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For Buyers | Maple Valley WA | Page 2

For Buyers

Maple Valley HUD Home Activity

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Maple Valley HUD Home Activity

HUD homes in Maple Valley were once a rarity, however with the increase in foreclosures throughout King County, we are seeing HUD listings more regularly here in the Tahoma School District. HUD is an acronym for the Department of Housing and Urban Development. FHA loans are insured by HUD and therefore, when a property encumbered by an FHA mortgage goes to foreclosure…it ends up as HUD inventory. These properties are often priced very aggressively and sell quickly. There are currently 2 HUD homes on the market in Maple Valley (one priced at $65,000!). In the last 6 months, there have been 7  HUD homes sold and closed with the lowest priced home $62,000 and the highest $270,000 The process of buying a HUD home is vastly different than purchasing a short sale, traditional Bank Owned property, or a “regular” sale and a buyer must use an approved HUD real estate broker in order to make an offer. Search all Tahoma Bank Owned properties here Search all South King County Bank Owned properties here .

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How to Buy a HUD Home in Maple Valley

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How to Buy a HUD Home in Maple Valley

Buying a HUD home in Maple Valley can mean getting a great deal on an REO property, however the process is different from buying any other bank owned property. HUD homes are FHA foreclosures. When a HUD home is listed for sale, it is offered for a period of time to owner occupants only. During that “opening bid” period, buyers who are not investors, can make an offer. In order to make an offer as an owner-occupant, the following criteria must be met: A HUD approved Real Estate broker must write and electronically submit the bid. The buyer must have the required earnest money amount (in our area, usually $1,000) in the form of a cashier’s check made out to HUD or “Buyer’s name”.  If financing the purchase, the buyer must be pre-approved (with letter in hand) If a cash purchase, buyer must ave proof of funds Buyer and Broker must sign an affadavit that the buyer will be occupying the home and the purchase is not being made as an investment. HUD will continue to collect offers during the intial bid period, afterwhich they will calculate the net offer to them. (Offered price, less any concessions and fees requested by the

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22851 244th Ave SE| Stunning Maple Valley Rambler on Acreage

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22851 244th Ave SE| Stunning Maple Valley Rambler on Acreage

22851 244th Ave SE in Maple Valley, WA 98038…..now offered for sale at $469,950. This home was completely rebuilt from the foundation up in 2009. The interior features are amazing….truly “Street of Dreams” quality throughout. Open concept Floorplan Hand-scraped Teak Hardwoods 2 panel wood interior doors Tongue-n-Groove details Custom “Barn Door” to mud room 3/4 BA off mud room Amazing Kitchen w/ custom “soft-close” cabinets and deep drawers, gas cook-top and farmhouse sink Natural-Edge slab granite blends beautifully with the glazed Alder cabinetry, and subway tile-backsplash in the Kitchen. Secondary Bedrooms are over-sized with closet organizers Master suite boasts French doors to private deck and a 5 Star Bath. You’ll think you’re at a Resort/Spa every day! In addition to the main house with 3 BR 2.75 BA, there is 570 square feet of finished, heated space above the 3 bay detached shop, perfect for Rec Room, Weight Room or Office. Total covered parking for 6, plus privacy galore on a gated 2.19 acre parcel. This  home is served by the Tahoma School District, highly rated in many different categories. Not to mention….Maple Valley was recently named to the Top 10 Communities to live in list by Family Circle Magazine!

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24543 SE 245th Pl Maple Valley | Maple Woods Just Listed

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24543 SE 245th Pl Maple Valley | Maple Woods Just Listed

Maple Woods is probably Maple Valley’s largest Master Planned Community with over 350 homes, 6 neighborhood parks and (in my opinion) one of the loveliest landscaped entries in town. This Polygon built resale home is situated down a long drive just off a double cul-de-sac street. Traditional in style, the 3 BR + Loft + upstairs utility offers function and convenience for busy lifestyles. The Main Floor layout has a Living Room upon entry, which could easily be converted to Formal Dining Room, Powder Room with pedestal sink, and a granite Kitchen with Hardwood floors. 9′ ceilings on the main floor help keep the space open and bright. Hardwood floors flow from the Kitchen, through the Nook and into the Family Room which has a gas fireplace as it’s focal point. Outside is a storage shed, A/C unit, Patio and enough lawn area for get-togethers. Here are the details: Year Built: 2004 Sq. Ft (appx): 1640 BR: 3 Bath: 2.5 Annual taxes: $3095 Hoa Dues: $50/mo Offered at $225,000, this home is a Short Sale but only on the 2nd Mortgage. Feel free to call or email for more information. 425.432.5400 Maple Valley was recently named to Family Circle’s Top 10 Towns list!

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Wilderness Summit Short Sale-Pending!

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Wilderness Summit Short Sale-Pending!

Maple Valley Short Sale update  8.20.2011 - New listing Now Pending short sale in the Wilderness Summit neighborhood near Four Corners in Maple Valley This 4 Bedroom 2 story home is light and bright throughout and has a prized 3 car garage. The floorplan features soaring vaulted ceilings in Entry and Living room, an open Kitchen w/ Stainless appliances and a cozy family room with gas fireplace. The yard is fully fenced and has an extended aggregate patio for outdoor entertaining. Investor alert: This property will cash flow at this price. Call or email for more information.

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10 Tips for Buying a Short Sale

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10 Tips for Buying a Short Sale

You’ve found the house…..only it’s a short sale situation. If you have your heart set on buying a short sale in or around Maple Valley (and they can be great deals for buyers with patience) you’ll be hard pressed not to find something in your area at your price. (See all short sale listings within Tahoma School District boundaries here) In order to increase your odds of successfully closing on a short sale property here  or anywhere in King County, here are a few helpful tips and good questions to ask along the way: 1. How many approvals will be needed for the short sale? Many buyers (and agents) erroneously think only the mortgage holders must approve the sale. While these are the major players in the process, Home Owners Associations, Utility Companies and other liens must be negotiated and cleared prior to title transferring to a new owner. 2. What is the nature of the Seller’s hardship? Some seller’s agents won’t divulge this (and I would be one of them unless I had my client’s permission) but when representing a buyer, this is a question I ask of the listing agent. The answer tells me alot about the chances

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Moving to Seattle? | Check out Maple Valley

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Moving to Seattle? | Check out Maple Valley

In 1987, my husband and I elected to relocate our family from the Mid-West to the greater Seattle area. My parents lived here at the time, and after several visits we felt pulled to the area; the climate, economic opportunites and overall quality of life were bold “check” marks in the Pros (vs. Cons) column. Coming from a lower priced market to a higher priced market, with one son and one on the way, we were more sensitive to the cost of housing than proximity to Metro areas. My husband was willing to sacrifice his time with  a 45 minute commute (each way) to Seattle, if it meant we could have a comparable home in an area we could comfortably afford. We did not originally move to Maple Valley.   Seven years later, after having been in the real estate field for 4 years, I began to hear a recurring theme from people I met….”We’d like to move, but we will NOT leave the Tahoma School District”. At this time, we now had three sons and were not only concerned about schools, but were interested in becoming a part of strong community. Fast forward 17 years….my three boys have graduated and my husband and I are

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Another Maple Valley Short Sale Pending!

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Another Maple Valley Short Sale Pending!

Not all short sales take forever, but the time from list to close can be significantly reduced by the marketing time between list and offer. This Glacier Crest two story home is a short sale, but it was in excellent condition, showed very well and priced right at $219,950. If you need help buying or selling a property that’s a short sale, make sure you understand the process and are working with an agent who knows the right questions to ask. Better yet, call me

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