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Selling Your Home in the Winter

Many prospective sellers feel they should wait for spring to sell their home. They feel this way because of the seasonal downturn in the market and because homes don’t look as good without exterior flowers and plants and the general grayness of our part of the country. However, there are several good reasons to list your home during the winter. The most serious buyers will still be out there – those that need to buy because of job relocation or need different space. And inventory is at it’s lowest, giving buyers fewer choices, so your home will stand out more. Mortgage rates are increasing, so buyers may have greater buying power earlier in the year.

To sell your home in the winter, there are some key things to do. Keep your home warm and cozy – buyers need to be comfortable when they come in the house and the warmer it is, the more likely they’ll stay longer. Leave lights on and shades open to keep the home bright. Make sure the yard stays neat and the roof is clean. Stage the home and have professional photographs that show off the home at its best.

Thinking about listing your home this winter or spring. Give me a call at 206-790-0081 or email to discuss a complimentary market analysis and marketing plan for your home.

Halloween Events and Activities

It’s the time of year when the kids (and adults) dress up in fun costumes and go door to door collecting candy. Here are a few of my favorite neighborhood Halloween activities and not all involve candy.

Edmonds Halloween Extravaganza

Looking for something fun to do with the kids this Halloween. Come to the Coldwell Banker Bain Edmonds office on Sunday, October 28th, 10a-1p, for pumpkin carving and other Halloween activities. This is followed at 1:00 by a no-charge admission movie at the Edmonds Theatre where we’ll be showing Scooby Doo and the Witch’s Ghost.

Location: 108 5th Ave. S, Edmonds.

Trick or Treating

Phinney Ridge/Greenwood: On Saturday, October 27 from 12-3, visit for Trick or Treat for a cause! Children are welcome to trick or treat at participating businesses and encouraged to donate $2 or a non-perishable food item for the FamilyWorks Greenwood Food Bank to help families in need. Look for donation stations along Phinney/Greenwood, and Hunger Goblin’ posters marking businesses with treats (or tricks!).

Edmonds: Come to downtown Edmonds on October 31, Halloween, from 5:00-7:00 for trick or treating and a costume contest.

Edmonds Scarecrow Festival:The Coldwell Banker Bain Edmonds office participates in Edmonds’ annual Scarecrow Festival. This year our office decided to create our scarecrow based on the fact that October is Breast Cancer Awareness Month. The scarecrow, themed “Save Our Pumpkins,” is in the window of our office at 108 5th Ave S. Stop by and check it out, and also walk around and see the other creative scarecrows around town. Voting for the best scarecrow runs from October 16 to November 2, please go to https://scf.historicedmonds.org/register-vote/ and vote for our scarecrow which is in the Financial/Insurance/Real Estate category. We are accepting donations for the American Cancer Society during regular office hours.

 

 

 

 

 

 

 

Vote for Our Scarecrow

Edmonds has an annual Scarecrow Festival and the Edmonds Coldwell Banker Bain office needs your votes.In honor of breast cancer awareness month, our scarecrow is named SAVE OUR PUMPKINS. In addition to the scarecrow, we have information in our office on breast cancer and we are collecting donations for the American Cancer Society. Stop by the office to see the scarecrow and pick up information/make a donation at 108 5th Ave S, Edmonds.

Voting for the scarecrows begins on Tuesday, November 16 and runs through November 2. Here’s the link to vote: https://scf.historicedmonds.org/register-vote/. You will need to scroll down to the Financial/Insurance/Real Estate Business category.

Please share this with your friends, family, and colleagues.

 

What a Cutie!

 

 

 

 

What a cutie! Adorable 2-bedroom rambler in Seattle’s Maple Leaf neighborhood is now on the market for $575,000.

My colleague Andrea Fjortoft and I invite you to join us at one of three open houses or to check out the listing online.

Imagine the possibilities here – great condo alternative or bring your contractor to discuss options for building up or remodeling. This home offers 2 large bedrooms, one with an office area and large walk-in closet, and a full bath. Large living and dining rooms and the kitchen has a breakfast bar. Tons of natural light. Terraced, fully-fenced backyard including a pear tree and room for outdoor activities. Very quiet street.  Easy access to I-5, Northgate transit center, University of Washington, Sand Point, and future Northgate and Roosevelt light rail stations.

Quick Facts:

  • 2 bedroom, 1 full bathroom
  • 1,110 sq. ft.
  • 5,413 sq. ft. lot
  • Built in 1941
  • One car attached garage
  • Forced air gas heat
  • 2018 property taxes of $4,720

Open House Schedule:

  • Wednesday, October 10, 10am-Noon (hosted by Jamie and Andrea)
  • Saturday, October 13, Noon-3:00pm (hosted by Andrea)
  • Sunday, October 14, 1:00-4:00pm (hosted by Jamie)

Check out all the photos.

Download a flyer.

Contact us for a private tour or for more information:

Jamie Flaxman, Jamie@JamieFlaxman.com, 206-790-0081

Andrea Fjortoft, Andrea@FjortoftHomes.com, 206-369-6982

 

 

 

Market Update

The Puget Sound area real estate market has shown a shift over the past few months, and we’re moving toward what is considered a balanced market. A balanced market is one that does not favor the buyer or the seller and is the healthiest possible situation. Typically, a balanced market is considered one with 4 to 6 months of inventory; less than that favors the seller, more than that favors the buyer. Here are some selected inventory levels for September:

Inventory in Months King County Seattle Snohomish County Edmonds
Single Family Homes 3.0 2.9 2.4 2.8
Condos 2.9 3.9 1.7 1.3

Moving toward a balanced market is a good trend. It puts both buyers and sellers on equal footing. Mike Grady, COO of Coldwell Banker Bain, states “buyers are at long last now seeing properties that stay on the market longer. Listings that are priced appropriately, and not based on the feverish market we saw just a few months ago are still selling quickly, and home prices are still showing 8 percent appreciation year-over-year, more than double the rate of inflation.”

What does this mean to you if you’re considering selling your home? Homes are selling if they are priced properly. More than ever it means you need an experienced REALTOR who will provide you with a detailed pricing analysis based on what is happening in today’s market, not on sales from even 3 or 6 months ago. And automated values are even less reliable than they have been because they may not reflect what is happening today. When I work with a seller, I give you a detailed report and recommendation and update this report frequently to adjust for market change.

If you’re a buyer, this is a fabulous time to get in the market. With prices stabilizing and interest rates increasing, waiting might be not be a good idea. What you can afford today might be less than what you can afford next year. I can provide you with recommendations of lenders who can help you determine what your buying power is. Additionally, with the market becoming more balanced, the need for pre-inspections and waiving of contingencies is passing.

I’d love to talk with you about the market in your neighborhood and why now might be the time for you to buy or sell. Give me a call/text at (206) 790-0081 or email Jamie@JamieFlaxman.com to set up a time to chat.

 

 

 

Downsizing 2.0

It’s time for another story of downsizing, this time the story of Judith.

Judith and I met a couple years ago when she came to a class I was teaching at the Phinney Neighborhood Association. The class was on the steps and process of selling a home. She came up to me after the class to talk about her situation. She owned a one-bedroom home in the Ravenna neighborhood of Seattle which she purchased as a foreclosure in 1975 for around $12,000. She and her partner Kurt were wanting to sell this home and downsize into a condo with no steps involved.  She mentioned that they had been looking at condos for around 15 years and hadn’t seen much that they liked. She was also concerned about the amount she would have to pay in capital gains taxes.

For the next year or two, we looked at a lot of condos, but given her budget and specific needs we weren’t finding anything she liked. This past February we did, and she submitted an offer on a Bitter Lake condo, but was outbid. We kept looking.

This summer she was encouraged to look at a lovely unit at the Sequoyah in Edmonds. She hadn’t wanted to leave Seattle but she was willing to look. While it was further away than she wanted, she had worked in Edmonds for many years so she was comfortable with the area. After seeing the condo and realizing it had everything she wanted and more, we submitted an offer and she got this unit.

She purchased the condo contingent on the sale of her house, so we had to immediately list. Many real estate brokers feel late August is not the time to bring a home on the market but we decided to do so anyway. Three days on the market and we had an offer significantly over list price.

The buyers of her home allowed for Judith to stay in the house for a couple months if needed. The condo she was buying would not be available until the end of September so Judith’s plan is to move in October. She was able to have her purchase funds sent directly from the first escrow company to the second escrow company. Judith has put aside enough funds to cover her estimated capital gains taxes.

For me as her real estate broker, I was so happy to help her move out of the house and into the condo. She loved her house and was sad to be leaving it but is very excited to be moving on with her life. These transactions involved of juggling, and that’s what I’m good at – I was able to ensure that both transactions closed without any issues.

Congratulations Judith and Kurt!

The transaction details.

House listed for sale August 24th for $590,000. 3 days on market. Sold for $617,000. Closed September 17th.

 

 

 

 

 

Condo purchase closed October 1st for $385,000.Condo purchase closed October 1st for $385,000.

I’m an SRES

What’s an SRES you may ask. It’s a Seniors Real Estate Specialist. As a SRES, I have received extensive education in working with people aged 50 and older in preparing and selling their home. I have the knowledge and expertise to counsel you through the major financial and lifestyle transitions involved in downsizing, relocating, and selling the home you have owned for decades. I offer you the opportunity to complete your real estate transaction with the patience, professionalism, and expertise you deserve.

For many people, they know it’s time to sell their home but the thought of moving and selling is overwhelming physically and emotionally. Here is where an SRES can step in and help. I have access to resources to help you with this major transition and will be there with you through all steps of the selling and moving process.

There are many reasons that you may be considering a move.

  • The cost of maintaining your home has become too high.
  • You want to be closer to your children and grandchildren.
  • Your home no longer meets your accessibility needs.
  • Your home is more home than you currently need.

Whether you’re looking to move to an active 55+ community, a senior-supported living situation, a smaller house, or a condo, I am here to help. I have worked with many sellers who have made such moves and understand how difficult this can be.

Give me a call at 206-790-0081 or email me at Jamie@JamieFlaxman.com and let’s talk about how I can be of help.

 

Market Update

Home shoppers in Western Washington can choose from the largest supply of homes in three years and they are facing fewer bidding wars. August statistics from the Northwest Multiple Listing Service show prices appear to be moderating (up about 6.7 percent overall), but brokers say they are not bracing for a bubble, or even anticipating a quick shift to a buyers’ market. “There have been incremental increases in listing inventory the past few months,” noted Gary O’Leyar, the designated broker/owner at Berkshire Hathaway HomeServices Signature Properties, but, he added, “By no means have inventory levels reached a point that is deemed to be a balanced market.” Prices were down in August but are still up from 2017.

If you’re thinking of buying, this is the time to get pre-approved and start your buying process. If you’re a seller, I’d be moving quickly to get your home on the market while prices are still at the peak. Please call me at 206-790-0081 or email me at Jamie@JamieFlaxman.com to discuss your real estate needs.

 

A Downsizing Story

Pete and Jody contacted me early this summer about selling their family home on Phinney Ridge. I’ve known Pete and Jody for many years as we were former neighbors and they wanted to work with someone they knew.

Jody and Pete’s Phinney Home

When I say family home, I mean it. Pete’s parents had bought the house about 80 years ago, and approximately 40 years ago Pete bought it from his parents. Pete and Jody raised their family in this lovely craftsman. They had made many updates over the years, and had particularly loved designing the beautifully landscaped yard and the 2-car garage where in his free time Pete worked on his cars.

But it was time to downsize. The house had too many stairs and was too much work to maintain. The property tax bill had become too high for retirees on a fixed income and they no longer wanted to live in Seattle.

Pete and Jody went exploring where they wanted to live and found a 55+ community in Mount Vernon that met all their needs. It was quiet. It was new construction. It was all on one floor, no stairs to even get into the house. The yard allowed for Jody to continue her love of gardening but was not too large. The house they wanted was already completed, but they would need to sell their Phinney home before they could purchase in Mount Vernon. I was able to negotiate with the seller of the Mount Vernon home for a longer closing period, to give Jody and Pete time to sell their Seattle house.

Jody and Pete’s Mount Vernon home

I recommended some minor repairs to their Seattle home before listing and we had the house staged. Jody and Pete worked hard at packing up 40 years of life, giving many items away, and having a mega-garage sale. It was hard work, but they had the house ready almost a week before our target list date. Jody and Pete’s Phinney home came on the market on August 5, and by August 11 we had two offers.

Both homes closed last week, Phinney on Thursday and Mount Vernon on Friday. Pete and Jody will be moving into their new home over the next few weeks. It was such a joy to call Jody and Pete on Friday and tell them that they were the owners of the home in Mount Vernon. Congratulations!!! May you have many, many years of love and laughter in your new home.

Home Facts

Phinney home, listed for $895,000, sold for $890,000, 6 days on market

Mount Vernon home, listed and sold for $459,900, 79 days on market

Monday Market Report

The media has been saying “the market is slowing down.” So have my colleagues. I even said a few weeks ago that we’re seeing a market adjustment. But this is not what I’m seeing right now.

I had 2 open houses this weekend on my new Ravenna listing and both were packed. I expect we may see multiple offers or even take an offer early.

Buyer clients of mine went to an open house yesterday in Bothell. They said it was busy. When I spoke with the broker for that listing last night, he said he had 90 people through on Saturday and around 50 on Sunday. And that’s in Bothell.

Buyers are out there for your home. There’s no need to wait until after Labor Day. Usually the last 2 weeks of August are slow in Seattle, but not this year. Maybe because of the smoke and weather change people are coming out. Maybe because interest rates dropped a tiny bit last week. I don’t know why but the market is very active right now.

I expect we’ll see an influx of listings after Labor Day. Talk to me soon if you’re interested in buying or selling a property.