Can You Switch Your Loan Type While House Hunting? Yep—Here’s How One Buyer Did It

We had an interesting situation come up recently on one of my condo listings in Everett, and it turned into a great learning opportunity.

A buyer came to view the condo with an FHA preapproval—but here’s the catch: the condo isn’t FHA-approved (like many condos in our area). I figured that would be the end of the road… but nope. That’s when Sage, the managing broker I work with, had a creative solution.

The lender introduced the HomeReady mortgage by Fannie Mae—a conventional loan that only requires 3% down and is available to many first-time homebuyers. The buyer just needs to take a simple online course to qualify.

Yes—You Can Switch Loan Programs Mid-Search

Most buyers don’t realize you’re not locked into your initial loan approval. If you’re working with a flexible lender, you may be able to pivot to a different loan type that works better for the property you’re trying to buy.

In this case, switching from FHA to a conventional loan option made it possible for this buyer to stay in the game.

💡 Bonus: Down Payment Assistance Might Also Be Available

We also shared these additional Washington State programs with the buyer:

• HomeReady Mortgage Info

• WSHFC Down Payment Assistance Programs

• Home Advantage

• House Key Opportunity Program

Many of these programs offer low-interest deferred loans to help cover down payments—some up to $15,000.

Takeaway for Buyers:

If you’re out home shopping and hit a snag with financing, don’t give up—there may be options you haven’t considered yet. The right lender can make a big difference and having a team that understands how to navigate these programs can open doors (literally).

Want to explore your options? I’m happy to connect you with a lender and help you understand what programs might be a fit based on your goals.

Multiple offers are creeping back into a lot of markets, and if you are buying or selling, you have to understand how the competition actually plays out week to week. There is this pattern that happens in almost every city I work in, and someone once called it the Creampuff Principle. Honestly, it is the perfect name, because it explains exactly why certain homes fly and others just… sit there.

Here is how a typical week goes.

Most new listings pop up between Wednesday and Friday morning.
Showings, pre-inspections, and all the buyer activity hit hard from Thursday through Monday.
Offers usually get reviewed between Monday and Wednesday.
And then the whole cycle starts over the next week.

But here is the part most people miss. Not every home from the week before ends up pending. And it is not because the market is slow. It is because the Creampuff Principle kicked in.

So what is the Creampuff Principle?

Picture five similar three-bedroom listings that all hit the market at the same time. Same size, same general price range, same neighborhood. But one of them is clearly the star of the week. That home is the creampuff.

It is the one that is truly move-in ready. Great curb appeal. Clean and updated. Fresh paint. New flooring. Maybe the backyard looks dialed in. Maybe the sellers did a pre-inspection and already fixed the little things that come up. And the listing agent has all the details laid out clearly for buyers. It just feels easy and reassuring.

And because of that, everyone goes for that one first. The creampuff gets the packed weekend, the multiple offers, and the strong buyer pool.

The other four homes? They do not get the same level of attention. They will still sell, but usually after the buyers who lost out on the creampuff circle back and start looking at Plan B and Plan C.

How to turn your home into the creampuff buyers chase

Pre-inspection

A pre-inspection is honestly one of the best ways to set your home up for a strong sale. It lets you fix the small issues before they ever become negotiation headaches. And when you include the report and the receipts for the work you already handled, buyers immediately feel more confident.

Small updates that actually matter

You do not need a magazine kitchen to get creampuff status. Honestly, it is the basics that make the biggest difference.

Make sure the cabinets are in good shape.
Floors clean and not damaged.
Fresh paint always goes a long way.
Windows working correctly.
Clean, matching hardware.
Light fixtures that are not from 1998.

It is less about being fully remodeled and more about feeling well taken care of.

When your home looks move-in ready, is clean, updated in the right ways, and comes with upfront information, buyers are going to pounce. That is how you become the creampuff of the week. And that is where the strongest offers come from.

When you buy your next home, I highly recommend getting a general inspection. Even new homes can have issues. A general inspection will give you an overview of any property deficiencies, allowing you to decide your next steps: create a “to-do” list for after you move in, negotiate repairs or financial concessions with the seller, or walk away if necessary.

But did you know there are several other specific inspections you might need? These specialized inspections are recommended when a general inspector identifies a potential issue beyond their expertise, when the property has unique conditions, or when you need a deeper understanding of a problem. Here are 10 types of inspection professionals to keep in mind:

1. Pest Inspection

• Details: If a general inspector spots signs of infestation, a pest specialist can assess the extent of the issue and suggest remediation options.

2. Septic Inspection

• Details: Often required before property transfers, this involves checking the septic system’s components and possibly pumping it.

3. Well Inspection

• Details: For properties with a well, this inspection checks functionality, flow rate, and bacteria levels, and may be required before ownership transfer.

4. Sewer Scope

• Details: This inspection checks for issues in the sewer line connecting the house to the main sewer, identifying problems like broken lines or root intrusions.

5. Roof Inspection

• Details: Conducted by a roofing company, this inspection looks for leaks and assesses the lifespan of roofing materials.

6. Landscaping or Drainage Inspection

• Details: These professionals address standing water issues that can affect foundations and basements, providing solutions for proper water drainage.

7. Geotechnical Inspection

• Details: For properties on slopes or in earthquake or flood-prone areas, this inspection assesses soil stability and slope safety.

8. Structural Engineer Inspection

• Details: Signs of foundation issues like cracks or misaligned doors/windows warrant a structural engineer’s assessment to determine the extent of the problem.

9. Toxic Substances Inspection

• Details: This inspection identifies and provides mitigation plans for toxic substances like lead paint, asbestos, mold, and radon.

10. Arborist Inspection

• Details: An arborist assesses the health of trees on the property, identifying any that are diseased or distressed and recommending care or removal.

Doing your due diligence as a buyer is critical for making an informed decision. If you need any professional resources or further information, I’m happy to help!

Trees are fantastic for communities. They cool our streets and buildings, manage stormwater, absorb carbon dioxide while producing oxygen, provide a calming environment, and offer homes for various animals. However, large trees can also present challenges in neighborhoods. Here’s what you need to know about tree ownership and management.

Tree Location

• On Your Property: If a tree is entirely on your property, it’s your job to keep it healthy. This means calling an arborist if it shows signs of disease or gets damaged by a storm.
• On the Border: If a tree straddles the border between two properties, both owners share the responsibility for its upkeep.

Tree Encroachment

• Branches and Roots Crossing Property Lines: If your tree’s branches or roots extend into your neighbor’s yard, they can trim them, but only up to the property line. They must avoid damaging the tree. This can be tricky if the tree is close to the line. For instance, if a neighbor wants to install a pool near the property line, they could damage the tree’s root system, potentially killing it. Similarly, if your tree’s roots damage your neighbor’s septic tank, you could be facing a problem. Consulting a tree expert before planting near property lines is a good idea.

Leaves

• Leaf Cleanup: Even if you don’t have any trees, you might still need to clean up leaves from your yard in the fall due to neighboring trees. Unfortunately, you can’t claim your neighbor’s trees as nuisances just because of falling leaves.

Tree Removal

• Increasing Tree Canopy: Many cities are working to increase their tree canopy, which means removing trees might become more difficult. However, if a tree is diseased or dangerous, it’s essential to remove it. Check with your local municipality for regulations on tree removal.

Hiring Tree Professionals

• Need an Arborist? If you need tree work done, it’s best to hire a professional. Don’t rely on a friend with a chainsaw. Look for licensed, bonded, and insured professionals to ensure the job is done safely and correctly.

Preventative Tree Maintenance

• Insurance Concerns: Insurance companies are increasingly concerned about mitigating risks, which includes looking at trees with overhanging branches. Now is a great time to perform preventative maintenance on your trees to avoid potential problems.

Keeping your trees healthy and well-maintained is crucial for your property and community. If you need recommendations for tree professionals, I’m here to help!

I recently attended a class that covered all the exciting developments presented at the International Builder Show in Las Vegas, as well as the Kitchen & Bath Show. Here are some key takeaways that will benefit both buyers and sellers in today’s market.

Highlights and Takeaways:

Preparing Homes for Sale: Many homeowners are preparing to sell and might be considering updates to maximize their home’s value. Here are some of the latest trends that can help make a home more appealing:

Countertops:

• Thinscape by Wilsonart: This new line of countertops mimics the look of quartz but is more affordable and easier to install. It’s an excellent choice for quick home rehabs or prepping a house for sale.

Luxury Vinyl Products:

• Cabinets and Flooring: Modern luxury vinyl products are virtually indistinguishable from wood, offering a stylish and cost-effective alternative. These products are now more affordable as prices have stabilized, making them a great option for both sellers and buyers looking for quality without the high cost.

Electric Fireplaces:

• Steam Fireplaces: Easy-to-install electric fireplaces are becoming popular. They add aesthetic value without the need for extensive demolition or gas line installation. Steam fireplaces, in particular, are a beautiful and innovative option worth exploring.

Porcelain Tiles:

• Durability and Style: New porcelain tiles are durable, affordable, and visually appealing. They don’t sunburn and can withstand heavy use, making them a smart choice for any home.

Benefits for Buyers and Sellers:

For Sellers:

• Enhanced Appeal: Updating a home with these modern, modular products can dramatically increase its market appeal. Buyers are often looking for move-in ready homes with contemporary features.
• Cost-Effective Upgrades: These trends offer cost-effective solutions that don’t compromise on quality, allowing sellers to invest in their homes without breaking the bank.

For Buyers:

• Seeing Potential: In today’s market, inventory can be limited. Buyers might need to consider homes that aren’t perfect but have potential. Understanding these trends can help buyers see the possibilities for quick, affordable upgrades.
• Informed Decisions: Knowing about these new products and trends allows buyers to make informed decisions and envision how they can personalize a home to fit their needs and preferences.

Knowledge is Power:

As a real estate professional, staying updated on the latest home trends is crucial. It enables you to provide valuable advice to both sellers and buyers, enhancing their real estate experience. Visiting showrooms, exploring new products, and understanding current trends can significantly improve your ability to serve your clients.

Whether you’re preparing a home for sale or helping buyers see the potential in a new purchase, staying informed about the latest trends in home interiors and exteriors can make a substantial difference. So, take the time to explore and learn about what’s new in the market. Your clients will appreciate your expertise and the added value you bring to their real estate journey.

I’m Brandice Raybourn, a real estate agent who transitioned from a career in healthcare nearly 3 years ago—a role where meticulous care and organization were part of my daily routine. My journey has led me here, where I now specialize in assisting seniors with the downsizing process in Snohomish County. My goal? To help you navigate this transition smoothly and to find a home that fits your current lifestyle and needs.

Understanding the Why

Downsizing can be a liberating step for many seniors. It’s not just about moving to a smaller space; it’s about simplifying life, reducing daily chores, and, in many cases, freeing up finances. Whether you’re looking to move into a senior-friendly community or simply wish to find a home that’s easier to manage, downsizing has numerous benefits.

However, it can also be an emotional journey. Letting go of a home filled with memories isn’t easy, nor is the process of deciding what to keep and what to part with. Having navigated through many life transitions myself, I understand the delicate balance between moving forward and honoring the past.

Getting Started with Downsizing

Step 1: Assess Your Needs Consider what you want in your next home. Accessibility, location, maintenance, and community should be top of mind. Think about your daily routine and what would make it easier and more enjoyable.

Step 2: Declutter and Organize Start sorting through your belongings well in advance. Create categories: keep, donate, sell, and discard. This step often takes longer than expected, so give yourself plenty of time and space to make these decisions.

Step 3: Seek Emotional Support Discuss your plans with family and friends. They can offer both emotional support and practical help. If you’re finding it particularly tough, professional organizers who specialize in downsizing can be invaluable.

Choosing the Right Home

Finding the right home in Snohomish County means considering several factors. Accessibility features such as no-step entryways, single-floor living, and low maintenance options should be on your checklist. Additionally, think about proximity to healthcare facilities, shopping, public transportation, and social activities.

In our community, there are numerous housing options tailored to seniors’ needs, from vibrant independent living communities to peaceful suburban homes. As a real estate agent with a focus on downsizing, I can guide you through these options to find the perfect fit.

Resources and Support Available

You’re not alone in this journey. Snohomish County offers a wealth of resources to assist seniors with downsizing, including moving services that specialize in senior transitions, estate sale companies for belongings you choose to sell, and local senior centers for emotional and social support.

As your real estate agent, I’m here to help you every step of the way. From preparing your current home for sale to finding your new perfect place, consider me your guide and advocate.

Conclusion

Downsizing is not just about moving to a smaller space; it’s about creating a lifestyle that brings joy and ease into your everyday life. It’s about starting a new chapter with freedom and possibilities.

If you’re considering downsizing or have any questions about the process, please don’t hesitate to reach out. Together, we can make this transition not just smooth, but exciting. Stay tuned for more posts, where I’ll dive deeper into each step of the downsizing process, share tips and advice, and highlight the best of senior living in Snohomish County.

Home Insurance Checkup: A Must-Do for Every Homeowner

Why You Need an Insurance Checkup

Checking your home insurance might not be thrilling, but it’s crucial. Most of us skip reading our insurance policy thoroughly. However, not knowing your coverage details can lead to unexpected surprises if disaster strikes. Over time, insurance policies can change, often not to our benefit.

Steps to Take for Peace of Mind

First off, grab the latest copy of your insurance policy. Dive into it, jot down notes, and prep questions for your insurance agent. This proactive step is key to avoiding future surprises.

Essential Questions to Discuss with Your Agent

Now, let’s focus on some critical questions to bring up with your agent. These might seem straightforward after you’ve reviewed your policy, but discussing them can clarify your coverage:

1. Flood Coverage: “Am I covered for floods, even if I’m not in a flood zone?”
2. Landslide Protection: “Does my policy cover landslides, and does the cause matter?”
3. Roof Leaks: “How does my policy treat gradual versus sudden roof leaks?”
4. Accidents: “If a car crashes into my house, who covers the damages?”
5. Pest Damage: “Are bug infestations and the resulting damages covered?”
6. Pet Incidents: “What if a dog bites someone on my property?”
7. Playtime Mishaps: “Is an injury from my trampoline covered?”
8. Theft: “Does my policy cover stolen jewelry and cash?”
9. Fire: “Are all fire-related damages covered, no matter the cause?”
10. Earthquake Safety: “Is earthquake damage included?”
11. Acts of Terrorism: “Am I protected against terrorism damage?”

Enhancing Your Coverage

Also, consider whether you need additional coverage for high-value items like jewelry or art. A yearly video inventory of your possessions can be a lifesaver.

Conclusion: Stay Prepared, Stay Protected

Being well-prepared means fewer surprises if disaster hits. Understanding your home insurance policy is not just about ticking a box; it’s about ensuring you and your home are fully protected. Now’s the time to chat with your agent to ensure your coverage meets your needs.

Keep Your Home and Belongings Safe

Knowing what your insurance covers is more important than ever. If you’re uncertain about your coverage or have added valuable items to your home, it’s time for a review. Staying informed keeps you protected. Let’s make sure your insurance works as hard as you do.

Today, I want to share some key insights into the housing inventory crisis, a topic I recently explored in a video. Click to watch my video

We’ll dive into the three main sources of housing inventory and what this means for the market in 2024.

Understanding the Three Sources of Housing Inventory: Did you know that our housing supply primarily comes from just three sources? These are new construction, resale, and foreclosures. Unfortunately, for over a decade, new construction hasn’t kept up with our growing population, leading to a significant housing deficit.

• New Construction Lagging Behind: The rate of new construction has been insufficient to meet the rising demand due to population growth. This shortfall in new homes has been a key contributor to the overall scarcity of available housing.
• Low Foreclosure Rates: Currently, the number of foreclosures is significantly low, especially compared to the levels seen during the pandemic and the financial crisis years of 2008-2012. This decrease means that foreclosures aren’t contributing much to the overall housing inventory.
• Resale as the Primary Source: With new construction lagging and foreclosures at a low, most of our housing inventory comes from resale. However, many homeowners are reluctant to sell, largely due to holding onto mortgages with favorable interest rates. A recent Zillow survey highlighted that 80% of mortgage holders enjoy rates below 5%.

The 2024 Outlook: I anticipate a change in the housing inventory by 2024, primarily driven by the reducing ‘loss gap.’ This term refers to the cost difference between current low-rate mortgages and potentially higher rates if homeowners were to sell and buy anew.

In strong markets, the opportunity to gain more equity when selling can offset this loss gap. As mortgage rates begin to fall, I foresee an upcoming surge in both listings and sales. This shift is good news for both buyers and sellers in Snohomish County.

Conclusion: If you’re planning to buy or sell in Snohomish County, the upcoming year looks promising. I’m here to assist you in navigating these changes, whether you’re in the market to find your dream home or looking to sell your property. For more detailed insights into this topic, I invite you to watch my recent video, where I delve deeper into these trends and their implications for our local real estate market.