Happy Halloween…

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mountsi
A view of Mount Si adjacent to the Three Forks Off-Leash Dog Park

Here in the northwest it seems as if Halloween is the transition into holiday season and a time to reflect on the current year and prepare for next year.

I have plenty to celebrate as two of my listings closed and I have two to look forward to in the near future. Preparing a home for sale is never easy. It seems first there is the contemplative period of deciding whether or not to sell. After the decision to sell, there is the process of deciding what to do to get the home ready.

In some cases, the home may be an investment property and have tenants – selling a home with tenants in it opens up more questions considering lease agreements, tenants rights and marketing, to name a few.

If the home will be occupied by the tenants or owners, how will showings occur? It is much better to allow showings without an appointment, and to allow open houses, for the best exposure.

Next, how much work to put into the house? What will be the return on investment? In this seller’s market, neutral but contrasting colors are recommended, keeping in mind that the buyer might have completely different tastes. The buyer needs to be able to see their vision when they walk into a listing. Taking up or replacing carpets, redoing floors, even changing out countertops can bring more value to a point – in the end, the market will be the final judge on price.

Looking at the Seattle home price index, we have surpassed the high we had ten years ago in 2007. It has been a seller’s market and it could continue into next year considering Seattle’s economy is strong. Real estate trends seem to run in ten year cycles; we are moving into 2017 and according to the index, those who bought in 2007 have recovered their equity as prices are higher now than they were then. The question is, will the prices remain high or will we see a correction?

It could be a good time to sell, with interest rates being at a low.
Home Price Index
Mortgage Rate Chart

Of course, being an election year also brings challenges and the potential for changes…in the couple of weeks leading up to the election, there seems to be a bit of a lull, prompting some experts to say it is a good time to buy.

Regardless of what side of the fence you are on, looking at your own needs and goals in the short and long term will help to make some of these decisions.

Please contact me for a complimentary market analysis to help you make some of these difficult decisions.