Washington Home Solutions

Rent to Own Home Update for Week of Jan 10, 2011

Mike Sumsky — Sat, 15 Jan 2011 05:13:55 +0000

Share the Wealth:

Three minute Rent to Own update for week of December 20, 2010

Mike Sumsky — Wed, 22 Dec 2010 20:20:22 +0000

Share the Wealth:

Gorgeous 3 bedroom Belfair rambler right across from Trails End Lake!

Mike Sumsky — Wed, 22 Dec 2010 04:52:14 +0000

This is a great home. It’s only two years old and sits right across the street from Trails End Lake. If you like boating, fishing or just relaxing on the water, this is the place for you. Also is on 1/2 acre and backs up to city property so you’ll never have to worry about neighbors moving in behind you. Check it out!

Share the Wealth:

Rent to Own – Frequently Asked Questions

Mike Sumsky — Fri, 02 Apr 2010 18:15:06 +0000

What is a “lease option”?

Also known as a “lease to own”, “rent to own”, or “lease purchase option”, a lease option is an arrangement where you rent a house and pay upfront ‘option consideration’ to have the exclusive right to purchase it at a later date. A lease option allows you to ‘try before you buy’, and gives you time to build a down payment, improve your credit, and ease into home ownership

How do I qualify?

In order to qualify for one of our houses, you will need to be able to afford a reasonable down payment, have the ability to make monthly payments on time, and have a willingness to improve your credit situation so you can ultimately buy the home. That’s about it. We want to set you up for success in a home that is truly affordable, so we will want to see that your gross monthly income is at least three times the monthly payment amount.

What if I have bad credit?

Don’t let your prior credit dings keep you from moving into the home of your dreams now. If you have bad credit, all that we ask is that you have a willingness to improve your credit score so you can qualify for a loan at the end of the lease period. We have several resources to help you achieve this goal.

What if I don’t have the required option consideration (down payment)?

If you don’t have the entire option consideration saved up, you have a few options: Upfront option consideration can be borrowed, so find out if friends or family members are willing to help you out. In certain situations, we may be willing to split your option consideration into two or three separate payments. We also accept items in trade if you are a little short so if you have an extra vehicle, boat, ATV or something else of value, let us know. Finally, we may be willing to trade work for equity if you’re interested in doing some fix-up prior to move in.

How long do I have to buy the house?

Our lease option timeframes are generally for 12 – 36 months. We’ll want to match the house to your credit situation so you have plenty of time to get financing.

What if the property value goes down while I’m leasing the house?

No need to worry about declining real estate prices because you’re covered by the Washington Home Solutions “Never Lose Guarantee”. When you’re ready to purchase, if the house doesn’t appraise for as much, or more than the purchase price that is agreed upon when you begin your lease, we’ll either extend your lease for free, and you get to keep the same low monthly payment, or we’ll sell it to you at the new appraised value.

What happens if I decide not to buy?

If you decide not to buy the house, you are released from all obligations without additional cost. Your upfront option consideration is forfeited.

Will you check my credit?

We accept all kinds of credit situations, from good to ugly. We would like to see a copy of your credit report before you move in, but mainly because we want to see what items that you’ll need to work on during your lease. There may derogatory items on your credit that shouldn’t be there and knowing this in advance gives plenty of time to clear them up. You can even pull a report yourself from one of the many credit reporting websites, and this will not show up as an inquiry on your credit.

Will you give me a loan if I can’t qualify through the bank?

If you can build up your down payment to 8% or more, we will offer guaranteed owner financing.

I found a house I like on this website, how do I apply?

You can download an application, fill it out and send to us through either fax or e-mail. Our houses sell fast, so in order to have a faster response, you can call our office at 360-874-1560 and let us know that you are applying for one of our homes.
Once we receive your application, it usually takes us no more than 24-48 hours to process.

What do I do if I want a lease option, but I don’t see a house on the website that suits me?

If you don’t see what you’re looking for, be sure to fill our our buyer interest form so we can notify you when we get new properties. If you have saved a sufficient down payment, there is a good chance that we can find the perfect property for you.

Share the Wealth:

Free iPad When You Lease to Own this Bremerton Home

Mike Sumsky — Wed, 31 Mar 2010 14:35:04 +0000

So what the heck does a free iPad and one of our lease to own homes have in common? I’ll let you know in just a second, but it has to do with our 3 bedroom 2.5 bath tri-level home in Bremerton that we’re offering for lease to own.

First of all, we’re dropping the upfront option payment down to $4000 (which applies towards the purchase), so we’ve made it a little easier to afford, AND we’re going to have a really nice giveaway for those who can act fast and reserve this home on our lease option program.

Those of you who know me know that I’m a big fan of Apple products, and I’ve been drooling over their new iPad that is coming out this Saturday. I think it’s such a cool thing that I’m going to be giving one away to a lucky individual or family who signs a lease to own agreement on this home during the next 15 days. (just in case you’ve been living in a hole for the last several months, go to http://www.apple.com/ipad to see exactly what this thing is)

Sure, it’s a shameless bribe, but I also need an excuse to head to the Apple store to put my hands on it. Oh, and if you want more information on the house, including the video tour, just go to the link below.

http://www.wahomesolutions.com/3946Fischer

The offer will end on April 14th, so if you’re interested in the home, let me know right away. Just in case you’re wondering, you won’t have to MOVE into the home by that date, just sign paperwork and put down deposit.

Talk to you soon,

Mike Sumsky

Share the Wealth:

New Report Picks Bremerton and Tacoma as Best Markets for 2010

Mike Sumsky — Mon, 29 Mar 2010 02:04:41 +0000

With all the speculation of where the real estate market is going to head in the near term, it appears that the folks at Moody’s Economy.com have projected that Bremerton and Tacoma will be among the top cities in the country for some modest appreciation over the next year. Bremerton, which saw an 18% dip in prices since the peak is projected to show a 4.2% increase in home values in the next year, thanks to a relatively strong employment outlook. Bremerton ranks 5th in the country in terms of market outlook according to Moody’s report.

Tacoma took the 8th ranking in the country with a projected 3.9% appreciation through 2011. The downtown area has gone through a revival over the past few decades, and although prices took a big hit when the bubble burst, values are starting to stabilize.

You can see the full report at http://realestate.yahoo.com/promo/where-homes-prices-are-rising

I remain ‘cautiously optimistic’ about a market turnaround but I don’t think we’re out of the woods yet. Foreclosures are still a problem, the tax credit deadline is approaching and the Fed plans to stop buying mortgage backed securities later this week, which will likely mean higher interest rates and some more uncertainty.

Nevertheless, I’m still a buyer in this market but the key is to buy right. If you’re buying a house, make sure you get a great deal, and if you’re moving into a lease to own home, find one where you’ll be safe if the market goes down. All of Washington Home Solutions lease to own homes are protected by the Never Lose Guarantee which insulates you from a potential market drop while giving you 100% of any appreciation. Click the link to learn more about this and our Lease to Own Program.

What’s your opinion of where the real estate market is heading? Feel free to comment below.

Share the Wealth:

The only truly FREE method to pull your credit report – no strings attached

Mike Sumsky — Wed, 17 Mar 2010 06:19:10 +0000

Not sure where you stand with your credit? You may have seen tv or radio ads advertising a website where you can pull a ‘free’ credit report. (you know, the one with the catchy jingle and the guy playing the guitar) What they don’t tell you is that in order to get a free report, you need to sign up for a trial credit monitoring service which could ding you about $15/mo if you don’t cancel during before the end of the free trial.

If you want a true FREE credit report without having to sign up for a credit monitoring service, you can go to AnnualCreditReport.com. It’s the ONLY authorized source of a free credit report that is guaranteed by the Fair Credit Reporting Act. You’re entitled to a free report from each of the three credit bureaus – Experian, Equifax, and TransUnion once every 12 months.

If you’re interested in buying a home on a lease option, it’s important to know what’s on your credit, so pull your report before you go home shopping so you can see what you need to clean up in order to get qualified for a mortgage down the road. Doing a self-inquiry on your credit will not negatively affect your credit score.

You can request your free report online, by phone or by mail. Visit AnnualCreditReport.com, call 1-877-322-8228, or fill out the Annual Credit Report Request form and mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281

Share the Wealth:

Free rent for Washington Home Solutions lease option tenant-buyers

Mike Sumsky — Fri, 12 Mar 2010 05:22:27 +0000

How would you like to skip a house payment next month? Well, if you move into one of our lease to own homes, you automatically qualify for free rent simply by referring other buyers into our lease to own program. We pride ourselves on having one of the best lease to own programs in the Puget Sound area, so if you refer a friend, family member, co-worker or anyone else to us and they move into one of our homes, we’ll give you your next month’s rent for free!

There’s no limit to the amount of free rent that you can get, and we can give you tips on how to locate new tenant-buyers for our lease to own program. Just think about what you can do with the extra money. Save it, pay down debt, or take a much needed vacation, it’s your choice.

For more information, visit our website at http://www.wahomesolutions.com.

Share the Wealth:

Is it the right time to buy now? Good article from CNN Money.com

Mike Sumsky — Thu, 11 Mar 2010 05:01:30 +0000

With the tax credit set to expire April 30 and interest rates low, is it a good time to buy a home? Here’s a good viewpoint, from CNN’s Money.com: Nab a real estate deal – while you still can

http://money.cnn.com/2010/03/02/real_estate/real_estate_deals.moneymag/index.htm

Share the Wealth:

Lease To Own – Large Home in Bremerton on 1/2 Acre!

Mike Sumsky — Mon, 08 Mar 2010 22:31:21 +0000

Here’s a great opportunity to ‘lease to own’ this large, 2400 sq. ft. home in Bremerton. It sits on 1/2 acre, has five total rooms, two baths, spacious living and family rooms with cathedral ceilings, and to top it off, has been completely remodeled with refinished hardwood floors, new paint, remodeled bathrooms and a brand new kitchen with granite counters and new appliances.

If you need time to qualify for a mortgage but don’t want to waste your money on rent, this is a great property. Through our lease to own program, you’ll be able to lock in the price of this home today and give you the time to fix any credit dings you might have.

The video tour and more details are below:

12958 NW Holly Rd.

Bremerton, WA 98312

3 bedrooms (+2 bonus rooms)

2 baths

2400 Sq. Ft.

20,908 sq. ft. lot size (about 1/2 acre)

Built 1966

To qualify, you need:

$5000 upfront option fee (100% applies towards your purchase)

$1395 monthly payments ($200 of each payment applies towards purchase)

$279,000 purchase price in 12 months or extend for a 2nd year

If you have more money to put down, you can lower your monthly payment.

Share the Wealth: