Friday, October 18, 2019 / by Jennifer Gilbertz
Ok, you have decided that selling your home might be in the near future and as an intelligent home seller in Spokane, WA, you are wanting to have as much information at your disposal to make an educated decision. One thing that is more than likely on your mind is, “How long will it take to sell my home in today’s real estate market?”. This is a very important question because first of all you will need to know where you will be moving to next, how much time you need to prepare, and when will you need to start packing up your belongings.
In our current Spokane County real estate market, we are still holding strong in a top seller’s market. This means as a seller we have a very limited supply of homes for sale in our area versus how many ready, able, and willing buyers there are for these homes. Even though we are going into our winter months here in Spokane, the real estate market is holding strong and homes continue to sel ...
Wednesday, October 16, 2019 / by Katrina Miller
What is a Seller's Market?
Real estate markets are always fluctuating. Is it in your favor? As of lately, Spokane's market for the past six plus months has been a seller's market. As of right now, we have about 1.2 months of inventory on the market, and staying steady. To have a more balanced market, we would need to have around 5-6 months of inventory. A seller’s market occurs when demand exceeds supply, or there are more buyers seeking to purchase homes than there are available homes on the market.
When demand exceeds supply, seller's price their homes accordingly, and usually at a higher price point. Seller's have the advantage. More buyer's offer non-contingent contracts and pay closing costs so that when they are in a multiple offer situation their offer looks more attractive to the seller's. Keep in mind that since the interest rates are low, it allows buyer's to qualify for homes that might be in a higher price point than they are used to getting qual ...
Tuesday, June 11, 2019 / by Dixie Simon
After all of the preparation required to list your home, you are probably ready to relax and wait for offers to roll in. While most of the heavy lifting is completed, it is important to keep in mind things that you may run into during the sale process. As you begin to allow and welcome potential buyers into your home, here are a few things to expect now that your home is listed!
1. You might feel like you live in a museum.
You may have spent a great deal of time cleaning and decluttering, but now you are going to need to maintain that cleanliness. Potential buyers are going to expect a home that was as neat as the listing photos they saw, so it is crucial to meet their expectations. Now that you have officially listed your home, maintenance is necessary. There may be showings where you don't have time to do a full deep-clean, so choosing to keep your home 'show-ready' will help reduce any stress about the appearance of your home for a showing.
2. There will be so ...
Sunday, May 26, 2019 / by Connie Tracy
You have been searching for a home for months and finally got an offer accepted and then....the house doesn't appraise for the negotiated price.
TAKE A DEEP BREATH
It can be heart wrenching for the buyer and seller if the deal falls apart because of the appraisal. Low appraisals happen more often than you might think, especially in rising markets.
Sometimes there are not enough comparable sales applicable to the home you want, or maybe distressed sales have conflicted with the appraisal.
Generally, lenders will only lend funds up to a certain percentage of the appraised value. If the appraisal is lower than your offer, you may need to come up with more cash.. but there are other options.
1. Look over the appraisal contingency in your contract.
The appraisal contingency clause built into the contract allows you to reevaluate the situation or renegotiate if needed. But sometimes, even with this clause, you may end up spending more or j ...
Friday, April 26, 2019 / by Pamela Glende
So, you’ve gone through the process of selling your home. All contingencies have been satisfied and the appraisal has been completed and your listing agent let’s you know that “we are clear to close”. Relief is what you are feeling, then your agent tells you the buyer needs to do their final walk through before signing for the home. The stress returns. It really doesn’t need to be stressful.
Here are some tips that will help you to be prepared:
1. Make sure that you have completed all agreed upon repairs. Supply any receipts for work completed to your agent so she can get them to the buyer’s agent. During the final walk through the buyer will be checking that all agreed upon repairs have been completed. You have until 3 days before closing to complete these repairs. Make sure that if a licensed contractor was supposed to do the work, that you did indeed use a licensed contractor. Other repairs that didn’t s ...