43% of King County Real Estate Transactions Involve Multiple Offers

Multiple offers are no longer the exception in the King County housing market. My most recent listing garnered 29 offers from buyers- 29! I was able to efficiently guide my clients through this process due to my 18 years of real estate experience in the greater Seattle area.  

Having an experienced real estate broker representing you is imperative in a multiple offer situation, for both buyers and sellers. Windermere Real Estate brokers work diligently for their clients, and those representing buyers 19% more likely to win transactions involving multiple offers. Also, local brokers are more confident in completing a transaction with a broker from Windermere than they are with any other real estate company.

Do you have questions about navigating our fast paced real estate market? Email me at andrewj@windermere.com – or give me a call at 206-650-4939 – so we can set up a time to go out for coffee and discuss your questions. 

 2015 Multiple Offer Market Share Growth


Posted on March 11, 2016 at 5:59 am
Andrew Jackson | Posted in Home Seller, Seattle Real Estate | Tagged , , ,

Home Sellers – Professional Photography Is A MUST!

photographer-424623_960_720One of the most important tools I bring to the table as a listing agent is professional photography. I schedule a photo session with a real estate photographer for every home I list. Today’s curb appeal is digital, and if you don’t have quality photos of a home online then it will be difficult to get buyers through the door. Professional photography is key to creating the necessary curb appeal that will lead to a timely sale of your home.   

There’s work to be done before I can schedule the photo shoot, so I can present your home in its best light. Another tool I’ve gained from my 18 years in real estate is the ability to help sellers get their home ready to be professionally photographed.  Realtor Magazine published a helpful article that outlines 5 things that need to be done to achieve the best quality photos of a home you can, and these 5 items are so important. They are all part of what I do to help your home be ready to say “Cheese!”

  1. To get the best photos you need quality equipment and editing software, aka hire a pro photographer!
  2. Your knickknacks are not photogenic. In real estate photography, less is more.
  3. Dirt really shows in photos. Really, it does.
  4. The weather a few days before the photo session is just as important as the day of.
  5. Those little details do count – do a final sweep through the house before the photo session.

Click here to read the whole Realtor Magazine article. 


Posted on March 2, 2016 at 6:38 am
Andrew Jackson | Posted in Home Seller | Tagged , ,

2016 Remodel Cost Versus Value Report

2016 Remodel Cost Versus Value Report

Did you know that some home improvement projects can pay for themselves, or even earn you a profit when it’s time to sell? According to the Remodeling 2016 Cost vs. Value Report for Seattle (www.costvsvalue.com) certain upgrades may increase your home’s resale value by more than what they cost. 

As home prices rise across the nation, average payback on remodeling projects is up too. “We’ve seen a steady ramping up on both the sales and construction side,” said Jonathan Diehart, director of custom services and published research at Metrostudy. “I think over time that really starts to loosen up prices a bit and allows some of these [remodeling] factors to become more significant as part of the price.”  The biggest year-over-year gains in return were seen for more expensive and complicated "upscale" remodeling projects.

While this information provides a fun insight into which projects might be worth your while, it's important to note that these are just overall estimates–your return on investment will vary substantially depending on your unique home and neighborhood.

Seattle's 10 Best Projects

Seattle's 10 Worst Projects

 

Return on Investment in Seattle


In Seattle, the top 10 most profitable remodeling projects were:

  • Attic Insulation (Fiberglass)
    Cost: $1,249
    Resale Value: $1,877
    Cost Recouped: 150.3% 
     
  • Manufactured Stone Veneer
    Cost: $7,631
    Resale Value: $10,897
    Cost Recouped: 142.8% 
     
  • Garage Door Replacement (Upscale)
    Cost: $3,175
    Resale Value: $4,503
    Cost Recouped: 141.8%
     
  • Garage Door Replacement (Mid-Range)
    Cost: $1,783
    Resale Value: $2,440
    Cost Recouped: 136.9% 
     
  • Entry Door Replacement (Steel)
    Cost: $1,400
    Resale Value: $1,790
    Cost Recouped: 127.9%
     
  • Siding Replacement (Fiber Cement)
    Cost: $16,196
    Resale Value: $18,826
    Cost Recouped: 116.2% 
     
  • Window Replacement (Vinyl)
    Cost: $15,308
    Resale Value: $17,417
    Cost Recouped: 113.8%
     
  • Siding Replacement (Engineered)
    Cost: $15,396
    Resale Value: $17,237
    Cost Recouped: 112.0%
     
  • Deck Addition (Wood, Mid-Range)
    Cost: $12,145
    Resale Value: $12,985
    Cost Recouped: 106.9
     
  • Minor Kitchen Remodel
    Cost: $21,889
    Resale Value: $22,833
    Cost Recouped: 104.3%
     


While all still higher than the national average recoup of 64.4%, these were Seattle's 10 least profitable remodeling projects:

  • Bathroom Addition (Upscale)
    Cost: $86,087
    Resale Value: $60,206
    Cost Recouped: 69.9% 
     
  • Bathroom Addition (Mid-Range)
    Cost: $47,572
    Resale Value: $34,457
    Cost Recouped: 72.4%
     
  • Deck Addition (Composite, Upscale)
    Cost: $41,140
    Resale Value: $29,972
    Cost Recouped: 72.9% 
     
  • Backup Power Generator
    Cost: $13,842
    Resale Value: $10,403
    Cost Recouped: 75.2% 
     
  • Master Suite Addition (Upscale)
    Cost: $262,073
    Resale Value: $197,515
    Cost Recouped: 75.4%
     
  • Major Kitchen Remodel (Upscale)
    Cost: $125,781
    Resale Value: $103,889
    Cost Recouped: 82.6% 
     
  • Major Kitchen Remodel (Mid-Range)
    Cost: $64,981
    Resale Value: $53,778
    Cost Recouped: 82.8%
     
  • Master Suite Addition (Mid-Range)
    Cost: $126,972
    Resale Value: $106,000
    Cost Recouped: 83.5%
     
  • Bathroom Remodel (Upscale)
    Cost: $61,383
    Resale Value: $52,432
    Cost Recouped: 85.4%
     
  • Two-Story Addition
    Cost: $180,558
    Resale Value: $154,472
    Cost Recouped: 85.6%

 

Cost vs. Value data © 2016 Hanley Wood Media Inc. Complete data from the Remodeling 2016 Cost vs. Value Report can be downloaded for free at www.costvsvalue.com


Posted on February 23, 2016 at 7:45 pm
Andrew Jackson | Posted in Seattle Real Estate | Tagged , ,

Matthew Gardner’s Western Washington Real Estate Market Update

I know many of you are wondering why we have seen such an increase in housing cost and lack of inventory.  Well just take a few minutes to read Matthew's report.  Western Washington continues to grow in the job sector especially in the tech markets.

 

The Washington State economy has added almost 370,000 jobs since the lowest point of the recession at the start of 2010. Additionally, total employment is 176,000 jobs higher than seen at the 2008 peak. 

The Bellevue and Seattle Metropolitan areas are showing a average market time of 31 day.  While this average includes all of king county, in many markets within King County market time is less than 7 days.  Many of the homes that sell within 7 days are because the Sellers and Listing Brokers have determined to wait 7 days prior to reviewing offers. 

To read the report in its entirety click here

 

 


Posted on February 23, 2016 at 7:06 pm
Andrew Jackson | Posted in Seattle Real Estate | Tagged , , ,