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.

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!

The Home Connection

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!

Real Estate Market in Snohomish County is seeing double digit escalation offers: Need sellers!

Trying something a bit unconventional! 💡If you do not know how the Real estate market is right now I am going to take a quote🗣 from the MLS “The economics of scarcity are driving prices up at an unsustainable pace,” said Dick Beeson, managing broker 👩‍🏫at RE/MAX Northwest. “What will happen this spring and summer 🌞 will likely be more of the same. 🆘The real estate vortex we’re in of depleted inventory and high prices is real and unrelenting.” “If interest rates weren’t historically low, buyers would be unable to afford the escalating cost of housing,” suggested Beeson. “We’re feeling nervous about where this market is headed,” he said, adding, “Help is not on the way. Sellers are almost as rare as the dodo bird.” Although he noted the number of new listings🏡 coming onto the market has kept pace or even exceeded last year’s totals in some areas, (Not Snoho county) “new listings are immediately devoured by a plethora of waiting buyers.” The situation has buyers asking, “Am I paying too much?” 💸and sellers asking, “Can we ask more?” 💸That answer for both is “Yes,” says Beeson

Do you know Snohomish county does not even have 2 weeks of inventory? I listed a home in Marysville a few weeks ago and within 2 days I had 18 offers! Many waived everything and, I mean everything. The offer my sellers decided to accept? 140k over asking and covering the difference of a low appraisal! 👀 So why am I bothering you with this?👂We have 5 home buyers that we have been working to find homes and one family that currently has 7 family members living in the same townhome as they have special needs and we want to find them homes! We were just beat out of an offer that we put in for them. Our offer was 50k over asking and waiving all we could plus they would cover a 25k low appraisal. The offer that got it was $80k over list❗️❗️In almost 11 years in Real Estate I have never experienced anything like what is happening. I rarely do not get my clients the home they want on the first try but, right now there are to many buyers, low interest rates and not enough homes on the market to sell. So I am trying to think outside the box.🕵️‍♀️ If you happen to know of anyone thinking of selling within these parameters can you PLEASE consider having them contact me? 📞 Believe me I have scoped out everything online, even FSBO, and so I am reaching out.

✅ Local firefighter‍🚒Veteran wanting to use his VA loan for the first time. They are approved for up to 500k. They would love a small rambler w/garage and a bit of a yard. Flexible on area. Currently looking in Lake Stevens, Marysville and Arlington. 3-bed, 1.5 bath. Home does need to be in good condition for VA financing but if something is called out and if a little something is needed to push I will do it!

✅Family of seven. Multigenerational family with one of the parents being confined to bed permanently. We are trying to find a home that has 2, or potentially 2, living arrangements. A split maybe for parents to live downstairs and the younger families up? They have 2 small pet 🐐goats so no HOA neighborhood. Underwritten approved to 675k.

✅First time home buyer with 2 small kids and need a home they can keep their laying hens with them. No HOA against chickens. 🐓3 bed/ 1.5 bath with a garage detached or attached. Like homes with a bit of lot. Looking in Marysville, Granite falls, Arlington area. Underwritten approved to 500k.

✅First time home buyer couple. No kids yet but want to have a couple fur babies 🐕🐕‍🦺soon as they lost there two older ones in the last year. Underwritten approved to 570k, 3 bed, 2 bath. Like newer modern homes but not the zero lot line ones.

✅First time home buyer expecting their first baby in May. Underwritten approved to 425k. Flexible on location but prefer Everett and going east or north is okay. At least a 2 bedroom, 1 bath.

🔑This is not something I would normally do or ask but I want to do the best for my clients and never hurts to try right?

Please reach out if you know of anyone, wanting or thinking, about selling. That could help my buyers or another family that is looking for a home. ☎️

Thank you!!

Three homes for this family!

Yeah, summer 🌞 is here and some hot days are coming! Finally!! But you know what is hotter?🔥 This real estate market!! 🔥
In 2015, after working with one of my favorite families 👨‍👩‍👧‍👦👨‍👩‍👦‍👦👨‍👩‍👧‍👧👩‍👩‍👦 for a few years. (they were in no hurry) I found them their first home. 🏠Fast forward to 2020 we listed their home in Lake Stevens and officially just sold on 7/31/2020. 💯 Now we wait as they hold up with family for a few months and watch the contruction of their new home. 🔑🔑 I am so blessed to have this amazing family in my life and had so much fun and laughter with them again. The hardest part of my job is when we close and I don’t see them anymore but, I always will stay in touch and I will see them again soon.

11106 24th Place SE, Lake Stevens, WA 98258- SOLD $609,950
New home is coming along and set to be done in October 2020

 #snohomishcountyhomesteam #snohomishcountyrealestate #realtor #snohomishcountyhomesteam #drhorton #lovewhatido #remaxelite

Snohomish County monthly real estate stats

September 20, 2016| Snohomish County Homes INC.

 Snohomish County Home

Snohomish County Statistics as of August 2016

Active Inventory: +13% Aug 2016 vs. Aug 2015

2009 available homes currently on market -46 vs. last month.

Pending Transactions: Up 14% Aug 2016 vs. Aug 2015

2071 units +94 vs. last month

Sold Transactions:+7% Aug 2016 vs. 2016

1748 units +75 than last month

Days on Market

Snohomish County Active to pending 26 days vs. 35 a year ago up 2 days from last month.

Median home price in Snohomish County is at a record high of $395,000!!!  +9% last year.  Down $3,000 from last month.

Area price % based on last Quarter

Bothell + 11%, Edmonds/Lynnwood +7%. Everett/Mukilteo +7%

Snohomish/Monroe+ 13%. Lake Stevens/Granite Falls +6%.

Marysville +14%

Snohomish County Statistics July 2016

Snohomish County HomeSnohomish County HomeSnohomish County Home

Active Inventory

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.

Pending Transactions

Up +3% July 2016 vs. July 2015

2079 units went pending last month that is 62 less however than June.  

Sold Transactions

+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.

Area price % growth based on last Quarter

Bothell + 14%, Edmonds/Lynnwood +5%. Everett/Mukilteo +11%

Snohomish/Monroe + 11%. Lake Stevens/Granite Falls/Arlington/Darrington +7 %. Marysville +7%

New Construction is included in these percentages.  

July 2016 Market Characteristics:

  • Sellers: position your home to get premium pricing.
  • Buyers: need to be Buyer-Ready, Day-One™ to get a home in today’s market.
  • The market continues to be more intense than during the same time in year 2015.
  • Sales activity in King and Snohomish County is lower than a year ago but July 2015 was the best July on record. If we had more homes for sale, we would have had more sales activity.
  • There’s a severe shortage of homes for sale close to job centers. We are virtually sold out, and each new property on the market is getting instant action and most of the time multiple offers.
  • More new listings will lead to a higher level of sales activity.
  • Prices are increasing in the price ranges and the market areas where 90 percent of the sales activity is taking place, leading to premium pricing for sellers in those areas.
  • Interest rates continue to be in the upper threes.
  • Multiple offer everything
  • More new listings come on market from March through October than November through February.
  • More selection but also more intense.

 

Real Estate news and more

Happy Friday! I hope you enjoy this Real Estate round up of our area and other interesting articles plus some fun stuff too.seattle

REAL ESTATE news

Real estate getting bubbly but unlikely to pop, Seattle “is on fire across every sector

 

Number of million-dollar homes in Seattle area has tripled since 2012

U.S. existing home sales rise for a second straight month

MORTGAGE & FINANCE news

3 financial apps that will transform how you manage money

Will Millennials ever be able to retire?

The 7 biggest investment mistakes celebrities make

 

 fireplace

HOME trends

From ceiling space to playroom

10 tips for budget-friendly lawn care

7 weird ways to stay cool this summer

LOCAL news

Massive frozen food recall in Washington State

Seattle No. 3 on top 25 best cities to find great jobs

Seattle to host 2018 Special Olympics

Is Seattle a better bicycle city than Portland?

Seattle homes selling faster than anywhere else in the U.S.

Seattle growth was 11th fastest according to just released Census data, now 18th on list of biggest U.S. cities

Facebook unveils Frank Gehry design for its new South Lake Union offices

Snohomish County looking to increase bike tourism

Snohomish county offers top teacher salaries in the state

City of Edmonds to develop an affordable housing strategy by 2019

WEEKLY DOSE OF awesomeness

House made from cardboard for is not your kid’s refrigerator box

 

 Have a spectacular weekend everyone! 

#snohomishcountyhomes

 

 

 

Homes for Heroes~ Real Estate savings


Homes for HeroesPicture of who is elgible

What is it?

Homes for Heroes is a national program dedicated to providing extraordinary savings to heroes who provide extraordinary services to our community each and every day, when they buy or sell a home.

What are the savings?

Savings will depend on the sales price of the home. As an example, a $300,000 house would receive over $3,000 in credits and discounts from all the participating affiliates and vendors involved.

What does it cost me?

Nothing because it’s FREE. There is no cost to you. All costs are covered by your local participating vendors.

 Can I buy any home and in any area?

Yes. This is not a government program with limitations or restrictions. This is the private sector giving back simply as our way to say Thank You for all that you do every day.

Are there any other benefits or savings after my transaction is done?

Yes. Through the “Friends of Heroes” Network participating vendors will offer discounts on various other services such as moving, storage, pest, lawn care, plumbing, electrical, cleaning and remodeling to name a few. 

Are there a lot of extra applications, forms or some future obligation?   

None.  The Homes for Heroes Promise is:

No hidden fees   No red tape  No catch

How do I find out more?

Go to HOMESFORHEROES.COM or scan the QR code below on your smart phone. Let us know who you are and what you do. A local affiliate will contact you with no obligation.

My Homes Heroes

 

Taxes- What to Keep and for how long

With Tax day upon us I thought this would be a great reminder.

Taxes

Tax Returns- 7 years- Keep tax returns and all supporting tax docs. including W-2s, 1099 forms, property tax info, bank statements, mortgage interest statements, cancelled checks, receipts, home purchase, home improvement info.

Paycheck Stubs 1 year- Shred after confirming info matches W-2.

Home Ownership- Mortgage docs 10 years, After property has sold 7 years Mortgage statements 7 years, After property has sold 10 years, Repair bills/contracts 10 years.

Insurances- Home 5 years, Life of policy + 3 years, Medical 5 years

Investment/Retirement Accounts- IRA contributions permanently, 401K annual summaries- Keep until you close the account. Investment statements 7 years after last account is sold.

Permanently- Never Shred- Adoption/Guardianship Papers, Birth Certificates, Citizen/Naturalization,Health/Immunization, Lawsuits, Marriage/Divorce Decree, Pension Plan Docs.Veteran Papers.

If it is time to get rid of some of those old docs look for a shredding event near you. Here is one sponsored from BECU this Saturday.