#AskAnAgent Wrap-Up

On our “#AskAnAgent” Instagram Live series, radio personality and Windermere client Carla Marie goes live with our agents, answering viewer questions about how to buy and sell a home.

 

After our first three episodes with Jessica James, Ashley Abolafia, and Gervon Simon, Carla Marie sat down with the following agents to round out the #AskAnAgent conversations for 2020.

 

Episode 4: Jen BowmanWatch it here

 

The second half of our #AskAnAgent series began with an informative conversation between Carla Marie and Jen Bowman, a Windermere agent based in Lynnwood, Washington. Drawing on her experience working with mostly sellers in recent years, Bowman discussed what it’s like to work with sellers while inventory is low. On the topic of bidding wars, Jen stressed the importance of timing for sellers when they hit the market, so they know they have exposed their home to the greatest number of interested buyers. Wrapping up, Jen touched on the recent trend of buyers moving to rural areas from her perspective in Snohomish County.

 

Episode 5: Genevieve StollWatch it here

 

New Jersey natives Carla Marie and Windermere agent Genevieve Stoll continued the #AskAnAgent conversations with an instructive discussion, examining the real estate process from multiple angles. For Stoll, one of the first thing she tells her buyers looking to strengthen their offers is to speak with a reputable lender right away to get the pre-approval process started. The conversation shifted to how buyers’ needs are shifting during the pandemic and the resurgence of vacation home purchases.

 

Episode 6: Derrik ShockmanWatch it here

 

For the final #AskAnAgent episode of 2020, Carla Marie chatted with Derrik Shockman, a former business owner and agent with Windermere Abode in Tacoma, Washington. For Shockman, being an entrepreneur and real estate agent are similar in that both require staying calm through the ups and downs of the market. Derrik also shared his expert knowledge on the similarities and differences between single-family houses, townhouses, and condos, and the different needs they satisfy for buyers.

 

Follow our Instagram page (@windermere) for updates on future episodes and follow Carla Marie (@thecarlamarie) to watch all the #AskAnAgent episodes from this year.

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How to Price Your Home for Sale

It’s natural for sellers to want to get every step of the selling process right, but a successful home sale depends on an accurate listing price. Your real estate agent will work closely with you to set the price, but in the meantime, you can use  the following information to better understand what goes into this process. .

 

What factors influence home prices?

 

Understanding what factors influence home prices will give you a deeper knowledge of the market, give clarity to the selling process, and help you work toward the accurate listing price of your home.

 

Comparable home sales

Comparable home sales—or “comps”—have a major impact on the price of your home. Comps refer to the comparable homes in your area, both pending and sold, within the last six months. Your Windermere agent can provide you with a Comparative Market Analysis (CMA) to better determine the price of your home. CMAs factor in aspects, such as square footage, age, and lot size compared to other homes in your area, to determine how your home should be priced among the competition.

 

Your home’s location

Naturally, you home’s location plays a significant role in its asking price. Depending on the market conditions in your area, whether you reside in a metropolitan, suburban, or rural location, and the home’s proximity to amenities, schools, and entertainment all contribute to the price.

 

The home’s condition

If you have recently invested in upgrades or other maintenance projects for your home, they could increase your asking price. However, the price increase potential depends on the kind of renovation, its ROI, and how valuable it is to buyers in your area. If the home is in need of repair, it will likely fetch less interest than better maintained homes at your price point. Any outstanding repairs or projects looming overhead will make the home less attractive to buyers and could lead to a low appraisal.

 

Seasonality

Any factors that impact market supply and demand are worth taking into consideration when preparing to price your home, and seasonality is one that cannot be overlooked. Typically, market activity slows in the winter and picks up during the spring and summer months. However, market seasonality varies region to region. Talk to your Windermere agent about the seasonality trends in your area and how they factor into your asking price. 

 

Market conditions

Naturally, all sellers want to price their home competitively, but what a competitive price looks like depends on the market conditions, such as whether it’s a buyer’s or seller’s market. Some sellers think that pricing their home over market value means they’ll sell for more money, but the opposite is often true. Overpricing your home presents various dangers, such as sitting on the market too long, which can result in selling for well below what it’s worth.

 

What’s your home worth?

 

Nothing can replace the professional knowledge and local expertise of a real estate agent, but automated valuation models (AVMs) can be a helpful first step in determining what your home is worth. Like comps, AVMs assess your home by comparing its information with the listings in your area.

 

If you’re curious about your home’s value, Windermere offers a tool that provides a series of evaluations on your property and the surrounding market. You can find it here.

 

These are the basic tenets for understanding what goes into the price of a home. When you’re ready, we’re happy to connect you with an agent who can interpret and expand on this information, perform a CMA for your home, and be the expert in your selling journey.

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