Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 7, 2021

What is a Real Estate Glamour Shot?

So what's a real estate glamor shot? No, it is not the glamor shot like you're thinking, where you go to the mall and dress up and get your photo taken. The real estate glamor shot is actually the first shot of the home or a series of first shots of the home that actually show the home off to the best of its ability. It's what every single buyer will fall in love with when they look at the home online. This is why it's so important as a seller to have really great leading photos, glamor shots, that help attract buyers into your home.

Now, why do buyers need to beware will you need to beware? Well you need to beware because when you fall in love with that glamor shot and you've seen all the staging, all of the makeup on the property, when you go back for your final walkthrough, three days prior to closing, all of that is going to be gone. The lights are no longer on, the sky is not painted with a sunset. There's no fluffy pillows and couches that are smaller in size to make it look really glamorous. It is all empty. There may be, you know, marks on the wall. There could be something happening with the sink. All of those things you have to verify during the final walkthrough. But the point here is that it's going to look very very different than when you first saw it. If it has staging in it and it was a glamorous leading photo.

So buyers beware things are going to change. You're going to look at the home a lot differently without the furniture. And you need to be aware that when you are first looking at it, you're seeing it in the most glamorous way that it can be presented. So be aware, do the final walk-through, just be prepared to see the home in a very different way. Hopefully you're already envisioning your own things in that home.

Thanks for tuning in. If you like videos like this, please like, comment and subscribe. We'd love to have you follow along. So you can hear more about the real estate market and learn more about real estate in general. If you know someone who is thinking of buying or selling and would like this video, please share it with them. And we are always here to talk if you want to talk about the strategies to win as a buyer or a seller in our market. Thanks for tuning in. We'll see you next week.

Posted in Home Buying
May 31, 2021

The #1 Question Sellers Should be Asking!

What's the number one question that you need to be asking as a seller right now? The number one question you need to ask your agent is how are you going to market my home? This is the most important question you can ask right now because so many agents, not only in the Seattle market, but across the nation, think that all they need to do is put a sign in the yard and put the lockbox on the door and the home is going to sell. That is not the case. Just because we're in a hot market does not mean that the home is going to sell right away.

So you must ask, how are you going to market my home? The presence, the digital presence of your home online, as well as the presentation in person, are the two most important factors in the marketing and the two most important things that are going to net you, as the seller, the most money. Some sellers prepare months and even years to get their home ready for market and agents need to be ready to come in and market the property accordingly to make sure that your home shows the best it possibly can and attracts the most buyers in. Just because it's a hot market does not mean your home is going to sell with just a yard sign and a key box. Keep that in mid and make sure you ask the number one most important question to your agent.

If you want to know more about buying or selling in our market and our strategies to get your home sold quickly and for the most money, don't hesitate to reach out. We'd love to talk to you. If you know someone else who's thinking of buying or selling, send this video to them if you think they might find it helpful. And as always, if you like our content, please like, comment and subscribe. We'd love to have you along. Thanks for tuning in. We'll see you again next week.

Posted in Home Selling
May 24, 2021

Why you Should Submit That Offer!

So, this buyer walks into our open house, and they tell us that their agent told them not to submit an offer on the property because they wouldn't be competitive enough if they needed a longer closing date. Now, what is the point in that? You're just defeating yourself from the start.

Now don't get me wrong. If you are in a really competitive situation and your agent tells you that you're not going to be competitive because of price or your terms, and they know that there are other offers coming in, then yes, it may not be the right decision for you to submit an offer. But in our market right now, the market is changing week by week, different houses are getting a different number of offers each week.

And so by having a client who wants to submit an offer who loves the house and is told not to do so because they might have one thing that's often their offer, can really defeat them, when in reality, the agent doesn't know how many offers are coming in, or if it's going to be competitive. In this specific scenario, this home didn't get any offers on the review date. And that buyer could have been in contract for that home had they just submitted the offer.

The point here is that buyer was already told no by their agent before even trying. There's actually no harm in trying, if you don't know if the home's going to be competitive. If you don't know that there are 10 other offers coming in, then why not submit an offer and try to get into contract if you really do truly love the home, and the rest of your offer will be competitive.

Now, by not submitting that offer that buyer lost out on the opportunity. And again, I'm not saying that if you know that it's going to be super competitive and you're not willing to pay the price to submit an offer anyway, I'm saying that if you don't know it's going to be competitive, and you don't know what it's like in the market for that specific home, then why not try? There's no harm in trying. Don't let your agent talk you out of trying if you don't even know how competitive the home is going to be, or what's going on.

The market here is changing week by week, that's why we track it week by week. And it's super important to work with someone who is in the market every week, looking at houses understanding what homes are selling for, and how many offers they get. If you have any questions about buying or selling real estate, we're here to help, we'd love to hear from you, make sure you comment, like, and subscribe to our channels and share this video with someone, who you know, might find it useful, we'd love to hear from you, thanks for tuning in, we'll see you next time.

Posted in Home Buying
May 17, 2021

What is Proof of Financing?

So, do you know what proof of financing is? And has your real estate agent attached it to your offer when they send your offer to the listing agent? And more importantly, does your lender actually update your proof of financing when you make an offer? Those are really good questions that you need to know as a buyer.

So, what is a proof of financing, first of all? Proof of financing is a letter that your lender provides that shows the type of loan that you're going to get. It's a pre-approval letter or a letter that shows that the lender has done their due diligence thus far and that you can actually get the loan that you've been approved for. Now, that proof of financing is something that needs to be included when you submit your offer to a listing agent who represents a seller. Because if you do not include that, they're not going to take your offer seriously. They're going to wonder who are you pre-approved with, what bank, how much can you afford, and has the lender actually done their due diligence to make sure that you can afford that.

Now, on top of that, your lender needs to be actively involved in this process as well because they should be providing a new pre-approval letter for each property that you make an offer on. So, if you made an offer last week on 123 Main Street, you cannot use the same pre-approval letter for this week when you make an offer on 123 Yellow Street. You want the proof of financing to actually represent the property address that they've done their research because taxes can be different by different properties. The price point can be different. They especially need to pay attention to the price point. If you are offering up to $700,000, you don't want your pre pre-approval letter or your proof of financing to say $750,000 because then the seller knows you can actually afford more than what you're offering. So, your lender needs to be actively involved in making sure you understand that and that your dollar amount matches the offer you're actually making.

Your lender should also be breaking down those numbers for you so that you know exactly what you'd pay month to month on that property. So, if your realtor is not including that letter with your offer and if your lender is not helping you understand each of those numbers, the different payments for different homes, and not updating that letter, it's time to find a new team to work with.

If you have other questions about proof of financing or pre-approval, give us a call or text or DM. We are here to help you. If you have any other questions, we'll certainly help you in terms of buying strategies or selling strategies in this competitive market. If you like videos like this, be sure to subscribe to our YouTube channel, and don't forget to like, comment, and subscribe. We'd also love for you to share this video with a friend if you know anyone who might find it useful. Thanks for tuning in. We'll see you again next week.

Posted in Home Buying
May 10, 2021

What is Buyer Fatigue

So do you know what buyer fatigue is? No, it's not when buyers get sick. Buyer fatigue is something that happens actually quite often in our market. When the year starts, buyers typically get really excited. They say, this is the year I'm going to buy a house and I'm gonna go out and start looking. At the beginning of the year, we also see the least number of homes listed. And therefore there is the most competition. And so what's happening is that all of these buyers are making offer after offer, and most times not winning unless you get really lucky because it is so competitive. And so they lose, lose, lose, lose, and then they encounter something called buyer fatigue.

This is when they're fatigued by the market. They feel defeated. They don't think they're ever going to get a home. They don't wanna wait any longer but they feel like there's no other option. They almost have to wait for the market to slow down in order to actually find a home that they can purchase successfully. It's really interesting in our market because this happens pretty frequently each year. It doesn't happen frequently throughout the year. It actually happens at a very specific time each year when the market is really competitive. It happens right after the market gets so competitive that everyone is losing.

And then we see all these homes come onto the market because the sellers are now ready to sell, which is exactly what is starting to happen right now in our market. We're seeing a ton of homes come on, which is great news for buyers. But the buyers that have been competing for the last month are feeling very fatigued because they haven't been able to win anything. And so they make decisions like let's take a break in our search, let's rent for another year, and then the cycle starts over. So buyer fatigue is a very real thing. We're starting to see the first signs of it. And that's why we track the market week over week to see what exactly is happening. But sellers, you should be aware that buyer fatigue is real, and you have to be very careful about how you price your home and how you present it when buyers are starting to get fatigued.

That's buyer fatigue for you. If you have any other questions about buying or selling in this market, or if you're feeling fatigued, reach out to us. We can certainly help you, give you strategies to help make sure you're winning the home that you truly want. And sellers, we'll help you strategize on the best price for your home during a market where we're starting to see buyer fatigue. Hey, if you liked this video or you know someone who might find it useful, we'd love to have you like, comment and subscribe, and share it with a friend who you think might love it as well. Thanks for tuning in. We'll see you again next week.

May 3, 2021

Does Realtor Experience Matter?

Hey there. So I hear all the time that people are shopping for brokers to help them buy or sell and the years of experience is the most important factor that they take into consideration. Now, that is a really good factor. Generally speaking, the more years of experience a broker has, the better equipped they could be to actually help you with your purchase or sale.

But what I do caution you to think about as well is not only years of experience but how many homes has that broker actually helped people buy or sell in those years of experience. For example, you may have a broker like me who only has five years of experience, but in all five years, I may have sold a total number of homes that's much greater than someone who has 15 years of experience, but is only selling a couple homes per year.

Now, the thing you're looking for with experience is transaction, right? The number of transactions that that broker has been through because that will expose them more to the market. And I would argue that a broker who's been exposed to more of the market more frequently in the year you're looking is probably going to be a better asset to you and your sale than someone who maybe has been in the business longer but isn't quite as active in the market.

So before you actually decide your broker, you might want to ask how many transactions are they doing and how can that be used to your advantage as a buyer or a seller? So think about years of experience but also be careful because you want to think about the number of transactions that that broker has done. I hope that helps you figuring out who you're going to hire as your next broker. If you have any questions about buying or selling real estate, we offer a free home buyer and home seller consultation where we will prepare you better than anyone in the market to get your home ready for sale or get you ready to buy. We'd love for you to like, comment and subscribe on this post and share it with someone who you think might be shopping for a broker. Thanks for tuning in. We'll see you again next week.

April 26, 2021

Where to Find Neighborhood Crime Stats

So you're shopping for a home, or maybe you're selling your home, and you wanna know what crime is like in the neighborhood. So I, as a real estate broker, cannot tell you about crime or lead you to any demographic information about the neighborhood that you're looking in, but one of the best websites to go to is spotcrime.com. You can go on their interactive maps, and they have little emojis that tell you all about different types of crime that are happening in the neighborhood. So you can see vandalism or theft. You can see robbery. You can also see things, like, if there's a shooting or anything like that, and it has little emojis in the neighborhood where you might be shopping. It's one of the best resources you can use to figure out what crime is like in the neighborhood that you may be shopping in, or in your neighborhood if you're thinking about selling.

There you have it, a little tip for when you're shopping or selling to figure out the crime in the neighborhood that you're looking in. If you have any other questions about shopping or about selling your home, we're here to help and we'd love to speak with you. You can call, text, direct message us, or just like this post or share it with someone who you think might find it helpful. We'd love to have you do that. If you have questions about buying or selling in this market, we're here to help. We offer free buyer and seller consultation. It's no cost to you, and we will prepare you better than anyone else on how to get your home ready for sale or how to get yourself ready to buy a home. Thanks for tuning in, we'll see you again next week.

Posted in Home Buying
April 19, 2021

3 Places to Go When you Sell

So if you've been following the market, you know that now is one of the best times in history to sell your home. But, when you sell your home, where should you go? Today, I'm gonna give you three options of where you can go when you sell your home.

First and foremost, if you sell your home, you could move to a rental. There are rentals available. A lot of them are 12 months and you could move into a rental and actually start paying rent because you may be cashing out a huge amount of equity when you sell your home right now.

The second option, if you sell your home, is actually to look at new construction. Sometimes when you look at new constructions, specifically townhomes, or maybe stuff that is not built yet, you will have a longer time period to actually get your home sold before you need to move into your next home. And some builders, if they don't have a ton of demand right now, will even accept a contingent offer. Meaning that the offer could be contingent upon you selling your home. So new construction could be a great place to look.

And third, you could start looking at condos. Maybe now is the time to downsize. And the condo market is not quite as competitive as single family homes. So you could look at condos as an option to buy as you're downsizing from your home when you're selling. So there you have it.

Might not work for you but those are three options you have, if you decide to sell your home in this market. Which is one of the best markets to sell your home in. If you have any questions about selling your home or where you might want to go next, we're here to help and more than happy to advise you on how to get the highest price in the shortest amount of time. We'd love to hear from you. So don't hesitate to call, text, direct message us or just like this post. And if you know someone who's thinking about selling, make sure to share this post with them. We'd love to have you do that. Thanks for tuning in. We'll see you again next week.

Posted in Home Selling
April 12, 2021

How to Net More Money on your Home Sale by Making your Home Look New

So if you've ever taken your clothes to a consignment store to try to sell them back so someone else can buy them, and you've gone in, and they hand select which items they're willing to take back. That's because they know that their buyers are not going to want all of your clothes. And they're certainly not gonna want the ones that don't resell well.

Well, it works the same exact way with real estate. Yes, it is your home. We know it's a special place for you, but buyers are not looking for your home. They're looking for a home for themselves that's going to be a special place for them. And when you, as a seller, don't make your home look brand new, then it's not going to sell for as much money as if you did make it look brand new. Buyers want to walk in, and feel like it's their home, like it's a new home that they're buying.

I see this all the time with sellers. They ignore little details because they think that it's something that other buyers will want, because it's something that they wanted in their home. That's not the way it works. Buyers want something brand new. They want something for themselves. And not every home we sell is new, obviously. We are reselling a lot of homes, but you need to strive to make it look as new as possible by not ignoring the details. You need to fix the carpet. You need to paint it again, because you've already lived in it with that paint. And it's highly likely that the paint has chipped, or it's faded, or it's not as good as it was when you first moved in. You have to think back, as a seller, you have to think back to when you first bought it, and remember walking in, and how great it felt because it was this new home, and you could envision yourself there.

That's the same exact thing we want to do for other buyers who are walking into your home. So don't forget, you have to make your home brand new. You have to make your home like that clothing item that's going to resell at the consignment store, and therefore you get more money for it from the consignment store when they buy it back from you. You have to make sure that you don't ignore those little details. Make your home look as new as possible. And that is how you're going to net the most money on your home sale.

Thanks for tuning in. Hope you like this video series. If you do, don't forget to hit the Subscribe button, and always make sure to like, comment, and Subscribe to our channels. We'd love to hear from you. And if you know someone who's thinking about selling, don't hesitate to share this video with them. We'll see you next week.

Posted in Home Selling
April 5, 2021

How to Stage your Home for a Quick Sale

 

So, you all probably know it. And if you don't, here's your sign. When you stage a home, it's going to sell quicker because people can actually envision themselves in the home. So many buyers and even renters have little ability because they're not in unstaged homes all the time to envision themselves in the home. And what staging does is it gives them a vision of what they could be living like in that home.

So, first and foremost, you have to stage to envision their life. The way that you position the furniture is going to help this. So, couple of things. You do not want the couch pushed up against the wall. Everyone thinks that, "I need to push the couch "up against the wall to make the room look bigger." In fact, you will trick the eye by pulling the couch away from the wall and make the room look bigger by having it a little further away. The same goes with seating areas. You wanna create little vignettes or seating areas where people can feel cozy and comfortable, envision themselves reading a book or doing something in that area where it's just a couple of chairs and it feels like a bigger space because there are multiple zones throughout the house where they could actually spend time.

Now, another part of envisioning and positioning furniture is light fixtures. So, if you have the ability or already have a chandelier, you wanna make sure that it's above the dining room table. Now, a lotta people, they put their chandelier way too high above the dining room table, when in fact where you want it is down closer to the table because you want that ambient lighting at the table when you're actually sitting there. You wanna be able to look up and see the chandelier when you're sitting at the dining room table. Now, when you're looking at this space as a buyer, you'll be able to see the room around that chandelier and be able to see the space that it creates by having it right above the table.

The other thing you want to make sure you're doing is including art in the space. Now, if you don't have the ability to hang art, you need to find ways to lean it in certain specific strategic places so that you have some art on the walls and bring some life into the home. You also wanna feature the home's natural features. So, if you have really gorgeous windows or you have a great nook on the side, you wanna make sure you feature those spaces so the buyers can really enjoy them. Last but not least, not all buyers like color, and the person walking through your space may not like color. So, you really need to pay attention to use very little color, maybe just white or neutral colors in your space, because this is going to turn the fewest people off as they're walking through your home.

So, there you have it. Those are a few tips for staging your home for a really quick sale. If you have more questions about staging your home or getting top dollar for selling your home, you can always reach out to us. We're ready to help you, and we will get your home sold for top dollar in this market. Thanks for tuning in. If you like videos like these, please comment, like, and subscribe. And don't forget to subscribe to our YouTube channel. We hope you'll come back next week to see the next one. Oh, hey; if you know someone who might find this video useful, be sure to send it on to them. We'd love to have you share this video with someone that you know it can help.

Posted in Home Selling