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.

Seller Prepare For The Home Inspection

Be Prepared!

I know the last year has you asking yourself I don’t need to worry buyers are waiving inspections. I guarantee you that is changing and if you do not wish to have a Seller’s pre-inspection than you may wish to check out this list. You can make your home more attractive to buyers and increase your likelihood of obtaining a positive inspection report by performing routine maintenance now before going on the market.

A visual inspection does not pass or fail a house but simply describes those items in need of minor or major repair or replacement. The inspector will visually examine the structure, crawl space, attic, mechanical components and all interior rooms, as well as closets.

On the day of you can help by having keys available to any locked doors, removing obstacles around water heaters and other appliances, removing items from closets that provide access to attics, and so on. Please be ready to indicate the location of hidden components such as the water meter, electrical panel, sump pump and main sewer clean out.

You can eliminate seasonal limitations on the inspection by clearing pathways of snow or debris. Ensure that appliances not tested because of the temperature (such as air conditioners in winter) are operation. Move boxes and storage items away from interior walls and make certain the entire perimeter of the house can be observed. Finally, leave pets with a friend or, take them with you, for the few hours of the inspection.


EXTERIOR COMPONENTS

  • Repair minor defects in the exterior wall coverings.
  • Repair damaged masonry on walkways and steps.
  • Repair missing or loose railings on decks and steps.
  • Recaulk around exterior windows and doors.
  • Replace missing or damaged shingles
  • Recaulk around flashing.
  • Clean debris from gutters.
  • Ensure downspouts are intact and water drains away from the house.
  • Trim trees and shrubs away from the roof.

INTERIOR COMPONENTS

  • Loosen any windows that are painted shut.
  • Replace missing or faulty hardware on doors and windows.
  • Repair any broken or cracked windows.
  • Replace damaged baseboard or molding.
  • Recaulk around bathtub and kitchen/bathroom sinks.
  • Re-grout tub and shower enclosures and the kitchen backsplash.
  • Repair leaky faucets and fixtures.
  • Unclog slow drains using commercial cleaner.
  • Replace oversized fuses with proper fuses.
  • Repair faulty receptacles and switches.
  • Ensure exhaust fans are in working order.
  • Have the fireplace chimney swept.
  • Have the furnace or other major appliances serviced.
  • Ensure central vacuum, garbage disposal, water softener and other ancillary components not part of the standard inspection are in working order.
  • Replace dead batteries in smoke and CO detectors.
  • Have service contracts, manuals and warranties available and in a drawer for the inspector/buyer to access.

Prior planning always pays off and makes for a smooth transaction after securing a buyer. Reach out to me for questions on this or if you are considering selling your home.

Rental payments now to be included as part of purchasing a home.

Hey RENTERS we have good news!  Rental payments now to be included as part of the underwriting process!

Happy Home Buyers.

What does this mean?

Did you know that effective Sept 18 Fannie Mae has allowed rental payment history to be included in the underwriting process. Essentially making it easier for renters to become homeowners!  

Rent is most times the largest expense for families and history of paying it on-time will now be considered for credit worthiness.  With Fannie Mae’s new guideline, any missed rental payment wont’ keep you from getting a mortgage.  With what’s going on around us, this couldn’t have come at a better time.

“For many households, rent is the single largest monthly expense. There is absolutely no reason timely payment of monthly housing expenses shouldn’t be included in underwriting calculations,” said Thompson. “With this update, Fannie Mae is taking another step toward understanding how rental payments can more broadly be included in a credit assessment, providing an additional opportunity for renters to achieve the dream of sustainable homeownership.”?

Those you might have been previously rejected due to lack of credit history may have greater chances getting into their dream home.

If you think this will benefit you, reach out today and let’s hop on a call to discuss next steps!

Martin Luther King, Jr. 2021

Fill in the blank…

“I have a _________…”

It doesn’t take a psychic to know what word you chose.

Was it “dream”?

Good chance it was. We all know this line from Martin Luther King, Jr.’s famous speech. So when we hear those first three words, it sort of naturally comes to mind.

But what many people aren’t aware of is how much he affected the lives of real estate agents, buyers, and sellers.

It was his death that gave Congress the last push needed to pass the Fair Housing Act, back in 1968. It’s pretty involved, but to put it simply…

This was put in place to ban racial discrimination in housing. You can’t be refused the rental or purchase of a house, based upon your race.

Seems simple enough to most people now. A given, if you will. But it didn’t happen overnight. And believe it or not, it still can and does come up.

But guess who’s a big part of making sure this Act is followed…

On the front lines, it’s real estate agents. We’re tasked with making people aware that discrimination based upon race (and many other things) are not acceptable, and they must refuse to work with anyone who wants to do so.

Real estate agents are proud to be a part of this ongoing history.

Today is the day where we take a moment to reflect and pay him respect. It’s also a good day to share some insight into how much more responsibility real estate agents have than meets the eye.

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!

Home buyers in Western Washington “hit the ground running” in January

KIRKLAND, Washington (February 6, 2020) – “All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price increases.

This information above taken from the NWMLS is exactly what my team has been seeing! We just got a buyer under contract on a home and it was their third offer! Another buyer lost out to a “cash” offer and there were 14 other offers on the same property! Yet another buyer competed with 10 offers. Yes, it is making for a busy January and start to the spring selling season for the Snohomish County Homes Team! 

Snohomish County Statistics as of January 2020

Active Inventory +11% January 2020 vs. January 2019. 1504 available homes came on the market that is up 673 from December.

Pending Transactions +13% January 2020 vs. January 2019/1727 units +458 vs. December

Sold Transactions +12%! January 2020 vs. 2019 /975 homes sold.

Days on Market Snohomish County Active to pending 47 days vs. 49 a year ago.

Median home price in Snohomish County 505,000 +7% last year. Up $21,000 from last month! Our months of inventory has gone up giving more choice for buyers but keeping it a sellers’ market. There is currently 1.43 months of inventory in Snohomish county which is up 12%. In King County there is currently 1.40 months.

Area price and % based on last month (includes new construction

Bothell-$659,000 -2% from last month.

Edmonds/Lynnwood $520,000 +14%.

Everett/Mukilteo $478,000 +11%.

Snohomish/Monroe $510,000 + 25%—– WOW!!

Lake Stevens/Granite Falls $459,995 +18%

Marysville $424,600 +13%

King County Median home prices are $610,000 +3% over last year but down $77k from last month! With an average day on market of 76 days. King County does have a slower percentage growth over last year and days on market is up plus the price point dropped quite a bit over the end of 2019. However, bouncing around monthly depending on inventory and will keep us hopping into 2020.

Here is a snapshot of statistics for all counties under the Northwest Multiple services. 

 

 

The Home Connection January 2020

Happy New Year!!!

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