As you may have heard, some parts of the Puget Sound have seen home prices drop over the past year. Real estate is a long-term investment, so even if there’s been a price drop, you likely still have a great return on your investment.
This table shows the median sales price in Seattle over the last 10 years. As property values increase, so does the equity of your home. That means if you’re thinking of selling, your investment could pay out!
Give me a call at 206-790-0081 or email if you’d like to learn more or would like to know how much your home has appreciated.
When you go to sell your home, you’ll want to know what to price it at. As your real estate broker, I will help you determine the best price.
You’ll get a report that looks at houses similar to yours in size, location and features, whether they’re for sale, have sold, are pending, or failed to sell. Understanding the realities of the current market allows us to accurately assess your home and arrive at a price that properly positions your home for a successful sale.
The real market value of your home is determined when someone tells us what they are willing to pay for your home, you decide to accept that price, and escrow closes!
This may sound odd, but until this event happens, determining market value is really a matter of making an educated guess. Are you kidding, you guess? There are lots of opinions on price, yet only one set of facts. We will examine the facts of record (current, pending, sold, and expired listings) and together we will determine a pricing strategy designed to sell your home for the most money in the shortest period of time.
No one can tell me what my home will sell for? Not really. Someone might tell you a figure but no one knows the market value of your home because it is not established until someone buys it for a specific price. That’s why we use facts of record to determine a pricing strategy. Zestimates, tax assessments, and other automated values are not good estimates of market value – they are, however, pieces of information that can be looked at as part of pricing a home.
Therefore, in pricing a home, we must look at a variety of factors, including recent sales, current listings, homes in contract, location, condition, and amenities. I will gather information on recent and pending sales, as well as active listings, to identify current fair market value. This is a called a Comparative Market Analysis (CMA), and both buyers and sellers will want to have their broker complete a CMA to help them understand price.
Chances are that your home will sell at its fair market value. Pricing it realistically at the outset simply increases the likelihood for a timely sale with less inconveniences and greater monetary return.
Buyers educate themselves by viewing many homes. They know what is a fair price. If your home is not competitive in value with those seen, it will not sell. Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear something is wrong with the home. Often homes on the market for a long time eventually sell for less than fair market value.
80% of the marketing of your home is done the day we decide at what price to list your home. If you are unwilling to list your home at or just below the current market value, you are better served to not put it on the market at all.
It will still sell quickly. While the average days on market in Seattle for a single-family home in July was 26, my Wallingford listing just sold in 7 days with multiple offers.
As you work with your real estate broker to price your home, it’s important to find the sweet spot – that is, the spot that is likely to bring in the most buyers. The sweet spot means you’re in the market, not on the market.
For more information on selling your home or the real estate market, please call me at 206-790-0081 or email Jamie@JamieFlaxman.com.
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.
If you are selling your home during the summer, congratulations! Buyers are usually out in droves during this time of the year. However, this season can be fraught with home showing challenges, so a little bit of preparation now can make a huge difference when you receive an offer on your property. Here are some tips for having your home listed in the summer:
Make your outdoor rooms shine! Whether you have a deck, patio, or some furniture on your lawn, make these outdoor rooms inviting during the season when they will be used the most. Investing in new chair cushions and some bright flowers for your outdoor spaces can go a long way. If you have outdoor lights, make sure all the light bulbs are in working order.
Keep your air conditioning constant. There is nothing worse than having your air conditioner go out when your home is on the market with potential buyers coming in and out. Have your air conditioning unit serviced before your home goes on the market to help prevent this kind of sticky situation. Additionally, keep your home under 75 degrees, even when you are not at home. You never know when potential buyers are going to come through and you want their home viewing experience to be a good and comfortable one. Keep the air circulating with the fan that is built into your heating and cooling system if possible to keep stale air from building up.
Contain the smells. Heat and humidity can cause smells to become amplified, turning off buyers. Clean out those cabinets, take out garbage twice a day, run citrus down the garbage disposal, keep your fridge cleaned of old and fragrant food, make sure your pets are clean, and your carpets are fresh.
Water those plants! No one wants to see droopy, thirsty plants. Make sure you keep them watered. Since water can be scarce in the summer, you may need to invest in a timer that waters at night when there evaporation is not as much of an issue as it is during the day. If you have hanging baskets and planters, watering daily is critical.
Mow the lawn. Twice a week when it is at peak growing season.
Be on the lookout for pests – Wasps, mosquitoes, ants and other insects can be out in droves this time of year. Make sure you patrol your property at least a couple of times per week to be on the lookout for flare ups.
Summer listings can be very hot indeed! If you are planning on listing your home this summer, the time to prepare is now. Please give me a call at (206) 790-0081 or send an email to firstname.lastname@example.org to make an appointment with me to learn about the ins and outs of having your home listed this season.