A few weeks ago I received my 2009 King County Tax Assessment and was shocked by what I saw.  Can you imagine your assessment value increasing 10% in this market? Me either, but that is what the numbers said according to King County.  Granted my home was completely remodeled, including an addition, but that was 3 years ago and the housing market here is just not that good right now, especially if the assessed value is what they think I could sell my house for.   Being a real estate agent there is no way that I would list my home for the assessed value and not get laughed out of my office! So what can I do about it, I can fight it!

I visited www.metrokc.gov/appeals and printed out the petition paperwork that the county requires.  This paperwork must be completed by July 31st or within 60 days of receipt of your assessment if your home is new construction or a remodel.  Along with your paperwork, you must prove to the petition board that your home is not worth the current value listed as of January 1st of the assessment year (i.e. 2008) or as of July 31st of the assessment year for new construction or remodeled homes.  Although I am a real estate agent and have access to the Multiple Listing Service, this is still a daunting task to complete.  Knowing this I asked myself how I would do this if I wasn’t in real estate? The answer - I would not know where to start and would probably just give up.  You, however have us to help! There are many real estate agents who are willing to assist you with this process (keep in mind that it is time consuming and some agents may charge for this help.)  Due to the fact that King County is the only county within the greater Seattle area where property taxes have increased for 2009, the assessor’s office should be expecting an influx of petitions this year!

While I am not holding my breath that my assessed value will be corrected, I am feeling better that I am at least trying to do something about it! I will keep you posted on the progress as it occurs.  Good luck in your fight!

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Looking for a home can be a long process, but it doesn’t have to be if you know how much you can spend, what you are looking for, and where you are wanting to find it! If you follow these 3 easy steps you can save yourself a lot of time and energy when searching for the house of your dreams!

1. Know how much you can spend

Financing should be your first step in the real estate process. Knowing how much you can spend can save you the heartbreak of finding a great home only to find out that you can’t afford it!  This market can be a great one for buyers provided that you have your financing (loan) all ready to go.  Given the current state of the economy, you want to take the time to do as much research on your lender as you do on your real estate agent and your home.  You need to know that you can trust your lender and the suggestions that they make regarding your loan.  It is also important to know how much money you are going to have to pay to get the loan; i.e. closing costs.  This can have a direct impact on how much money you will have available to use as earnest money.  It can also help you in the negotiating process as many buyers are asking the sellers to pay for some, if not all, of these costs.   So get your financing in order - then go get that home!

2. Wants vs. Needs - what kind of house are you looking for?

As a realtor there is nothing more frustrating than asking a client what they are looking for in a home and hearing “I’m not really sure.”  This is the place you are going to live! Give it a lot of thought! Do you need three bedrooms in order to accomodate your family? Are you wanting your own sink so that your husband can dirty his own? Is a yard important for your pet? Is a garage important because you are sick of getting wet as you walk to your car? These are just a few things to consider when looking for a home.  In addition to knowing what you must have, you should also think about the areas where you are willing to make compromises.  Can you forgo that great yard if there is a park within walking distance? Is a smaller kitchen okay if you get an awesome outdoor patio?

Here are a few things that we recommend you give some serious thought to before looking for your home. 

• number of bedrooms
• number of bathrooms
• garage &/or room for how many cars
• kitchen appliances/counterspace
• yard required
• new construction or fixer

3. Where do you want to live?

Now that you have an idea of what you are looking for, the next question is where to find it!  Having an idea of where you want to live can save you and your realtor a ton of time in the search process. This doesn’t mean that you can’t say “I would like to live in Seattle”, but if your answer is “I would like to live within 30 minutes of downtown Seattle” that is pretty vague.   Sometimes giving your agent some additional information about what you are looking for in your future neighborhood can be very helpful.  If you want lots of parks and things within walking distance that can eliminate a lot of areas.  If you are seeking privacy and serenity, that can knock some other areas out as well.  Take a sunday drive and just look at what is out there.  Let your agent know what you like and what you don’t and then see what they say. 

If you already have a certain neighborhood in mind - share that with your agent!  Your time is valuable so don’t waste it looking at homes that you know you would not buy because of location.  You may find that some neighborhoods are not in your price range, or are if you are willing to compromise on style and size.  Other neighborhoods might be in your price range but don’t offer the amenities that you want.  There are lots of things to consider regarding the location of your home as well.  Here are just a few. . .

• proximity to job
• access to public transporation
• traffic
• school district
• walking/driving distance to amenities
• parking availability
• resale
• lot size

There is a home out there for everyone, but that doesn’t mean that you have to see everyone’s house to find your own!  Take some time to think about what you are looking for, where you would like to find it, and how much you are willing to pay to get it!  Doing this can save you a lot of time and get you into your dream home a lot faster!

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So you have made the decision to sell your home - now what? There are two major things you need to think about before the “for sale” sign goes up in the front yard. 

Full Service Agent vs. Discounted Brokerage

When you consider the current market in your area you may find that there are many benefits to using a full service agent.  First and fore most, a full service agent should have the experience to be able to help you price your home correctly and guide you through preparing you and your home for the sale process.  This process is much more complex then many people realize, especially if you have never sold a home before.  The first step is to take a tour of your home with the eyes of a buyer.   Do you need to paint? Should you remove or add furniture? Does the yard need a little or a lot of work? Are there any “quick fixes” that could potentially add to the value of your home or make it more attractive to buyers?  These are all things that a full service agent will walk you through to ensure that your home is truly ready to be sold.

Discount brokerage firms typically will  not provide these services, or will charge a fee to do so if offered.  Why would someone choose a discount brokerage agent?  Well - because they want to save money.  What they don’t consider is what their own time is worth.  The reason that selling homes is a job is because it requires work.  Creating marketing materials, knowing the competition (other homes on the market), accurate pricing, and everything listed above are all things that take time and expertise and should take place before the home even goes on the market.  With a discounted brokerage this becomes your job!

Once you have put the home on the market you need to get buyers in to see the home.  A full service agent will conduct open houses, brokers opens, and customize a marketing plan to accomplish this task.  They will also be available to do private showings, answer questions about the home, and negotiate any offers.  With a discount broker you are responsible for these things.  Holding open houses, scheduling showing appointments, and allowing access to the home are also things that will fall onto the shoulders of the home owner.  All this while dealing with the stress of selling your home!  Have you ever been in your home while a stranger has walked through it?  You will now. 

In addition to making sure that your home is ready to hit the market, your full service agent will ensure that people know it is for sale and can be bought!   Your home will be listed on the Northwest Multiple Service which can be accessed by licensed real estate agents.  While the same is true with a discount broker, you are listed as the contact person and will have to field inquiries regarding your home.   It is also important to note that many agents are reluctant to show homes listed by discount brokers for the following reasons: a) it is potentially more work for the agent, b) they are often asked to do things that should be done by the sellers agent, c) it can be more difficult to gain access to the house, d) it can be a lower commission (less money) for the agent.  If this is the perception of the majority of licensed real estate agents, then think what that means for the exposure of your home.  This can have a negative impact on your home and can increase the length of time it takes to sell. 

The big question is - do you really know what it takes to sell a home and are you willing to put the time in to do so?  Keep in mind that statistics show that using a full service agent can result in a higher price in less time, thus making it cost effective to hire a full service agent.

Is Your Home Buyer Ready?

Now that you have decided on a broker, you need to address the appearance of  your home.  As agents we are continually shocked at the state of some homes on the market.   For example, one home’s front door literally required shoving because so much laundry was piled up behind it.  Laundry in the entry way - really? We have seen dirty dishes in the sink, unmade beds, dirty diapers on the patio, and Allison was once peed on by a dog! Are these things deal breakers? No, but is that how you would want your home remembered by potential buyers?

We, as your agents, have a checklist of housekeeping items to be completed before putting your home on the market.  This ensures that your home always has its’ best face forward.  As part of the preparations, we will do a walk through with you so that you can see what a buyer would see.  Depending on how long you have been in the home this can be a trying task.  While you love to see your children’s smiling faces all around your home, potential buyers would like to be able to envision their own decor on the walls.  That antique furniture that you inherited from Aunt Susan may not be the best thing in your completed updated modern kitchen.  Making these changes may mean adjustments to your everyday lifestyle.

Our other role as agents is to educate you on how and when people should be able to view your home, the condition it should be in when people do view it, and what to do when people ask you questions directly regarding your home.  Some sellers have a tendency to disclose too much information that can weaken their negotiating position later on.   An easy solution to this problem - don’t be home when people come through. This is yet another adjustment that you should be willing to make when you put your home on the market. One of our clients had an agent call to make a viewing appointment right as they were putting dinner on the table.   Their adjustment - load the food on paper plates and head to the park for a nice outdoor meal! 

Selling your home is more than just putting up a sign in the yard and holding an open house.  We are here to guide you through everything that needs to be done to ensure top dollar for your home.  Remember we don’t get paid until your home sells, so we have a vested interest in making sure that happens.  If you would like to know how to get your home ready to sell, just give us a call.  We would be happy to help!

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Who wouldn’t want two great employees for the price of one?! When you work with Lisa and Allison, you get just that. We are team in real estate. We work together to make sure that all your needs and expectations are not only met, but exceeded! Both of us grew up in the Seattle area, Lisa on Queen Anne hill, and Allison in Mill Creek.  We stayed in Washington for college, Lisa at Whitman in Walla Walla, WA; Allison at Western Washington University in Bellingham, WA.  Having met at a financial institution based in Seattle, we have both spent time traveling throughout Seattle and the greater Seattle area.  We feel our knowledge of the area gives us the ability to honestly answer your questions about neighborhoods, commutes, and the amenities that Greater Seattle has to offer.  We are committed to providing you with excellent service.  Not only have we worked with those who started out as strangers to us, but our families have used us as well; and we are still talking and spending vacations and holidays with said family members.  Our family members have not only referred their friends to us, but they have chosen to use us again for their continuing real estate needs. While that may sound funny to mention - how many people would choose to work with their family? Especially when it is dealing with finances, credit, and your home! We treat all our clients like family and are looking forward to welcoming you to our clan!

If you have any questions about real estate in the Greater Seattle area, please give us a call. We would be happy to help you with any of your real estate needs.

Lisa Wilson cell: 206-999-6902   lisacwilson@windermere.com

Allison Engman  cell: 206-240-6968   aengman@windermere.com

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You’ve seen the news. You’ve read the paper.  You watched your neighbor’s house sit on the market.  Is now really the right time to sell? The answer to this depends on many factors.

 Why do you feel the need to sell? Some consumers are being forced into a sale simply because they are being relocated.  Some have been hit by the sub-prime mortgage market.  And still some just don’t find their home is meeting their current needs. Whatever your reason, your motivation makes a difference.  If you are in a situation where you require a quick sale then pricing your home correctly is the key.  This is means divorcing yourself from your emotional attachment to your home and looking at it through the eyes of a buyer.  This process can be painful and very difficult considering the last five years in the real estate market. That said - if you base your home price on emotion rather than the reality of the market, be prepared for a potentially slow sale. 

Price it right 

Accurate pricing requires lots of work. This is a where a full service real estate agent can make a huge difference in the sales process.  A realtor looks at your home through the eyes of a buyer, appraiser, and inspector.  They will notice things that you may have long forgotten about.  Such as, that missing face plate on a light switch, an out dated paint color, popcorn ceilings, and that old shed in the backyard.  A good realtor will provide you with a list of items that should be addressed before your house goes on the market. Sometimes this can mean investing some money into your home, keeping in mind that some small things can yield a big return. The bottom line is if your house is priced appropriately for its condition, neighborhood, and amenities, buyers will take notice!

 On the other hand, sometimes you just want your home to feel new to you or to better meet your current needs.  This can mean a new kitchen, that 5 piece master bath that you’ve always wanted, or a landscape makeover that gives your kids the yard they can use.  If this is the case, it is now a question of selling or remodeling. If selling your home won’t get you what you want, then it may be time to think about remodeling.  This requires an equal amount of work as determining a price to sell. Will you really get out of the remodel what you put into it?  In addition to the cost, you have to think about if you can stay in the house through the remodel process. If not, do you have a place to go and what is the cost of that temporary move.

Remodel It 

When you decide to move forward with a remodel, it is extremely important to do your due diligence. This includes contractor bids, contractor references, contractor timelines, permitting, materials, and knowing if you need an architect or if you can design it yourself.   The first step however is financing.  Do you have the money or do you need to borrow it? Knowing how much you can spend can answer a lot of questions and save you from getting in over your head. Don’t be afraid to be honest with a potential contractor!! Being upfront about your budget from the beginning will save you headaches down the road. (We also recommend giving your contractor a number that is at least $5,000 less than what you are willing to spend.)  Make sure that you know that your contractor is upfront with you as well. Do they have a line item for overruns? If so, how much is it and is that realistic for the size of your project?

Update? 

A third option is a combination of the two above; remodeling to sell. Many times an updated kitchen or bathroom can be the deciding factor for buyers when looking at comparable homes.  Consulting a full service realtor can help you determine what if any updates will benefit you in the selling of your home. This can mean a little work on your part. Do you know how your home measures up to your neighbors and to buyers in this market? Will granite countertops really make a difference or should you spend the money on new appliances instead? Should you tile the bathroom, or should just call Bath-fitter? These are the things that your full service realtor will guide your through. 

 So our advice to you is this - call us before you do anything! It’s free - in this economy, that is a good price!

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What motivates a person to buy or sell a home? Could knowing the answer change the way a real estate transaction take place? These questions came to mind while reading an article “How Consumers Really Think“ by Wendy Cole in Realtor magazine.

 http://www.realtor.org/rmosales_and_marketing/articles/2008/0809howconsumersthink  As an agent, I know that I’ve asked buying clients “what are you looking for in a home?” and respectively to sellers, “what are you looking to get out of your home?”  The real question is – why are you buying or selling?

             Knowing the motivation can really set the tone of a working relationship with our clients and could end a lot of frustration for all parties involved.  In addition to being aware of the number of toilets and bedrooms our clients are seeking, wouldn’t it be good to know that they like the attention from having the nicest house on the block, or that they love to fix up a home? Now no one is wasting time looking at those houses that meet these criteria, but do qualify if we are just looking at the numbers.

                Moreover, have we as agents truly explained to our buyers what it is like to buy a home.  Aside from the time it takes to find a home; aside from the importance of financing – have we discussed the emotions involved? Have our buyers thought about what being hundreds of thousands of dollars in debt really means? Do they know that nerves, and cold feet are normal? Have they imagined what the seller is thinking and how that could play a role in their negotiation?  While writing this I realize how Jerry Maguire like it sounds.  That said, it makes a lot of sense. If you know (or can imagine) what the other person is thinking, then you are that much more prepared for the negotiating process. If we are aware of what the whole process of buying and selling entails (as a buyer or seller) then we may be able to save a deal or two from falling apart due to cold feet, nerves, or regret.

                Real estate is more than just buying and selling homes.  It is also about educating our clients (and ourselves) and preparing everyone so that they can make their decisions easier and with confidence. It is about getting them to know what they want and then finding it for them.  It is about knowledge! GI Joe said it best – knowing is half the battle.

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