Real Estate Tips • July 11, 2023

Why Isn’t Your Home Selling?!

by Susan Camerer

Reasons Your Home May Not Be Selling

When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due to today’s limited housing supply, there are still factors that can cause delays or even prevent a house from selling.

If you’re having trouble getting your house to sell in today’s sellers’ market, here are a few things to think about.

Limited Access – If You Can’t Show It, You Can’t Sell It.

One of the biggest mistakes you can make as a seller is limiting the days and times when buyers can view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential buyers’ ability to view it. Remember, minimal access equals minimal exposure.

In some cases, some of the most motivated buyers may come from outside of your local area. Because they’re traveling, they might not have the luxury to adjust their schedules when faced with limited options to tour your house, so make it available as much as possible.

Priced Too High – Price It To Sell, Not To Sit.

Pricing is a critical factor that can significantly impact your home sale. While it’s tempting to push the price higher to try to maximize your profit, overpricing can deter potential buyers and lead to your home sitting on the market longer.

Jeff Tucker, Senior Economist at Zillow, notes:

“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”

Not to mention, buyers today have access to a number of tools and resources to view available homes in your area. If your house is priced unreasonably high compared to similar homes, it may drive potential buyers away. Listen to the feedback your agent is getting at open houses and showings. If the feedback is consistent, it may be time to re-evaluate and potentially lower the price.

Not Freshened Up Before Listing – If It Looks Good, It’ll Make a Good Impression.

When selling your house, the old saying “you never get a second chance to make a first impression” matters. Putting in the work on the exterior of your home is just as important as what you stage inside. Freshen up your landscaping to improve your home’s curb appeal so you can make an impact upfront. As an article from Investopedia says:

“Curb-appeal projects make the property look good as soon as prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help your home sell faster—and you can do a lot of the work yourself to save money and time.”

But don’t let that stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Additionally, a new coat of paint or cleaning the floors can go a long way to freshening up a room.

For all of these things, lean on your real estate agent for expert advice based on your unique situation and feedback you get from buyers throughout the process.

Bottom Line

If your house isn’t getting the attention you feel it deserves and isn’t selling in the timeframe you wanted, it’s time to ask your trusted real estate agent for advice on what you may need to revisit or change in your approach. To get those expert insights, let’s connect.

Real Estate Tips • July 7, 2023

Today’s Housing Inventory Is a Sweet Spot for Sellers

by Susan Camerer

Today’s Housing Inventory Is a Sweet Spot for Sellers

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com:

“On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You?

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

The percent of homes that sold in less than a month ticked up slightly to 74%.
The median days on market went down to 18 days, showing homes are still selling fast when priced right.
The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Let’s connect to get the process started.

Real Estate Tips • Uncategorized • July 4, 2023

Homeownership is still the American dream

by Susan Camerer

Americans Still View Homeownership as the American Dream

Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide.

A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owning a home is still important to so many Americans today (see graph below):

As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.

A recent report from MYND helps shed light on why so many people value homeownership. It finds:

“. . . nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”

That’s because, when you own a home, your equity (and net worth) grows over time as you pay down your home loan and as home prices appreciate. This can be a key factor in building intergenerational wealth and long-term financial stability.

To further drive home the difference homeownership can make in your life, a report from Fannie Mae says:

“Most consumers (87%) believe owning a home is important to ‘live the good life.’ . . . Notably, significantly more see ‘having less stress’ as a benefit achieved by owning than renting.”

Especially today, this could be because, when you own a home with a fixed-rate mortgage, you stabilize what’s likely your largest monthly expense (your housing cost), and that helps combat the impact of rising costs from inflation.

What Does This Mean for You?

While it may feel challenging to buy a home today with higher mortgage rates and home prices, if the time is right for you, know that when you buy a home, incredible benefits are waiting for you at the end of your journey.

Bottom Line

Buying a home is a significant and powerful choice, embodying the foundation of the American Dream. If you plan to make your homeownership dream a reality this year, let’s connect to start the process.

Real Estate Tips • July 3, 2023

Wants Versus Needs When Evaluating Your New Home

by Susan Camerer

Evaluating Your Wants and Needs as a Homebuyer Matters More Today

When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. Mortgage rates impact how much it costs to borrow money for your home loan. And, to help offset the higher borrowing costs today, some homebuyers are taking a close look at their wish list and re-evaluating what features they really need in their next home to avoid overextending. As a recent NerdWallet article says:

“A pool, for example, may be nice to have, but it may not provide as much day-to-day value as a garage or a space for a home office . . .”

While that pool may be appealing, think twice on whether or not it’s really something you must have to be happy in your next home. Is getting that pool the main reason you’re moving? Probably not. It’s more likely a need for more space, a home office, or proximity to loved ones, friends, or work that’s motivating you to make a change.

So, if you’re looking to buy a home, take some time to consider what’s truly essential for you in your next house. Make a list of all the features you’ll want to see, and from there, work to break those features into categories. Here’s a great way to organize your list:

Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).
Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of these, it’s a contender (examples: a second home office, a garage, etc.).
Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: a pool, multiple walk-in closets, etc.).

Once you’ve categorized it in a way that works for you, discuss your top priorities with your real estate agent. Remember to think carefully about what’s a non-negotiable for your lifestyle and what’s a nice-to-have that’s more of an added bonus. Be sure to discuss where each feature falls with your agent. They’ll be able to help you refine the list further, coachyou through the best way to stick to it, and find a home in your area that meets your top needs.

Bottom Line

Putting together your list of necessary features for your next home might seem like a small task, but it’s a crucial planning step on your homebuying journey today. If you’re ready to find a home that fits your needs, let’s connect.

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

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!