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By Courtney Cooper, June 2, 2008 2:34 pm

Seattle suburb real estate and gas savings? Is she serious? Here is why I think this is a good idea:

Seattle suburbs offering the most gas savings bang for your buck and also good schools, houses, neighborhoods? Lynnwood, WA houses, Mountlake Terrace houses, Brier houses – these are all conveniently located right in that intersection of I-5 and I-405 – perfect for transit commute to Everett, Seattle, or the Eastside – all have access to the large interconnecting trail system for biking across Puget Sound. The Park and Rides are fabulous, the shopping is amazing, and there are movies and restaurants galore…. Houses are available in all ranges and have not risen to the astronomical levels of other Seattle suburbs offering comparable properties. This is why these are my picks for gas saving suburbs…..

Interested in Brier real estate? Lynnwood WA real estate? Mountlake Terrace real estate?  realestate@cooperjacobs.com

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting – I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Seattle Suburbs Homes in Shoreline, Edmonds, Redmond, Kirkland, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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By Courtney Cooper, April 29, 2008 5:57 am

I

I haven’t always been one of those Realtors who is hot on new construction. The plain truth is that in a stronger Seattle real estate market new construction wasn’t always the best deal. In fact, Seattle buyers who insisted on new construction usually paid a premium for it. There simply was not much in the way of negotiation.

Good things about new construction:

1. Wonderful big open floor plans
2. New Everything – nothing to fix
3. Maintenance up front is usually cheaper because all systems are new
4. Wonderful features designed for how we live now – bigger bathrooms, etc.
5. Builders are definitely starting to lean towards energy efficiency and Built Green aspects

Less Desirable points of new construction to some buyers:

1. Bigger price tag (negotiable!!!!)
2. Small Yard or no yard in most cases
3. Inconsistent architecture when new construction is plopped down in the middle of somewhere
4. Those funny retaining ponds
5. Some cookie cutter designs at times – definitely not custom in most cases

There is a very different story in Seattle new construction and Seattle suburb new construction now. If you are a non contingent buyer (meaning the sale doesn’t depend on you selling your current home) then you are in a window of golden opportunity right now! You can negotiate on price, perks, upgrades, and bonuses – plus get your closing costs paid in most cases. In addition, I like to make sure my buyers get a refrigerator and sometimes a washer and dryer of their choice!

Seattle suburbs new construction areas that have some nice developments right now:

Lynnwood, Everett, Snohomish, Mountlake Terrace, Brier, Bothell, Redmond, Mill Creek Marysville, Lake Stevens, and Lake Forest Park

These are all in different price points – there are townhomes, too, but also larger homes. The developments I am touring have some nice features and are definitely worth a look if you are interested in Seattle suburbs new construction.

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting – I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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By Courtney Cooper, April 9, 2008 11:21 am

Short sales are popping up more and more across the Seattle area. Buyers need to be aware of whether not a potential property is a short sale because the offer process is quite different.

Here is the NWMLS definition of a short sale:

“A “Short Sale” is a sale that does not produce sufficient funds to cover the existing monetary encumbrances against the Property, closing costs, real estate commissions, and other financial requirements of closing. Seller’s creditor(s) are those third parties who have an interest in the Property in the form of a deed of trust, some other security, or a lien (e.g. tax lien).”

See my problem with a short sale listing is that buyers go into the process without the full knowledge of how different it is from a “normal” transaction. The NWMLS has come up with a form to help, but making sure to use a short sale agent in the process is the best plan of attack. Short sales can be great deals, but knowing what is involved is key.

Knowing that a listing is a short sale is also key since there are no guarantees as to price or commission in a short sale. The offer is (or should be) always signed subject to lien holder approval. The lien holder almost always inevitably comes back with a higher price even if you offer the list price and they also usually come back with a lower commission amount for the two agents involved. False advertising all around in my opinion. The MLS is now stating that a short sale listing must be disclosed. This is a step in the right direction in my opinion.

Another really needed change: Short sale properties typically stay marked as “active” in the MLS while the approval from the lien holder is being obtained. This is frustrating for buyers out there and also bad for the MLS stats. I think the short sale numbers are actually seriously dragging down the area stats overall and the new rule is a helpful one in that. The properties with offers which are waiting for approval will be marked “pending – BU” until they go to “pending” and then “sold”. I am extremely pleased with this development which will be good for everybody. Other sellers in the neighborhood who may be waiting for a distressed property to come off the market before they put theirs on can now have an easier time without false lower priced competition.

Introducing Form 22SS:

The MLS’s short sale addendum for Washington state (Hallelujah!). It isn’t perfect, but it is going to help clarify a lot of the process and steps that have been unclear in the past. First of all the from states that the property is a short sale and that the lien holder has to approve the offer. The form then gives the seller so many days (default is 30 days) to get that approval. Mutual acceptance is explained as when the lien holder approval is delivered. 22SS Gives the buyer the option of checking a box to either say that the seller can accept other offers for lien holder approval while they wait for their answer or not. My advise on that to buyers is check the box that allows your deal to be the only deal in town. Of course, my advise for a seller is usually the opposite depending on the situation. Lastly, the new from gives the buyer the right to back out of the deal at any time prior to lien holder approval.

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By Courtney Cooper, March 20, 2008 4:01 pm

Seattle real estate has softened, but we certainly are not “in the tank” as I read another broker put it.

Instead, the 2008 market is very different, and those who are used to the easy flow of the past few years need to step up to a different ball field. This includes all parties to the transaction!

Buyers
need to understand that there are some incredible deals out there right now! Prices are generally very good as sellers try to compete with short sales and foreclosures that are sneaking on to the market. Seattle buyers have been complaining about a seller’s market for years and now find themselves in a buyer’s market finally! Even with this combined with the lower interest rates, there is still some reluctance to pull the trigger! I personally think there could be a few reasons for this hesitation which include uncertainty based on our political climate, uncertainty in the economy, and also a general lack of confidence in the strength of the housing market. Well, I have no idea who will end up in office, but I can tell you that our Puget Sound Economy is generally very good and jobs were up the last time I checked. People are also still buying and selling real estate even if prices have come down in some areas. Seattle is still one of the most undervalued West Coast cities and we are a major metro. If you are on the fence, get off.

Sellers
– Price your home reasonably and please be open to a negotiation. It isn’t personal –it’s just business. The buyers in 2008 like your house a lot, but they have a lot to choose from and they want to negotiate. De-clutter it, have it professionally Staged by an accredited Stager, and make it easy to show. Don’t skimp on commissions either – this is not the time to be choosing any other REALTOR except for a FULL service REALTOR – oh and make sure they in fact are an actual REALTOR. Did you know that not all real estate agents and brokers are REALTORS? The term is REALTOR, not realtor – it is a proper noun – and REALTORS actually abide by a higher standard of practice including a code of ethics. You need someone with a high level of expertise in marketing your home. This is also not the time to try a FSBO – stick with a market expert to guide you through 2008!

Agents & Brokers:
Be free with your information – that is what 2008 and beyond is about. There is value in sharing information rather than guarding it. In the past, we have tended to keep our knowledge close to the vest and in this changing market the consumer is looking for answers well before they make a purchasing decision. Open, honest, and down to earth advice and guidance is a must for a new market.

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting – I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

 If you are thinking of relocating to Seattle, I am an expert at Seattle Relocation services and can help you find the perfect home while making sure it is a solid financial investment! 

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By Courtney Cooper, March 17, 2008 10:33 am

Seattle real estate is in a buyer’s market, but are you looking for a way to get into a Seattle house even cheaper?

Seattle buyers: You might consider a short sale, but be prepared to wait and wait and wait. Not only will you not get an answer immediately when you put in an offer for a short sale, you will more than likely have to wait for weeks and weeks.  The bank is in no hurry to sell you this house for $50,000 or more under market, and they also like to drag their feet to wait for a better offer.  If you want the deal, you have to be very patient and understand what you are getting in to.

What is a short sale?

Simple Short Sale Definition:  A Short sale is when the seller owes more than the house can be sold for in the current market, so the bank has to agree to write off the difference and sell the house for less than they are owed.. Coming up with an acceptable price for the bank when they are losing money on a loan can be tricky and requires someone who is willing to go to bat for both parties – the buyer who wants to get a good deal and the seller who wants to get out of a loan without a foreclosure on their record. It is also in the bank’s best interest because they want to save on the time and money it would talk to foreclose on a property that is in arrears.

The problem? 

 There are no guarantees that just because a house is listed for a certain price that it will sell for that price or even close to it.  The listing agents list these short sale homes as “subject to lien holder approval” in the agent only remarks.  I strongly think that this lingo should also be put in the public comments so that a prospective buyer is well aware that the price is not a definite and that even the sale is not a definite until a lien holder approves of it. In fact, in most cases if you put in a full price offer, the bank will likely counter back at a higher price than the property is listed at! Doesn’t seem fair does it? There is a difference between an approved short sale and a short sale. With an approved at least there is some guarantee of price range, but the fact of the matter is that most short sales listed are not approved short sales. It is just too difficult to get a bank to pin down a number without an offer in front of them!

Good news!

The good news is that a Seattle short sale can work out for all parties involved and benefit all! Make sure you are working with someone that knows how to do a short sale! Search for Seattle Short Sales.

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting – I love my clients and work hard for them! Please call me if you are looking for a home or investment property realestate (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park) & other Seatle neighborhoods, Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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By Courtney Cooper, March 13, 2008 7:58 am

Seattle, down payments are back!

This is how our parents and grandparents bought a house, and now having a down payment is a must when it comes to qualifying for a good loan! But where to find the money? Well, the first thing you should do is talk to a good Seattle lender – find out if you qualify for a house based on your credit and how much you can afford. The lender will also tell you how much of a down payment you will need. This will give you a good goal number. Make sure to consider closing costs which can run anywhere from $4000 to $10000 in some cases depending on your loan. In this market, I have been successful at getting the sellers to pay for the closing costs most of the time. If money is tight, then tell your agent you want the seller to pay closing costs and focus on your down payment amount.

It is amazing how the little things add up! Obviously cut back on travel, credit card interest, etc., but what about these? Look everywhere in your life and you will be surprised at how fast you can save the money…

Here are some ways to trim out money: Over $10,000 in only a year and in most cases!

1. Cut the lattes – better for the environment anyway with all those cups that get used. Go back to the free office coffee or make coffee at home. Even buying a home espresso machine is better than going out every day. In most cases these drinks are well over $3.00 each, but even at $3.00 x 7 = $21/week x 52 = $1092/yr.
2. Cut out the Restaurant eating. It is not as healthy as cooking whole foods anyway. Let’s just say one night out/week at $30 x 52 = $1560/yr A note on this is that I have never seen a tab be that cheap at a restaurant, but for illustration purpose, this money adds up fast!
3. Brown Bag it to work – Wow this is huge – Yes those lunch breaks can be the highlight of the day, but $5 – $10/day adds up! $5 x 5= $25/week x 52 = $1300/yr and that is on the cheap side as we all know.
4. Cut the soda – Bad for you anyway. I lost 16 pounds in a few months simply by dropping soda – Diet Cokes. When you do stop in at a drive thru or anywhere else and order a soda, it adds a huge percentage to the bill. Most places charge well over a dollar for a soda and in many cases closer to two dollars! $1.50 x 7= $10.50 x 52 = $546
5. Meal planning before grocery shopping -
   This is also huge! Plan your meal for the week. Making meals like spaghetti and burritos can save a lot of money through the week and also be great items for taking for lunches at work. Also – don’t shop while you are hungry! $600/yr minimum
6. Use the library – Stop buying books and CDs ($20/mo x 12 = $240/yr) – Libraries these days carry it all! Don’t order any more magazines or newspapers ($20 – $100/yr) and stop renting DVDs ($200 – $400/yr). Many library systems even have online ordering systems where you can order the movie you want much like Netflix. Total savings: at least $500/yr
7. Watch movies at home -
   Those movie theatre tickets have gotten pricey and don’t even get me started on the food! When did we decide that it was okay to let them charge us $5 for a soda???? Why not pop some popcorn and watch a library rental at home? Even if you only go twice a month, those visits can add up! $30/visit x 2 = $60 x 12 = $720
8. Dry Cleaning – Reduce it by wearing things at least twice or wearing no dry cleaned items. It is bad for the environment, expensive, and I can’t figure out why they won’t recycle or reused those darned wire hangers!!!! $20-$30/week $20 x 52 = $1040
9. Beauty – What about hair cuts and nail appointments? Why not skip a hair cut every other time or draw them out by one more week? Doing your own nails could also add tons of savings! Go for lower maintenance hair and nails so that there is no need for root touch ups or nail fills. $600/yr minimum savings
10. Outside Services for home-
    Housekeeping, lawn maintenance or care, window washing, bottled water, etc. can really add up, but cutting them out is big savings. $1000/yr minimum and a lot more in most cases.
11. Be more energy efficient - Switch to florescent bulbs, turn off lights, turn the heat down, and start seeing the benefits of reduced use. $500/yr minimum savings.
12. Cut your wardrobe budget – Most people have too many clothes in their closet already – I know I have some that collect dust! Why not dig out some of those oldies in a closet archeological expedition? Easily $500 in savings a year and probably over $1000 in some cases. $500/yr minimum savings
    
13. Cut out the gym – start a walking campaign and invest in a few free weights – this can save a minimum of $30/mo x 12 = $360
    
14. Wash your own car – Even at twice a month, those car washes add up! They range easily from $10 – $20! $10 x 2 = $20/month x 12 = $240/yr
    

There you go! Over ten thousand dollars in savings with a few changes and tweaks in lifestyle habits. I bet you can think of more! The $10k will be worth it!

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting – I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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By Courtney Cooper, March 8, 2008 11:45 pm

Seattle neighborhood Green Lake used to be a suburb only connected to the city by trolley – its true! Green Lake is a fabulous neighborhood in Seattle, but here is something you might not have known:

The suburb of Green Lake became part of the city and in 1903 the city approved a park development plan from the Olmstead Brothers which included a lovely public park around Green Lake. So far you are bored and wondering where I am going with this because obviously there is a park around Green Lake that we all love and use as often as possible, right?

This is the amazing part: By the time Olmsted decided to design the park around Green Lake, the real estate developments had already been built down to the water’s edge! You know what Olmsted did so that we could have the park we have today?

In 1911 he decided to have Green Lake lowered.

He had the lake lowered and gained 100 acres of dry land for the park that we know today! Can you believe it? Can you imagine if you were a waterfront property owner at the time? What if he hadn’t? Can you imagine Green Lake without the park around it?

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting – I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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By Courtney Cooper, March 4, 2008 8:54 am

I absolutely love Seattle real estate – moving to Seattle is one of the best choices a buyer can make! Although the Seattle real estate market has softened up a bit, the Puget Sound in general has so much going for it to make it an obvious choice for relocation.

Different ways to purchase real estate and live in Seattle Neighborhoods & Seattle Suburbs:

Look for Built Green options out there – both in remodeled existing homes and also new construction.

Condos & Co-ops – Besides downtown, there are also many options through out Seattle neighborhoods and many condo complexes can also be found in surrounding suburbs.

Townhouses – Seattle townhouses are what I consider the current solution to bigger square footage on a smaller footprint – in the sixties and seventies a lot of split level homes were built because they were so economical and offered more square footage for less money. Townhouses are the new split level as far as economy goes, but styling has come a long way in three decades and Seattle townhomes offer stylish living and more square footage than condos in most cases. Check out different townhouse builders in Seattle and look at the finish work they offer. Little details in a townhouse makes a huge difference!

Lofts – Loft living in Seattle is a thing of beauty. Pioneer Square in particular has some of the most amazing lofts – old one hundred year old buildings that have been split up into condo lofts have soaring ceilings, gorgeous wood beams, and giant windows to look out on to the city. In addition, the roof top access can provide some of the best views of the areas. Storage and parking is at a premium, so look for buildings that offer both!

Houseboats – I love houseboats! I think there is nothing better than having a dock right outside your door and the lack of yard work to me is very appealing! Houseboats come in all different sizes and shapes – Houseboats at the end of the dock cost more because they have unobstructed views. Houseboats can be on docks that own the submerged land under them or on leased land. The type of ownership affects the price as well. There are CC&Rs and neighbors are in close proximity.

Houses – Houses come in all shapes and sizes and also in all ages – you can buy an in city Seattle oldie or a sprawling Seattle suburb house – Prices will vary and it is important to make a buyers check list as to what you are looking for!

Seattle has so many great choices and now that sellers are willing to negotiate, there are some great buys out there for the March 2008 Seattle real estate market.

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By Courtney Cooper, March 1, 2008 10:14 am

Seattle real estate has gotten trickier in recent months and I honestly believe that most traditional buyers need to work with a full service REALTOR.  But if you are going to go with a company like Redfin who provides a different business model in return for lower fees in the form of a rebate, please plan on shelling out the extra money and paying Redfin to be your buyer’s agent.

I should clarify right now up front that I am not attacking Redfin. I am all for free enterprise and coming up with a different business model that does suit a small minority of extremely experienced and knowledgeable buyers. These buyers don’t want or need the hand holding and constant diligence that I can offer them before, during, and after a transaction. Fine.

I am not attacking this alternative business model because simply put, they are not my competition. The fact is when I was with a larger regional company I was already the real estate agent renegade because I have always given my own clients rebates in the form of closing costs, etc. alongside my FULL SERVICE. I opened my own brokerage partially so that I could do what I wanted to do for my clients without having to ask my broker for permission. I genuinely want to help my buyers financially to ease the stress of the transaction and improve their quality of life. So – before you call me greedy, please don’t.

The point is that even though I was going to help out my buyers financially, I didn’t decide to discount my service based on this fact by sending them out to call listing agents and making these other hard working agents do my work as a Full Service buyer’s agent. To quote another saying, I just don’t believe in building my business on the backs of others. In my opinion: it is a listing agent’s job to show the listing to a potential unrepresented buyer, but it is a buyer’s agent’s job to show a represented buyer a property. This is a point that can be argued back and forth in both directions to no end, so I will gloss over it for now except for this:

There is just too much potential liability associated with dual agency to not acknowledge that buyers and sellers should be represented separately and with this separate representation comes a clear delineation of duties on each side.

So that’s my opinion on the matter and here is my problem with some of Redfin’s clients:

Although I have seen it stated very plainly in black and white that Redfin absolutely does not encourage this behavior and I applaud them for doing so, every single Redfin buyer I have run into in the last twelve months has lied their pants off to me!!! It seems that even though they discourage misrepresentations to a listing agent, by charging touring fees after the initial free ones are gone, Redfin is still encouraging their budget conscience buyers to act in some really sneaky ways that may be out of character for them normally.

Seriously, I want to sell my listings to you, Mr. Redfin Buyer, but for goodness sakes, just tell me the truth!!! I am not stupid. Please don’t use a fake name, and then when I explain that I ID new buyers for my own safety, side step and break down and tell me the truth. In addition, this couple didn’t even show up when I agreed to open the house up!!! I am not some crazy gate keeper that needs to be lied to. Please don’t call me pretending to be interested in working with me as your buyer’s agent and ask me for all my professional contacts that I have worked so hard for (inspector, appraiser, lender, etc.). Please don’t pretend that you are unrepresented when you are a Redfin buyer because just like you can smell a real estate agent a mile away, I can smell a limited service buyer even more quickly.

I have no problem with you as a limited service buyer. I really don’t! Just tell me the truth.

Be honest that you don’t want to pay the relatively small fees that Redfin charges to show homes after your initial free tours are exhausted. It really isn’t that much money relative to the rebate you can get and it is the right thing to do. Or….hire a full service Seattle REALTOR. Just my two cents.

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By Courtney Cooper, February 16, 2008 10:06 am

On my way to Ocean Shores, WA recently, there were still remains of dirt and debris that had washed over the highway in the big December storms….  That latest blast of weather in December 2007 got me thinking about insurance in Seattle neighborhoods and Seattle suburbs again. Flood insurance, specifically, is what I want to look at and whether or not I should purchase a flood insurance policy for my Seattle, Washington area home.

Flood insurance wasn’t actually very accessible until the late sixties when a national flood insurance program was put into place. With this program came the availability of flood insurance for anyone who needed it and lived in a community that participated in the program. In addition, regulations in the form of floodplain maps were also put into place to provide specific levels of risk for any given area.. Flood coverage is required by your lender if you live in any of these high risk areas, but is not included on the standard home owner’s policy of the majority of real estate in Seattle and its suburbs.

This is a question each homeowner in Seattle and the entire Puget Sound should ask themselves. Do you live on low ground? At the bottom of a hill? Near a waterway? How is your property drainage? These are all factors which increase your risk of water intrusion and each homeowner should take the time to consult with an insurance agent and evaluate their own risk. I live on a hill and have sufficient drainage for my property. I keep my gutters in proper working order and also regularly monitor my weatherproofing plan. I do not have flood insurance. It is important to note that if you do decide to purchase flood insurance for your Seattle property, keep in mind that there is a thirty day waiting period in most cases.