Hot Summer, Hot Real Estate Market: Better Homes and Gardens Real Estate Northwest Home Team helps you navigate the Thurston County market
LLike the weather, local real estate markets change seasonally. But in the Pacific Northwest we are fortunate to live where both are enviable and vibrant. Home sales are progressing strongly despite the uncertainty surrounding the pandemic and the future is looking bright for buyers, sellers and agents with the Better Homes and Gardens Real Estate Northwest Home Team.
The weather is hot, but the Thurston County real estate market is hotter, say realtors with the Better Homes and Gardens Real Estate Northwest Home Team. Photo Courtesy: Better Homes and Gardens Real Estate Northwest Home Team
“The market is flattening out a bit,” shares Jessica Poulos. She carries out many responsibilities as broker, designated broker and co-owner of the firm. “In May there were so few houses on the market. Now the stock is up a bit and we’re beginning to see more balance. COVID-19 deterred many sellers from listing their homes in the spring, but there was still strong demand for purchases. We had an influx of buyers; COVID didn’t seem to be slowing down home buying. This is likely due to low interest rates and high real estate values in neighboring cities like Seattle and Portland.”
When you are putting a home on the market, it is always best to do your research. At Better Homes and Gardens Real Estate Northwest Home Team, Poulos and her staff recommend, “As the inventory of homes increases, we think it’s wise for our sellers to be equipped and prepared to sell their home for the highest in the shortest possible time dollars to sell a lot of time, with the least amount of effort.”
Have yourself examined beforehand
A house may look fabulous, but only a professional knows what’s going on underneath. And while cosmetic changes are usually simple and inexpensive, major issues like plumbing, roofing, or foundations can cost thousands. “Many buyers and sellers are willing to waive their obligation to check,” says Poulos. “But we’re seeing some implications for that. Buyers waive inspections; Sellers accept bids without inspection quotas. And then, a few days before closing, shoppers get cold feet and wish they had their basics covered and an inspection done. They’re nervous because it’s the biggest purchase of their lives.”
There are simple ways to maximize your property before selling it and ensure you, the buyer, get a solid deal. Photo Courtesy: Better Homes and Gardens Real Estate Northwest Home Team
There is a simple solution. “Instead of letting and waiting for the buyer to do their own inspection, I suggest the seller do a pre-inspection — it only costs about $400 — and make any repairs or necessary updates to their home based on the home inspection . This gives the buyer the confidence to make a no-visit bid and reduces the risk of walking away with cold feet. The seller can also know in good conscience that there are no strangers haunting him.”
Clean and stage
In a hot market, it’s tempting to list the house quickly. But your 11 beloved cats, a collection of bobble heads, or dusty antique teapots won’t please everyone. “We believe in presenting your greatest investment exactly like this: your greatest investment,” says Poulos. “Make it shiny, beautiful and hard to say no.”
Why Clear Up Clutter? The answer is simple. “My typical experience when selling houses is that the second a buyer walks into the space, they know they love and want it. And when they know they love it, they start thinking as they look around, “How can I negotiate the price?” When they see a home with a strong pet smell or an odd furniture layout, it can be difficult to justify a higher selling price. Make your home the best home in the neighborhood and you’ll get the highest price in the neighborhood. Our team serves Thurston, Mason, Lewis, Grays Harbor and Pierce Counties and has an average sale price of $407,000.”
Use – and trust – your broker
When buying or selling, always use a broker you trust. With his knowledge, you can rest assured that you have received the best deal. Photo Courtesy: Better Homes and Gardens Real Estate Northwest Home Team
Sure, anyone can put up a For Sale By Owner sign in their yard. But an experienced realtor does more than just show the house or fight paperwork. “We here at the BHGRE Northwest Home team have very detailed strategies for our offerings,” says Poulos. “We put together a comprehensive market analysis for each and every home, even planning the day of the week to put it on the market.” Our marketing plan gets sellers top dollar. Thousands more than one FSBO.
Then there are prices. “Some realtors will tell you to price your house really high since inventory is so low,” she shares. “They say you will definitely get an offer. This strategy doesn’t work for us. We have found that this is not in the best interest of the seller as the seller only gets an offer when that is the case and the house stays on the market a bit longer leaving them very limited options when negotiating.”
But the other end of the spectrum isn’t optimal either. “Several realtors will tell you to undervalue your home so you get non-stop showings and lots of offers. What we found is that this strategy leaves buyers frustrated during the process because they feel like they paid too much. They beat up the seller on inspection and the whole closing process is frustrating for everyone. It is best to make three to five offers based on the actual market value of your property. That way, as a seller, you can see the closing date, closing cost and credit terms, as well as the price.”
Whether buying or selling, trust a professional to get you the best deal. If you’re ready, contact Poulos and her team today at 360.529.0992.