Blog


Mar

06

2017
A Flawless Fix and Flip

A Flawless Fix and Flip

A premier Veristone client executed a successful fix and flip on this Lynnwood, WA property located a short distance north of Seattle. The 1,3790 square foot home has 3 bedrooms, 2 ½ bathrooms, and a number of new features that transformed it from two small units, to a beautiful single family residence. This house now boasts, an updated and upgraded kitchen with gorgeous granite and…

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Feb

06

2017
Positive Market Despite Rising Rates

Positive Market Despite Rising Rates

Even though experts in the market agree that rates will likely increase slightly in 2017, they also agree that this will not have a negative impact on the Northwest real estate market. Lawrence Yun, chief economist for the National Association of Realtors, shared that historically, a rate increase to 4.5% (the expected high point for 2017) would still be a “favorable rate”. “We are getting…

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Dec

26

2016
November Market Update

November Market Update

According to the Northwest Multiple Listing Service (NWMLS), figures for November show a 13.2 percent drop in inventory of single family homes and condominiums. For the 4-county Puget Sound region there is only 1.22 months of supply, with King County having the lowest level at under a month (0.96). There was a 9.4 percent gain in pending sales, a 31.3 percent spike in closed sales,…

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Dec

21

2016
A Winning Property

A Winning Property

Veristone would like to congratulate Sandra Lambrecht! In early 2016, Sandra set-out on a plan to renovate an 85-year-old Queen Anne Tudor-style home. Having been with Sandra at the beginning of this project, we can verify that the property needed more than a little TLC. Sandra boldly embarked on a plan to renovate the structure down to the studs, in many areas, while paying careful…

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Nov

18

2016
Textbook Fix and Flip

Textbook Fix and Flip

Thanks to having strong partners in the real estate business and eye on the market, Retha McCutchen was able to acquire an ideal fix and flip in the Cully neighborhood of Northeast Portland. With the help from her partners in the real estate business, knowing the neighborhood and aligning with quick financing from Veristone, Retha was able to jump on this opportunity. It was worth…

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Nov

05

2016
Advice from my Lender?

Advice from my Lender?

Earning a living buying and selling real estate is very rewarding… but can also be risky business. This is a key reason why many people opt not to pursue real estate investing. It’s also a key reason why those that do, often seek out a key partner like Veristone. If you can leverage the learnings of those that have gone before you and follow in…

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Sep

25

2016
A Glossary of Hard Money Lending Terms

A Glossary of Hard Money Lending Terms

Getting involved in real estate investing can present a whole new vocabulary. We’ve compiled the following list of terms which you are likely to hear if you venture into hard money real estate investing. The Terms: After Rehab Value (ARV): The amount that the investment property is expected to be worth after all of the planned renovations are completed. Appraisal: A professional assessment of how…

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Sep

06

2016
Builders can find spec loans with hard money lenders

Builders can find spec loans with hard money lenders

Still wary of past shaky lending practices and encumbered with regulations (like the 2010 Dodd-Frank Act), traditional lenders are not willing or able to provide speculative construction loans. Unlike the banks, hard money lenders like Veristone are eager to fund such deals. With loan periods that are much shorter than traditional banks, hard money lenders like Veristone are able to adjust to market conditions and…

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Aug

07

2016
Appreciation in the Northwest – Setting a Red Hot Pace

Appreciation in the Northwest – Setting a Red Hot Pace

In spite of easing a bit from prior months, home prices are continuing to experience positive appreciation. The S&P Case-Shiller 20-City Composite index for May (as reported at the end of July) rose 5.2 percent year over year. This accounts for slight slowdown from April’s 5.4 percent increase. The Case-Schiller index tracks changes in the value of residential real estate nationally as well as in…

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Jul

23

2016
Smart and Fast equals Success

Smart and Fast equals Success

Every deal is about knowing the numbers! And it’s been said that the most important number is the After-Repair-Value (ARV). Knowing this number before you acquire a property can be the difference between making a great deal versus making a deal you wish you could forget. The majority of discounted properties are usually junk properties, vacant properties and/or fixer-uppers. They’re often in need of many…

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