Market Update: February 2019

 Market Update: February

Hi ladies and gentlemen,

Below I'll be going into the existing supply of affordable housing, the current interest rates, and how demand is continuing to grow in our area.

Housing Supply:

“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we expect to see a solid spring market.” Mike Fratantoni Chief Economist at MBA.

Housing Supply 19'

Interest Rates Decrease:

Due to interest rates remaining low, and inventory increasing the Chief Economist at NAR, Lawrence Yun, the Chief Economist at Zillow, Aaron Terrazas, and Freddie Mac all agree that the supply and demand is leading us into an increase in existing home sales. New construction home sales are expected to remain flat. Existing home prices are continuing to appreciate, but it is at lower levels than the last few years. The market is not depreciating, but the rate of appreciation is decelerating.

Feb Interest rates 19'

Low Inventory:

Our biggest challenge is the availability of supply. Low inventory coupled with sustained demand creates an opportunity for sellers to capture a higher sales price due to less competition.

Best price to sell

2019 will be a great year to capitalize on your properties equity.

Keep more money when selling your property!

Fill in the information below to find out how much your house would sell for.

Please enter your name.
Please enter a valid email.
Please enter a message.
Please check this field.

All the best!

5 Important Questions

5 Important Questions

 

We have all had a friend or family member that wanted us to buy something from them. Makeup, clothes, furniture, and the list goes on. I personally love shopping local and love supporting my friends and family but what about that age old saying “don’t mix business with pleasure”?

After years of serving people, I’ve come up with a way to find out if working with someone will be a good fit, regardless of if they are a friend of family member. The first step is to visualize that person, then ask yourself…

 

Is this person an expert in their field?

Malcolm Gladwell discussed becoming an expert in his best-selling book, “Outliers”. He proposes that it takes about 10,000 hours of deliberate practice to become an expert at any given topic. That’s about 10 years. So it takes about 10 years of intentional, mindful studying and practice to finally be able to claim expert status. Look at any given field. Electrical, beautician, auto mechanic, clothing designer, ect. When considering an investment opportunity, I’m forced to ask myself “has this person done the work and put in the time to become an expert?”

Is this person trustworthy with personal information?

If someone gossips to me, then the chances are high that they are gossiping about me to someone else. Sharing stories to communicate a point can be done in a way that doesn’t violate someone’s trust. When I consider working with someone, I always take into consideration how they speak of past client relationships. I have decided that I only partner with people who are transparent and honest enough to give it to me straight, but not too boisterous or open mouthed about personal information… especially about an investment or big decision. A real estate agent should ONLY be speaking with you and their designated broker about your transactions. Period. No excuses.

Can I ask questions without being made to feel stupid?

Every profession has inside language. Heck, every FAMILY has inside language! If someone is specialized in a field, they should feel secure enough to explain it to me in a way I can understand. If they aren’t willing inform me or take the time to answer my questions, I probably don’t want to work with them. Especially if it’s a financial investment! A sure-fire sign of expert status is that they can clearly lay out the stages or process to their profession without inside language or jargon.

Can I accept constructive criticism from this person?

This goes hand in hand with being able to ask questions. If I am going to trust someone with my time and money, and they have the heart of a teach and want to help me, there are bound to be things that come up where I just don’t know what is best… typically it’s because I don’t do it full time! So if my electrician is able to explain the rationale behind a process, I’ll probably trust their experience enough and go with their opinion. This is only after I am secure that they have my best interest in mind, not their bank account.

Is this person level-headed in difficult situations?

Financial purchases can turn emotional real quick! I have found that a big portion of my job is to help keep people grounded and focus on the facts at hand. If someone folds under pressure
over small matters, it’s safe to presume they will fold under big matters too. Making sure you have a level-headed viewpoint is so important when it comes to negotiating repairs and closing terms. You need someone who can help find solutions.

If your answer was no to any of these questions, then it sounds like you probably need to have a conversation with this friend of family member. If it’s not a good fit, that is okay! Explaining to them ahead of time that you are concerned about the relationship being at risk is a totally valid. Any friend worth their weight will understand and may even have the same thoughts.

On the other hand, if you were able to say Yes about the person you were visualizing, then it is probably fine to work with them! Personally, I have found that friends and family members tend to do a BETTER job and care more about protecting me than someone that I don’t have a connection with.

Get the 7 secrets to a stress free transaction here! 

Real Estate Vocab

10 Real Estate Terms Every Seller Should Know

 

Asking questions can be intimidating! But would it help you to know that you’re not alone? Say you have a classmate named Amanda, and  Amanda always raises her hand in class and asks the questions you’re thinking. Wouldn’t that encourage you to raise your hand and ask questions, too? Well, consider Amanda’s hand raised! 🙋 Here are the most commonly misunderstood real estate terms and phrases.  

1) Pending

Once a buyer and seller have reached mutual agreement on the terms of a sale, the property will then be moved from “Active” to “Pending”. 

2) Earnest Money (EM)

Once a buyer and seller have reached mutual agreement on a contract, the buyer will then deposit a set amount into an escrow account. This earnest money (EM) shows the seller that the potential buyer is EARNEST about buying the property. When the property closes, the EM is then put towards the buyer’s down payment.

3) Escrow

Escrow is a term that refers to a third party that is hired to handle the transaction, the exchange of money and any related documents. Placing Earnest Money, for example, into escrow means to place it in the hands of a third party until certain conditions are met; once the transaction has closed the escrow company will disburse the funds appropriately. 

4) Appraisal

An appraisal is an assessment done by a certified appraiser to determine the value of the property. The appraisal is usually based on an analysis of comparable sales of similar homes nearby. 

5) Dual Agency

Dual Agency is when one agent represents both the buyer and the seller, instead of just one or the other. Depending on state laws, real estate agents are able to represent both the buyer and the seller in the same transaction. There are some states that do not allow dual agency.

6) Bank Owned & Short Sale

When a property owner defaults on their mortgage, the lender will sometimes allow the seller to sell as a short sale. That means that the bank has agreed to let the home be sold for less than the balance on the current owner’s loan. A bank owned property is when a  lender won’t agreed to sell the property for less than what is currently owed on it, so the property has been foreclosed on and is now “Bank Owned.”

7) Comparative Market Analysis (CMA)

A CMA is an analytic report to help real estate agents strategize what the hyper local market is doing in order to determine your property value. The analysis is conducted based on the active, pending, and sold values of similar properties in the same area within a specific time frame. The CMA report should help you in understanding what a realistic listing price is, and whether or not you’re buying a property for the right price.

8) Commission

Real Estate agents are paid on commission. This is an agreed upon % of the sale price which is then divided between the selling and listing agent, it is typically 6%. Once a transaction closes, the seller will pay the originally agreed upon percentage of the purchase price from the net proceeds of the sale. In Washington State, the seller pays 100% of the real estate commissions.

9) Equity

A property owner’s Equity is the difference between the fair market value of the property and the amount still owed on its mortgage or other liens.

10) Encumbrance

An encumbrance is a claim against, limitation on, or liability against real property. Encumbrances can restrict the owner’s ability to transfer title to the property or lessen its value. Having the awkward conversation is worth it, guys.

Helping you understand real estate lingo is one of my favorite topics because it is SO important, and because real estate holds a special place in my heart. If you have any Real Estate questions, or pain points in your Real Estate journey, I would love to break it down into bite-sized pieces and serve you up a hot plate of awesome.

Leave a comment with any other terms or resources that you would find helpful!

5 Things To Avoid When Selling

5 Things To Avoid When Selling

 

Put your bright yellow buyers cap on with me and imagine you’re searching for a new home. A place you can be comfortable inviting your friends over for a birthday party, or hosting the next family holiday. You’re scrolling through the different properties online and decide to go see a few in person… now ask yourself, what differentiates the properties to you? What helps you filter the properties you just want to see online and which you are compelled to see in person?

 

After decades of witnessing just about every listing faux pas, misstep, and bad marketing strategy out there, I’ve compiled the top 5 things to avoid when selling your property. Let’s get your listing from one they just want to see online, to one they are compelled to see in person!

1. Waiting to market

In today’s modern social media world, there are plenty of ways to create intrigue before your house actually goes live on the MLS. Preliminary marketing and preparation is just as important as the actual marketing itself! Make sure your property is marketed and targeted on social media platforms and to the right audiences.

2. Showing only by appointment

Having people coming in and out of your house all day long is not the only alternative to showing by appointment only. But I gotta’ tell you, the most common reasons a listing doesn’t get shown is because there is a “by appointment only” requirement for the listing. There are plenty of legitimate reasons to want by appointment only, but if there are only a few hours each day the house is accessible to be shown then the likelihood of the buyer viewing and making an offer on another home goes up dramatically. To ease the anxiety of showings, I’ve come up with a sellers care package, but just understand that if you require an appointment, there are some buyers that will never even get the chance to see your property in real life.

3. Bad photos

We all know that a picture says a thousand words. Having clear photos is critical to communicating a properties value to prospective buyers. Not only do you need clear, well cropped photos, but you need photos of the right areas! Places like kitchens, living rooms, and areas of the property that stand out should be the only photos listed. You want to encourage them to come and see more!! Not give it all up at first glance. Striking the right balance is extremely important.

4. Ignoring Curb Appeal

Thanks to shows like Fixer Upper, the DIY craze has inspired and empowered an entire generation to take on rehabbing their homes instead of buying brand new. What this means to existing properties is that they no longer need to take a shot in the dark and replace the floor coverings. Or remodel the kitchen before someone will want to buy. The one thing that people will notice right away, and draw them to come inside and see more is the first impression. The curb appeal! Add some cemetery to the front porch. Consider painting your door a bold, bright color. Clear out the dead plants, and maybe spread some grass seed. Remember… first impressions may be all you get when selling, so make it count!

5. Not working with a professional

Everyone knows someone who sells real estate. The threshold for entry is entirely to low. If you’re serious about selling your property for top dollar, work with someone who has a heart to serve, and the background to cover your ASSet 😉 If you have a friend that is a real estate agent, check out the 6 questions you should ask yourself before working with a friend or family member in the biz.  

Here’s the deal, if you want to sell your property for top dollar, you need to speak with someone who can help reduce your anxiety, help you take calculated risks, and bring you from just another property on the market to a property that will actually sell.

Get the 7 secrets to a stress free transaction here! 

Market Update: January 2019

 Market Update: February

Hi ladies and gentlemen,

Below I'll be going into the existing supply of affordable housing, the current interest rates, and how demand is continuing to grow in our area.

Housing Supply:

“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we expect to see a solid spring market.” Mike Fratantoni Chief Economist at MBA.

Housing Supply 19'

Interest Rates Decrease:

Due to interest rates remaining low, and inventory increasing the Chief Economist at NAR, Lawrence Yun, the Chief Economist at Zillow, Aaron Terrazas, and Freddie Mac all agree that the supply and demand is leading us into an increase in existing home sales. New construction home sales are expected to remain flat. Existing home prices are continuing to appreciate, but it is at lower levels than the last few years. The market is not depreciating, but the rate of appreciation is decelerating.

Feb Interest rates 19'

Low Inventory:

Our biggest challenge is the availability of supply. Low inventory coupled with sustained demand creates an opportunity for sellers to capture a higher sales price due to less competition.

Best price to sell

The bottom line is that a changing market is not a bad thing. It is a sign that our economy is starting to stabilize. If you have been considering selling, now is a great time. There is a pent up demand for well priced, existing homes.

Keep more money when selling your property!

Fill in the information below to find out how much your house would sell for.

Please enter your name.
Please enter a valid email.
Please enter a message.
Please check this field.

All the best!

Achieve

The Secrets to Achieving Your New Year's Goals

 

Welcome to January!!

You know what the means… New Year’s resolution time. With the holiday stress behind us, it’s our communally agreed upon time of year to create resolutions and shout them from the rooftop in hopes that maybe some of them will stick.

I don’t know about you but setting and achieving New Year’s resolutions, in the past, hasn’t always been that easy for me. Sure- Shouting them from the virtual rooftop is easy, but achieving those goals is way different than just throwing them out to the world and praying something works out. After years of refusing to set any more resolutions, I’ve decided to re-phrase and be more strategic with my goal setting.

Here is how I am cracking the code on my New Year’s goals:

PREPARATION

In preparing for the New Year, I did some digging into where our new year’s resolution came from and was surprised to find out that the Babylonians were the first people to set resolutions over 4,000 years ago! The most notable differences between their tradition and ours is that their year didn’t begin until the middle of March, when they planted crops and that they actually DID SOMETHING to achieve the outcome they wanted. This was not just a fun little annual game they played. Preparing for the new year was vital to their survival!

Maybe you’re like me and your first thought was “What does a tradition from 4,000 years ago have to do with us in 2019?!”

But then I remember when I first started gardening 3 yrs ago. I planted stuff in the wrong spot so it wouldn’t have enough sun, or sometimes the plants would have to much sun and get burnt up! And even after learning what plants liked what kind of light, I planted some beautiful flowers to close and instead of thriving like I wanted them to, they were crowding each other out and producing way less fruit than I was wanting.

Gardening is just a therapeutic hobby for me, but what if my family’s survival was dependent on those plants producing as much food as possible? You betcha’ my gardening journal would be full of notes from previous years failures and wins! I really think the Babylonians were on to something, so I’ve decided to try this new year’s thing again.

 

It's not about what you want right now, it’s about what you want most

 

WRITE IT DOWN & BE SPECIFIC

We all want to live intentionally and thrive. But, being intentional can be difficult! The time factor is what throws a wrench in my plans every time. So, what should we do? Schedule it in. If I say something is a priority, then I need to plan and prepare for it! Google calendar has been a huge help for scheduling more efficiently.

Writing down goals is proven to increase our success rate. So let's do that too!

Here are the 6 areas of my life I will be planting seeds and scheduling time for watering:   Personal, Spiritual, Professional, Intellectual, Financial, Physical

The S.M.A.R.T goals framework is my prefer method of clarifying: Specific, Measurable, Achievable, Relevant, and Time-Bound

FIRST STEPS

Working with a 12 month lead time is just to much for me. Working with quarterly, weekly, and daily goals worked great for me in 2018 so I will be bringing that over into 2019. It’s okay if you get off course or need to re-frame your goal structure along the way. The goal is not to create this rigid timeline… but rather to spend time clarifying what matters to you and working towards those goals every day. Our years are made up of how we spend our months, months are made up of how we spend our weeks, and our weeks are made up of how we spend our days. Make them count!

All of us want to harvest the fruit - that’s the fun part - but unless we are planting and watering, we will never be able to reap! Setting New Year’s resolutions is like a fun game we play. Rarely any risk and rarely any reward. I want to challenge you to be an achiever this year, and not just another goal setter. I made a planning guide to help us with setting and achieving our goals, maybe it will help you too... enjoy!!

All the best!

Let’s get a little personal

Let’s Get a Little Personal


This post is a little personal.

Today, I am sharing about my dad’s journey with selling his house. How he came to live with my family, what brought him to the decision to sell his house in California, and what having a multi generation household looks like for us.

See! It’s a little personal! But I’m not all business… so here goes.

How my dad came to live with my family

In 2016 my dad’s wife passed away. After 23 years of marriage, 7 kids and 10 grandchildren, a child’s death, and beating a typically fatal illness together, my step mom went home. Her being gone left my dad heartbroken, which led to some difficult circumstances and decisions. They were best friends and overcame a lot together.

Why he chose to sell

On December 27th of 2017, my dad fell and hit his head on the concrete so hard that he had 7 brain bleeds. After months of praying and treatment, he eventually woke up. He was getting stronger every day and it seemed best for him to leave the hospital and move in with one of us kids, so I flew down to Sacramento and drove him back to Washington! I had flown down 12 times in a 5 month period so I was glad to start finding some stability again.

After a few months of healing, he decided to go back to down to his house in California and spend some time. While he was there, he realized that it was time to sell the house and find a new adventure.

Our new normal

When he arrived back in Washington and let me know that his house was for sale, the reality hit me hard. I reviewed his listing contract and helped him sort through the different phases of a real estate transaction. This past week was so serious. We flew down to his house on Tuesday, and within 5 days we cleared out the accumulation of 5 generations. We are so grateful to friends and family for helping out! Needless to say, it was emotionally and physically exhausting.

The house just closed yesterday, and we are finalizing the paperwork and figuring out what it looks like to live together as 3 generations under 1 roof. Truth be told, he is a great house guest. He and I did not have much of a relationship while I was growing up so we are getting to know each other in a unique way.

Takeaway

2018 has been a difficult year. I have been stretched and wrung out more than I have ever experienced before. Family is a strange thing – we all view it differently and the titles of the different people in our life can stir up all sorts of different emotions and memories. My personal and professional skills have been tried every step of the way this year and I can honestly say my compassion and humility have grown far greater than it ever could have without the trials we have gone through.  Maybe that’s the “take joy” part of Romans 5.

It seems like life is just that way – trials WILL come. Situations WILL go wrong. But how we react to those realities is what refines us.  I heard this phrase and just love it:

When you squeeze an orange, you get orange juice

When you squeeze a lemon, you get lemon juice

And when you squeeze a human – whatever is stored up inside comes out.

 

This life will never be perfect. We are guaranteed to have valleys and mountains… but the choices we make every day are what make up the stuff that comes out when we are under pressure & being squeezed.

My goal is for compassion and truth to come out when I’m squeezed. I have a LOOOONNNNGGG way to go, but I’m closer every day. What comes out when you’re under pressure and are required to perform?

Market Update: December 2018

 Market Update: February

Hi ladies and gentlemen,

Below I'll be going into the existing supply of affordable housing, the current interest rates, and how demand is continuing to grow in our area.

Housing Supply:

Housing Supply 19'

“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we expect to see a solid spring market.” Mike Fratantoni Chief Economist at MBA.

Interest Rates Decrease:

Feb Interest rates 19'

Due to interest rates remaining low, and inventory increasing the Chief Economist at NAR, Lawrence Yun, the Chief Economist at Zillow, Aaron Terrazas, and Freddie Mac all agree that the supply and demand is leading us into an increase in existing home sales. New construction home sales are expected to remain flat. Existing home prices are continuing to appreciate, but it is at lower levels than the last few years. The market is not depreciating, but the rate of appreciation is decelerating.

Low Inventory:

Best price to sell

Our biggest challenge is the availability of supply. Low inventory coupled with sustained demand creates an opportunity for sellers to capture a higher sales price due to less competition.

Keep more money when selling your property!

Fill in the information below to find out how much your house would sell for.

Please enter your name.
Please enter a valid email.
Please enter a message.
Please check this field.

All the best!

Renovate vs. Move

The Secrets to Achieving Your New Year's Goals

 

Welcome to January!!

You know what the means… New Year’s resolution time. With the holiday stress behind us, it’s our communally agreed upon time of year to create resolutions and shout them from the rooftop in hopes that maybe some of them will stick.

I don’t know about you but setting and achieving New Year’s resolutions, in the past, hasn’t always been that easy for me. Sure- Shouting them from the virtual rooftop is easy, but achieving those goals is way different than just throwing them out to the world and praying something works out. After years of refusing to set any more resolutions, I’ve decided to re-phrase and be more strategic with my goal setting.

Here is how I am cracking the code on my New Year’s goals:

PREPARATION

In preparing for the New Year, I did some digging into where our new year’s resolution came from and was surprised to find out that the Babylonians were the first people to set resolutions over 4,000 years ago! The most notable differences between their tradition and ours is that their year didn’t begin until the middle of March, when they planted crops and that they actually DID SOMETHING to achieve the outcome they wanted. This was not just a fun little annual game they played. Preparing for the new year was vital to their survival!

Maybe you’re like me and your first thought was “What does a tradition from 4,000 years ago have to do with us in 2019?!”

But then I remember when I first started gardening 3 yrs ago. I planted stuff in the wrong spot so it wouldn’t have enough sun, or sometimes the plants would have to much sun and get burnt up! And even after learning what plants liked what kind of light, I planted some beautiful flowers to close and instead of thriving like I wanted them to, they were crowding each other out and producing way less fruit than I was wanting.

Gardening is just a therapeutic hobby for me, but what if my family’s survival was dependent on those plants producing as much food as possible? You betcha’ my gardening journal would be full of notes from previous years failures and wins! I really think the Babylonians were on to something, so I’ve decided to try this new year’s thing again.

 

It's not about what you want right now, it’s about what you want most

 

WRITE IT DOWN & BE SPECIFIC

We all want to live intentionally and thrive. But, being intentional can be difficult! The time factor is what throws a wrench in my plans every time. So, what should we do? Schedule it in. If I say something is a priority, then I need to plan and prepare for it! Google calendar has been a huge help for scheduling more efficiently.

Writing down goals is proven to increase our success rate. So let's do that too!

Here are the 6 areas of my life I will be planting seeds and scheduling time for watering:   Personal, Spiritual, Professional, Intellectual, Financial, Physical

The S.M.A.R.T goals framework is my prefer method of clarifying: Specific, Measurable, Achievable, Relevant, and Time-Bound

FIRST STEPS

Working with a 12 month lead time is just to much for me. Working with quarterly, weekly, and daily goals worked great for me in 2018 so I will be bringing that over into 2019. It’s okay if you get off course or need to re-frame your goal structure along the way. The goal is not to create this rigid timeline… but rather to spend time clarifying what matters to you and working towards those goals every day. Our years are made up of how we spend our months, months are made up of how we spend our weeks, and our weeks are made up of how we spend our days. Make them count!

All of us want to harvest the fruit - that’s the fun part - but unless we are planting and watering, we will never be able to reap! Setting New Year’s resolutions is like a fun game we play. Rarely any risk and rarely any reward. I want to challenge you to be an achiever this year, and not just another goal setter. I made a planning guide to help us with setting and achieving our goals, maybe it will help you too... enjoy!!

The Ultimate Seller's Checklist

Learn what buyers are looking for. This checklist will help you:

✓ Reduce the risk of inspection surprises

✓ Save Time by knowing what matters

✓ Increase market appeal

✓ Avoid mistakes by working with an expert

Please enter your name.
Please enter a valid email address.
Something went wrong. Please check your entries and try again.
charles-763675-unsplash
logo_web_black

We will only use your information to send you promotions, special offers, and updates. We will not share or sell your personal information. 

Privacy Policy: We hate spam and promise to keep your email address safe.

How much is someone willing pay for your property?

Fill in the form below and I'll be in touch with your properties value! You may have more equity than you think.

Please enter your name.
Please enter a valid email.
Please enter a message.
Please check this field.

All the best!

Winter Tips

5 Easy Winter Tips

 

Winter can be a formidable foe, but these 5 tips will help you be ahead of the ball this winter… instead of behind it.

1. Store your outdoor tools

Detaching your hoses and storing them somewhere covered for the winter will extend their lifespan. It would also be wise to cover your spigots with a faucet cover so the winter cold doesn’t get into your pipes and cause unnecessary damage.

Read moreWinter Tips