Market trends of Bothell, WA

It’s important to know the market trends in Lynnwood, Bothell and the North end when you consider selling your home. You must know the current data for your neighborhood.

Key price movement can be understood by market trends. In the price of medium sales, the market trends in Bothell illustrate a rise of 5% from 2008 to 2015 and they show a drop of -2 percent in medium rent every month. From 7 January 2008 to 6 April 2015 the medium price for 235 homes in Bothell was $415,000. The average square foot price was $244 which is a 14 percent increase from 2007.

Bothell is a great place for families since it has 21 of the best schools in the region. Additionally, authorities keep citizens aware of crimes in the area so residents can take precautions. People in Bothell mostly travel by car. However, there are other travel options available such as by bus.  Light rail will be coming as well in the near future.

Market trend of Lynnwood WA

In Lynnwood, the median home cost is $376,000. Home costs in Lynnwood have risen as high as 10.9% from 2008 to 2015 and within the next year home pricing is predicted to rise as much as 6.6 percent.

Lynnwood, WA is a good market value because it not only has great elementary schools and middle schools but it also has some of the best high schools, private and charter schools as well.

Market trend in the North End

For medium home sales the market trend in the North End shows a rise of $37,000 as of September 10 2015 which is a thirty-one percent increase. Furthermore, the ‘per square foot’ average price for 2015 increased from $94 to $116.

Overall there is a low crime rate in the North End. The more you familiarize yourself with crime trends in the north end, the better you are able to determine what areas you might want to live.

There are many schools in the North End which are conveniently located. If you decide to buy a house in the north end. Try studying the demographics for the area: the median ages of individuals, the number of people that are married, whether they attended college and have a degree etc. It will help you determine which area or neighborhood to buy in.

A few tips that can make a difference and a good impression on buyers and possibly lead to a sale.

Separate yourself from your Home and use the following tips:

Remove -Clutter

People have a tendency to accumulate to many items during the years of living in their home. Sort through them keeping what you really want and consider either donating or throwing away items of little importance. Remove your books from book cases and clean up everything on the counters of the kitchen. Put non-essential items into boxes and store them in a rented space temporarily. Your home should appear neat, tidy and give the appearance of a lot of space. This also gives you a head start on packing.

Rearrange-Cabinets in Bedrooms and the Kitchen

Buyers who come to see the house will look around and open up cabinets and closet doors. So organize everything inside, remove and store all non-essentials so that your cabinets and closets appear roomy. Not only does it appear to the potential buyer there is plenty of space for their items, it portrays that you are organized and that you take care of things and the house as well.

Storage Unit-Rent it

Homes look better when there is less furniture. So remove excess furniture to make the rooms look spacious.

Remove Items

Remove fixtures, appliances that are built in, and window coverings, if you plan on keeping them. Remember to remove these items that are important to you before you show the house to potential buyers.

Small Repairs

Inspect the floor or tiles on the counters. If any are cracked remove them and replace them. Also inspect all of the walls, if there are holes or gouges on them you will need to patch, repair and paint them to match.

Good looking bathroom

Have your bathroom look luxurious, consider hanging ribboned small towels, perfumed towels and fake plants. Make sure to match towels and bath mats as well. The bathroom should smell and look extremely clean.

Lighten up:

Rooms look good when they are bright and also look inviting and bigger as well. Windows coverings should be opened to let natural light come in and lamps should be used in dim places.

Nature

Plants make a room lively and flowers in a vase as well. So put pots in corners with good looking plants or flowers to draw attention to places you want to highlight as well.

Make something tasty

Have a homely smell to your home when a buyer comes in, make bake bread or cookies or light up a candle that is scented.

When people consider purchasing a home they want to know how long it will take. However, the time varies from person to person, there are many factors that determine the length of time to purchase.

In the confusion and the maze of financing, forms, inspections, pricing, marketing plus negotiating you should work with professionals. They will know information regarding houses and neighborhoods that aren’t always or easily available to the public.

When you want to purchase a house, most individuals will need to finance their home purchase. For this you should consult with a mortgage lender which is a crucial step in the purchasing process. To purchase a home, most financial institutions require a down payment. You should consider a mortgage broker or   bank to get a mortgage and there are various reasons for doing this. They can help you determine how much you are able to qualify for. Always keep in mind what your comfort level is regarding a monthly payment. The lender’s job is to let you know what the maximum purchasing power you qualify for is.

After you have determined what you qualify for. Take the time and educate yourself on the local market, consider working with a realtor. A realtor can provide great assistance by helping you determine your priorities which can ultimately help you decide which house is best for you in the area you are interested in.

Making an offer on the home you decide to buy. Use an experienced agent he/she should be able to negotiate for you the best price given market conditions.   In many cases the negotiated terms can signify thousands of dollars in additional value for the buyers.

Once a home has come under contract and you start the actual purchasing process. It is important to make sure and have an inspection on the home by a certified home inspector. The real estate agent you hire can help you arrange the inspection to be conducted. The inspection will serve two major purposes. The first and most important is to give you a full report on the condition of the property and alert you to any major issues that exist. It also will give you the ability to renegotiate the offer if there are major issues found and in some cases withdraw the offer if the seller is unwilling to repair issues the inspection identified.

Title and Escrow will be set up by the seller, however the buyer has the right to use a title company of their choice. The title and escrow company acts as a disinterested third party to the transaction but handles all of the fiduciary and financial documents necessary to purchase the home supplied by the lender and protects the buyer, seller and financial institution in the transaction.

Finally, in closing on your purchase you will attend a signing where the escrow company has prepared your closing documents for signing. Escrow will also prepare a final settlement statement that will be provided to you with all of the details of the entire transaction and your responsibilities regarding payments etc.

 Misconceptions of buying

A common misconception is that you need 20 percent as a down payment for a loan, but there are many loans available which facilitate a variety of financial needs for different individuals. Examples of this are Down Payment Assistance Programs, USDA, VA or a FHA loan which allow as little as 0 to 3.5% down.

Credit is another issue; most borrowers believe you must have a 740 credit score or higher to obtain credit for a purchase. In fact, there are currently programs available that only require a credit score in the 580 range for financing.

Other common misconceptions buyers have:

• A common misconception of buyers is that they think that the seller will make all repairs on the house from the inspection report.
• They believe that closing costs are paid by the seller.
• The price they have asked for is going to be the selling price.
• Most buyers believe that it is always more inexpensive to rent a home than to buy a home.
• They think they need a lot of credit to buy a house.

The first step would be to “shop around.” Many people work with the first agent they come across without a firm understanding of their level of experience. It’s always a good idea to interview a number of agents before selecting one. If you’ve gotten referrals from people you trust, then you may only need to interview 2-3 agents.

However, it can be tough to know what to ask in the interview process. Here are some questions that can help you qualify the best agent to help you achieve your real estate goals:

1. Can you send me some information about yourself? Look for professionalism and consistency. What are their accomplishments? See how they approach their work. If they’re a newer agent, ask about their team’s dynamic and accomplishments. You may asked an agent these questions, but also take time to research them on the Internet.
2. How long have you been in real estate? While longevity is important, even more telling are the number of transactions they have closed or been involved in. So feel free to also ask: “How many homes have you sold in this area?”
3. What will you do to keep me informed? Will the agent be able to meet your expectations? Determine how much communication you want, and then find an agent who will give you the attention and time you deserve.
4. Can you provide me with further resources I may need? From market reports and pricing trends to school performance and crime statistics, top agents should have resources at their disposal … or know where to find them.
5. Seller only: Can you share with me your plan to market my property? Many agents will simply put your home in the MLS and wait for it to sell. An amazing agent should have a detailed plan of how to get your home exposure on social media, to their local networks, and more.

GET STARTED

Now that you have the Top Questions to ensure you work with the best possible real estate agent, you’re ready to start interviewing agents.

We’d love an opportunity to win your business. Schedule a free consultation with us to find out how true market experts can help you achieve your real estate goals!

Are you in the market for a new house? In a buyer’s market, finding and closing on a beautiful home can seem very easy. However, if you are shopping when the market is hot, you may end up fighting bidding wars and losing your dream home to a competing buyer. Let’s take a look at four tips that you will need to be successful when house hunting in a hot local real estate market.

Tip #1: Do Your Research Ahead Of Time

It should go without saying that in a hot market you will need to move quickly. Making an effort to do all your research ahead of time will ensure that you do not have to later, once you’ve found the perfect dream home. Check in with your real estate agent to find out what paperwork and other material will be needed.

Tip #2: Get A Mortgage Pre-approval

Once you have found your dream home, you may discover that other buyers are interested or have submitted bids. In this case, it is crucial that you can demonstrate that you have your mortgage financing pre-approved. Remember that the seller wants to close their sale quickly and for the best price. Showing up with pre-approved mortgage financing proves that you are serious about buying their home.

Tip #3: Be Ready To Pounce (But Don’t Be Hasty!)

Speaking of being serious, it is essential that you are ready to pounce on the right listing. A hot market means that you won’t be the only potential buyer checking out a home. The last thing you want to do is find the right house, then end up losing the chance to buy it because of unnecessary delays.

Tip #4: Small Sacrifices Are Okay

The final tip to keep in mind is that sometimes you will have to make a small sacrifice to close the deal. For example, the seller may want some special terms added to the agreement. Alternatively, they might ask you to pick up some of the closing costs. Whatever the case, keep in mind that a hot market means that you lose a bit of leverage. If it’s a small sacrifice, it might be worth it.

Buying a house in a hot real estate market can be challenging, but a little preparation will go a long way in ensuring you are the winning bidder. When you are ready to buy your next home, get in touch with our professional team of mortgage advisors. We are happy to help you find the right mortgage for your goals and financial situation.

 

Have you been thinking about listing your house or condo for sale? As you are likely aware, the seasons play a role in our local real estate market and how busy it is. Nicer weather brings out the most in any real estate market, with buyers spending their evenings and weekends touring open houses and finalizing short lists. Many markets cool off a bit in the winter, but that does not mean that the buyers disappear

In today’s blog post we will explore why selling your home during the winter can beat waiting for the real estate market to warm up in the spring.

Interest Rates Are On The Way Up

One key consideration this year is that interest rates are trending upward. While it is impossible to predict the movements that the Federal Reserve will make, there is every sign that rates will tick upward soon. Mortgage interest rates tend to rise along with the Federal Reserve’s upward movements, so selling now means selling while mortgages are a bit cheaper.

There Is Less Competition In The Market

Another great feature of listing your home for sale during the winter is that you are likely to face less competition from other home sellers. Fewer homes in the local inventory mean fewer options for buyers that need to close on a home quickly. If your house is clean, in top condition and adequately staged, you can rest assured that it will stand out from the other available options.

It is true that there may be fewer potential buyers shopping for a new home during the winter. However, you will tend to find that winter buyers are serious about finding and purchasing a home. They are much less likely to be ‘window shopping’ or passing through viewing open houses.

Holiday Staging Is That Much More Fun

Finally, it is worth mentioning that staging can be a lot more fun during the holidays. Selling your home in the summer means trimming the lawn, keeping the garden looking clean and maintaining your curb appeal. Selling your home over the holidays means Christmas lights, decorations, baked goods and a more festive atmosphere.

Selling your home in the winter might seem a bit counterintuitive, but with the market easing up and less inventory available you will find serious, interested buyers. When you are ready to list your home for sale, contact us. Our friendly real estate sales team is ready to help ensure that you receive top dollar for your home.

Tom Themelis – Seattle Area Realtor, owner  of Why Not Own,  Sold the 19th Most Expensive Home in Seattle in 2017.

Why Not Own is a Seattle Washington area based Real Estate Company that prides itself on providing the easiest online search for homes to buy and sell throughout the State of Washington, especially close to Seattle with its many suburbs and close by communities. The result allows you the client, to find your home with ease in the privacy of your home, apartment, coffee shop, or wherever it is convenient for you to search homes.

 

Search Seattle area homes for sale by city, area, map, address, listing ID and so much more. When you have found a home or homes you like, simply contact us and we will gladly meet and show you your selected property or properties. We can than represent and assist you in the home buying or selling process from start to finish. Our highly trained and professional agents are like no other in the industry, their commitment to detail and ease of the buying process simply sets them apart.

Therefore, our number one goal is to earn your business by developing a long-term relationship based on professionalism, dedication, and results. We at Why Not Own look forward to work with you on your home purchase or home sale here in Seattle Washington and surrounding areas.

If you want your home SOLD contact me.

 

Click the link below to see  The 20 most expensive home sales of 2017 – Topping out at nearly $9 million

https://seattle.curbed.com/maps/most-expensive-home-sales-2017

Tom Themelis- Seattle Area Realtor

tom@whynotown.com

http://www.whynotown.com/

Call 206-755-7365