Year over year median sales price was up 19% in Normandy Park last year. The 2019 housing market is positioned for another active year. However, we expect the home price appreciation pace to be more moderate than we have seen in previous years.
Tag Archives: Homes for Sale in 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!
Get Ready to Sell Check List
If you are thinking of selling in the next few weeks, or even months from now, there are things you should do to get your home into tip-top shape. Here is a list of the most common items that I check when getting a home ready to sell:
· Review walls and ceilings for small cracks. Repair these throughout. If there are larger cracks in the ceiling, walls, foundation, or driveway, these might be a sign of a problem that you may want to look at or fix before coming on the market.
· Check the paint in each room. If the rooms need to be freshened up, paint is one of the cheapest ways to have big impact.
· Wipe down all baseboards and trim. If there are scuffs, dents, or marks, if your trim has a wood look, you can touch up the stain and if they are painted and the scuffs won’t come off, you may need to touch up the paint.
· Make sure your ceiling is free of cobwebs and dust.
· Clean all vents.
· In the kitchen, cabinets (both inside and the doors) need a cleaning. I encourage sellers to declutter while they are at it. Buyers will look inside the cabinets, so I recommend boxing up the extra dishes, Tupperware, and spices while you are cleaning and making the insides nice and neat.
· While you are in the kitchen, clean and tidy up the fridge. Again, less is more, so use up or toss all those extra salad dressing containers, mustard, and hot sauce packets.
· Give appliances a thorough cleaning including the inside of the stove, the stovetop, grease traps, vacuum the back of the fridge, etc.
· Remove all the papers and magnets that might be on the fridge.
· Kitchen counters seem to attract a lot of clutter. I recommend clearing everything off and only putting back a few things that you are going to need for the next 90 days and that aren’t visually distracting. For example, you might need a toaster and a coffee maker. As long as those look neat and in working order, they can stay. But don’t leave a can of coffee on the counter. That goes in a cabinet.
· The same type of cleaning you did in the kitchen cabinets need to be done in the bathroom. Clean out all drawers and cabinets and only replace what you need in the next 90 days. Remove everything from the bathroom counters except for soap or nicely-organized jars with Q-tips and cotton balls. Everything else should be stowed in cabinets neatly.
· Edit your shower collection of shampoos, conditioner, body soap, etc, to only one bottle of each and remove extra razors and scrub brushes.
· Edit your towels to a single color that enhances the bathroom décor and make sure all family members know how to hang up the towels properly after use.
· Check tile grout and replace if necessary. Do the same with the caulk.
· Clean the bathroom fan.
· Clean out the shower and tub drains.
· Check all the light fixtures in the house to make sure they are working property and to replace all burned out bulbs.
· While you are doing that, check each light switch and clean the switchplates. You can also make sure that the plates for the outlets are in good working order.
· Service the furnace and water heater. If you live in a rural area, it might be a good idea to have the septic inspected as well, although rules in different areas may affect when exactly you want to do this.
· Usually I suggest that carpets get cleaned.
· If wood floors are scuffed up, they may need to be refinished.
· Clean all blinds and window treatments.
· Clean out the fireplace and have the chimney inspected. Stage a log or two in the fireplace if you like. Clean glass doors and remove excess materials from the hearth and mantel.
· Review your houseplant situation. Any that are barely hanging on should be removed or replaced.
· Wash all windows and outside doors and make sure they slide freely. You may want to replace all windows that have a broken seal.
· Analyze each room to make sure the function is clear. Any items that don’t support that function should be removed. For example, if in the master bedroom, there is workout equipment, a desk with piles of paperwork, and a dog crate, I would suggest removing the workout equipment, dog crate, and packaging up the paperwork. We want a nice, calm space.
· While you are analyzing each room, declutter as much as possible. That means removing extra artwork that is cluttering up the walls, removing family tchotchkes and photography, and removing collections of things. For example, if you have collections of plates, Star Trek memorabilia, bells, etc, I suggest packing those up so the buyers can picture themselves in your home.
· If you have kids, getting the house ready to sell can provide you with a great opportunity to go through their toys and clothes and get rid of things they have outgrown. Since toys can create a lot of clutter, give them a choice of perhaps 10 things they can keep while the home is on the market, and then make sure they know how to put those away when they are done playing.
· Is anything broken or in need of repair? Believe it or not, the cost to fix these items now may be less than the perceived value the buyer may put on disrepair when making an offer. If your dog has scratched up a door beyond repair, there are deck boards broken, or a kitchen door is missing a handle, get it fixed before the home goes on the market. We want the buyers to feel that your home is well-taken care of.
· If there is a challenge with odors in your home, you can possibly use room deodorants or disinfectant sprays (but beware that some buyers are sensitive to these so don’t overuse). There are also products out there specially-designed to handle pet odors and you may want to rent an ozone system if the smell cannot be otherwise overcome or identified.
· If the weather has done some damage to your home outside, repainting and caulking the seams is a good plan.
· Make sure the front door looks especially, clean, freshly painted if applicable, and inviting.
· Verify decks and railing are in good repair and are freshly stained and/or painted.
· Get the roof cleaned of moss and dust and make sure there are no issues that should be addressed before the home goes on the market.
· Clean the gutters.
· Remove webs and bird droppings from eaves.
· Pressure-wash all cement surfaces such as driveways and walkways.
· Prune plants and trees so there is at least six inches or more of space between the plant and the house.
· Prune or remove plants that are partially dead or don’t look great and make sure to deadhead all dead flowers.
· If your trees need work, such as removing dead branches, go ahead and get this taken care of.
· Determine if mulch (bark, rocks, etc) needs to be replaced and do so.
· Make sure all container plants and pots look fresh and organized neatly.
· Areas that are graveled may need a fresh coat of gravel.
· Wind up the hose neatly.
· Keep the grass trimmed neatly. If there are bare patches, cultivate some grass and keep it green.
· Apply the same decluttering principles to the deck and outdoor living spaces. If furniture and décor is mismatched, this will distract the buyer.
· Make sure outdoor furniture cushions are cleaned. Add a pop of color with outdoor pillows, freshly-potted plants, and hanging baskets.
· Clean the BBQ.
· Make sure garage door opener works.
· Remove excess clutter from garage. Belongings should be neatly organized on racks or in cabinets wherever possible.
· Clean the garage. Keep the floor swept. Depending on what you have in the garage, some people will use a leaf blower to clean out dust that is sitting on belongings and in corners.
· If applicable, make sure crawl space under the house is clear of garbage, pests, etc. We may want to put down new plastic sheeting on the ground if needed.
· And of course, give your home a thorough cleaning!
There may be additional custom items for your home that need to be added to this list. Although this may seem overwhelming, addressing each item will bring in more potential buyers. If you are ready for your custom plan, give me a call: 206-484-2777or email: karenwi@johnlscott.com.
Getting a Jump On Spring By Listing Now? Here’s a few tips!
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.
2017 REAL ESTATE PREDICTIONS
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.
Cold Weather Ahead – Time To Protect Your Pipes
With cold temperatures – and even some snow! – in the forecast, it’s time to make sure you and your home are prepared to weather whatever Mother Nature sends our way. Seattle Public Utilities Offers these Tips
Prep Your Pipes
Freezing temperatures can burst water pipes around your home, potentially causing serious property damage and wasting large amounts of water. Follow these tips to prepare your pipes for the cold;
- Insulate outdoor pipes and faucets to keep them from freezing.
- Disconnect garden hoses.
- When the temperature hits freezing, open cabinet doors to allow heat to get to un-insulated pipes under sinks and near exterior walls.
- Insulate pipes in your home’s crawl space, attic, or basement.
For more information on preparing for winter weather, visit Seattle Public Utilities at www.takewinterbystorm.org.
Real Estate In The News…
HERE’S WHAT WE’RE TALKING ABOUT:
-Will our historically low interest rates finally start to move upward? The recent US jobs report, paired with European Central Banking news has some experts thinking the Fed will finally start to increase interest rates in December.
Housing inventory is slowly increasing throughout King County providing some relief to buyers. Local real estate agents have mixed feelings about the news. Some see it as a normal seasonal slow down others as a slight shifting in the market. Either way, we’re still one of the hottest markets in the country.
Residential rents are rising faster in Seattle than anywhere in the U.S. according to Zillow. Neighboring cities including Shoreline, Burien, Renton and Vashon have also seen 10.5%-14% increases in rental prices since August of 2015.
Puget Sound Real Estate In the News
Here’s the latest on our Sizzling Hot Real Estate Market
Washington home prices rose 10.6% in April compared to a year ago. It was the biggest jump of any state in the nation for the third month in a row. Home prices in Washington are growing at a rate nearly double the national average. -CoreLogic
Buyers are paying a premium to live in neighborhoods near a Light Rail transit hub according to Seattle Based Real Estate Company, Estately. We’ll vote on Sound Transit’s Light Rail Expansion in November.
Rock Star Steve Miller has just listed his home in the San Juans for $16.8 million. Yep – it comes with a recording studio!
Call me if I can help with your Real Estate needs!