Real Estate March 15, 2023

7 Ways to Make Life Easier When Selling Your Home

When it’s time to sell a home, we all dream of a flawlessly executed transaction where everything goes smoothly and ends with a win-win for you and the buyer. Here are seven tips to help make that happen—and avoid surprise expenses along the way…

1. Repair Your Home First

Making repairs to your home before you sell not only makes it more appealing to buyers, but it can also help you avoid the additional costs that can result from the buyer’s inspection. Disclosing any repairs that still need to be made will help you move smoothly to closing and avoid problems that could otherwise kill the deal. Consider conducting a pre-listing inspection to make sure everything is out in the open before you sell.

2. Make Sure Your Price is Right

The key to selling your home quickly is to find the right buyers. To find the right buyers, your home must be correctly priced. I use a Comparative Market Analysis (CMA)—a thorough, data-backed examination of your home and how it compares to other listings in your area—to accurately price your home. Without an agent’s CMA, it’s easy for your home to be listed at the wrong price.

    • Avoid Overpricing: Overpricing your home will attract the wrong buyers because you will force your home into competition with other listings that are fundamentally superior or have more to offer. When comparing other homes to yours, buyers will focus on the discrepancies and the features your home lacks. Overpricing will often cause homes to sit on the market for extended periods of time and become less appealing to buyers.
    • Avoid Underpricing: Under competitive market conditions, intentionally underpricing a home is a common strategy to attract buyer attention with the goal of starting a bidding war to drive the price of the home up. However, several things must go correctly for this to happen. In all other cases, underpricing your home reflects a lack of knowledge about where its market value fits into the fabric of current local market conditions and can leave you, the seller, unsatisfied with the price your home ultimately fetches.

3. Invest In Staging & Professional Photography

First impressions matter when selling a home. The vast majority of buyers are searching online and taking virtual tours of homes they’re interested in. As such, it’s well worth the time and money to hire a high-quality photographer and I always provide this for my sellers. The right photography can make all the difference in the minds of buyers.

Home staging is also a critical element for getting the most value for a home and selling it quickly. You can even DIY if you have the time and modern decor. It’s also the perfect time to inspect your home for any minor or cosmetic repairs that can be addressed quickly. An aesthetically pleasing home will attract more eyes, and any edge you can give your home over competing listings may be just the ticket to getting it sold.

4. Keep Your Emotions in Check

Selling your home is an act of learning how to let it go. Once you know you’re ready to sell, you’ll need to be able to look at it with an objective eye. This will allow you to approach decisions from a neutral standpoint and work towards what is best for the sale of the home. Having clear judgement will also help you get through the negotiating process and steer yourself toward a smooth closing. Stepping back can be tough, but a good agent will always be happy to give you guidance and help you keep perspective.

5. Wait Until You’re Ready

It may be tempting to rush your listing to take advantage of local market conditions, but waiting until you have all your ducks in a row will make life so much easier. Knowing when to sell your home is a mixture of being financially prepared, having the right agent, and understanding how your home fits into the current local market landscape. Once you’re ready, here are some tips on timing the market.

6. Use an Agent

…and I’m not just saying it because I’m an agent! Selling a home “For Sale By Owner” (FSBO) can save on commission fees, but is a complex and risky process that can easily lead to serious costs. An agent will help you front marketing costs, provide sound advice to help you avoid legal trouble, and ultimately shoulder some of the liability for the transaction. Being represented by an experienced professional will help you avoid mistakes during the offer process, negotiations, and closing that could otherwise be costly or jeopardize the sale. It’s no wonder that a vast majority of sellers choose to work with an agent.

7. Be Willing to Negotiate

Approaching buyers’ offers with an open mind will ensure you don’t miss any opportunities. Before the offers start to come in, it’s important to work with your agent to understand your expectations and strategize which terms and contingencies you’re willing to negotiate on. That way, you can quickly identify the right offer when it comes along. Showing a willingness to work with buyers will also keep them engaged and make sure you don’t leave potential deals on the table.


 

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© Copyright 2023 Windermere Mercer Island.

Adapted from articles that originally appeared on the Windermere blog, November 22, 2021 & April 7, 2021, by Sandy Dodge.

 

Real Estate February 17, 2023

Preparing to Sell Your Home: A Complete Checklist

Getting your home ready to sell can feel like a circus act. Without the right organization, juggling the countless moving parts involved in this stage of the selling process can take its toll. This is the perfect opportunity to create a checklist to keep yourself on track and within your budget. The following information will illuminate the key responsibilities you face as a homeowner as you prepare to hit the market.

We’ve included a comprehensive checklist below of the common tasks required to get your home ready to sell. It is also available as a downloadable pdf here:

Home Prep Checklist PDF

EXTERIOR

This list of value-adding curb appeal projects will help to form buyers’ first impressions of your home and make your ever-important exterior listing photos stand out amongst the competition.

  • Remove peeling and chipped paint; replace with a fresh coat
  • Fix loose trim and fencing
  • Clear gutters and downspouts
  • Make sure there is good exterior lighting and all walkway lights and front-door lanterns work
  • Clean and repair the roof as needed
  • Clear garage of clutter and tidy shelves
  • Inspect chimney for cracks and damage

Yard

  • Mow and trim grass; re-seed and fertilize where necessary
  • Prune all overgrown trees and shrubs
  • Weed flower beds
  • Remove or replace dead or diseased plants, shrubs, and trees
  • Clean grease and oil stains from driveway

Decks/Patios

  • Paint or stain worn areas on wood decks
  • Remove grass growing in concrete cracks; sweep off debris from shrubs and trees
  • Clean all deck rails and make sure they’re secure; replace missing slats or posts
  • Clean outdoor furniture

Front Door

  • Add a fresh coat of paint to get rid of nicks
  • Clean the glass on the storm door; make certain the screen is secure
  • Make sure the doorbell operates properly and there are no squeaks when the door opens and closes

Windows

  • Clean all windows inside and out
  • If needed, add a fresh coat of paint to the window trims and sills
  • Make sure all windows open and close easily
  • Replace cracked windowpanes and those with broken seals
  • Make sure window screens are clean and secure; replace any screens with holes or tears

Front Entry

  • Clean entryway floors and area rugs
  • Downsize clutter in the entry and entry closet to give the appearance of spaciousness
  • Double-check entry lighting to make sure it works

INTERIOR

Not only will these interior projects get your house sparkling clean, but they’re also preparatory steps for staging your home and hosting open houses.

General Interior Cleaning

  • Clean all floors, carpets, walls, and trim
  • Replace burned-out light bulbs
  • Empty trash
  • Remove family photos, valuables, and prescription drugs
  • Tidy up clutter

Kitchen

  • Fix dripping faucets
  • Organize pantry and cupboards so they appear clean, neat, and spacious
  • Make sure the refrigerator and freezer are defrosted and free of odors
  • Clean the oven and cooktop thoroughly
  • Set the table

Living/Family/Dining Rooms

  • Give rooms a fresh coat of paint as needed
  • Repair cracks and holes in ceiling and walls
  • Make sure all wallpaper is secure
  • Repaint any woodwork that is worn or chipped
  • Clean or replace draperies and blinds; open them to maximize light
  • Make sure draperies and blinds open and close
  • Steam-clean carpets
  • Clean rugs and wood flooring, and remove any stains or odors
  • Position the furniture to showcase the size and space of the room
  • Remove and replace any attached items, such as chandeliers and draperies, that you wish to move with you
  • Put away toys and hobby supplies; remove extra magazines and books from tables

Bathrooms

  • Make sure sinks, tubs, showers, and countertops are clean and free of stains
  • Repair any leaky faucets
  • Remove grout and soap stains from tile
  • Replace any missing or cracked tiles or grout
  • Make sure all joints are caulked
  • Make sure all fixtures, including heat lamps and exhaust fans are operating
  • Install a new shower curtain and buy matching towels
  • Store all supplies, such as toilet paper, shampoo bottles and cleansers, out of sight

Bedrooms

  • Repair cracks in ceiling and walls
  • Apply a fresh coat of paint if necessary
  • Make sure all wallpaper is secure
  • Clean draperies and blinds; open them to maximize light
  • Put away toys, clothes, and clutter
  • Neatly make up the beds

Basement

  • Check for water penetration or dampness; call for professional repairs if necessary
  • Get rid of musty odors
  • Clean furnace, hot water heater, and drains
  • Make sure light fixtures work
  • Arrange storage area in a neat and organized manner
  • Make sure stairway handrail is secure

Tidy Extras

  • Use air fresheners or bake treats to make the house smell good
  • Plant flowers to brighten the walkway and enrich the entry
  • Remove any indoor houseplants that are brown or losing their leaves
  • Remove all “fixer” cars, campers, and boats from the property
  • Tidy and declutter all closets
  • Hide or get rid of worn-out throw pillows
  • Store pet supplies
  • At night, turn on the porch light and outdoor lighting

For more information on preparing to sell your home, visit my Home Selling Guide:

 


This article originally appeared on the Windermere blog June 29th, 2022. Written by: Sandy Dodge.

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© Copyright 2023, Windermere Real Estate/Mercer Island.

Real EstateTips, Trends & Living March 14, 2022

Should You Remodel or Sell Your Home As Is?

Homeowners who are preparing to sell are often faced with a dilemma about whether to remodel or sell their home in its current state. Each approach has its respective advantages and disadvantages. If you decide to remodel your home, it will likely sell for more; but the increased selling price will come at the cost of financing the remodeling projects. If you decide to sell without remodeling, you won’t spend as much money putting your home on the market, but the concern is whether you’re leaving money on the table.

 

Should I Remodel or Sell My Home As Is?

To answer this question, it’s important to understand the factors that could influence your decision and to work closely with your agent throughout the process.

 

Cost Analysis: Home Remodel vs. Selling Your Home As Is

Home Remodel

When you remodel your home before selling, you’re basically making a commitment to spend money to make money. So, it’s important to consider the kind of ROI you can expect from different remodeling projects and how much money you’re willing to spend. Start by discussing these questions with your agent. They can provide you with information on what kinds of remodels other sellers in your area are making and the returns they’re seeing as a result of those upgrades. This will help you determine the price of your home once your remodel is complete.

Then, there’s the question of whether you can complete you remodeling projects DIY or if you’ll need to hire a contractor. If hiring a contractor seems expensive, know that those costs come with the assurance that they will perform quality work and that they have the skill required to complete highly technical projects.

According to the Remodeling 2021 Cost vs. Value Report for Seattle (www.costvsvalue.com1), on average, Seattle-area homeowners paid $28,967 for a midrange bathroom remodel and $29,183 for a minor kitchen remodel, with a 76.9% and 87.7% ROI respectively. This data shows that, for these projects, you can recoup a chunk of your costs, but they may not be the most cost-effective for you. A more budget-friendly approach to upgrading these spaces may look like repainting your kitchen cabinets, swapping out your old kitchen backsplash for a new one, refinishing your bathroom tub, or installing a new showerhead. Other high-ROI remodeling projects may allow you to get more bang for your buck, such as a garage door replacement or installing stone veneer. To appeal to sustainable-minded buyers, consider these 5 Green Upgrades that Increase Your Home Value.

 

Cost vs Value for Remodeling Projects in Seattle

 

Selling Your Home As Is

Deciding not to remodel your home will come with its own pros and cons. By selling as is, you may sell your home for less, but you also won’t incur the cost and headache of dealing with a remodel. And since you’ve decided to sell, you won’t be able to enjoy the fruits of the remodel, anyway. If you sell your home without remodeling, you may forego the ability to pay down the costs of buying a new home with the extra money you would have made from making those upgrades.

 

Market Conditions: Home Remodel vs. Selling Your Home As Is

Local market conditions may influence your decision of whether to remodel before selling your home. If you live in a seller’s market, there will be high competition amongst buyers due to a lack of inventory. You may want to capitalize on the status of the market by selling before investing time in a remodel since prices are being driven up, anyway. If you take this approach, you’ll want to strategize with your agent, since your home may lack certain features that buyers can find in comparable listings. In a seller’s market, it is still important to make necessary repairs and to stage your home.

In a buyer’s market, there are more homes on the market than active buyers. If you live in a buyer’s market, you may be more inclined to remodel your home before selling to help it stand out amongst the competition.

 

Timing: Home Remodel vs. Selling Your Home As Is

Don’t forget that there is a third option: to wait. For all the number crunching and market analysis, it simply may not be the right time to sell your home. Knowing that you’ll sell your home at some point in the future—but not right now—will allow you to plan your remodeling projects with more time on your hands which could make it more financially feasible to complete them.

For more information on how you can prepare to sell your home, connect with one of our local agents—we’re always happy to chat about your situation and offer advice.

 

1©2021 Zonda Media, a Delaware corporation. Complete data from the 2021 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

This article originally appeared on the Windermere blog January 10, 2022. Written by: Sandy Dodge.


 

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We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2022, Windermere Real Estate/Mercer Island.

 

Real Estate May 4, 2020

How to Buy and Sell Safely in the New Normal

 

While buying and selling real estate was recently deemed essential in Washington State, the landscape looks very different than it did before the COVID-19 outbreak. Real estate offices remain closed to the public with agents (like me) working remotely and hosting virtual client meetings. Important safety regulations prohibit in-person open houses and limit the number of people who can tour a home or attend an inspection. Social distancing will remain at the forefront as we wait for a vaccine or treatment to become widely available.

So how do you buy or sell a home safely in this new environment? Thanks to modern technology, there is a lot I can do to help you through the process while minimizing the risk to you and the community. Here are some tips on how to do it right…

 



 

TIPS FOR BUYERS

  • Do your homework before you tour a home in person. Take a virtual online tour, research the neighborhood and ask your agent to delve into the property and title history. If a virtual tour isn’t available, your agent can give you a preview via FaceTime or Skype while walking through the home.
  • Get pre-qualified. Knowing your exact budget in advance will help you save time and avoid any non-essential showings.
  • Schedule a 1-hour showing window. When you think you’ve found “the one” and are ready to tour it in-person, have your agent book a full hour so that you are less likely to run into other buyers. This will also allow time for each person to see the home since there is currently a limit of just 2 people in the home at once, including the agent.
  • Meet your agent at the home. Instead of carpooling, drive separately and then wait in your car until your agent confirms that the home is empty and ready to tour. Condos may have special rules for showings and you’ll also want to take separate elevator trips if you’re touring a high-rise.
  • Play it safe during the tour. Wear a mask, wash/sanitize your hands when you enter and leave, limit touching of surfaces, and maintain at least 6 feet of social distance from your agent at all times. Assume you might be recorded by the homeowner and observed by neighbors.
  • Meet virtually with your agent. When it’s time to write an offer, your agent can use any number of video conferencing apps to share documents with you and discuss them in real time. You can then sign and authenticate all contracts electronically via a secure service such as Authentisign.
  • Don’t skip a professional home inspection. Due to the difficulties around seeing the home in person, it is more important than ever to make sure you know of any underlying issues it may have. The 2-person rule still applies at inspections so your agent will likely request the seller’s permission for you to be in the home alone with the inspector while the agent waits in the car. You’ll also need to make sure you and your inspector comply with all social distancing and safety rules.



 

TIPS FOR SELLERS

  • Give your listing agent a virtual tour. Rather than meeting in person, utilize an app like FaceTime or Skype to virtually walk your agent through your home using your smart phone. Hold meetings virtually whenever possible and sign documents electronically through a secure service such as Authentisign.
  • Move out first if at all possible. This makes it practical for buyers to comfortably view your home while following the current 2-person limit for home occupancy during showings. It also protects you from any potential exposure—especially important if you are in at at-risk age group and/or have health problems.
  • Time the market with expert advice. Talk to an agent you can trust who follows the ins and outs of regulations from the Governor’s office and also has access to showing data and activity reports that can help you determine the best time to sell.
  • Look your best online. Make sure your agent will coordinate truly stellar home preparation, staging and photography. Consider having a professional video tour and interactive floor plans as well.
  • Have your agent hold a virtual open house. Live-streaming a virtual tour from inside the home is a great way for your agent to reach buyers and answer their questions in real time. Virtual open houses are also now promoted on virtually all home search websites and apps.
  • Prepare diligently for in-person showings. Be sure that you or your agent provides hand sanitizer, single-use booties and masks along with a sign detailing the safety guidelines you would like visitors to follow while in your home. Open interior doors and turn on lights ahead of time to minimize touching. Disinfect high-use surfaces after each showing.

 


 

Find a Home with Windermere Real Estate

 

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island

Real Estate April 7, 2020

Economic Insights from Matthew Gardner

How will the coronavirus impact the housing market?

 

As we all hunker down through these challenging times, it is comforting to remember that there will be light at the end of the tunnel.

A voice of calm and reason in this time of uncertainty has been our Windermere Chief Economist, Matthew Gardner. While he is expecting an economic slowdown accompanied by a temporary 15-20% reduction in the number of homes sold, he believes the housing market will bounce back once we find our new normal.

Click here to watch his latest videos, or scroll down for some key takeaways…

 

 


 

The US economy will contract sharply but should perk up by Q4.

We’re in for a rough few quarters as the economy enters a recession. Just how rough—and how long—is still under debate. What economists do agree on is that the 4th quarter is looking remarkably positive…assuming we get through the COVID-19 crisis and the economy can resume somewhat normal activity before the fall.

 

 


Housing prices will likely remain stable.

Seattle home prices should remain steady—or even rise slowly as we come out of the recession—for a few reasons:

  1. DIVERSE INDUSTRIES IN OUR AREA which allow us to better weather the economic storm.
  2. SOLID FINANCIAL FOOTING as one third of local home owners have 50% or greater equity in their homes.
  3. STRONG DEMAND with more buyers than homes available, as well as rock-bottom interest rates.

 

 


This will be different than 2008…

We’re experiencing a health crisis, not a housing crisis.

  1. WE’LL SEE A PAUSE, NOT A COLLAPSE. Unlike last time, the housing market was strong going into this crisis and should rebound quickly. Why? Because this recession will be due to specific external factors rather than any fundamental problem with the housing market.
  2. FORECLOSURES WILL BE FEWER with most lenders offering relief to homeowners in distress due to temporary employment issues. Unlike 2008’s mortgage crisis caused by lax lending standards and low down payments, today’s home owners are better qualified and have more equity in their homes.

 

 


 

Find a Home with Windermere Real Estate

 

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island