Blogs By Brian

Good news for first time home buyers with the Housing and Economic Relief Bill signed today (July 30,2008) by President Bush!  

In the bill, first time home buyers who purchase between April 9,2008 and July 1, 2009 will receive up to a $7,500 tax credit!  

For those who have been waiting, now is the time to buy. With this bill it is likely to turn things around in the housing market, which means purchase prices will likely go up in the coming months. Interest rates are still around 6.5%, which is historically low, but they might go up in the next few months.  

 If you are considering making a purchase, now is the time to talk to a real estate professional and mortgage professional to see if it is the right time for you to buy a home.  

Here are some links that might be of interest to you:  

 Info on the First-time homebuyers tax credit  

Brian's Blog with links to articles about the housing bill  

 Real Estate Professional - Brian Solinsky's email  

Mortgage Professional - Lissa Solinsky's email

Relief for many homeowners facing foreclosure looks to be on the way as President Bush signs into law the Housing and Economic Recovery bill. In an article by JENNIFER LOVEN, Associated Press Writer, the bill takes "several approaches to curing the ailing housing market".

 HENRY J. PULIZZI and MICHAEL R. CRITTENDEN write in the Wall Street Journal about different aspects of the bill and how it is meant to stimulate the housing sector.

For those facing foreclosure, the bill looks to provide options and counseling to restructure loans for homeowners to keep their home.

First time home buyers benefit with a tax credit if they purchase a home or condo between April 9, 2008 and July 1, 2009. A tax credit of up to $7,500 could get those buyers that are on the fence to make the move.

Overall, the bill looks to provide relief and the potential for growth in the housing sector, while also giving aid to Fannie Mae and Freddie Mac.

The third week of July in the Puyallup Real Estate market can be marked by steady consistency. Pending sales rose for the third consecutive week, which is a sign more buyers are out there and more are making offers on homes.

Sold listings remained the same from week 2 to week 3 of July in Puyallup. More homes were on the market in Week 3 of July as well. With more homes on the market and the same number of solds, it appears the Puyallup real estate market is moving slightly in the buyers direction this week. The increase in pending sales is off-set by the increase in active listings.

Homes priced in the $200,000 - $260,000 range reported the most solds and the most pendings in week 3. The highest price sale this week was $415,000.

When searching for homes and/or looking to sell your home, be sure to choose a REALTOR you trust to know the market. Thousands of dollars can be gained or lost based on market conditions in your area.

This week I have found Trey Affolter's blog to be an inspiration due to it's content and the way he has taken on producing quality posts in such a short time on Active Rain.

Trey has a cool logo too!

Not only is Trey a great agent, but the volunteer work he does at the Boy's and Girl's club of Tacoma provides hope to some of the neediest kids in the area.

One way Trey provides hope is through his feature of  Lexi Bonner in Realtors, Family & Friends support 2 yr old Lexi Bonner & her Battle.

Take a look at some other great posts by Trey like

McChord Air Expo 2008 feat. the Thunderbirds - Tacoma, WA

American Lake - Tacoma, WA (Pierce County) Recreation, Beauty & Homes

 The Open Championship - 2008, Share your thoughts???  

Widgets can Jazz up your message!

Congratulations, Trey! You are the featured Blog Artist of the Week! Thank you for providing great information, pictures, and links.

Puyallup residential real estate pending sales were up from the previous week, which is a sign the real estate market in Puyallup is making the turn towards a sellers market, however it has a long climb to get there.

Buyers still have a significant advantage when purchasing in Puyallup. Oftentimes, sellers are paying the closing costs for buyers as an incentive to get a buyer to make the purchase. Some sellers are even providing downpayment assistance, in an FHA program such as Nehemiah or the Grant America Program. Several other grant programs are FHA and HUD approved and can be found on the FHA Grant website.

Many buyers are finding homes that are bank owned or in pre-foreclosure. These properties can typically be purchased for under market value as banks are trying to rid themselves of holding these properties and owners are trying to save their credit by selling before a foreclosure.

When looking to purchase these properties, buyers must be aware there are some risks involved. Banks usually have their own set of documents or addendums that the buyer must sign in order to purchase. In most cases, the bank documents weigh heavy on the side of protecting the bank in the transaction. When looking to purchase a short sale property, Washington State buyers need to be aware of the new Distressed Property Law that went into effect on June 12, 2008.

Generally, in Puyallup the real estate market is steady and showing signs of improvement. Talk to a real estate professional for more details about specific neighborhoods within Puyallup. Brian Solinsky studies Puyallup neighborhoods to know what is available and can help on pricing. Whether you are buying or selling in Puyallup, the Solinsky Home Team is a great place to start.

This new Hands Free Driving law has got me all worked up. So hard to remember my keys and wallet, let alone my cell phone and now my bluetooth.

Last week I wrote a blog on the new LAW - Hands Free Driving, but I gotta hand it to Trey Affolter who posted a blog titled, Pssst...Hands-Free Law now in effect. In it, there is a link to this You Tube video that you just gotta see.

Video - Click Here!

I was laughing so hard my stomach hurt and just had to share with my readers too. Thank you, Trey for the laughs.

Drive safe!

Looking for convenience on Puyallup's South Hill could not be easier than a quick drive into Pit Stop Express.

Located just off the freeway on South Hill Park drive, next to Bethany Baptist Church, Dennys, and Holiday Inn Express.

Directions Pit Stop.

When you pull into the parking lot you will find lots of other people like to use the convenience of this location as well.

Surprisingly, service is quick and easy as should be expected at a Pit Stop. They want to get you back on the road as quickly as possible.

Drive right up to the front door and run inside to grab a Red Bull,

fill up a fountain soda, or use the restroom (always kept clean).

As you can see the car wash service is touch free. No bristles touching your car to make those nasty scratches you can never get out.

You can pay at the Car Wash entrance or get your receipt inside after pumping gas.

My favorite Car Wash day is Monday, because it is manager special day when you can get the Night On the Town, full-service wash, for just $9,99.

With Night on the Town you get wax and tire buffing along with a great wash.

On days other than Monday you can still find terrific service with reasonable prices on the car wash of your choice.

A typical car wash takes about 10 minutes. Be sure to ask for a dash towel too.

Pit Stop is the place I like to go for convenience when I am in a hurry. It doesn't take long to drop by and fill up my drink (pop refills are only 97 cents). Others enjoy the Bigfoot Java and the Subway that are in the same location.

If you live in Puyallup or are just driving through, make Pit Stop the place to take a break, fill up the tank, and then get back on the road.  

For current Puyallup weather and other places of interest in Puyallup, click here.

Brought to you by the Solinsky Home Team.

News on Friday, July 11th, shows once again the volitility of our market. Fannie and Freddie are in trouble and facing the possible need for further government assistance.

If you are in the real estate business you need to be aware of what is happening with Freddie and Fannie. I don't completely understand it, but it helped to read this article, "Economic Storm Brews as Fannie, Freddie pushed to the brink" by Rob Lever.

 Weigh-in with your thoughts on the situation with Freddie and Fannie. What do you see as a solution?

Is a government take over the best scenario for our nation?

Have we hit bottom or is there more fallout in our future?

I want to read about something positive that will come out of all this.

Yes, the Active Rain Running Challenge continues. My 20 minute workouts, at least 3 times a week are getting easier as I enter week 5.

The past couple workouts have been in the evening, as the sun is setting, and the heat of the day settles into the night sky. One night was a series of basketball games with some friends on the Sport court.

It was a tough night after a full Bar-Be-Que with steak, potato salad, hot dogs, and salmon (Yes, I sampled each, okay I ate large). The court was not friendly to me and after about an hour of straight two on two with some of the toughest hoopsters around, I was ready to lose my din-din.

The next night I just had to get out and run, so I put on the headphones and went out the door, listening to some Floyd Wickman to inspire me.

Yes, Floyd, I am committed, reaching my goals, and living S.M.A.R.T.

Okay, all you Active Rain members, time to jump on-board and get into the Active Rain Running Challenge (it's okay to walk). As Floyd says, "you just gotta get the first shoe on".

Join the group and be inspired to get in shape in the Active Rain Running Challenge.

If you are not sure how to join a group go to Active Brad's blog on how to join Groups on Active Rain.

A month ago, my kids and I set out to review parks in Puyallup for all those kids out there that like to play and for parents who like to find a place to take their kids.

We started with a review of Rainier Woods Park, also known as Picture Park, as my kids call it.

Bradley Lake Park - soon to open the new and improved play area. According to my new friend, Matt, who I met at Peach Park, the new Bradley Lake Play Area will be one of only three parks in all of Washington State that is designed for kids with special needs. According to the City of Puyallup, dedication is scheduled for July 26th at 10:00am.

Look for more park reviews coming soon.

CONTEST: Name the park you think will be reviewed next and you can win a prize. Here's how to enter:

Email your Name, Address, and Phone number with your answer to

brian@briansolinsky.com

Make sure to enter before the winning blog is posted!

Also, if you would like to see a park reviewed, let us know and I'll take the kids to do a review.

In Washington State a new law went into affect on July 1st, requiring drivers talking on cell phones to be hands free. The new law is meant to make the roads safer for all drivers and I suppose it is a good law to keep people focused on the road.

What I have experienced in the past week is some difficulty making the adjustment. First, I found a bluetooth that I thought would work for me, which took time to research and money to buy.

I decided on the Plantronics  model for a cost of about $60.

After finding the one for me, I then went to connect it with my Treo Palm, which was only a problem because I didn't know the password, but after looking through the manual found it to be easy to sync.

Once having my phone and bluetooth in sync it was time to hit the road. Does anyone else feel like an alien with that thing hanging from their ear? Well, I did, so I took it off.

Now here is where I feel it is more dangerous with the new law, but I really don't want a ticket.  

While driving, my ringtone interrupted my concentration and things got a bit hectic. Rather than just answering the phone as usual, I now had to find my bluetooth, tossed in the passenger seat, hook it to my ear, press the button and hope it all worked.

Well, it didn't. Apparently, I had to turn the bluetooth on with the phone, then push the little button on the bluetooth to answer my call.

I missed it - the call I mean -and my next turn.

So, I then checked my voicemail, still careful to follow the rules of the road so not to end up like this guy.

or get a ticket from the guy in my rearview mirror.  

In the end, I was able to call the person back on my bluetooth and make it safely to my destination. Hopefully, I'll get better at this with more practice, but at this time, I think it is just as dangerous with the new law.

Let me know your thoughts or experiences with cell phones and driving, especially if you are in a state with a hands-free law.

Puyallup real estate continues to see more activity. Following a June that witnessed the most solds in a month so far this year, the first week of July continued to show an increase in activity.

There were three times as many solds in the first week of July as compared to the first week of June 2008. Interestingly enough the number of active listings in Puyallup dropped from 980 in the first week of June to only 904 in the first week of July.

The trend developing is fewer homes on the market and more people buying homes, which tends to lead to an increase in market value.

Continue to watch what happens throughout the summer to see if Puyallup remains on the road to a more balanced market.

For more information about specific neighborhoods in the Puyallup and Pierce County area, visit the Solinsky Home Team.

The last week in June is Hoopfest Weekend in Spokane. Our family travels over the Cascade Mountains every year to participate in the largest 3 on 3 street basketball tournament in the world. Here are some pics from this year's event:

Taylor and Tanner Hoop It Up at the Wired 96.9 booth!

Tanner Shoots to Score!

Game Played on Thomas Hammer Coffee Court #1             Taylor Watches Her Dad Play Basketball

So much went on at Spokane Hoopfest - See more about the event here.

See more Hoopfest 2008 photos.

Team Mulder finished with a 4-2 record and 4th place in their 17 team bracket. Read more about the team.

Hoopfest Day 1

Hoopfest Day 2

Visit the Solinsky Home Team for all your Puyallup and Pierce County Washington real estate needs!

In an earlier post, I shared the story of a condo conversion in Tacoma that displaced dozens of seniors in a 55 and over community, while only a few were able to stay in their "converted homes".

Now a year later, the condos are listed $90,000 below what tenants had to pay a year ago to keep their homes. A majority of the units remain vacant and the builder/investor is having financial difficulties.

The grounds have been left in shambles and the conversions have stopped due to a lack of sales in the complex.

Items that were to be completed by the builder a year ago still has not been completed. These are not minor problems either. In Mimi's unit gutters were not placed properly and caused dry rot to develop along the chimney. According to walk-through documents, these items were to be fixed immediately, but still have not been completed.

On top of that, now the builder has determined to rent the remaining units, which looks to further lower the value of the units purchased. And this is only part of the story.

This is a travesty, in my opinion. How these seniors, renting homes in a 55 and over community can be treated in this way is beyond me.

What can be done at this point for those who purchased these condos gone bad? What can be done to protect our seniors at a time in life where change can be a real life and death struggle?

It breaks my heart to see these people hurting due to the greedy investor who treated them like dirt.

A year ago my wife's grandma, Mimi, age 88 was faced with a difficult decision. She was living by herself, renting one of over 100 condos in a 55 and over community in the North end of Tacoma. Her unit was the place she wanted to spend the rest of her life.

Then, an investor came swooping in and told all the tenants they had 90 days to buy their unit or move out. The messenger to these seniors was short and abrupt while knocking on doors, leaving a huge packet of information that most of these folks would have a hard time reading and more importantly understanding.

The investor started to make changes immediately to "improve" the units. Tearing the complex apart, while tenents were forced to make the difficult decision to buy or move.

As the weeks went by, very few tenants had the ability to buy their unit at the price required to keep it, well above market value at the time.

Mimi was determined to stay in her home and was fortunate enough to have family members willing to pay cash for the condo, despite the high price.

Once the time period had come and gone only 14 units were sold and over 50 seniors were displaced by this hard line investor looking to turn a heafty profit.

See what is happening now in Part 2!

Recently, lenders have tightened the screws on providing loans to buyers wishing to purchase a condo, especially if it is a condo conversion.

In June 2008, a highly qualified buyer decided to rent out his 3 bed/2.5 bath/2500 sq.ft. home and purchase a condo to use as his residence. It was a move that made financial sense to him with the market we are currently in and with his financial situation.

He found a condo the met his needs in a location that worked with some very nice amenities and worked with his agent to negotiate a lower purchase price and his closing costs to be paid by the builder. With the ability to put 5% down on the purchase, it appeared to be a slam dunk transaction.

However, when he went to get a loan, things got rough. The first lender approved the buyer without a problem, but didn't believe the buyer was going to occupy the condo. Even with a letter from the buyer, stating he would live in the condo for 12 months, the lender still turned him down.

After two weeks with the first lender, it was nearing the closing date, so the buyer went to another lender. This lender had no problem with the buyer, but would not loan on the condo project due to it being a conversion.

Another week went by and it was crunch time for the buyer. Lender number three was fine with the buyer and with the building, but had issue with the insurance policy being held by the builder at the time of purchase. Three weeks and three extensions later, the buyer finally was able to close on the condo and scrambled to get moved out of his previous residence, now a rental, and into his condo, now his residence.

Buyers beware of condo projects, especially conversions and connect with professionals who can get you through the grueling process if you want to buy one of these units.

June 2008

 The Puyallup condo market looks to be making a shift in the seller's direction in the month of June. Pending sales and closed sales were up in June compared to May 2008. There are many condo projects around Puyallup that are providing incentives for buyers to make a move.

With the median sales price dropping below $200,000 for a condo in Puyallup, it is affordable for many home buyers. The problem can come with getting approved for a loan on some condo projects, especially if it has been converted from an apartment to a condo. See the story of one buyer who experienced difficulties in an upcoming blog post.

Working with the right professionals can make all the difference in this market. Be sure to get with a lender who knows about condos and condo conversions projects, then meet with a real estate agent who is up-to-date on condo projects in your area to assist you with a purchase.

Find a lender that knows condos at West Valley Mortgage and contact the Solinsky Home Team to find a real estate professional to assist you.

June 2008

The Puyallup Residential real estate market is showing signs of change. Buyers are still experiencing the edge when it comes to purchasing a home, but there are indications that change is on the way. There were fewer active listings in June as compared to May and there was a significant increase in the amount of pending sales.

With pending sales at the highest level of 2008 and the number of active listings on the decrease, it appears we are heading towards a shift in the market. When there are fewer homes available and more buyers purchasing you can expect to see prices increase.

On the flip side, closed sales were down in June 2008 compared to May. The reason for this could be that interest rates creeped up for much of the month, before sliding back down again near the end of June. There is no telling where interest rates are heading in July. With the threat of inflation and an economy in flux, it indicates a possible increase in interest rates for the future.

The window of opportunity for lower home prices and low interest rates is still here, but key indicators point to a change on the horizon. If you plan to buy, now is a great time to get pre-approved and contact a real estate professional to walk you through the process.

Visit the Solinsky Home Team  for more information about listings in your area.