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There are a number of road projects currently under construction or slated for construction in the coming months. These are just the few I've seen, but if you have others, please do let me know and I'll post it here. Getting along on South Hill is going to get better people, I promise!

Project #1 - Canyon Road Widening For those of you that are tired of Meridian, your options to get from North to South or vice versa are going to open up very soon. A couple years ago, they widened Canyon between 152nd and 160th and again between Military and 176th. There didn't seem to be any method to that madness. Well now you can see they are widening Canyon between 112th and 152nd as well. When complete, Canyon Road will be three lanes in each direction with a turn lane down the middle. SEVEN lanes of north to south goodness to speed you along to your destination. Estimated completion is September of 2009. However, it looks like the section from 128th to 152nd will be open very shortly as it looks like they have the first layer of pavement laid. For more info: http://www.co.pierce.wa.us/pc/abtus/ourorg/pwu/crp/crp5404constr.htm

Project #2 - 94th Avenue East Widening This project is slated to begin next week. Again for those of you trying to avoid Meridian, when complete, this project is going to be AWESOME! Many of you already use 94th Ave. to go from 512 to 152nd and avoid Meridian traffic. But as you know, during rush hour, the two lane road is severely cramped and at best, marginally better than Meridian. Starting Monday they will be widening 94th to two lanes in each direction with a turn lane down the middle. This won't happen overnight people, so you may want to find an alternative for the next 12 - 18 months, but when complete, this is going to really open up north/south traffic on south hill and probably relieve a good amount of stress on Meridan. The plan is to take it from 112th to 136th and add a light at 136th. For more info: http://www.co.pierce.wa.us/pc/abtus/ourorg/pwu/crp/crp5532constr.htm

Project #3 - Shaw Road to Main Street Extension Now for me, this is going to save me 5 minutes of commuting in the morning and evening. Shaw road is another you guys use to avoid Meridian and takes you from Pioneer to Military where it turns into 122nd Ave. E. and runs all the way to 176th. It literally can take you from one side of South hill to the other. But for those of you trying to use it to get to Highway 167, you know that once you got to Pioneer, you either had to go left or right and wind your way to either 167 or 512 to really begin your morning commute. No longer! They have started the project to continue Shaw road across the valley and have it connect with Main street very near my office. So now getting to 167 will be 5 minutes faster than it is now. Every second counts! For more info: http://www.cityofpuyallup.org/page.php?id=707

Project #4 - 122nd Avenue East Realignment at 136th For those of you using Shaw Road/122nd Ave. E. you've seen this one coming for awhile now and thankfully it's almost complete. Previously coming down 122nd, there was a jog at 136th to continue on your way. Now they've realigned the road and put in a light at 136th. This project should be complete in the next couple of weeks. This will save a couple minutes off the commute and allow traffic on 122nd to flow more freely by eliminating two stop signs. For more info: http://www.co.pierce.wa.us/pc/abtus/ourorg/pwu/crp/crp5145constr.htm

Project #5 - 152nd St. E. Widening at 110th Ave. E. Again, this project is nearly complete. Basically all they are doing here is adding a stop light at 110th avenue and 152nd street and widening 152nd to accomodate turn lanes. This will really be a convenience for those of you using 110th in the morning, you'll have a much easier time getting onto 152nd.]]> General http://hurlbuthomes.com/blog/index.php?itemid=65 Sat, 3 May 2008 19:25:00 -0400 http://hurlbuthomes.com/blog/index.php?itemid=64 Wake Up!I know the media likes to tell you that the housing market is in decline. I know you love to believe everything you see on TV and you read in the paper. But realize this, the market is One Buyer and One Seller, EVERYTIME. Are there a glut of homes on the market? Absolutely! Is it a buyer's market? You betcha! Are sellers worried that their home won't sell? Yep!

What sellers maybe don't realize today is that when their home goes on the market, especially in the spring and early summer, there are a BUNCH of home buyers out there that have not found "The One" yet and are chomping at the bit to get inside their home. Consider this exchange I had with a seller this morning (Note, this particular home went on the market yesterday):

Me: Hi, this is John Hurlbut from John L. Scott Real Estate in Puyallup. I have a client that would like to view your home this morning.
Seller: Oh! Um, this morning? Um, this morning won't work for me, how about after lunch?
Me: Oh, are we not able to view the home unless you're present?
Seller: (Somewhat embarassed tone) No, that's not it, it's just that I didn't expect anyone to call this morning, so when I left, I locked the front screen door and now you can't get to the keybox. Can you come after lunch?
Me: Sorry, my BUYER only has a limited window of time this morning and we won't be able to come by after lunch. Maybe we can set an appointment for NEXT WEEK sometime.
Seller: Oh, (sounding dejected) OK. Thanks.

Sellers, wake up! There ARE buyers out there. What are you doing to attract them? Is your home priced right? Right in this market means better than everyone else. Is it staged? I know your home has been on the market for nearly four months and you haven't had a showing in two weeks, but that does NOT give you latitude to leave your dirty underwear on the floor, the bed unmade and dirty dishes in the sink. Our marketing can only do so much. Are you inviting clients in? Or are you detering them from viewing your home? Is your screen door unlocked so the agent showing the home can get to the key box? Do you have odd showing hours and a complicated set of rules for viewing the home? No showings on the second full moon of the month, no showings on any day that happens to be the second Monday after the 29th of February?

The buyers are out there and they ARE buying homes. What are you doing to make sure they buy yours?

If you want more buyers for your home, I've got a comprehensive marketing strategy that goes to work BEFORE your home goes on the market. Let's make sure the buyers see your home OK? Call me . . . operators are standing by . . .]]> General http://hurlbuthomes.com/blog/index.php?itemid=64 Fri, 2 May 2008 11:45:00 -0400 http://hurlbuthomes.com/blog/index.php?itemid=63 HOT Lane Toll SignMany of you are familiar with the concept of an HOV (High Occupancy Vehicle) lane, or carpool lane, but you may have not heard of a HOT lane. Well starting Saturday May 3rd, many puget sound commuters are going to become very familiar with the term. The HOT lane is a High Occupancy Toll lane. In this blog, I touted the benefits of getting a Good to Go pass to use the new Narrows bridge. Starting Saturday, your Good to Go Pass will also allow you to travel from Auburn to Renton much quicker during rush hour.

On Highway 167 between Auburn and Renton, the HOV lanes have been converted to HOT lanes. You'll now see a double white line separating the general traffic flow from the new HOT lanes. Every so often there will be a break in the double white line. And just beyond the break, you'll see there are new devices hovering over the HOT lane. Finally, there are new digital signs just as you get to each of the break points. Here's how each of these things will impact your morning and evening commute:

• Double White Lines The first thing to note is that it is now ILLEGAL to cross over teh double white line regardless of the passenger status of your car. Single driver or carpool must stay in the HOT lane untl a break in the double white line permits exiting.
• Breaks in the Double White LineTo enter or leave the HOT lane, now you must wait for the break in the double white line. Again, crossing the double white line is now ILLEGAL.
• Devices Hovering Over HOT Lanes Now you'll see little gray devices hovering over the HOT lane. These are the readers that pick up your Good to Go pass and record your trip in the lane.
• New Digital Signs Now at every entrance point there will be a new sign that shows a toll. This is what your Good to Go account will be charged should you enter the lane at this point. After you enter the lane, there will be a reader that reads your transponder and records your trip. The tolls will vary based on time of day and traffic flow. The slower normal traffic is, the higher the toll to enter the HOT lane.

IMPORTANT NOTE: You may be thinking, what if I'm a legitimate carpool AND have a Good to Go pass? Will I be charged if I drive in the HOT lane? The answer is maybe. You have to get a "Shield" from the Good to Go folks that is placed on your windshield over your Good to Go pass so you are not charged for driving in the HOT lane. But you MUST remember to put the shield on, or you WILL be charged.

Overall, I think the HOT lanes are a good progression for traffic in the Puget Sound. However, I do see lots of potential for abuse. So expect there to be stepped up patrols on highway 167 looking for people crossing the double white line. You could simply avoid the readers by entering and exiting the HOT lanes at unspecified points and never be charged. If a police officer saw you travelling in the lane as a single drive with a Good to Go pass, he or she would simply assume you had entered correctly and been charged. THIS is why crossing the double white line is illegal. I can also see many carpools forgetting to shield their Good to Go passes and disputing their monthly Good to Go pass. I think for awhile anyway, this is going to be a big headache for the WSDOT. But for us little people, if we need to get from Puyallup to Bellevue more quickly, the HOT lane may be just the ticket!

For more information visit the HOT lane site on the WSDOT website at:
http://wsdot.wa.gov/Projects/SR167/HOTLanes/HowTo.htm]]> General http://hurlbuthomes.com/blog/index.php?itemid=63 Thu, 1 May 2008 10:19:04 -0400 http://hurlbuthomes.com/blog/index.php?itemid=62
Read on from Forbes Magazine:

Four factors are widely seen as affecting whether a housing market is a good one for sellers: job growth, amount of new construction, vacancy rates, and credit availability.

Forbes magazine used a variety of resources to determine how the country’s 40 largest metro areas fared according to these measures. The result is this list of top 10 cities for sellers:

1. San Jose, Calif. Because of a tough regulatory environment, new home construction dropped 63 percent last year.
2. San Francisco. When the conforming loan limit recently jumped from $417,000 to the maximum $729,750, that made credit much easier to get for many of the city's home buyers.
3. Salt Lake City. The 3 percent annual job growth rate, paired with a declining inventory of existing homes and one of the nation’s sharpest declines in construction made this market a good one for sellers.
4. Austin, Texas. Texas is very affordable, plus the city has the nation’s fastest job growth at 4.1 percent.
5. Kansas City, Mo. The number of unsold, vacant houses dropped by 40 percent last year.
6. San Antonio, Texas. Jobs are growing by 3 percent and construction starts have dropped by 42 percent.
7. Denver. The 49 percent drop in construction starts paired with the 2 percent rise in new jobs are good news for sellers.
8. Providence, R.I. Vacancy rates at 1.6 percent combined with a 42 percent cut in inventory help sellers.
9. Charlotte, N.C. Moderate prices and strong job growth bode well for sellers.
10. Seattle, Wash. Strong job growth and a 42 percent decrease in new home construction are good news for sellers.

Source: Forbes, Matt Woolsey (04/07/08)
]]> General http://hurlbuthomes.com/blog/index.php?itemid=62 Fri, 11 Apr 2008 16:30:11 -0400 http://hurlbuthomes.com/blog/index.php?itemid=61
OK, I don't think there is a 12 step program for mortgage junkies, but I suppose in some way their could or should be. When I bought my first home in 1996, I paid $90,000 for it and obtained an FHA loan with 3% down and the dreaded PMI that came with it. I was so happy to just be able to buy a home that I really didn't care what the terms or conditions of the loan were, the place was mine! A couple of years later, after I got a little smarter, I realized that the PMI was eating into my monthly payment quite a bit and I asked my mortgage person how to get rid of it. Easy! He said, we just need to do an appraisal, see if you have 20% equity and if you do, we'll re-finance you! So out came the appraiser and in a matter of a few weeks, I had spanky new 30 year conventional mortgage, oh and my car and credit cards were paid off too!

A few years after that, I had a new car and even more equity, so I re-financed again into another 30 year conventional mortgage and paid off even more debt. A couple years later, after getting a new job, I thought well why not take some of this additional cash and pay down my mortgage, so I re-financed AGAIN and got into a 15 year conventional mortgage. After starting in Real Estate, I decided to do some major upgrades to the home and re-financed again into a 30 year fixed mortgage and put in new windows, air conditioning and a sprinkler system.

When I sold my home and bought my new one, I sold my home for $247,000, but owed $200,000 on it! I had obviously been living well above my means, but in a rising market, it really didn't much matter. The new mortgages (yes, that's plural) on my new home are a 5/1 Interest only ARM on my first and a 30 year fixed for my second. I put 5% down on the home, so 80% was financed on my first and 15% was financed on my second to avoid the dreaded PMI. I've vowed to never take money out of my home again to finance consumer goods. I'll suffer with my car payment and any credit card debt I have so as to not touch the equity in my home. Especially in these uncertain times.

What's the point of this article? There has been much negative attention surrounding interest only, adjustable rate, zero down, option payment plans, etc. that I merely wanted to point out that any loan you get into can be a good loan, despite the terms. You simply have to know what you're getting into.

When I bought my new home I was positively convinced that when my 5/1 interest only ARM reset that I would have gained more in equity through appreciation than by paying on a 30 year fixed loan. I did hedge my bets a bit by putting 5% down AND paying down the debt ever so slightly by having a traditional 30 year fixed loan for my second. Now almost two years into the loan, I probably have not gained any equity in the home, but I've still got 3 years for that to turn around. Even the worst predictions have the housing slump turning around by late 2009. So I will be fine.

I've had just about every type of loan out there, FHA, Conventional, Interest Only, Adjustable Rate, etc. And I can tell you they're not as bad as the media likes to make them out to be. Depending on your situation and your plans for the home, length of time you're going to live there, etc., there is an ideal mortgage for your situation. So sit down with your Real Estate professional or Mortgage professional and determine what that type of loan is and why. And for goodness sake, if it doesn't feel good in your gut, DON'T SIGN! AND finally, if you go to closing and anything significant has changed (interest rate, monthly payment, etc.) since your good faith estimate was done, DON'T SIGN until you talk to someone that can give you a straight answer as to why it changed.]]> General http://hurlbuthomes.com/blog/index.php?itemid=61 Wed, 9 Apr 2008 16:27:53 -0400 http://hurlbuthomes.com/blog/index.php?itemid=60
I quickly told her that much of the negative press that has been going around lately has been focused on the loans people have obtained in the past few years. I went on to explain that as is often the case, the media isn't necessarily giving you the whole story. There are MANY SAFE zero down loan programs and many of them are government insured.

The tension in her face relaxed a little bit and she prodded me for more information. I explained that veterans have been getting the benefits of zero down programs for decades with the VA loan program. And further, an FHA loan combined with the likes of a Nehemiah program can also get you into a home with zero down and you've got the security of an FHA loan behind it all. Couple all that with homeowners more than willing to do whatever it takes to attract a buyer that can fog a mirror, let alone actually qualify to buy their home and it's a perfect time for first time home buyers to think about zero down loan programs.

Are zero down programs for everyone? Absolutely not, it would be reckless for me to suggest otherwise. But to imply that zero down programs shouldn't even be considered, as the main stream media often suggests, would be equally as reckless. So without further ado, here are John's top 5 reasons one should and should not consider a zero down program:

When to consider a zero down program:

• You don't have any money for a down payment
• You intend to stay in the home for a minimum of three to five years
• You understand that IF you need to get out of the home before the three to five year mark, you could be faced with owing more money than the sale of the home would net
• Your credit score is above 620 (Ideally above 700)
• You've discussed with your real estate professional and mortgage consultant your individual situation and have decided this is the best program for you

When NOT to consider a zero down program:

• You have 5% or more ear marked for a home down payment. (Ideally 20% to avoid PMI)
• Your housing situation is uncertain (Yes VA eligible current service members, this includes YOU!) or you do not intend to own the home for at least 3 years (5 is better)
• You have a credit score of less than 620 or have a poor track record of paying your bills on time
• You got some unbelievable unsolicited offer in the mail (Or heard on the radio or TV) from an unknown mortgage company that seems just too good to be true! (NOTE: It probably is)

The best thing you can do is sit down with a trusted advisor (Your Realtor or Mortgage Pro) and discuss your individual situation. The above are only guidelines, but zero down programs do not have to be evil and in fact they can benefit many prospective home buyers that may not otherwise be able to purchase a home.]]> General http://hurlbuthomes.com/blog/index.php?itemid=60 Mon, 7 Apr 2008 16:00:30 -0400 http://hurlbuthomes.com/blog/index.php?itemid=59 Prescription BottleThe Puyallup Real Estate landscape has exploded in recent years. It seems like there is a Wallgreens or Rite Aid on nearly every corner. But you know what? Sometimes it's the little guys that really win you over. One of those "little guys" is Kirk's Pharmacy at Sunrise. My wife turned me on to this little pharmacy that could about a year ago. I should have posted back then, but sometimes you forget the ones you love, so Kirk, I'm sorry. I'm trying to make it up to you now.

Located in the Sunrise Medical Campus (110th Avenue and Sunrise Blvd.) Kirk's Pharmacy at Sunrise reminds me of the days I used to go into Ludwig's pharmacy on South Tacoma Way with my grandmother. Ludwig (I think!?) used to greet my grandmother by name and toss me a roll of life savers every time we came in. I get the same feeling when I go into Kirk's.

I have a prescription that I need filled every month. I used to go to Wallgreens on the corner of 176th and Meridian. While Wallgreens was convenient because of their drive up window, Kirk's has them beat hands down in service. Sometimes Wallgreens would take days to fill my prescription even though they claimed it would be ready in an hour. There were always long lines to deal with both in the store and in the drive up. I'm almost scared to post how good Kirk's is for fear they'll become just as busy. I want to keep it all for myself. But they have a phone in service just like the other pharmacy. They usually say the prescription will be ready within 2 hours. There is almost NEVER a line when you go to pick up. And if you forget to call it in, they'll fill it there on the spot. Their hours aren't as long as the other place, but a little planning and you shouldn't have any hassles. They've taken my insurance just like the other place and I feel like they know my name. It's a wonderful experience to find a hometown store like this.

If you live out on South Hill, you owe it to yourself to get your prescriptions filled at Kirk's. You'll never go back to one of the big box stores.

Kirk's Pharmacy At Sunrise
11212 Sunrise Blvd E Ste 204
Puyallup, WA 98374
(253) 770-3408

]]> General http://hurlbuthomes.com/blog/index.php?itemid=59 Fri, 14 Mar 2008 01:15:00 -0400 http://hurlbuthomes.com/blog/index.php?itemid=58 Programmable ThermostatI have the very good fortune of living next door to my longest standing friend. Ken and I have been friends since our first day in Kindergarten. Last month we got into the discussion of heating bills. Our homes were both built by the same builder, using the same components. My house is about 200 square feet larger than Ken's, but for all intents and purposes, our homes are the same.

As we were discussing our energy bills, it turns out my bill was on average about $100 per month higher than his. Or about 50% higher. That's significant. So I called Puget Sound Energy to find out what the breakdown was. About 67% of my bill was my gas bill and 33% was Electric. The only difference between our two homes is that I have a gas stove, and his is electric. I can't imagine that our stove would contribute that much more to the bill, especially since he has two kids.

So I started examining the heating system. Again, same components. I had set my heat to 69 degrees when we're home and 66 degrees when we're asleep or gone. I had heard somewhere to keep your set points within about 3 or 4 degrees of each other for maximum efficiency. As I was working from home one day, I noticed that our heat would come on for about 10 mintues, then shut off for 10 minutes. This cycle was repeated all day. So I changed the setting to 64 degrees while we're gone and asleep, and 69 degrees while we're home.

Working from home later in the week, the house held steady at about 66 degrees. The heat didn't come on even once. I haven't gotten this month's bill, but I'm REALLY curious to see how that affected it.

Reading Handy magazine the other night, they said there should be an 8 degree spread between your set points. So today I did further research on it and came across Energy Star's website on Programmable thermostats. According to their usage guidelines, your set points should be 8 degrees apart in the Winter and 4 degrees apart in the Summer (if you have A/C). So I'd take their word for it. Hopefully this helps even one of you to save some money on your energy bill. I'll update you when I get our monthly bill as to how much I saved.

Here's the link to Energy Star's Website Once there, click on their "Proper Use Guidelines" and read the subtext below the article for the 8 and 4 degree separation.

UPDATE: I just got my Puget Sound Energy bill and it was a full $60.00 less than last month. AWESOME! Check your thermostats!]]> General http://hurlbuthomes.com/blog/index.php?itemid=58 Thu, 13 Mar 2008 17:49:39 -0400 http://hurlbuthomes.com/blog/index.php?itemid=57
In fact, when I purchased my first home in 1996, I used an FHA loan to do it. The requirements were that you only needed 3% down. When I bought that home it was only $90,000, so coming up with the requisite $2,700 wasn't too hard. (Thanks mom & dad!) However, as average prices have been on the increase and the average price of a residential home in Pierce County now over $300,000, coming up with 3% down ($9,000) is becoming more and more difficult for first time home buyers.

Also, FHA loan limits (the maximum you can borrow for an FHA loan) have recently lagged behind our tremendous price appreciation, so the FHA loans had fallen out of favor because they catered to less than 20% of the homes on the market. Enter the subprime loans. We all know where that got us!

So wit the new FHA Modernization bill, loan limits have receently been increased. In Pierce, King and Snohomish counties, that loan limit is now $567,500! This allows move up buyers now to purchase a home and not be subjected to Jumbo loan rates (traditionally 1% higher than non-jumbo loans). It also means that at least in Pierce County and FHA loan will be available for 83% of current inventory!

OK, but what about 1st time home buyers? Well here's where it gets really good! We need the first time home buyers to buy so the move up buyer can move up right? Well the 3% down payment requirement has been a sticking point with cash poor buyers. They have good credit, decent income and stable jobs, but no savings. The new bill, if passed (hopefully this week) would lower the FHA down payment requirements to 1.5% or on the $300,000 home, $4,500. A much more doable alternative for some people.

But wait, what if buyers have ZERO downpayment and no money to pay towards closing costs? Again, if they have good credit, stable jobs and decent income, we have options for them. Stable, secure options. The Neamiah program is still in effect and allows for the seller to contribute up to 6% towards a buyer's closing costs and down payment. With only needing 1.5% down, a buyer would normally only need up to 4.5% of the purchase price to buy a home. So YES, we can still do ZERO down!

So what are you waiting for! Call me today! Let's find you that home of your dreams!

Here's a link to the Money article about the Modernization bill:

Money Article on FHA Mordernization Bill]]> General http://hurlbuthomes.com/blog/index.php?itemid=57 Tue, 11 Mar 2008 13:31:53 -0400 http://hurlbuthomes.com/blog/index.php?itemid=56
Today I sat down with one of my clients at the closing table. She was selling her home and we had received all the closing documents. As we were going through the HUD-1 settlement statement (see end of article for a definition), the escrow officer read off a number of the charges and credits. The seller had originally agreed to pay $6,000 of the buyer's closing costs. However, during the transaction, the buyer's lender would only allow about $4,600 to be paid by the seller. So the home price was adjusted downward by $1,400 as were the closing costs. However, as the escrow officer read off the sales price, it was correct, but they still had $6,000 listed as the seller paid contribution. The eagle eyed real estate agent (that's me) said "Wait a second, there was an addendum changing those closing costs to $4,600". The addendum was found, the correction made, and my seller was super happy that they had an additional $1,400 coming back to them.

Now, this error would have eventually been caught by either the buyer's lender or the escrow officer, so my seller was never really in danger of losing that $1,400. But it just goes to show you that having another set of eyes that has been through this hundreds of times is always beneficial to you.

Looking to buy or sell a home? Don't be left alone, call a Realtor! In Western Washington? Better yet! Call me!

NOTE: A HUD-1 Settlement statement is typically the first item you will see when you go to closing when either buying or selling a home. It outlines all the credits and debits between all parties, buyer, seller, lender, title, escrow, etc. and shows the buyer and seller how much they must bring in to close the transaction or what amount they will be receiving back at closing.]]> General http://hurlbuthomes.com/blog/index.php?itemid=56 Fri, 7 Mar 2008 15:31:45 -0500