Category Archives: Real Estate

Weekly Statistics Ending May 5, 2017

This week’s activity cooled somewhat compared to last week’s marathon. The market is still active to be sure, but more buyers are taking their time to check out their options. Our 1.75 days of gorgeous weather possibly played a role…

Click here for the full report and neighborhood-by-neighborhood statistics!

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Get Ready to Sell!

Get Ready to Sell!

If you are thinking of selling in the next few weeks, or even months from now, there are things you should do to get your home into tip-top shape. Here is a list of the most common items that I check when getting a home ready to sell:

  • Review walls and ceilings for small cracks. Repair these throughout. If there are larger cracks in the ceiling, walls, foundation, or driveway, these might be a sign of a problem that you may want to look at or fix before coming on the market.
  • Check the paint in each room. If the rooms need to be freshened up, paint is one of the cheapest ways to have big impact.
  • Wipe down all baseboards and trim. If there are scuffs, dents, or marks, if your trim has a wood look, you can touch up the stain and if they are painted and the scuffs won’t come off, you may need to touch up the paint.
  • Make sure your ceiling is free of cobwebs and dust.
  • Clean all vents.
  • In the kitchen, cabinets (both inside and the doors) need a cleaning. I encourage sellers to declutter while they are at it. Buyers will look inside the cabinets, so I recommend boxing up the extra dishes, Tupperware, and spices while you are cleaning and making the insides nice and neat.
  • While you are in the kitchen, clean and tidy up the fridge. Again, less is more, so use up or toss all those extra salad dressing containers, mustard, and hot sauce packets.
  • Give appliances a thorough cleaning including the inside of the stove, the stovetop, grease traps, vacuum the back of the fridge, etc.
  • Remove all the papers and magnets that might be on the fridge.
  • Kitchen counters seem to attract a lot of clutter. I recommend clearing everything off and only putting back a few things that you are going to need for the next 90 days and that aren’t visually distracting. For example, you might need a toaster and a coffee maker. As long as those look neat and in working order, they can stay. But don’t leave a can of coffee on the counter. That goes in a cabinet.
  • The same type of cleaning you did in the kitchen cabinets need to be done in the bathroom. Clean out all drawers and cabinets and only replace what you need in the next 90 days. Remove everything from the bathroom counters except for soap or nicely-organized jars with Q-tips and cotton balls. Everything else should be stowed in cabinets neatly.
  • Edit your shower collection of shampoos, conditioner, body soap, etc, to only one bottle of each and remove extra razors and scrub brushes.
  • Edit your towels to a single color that enhances the bathroom décor and make sure all family members know how to hang up the towels properly after use.
  • Check tile grout and replace if necessary. Do the same with the caulk.
  • Clean the bathroom fan.
  • Clean out the shower and tub drains.
  • Check all the light fixtures in the house to make sure they are working property and to replace all burned out bulbs.
  • While you are doing that, check each light switch and clean the switchplates. You can also make sure that the plates for the outlets are in good working order.
  • Service the furnace and water heater. If you live in a rural area, it might be a good idea to have the septic inspected as well, although rules in different areas may affect when exactly you want to do this.
  • Usually I suggest that carpets get cleaned.
  • If wood floors are scuffed up, they may need to be refinished.
  • Clean all blinds and window treatments.
  • Clean out the fireplace and have the chimney inspected. Stage a log or two in the fireplace if you like. Clean glass doors and remove excess materials from the hearth and mantel.
  • Review your houseplant situation. Any that are barely hanging on should be removed or replaced.
  • Wash all windows and outside doors and make sure they slide freely. You may want to replace all windows that have a broken seal.
  • Analyze each room to make sure the function is clear. Any items that don’t support that function should be removed. For example, if in the master bedroom, there is workout equipment, a desk with piles of paperwork, and a dog crate, I would suggest removing the workout equipment, dog crate, and packaging up the paperwork. We want a nice, calm space.
  • While you are analyzing each room, declutter as much as possible. That means removing extra artwork that is cluttering up the walls, removing family tchotchkes and photography, and removing collections of things. For example, if you have collections of plates, Star Trek memorabilia, bells, etc, I suggest packing those up so the buyers can picture themselves in your home.
  • If you have kids, getting the house ready to sell can provide you with a great opportunity to go through their toys and clothes and get rid of things they have outgrown. Since toys can create a lot of clutter, give them a choice of perhaps 10 things they can keep while the home is on the market, and then make sure they know how to put those away when they are done playing.

  • Is anything broken or in need of repair? Believe it or not, the cost to fix these items now may be less than the perceived value the buyer may put on disrepair when making an offer. If your dog has scratched up a door beyond repair, there are deck boards broken, or a kitchen door is missing a handle, get it fixed before the home goes on the market. We want the buyers to feel that your home is well-taken care of.
  • If there is a challenge with odors in your home, you can possibly use room deodorants or disinfectant sprays (but beware that some buyers are sensitive to these so don’t overuse). There are also products out there specially-designed to handle pet odors and you may want to rent an ozone system if the smell cannot be otherwise overcome or identified.
  • If the weather has done some damage to your home outside, repainting and caulking the seams is a good plan.
  • Make sure the front door looks especially, clean, freshly painted if applicable, and inviting.
  • Verify decks and railing are in good repair and are freshly stained and/or painted.
  • Get the roof cleaned of moss and dust and make sure there are no issues that should be addressed before the home goes on the market.
  • Clean the gutters.
  • Remove webs and bird droppings from eaves.
  • Pressure-wash all cement surfaces such as driveways and walkways.
  • Prune plants and trees so there is at least six inches or more of space between the plant and the house.
  • Prune or remove plants that are partially dead or don’t look great and make sure to deadhead all dead flowers.
  • If your trees need work, such as removing dead branches, go ahead and get this taken care of.
  • Determine if mulch (bark, rocks, etc) needs to be replaced and do so.
  • Make sure all container plants and pots look fresh and organized neatly.
  • Areas that are graveled may need a fresh coat of gravel.
  • Wind up the hose neatly.
  • Keep the grass trimmed neatly. If there are bare patches, cultivate some grass and keep it green.
  • Apply the same decluttering principles to the deck and outdoor living spaces. If furniture and décor is mismatched, this will distract the buyer.
  • Make sure outdoor furniture cushions are cleaned. Add a pop of color with outdoor pillows, freshly-potted plants, and hanging baskets.
  • Clean the BBQ.
  • Make sure garage door opener works.
  • Remove excess clutter from garage. Belongings should be neatly organized on racks or in cabinets wherever possible.
  • Clean the garage. Keep the floor swept. Depending on what you have in the garage, some people will use a leaf blower to clean out dust that is sitting on belongings and in corners.
  • If applicable, make sure crawl space under the house is clear of garbage, pests, etc. We may want to put down new plastic sheeting on the ground if needed.
  • And of course, give your home a thorough cleaning!

There may be additional custom items for your home that need to be added to this list. Although this may seem overwhelming, addressing each item will bring in more potential buyers. If you are ready for your custom plan, give me a call: (425) 260-0715 or email: jay@jayagoado.net.

Weekly Statistics Ending April 21, 2017

We saw an incredible uptick in homes for sale this week and some slowing in the volume of pending sales. That said, we are hearing crazy stories of hot Seattle listings being bid up 20-25%. Be careful out there! Know your limit before you get emotionally attached. Having a savvy Realtor can help you make smart decisions even when the market is bonkers.

Click here for the full report and neighborhood-by-neighborhood statistics!

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Should I Waive The Inspection?

Jay,

The house I want to buy looks great and some of my friends are saying my offer stands a better chance of being accepted if I waive an inspection. Should I?

While I applaud your friends trying to help you get the home you want, in short, I do not recommend waiving an inspection. I have seen too many structural deficiencies hiding behind fresh paint to feel an inspection is superfluous.

Having an inspection gives you the opportunity to get to know the bones of the home and discover the minor or major issues of the property – important information for any future homeowner.

Even if a home is being sold “as is”, it is worthwhile to have an inspection done so you can get an idea of what it would cost to do the needed renovations.

One strategy that buyers in highly-competitive markets are employing is getting a pre-inspection. In this scenario, the buyer would pay to have an inspection done before making an offer on the property so they can know the possible fixes the property needs ahead of time and decide whether they want to move forward with an offer or not.

There are pros and cons to having a pre-inspection. First, not all sellers will agree to a pre-inspection. Second, the buyer pays for the inspection out-of-pocket and the seller may not even choose their offer to accept, causing the buyer to walk away empty-handed.

However, a pro is that the inspection itself no longer is a contingency in the offer, making the sellers feel more at ease.

A buyer may be faced with a seller who indicates they have already had a professional inspection done of their property and therefore a buyer inspection is not necessary. However, I still advise buyers to have an independent inspection completed. Just because a seller may have had a pre-inspection done does not mean they have fixed all the issues the inspector found – or they may not have fixed them in a way that is up to the buyers’ standards.

If you are thinking about moving and want to know more about inspections and the buying or selling process, please contact me at 425-260-0716 or jay@jayagoado.net.

Weekly Statistics Ending April 7th, 2017

Many neighborhoods saw a slight cooling off this week with pending sales lower than the craze of last week. More new listings promised to come to market could ease the pain felt by buyers in this extreme seller’s market. Check out this week’s report neighborhood by neighborhood for details!

Click here to to view the complete report for all 16 MLS areas

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Kitchen Remodeling

Jay,

We are thinking about remodeling our kitchen but are not sure how much it could cost or if it is worth it if we try to sell in 5 years. Does it make sense to remodel our kitchen?

When thinking about doing a kitchen remodel you have to identify the reason for the remodel. Some people remodel their kitchen to suit their current lifestyle needs while others do it for the purposes out bringing extra value to their home. They type of remodel you do will depend entirely on your budget. And most people fail to plan a budget that they can live with. Often they start with choosing appliances or cabinets they have fallen in love with and then they build from there. This can cause budgetary nightmares down the road so it is recommended you start with your budget and work with kitchen remodeling pros who can give you a reality check on what is possible within that budget.

According to Remodeling Magazines national remodeling costs, professional kitchen remodels range from $56,000 for mid-range remodels to $110,000 for upscale remodels while the do it yourself remodel averages $24,000.
When investing this kind of money pay particular attention to the following kitchen remodeling budget tips:
1) Keep the kitchen layout the same to save money
2) Avoid using expensive upscale materials like exotic woods for the cabinets
3) When trying to save money don’t scrimp on plumbing and electrical
4) Get multiple bids and negotiate for what you need

When a kitchen remodel is done right it can bring an excellent return on your investment and provide you with a state of the art kitchen for you to enjoy for years to come.


SOURCE: http://www.remodeling.hw.net/

Thinking About Moving in a Few Years – Remodeling The Bathroom

Jay,

My family will likely be moving in about three years from our home. We have done nice updating throughout the house, but our master bathroom is woefully in need of some updating as it was last updated in the early 80’s. Does it make sense to remodel?

While you will likely not recoup everything you put into your bathroom remodel, it may indeed be worth the time and effort. Furthermore, if your home can stand out from the competition when it does come time to sell, you may benefit from a shorter time on the market and higher sale price. Of course, until then, you can enjoy your bathroom.

According to Remodeling Online, their Cost Vs. Value Report, if a bathroom were remodeled and the house sold within one year, an average rate of return was 84.9%. The average spent was $12,918 with $10,970 recouped.
However, if the floorplan of your bathroom doesn’t need attention and your cabinets are in good shape, you may be able to get away with a much less-intensive remodel. Simply re-facing the cabinets, adding new countertops and hardware, and updating fixtures such as the sinks, toilet, shower and tub can save a lot of money.

SOURCE: http://www.realtor.com/home-garden/remodel/remodeling-projects/top-7-roi.aspx

Weekly Statistics Ending March 31, 2017

This week was beyond eclectic as every neighborhood seemed to beat to its own drum completely oblivious to what was happening next door. Check out this week’s report neighborhood by neighborhood for details!

Click here to to view the complete report for all 16 MLS areas

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Weekly Statistics Ending March 24th, 2017

Sales increased this week at many price points in nearly every neighborhood throughout the Seattle-Eastside region. The $2 million and above price point continues to have more supply than demand, but otherwise the market very much favors home sellers.

Click here to to view the complete report for all 16 MLS areas

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Weekly Statistics Ending March 17, 2017

News of substantial expected mortgage interest rate increases in 2017 may motivate buyers further to purchase while rates are low. Every 1% increase in interest rates equates to about a 10% reduction in purchasing price for the same monthly payment. So if you purchased a $600,000 home at 3.5% interest it would be about the same monthly payment as a $540,000 home at 4.5% interest.

The market quieted this Saint Patrick’s Day week as most neighborhoods saw a status quo result instead of the upward momentum we had been experiencing. Fewer homes available on the market was likely the primary cause of this stagnation. 

Click here to to view the complete report for all 16 MLS areas

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.