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Selling your Home in 2021
Deciding to sell you home can be a big decision. Taking the guess work out of it and getting you in a position of success is much easier than you may think.
To sell or not to sell?
Is it time to sell my home? If you find yourself asking this question, you are not alone! This market is undoubtedly an incredible seller’s market and the cats-out–of- the-bag on our little piece of Pierce County paradise. Inventory is trending around the same as previous years, meaning the reason for the market’s continuous growth comes down the actual demand. We have more qualified home borrowers; low interest rates and… Washington has number one economy in the entire country! In terms related to the current market, your bet is pretty good. Market conditions aside, many of my clients are also looking to take advantage of higher home values and use the home equity in their current property towards the purchase of a dream or forever home. Whether you’re looking to time the market like a perfect Hawaiian wave or you have a more practical reason. Such as a growing family, not needing to commute or retirement, I have some great resources designed to help you through the process of selling your home with ease.
No Surprises
A number of clients come to me hesitant to sell because of the fear that an aspect of their home would cause an issue or potentially delay the sale. For many, hearing what’s “wrong” with their home from a buyer’s inspection can seem deflating. However, we have a great tool to combat that hesitation and take the surprise out of it. I present…pre-inspection! The beauty of conducting a pre-inspection is, it will help you determine the major issues (if any) and give you the opportunity to either fix the item(s) before you even go to market (leaky drain, service HVAC, update outlets). Or you can list your property and it will provide the buyer the opportunity to present an offer with the bigger challenges in mind (roof repairs, appliances, exterior paint). The purpose of such disclosure, is time. Some buyers will even waive an inspection if given a pre-inspection to consider. Saving 3 days to a week in your steps to close…hooray! Tools like a pre-inspection also provide peace of mind to both sides of the transaction. If you do decide to do a pre-inspection, choosing a reputable company is especially important. Some will even provide a summery checklist that can be helpful reminders of the priority items, either before listing or before closing.
Contingency is in the Eye of the Beholder
Remember when I referenced that little detail in the market right now called, demand? It’s great when selling your home! However, that high demand is also responsible for making some offers, especially contingent ones seem less attractive. Because demand is so high and buyers are very qualified, it can lead to many offers being in cold, hard, cash. Are you picturing a briefcase full of cash? Me neither. For all intents and purposes though, it’s a fun position to be in as a seller. So, “what does this have to with selling my home?” you ask. It’s less to do with actually selling your home and more to do with how you’ll use the current equity. If you’re looking to use the equity proceeds from your current home to purchase a new home AND you’re unable to qualify for the second mortgage without the sale of your current home, it may present a slight challenge in the timing of it all. Which is to say, it’s important to keep in mind the right offer and not just the highest or fastest closing one. The old adage of “a million dollars now or a penny that double every day” comes to mind. There are many options to consider if you do find yourself needing your equity to qualify for your new home. Many of my clients have been able to do a rent back, where you can rent your home for a desired period of time, (usually one to three months). The great thing is, you don’t have to move right away if you sell quickly. AND using this option will make the proceeds from your home liquid, giving you the very same “cash” leverage and competitive advantage for offers as you embark on your next purchase.
Simply put, if you’re ready to make a move and sell your home, there is no time like the present! Taking pre-inspection and the changing landscape of contingencies into consideration can put you leaps and bounds ahead in your preparations to sell. If you still have questions or are curious about home values in your neighborhood, let’s chat!
Ferrah Seifert, REALTOR
253.970.7579
Ferrah@windermere.com
What’s On Your MUST HAVE List for Buying a Home?
Congrats! You’ve made the decision to buy your first or maybe second or third home. As your search begins, your inbox is probably being flooded with notifications regarding new listings that are hitting the market each day. Flashy kitchens and pearly white bathrooms catch your eye but are lacking the location and yard space you desire, which puts you in sort of a pickle.
What really matters to you in your next home? 
It’s easy to get lost in the trends that are sweeping Pinterest; you might start to lose sight of your larger goal of buying a home that suits your wish list.
Let’s start with the basic and essential criteria for buying a home—price.
What’s your ideal monthly mortgage payment? The only way to accurately generate those numbers is to speak with a lender and get pre-approved. A pre-approval letter is also required to submit any offers, so it’s numero uno when you start the home buying process.
Don’t know who to work with? A seasoned real estate agent will be able to recommend a trustworthy and quality lender. Most agents have a preferred lender that has proven to be comprehensive and astute in the closing on time. With their support, you can begin your home search informed and with ease.
In addition to being able to connect you with reliable local professionals, your local real estate agent should also be able to provide you with accurate and relevant neighborhood information, as well as someone who is well-versed in negotiating offers when you finally find a home you love! These are all essential traits when it comes to winning in a competitive market.
Once you connect with an agent that you like and trust and have a price point to work with, your agent should ask for your top 5 list, aka what are the top 5 things you need and want your new home to have? What matters most to you in buying a home?
Now, your real estate agent can’t give you the answers—you and your loved ones will need to brainstorm what this list includes.
Whip out a piece of paper and start jotting down your thoughts regarding the following questions:
- Location, location, location! What neighborhood are you hoping to live in? What’s the average price point of that neighborhood? Find examples of homes that are currently listed or currently pending in that neighborhood to give you an idea of what the average cost of a home is within that area. Does walkability matter to you? What would you like access to within close proximity?
- What are your bare minimum number of bedrooms and baths? If you found your perfect home, would you be okay with one bathroom? Or do you absolutely need two toilets or showers? Is there an option to add a bathroom later if the home is on the lower end of your budget? What would you use each room for and how big do the rooms need to be to accommodate those needs? Is no walk-in closet a deal breaker? Jot down your wish list and what you would consider bare bones.
- Turnkey vs. Fixer Upper. It’s okay if you don’t have the design experience of Joanna Gaines and the patience of her husband Chip to execute the entire construction process of a home remodel. If you want a home that you can move into without a worry that you’ll need to change anything in the near future, then honor that. If you are willing to go down the renovation road to save money on price, then communicate that to your agent. Sometimes you can find the exact home you’re looking for, but the bathrooms are dated. Does remodeling bathrooms sound like a fun project? If so, check out homes that are a little rough around the edges with good bones! If renovating a home sounds like hell, consider that creating your dream home might be working with a builder on a new construction project.
- Do you need a yard? What’s important to you about an outdoor space? Would you like to have a yard that’s big enough for you to throw a ball for your pup to retrieve? Would you prefer a deck that you can have BBQs on with your family and friends? Is garden space essential for your sanity? Consider what you would realistically use this space for and how it would fit with your lifestyle.
- Living space. Functionality is what really matters with this one. What do you use your living space for? Do you need plenty of space for your kids’ toys or a spacious kitchen to cook and host guests in? Would you prefer everything on one level, or split up on multiple levels? This is obviously extremely subjective and can sometimes be best understood when viewing homes in person and visualizing your furniture and daily activities.
My hope is that these questions have been helpful in generating your “top 5” list of non-negotiables in a home. Write them down and communicate them with your real estate agent. Ensure they understand what your “MUST HAVES” are vs. your “NICE TO HAVES.” Once you’ve established your criteria, start looking at homes in person! It might even help you refine what really matters most in your upcoming purchase.
Do you have a question about buying a home in Tacoma? Feel free to get in touch with REALTOR® Ferrah Seifert at ferrah@windermere.com or at (253) 970-7579.
3 Reasons Why I Moved from Seattle to Tacoma
5 Reasons Tacoma is One of the Best Places to Live
As a Tacoma native and Western Washington University alum, I’ve lived all along the I-5 corridor. As soon as I graduated college, I was bound and determined to move out of my parents’ house, so I moved to Seattle with big dreams of someday owning a home up there. After living in this major metropolitan city for 8 years, my husband and I began investigating different opportunities to invest our hard-earned money, and buying a home was the obvious choice.
Where we decided to move depended on these 3 factors:
- AffordabilityWe both agreed that we didn’t want to purchase a property that would require a ton of renovations, and we also wanted at least a small yard for our pup. Our dreams of owning a home in Seattle proper were instantly crushed once we determined our desired price range and started looking around in the neighborhoods we liked. So, I extended our search criteria to include Tacoma. Not only could we buy a turn-key home in a desirable area within our budget, but we could also have a sizeable yard! Homes are simply a better value in Pierce County, and property taxes are also considerably lower than King County.
- Culture
During my time in Queen Anne and Ballard, I enjoyed the lively nightlife and access to restaurants and entertainment at every corner. When considering moving down south, I felt a slight twinge of panic at the thought of giving up living so close to local boutiques, tasty treats, and nights out on the town. I was raised in University Place, so I had an image of what the local scene was—but boy, was I wrong.
Into Asian Street Eatery
The City of Destiny has grown significantly in recent years, and the local culture is thriving. Since moving into our home in Tacoma, I still haven’t dined at all of the new restaurants because I’ve been visiting some of the long-time favorites like Indochine Asian Dining Lounge, The Harvester, and Cook’s Tavern. One of my favorite new restaurants is Indo Asian Street Eatery- if you haven’t been there yet do yourself a favor and check it out. I’ve also explored exhibits at the Tacoma Art Museum (TAM), brought my little one to the Children’s Museum of Tacoma, and attended multiple farmers markets at Point Ruston and Proctor District. They even have a Tacoma Night Market each month filled with local vendors and food trucks galore.
- CommunityMoving back home had its obvious perks of being close to my extended family, especially once we decided to grow our family. However, even if you are not from Tacoma, people actually smile at you when you walk down the street and there is a high likelihood that you’ll see a few familiar faces after frequenting the same brewhouses or local coffeeshops. Tacoma has a small town feel that is comforting and provides a nest to build upon. There is also a plethora of opportunities to get involved with your local neighborhood. For example, you can attend the Turkey Trot in Proctor, check out Pod Works (a club designed for entrepreneurial moms), or volunteer at one of the many organizations working to make a difference in our community.
Compass Rose Boutique in Proctor District
If you’re considering taking the leap to get more bang for your buck, let’s chat about the various neighborhoods and where you could start your search. I would even make the trip up north to buy you a coffee—as long as we can go to Café Vita or Ballard Coffee Works! 😉
You can reach out to REALTOR® Ferrah Seifert at (253) 970-7579, ferrah@windermere.com, or via this contact form.
