ComeBuyAHouse.com

Three things to consider

We’ve found that when sellers choose a price in the current market range at the beginning of the listing period that takes into account the location, condition and appeal, their homes sell faster and for more money.  So we provide you with an in-depth analysis of the market value of homes in your area to help you decide on your selling price.

Homes that the seller has moved out of sell faster because the personality of the owner has left the building. If you have watched any HGTV shows about setting up a house for sale, you know that the way you live in a house and the way you show a house for sale are two very different things!  It’s much easier to keep the house ready to show when you are not living in it.  However, we totally understand that you may not be able to afford two houses at once, so we will help you strategize the best way to market your property around your own individual situation.

In addition, staging your home by de-cluttering, de-personalizing, and doing pre-listing fix up, will sell it faster.  Staging addresses all the senses as a buyer enters a home.  Sound, scent, space, light and textures all add to the ambience that welcomes a buyer home.  Melinda Knight, owner of MAK Promotions Design & Decorating, and a member of International Association of Home Staging Professionals gives these 10 reasons for staging your home for sale:

Ten Reasons to Stage

1.  Your house will sell faster than if it hadn’t been Staged 
2.  More buyers will find your house attractive
3.  The offers you receive will bring you the most money possible for your house 
4.  The best marketing tool available is the appearance of your house
5.  More agents are happy to bring their clients to view houses that have been Staged 
6.  Buyers will know your property has been cared for 
7.  Appraisers are more likely to appraise Staged houses for more 
8.  Buyers can more easily imagine themselves in your home
9.  The process of Staging and organizing makes moving a smoother process 
10. Knowing your home looks its best reduces the overall stress of selling your house

One additional thing to remember

Choosing an agent that creatively markets your home is key to a speedy sale.  We effectively capture the broadest range of today’s buyer market with our creative marketing  including access to a stager, open house events, blogging, online ads, web tour commercials, our own network of former clientele and coworkers.  Our monthly newsletter features our listed properties as well as the coolest houses for sale.

I think agents need to prepare sellers for a longer time on the market when they list their homes. I’m seeing so many more houses on the market for a longer period of time than was usual, even last year at this time.

Both buyers and sellers in the Seattle area are used to sales that happen quickly when a house is listed, and that does still happen when a house is priced well, looks great and suits a lot of buyers. But now we are seeing perfectly good houses stay on the market 60, 90, 120 days, especially when they are over the median price range. It’s time for buyers to stop judging houses by how long they’ve been on the market–stop asking what’s wrong with this house–and just go see it. There is very likely nothing wrong. And it’s time for sellers to be a bit more patient with the process–we’ve had it easy for a long time now.
There is not automatically something wrong with your agent if your house doesn’t sell in 30 days like it would have a year ago. That being said, there are ways to increase the probability of selling your house in 30 days–price it right and market it like crazy in the first couple of weeks. Staged, good looking homes sell quicker. Get all the way ready before listing. Make the most of the first two weeks. And then be patient because the purchase requires a buyer, and they are just now coming out to buy in greater numbers.

Today I spoke with the young lady at our optometrist’s office about the real estate market.  She asked how the market is, and then wanted to know if prices are going down.  I’m sorry, but the answer is no.  I haven’t really seen a bursting bubble. Prices will increase over time in the Seattle area at a rate of at least 7% a year.  That means that homes will be twice as valuable (or more), and yes, twice as expensive (or more) in ten years.  So that begs the question, when should you buy?  You should buy as soon as you are ready.

Think about this, though:  if all you are looking at is home prices, you are looking at only part of the picture, unless you have cash for the whole purchase price.  The other part of the picture is the rate/terms of your loan, or how much your money costs. 

See, you qualify for a payment amount when you are applying for a loan.  When the interest rate is higher, more of your payment goes to pay your interest, less to cover the house price, so you get less house.  The inverse occurs when the rates are lower.  We like lower.  So when you are ready to buy, the thing to watch is interest rates.  You also want a loan officer that will quote a reasonable rate (not the teaser that can’t possibly be honored) and keep you informed about rates until you are ready to lock it in, once you are under contract. 

Our friend mentioned that she might want to get a place with more bedrooms than she needed in order to rent to roommates.  I told her that there are loans that will use the rental amounts as income to help qualify the borrower.  Not all lenders allow that income to be used, but if you can afford a place then you use the rent income to give you a financial cushion, well that can be a good conservative move. 

Though it might start out a bit more expensive, the larger (3 bedroom) property appreciates at the same rate as others around it.  I would rather have the equity growth on a $300,000 house than a $200,000 house, yes?  And if you own a three bedroom instead of a two bedroom, and the next step in your strategy is to move up into a nicer place, it will be easier to sell.  Or rent.  Hmmmm…. another avenue to take. 

Another young future client is working with me on building her credit and job history right now, and plans to own a building that houses not only a dance studio, but apartments to rent.  These are ambitious plans, and what a great idea! 

I’ve lifted this right from Jillayne Schlicke’s (http://www.bpiconsulting.net) newsletter because I thought you ought to know…

Alert to homebuyers to look for the license number of their loan originator on their loan application after January 1, 2007.

On this date all loan originators who work for a mortgage broker must be licensed by their regulator, the Washington State Department of Financial Institutions. This includes being fingerprinted and undergoing an FBI background check.  Loan originators will be issued a license number by the state which must appear on your client’s loan application.  This new licensing law does not affect loan officers who work for a bank, credit union, consumer finance company, or any other entity exempt from licensing.  Here is a link to the DFI website for you and your homebuyers.
http://dfi.wa.gov/cs/loan_originator.htm

I want to continue to help people with financing their home purchase and so I have applied for my mortgage loan originator license–a new development in the State of Washington.  It’s a great move onthe part of WA State toward regulating individual competence and compliance.  I was known as the compliance officer at my last job, watching my agents and loan officers for possible problems, protecting clients, and my associates as well as the brokerage—-the real estate brokerage and the mortgage side too.  As RE broker, being compliance officer was part of my job.  I was to be very aware of the laws, to feel when a red flag might be flying and to check out that possible violation.  Often when an agent or LO thinks outside the box in advertising, or in getting a loan for someone who really does not qualify, there’s a reason to check for violations. I’m all for creative advertising, and even creative financing, but not for anything that will end up hurting a client financially.

You’ve always wondered what it is like for an agent at an open house, haven’t you?  This is what we do for sellers, to sell their houses, and to meet buyers face to face. 

Larry and I toured the neighborhood yesterday to be sure that we knew the houses around this one.  We found that about half the houses on the market in the area are vacant.  Many had been bought, fixed up and re-sold–otherwise known as “flipping”.  We talked to one owner who said that the market had gone flat after his purchase, and he didn’t realize the gains that he had wished for.  It’s a GREAT time for a buyer.

To this pseudo gingerbread hardwood-floored cozy little enclave, Larry brought two guitars, and we brought our coffee, flyers, and cards to give to passers through and lookie-loo’s.  It’s the cutest little three bedroom, one bath with a sunny southern exposure family room in the back.  You can see a few pictures on my website http://www.lynettehensley.com.

So far, we’ve had one gramma, one agent, (then the agent came back with his clients), a couple looking in the area….Took a break, because another agent with a couple just came through, then another couple who are selling a condo in Edmonds, and then a man who wants to buy a rental home.

It’s almost 2 PM, and we are going to be here till 3 PM.  I’ll let you know if I sell the house. 

Good place to eat:
Breakfast Club–culturally diverse country down home breakfast–attitude served up at no extra charge
Banjara–Queen Anne Indian restaurant –try the mango curry fish
Sunlight baking company–best of granola breakfasts close to most vegan
Mad Pizza–4 locations now!

Good places for Coffee — Roosters above all!! 
Now in two locations–third soon to be announced at U Village (you got it here first!)

Good places to nap:
South slope of Ballard locks by the railroad bridge

Best places to shop for wierd stuff: 
Pike place market–duh!

Best place to buy guitars–call Larry 206 291 4117

Best places to meet folkies:
Folklife
Victory Open Mics
  Honey Bear Bakery in Third Place Books–Ravenna
Dusty Strings
Street Corners
Public Market

Best Antique shopping areas:
Snohomish
Antika on Greenwood
Post Alley

Home Decor
Check out the shops in Edmonds….I LOVE Edmonds. –Lynette

Very interesting places to see stuff you can’t always see:
Edmonds beach at low low tide

This is just the beginning– not to be mistaken as a comprehensive list.  We will add and YOU will add to it. 
Yes?  Yes!

I’m here to invite your questions and stories about your adventures in Real Estate. I’ll start you off with a question: How smoothly did your last real estate closing go, and what made it smooth or rough for you?