There are some changes that new prospective buyers should be aware of if buying their home in 2024. Those changes are imposed by law and new requirements from Department of Licensing in Washington state. It all happened initially because of NAR lawsuits and wish from Washington lawmakers to be proactive. Washington’s most recent efforts to promote transparency, choice, and negotiation opportunities are revisions to the Washington state “Agency Law” that were effective January 1, 2024. The new law requires brokers to enter into a written services agreement to represent either a buyer or a sell ..read more

Whether you own a home or a condominium, regular maintenance and attention are crucial to keeping your property in top condition. From checking your insurance coverage to inspecting your unit’s exterior, there are several essential tasks that homeowners and condo owners should do every year. By staying on top of these tasks, you can help prevent more significant issues down the line and ensure that your property remains a safe and comfortable place to live. Owning a #condominium can be a convenient and affordable way to enjoy homeownership. However, like any other type of property, condos r ..read more

Whether you own a home or a condominium, regular maintenance and attention are crucial to keeping your property in top condition. From checking your insurance coverage to inspecting your unit’s exterior, there are several essential tasks that homeowners and condo owners should do every year. By staying on top of these tasks, you can help prevent more significant issues down the line and ensure that your property remains a safe and comfortable place to live. Owning a #condominium can be a convenient and affordable way to enjoy homeownership. However, like any other type of property, condos r ..read more

Spring is a time for renewal and a great time to catch up on maintenance tasks that may have been neglected during the colder months. Here's a checklist to get you started: Exterior: Inspect gutters and downspouts: Clean out any debris that has accumulated over the winter. Check for leaks or damage and repair as needed. Inspect the roof: Look for any signs of damage, such as missing or loose shingles, cracked flashing, or moss growth. Consider hiring a professional roofer for a more thorough inspection. Trim trees and shrubs: Remove any dead or diseased branches that could fall and da ..read more

On Friday, March 15, 2024, NAR announced a proposed agreement in an attempt to settle all related litigation of home seller’s claims.  NAR agreed to pay $418 million to the plaintiffs over 4 years.  NAR also agreed to require brokers to make several practice changes and MLSs to make several rule revisions in return for a release of claims. Jump to: #BackgroundInformation #NARProposedSettlementAgreement #NWMLSandNARsProposedSettlementAgreement Background Information Class Action Litigation In 2019, two class action lawsuits (known as Moerhl and Sitzer/Burnett) were filed agains ..read more

The type of rental property that's best for you depends on various factors, but here's a breakdown of some common options: Single-family homes: Pros: More privacy, yards, potential for higher rent, good for families. Cons: Higher maintenance costs, potentially longer vacancy periods. Multi-unit properties: Duplexes: Offer two separate units, good for diversifying income. Triplexes: Similar to duplexes, but with three units. Fourplexes: Offer four separate units for potentially higher income, but require more management effort. Apartment buildings: Can generate significant income if ma ..read more

The earnest money deposit, also known as a good faith deposit or, simply, earnest money, is money provided by the buyer when an offer is submitted as a way of showing the seriousness of the offer. This deposit is essentially the buyer saying: "look, I really want to buy this property and I'm putting my money on it." In this article" #HowMuchIsTheEarnestMoneyDeposit? #WhoHoldsOnToEarnestMoneyDeposit? #WhatHappensWithEarnestMoneyDeposit? The earnest money is pledged, and should the buyer not fulfill his end of the contract, the seller can keep the money. Yes, you can lose your money. However, t ..read more

The "best" rental property depends on several factors, including your investment goals, risk tolerance, and target audience. Here are some general considerations to help you decide: For Investors: High demand, low vacancy: Aim for properties in areas with consistent renter demand and low vacancy rates, ensuring steady income flow. Favorable rent-to-value ratio: Look for properties where the rent you can charge significantly covers your mortgage payment and expenses. Low maintenance: Choose properties with manageable upkeep costs to minimize your financial burden. Multiple ..read more

Finding the perfect rental property can feel overwhelming, but with the right approach, you can significantly streamline the process. Here are some key steps to consider: 1. Define your needs and budget: Location: Where do you want to live? Consider factors like neighborhood vibe, commute time, proximity to amenities, and access to public transportation. Type of property: Apartment, house, condo, ADU? Consider your needs for space, privacy, outdoor access, and amenities. Budget: Determine your max monthly rent comfortably. Remember to factor in additional costs like utilities ..read more

The City of Seattle has been actively encouraging the creation of Accessory Dwelling Units (ADUs) since 2019, making it one of the most progressive cities in the US for ADU regulations. Here's a summary: Key regulations: Allowed in most zones: ADUs are allowed in most single-family zones (Neighborhood Residential, Residential Small Lot, and Lowrise) with some variations. Number of units: Up to two ADUs per lot are permitted, either two Attached ADUs (AADUs) or one AADU and one Detached ADU (DADU). Owner occupancy: You don't need to live on the property to have an ADU. Parking: Off ..read more