Maple Valley Real Estate Online

3.8% TAX TO GO INTO EFFECT IN 2013

2012-05-22T09:00:00.000-07:00

The health care legislation enacted in 2013 included a new tax that was designed to affect upper income taxpayers. Understand this tax will not be imposed exclusively on real estate transactions. The tax is NOT a transfer tax on real estate sales and similar transactions.

Rather, when the legislation becomes effective it may entail a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). These items are all included in an individual's adjusted gross income (AGI). The tax will fall only on individuals with an AGI above $200,000 and couples filing a joint return with more than $250,000 AGI

The new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence. Thus, ONLY that portion of a gain above those thresholds is included in AGI and could be subject to the tax.

Tax payers should familiarize themselves with the tax. The amount of tax will vary from individual to individual because the elements that comprise AGI differ from taxpayer to taxpayer. Contact me today for a referral to a licensed tax professional.

Find the Right Neighbohood for your Nest

2012-05-11T09:00:00.000-07:00

There is no substitute for the feeling you get when you walk through the perfect neighborhood. Depending on your own particular needs and tastes, some of the following factors may be more important considerations than others. Sitting down and determining if a particular community is going to meet your needs is the first step on the path to finding the perfect place for you to call home. Determine if an area meets your requirements for the following factors:

Schools
Property Values
Traffic
Crime Rates
Proximity to your daily routine:
• Work • Gym • Parks • Grocery Stores

Buying a home in the right neighborhood is also an important investment. We can look at the neighborhood demand by finding out whether multiple offers are being made, whether the gap between the list price and sale price is decreasing, and whether there is active community involvement. You may also want to look for communities that are likely to become “hot spots” in the near future.

Once you pick your perfect community, you can track listing activity at johnlscott.com with the Neighborhood Tracker feature. Be the first to know when there are:
• Newly listed properties | Listing price decreases (or increases)
• Status changes such as when listings change to pending or sold or come back on market.
• Scheduled open houses

You can also track listing activity in your desired neighborhood on the go, with the John L. Scott Mobile App, which can be downloaded from the johnlscott.com site, the Andriod Google Play Market or through the iTunes store. Staying on top of the latest listing activity will help ensure you are “buyer ready” when your dream home, comes on the market.

2012 Fishing Derby at Lake Wilderness

2012-05-10T09:00:00.000-07:00

2012 Hooked on Fishing Derby was a huge success!

A big Thank You to all our volunteers: Ping Chen, Pam McCain, Bo Burridge, Mary Easton, Berthy Carson, Marney Hadley, Jack and Kim Emmons!!

Low-Maintenance Lawn Alternatives: Ground Cover

2012-04-16T09:00:00.000-07:00

If you want a yard that demands less time, money, and water, consider ground cover rather than a traditional lawn.
By: Laura Fisher Kaiser

Americans have long had a soft spot for lawns. Turf grass covers nearly 47 million acres in the U.S., according to the Lawn Institute. But there’s plenty that’s not green about all that green. For starters, the average household dumps 60 gallons of water a day on conventional lawns. Toxic lawn herbicides and pesticides run off into lakes and streams. Gas-powered mowers spew pollution into the air. And then there’s all that time spent watering, weeding, seeding, sodding, thatching, and mulching.

If you’re looking for an alternative, consider replacing some or all of your high-maintenance turf with ground covers that form walkable “carpets,” and innovative grasses that require little or no water or mowing once established.

In turn, you’ll reduce the need for irrigation, stop washing harmful chemicals into the watershed, add depth and texture to your landscape, and spend your spare time enjoying your yard instead of manicuring it.

Creeping perennials, clover, and other ground covers

There’s a ground cover to meet most needs, whether you’re planting a pathway, a hedge, or a broad swath of green. They run the gamut of foliage textures and colors, and many have wonderful flowers. Some varieties are ground-hugging and feel delicious under bare feet. Others grow up to two feet tall, making them ideal as barriers or landscape punctuation.

Look for attributes that meet your needs: child-durable, deer-resistant, drought-tolerant, shade-loving. Mixing them up is not only aesthetically pleasing, it’s also good for the landscape: Diversity increases resistance to pests and disease and reduces the need for fertilizer and pesticides. Here are some popular choices.

Creeping perennials: Tight to the ground, these plants are especially good for cushy green carpets. They keep out weeds and allow air, water, and nutrients to get to plant roots. Many work equally well in rock gardens or in crevices between stepping stones, in full or partial sun. These include mat-forming New Zealand Brass Buttons (Cotula squalida) and Scotch or Irish Moss (Sagina subulata), which isn’t a moss at all but a perennial that forms a cushiony blooming carpet.

Some, like Blue Star Creeper (Laurentia fluviatilis), which has tiny green foliage, bear up to heavy foot traffic. Creeping Jenny (Convolvulus arvensis) has an extensive root system that makes it quick to spread and tough to kill. That’s a good thing if you’re looking for a tough turf alternative but a problem if it creeps into beds where you don’t want it.

Besides being good creepers, many ground-hugging perennial herbs are often nicely scented, hardy under foot traffic, and even edible. These include chamomile (Chamaemelum nobile), which has fern-like foliage and white flowers with yellow centers; Corsican mint (Mentha requienii), which thrives in shade, exudes a minty smell when trod upon, and is edible; and various thymes (Woolly, Red, Prostrate), which feature dainty flowers and work well between pavers or as a low mounding carpet.

Creeping perennials cost $6 to $10 per plant. A 15-by-20-foot area with plants 2 inches apart (for instant density) requires 300 plants. But if you’re patient enough to wait a year or so for them to spread, you can buy fewer plants and space them 12 inches apart.

Clover: Although clover has gotten a bad rap as a weed, it’s actually not a weed at all. In fact, a clover lawn (or, for high-traffic areas, a clover-grass mix) has many advantages. Sweet-scented, inexpensive, and quite durable, white clover (Trifolium repens) grows in any kind of soil, stays green even during low-water periods, and feels lovely underfoot.

Low-growing clover doesn’t need regular cutting, nor does it need fertilizer, but an occasional mow will encourage new growth and discourage bees. If you don’t mind the bees, consider letting your clover bloom, which benefits the bees and the environment. Clover is one of the least expensive groundcover options, costing about $4 to seed 4,000 square feet.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Scoring Big with Good Credit

2012-04-13T09:00:00.002-07:00

If the idea of getting up close and personal with your credit score leaves you feeling overwhelmed, take a deep breath and take heart in the famous words of Sir Frances Bacon: “Knowledge is power.” The more you know about what goes into your credit score, the easier it will be to maintain a good one. A good score can translate into powerful savings on everything from insurance to the purchase or refinancing of your home. Here are a few tips to build and maintain a healthy credit score.

Make timely payments
Lenders are looking for a consistent pattern of on time payments. Making timely payments for all your bills, not just your credit cards and loans, will help you maintain a good credit score.

Keep old credit card accounts open
Even after you have paid off a credit card, don’t be too hasty in closing the account, because the credit scoring formula places less weight on inactive accounts.

Keep your balances and debts low
Having too much debt can cost credit score points. The higher your credit card balance is, the worse your credit score will be. Your credit card balance should be within 30% of your credit limit to maintain a good credit score.

Open new credit sparingly
As tempting as those 5000 bonus points or 20% discounts seem, try to limit the number of applications you submit for new credit cards. Each time you apply for credit, or a loan, the credit inquiry negatively impacts your credit score. Maintaining the cards and lines of credit that you have already established is the better way to go.

Monitor your credit report
Take advantage of your right to get all three of your credit reports. You can visit www.annualcreditreport.com to order your free credit report from each of these three major bureaus.

A GREAT COACH ONCE TOLD ME, “ALWAYS BE READY TO WIN”

2012-04-11T09:00:00.000-07:00

In today’s real estate market of low interest rates and opposing offers on well priced housing inventory, prospective home buyers must be “ready to win” when they find the right home. The best way to be “ready to win,” as a buyer, is to get pre-approved by a reputable mortgage lender.

To shed some light on the pre-approval process, when you speak with a lender to get pre-approved for financing, your home mortgage consultant will discuss where you have resided and been employed for the past two years. They will also review your income, assets and credit report with you. In preparation you may want to review your bank statements and decide how much you want to spend on the down payment, closing costs and how much of your savings you would like to retain after closing. Be thorough with your lender and include retirement account savings which can help to solidify a mortgage application even if they are not utilized for a down payment.

Ask questions of your lender to find the loan program that is most beneficial to you. For instance what kind of low down payment options are available? Which loan programs allow gifted funds for down payment?

Luxury home buyers may want to discuss conforming versus non-conforming loan options to evaluate monthly payment options between the two. The length of time you plan on owning the home can also factor into your ultimate mortgage decision

There have been numerous articles written lately about the difficulty of getting approved for a mortgage in today’s market. While mortgage underwriting standards have tightened over the past few years, there are plenty of buyers who have been able to obtain financing and take advantage of today’s remarkably low interest rates.

My hope for you, is that armed with the information above, you will feel confident in pursuing a pre-approval to ensure you are “ready to win” when you find the right home. I can connect you with a Home Mortgage Consultant who can suggest the best loan for you and help you to get pre-approved.

Sound the Alarm! Carbon Monoxide 411

2012-04-06T09:50:00.002-07:00

On April 1st 2012, newly passed, carbon monoxide detector rules went into effect in Washington State. Here is the most up to date information on these new rules:

• Carbon monoxide monitors must be installed in all NEW residential construction.
• All SELLERS of residential property must install carbon monoxide alarms prior to closing.
• There is NO REQUIREMENT for installation of carbon monoxide monitors in tenant-occupied housing, unless and until the property owner pulls a permit for interior remodeling.

Carbon Monoxide detector legislation is of such great importance because between 1990 and 2005 CO2 killed over 1,000 Washington residents. CO2 is a poisonous gas that cannot be seen or smelled, and can become deadly within minutes. It is produced by many common household appliances, such as gas or oil furnaces, gas refrigerators, gas clothes dryers, gas ranges, gas water heaters or space heaters, fireplaces, charcoal grills, and wood burning stoves.

Automobile fumes and gas-powered lawn mowers also contain carbon monoxide that can enter a home through walls or doorways if an engine is left running in an attached garage.

Even if none of the above requirements apply to you, you still may want to consider installing a CO2 alarm in your home. They can be purchased for around $25 from your local hardware store and are relatively easy to install.

If you have any questions about these new carbon monoxide rules and regulations please don’t hesitate to contact me, I am here to help you keep your home safe and sound.

12 Simple Home Repair Jobs to Lift You Out of Winter’s Funk

2012-03-26T09:00:00.000-07:00

Winter’s doldrums got you down? Grab a screwdriver and a hammer and fight back with easy home repairs that’ll raise spirits and get your house ready for spring.
By: Jeanne Huber

Accomplishments — even little ones — go a long way toward a sunny outlook. Fortunately, there are plenty of easy, quick home repair chores you can do when you’re mired in the thick of winter. For max efficiency, make a to-do list ahead of time and shop for all the tools and supplies in one trip. On your work days, put the basics in a caddy and carry it from room to room, checking off completed tasks as you speed through them.

What to look (and listen) for

In each room, look around and take stock of what needs fixing or improving. Focus on small, quick-hit changes, not major redos. Here are some likely suspects:

1. Sagging towel rack or wobbly toilet tissue holder. Unscrew the fixture and look for the culprit. It’s probably a wimpy, push-in type plastic drywall anchor. Pull that out (or just poke it through the wall) and replace it with something more substantial. Toggle bolts are strongest, and threaded types such as E-Z Ancor are easy to install.

2. Squeaky door hinges. Eliminate squeaks by squirting a puff of powdered graphite ($2.50 for a 3-gram tube) alongside the pin where the hinge turns. If the door sticks, plane off a bit of the wood, then touch up the paint so the surgery isn’t noticeable.

3. Creaky floor boards. They’ll shush if you fasten them down better. Anti-squeak repair kits, such as Squeeeeek No More ($23), feature specially designed screws that are easy to conceal. A low-cost alternative: Dust a little talcum powder into the seam where floorboards meet — the talcum acts as a lubricant to quiet boards that rub against each other.

4. Rusty shutoff valves. Check under sinks and behind toilets for the shutoff valves on your water supply lines. These little-used valves may slowly rust in place over time, and might not work when you need them most. Keep them operating by putting a little machine oil or WD-40 on the handle shafts. Twist the handles back and forth to work the oil into the threads. If they won’t budge, give the oil a couple of hours to penetrate, and try again.

5. Blistered paint on shower ceilings. This area gets a lot of heat and moisture that stresses paint finishes. Scrape off old paint and recoat, using a high-quality exterior-grade paint. Also, be sure everyone uses the bathroom vent when showering to help get rid of excess moisture.

6. Loose handles or hinges on furniture, cabinets, and doors. You can probably fix these with a few quick turns of a screwdriver. But if a screw just spins in place, try making the hole fit the screw better by stuffing in a toothpick coated with glue, or switching to a larger screw.

Safety items

You know those routine safety checks you keep meaning to do but never have the time? Now’s the time.

7. Carbon monoxide and smoke detectors. If you don’t like waking up to the annoying chirp of smoke detector batteries as they wear down, do what many fire departments recommend and simply replace all of them at the same time once a year.

8. Ground-fault circuit interrupter (GFCI) outlets. You’re supposed to test them once a month, but who does? Now’s a great time. You’ll find them around potentially wet areas — building codes specify GFCI outlets in bathrooms, kitchens, and for outdoor receptacles. Make sure the device trips and resets correctly. If you find a faulty outlet, replace it or get an electrician to do it for $75 to $100.

Another good project is to replace your GFCIs with the latest generation of protected outlets that test themselves, such as Levitron’s SmartlockPro Self-Test GFCI ($28). You won’t have to manually test ever again!

9. Exhaust filter for the kitchen stove. By washing it to remove grease, you’ll increase the efficiency of your exhaust vent; plus, if a kitchen stovetop fire breaks out, this will help keep the flames from spreading.

10. Clothes dryer vent. Pull the dryer out from the wall, disconnect the vent pipe, and vacuum lint out of the pipe and the place where it connects to the machine. Also, wipe lint off your exterior dryer vent so the flap opens and closes easily. (You’ll need to go outside for that, but it’s quick.) Remember that vents clogged with old dryer lint are a leading cause of house fires.

11. Drain hoses. Inspect your clothes washer, the dishwashers, and the icemaker. If you see any cracks or drips, replace the hose so you don’t come home to a flood one day.

12. Electrical cords. Replace any that are brittle, cracked, or have damaged plugs. If you’re using extension cords, see if you can eliminate them — for example, by replacing that too-short lamp cord with one that’s longer. If you don’t feel up to rewiring the lamp yourself, drop it off at a repair shop as you head out to shop for your repair materials. It might not be ready by the end of the day. But, hey, one half-done repair that you can’t check off is no big deal, right?

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

Give Your Old CDs a New Purpose - Plus 3 More Tips To Repurpose Old Items

2012-03-20T09:00:00.001-07:00

By: Courtney Craig

Ah, the weekend! It’s a great time to relax, and to not think about the chores you should be doing, such as cleaning out your basement and attic, and — finally — getting organized.

You’re not a slacker — you’ve got energy. What you need are a few creative sparks that’ll make you roll up your sleeves and get going in the right direction.

Recently, I’ve come across some smart ideas for repurposing old stuff — fun and frugal ways that’ll help you declutter and keep your junk from ending up in a landfill. Here are some of my favorites:

Turn CDs into garden scarecrows

Chances are your music collection has gone all-digital in the past few years, leaving hundreds of old CDs sitting sadly in their jewel cases, with nothing to do except take up space.

Put them to good use by scaring birds away from your berry garden. Thread string through the hole in the CD and tie it off to make a large loop. Hang several CDs from a tree near your berry bushes. The shiny, moving objects will frighten birds, keeping them away from your sun-ripened berries.

Make a coat rack out of doorknobs

Do you have a collection of old doorknobs lying around? Put them to work again by turning them into a coat rack. Take four or five doorknobs — use a mismatched array for extra whimsy — and space them evenly apart on a piece of wood trim. Screw the knobs to the wood, then mount the wood to the wall. Voila — you have a new place to hang your coat or purse.

Use old pots for garden tool storage

Basements and garages are graveyards for old pots that became too small for grownup plants, kind of like the shells that hermit crabs vacate for a bigger home. Put these pots to good use by filling them with sand mixed with enough mineral oil to make it slightly damp. Stick your gardening tools in the sand for easy storage. The mixture protects tools from corrosion and rust.

Store tall tools in old golf bag

Perhaps it’s been years since you’ve teed off, or maybe you’ve just upgraded to a better bag, but here’s a new use for an old golf bag: Make it a home for your bigger gardening tools. Shovels, hoes, and rakes slide right into the compartments that once held clubs.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

Act Now To Avoid Higher FHA Loan Fees On April 1st

2012-03-15T10:25:00.002-07:00

You may be wondering just how the recent announcement by the US Department of Housing and Urban Development to raise mortgages backed by the FHA affects you. Given that FHA loans have soared in popularity in recent years, with around 40 percent of all new mortgages for home purchases in 2010 coming from FHA-backed mortgages, you are not alone in wondering just why and what these additional costs mean as you navigate the roads of home ownership.

According to the Department of Housing and Urban Development, the decision to raise fees is an effort by the FHA to recoup some of its depleted reserves, which suffered from a rising number of home owners who defaulted on their mortgages. Moreover, the FHA has stated the increase is also an effort to encourage more private capital to return to the market.

In terms of what this will mean for you, there are two fees you should expect, as a borrower, to see increase by this announcement. The first begins April 1 when annual mortgage insurance premium for loans under $625,500, will increase from a total cost of 1.15 percent of the loan amount to 1.25 percent. For larger loan premiums, the changes will take effect June 1, when an increase of 0.35 percent of a percentage point will be implemented, bringing the total premium costs up to 1.5 percent of the loan amount.

The second fee announced by the FHA will be a 0.75 increase of a percentage point to the upfront mortgage premium, which will now total 1.75 percent of the loan amount.

These changes result in an increased mortgage payment. For example, for a $200,000 FHA loan will increase approximately $31/month and $39/month on a $300,000 FHA loan (this assumes the lender will finance in the Upfront Mortgage Insurance Premium which is typical).

While, the higher fees may initially leave you with a degree of sticker shock, keep in mind that the rise in higher fees would actually be relatively modest. Homebuyers are allowed to finance the upfront insurance premium into the balance of their mortgages which nearly all FHA borrowers select to do because it reduces their out of pocket costs at closing. Additionally, the annual premium is paid by borrowers on a monthly basis, further reducing the impact of the increase in fees.

To better understand just how your loan will be affected, I can connect you with a Home Mortgage Consultant. With the change to fees right around the corner, speaking with your Home Loan Consultant as early as possible will increase the likelihood of being issued a case number before the April 1 deadline. This also includes those who are considering a refinance. Your Home Loan Consultant can determine if a FHA loan is the best option for you and what you should expect come April 1.

Black Diamond Estate

2012-03-09T09:00:00.002-08:00

UPDATE 3/21/12: This home is now Pending

Fabulous Woodland Estates featuring 7 Estate size homes. Private natural setting, backs to greenbelt. 3,580 sq ft, 3 car garage, 4 bedrooms, 3 baths, bonus room, 2 gas fireplaces, laundry upstairs. Granite kitchen with stainless appliances, bar area! Downstairs bath has full shower. Large covered patio with gas line for BBQ's! Built in vacuum, air conditioning! 24x30 detached 3 car garage, bonus room with pellet stove, bath above garage, pool table stays! Fully landscaped with sprinkler system, fountain. Lots of extra parking, for toys!!

www.johnlscott.com/55501

Ravensdale Home On Acreage

2012-03-07T09:00:00.003-08:00

Update: Price Reduced to $315,000

Welcome Home!

$325,000

3 bedrooms
living room
kitchen with eating bar
dining room
large family room/bonus room
oversized garage
carport and a large shop
A slice country living all within minutes of shopping, freeway access and amenities. If you're looking for privacy, trees and room for all your toys, look no further!

www.johnlscott.com/84406

Tips to Save Your Storm-Damaged Trees

2012-03-06T09:00:00.001-08:00

Don’t assume your storm-damaged tree needs to be cut down. Trees can easily bounce back if you follow these tips for pruning and storm protection.
By: Dona DeZube

Many tree-care professionals don’t have experience working on battered trees, cautions Ed Gilman, a University of Florida professor who researches the restoration of storm-damaged trees.

Too often, inexperienced arborists recommend thinning interior branches. That’s exactly the wrong thing to do to avoid storm damage.

“For storm protection and recovery, you should be doing the opposite,” Gilman says. “Removing branches from the end of long limbs and retaining the interior branches.”

Even if a storm is strong enough to blow the leaves completely off a tree and bust branches, the tree can remain viable and ready for a comeback. “One episode from a storm is not enough to kill the tree,” Gilman says. The energy reserved in the tree’s roots and limbs will fuel new leaves either that year or the next year.

Storm recovery tips for trees
Remove broken, separated, or hanging branches, but don’t prune any live wood that’s healthy. The tree needs the energy stored in its limbs to heal itself.
Check for cracks where branches connect to larger limbs. If you see cracks, cut the limb back to the next healthy, whole branch.
Make smooth pruning cuts — don’t leave small stumps or ragged pieces jutting out from your damaged tree. Leave the collar — the thickened base of a limb where it attaches to the tree — intact. Collars help heal pruning cuts.
Straighten and stake a small damaged tree (4” trunk diameter or less) that’s knocked down. Water it frequently as you would a new tree.

When a tree can’t be saved
If a tree leans over your house, car, or areas where people walk or play, it has to come down.
If your tree is hanging over or touching power lines, removing it isn’t a do-it-yourself task. Call a professional tree removal firm for help.

Cost for tree removal varies according to the size and location of the tree. Expect to pay between $800 and $3,000 to remove a medium-sized tree.

Check tree roots after the storm

A few months after the storm, use a pitch fork to check the big roots coming out of the trunk to make sure they’re alive beyond the first foot or two of their length. Healthy roots are brownish or gray with hard, whitish centers. Dying roots are soft.

If your pitchfork hits solid root, great. If not, you may have to take down your tree before it falls down.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

Lake Wilderness Golf Course Home

2012-03-05T09:00:00.001-08:00

UPDATE 3/21/12: Price Reduced to $249,950

Great home in superb golf course location!!!

Soaring ceilings, formal dining room and kitchen, informal eating nook and family room. Light and bright with contemporary colors and ready to move in to! Energy efficient and great Tahoma schools! $274,950

www.johnlscott.com/41871

New Construction Homes In 55+ Community

2012-03-01T09:30:00.008-08:00

UPDATE 4/6/12: All 4 homes have offers on them

OPEN HOUSE

Sunday, March 4th, 1-4pm

26716 178th Loop SE, Covington

Come by for refreshments, cookies and to see these wonderful homes.

Covington Pointe: private, gated community for 55+. Extensive use of decorative millwork, chair rails, shadow boxes, designer light fixtures, porcelain tile, granite counter tops in kitchen and bathrooms, stainless appliance package and so much more! Enjoy one level living close to shopping and bus routes and located across from Multi Care Medical Center in Covington.

Prices starting from the low $200's.

www.johnlscott.com/75300

Refacing Your Kitchen Cabinets: The Options & Costs

2012-02-29T09:00:00.000-08:00

Want to reface your kitchen cabinets? Smart decision. It’s more cost-effective and takes less time than a full remodel. Here are options and costs.
By: Jan Soults Walker

Effort: Medium 2-4 days
Investment: Med $1,000-$3,000 (laminate refacing)

Refacing your kitchen cabinets includes covering the exposed frames with a thin veneer of real wood or plastic laminate. Doors and drawer fronts are replaced to match or complement the new veneer. New hinges, knobs, pulls, and molding complete the transformation.

Kitchen cabinet refacing pros
It’s about half the cost of a total cabinet replacement. You’ll also save the time, cost, and hassle of tearing out your old cabinets.

It’s a green kitchen remodeling solution because old cabinets stay out of the landfill.

You can continue to use your kitchen during refacing.

You’ll give your kitchen a new look in a week or less.

Kitchen cabinet refacing cons

Pricey options, such as expensive replacement hardware and exotic veneers, can drive up the cost of refacing and reduce savings.

Refacing materials can’t fix an inefficient layout.

What are your refacing options?

Your choices for the finished look of your cabinets is virtually limitless. Veneers are available in a wide variety of colors, patterns, textures, grains, and more, which you can mix or match to get a relatively low-cost kitchen facelift.

Rigid thermofoil (RTF) doors, which feature a durable plastic coating over fiberboard, are an affordable alternative to wood or laminate doors.

Plastic laminates come in hundreds of colors and patterns, are durable and moisture-resistant, and are reasonably priced. You can pick matching or contrasting laminates for your doors and drawer fronts.

Real wood veneers include many standard species, such as oak, cherry, and maple, and you also can choose from an array of stain colors. Wood veneers are the most expensive option. Wood must be carefully sealed to protect against moisture.

Further customize and update the look of your cabinets with new kitchen cabinet hardware.

What does refacing cost?
A professional cabinet refacing for a typical 10-by-12-foot kitchen starts at around $1,000 to $3,000 for laminate. Expect to pay $2,500 to $6,000 for real wood veneer. Costs can rise to $7,000 to $9,000 or more for a large project with high-quality wood veneer.

Finishing the project with new hardware (pulls, knobs, hinges) runs $2 to $4 per piece, up to $20 to $50 each for high-end hardware.

In comparison, completely replacing old kitchen cabinets with new cabinets starts at $4,000 to $5,000 and up for stock cabinets; $8,000 to $10,000 for semi-custom cabinets; $16,000 to $20,000 and up for custom-made cabinetry.

Can my cabinets be refaced?
Refacing is feasible if your existing cabinet boxes are structurally sound and in good condition. Cabinets with water damage, warping, and broken frames are poor candidates. Particleboard cabinetry sometimes requires fasteners, in addition to adhesives, to ensure that the veneer is secure.

What’s involved
A professional installer will come to your house to measure your cabinets and determine the amount of veneer required, the correct sizes and quantities for door and drawer fronts, and how much hardware is needed. Newly ordered doors and drawer fronts may take 1 to 2 weeks for delivery.

When all the materials are in hand, your installer removes old cabinet door and drawer fronts, and prepares the surface of the cabinet boxes by washing the exteriors with a degreaser and lightly sanding the finish. Any significant flaws in the surface are repaired or filled to ensure a smooth, secure fit for the new veneer.

The installer applies veneer to the cabinet faces and any exposed cabinet ends, then mounts the new doors, drawer fronts, and hardware. The process typically takes 2 to 4 days.

Can I do kitchen cabinet refacing myself?
Detailed instructions and adhesive-backed veneers make cabinet refacing a feasible do-it-yourself project.

If you have extra time, patience, the necessary veneering tools, and a knack for precision, you can save money by tackling kitchen cabinet refacing on your own.

If you opt to do your own kitchen cabinet refacing, you’ll spend about $200 to $500 on average for materials. Specialized tools (rollers, blades, irons) add $5 to $60 to the cost.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Homes for Sale vs Sold vs Pending in Maple Valley

2012-02-27T09:00:00.000-08:00

Appealing Your Property Tax Assessment

2012-02-24T09:37:00.002-08:00

Each spring, Washington homeowners receive tax statements based on the assessed value of their homes. A large portion of revenues from property taxes go toward educating our community’s young people. In addition, our police, fire, libraries, and parks and recreation are funded with this money. During difficult economic times, these revenues are especially important.

As many in Washington have seen their property values decrease, it’s not unreasonable to expect that property assessments would go down as well. However, that’s not always the case. In the state of Washington, approximately half of your property tax is determined by levies for schools and community services.

While you can’t do much to avoid paying property taxes, if you are in question with the value your local assessor has placed on your house, you are entitled to an appeal. According to the National Taxpayer Union, up to 60 percent of homes are assessed at a higher value than they are truly worth, but only 5 percent of homeowners appeal their assessed value.

More information about Washington State tax statements, assessed property values, and the appeal process can be found at http://dor.wa.gov/content/findtaxesandrates/propertytax/

Property valuations and tax rates are assessed by individual counties. To find out more about your tax rate or how to appeal your assessment start by contacting your local county assessor. Here is a link to all Washington State county assessors.
http://dor.wa.gov/Content/FindTaxesAndRates/PropertyTax/Links.aspx

If your property assessment has piqued your curiosity about the value of your home, please feel free to contact us. We’d be happy to discuss a Home Valuation for your property.

Deduct Mortgage Interest and Home Equity Loans

2012-02-22T09:00:00.000-08:00

Deducting mortgage interest, as well as interest on home equity loans and HELOCs, can save money on taxes.
By: Richard Koreto

Effort: Low 1 hr (review IRS chart)
Saves: High $988 (on $100,000 AGI)
Investment: Low $0

Deducting mortgage interest is a great tax benefit that can make home ownership more affordable. Your first mortgage isn’t the only loan that qualifies, either. In many cases, you can also deduct interest on home equity loans, second mortgages, and home equity lines of credit, or HELOCs.

If you want to deduct all of your mortgage interest, there are limits on both how much money you can borrow and on what you do with the money you get. You also need to itemize your return to reap the benefits of these deductions. Calculations can be complicated, so consult a tax adviser.

Know your loan limits
A good place to check out what you can deduct before you borrow is the chart on page 3 of IRS Publication 936. It’ll walk you through the requirements you must meet to deduct all of your home loan interest. It’s an hour well spent.

The first hurdle you’ll run into is the total amount of your loan or loans. In general, individuals and couples filing jointly can deduct the interest on up to $1 million ($500,000 if you’re married and filing separately) in combined home loans, as long as the money was used for acquisition costs, that is the cost to buy, build, or substantially improve a home, explains Scott O’Sullivan, a certified public accountant with Margolin, Winer & Evens in Garden City, N.Y. Any interest paid on loan amounts above the $1 million threshold isn’t deductible.

The same $1 million limit applies whether you have one home or two. Buying a vacation home doesn’t double your loan limits. And two homes is the max; you can’t deduct a mortgage for a third home. If you have a mortgage you took out before Oct. 13, 1987, you have fewer restrictions on claiming a full deduction. The calculations for “grandfathered debt” can get complex, so get help from a tax professional or refer to IRS Publication 936.

Whatever you do, don’t forget that you can also deduct the points and fees associated with a first or second mortgage when you initially buy your home, says Jeff Rattiner, a CPA with JR Financial Group in Centennial, Colo. If you refinance the same house, you have to deduct those costs over the entire term of the loan. If you refinance again, you can deduct all the costs from the earlier refi in the year you take out the new loan.

Spend loan proceeds wisely
The other limitation on how much you can borrow and still get your deduction comes into play when you take out a home equity loan or HELOC that you don’t use to buy, build, or improve your home. In that case, you can deduct the interest you pay only on the first $100,000 ($50,000 if married filing separately). This loan limit also applies in a so-called cash-out refi, in which you refinance and take out part of the equity you’ve built up as cash, says John R. Lieberman, a CPA with Perelson Weiner in New York City.

That means if you decide to take out a $115,000 home equity loan to buy that Porsche, you can deduct the interest on the first $100,000 but not on the $15,000 that exceeds the limit. Use the same $115,000 to add a new bedroom, however, and the full amount is allowable under the $1 million cap. Keep in mind, though, that the $115,000 gets added into the pot of whatever else you owe on your other home loans. In many cases, points and loan origination costs for HELOCs are deductible.

Consider this simplified scenario: You borrow $250,000 against your home at 8% interest. That means you’ll pay $20,000 in interest the first year. Spend the $250,000 on home improvements, and all of the interest is deductible. Spend $150,000 on improvements and $100,000 on your kids’ college tuition, and all the interest is still deductible.

But spend $100,000 on improvements and $150,000 on tuition, and the improvement outlays are deductible, though $50,000 of the tuition expense isn’t. That’ll cost you $4,000 in interest deductions. Preserve the $4,000 deduction by coming up with the extra money for tuition from another source, perhaps a low-interest student loan or by borrowing from a retirement plan. For someone in a 25% bracket, a $4,000 deduction lowers taxes by $1,000, plus applicable state income taxes.

Beware the dreaded AMT
Even if you’ve followed all the loan limit rules, you can still get stuck paying tax on mortgage interest. How come? It’s all thanks to the Alternative Minimum Tax. Congress created the AMT, which limits or eliminates many deductions, as a way to keep the wealthy from dodging their fair share of taxes.

Calculating the AMT can be complex, but if you make more than $75,000 and have several kids or other deductions, you might well be subject to it. Problem is, if you fall into the AMT group, you may not be able to deduct interest on a home equity loan, even if the loan falls within the $1 million/$100,000 limit. If you’re subject to the AMT and borrow money against the value of your home, you’ll have to use it to buy, build, or improve your place, or you may not have a chance to deduct the interest, says Rattiner, the Colorado CPA.

This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Property Rights for Trade Part II: How TDRs may be used in the Donut Hole in Maple Valley

2012-02-17T13:00:00.000-08:00

By TJ MARTINELL
Covington Reporter Reporter
February 9, 2012

Transfer of development rights are likely to be a part of future growth in Maple Valley.

While TDRs have not been used in the past decade, when Maple Valley’s population increased by 59 percent, a similar King County program called the 4-to-1 program was used during the development of the 150 acre Maple Ridge Highlands in the 1990s.

According to Maple Valley Community Development Director Ty Peterson, the development acted as a receiving site by transferring the density from the surroundings rural areas, where either conservation easements were placed on the property or the titles were dedicated to King County. As a result, Peterson stated, roughly 500 acres of land around the Highlands development have been preserved. The Highlands development was ultimately annexed into the city of Maple Valley in 2009.

HOW THE CITY AND COUNTY PROGRAMS DIFFER

In September of last year, Maple Valley adopted its own TDR program as a part of the Regional Transfer of Development Rights Program, which deals exclusively with sending and receiving sites within their own city limits.

According to King County TDR Director Darren Greve, the difference between a county and city program is that, “a county program provides for development right transfers from rural sending sites into unincorporated urban area and incorporated city receiving sites,” while “a city TDR program is focused on in-city sending and receiving sites to protect in-city open space and historic buildings etc.”

“However, there is a growing number of cities that have both in-city TDR programs and provisions that allow for regional TDR component with their respective county to protect rural lands that are of compelling interest to a city,” Greve wrote in an email interview. “Two separate programs are needed because each jurisdiction has land use control over its receiving areas and sending areas.”

For cities in King County that do not have a TDR program, such as Bellevue, Greve said, they incorporate the regional TDR program into the city’s zoning code which allows city developers to use TDRs to increase development capacity.

There is also a significant difference between county and city TDRs in terms of base density.

Brian Ross, managing partner for Kirkland-based YarrowBay, stated in a phone interview that it used TDRs as a part of the Kentlake Highlands development, which is located in unincorporated King County near Black Diamond. The base density was four units per one acre, but after transferring several dozens of TDRs, YarrowBay was allowed to build six units per acre.

Greve explained that there are two different types of zoning densities. One is the base density which for urban county-controlled areas is four units per acre. Then there is maximum density which in King County is six units per acre. Base density is the standard unit per acre ratio. In order to reach the maximum density, TDRs must be used.

“If they want more units, up to the maximum allowed, then they need to use the county’s residential density incentive options, which TDR is one,” Greve wrote. “So, if a developer has one acre of totally unconstrained land he/she can build four houses by-right. If he wants to build up to the max of six houses he needs to buy TDRs from the rural area.”

While Ross said he believed the TDR program can be beneficial he added that it can get complicated when the sending site and receiving site are located in two different jurisdictions.

“I think it’s a great idea to preserve rural lands and find an economic incentive to do that and at the same time keep growth within the urban growth boundary,” he said. “It’s not a simple program by any means because most TDRs are generated from the rural areas and most development sites are in cities that don’t want rural TDRs brought in to increase density. So, there’s ongoing tension. Most cities will come up with their own program and zone property on how they want to develop. There’s a difference between the practice and the concept, so, it’s kind of a confusing process. But there are times when it comes together.”

THE DONUT HOLE

One example of this is the Donut Hole, a 156-acre property owned by King County that Maple Valley is attempting to annex into the city limits.

Because the land is owned by King County it falls within the jurisdiction of the county’s TDR program. The county originally desired the eventual developer of the site to use TDRs as a way to reach the required base density of four units per acre, according to Greve.

“The County’s potential sale of the Summit Place property included an open space component based on this general four to one (unit per acre) approach,” he wrote. “And TDR was just a part of the open space component.”

The county also wanted the TDRs to be purchased from rural landowners in King County or from its TDR bank.

A TDR bank works similar to a regular bank by holding TDR certificates for the county until a developer is willing to buy them. The county uses the bank to buy the TDRs up front from willing private landowners and then attempts to sell them.

According to Greve, 95 percent of all TDR sales within the King County program are private.

However, according to Peterson, the city initially opposed the idea due to the lack of mutual gain.

“Quite frankly, the city didn’t see any benefit in the use of TDRs on the property that were purchased from King County or the King County Bank,” Peterson said. “The county was insisting that it be allowed.”

Eventually, Peterson stated, the city and county were able to come up with a compromise. The city would allow 200 additional housing units to be built if the necessary TDRs were purchased, but the TDRs would have to come from privately owned rural properties located within five miles of Maple Valley. Currently the zoning would allow for 1,240 units without the use of TDRs.

“At least it can be argued that there is some relationship benefit preserving land within five miles of the city,” Peterson explained. “It doesn’t really help if we have to take density while areas outside of Woodinville are being preserved.”

Greve further explained the agreement on TDRs regarding the Donut Hole.

“The developer’s purchase of 200 TDRs from rural lands…would help fulfill the four to one offset of permanently protecting other rural lands once the Summit Place property was changed from urban to rural uses,” Greve wrote. “The five mile from city limits boundary was put in place to make sure the TDR related open space benefits remain close to city of Maple Valley.”

FINDING A FEW GOOD SENDING SITES

The main challenge for using TDRs, however, will be finding property owners willing to sell them. For example, in 2006, the average King County TDR sold for $30,000. Now, however, the average one sells for around $15,000.

“There haven’t been a whole financial market for these rights,” Peterson said. “People can hardly develop property as it is, let alone buy development rights. There are lots of sites that qualify. It’s just that there haven’t been property owners who have had their sites certified.”

Additionally, cities like Maple Valley, which grew exponentially for two decades, are already struggling to provide infrastructure for the current population and aren’t keen on adding more density.

“Conceptional it’s really good,” Peterson said. “But it struggles because one, cities are having a hard time. It’s been difficult to approach cities that are already struggling with addressing the impact of growth and say, ‘Let’s take some of the county’s growth, too.’”

Before, the city considered using city-owned Lake Wilderness Golf Course as a sending site, an option which is still viable.

The idea was first conceived in 2006 when YarrowBay expressed interest in purchasing the Lake Wilderness Golf Course and developing the Donut Hole, Ross explained.

According to a Reporter article dated July 30, 2010, YarrowBay offered the city the chance to purchase it “with the idea the city would want to preserve it rather than see houses built.”

“The city said ‘We recognize there might be benefit to preservation in perpetuity the golf course property,’” Peterson said. “Instead of having the golf course property turn into residential land, maybe we can sell the development rights and use it another place.”

Ross explained his company would have then purchased the TDRs from the city and used them to meet the base density requirements in the Donut Hole site.

Another potential sending site is the 50-acre Legacy Site located on Maple Valley Highway, across from Rock Creek Elementary School and the Tahoma School District administrative offices, which has residential capacity. Theoretically, the city could also in turn place a conservation easement and move the TDRs elsewhere.

“Deciding where else to add higher density is where it’s uncertain,” Peterson explained.

According to the Maple Valley ordinance which established the TDR program, it is designed to “allow opportunities for increased density in specific designated parts of the city that are best suited to accommodate urban densities with the least impacts to the environment and public services.”

Due to the relatively recent implementation of the program, however, it has yet to be seen how the policy will ultimately influence any zoning density and in what part of the city.

“This framework is mid-process and it’s kind of in its infancy,” Peterson said.

The use of TDRs in the master planned developments in Black Diamond will be explored in Part III.

Maple Valley’s TDR program can be reviewed at http://www.maplevalleywa.gov/Modules/ShowDocument.aspx?documentid=3859

Correction: Part I stated that TDRs were used as part of the recently rescinded community facilities district in Black Diamond. TDRs were not involved in the districts. They are a part of the master planned developments.

Read the article at www.maplevalleyreporter.com

Creating A Home Inventory

2012-02-15T09:00:00.000-08:00

If your home was damaged by fire or other catastrophe, would you remember detailed information about what you own? Creating an inventory of your personal property can help with obtaining insurance as well as ensuring that any insurance claims are promptly and accurately filed.

The best way to start your home inventory is by creating a spreadsheet that lists name and description of each item, model and serial numbers, date and location of purchase, original price and current estimated value.

Next, go room by room and catalog everything. Start with high value items such as jewelry, antiques, artwork, and any collectables. Then count furniture, electronics, rugs, linens, kitchen items, lamps, appliances, media (DVDs, CDs, books, video games, etc.), and tools. Be sure to go through all cabinets, drawers, and storage containers.

If possible, take photos or video of your belongings. Get close-ups of the highest value items and at least one good wide-angle shot of each room.

Once you have your inventory complete, gather receipts, photos, videotapes, and appraisals and store them in a safe deposit box outside your home. Update your inventory whenever you make a large purchase or when consolidating your belongings, at least once a year.

Real Estate in 2012: What can we expect?

2012-02-10T09:00:00.000-08:00

HOME VALUATIONS
Nationally, median home prices are expected to fall only slightly during the first half of 2012, according to Standard & Poor’s Case-Shiller Home Price Index. But by year’s end, home valuations should begin to rise. The National Association of REALTORS ® (NAR) estimates the median home value will increase 1.8% from $165,200
to $168,200. Out of the 384 metro areas they monitor, Case-Shiller is predicting 95% will see some gains by the end of 2012.

Locally, the potential for substantial job growth exists, especially in the high-tech and aeronautical industries. In a recent CNNMoney article, Case-Shiller forecasted the median home price in the Seattle metro area could rise as much as 10.5% in 2012. Case-Shiller also suggested that a 7.9% increase in the Portland metro area is possible. These increases should be significant boosts to consumer confidence leading into 2013.

HOME SALES
Low mortgage rates and low home prices could lead to a bump-up in sales for the upcoming year. NAR predicts that national sales of existing homes will rise about 5.1%, from 4.9 million in 2011 to 5.2 million in 2012.

MORTGAGES
A year ago, our market started 2011 at around 4.9% on a 30 year fixed mortgage and ended near a historic low of 3.94%. Freddie Mac predicts that mortgage rates for 2012will remain low through mid-year, but close in on 5% by December.

Good credit, solid work history and a reasonable down payment can still go a long way toward qualifying for a loan. The Federal Housing Finance Agency (FHFA) sees evidence that lending standards are starting to loosen. A recent FHFA survey shows the number of loans made with a loan-to-value ratio greater than 90% rose significantly in 2011, doubling from 10% to 20%. This rise is a good indication more consumers are qualifying for low down payment, FHA-backed loans than before.

Economists agree the real estate market is poised for some growth in 2012 and that interest rates will see an increase. The first part of 2012 may well be the optimum time to buy, while home prices are at or close to stabilization and interest rates are still low.

What Would MacGyver Do?

2012-02-08T09:00:00.000-08:00

Use Rubber Bands for Simple Household Repairs
Free your discarded rubber bands from the junk drawer—they’re needed elsewhere.

Mostly we see rubber bands on our newspapers, holding our hair back, binding our produce, or else piled in a drawer somewhere, forgotten. But a lesson from MacGyver tells us a rubber band can be surprisingly helpful in a pinch.

We’ve collected some MacGyver-inspired ideas from the Internet.

What MacGyver did:
Made a makeshift motor out of a battery pack, some rubber bands, and an electric whisk. Attached the “motor” to a food trolley (making it move on its own) to confuse a motion sensor.
What you can do:
Remove a stripped screw. Lay a flat rubber band over the head of the screw, which will give the screwdriver a tighter fit.

Pry open a stuck jar lid. Wrap a thick rubber band around the lid and twist it off.
Secure wooden slats on a bed. Wrap a rubber band around each end to keep them from coming loose.

Wipe excess paint off your paintbrush. Wrap rubber bands around a paint can across the opening. Wipe your brush against the rubber bands instead of the side of the can. Paint falls back inside, leaving the grooves around the can clean, saving you paint and the hassle of a stuck lid.

Get more use out of an old broom. Tie rubber bands around the bristles to tighten them.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

John L Scott's Mobile Website

2012-01-31T09:00:00.000-08:00

Property information anytime, anywhere…

John L. Scott has always been a leader in real estate technology; finding new ways for consumers to search for homes. The John L. Scott mobile website was one of the first mobile searches to be offered in the industry. Smart phone and web-enabled mobile device users can look up comprehensive home listing information with photos in seconds by simply visiting http://www.johnlscott.com/.

On the mobile website, homes can be searched by address, MLS number or John L. Scott’s five-digit property code to access in-depth home details and look over full-size property photos. The site also allows consumers to log in to their personal John L. Scott Property Tracker account, manage saved Favorite Properties, view Saved Searches, access mortgage calculators and even look up an agent.

John L. Scott is always looking for innovative ways to make mobile search better. In addition to filtering search results by conventional criteria such as price range or number of bedrooms, consumers now have the opportunity to limit their search results to only bank owned properties*, filter out short sales* completely, and even share listings on Facebook and Twitter with friends.

If you have a web-enabled mobile device please visit http://www.johnlscott.com/ and check out these new features!

Northwest MLS brokers report more sales in 2011

2012-01-23T14:38:00.000-08:00

Northwest MLS brokers report more than 56,000 sales during 2011, outgaining prior year by 7.4 percent, but total dollar volume shrinks

KIRKLAND, Wash. (Jan. 23, 2012) – Members of Northwest Multiple Listing Service tallied 56,290 closed sales of single family homes and condominiums during 2011, improving on 2010’s volume by 4,290 transactions for a 7.4 percent increase.

Last year’s completed sales included 48,952 single family homes (up 7 percent from 2010) and 7,338 condominiums (an increase of more than 10 percent from 2009). Together, these sales were valued at more than $16.7 billion, about $900 million less than the previous year (a decline of 5.1 percent).

Both median prices and inventory dropped compared to 2010. Prices fell 10.3 percent system wide, while the number of new listings added to inventory was down more than 13 percent. Brokers added 101,430 listings to the database during 2011, which was 15,269 fewer than the total number for 2010.

Last year’s median price for closed sales of single family homes and condos was $235,000. In 2010 the median selling price was $262,000. For the 21 counties included in the MLS report, the median price ranged from $120,000 in Grays Harbor County to $387,500 in San Juan County.

In King County, which accounted for 40 percent of last year’s sales, the median selling price was $311,748, down about 10.7 percent from the previous year’s figure of $349,000.

In its annual statistical summary report for its 20,000-plus brokers, the multiple listing service examined various indicators of activity. Among the findings:

Single family homes accounted for about 87 percent of the sales volume as measured by units, and about 90 percent of the dollar volume.

About half the homes that sold last year had 3 bedrooms, while three-fourths of condos had 2 or fewer bedrooms.

Prices for 3-bedroom homes built before 2009 vary widely among the counties in the Northwest MLS market area, ranging from $112,375 in Grays Harbor County up to $408,500 in San Juan County.

On average, Northwest MLS brokers represented 34,000 active listings each month.

Of 860 million-dollar-plus sales of single family homes, more than half (54.8 percent) were in Seattle’s Eastside suburbs. Of these high-end homes, 145 of them were in the MLS map area encompassing the area west of I-405, including Bellevue and the waterfront communities of Beaux Arts Village, Clyde Hill, Hunts Point, Medina and Yarrow Point.

The highest priced single family home in the MLS system that sold last year was located in the Town of Hunts Point on the eastern shore of Lake Washington, which commanded $14,750,000. The highest priced condominium, located in downtown Kirkland, fetched $3,249,000.

A comparison of median prices of home sales within school districts in the Northwest MLS market areas shows the most expensive homes were situated in the Mercer Island School District ($824,000), followed by Bellevue ($550,000) and Issaquah ($530,000). The least expensive homes were in the Queets-Clearwater School District in Jefferson County ($30,000), the Vader School District in Lewis County ($47,900) and the Wilson Creek School District in Grant County ($52,500).

Northwest MLS members reported 81,019 pending sales (mutually accepted offers) during 2011. That marked an increase of about 10.5 percent from 2010 when members logged 73,349 pending sales.

The pace of sales as measured by “months supply” (an estimate of how long it would take for all inventory of active listings to sell at the current pace assuming no new inventory is added) showed a system-wide total of 5.02 months, improving on a figure of 6.42 months for 2010. Using this measurement, Snohomish County had the lowest supply, at 3.69 months, followed by King County at 3.75 months. (Economists consider a supply of 3-to-6 months to be a balanced market, meaning the market favors neither buyers nor sellers.)

Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership includes more than 20,000 real estate brokers. The organization, based in Kirkland, Wash., currently serves 21 counties in Washington state.