Tips for Sellers

DOT Announces Tolling on 520 Bridge

 
 

Tolling will begin on the 520 Floating Bridge at 5 a.m. on Dec. 29.  Get your “Good To Go” pass or you will pay extra!!!

It will be interesting to see what effect this has on traffic.

Hey!  Maybe you should think about selling your home and moving across the bridge so you don’t have to commute and pay the toll. We can help with that!  Give us a call – we work both sides of the bridge.

 

Foreclosure Fairness Act

 
The new WA State Foreclosure Fairness Act gives new rights to distressed homeowners. Legal Hotline Attorney Annie Fitzsimmons walks you through the new law with guests:

• Rob McKenna, WA State Attorney General
• Marc Cote, a Certified HUD Housing Counselor
• Rob Dickson, Lawyer and Short Sale Negotiator

 
Part 1

 
Part 2

 
Part 3

Speeding through an inspection

 
 
This video, taken during a home inspection, is an example of how NOT to do an inspection. Take your time,  follow along during the inspection and listen carefully to the verbal report given by the inspector. Do not be afraid to ask lots questions. Inspections are not only a negotiation tool, they are a road map to preparing your home for future sale.

Special thanks to Jim & Merlita Estrada with Property Inspector LLC.

We hope you enjoy the video!

 

Houseboats as Investments?

Can a Houseboat be an Investment?

We at Special Agents Realty have been selling houseboats, floating homes, and housebarges, in the Lake Union area for the last 5 years. Additionally, we sell lots of waterfront property and land based homes as well (actually more of those than houseboats). We have been through the boom and the bust and have seen homes, condos, houseboats, floating homes all ride the market roller coaster. The financial crisis has hit all levels pretty much equally.

So, how do houseboats fare as an investment in comparison to more traditional homes?  Well, it depends greatly on the style, condition, and character of the houseboat. Houseboats will lose value greatly if they are in need of servicing and maintenance. A well kept, updated, clean houseboat will return a better price than one in need of maintenance or paint. Sound familiar?  Pretty much the same holds true for traditional homes as well. So what is the difference?  Well, houseboats are a much more limited commodity and are definitely more seasonal. When summer rolls around and peoples thoughts turn to the water, the houseboat market definitely increases. The majority of the houseboats we sell are sold between May and September. This should be a clue to those wanting to sell (list in the spring), and those wanting to buy (buy in the fall/winter).

It is our belief that houseboats are going to become more and more scarce. This should, according to supply and demand, increase their value. However, in today’s market, nothing is assured and predicting the market has always been difficult.

All in all, houseboats remain one of the most affordable ways to enjoy waterfront living. As people discover the fantastic lifestyle, amazing community, and uniqueness of houseboat life, they will become more desirable and less available. This could lead to increased demand and higher prices, making houseboats a reasonable investment as well as a fantastic lifestyle.

If you would learn more about owning a houseboat and houseboat living, give us a call. We sell more houseboats than anyone else on Lake Union. Additionally, we have 3 websites that can help you learn the details about houseboats and the buying process. Please take a look at our 3 websites: www.SpecialAgentsRealty.com, www.LakeUnionLiving.com, and www.AffordableHouseboats.com, and give us a call at (206) 419-0065, email us, or stop by our office on Lake Union at 2401 N. Northlake Way, Seattle, WA 98103 (about half way between Gasworks Park and Ivars Salmon House.)

 

Insist on a Home Inspection

Insist on a Home Inspection

A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property’s defects.

A home inspection usually covers the following:

*Plumbing conditions – if there is leakage or clogging
*Roofing conditions – the extent of deterioration, if there is leakage
*Electrical conditions – if there are inadequate circuits or potential fire hazards
*Structural problems – if there are problems with the underlying foundation of your home

As a seller, the home inspection reports protect you because it establishes the actual condition of the property at the time of sale.

Considering Offers

Considering Offers

When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.

Some terms that may work in your favor:

*higher-than-market-interest in a second mortgage for your home
*the buyer will pay for most or all of the closing costs
*the buyer will take care of any repairs
*quick close – the buyer is pre-approved and ready to close in a time that best suits you
*all-cash deal

When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.

Finding the Right Agent

Finding the Right Agent

Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market and provide information on past sales, current listings, his or her marketing plan, and at least 4 solid references. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs.

Try to go with a local agent. They can better serve your needs; they are familiar with what the local market condition is, the local prices are, and what’s hot or not in your community.

Plan of Action

Plan of Action

1) Analyze why you are selling – If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.

2) Prepare your home for the buyer – Maximize the strengths of your property and fix up it’s weaknesses. You want the buyer to walk away from your home with a lasting good impression.

3) Find a good real estate agent that understands your needs – Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.

4) Be prepared for negotiation – Learn and understand your buyer’s situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.

5) Negotiate for the best price and the best terms – Learn how to counter offer to get more from every offer.

6) Make sure the contract is complete – Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home’s defects. Insist the buyers get a professional inspection. This will protect both you and the buyer.

Setting the Price

Setting the Price

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA. The CMA will reflect the following:
*houses in your price range and area sold within the last half-year
*asking and selling prices of houses
*current inventory of houses on the market
*features of each house on the market

From the CMA, you will find out the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.

Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.

Always be realistic. And understand and set your price to reflect the current market situation.

Know Why You are Selling

Know Why You are Selling

If you know exactly why you are selling, then it is easier for you to set the right plan of action to get what it is that you want.

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

It’s always good to know how low you will go, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.

Once you know what your limits and reasons are, discuss them with your agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so that they can be met.

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