Real Estate Terms Defined

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Both buying and selling a home can be intimidating experiences, especially if your Realtor® begins using terms with which you are not familiar, before really explaining them. Team Groesbeck’s goal as your Realtor® is to make the home buying or selling process as smooth as possible, beginning with defining a few terms for you!

Adjustable Rate Mortgage – An adjustable rate mortgage is one that has a fluctuating interest rate; they typically have a lower initial interest rate for a set time, then adjust according to an index.

Certificate of Title – This proves that the property is legally owned by the seller, and that no other party has any claims over it.

CMA – CMA’s (Comparative Market Analysis) are done by agents when you are looking to sell your home. They will put together a report to determine a fair asking price based on the current market and how other homes are doing in your area.

Comps – The term “comps” refers to properties that are comparable to your property. This takes into account the home’s size, close amenities and location, in addition to other factors.

Deed – The deed is a legal document proving transfer of ownership from the seller to the buyer.

Disclosures – Disclosures are details about the home that a seller must provide to a buyer. For example; if the basement often floods in heavy storms or if there is lead in the home, the seller would need to disclose this information.

Due Diligence – Due diligence refers to the buyers’ responsibility to research and verify details about the transaction. For example, it is the buyer’s responsibility to coordinate an inspection, and confirm that the information coming from the seller’s attorney and broker are legitimate.

Escrow – Escrow is the time period when purchase funds are released from one party to another and the transfer of the home is completed. The escrow company is a neutral third party who executes the transaction utilizing the purchase agreement and other documents.

Firm Commitment – A firm commitment is a promise from a lender that they will enter into an agreement with another entity (typically a buyer) within a certain period of time.

Fixture – Fixtures are items of value that are permanently attached or a part of a property. This can include lighting, carpeting, or landscaping; these items have the potential to cause disputes between the buyer and seller and are sometimes used as leverage for negotiations.

HOA Docs – Some homes fall under the jurisdiction of a Homeowner’s Association. In this case documents outlining the association’s regulations will be provided either by the association, or through your Realtor®.

Pre Qualification – Borrowers (home buyers) must go through a process where the lender confirms that the borrower qualifies for a loan, based on their credit history and current financial standing. This is done using only the information the buyer provides the lender. The amount for which one is pre-qualified is to be considered an estimate, and is not set in stone. This information does, however, show your Realtor® and the seller of the home in which you are interested that you are serious about the home buying process.

Pre Approval – Getting pre-approved is the next step, and is more involved than the pre-qualification process. The buyer will complete an official mortgage application with their chosen lender, and supply the lender with necessary documentation so an extensive check can be done on their financial background and current credit rating. You will be given an exact amount for which you are approved and completing both the pre-qualification and pre-approval process will allow you to know how much you can actually afford.

While these are only some of the many real estate terms, Jean Groesbeck & Assoc. LLC will guide you along the way to ensure your transaction runs smoothly.  Located in Old Town Anacortes, Team Groesbeck is available daily to work for you and can be reached at (360) 941-3734 or Jean@JeanGroesbeck.com.

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Anacortes Senior Center Fundraiser Oct. 28

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The Anacortes Senior Center Foundation presents “Fun – Fabulous Forever Young” on Saturday, October 28, at 5:30 p.m.  This event is an unconventional runway show with clothing made primarily of office supplies.

This fundraiser will be held at The Depot in Old Town Anacortes, located at 611 R Ave.

Tickets are $50 and includes dinner and music, and are available at Watermark Book Company and the Anacortes Senior Center.

For additional information, contact the Anacortes Senior Center at (360) 293-7473.

Located in Old Town Anacortes, Jean Groesbeck & Assoc. LLC, licensed under Coldwell Banker Bain, is proud to support Anacortes events.  For any of your real estate needs, please contact us daily at (360) 941-3734, (360) 899-5027 or Jean@JeanGroesbeck.com.

Anacortes Artists Studio Tour Oct. 21-22

 

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Presented by the Anacortes Arts Commission, the 2017 Anacortes Artist’s Studio Tour will take place Friday, October 20, and Saturday, October 21.

This year’s tour will feature the artwork of more than 40 artists at more than 30 venues, and studios will be open throughout the 98221 zip code from 10 a.m. to 5 p.m. both days.

Maps for the free self-guided tour around Fidalgo Island will be available at all participating studios, local galleries, the Depot Art Center and the Croatian Cultural Center, the Anacortes Chamber of Commerce, plus many other establishments throughout the area.

The brochure are additional information will also be on the Anacortes Arts Commission website: www.anacortesartscommission.com.

Located in Old Town Anacortes, Jean Groesbeck & Assoc. LLC, licensed under Coldwell Banker Bain, is proud to support Anacortes events.  For any of your real estate needs, please contact us daily at (360) 941-3734, (360) 899-5027 or Jean@JeanGroesbeck.com.

City of Anacortes Dog Licenses Move Online

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The City of Anacortes will begin issuing 2018 dog licenses in mid-November so be on the lookout for your more convenient options in the coming weeks.

2018 changes include:

  • Renewal licenses will be mailed directly to owners of all currently licensed pets.
  • New and renewal licenses will be available by mail, in person at City Hall or the Anacortes Police Department, and online.
  • Owners will be able to update their own contact information and pet information throughout the year.

 

Proof of rabies vaccinations are required each time your renew your dog’s license, and if you have moved since your dog was last licensed, please call (360) 299-1968 to ensure that your renewal reminder reaches you well in advance of the January 1 deadline.

Click here for pricing and additional licensing information.

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Fundraiser Oct. 28 Benefiting Animal Protection Society – Friday Harbor & S.P.O.T.

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The Animal Protection Society – Friday Harbor (APSFH) will host its first “The Howl: A Pawsatively Spooktacular Halloween Fundraiser on Saturday, October 28, from 6 to 11 p.m.
This is a 21+ event and will take place at the Swinomish Casino and Lodge in Anacortes, featuring a gourmet dinner, no-host bar, costume contest with cash prizes, dancing to Vancouver Premier DJ, onstage games, raffles, silent auction and our guest master of ceremonies, actor Neal McDonough. A portion of this fundraiser will also benefit S.P.O.T. (Saving Pets One at a Time), a sister shelter in the Burlington area, who shares APSFH’s mission as a no-kill rescue for adoptable homeless pets in need.
Tickets are $75 and all proceeds benefit the Animal Protection Society – Friday Harbor and S.P.O.T’s daily operational expenses.
For more information or to purchase tickets online, CLICK HERE.

Remodeled One Level Home in Excellent Anacortes Location

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2918 M Ave. in Anacortes (MLS 1206280) is a remodeled one level home on a corner lot in an excellent location!

Enjoy views of Mt. Baker, Cap Sante, & the marina from your remodeled kitchen with granite counters, new appliances, new hood, new sink and faucet.

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The open floor plan allows you to enjoy the warmth of the fireplace insert throughout!

One of the doors of the attached 2 car garage is 10′ high, plus there is an additional detached garage/shop with WC, a concrete pad for RV, the patio is wired for hot tub, lovely fruit trees and lots of room for toy storage.

Contact Jean Groesbeck & Assoc. LLC, licensed under Coldwell Banker Bain, DAILY at (360) 941-3734 or Jean@JeanGroesbeck.com for all of your real estate needs.  Jean Groesbeck & Assoc. LLC is located in Old Town Anacortes at 809 7th St.

Stunning Contemporary NW Architecture in Anacortes

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4302 Marine Heights Way (MLS 1201903) in Anacortes is a stunning Northwest contemporary home featuring gorgeous panoramic views of the San Juan Islands, Burrows Bay and the Olympic Mountains and is listed for $1,350,000.

Built in 2011, the home offers a lovely open floor plan among 2,531 SF with 3 beds and 2.25 baths.  The master bedroom is large and has a luxurious and spa-like master en suite.

Additionally, the home has a huge modern kitchen with Liebherr fridge and multiple chefs’ stations and a large slider to the patio leads to outdoor living areas including a fireplace, swim spa and stone built-in bars; the home also features steel & glass softened with wood beams, wood wrapped windows and gorgeous built-ins.

For additional information about this must-see Anacortes property or for any of your real estate needs throughout Skagit County and beyond, Team Groesbeck is available daily to work for you.

Located at 809 7th St. in Old Town Anacortes, Jean Groesbeck & Assoc. LLC is licensed under Coldwell Banker Bain and can be reached at (360) 941-3734 or Jean@JeanGroesbeck.com.

Move-In Ready, Single Level Home in Skagit County

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1803 E Fox Hill St. (MLS 1204699) in Mt. Vernon is a move-in ready and spotless one level home located on a quiet cul-de-sac, listed at $250,000.

Featuring 3 total bedrooms including a spacious master suite and 1.5 total baths, the home’s fully fenced yard has a shed for additional storage, as well as raised flower beds, compost box, patio, dog kennel on a concrete slab with dog house and plenty of room for an RV!

The attic was also configured to provide additional storage space.

1803 E Fox Hill St. is located just two blocks to College Way, which makes for easy access to I-5 and travel about Skagit County.

For additional information about this property or to schedule a showing, please contact Jean Groesbeck & Assoc. LLC, licensed under Coldwell Banker Bain, at 809 7th St. in Old Town Anacortes.  Team Groesbeck can be reached daily at (360) 941-3734 or via email at Jean@JeanGroesbeck.com.

Selling Your Home? Be Informed of the Seller’s Disclosure!

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The seller’s disclosure form is an important form that must be completed by everyone selling a home.  The form is comprised of various questions about your home that you may not have considered since you purchased the property yourself.

As it is one of the documents that the buyer will most closely look at, all questions need to be answered to the best of your knowledge. If they are not, it may delay the closing process and prompt even further questions from the buyer.

Fortunately, there are a few ways to put your mind at ease while completing this very detailed, legally-binding document!

  • Research your home. If you have recently moved into your home then you likely have much of the necessary information accessible, as it was made available to you when you purchased the home. If it has been a decade or so, you may have to do some digging through old paperwork to find information such as the make, model, and age of various components of your home (HVAC system, water heater, etc.). Buyers will want to note this information to see what kind of money, if any, will need to be spent upon moving in.
  • Be as accurate as possible. You hopefully had an inspection done when you moved into the home, which should be able to give you information on the roof, plumbing, electrical, etc. While doing your research, try to be as accurate as possible rather than guessing when something may have been installed or replaced.
  • Honesty is the best policy. Answer all questions to the best of your ability. If there is information to which you do not have access or a question is not applicable to your property, note that in the seller’s disclosure form. You do not want to appear ill-informed about your home and want to offer up as much information to the buyer as possible.

Remember, the seller’s disclosure form is a legally binding document that is required of all home sellers; however there is no reason to be intimidated by it! Just make sure you are aware of what has been done in your home and which things potential buyers may take issue with. This will help both the home selling and buying process go smoother than you can imagine!

Contact Jean Groesbeck & Assoc. LLC daily for more information on what to take into consideration when buying or selling your home at (360) 941-3734 or Jean@JeanGroesbeck.com.

Fall Safety Tips for Your Pets

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Keep your pets safe all year long! Here are some things to consider now that Fall is underway throughout Skagit County and Anacortes:

  1. Beware of anti-freeze! Ingesting antifreeze is lethal. Make sure to check your car for leaks and make sure all bottles are stored far away from your pets as its sweet taste may be tempting to an animal.

 

  1. Don’t leave your pets outside for prolonged periods of time. It doesn’t have to be Winter for it to get cold–especially for puppies, senior pets and smaller animals.

 

  1. Beware of ticks. It’s still tick season and playing in the cool autumn leaves is one of the many ways your pet could get them. Consider using a natural tick repellent to help protect your pet.

 

  1. Let them have their fur coat. If you have a dog that you shave during the summer, let him start growing his coat back in the fall. Just like you need your Fall/Winter coat, he’ll needs his too.

 

  1. Check your pet ID tags and microchip. Take the time to make sure all your pet’s information is up to date and in proper order.

 

  1. Make holiday arrangements with your dog walker, pet sitter or doggy day care early. As the holidays approach, most of us will get busier and possibly have to travel. Take time out and plan ahead so you can make the holidays easier on your pets.

 

  1. Visitors for celebrations. Fall holidays and events such as Thanksgiving and Halloween often mean people coming over to visit your home. If you have a pet that has special needs or is wary of new people, be sure to tell your guests about your pet before they come over.

 

  1. Make sure your pets can’t escape through the main entrance of your home. This is especially important if you plan on having several guests in and out of the house this holiday season. It may be worth investing in a baby gate or creating some kind of barrier between the door and your pet, especially if you have pet that’s known for bolting.

 

  1. Be careful with holiday treats. Aside from known hazards such as chocolate, items such as cooked bones, raw bread dough and many fruits and vegetables can also be life threatening to pets.

 

  1. Be careful with decorations. Many shiny new decorations look like really fun toys to your pets. Make sure decorations are out of reach because many of them contain toxic metals and can become choking hazards.

For additional information or for all of your real estate needs, contact Jean Groesbeck & Assoc. LLC in Old Town Anacortes.  Team Groesbeck is available daily at (360) 941-3734 or via email at Jean@JeanGroesbeck.com.

 

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