Seattle Spring Adventures

With the unusual nice weather we are having this Spring, I have been spending a lot of time outside, and feel inspired to offer some of my favorite Seattle Spring time adventures.

1.  Skagit Tulip Festival

The days are longer and brighter, and with the darker skies are almost behind us I find myself appreciating all of the colors this season has to offer.  

The Skagit Tulip Festival is happening right now starting April 1st - April 30th. Pricing varies based on which gardens you choose, and parking tends to be free. Weekends are very crowded, so the best time to go is during the week.  

Here you go:  Skagit Tulip Festival

2.  Farmers Markets

What a fantastic way to eat local fresh food, and to support local businesses.  Farmers markets in the Seattle area tend to run anywhere between May through September.  Food education is a big thing in Seattle, and buying from a local farmer is a great way to teach yourself, and your kids about where our food comes from.  

Here you go:  Farmers Markets

3.  Pacific Science Center - Lego Exhibit

Last but not least, The Art Of The Brick exhibit coming this May to the Pacific Science Center.  For all of my lego geeks, this one is for you!  Pricing varies amongst members and nonmembers, so definitely check out whether it is worth it or not to become a member.  

Here you go:  Lego Exhibit

The finest compliment I may ever receive is a referral from friends and clients.  Thank you!

Spring Forward - 3 Tips To Refresh Your Home

We are approaching that time where we want to shake off the winter dust. It is very exciting that Spring is just around the corner. Cleaning your house for the Spring will help you feel organized, and accomplished.  It's no surprise Spring time becomes a busy Real Estate season.

Here are three great tips!

Everything Has A Home

Go through your closets and dressers to see if there are any clothes you are ready to donate.  Rule of thumb is you haven't worn something in six months to a year (depending on what it is), you probably don't love it.  Ask yourself if it is something you would buy today.  Maybe is not a yes!  

Go through all of the bathroom drawers, and pull everything out from under the sink.  Evaluate whether or not you want to throw things away, and have storage containers for the things you are going to use or need down the road.  

Freshen Up

Take all of your sheets, pillow covers, duvet covers and comforters, and wash everything in hot water.  Open up all of the windows and let in fresh air.  During this time it would be a good idea to have your carpets cleaned professionally. 

Don't forget about vertical spaces as well.  Use a mild detergent and wash all of the soot and dirt off of the walls, and dust any wood that is in sight.  Follow with a shine by drying the walls and all of your woodwork.  

Clean Your Appliances

The first step is to run a cycle with one cup of vinegar in a dishwasher.  Then sprinkle a bit of baking soda on the bottom of the washer and run it again (short cycles are fine here).  The vinegar and baking soda combined will clean out any food particles and leave it smelling fresh and clean.

Cleaning the coils under or behind your refrigerator is important because they can become clogged and overheat, eventually causing your refrigerator to stop working.  This is especially important if you have pets.

Be sure to check your manual on how to best clean the inside and outside of all of your appliances.  

If you are preparing your home to sell, please do not hesitate to call me!  I have many more tips to offer.  

"The finest compliment I may ever receive is a referral from friends and clients."  Thank you!

Low Inventory Causes Sellers To Pause

Low Supply Causes Sellers To Pause

Lately, it seems as if homeowners have gone on strike.  We currently have the lowest inventory since the last boom, which is just shy of a decade.  It is safe to say, the market is back!  With people moving to the Pacific Northwest from all over the world, I have no doubt in my mind that we will be the next Bay Area.  Why is this happening, and what will it take to bring more houses on the market for our high demand market?  

It is a vicious cycle of sellers wanting to pull the trigger, but having no idea where they will go.  I'm going to address how you can sell your home successfully without worrying where you are going next.  My first advice is to take it one step at a time, and do not jump ahead.  

1.  Negotiate a Longer Closing Time

For starters, you can take advantage of being in the driver's seat because most banks give buyers sixty days to move into their new home.  You can also ask your Realtor to extend the closing for two months.  This will give you time to find another house, and if you do not find one during that timeframe, it is best to have a backup plan where you would stay in temporary housing. It is essential to always have a backup plan, and your Real Estate Broker should be working with you on different strategies.   

2.  Equity Line of Credit

If you want to find your next home first before you sell your current house, you could talk to your lender about taking out an equity line of credit for your down payment.  Once this is secured, you can take your time finding a house, knowing your current house will sell quickly.  The caveat is that you must take out the equity line before you put your house up for sale as lenders will not give you a loan if you are trying to sell your house.  

3.  Use One Realtor

It is best practices to use one Real Estate Broker to sell your home, and to purchase your next home.  When you use one broker you are streamlining the communication process, and overall understanding of your personal goals, timelines, and deadlines.  Having to communicate all of this twice is simply adding more stress to an already very stressful process.  Bottomline, hire someone who is truly excellent, and more importantly someone who is emotionally trustworthy and who will be professional throughout your transaction.  

Having a competent, and reliable team is key!  

What Will It Take To Change?

The housing market tends to cycle between shortage and surplus.  Therefore, factors that impact supply and demand are interest rates, the economy, and consumer confidence.  When interest rates go up, buyers pull back, and ultimately confidence can go down.  At this point it will take interest rates to increase, and the economy to slow down in order for this market to shift.  Ultimately, this will lead to a transitional market where both buyers and sellers are on an equal playing field.  


"The finest compliment I may ever receive is a referral from friends and clients."  Thank you!

Rising Interest Rates - Puget Sound Region

Rising Interest Rates - What Does It Mean?

Recently we had our first rate hike in almost a decade, and rest assured they will continue to slowly increase over the next year.  This is actually good news!  

Housing is back, our economy is back, and jobs are on the rise.  The reality is that interest rate hikes impact regions differently across the country.  How will this increase affect the Puget Sound Region?

1.  Slower Real Estate Growth

Finally, a slightly more balanced market where buyers and sellers can work together, rather than the scale being unfairly tipped towards one side.  Buyers, do not get too excited, because demand is still strong, and there will only be a slight slowdown.  Housing values will not decrease, but the historic rapid increases are due to drop-off.  

2.  Local Economy

While we will see appropriate market adjustments, our thriving local economy and increased population growth can support future rate increases.  We have strong local companies, and it seems like everyone from around the world is learning about how wonderful it is to live in Washington State.  Lastly, banks will now profit from interest rates going up as the margins have been very slim in the past.  All in all, the slowdown will be slight, and it will take some time throughout the year.  Bottom line is that Washington State is well insulated from any kind of crash in the foreseeable future!  

3.  Local MLS  News And Statistics

Compared to a year ago, MLS figures show drops in the number of new listings added to inventory during November (down 4.6 percent) as well in the total number of active listings at month-end (down 26.5 percent).  We had the driest inventory we have seen in any December!

MLS Realtors reported 7,511 pending sales during November for a 10 percent increase from a year ago when they notched 6,821 mutually accepted offers. This simply displays that people are scooping up properties faster than they are available for sale.  

In King County, the median price for home sales that closed during November was $499,950, a jump of 13.6 percent from the year-ago figure of $440,000.  

The housing market is not going anywhere anytime soon, and there will not be a big crash like we have seen in the past.  But if I were a buyer looking in this market, I would try to act sooner than later so you're not paying a premium and a higher interest rate.

Happy House Hunting!

"The finest compliment I may ever receive is a referral from friends and clients."  Thank you!

Pacific Northwest Holiday Adventures

4 Things To Do During The Holiday Season

Now that December is here it is time to enjoy and appreciate some of the fun things to do during this holiday season. I have personally hand selected some of my favorite Pacific Northwest holiday outings that I think you will enjoy.

Here they are:

1. Trinity Tree Farm - Issaquah

Trinity Tree Farm is a local Christmas tree farm where you can have the holiday experience of cutting down your very own douglas fir.  Not sure if you want to engage in all of that hard work?  Don't worry, Trinity Tree Farm has a variety of freshly cut trees waiting for you!  Sip on delicious hot chocolate, cozy up by the warm fire, or say "cheese" while you get your picture taken with Santa.  There is no chance you will not love this holiday experience.  

*Small Tip:  The weekends are very busy, so try to go during the week to beat the crowds.

Check out:  Trinity Tree Farm

2. Zoo Lights - Tacoma

The kids love this one so be sure to bring the entire family! The tickets are inexpensive, parking is free, and you will be supporting a fantastic cause. Bundle up and enjoy the 3-D animal light displays, be adventurous and ride the carousel, and light up your hearts with the zoo's latest tiger cubs who will be on display "Berani" and "Dumai."

*Small Tip: Buy a combo pass if you are bringing multiple family members.

Check Out: Zoo Lights


3. Redmond Lights - Redmond

This is a celebration of the many different holidays and traditions, and it is a one of a kind educational experience you will not want to miss. Slowly stroll down Redmond Central and find yourself at the Luminary Walk, listen to live music and carolers, all while witnessing a beautiful tree lighting.

*Small Tip: Check the website before you leave for parking instructions.

Check Out: Remond Lights


4. Seattle Christmas Ship Festival

This is a classic Seattle Christmas tradition you will not want to miss. Sail around on the Argosy Cruise while listening to the onboard choirs singing Christmas carols broadcasting over a state of the art speaker system. The best part of all is that people bring their own boats all lit up for the celebration and follow suit for a wonderful parade along the Puget Sound.

*Small Tip: Book tickets well in advance because this one is popular, and they do sell out!

Check Out: Seattle Christmas Ship Festival

Happy Holidays!

Do's and Don'ts of Real Estate

Three Essential Buyer's Tips for a Smooth and Successful Close

Buying a home can be an emotional process, and having a plan that includes respect, patience and good communication can help ease those highly charged emotions and ultimately help you accomplish your goal of home ownership.

Here are three quick buyer’s tips that are proven to keep your transaction as smooth as possible:

1.  Be Respectful of Time

Selling a home isn’t easy and it’s important as a buyer to be respectful of the stress that selling a home can put on a family. Do your best to always be on time to showings, inspections, walk-throughs etc.

Quick Tip: Putting yourself in the seller’s shoes throughout the process is a good way to help keep emotions calm, cool and collected.

2.  Keep Your Eye on the Prize 

Home ownership can be a huge step towards financial stability, and finding the right home in the right community can help to provide a great life for you and your family. Once you’ve found “the” home, it’s important to keep your eye on the prize and not let the little things come between you and those new keys.

Time and time again I’ve seen buyers make the mistake of getting too emotionally charged over inconsequential things (i.e. “I will blow this whole thing up if the sellers don’t clean out the gutters.”).  Staying focused on the big picture to help you accomplish your ultimate goal.

Quick Tip:  A good real estate broker should be there for you throughout the entire process. It’s his or her job to help you get through the emotional times and keep you focused on the end goal. Do your research and pick a broker who can stay calm under pressure. 

3.  Do Your Research and Form a Great Team

You will want to hire an experienced broker who has a firm grip on the current market and how to put you in the best position to compete against other buyers. Do your research and ask tons of questions. Choosing the right broker can help you accomplish your goals on time, all while helping to make a stressful transaction a smooth one.

 

You will also want to hire a local and experienced lender, one who knows how to position you financially when it comes to purchasing a home in this competitive market. A good lender will also take the time to sit down and discuss all the available lending options, helping you make the best decision for your financial future.

Lastly, you will need a reputable home inspector to give you peace of mind that you’re purchasing a well-built, safe home. Search for reviews on line and/or ask your broker for recommendations.  

Quick Tip:  Cheapest is not always the best when it comes to choosing the best inspector. Remember, this is one of the biggest investments you will make in your lifetime.

3 Home Inspection Tips

3 Home Inspection Tips

A thorough home inspection is one of the most important steps in the home buying process and covers everything from the foundation to the roof, taking two to three hours to complete.  The report should reflect the current condition of the home and all of its systems, and should cost $300-$600.  Here are the three most important things you need to remember during the process:  

1.  Don't Waive

With the current market conditions, many buyers are doing everything they can to make their offers standout, amongst the competition, including waiving their  inspection contingency.  Purchasing a home is one of the most monumental investments you will ever make, and committing that kind of money without checking for major health and safety issues is a huge risk that could have dire consequences later on down the road. If you have found the home of your dreams, conduct a pre-inspection to rule out any major problems prior to submitting your offer.  This will bolster your offer without compromising any opportunity to  inspect the home.  


2.  Inspect New Construction

When purchasing new construction, do not assume that just because the home has passed code and ordinances it must be in great shape.  Believe it or not, builders and contractors frequently make mistakes, and a proper home inspection will give you the peace of mind that you are moving into a well-built home, free of any major defects.  

3.  Health & Safety

Lastly, home inspectors do a great job of inspecting the entire house, but your main concern should be to find things that are negatively affecting the health and safety of the home.  This means anything that is going to cause the house to lose functionality in any way.  For example, gutters, roof, foundation/crawl space, pests etc.  Don't get caught up on the small, cosmetic issues that are easy and inexpensive to repair.  

Keep calm and hire a home inspector!  

Delayed Closings & Market Snapshot

Delayed Closings

The current standard is that we have a thirty day closing with no interruptions and everything works out smoothly, and even in this practice we typically do not close on time because underwriters are so backed up, and banks have tightened up their requirements.

Additionally, there is a huge change coming that is federally mandated, and it includes settlement and disclosure statements from your lender.  The TIL (Truth In Lending) and HUD1 statements are being combined into one document, and this document needs to come from your lender directly.  In the past your escrow company would handle all of this prior to closing and it would be a lot smoother.  Many experts predict a 40-45 day closing is more realistic with these new changes.

The truth is there are many challenges can come right before a transaction is getting ready to close, and this just adds more complications.  

The best response is to write up your offer for a 45-day closing to be safe.  This will allow for any issues to be dealt with and expectations will not go unmet. 

Market Snapshot

The crucial question we are facing is, are the rates going to actually increase this time?  The Federal Reserve was supposed to raise rates in September; however, the bad press coming out of China will likely delay any increase once again.  I will keep you posted!

Sharing Home Inspections

Like anything else that continues on the same path, the competition in our market has intensified over the last year.  With off shore cash coming into the area, along with low interest rates, and high demand, the competition is steep.  

Recently, in Seattle a client of mine put in an offer on a house in the very highly sought after Beacon Hill neighborhood.  At the pre-inspection, I was approached by two other brokers who offered to share the cost of the sewer scope with my clients.  My thought?  "Wait a minute, you want to share the cost of this inspection, and then you want to compete against my clients?"  This is common in Seattle, and one time I knew of eight buyers sharing the costs of the sewer scope on one house.  Personally, I think it is fine to share this cost, but it is not fine to share the home inspection (which a lot of buyers do). Why is this?

What if there was a lot of activity on the property, but in the end there were only two offers (a common scenario).  The other offer happens to be someone who you shared the home inspection with.  Sharing the home inspection gives you no competitive advantage because now we are on even playing field.  It is one less thing you have over your competition, and now you have cornered yourself.  When entering the real estate arena, you must hold your cards tightly.  

I leave you with this question...  Just because something is very difficult to accomplish, does it mean you should give up, or be fair?  Or would it make you appreciate it that much more in the end?  

Three Ways to Maintain Market Value

Three Ways to Maintain 
Market Value

1.  Make Your Kitchen Really Cook!  

The kitchen is the heart of a home, and it is the first room buyers look at when making a decision.  Give your cabinets a face lift, invest in stainless steel appliances, and make sure there is a lot of natural light.  You do not have to invest thousands of dollars to get a return, as spending a little money in the kitchen can go a long way.  The more cohesive looking kitchen, the easier on the eye it will be to the buyer, and the more it will sell itself.  

2.  Enhance The Exterior!

First impression says it all...  If buyers show up at your doorstep and your place looks shabby, it is going to be an uphill climb for them to be sold on the rest of the house.  Landscaping (including yard cleanup), painting the fence, and most importantly fixing the roof if needed are all major areas to spruce up.  

3.  Buy Smart!

Buy a home where there are excellent schools. Wherever you have outstanding school systems, you have high demand, and great resale value.  Try to buy something that is close to the freeway for commuting purposes, and try to find something that has a lot of natural light.  Natural light in the Pacific Northwest goes a very long way, and it will only help you when trying to sell in the future.

If you do these three things, you have made a solid and sound purchase!

Happy House Hunting!

5-Reasons to Live in the Seattle Area

1.  Economy

Seattle is one of the top cities for job seekers, and it is because of the diverse sectors of industry Seattle has to offer.  Companies such as Amazon, Microsoft, University of Washington, Boeing, Nordstrom, US Defense Department, and not to mention Seattle's Maritime Cluster all contribute to Seattle's thriving job force. (Seattle is also a hot spot for new start-ups!)  In fact, Seattle ranks third for the nation's strongest economy.

2.  Housing

Seattle may not be the cheapest and sunniest place to live, but locals love not only the beautiful countryside, but all of the special city neighborhoods.  Rest assured, each of these neighborhoods is unique, and people choose their homes based upon their interests.  A strong economy, low interest rates, and compelling neighborhoods, all make investing in real estate worthwhile.   The Seattle area is also booming with new growth in apartments, condominiums and single family homes – There are currently $10 billion in construction projects in Seattle, and there will be 30-40 major projects happening in the next 12 months. 

3.  Outdoors

Sure, Seattle is famous for its rain.  Yet the weather here is always changing, and the rain is not like the hurricane variety.  And, the rain never stops anyone from getting outside.  In fact, Seattleites use the cold winter months as a great time to participate in outdoor activities such as hiking, biking, running, skiing nearby, (alpine, cross-country, snowshoeing, and snowboarding) and walking their dogs.  Believe me, locals here are passionate about their K9 friends!  

4.  Summers

That's right!  Summer is Seattle's best kept secret!  With low humidity, abundant sunshine, and extended days, locals love and appreciate Seattle summers.  You will fall in love with lush green trees, vast blue waters, and breathtaking mountain views.  You will also find yourself attending outdoor festivals, farmers markets, outdoor concerts, and much more.  

5.  The people

In 2009, Forbes ranked Seattle, Washington as the 4th safest city in the country.  Seattle also goes through great lengths to protect the pedestrians, which also adds to the safety of the city.  In 2008, a survey by the US Census Bureau found that among all major U.S. cities, Seattle has the highest percentage of college and university graduates.  Seattle is also home to a very rich history of music and fantastic musicians are finding their voices here every year - like Jimi Hendrix, Pearl Jam, Nirvana, Soundgarden, and now Macklemore.

Not enough convincing reasons to embrace the PNW?  There are also amazing restaurants with a wide variety of cuisines, ferry boats, Pike's Place Market, the Space Needle, Seahawks, locally produced wine, beer, and whiskey, wild orcas in the Puget Sound, and the list goes on.  Oh, and there is the best coffee on the planet...  Says every person who lives here.