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Welcome to Advanced Realty Group

We are happy to provide all the information you need to buy or sell real estate in Pasco, Kennewick, Richland, West Richland, Burbank and surrounding areas. As premier real estate Broker in Tri-Cities, we look forward to serving you and will be happy to help at any time.

Serving the Tri-Cities Area for 21 years with Residential Home Purchases & Sales, New Construction, Multi-Family Homes, Farms and some Commercial too. My Real Estate Designations: (CRS) Certified Residential Specialist (ABR) Accredited Buyer Representative (SRES) Senior Real Estate Specialist (e-Pro) Internet Pro Designation and the Designated Broker you can trust to help you with your Real Estate Needs. When you want someone with experience, knowledge, outstanding negotiation skills, marketing & up to date with the current issues in the ever changing industry, you can put your trust in Mary Lynn Heinen, Advanced Realty Group. Search homes at your leisure at www.TriCityHomes.org

Serving Tri-Cities Home Owners & Investors Since 1993!

To View Homes - Click on City: Kennewick, Pasco, West Pasco, Richland, West Richland, Burbank, Eltopia, Finley, Benton City, Mesa, Connell

Learn More About Me

FOR BUYERS

Whether you are a first time homebuyer or a seasoned veteran we have all the resources you need to buy real estate in Pasco, Kennewick, Richland, West Richland, and Burbank.

FOR SELLERS

Find out how much your home is worth and how we can help you get top dollar for your home.

MaryLynn's Blog

Buying a Home: Do You Know the Lingo? [INFOGRAPHIC]

Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | Simplifying The Market

Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
  • To point you in the right direction, here’s a list of some of the most common language you’ll hear when buying a home.
  • The best way to ensure your home-buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher.’

Busting the Myth About a Housing Affordability Crisis

Busting the Myth About a Housing Affordability Crisis | Simplifying The Market

It seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a purchaser’s buying power.

Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. Another major piece of the affordability equation is a buyer’s income. The median family income has risen by 3.5% over the last year.

Let’s look at three different reports issued recently that reveal how homes are very affordable in comparison to historic numbers, and how they have become even more affordable over the past several months.

1. National Association of Realtors’ (NAR) Housing Affordability Index:

Here is a graph showing the index going all the way back to 1990. The higher the column, the more affordable homes are:Busting the Myth About a Housing Affordability Crisis | Simplifying The MarketWe can see that homes are less affordable today (the green bar) than they were during the housing crash (the red bars). This was when distressed properties like foreclosures and short sales saturated the market and sold for massive discounts. However, homes are more affordable today than at any time from 1990 to 2008.

NAR’s report on the index also shows that the percentage of a family’s income needed for a mortgage payment (16.5%) is dramatically lower than last year and is well below the historic norm of 21.2%.Busting the Myth About a Housing Affordability Crisis | Simplifying The Market

2. Black Knight’s Mortgage Monitor:

This report reveals that as a result of falling interest rates and slowing home price appreciation, affordability is the best it has been in 18 months. Black Knight Data & Analytics President Ben Graboske explains:

“For much of the past year and a half, affordability pressures have put a damper on home price appreciation. Indeed, the rate of annual home price growth has declined for 15 consecutive months. More recently, declining 30-year fixed interest rates have helped to ease some of those pressures, improving the affordability outlook considerably…And despite the average home price rising by more than $12K since November, today’s lower fixed interest rates have worked out to a $108 lower monthly payment…Lower rates have also increased the buying power for prospective homebuyers looking to purchase the average-priced home by the equivalent of 15%.”

3. First American’s Real House Price Index:

While affordability has increased recently, Mark Fleming, First American’s Chief Economist explains:

“If the 30-year, fixed-rate mortgage declines just a fraction more, consumer house-buying power would reach its highest level in almost 20 years.”

Fleming goes on to say that the gains in affordability are about mortgage rates and the increase in family incomes:

“Average nominal household incomes are nearly 57 percent higher today than in January 2000. Record income levels combined with mortgage rates near historic lows mean consumer house-buying power is more than 150 percent greater today than it was in January 2000.”

Bottom Line

If you’ve put off the purchase of a first home or a move-up home because of affordability concerns, you should take another look at your ability to purchase in today’s market. You may be pleasantly surprised!

The Benefits of Growing Equity in Your Home

The Benefits of Growing Equity in Your Home | Simplifying The Market

Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for homeowners.

1. Move-Up Opportunity

With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic,

“In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.”

This increase in profit means if homeowners decide to sell, they’ll be able to put their equity to work for them as they make plans to move up into their next home.

2. Gain in Seller’s Profit

ATTOM Data Solutions recently released their Q2 2019 Home Sales Report, indicating the seller’s profit jumped at one of the fastest rates since 2015. They said:

“A look at the national numbers showed that U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since the original purchase of $67,500…the average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of the original purchase price.”

Looking at the amount paid when they bought their homes, and then the amount they received after selling, we can see that some homeowners were able to walk away with a significant gain.

3. Out of a Negative Equity Situation

Negative equity occurs when there is a decline in home value, an increase in mortgage debt, or both. Many families experienced these challenges over the last decade. According to the same report from CoreLogic,

“U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $485.7 billion since the first quarter 2018, an increase of 5.6%, year over year.

In the first quarter of 2019, the total number of mortgaged residential properties with negative equity decreased…to 2.2 million homes, or 4.1% of all mortgaged properties.”

The good news is, many families have moved beyond a negative equity situation, and no longer owe more on their mortgage than the value of their home.

Bottom Line

If you’re a current homeowner, you may have more equity than you realize. Your equity can open the door to future opportunities, such as moving up to your dream home. Let’s get together to discuss your options and start to put your equity to work for you.

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Blog

Winter Selling Your Home in Pasco, Kennewick or Richland WA

People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year round weather or perhaps move across the st... Read more
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Testimonials

”We couldn’t have picked a more sensitive and committed Realtor in the Tri-Cities. Mary Lynn dedicated an entire afternoon to show us the area, before we even decided to relocate from the Midwest. Her energetic personality and hard work minimized the stress of house hunting during a major transition for our entire family” Makyla Iverson, owner of Canvas Diva Designs
We can’t thank you enough for all that you did for us. Selling our house, buying our lot, and working with Rick & Jack and for working with Ivy Glades Design Review Committee. We would have never gotten through this process without you. Many thanks for all the many ways you make life nicer. Ellen & Glenn Wright
Mary Lynn moved the sale of our home very swiftly and professionally and removed the stress that goes along with the sale of a home. As in football terms, she took the ball and ran with it! Gayle and I feel that Mary Lynn did such a great job that we will use her as our agent to get us settled into our new town house. A big thank you to you Mary Lynn, as we know that we made the right decision in picking you for our real estate agent. P.S. Anyone planning a sale of their home or property, we highly recommend contacting Mary Lynn Heinen, and attaining her for as their sales agent. Raymond & Gayle Kohne
Mary Lynn Heinen: was recommended by a friend, Heidi, who she helped find an awesome home when relocating to the Tricities and later helped her sell the house when a new job took her away from the Tricities. Both of these times were extra ordinarily stressful times for Heidi and MaryLynn work hard to make the deals happen efficiently and professionally. She was not just interested in the sales, but was truly concerned for her client circumstances. When my husband and I began looking for a new home we met with MaryLynn and she immediately wanted to learn what we were looking for and our expectations of her in helping us find our home. She showed us houses that met our description and was patient with us. We took an unusually long time to find what we wanted and she never pressured us nor gave up on us as clients. Once we found what we wanted she walked us through the process and has followed up with us to be sure we are satisfied. The stand out for us was that she honored our request to not be called "all the time", listened to us, cared about satisfying her clients not just making the sale. Truly a professional who knows her business and appreciates her clients. We would highly recommend her." Deborah Glatt
MaryLynn was reserached and recommended to me by another realtor I was working with in Western Washington. MaryLynn worked closely with me to find and purchase the right home for me in Richland, WA. She listened to my needs, assertively sought showings during my "time crunch" before moving, knew quality mortgage lenders, and kept a delightful sense of humor and perspective on the process. Five years later when I needed to sell, I did not hesitate to reconnect and solicit her help in marketing, staging, and selling my property. She knew the local and regional market dynamics, best strategies for showing the home, and hosted an open house which was attended by over a dozen prospective buyers in one day. MaryLynn suggested quality repairmen, coordinated with a local home staging service and mortgage lenders to provide full service options to buyers. While still in the Great Recession, my home sold at a profit in under two months. I highly recommend MaryLynn for her knowledge of the area, connections with quality vendors, and her deep understanding of the pressures buyers and sellers face when moving in to the Tri-Cities and again when leaving.See More" Heidi Weisert-Peatow
I live down the road from MaryLynn, but we also attended high school together. She is excellent at what she does. My son was looking to buy a house so I recommended that he work with MaryLynn. He was a "Property Virgin" and she handled him skill but carefully! She was able to explain any the details required in buying a home in a manner that he was not overwhelmed. It took several houses before he finally decided on his starter home and she was very patient with him. She knows her business but is also knows how to treat her clients. One other thing is that she is a Go-Getter!See More" Dana Kranz
Mary Lynn is a very knowledgeable and dedicated real estate professional. She has provided excellent service to me for multiple transactions and I wouldn't use any one else. I highly recommend her. You will be given excellence service and dedication with your home sale/purchasing needs. She makes herself available to you 24/7 until you have made the sale or purchase. She has given me some very helpful tips to improve my rental business and she has become a good friend.See More" 04/13/2012 Marjean Dunn
MaryLynn is a very honest and reliable Broker who takes pride in finding everything in a home she can that will please her buyers. She also works continuously to advertise and showcase the homes of sellers. She is very straight forward and knowledgable about what changes may or may not need to be done to sell a home. She also stays involved in the education and continuous changes in reality." 07/29/2013 Angel Moody
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Blog

Winter Selling Your Home in Pasco, Kennewick or Richland WA

People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year round weather or perhaps move across the st... Read more
View All
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