Category Archives: Des Moines

Getting a Jump On Spring By Listing Now? Here’s a few tips!

Burien, Des Moines, Normandy Park, Real Estate, West Seattle, , , , ,

If you are considering making a move this year and plan on listing in the next few weeks, I have some great tips to make your potential buyers feel more at home. The challenges of winter are many:

·       The sun is lower in the sky and therefore light comes in your home at sometimes-unflattering angles.

·       Deposits from snow, ice, and rain can make the entrance dirty and uninviting.

·       Plants that are dead or dormant can be a challenge for curb appeal.

·       Heating and air intake grates may have a constant flow of air and may be dirty.

·       Homes that have great outdoor spaces may not show as well during cold, dark, or rainy days.

These are just a few issues that can make selling during the winter a challenge. However, there is a lot that you can do to counteract these:

·       Make sure all your windows and outdoor glass is squeaky clean and streak-free. This way, when the sun is low in the sky, light streams through those flawless windows, illuminating the space.

·       Hose down or sweep walkways and decks. Keep them free of excess sand, gravel, and moss.

·       Plant boxwoods or other evergreens to provide curb appeal and mask perennials that won’t look fresh again until spring. Trim back perennials and pull out dead annuals to make your landscaping look neat and trim. Also rake the beds and get rid of all dead leaves.

·       Keep all air grates clean by vacuuming every few weeks. Change your furnace filter. If your home is getting that burned-dust smell, have your ducts professionally cleaned.

·       Maximizing outdoor spaces, even when it is cold and rainy, is a great way for prospective buyers to be excited about the seasons to come and your home’s outdoor living potential. Make sure pots are brimming with evergreens, light outdoor lanterns and landscape lighting, and get some blooming plants in the ground (crocuses, heathers, hellebores, and primroses are good go-to winter bloomers). These steps will make your outdoors showtime-ready.

·       You can also accentuate the warm and cozy aspects of your home by turning on the fireplace, draping an accent throw over the arm of a couch or the back of a chair, drape a throw at the bottom of the bed, and put plush towels in the bathrooms.

·       Make sure the lights are on both inside and outside your home for every showing. Pull back the curtains and open the blinds. Yes, you may be spending more on heating your home with windows uncovered, but you don’t want your home feeling dark and drab.

There are opportunities to be had selling now. Interest rates have started to creep up, so buyers who were disappointed and decided to take some time and regroup may be back in droves, trying to buy before the interest rates increase even more. Questions about your selling strategy? Give me a call at 206-484-2777 and let’s chat. 

Want Top Dollar for Your Home? Great Photography is Key!

Burien, Des Moines, Normandy Park, Real Estate, West Seattle,

When you are ready to sell, one of the most important ways to get top dollar is to get the most buyers into your home. The best way to do that is through amazing, eye-catching photography. Here are some facts that you should keep in mind. In 2016:

  • 51% of buyers found the home they eventually bought via the internet*
  • 95% of buyers used the internet to search for homes*
  • 89% of buyers found photos to be a very useful website feature*

What is the most important information to glean from these stats? Buyers are much more likely to encounter your home online first and then decide whether it is worth an in-person look. And with so much of our time spent online, our decision making has sped up. People are swiping left and right, discarding information they feel doesn’t pertain to their needs at a faster pace than ever before. If your home isn’t photographed in the right light, at the right angles, and highlighting the right features, you may find that your home is left-behind.

Buyers are expecting great photography. Depending on your home, they may even be expecting drone photography, with photos of your home and the surroundings depicting new and unique angles. They may be expecting 3D renderings, video and more. They want to feel like they are touring your home without needing to step foot inside.

Here are the top visual elements you should expect from the agent who is listing your property:

  1. Professional HD photography with attention paid to lighting and vignettes. Only a photographer with training in real estate photographer is going to know what buyers are looking for. An artsy, up-close photo of a lamp that isn’t going to stay with the property isn’t helpful. Photography that showcases the functionality and beauty of a room is.
  2. Using as many photographs as allowed in the MLS. All too often I see listings that are not being served well with fewer than ten photos in the MLS. An agent worth his or her salt will use as many photos as possible to give potential buyers a clear picture of what your property is all about.
  3. Accurate and detailed photo labeling. Is this the same bedroom as the last photo? Does this door go out to the patio or back out to the driveway? Although you may have your floorplan memorized, it can be difficult for others to determine the flow of your home without some direction from the labels that are available in our MLS.

Don’t overlook the importance of great photography when it is time to list your home. I would be happy to provide you with samples of what you can expect when you work with me. Please give me a call or text: (206) 484-2777 or email me at karenwi@johnlscott.com.

*According to the National Association of REALTORS 2016 Profile of Home Buyers and Sellers.

2017 REAL ESTATE PREDICTIONS

Burien, Des Moines, Normandy Park, Real Estate, West Seattle, ,

Each year I take time to review what has happened during the year and to look forward to predict what is in store for real estate.  Below are my predictions for the 2017 real estate market, based on data that was available at the time this was written:

Median Sold Prices  – Home prices will continue to increase nationally by single digit numbers, about 5%. However, urban metro areas with high employment or that are in high demand by Millennials may still see increases at 10% or above. According to the National Association of REALTORS®, October’s national median price for existing single family homes was $232,200, which represented a 6.0% increase over October of 2015 (which was the 56th consecutive month of year over year gains). National inventory shortages coupled with high demand will continue in 2017.

Housing Inventory –  Although there are improvements in this category, it will take more than just a year for the situation to turn around. Our inventory shortage was caused by a shortage of housing starts that began during the recession. We will continue to see inventory challenges until new construction picks up even further. I predict that more buyers will be entering the market for a home as our economy is strong with low unemployment. According to the Bureau of Labor Statistics, the national unemployment rate stands at 4.6% for November, 2016, which is the lowest it has been since August of 2007. High demand and low new construction means a continued inventory crunch.

Housing Starts – Housing starts (the measure of homes that began construction) jumped from 900,000 in 2015 to 1.3 million in 2016. Although this is a welcome increase, it is still not enough to quench the demand. Our country needs about 1.5 million new starts per year to maintain inventory, but since 2009, we have been short a cumulative 5 million units. This is one of the primary causes of our inventory shortage and what is driving prices up – demand outweighs supply. In 2017, I predict that builders will finally surpass the 1.5 million start target and our inventory shortage will begin to wane by mid-2018.

Second Home Markets – Investment and vacation homes markets will continue to be strong in 2017. The passing of wealth from the Silent Generation (1925-1945) to the Baby Boomer Generation (1946-1964) is a strong driver of vacation home purchases. Investment properties are a hot commodity, especially in urban areas where rents are skyrocketing due to a shortage of housing.

Interest rates – The improving economy and almost full national employment is a sure sign that interest rates will continue to increase in 2017. The new rates will balance job growth and higher inflation rates. The Federal Reserve increased interest rates a quarter of a percentage point at its December meeting.  The federal fund rate has a significant effect on mortgage rates. I expect the 30 year fixed rate mortgage rate will reach 4.75% by the end of 2017.

I am excited for what 2017 has in store! For additional information and predictions on our local market or your specific neighborhood, please call or text: 206-484-2777 or send an email to karenwi@johnlscott.com.

 

 

Guide to Buying or Selling During the Holidays

Burien, Des Moines, Normandy Park, Real Estate, West Seattle

Here are a few things to keep in mind if you are buying or selling during the holidays:

Buyers:

  • It can be a great time to buy – With fewer buyers in the market and sellers ready to have closure by year end, there are opportunities to be had during the holidays.
  • Stick to your list of needs –Holiday décor and the smell of baked goods can make a property seem like a better fit than it truly is. Shop smart!
  • Timing –From federal holidays to people being out of the office on vacation, your closing deadline may be delayed. It is best to plan ahead and let your entire team know about your expectations and timeline so everyone can be on the same page.

Sellers:

  • It can be a great time to sell –Buyers are usually serious and ready to buy. There may also be fewer sellers to contend with because some will have taken their homes off the market for the holidays.
  • Going out of town can make home selling easy – It is easiest to show your home if you are not in it. Let me take care of the details!
  • Don’t go too crazy with the holiday décor – Avoid overwhelming clutter during the holidays. You want the space appearing bigger, not smaller.
  • Be clear about your timeline – Think about what a close date between Christmas and New Year’s means for your holiday plans.

If you are thinking about a move, let’s strategize now. Give me a call or text: 206-484-2777 or email: karenwi@johnlscott.com.

 

Preparing Your Home For Fall

Burien, Des Moines, Normandy Park, Real Estate, West Seattle

I cannot believe that fall is upon us! Although we have had a wonderful summer, it is time to begin planning for fall maintenance on your home. The changes in the seasons can be tough for home structures, so to prevent surprises when your home is at its most vulnerable, take a day before autumn takes hold and prepare your home for the months ahead.

Roof and siding

The baking heat of summer can cause materials on your roof and siding to shrink and expand, leaving gaps. Although the solution to remedy these gaps may vary depending on the type of materials your roof and siding consists of, take note of any gaps you see between joints (at seams, between siding and window/door openings, at transitions from wall to roof, etc) or between roofing materials (around skylights, between shingles or tiles, around flashing, etc). These may be easy fixes or it may be time to call in a professional. Keeping water and bugs out and keeping heat in is the name of the game!

Gutters

While you or your roofer are up on the roof, take the time to check your gutters both for debris (which needs to be cleaned out) and structural integrity. Gutters that are in disrepair may not be able to channel water away from your roof and house, so making sure these are in good working order is imperative.

Weather Stripping

Weather stripping around doors also should be looked at in the fall. This is an inexpensive do-it-yourself chore that most people can tackle. Again, you want to keep toasty air in and pests out, so making sure your stripping isn’t too old to be up to the task is a must.

Chimney

Before you begin any fires, have your chimney inspected. According to the Chimney Safety Institute of America, a clean chimney not only helps prevent chimney fires, it also allows flue gases and smoke to travel freely up and out of your home. Chimneys should be inspected annually and clean and repair what is necessary.

Service Furnace

As we are winding down from summer, it may be difficult to think of your actually needing to turn on the heater, but preventative maintenance now is a lot cheaper than an emergency call on a frigid Friday night.

Maintaining your home and preparing it for the fall and winter months not only makes sense from a comfort point of view, it also can save you money in terms of utility costs and can keep the value up when it is time to sell. Please give me a call, text, or email to learn more: 206-484-2777 or  karenwi@johnlscott.com.

Worried About Your House Not Selling?

Burien, Des Moines, Normandy Park, Real Estate,

If you are considering selling your home, you may be wondering how your home will really do in relation to the market. Although our market as a whole has been more favorable to sellers in the last few years, demand for an individual property will vary depending on supply of each particular type of home – price point, amenities, challenges, etc.

For example, if a home is in a higher price point, doesn’t have a garage, has a dated kitchen, is on a steep hill, is a far drive into town, etc., the listing may be affected by lesser demand because there may be fewer buyers who can buy that type of property. Everything about a property that causes the potential buyer pool to shrink must be taken into consideration when determining how to price and market a property. Likewise, homes that are expected to have large demand due to popular floorplans and updates have a wider buyer pool and should also be priced and marketed accordingly.

When you are ready to sell, I will review your home from top to bottom, looking for features that provide value for a potential homebuyer. A finished basement? That increases the value. Spare space in the garage? That will also increase the value.  

I will also look for things that will shrink the buyer pool which will cause a home’s value to decrease. Deferred maintenance, older systems such as an older water heater or furnace, awkward floorplans, a lot of stairs, older roof or even a strange color palette may be more than some buyers want to deal with and therefore, the market price will need to reflect the lesser demand unless these are things that are going to be corrected before a home goes on the market.

It is also important to look at current buyer trends to determine features that might increase or decrease demand for the home. For example, large lawns are starting to go out of favor with certain buyers who want less maintenance and to reduce water consumption, but just a few years ago, they were all the rage. Demand for large home offices and big entertainment centers is also waning with our changes in technology. Have an updated master suite with a steam shower and updated shower heads or smart home technology? These are currently in high demand and the market price should reflect that positively.

Additionally, the new generation of homebuyers (Millennials) have different needs in their homes than previous generations so we can continue to see buyer demand shift in the coming years.

Want to know more about market demand for your particular type and style of home? Just give me a call at (206)484-2777 or send an email to karenwi@johnlscott.com.  I’ll show you how I determine the market value of your home based on supply and demand.

Multiple Offer Strategies for Home Buyers

Burien, Des Moines, Normandy Park, Real Estate, West Seattle,

According to the National Association of REALTORS®, nationwide inventory has declined 3.5% over the last year, creating shortages in many areas. If your target market is in high demand, I can help you create strategies for buying a home that will keep your offer competitive:

  • Strong Purchase Price: Price persuades many sellers. We will evaluate market values in the area to help determine a fair price and counsel you on what you may need to offer to win.
  • Strong Earnest Money: We can discuss the pros and cons of including down payment with your earnest money deposit to reassure sellers that you are not likely to break the contract.
  • Lender Stamp of Approval: Don’t show up with just a pre-approval letter. We may consider asking the lender make a call to the listing agent, advocating your strong financial position.
  • Limit Contingencies: Whether financing, appraisal, inspection or sale-of-existing-home, there are ways to restructure contract contingencies to your situation. For example, sellers may allow buyers to do a “pre-inspection” before making an offer so the buyer feels comfortable waiving the inspection contingency.

Other strategies include negotiating property clean-up, offering to rent back to the seller or having a flexible closing date. If moving is on your calendar this year, please contact me and I’ll create a custom strategy that fits your unique needs. Call or text 206.484.2777or email me at: karenwi@johnlscott.com.

Preparing to Sell in a Fast Market

Burien, Des Moines, Normandy Park, Real Estate, West Seattle, ,

Our real estate market is currently chock-full of opportunities for sellers. Shorter days-on-market, high list to sales price ratios and growing sales prices may have you thinking about your next move. If this sounds like you, the time to begin preparing is now:

STEP 1 – CONTACT ME! Because each neighborhood, style of home, and price point is different, it is important to learn just how hot the demand currently is for your home. If the demand is currently at a very high level this may adjust how much needs to be done to prepare your home and get it on the market. In addition, I want to know where you are moving to which will allow us to strategize and determine what selling and buying looks like financially and timing-wise.

STEP 2 – CLEAN AND POLISH. We will determine together if there are any larger projects that need to be done to get your home on the market, but decluttering, giving your home a deep cleaning, and touching up the curb appeal is critical in ANY market!

STEP 3 – ESTABLISH LISTING WEEK STRATEGY. The week that your home goes on the market will be a very busy one. I will have photos done and once the home is on the market, there may be a number of showings and people through your home. Depending on the anticipated demand for access, you may want to simply leave town for a few days, stay at a friend’s home or even at a hotel. Consider it a mini-vacation!

STEP 4 – DETERMINE PRE-INSPECTION OPTIONS. If demand for your home is going to be strong, some buyers may waive the inspection contingency (the inspection contingency would allow them to back out of the contract if agreement cannot be met on what needs to be fixed ahead of time). Therefore, some buyers may ask to do a pre-inspection before they write an offer. This is done at the buyers’ expense. We can discuss the pros and cons of allowing pre-inspections before we put the home on the market.

STEP 5 – OPEN HOUSE. Depending on where your home is located, an open house allows for a number of potential buyers through at the same time and is a great tool to generate excitement about your home. If I anticipate that the open house will be very busy, I will enlist the help of another agent to assist in crowd control.

STEP 6 – OFFER REVIEW DATE. If I anticipate there will be multiple offers, we can discuss the pros and cons of having a date that lets buyers know when they need to submit an offer by.

Generally speaking, selling your home in a fast market can go much quicker than you might think, so preparing for your move ahead of time will make life much easier when it is time to sign on the line. If this has you thinking, let’s talk! Give me a call or text: 206-484-2777 or email: karenwi@johnlscott.com.

Easements – What Homeowners Need to Know

Burien, Des Moines, Normandy Park, Real Estate, West Seattle, ,

Easements are defined as “a right of use over the property of another” and “a right to cross or otherwise use someone else’s land for a specified purpose”. Easements give their holder a non-possessory interest in another person’s land and they impact all types of real estate. Easements are used for many things including roads, utility and phone companies for the right to bury cables or access utility lines, or even entities such as transportation companies to access things like train lines if a property abuts it.

Easements can be found in the public records for your area and are part of the search the title company performs when determining the clear picture of a property during a real estate transaction. It is important to know what easements are included in a property you are thinking of buying because there are certain setbacks and restrictions that may come with an easement. For example, if you are thinking of buying a property with an easement through the middle of the backyard for the utility company to access utilities in your potential neighbor’s yard, there may be restrictions as to what you can build on the property. You may not be able to put in the swimming pool or shop you were dreaming of in this case.

Easements are even used for conservation preservation and historic preservation purposes.

Despite how common they are many people do not understand easements and the legal problems that can arise in their implementation. While an easement does give the easement holder access rights to access the land, it does not allow the easement holder to occupy the land or interfere with the property use (except as outlined). Easements are usually created by conveyance in a deed or another legal document like a will or contract and they stay with the property until legally removed or it expires. Simply selling a property does not nullify the easement.

Oftentimes the written document that created the easement is unclear or vague. For example, if an easement grants ingress and egress to another property (such as a driveway), but does not determine the width of the easement, that could be a challenge down the road if one of the neighbors wants to make the easement wider or narrower. If you are buying real estate I recommend having any terms such as these clarified during the title review period so there isn’t any confusion once you own the property. The easement intent may need to be clarified by a more in-depth title search or by a court if that information is not available. But remember that courts generally assume that the easement was created to last forever unless a specific timeline was indicated in the document. Therefore when buying a property it is important to make sure the language in the easement is clearly stated.