Three things you should do to successfully sell a fixer-upper.

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The selling process is already difficult enough, but when you add noticeable problems with the property into the equation, it can make the home sale even more complicated. Inventory is now increasing, and buyers have more options to choose from. Your home, which needs repairs, won’t likely be their first choice, and those who are interested in purchasing may make an offer that’s less than what you wanted to sell it for.

Selling a house with major issues takes a lot of work, and there’s never enough time to do it. The longer the home stays with you, the more expensive the costs of repairs and maintenance will be. If you don’t act soon, that property could end up becoming a liability. Fortunately, there are ways to reach the closing table and make a profit. To sell a fixer-upper, here are three things you should do:

1. Get a home inspection. You know the property is in a bad shape, but you’re not exactly sure to what extent. This is where a professional can help. A home inspector will locate the problems and give you a complete rundown of them. Once you’ve identified what has to be fixed, you can evaluate whether you can afford the repairs and replacements, or if you’ll just sell as-is. Also, remember that disclosing the issues of your home to would-be buyers is required by the law. You want to be as transparent as possible to avoid any legal repercussions later.

2. Consider selling to an investor or a bargain hunter. The worse the home’s condition is, the bigger the pool of investment buyers will be. Real estate investors don’t want to live in that house. They want to repair and upgrade it so they can sell and earn a profit. Typically, they will pay with cash and will buy the home as-is. Bargain hunters, on the other hand, are in search of their dream homes. They are willing to put in the elbow grease needed to make a property livable and will overlook a few flaws, as long as they love the location.

3. Be realistic with your price. Whatever market we’re in, pricing your home correctly will always be critical. This is especially true for homes that are not in the best condition. You have to set a reasonable price, one that is based on research and makes sense for the market. The best way to do this is by working with a real estate professional. An experienced agent can use their resources and connections to ensure that you get the best possible deal for your sale. 

It’s possible to sell a home that requires work. If you follow these tips, you will confidently get to closing. For more tips on how to successfully sell a fixer-upper, call or email me. I’m happy to be your real estate consultant!

These two developments signal a very healthy real estate market.

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Today I want to update you on what's happening in the market as we start the year 2023.

First, let's talk about interest rates since they're probably the most important factor in our market. We just got positive news from the Federal Reserve when they made their announcement—It really met the market's expectations, which is always good news. That means the interest rate will hopefully continue to come down a little bit, which is very good for the real estate market. Now we're sitting at just over 6%, which is as low as it has been since around October or maybe September.

This is excellent news because that means we'll likely see an increase in demand as affordability gets better; there will be more buyers coming back to the market. As I mentioned, people will also feel more comfortable because things meet their expectations. People will be more likely to buy, which means more demand. Sellers, this is good news for you. Buyers, this means it may get a little more competitive, but it's still not what we saw in early 2022 or 2021. It's not quite back to that market yet. So good news all around, we're entering a very healthy market, and I'm excited about it.

The second factor we're looking at is housing supply. Now in King and Sonoma County, the inventory has continued to fall. This follows the normal seasonal trajectory, where inventory comes down in the winter and goes up through the spring in the summer. I expect maybe another month of that coming down. So there is a lot of scarcity in the market, but then in March or April, we should see increases happen pretty quickly in the number of homes on the market. For sellers, that means that there's not a lot of competition out there, but demand hasn't come back yet. It's a give-and-take. If you wait until spring or summer, there may also be more competition and more buyers. That being said, on the buyer side, there are not a lot of choices right now, but the other buyers haven't quite come back. There may be opportunities to get houses before there are more multiple-offer situations. However, I am starting to see those a little bit more often, and it's still an excellent opportunity to get something before that competition starts to pick up and at a very good interest rate.

Of course, these are just a few factors that will affect the market. So if you want to talk about the specifics of your situation or area, give me a call or send an email. I’d love to connect with you.

These are the two main ways you can sell your home as fast as possible.

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Do you need to sell your home ASAP? There are plenty of reasons why a homeowner might need to sell their home immediately, whether they changed jobs, need their equity, or just want to skip the hassle of a sale. Whatever your reason is, what can you do to spend as little time selling your house as possible?

Home sellers who need to move quickly have two main options: using an all-cash offer program or listing with an agent who knows how to sell fast.

All-cash offer programs have no strings attached; they’ll take your home off your hands before you can blink. You don’t have to worry about long waiting periods, inspections, showings, appraisals, or anything else that might gum up a sale. Around 87% of buyers finance their home purchases, and while there’s nothing wrong with that, it leaves a lot of room for things to go wrong. An all-cash offer lets you skip the hassle entirely.

However, there are some cons to all-cash offers. Most of these offers come from investors, which means they’re trying to make a profit from your property. They likely won’t offer you full market value for your home; in fact, they may try to flip it as soon as you close. All-cash offers are as convenient as it gets—unfortunately, you may have to pay for that convenience in the final sales price.

If you need to sell quickly but want to receive the most money possible, working with an experienced real estate professional is your best bet. They know tons of tricks to help you sell as fast as possible with the least amount of work. While your sale might not be as fast as using a cash-offer program, many sellers are surprised by how quickly they can sell if they use the right strategy.

For example, one of the best ways to sell your home fast on the open market is to price it competitively. That means your agent might suggest pricing your property slightly below market value. It may sound odd, but the attractive price point will bring in lots of buyers, which will increase competition and naturally drive up the price. Plus, you’ll be more likely to receive a cash offer.

Your agent might also suggest cleaning, decluttering, and depersonalizing. The easier it is for buyers to picture themselves living in your home, the faster it will sell. Similarly, curb appeal is crucial. First impressions matter, so if you tidy up your yard, you’ll receive a better deal. Finally, buyers love financial incentives. Offering to help pay closing costs or a transferable home warranty could convince a buyer to close as soon as possible.

Whichever route is best for you, I would love to help. Just call or email me with any questions. I look forward to hearing from you!

How to calculate the amount of money you’ll keep after your home sale.

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The market has been changing lately, and many people have been wondering if it’s a good time to sell their homes. If that is you, one factor that will help you make that decision is knowing how much money you’ll get to keep after you sell. Too many people oversimplify this estimate and end up disappointed. I want to help you avoid that.

Start by using a home value estimate calculator. You can access mine here. This is a free tool that shows you an estimate of how much your home is worth. This is not a guarantee, so know that numbers will fluctuate. However, this will at least help you get a good ballpark figure to start with. 

After that, figuring out how much of the money from your home sale that you’ll get to keep is about more than just subtracting your remaining mortgage loan balance from the sales price. Many homeowners have unrealistic expectations because they don’t know how to calculate their net proceeds. That is the amount of money you receive from selling a home, after the expenses. It’s crucial to factor in the expenses of a home sale.

Here is an important calculation to use: take your home’s estimated sale price, then subtract the balance of your remaining mortgage loan, then subtract expenses—that’s how much money you’ll get to keep when selling your home.

Some common expenses that come with a home sale include staging costs, closing costs, title fees, attorney fees, transfer taxes, remaining bills, and moving costs. It adds up! That’s why it is very important to take them into account when calculating the amount of money you expect to keep after your sale.

However, know that there are ways to reduce those expenses. If you’re handy, you can DIY projects when possible. You could consider cost-effective staging, and get a professional opinion on what changes will actually make a difference in your final sales price. Lastly, it will benefit you to have help from an agent that is an experienced professional. Having a good agent will help you sell your home for the most money possible and greatly increase your net proceeds. 

I want you to be able to keep a lot of money after selling your home. If you want my help with selling, or if you have any questions, don’t hesitate to reach out! I look forward to hearing from you.

Crucial stats about where the housing market is trending in 2023. 

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Happy Holidays and Happy New Year! We are already at the last video of the year, which is crazy. For this last installment, I will update you all on what the market is doing as the year comes to a close.

To start, interest rates have been steadily declining from the peak in November of about 7%. Today, the rate for the national average is down to about 6.3%. I will keep an eye on where that number goes as we enter the coming year. 

Another thing that I've been following closely is inventory, which is about three times what it was this time last year. Therefore, buyers have a lot more options and things are a bit more competitive for sellers. That being said, inventory is still relatively low, and if rates continue to fall, there's going to be a lot of demand.

The third point that has changed recently is the average number of days that a property will stay on the market, which continues to climb. At the beginning of this year, that statistic was sitting at about one week, but the average days on market is now 30 to 35 days in our area. Therefore, transactions are taking a bit longer, and expectations need to continue to adjust to that.

Overall, the market is in a much healthier place. Things are down from the peak that came earlier this year, but that’s good news for the market. Now buyers don't have to waive all of their inspections and things that protect them from potentially large expenses when they first move into a house. At the same time, sellers are still getting very good prices for their homes.

If interest rates continue to decrease, the market may make some gains in the spring, and I will keep an eye on that. Still, as 2022 comes to a close, the market is looking very good.

Real estate is a very localized industry, and things are different from one neighborhood to the next, so feel free to reach out if you'd like to discuss your specific situation. Call or email anytime. Also, 2022 has been a great year, and I greatly appreciate your support in making that happen! I wish you a great holiday season and a happy New Year.

How to decide if you should try to time the market for a cheaper price. 

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Should you wait until prices come down before purchasing a home? It's important to remember that there are many factors that go into determining the price of a home including interest rates, the local economy, the economy of the whole country, and even the season. A lot more goes into this than just trying to predict when the market will crash. 

Industry experts are saying different things, but it's important to understand that prices have come down this year primarily because interest rates have gone up, so affordability hasn't gotten any better. In fact, it might be less affordable now than it was at the beginning of the year when prices were much higher. There is a balancing act of getting the best price, which will set you up for long-term equity, and the affordability of how much your monthly payment is going to be over the long term or over the short term if you're planning on refinancing.

Most experts predict that the market will continue to trend downward. Robert Dietz, the chief economist for the National Association of Homebuilders, says, “You want to be strategic and patient—patience is different from waiting for a crash.” Take your time, do research, and come up with a strategy that will make you successful. In this market, buyers have much more time to do that. However, that's different than waiting around for the market to crash and trying to time the absolute bottom. If you do that, you may just end up missing the chance. As always, all these things come down to personal factors, the local market, and your goals.

If you'd like to reach out and talk about a personalized plan, contact me by phone or email. I’d love to be your real estate resource.

These three tips will help make your home stand out this season.

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During the fall and winter seasons, there's less inventory in the market, which means your home has a better chance of catching the eyes of buyers. To make your house stand out this fall, here are a few tips you can follow:

1. Let natural light into your home. Get rid of some of your personal belongings, stage your home a bit, and make sure the windows are open and you're letting in natural light.

2. Don’t go overboard with holiday decorations. It's okay to put some decorations out, but you don't want to detract the buyers from the house itself.

3. Take advantage of the weather. Make the home feel cozy. Play up the warmth and the welcoming aspects of your house to make buyers feel an emotional connection with it.

If you need more help prepping your home for the fall and winter markets, call or email me. I’m happy to be your real estate consultant.

An update for both buyers and sellers on today’s changing market.

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As the seasons change, so does the market. It’s shifting a lot as we head into the winter months, so it’s important to stay up to date. If you’re thinking about buying or selling anytime soon, this information will help you make a solid plan.

First, interest rates have been changing quickly—that has been the driving force of the market this year. Currently, rates are just over 7%, while in July, they were at 5.5%. That makes a huge difference in affordability and the monthly cost to get a mortgage in this market. Therefore, both supply and demand have slowed down a bit, as we saw a reduction in inventory in Snohomish County and King County.

This means that sellers have a chance to stand out because they likely won't have as much competition until we get a couple of months into next year. For buyers, there aren’t going to be quite as many options, but there's not going to be as much competition for them either. Also, sellers will be more willing to negotiate with buyers, especially if they have a timeline or motivation to sell.

Seasonally, we usually see the market start taking off in the spring, starting in February or March. However, this year is an anomaly because of the changes in the interest rate and because there are so many factors that are outside of our control. We can’t know for sure what the future holds, so I think it's a great time to act with the information that we have right now. 

If you have questions about your specific situation and how you can meet your goals, please feel free to reach out anytime through phone call or email. I would love to help you in any way that I can.

Some of the advantages of selling your home in the fall and winter

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Today I want to discuss what it means to sell in the fall and winter, and what are some of the advantages of selling during this time of year versus waiting until the spring or summer.

During the colder seasons, fewer buyers are looking for homes; we also have much less activity on the seller’s side during this time of year. Due to these factors, some opportunities become available to sellers. Here are a few reasons why it’s a fantastic time to sell during fall and winter:

1. Limited inventory. This gives your home a better chance of standing out. There will still be a lot of buyers who were looking over the summer and didn’t find anything—they’ll still be watching the market as we head into the fall. If your home catches their eye, there’s a great chance you’ll find a serious buyer.

2. More serious buyers. During the summer, you’ll have people who drive out, see an open house, and stop by. Whereas, you tend to get more serious buyers in the fall season, who come out in the rain and snow to see your home. That indicates there’s a level of seriousness there.

3. The market slowdown. The market has come down from where it was at the beginning of the year, and that’s primarily because of the rising interest rates. Still, properties are moving pretty effectively, with 25 days on market being the average in King and Snohomish Counties. So houses are still moving at a good pace and the market is still good.

Ultimately, it comes down to your individual needs, your individual house, and what you’re trying to accomplish with the sale of your home. Feel free to reach out to me to discuss the details of your specific situation by giving me a call at (425) 877-8415 or visiting my website.

Here are three things to consider if your home just won’t sell.

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“Why isn’t my home selling?” As our market shifts, more people have been asking me this question. There are three main factors you can control that determine whether or not your home will sell: condition, marketing, and price. Today I’ll cover what you can do to make sure each one of these variables is as good as they can be. 

1. Condition. This is more than just how nice your home is; it’s how people perceive it. For this reason, professional photos are crucial. An easy way to beef up your condition is to touch up your landscaping. This will give buyers a good first impression of your property, and it won’t cost much time or money.

2. Marketing. You need to get as many eyes on your home as possible, so who you work with matters. If you’d like to learn more about what I can do to market your home, just reach out; I’d love to speak with you. 

3. Price. If your condition is as good as it can be, and you have a great team marketing your property, but it still won’t sell, your price is probably too high. Your goal should be to find a sweet spot. One common strategy is to price your home a little under market value. This will attract competition among buyers and drive the price up naturally. 

If you have questions about this topic or anything else, please call or email me. I look forward to hearing from you.