• Login
    • Register

Tellus RealtyTellus Realty

Tellus Realty

Contact Us Today At
877-413-7325
Office@TellusRE.com

PO Box 1113 Duvall, WA 98019

  • Menu
  • Home
  • Buy
  • Sell
  • Communities
    • Duvall, WA
    • Woodinville, WA
    • Monroe, WA
    • Carnation, WA
  • About
  • Contact

Home Buyer Due Diligence – King County Permits, sex offender registry, and more

There are quite a few steps in the due dilgence process for home buyers.  We walk clients through most of the major ones (listed in our Home buyers due diligance topic) during their transaction.

In addition to these we also recommend clients perform these additional due diligence steps:

  1. Check with local police for any known crime problems in the area
  2. Check sex offender registry. You can review the Sex Offender registry here: http://www.nsopw.gov/en-US/Search/Verification
    or here: http://ml.waspc.org/
  3. If you think there may have been recent remodeling, ask for copies of permits or check with local permitting department.  For unincorporated King County, you can check the following website: https://aca.accela.com/kingcounty/

And, we always emphasize the need to go visit and speak with your neighbors.

 

 

Posted in: Home buying, Residential real estate

NWMLS market report for March 2013

The Northwest MLS (NWMLS) just released (late last week) sale and listing statistics for this past March. The news release definitely matches what is happening for my clients.  Here is an excerpt from the news release…

Prices “spiking” as home buyers compete for scarce inventory
KIRKLAND, Wash. (April 4, 2013)… Northwest MLS figures show year-over-year prices jumped 14.9 percent for the 21 counties in its service area. The median price for last month’s closed sales of single family homes and condominiums (combined) was $258,500, rising from $225,000 for the same month a year ago. Twelve counties reported double-digit gains, led by Ferry (up 70.9 percent), San Juan (up 47.3 percent), and Island (up 36.1 percent).
Prices for single family homes increased 14.3 percent, while the median sales price for condos, which accounted for about 12 percent of sales, surged 19.6 percent. Two-thirds of last month’s condo sales were in King County; prices there leaped 28.6 percent, increasing from $175,000 to $225,000. The price of a single family home that sold in King County jumped from $330,000 to $392,000 (up 18.8 percent).
Brokers reported 5,745 closed sales last month for a 13.9 percent increase from the previous year when they tallied 5,044 completed transactions.

Here is the full press release: http://www.nwmls.com/discover/nwreporter.cfm?SectionListsID=25

Posted in: Home buying, Home selling, Real estate industry, Real estate investing, Residential market reports, Residential real estate Tagged: january 2013, market report, nwmls statistics

DOL Real Estate Commission issues guidelines for internet advertising and social media

Our friends at the Northwest MLS passed along some new guidelines from the Washington State’s Department of Licensing.  These guidelines cover internet advertising, email, and social media.  The full set of guidelines can be found here.

Its important as a consumer that you are familiar with these guidelines. Being familiar with them means you can more easily identify real estate companies that are acting legally and ethically.  If you find a company that doesn’t take the time to be familiar with the laws and guidance of DOL (or doesn’t follow them when they are familiar), you shouldask if yourself if they are willing to follow any of the other rules that protect you.

Here is the main set of guidelines:

Guidelines for on-line disclosure
All Internet related advertising that consumers can view or experience, as a separate unit, (for
example, email messages or Web pages) should require full disclosure. The burden of proof of
such full disclosures falls on the licensee, the firm, and designated broker (licensed entities) when
addressing a consumer complaint. This disclosure does not apply once an agency relationship has
been established with a buyer or seller. Examples of online communications are listed below:

  • The Web
    Whenever a licensed entity owns a website or controls its content, every viewable page
    should include full disclosure. (A “viewable page” is one that may or may not scroll
    beyond the borders of the screen and includes the use of framed pages.) If you give
    permission for a 3rd party to advertise your listings maintain regular and thorough
    oversight to ensure the information is correct. Adhere to copyright laws.
  • Email, Newsgroups, Discussion Lists, Bulletin Boards
    Such formats should include a full disclosure at the beginning or end of each message.
    This would not apply to communications between a licensee and a member of the public
    provided that the member of the public has sent a communication to the licensee and the
    licensee’s initial communication contained the disclosure information required above.
  • Instant Messages
    Full disclosure is not necessary in this format if the licensed entity provided the written
    full disclosure via another format or medium (e.g., e-mail or letter) prior to providing, or
    offering to provide licensable services.
  • Chat
    Full disclosure prior to providing or offering to provide licensable services during the
    chat session or in text visible on the same webpage that contains the chat session.
  • Social Media
    Full disclosure should be prominently displayed and easily understood and be no more
    than one click away from the viewable page. Each real estate firm should have and
    maintain a written policy regarding their licensee’s use of social media.
  • Multimedia Advertising (e.g. Web based, executable e-mail attachments, etc.)
    Full disclosure should be visible as part of the advertising message.
  • Banner Ads
    Should link to a webpage that has full disclosure that is a single click away from the viewable page, unless the banner ad has such full disclosure.

 

Posted in: Real estate industry, Residential real estate Tagged: advertising, consumer protection, DOL, social media

Free expense tracking spreadsheet for your rentals – we’ve updated it

Spreadsheet is updated as of 12/18/2016!
Are you done putting together your tax paperwork? I just finished mine and my accountant liked the spreadsheet.  In the process of using it I found, and fixed a few bugs, so if you tried it before… try it again.  And, if you haven’t started your taxes yet, its a great time to do so.

Here is the original post with some information about the spreadsheet, and links to full instructions.

We’ve created this simple spreadsheet, that we use ourselves, to track our rental income and expenses, and to report information to our accountant.  With it, you can create reports, including a Profit and Loss Statement (P&L) for each property or unit.  You can also see how much you are spending by category.  The spreadsheet is designed to do a lot of the basic work for you, while being customizable. You can add your own properties, expense categories, and income categories for use in tracking and reporting.

Download the spreadsheet here

You can find a full description, and simple instructions here….

License and instructions for Rental property P&L spreadsheet
License and Instructions
Property and unit list for Rental property P&L spreadsheet
Property and Unit List
Expense Categories list for Rental property P&L spreadsheet
Expense Categories
Income Categories list for Rental property P&L spreadsheet
Income Categories
Expense Entry tab for Rental property P&L spreadsheet
Expense Entry
Income entry tab for Rental property P&L spreadsheet
Income entry
Details section of property report for Rental property P&L spreadsheet
Property report – Details
Property report - Income and Expense by Category report for Rental property P&L spreadsheet
Property report – Income and Expense by Category
Property report - summary for P&L spreadsheet
Property report – summary
Portfolio Summary tab of P&L spreadsheet
Portfolio Summary
Category summary tab of P&L spreadsheet
Category summary

Posted in: Commercial real estate, Landlording, Real estate investing, Residential real estate, Technology and real estate Tagged: income and expnse, P&L, rental, spreadsheet

NWMLS market report for January 2013

The Northwest MLS  released sale and listing statistics for this past Janauary, last week.   Their news release confirms what I’ve been seeing hte market.  Prices are moving up and competition is stiff for good homes with good prices (meaning good condition and well priced, at or below the average $/SF).  Here is an excerpt from the news release…

Brokers report brisk sales, but rising frustration for home buyers
KIRKLAND, Wash. (Feb. 5, 2013) – Punxsutawney Phil’s prediction of an early spring is showing up in the latest housing activity report from the Northwest Multiple Listing Service. Its statistics for January showed a 14.4 percent year-over-year increase in pending sales and a 23.6 percent jump in closed sales amid a 31.3 percent decline in inventory.
The MLS reported 4,289 closed sales during January, surpassing the year ago total by 820 transactions. Last month’s completed sales of single family homes and condominiums had a median selling price of $239,300. That’s up 11.3 percent from the year-ago figure of $214,990.
Supply has dwindled to less than two months in some counties close to job centers, spurring bidding wars. Some buyers are even resorting to writing “love letters” to win over sellers in these competitive situations. Brokers also report an increasing number of buyers have little or no interest in making offers on short sales.

I think its important to keep in mind, of course, that not all sub-markets are created equial. While things are tight in some parts of King and Snohomish Counties, and other parts of western Washington. Many counties have 10 months or more supply of homes (so its still a buyer’s market there). Additionally, even within the tight markets, there are plenty of areas where demand is soft. The highest demand is in the more urban areas, with popular school districts, and close to major employers. These are the classic drivers of home demand

Take a look at the basic stats for yourself:

Jan 2013 NWMLS stats

 

 

 

Posted in: Home buying, Home selling, Real estate industry, Real estate investing, Residential market reports, Residential real estate Tagged: january 2013, market report, nwmls statistics

Shortsale 101 class coming to Monroe in May

Sellers: Think you can’t sell your home or investment property because you owe more than it’s worth? Buyers: Are you looking for a great deal on a home? In this class we’ll answer all (or at least most) of your questions about shortsales and the shortsale process.  This class is being held as part of Sky Valley Community Schools in Monroe, Washington.

Check our class calendar for more information about this class and others: https://tellusre.com/ai1ec_event/shortsales-101-may-monroe-washington/?instance_id=

Posted in: Home buying, Home selling, Real estate investing, Residential real estate

A quick reference for the Northwest MLS fields you can search using TellusRE.com

The Tellus Real Estate Solutions Advanced Search page for residential properties contains a large number of fields you can use to configure a customized search. With so many fields, it can be a bit bewildering just what they mean and how to use them.  We’ve provided a reference  list of the fields available on the Tellus Real Estate Solutions Advanced Search page with a short explanation for how each is used. Just keep in mind that only a few fields are required by the Northwest MLS, so there is a good chance that there will be at least one property where the data isn’t provided. It is really up to the listing agent to provide complete and accurate information about each property and unfortunately, not everyone is as diligent as they should be.

A subset of the fields are used on the Basic Search page, and a few show up on the map search.

The Search field definitions link appears under the Residential search tools menu on all the Search pages and all the Residential buyer pages of our site.  Take a look at our Advanced Search page and let us know if you find the field explanations helpful.

Posted in: Residential real estate Tagged: advanced search, field definitions, nwmls, search

We’ve redesigned the Tellus Real Estate website

With the help of the guys at Applied Imagination Media (www.aimbiz.com), we’ve redesigned the Tellus Real Estate Solutions website.  We’ve kept our original vision intact, providing clients a a way to find content and tools that meet their needs, whether its buying a new building as the headquarters to their growing business, looking to lease space in the newest shopping center in the area, or selling their home and downsizing.

But, we’ve made it cleaner and more readable.  We think you’ll find the information you need faster and be able to take action more quickly, also.  And, for clients with current listings or transactions, we’ve created custom pages for you where we can go to find documents, links, and notes about your transaction.

Take a look around the new site and let us know what you think.

 

Posted in: Commercial real estate, Residential real estate Tagged: aimbliz, applied imagination media, new website

DIY credit repair for home buyers class

Unfortunately, we didn’t have enough people signed up for our last class, “DIY Credit Repair for Home Buyers”. But, we have posted the slides and handouts for the class to our website.  You can find them here: https://tellusre.com/home-buyer-center/diy-credit-repair-for-home-buyers-class/

One important resource you should use is your free annual credit report.  The government requires that credit companies offer you a copy each year. You can obtain it here, without signing up for credit monitoring: https://www.annualcreditreport.com/cra/index.jsp

Posted in: Home buying, Residential real estate Tagged: classes, credit repair, credit report, home buying

Is it real estate recovery time in Western Washington?

That seems to be the big question with another glowing set of real estate stats from the Northwest MLS.

According to the latest NWMLS  news release…

Prices on October’s sales were up 10.4 percent compared to twelve months ago. The median price for last month’s closed sales of single family homes and condominiums (combined) was $251,625; a year ago the figure was $228,000. The last time the multiple listing service reported an area-wide double digit hike in prices was March 2007 (up 11.3 percent).Prices for single family homes, which accounted for more than 86 percent of October’s sales, rose more than 11 percent, while prices for condominiums jumped 16.6 percent.

But, if you saw my post from our updated Foreclosures 101 class a couple of weeks ago, you’ll remember that foreclosure filings are up around 70% over last quarter.  Washington state is now #11 in the country for foreclosure filings.  I have a feeling that is going to put a damper on the recover, at least in some price points… mostly the lower ones that attract all the interest.

Also, some other things that can affect future sales:  rising interest rates (which are likely to stay level for the next year, but not much longer), deductibility of mortgage interest (see my view on that deduction), etc.

For investors, this does may buying more of a challenging. With prices headed up and low inventories you may not be able to low-ball offers as easily.  Keep your eye on the cashflow and net income, so that you can more readily negotiate a price that makes sense from an investment viewpoint… even if its not as low as you hoped.

For home buyers, I remind you, your home is not a financial ‘investment’.  Its an expense.  It may be a necessary expense, and even a desirable expense, but its not an investment.  So, except for comparing prices to each other, and comparing owning vs. renting, don’t treat it like an investment. If you avoid that mind set, then the drama of rising and falling values when you buy won’t affect you.  I don’t care how much my home is worth… I can afford my payments and I like living there. I’m not selling any time soon.

Jason Hershey, Designated Broker
Tellus Real Estate Solutions, LLC
Commercial, Residential, and Investment Real Estate
PO Box 1113
Duvall, WA 98019
Cell: 425-417-5389
Fax: 425-223-3148

www.tellusre.com

Looking for an easy way to save time and money on your rental properties? Try using the FREE web tools for managing your real estate.

Posted in: Real estate investing, Residential real estate Tagged: nwmls, recovery, statistics

Posts navigation

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • Next Page »

About Us

Welcome to Tellus Realty! We’re is committed to helping you make informed and rewarding decisions whether your or looking to buy and sell real estate, or in search of a new home for your license. Tellus Realty provided a more personal, one-on-one experience. We are not affiliated with a big-box or franchise where agents and clients are viewed as a statistic or number. Our team focuses on service and quality.

Our Communities

  • Duvall, WA
  • Woodinville, WA
  • Monroe, WA
  • Carnation, WA

Contact Us

PO Box 1113 Duvall, WA 98019

Office@TellusRE.com
877-413-7325
© 2025 · Equity Framework · DMCA Notice
Privacy Policy · Listings Sitemap · Sitemap