Deals!!!

UPDATE: Both the Columbia City & West Seattle homes are gone. The Fremont Triplex has seller financing available now (4% interest, 15% down, 5-10 year balloon is a possibility), and is now priced at $499,950 (was $525,000). The Wallingford Duplex is still available at $525,000.

Here is a quick recap of four not on the market real estate deals for sale in Seattle. None of these are on the market (so no one else knows about them!). There is a triplex/fourplex in Fremont for $525,000, a duplex in Wallingford/Greenlake for $525,000, a cosmetic fixer in West Seattle for $260,000, and a cosmetic fixer in Columbia City. I also talk about the major fixer that I made a video about the other day in Maple Leaf available for just $175,000 (it has over $20,000 worth of plans and permits included in the price to build a new modern home in it’s place).

If you are interested in learning more about any one of these properties, feel free to call or text me at 206-949-3048, or email me at Christian@DealsInSeattle.com. Like I said, none of these are on the market, so only you and I know they are available for sale.

I know of a major fixer in the Maple Leaf area of Seattle that is not on the market yet for only $175,000! According to the King County tax records, it’s a 3 bed, 1 bath home with approximately 960 sqft. The average list price for similar homes for sale in Maple Leaf is around $423,000. Anyone looking for a fixer, this could be a good deal for you! Contact me for more info.

Christian Nossum
Cell: 206-949-3048
Email: Christian@DealsInSeattle.com

This house hasn’t hit the market yet, but once it does it is going to fly! At $259,900, it is underpriced and ready to move.

NOT A SHORT SALE!

It’s a cute 2 bed, 1 bath home in North Seattle that’s ready to be lived in. Lots of updates, but much of the original charm is still intact as well. Contact Christian Nossum with Wilson Realty Exchange, Inc for more info or to set up an appointment to see it – 206.949.3048 or Christian@DealsInSeattle.com.
(This is not Christian’s listing, but he has permission from the seller to advertise it.)

This is a great home, built by a local builder for himself. He’s lived here the last 6 years (it was built in 2003), and now he’s moving on. That presents a great opportunity for a deal. Why? Because this builder is well versed in selling homes, and is willing to be creative. Ever thought about trading your home for this one? He’d consider that. Ever thought about not getting a loan from a bank and instead having the seller finance the deal for you? That’s a possibility. Plus, don’t be afraid to make an offer on this home. If you are thinking of offering less than the asking price, let’s do it! The seller is a builder – you’re not going to hurt his feelings. Interested? You haven’t even heard about the house yet!

The house in itself is just awesome. It was custom built by the builder for himself, so you know it’s solidly built. The 4 bedroom, 3.5 bathroom, 2860sqft house is loaded with high end touches throughout including box beam ceilings, built in sound system inside and out, an outdoor natural gas fire pit, high end Kohler fixtures throughout the house, jetted master tub, and even a hot water car wash valve outside to help keep that car looking nice and clean. The house also has a separate 1 bed, 1 bath rental unit in the basement with a separate entrance and includes its own security system. It was last rented for $950/month. It’s only a block and a half from the Burke Gilman Trail and Lake Union, and you’re within the Seattle School District boundaries for the award winning John Stanford International School.

If you have any interest in checking this place out in person, if you have any questions, or if you already know that you want to make an offer, contact me – call or text me at 206.949.3048, or email me anytime – Christian@DealsInSeattle.com.

I TOLD YOU IT WAS A DEAL!!!

If you’re looking for a slight fixer multi-unit building in a great location for under $350,000, here you go! This Queen Anne duplex near Seattle Pacific University (SPU) just came on the market. Each side has 1 bed/1 bath plus its own garage. One side of the duplex is in great shape-refinished hardwood floors, stainless steel appliances, slab granite counters, etc. The other side looks to be in the original 1955 state. It’s not in horrible shape, but it does need some updating.

The thing that excites me about this house is how the numbers work out. If you are buying this to live in it, and you get an FHA 30 year fixed loan at 5% (which is an estimate, but that’s about what rates are right now), with only 3.5% down payment ($11,434.50), your principle and interest payment would be $1753.80. Market rents indicate that you could get around $850/month in rent for the nice unit. Subtract $850 from $1753.80, and your monthly payment would be $903.50! That’s almost as much as the rent, and you own the place! How cool is that!

If you have any interest in checking this place out in person, if you have any questions, or if you already know that you want to make an offer, contact me – call or text me at 206.949.3048, or email me anytime – Christian@DealsInSeattle.com. (Please note that this is not Christian Nossum’s listing, but he does have permission to advertise it by the listing broker)

This cosmetic fixer is a great deal at $173,250. It has 3 bedrooms, 1.5 bathrooms, a large 2 car garage, and a nice yard. It needs a little cosmetic help, but really, after you take out the carpet and throw some paint on the walls it’s going to look a whole lot better! The kitchen appliances are outdated, and that will probably be your largest expense, but that doesn’t even have to be done right away. Keep it the way it is until you get your first time buyer tax credit back (which was just extended today!), and deal with it down the road.

FIRST TIME BUYERS!!!
How could possibly make $1936.25 buying this house? If you get a 30 year fixed FHA loan, you only need to put 3.5% of the price as your down payment (which at $173,250 is $6063.75). The first time homebuyer credit, that was just extended through April 30th, 2010, is $8000.

$8000-$6063.75=$1936.25. (Your ‘principle only’ payment would be just under $900/month (assuming a 5% interest rate).

If you are interested in taking a look at this, or have any questions about it, contact me. You can call or text me 206-949-3048, or email me Christian@DealsInSeattle.com anytime.

According to Bloomberg.com:

Congress gave final approval to legislation expanding an $8,000 tax credit for first-time homebuyers, extending unemployment benefits and providing tax refunds to money-losing companies.

The House passed the measure today on a 403-12 vote, sending it to President Barack Obama, who will sign it tomorrow, according to spokeswoman Jen Psaki. All 12 House members voting against the bill were Republicans. The Senate approved the bill 98-0 yesterday after weeks of delays.

So it looks like it will be finalized tomorrow when President Obama signs it. The details are still not 100% clear, but the gist of it is that first time buyers (those not owning a home within the last 3 years) will be eligible for up to an $8000 tax credit (10% of home price, with an $8000 max), with a sign around contract date of April 30, 2010 (previously, you had to “close” by the end of this month, now you can close up to July 1st, 2010).

For a chart outlining the details, check this pdf out from the National Association of Realtors.

Previous Homeowners Are Not Left Out
Another part of this legislation is that a new tax credit for “long-time residents of same principal residence” has been created equaling up to $6500 (again, 10% of the purchase price up to $6500). The basics that you need to qualify for this is that you need to have lived here as your primary residence (no investment properties) for 5 consecutive years over the last 8 years. This is new, and should really help some move up buyers/sellers. Homes worth more than $800,000 are not eligible for this tax credit.

Those are the basics. Remember that I am just a real estate agent, and not a tax adviser, politician, or lawyer. Please seek your own qualified counsel for specifics on this. And remember that this isn’t official until President Obama passes it (which will apparently be tomorrow).