VA Home Loan | Kitsap County

I am sure you have heard all the doom and gloom from a million different news reports concerning the lending industry mess, how several loan programs once available are no longer, how zero down loan programs are almost non-existent and how hard it is right now if you have little to zero money available for a down payment.

But wait; are you a military member or a veteran? If you are the news isn’t as bad. With your VA Guaranteed Home Loan benefit you can still obtain a loan with no down payment and a fixed interest rate that is as good as or better than a conventional mortgage rate. This is the time for a VA Loan! What a great benefit to those of you that have served our country!

What is a VA Guaranteed Home Loan?

Many have the misconception that the military is the organization loaning the money. No they are not. Your VA Guaranteed Home Loan will be made by a private lender, such as your bank or a mortgage company of your choosing that has VA lending approval. The guaranty means the lender is protected if you fail to repay the loan. This is also why you will not have to pay private mortgage insurance (PMI) for a zero down loan (if you could find one). Normally a lender would require a down payment and/or PMI to obtain a loan, since the VA Home Loan has a guaranty which replaces these you will be able to obtain your loan without, but with the same financial terms as if you had made a down payment. The risk is removed for the lender when the VA gives them that guaranty.

Of course you still must meet income and debt requirements, your credit reports will be used and if there are items in your history that are derogatory you can be denied a loan even though you have your Certificate of Eligibility. The VA cannot demand a lender make a loan to you that would violate their lending practices. Lenders also must comply with the VA rules and policies when it comes to income and credit standards. Just having the benefit is not enough, you must be credit worthy. I will be writing an article about your credit – good, bad or ugly in a few days. You don’t have to have that perfect fico score, so check back.

If a lender is unwilling to approve you for a loan the only thing the VA can do is suggest that you try other lenders.

It could just be the perfect time for you to purchase a home with your VA benefits. Where else can a person get a 100% home loan these days?!

Posts of Interest

First Time Homebuyer

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Individual Area Real Estate Market Stats

• Port Orchard Real Estate | February Homes SOLD
• Port Orchard Real Estate | March Homes SOLD
• Port Orchard Real Estate | April Homes SOLD
• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD

Kitsap Area Real Estate Market Stats

• Kitsap County Homes SOLD 2008 VS 2009 Year to date
• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008

Kitsap Real Estate FYI

• Kitsap County | Pending Sales | What a week
• Bremerton Real Estate | New Construction Homes
• Kitsap County Home Buyer’s | Closing Costs Paid by Seller

Naval Base Kitsap | As a Military Member do you Purchase a Home in this Market Climate?

Times have changed for all home buyers. The days of being able to receive very substantial market equity in a three year time span has all but disappeared in most areas. In the Kitsap County area we have been lucky that our market although slow and undergoing a huge price correction we haven’t been as hard hit as areas like Florida or California. However, we hear daily the horror stories of the housing market which has most active duty military wondering if now is the right time to buy.

Over the last 5 years we saw the active duty member feel comfortable purchasing even with a PCS due in a short three years because of the escalation of value in several markets. With that now gone what does an active duty member do? The decision to purchase is tougher today than it was.

But, with education, pro/con honest conversation and the help of several real estate experts you should be able to make the right decision.

So as a military member do you purchase a home?

It is a very complicated process which needs some investigation and education before making that decision. You should ask yourself some questions like these at the minimum.

These might be considered some of the “con” type questions.

• Do I have upfront money to buy a home?
• Can I get financing?
• Is my tour of duty going to be longer than 3 years before the next PCS?
• Will I have the opportunity to do another tour here or will I have an opportunity to come back?
• If I had to be a long distant landlord would I have the time or resources?
• Could I afford a property manager?
• What if I had to pay the mortgage for 2-3 months while the home is waiting for new renters?

These might be considered some of the “pro” type statements.

• Being VA eligible military members can still receive a ZERO down home loan.
• First time home buyers can receive a $8,000 credit from the Federal Government
• Under most circumstances the interest on a home loan is tax deductible (contact a CPA)
• Pride of home ownership is amazing.
• Building equity prior to retirement.

Do you own your home? Are you afraid of having to sell in 3, 4 or 5 years? If you are smart and do the right things then home ownership for a military member should not be scary!!!!

2009 NAVAL BASE KITSAP | BREMERTON | BANGOR | PSNS | NAVAL HOSPITAL BREMERTON

Posts of Interest

First Time Homebuyer

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Naval Base Kitsap

• Naval Base Kistap | BAH – Tax Breaks – HomeOwnership
• Naval Base Kitsap | BAH Rates E6 | HomeOwnership | Yes you can!
• Naval Base Kitsap | Online Relocation Package | Week One – Take Charge | Know Your PCS
• Naval Base Kitsap | Turn your BAH into Home Ownership – Stop Renting
• Naval Base Kitsap :: Use Your VA Guaranteed Home Loan for ZERO DOWN

Individual Area Real Estate Market Stats

• Port Orchard Real Estate | February Homes SOLD
• Port Orchard Real Estate | March Homes SOLD
• Port Orchard Real Estate | April Homes SOLD
• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD

Kitsap Area Real Estate Market Stats

• Kitsap County Homes SOLD 2008 VS 2009 Year to date
• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008

Kitsap Real Estate FYI

• Kitsap County | Pending Sales | What a week
• Bremerton Real Estate | New Construction Homes
• Kitsap County Home Buyer’s | Closing Costs Paid by Seller

SEARCH SOME LOCAL KITSAP COUNTY HOMES

Bremerton Homes Under $200,000 | Bremerton Buyer’s Market

Not a bad time to purchase a home in Bremerton, Washington. In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Check out some of Kitsap County Real Estate Market Data here - Kitsap County Real Estate Market Data FYI

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD

Port Orchard Real Estate | April Homes SOLD

During the month of April there were 58  homes that sold in Port Orchard ( 6 more than in March).  These Port Orchard  homes actually had a transfer of home ownership.  Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages.  Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site.  There you can find definitions and explanations of the home buying process for Port Orchard Washington.

Let’s look at those 58  Port Orchard homes -

Average List Price

• $264,268 (up from March)
• $167 per sq ft

Average Sold Price

• $252,030 (up from March)
• $157 per sq ft

The average sq ft of these 58 Port Orchard homes was 1785 sq ft.  These homes spent an average of 171 days on the market (DOM). (up 30 days from March)

The list to sale ratio for these homes was 95.36 percent.  What that meas is that buyers offered 95.36% of what the seller requested. (lower than March)

Not a bad time to purchase a home in Port Orchard, Washington.  In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

have written about the program here

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Bremerton Real Estate | April Homes SOLD

During the month of April there were 61 homes that sold in Bremerton.  (That is 8 less sold homes than in March.)  These Bremerton homes actually had a transfer of home ownership.  Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages.  Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site.  There you can find definitions and explanations of the home buying process for Bremerton Washington.

Let’s look at those 61 Bremerton homes -

Average List Price

• $220,609 (up from March)
• $130 per sq ft

Average Sold Price

• $214,102 (up from March)
• $126 per sq ft

The average sq ft of these 61 Bremerton homes was 1739 sq ft.  These homes spent an average of 148 days on the market (DOM). (24 days less than April)

The list to sale ratio for these homes was 97.05 percent.  What that meas is that buyers offered 97.05% of what the seller requested.

Not a bad time to purchase a home in Bremerton, Washington.  In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Check out some of Kitsap County Real Estate Market Data here - Kitsap County Real Estate Market Data FYI

What do these numbers mean?  Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation.  I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds.  I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed

Bremerton Farmer’s Market – It’s almost Market Time!!

The dates are released! It’s almost Market Time!!

Bremerton Farmers Market’s schedule has been released for 2009. Every Thursday, starting on May 14^th and continuing through October at 3:00pm until 8:00pm(one hour earlier this year!) across from Evergreen Park in the Seaside Church’s parking lot you can find farmers, unique food sellers and high quality arts.

Farmer’s Markets can be such a great way to meet others in your community while sharing a passion for organic gardening, beaded jewelry making, compost tweaking and several other homemade type products.

See you on Thursdays!!!

Bremerton Flower Basket Sale

I so enjoy springtime in downtown Bremerton! I love it when they bring out the flower baskets. I love hanging flower baskets and just put mine out this past weekend at home. So I was thinking about the annual Park and Rec Flower Basket and Plant sale. The flower baskets are smaller versions of the hanging planters which are placed on the City’s Downtown streets each Summer. Here is the information!

The Park and Recreation Department will hold a Flower Basket and Plant sale from 8:00AM to 5:00PM on Friday, May 8th at the Sheridan Community Center 680 Lebo Boulevard.

For additional information, or to pre-order baskets, please call Cynthia at 360-473-5425