Should I Sell My House This Year?

If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!

As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:In the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.

When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:

• Northeast: 71% positive
• Midwest: 76% positive
• South: 72% positive
• West: 81% positive

In addition to looking at income and region, the report also divided the results by generation, as shown in the graph below:As you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.

According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:

“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

Bottom Line

If you’re ready to list your home, you can feel good about the current sentiment in the market. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.

Leslie Sells Houses

Tips To Get Your House Ready To Sell This Winter.

Some Highlights

• Winter is a great time to list a house, since inventory is traditionally low, and most sellers are holding off until spring to put their homes on the market.
• Waiting for warmer weather when more competition is on the market will only put your house up against many more choices for buyers.
• Get your house ready to sell now with quick and easy fixes that make a big impact.
• Leslie Sells Houses

 

Tips To Get Your House Ready To Sell This Winter

Housing market expected to heat up in King, Pierce Counties

If you are in the average price range for the county… The bidding wars are here now. It takes patience for your average buyer to get a home they want. But, know that going in and you will prevail. 🙂

Real estate experts say low inventory will mean the hottest housing market in years. Experts also call for an increase in bidding wars on homes.

GIG HARBOR, Wash. — Real estate experts say the 2020 housing market is going to heat up to levels that haven’t been seen since 2017.

According to Northwest Multiple Listing Service, the number of homes on the market has dropped dramatically: 54% in Thurston County, 41.4% in King County, and 40% in Pierce County.

That means the homes that are on the market are expected to sell faster and go for more.

“We have record low inventory, so when houses do come on the market, they’re gone,” said Windermere real estate agent Cindy Marchand. “We normally have them sold within a week to 10 days. Sometimes faster.”

Windermere agent Nick Dahl said the crunch has triggered a heightened interest in new construction, like Gig Harbor’s Cushman Pointe development, which features 51 lots.

“We’ve been moving a lot faster than we actually anticipated,” said Dahl. “We’ve sold 19 homes already, and I think we’ve beat most of our goals in terms of selling houses per month.”

Come spring and summer, the hot market will likely mean an uptick in bidding wars.

Leslie Sells Houses

Hawkins Poe Real Estate

Redfin, the Seattle-based real estate brokerage site, expects about 25% of offers to face bidding wars in 2020 compared to only 10% last year.

Along with low inventory, the factors driving the crunch include a strong job market, low-interest rates, and an influx of out-of-state buyers.

Marchand said current market forecasts show the market may not cool off until 2021.

RELATED: Real estate broker commissions can now be part of Washington home listings

RELATED: Number of new Seattle renters skyrocket in early 2019, report finds

Real estate trends for Western Washington

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Housing market expected to heat up in Pierce and King counties

Leslie Sells Houses

Have You Outgrown Your Current Home?

Has selling your home crossed your mind? For many homeowners, the thought of selling their house is quite conflicting. On one hand, it’s the space where your family and friends gather to celebrate the moments of life, both little and large. On the other, sometimes relocating to a new space is the change you need to accommodate your current finances and lifestyle. One way that you can identify if it’s time for you to move is when you notice that you’ve outgrown your current home.

Have you outgrown your current home? Here are ten signs it is the perfect opportunity to sell your home.

1. Your children are growing up.
   As your children grow, so will their needs. Sharing bedrooms and bathrooms may not be practical anymore, especially if you have boys and girls of different ages.
2. Aging adults are moving in.
   The birth of a new child isn’t the only way your family can grow. If you or your partner have aging adults that need to move into your home, you’ll need more space. Often, a spare bedroom isn’t enough to accommodate their needs. Parents and grandparents may need a separate living space in addition to their own bathroom, bedroom and even kitchen.
3. There is no dedicated space to work.
   Are your kitchen counters covered with paperwork? Do your children struggle to do their homework at the dining room table as you’re trying to set places for dinner? If there is no dedicated office or space in bedrooms for your family to work, you may need a larger home.
4. Your family needs room for playtime, hobbies, and activities.
   Additional space is required for more than just paperwork and homework. If there’s no room for children to play with their toys or adults to engage in their hobbies, the house can feel quite cramped. This is especially problematic when you realize that dedicated spaces like a garage, basement or attic can’t adequately double as activity spaces and storage spaces.
5. Storage is increasingly limited.
   Are your possessions neatly tucked away or are they always in the way? If you’re having trouble finding adequate storage space for your family’s items, it will make your home feel much smaller.
6. You need more — or less — outdoor space.
   While it’s common for many families to desire a larger yard space for outdoor entertaining, there are just as many homeowners that have outgrown their lawns. Whether you’re in need of more space or less lawn care, a new home may accommodate your outdoor needs.
7. There are major life changes occurring in your family.
   Selling your home is sometimes the best option when you find yourself entering into a major life transition such as a change in finances or occupation.
8. You’re outgrowing your neighborhood or neighbors.
   Even though you love your home, you may feel the need to change your surroundings. If you desire a neighborhood or neighbors that align with your lifestyle, selling your home is an option.
9. You’ve been passively looking at other homes.
   Do you catch yourself browsing listings even though you’re not “actively” looking? That’s a firm indicator that you’re ready for something new.
10. You’re not in love with your home anymore.
    Simply put — if it’s not the home of your dreams anymore, you should consider selling.

Selling your home is a major decision that shouldn’t be made lightly. Consider these points, have an open discussion with your family, and reach out to a real estate agent if you believe now is the right time to sell.

 

Leslie Sells Houses

New Real Estate Excise Tax For 2020

 

The Washington real estate excise tax, otherwise known as REET is facing changes January 1, 2020. What are the changes, and how will it affect you? If you are planning on buying, selling, or transferring real estate, these are questions you need to know the answers to. This is your guide to how REET is changing and everything you need to be aware of on the first day of 2020. For a complete guide and overview of the new REET and how it will affect you, click here to read our latest blog.

 

November Housing Market Results Are In! The November housing stats for our area are in, and they are pretty exciting. New construction showed a 16.8% increase in sales, with the median home price now being just over a half a million dollars, which are up only over 10% from last November. Wow! We began to see the market slow down with 15% fewer homes on the market this November than last. Yet another sign that listing your home at this time of year can be very beneficial with far less competition than warmer months.   To see more about November’s housing market, click here.

Real Estate Calculator The new Real Estate Excise Tax (REET) can make a significant impact on a purchase. Wondering how much the latest real estate taxes will impact the cost of an investment? Click here to use Rainier’s REET calculator to determine the cost of your real estate taxes.

 

 

 

 

 

 

Leslie Sells Houses

Five compelling reasons to list your house this winter.

5 Reasons to Sell Your House this Winter

Below are five compelling reasons to list your house this winter.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.

3. Buyers Are Serious at This Time of Year

Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off may be your best opportunity to shine.

4. There Will Never Be a Better Time to Move Up

If your next move will be into the premium or luxury market, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you’re planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level home is high, and inventory in the luxury or premium market is too.

According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.

5. It’s Time to Move On With Your Life

Look at the reason you decided to sell in the first place and determine whether it’s worth waiting. Is money more important than being with family? Are you ready to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market this winter. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Leslie Sells Houses

The KCM Crew

We at The KCM Crew believe every family should feel confident when buying & selling a home. KCM helps real estate professionals reach these families & enables the agent to simply & effectively explain a complex housing market. Take a 14-Day Free Trial of our monthly membership to see how we can help you!

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