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7 Steps to Yard Sale Success
Yard sale season has arrived! Many people shy away from the idea of having a yard sale, but do you truly need that broken-down accordion or the 80’s-styled prom dress? A yard sale is a great way to get out with the old and make room for the new. Here are some tips to help make your yard sale a success…
1. If you haven’t used it in more than a year you most likely won’t use it in the next year. Sell it.
2. Get the community involved. Contact your neighbors and coordinate having one large neighborhood sale on the same day. This will give consumers a greater incentive to come.
- Helpful Hint: Have each participating household pitch in a few bucks for directional signs or an advertisement in the local paper.
3. Get your whole family involved. Set up a lemonade stand or have a small bake sale for your kids to run.
4. Promote yourself through your favorite social networking site … for free.
- Create a Facebook event page and invite all your friends
- Tweet about it. Create a fun Twitter hashtag and offer a prize to those who Tweet about your sale.
- Get on Instagram. Whatever old knick-knacks you may uncover are sure to be a hit for somebody, and creating a storyline for your many time-worn giveaways can add to the appeal and interest.
5. Offer an incentive. Give away a free grab-bag to your tenth customer.
6. Price slightly higher than you’re willing to sell that way, there is room for negotiation.
7. After your sale is over, do not, I repeat, DO NOT put the leftovers back in your house, garage, or storage. Immediately donate them to your local thrift store, so there is no chance of procrastination or keeping things you do not need.
We would love to hear your tips when it comes to yard sale success!
Western Washington Real Estate Market Update
The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Agent.
ECONOMIC OVERVIEW
The Washington State economy added 83,900 new jobs over the past 12 months, representing an annual growth rate of 2.5%. This is a slowdown from the last quarter, but employment growth remains well above the national rate of 1.6%. Employment gains continue to be robust in the private sector, which was up by 2.8%. The public sector (government) grew by a more modest 1.1%.
The strongest growth sectors were Retail Trade and Construction, which both rose by 4.8%. Significant growth was also seen in the Education & Health Services and Information sectors, which rose by 3.9% and 3.4%, respectively.
The State’s unemployment rate was 4.7%, down from 4.8% a year ago. Washington State will continue adding jobs for the balance of the year and I anticipate total job growth for 2018 will be around 80,000, representing a total employment growth rate of 2.4%.
HOME SALES ACTIVITY
- There were 23,209 home sales during the second quarter of 2018. This is a drop of 2.3% compared to the same period a year ago
- Clallam County saw sales rise the fastest relative to the same period a year ago, with an increase of 12.6%. Jefferson County also saw significant gains in sales at 11.1%.
- The number of homes for sale last quarter was down by a nominal 0.3% when compared to the second quarter of 2017, but up by 66% when compared to the first quarter of this year. Much has been mentioned regarding the growth in listings, but it was not region-wide. King County saw a massive 31.7% increase in inventory, though all but three of the other counties covered in this report saw the number of listings drop compared to a year ago.
- The takeaway from this data is that while some counties are seeing growth in listings — which will translate into sales down the road — the market is still out of balance.
HOME PRICES
- As inventory is still fairly scarce, growth in home prices continues to trend well above the long-term average. Prices in Western Washington rose 12.2% over last year to $526,398.
- Home prices continue to trend higher across Western Washington, but the pace of growth has started to slow. This should please would-be buyers. The spring market came late but inventory growth in the expensive King County market will give buyers more choices and likely lead to a slowing down of price growth as bidding wars continue to taper.
- When compared to the same period a year ago, price growth was strongest in Mason County, which was up 17.4%. Eleven other counties experienced double-digit price growth.
- Mortgage rates, which had been rising significantly since the start of the year, have leveled off over the past month. I believe rising rates are likely the reason that inventory levels are rising, as would-be sellers believe that this could be the right time to cash out. That said, the slowing in rate increases has led buyers to believe that rates will not jump soon, which gives them a little more breathing room. I do not expect to see any possible slowdown in demand until mortgage rates breach the 5% mark.
DAYS ON MARKET
- The average number of days it took to sell a home dropped by seven days compared to the same quarter of 2017.
- King County continues to be the tightest market in Western Washington, with homes taking an average of only 13 days to sell. Every county in the region other than Clallam saw the length of time it took to sell a home drop when compared to the same period a year ago.
- Across the entire region, it took an average of 41 days to sell a home in the second quarter of this year. This is down from 48 days in the second quarter of 2017 and down by 20 days when compared to the first quarter of 2018.
- Across the entire region, it took an average of 41 days to sell a home in the second quarter of this year. This is down from 48 days in the second quarter of 2017 and down by 20 days when compared to the first quarter of 2018.
CONCLUSIONS
This speedometer reflects the state of the region’s
real estate market using housing inventory, price
gains, home sales, interest rates, and larger economic factors. For the second quarter of 2018, I have moved the needle very slightly towards buyers, but it remains firmly a seller’s market. This shift is a function of price growth tapering very slightly, as well as the expectation that we should see more homes come on the market as we move through the balance of the year.
Mr. Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.
How Will the Real Estate Market Respond to Rising Interest Rates?
4 Ways to Make Smart Tech Upgrades to Your Garage
When it comes to upgrading your home with the latest technology, your garage is likely to be the last thing on your radar. But as electric vehicles and even self-driving cars are hitting the road across the country, real estate listings are touting smart garages in high-tech cities like Palo Alto, California and Austin, Texas. Not to mention the simple fact that garage tech can boost security and convenience for your home, no matter what kind of car you drive. Here, we outline four of the simplest things you can do to make your garage smarter.
1. Learn about internet-connected devices you can install in your garage.
There are all kinds of benefits to installing internet-connected systems in and around your garage — from opening and closing your garage door remotely, to using cameras to monitor your garage, to checking up on your car from anywhere in the world. How’s that for convenience?
These internet-connected devices don’t have to be complicated, either. In fact, they’re designed for your ease of use. You can find smart add-ons for your existing garage door opener, or if you want to go all out (and potentially obtain additional security and other features), you can purchase a brand new, high-tech garage door system with all the bells and whistles.
2. Install motion-sensor lights and security cameras near your garage and other entryways.
Since most thieves like to do their dirty work in the dark, motion-sensor lights can be an effective deterrent to a garage break-in. And if you have security cameras installed too, the police may be able to better identify the perps — if anything ever does happen.
Plus, these easy upgrades can add major market value to your home if you’re looking to put it on the market in the future.
3. Think about the future.
You may still be driving a gas-powered car, but plug-in electric and hybrid vehicles are becoming increasingly attractive and affordable to modern car-buyers — especially as states like Texas are offering rebate programs for vehicle replacements to EVs. If you think there’s a chance that you could make the switch in the near future, it’s a good idea to get your garage ready by installing an appropriate outlet or 240-volt battery charger. Many cities and states (including Texas) also offer assistance to help drivers purchase and install a charging station at home. You could also enjoy reduced utility charges, depending on where you live.
Keep in mind that driverless cars will be a common sight in American garages too, as lawmakers are clearing the way for the new technology in Austin and Arlington. Experts have suggested that this shift will transform the real estate market, including the size and functionality of garages.
4. Make sure your homeowners’ insurance is up to snuff.
It’s pretty obvious that your garage door is one of the more exposed areas of your home —when it comes to potential intruders, but also when it comes to bad weather. If a covered incident like a windstorm, fire, break-in, or vandalism occurs, standard homeowners insurance has your back.
Just be sure to purchase enough insurance coverage to completely rebuild your home from the ground up in case catastrophe happens, since your policy will only pay out the maximum limits you choose. The last thing you want after a disaster strikes is extra bills to pay just to get your home back in working order.
Return on Investment
Going all out with brand new, high-tech garage devices is admittedly an investment up front. But when it comes to peace of mind knowing your home and your family are safe, a smart garage could be worth every dime — not to mention the fact that it could boost your resale value in an increasingly connected world.
Haden Kirkpatrick is the director of marketing strategy and innovation at Esurance, where he is responsible for initiatives related to product and service innovation. He is constantly thinking about technology changes impacting the insurance industry, and following innovation taking place in high-tech hot spots such as Palo Alto, California and Austin, Texas.
What’s Happening in the Market
The local real estate market looks like it might finally be showing signs of softening, with inventory up and sales down. More sellers have opted to put their homes on the market. Inventory was up 47 percent in King County and price increases were in the single digits. Despite the increase in inventory and slowdown in sales, it’s still a solid seller’s market. Over half the properties purchased in June sold for more than list price.
Eastside
>>>Click image to view full report.
A booming economy offered little price relief for buyers looking on the Eastside. In a recent study of economic strength by state, Washington ranked number one in the country. An additional report targeting cities ranks the Seattle-Bellevue-Tacoma market as the nation’s fourth strongest economy. The median price of a single-family home on the Eastside rose 10 percent over a year ago to $977,759 setting another record. There is some good news for buyers. Inventory rose to its highest level in three years, with the number of homes for sale increasing 46 percent from the same time last year.
King County
>>>Click image to view full report.
The number of homes on the market in King County soared 47 percent from a year ago, the biggest increase since the housing bubble burst. Despite the increase, there is just over one month of available inventory, far short of the four to six months that is considered a balanced market. The median price of a single-family home increased 9 percent over last June to $715,000. That’s down 2 percent from the $726,275 median in May. Home prices haven’t dropped from May to June in King County since the last recession.
Seattle
>>>Click image to view full report.
Seattle trails only Bay Area cities when it comes to greatest profits for home sellers. That may help explain the surge in inventory in June. For example, the number of homes for sale in the popular Ballard/Green Lake area doubled from a year ago. Even though buyers are finally getting more choices, demand still exceeds supply. Homes sell faster in Seattle than in any other U.S. real estate market. That demand propelled the median price of a single-family home to $812,500; up 8 percent over last June and down from the record $830,000 set in May.
Snohomish County
>>>Click image to view full report.
The largest jump in home prices in the region came in Snohomish County. While higher-priced markets in King County are seeing increases slowing slightly, the median price of a single-family home here jumped 14 percent to $511,500, a new high for the county. Buyers willing to “keep driving until they can afford it” are finding Snohomish County an appealing destination.
Introducing the NEW Windermere.com
Around the halls of Windermere, we’ve decided that 2018 is the year to hit #refresh; it started with the launch of the refreshed Windermere brand earlier this year and today it continues with the unveiling of our refreshed website! The new Windermere.com is a result of a lot of research and input from our agents, franchise owners – and most importantly – consumers. As you can probably tell, we couldn’t be more excited! Let’s dig in.
Where we innovated:
Through the research process we discovered that over 85 percent of all traffic on our website occurs on our home page, search results, and property detail pages. This made it fairly easy for us to figure out what we wanted to focus on with the refresh. Plus, we heard from our regular site visitors that they felt those were the areas that needed the most improvement. Done, done, and done.
A much happier homepage:
We started with a total redesign of the Windermere.com homepage, which now better reflects the updated Windermere brand that we invested so much energy into earlier this year. The homepage is also now “location-aware” which means it will display listings that are geographically located closest to you. Because if you’re in Fort Collins, Colorado, you probably don’t want to be looking at listings in the suburbs of Boise. Catch our drift?
Mobile site, fast as lightning:
Next on the list to fix was our mobile site. We threw the proverbial baby out with the bathwater and started from scratch. The result is an ultra-fast, highly-optimized mobile site that we think might even offer a better user experience than our desktop site (although it’s next to impossible to pick which is better; please don’t make us do it).
Sexy search results:
OK, you probably wouldn’t normally describe search results as sexy, but it’s arguably one of the most important pages on our website, so we spent a lot of time here. What you see in your search results, and how those results are presented, has a major impact on your home search experience. We completely revamped how search results show up, as well as what you see when you click through to see a specific home. Is it the greatest search makeover of all time? Possibly.
Major eye candy:
As we all know, photos and videos are the beginning and end of everything these days, so we’ve placed even greater emphasis on those stunning images on our new property detail pages. We’ve also made it super easy for you to share listings that you love with your friends via social media, email, etc. because #sharingiscaring.
That’s it, go check it out:
Without further ado, we cordially invite you to check out our brand new website for yourselves by going to Windermere.com. If you’re someone who regularly uses our site, we hope you love it. If you’re someone who doesn’t typically use our site to search for homes, we hope you’ll give us a shot. If you feel like it’s completely on point, please let us know by emailing friend@windermere.com. If you don’t, we’d still love to hear from you! After all, any feedback is good feedback – but please, play nice.
Happy home searching!
What Happened in the Market Last Month?
May 2018’s Median closed sales price saw a 14% increase from $754k to $856k.
Last month brought some long-awaited, positive news for buyers with May posting the most new listings in over a decade. Despite the uptick in inventory, most homes are selling in less than a month. Prices haven’t been impacted either, with the majority of the region continuing to experience double-digit home price increases.
The median home price on the Eastside hit an all-time high of $960, 000 in May; a 10 percent gain over the same time last year. While there were a third more homes for sale in May than a year ago, the area still had only about a month of available inventory. Three to six months is considered a balanced market. Redmond, a city with a population of 64,000, currently has only 51 single-family homes on the market.
- Buyers can be a little more picky, more listings are coming, but they still are going to have to be aggressive with their offers.
- 58% sold for over list price and 83.4% sold in less than 15 days. However these are the properties that sold.
- 82% sold in 15 days or less.
- Sellers may want to be cautious about pushing their asking price.
King & Snohomish County Market Stats – April 2018
April 2018 active inventory rose 25% from March 31 2018 and 17% from April 2017.
Historically listings taken and active listings at the end of the month grow from April through July. In addition the majority of the year’s appreciation occurs in the first six months.
What does this mean:
- Buyers can be a little more picky, more listings are coming, but they still are going to have to be aggressive with their offers
- 62% sold for over list price and 83.4% sold in less than 15 days. However these are the properties that sold.
- April 2018 active inventory rose 25% from March 31 2018 and 17% from April 2017.
- Sellers may want to be cautious about pushing their asking price.
Community Service Day 2018 – Windermere Bellevue Commons
Windermere Community Service Day – June 8th, 2018
Every year since 1984, Windermere managers, brokers and staff have dedicated a day of work to complete neighborhood improvement projects as part of Windermere’s Community Service Day. Creating vibrant communities is one of the things that inspire all of us at Windermere as it gives us an opportunity to give back to the communities where we live and work. After all, real estate is rooted in our communities. And an investment in our neighborhoods gives us all a better place to call home.
This year Windermere Community Service Day is on June 8th, 2018. On this day, our brokers and staff at Bellevue Commons will be doing a variety of projects at Little Bit Therapeutic Riding Center; we’ve been volunteering at this great organization for the past 18 years. We will be cleaning, gardening and painting to help out this awesome group of people.
Last year we helped Little Bit get ready for their auction, whacked the weeds, and washed windows, and planted new plants. The brokers also washed the horses’ paddock fencing and arena fencing.
Volunteering at Little Bit – June 2017
Little Bit Therapeutic Riding Center improves the bodies, minds, and spirits of children and adults with disabilities through equine-assisted therapies and activities, and to be an inspiration and educational resource to the therapeutic riding profession, both regionally and nationally.
Watch this video to learn more about Little Bit.
Seattle Humane | MISSION IMPAWSIBLE
Are you ready to go “Over The Edge”?
We are teaming up with Seattle Humane as they are looking for a cast of “Stuntpeople” to take on the challenge to raise money for the animals, with a thrilling goal of rappelling down a 40 story building!
Seattle Humane casting agents are looking for serious fundraisers with a wild streak! Each Stuntperson is required to raise $2,500 to be able to go “Over The Edge.” The cast and crew will be on set July 22 at the 1000 2nd Ave building in downtown Seattle to capture all the action as our brave participants descend one of the tallest buildings ever used for this event!
When: July 22, 2018
Where: 1000 2nd Ave building in downtown Seattle
Questions?
Seattle Humane will probably have answers! Give the Events Department a call at 425-373-5388 or drop them a line at events@seattlehumane.org
