10 Steps to Selling Your Home

Image source: Shutterstock

 

Navigating everything involved with selling your home can seem intimidating. Breaking the process down step by step will keep you organized and ready to work with your agent toward a successful home sale.

 

1. Choose an agent

A lot goes into choosing the right agent. If you’re unsure where to start, get referrals from trusted friends, family, and neighbors. Although the ultimate goal is the sale, think about your compatibility outside of the transaction. Their ability to connect with you on a human level through the ups and downs of a home sale is just as important as their expertise and knowledge of the market. If I am not the right fit, I’m happy to make some referrals to trusted colleagues.

 

2. Set a timeline

Depending on your local housing market conditions, your timeline for selling your home may vary. However, a timeline is valuable in that it will keep you organized throughout the selling process and allows you to adjust if circumstances change. We can work together to build the ideal timeline.

 

3. What is your home worth?

The key to selling quickly is correctly pricing your home from the first day it hits the market. In particular, overpricing can lead to serious complications in the selling process. I can provide you with a Comparative Market Analysis (CMA) to better determine the best price of your home. CMAs provide information on comparable home sales in your area, both pending and sold, within the past six months.

While an agent will always have the best information, you can also try our automated value estimate tool as a starting point. Our seller page features home values and market information about what buyers are looking for in your area.

 

4. Repair & upgrade

Now it’s time to get to work on the house! This is the perfect time to tackle any and all outstanding projects or repairs. Create a list separating which repairs can be done yourself and which need professional attention. This is the time to consider a pre-sale home inspection to identify structural and mechanical problems before your home is on the market.

 

5. Make the best first impression

Making an impactful first impression goes a long way in the minds of buyers, so roll up your sleeves and prepare to check off that to-do-list. Start by cleaning up the garden and lawn, clearing out gutters, and adding color to your flower beds. Apply a fresh coat of paint anywhere you spot peeling or cracked paint. A great way to make an impact is by staging your home, with the goal of making each room feel as spacious and welcoming as possible.

 

6. Show your home

Your local pandemic-era regulations will dictate the ability for agents to conduct in-person showings and open houses. Discuss virtual home tour options with your agent and other ways to generate maximum buyer interest. For in-person showings, it’s best that you leave the premises so the buyer can freely ask their agent questions and visualize the home as their own. In Seattle, options are beginning to open up for showings of 5 people in the home at a time (one of which being a licensed agent).

 

7. Offers & negotiation

If you are in a seller’s market—defined by low inventory and high buyer competition—it is likely that you will receive offers at – or above – asking price. You can respond to an offer by a) accepting the offer, b) making a counteroffer, or c) rejecting the offer. Counteroffers should always be made in writing and provide a short window of time for the potential buyer to respond. If you are selling in a buyer’s market, you may have to be more open to negotiation. Discuss negotiation strategies with me or your agent to work toward a satisfying final price.

 

8. Prepare for closing costs

There are costs throughout the selling process, and as the close date approaches, that remains true. Be sure to budget for your real estate agent’s commission, and other common seller’s costs like title insurance, recording fees, and government transfer tax, among others.

 

9. Home inspection

Buyer offers are usually contingent upon a professional home inspection. Ask me or your agent for a home inspection checklist, so you know what the inspector is looking for ahead of time. They typically inspect the home’s foundation, structure, roof, plumbing and electrical systems, floors, windows, doors, and more for signs of damage and weathering.

 

10. Closing time

Congratulations! Your home is sold, but there are still some final steps before the deal is done. This is the time to ask the buyer to release any contingencies, sign the title, and close escrow before handing over the keys. Consult me or your real estate agent for any questions about legal documentation and settlement costs.

 

If you’d like more information about selling your home, I am more than happy to help!


This post originally appeared on the Windermere.com Blog


Posted on October 9, 2020 at 11:48 pm
Karen Prins | Posted in Buying a Home, Selling a Home | Tagged , , , , ,

Local Market Update – August 2020

While the pace of daily life may seem slow right now, the
local real estate market has had an unusually busy summer. The number of
new listings in July was up, sales increased, and home prices followed
suit.

• While overall inventory is at historic lows, more sellers put their homes on
the market. New listings of single-family homes in King County jumped more than
25% from a year ago. Snohomish County saw a 7% increase in new listings.

• Pent-up buyer demand fueled sales activity in July. The number of pending
sales was up 17% over a year ago in King County, and up 13% in Snohomish
County.

• With buyers snapping up new listings as soon as they hit the market, total
available inventory dropped to a 10-year low for the month.

• The lack of inventory is benefiting sellers, and multiple offers are now common
at every price point. As a result, single-family home prices rose 7% in King
County and 15% in Snohomish County.

The charts below provide a brief overview of market activity. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on August 11, 2020 at 11:54 pm
Karen Prins | Posted in Buying a Home, Local Market Update, Local Real Estate News, Selling a Home | Tagged , , , , , , , , , ,

Buying with Your Pets in Mind

Image source: Canva

 

For many of us, pets play a central role in our home life, so taking into account what is best for them when buying a home is important for both their happiness and that of your entire household.

 

Your neighborhood

 

When looking for homes that are well suited to both you and your furry companion, consider the area surrounding the home. If your pet is an indoor/outdoor animal, it’s important to examine the hustle and bustle of the neighborhood. If your pet spends time outside, a busy neighborhood could be dangerous, and depending on the level of traffic, he or she may need to be on a leash at all times.

 

How conducive is the neighborhood for taking your pet on walks? If you frequently walk your pet, look for neighborhoods with sidewalks. If your pet enjoys being off-leash, consider prioritizing homes with green belts, parks, trails, or designated off-leash areas nearby. It’s also a good idea to identify where the local emergency pet centers and veterinarian clinics are to insure there is sufficient medical care for your pet in proximity to where you live.

 

Your House

 

  • Size: Is the house big enough? Depending on the type of pet, or breed of animal, space may be the most important factor in picking a pet-friendly home. If you are moving into a bigger space than you were in previously, understand your pet will likely take to the additional room differently. On the flip side, if you are downsizing, be mindful of how it might impact your pet.
  • Yard: If you have a pet that spends time outside, it’s important to pay particular attention to the yard. Is it large enough? Does it have a secure fence? Is there easy access between the home and the yard?
  • Flooring: Pet-friendly flooring can be tough. Surfaces that can be repaired or refinished when scratched are typically the best options for homes with pets. Sealing additional layers will build up the resistance to damage from paws, claws, and general pet wear and tear.
  • Carpet: Cats are notorious for clawing and scratching at carpet, and dogs are infamous for bringing the outdoors in with them. Consider carpeting of a lesser quality in the area where your pets spend most of the time, or search for carpets that are stain resistant and easy to clean.
  • Stairs: Older pets and multileveled homes are at odds. Consider the age of your pet and how active you expect them to be so that you don’t find yourself in a position where you’re having to carry your pet between floors.

 

HOA?

When looking at a home, ask whether or not it is a part of a Homeowners Association and what restrictions may apply to the property. For instance, certain HOA developments limit the number and/or type of pets per household.

 

Most pet owners take the needs of their pets seriously. In fact, in a recent Realtor.com survey, 75 percent of the respondents said they would not accept an otherwise perfect home if it didn’t meet the needs of their pet. When it comes down to it, prioritizing your pet when buying a home not only insures your pet’s well-being, but that of your household, as well.

 


This post originally appeared on Windermere.com Blog


Posted on August 2, 2020 at 1:29 am
Karen Prins | Posted in Buying a Home, For Your Home | Tagged , , , , , , , ,

Local Market Update – April 2020

 

Windermere is focused on keeping our clients and our community safe and connected. We’re all in this together. Since the early days of COVID-19, our philosophy has been “Go slow and do no harm.” While real estate has been deemed an “essential” business, we have adopted guidelines that prioritize everyone’s safety and wellness.

Like everything else in our world, real estate is not business as usual. While market statistics certainly aren’t our focus at this time, we’ve opted to include our usual monthly report for those who may be interested. A few key points:

  • The monthly statistics are based on closed sales. Since closing generally takes 30 days, the statistics for March are mostly reflective of contracts signed in February, a time period largely untouched by COVID-19. The market is different today.
  • We expect that inventory and sales will decline in April and May as a result of the governor’s Stay Home order.
  • Despite the effects of COVID-19, the market in March was hot through mid-month. It remains to be seen if that indicates the strong market will return once the Stay Home order is lifted, or if economic changes will soften demand.

Every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

Stay healthy and be safe. We’ll get through this together.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on April 14, 2020 at 10:52 pm
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , , , , , , , , , , , ,

Local Market Update – March 2020

The novel coronavirus (COVID-19) has not yet dampened demand in the housing market. Traffic at open houses remains heavy. Buyers who had waited last year for a drop in prices have now seen several months of home prices increases. With demand far outstripping supply and record low interest rates, the market heading into spring looks hotter than ever.

EASTSIDE

Buyers that may have been in wait-and-see mode at the end of 2019 jumped off the fence in February. Pending sales (offers accepted but not yet closed) jumped 27%, snapping up already-tight inventory. 55% of homes on the market sold in 15 days or less. The median home price jumped 9% over a year ago to $985,000, an increase of $58,000 from the prior month. Development on the Eastside continues to surge and includes the recent groundbreaking for a 600-foot tower in Bellevue and a proposed 11-acre mixed-use project.

VIEW FULL EASTSIDE REPORT

KING COUNTY

The tight housing market here got even tighter. There were 40% fewer homes on the market in King County in February than there were in January. The median home price rose 3% over the prior year to $675,000, up from $630,525 in January. With mortgage rates and the local unemployment rate both hitting record lows, demand isn’t likely to drop any time soon.

VIEW FULL KING COUNTY REPORT

SEATTLE

With just six weeks of available inventory, competition for homes in Seattle remains fierce. Multiple offers were the norm, and 34% of homes purchased in February sold for over the listing price. The median price for a single-family home in February was $730,500, unchanged from a year ago and up from $719,950 in January.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

The numbers in Snohomish County tell the story. There were 42% fewer listings in February than a year ago, and 42% more pending sales. With inventory at under a month of supply, there just aren’t enough homes to meet demand. That scarcity translated into higher prices, with the median price of a single-family home rising 8% over a year ago to $515,000.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on March 12, 2020 at 10:48 pm
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , , , , , , ,

Local Builder Brings New Townhome Communities to Bellevue & Kirkland

Bellevue-based builder Quadrant Homes has introduced two new communities in Kirkland’s Totem Lake neighborhood and Bellevue’s Spring District. Featuring rooftop entertainment spaces, plenty of windows for natural light, and the latest home tech (including electric vehicle charging and whole-home voice control), these exciting new communities are sure to satisfy buyers.

 

Minutes from The Village at Totem Lake, the Lake Washington School District, and Google and Tableau campuses, the Vareze community promises convenient access to work and play plus open floor plans, in-home tech offerings and community spaces. Select floor plans are now available with more options coming soon.

 

 

 

Debuting in March 2020, the Lario community will be part of Bellevue’s Spring District, surrounded by beautiful parks, shopping and plenty of restaurants. Ranging from 2 to 4 bedrooms, each residence is complete with a 2-car garage and the community boasts its own park and rooftop entertainment spaces.

 

These townhomes offer buyers proximity to plentiful amenities and transit opportunities — from highways to walking trails and the future light rail stations. In booming Eastside neighborhoods where inventory is already low, these communities are sure to be welcome additions!

 

Reachout it you want to view these beautiful homes! karen@karenprinsrealestate.com 

 


A version of this article was first published on 425 Business and GettheWReport.com


Posted on February 27, 2020 at 10:32 pm
Karen Prins | Posted in Buying a Home, Local Real Estate News | Tagged , , , , , , , , ,

Local Market Update – January 2020

2019 ended with too many buyers chasing too few homes. December marked the sixth straight month of declining supply. The severe shortage of homes, historically low interest rates, and strong job growth are predicted to keep the local housing market strong in 2020. In a region starved for inventory, sellers can expect significant interest in new listings.

EASTSIDE

Homes sold briskly on the Eastside in December in all categories, including the luxury market. The number of listings were down nearly 50% from a year ago and the area had under a month of available inventory. That lack of inventory helped bump the median price of a single-family home up 4% from a year ago to $949,000, which is a $49,000 increase from November.  New large scale developments and a strong economic forecast indicate that the housing market will remain healthy.

VIEW FULL EASTSIDE REPORT

KING COUNTY

King County continues to be a seller’s market. Inventory in December was down nearly 40% compared to a year ago and ended the month with below one month supply. The median price of a single-family home rose 6% over the prior year to $675,000, up slightly from November. More affordable areas saw much higher increases. Southeast King County – which includes Auburn, Kent and Renton – saw home prices jump 16% over the previous year.

VIEW FULL KING COUNTY REPORT

SEATTLE

Numbers tell the story in Seattle. Inventory was down 25%, while the number of closed sales increased 19%. Strong demand here has kept the housing market solid, with prices fluctuating slightly month-to-month for much of 2019. The median price of a single-family home sold in December increased 2% from a year ago to $727,000. That was slightly down from $735,000 in November.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

While the median home price in Snohomish County is less than that in King County, the gap continues to close. Buyers willing to trade a longer commute for a lower mortgage have kept demand and prices strong. Inventory here was off 36% in December as compared to a year ago. The median price of a single-family home rose 9% over a year ago to $510,000, an increase of $15,000 from November.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on January 15, 2020 at 7:27 am
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , , , , , , ,

How Reliable Are Home Valuation Tools?

 

What is your home worth?

 

It seems like a simple question, but finding that answer is more complicated than it might seem. Sites like Zillow, Redfin, Eppraisal, and others have built-in home valuation tools that make it seem easy, but how accurate are they? And which one do you believe if you get three different answers? Online valuation tools have become a key part of the home buying and selling process, but they’ve been proven to be highly unreliable in certain instances. One thing that is for certain is that these valuation tools have reinforced that real estate agents are as vital to the process of pricing a home as they ever were – and maybe even more so now.

 

There are limitations to every online valuation tool. Most are readily acknowledged by their providers, such as Zillow’s “Zestimate”, which clearly states that it offers a median error rate of 5%, with varying accuracy across the country. That may not sound like a lot, but keep in mind that amounts to a difference of about $35,000 for a $700,000 home. For Redfin and Trulia, there are similar ranges in results. When you dig deeper into these valuation tools, it’s no small wonder that there are discrepancies, as they rely on a range of different sources for information, some more reliable than others.

 

Redfin’s tool pulls information directly from multiple listing services (MLSs) all over the country. Others negotiate limited data sharing deals with those same services, but also rely on public records, as well as homeowners’ records. This can lead to gaps in coverage. These tools can serve as helpful pieces of the puzzle when buying or selling a home, but the acknowledged error rate is a reminder of the dangers of relying too heavily on them.

 

Home valuation tools can be a useful starting point in the real estate process, but nothing compares to the level of detail and knowledge a professional real estate agent offers when pricing a home. An algorithm can’t possibly know about a home’s unique characteristics or those of the surrounding neighborhood. They also can’t answer your questions about what improvements you can make to get top dollar or how buyer behaviors are shaping the market. All of this – and more – can only be delivered by a trusted professional whose number one priority is getting you the best price in a time frame that meets your needs.

 

If you’re curious what your home might be worth, Windermere offers a tool that provides a series of evaluations about your property and the surrounding market. And once you’re ready, I am happy to clarify this information and perform a Comparative Market Analysis to get an even more accurate estimate of what your home could sell for in today’s market. Reach out if you’d like to chat:

Karen Prins Contact Info:
Windermere / Yarrow Bay
3933 Lake Washington Blvd NE

Suite 100
Kirkland, WA 98033

 


This post originally appeared on the Windermere.com Blog


Posted on January 6, 2020 at 10:29 pm
Karen Prins | Posted in Buying a Home, Marketing, Selling a Home | Tagged , , , , , ,

Local Market Update – December 2019

Favorable interest rates and soaring rents boosted activity in the housing market in November. More buyers competing for less inventory kept home prices strong. With the supply of homes far short of demand, sellers can expect well-priced properties to sell quickly this winter.

EASTSIDE

With just over a month of available inventory, demand on Eastside remains very strong. Sales are brisk, with 45% of single-family homes selling in 15 days or less and 20% of homes selling for over list price. The median single-family home price in November rose 2% from a year ago to $900,000 and was unchanged from October.

VIEW FULL EASTSIDE REPORT

KING COUNTY

With more buyers vying for fewer homes, King County remains a solid seller’s market. While inventory traditionally shrinks in the winter, this November saw the number of new listings at historic lows. Demand was strong, with the number of closed sales up 12% over the same time last year. The median home price ticked up 3% over the prior year to $661,000 and was unchanged from October. The strong market sent prices higher in the more affordable price ranges, with some areas in South King County seeing double-digit increases.

VIEW FULL KING COUNTY REPORT

SEATTLE

Activity in Seattle was very strong in November. The number of closed sales was up 29% over the same time last year. With just over one month of homes available for sale, the city is starved for inventory. Seattle homes prices have ebbed and flowed slightly from month to month for much of this year. The median price of a single-family home sold in November was off 3% from a year ago to $735,000.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

With an increasing number of buyers driving to affordability, the Snohomish County housing market remains robust. Inventory is very tight and continues to fall. The county finished November with just over one month of supply. The median price of a single-family home rose 5% over a year ago to $495,000. That figure is unchanged from October.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on December 17, 2019 at 8:20 am
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , ,

Local Market Update – November 2019

A steady influx of buyers continued to strain already tight inventory throughout the area in October. Home sales were up, as were prices in much of the region. With our thriving economy and highly desirable quality of life drawing ever more people here, the supply of homes isn’t close to meeting demand. Homeowners thinking about putting their property on the market can expect strong buyer interest.

EASTSIDE

As the Eastside continues to rack up “best places” awards, it’s no surprise that the area is booming. Development is on the rise, fueled primarily by the tech sector. The appeal of the Eastside has kept home prices here the highest of any segment of King County. The median single-family home price in October was stable as compared to the same time last year, rising 1% to $900,000.

VIEW FULL EASTSIDE REPORT

KING COUNTY

King County’s 1.74 months of available inventory is far below the national average of four months. Despite the slim selection, demand in October was strong. The number of closed sales was up 5% and the number of pending sales (offers accepted but not yet closed) was up 11%. The median price of a single-family home was down 2% over a year ago to $660,000. However, some areas around the more reasonably-priced south end of the county saw double-digit price increases.

VIEW FULL KING COUNTY REPORT

SEATTLE

Seattle home prices took their largest year-over-year jump in 12 months. The median price of a single-family home sold in October was up 3% from a year ago to $775,000, a $25,000 increase from September of this year.  Seattle was recently named the third fastest-growing city in America.  Real estate investment is surging. A growing population and booming economy continue to keep demand for housing –and home prices—strong.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

Both the number of home sales and home prices were on the rise in Snohomish County in October. Overall homes sales increased 7%, and the median price of a single-family home rose 5% over a year ago to $495,000.  Supply remains very low, with just six weeks of available inventory.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on November 16, 2019 at 1:59 am
Karen Prins | Posted in Buying a Home, Local Market Update, Real Estate Investing, Selling a Home | Tagged , , , , ,