Archive for the ‘Uncategorized’ Category

In The Know – When Buying Bank Owned Or Forclosure Properties

March 1, 2012

IN THE KNOW – WHEN BUYING BANK OWNED OR FORECLOSURE PROPERTIES

A common question among Buyers in this Real Estate Market when purchasing Bank Owned or Foreclosure Properties is; “Why is a Special Warranty Deed and not a General Warranty Deed given on this property”?

Special Warranty Deed versus General Warranty Deed

Here is a great explanation given in simple terms by a Title Officer at Stewart Title.

“Special Warranty Deeds are becoming more common.  A General Warranty deed is a promise to the Buyer that the Seller will warranty any prior problems with Title, not just during the Seller’s ownership, but back along the chain of ownership.  

A Special Warranty deed, on the other hand, limits the Seller’s promise (warranty) to title problems that come up while the Seller owned the property, but gives no warranty for problems prior to that point.  For example, Builders often give Special Warranty deeds.  They only owned the property long enough to build the homes.  They aren’t sticking their necks out to warranty buyers against something that happened to cloud title when the subdivision was still a pig farm.  

Foreclosure property is another example where you often see Special Warranty deeds.  The Bank, like the Builder, has no close relationship to the property and won’t bend over backwards to promise anything about the condition of title before they acquired the property through foreclosure.”  

Jayne Boyle of Stewart Title explains, “These days, Title Insurance is the Buyer’s best friend.  Title Insurance insures the Buyer against past ownership problems, old liens, boundary issues, etc.” 

And now YOU are in THE KNOW! 

            debbieatwood.com

To contact Debbie – 425-750-4970


Condo at Belmon…

February 13, 2012

Condo at Belmonte
513 Pilchuck Path
Everett, WA 98201                                            $135,000.00

Beautiful 3 bedroom Condo with spectacular Cascade Mountain and valley views.  With approximately 1500 sq ft of living space, 2.5 baths, formal living and dining rooms and spacious kitchen with tile counters and stainless appliances.  All rooms are generous size.

Pilchuck Path

Pilchuck Path

Complete with 1 car garage (a truck can fit in this garage) and fenced backyard.

Pilchuck Path

Pilchuck Path

Enjoy the sunrise over the beautiful Cascade Mountains from your Master bedroom, Living room or cozy deck.  Low Low Maintenance fees are approximately $70/mo!

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970

Condo at Belmon…

February 13, 2012

Condo at Belmonte
513 Pilchuck Path
Everett, WA 98201                                            $135,000.00

Beautiful 3 bedroom Condo with spectacular Cascade Mountain and valley views.  With approximately 1500 sq ft of living space, 2.5 baths, formal living and dining rooms and spacious kitchen with tile counters and stainless appliances.  All rooms are generous size. 

Pilchuck Path

 

Pilchuck Path

 

 

Complete with 1 car garage (a truck can fit in this garage) and fenced backyard.

Pilchuck Path

 

 

 

Pilchuck Path

 

Enjoy the sunrise over the beautiful Cascade Mountains from your Master bedroom, Living room or cozy deck.  Low Low Maintenance fees are approximately $70/mo! 

Debbie Atwood Is Making A Splash In Snohomish County!

 (425) 750-4970     

Give It To Team Bobbi!

June 30, 2011

Give It To Team Bobbi!

Jet City Pizza of Marysville is joining the fight against Leukemia and Lymphoma.

Give It To Team Bobbi!

Members of the Costa Family of Marysville have joined together to form a team for the Light The Night Walk for The Leukemia and Lymphoma Society on September 24, 2011.

Sisters Jeralita, Rietta and Charvette Costa lost their mother Bobbi Costa to AML (Acute Myelogenous Leukemia) 10 years ago.  Joing them on Team Bobbi for a second year are Charisha Costa, Lekenzie Mortensen, Serenity Monar, Azucena Garcia and cousins Cynthia and Taylor Neuhoff and Angela and Danika Mogenson.

Jet City Pizza owner Tristan Costa is the son of Rietta Costa.  He is proud to find a way to support the team and the fight against the disease that took the life of his Grandma so suddenly at the young age of 59.

Acute myelogenous leukemia (AML) is a fast-growing cancer of the blood and bone marrow.  In AML, the bone marrow makes many unformed cells called blasts.  Blasts normally develop into white blood cells that fight infection.  However, the blasts are abnormal in AML.  They do not develop and cannot fight infections.  The bone marrow may also make abnormal red blood cells and platelets.  The number of abnormal cells for leukemia cells grows quickly.  They crowd out the normal red blood cells, white blood cells and platelets the body needs.

Rietta Costa said “ it was all so sudden, we didn’t even know she was sick. One day she didn’t feel well and went to the clinic. They took her by ambulance to the hospital . Within 4 days she was on total life support and then in 1 short week was gone. We had never heard of AML and she didn’t even have a chance at treatment it was so aggressive. We walk in the hopes of a cure for AML so that others can live.
In honor of Bobbi Costa,who would have been 70 this July 1st, Jet City pizza will donate 25% of every full price order Wednesdays from June 29- August 31 when you say “ Give it to Team Bobbi”


Following in his family’s philanthropic footsteps, Tristan Costa believes that the measure of true success is being able to give back to your community. Most recently he was a sponsor for the Marysville Tulalip Relay for Life, providing over $1100.00 in free pizza to the organizational meetings.
Jet City Pizza is located at 11515 State Ave Suite C Marysville WA 98271 360 653 5858

The full menu can be found online at JetCityPizza.com.

Not sure if they deliver to your area? Call, you may be surprised!Debbie Atwood Is Making A Splash In Snohomish County!
You can find information on the Light the Night walk at http://www.lightthenight.org/
To make a donation to Team Bobbi, call Rietta Costa @ 425 232 3387 or go to

http://pages.lightthenight.org/wa/SeattleL11/TNeuhoff or

http://www.lightthenight.org/ click on Donate and enter Team Bobbi .

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970

Everett Police Department

June 30, 2011

Everett Police Department

The Everett Police Department will hold an open House on July 4th. Located at 3002 Wetmore Ave you can visit the Everett Police Department and have some fun too.

Along with the other festivities going on in the City that day, take a peek inside the Everett Police Department.  Crime Prevention activities and information booths will also be available.

Receive a “Passport to Police” and search the Everett Police Department maze.  When you complete the passport you will receive a prize.

Meet Detectives, Crime scene investigators, K-9 handlers and Colby the Crime Prevention Dog!

Take advantage of the FREE Everett Transit on July 4th!

Enjoy your Fourth Of July Holiday and Be Safe!

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970

June 29, 2011

Fourth Of July In Everett

The Fourth Of July festivities are approaching and you won’t want to miss the excitement.

Beginning at 11:00AM at Colby and Wetmore Avenues between Wall and 26th Streets you can catch the Colors Of Freedom Parade.  There will be Free Everett Transit Shuttles from the Everett Station.

From 1:00 to 11:00PM be at the American Legion Park located at 145 Alverson Blvd for the Colors Of Freedom Festival.

There will be live music, a food festival, activities for the kids and it is the perfect place to watch the Fireworks Show over Port Gardner Bay.  Note that there will be NO Parking at American Legion Park so catch a ride at the Everett Transit Station or at Everett Community College Broadway lot.

At 10:20 see the Thunder On The Bay Fireworks! Viewing areas  at American Legion Park and The Grand Ave Park at 1800 Grand Ave.  Note that there will be NO Parking at these areas.

All of the Everett Transit Busses will operate FREE of charge on July 4th!

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970

Could This Be The Most Beautiful Place In The World?

June 10, 2011

The Pacific Northwest is one of the most beautiful places in the country – maybe even the world.

Often it lacks the sun around here but honestly when the sun does make its appearance, there is no other place to be. One of my favorite places here is the Olympic Peninsula. Rain or shine, it doesn’t matter.   It is one of the MOST beautiful spots in Washington.  There are so many beautiful sights from the Olympic Mountains to the rainforest to the waterfalls, to the ocean.  It is definitely a must see.

Not too long ago, Tomi was an avid Twilight fan (she has since moved on to Justin Bieber) so we took a road trip from Everett to Forks (about a 2 hour drive) to visit the sites mentioned in the movie

Debbie Atwood Is Making A Splash In Snohomish County!

This photo was taken at La Push, home of “Jacob”.  La Push is a small community located about 14 miles out of Forks and home to the Quileute Tribe and known for its whale watching.

If you ever get the chance I would recommend visiting the Olympic Peninsula and if you’re not from Washington, the Pacific Northwest is one of the most beautiful places in country!

 

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970

June 7, 2011

The Marysville Strawberry Festival June 15th-19th, 2011.

It’s Strawberry Time In Marysville!

Debbie Atwood Is Making A Splash In Snohomish County!

Marysville Strawberry Festival

This is one of my favorite festivals in the area. The Marysville Strawberry Festival is one of the longest running festivals in the County. With the Grand Parade, Food Park, Adult Trike Races, Royalty Appearances, Carnival, Car Shows, Kiddie Parade, Fireworks and of course tons and tons of Strawberries and Strawberry Shortcake!!

Check out the links for a schedule of Events and enjoy a week of fun filled days and evenings in Marysville. It looks like there will be a great line-up of Music this year.

Don’t forget to check out the local berry farm. My daughter and I enjoy visiting Biringer Farms and filling a bucket or two of  Strawberries!!

I’ll be there, will you?

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970

Hydroplane Races In Everett

June 4, 2011

Experience the energy and excitement at Everett’s Silver Lake Hydro Plane races this weekend! Come on out to the lake and bring your shades! It’s actually going to be in the 70’s this weekend! The annual event is sponsored by the Seattle Outboard Association.

Set yourself up at the beach and watch the annual races.      

Where: Thornton A Sullivan Park

When: June 4, 2011

Time: Noon to 6:00PM

The Kiwanis Club will be there to sell refreshments.

FICO Score Impact and Recovery

May 26, 2011

The question is asked frequently regarding how much impact will a short sale, foreclosure, deed in lieu or bankruptcy have on my FICO score?

I checked out the FICO Banking Analytics Blog and found some very interesting information. FICO conducted a study of delinquencies regarding mortgages. In their study they looked at three different consumer profiles. All three profiles consisted of consumers who were paying as agreed on their mortgages.

Consumers with a 680 score .

Consumers with a 720 score.

Consumers with a 780 score.

The study then showed the impact on the credit score after each “phase” of delinquency. For example:

After the very first 30 day late on the consumers mortgage –

Consumer with a 680 score moved to 600-620

Consumer with a 720 score moved to 630-650

Consumer with a 780 score moved to 670-690

After the 90 day late on mortgage –

Consumer with an original 680 score moved to 600-620

Consumer with an original 720 score moved to 610-630

Consumer with an original 780 score moved to 650-670

Interesting huh? I’m not finished. Lets look at short sales, foreclosure and bankruptcy.

After completing a short sale or deed-in-lieu settlement with no deficiency balance

Consumer with an original 680 score moved to 610-630

Consumer with an original 720 score moved to 605-625

Consumer with an original 780 score moved to 655-675

After completing a short sale, with a deficiency balance

Consumer with an original 680 score moved to 575-595

Consumer with an original 720 score moved to 570-590

Consumer with an original 780 score moved to 620-640

Foreclosure

Original 680 score moved to 575-595

Original 720 score moved to 570-590

Original 780 score moved to 620-640

And Finally, Bankruptcy –

Original 680 score moved to 530-550

Original 720 score moved to 525-545

Original 780 score moved to 540-560

I found all of this information very interesting and definitely saw some kind pattern that caused me say, hmmmm, but wait, I’m not finished with the results of this study. Pattern or not, we all know the credit score is going to go down with any of these delinquencies but maybe more important is how long will it take to recover?

This is what I thought most interesting.

After the first 30 days late it would take the original 680 score consumer 9 months to recover. The 720 consumer, 2.5 years and the 780 consumer 3 years!

After the 90 day late period it would take the original 680 score consumer 9 months to recover. The 720 consumer 3 years and the 780 consumer 7 years!!

How about after Short Sale, Deed-In-Lieu settlement with no deficiency balance?

680 consumer will recover in 3 years

720 consumer will recover in 7 years

780 consumer will recover in 7 years

The results are the same with a deficiency balance.

Foreclosure-

680 consumer will recover in 3 years

720 consumer will recover in 7 years

780 consumer will recover in 7 years

Bankruptcy-

680 consumer will recover in 5 years

720 consumer will recover in 7 – 10 years

780 consumer will recover in 7 – 10 years.

Quote from FICO Banking Analytics –

In general, the higher starting score, the longer it takes for the score to fully recover.”

Granted the consumers score will gradually improve as time goes by and they demonstrate their other payments are paid as agreed but in all actuality it may take up to 7 – 10 years to fully recover for consumers that originally started with higher credit scores than consumers that started with lower scores.

I think this is very good information for any consumer that is looking at a possible short sale or foreclosure. There are consumers that have definite hardships that obviously show up in the original credit score and there are consumers looking at the so called “strategic default” that should consider the impact on their credit recovery time line. I have no opinion on either really but I do find it quite interesting!

Debbie Atwood Is Making A Splash In Snohomish County!

(425) 750-4970


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