Real Estate Tips March 2, 2023

An Expert Makes All the Difference When You Sell Your House

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

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

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:

  1. Canlis: One of Seattle’s most renowned fine dining restaurants, known for its exceptional service, stunning city views, and innovative cuisine.
  2. 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.
  3. The Walrus and the Carpenter: A bustling oyster bar that offers a variety of bivalves and other seafood dishes, along with craft cocktails.
  4. Lola: Chef Tom Douglas’s Mediterranean-inspired restaurant features a menu of small plates, grilled meats, and fresh seafood.
  5. Ascend: A contemporary dining experience serving contemporary cuisine in an elegant setting with breathtaking city views.
  6. The Lakehouse: Enjoy a candlelit dinner on the shores of Lake Union, with a menu showcasing locally-sourced ingredients and seasonal flavors.
  7. 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?

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

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

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:

The 3 Factors That Affect Home Affordability | MyKCM

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!

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.

 

Uncategorized May 27, 2020

Savings in the Laundry Room

Image Source: Shutterstock

 

When it comes to household expenses, staying at home has brought about savings in some areas, while increasing expenses in others. The laundry room has likely seen an uptick in usage, with its associated costs following suit. Save your energy and money by keeping these tips in mind as we continue to adapt to being home more often.

 

Master your machine settings

Review the owner’s manuals for your washer and dryer. There may very well be energy-saving settings you’re not using. For example, your washer’s “high-speed” or “extended wash” cycles will remove more moisture, which can help reduce drying time. A dryer’s “cool down cycle” allows clothes to finish drying using only residual heat.

 

Think twice before washing

Once you’re aware of the costs associated with washing and drying, and the natural resources this consumes, you may decide you don’t need to launder certain clothes as often – which can also extend the life of these garments. Some clothing, like jeans, sweatshirts, and sweatpants, can be worn a few times without a cleaning. Washing these items only when necessary will help you cut down. Another tip – keep another laundry basket in your room for those lightly worn clothes that you could wear again, so they keep separate from your clean clothes.

 

Use hot water only when necessary

Using warm water instead of hot can significantly cut down your washer’s energy expense. Using cold water puts less pressure on electricity grids, saving your household even more money and energy. Cold water washes are less likely to shrink or fade your clothing as well. To ensure your clothes still get clean, try using a cold-water detergent.

 

Right-size your loads

For both washing and drying, taking into consideration the size of your load can factor greatly into your savings. No matter the size of the load you wash, it costs the same amount to run a cycle. So instead of doing two small loads, wait until you have one large load. When drying, keep in mind that an overly full dryer will take longer to dry the clothes. A dryer with too few items inside costs more to operate.

 

Clean the dryer vent and filter

When the lint filter in your dryer gets clogged, airflow is reduced, and the dryer can’t operate effectively. Make a point to clean the filter after every use. If you use dryer sheets, scrub the filter every month to remove any film buildup. The venting that attaches to the back of your dryer also needs to be kept clean and clear.

 

Air dry

When the weather is sunny and warm, consider putting your clothes out to hang-dry. Doing so will keep your drying expenses to a minimum. It can also be a better drying method for clothing with delicate tailoring.

 

With staying at home being the new status quo, taking a look at the ways our homes use energy and incur expenses is more relevant than ever. These small changes in the laundry room are just some of the minor adjustments you can make in your household during these unique times.

Uncategorized May 26, 2020

Questions to Ask During Your Virtual Home Tour

Image Source: Canva

 

Thanks to COVID-19, the new reality is that many open houses and home tours are being conducted virtually. For prospective home buyers, this new territory brings an added element to prepare for in the home buying process. Some of the questions that should be asked in a virtual home tour parallel those of in-person tours, but others are unique to today’s virtual world.

 

Could you zoom in?

  • Sometimes it can be difficult to get a true glimpse at what you want to see in a room. Asking the agent to zoom in on specific features is commonplace in virtual home tours, and they understand this is part of the viewer experience. Don’t hesitate to ask multiple times. Getting a better look at everything you want to see will help you feel like you’ve gotten the most out of your virtual tour.

 

How many square feet are in this room?

  • Virtual tours can slightly distort space, making it tough to gauge the size. The room-to-room square footage is information the agent is sure to have handy. Since you can’t be there in person, it will help you piece together the virtual visuals with the sense of physical space that we’re all accustomed to feeling in the places we live.

 

What color is that?

  • In the smartphone era, and computer era at large, we have come to understand that digital representations of color are not always true to the eye. Ask the agent to confirm specific colors so you can plan accordingly. Have a color swatch on hand or look the colors up online as you go through the tour.

 

When were the appliances last updated?

  • The importance of this question rings true in past, present, and future. Knowing the state of the home’s appliances, and the likelihood and timing of when they will need replacement, is vital information for both assessing the move-in readiness of the home and understanding what costs might lie ahead.

 

Has the seller provided an inspection?

  • This is another example of a critical question, whether your home tour is virtual or physical. If the seller has already done an inspection, ask the agent to lead you to any areas of concern based on the inspector’s findings. If there is anything that has not yet been addressed by the seller, have your agent ask what their plan is for making the necessary repairs/updates.

 

When is the offer review date?

  • Understanding the seller’s timeline for reviewing and accepting offers will help guide your decision-making process and allow you to strategize based on the timeline.

 

Whether your home tour is physical or virtual, getting the information you need to make an informed decision remains paramount. Although there is no substitute for physically being in the home you are looking to buy, keeping these questions in mind will position you well as you progress through the home buying journey.