road, especially if there are plans for more children.

5. Budget. One of the most important things for all potential homeowners to consider is their personal budget. Growing a family and having children usually means a growing list of expenses as well. Estimate monthly expenses along with a mortgage payment to ensure all financial commitments can be reasonably met.

To help you when considering buying a Whidbey Island home,  let one of our professionals help you and answer your questions. We are here to be of assistance to you.

Let Me Send You A  Free List of Whidbey Island Homes for Sale

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Mortgage rates plummet

This post comes from Marilyn Lewis of MSN Money.

Today’s ugly economic news has a slim silver lining: record low mortgage interest rates.

Thirty-year fixed-rate mortgages fell this week to 4.39%, on average, from 4.55% last week, says Freddie Mac. At this time last year the rate was 4.49%.

In a year of exceptionally low mortgage rates, some of this week’s prices broke all-time records:

• The average rate for a 15-year loan hit a historic low — 3.54%, Freddie Mac reports.
• The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage also hit the lowest level ever recorded: 3.18%.

For mortgage shoppers, here’s what the downward lurch means:

• Payments on a $200,000 mortgage at today’s 4.39% 30-year fixed rate would be $1,000 a month for principal and interest. At last year’s 4.49% rate, payments on the same loan would be $1,012 — a $12 difference.
• Payments on the $200,000 mortgage with today’s record-breaking 15-year fixed-rate loan — 3.54% — would be $1,434.

These calculations don’t include the fees and points required to buy these rates, which you can find on this Freddie Mac chart. (Meanwhile, run your own numbers using MSN Money’s mortgage calculator.)

“This is the lowest rate on the 30-year fixed in more than eight months,” writes Bankrate, looking back over its own mortgage rate surveys.

Global woes

News reports credit the fears of a double-dip recession, European economic woes and poor new U.S. economic reports for the falling rates.

“Moreover, consumer spending fell 0.2% in June, representing the first decline since September 2009,” said Freddie Mac’s press release.

The economic pressures are the same forces blamed for today’s sharp drop in the stock market.

The New York Times summed up the fears pressing mortgage rates lower: “American indexes fell around 3% as new data heightened fears that the United States may be headed toward a double-dip recession and that Europe’s debt crisis could widen.”

United Press International also links the rate drop to the larger reaction by global markets to dismal economic news. UPI writes: “Frank Nothaft, Freddie Mac’s vice president and chief economist, said ‘signs the economy was weaker than what markets had previously thought’ contributed to the decline in interest rates.”

Rate drop a surprise
Bankrate reports that the drop in mortgage rates was unexpected:

The sharp and rapid decline in rates surprised many mortgage experts. They expected rates to increase even after Congress reached a deal to cut spending and raise the debt ceiling.

“I don’t think anyone foresaw the fact that we were going to get the (rate) improvements that we got this week,” says Jim Sahnger, a mortgage planner for FBC Mortgage in Jupiter, Fla.

• And there was one more scrap of silver lining added to today’s dark economic news: “On a positive note, there were indications that the housing market is firming,” added Freddie Mac’s Nothaft. He points to these indications of a slightly improving real-estate market:
• A trusted home price index from CoreLogic showed prices increasing in June for the third month in a row. It’s the first three-month gain since June 2010.
• Pending sales of existing homes rose in June for the second month, according to the National Association of Realtors. That’s up nearly 20% from the same time a year ago.

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Published: February 10, 2011

Even veteran gardeners make rookie mistakes, like giving plants too much water and too little space. Here are common garden blunders. Consider yourself warned.

It’s easy to misjudge and make a mess out of your landscaping. Here are seven common garden blunders, and how to avoid them.

Mistake #1: Too many changes, too soon

The excitement of buying a new home, plus a stretch of warm spring weather, often creates a passion for yard work. But don’t just do something, stand there! What looks like a spring weed might be a fall-blooming vine; that bare spot in March might reveal tulips in April.

Try this instead: Live with your land for a year. Observe how many hours of sunlight each part of your garden gets. Test the pH of your soil to determine if acid-loving or alkaline-loving plants will be happy in that particular patch of heaven. Observe when your lawn greens up in spring and becomes dormant in late summer.

The money and time you save by watching and waiting will be your own.

Mistake #2: Too much togetherness

Trees and shrubs that look properly spaced when you plant them will crowd each other and compete for water, sun, and nutrients in a few years. If you’re lucky, you can transplant some bushes; if you’re not, you’ll have to throw away starved shrubs.

Try this instead: Before digging, read spacing instructions. Give trees plenty of space–you can always fill in later. Stagger bushes and plants and create two rows, which will create more breathing room. The results will look absurdly sparse at first. But live with it. In a few years, your shrubs will fill empty spaces without suffocating each other.

Mistake #3: Planting without a plan

Planting new garden beds without a long-term landscape plan is like pouring a house foundation without blueprints. Your haste results in a waste of time, money, and muscles.

Try this instead: Draw a simple sketch of your yard–what’s there now and what you might add later, such as patios, outbuildings, and pools. Bone up on the trees and shrubs that grow best in your soil and climate. Go online and click around landscaping sites that help you pick plants and design beds.

Visit your local nursery or home improvement center where design staff can answer questions and make suggestions. Or hire a professional landscape designer to create a starter plan for as little as $250 to $500. Find a professional at the Association of Professional Landscape Designers or the American Society of Landscape Architects.

Mistake #4: Neglecting the root of it all

Even the hardiest plants need a little help putting down roots in new locations. Sprinkling the foliage doesn’t nourish the roots, the plant’s nerve center. You must deliver water to the root ball below the ground, or your plants will be stunted and short-lived.

Try this instead: Place the hose at the base of new bushes, trees, and plants and let the water trickle out for 20 to 30 minutes, twice a week (more during hot spells), for 4 to 12 weeks. Or snake a soaker hose ($20 for 50 feet) through your beds, which will deliver slow and steady water to roots.

Mistake #5: Forgetting the sun

Too many gardeners pick plants based only on looks, not the growing conditions plants require and the conditions that exist. Rookies will plant sun-loving perennials under an old oak tree or sun-shy hostas in the open. They look great for about a week, and then die.

Try this instead: Observing the spot where you’re going to put the plant and estimating the amount of sun it gets over the course of a day during the growing season. To translate that into the language on plant labels, use this key:

Mistake #6: Over-watering

An automatic irrigation system is a luxury that keeps your landscape hydrated throughout the growing season with almost no effort. Unfortunately, auto-watering can bring disease, root rot, and a premature death to plants; it also wastes water.

Many gardeners set watering timers for 15 to 20 minutes each morning, which wets the surface but doesn’t soak deeply to nourish roots of large trees and shrubs.

Try this instead: Water for 40 to 60 minutes only two to three times a week. Check with the company that maintains your irrigation system for local recommendations. A deeper soak also helps lawns develop deeper root systems.

Mistake #7: Budget blunders

Your landscaping can fall victim to construction bulldozers that park on lawns and dig too closely to trees and shrubs. New construction also demands rethinking your landscape plan to accommodate additions.

Unfortunately, many home owners don’t include landscaping in their construction budget. They end up with a beautiful new family room, screened porch, or solarium, and a few lonely azaleas planted around the foundation as an afterthought.

Try this instead: Allocate 10% to 20% of your construction budget to the landscape—both hardscaping and plants. If your construction spreadsheet can’t stand another line item, make a plan to landscape–in stages, if necessary–as soon as possible after construction is completed.

Oliver Marks is a former carpenter and newspaper reporter who has been writing about home improvements for 16 years.

“Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.”

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