Thursday, February 23, 2012

Mercer Island Waterfront Homes Continue Strong 2-Year Trend: Average Waterfront Real Estate Sales Up 200%

Another positive indicator for Mercer Island and Seattle area Real Estate market.  Sales of waterfront homes on Mercer Island were some of the first to come back after the doldrums of 2008 and 2009. Following an anemic year of just 11 waterfront home sales in 2009, the sales totals have nearly tripled in the past two years.
While 2011′s sales of 30 Mercer island waterfront homes was a 6.25% drop compared to the 32 sales in 2010, to say this was a disappointment would be incorrect. 2010 was a banner year for Mercer Island, considering the current economic and real estate landscape. Waterfront sales here were at standout levels compared to the greater market. The fact that waterfront home sales in 2011 continued to keep pace with the blockbuster 2010 sales is another testament to the staying power of waterfront homes values in Mercer Island.
Of the 30 waterfront homes sold in Mercer Island last year, 25 were priced over $1 million and 18 were multi-million dollar homes. The NWMLS labels homes in the center of Mercer Island on man-made lakes as “waterfront”, and these homes are the lowest-priced sales in the $800k-$900k range. Most homes that are actually on Lake Washington waterfront are priced significantly over $ 1 million.

Thursday, February 16, 2012

Preparing to put your Home on the Market

Spring is coming and the Real Estate Market is improving, it’s a great time to put your house on the market. The "to-do" list for selling a home can seem endless and it’s easy to overlook small things that can have a big impact on a potential buyer’s impression of a home.

These tips are geared towards getting your home sold faster at the highest possible price. Below, I’ve listed my ten important tips to think about when preparing to sell your home.

1. Clean and De-Clutter: No one wants to see a cluttered house. Even if you’ve only lived in your current home for a short while, it is amazing the amount of "stuff" you can accumulate. Clear away all knickknacks, unwanted books off the shelves, and get all of the kids’ toys out of sight. You want potential buyers to be able to envision their stuff in the home, so the less of yours they see, the better. Use the "One Year" Rule: if you haven’t used it in over a year, you probably don’t need it.

2. Don’t forget the Yard: Curb appeal is very important. It’s understandable that getting the inside of the house ready for showing can take up a lot of time. Your house should be welcoming, clean and attractive from the outside as well. Store yard art and make sure the lawn is mowed, the hedges are trimmed, and add a little color with flowers or shrubs.

3. A Welcoming Entry: To make guests and potential buyers feel welcome, make sure the front door area is clean and painted (if it is wood) and that all bulbs in light fixtures are working. Avoid wreaths, banners and signs that might not appeal to everyone’s taste, and instead try neutral terra cotta pots with flowers or greenery for a classic, inviting touch.

4. Arranging the Rooms: One of the things people note when they are looking at a room is the amount of space in each room. Arranging furniture so that rooms appear open with a natural flow is a great step to achieving a spacious look. According to an article about home staging on AOL Real Estate, you should use the ‘Rule of Three.’ For each room, you only need three pieces of furniture and three decorative items for staging.
http://realestate.aol.com/blog/2010/09/09/home-staging-on-a-dime/

5. Modernize: The kitchen is one of the most important room in the home. What kind of appliances do you have? Is your stove an older electric model? Are the fixtures brass? According to Realtor Magazine, modernizing dated items makes a space more appealing to buyers. Even though it might feel like a waste to sink money into new appliances or minor remodels, modernizing makes your space more competitive with other homes on the market.
http://realtormag.realtor.org/home-and-design/feature/article/2012/01/put-your-best-features-forward-simple-staging-solutions

6. De-Personalize: Maybe you’ve lived there for 15 years or raised your family under that roof—all homes have some sort of sentimental value. The sooner you can disassociate yourself with space, the easier it will be to let go. When potential buyers come in, they want to picture their family living there, not yours. Take down photos, diplomas and other items that suggest you still have emotional claim to the space.

7. Freshen the Paint: Living in a space leaves its mark. If you notice that walls are scuffed, scratched or marked up, be sure to freshen up the paint. Not only will it hide potential wear and tear such as nail holes, it will give the room a brighter appearance. If there are any walls or rooms that have been painted a bold color such as red, or bright blue, think about re-painting them neutral, as not everyone’s aesthetic likes are the same.

8. Clear the Kitchen Counters: According to the afore mentioned article in Realtor Magazine, homeowners should have no more than three appliances on their kitchen countertops. This avoids a cluttered look, and highlights the amount of workspace available to potential buyers—especially those who love to cook. If there is a counter or island, emphasize it with a plant.

9. Re-think Carpet: Hardwood floors are a sought after classic. If you still have carpet in some of your rooms, think about replacing it with hardwoods. Sometimes there is already hardwood flooring underneath carpet, and all you have to do is rip it up! If not, think about investing in hardwoods in at least one important, central space like the living room or master bedroom.

10. Don’t Hide Unique Details: If your home has an interesting feature, say distinctive architecture, unusual built-in storage or vintage fireplace, don’t try to cover up these features. Instead, present them as points of character unique to the home that will set it apart.
Obviously these are just a few of the many tips to consider when getting ready to sell your home. As a Realtor, I’ve worked closely with many clients both buying and selling homes, and seen firsthand what gets noticed, what doesn’t, and what really draws people in.