Title Insurance

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What is Title Insurance?

The purchase of a home is often the single largest investment people will make in a lifetime: therefore, the importance of fully protecting such an investment cannot be overstressed. Title insurance is protection which assures that the rights and interest to the property are as expected, that the transfer of ownership is smoothly completed and that the new owner receives protection from future claims against the property. It is the most effective, most accepted and least experience way to protect property ownership rights.

Because land endures over generations, many people may develop rights and claims to a particular property. The current owner’s rights — which often involve family and heirs — may be obscure. There may be other parties (such as government agencies, public utilities, lenders or private contractors) who also have “rights” to the property. These interests limit the “title” of any buyer.

Why Do You Need a Title Insurance Policy?

If title insurance companies work to eliminate risks and prevent losses caused by defects in the title before the closing, why do you need a title insurance policy? The title of the property could be seriously threatened or lost completely by hazards which are considered hidden risks — “those matters, rights or claims that are not shown by the public records and, therefore, are¬†not discoverable by a search and examination of those public records.” Matters such as forgery, incompetency¬†or incapacity of the parties, fraudulent impersonation, and unknown errors in the records are examples of “hidden risks” which could provide a basis for a claim after the property has been purchased.

Title insurance isn’t just for a homeowner. Subdividers need it when planning a new tract of homes or a commercial¬†strip center. Attorneys use it for clients who are investing in shopping centers hotels, office buildings, and countless other projects. Builders need it in order to obtain construction loans from their lender. Everyone wants to have peace of mind when investing their hard-earned money. The title insurance company will help protect these important investments, no matter how large or small, with its own reputation and financial strength.

Why Does the Lender Need a Policy on My Property?

For the lender, a title policy is a guarantee that it has a valid and enforceable lien (loan or deed of trust) secured by the property, that no one else other than those listed on the policy has a prior claim (or loan, etc.) and that the party to whom they are making the loan does own the property being used as security for the loan. This protection remains in effect as long as the loan remains unpaid.

The existence of a lender’s title policy encourages lenders such as banks, savings and loan associations, commercial banks, life insurance companies, etc., to loan money. Because they are lending other people’s money (savings or policy holder’s funds), they must be concerned with safety should the borrower not make their¬†payments. The title company ensures that the title to the property is marketable in the event of foreclosure and the guarantee is backed by the integrity and solvency of the title company. Of course, this benefits everyone — from the single-family homeowner to the owner of a high-rise building.

If you would like any information about¬†Anacortes¬†or any other questions, please contact us: (360) 899 ‚Äď 5027 or¬†jean@jeangroesbeck.com.

Jean Groesbeck Footer all info

How to Get the Most from Each Showing

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Curb appeal is vital. Many buyers find your home online and then do a drive by¬†to see if they want to view the inside. Prune, rake, put down fresh bark, add color to the yard, pressure wash driveways, and keep the lawn watered, fertilized and cut a clean edge around the yard. Wash your mailbox, have windows professionally cleaned in and out; hide garbage cans, lawn tools, and kids’ toys. Paint the exterior if needed, if not, wash siding.

Front Entrance much be clean. You may not use your front door, but buyers will, so stand for several minutes and study your porch and entry. Does it need paint? Are there spider webs? Does it need pressure washing? Do you need a new mat? Is your door handle worn and old looking? The buyer will be looking at all of these things while the showing agent unlocks the lockbox and then, your front door. They will form their general opinion of your home before they even see inside.

Send curtains out to be cleaned. Dust all blinds, clean window, and door tracks have the carpets cleaned, paint if needed or touch up paint at a minimum. Scrub everything, clean out closets (yes, buyers will look in your closets), straighten the pantry, etc. Cluttered closets give the impression of insufficient storage space.

Kitchens and bathrooms are the most important rooms to have perfectly clean. They must sparkle, have no odors, and look as close to new as possible, especially if there are new homes in your price range. Don’t leave as much as a coffee cup in the sink, and leave your home freshly vacuumed.

De-clutter and depersonalize. If it is smaller than a breadbox, pack it. Hide all pet beds and toys, do not leave newspapers or magazines out, put away all children’s toys, take down or put away all personal photographs. If your home looks stark and empty, you are almost there!

Make sure that ALL the lights and lamps are on every time you leave the house. It makes a home feel much more welcoming. If your home is dark, check to see if your lamps will accommodate a higher wattage bulb. Play soft mellow music in the background.

Make ALL beds every day. Wash linen weekly and do not leave dirty clothes in a hamper for more than a day or two. When your home is closed up, dirty clothes can cause an odor that you may not notice, but a potential buyer with a sensitive nose will.

Keep pets out of the way when showing as they can frighten or distract a buyer or agent.

Leave during all showings. It makes buyers very uncomfortable if you are home and they will cut the time they spend in the house shortly so it is best to leave. Never try to show the home yourself as the agent knows which features will have the broadest appeal to their buyers.

Please do not discuss anything about your home with a prospective buyer. If there were to be a problem down the road, the buyer will not be able to say that you made false claims if you have never talked with them.

If you have any more questions or need more information about Anacortes, please contact us : (360) 899-5027 or jean@jeangroesbeck.com.

Jean Groesbeck & Associates LLC

 

3 Things to Do Now If You Want to Buy a House This Year

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1. Save as much money as you can. Cut out the small things that add up like Starbucks coffee or getting gas where is convenient rather than the most economical location.

2. Go see a local Lender. They will pull your credit score and let you know exactly what to do if you have to improve your score. They will also let you know how much your house payment will be at different price points so you can determine the price range of your future home. The lender will also instruct you on the mortgage process of purchasing a home.

3. Select Your Realtor¬ģ Now. If you are watching Zillow or another secondary real estate site, you are not getting timely accurate information about homes for sale. Your realtor will send your listing of a home for sale immediately when the home is listed and also, notify you when homes in your price range get an accepted offer. This helps you learn the value and the demand of homes for sale. Starting this process of house hunting online will assist you greatly when you actually go to look at homes for sale.

Even if you are not ready to purchase a home, we are happy to provide you with listing deals as well as real estate market updates.

Just click here to sign up for listing alerts.

Just click here to subscribe to our real estate blog with provided information on community events.

If you have any other questions about buying a home, please contact us : (360) 899 Р5027 or jean@jeangroesbeck.com.

Jean Groesbeck & Associates LLC

Open House!!! 4017 W 4th St. Anacortes, WA – Friday October 17th, 4PM-6PM

ANACORTES REAL ESTATE ALERT!

OPEN HOUSE FRIDAY OCT 17th 4PM-6PM

4014 WEST 4TH STRET  ANACORTES


We will be hosting an open house¬† Friday, October 17th for one of our featured home listings in Anacortes. Come and see this beautiful, ready to move in home in Anacortes. This charming home in Anacortes is in impeccable condition with new paint throughout! Got stuff? This home features an amazing 1088+/- sq ft ¬†3 car ¬†detached garage with roll up industrial doors and built in shelves! Love gardening? store everything neatly in the garden shed on the back patio. Enjoy this one level living home with spacious and bright interior. Cozy up by the wood burning stove next to the living room or relax and read a book in the light flooded family room. The newly remodeled ample kitchen has an eat-in bar and includes refrigerator, dishwasher, glass cook top and a brand new (never used) double oven. The cheery dining room is just across from the kitchen for effortless guest entertaining. Three bedrooms, 1 and 3/4 baths and a huge utility room that doubles as a mud room make this the perfect home for you! Don’t miss the opportunity to see this lovely Anacortes home! Join us tomorrow Friday, October 17th from 4pm to 6pm at 4017 W 4th St. Anacortes, WA.

Call or email Jean Groesbeck for more information.          Click here to see the full listing!

Directions: From Commercial, west on 12th St onto Oakes Ave. Turn left on Anacopper Rd, left on W 4th St. The house is the first on the right at the corner of Anacopper and W 4th St.

IF YOU CAN’T MAKE THE OPEN HOUSE:¬†¬† Please call, text or email Jean@JeanGroesbeck.com a private showing at your convenience.

Anacortes Open House

1 Tony McKinlley3Open House   MLS#29091879   4002 Oakes Avenue     Anacortes, WA. 98221

1:00-3:00 on November 8th, 2009

 Come join me in experiencing one of the best view homes on Fidalgo Island at 4002 Oaks Ave. This Luxury home is on Approximately 2 acres. A superb location the way to the Washington State Ferry. Look for the blue and white Coldwell Banker signs. Sweeping breathtaking views of Guemes channel northward to Canada. Sit on the deck and enjoy observing the boating activity up and down the channel. Come and appreciate the many special feature to this beautiful Luxury Homes. Refreshments will be available for your enjoyment. See you there!!!

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  Tony McKinley               Cell (360) 941-1938

TonyM@ColdwellBanker.com        www.CBIslandLiving.com

Coldwell Banker Announces New Member to Anacortes Real Estate Team

Tony McKinley Coldwell Banker Island Living is pleased to announce that Anacortes resident Tony McKinley has joined their team of Anacortes real estate agents serving Skagit County. 

  

A lifelong Washington resident, Tony was raised in Kent, Washington where he met and married his wife of 27 years. The McKinleys moved to Spokane in 1991 and relocated to Anacortes in 2000.  They have two daughters and the entire family enjoy Anacortes very much.

 

A strong construction background, knowledge of the home building process, and 25 years in the construction industry will help educated home buyers on issues relating to home construction. He developed a reputation for being an advocate for his clients and providing exceptional customer service to assist customers achieve their dreams.  

 

Tony also knows how important it is to “give back”.¬† Recently, Tony and his wife spent four days in Flagstaff, Arizona assisting in organizing an Extreme Home Makeover project.¬† He also assisted in a ¬†Family Transitional Housing project in Bellevue, WA which consisted of a three building, six-unit housing project. ¬†

 

            Tony enjoys spending time with his family hiking, boating, kayaking, fishing, and attending live theater with his wife.

 

            Coldwell Banker Island Living is located at 3110 Commercial Ave. in Anacortes.  Coldwell Banker Island Living is a full service real estate firm is open 7 days a week providing real estate sales and property management for both residential and commercial properties.  You can shop homes for sale based on a wide variety of criteria from waterfront homes to bank foreclosures at www.CBIslandLiving.com or call a Coldwell Banker Island Living agent at 360-293-4511.

Buying a home with a FHA Loan

 

The first time home buyer tax credit is due to end in just 76 days!¬† ‚ÄúFirst-time home buyers‚ÄĚ includes anyone who hasn‚Äôt owned a home in the past three years.

Only 76 days left to take advantage of the first time home buyers tax credit!

Only 76 days left to take advantage of the first time home buyers tax credit!

Since it takes 45 days to close most loans, and may take longer once we near the deadline and lenders get backlogged, we are seeing first time home buyers scrambling to purchase affordable homes for sale in Anacortes, La Conner, and throughout Skagit County.

Many of these home buyers are taking advantage of FHA loans.  Some of the advantagews of FHA loans include

  • Only 3.5% Down Payment for an FHA Mortgage Loan to purchase a house.
  • Credit Scores are NOT used to determine eligibility. Perfect credit NOT required.¬†
  • Money for a down payment can be gifted from a friend or relative.

 

FHA loans are loans that are guaranteed by HUD (the Department of Housing and Urban Development.) HUD will guarantee the loan, or ensure that if you default on the loan that HUD will pay part of the loan amount to the lender.
FHA loans are recommended for those borrowers who are first-time buyers, have little money to put down, have a short credit history, or are having trouble qualifying for a Conforming loan.
If you think you don’t qualify to purchase a home, consider investigating a FHA loan.¬† Our Coldwell Banker Island Living real estate agents can help you find your dream home and help walk you through the home loan and the home buying process.¬† But hurry, TIME IS RUNING OUT for the first time home buyers tax credit!
To shop on line for homes for sale go to:  WWW.CBISLANDLIVING.COM or call 360 293-4511.  We are open 7 days a week!
Coldwell Banker Island Living  (360) 293-4511  IslandLiving@ColdwellBanker.com
3110 Commercial Ave. #101  Anacortes, WA  98221

 

Jim Gillespie, CEO of Coldwell Banker, is spokesperson of Real Estate Industry

 

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, appeared on CNBC on Tuesday to discuss the state of the housing industry. Click here to watch his interview with Dennis Kneale.

 

Jim Gillespie, will also appear live on Monday morning at 9:45 Eastern on Fox Business News.  Jim will be interviewed by Alexis Glick on the state of the housing industry.

Jim has become one of leading spokespersons for the real estate industry due to the strength and broad international reach of Coldwell Banker.

 

 

To learn more about Coldwell Banker visit our local website

www.CBIslandLiving.com

 

 

 

 

 

 

 

 

 

 

The National Luxury Real Estate Market

In order to do a good job in representing La Conner and Anacortes Waterfront Homes and Luxury Properties, it is important to have an in-depth understanding of the National and International Luxury Real Estate Market.

Here are a few stats you might find interesting:

 

Top 10 U.S. Luxury Real Estate Markets

According to the U.S. Census, the number of homes valued at $1 million or more increased 470% between 2000 and 2005.  Here are the states with the greatest number of owner-occupied $1 million-plus properties.

Here is the number of Luxury Homes sold by state and the % of total homes they represent:

 

1. California    619,170 8.76%
2. New York   165,641 4.21%
3. Florida   102,010 2.08%
4. New Jersey    61,523 2.91%
5. Massachusetts    54,156 3.45%
6. Illinois   43,533 1.33%
7. Connecticut    40,578 4.41%
8. Virginia      38,725 1.92%
9. Maryland     35,835 2.49%
10. Washington    28,704 1.81%

 

 

 

 

 

More foreigners are purchasing home in the U.S. and we are seeing more La Conner and Anacortes home buyers coming from other countries.  Here are the stats nationally. 
(Click on the chart to make it larger.

 

 

 

 

 

Source:  2007 National Association of REALTORS¬ģ Profile of International Home Buying Activity
Source: 2007 National Association of REALTORS¬ģ Profile of International Home Buying Activity

 

 

 To read more about La Conner and Anacortes Luxury Home Buyers click here.

Information on this blog is compiled from reliable sources, but information may be time sensitive and is not guaranteed.

More information is available at www.CBIslandLiving.com and additional blog posts at www.AnacortesRealEstateBlog.com