If you’re thinking of selling your home, I’ve got a class for you. I’ll be offering it twice in June.
Class description: Are you considering selling your home? If yes, this class will help you understand the current real estate market as well as learning what type of preparation is necessary and tips on downsizing. Jamie Flaxman is a real estate broker with Coldwell Banker Bain and is a Seniors Real Estate Specialist.
Tuesday, June 18 at Aegis at Callahan House in Shoreline, from 12:00-1:00, lunch included. Contact Jason Baker at (206) 452-0285 to reserve a spot or contact me at (206) 790-0081 or firstname.lastname@example.org for more information.
Do you have a group where you’d like this class presented? Let me know. Or if you’re unable to attend either of these dates but would like to learn more about the selling process, give me a call/email to discuss your needs.
This article comes from the materials I hand out and discuss at my “Tips for Selling Your Home Class.” If you’d like to learn more or attend a class, the next class is Friday, June 7th at the Greenwood Senior Center. Contact me for more information or to attend.
Need help with organizing and decluttering? A recommendation for a painter or a roofer? Most real estate brokers have a list of vendors who can help you with these activities. Additionally, some brokers, like myself, have taken classes in staging, and have materials that can help such as lists of places to donate or sell items. Just tell your broker what you need.
Thinking of moving to a smaller space or even a tiny home? While it is true that by liberating ourselves of extra space can open the door to lower costs (mortgage, utilities, property taxes, and repairs), for many the thought of having to downsize their belongings in order to fit in more closed-quarters is prohibitive. If you have been thinking about downsizing, here are some ways you can get the ball rolling without it seeming overwhelming:
Lifestyle Analysis – First review how your life is going to change after you downsize. If you are retiring, there may be many work-related items that no longer need to clutter your closet! Suits, jackets, shoes, purses, etc., that served you in a professional capacity may be the first to go into the donate or sell piles. If you are moving to a warmer climate, perhaps you should rethink your winter wardrobe. Moving to a condo and don’t plan on utilizing your green thumb? Consider your garden and lawn tools and supplies. Entire categories of things can be the first to go.
Space Analysis – Think about the space and functionality of the rooms you are moving to. If you don’t have a guestroom at your new place, then perhaps you don’t shouldn’t bring that entire room of items. If you are downsizing your kitchen to half of what you have now, then half of what you currently have will need to find another home. Think about your largest furniture pieces as well. Do you have room for a pool table? Also consider scale of furniture – sectionals and large dining room tables may be just too large proportionally for the rooms you will have.
Functionality Analysis – How many pans do you really cook with on a regular basis? How many mixing bowls do you really need at once? How many pairs of socks? So often we keep something around because we perceive that we need it, but you likely only use a few items in your home on a regular basis. When was the last time you made pasta from scratch or used all your towels? Downsizing means choosing, so choose wisely!
Memorabilia Analysis – This is a tough one because it means choosing among things that are cherished. Yearbooks, photos, letters, keepsakes, children’s artwork, etc., all fall into this category. As we get older, this problem becomes more pronounced as we inherit and become stewards of other people’s items. One idea is to digitize items – as files on a computer you still have the items but they take up less physical space.
This category of items is just too painful for some people to have to go through and make choices for fear of making a mistake. If this sounds like you, then perhaps your best bet is to get a storage unit and put those items in there. I do recommend that you let someone else know about the unit in the event something happens to you so that these items stay in the family.
Most people dread the thought of moving, yet those same people love it when they move. Why? Most likely it’s emotional attachment and nostalgia for a beloved home. It’s understandable but yet a home that just doesn’t fit your needs any longer can make even the most loved home uncomfortable. Are you wondering if it’s time to move? Here are 6 telltale signs that you should consider putting the “for sale” sign up in your front yard.
1. Your Home is Too Small – One of the most common signs is that you’ve outgrown your home.
2. Your Home is Too Large – Life changes! Empty nesters often find the home too large and it’s maintenance too much when they finally have time to travel and relax.
3. Your Home is Too Expensive – Are you spending all your extra cash making repairs or do you want major upgrades to suit your lifestyle? Are property taxes getting too high?
4. The Neighborhood is Losing Value – Neighborhoods do change over time, if yours is declining consider a move.
5. Changing the Weather – Have you finally tired of shoveling snow? A move to a warmer state could be the right move.
6. Change is Good – The last great reason to move is to try something new. Different style or location, if the home isn’t making you happy any longer, time to move.
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.
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.