Categorieshome values, info for home owners, Seattle, Uncategorized

The Importance of Pricing Strategy

Crazy sellers market right?
Tempted to price just a smidge higher?
Let’s talk about the importance of strategic pricing…

In this sellers market, many sellers are wanting to see just how high they can push their list price. The conversation goes something like this, “because my neighbors put their house on the market for $400,000 and received $50,000 over asking, I want to list my house for $450,000”. It is extremely tempting to push the market; that is, price your home at the tippy top of what you think is possible in this market. This graph below from the National Association of Realtors shows the percentage of buyers who will look at your house if it is priced at market, below market and above market.

PricingBuyers still want to see prices reflect market value and then decide if they are willing to pay more to compete. When it is obvious the house is overpriced or pushing the envelope, they pass it up and will likely go pay just as much for another house around the corner that used a smarter pricing strategy. Pricing, as always, is paramount. Metropolist agents are skilled and educated to help you price your home to get the most money – and perhaps even more importantly the best contract terms – in this market. If you have been thinking of selling, or know someone who is, give us a call!

Categoriesinfo for buyers, info for home owners, Uncategorized

The ‘Modern’ Mystery

WHAT IS MODERN???

Many of you probably wonder what I’m talking about when I mention 360 Modern. Some of you may even wonder what the heck I mean by modern in general??? Am I talking about all those 50’s houses I can’t get enough of?  What about those ugly towering town homes they built down the street?  What is “Modern”?
Well my friends at 360 Modern give us a little taste of what we mean by that here. Take a look and let me know what YOU think “Modern” is! 

Categoriesinfo for home owners, Uncategorized

Re Do the Loo!

The bathroom is one of the most popular rooms of the house to renovate. But, you don’t have to overhaul it to make it sparkle like new. Below are five tips to enhance the appearance of your bathroom without undertaking an expensive and intensive remodel. Forward this information on to family and friends who are looking to update their bathrooms.

Categorieseconomy, home values, info for home owners, referrals, Seattle, Washington real estate, Windermere

Seattle Digs YOU!

To my current clients & former clients, friends, family and colleagues,

I hope you dig me too.
This is my love letter to you and to the Seattle real estate market. It’s back baby! So, is it good time to buy? Sell? Simply peek around? Of course! Please read on.

2012: Armageddon Outta Here!

The past few years were rough.But you hung in there and now housing prices are perking up like my Lola’s ears when I near the fridge. For Sale inventories today are near all time lows.
Homeowners who were under water are making it back to the surface.
A seller’s market can be a great time to buy if you have a good negotiator on your side. Someone like me!
2013: Don’t Lose It, Lease It
This year, many homeowners are moving onward and upward while turning their current homes into rental properties.
Why?
There are more qualified renters than there are available homes. Rental income can offset mortgage payments while your home equity continues to rebuild.
Interested in buying without selling?
I’ll show you how!

Not Every House is a Winner

This house was like a date from hell. Looks like marriage material, but once you get to know it — total nightmare!
I recently helped a buyer score a beautiful house built in the 1980’s despite competing buyers.
Good thing Seattle Digs keeps the champagne on ice until the inspection is complete.
Reis Pearson of Inside Out Building Inspection discovered the siding trim was not properly installed,
causing 30 years of unseen water damage and infestation below the surface.

Estimated repair bill: $150,000.
My buyers were able to walk away without leaving their hearts — or their deposit — behind.

Like what you see? Dig This!

Seattle Digs is an easier, less stressful, more fun way to buy a home.
Learn more about Seattle Digs’ fresh approach to real estate at the

I’m looking for Ladies. Gents. Families too. If your friends, family and neighbors are thinking about transplanting this year — don’t send them to Google, send them to me!
I will help them get where they want to go.

In case you haven’t already been there, check out the…
All-New Seattle Digs Website!

Categoriesinfo for home owners

A Slow Home Manifesto

One of my favorite websites these days is Re-Nest.  This site has everything from DIY home projects, ideas for living in small spaces and stay organized, ways to be green at home and TONS of great design ideas.

Recently I ran across the article focusing on the Slow Home .  “Like the Slow Food movement, which exists in opposition to “fast food” in its celebration of local food traditions and culture, the Slow Home is one that takes a calm, carefully considered, and intuitive approach to home design and living.”

I always appreciate getting more perspective on how to live lighter, healthier and happier.  So it’s wonderful to discover new ways that can be welcomed into our dwellings.  I think home owners and renters alike will find this insightful and thought provoking.

Enjoy!
Domenica

Categoriesinfo for home owners

Home Moaner-ship

Like it or not, routine maintenance comes with ownership of a home or condo.  We often grumble about the work.  Friends can’t bear the thought of spending a month painting the house.  The job seems endless and we sometimes transform into what my friend calls a “home-moaner”.

Are you paralyzed by fear about home maintenance?  Alfred Hitchcock gives some tips here.

 

All kidding aside, without proper care costly repairs will sneak up on you and can become an enormous burden.  For example, the unpaned cost of a new roof can a shock to the budget, especially when combined with other expenses such as the holiday or an unforeseen injury.

How to avoid home “moaner” ship?

Set up a schedule for routine maintenance.  Many costly repairs can be avoided by attending to problems before they start.  For instance, extend the life of your roof by regular treatment for moss and clean your gutters so water drains freely to avoid damage to your roof.  Make sure downspouts move water away from your foundation to avoid flooding of basements and crawl spaces.  Especially important in our typical rainy Northwest Fall!

Click here for a copy of a user friendly home maintenance checklist.

Budgeting is key

Make a simple maintenance and replacement budget for the key elements of your property and build up your reserves.  This will show you how much you should set aside each month to avoid unplanned expenses.

It might look something like this:
Budget
For more budgeting tips, click here.

Keeping your property well maintained will allow you to enjoy it more while minimizing unplanned expenses and ultimately allow you to maximize resale value down the line.

Want to talk about other keys to successful property ownership?  Or would you like an annual update on the value of your home?  I’d be happy to take a look for you!

Best Regards,
Domenica
Windermere Real Estate
Categoriesinfo for home owners, taxes

Are Your Property Taxes Based on Market Values?

We usually get a couple of calls each year from clients who receive their property tax assessment notification with an assessed value that is above their market value.  This August, a good client of ours called because her assessed value was at least $50K over her home’s value and she needed some comparable sales to support her case.  This is the second time in 4 years that she has appealed her property taxes, most likely because she owns a home with very small square footage in a nice location (i.e. least expensive house on the block).  I’ve heard that it can be a slow process with a fair amount of “hoop jumping” and patience required, but she was successful the first time around and I am hopeful that she will be successful again.

In my experience, tax assessed values are rarely accurate.  It is actually more common for the values to be lower than market value by about 25% on average.  Although there are plenty of instances where they are above market (usually in view and waterfront areas).  Here is King County’s webpage outlining real estate tax assessments and how they are calculated.  Property taxes pay for important services like our schools, parks, water districts, emergency medical service and fire protection, among others, which are vital to the strength of our neighborhoods.
If you feel your tax assessment is incorrect and you want more information about the process, here are the guidelines for appeal.  We are always available to discuss your home value and help provide you with recent market data if you choose to appeal.
 
 
 
Warm Regards,

Domenica
Windermere Real Estate

Categorieseconomy, financing, info for buyers, info for home owners

Rent vs. Buy

In the market today, we see opportunity for buyers – BIG TIME.  There are so many great homes on the market for buyers to choose from and interest rates continue to hover around 4.25%.  At the same time, we try to temper our enthusiasm about the current market (for buyers) and look at the big picture so we can help our clients make sound choices for their own personal situations.  In researching the topic “Rent vs. Buy” we found sound points in favor of both choices and would like to share with you some of the highlights:

  1. The info-graphic The True Cost of Home-ownership  offers a sobering look at how much it can cost to own a home.  It also outlines the comparison of renting to buying over a 5 year period, showing that at year five the benefits outweigh the costs of owning your own home.
  2. Matthew Gardner, a local Land Use economist, offers his insight into the future of home-ownership by looking at the past, in this recent blog post.  His conclusions are optimistic for our region and he feels there is reason to believe that Seattle will not “over-correct” when it comes to home-ownership.
  3.  This New York Times article offers a framework for analyzing the benefits of rent vs. buy using a concept of “rent ratio: the purchase price of a house divided by the annual cost of renting a similar one”.
  4. Finally, we recommend the calculator tools on freddiemac.com to compare your own situation.  This rent vs. buy calculator is one of the best we’ve found and is an interesting exercise to help you look at your individual situation.

As always, we’d love to participate in your explorations of whether now is the time to buy and we hope you will forward this to your friends who currently rent and are considering their options.
 
 
 
Warm Regards,

Domenica
Windermere Real Estate

Categoriesinfo for buyers, info for home owners, referrals, Seattle

What does your house say about you?

Part of helping our clients in a changing market is to be creative and resourceful about how we prepare and market properties.  We have been exploring the use of Feng Shui in our staging over the last few months and thought we would introduce the woman who has been helping us.  Danielle Varanda, owner of International Feng Shui Design,  has been practicing Feng Shui principals for many years and is offering our clients a special rate for consultations.  If you have interest in improving your space, and your lives, give her a call!

We asked Danielle to give us insight into how Feng Shui principals work in our homes:

“Just as we are all unique individuals, so are the spaces we live in. We tend to gravitate to places that resonate with us and our lives.  Individuals will find some styles of homes more appealing to them then others, and different locations will appeal to different people. For instance, extroverted people tend to live on a more dynamic street and people who are a bit more reserved will often prefer a quiet, calm neighborhood.

 Not only do our homes reflect us in our taste and lifestyle, we can say that our homes nourish us and we nourish our homes. Our space either enhances us or may in some cases hinder us.  Our homes reflect, or could even be the cause of, what is going on in certain aspects of our lives.  For example, how well are things going in our financial affairs?  Do we have enough money coming into our lives?  If so, are we able to hang on to it or does it tend to slip away?  In the area of our health, how well do the people in the house sleep?  Are there health issues with the people who live there? How is the overall energy of the people living in the home?  Are the relationships within the home harmonious or is there often conflict? Did these changes occur after moving or remodeling?”

These and many other things are seen through Feng Shui principals.  When we keep these principals in mind we can literally see why these things are occurring, understand the source of the issues and ultimately offer solutions to improve the situation.”

Danielle recently consulted for one of our listings and we believe her guidance contributed to the successful sale of that home.  If you would like to hear more, or have any questions, just give us a call!

 
 
 
Warm Regards,

Domenica
Windermere Real Estate

Categoriesinfo for buyers, info for home owners

Rent vs Sell

We have recently been talking a lot about the opportunities out there for buyers.  Between rates, prices and inventory we all know it’s a great time to buy.

However, many of our buyers currently own homes.  And sometimes it’s just not the right time to sell your home.  The idea to move forward, buy a home and keep one’s current home as a rental is a common one.  This is a viable option for many, one that we advocate as part of a long term investment plan, but there are some serious considerations involved. One of course is qualifying for financing a second home and the other is that it is important to weigh the real costs of having a rental property.

We recently ran across this article from the National Association of Realtors.  It has a good breakdown of many of the factors to consider.

The Costs of Renting Out Your House
Renting out your house can be a smart financial move, as long as you calculate your costs carefully. Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

If you have been thinking it might be time to make a move please give us a call.  We would be happy to do a complimentary market analysis to help you make the best decision for yourselves and your family.

We enjoy the opportunity to help.  It’s always a pleasure to catch up and see what you’ve done with the place!

Warm Regards,

Domenica
Windermere Real Estate