What You Don’t Need To Hear From Your Listing Broker

0209-KCMYou’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:

  1. Set the market value on possibly the largest asset your family owns (your home)
  2.  
  3. Set the time schedule for the successful liquidation of that asset
  4. Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost about you and your family in order to garner that degree of trust. Make sure this is the case.

Be careful if the agent you are interviewing begins the interview by:

  • Bragging about their success
  • Bragging about their company’s success

An agent’s success and the success of their company can be important considerations when deciding on the right real estate professional to represent you in the sale of the house.

However, you first need to know that they care about what you need and what you expect from the sale. If the agent is not interested in first establishing your needs, how successful they may seem is much less important.

Look for someone with the ‘heart of a teacher,’ who comes in prepared well enough to explain the current real estate market and patient enough to take the time to show how it may impact the sale of your home.

Not someone only interested in trying to sell you on how great they are.

You have many agents from which to choose. Pick someone who truly cares like Steve and Sandra.

Posted on February 10, 2016 at 8:52 pm
Steve Hill and Sandra Brenner | Category: Real Estate, Seattle Home For Sale, Seattle Homes for Sale, Seattle Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

217,726 Reasons to Buy a Seattle Area Home Now!

217,726 Reasons to Buy a Home Now! | Keeping Current MattersThe inaugural Opportunity Cost Report was released recently by realtor.com. The report explained that “with interest rates and home prices expected to climb in the next year, the financial penalties of delaying or forgoing a home purchase in today's market have become very steep”.

The report estimates that, based on today's dollars, the average purchaser would accumulate $217,726 in increased wealth over a 30-year period.

(You can get the projected wealth increase for almost 100 metros here.)

What could this mean to someone sitting on the fence waiting to buy?

Experts believe that both home prices and mortgage interest rates will increase over the next twelve months. Obviously, if this does happen, the monthly cost of a home a year from now will be dramatically higher than it is today. The Opportunity Cost Report breaks down exactly how much a purchaser could lose over increments of one year and three years. Here are the results based on an average purchaser in the U.S. delaying their purchase:

Bottom Line

If you are ready, willing and able to buy a home, waiting doesn't make sense.

When you are ready to jump off the fence, give us a call, text or email and put our experience and negotiating skills to work for you!

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate
206-769-9577

stevehill@windermere.com


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Posted on June 10, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Seattle Home For Sale, Seattle Homes for Sale, Seattle WA Homes for Sale, Seattle WA Real Estate

5 Reasons You Shouldn’t For Sale By Owner Your Seattle WA Area Home

In today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies which work for the buyer and will almost always find some problems with the house.
  • The appraiser if there is a question of value

2. Exposure to Prospective Purchasers

Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

  • 43% on the internet
  • 9% from a yard sign
  • 1% from newspaper

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with us and see what we have to offer.

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com
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Posted on June 2, 2015 at 4:06 pm
Steve Hill and Sandra Brenner | Category: Real Estate, Seattle Home For Sale, Seattle Homes for Sale, Seattle WA Homes for Sale, Seattle WA Real Estate

Selling Your Seattle WA Area Home? Price it Right Up Front

Selling Your House? Price it Right Up Front | Keeping Current MattersIn today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

There is no “later.”

Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered the their price. In his article, Listing Price, Time on Market and Ultimate Selling Price published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think, “Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it!

A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right

Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Look for an agent that will take the time to simply and effectively explain what is happening in the housing market and how it applies to your home. You need an agent that will tell you what you need to know rather than what you want to hear. This will put you in the best possible position. Check out our Ulimate Home Selling System HERE.

Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST

Windermere Real Estate

206-769-9577

stevehill@windermere.com

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Posted on April 5, 2015 at 11:00 am
Steve Hill and Sandra Brenner | Category: Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

All these Seattle WA homes are open Sunday!

Check out all Seattle WA homes open today right HERE!

Tired of losing out in multiple offers? Put us to work for you by using our powerful neighborhood knowledge and negotiating skills and get the Seattle WA home you deserve.

Call, text or email us today!

 

Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST

Windermere Real Estate

206-769-9577

stevehill@windermere.com



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Posted on April 5, 2015 at 9:05 am
Steve Hill and Sandra Brenner | Category: Buying a Seattle WA Home, Seattle Home For Sale, Seattle Homes for Sale, Seattle Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

Industry experts agree: Seattle WA housing supply is too low

Industry Experts Agree: Housing Supply Too Low | Keeping Current Matters

Last week, we reported on the lack of housing supply and how that was impacting the real estate market. Today, we want to let you know what other industry experts are saying.

Daren Blomquist, RealtyTrac Vice President:

“It’s kind of a seesaw right now between supply and demand. One of the reasons for fewer sales is not so much a lack of demand but a lack of supply, especially in the price range the majority of buyers were looking for.”

Diana Olick, CNBC’s Realty Check:

“Total sales are still running below expectations for the year. Don't blame winter weather, though. Blame the lack of supply.”

Bill McBride, Founder of Calculated Risk:

“Inventory is still very low (down 0.5% year-over-year in February). This will be important to watch over the next month at the start of the spring buying season.”

Lawrence Yun, Chief Economist at the National Association of Realtors:

“Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels. Stronger price growth is a boon for homeowners looking to build additional equity.”

Realtor.com

“The National Housing Trend Report shows that inventory has decreased 10.9 percent year over year.”

And some experts are actually calling it a “seller’s market”

Forbes.com

“Tight inventory is a main reason the ball is still in the sellers' court.”

Bill Banfield, VP of Quicken Loans:

“We’re a bit low on the supply-side which could force prices up for buyers, further hammering home that we’re in a seller’s market.”

Bottom Line

If you are debating putting your home on the market this year, now may be the time. The number of buyers ready and willing to make a purchase is at the highest level in years. Contact us today to get the process started!

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

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Posted on April 3, 2015 at 3:05 pm
Steve Hill and Sandra Brenner | Category: Seattle Home For Sale, Seattle WA Homes for Sale, Seattle WA Real Estate

Seattle’s Ballard neighborhood continues to be hot!

Check out Ballard's recent real estate stats right here!

 

Posted on March 31, 2015 at 3:05 pm
Steve Hill and Sandra Brenner | Category: Real Estate, Seattle Homes for Sale, Seattle WA Homes for Sale, Seattle WA Real Estate

Seattle WA Home Buyers – Don’t Let Your “Luck” Run Out

Don’t Let Your “Luck” Run Out | Keeping Current Matters

The 30-year fixed mortgage interest rate is currently still below 4%. Many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year, believing they still have time to lock in a low rate.

If you look at what the experts are predicting over the course of the next 12 months, it may make the decision for you.

Predictions for 2016 2Q:

Even an increase of half a percentage point can put a dent in your family’s net worth.

Let’s look at it this way…

The monthly payment (principal & interest only) on a $250,000 home today, with the current 3.86% interest rate would be $1,173.

If we take that same home a year later, the Home Price Expectation Survey projects that prices will rise about 4.4% making that home cost $11,000 more at $261,000.

If we take Freddie Mac’s rate projection of 4.7%, the monthly mortgage payment climbs to $1,354.

Some buyers might not think that an extra $181 a month is that bad. But over the course of 30-year mortgage you have spent an additional $65,160 by waiting a year.

If you are considering a home purchase in Seattle, check out all of the homes availble in Seattle WA favorite neighborhoods right HERE.

Put our experience and negotiating skills to work for you. Discount brokerages don't offer the same level of personalized service as us. We are with you every step of the way! Check out our reviews at BrennerHillReviews.com.

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com


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Posted on March 17, 2015 at 11:47 am
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle Homes for Sale, Seattle WA Homes for Sale

Location, Location, Location!

Location, Location, Location | Keeping Current Matters

 

A recent Demand Institute report revealed “nearly half of all American households plan to move at some point in the future.” Seventy-five percent of those surveyed in the report cited one or more ‘location-related reasons’ for their eagerness to move. Here are the top 5 reasons:

  1. Safer Neighborhood – 30%
  2. Closer to Family – 27%
  3. Change of Climate – 26%
  4. Closer to Work – 25%
  5. For a New Job – 23%

While the majority of Americans (74%) will move within their home state, for the 26% planning to call a new state home, it is important to know that prices in each state are appreciating at different rates and waiting to buy or sell your home could cost you more in the long run. The map below was created using the FHFA’s latest Home Price Index and shows year-over-year price gains in each state. Year-Over-Year Price Gains | Keeping Current Matters

Bottom Line

If your plan for 2015 includes relocating to a new state, let us get you in touch with a local real estate professional in that area who can help you find the best fit for you and your family’s needs.

As Windermere Relocation Specialists, we can assist you if you are moving across town or around the world.

Moving into or out of the Seattle metro area? Give us a call, we represent both buyers and sellers in this beautiful area we call home.

Useful Home Buying and Selling Information at: SeattleFreeHomeInfo.com

 

What Is Your Seattle WA Area Home Worth? Find Out Here for Free! SeattleWaHouseValues.com

 

STEVE HILL and SANDRA BRENNER | Broker | REALTOR®

SEATTLE – NORTHWEST
Windermere Real Estate / FN

DIRECT/TEXT 206-769-9577
OFFICE 206-367-4720

FAX 206-361-6943

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Posted on March 16, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Home Buying, Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

New Construction = New Competition

For the last several years, home sellers had to compete with huge inventories of distressed properties (foreclosures and short sales). The great news is that the supply of these properties is falling like a rock in the vast majority of housing markets (only 11% of homes sold in January). Many homeowners are now thinking of selling as the impact of this substantially discounted competition has disappeared.

However, every seller of an existing residential property must realize that there is a new form of competition in the market: newly constructed homes.

According to the National Association of Realtors’ Profile of Home Buyers & Sellers new home sales accounted for 16% of all homes sold in 2014. The graph below shows the top 5 reasons that a buyer would choose new construction over an existing home.

The top three should not come by surprise. With a new home comes the ability to customize the design of the home and the ability to avoid having to renovate or deal with existing problems.

The 10% of respondents who cited “Lack of Inventory of Existing Homes” could very well increase in 2015. Existing home inventory for sale currently sits at a 4.7 months supply, well below the six-months needed to be at a historically normal market.

National Association of Home Builders (NAHB) reports that there is currently a 5.4 months supply inventory of new construction available for purchase.

Bottom Line

With a steady buyer demand currently in the market, if you are thinking of selling, perhaps you should do it now to avoid additional competition coming to the market. Give us a call, text or email and put our experience and marketing skills to work for you!

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

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Posted on March 3, 2015 at 3:00 pm
Steve Hill and Sandra Brenner | Category: Real Estate, Seattle WA Homes for Sale, Seattle WA Real Estate

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