Amazing Real Estate Tips, Trends & Ideas for the Greater Seattle market: Local real estate news in the Greater Seattle market: Home prices and trends in Seattle, on the Eastside, and across the Puget Sound region. By Dave McFarland, Broker with RSVP Real Estate.
You’ll know this property is different than all others as soon as you drive down the long country lane and pull up to the elegant wrought iron gate. It’s both stylish and functional. The first thing you’ll notice is the well groomed landscape and the long drive past the main house to the Auxiliary Dwelling Unit (ADU) or mother-in-law appartment.
This beautiful well maintained one-story country home sits on over an acre and is fully fenced. You’ll think you were walking in a quiet park with Japanese Maple trees and lush lawns. But don’t be fooled. This property has what it takes to board horses complete with tack room, paddocks and storage.
This classic one-story rambler style 2,178 square foot home has a large barn/shop. It has been remodeled with new furnace, heat-pump, beautiful stainless steel appliances, a new deck and more! The 1.2 acres feels much larger as every inch is usable. Barn has 2 stalls with exterior double-dutch doors, hot-water wash rack, tack room, large deck off master, and dining room, newer washer and dryer both stay. There is plenty of room for a couple horses.
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Buyers pay up to 9.1% above asking on a certain day, and up to 5.9% above in a certain month
According to the latest data, May is the best month to sell a home because homeowners, on average, received offers 5.9 percent above asking price — the highest of any month.
June and August were the second and third best months with an average seller premium of 5.8 percent and 4.2 percent, respectively. To no one’s surprise, winter months ranked last, since home selling and buying activity tends to slow down as temperatures fall.
October and December were the worst months to sell, with homes only selling 1.6 percent above selling price.
If you’re going to bet on one particular day to sell, go with June 28 — on this day, homes were sold for 9.1 percent above asking price. Feb. 15, May 31, May 29 and June 21 also yielded great results for sellers as well — on these days, homes sold for 8.1 percent to 9 percent above asking price.
May and the summer months are when buyer demand increases for a couple of reasons. First is the weather is warmer and more conducive for buyers to get out and about looking at properties.
This is particularly true in markets with a colder winter and fall. Second, buyer demand increases because prospective homebuyers with kids are more willing to move during the summer months when their kids are out of school.
Although summer months tend to usher in red-hot buyer demand in most markets, markets with year-round high temperatures tend to be more active as the weather cools down. In Miami and Phoenix, for example, January and November are the best months for sellers to list their homes.
Want to know more about getting top dollar for your home? We're happy to sit down and do a no-strings-attached consultation with you in your home. Simply give us a call at (425) 330-0663 or drop us a note and we'll be in touch right away.
If you want to know what people are saying about working with Dave McFarland and his team, you can see lots of real customer reviews right here.
King County housing market kicks off 2018 even hotter than before, as Seattle breaks price record. We usually think of the winter months as the slower time for the housing market. That’s changed, at least in the Seattle area. Hunting for a home has become a year round activity here.
If you think prices in 2017 were high, hold on to your hats. 2018 is shaping up to be even hotter.
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.
Our top-rated real estate buyer agents hear stories all the time from buyers who failed to know about great listings until after they were under contract. Often times, they wish they had been alerted by their former real estate agent so they could have seen the home during the few hours it was available.
Years ago, when there was a glut of homes for sale in our area, this was not a problem. Buyers could look at a home a few weeks after it hit the market, sleep on it if they wanted to make an offer, then come in and rarely have much competition when it came time to negotiate.
Well, we knew that wouldn't last.
We decided to create a website that would allow buyers to have the same timely access to information as real estate agents do when using the local MLS. Our buyer clients now had access to the most current, accurate information possible.
Many sites claim to have the same features as ours, but none of them have worked out the bugs to bring you the combination of TIMELY and ACCURATE listings as well as neighborhood level reports showing what is going on. Many allow you to sign up for listing notifications, but then you start getting bombarded with homes that have already been sold. Some even update their information more than once each day, but many of them fail to remove those properties already under contract.
We update our listing information many times daily, and we show you homes that are still available.
The property search tool that we feature on MyNorthwestHomes.com allows you to get timely, accurate information, and when combined with a world-class real estate buyer's agent, you will be better informed than you can be with any other website and/or real estate company.
Use Listing Notifications To Stay Informed
Creating and saving your property search is very easy to do. The image below shows you the three steps you need to take to be informed.
Saving Your Property Search - By The Numbers
1. Visit our advanced property search tool (HERE) and provide the details that you are seeking. Put in a price range, bedrooms, baths, special amenities (like a pool), etc. The more details you use, the fewer properties you'll need to sort through to find your dream home.
2. Click on the "Save Search" button and a little window will open (like the one in the image above). Give your search a name (you can create as many searches as you like, so be specific and informative with the name). Once done, you will never have to re-enter your search criteria.
3. Choose whether or not you want our search tool to send you email alerts. If so, you can have them set at a frequency to your liking: Immediately, Once a day, Twice a week, Once a week, Twice a month, or Monthly. If you are many months away from buying a home, you might choose "Monthly" or "Weekly" alerts. But if you are ready to buy a home and are just waiting for the right one to hit the market, choose the daily frequency.
You can save as many different searches as you like, and give them descriptive names. Waterfront homes in Seattle, homes in the very sought after Northshore School District, homes on acreage in Snohomish County ... you can do them all. Decide which ones you want delivered (and how often), and then you'll be all set.
Our yore experienced buyers update their search criteria as the get closer to the time to buy. They tighten
price ranges and drop features which are not critical. At first it is cool to get a bunch of listings delivered, but after a while, all you want is "the perfect home" for you and your family.
Great Information You Need to Buy a Home
If you are in the market for a home in the next year or two, I strongly suggest you download our FREE e-guide "Things to Consider When Buying a Home." The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
You may be wondering if now is a good time to buy a home… or if interest rates are projected to rise or fall. Our free eGuide will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
Simply click here to receive your copy of the eGuide, and feel free to get in touch if you have any questions.
While first time homebuyers gain a lot of insight from this guide, we actually get more feedback from experienced homebuyers who tell us they learned a lot from the guide. Real estate has changed… your tactics for getting the best deal have to change too. Get our Home Buyers Guide today, you'll be glad you did.
Protection for a buyer’s down payment? You Bet!
Evergreen Home Loans, a trusted lender we work with has Down Payment Protection! WHAT? Protection for your down payment....
Sound interesting? It should and you can find out more by clicking here. We can put you in touch with people who can provide all the details without any obligation whats so ever!
Owning a home and making mortgage payments is like putting money in the bank. Barring a market reversal, that nest egg of equity in your home will grow and grow. And for most homeowners, their house is their largest asset—which means there’s a lot of money at stake when it comes time to sell.
Want to get as much money back as possible from this big-ticket investment? Of course you do! So avoid doing these nine things when you put your home on the market.
1. Ignoring your agent's advice
Although you don’t technically need to use a real estate agent to sell your home, hiring one can help you get more money in your pocket.
A good listing agent can assist you with pricing your home, marketing it, negotiating with buyers, and guiding you through the closing process. That's a lot of responsibility—and you might feel slightly uncomfortable putting your faith in a stranger's hands. However, because your agent has a fiduciary responsibility to look out for your best interests, you need to trust the person's advice. So, if your agent says to do something—like make a price reduction—you should do it, says Daniel Gyomory, a real estate agent in Northville, MI.
2. Neglecting important repairs prior to listing your home
Most home buyers will require a home inspection contingency. But that doesn’t mean you should wait for the home inspector to tell you what to fix. If your home has noticeable flaws, go ahead and ask your agent whether you should address them before putting your house on the market.
“Something as small as a leaky kitchen faucet can be a red flag to a buyer, since the person might assume there are bigger issues with the home,” says Gyomory.
3. Being restrictive with showings
You want the greatest number of potential buyers to see your home, says Bellevue, WA, real estate agent Holly Gray. Hence, you need to be extremely flexible when responding to showing requests, says Gray. (Read: Be ready to leave your house at a moment’s notice.) Bear in mind that if you decline a showing, the buyer might not come back—and you could potentially lose out on a great offer.
"Expect little privacy when selling your house,” says Karen Elmir, a luxury real estate agent in Miami.
4. Failing to keep the house tidy
To be prepared for last-minute showing requests, you have to keep your home relatively clean, neat, and organized at all times.
“Your home should look as much like a model home as possible,” says Gray. In other words, try your best to make the place look spotless (or close to it) before buyers arrive.
5. Being present for showings or open houses
Home buyers are already apprehensive about touring a stranger’s property, so don’t make things even more awkward by sticking around for open houses or showings. Buyers need to be able to envision your home as their own, which can be difficult to do if they see you hanging around the house, says Danielle Schlesier, a real estate agent in Brookline, MA.
6. Letting a pet spoil your sale
Even though you love your pet, a home buyer might not feel the same way. Also, dogs, cats, and other animals often leave behind a bad odor, which can be an immediate turnoff.
Plus, “some home buyers are allergic to pets,” says Gyomory. So, instead of crating or confining Fido to a special area of the house during showings, take him with you for a walk while buyers are viewing your home. Even better: Drop him off at Grandma’s house for an extended stay while the home is listed for sale.
7. Reviewing offers with a closed mind
Many people form an emotional attachment to their home. But don't let those feelings cloud your vision, especially when you receive offers.
In an ideal world, you’ll nab a full-price (or higher) offer for your home, but be willing to negotiate if you receive an offer that’s below list price.
“Some people will have their mind made up that they won’t take a dollar less than their asking price,” which can kill a potential sale, Gyomory says. Trust your agent to negotiate on your behalf to help you get the best deal.
8. Balking over requested repairs
No matter how well you’ve maintained your house, a buyer’s home inspector is going to find issues with the property. Be prepared to make repairs during the home inspection negotiation period—or at least offer the buyer credit at closing.
Whatever you do, “don’t fight over a few hundred dollars,” says Gyomory.
9. Overlooking closing costs
While home buyers shoulder the lion's share of the closing costs, home sellers still chip in a good chunk of cash at settlement—roughly 1% to 3% of the home’s final sales price. Unfortunately, many sellers don’t budget for closing fees. In fact, "a lot of sellers only look at their agent’s commission” when calculating their closing costs, says Gyomory.
As a home seller, you can expect to be responsible for some of these closing costs:
A closing fee, paid to the title company or attorney's office where everyone meets to close on the home
Taxes on the home sale
A fee for transferring the title to the new owner
Get our FREE tip sheet "5 Reasons To Sell Your Home This Winter"
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The holiday season is a time of year I often take for granted. It's a time I look forward to for feasting, family and football. This year will be a little different.
A while ago I watched a documentary, "On the Way to School," that put gratitude in a whole different light.
I remember the movie's tagline is "Too often we forget how lucky we are to go to school." To illustrate this point, the movie trails children from three continents on their daily journeys to school.
In Kenya, Jackson and his sister must avoid elephants on what is described in the film as more than a nine-mile journey that takes two hours. In Morocco, Zahira treks through the Atlas Mountains for about 13 ½ miles and four hours. In India, Samuel is pushed in a wheelchair by his brothers for over two miles and an hour and 15 minutes. In Argentina, Carlito and his sister ride through scenic Patagonian vistas on a horse, a trip that covers 11 miles and an hour and a half.
This documentary reminded me of just how lucky we are in in America and other more prosperous counties to enjoy so many blessings and conveniences that we often take for granted. It's easy to be grateful for the big things when the family's gathered around the table for a big feast - things like the abundance of food, a nice house, wonderful business and investment opportunities - but, in the quiet moments, how many of us take time to count the little blessings in our lives?
The convenience and choices in the U.S. are just one example of how good we have it compared to those less fortunate across the globe.
There are far more extreme examples of how good we have it compared to the rest of the world when we consider the following facts on the bare necessities of life many of us take for granted:
1. Shelter. An estimated 100 million people worldwide are homeless.
2. Water. 780 million people lack access to safe drinking water according towater.org. More than 3.4 million people die each year from water, sanitation, and hygiene-related causes. Lack of access
to clean water and sanitation kills children at a rate equivalent of a jumbo jet crashing every four hours.
3. Food. Over 7.5 million children under the age of 5 die from malnutrition and mostly preventable diseases each year. Some 805 million people in the world do not have enough food to lead a healthy active life. That's about one in nine people on earth, according to the Hunger Statistics of the United Nations World Food Program.
4. Health. 36 million deaths each year are caused by non-communicable diseases, such as cardiovascular disease, cancer, diabetes and chronic lung diseases. One billion people lack access to health care systems.
How blessed are we to be living in this great country of ours with the many opportunities and conveniences it affords us?
This year, Robs and I will look beyond the obvious and give thanks for the little things so many in the rest of the world can only dream of having or experiencing.