Olympia and Thurston County Washington
Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from national market statistics to greater Olympia area home value trends and Thurston County happenings. That’s because we care about the community we serve and want to help you find your place in it. Please reach out if you have any questions at all or have a question or situation we can bring clarity to, and maybe it will end up being an article to help everyone!

March 27, 2020

What Can We Learn From the Covid-19 Coronavirus Crisis

It's Time to Take Stock of Something Other Than Toilet Paper

Can you believe that just a few weeks into the Covid-19 crisis large companies like Boeing were asking the U.S. Government what they plan to do to help them? Soon small business owners, homeowners and tenants will be asking the same question. Maybe we need to take this opportunity to make a plan to help ourselves before the next crisis, large or small, comes around.

Join us for Financial Peace University, and put an end to the madness!

Financial Peace University 2020

 

March 26, 2020

A Great Tool for Teachers to Communicate with Their Students

MVP Realty Group loves using tech to serve our clients and to make them feel a personal connection in times when meeting face-to-face just isn't possible.

During this time of distancing as a response to the Covid-19 coronavirus crisis, teachers might be struggling to find ways to communicate effectively with their students. Systems like Schoology are great, but it's difficult to maintain a personal connection and engagement with your students using email. MVP Realty Group wants to help!

We've worked with our video messaging provider, BombBomb, to make the same system we use in our business every day absolutely FREE to teachers. Just follow the link below to take advantage of this special offer.

When you can't be there, be there in video. Though it's not at all the same as being there in the classroom with your students, we think you will find that video messaging will help to maintain those relationships you have worked so hard to cultivate with your students and their parents.

Click Here to for Teachers' FREE Video Messaging

 

Posted in Community
March 25, 2020

Three Reasons Why Pre-Approval Is the First Step in the Homebuying Journey

Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey | MyKCM

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd. Here are three reasons why pre-approval should be your first step in the homebuying process.

1. Gain a Competitive Advantage

Low inventory, means homebuyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. For one, it shows the sellers you’re serious about buying a home, which is always a plus in your corner.

2. Accelerate the Homebuying Process

Pre-approval can also speed up the homebuying process, so you can move faster when you’re ready to make an offer. In a competitive arena, being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

3. Know What You Can Borrow and Afford

If you’re pre-approved, you also have a better sense of your budget, what you can afford, and ultimately how much you’re eligible to borrow for your mortgage. This way, you’re less apt to fall in love with a home that may be out of your reach.

Freddie Mac sets out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

Local real estate professionals also have relationships with lenders who can help you through this process, so partnering with a trusted advisor will be key for that introduction. Once you select a lender, you’ll need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac also describes the ‘4 Cs’ that help determine the amount you’ll be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or Cash Reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

While there are still many additional steps you’ll need to take in the homebuying process, it’s clear why pre-approval is always the best place to begin. It’s your chance to gain the competitive edge you may need if you’re serious about owning a home.

Bottom Line

Getting started with pre-approval is a great way to begin the homebuying journey. Let’s get together today to make sure you’re on the fastest path to homeownership.


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Posted in Buying
Feb. 19, 2020

Financial Peace University is back May 4th 2020!

Did you know that 76% of American's live paycheck to paycheck and 64% can't cover a $1000 emergency? Join MVP Realty Group as Dave Ramsey shows us step-by-step how to create a budget, pay off debt, make wise spending decisions, and save for the future.

We're switching it up this year! This is a unique opportunity to do 2 classes per week. Commit to 30 days to get a solid start on your financial goals! We will be meeting every Monday and Thursday, beginning May 4th from 6:30-8pm. The class is complimentary. The only cost is for the class kit which is available online for $99. Trust us. It's worth it! Find Out More or Register with us below!

Posted in MVP Events
Feb. 10, 2020

The Price Is Right

How Pricing Your Home Right Makes a Big Difference

How Pricing Your Home Right Makes a Big Difference | MyKCM

 

Even in a market where there might be big buyer demand for homes and low inventory, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even in a "seller's market", pricing it right – or pricing it to sell immediately – makes a big difference.

Here’s the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high. We've seen this happen and, in the end, the home sold for less than it truly should have.

Bottom Line

If you’re thinking about selling your home this year, let’s get together so you have a professional on your side to help you properly price your home and maximize demand from the start.

Posted in Pricing, Selling
Jan. 25, 2020

FAQ: Why Make a Back-up Offer?

Why should I make a back-up offer on a property already Pending? Why not just wait until the home comes back to market if the current buyer doesn't complete the purchase?

When you make a backup offer, if accepted the seller holds your offer in second position and commits to notifying you if and when your offer automatically moves into first position due to the failure of the first buyer to complete their purchase. No other buyer can come in and take your second position, nor can the seller change any terms of your agreement. And, at any time prior to that notification you have the right to terminate so that you can go purchase another property.

Only if you attain that first position is it advisable to deposit any earnest money or invest in a home inspection, and then you still maintain your right to terminate for any reason or no reason at all with a full refund of your earnest money during that inspection period. But it is still important to have a solid financing plan for that property to present to the seller with your back-up offer, so don't skip that step.

You could choose to wait and watch for that property to come back to the market in an Active status. You won't know the sale failed until it does. And it may never come back if another buyer finds a place for themselves in a back-up position making it impossible for you to have another go at the property.

Bottom Line
There's really no downside to being in a back-up position on a property you like as long as you have an experience broker drafting your offer and guiding you through the process. Just don't put all of your hopes in it. Keep looking for the next property.

Posted in Buying, FAQ
Jan. 24, 2020

Homebuying Checklist

2020 Homebuying Checklist | MyKCM

Some Highlights:

  • If you’re thinking of buying a home, plan ahead and stay on the right track, starting with pre-approval.
  • Being proactive about the homebuying process will help set you up for success in each step.
  • Make sure to work with a trusted real estate professional along the way, to help guide you through the homebuying steps specific to your area.
Posted in Buying, Mortgages
Nov. 20, 2019

Charity Drive 2019

 

It's time for MVP Realty Group's annual food, fund and clothing charity drive!! 

We will be collecting funds, non-perishable food items for Thurston County Food Bank and warm clothing for St. Vincent de Paul from now until December 13th, 2019. Drop off your donations at our office location, 1219 11th Ave SE, Olympia,  from 9am to 5pm. MVP WILL MATCH MONETARY DONATIONS!

Guidelines for donations:

Before you embark on the task of collecting food items, consider this alternative: Cash! Fund donations reach far and wide as Thurston County Food Bank uses cash to purchase items in bulk. This food is available at a deep discount and this year MVP will match all fund donations up to $500.

Cash aside, we are welcoming all non-perishable food items and warm clothing donations. Please make sure donations are undamaged before donating. 

  • We cannot accept expired or partially used/opened food items
  • All clothing donations  must be in decent shape - no holes, rips, stains, tears etc...
  • Unfortunately, we cannot accept perishable items (fresh produce, dairy, raw meat etc...) but your CASH donation will allow the Food Bank to purchase these items.

Food Donation Ideas/ Most Needed Items: 

  • High protein food such as canned chili, peanut butter, beans, or canned meat are highly desirable items.
  • Pasta and macaroni and cheese.
  • Basic staples such as flour, sugar, coffee, cereal etc...
  • Canned fruits and vegetables.
  • Soup/stew/broths
  • Baby food, baby cereal, and formula.
  • Small packages (1-6) of paper towels, toilet paper etc...
  • Warm clothing, shoes and winter accessories (gloves, hats, scarfs etc...)
Posted in MVP Events
Oct. 16, 2019

FAQ - Inspection: Buyer Counters Seller

So, what happens if the buyer rejects the seller's response to their inspection demands and offers a counterproposal? MVP Realty Group CEO, Matthew Plummer, explains.

Posted in Buying, FAQ, Selling, Video
Sept. 13, 2019

The Role Access Plays in Getting Your House Sold

The Role Access Plays in Getting Your House Sold | MyKCM

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access you can provide to MVP to be able to show your home.

Here are five levels of access you can provide to a buyer, each with a brief description:

  • Lockbox on the Door – This allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  • Providing a Key to the Home – Buyer’s agents would need to stop by our MVP office to pick up the key and return it after, which will delay showings and limit the number of buyers who can see the home that day.
  • Open Access with a Phone Call or Text – The seller allows showing with a little notice by phone or text, perhaps just an hour or two.
  • By Appointment Only – Example: 24-48 hour notice. Many buyers who are relocating for a new career or promotion may fly in for just a couple days in order to tour homes, or they might start working in the Olympia or Joint Base Lewis McChord area prior to purchasing their home and wish to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  • Limited Access – Example: the home is only available for a couple of hours a day. This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all. It's all about the full package when marketing your home.

Posted in Selling