PSBJ COOL PADS
PSBJ COOL PADS
PSBJ COOL PADS
THE NEW TRIBUNE
Home price increases in the Puget Sound area have started to moderate. While down from the unsustainable highs of this spring, prices continue to be up compared to a year ago. So, where are home prices headed next?
The Home Price Expectation Survey checks in with over 100 national real estate experts every quarter, including Windermere Chief Economist Matthew Gardner. Here’s where they think prices will go:
Gardner predicts our local market will fare better than the nation overall.
“As I look to 2019, I believe home prices in King County will increase 7.8% over the current year.”
– Windermere Chief Economist Matthew Gardner
“The local economy will continue to grow and that will drive demand for ownership housing,” according to Gardner. “Supply will slow during the holiday season before we see a new influx of listings in the spring. With more supply, I believe that home price growth will continue to slow, but values will still increase.”
Whether you’re thinking of buying or selling our agents can provide you with market data that will help you make the best decision for your circumstances.
The final count on donations are in, and WOW, you are all so incredible! During the four-week winter drive for YouthCare, our Eastside offices collected donations from agents, staff, and the community, which included over 524 hats, gloves, scarves, socks, and an assortment of other accessories and cash donations. A huge thank you to all who donated to the homeless youth in our community!
With the onset of winter, Windermere offices throughout the greater Seattle area came together this month to host another “We’ve Got You Covered” winter drive for YouthCare, a nonprofit that provides critical services to homeless youth. This drive is a part of Windermere’s #TackleHomelessness campaign with the Seattle Seahawks which aims to raise money, donations, and awareness for the homeless youth crisis.
This winter, YouthCare predicts that over 1,500 young people in Seattle will call the streets home during the coldest time of the year, challenging local businesses to help however they can. So, for the third year in a row, over 30 Windermere offices came together to answer the call by collecting new hats, scarves, gloves, and warm socks.
The staff at YouthCare were grateful to receive the delivery of the bins full of donated items. According to Nicole Phaysith, Communications Specialist at YouthCare, “As the rain endures and the temperature drops, it becomes that much harder for young people to focus on the day ahead. We are so grateful for the generous donation of cold weather essentials from Windermere and the community. We’re able to offer young people respite from the cold—and one less thing to worry about on their road to stability and independence. Thank you for keeping homeless youth warm and dry so that they can plan for their future.”
We are grateful to be able to partner with Gentle Giant Moving Company again this year, who generously donated their time, muscle, and trucks to pick up and deliver all of the donated items to YouthCare.
This drive would not be possible without the support of the Seattle Seahawks, our offices, and all those who donated. From all of us at Windermere, thank you for making our Winter Drive a success and helping to support homeless youth in the greater Seattle area!
*Participating Windermere offices:
Bellevue, Bellevue Commons, Bellevue South, Bellevue West, Burien, Kirkland, Kirkland Yarrow Bay, Lynnwood, Maple Valley, Mercer Island, Mill Creek, Property Management – Bellevue, Property Management – Edmonds, Property Management – Seattle North, Property Management – South, Redmond, Seattle-Ballard, Seattle-Eastlake, Seattle-Greenwood, Seattle-Madison Park, Seattle-Magnolia, Seattle-Mount Baker, Seattle-Northgate, Seattle-Northwest, Seattle-Queen Anne, Seattle-Sand Point, Seattle-Wall Street, Seattle-Wedgwood, Seattle-West Seattle, Services Company, Shoreline, Woodinville
This post originally appeared on the Windermere Blog.
The Winter 2018 edition of Lifestyle Northwest by Windermere Real Estate featuring homes for sale in waterfront and island communities throughout Puget Sound is now available!
Read the online version or click the image below to download.
A home is the largest investment most people will make in their lifetime, so when it comes time to sell, homeowners often wonder what they can do to get the most return on their investment. Many have the misconception that remodeling is the way to go, but that isn’t always the case. Rather than going all-in on upgrading your home, you should know which home improvements are worth it, and which ones aren’t.
We’ve sifted through the research and come up with a quick list of five home improvements that’ll help buyers fall in love with your home when it comes time to sell.
1. Add a little curb appeal
Curb appeal is critical. As the name suggests, it’s the first thing buyers see when pulling up to the front of any home so it needs to be in nearly pristine condition. Start with the garage door for the most immediate return. According to Remodeling Magazine’s 2018 Cost vs. Value report and Money.com, the cost of updating your worn builder-grade garage door with an upscale steel model is about $3,470, and it’ll boost your home’s value by 98.3 percent of the installation price, which means you’ll lose about $60 when it’s all said and done.
Landscaping can also go along way for a minimal upfront investment. Six rounds of fertilizer and weed control will set you back about $330, but when it comes time to sell, you’ll see an ROI of about $1,000 according to a survey by the National Association of Realtors.
Other improvements you can easily make to your curb appeal include:
- Pressure wash the exterior
- Liven up your front door with a fresh coat of paint
- Replace hardware such as doorknobs and knockers
- Install updated house numbers
- Make your walkways pop with new greenery or flowers
- Plant a succulent garden
- Update your porch lights
- Add a little charm with window flower boxes
- Stage your porch
2. Install hardwood floors
Installing or upgrading hardwood floors is pretty failsafe as most buyers love it. Ninety-nine percent of real estate agents agree that homes with hardwood floors are easier to sell, and 90 percent of agents say that they sell for a higher sale price, according to the National Wood Flooring Association. Similarly, research from the National Association of Realtors shows that 54 percent of homebuyers are willing to shell out extra cash for homes with hardwood.
As for your return on investment, NAR’s 2017 Remodeling Impact Report projects that homes that already have hardwood floors will likely see 100 percent return. On the flip side, installing hardwood flooring pays off almost as well with a 91 percent return on investment. It can cost about $5,500 to install, and it’s projected to add about $5,000 to the home value. These estimates may vary depending on the type of flooring you install.
3. Upgrade your kitchen
According to the National Association of Realtors, real estate agents believe that complete kitchen renovations, kitchen upgrades, and bathroom renovations will add the most resale value to a home (in that order). However, complete kitchen renovations can be costly and unnecessary. In fact, kitchen remodels have some of the worst return on investment stats. Remodeling Magazine’s 2017 Cost Vs. Value report found that a mid-range kitchen remodel cost exceeds its resale value by more than $21,000, and that number more than doubles in an upscale remodel. Rather than spend a ton of cash and weeks (or months) on renovating, put a little elbow grease and a small budget into it.
Instead of doing a full renovation, focus on these smaller updates:
- Organize your pantry
- Use a little Murphy Oil Soap and hot water on all of your cabinets
- Polish cabinets with Howard Feed-In-Wax
- Tighten all hinges
- Clean grout and tiles
- Shine your sinks and hardware until you can see your face in it
- Deep clean your stove
- Give your kitchen a fresh coat of neutral paint
- Update lighting fixtures, and replace light bulbs
- Spring for a new cabinet and door hardware
- Make your countertops look new
- Upgrade your appliances
4. Go green
Today’s younger generations are embracing eco-friendly living, and millennials are leading the pack. According to the National Association of Realtors’ 2018 Home Buyer and Seller Generational Trends Report, millennials make up the largest segment of buyers, holding strong at 34 percent of all buyers.
When it comes to attracting buyers who are willing to pay top dollar, going green makes sense. A Nielson study found that, of more than 30,000 millennials surveyed,66 percent are willing to shell out more cash for conservation-conscious, sustainable products. Depending on where you live, consider installing solar panels, wind turbines, and eco-friendly water systems.
No matter where you live, attic insulation replacement and weather stripping are safe bets. Attic insulation replacement was a top home improvement upgrade last year, and homeowners saw a 107.7 percent return on the investment. Weather stripping, a fairly inexpensive DIY project, costs, on average, about $168 nationally.
5. Create a summer retreat
Homes with pools can fetch a higher selling price if done properly. There are in-ground pools and above-ground pools. To truly add value, you’d want to go with an in-ground pool. It’s a permanent investment that costs more upfront, but above-ground pools don’t really add anything to a home other than a nice personal oasis from hot weather.
Pools cost about $1,000 on average to maintain between the seasonal openings and closings, necessary upkeep and utility bills, according to Houselogic.com and financial consultant Dave Ramsey’s website. Some buyers might not be up for that cost. However, pools can help sell a home especially when you live in a higher-end neighborhood where everyone has pools and in warmer climates like Florida, Arizona or Hawaii.
Ramsey wrote that a well-marketed in-ground pool can boost a home’s value as much as 7 percent, but he stresses the importance of making sure the style of the pool matches the house and surrounding property. Be sure that any pool doesn’t completely consume the outdoor space. Pools that make sense locationally and complement the property are the best. If the pool is just an expensive eyesore, it’s probably better to remove it.
With these upgrades, your home will surely see a higher price tag when you go to sell because, as the numbers show, buyers swoon for an outdoor retreat, a like-new kitchen, classic hardwood flooring, and green upgrades.
Our guest author is Sarah Stilo, the Content Marketing Coordinator for HomeLight, which helps pair homebuyers with agents. They can be found at HomeLight.Com. This post originally appeared on the Windermere.com Blog.