There are so many good reasons for home improvement — even in a tough economy. You may want to boost your home’s future sales value, add livable space, refresh an aging room or feature. Or you may just want to enjoy your home more, especially if you wanted to move but the market didn’t cooperate. Find out which projects could bring you joy — and some cash back!
Is the kitchen the biggest project that will pay you back or the bathroom?
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.
Happy Tuesday and Welcome to August! Yep, I am a few days late on the monthly newsletter please forgive me I was having a very fun weekend at the Gorge and Watershed. A bit slow and tired today but it was worth it. So as we slide into August enjoy with some great events, ideas, tips, real estate news and its National watermelon day so go enjoy!
Its been a HOT, HOT summer and the Real Estate market is no exception! Lets take a peak at your EYE on the market and then relax a bit with some grilling tips plus other tips, tricks and events. Enjoy!
I hope you all had a wonderful Thanksgiving and weekend! Here is your December issue of our Newsletter. With your eye on this crazy busy market, tips and includes some gift ideas! 😊 Have a blessed, happy and safe holiday season.
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.
Prices are up 5% over last year same time July 2016 vs. July 2015
2141 brand new listings in July that is up 53 from last month. 2141 total active at the end of the month.
Up +3% July 2016 vs. July 2015
2079 units went pending last month that is 62 less however than June.
+9% July 2016 vs. July 2015.
1673 units +11 more than last month
Days on Market
Snohomish County Active to pending 25 days vs. 36 a year ago. Incredible!
Median home price in Snohomish County $387,000!!
Median home price in King County $523,000. Snohomish county is gaining however the gap between King and Snohomish is growing.
Months of inventory
If no additional homes would be put on the market, there would be no inventory left after 1.25 months in Snohomish County. In King County that figure is 1.2 months. A balanced “normal” market is 3-6 months. Buyers’ market more than 6 and Sellers less than 3 months.