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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
Buying in Today’s Market
Buying a Home in 2021
Real estate is one of the best decisions you can make for your financial future, especially when you factor in the unknowns with renting. Without question, you’ll be sure to find that the financial benefit, both in tax deductions and long-term equity will far outweigh those of renting. Emotionally speaking, renting can leave you vulnerable to the whims of a landlord. Even in times like today, when homes are selling for record prices, the reward of owning and gaining equity is far better than putting that money into someone else’s investment pocket. High demand from qualified buyers and low interest rates, mean we are poised for continued growth and stability. Which is why the threat of a bubble or anything resembling the financial crisis of 2008 is not likely. If you read my article on “Thinkin About Selling your House” you know that the reason for the higher sales prices is because of a massive increase in demand. Due in large part to COVID-19 and the shift to more remote or hybrid working models. In addition, Millennial’s currently make up the largest population in the US. With growing families, requiring more space. Even buyers that gained small fortunes through cryptocurrencies such as Bitcoin are looking to diversify and put their money back into traditional assets such as a home. With the gift of hindsight, better lending practices for the last decade+ and the freedom to live further from the office, ,buyers have an incredible opportunity to make owning a home a reality.
Crisis Averted
Addressing the housing crisis of 2008 is important, not to drum up the ugly past, but to know why now is different. There is a lot to be gleaned from an experience like that and more importantly actions to be take. Measures have been put in place to ensure history does not repeat itself. With that said, for those of you that are still weary of the what the housing market has to offer, I find it important to snorkel some details of 2008 before we touch on today’s market. Let’s rewind the clock to 2008 – to a simpler time when Flo-Rida was getting people “Low” on the dance floor at weddings and the NY Giants won the super bowl. A world where side swooped bangs were all the rage and the financial world was just giving out money. In the simplest terms, bad loans we given to people that could not afford them. Loose lending practices such as “liar” or “ninja” loans were being approved without verification of assets or income. Crazy, right?! The loans were set as ARM’s (adjustable-rate mortgage) and set to start adjusting all around the same time. This lead to widespread defaults. This to say, since then things got better, MUCH better. Through tightened lending practices, income, employment and assets verifications now serve as a bare minimum in qualifying for a loan. Ensuring you don’t get yourself into a loan that you can’t afford. Additionally, interest rates were lowered and continue to hover around record lows to encourage buying and investing. Making your money go further and monthly payments more affordable. Even for a higher priced, high demand homes. We have learned a great deal since then, so, let’s take the bear market by the ears and run with it!
Getting to the Heart of the Acceptance
It’s no secret the game to offer and acceptance has changed or at least gotten more competitive. The practicalities of a closed transaction rely on a lot of financial factors, but it’s important to keep in mind the feelings and emotion that also gets wrapped up in all of it. Have you stopped to wonder why some offers win? Moreover, why some brokers might have higher odds at helping their client get accepted? I think you’ll find luck has less to do with it than you think. Many times, it comes down to down to the negotiation process and the nuance of it. Having a broker, you trust to have you back and best interests is the first step. You also want someone on your side that will dig deep and find the motivation of the seller and the sellers agent. Is it the easiest deal? Is it a the lifelong home of a seller wants it filled with a new family to grow up in? Is it flexibility and the ability to do a rent back? I go into negotiation with agents on behalf of my clients with two things in mind; is it fair and is it reasonable? My job is to position you in the best light and that often comes down to communication. I’ve had the opportunity to learn from some of the best and combine my real-life experience with my psychology background to do just that. That kind of leverage is powerful. I am here for you and you can rest easy knowing I will do what needs to be done. Those that win the offer game are the ones who are not afraid to communicate the needs of their clients and aren’t afraid to get down to brass tacks for them. In some cases, you might even find out something new about your likes or needs.
If you’re contemplating buying a home and you can, you should! Take advantage of the low interest rates, responsible lenders and brokers that will go to bat for you. Set the fears of the past aside as teaching moments and remember to be realistic. It also never hurts to put the good energy out into the universe, visualize and manifest what buying a home looks like for you. I can’t wait to help you find the perfect home for you!
Ferrah Seifert
253.970.7579
Ferrah@windermere.com
@FerrahChino
Three of the Most Walkable Neighborhoods in Tacoma: Downtown Tacoma
Let’s continue our discussion on walkability with our next neighborhood, Downtown Tacoma!
Downtown Tacoma is a walker and biker paradise! No surprise, right? As you wander around Pacific Ave., you’ll stumble along various outstanding vendors and museums. Starting on the corner of 21st and Pacific Ave., you’ll find the Harmon, Tacoma’s original craft brewery with tasty beers and pizza. If you’re interested in a quick brewery tour, you can also swing by 7 Seas right up the street on 21st.
Want a fine dining experience? Look no further than Indochine Asian Dining Lounge, which has superior cocktail and Thai fusion entrees that will make your mouth water. I worked there for many years and never have gotten bored of their diverse menu and top notch service. You can also grab a quick bite at Senergo, Than Brother Pho or Sam Choy’s Poke to the Max.
When you cruise along this strip of business in front of University of Washington Tacoma, it’s impossible to not stop by Little Sister or Satori Boutique. I’m addicted to Little Sister’s eco-conscious skincare products and Satori’s trendy display of high-end fashion that doesn’t break the bank. Plus, these two businesses are owned by a local Fashionista and Boss Babe, Diamond.
Once again, I digress into food and shopping. What else is around Downtown Tacoma? Plenty! The Studio is a Pilates studio with Reformer machines that activates muscles that you didn’t even know you had. Their inclusive environment makes newcomers feel welcomed – they even have Foundations classes that give newbies the opportunity to learn the ropes (literally). Within a short walking distance from here you can check out the Washington State History Museum, the Museum of Glass, and Tacoma Art Museum (TAM).
As you continue down Pacific Ave, you’ll pass mom favorites like Children’s Museum and Attune Collective before arriving at Yoga Wild. This yoga studio offers sliding-scale pricing, inclusive social media, and community involvement. They aim to reach a population outside of the typical yoga demographic and bring people together under the umbrella of their core values: nature, community, yoga. Their light-filled studio is located in the basement of old Post Hall that also features a community workspace, The Pioneer Collective. You can rent conference rooms, classrooms or simply drop-in for an afternoon to work in a gorgeous setting. I’m actually writing this article there right now! 😉
If you want to grab happy hour with a friend, Matador has signature margaritas that are delicious and their Happy Hour menu will make sure you leave with a full and happy belly. But if you are still hungry or wouldn’t mind just one more cocktail, Wooden City is right across the street. This picturesque restaurant offers outdoor space, airy design and scrumptious menu items.
Any gamers out there? Be sure to check out the Dorky’s Arcade with a wide selection of pinball machines, classic and new video games that will be sure to delight people of all ages. Remember after 9pm, it’s 21+.
If you’re in the area after dark and like to sing karaoke, do yourself a favor and stop by The Mix or Puget Sound Pizza. I’ve had countless nights watching Drag Queens sing karaoke at The Mix and they are some of my favorite memories—trust me they do NOT disappoint.
Enough about what I think, what are your favorite Tacoma businesses?
Interested in buying a home in this neighborhood? Click here for dialed in search of homes for sale in Downtown Tacoma.
Three of the Most Walkable Neighborhoods in Tacoma: Proctor District
One of the topics that is consistently brought up by my buyers is the walkability of a neighborhood. Who doesn’t want to be able to walk to a local coffee shop on Saturday morning with your pup?
So, what neighborhoods have the best walkability in Tacoma? I’ve done a little research and here are my findings:
Proctor District has the huge benefit of giving patrons the option to accomplish most errands on foot. There is Olympia Coffee, which is one of my personal favorites, and Starbucks across the street. You can pick up groceries from Metropolitan Market, Safeway or the local farmers market each Saturday.
What is your favorite type of cuisine? There is a high likelihood that Proctor has you covered with classics like Peaks and Pints, Pomodoro Italian Restaurant & Bar, and East & West. Not to forget the new kids on the block—Crudo & Cotto and Cactus Proctor are quickly becoming local staples!
Shops in the neighborhood never disappoint with a plethora of local goods at your viewing and purchasing pleasure. I’ve never walked into Compass Rose without buying something or reluctantly tearing myself away from a household item, baby item, or piece of jewelry. This store is my go-to for gift shopping! And with Chirp & Go a few doors down and Fern Seed around the block from Compass Rose, you don’t have to go far to satisfy your gardening and indoor plant cravings.
Fern Seed
Okay, okay, enough with the shopping… What else can you do in Proctor District? As Washington’s oldest continuously operating theater opening November 23, 1923, The Blue Moose Theater is a Tacoma staple. They play movies for discounted prices and feature an interactive Rocky Horror Picture show two Saturdays a month. I remember going as a teenager and I will never forget it.
As an avid yogi, I’m also extremely thankful for TacOMa Yoga! This studio offers alignment, vinyasa and yin classes to appeal to every student. Each teacher I’ve had the honor of taking a class from has been exceptional.
Enough about what I think, what are your favorite Tacoma businesses?
Interested in buying a home in this neighborhood? Click here for dialed in search of homes in Tacoma’s Proctor District.
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.
Selling Your Home? Here Are the Top 5 Home Updates You Can Make for the Best ROI
According to this article via NerdWallet, 70% of American homeowners believe that their house is their biggest asset. And as you might expect, taking the time to keep up with repairs and make smart improvements to your home are proven ways to increase your home’s value.
When you’re determining where to spend your time, energy, and money on home updates, many homeowners will want to focus on areas that will bring them the highest return on investment (ROI) in the long run.
Here are the top 5 areas to focus on for the best ROI:
haminteriors.com
- The Kitchen: According to Remodeling magazine’s “2018 Cost vs. Value Report,”“A minor kitchen remodel recoups 81% of its cost in added value on average, versus 53% for an upscale kitchen remodel with stone countertops, custom cabinets and commercial-grade appliances.”At the same time, according to this article on ConsumerReports.com, a survey of millennials revealed that having a modern kitchen that’s been updated is an ideal home feature for more than a third of respondents. Luckily, a few savvy kitchen updates can go a long way—stainless steel appliances, a fresh coat of paint, new flooring, on-trend counters, and even new cabinetry hardware can give a major facelift to an aging kitchen. The article shares that sellers can expect a 3-7% bump in sale price after making these updates, which can end up being well worth the initial investment.
- Bathrooms: Bathroom remodels also offer a solid ROI. This page on HomeGuide.com offers an in-depth look at not only what you can expect to pay for a bathroom remodel (depending on how much you plan to do). The article shares that bathroom remodels can offer an average ROI of 70%, but of course this will differ depending on the renovation choices you make.When you’re considering how to remodel different aspects of your bathrooms, the shower and toilet are of the utmost importance. According to this article on ConsumerReports.com, people over 50 years old generally don’t want to have to step over a tub to take a shower, so curbless showers are a great idea. Not only are curb-less showers easier to get into and wheelchair accessible, but their design is elegant and streamlined as well.If you’re choosing a new toilet, consider picking a taller toilet that makes getting on and off easier. The Glacier Bay N2428E(sold at Home Depot for $99) is one example of a great choice—this toilet is ADA compliant and the seat is 2-4 inches taller than standard toilets.
- Paint: Whether you’re giving your kitchen or bathroom an update, paint is another factor that can give any space in your home an instant update for minimal cost. If you’re giving your home a facelift as you get ready to sell, you don’t necessarily need to repaint every square inch of your home—instead, focus on areas that get used the most, or where you can get the most bang for your buck!
Sherwin Williams Paint’s 2020 Color Forecast Palette
- Curb Appeal: You only have one opportunity to make a strong first impression, so ensuring that your home features top-notch curb appeal is essential. While you don’t have to go over the top with landscaping, your yard should be well-maintained, and you might spruce it up by painting your front door or planting some flowers. Trimming overgrown shrubs, pressure washing the sidewalk, and making minor repairs to your home’s façade can also offer big results.
- The Basics: Home buyers expect a home’s basic systems to be taken care of, so you’ll want to make sure that things like electrical, plumbing, the roof, etc. are in tiptop shape.Here are a few questions to ask yourself:
- How is the condition of your furnace, water heater, roof, electrical, plumbing, and other basic systems?Making sure that you take care of the basics and possibly upgrade systems when necessary can help alleviate worries of potential buyers.
- Are your home’s systems energy efficient?Many buyers are becoming more and more mindful of the impact that their home may have on the environment, and buyers may also be interested in energy efficient systems to save money. You might also consider getting a new water heater, installing double-paned windows, enhanced attic insulation, installing energy efficient appliances, and LED lighting as ways to capture the attention of savvy buyers.
- What condition are your floors in?Is your carpet stained? Do your hardwood floors need refinishing? New flooring can be an instant way to give your home that “like new” feel.
- Can you finish any spaces (like a basement) to add more square footage to your home?If you’ve been putting off finishing any part of your home, now might be the time to transform those spaces into usable square footage!
Every situation is a bit different, and having a second opinion from an expert in your local housing market can translate to bigger profits for you down the line. Do you have any questions about how to get the best ROI on your home remodel?REALTOR® Ferrah Seifertwould love to help—you can get in touch with her at (253) 970-7579 and send her a message here.
