Tips for Getting Your Offer Accepted in a Hot Market

 

After all the time you have spent searching for your perfect home you are now ready to make an offer. Congratulations! That is a HUGE step toward getting your dream home. However, in a lot of situations even a full offer may not be enough to being accepted. When there are more buyers than sellers competition is high and so are the prices. Here are some great tips you can use to make sure your offer comes out on top.

  1. Work Fast – This one is kind of a no brainer. While you should never jump into a purchase as large as a home be sure to do your research and know what you are looking for as well as what you’ll be able to afford. Do not wait a week after you see a house you like online to contact your realtor, somebody could have already seen the home and put in an offer. If you decide you like it, ask to see it and make an offer as soon as you feel comfortable doing so.
  2. Make your offer simple – Remove any seller concessions or contingencies you have regarding a sale of another property. This simplifies it for the seller and gives them less to have to figure out.
  3. Don’t ask for Personal Property – Despite how much you love the curtains or that grill on the patio it weakens your offer to ask for personal property. If the seller has two similar offers, one asking for items and the other not they are much more likely to remember how much everything will cost to replace and be hesitant to go with an offer asking for items.
  4. Offer Above Asking – If you really love the house and know there is a potential for other offers ask above what the price is. Your offer may very well have to beat out other offers. Instead of putting in an offer either lower or at asking, think of how much you will realistically be willing to spend and ask your realtor for advice regarding comparable houses in the area. That may be able to give you a much better number than guessing.
  5. Write a Letter – Think of the nostalgia you feel when selling your home. They are feeling the same thing. While it may not work in every situation a letter to the seller can often persuade them to go with your offer, even if it is not the highest. Let them know who you are, your plans for the house, or even a photo. If you see your 2 kids playing in their huge back yard then include that, it may remind them of all the times their kids did the same.
  6. Offer All Cash – While I understand this may not be a realistic option for some people cash often persuades sellers to go with an offer. They know the buyer will be able to follow through and is much less risky for sellers.
  7. Close Faster – In many situations the faster the close the better it is for the seller. This is especially true if they have already moved and are paying two mortgages, utility bills, etc. on two houses. If you can shorten the closing date then in this case it is much more appealing.
  8. Include a Pre-Approval Letter – Be proactive and get a letter from your bank stating what you are able to have. While you are able to tell the seller you qualify them, reading it is more substantial of a statement.
  9. Pay the Sellers Closing Costs – This is an expensive part of selling a home, so if you are able this is something to consider doing.
  10. Offer Again – Just because your original offer was not accepted does not mean there isn’t a chance you will get the property. Be able to come back with a number and have your realtor submit another offer as soon as possible.

 

While buying a home is never an easy process by using some of these tips you are guaranteed to be more successful. With enough persistence, luck and know how you will be in your dream home before you know it.

 

 


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


Is a Tiny Home Right For Me?

They look like the answer to all your problems don’t they? I know they do mine. If I could only get rid of all the clutter (okay, my husband’s clutter) and move into a tiny home all problems would be solved! With the ability to move anywhere and a simplistic design, where everything has a place I can completely understand the appeal of a tiny home. But are they right for everybody? Below are some things to consider before you start selling everything you own and scaling down to a tiny home.

Where Will You Put Your Home?

Sometimes finding a place to park your tiny home can be a problem. Tiny homes generally fall into two categories permanent and on wheels. If you have a permanent tiny home zoning code and other regulations (HOA for example) may have to be considered. If you choose to have a home on wheels, this requires hooks ups just like an RV would, thus RV parks are often your best bet, which of course requires a fee.

Wheels or No Wheels?

A traditional home (no matter how small) still has building codes it needs to stick to. A tiny home on wheels will have to conform to the standards of the Recreational Vehicle Industry Association if you wish to have your home in an RV park. No matter which you choose it is important to find the right builder who will work with you and make sure everything in your tiny home is up to the code and the right regulations are observed. Also, another thing to consider in the wheels vs. no wheels debate: Do you have something to move your home with? The smallest of homes often require a diesel truck to haul and the larger homes on wheels require an even bigger truck and trailer.

Don’t Forget About Your Family or Lifestyle

While it may sound appealing to be able to move anywhere or stay in one place only so long the tiny house lifestyle is not necessarily for everybody. A 250 SF home may be able to hold two people comfortably but adding in children, pets, guests, etc. can cause some problems. In some instances there just simply is not enough room for everybody to live in a tiny home comfortably. And think about it, do you REALLY want your teenager sleeping in the loft across from yours? If you could handle it, that’s great, but I know many people who would pass on that idea. You also cannot forget about pets, will a great dane work as well as a chihuahua? What added space will they require? Do they need space to run or will they be content with a limited floor plan to move around in?

Give it A Shot….But Before You Buy

Trying it out is obviously going to be the best way for you to know if a tiny home is going to fit your family or your lifestyle. Come up with a list of tiny home styles you like and see what is available to rent in your area. If you rent a home for a week and by day 3 you’re ready to go insane it may be a sign you need to rethink how tiny of a home you want to go.

Consider Beyond the House

Are you a person who spends more time outdoors than in? With a tiny home it is important to take advantage of any additional square feet you possibly can. This may be as simple as having a few folding chairs and table, a built in porch, or a retractable awning. The possibilities are endless with a tiny home but have a huge impact when looking at the overall footprint of your home.

Utilities

While tiny homes are in general less expensive all around than regular homes there are some additional costs to keep in mind. Should you choose to stay in a RV park you will have to pay rent on the space you are in which generally covers electricity, water, and sewage. Some RV parks also have WiFi and other amenities you can take advantage of for an additional fee. Should you have a permanent tiny home you will have to be connected to a water source, electricity, sewer, internet, and any other services you need.

Don’t Forget Your Goals

If you are moving into a tiny home entirely to save money you may want to investigate other alternatives before moving into a tiny home. Given some areas renting or homeowner ship may be cheaper it is always best to do your research thoroughly. However, if you are making an informed decision that aligns with what you want to do in the long term and what your goals are a tiny home can be a fantastic choice to help you on your way.

 

 


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


Reflecting on 2016

2016 is behind us now and we’re all looking forward to the New Year. I’ve always said “You can’t know where you’re going, until you know where you’ve been”, so let’s take a look back at the Real Estate market in Lewis County.

The Real Estate Market in Lewis County is looking up, with a total number of Single Family Residence (SFR) homes sold at 1086 this past year while 2015 only resulted in 1046 homes sold. This is an increase of nearly 4.5% in the number of sales and our average sales prices have steadily increased since 2014 as well. We closed 2016 with an average sales price of $170,000, just over an 11% increase.

July of 2016 was our hottest month with 179 homes “SOLD” per the NWMLS, while May through September remained strong. What really surprised me was the lack of decline in the number of sales even through the end of the year, look at the rise in the number of sales in November. The market stayed “Hot” through the end of the year.

Who knows what our future holds, but I’m the forever optimist. There has never been a better time to purchase a home than now. Interest rates remain relatively low, there are numerous loan programs available to qualified buyers and rental rates are sky rocketing so why wait.

We are so lucky to live here in Lewis County where our growth is slow & steady (remember the Turtle & the Hare story?), it always wins the race.

Now that we’ve peeked backwards, lets focus on what’s ahead.

Optimistically yours,
Janet

If you’re looking to buy or sell, I’m here to help.


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


Fall is the new “Peak Season” to sell your home

leaves-in-fall-janet-simonsOctober is quickly becoming the most popular month for weddings, are these Autumn-loving newlyweds on to something?

Spring months have notoriously been the best time for buying real estate (as well as have a weddings), Fall is now becoming the “New” season to buy a home.

Let’s take a look at a few reasons this change is taking place:

There is less competition

Fall is a time many people consider to be the “Off-Season” in real estate so competition drops off. It provides buyers with new inventory and repositioned old inventory that didn’t sell during the summer months.

Qualified home buyers are in a great positon to negotiate aggressively. Many sellers are highly motivated to sell prior to the holidays. When possible, buyers can let sellers know they close before Thanksgiving or before the winter break is over.

Sellers are worn-down

Sellers who had their homes on the market during the prime selling season of Spring and Summer may have listed their homes above market price, resulting in an expired listing. After months of no action, these sellers are often ready to make a deal. Sellers who placed unrealistic prices on their homes earlier in the year may now be more willing to reduce the price come Fall. There are fewer buyers, fewer showings causing sellers to become frustrated and eager to sell. They are tired of maintaining a home in “Show Condition” and don’t want to wait another six months before selling their home.

Take advantage of those Tax breaks

Property tax and Mortgage interest are both deductions you can claim for the entire years’ worth of income, even if you close on your purchase in December. You can’t escape paying income tax, this can make a big difference in the amount you owe the government. This may amount to a significant savings, especially for “First time Homeowners”.

Fall is a safer

Did you know that July and August are the peak months for burglars? Waiting until Fall gives you the advantage to learn about your new home and neighborhood. You can get settled in your home and take precautions like installing a home security system.

Be the “Center of Attention”

Real estate agents are typically swamped during the Spring and Summer season. You might not get the attention from your agent that you deserve. Many other service providers that are related to the real estate industry such as Lenders and title companies also feel the heat during the summer.  Falls allows agents and related professionals the time to dedicate to their clients making YOU their priority.

The probability of experiencing delays and service issues from moving companies goes way down after the summer peak season too.

Save some $ with end of year sales

According to consumer reports, September offers sales on carpet & paint while October may be the best time to purchase lawn equipment. November brings sales on appliances and cookware. Fall home purchases coordinates well with sale items you may need for your new home. Often appliances are not included in the sale of a home or there are improvements you’ll want to make.

Not only does Fall bring a change in the season, it may bring you a change of homes. Please let me know how I can help you this Fall.  


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


VA Financing Basics – Part 2 of my series on What Buyer & Sellers need to know about Financing

VA FinancingThis week I’m going to focus on what VA appraisers look for and the key elements to be considered. Every VA loan requires properties to undergo a VA appraisal & meet Minimum Property Requirements (MPRs).

This is to ensure the structural integrity, safety & soundness of properties being purchased.

If you’re considering purchasing a home using VA financing or as a Seller you want your property to be considered as a viable option to VA buyers, you’ll want to consider these major MPRs.

  1. VA Financed properties must be Residential: If any portion of the home is designed for non-residential purposes such as a home based business (hair salon, dog grooming, auto shop), that part cannot exceed 25% of the total floor area.
  2. Operating systems must be safe and have a reasonable useful life expectancy. Be sure there are GCIF outlets in the kitchen and bath, all electrical and plumbing systems are good operating condition.
  3. All properties must have adequate living areas that provide suitable living, sleeping, cooking and sanitary areas.
  4. Heating systems must be adequate and safe. In our area many homes rely on woodburning stoves as their primary source of heat, for VA they must also have a conventional heating system that can maintain a temperature of 50 degrees Farenheit. Also unvented methods of heating, such as a space heater must be inspected by a heating professional, have an oxygen sensor and meet all building codes.
  5. A domestic water supply that provides safe drinking water & safe way of sewage disposal. You must have domestic HOT water as well.
  6. Roof conditions cannot be defective or have more than 3 layers of shingles, if this is discovered all old shingles must be removed prior to replacement. Roofing must be adequate and provide reasonable useful life expectancy.
  7. Adequate access to the crawlspace along with adequate venting is required. Remove all debri , be sure a properly installed vapor barrier is in place. Standing water or excessive dampness must be corrected. Leaky basements and faulty foundations are expensive to repair often leading to a deal breaker.
  8. Independent Utility services for each living unit (multifamily properties), unless there are separate shutoffs for each unit.
  9. Safe Access from the street either a permanent recorded easement or private driveway.
  10. Health & Safety are top concerns when dealing with VA financing. All properties must be free of any hazard that adversely affect the property or it’s occupants.
  11. Safety, Structural or Sanitation. Appraisers watch for  defective construction, decay/wood rot,  defective craftsmanship and repairs, leaks, and  excessive dampness.
  12. Water must have proper drainage and be graded to ensure water flows away from the home. All down spouts must have drain pans, poor drainage can lead to foundation problems.
  13. Properties must be free of fungal growths (Mold), dry rot and wood destroying insects. Pest inspections are commonly required in our area, if termites are discovered property must be treated and re-evaluated to gain VA approval.
  14. Properties built prior to 1978 may contain lead based paint which has been determined to be a health hazard. Any surfaces with chipped or peeling paint must be scraped and repainted, covered with drywall, or totally removed.
  15. Smoke detectors and Carbon Monoxide detectors must be properly installed per manufacturers recommendations.

The best way to purchase or sell a property that qualifies for VA financing is to be well versed in VA’s MPRs.


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


 Vacation Home Investing on the rise

You need to visit your vacation home often to make the purchase worth it, so ensure you truly love the location and won’t grow tired of it.

As you search for lodging near your favorite beach on a holiday weekend or drag your ski gear to your favorite resort for the umpteenth time , you may consider how much easier life would be if you had your own vacation home.

In 2014 vacation home sales made up 21 percent of residential transactions, and sales are still at high levels in 2016.

Vacation HomeWhile owning a vacation home can make sense both financially and logistically, it’s not something to be entered into lightly.

Money plays a huge role in this decision for most people. Many Baby boomers have sold their family homes for cash and have chosen to invest some of that cash in a warmer climate during the winter.  In these cases, the boomers don’t rent but move from one home to another, spending winters in their second homes in Florida or Arizona and summers up North near family.

Others defray some of the expenses of a vacation home by renting it out when they’re not using it. This may be the only way they can afford to own two homes.

It’s important to choose a home that can be rented at the frequency required to cover expenses if you want the rental income. You’ll need to make sure to choose a home located in a community that allows vacation rentals and make sure you have the means to set it up so you’re making the most of the rental potential. Furnishing the unit, creating & implementing plan for advertising and handling tenants are tasks you’ll need to consider before purchasing.

Consider these things when looking at vacation homes:

  • Real estate is not a liquid investment; you cannot count on selling your home for a profit or even breaking even. During the recession many homes lost half or more of their value in Florida, Arizona and Nevada, among other areas.  Can you afford a purchase like this?
  • If you plan to rent out your home, be sure you to research all the rules and regulations pertaining to the home and area, not all homes can be used as rental property.  Often Homeowner Associations or Condos set rules governing rentals, as well as some cities. Some resorts may require you to use their programs and abide by their plans, and may collect a portion of your rental income.
  • Calculating all the costs beyond the actual purchase price requires you to consider expenses like, HOA or Condo fees, Property taxes, Utilities, Insurance as well as completely furnishing the home down to the forks and spoons. You may also want to provide luxury items such as skis, snowboards, kayaks, water toys or other gear if you’re in a resort area.
  •  You will need to be realistic in your expectations regarding rental income. Rental properties, especially vacation homes come with expenses. Paying for cleaning services between tenants, advertising or maybe a property manager all add up.
  • How many times will you occupy this home? It’s important to know the number of times you’ll personally use your home to make sure it’s worth your investment. Choose  a place you love and want to return to often, you don’t want your home to sit empty for long periods.
  • Have a backup plan for unforeseen events like water leaks or weather events such as hurricanes. Get to know a Handyman that is willing to make repairs quickly or put up shutters prior to a storm to avoid damages that may occur.
  • Un-occupied homes attract thieves, be sure to take the necessary steps to keep your home from looking empty. Protect your home when it’s vacant. Placing lights on timers or having neighbors occasionally park in your driveway will make sure someone picks up mail and fliers so it’s not so obvious that no one is home.

Have a business plan.

Will you do it yourself or hire a management company? If you’re handling your own advertising, there are services such as VRBO or Airbnb that you may want to use, great photos are a must. Tenants will need a safe reliable way to access your home, keyless entry systems with codes work well. Services like PayPal or Stripe will make receiving payments easy for you as well as your tenants. Another “must have” is a reliable cleaning service, sometimes you’ll only have hours between tenants.

Make sure owning a vacation home is a good move. If your overall investment strategy includes vacation rentals, estimate the returns and weigh them against other uses of your money.  Careful calculations of your return on investment is important.

Don’t forget about taxes! Rental income is taxable both on state and federal returns.  Most vacation homeowners don’t earn enough income after expenses to face much of a tax liability. Short term rentals (usually less than 6 months) may be considered as an innkeeper your state & county will expect you to collect the same lodging taxes as hotels.

Enjoy your search for your vacation home!!!


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


Real Estate and School Districts

Is looking at school districts when buying a new home really that important?  How bad can a school really be, right?

School DistrictsMaybe you are kid-less now and don’t plan on having any for a long time or maybe never. Some folks plan on moving by the time their kids are school aged. Here a few things you should consider; education is the foundation to a solid future for all children.

Remember, it’s kids that will one day rule the world and eventually have families of their own. Even if you don’t ‘plan’ on having kids right now, the unexpected can always occur. Don’t dismiss the importance of a good school district.

Here are a few reasons why it’s important to look at schools prior to purchasing a house.

Resale

I know it’s hard to think about selling your new home even before you purchase it, but “RESALE” value is important to consider. Studies show that homes in school districts with high scores, tend to sell for more than those in neighborhoods with less impressive school districts. For example; if your child is in a good district, it becomes known as a desirable area and people are going to look for homes in this area. So even if you don’t have kids, if you own in a larger home in a family-friendly neighborhood, you might want to check out the school districts prior to placing it “For Sale”, it may help in getting top dollar when selling your home.

Many buyers, according to realtor.com are willing to make sacrifices in order to own homes in neighborhoods with great schools. Studies show that many families will sacrifice square footage, garages and even number of bedrooms just to secure a home in a good school district.

Higher Property Taxes

You might consider the affordability of living in an area with a good school district. Good schools tend to require more funding which results from higher tax rates. This means you may pay more in property taxes in order to live in an area with great schools. This might be hard to accept if you don’t currently have children.

Your Kids

If you have kids, it’s vital to check out the schools in the area. Better schools can offer your kids a lot more, typically your children will have  smaller teacher/student ratios, smaller classes, more one-on-one instruction, higher test scores, better extra-curricular activities & better sports programs. In summary, your kids will achieve an overall better education. There is nothing more important than the education of a child. I recommend always considering the overall well-being of your children and their educational needs before purchasing a new home.

Better Neighborhoods

And finally, I’ve noticed that typically the better the schools, the better the neighborhoods. This usually results in less crime, fewer less desirable neighborhoods and fewer families that raise your suspicions as being less than respectful.

The safety and security of your children is not something you should take lightly, which is just one more reason to consider the district.

Finally, rest assured that your kids will live in a neighborhood with other kids if you live near a good school, you’ll find that these are the neighborhoods are desirable for people with kids and that want to raise their families.

If you’re buying or selling in Lewis County Washington, here’s a helpful link that will show your school districts rating.

http://www.publicschoolreview.com/washington/lewis-county


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate


Lewis County Real Estate market stats for the 1st half of 2016

The first half of 2016 is under our belts and the real estate market is much different than it was at this time last year. Let’s take a look at how it compares to our 2015 market.

Sale price to sale price in Lewis CountyMarch, April and May were hotter than a firecracker! Home sales skyrocketed thus depleting our housing inventory.

Our market quickly transformed from a “Buyer’s market” to “Seller’s market”.

What exactly does it mean when real estate experts talk about months of inventory?

Months of inventory reflects an estimate of the amount of time it would take to sell all of the current listings in a given area if no new listings became available.

How do months of inventory impact real estate clients?

# of months of inventoryMonths of inventory are referenced when determining whether it’s a “Buyer’s market” or a “Seller’s market”.

  • When there are 0-4 months of inventory, figuring that all current listings can expect to be sold within 4 months, it is considered a seller’s market. Homes are selling very quickly. In a seller’s market, sellers hold the advantage because demand for property exceeds supply.
  • If there are 5-8 months of inventory, it is considered a balanced market. Current listings aren’t selling like hotcakes, but they’re moving at a consistent steady pace.
  • If there are 9 or more months of inventory, it is considered a buyer’s market because houses are moving slowly. In a buyer’s market, buyers have the advantage over sellers because the supply of listings exceeds the current demand for housing.

These timelines are approximate, but is generally accepted that less than 6 months of inventory reflects good conditions for sellers whereas greater than 6 months of inventory represents positive conditions for buyers.

In June our market began to balance out, with inventory increasing and sales slightly slowing. Currently we’re experiencing a very strong market.

Conditions are favorable if you’re considering making a move, why wait? Give me a call to discuss any & all of your real estate needs.


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate