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Real Estate 101
Location, location, location:
Costs and Financing:
Types of Real Estate:
When and How to Ask for Help:
What to Expect When Selling Your Home
Selling your home can be overwhelming and feel like a full-time job… which is why there are realtors! Good realtors make the process so much smoother and less intimidating. To keep your mind at ease and prepare you for what will happen throughout the sale of your home we are sharing 10 top tips to get you from listed to sold in no time!
Discover what to expect when selling your home
1. Select the right agent the 1st time
It is of the utmost importance that you pair with a full-time, knowledgeable agent who can best represent you through the process. This should be your number one priority. Studies show that homes listed with an agent sell for more than those listed without, and this is for good reason. Great agents dedicate their lives to keeping up with economic changes, are masters at negotiating and getting things done, and know all rules and regulations. This will pay off immensely in the long run if you trust their process. If you are unsure where to start, ask your friends who they trust and about their experience with them but don’t stop there. Interview at least two, preferably three brokers, and the differences should be immediately clear. If you still need help, Windermere has a full-time manager that will ask you pertinent questions about your needs, personality style, and specific goals to make the perfect real estate agent match. Windermere’s ultimate goal is not the sale of a home but to give you a real estate experience you want to share with others! When you are ready to pair with an agent connect with us and we will match you with the perfect broker.
2. Set your timeline
A timeline is valuable in that it will keep you organized throughout the entire selling process. Anticipate that your timeline might change depending on circumstances and your local housing market conditions. You may need to adjust a couple of times, but the purpose is to keep you on track toward your end goal. SOLD! Your timeline will help guide you there. Know what the average days on market are for your home and price range (click here to determine Whidbey Islands) then add an average of 30-45 on that to get an estimate of how long it will take to sell once you go live. Work with your agent to build your unique timeline.
3. Determine your home’s value
The SECRET to selling quickly is pricing your home right the first day it hits the market. Overpricing can create serious problems like not being seen by the right buyers, less traffic both in person and virtually, and worst of all becoming less attractive to buyers the longer it sits resulting in lower offers than if you priced it attractively, to begin with. Your agent will provide you with a (CMA) Comparative Market Analysis which compares your home to others in your local area that recently sold and/or are actively pending. This formulated analysis will assist you in properly determining the best price for your home. Discuss this with your agent. They will help walk you through the process even if you aren’t sure you’re ready to sell yet.
4. Identify issues & execute the plan
This is the time to tackle any unfinished projects and address needed repairs. Talk with your agent to see if a pre-sale home inspection would be advantageous for your unique situation. Begin by creating a list of repairs you can do versus those needing to be hired out. Your agent can help you determine which will be the best use of your time, offer the largest return on investment, and help you find vendors and hire out projects. If money is tight it may be in your best interest to apply to our Windermere Ready Program which gets you cash for fixing up your home to list. Ask your Windermere Agent about how to apply.
5. Put your best foot forward
First impressions go a long way! Start with curb appeal. Clean up your gardens, mow your lawns, clean out gutters, and add a pop of color to your flower beds. If you have any cracked or peeling paint, apply a fresh coat. Make sure to declutter the inside of your home. The best rule of thumb is to remove personal effects and present your home like a hotel in which the buyer could envision themselves living in the space. Talk to your agent about the possibility of having your home professionally staged.
6. Get your home seen
Your realtor will help maximize the exposure of your home. They can list with the MLS, will get your listing on all major sites like Zillow and Redfin, and will be listed on their Brokerage site in addition to their own. These are just a few of the many ways in which your listing can be seen. Be sure to discuss the option for virtual tours with your agent. When it’s time for in-person showings, we suggest that you not be present so that the potential buyers can freely walk the home with their agent, ask questions, and ultimately have the space to imagine it as their new home.
7. Reviewing offers & negotiating
If you price right, you might see more than one offer on your home because we are still in a strong Seller’s market. The offers may be at or above the asking price. When reviewing offers, you have three options: 1. Accept the offer, 2. Make a counteroffer, 3. Reject the offer. These should ALWAYS be made in writing, and you should always give the buyer a short time to respond. Whether you are selling or buying, you will likely find yourself in negotiations. It is important for you to discuss negotiation strategies with your agent ahead of time. At Windermere, we pride ourselves on negotiation tactics grounded in psychology and win-win strategies.
8. Budget for closing costs
Closing costs include things like title insurance, recording fees, government taxes, lender fees, broker commissions, and numerous other things. Be sure to discuss this with your agent ahead of time and throughout the transaction so you don’t feel blindsided at closing and are adequately prepared.
9. The inspection
It is common for offers to be contingent on a professional home inspection. Your agent can prepare you for what to expect from a home inspection. Typically a home inspector will look at things like the foundation, structure, roof, plumbing and electrical systems, floors, windows, doors, and signs for things like water or fire damage.
10. Closing
You finally made it, but before you can officially close there are a couple of things to do. Ask the buyer to release any contingencies, sign the title, and close escrow before releasing the keys. Your escrow agent will help you through this process. Talk with your agent about questions you have about legal documents and settlement costs.
If you are considering selling and would like to speak to an experienced Windermere Realtor for more specific information connect with us by clicking here.
Back to School: Realtors Edition
If you aren’t a real estate broker you probably don’t know that September doesn’t just initiate back to school for our kids but as an industry, this is the beginning of conference season! This just means that Fall and Winter tend to be slower seasons and provide the best time for busy brokers to grab a block of hours or even a block of days to spend sharpening their skills. Great brokers are committed to being lifelong learners. They keep up with the ever-changing market, lending options, negotiating tactics, marketing techniques for properties, and the list goes on.
If you are a broker…
You may be looking for some great opportunities that are coming up in the next few months. We have collected a few that we think will be really worth your time. Take a peek and please let us know if we missed one of your favorites because we would love to add it to our list.
New Forms are coming SOON! Please take advantage of educational opportunities to study and familiarize yourself with the changes.
You can take one of the many virtual classes the NWMLS is offering here
Oct. 14, 9-3pm in Oak Harbor! Fair Housing Class, 6 clock hours
Ninja Installation Tacoma Dec 5-8 (Brokerage pays for 1st timers)! $1,100 Thinking about joining our team? Connect with us.
Conference Opportunities:
Windermere Homecoming! $350 (plus accommodation and travel) Sept. 29-30
Inman Connect NYC Jan 24-26 $900
Denise Lones Prosperity Strategy California Nov 9-11, only 50 people! $3,500 w/ accommodation
NAR Conference Orlando Nov 11-13 $450
In addition to these great learning opportunities our brokerage brings in an expert speaker 2-3 times on topics from septic systems to negotiation tactics, from topics as unique as forestry management to ones that are pretty applicable on an island like shoreline processes and bluff stabilization. If you’d like to attend one of these trainings let us know! We’d love for you to be our guest in learning because the better we can serve our clients in this industry the better!
Back to School Coupeville
If your children are attending the Coupeville School District this year this is the right place for you!
COUPEVILLE: KINDERGARTEN – Download list here!
COUPEVILLE: 1ST GRADE – Download list here!
COUPEVILLE: 2ND GRADE – Download list here!
COUPEVILLE 3RD GRADE: Download list here!
COUPEVILLE 4TH GRADE: Click here for the GoFundME!
COUPEVILLE 5TH GRADE: Download list here!
COUPEVILLE MIDDLE SCHOOL
COUPEVILLE HIGH SCHOOL- The recommended supplies will be on each class syllabus that your student will receive during the first week of school.
NEW SKYWARD:
CSD now uses Qmlativ as our student management system. This platform updates and hopefully improves on Skyward. Qmlativ is now where students and parents can check grades, contact teachers, and pay fees. There will be brief training provided to help parents and students navigate the new system shortly.
LUNCH:
The USDA has discontinued free lunch for all students. Lunch for students returns to $3.45. We will also return to our two-lunch bell schedule. That means we will have 6th-8th lunch after 3rd period, and 9th-12th lunch after 4th period.
Annual Report 2021
Thinking the Housing Market is Going to Slow down this Winter? Think Again!
Last week’s article, Why You Should NOT Wait to List Your House Right Now couldn’t have been more TRUE! Americans have more motivation than ever to buy a home. Whether buyers are taking advantage of today’s low mortgage rates or they feel the increased need for flexibility of working from home, we have seen an influx of buyers that just doesn’t seem to be slowing down any time soon. Experts reveal that buyers are making their moves right now, generating an unseasonably robust housing market compared to the historical past for this time of year.
As the fall season comes to an end we typically experience a decrease in demand…
…however, today as we move into the winter months we are witnessing quite the opposite. Industry leaders are boasting the strong market saying things like, “The demand for housing in the United States has reached a fever pitch, a trend that opposes the norm of this time of the year when the market cools as the winter months set in.” says the M Report, and Mark Fleming, the Chief Economist for First American who says, “Strong demographic demand will continue to act as the wind in the housing market’s sails.” But it doesn’t stop there, the highly esteemed Chief Economist for the National Association of Realtors (NAR) Lawrence Yun explains, “This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sale in 2021 will exceed 6 million, which will shape up to the best performance in 15 years.” Some might ask, What about November? First American Deputy Chief Economist Odeta Kushi stated, “So far in November, purchase applications point to another strong month in sales. Still, low rates and demographic demand supports this strength, even as affordability and inventory headwinds remain.”
How does this impact the housing market for Winter?
Buyers are active in the market and are competing for homes to purchase. With the momentum that is coming out of the fall, there is every indication that leads experts to believe that the winter housing market is picking up steam, making for a much busier season than the typical year. As we have seen in a plethora of ways, 2020 and 2021 were anything but typical for real estate, and from the looks of it, 2022 will quickly be added to that list.
At the end of the day…
… if you have been considering selling there’s no time like the present. Whether you are thinking about buying a home or selling your house, maybe even both – let’s connect to determine if this winter is your best time to make your move. Email us or call us today!
Buying Vacant Land on Whidbey Island
If you have always dreamed of building your own home, choosing your own layout, selecting dream finishes, and want all your desires in a home met then you will be looking for vacant land. This is a completely different world than buying a preexisting home where there is complete certainty when it comes to electricity, water, sewage, and condition. Uncertainty is not comfortable for everyone so let’s make sure you feel prepared and empowered.
First and foremost, if you ask anyone who has built their own home, they will tell you that even if you build a home from scratch you will not end up with a 100% perfect house. There are always compromises and unforeseen issues with layout, etc. Remember, vacant land is scarce and becoming scarcer, so if you find the perfect property with an imperfect house, perhaps you can consider a major remodel.
When buying vacant land, it is all about the level of certainty a parcel can provide you. A parcel that already has a water source, septic system, access/driveway, building site laid out, and electrical nearby is going to be extremely rare. Such a parcel will cost more because of the time and expenses already invested by the seller. There is also inherent value in the confidence you as a buyer can have that you will not run into complications that may make the land unsuitable for development.
Below are our TOP 5 recommendations when considering buying vacant land:
Find a vacant land purchasing specialist.
Complex is the word that comes to mind when thinking about vacant land purchases. Having a trusted guide who loves the complexity that comes with purchasing land is something you really want. Many brokers groan when they think about helping buyers with vacant land but there are a special few who just dig it! Find them! It will make all the difference. If you need a recommendation just call (360) 675-5953 and ask for a recommendation on a vacant land specialist from the manager.
Know your corners.
In the best-case scenario, there has been a survey done and the corners are clearly marked with modern official survey markers however, this is rare. You may need to negotiate to have this done by the Seller. There are other signs that can give an idea of where property lines fall though. One of the coolest technologies that most agents have nowadays is an app that uses geo-spatial technology to locate your position on a map in relation to property lines. An old-fashioned surveyor’s tape measure can help as well if you have a marker of some sort to start from. Fence lines, survey tape marking trees or branches, driveways, and other identifiers can give clues. Nothing beats a proper survey though and you are going to want that when it comes time to build.
Get as certain as possible on the big 5.
Water, sewage, electricity, access, and building envelope. These are the big 5 mysteries when you first look at a raw and overgrown piece of land. The more that these 5 things have been figured out and addressed by the Seller, the more valuable the property is. You are buying risk when these 5 are unknown. You cannot avoid risk completely but figuring out as much as you can about these 5 will help you move forward more confidently.
Work with a local builder.
Get the local builder to the lot sooner than later. Reputable builders on Whidbey will be able to help you through the feasibility process, have a great instinct for what is possible, contacts to get specialists out to the property, and experience working with Island County’s Building department. Here are 5 builders we recommend in no particular order…
Know your critical areas.
Shorelines, native American artifacts, endangered animals and plants, steep slopes and bluffs, wetlands, and streams will affect the property in big ways. There are large set-back requirements for structures, wells, and septic systems around critical areas. You may get into a situation where you do not have much of a choice about where you can position your building site. These unknowns must be understood before you decide to close on the lot. Your Realtor can help you navigate this maze.
Each property is unique, and we could share a lot more with you on the topic of buying vacant land on Whidbey, but the truth is that the best thing you can do is find yourself an excellent guide who will help you assess what it is you are really looking for and how to narrow down the search. Good luck and do not forget your muck boots!
PHOTOS BY: Kelsey Kurtis
