Real Estate Tips • June 21, 2023

Energy Efficient Homes

by Susan Camerer

Eco-Friendly, Energy-Efficient Homes Attract Buyers

Are you planning to sell your house? If so, you may be surprised to hear just how much buyers value energy efficiency and eco-friendly features today. This is especially true as summer officially kicks off.

In fact, the 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) shows 48% of agents or brokers have noticed consumers are interested in sustainability.

So, if you’re considering selling your house, why does this matter to you? It helps you know what you can do to make your house even more appealing to today’s buyers. According to Jessica Lautz, Deputy Chief Economist and VP of Research at NAR:

“Buyers often seek homes that either lessen their environmental footprint or reduce their monthly energy costs. There is value in promoting green features and energy information to future home buyers.”

Consider Upgrading Your Home To Make It More Appealing

If you want to upgrade your house in a way that maximizes its green appeal, you need to work with a local agent to understand what buyers in your area are looking for. The same NAR report identifies the following green home features as most important to buyers at a national level:

Windows, doors, and siding
Proximity to frequently visited places
A comfortable living space
A home’s utility bills and operating costs

While you can’t change the location of your house, you can take action to make sure it’s as comfortable as possible while also setting up the next owners for lower operating costs. ENERGY STAR shares some suggested upgrades as ones that may be worth considering:

Heating and cooling: Ensure your HVAC system is properly maintained and regularly serviced to maximize its efficiency. Consider upgrading to a high-efficiency model, if needed.
Water heater: Your water heater uses a lot of energy. Upgrading to a heat pump water heater can significantly reduce energy consumption and appeal to environmentally conscious buyers.
Smart thermostat: A big part of your energy bill goes to heating and cooling. Install a programmable thermostat to better regulate temperature settings. This not only enhances comfort but can also lower energy usage.
Attic insulation: Proper sealing and insulation in your attic help prevent air leaks and maintain a comfortable temperature, reducing the strain on heating and cooling systems.
Energy-efficient windows: Replacing old, drafty windows with energy-efficient ones can minimize heat transfer and lower your energy bills.

It’s worth noting that you may be able to take advantage of tax credits and rebates for energy-efficient home installations and upgrades. These incentives could help offset a portion of the costs associated with eco-friendly home improvements.

As you prepare to sell your house, it’s important to recognize that real estate agents are valuable resources. They can help you determine which upgrades would be most appealing for buyers in your area and provide guidance on which green features to highlight in your listing. If you’ve already made these updates recently, tell your agent so they can feature them in your listing.

Bottom Line

Focusing on energy efficiency and eco-friendly features can help make your house more appealing to buyers today. Let’s connect to ensure you’re choosing the right upgrades for our area.

Community • March 19, 2023

Welcome Austin Camerer

by Susan Camerer

I’m excited to announce that my son Austin is joining the Camerer Real Estate team! Austin will be working as a buyers’ agent, hosting open houses and supporting our sellers with listing preparation and construction services. Ensuring our clients’ homes are in the best possible condition before listing generates top dollar offers.

Curious what your property is worth? Reach out to us for a free market analysis and to answer any questions you may have.

Real Estate Tips • March 3, 2023

Preparing for a Home Inspection

by Susan Camerer

Selling your home is a series of interconnected steps. After you’ve found a buyer and accepted their offer, you’ll both sign the contract and proceed toward closing. In the period between signing the agreement and handing the keys over to the buyer, they will request a home inspection to gain a better understanding of the property’s condition and discover any potential issues with its various systems and structure. The buyer usually has seven to ten days to complete the inspection after you accept their offer.

The issues discovered during the home inspector’s walkthrough give the buyer leverage to renegotiate their offer, asking that you either make or pay for the repairs in question or lower the price of your home to account for them.

Buyers will typically include a home-inspection contingency in their offer stating that, based on the results of the inspection, they are free to back out of the deal with their earnest money deposit intact. Some sellers will conduct their own inspections before listing their homes to be as transparent as possible and to reduce the chances of a buyer backing out. These pre-listing inspections can also help to streamline the latter stages of the transaction, which is especially helpful when there are multiple offers on the table. A real estate agent can provide more information about the benefits of conducting a pre-listing inspection in a competitive market.

Put yourself in the buyer’s shoes as you prepare for the home inspection. What things would you be looking for that might make you uneasy about purchasing a home? What would make you want to back out of a deal and continue your home search elsewhere? Make a checklist and address these issues before the inspection.

Home inspectors are trained professionals who will identify both the obvious and not-so-obvious issues of a property for sale. They will examine your home’s foundation, roof, attic, basement, bathrooms, and every nook and cranny in between. They may also look for signs of mold, insect or animal infestations, and things that are close to expiration or operating in an unsafe way.

At a minimum, you’ll want to make sure all the systems in your home are in working order. Check your plumbing for signs of leaks, make sure your window and door seals are airtight, replace lights that aren’t working, tighten up loose cabinet and door hinges, and make sure your fuse box is labeled correctly. Check the batteries in your smoke detectors and service your HVAC system as needed. All appliances (refrigerator, washer and dryer, dishwasher, microwave, range, air conditioner, etc.) should be functioning properly.

Be just as conscientious with your home’s exterior. Examine your roof, chimney, fence, gutters, and siding for signs of damage. Inspectors will check the structural integrity of your foundation and deck, looking for cracks or signs of damage. They also want to see that your property has proper water drainage. If there are areas of concern, a real estate agent can recommend trusted local contractors so you can start comparing quotes.

After you’ve gotten your home in tip-top shape and circled the inspection date on your calendar, you’ll want to make sure that the home inspector can access the places they need to inspect. Declutter and organize as necessary to make their job easier. If they can’t access a specific part of your home, they may not be able to properly inspect it, which could raise concerns for the buyer.

Real Estate Tips • March 2, 2023

An Expert Makes All the Difference When You Sell Your House

by Susan Camerer

An Expert Makes All the Difference When You Sell Your House | MyKCM

If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale.

1. They’re Experts on Market Trends

With today’s housing market defined by change, it’s critical to work with someone who knows the latest information and how it impacts your goals. An expert real estate advisor knows about national trends and your local area too. More importantly, they’ll give insight to what all of this means for you, so they’ll be able to help you make a decision based on trustworthy, data-bound information.

2. A Local Professional Knows How To Set the Right Price for Your Home

Home price appreciation has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are today. Pricing your house too high can deter buyers or cause your house to sit on the market for longer.

Real estate professionals look at a variety of factors, like the condition of your home and any upgrades you’ve made, with an unbiased eye. They compare your house to recently sold homes in your area to find the best price for today’s market so your house sells quickly.

3. A Real Estate Advisor Helps Maximize Your Pool of Buyers

Since buyer demand has cooled this year, you’ll want to do what you can to help bring in more buyers. Real estate professionals have a wide range of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS), to ensure your house gets in front of people looking to make a purchase. Investopedia explains why it’s risky to sell on your own without the network an agent provides:

“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home.”

Without access to your agent’s tools and marketing expertise, your buyer pool – and your home’s selling potential – is limited.

4. A Real Estate Expert Will Read – and Understand – the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors(NAR) puts it like this:

“There’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”

5. A Local Professional Is a Skilled Negotiator

In today’s market, buyers are regaining some negotiation power. If you sell without an expert, you’ll be responsible for any back-and-forth. That means you’ll have to coordinate with:

The buyer, who wants the best deal possible
The buyer’s agent, who will use their expertise to advocate for the buyer
The inspection company, which works for the buyer and will almost always find concerns with the house
The appraiser, who assesses the property’s value to protect the lender

Instead of going toe-to-toe with these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.

Bottom Line

Don’t go at it alone. If you’re planning to sell your house this spring, let’s connect so you have an expert by your side to guide you in today’s market.

Community • February 14, 2023

We Love Coffee – Happy Valentine’s Day

by Susan Camerer

Happy Valentine’s Day. If you only have time for a coffee date today, here are a few of our favorites!

Mercury Coffee is a classic, no-frills coffee shop in Bellevue that serves quality espresso drinks, light bites and pastries. Link: https://www.mercurys.com/

Boon Boona is an ethically-sourced, specialty coffee shop with a focus on pour over brewing methods and espresso. Link: https://www.boonboonacoffee.com/

Sweet Notes Cafe is a quaint, charming coffee shop in Kent that offers delicious lattes and a variety of baked goods. Link: https://www.sweetnotescafe.com/

Belldan Café in Bellevue is a modern, urban coffee shop in Bellevue that features specialty drinks, light bites, and a cozy atmosphere. https://www.belldencafe.com/

Wild Wheat Bakery, Café and Restaurant offers a variety of freshly baked artisan breads and pastries made with natural ingredients. https://wildwheatbakery.com/

Enjoy and be sure to let us know about your favorite!

Community • February 5, 2023

Get a Jump on Valentine’s Day

by Susan Camerer

To celebrate love this Valentine’s Day, I want to share some of our favorite restaurants so you can get a jump on planning a fantastic meal and memorable experience with someone special. Here are some fabulous dining options:

Canlis: One of Seattle’s most renowned fine dining restaurants, known for its exceptional service, stunning city views, and innovative cuisine.
The Pink Door: This Italian trattoria in Post Alley has a cozy atmosphere, live entertainment, and a menu that changes daily based on the freshest ingredients.
The Walrus and the Carpenter: A bustling oyster bar that offers a variety of bivalves and other seafood dishes, along with craft cocktails.
Lola: Chef Tom Douglas’s Mediterranean-inspired restaurant features a menu of small plates, grilled meats, and fresh seafood.
Ascend: A contemporary dining experience serving contemporary cuisine in an elegant setting with breathtaking city views.
The Lakehouse: Enjoy a candlelit dinner on the shores of Lake Union, with a menu showcasing locally-sourced ingredients and seasonal flavors.
El Gaucho: A classic steakhouse serving prime cuts of beef in a luxurious and sophisticated atmosphere.

I would love to know your favorite restaurant(s) – message me!

Real Estate Tips • January 30, 2023

What’s Next After You Sell?

by Susan Camerer

Where Will You Go If You Sell? You Have Options.

Where Will You Go If You Sell? You Have Options. | MyKCM

There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next.

In today’s market, it makes sense to explore all your options. That includes both homes that have been lived in before as well as newly built ones. To help you decide which is right for you, let’s compare the benefits of each. Regardless of which option you choose to explore, working with a trusted real estate professional throughout the process is essential.

The Benefits of Newly Built Homes

First, let’s look at the benefits of purchasing a newly constructed home. With a brand-new house, you’ll be able to:

1. Build your dream home

If you build a home from the ground up, you’ll have the option to select the custom features you want, including appliances, finishes, landscaping, layout, and more. Bankrate puts it like this:

“Building means customizing. . . . instead of wishing your home had a certain kind of flooring, a sunroom or some other special amenity, you’ll be able to tailor the property to your exact needs. You also won’t be limited to a specific location or neighborhood.”

2. Take advantage of builder concessions

In today’s market, a lot of home builders are working hard to sell their current inventory before they add more to their mix. That means many of them are offering concessions and are more willing to negotiate with buyers. That could work to your advantage in the process.

3. Minimize home repairs

Many builders offer a warranty, so you’ll have peace of mind on unlikely repairs. Plus, you won’t have as many little improvement projects to tackle. As realtor.com says:

“. . . if something goes wrong with your new home, not only are there likely some manufacturer warranties in place, but many builders also include additional home warranties . . .”

4. Take advantage of energy efficiency

When building a home, you can choose brand-new, energy-efficient options to help lower your utility costs, protect the environment, and reduce your carbon footprint.

The Benefits of Existing Homes

Now, let’s compare those to the perks that come with buying an existing home. With a pre-existing home, you can:

1. Explore a wider variety of home styles and floorplans

With decades of homes to choose from, you’ll have a broader range of floorplans and designs available.

2. Appreciate that lived-in charm

The character of older homes is hard to reproduce. If you value timeless craftsmanship or design elements, you may prefer an existing home.

3. Join an established neighborhood

Existing homes give you the option to get to know the neighborhood, community, or traffic patterns before you commit. Plus, they have more developed landscaping and trees, which can give you additional privacy and curb appeal.

4. Move in faster

If you have a short timeframe to move or you just don’t want the process to take several months while your home is under construction, buying an existing home might make sense for you. U.S. News explains:

“When you’re choosing a home, existing or new, you should also consider how long it might take to move into that home. Just because you have a contract doesn’t mean that your new home will be completed (or even started) at the time you agree to the purchase. It can be a struggle waiting for the walls to go up as you wonder what your home will become.”

When thinking about where you’ll go after you sell your house, remember your options. As you start your search, think about what’s most important to you. By working with a trusted real estate agent, you can be confident you’re making the most educated, informed decision.

Bottom Line

If you have questions about the options in our area, let’s discuss what’s available and what’s right for you, so you’re ready to make your next move with confidence.

Real Estate Tips • January 29, 2023

Building Wealth with Real Estate

by Susan Camerer

Homeownership Builds Your Wealth over Time [INFOGRAPHIC]

Homeownership Builds Your Wealth over Time [INFOGRAPHIC] | MyKCM

Some Highlights

If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.
On average, nationwide, home prices appreciated by 288.7% over the last 32 years. That means homeowners grow their net worth significantly in the long term.
Homeownership wins over time. Let’s connect so you can start your homebuying journey today.

Real Estate Tips • January 24, 2023

The 3 Factors That Affect Home Affordability

by Susan Camerer

The 3 Factors That Affect Home Affordability

The 3 Factors That Affect Home Affordability | MyKCM

If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

“. . . with slowly improving affordability and a more optimistic economic outlook than previously believed, the housing market could show resilience in 2023.”

The three measures used to establish home affordability are home prices, mortgage rates, and wages. Here’s a closer look at each one.

1. Mortgage Rates

Mortgage rates shot up to over 7% last year, causing many buyers to put their plans on hold. But things are looking different today as rates are starting to come down. George Ratiu, Senior Economist at realtor.com, explains:

“Let’s celebrate some good news. . . . mortgage rates are down. With inflation showing a tangible slowdown, I do expect mortgage rates to follow suit in the months ahead.”

Even a small change in rates can impact your purchasing power. Nadia Evangelou, Director of Forecasting for the National Association of Realtors (NAR), gives this context:

“With a 6% rate instead of 7%, buyers pay about $2,700 less every year on their mortgage. As a result, owning a home becomes affordable to about 1.4 million more renters and 4.3 million more homeowners.”

If 7% rates paused your homebuying plans last year, this could be the opportunity you need to get back in the game. Be sure to work with a team of experts who know the latest on mortgage rates and can give you the best advice for the current market.

2. Home Prices

The second factor at play is home prices. Home prices have made headlines over the past few years because they skyrocketed during the pandemic. When discussing home prices in 2023, Lawrence Yun, Chief Economist at NAR, says:

“After a big boom over the past two years, there will essentially be no change nationally . . . Half of the country may experience small price gains, while the other half may see slight price declines.”

So, while prices will likely be flat this year in some markets, others could see small gains or slight declines. It all depends on your local area. For insight into what’s happening in your market and how prices are impacting affordability, reach out to a trusted real estate professional.

3. Wages

The final component in the affordability equation is wages. The graph below uses data from the Bureau of Labor Statistics (BLS) to show how wages have increased over time:

When you think about affordability, remember the full picture includes more than just mortgage rates and prices. Wages need to be factored in as well. Because wages have been rising, many buyers have renewed opportunity in the market.

While affordability hurdles are not completely going away this year, based on current trends and projections, 2023 should bring some sense of relief to homebuyers who have faced growing challenges. As Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), says:

“Rates are expected to move lower for the year, and home price growth is expected to cool, both of which will help affordability challenges.”

Bottom Line

If you have questions, let’s connect. You’ll also want to make sure you have a trusted lender so you can explore your financing options. You may be closer to owning a home than you think.

Staging and Design • January 23, 2023

Don’t Pay Extra For Premium Marketing!

by Susan Camerer

Don’t pay extra for a premium marketing package. High-end staging, professional photography, and a dedicated website are all part of the standard marketing package we provide you at no extra costs. Our dedicated websites showcase your home in a way that attracts to most potential buyers. Click here for an example.

Having a dedicated website for your home listing can greatly increase its visibility and attract more potential buyers. A well-designed website with high-quality images and detailed information about the property can give buyers a better sense of what the home has to offer. Additionally, utilizing premium marketing strategies, such as drone shots and professional photos can make your listing stand out among the competition and attract the right buyers. But you don’t have to invest in these resources! We pay for it all! These efforts can ultimately lead to a faster sale and a higher selling price. Please reach out today. We would love to help.