2016 1st Quarter Newsletter

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The Same Old Tune

Even as the birds of springtime sing their new songs of the season, we must hit repeat as we report – once again – on our local market’s low inventory.  A lack of available homes continues to dictate what’s happening in Bainbridge Island real estate. On April 1st, there were only 47 homes and 5 condominiums available for sale on the island. Within the overall market, certain price points have been more pinched than others (which is a snapshot in time and will change as the year goes on). For example, if you were looking for a home in the $600K to $800K range, you had only 5 houses to choose from and zero condominiums.

How Inventory Affects Sales and Prices

This extremely limited inventory helped drive home sales down more than 20% from last year. There are plenty of buyers out there; there are just not enough properties on the market to sell.  The scarcity of inventory has increased competition and bumped median prices up more than 9%. The average, which is more a function of the price ranges where homes closed, was up more than 18%.  The median cumulative days on market dropped from 26 in 2015 to 20 in 2016.  To put this in perspective, the cumulative days on market in 2012 was 146 days.

The Story on Condominiums and Land

The condominium market is also suffering from lack of inventory. Last year at the beginning of April, there were 16 condominiums available compared to this year’s 5; both of which lie in sharp contrast to 2012, when there were 45 available. Consequently, sales dropped from 19 to 16, but the median price rose 23% to $430K. Land, on the other hand, experienced a 30% increase in sales to 13 parcels this quarter with a 26.8% increase in the median price to $225K.

The View from Inside

One might assume that a market like this, with rising prices and inventory competition, makes our jobs easier. The reality is that there are some basic principles, goals and strategies that any good real estate professional seeks to embrace, all of which must adapt to an ever-changing market.  Regardless of the climate, we want our clients to achieve the best possible outcomes – both at closing and in the future.  This is sometimes easier said than done, especially when competition is fierce and time is of the essence.  Given the complexities of the Bainbridge market, where most homes and locations are unlike any others, things can get even more challenging. It is not like buying or selling in a large subdivision where a product like Zillow has some merit. Here, each house has strengths and weaknesses and the success of a sale can pivot on those subtle nuances.  

If you’re a Buyer

For buyers in this market, supply is tight and prices are rising. You almost have to assume you will be competing with others when you find the house you would like to make your home. Is the price fair? How high should you go? The specter of 2006 and 2007 should be in the back of your mind, as the concept of paying “whatever it takes” came back to bite many homebuyers. An agent brings knowledge of the current market, the choices it offers, what might be coming and how an individual house fits into the bigger picture – including the history of the neighborhood and often of the house. An agent will know whether a price is in line or whether the seller is being aggressive. When there are limited comparable properties, this expertise becomes extremely important. No one wants to hear, “You paid how much for your house?!”

In multiple offer situations, there are strategies to employ. You need to line up your resources to be “the best you can be.” Multiple offers often require that decisions be made quickly, so being prepared makes you a stronger buyer and one less likely to be disappointed later. If you are not a cash buyer, there are things you can do to compete with those who are. Get comfortable with the stack of forms you’ll be asked to sign. Ask your Realtor what it means to omit certain forms, how to read building inspection reports and Title reports. Learn how to spot red flags that make certain houses less expensive. Being a buyer in this market can be difficult, frustrating and even scary. A good agent can help you navigate the winding road to achieve the best results and avoid mistakes.

If you’re a Seller

Sellers may think they have it easier, but the reality is that a seller’s quest is the same in an ascending market as in a descending one. The two primary goals for sellers are to get the home sold in the timeframe desired and to maximize net proceeds. Buyers will be more attracted to, and will ultimately pay more for, a house that is optimized to appeal to a buyer and priced in a manner that a buyer feels is reasonable in the current market. Knowing the current market, as well as past and future markets and how a particular home fits into all of them, is essential in achieving the seller’s ultimate goals. But the work is just beginning when buyers first express interest.  You have to know which of them will have the greatest possibility of actually achieving a closed transaction. It is surprising how many transactions fall apart in this market. Negotiating inspections, Appraisals, Sellers’ liability; what do all those forms mean and what are your responsibilities? There are many steps between deciding to sell and achieving your goals. The reality is that sellers don’t always get everything they hope to get out of a sale – even in a sellers’ market.  But an experienced agent will help you prepare, present and respond so you can get the most out of any market.

The Constant

 Real estate markets fluctuate all the time, sometimes favoring buyers and sometimes favoring sellers. This is simply the nature of the business.  But in the midst of all those ups and downs, one thing remains consistent: the beauty and livability of Bainbridge Island.  At Windermere Bainbridge, we celebrate our island community and all it has to offer.

 

Jackie_Syvertsen

Posted on April 27, 2016 at 10:46 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate, Bainbridge Island Real Estate Statistics, Newsletter | Tagged , , , , , , , ,

Decorating a Small Front Stoop

Grand porches get more press, but you can pack just as much style into a small space. Whether you have a city stoop, an apartment building landing, exposed exterior stairs or a small porch, these 10 ideas will help you make the most of your home’s entrance.

1. Add a quirky planter. Done with that umbrella stand? Tuck a plant pot in there for an instant transformation. Or take a funky vintage find, like an elephant-shaped stool, and use it as a plant stand beside the front door. It’s sure to make guests (and you) smile.

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2. Paint your door a bright color. A cheerfully bright, mood-boosting hue is a great way to light up a small or dark entryway. Try yellow, lime green or aqua.

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3. Paint pots to match your door. This is quite possibly the easiest way to make your front entrance feel put together: Cluster flowerpots in the same hue as your front door on the stoop. Stick with odd numbers and vary the sizes of the pots for a more casual look. For a formal entrance, choose two giant, identical pots to flank the door.

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4. Roll out a big rug. Why stick with itty-bitty doormats when you can offer guests a big, cheerful outdoor rug instead? A larger rug on a small stoop will help the area seem more spacious — a tiny doormat tends to break up the space. A big rug on the porch also does wonders for hiding imperfect floors!

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5. Position trellises to frame the entrance. Positioned at each end of the porch or front steps, trellises provide welcome privacy and shade to the entrance. If the area gets good sunlight (and the climate allows), why not plant something fragrant, like jasmine, so you can enjoy a delicious scent each time you return home?

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6. Style some beachy finds. Driftwood, shells, glass lanterns, striped beach blankets and woven seats create a laid-back vibe on this front porch. If you have only a tiny amount of room, try arranging a single chunk of driftwood, a big shell and a glass lantern beside the door.

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7. Plant a window box. When you hardly have a stoop, let alone a full porch, it can be difficult to find ways to personalize your space. Try hanging a window box from the front window and installing a handsome lantern beside the door.

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8. Invest in topiary. A pair of topiary trees or neatly trimmed potted shrubs flanking the front door makes for an elegant entrance. You can’t miss with classic blue and white ceramic pots, moss-covered concrete or black urns, or square wooden planter boxes. If your stoop gets zero sun, consider investing in high-quality fake topiary — it’s really hard to tell the difference, and you can’t kill it!

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9. Draw the eye up with hanging baskets. Big hanging pots of ferns look bountiful and lush, and can handle the shade under an eave. Be sure to choose pots that are on the large side, and hang them about two-thirds of the way up from the porch floor — small pots hung too high look awkward.

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10. Swap plain numbers for an address plaque. A custom address plaque imparts more sophistication than plain house numbers. If you like, personalize it further by making up a name for your house.

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Jackie_Syvertsen

Posted on April 6, 2016 at 10:53 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate, Fun Things to do on Bainbridge Island, Home Improvement, Uncategorized | Tagged , , , , , , , , , ,

Falling in love with “Home”

Whether you're an owner or a renter, odds are that you have a complicated relationship with your home. As with any relationship, there are ups and downs, good times and bad, things you love and things you hate. But despite it all, you stick with it — hopefully because you love it. 

And also as with any relationship, your love for your home progresses as time goes on. But there's always that honeymoon stage, the time when you're totally infatuated. We asked what one thing made you fall in love with your home — the thing that tipped you over the edge and made you decide it was the place for you.

Here is a list of items that make my clients swoon, over and over again.

Grand fireplace

Sometimes functional items are designed so beautifully that they blur the line between architecture and art. The fireplace surrounds in this collection are sculptural, stunningly beautiful and, arguably, works of art.

Jackie Syvertsen

Fireplace 2

FIreplace 3

Transom windows/sunlight

There are many reasons for using transoms. Here's the rundown on this fun-to-say architectural term. Transoms gained popularity after being used in spaces where an intricate shape or style door met another transverse architectural element. Pretty and purposeful, transoms are often used as ornamentation. They can also be functional; adding more sunlight to a room and (with the right hardware) they can swivel forward or backward for good air flow from the outdoors.

Jackie Syvertsen

Transom 2

Transom 3

A Kitchen you’re proud to show off to friends and family

What makes the perfect kitchen? The answer is as varied as cooks are. Style is easier to recognize with your eyes than with words: You know it when you see it, and the one that inspires you most can often surprise you. From ultra-modern minimalist design to rustic woodwork and everything in between… your only limits are in your imagination and your wallet!

Jackie Syvertsen

Kitchen 2

Kitchen 3

Historical charm relevant to the home but renovated with greener products

Although interior and exterior appeal is essential, history is what earned some homes a spot in people’s hearts. Bainbridge Island is full of beautiful vintage homes that are purchased and renovated yearly. In keeping with adaptive reuse of landmark buildings, subtle renovations can preserve the remarkable craftsmanship and details of bygone eras – while using newer, green products that enhance the style of the home while providing the amenities that modern living requires.

Jackie Syvertsen

Vintage 2

Vintage 3

Indoor/outdoor living space

Some homeowners are all about being able to maximize long summer days with an indoor/outdoor living space that can also be used on slightly less warmer Spring and Fall Days. An outdoor living room complete with a covered area and amenities like a fireplace and cooking area expands your home into new world of dining and living al fresco.

Jackie Syvertsen

Outdoor Living 2

Outdoor Living 3

High Ceilings/unique ceilings

Space and high ceilings make all the difference for some people. The open airy feeling lends to a feeling of sophistication while also making even a smaller home feel much larger. Add a unique ceiling with box beams, exposed rafters or timber framing and suddenly your ceiling has become a large part of your home’s architectural style.

Jackie Syvertsen

Ceilings 2

Ceilings 3

Amazing View – Water or Territorial

Many people fall in love with the beautiful surroundings and views before actually falling in love with their homes. Whether it is large territorial view, a wooded sanctuary or open water view –  a view that speaks to your heart can make any house a home.

Jackie Syvertsen

View 2

View 3

Statement Staircase

Examples of artful staircases can be found as far back as 1500 BC in ancient palaces in China – but open interior staircases on an ambitious spatial scale cannot really be found before Michelangelo’s at the Laurentian Library, Florence Italy (1524–71).  For many people, a grand staircase can turn a functional part of a home into a focal piece of art that makes them fall in love with a home immediately.

Jackie Syvertsen

Staircase 2

Staircase 3

Interior details like round doorways, wood work, bookshelves and other charming details

Wood is becoming more and more expensive, and the level of craftsmanship in older homes is much higher than what you typically find in a new construction. This may include floors, trim, molding, fireplace mantels, bookcases, china cabinets, staircases and more. Embellishments on cabinetry can make a lovely room feel even more special. Leather, metal and even glass can be used to step a look up a notch.

Jackie Syvertsen

Details 3

Custom or Elaborate Doors

And finally… If a home is a place of meaning, doorways are the most meaningful parts. An opening connects one space with another, while a door sets the stage for the human interaction. Opening a door and crossing the threshold moves us from one realm to the next — from outside to inside, from public to private, from bedroom to bathroom, from big space to small space, from cold to warm.

Jackie Syvertsen

Elaborate Door 2

Elaborate Door 3

Posted on March 2, 2016 at 11:46 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate, Home Improvement | Tagged , , , , , , , ,

New Listing in Wing Point

1131 Cherry Avenue NE
Bainbridge Island, WA 98110

Offered at $798,000

Traditional craftsman-style home in a fabulous in-town location near schools, ferry, shopping and Wing Point Golf Club. Bright and cheerful featuring sunny western exposure overlooking multiple fairways. Amenities include a welcoming foyer and cozy den, open living/dining, fantastic updated eat-in kitchen and great room with French doors to spacious deck, perfect for year round entertaining! 
Luxurious master bedroom and bath, 2 more bedrooms and guest bath an abundance of storage throughout. Detached 2-car garage with room for golf cart all located on a select lot On the Green featuring all day sun and across from protected open space. NWMLS #877179

On The Green at North Point

On The Green at North Point

 

To view the entire listing online, click here

 

Jackie 98110

Posted on December 18, 2015 at 10:23 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate | Tagged , , , , , , ,

2015 3rd Quarter Newsletter

Posted on November 3, 2015 at 10:01 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate, Bainbridge Island Real Estate Statistics, Newsletter | Tagged , , , , , , , ,

Roofing Design Options

Choosing the roof style and which materials to use can be a daunting process.  The roofing material you choose can truly enhance the beauty of your home. The type of material, style, color and cost are all major factors in making the best selection. Additionally eco-friendly alternatives, such as those with a high Energy Star rating and materials that can be recycled, are options that you may want to consider when making your decision.

Investing in a new, energy efficient roof can save a great deal of money throughout the life of your home or business by reducing energy consumption and winter heat loss and summer heat gain.

 

Tried and True Classic Roofing Materials

Get an Old-World Look with Clay Roof Tiles

Authentic clay tile is the historical roof material of choice, dating back to ancient times, and it comes in various soft and rich, earthy colors. It’s a look that pigmented concrete cannot faithfully replicate. Rather than fading with time, clay tiles patinate, blossoming splendidly, and for some architectural styles, clay roofs are the ideal option if you can swing the cost.

 

Slate Makes for Fireproof Roofs That Last

This high-end material is expensive but long lasting. In fact, slate has been a preferred roofing choice of homeowners for hundreds of years. Any material that stands the test of time like this is one that should be on your radar. Genuine slate is a metamorphic stone most often found in quarries in northeast North America, the United Kingdom and Brazil. As a roofing material, no other product can match its durability, high-end appearance and fireproof qualities. Slate quarried for roofing is a dense, sound rock that's exceptionally tough and substantial. 

 

Asphalt – Affordable and Easy to Install

Let’s just get this out of the way: Asphalt shingles are not exciting. Your friends will not drop their jaws in awe over this material, and if your home were a Broadway production, asphalt shingles would not be the star of the show. But that’s OK. Asphalt shingles do not seek the limelight. They do their job quietly, protecting more homes across the United States than any other type of roof material. Asphalt shingles (alternatively called composition shingles) are a manufactured product consisting of a fiberglass base mat coated in composition asphalt material to provide waterproofing and additional strength. Historically, the base layer was often made of organic material, but over time fiberglass has become the preferred choice for the base.

 

The Advantages of a Metal Roof

If you are interested in making your house more energy efficient, adding a beautiful and striking major design element, and never having to replace your roof again? Consider a metal roof. While the cost of a metal roof is significantly higher than a shingled roof, it will likely last a lifetime and it is practically maintenance-free. The practical advantages of a metal roof are that it makes your home safer in harsh weather and can significantly cut down on your energy bills. Aesthetically, a metal roof is versatile in design to complement many architectural styles, from a century old farmhouse to a contemporary home.

 

Concrete tile roofs are the master of disguise

From an architectural standpoint, concrete tile can play many parts. Molded styles are made to mimic natural clay, slate and shake roofs. Concrete roof tiles are as well, which helps make this material one of the most universally popular roof selections around the world. Concrete roof tiles consist of cement, sand, water and pigment. They are mass-produced at regional facilities, where materials are mixed and extruded before being coated, cured and prepared for shipment. Concrete roof tiles are widely used. They have a long life span and are available in various colors and molded shapes — and cost less than clay, shake or slate.

 

The Natural Beauty of Wooden Roof Shingles and Shakes

Natural Wood is not the popular roof material choice it once was, thanks to the proliferation of asphalt, composition, and concrete roof tiles. But for some there is simply no substitute. Wood can be faked but never perfectly replicated. Like the inhabitants it keeps dry, wood roofs age with the passage of time, turning a silvery gray under the sun. If you live in North America, this is likely the roof material of your childhood home (or at least your parents’), and is the ideal choice for many traditional home styles. 

Since a roof must withstand the worst of nature’s onslaughts, only the heartiest of species will suffice. Western red cedar is the most commonly utilized wood for shingles and shakes in North America. California redwood and cypress are also readily available, while pine shingles are offered in some regions. These wood types all have a superior resistance to decay plus other characteristics related to ease of installation and appearance, making them superior wood material options for roofs. 

 

Alternative Roof Materials to Buck the Mainstream

A Green / "Living" Roof

A natural green living roof can become a true landscape, and though arguably more expensive and requiring more maintenance than other alternatives, these rooftop habitats offer fantastic advantages. The lush, natural curb appeal, superb insulation and stormwater management benefits are difficult to match. This is also a roof material type that actually reduces greenhouse gasses. It’s a living habitat on your roof, attracting birds, bees, butterflies and more. 

 

Thatch roofs

This old-world option has drawbacks, such as flammability and lack of mold resistance, but these common criticisms are possibly overstated. Thatch installers say this ancient roof material, when installed correctly, can last 50 years or more, and is more fire-resistant than folks give it credit for. The natural look is undeniably authentic, and the material is renewable and cheap. Thatch roofs are not common in the U.S. for residences, but are more frequently used on ancillary structures, especially in tropical climates.

 

“Cool” roofs

The truth is, many of the materials covered in this series on roof options can be used to create a “cool” roof, one that reflects or otherwise mitigates heat. Metal roofs, membrane systems, white tile roofs (like the one shown here) and even living roofs can all be described as cool roofs. There are also added coatings available to improve the reflective characteristics of most roof materials. Cool roofs offer superior reflective qualities due to material characteristics or color, reflecting heat from the home structure and thus decreasing heat gain in the home. This lessens the extent of air conditioning required and is undeniably a benefit in hot climates.

 

Copper

A copper roof is a statement, and it’s one you’ll pay a premium for. Metal roofs themselves are relatively expensive, and copper is the premium roof metal. But there is something grand about copper on a roof, and it’s bright sheen, seen on the rooftop above, will turn a blue-green hue in time. While a copper roof provides excellent longevity, durability and reflective qualities, it is an extremely expensive option that does not have much demonstrative benefit (except appearance) compared to standard metal roofs.

Posted on August 24, 2015 at 10:31 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate, Home Improvement | Tagged , , , , , , , , , , ,

Making Color Work for You

We all want our homes to provide comfort and ease. And something instinctual tells us that color — whether a can of paint, a bright new patterned rug, maybe that sun-drenched painting you saw at the last art opening you attended — can change our world for the better.

Picking the right colors for our homes is not magic. The process simply requires that we look at the physical qualities of our home’s architecture and apply color that will put the focus where we want it. Here’s how.

Create a positive entrance. Storage is key to organizing typically cluttered areas, like a front entrance or mudroom, but color is equally important. Use a light color for walls and trim for an entrance that is cramped. Small, awkward spaces expand when painted a cool white or blue, dropping walls back. 

Pick wall colors that optimize sunlight. Natural light is what we all crave in varying amounts. Decide how the light coming from windows and doors aids your use of each room, and at what point during the day. A sunny kitchen first thing in the morning is perfect for a busy family that wants to get up and meet the day. Want to amplify light? Use white and shiny surfaces that reflect. Want to cut back on glare? Window treatments are an easy fix, but consider that you may want to keep the view and subdue the impact of the reflective planes. Gray is a color solution for a room with a glare.

Use color to play up or play down features. Sometimes the house that you call home is as uncoordinated as a growing teenager. Additions built when space was in demand can confuse the overall design. Proportions in one part of the house may be different than those in another, which can make certain features stand out when you wish they’d recede. Doorways that are too large make others look small. 

The visual presence of architectural elements can be controlled by the value and intensity of their color. Want something to stand out and make an impression? Paint it the most saturated or contrasting color in the room. 

If you want something to go away, paint it the same color as its surroundings. Is something too large and imposing for your space? Choose a color that is dark and gray. Charcoal will shrink and set what was once a foreground element into the shadows.

Let color create a visual path. Repetition is an important element in good design and helpful for finding our way through a space. Establish a feature or material in your home that you want to have noticed, then use its color repeatedly throughout the floor plan.

Posted on July 13, 2015 at 9:00 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate | Tagged , , , , , ,

Rock and Roll Sock Hop!

With Spring in the air and the promise of warmer days, it's time to start going out and enjoying music and dancing those winter duldrums away!

Saturday, March 21st is the Sock Hop at Manor House, located in the vibrant Pleasant Beach Village.  This event is for 21 and over with a Cash Bar. Live music will be performed by Soul Siren – The premier party band of the Pacific Northwest. So bust out those poodle skirts and saddle shoes and call 206-866-6499 for your tickets today – only $20 each.  

Posted on March 17, 2015 at 10:53 pm
Jackie Syvertsen | Category: Fun Things to do on Bainbridge Island | Tagged , , , , , , , , , , ,

Make your home offer irresistible

When you're competing with a lot of other buyers for a hot piece of property, your bid needs to stand out.

You have found a home you can afford, in a great neighborhood with good schools. It even has a fenced-in yard for your dog. What could go wrong?

Any number of things, ranging from a competing buyer's all-cash offer to an insufficient earnest money deposit from you. In markets with houses in short supply, sellers have the advantage over buyers, and bidding wars often erupt between buyers vying for the nicest properties. The purchase offer should persuade sellers that your buyers are a serious contender who will give them most of what they want, even as it protects the buyer’s interests.

1. Pay cash. Investors have been snapping up homes to flip or rent, and they usually come to the table with cash. Sellers love all-cash offers because they're less likely to fall through before the sale closes. In January, all-cash transactions accounted for 28% of existing home sales, according to the National Association of Realtors. Cities currently attracting strong investor interest include Atlanta, Detroit, Las Vegas and Phoenix, reports CoreLogic. If you need a mortgage, a low appraisal could cause your bank to back out of the deal, forcing the sellers to put the house back on the market.

2. Get preapproved. If you can't pay cash, you'll need to get a mortgage. Three or four months before you shop for a home, check your credit reports, says Michael Corbett, a consultant to real estate Web site Trulia and author of "Before You Buy!" That will give you time to dispute any errors and take short-term steps, such as paying off debts, that will improve your credit score. You can get your reports once a year free from the three major credit bureaus at www.annualcreditreport.com. Then get a bank's preapproval. It won't guarantee that you'll get a loan, but it will show sellers that a lender has verified your income and credit score and determined that you can afford payments on a mortgage for a certain amount.

3. Make your best offer on price. You may only have one shot to get it right, so make your best offer — what you're willing and able to pay. Base your offer on recent sale prices of com­parable properties in the neighborhood so that it will pass muster when the property is appraised. If you hold back, thinking you'll sweeten the offer on the second try, you may lose the property to another buyer.

4. Up the ante. You can add an escalator clause, with which you agree to ratchet up your offer if there's a higher bid from another buyer. Keep in mind that if you agree to pay more than the market value determined by an appraisal, you're on the hook for the difference from your own funds.

5. Beef up your earnest money. This deposit signals how serious a buyer you are. Try doubling the amount that the seller requests or that is customary in the area. If you must renege on the offer for any reason allowed by the contract or state law, you'll get your money back.

6. Pay for extras yourself. These might include some of the closing costs, homeowners association dues that must be prepaid, a one-time contribution to a community-enhancement fund, or a home warranty.

7. Make contingencies palatable. Most sellers prefer offers with no contingencies, but you probably can't afford to forgo the protection that contingencies provide if you want to cancel the contract. Offset a financing contingency with preapproval and a strong earnest money deposit. If you have enough cash, temper an appraisal contingency by assuring sellers that if the appraisal comes in lower than the purchase price, you'll pay the difference or split it with them (up to a certain amount). Include a home-inspection contingency, but tell sellers that you will cover the cost of any repairs. If the price tag on those repairs gets out of hand, you can back out of the deal.

8. Write a love letter to the sellers. Re/Max agent Gayle Henderson, of Scottsdale, Ariz., says this will help you connect with the sellers, especially if you haven't met them. She suggests such points as: "We're relocating from…" "We see ourselves living in your neighborhood or chose your schools because …" "We especially love …" and "We appreciate your accommodating our visits."

9. Give the gift of time. Express your willingness to work with the sellers' timetable to go to closing. If the sellers want to remain in the home for a while after closing, offer them a "lease back" or "rent back," which means that you will be their temporary landlord. This is a legal arrangement, and you'll need to work out the details with your agents and be sure that the sellers keep their homeowners insurance during their stay. If you are bidding on a short sale, make clear to the sellers that you are patient and can wait for the bank's decision.

 

Download a PDF of this blog post here: JACKIE98110_Make_your_home_offer_irresistible

Posted on March 5, 2015 at 7:11 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate | Tagged , , , , , , , , , , ,

Bainbridge Island Real Estate Sales in Review

RESIDENTIAL HOME SALES IN REVIEW

YEAR                  Avg. Sale Price            Total # of Sales           Avg. Days on Market

2003                    $481,758                           454                                      101

2004                    $551,462                           468                                      92

2005                    $670,004                           442                                      91

2006                    $752,154                           349                                      87

2007                    $820,607                           317                                      97

2008                    $749,970                           187                                      108

2009                    $662,668                           212                                      139

2010                    $639,169                           255                                      102

2011                    $581,855                           257                                      113

2012                    $636,705                           384                                      101

2013                    $599,116                           414                                      75

2014                    $706,275                           401                                      65

CONDOMINIUM SALES IN REVIEW

YEAR                  Avg. Sale Price            Total # of Sales           Avg. Days on Market

2003                    $304,874                           73                                        165

2004                    $302,123                           157                                      185

2005                    $381,143                           74                                        55

2006                    $359,040                           150                                      89

2007                    $459,756                           129                                      218

2008                    $458,383                           42                                        107

2009                    $366,369                           53                                        176

2010                    $326,174                           53                                        214

2011                    $289,338                           67                                        212

2012                    $296,702                           80                                        147

2013                    $328,139                           93                                        117

2014                    $384,416                           100                                      60

LAND SALES IN REVIEW

YEAR                 Avg. Sale Price            Total # of Sales           Avg. Days on Market

2003                    $211,651                           106                                      233

2004                    $187,045                           104                                      254

2005                    $292,644                           87                                        216

2006                    $460,802                           53                                        183

2007                    $378,295                           30                                        164

2008                    $421,728                           15                                        124

2009                    $433,500                           11                                        291

2010                    $172,625                           24                                        175

2011                    $233,405                           20                                        182

2012                    $216,672                           32                                        159

2013                    $197,453                           52                                        315

2014                    $249,267                           43                                        209         

 

So you’ve begun thinking about selling your house and you figure: Let’s wait until spring or early summer before listing. The yard will look its best and potential buyers will be out in force.  Recent research studies show home listing prices, sales price and time-on-market data from January 2010 through October 2014, concluded that if you want to sell for more than your asking price, listing in December through March gives you a better chance on average than if you list June through November.  If your goal is to sell relatively quickly, February is historically the best month to list, with an average of 66 percent of homes listed then selling within 90 days, according to national averages, including cold weather cities like Boston and Chicago.

Researchers are quick to note that the advantages of listing in winter compared with other seasons are not huge. But the fact that winter produces at least competitive or better results by some measures should encourage potential sellers to get into the game sooner rather than later. Bottom line: Real estate does not hibernate. Other factors to consider:   Only 63 Homes, 8 Condominiums and 53 land parcels currently For Sale on Bainbridge Island. Less Inventory = Less Competition for Sellers who list prior to spring. This is surprisingly an advantageous time to list, shop and buy Real Estate. Buyers shopping at this time of year are Serious Buyers. More Corporate Transfers at this time of year.  Buyers have more time to surf the web for homes.

What are your real estate goals for 2015?

Call me for a Current Market Analysis and I will provide you with an honest, fact-based report of the financial value of your home. 

Posted on January 6, 2015 at 11:10 pm
Jackie Syvertsen | Category: Bainbridge Island Real Estate Statistics | Tagged , , , , , , , ,