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Some Reasonable Advice for Sellers

By Glenn Roberts on April 3, 2010 9:26 AM | No Comments

Sellers: This is something you need to understand

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This Buyer's Market and 5 things that do not influence the price of your property.

 

For many years we had a Seller's market. Prices were going up steadily, sometimes very quickly. You probably bought during one of these periods. Just about everyone who sold during those times could take a chance and price their home a little high. Often, if they waited long enough, the market would catch up to their price and there home would get sold.

But for the last two years things have been different. The market crashed. It crashed all over the country and it crashed right here in Seattle. It crashed in my neighborhood and in yours, too. Prices came down as much as 20, 30 even 40% on average. Even more for some homes. Ouch. That is a big hit.

And now you want to sell. That's great and I look forward to helping you, but I want you to consider this. The market is still trending down. Very slightly but still down. Short sales and foreclosures are being sold at big discounts and they are , in the eyes of the appraiser, valid comparables for your home. Buyers are making the choices and they often pick the cheaper home that is a short sale or foreclosure, especially since it is in just as good of shape as yours.  So pricing to test the market and waiting for it to go up may take years. Remember, the market is still going down.

Even if you see a home in the neighborhood that sold with multiple offers, it was probably because the seller priced it below market, not above market. The important thing to do is get several Realtors opinions of the value of your home and then do not pick the one that is way higher that the rest. Take the lower values and average them. Nothing hurts your sale more than long market time and even being slightly high can add weeks and months to the time it takes to sell.

And remember this too. Here are five things that do not influence the value of your home:

  1. The amount you paid for your property, no matter when.
  2. The amount of money you need from the sale to buy something else, pay bills, retire, or take a trip. It just doesn't matter.
  3. What it was worth two years ago. You may have had a market analysis done then. Forget about it.
  4. What a neighbor or family member said your property should be worth. Get the opinion of someone who has been in the business a number of years and is working as a Realtor now. It just makes sense.
  5. An appraisal done for a refinance. An appraiser doesn't have to get you house sold in order to get paid. You pay him and he does his work. Realtors work the other way around and only get paid if the sale happens.

 

    Energy Credit...The Advantage is Yours

    By Glenn Roberts on May 27, 2009 10:19 AM | No Comments

    I recently received this information from Kristine Messick, and it was so well presented I asked to share it word for word.

     

    Energy Efficiency Tax Credit

    Now is the time to improve the energy features of your house.  During 2009/2010, you can recoup your investment by:

    Lower your energy bills               Increase homes value

    Save up to $1,500 on tax bill       Improve the environment

    Call Crow's Nest Home Inspections to schedule an Energy audit and find out what improvements will make the largest impact on reducing your energy bills now.

    The American Recovery and Reinvestment Act of 2009 allows tax credits for energy efficiency improvements. Homeowners may claim up to 30% of costs of all equipment purchased during the aggregate two-year period of 2009 and 2010, up to $1,500 total.

    Tax credits for installations made in 2006 and 2007 are still limited to the previous law's $500. Any purchase made in 2008 is not eligible for this tax credit.  

    Eligible Improvements  
    Owners of existing homes receive a tax credit worth 30% of the cost of upgrading the efficiency of their home. The following improvements are eligible for the tax credit:

    Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only) for:

    Windows and Doors                           HVAC

    Insulation                                            Water Heaters (non-solar)

    Roofs (Metal and Asphalt)                   Biomass Stoves

     

    Tax credits are available at 30% of the cost, with no upper limit through 2016 (for existing homes & new construction) for:

    Geothermal Heat Pumps                    Small Wind Energy Systems

    Solar Panels                                       Fuel Cells

    Solar Water Heaters

    Performance and quality standards for tax credit eligibility vary by technology. See the Energy Star web site  for detailed information on qualifying products, http://www.energystar.gov, under Federal Tax Credits for Energy Efficiency.

    What is a Tax Credit?
    There is an important difference between a tax credit and a tax deduction. A tax credit is subtracted directly from the total tax liability. On the other hand, a tax deduction is subtracted from income before total tax liability is computed. This means that a credit is much more advantageous to the taxpayer than a deduction.

    Provided by:
    Kristine Messick
    Inspector/Energy Auditor
    Crow's Nest Home Inspections, LLC
    Structural Pest Inspector Lic. No. 67622
    ASHI Member No. 242969
    Cell (206) 310-2613 or (360) 628-9010
    Schedule (206) 354-3092
    www.crowsnestinspect.com

    A Summer Landscaping Project

    By Glenn Roberts on May 20, 2009 11:36 AM | 5 Comments

    You can make an important contribution to reduce the amount of storm water and pollutants coming from your property by incorporating rain gardens into your yard.

     

      rain.jpg A rain garden acts like a native forest by collecting, absorbing, and filtering storm water runoff from roof tops, driveways, patios, and other areas that don't allow water to soak in. Rain gardens are simply shallow depressions that:

    ·         Can be shaped and sized to fit your yard.

    ·         Are constructed with soil mixes that allow water to soak in rapidly and support healthy plant growth.

    ·         Can be landscaped with a variety of plants to fit the surroundings.

     

    Here's a detailed handbook prepared by WSU on how to beautify your yard, conserve water, and help protect our streams and estuaries from pollution.

     

     

    Landscaping Anytime

    By Glenn Roberts on May 6, 2009 8:52 AM | No Comments

    Many times a Realtor will recommend that you do major landscaping to improve the value of your home when you sell. Going to all that expense and work is fine if you haven't bothered to get it done while you've lived in the house. Landscaping can add 15% to the value of your home.

    But, just in case you are not planning to sell in the near future, why not do some landscaping for yourself? If you are not a gardener by tradition,  start small. Most projects take two years to establish, and five years to mature. During that time you learn what plants work well in your yard and which ones are too big or too much work to maintain.

     DSCN0479.jpg

    There are some good examples in an online article on msn today.

    Do something nice to your yard, and you'll be doing something nice for yourself.

    Preparing To Sell? Clean! Fix! Replace!

    By John "Mack" McCoy on April 24, 2009 7:21 AM | No Comments

    Regardless of market conditions, home sellers get top dollar when their home is move-in ready, and sell at a discount as the to-do list grows.

    The least-expensive activity that pays off the best is to clean. Everything. Kitchens and baths should be spotless - no mold, missing or discolored caulk, rusty or stained sinks or tubs or toilets - spotless. Pristine, even.

    Gutters, basements, garage - clean, clean, clean.

    If it won't clean, then paint it. If you can't draw a color wheel from memory, stick with neutrals, but paint. Entries, door jambs, places where pictures have hung for a decade. Clean, or paint.

    If it's broken, fix it! Light fixtures, switch plates, appliances (well, we never use the back burner), windows or screens or screen doors or whatever - fix it! If you don't fix it, then you've got a "fix-er!"

    If you can't clean or fix it, replace it! A dirty stove or bathtub costs more than a new one; maybe that vinyl floor in the kitchen's time is up.

    Some things just need to be replaced: old water heaters and gas furnaces will be called by inspectors, and the buyers will get (and trust) bids that are higher than yours. Sometimes, an oven or fridge just won't clean up.

    Your home only has one chance to make a good first impression - make sure the paint is in good condition, the gutters and roof are clean, and the walkways are clear. Trees should be carefully pruned; landscaping should be meticulous.

    Prospective buyers are looking for reasons to reject your house. To successfully sell - don't give 'em any!

    Home Tips for Earth Day

    By Jason Wall on April 22, 2009 7:40 AM | 2 Comments

    greenlake001_jasonwall_copyright.jpgHappy Earth Day.  There are many small things you can do around our home to save a few dollars and live a little more lightly.

    1) Install a programmable thermostat.  A programmable thermostat prevents the furnace or heating system from running when it is not needed.  You can program the thermostat for a lower temperature while you are away from home or cuddled under your blankets at night.  Prices start at around $50.00 and are an easy do-it-yourself project.

    2) Drink tap water.  Go ahead grab one of those stainless steel water bottles and fill it up.  Our tap water in the Seattle region is just fine.

    3) Use eco-friendly paint.  Traditional paint options contain VOC's, volatile organic compounds, that release harmful pollutants into the air.  The options in low VOC paints are now numerous and most major paint retailers now offer them.

    4) Clean the lint screen in your dryer.  The lint collects in the filter and prevents air flow in the drying process, forcing your dryer to work harder.  Clean out the lint trap and let the air flow.  It is also a safety issue, as it can be a fire hazard.

    5) Fix your leaky tap.  A small drip from your leaky tap can waste 3 gallons of water a day!

    A few small (and easy) changes can make a difference. 

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