Category Archives: Normandy Park
Normandy Park Market Update
Just Listed In Normandy Park
Wonderful 4 bedroom, 2.5 bath home in the heart of Normandy Park. Listed at $635,000. More information at www.johnlscott.com/78966.
Normandy Park Housing Statistics
Call me if you want to know more!
Why You Need A Local Expert
When it comes to buying or selling what is likely your biggest asset, it pays to have a real estate agent who is not only a professional, but who also has the local expertise to help make sure you are investing your money wisely and that your investment will pay off when it is time to sell.
Here are just some of the items that an agent with local expertise can provide you:
- Information on possible zoning changes and how those might impact future value
- Historical market appreciation or depreciation data
- Data on local amenities and services
- School information
- Information on upcoming local improvements to streets and thoroughfares
- Information on big housing or commercial developments on the horizon
- Updates on businesses moving in or out of the area
- Information on trends such as population growth
- Data on regional economic trends as these can have a strong impact on the demand for housing
- Market information such as listings, pendings, and sold properties
- Up-to-date notifications of new listings and solds in the neighborhood, and how the updated sold information can affect the value of your property
- What your neighbors are doing to remodel their homes and how those changes can help their bottom line when it comes time to sell
- Information on how property taxes are assessed and the relationships between assessed value and sold values
- Information on developed and undeveloped land in the neighborhood, and what may be built on those.
- Traffic trends information
And so much more! A local expert truly understands the special nuances of the different neighborhoods – such as those special pockets of parks and trails, the historic homes or businesses and their significance, or important events that have occurred there.
As much as people buy homes, they also buy areas. It is rare that one can buy a home and have it relocated, so it is important to have an appreciation for an area before one buys a home there. And when it comes time to sell, it pays to have an agent listing the home who can explain all the benefits of your home, not just what is behind your walls.
It is easy to hire a generalist in real estate, but remember, we hire medical specialists when we have a unique diagnosis and your asset should get the same specialist treatment. I would be more than happy to provide you with local information and how the changes I have seen affects your home value. Please let me know how I, YOUR local expert, can be of service. Give me a call or text: (206) 484-2777 or email: karenwi@johnlscott.com.
The Holidays are a GREAT Time to Buy or Sell
Many sellers take their homes off the market for the holidays and buyers who have been out looking all year may take the rest of the year off. So why would it be a great time to buy or sell if there are fewer buyers and sellers in the market? For a lot of reasons:
Less competition for both buyers and sellers – Less competition benefits both buyers and sellers. Fewer homes on the market means homes that are listed will be noticed by buyers (which is great for sellers!). And with fewer buyers in the market, that means less competition for those homes (which is great for buyers!). Especially in markets with very high buyer demand coupled with multiple offers, a holiday lull may be just the break that buyers need to make an offer and get a house under contract.
Motivated buyers and sellers – People who buy or sell during the holidays have a different mindset. They aren’t looky-loos or sellers just trying to test the market. Buyers and sellers have a goal and are serious about the process. Take a look at it from both sides: if you are a seller, wouldn’t you want to work with a buyer who is pre-approved, knows what market price is and ready to buy? If you are a buyer, wouldn’t you prefer to work with a seller who has priced their home at market and is ready to negotiate?
Buyers are pressed for time – Searching for homes can take a lot of time! But competition for that time from other holiday activities means that home searches are usually much more efficient and buyers are ready to make a decision quicker. Both sides may be less willing to drag negotiations out for fear of interfering with holiday plans.
Getting your next move squared away before the end of the year – The looming New Year’s date is often a great motivator on both sides as people want to have their plan in place before the calendar changes to a new year.
Holiday décor – Some homes show best when all decked out for the holidays! Full of light and greenery, homes that exude coziness can really stand out to nostalgic and motivated homebuyers.
Everyone is motivated to close – From lenders, inspectors, closers and more, getting your transaction done by the end of the year (if possible and as per the purchase and sale agreement) is important to all involved! And, with fewer transactions competing for their time, the fewer hang-ups there may be!
South King County Housing Update
Normandy Park Third Quarter Real Estate Report
The fall colors in Normandy Park are so beautiful right now! My dogs and I have been enjoying this gorgeous time of year on our daily walks through the neighborhood.
With the changes in the leaves, comes a slight shift in our real estate market. The summer “frenzy” has ended but there’s still a shortage of quality homes on the market and quite a few motivated buyers still looking for a home! Here’s a brief recap of the Third Quarter Real Estate Statistics for Normandy Park:
Median Sales Price: $682,500 – That’s up 11% over the third quarter last year!
Number of Homes Sold: 26
Average Day on Market: 34
Price Per Square Foot: $232
If you have questions about real estate in Normandy Park, please give me a call. I’d love to talk with you.
Enjoy this beautiful time of year and I hope to see you out walking in the park soon.
Community Salmon Investigation
Community Salmon Investigation (CSI) is in full swing in our neighborhood creeks. Volunteers are counting live fish and collecting data on the dead fish. Sadly, storm water run off is killing an estimated 40% of the Coho before they’re able to spawn in our Puget Sound Creeks. Learn more here:
Homeowners Insurance – Are You Covered?
In light of the recent hurricanes that have ravaged the East Coast, the earthquake that decimated parts of Mexico and wildfires in the West that are burning up homes and businesses, it seems like a good time to check in with your insurance agent to review your policy and determine if there are holes. Here are some questions to guide that conversation:
How am I covered in the case of water damage? Water from a natural disaster is usually treated differently than water damage from typical weather. Ask questions around the different types of water damage your home might sustain so you understand what you are and are not covered for.
How am I covered in the case of wind damage? Does your insurance company treat a tree falling on your roof differently than the wind ripping the roof off? Think about the different wind events that might befall your property and ask questions.
Am I covered in case of an earthquake? It might surprise you to know that most policies do not cover earthquake damage, but often you can get coverage added on.
What happens if my belongings get damaged? Most insurance will cover your belongings in the home if they are damaged, but what about your lawn furniture and BBQ?
What are the holes you see in this policy? Your agent has probably seen a number of claims so it will be easy for them to see some typical issues that are not covered by their policy. Some may have additional coverage that you can get but in some cases, you will need to cover these items yourself (such as landscaping damage).
Your home is likely your most valuable asset! Don’t let a disaster drain your equity. Get smart about your homeowners insurance and protect your investments.