Must have a good location when selling your HOME

Add seasonal flowers for curb appeal

One thing is common among all properties that receive multiple offers these days: the home is in a good location. Location is nearly always what drives homebuyers in their search. Before considering price, number of bedrooms or size of home, a buyer looks for location.

If your home is on a busy street, not in the best school district or near a freeway on/off ramp, chances are you won’t receive the kind of activity that a well-located home would. In that case, work closely with your agent to price the home correctly.

Must be priced right

Buyers in any market look for perceived value. Homes priced 10 percent (or more) over their market value won’t get noticed. Pricing isn’t an exact science, and it’s nearly impossible to pin a precise number to a home until buyer and seller sign a contract and close. Then, the price officially becomes the home’s market value. Until that time, agents can provide sellers with a value range. Have a good location? Does your home show well? Are you in a strong sellers’ market? Price your home on the bottom of that price range and you’ll be sure to attract buyers — and possibly multiple offers.

Must show well

A generation ago, sellers simply did some deep cleaning and maybe some de-cluttering before their first open house. Presentation wasn’t as important then as it is today, given online listings. More buyers today develop an emotional connection to a home. They want to imagine themselves in your home and not feel like they’re a guest. What does that mean? Appeal to the masses. If you have a good location and you plan to price your home realistically, then you need to make sure you give buyers what they want. If you can afford it, make cosmetic upgrades; invest in some staging and work to turn your home into a “product.” Emotionally disconnect from your home and try to see it more objectively.

Plan on having the home in perfect condition for the photo shoot. A buyer’s first impression of your home likely will be via the Internet or an email from their agent. Make them want to step inside. The more buyers you attract to your home, the more activity.

Know your market

Don’t assume that national trends apply to your region, city or neighborhood. If you’re not in a strong sellers’ market or you spend a fortune on last-minute upgrades, you could be in for a giant surprise. Just because you hear about bidding wars and multiple offers on the news doesn’t mean that applies to your area. Home selling is like the stock market it is goes up, down and can have a bit of a lull when interest rates go up and what is happening in the news for your area and even around the world.

Work with a good Realtor and, no, not all agents are Realtors learn the difference.  A local Realtor knows the area and what has recently sold as well as ones that have sold over the past six months to a year. Knowing those homes, having walked inside and personally knowing the agents who have sold them matters. This is market data that an outsider just doesn’t have access to. This knowledge empowers good local agents to educate their sellers.

Houses across the county are selling FAST!

In today’s whirlwind real estate market, houses are selling at astonishing speed – from sea to shining sea. Four years ago, the average house spent 39 days on the market. Two years ago, homes were on the market for about 24 days. Today, that number has dropped to just 17 short days. If you’re looking to sell your house quickly and on the best possible terms, today’s market can’t be beat. DM me to discuss how to secure a speedy, top-dollar sale for your house.

Home Buyers in 2021!

Monday Meme. 👀 Dedicated to all the home buyers out there! Today we put in an offer for a home $85,000 over list and made all the details sweet, simple and easy for the seller. Did we get it NO! 🤬


The Home Connection for June

It’s that time again for your monthly newsletter! Notice QR codes seem to be back? While I like QR codes and think they are handy I sure hope we all can “experience” some of the beautiful places the Pacific Northwest has to explore in person and soon!

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New Listing~ Snohomish Schools

Fircrest Meadows home sitting on a corner lot of a culdesac is a must see! 3 beds/2.5 baths w/custom touches throughout. 1-Year WARRANTY! Wood wrapped windows, designer shades, hardwood floor, skylights, 2 brick fireplace & A/C. Kitchen w/2 dining areas. Spacious living rm, vaulted ceilings & newer carpet. Stretch out in your Master suite showcasing 3d-wall covering, 5-pc bath, rain shower & walk-in-closet. Fully fenced yard w/gazebo & fire pit. 2-car garage, RV park, No HOA, Snohomish schools + close to all!

Click for full info and virtual tour

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Two home in one! Silver Lake/Everett

Have you been looking for an extra large home w/potential of 2 full living spaces? How about 5+beds? MIL, home biz, multi family? This home checks all those boxes & more! Remodeled kitchens, baths, paint, flooring, roof, vinyl siding, gas furnace in 2017, SS appl. & more. Upstairs has an open concept living/dining area. The master has an updated private bath. The lower level boasts full kitchen, dining, family rm & large entry. For full virtual tour and information click here

Tua_listingbe used as a office or studio. Large corner lot. A must see!

Has Real Estate Shutdown in Washington State?

I wanted to reach out to you today as I have been receiving many texts, calls and emails on how this outbreak maybe affecting the busy real estate season. This is a difficult time for all of us and the months ahead will bring uncertainty and challenges, of that, there is no doubt. This morning the owners of our five RE/MAX Elite offices had an online meeting with all of us to share the recent changes that the Northwest Multiple Listing Service (NWMLS) is advising based on social distancing, lowering the group threshold to 50 and best practices to protect our clients, ourselves and the public. We shared thoughts and ideas to keep working and helping our clients with their real estate needs but also to take action to keep everyone safe.

At the time the virus started to rear its ugly head there was a housing shortage. Meaning there were not enough homes for all the buyers that were currently looking. In the last month I have listed 3 homes with each one receiving multiple offers. The last home was two weeks ago, received double digit offers and a listing price that soared the final purchase to over $66,000 from listing price. That fact has not changed. We still are at low levels of inventory and in the last week I have seen homes come on the market and then sell in 3-5 days. I have three closing this week and while I know they are thankful, they are through the process, others are now very concerned what it may mean to them.

With that said in the last few days these are the most pressing questions I have been receiving regarding real estate. I hope I can shed a bit of light for you on what I know to be true currently.

What are interest rates, should I refinance?

Am I going to close on time?

Are open houses still going to be happening?

Should I wait to list or buy?  

Sorry, this is long I will highlight the above question and try to answer the best I can with the information that is continually coming in.

Should I refinance now? I love how so many past clients and friends reach out to me with this question! While I am not a lender, I do try to read all the information coming in and what my preferred lenders are saying. When I am speaking to them I ask what they are seeing and what effects they are feeling. One of my preferred lenders, Duane Martin, at Caliber Home Loans indicated last week that they are inundated by those requesting refinancing. He mentioned that there may be a cap on refi’s right now and they may run out into 60 days to get completed. With so many wanting to refinance this is going to put a large strain on the lenders, title/escrow, appraisers and lending institutions. Home sales and purchase must be the priority.

So, to help answer questions, home mortgage interest rates did dip to a historically low rate and some were able to take advantage of this. They have since come back up to normal rates. This may change. They could go down again, rise or go higher. What you may be hearing more of right now are the interest rates for consumer debt being lowered. Another one of my lender colleagues, Jeff Tisdale from VIP Mortgage out of Tempe, AZ area states “The Fed Funds rate does NOT directly reflect in mortgage rates. The Fed rate impacts shorter term rates like credit cards, HELOCs, car loans, etc. Mortgage rates generally parallel the 10-year treasury bond. HOWEVER, there was a liquidity and volume issue due to the massive amounts of refinance volume, so rates spiked last week. We won’t know how this will affect mortgage rates until tomorrow and the coming days, weeks, etc. The industry can only take on so much at one time. Nobody truly knows what will happen, but I would expect continued volatility in the near future.

What is true is we are in uncharted territory and nobody knows what the short- or long-term effects of this will be.” Jeff goes on to say for anyone interested in refinancing or purchasing to get their application in with ALL supporting documents. The mortgage industry is beyond capacity right now and the complete files will get worked on first. The clients that need to be chased down for paperwork will suffer and wait.

Am I going to close on time? Our team has several clients that are scheduled to close the end of the month. Will we close on time? That is our goal. I am telling all of my clients that we are working behind the scenes to keep up with, and make sure, we work together quickly with Escrow/title your lender, insurance, mortgagor and all the other moving parts involved with a real estate transaction This is our goal! If we make sure all is in order beforehand and you are quick and diligent about getting any last-minute documentation requested into them we should. If, however, the county shuts down and there is no one to complete the transfer and recording process this very likely will delay homes closings.

There is that wish again for a crystal ball!   Best Crystal Ball Stock Photos, Pictures & Royalty-Free Images - iStock

Are open houses still going to be happening? Well that changed very quickly. As of this morning they were advising to not have open houses but you could do one with limiting people through a few at a time, taking safety precautions and letting your seller decide based on if the home was vacant or occupied. After speaking with a seller this morning and coming up with a plan for them and their needs it has since changed. The NWMLS stated this afternoon they are disabling the Open House and Broker feature until the end of the month. What does this mean? Essentially no open houses.  The consumer real estate sites are fed from the NWMLS. All the information on open houses regarding days, times, information and updates feed to sites like Zillow, Realtor.com, Redfin etc. If you go looking on Saturday morning for the open houses for the weekend you are not going to find any. I suppose there may be a rebel out there who puts up an open house sign in hopes that you are wandering aimlessly around and see their sign and say “Wow let’s go” but I doubt it.

Should I wait to list or buy? Of course, we have a huge concern for our clients many of whom we have been working with for months!  

For sellers to get them to the point of selling its not always easy! If you have not sold a home you may not realize the time, energy, cost and all the prep work that goes into doing so. I have 2 sellers right now that I have been working with since September and one since August! We were going to be listing in April/May. So now what? We have some buyers and sellers that are moving on to their next adventure in life. Some are moving across country for jobs or family. Some are downsizing and some are looking for a different home to fit their family’s needs. There is so much thought that goes into buying or selling a home and our job is to direct them while keeping them moving forward to their goal. This service we provide to our clients prior to ever being compensated. Our advice, suggestions, referrals for contractors, lenders, timelines and helping them coordinate for their new home takes great thought, planning, experience and counseling.  We want our clients to know that we will continue to do all we can to direct and guide them. If they have a job they have to be at here in Washington, or another state, then we move forward and help them buy or list their home when planned. If they are moving because they have a new home being built, and do not want 2 mortgages, or need to move to take care of a family member we move forward as planned the best way we can. For each client it’s going to be a different scenario.

When you’re selling a home exposure is key. The more potential buyers see your home and feel themselves living in it the more likely you will get an offer. If we are limited on showings, open houses, Brokers opens, advertising then it will affect the entire experience and days on market will be longer. That is a determination that each needs to make based on their future goals. If, by chance, your kids are now home with you and that idea of decluttering and packing while they were at school has now turned into home-schooling then well, we may have to re-adjust your goal.

For our buyers you may be looking on line but you need to see the home and feel how you would flow in it and make sure it meets your needs. This is very difficult to do without physically viewing and we want you to know that Britt and I will be available for private showings at this time, and as the needs arise, if the home allows it. 

It will be okay and together we can do it! We need to go with the flow but flow we must.  I feel the worst thing we can do is just freeze and not move forward. Yes, we may be hitting the pause button for a bit but, we must move forward.

Please remember during this time of uncertainty, I want you to know that we are thinking of you and will do whatever we can to support our clients and their goals. Yes, this outbreak is very scary, but we can’t let it dismantle our economy. Small businesses will suffer and there will be effects down the road that will affect us all. We need to be caring and do all we can to support/shop local.

Please don’t live in fear. Be smart, stay safe, stay healthy and keep in touch.

I would be happy to go into this deeper with anyone that has questions.

Feel free to reach out!

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Jen Murrweiss and Britt Maltos

 

Real Estate Market Snapshot December 2019

Welcome to 2020 and happy New Year! I hope it will be an amazing year for you and all of us! The infographic you see below is for Washington in a whole. If you would like to see local stats I  am also providing you with the stats for Snohomish County and King County. 

December 2019 Market Snapshot Infographic

Historic 1901 Everett Home- SOLD!

A huge congrats 🕺to my home seller! 🤩We are officially closed on this beautiful Historic Everett home. 🏠 This was a tough one 4 offers over the past 6 months. We had challenges as there was a fire next next door and that brought on several challenges that we could not foresee but we did it! Doing a happy dance 💃 for everyone! #snohomishcountyhomesteam #snohomishcountyhomes #snohomishcountyrealestate #everetthistorichome #homesold

The Home Connection Oct 2019

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