Facebook
Twitter
Pinterest
Copy Link
Market Insights | July 2022
July 2022 in Stanwood and Camano Island was a time for Buyers and Sellers to recalibrate and take note of the shifting market. Expectations are changing as the market continues to normalize. Sales volume has dipped a little in our area, but prices are continuing to hold steady. Of the 68 homes sold in the Stanwood and Camano Island market in July, 50 of them, or 74%, sold at or above listing price.
.
New Listings: Camano Island had 63 new listings hit the market in July, a 19% increase over last year. Stanwood experienced a 28% decline in inventory over last July with 54 new listings compared to 75 last July. Active listings nearly doubled from a year ago. On July 31, our inventory was up 84% over this same time last year, with 144 active listings in our two zip codes.
.
Pending Sales: Stanwood and Camano Island both saw fewer pending sales compared to last year, with 83 Sellers accepting offers on their homes, compared to 106 last July (down 22%).
.
Homes Sold: There were 68 homes sold in zip codes 98282 and 98292 in July. 34 sales on Camano and 34 sales in Stanwood. This is a 19% year-over-year decrease. Despite the fewer sales, the average sale price still rose.
.
SELLERS – Market times are still in your favor. Homes are on the market in our area an average of 15 days, just 1 day longer than last year at this time. However, overpricing your home is not an option. Also, if you were reluctant to put your home on the market because you couldn’t find a home to buy, you are now in luck with the increased inventory! Remember to align yourself with a local agent to maximize your listing.
.
BUYERS – After a season of shrinking inventory, multiple offers and not being able to include contingencies like financing or inspections, you now have choices, with more new listings on the horizon. Be sure to work with a local agent and be ready when that listing you’ve been waiting for pops up.
.
At Windermere, our responsiveness to the local market, dedication to the community, and commitment to our trade is why we help our clients buy and sell more real estate in Stanwood and Camano Island than any other company.
.
We are all in, for you.
.
.
Marla Heagle
.
Windermere Real Estate Designated Broker | REALTOR®
Owner, Windermere Stanwood & Camano Island
360-387-HOME
.
Understanding the Value of Your Home: Market Value vs. Assessed Value and More
The math of a home sale is relatively straightforward. Sellers list their home at a certain price, a buyer makes an offer, and eventually the two parties reach a final, agreed-upon price. However, between these two points in the selling process, there are several other figures that go into to setting a home’s value that you should be aware of. Your real estate agent will be your best resource in interpreting the different values associated with your home and what they mean as you prepare to sell.
.
Understanding the Value of Your Home
Listed Price (Asking Price)
Also known as an asking price, the listing price of a home is the price at which a seller lists their property when it goes on the market. The listing price is a gross price, meaning the costs associated with selling the home are not included. A real estate agent’s Comparative Market Analysis (CMA) will accurately set your home’s listing price, accounting for the various factors that influence home prices including location, condition, seasonality, local market conditions, and more.
The listing price is a starting point for negotiations with buyers. You may receive an offer that matches your asking price, but it’s common for buyers to make offers at other price points. You can either accept, reject, or make a counteroffer in response until you and the buyer reach an agreement.
Whether you’re selling in a buyer’s market or a seller’s market may determine you and your agent’s approach to the listing price of your home. There may be certain pricing tactics you can employ to either drive buyer attention or increase competition, but if your home’s listing price strays too far from its market value (see below), it could stay on the market for longer than you expected.
Market Value
As a seller, you’re interested in what buyers are willing to pay for your home. By taking into account a home’s condition, size, curb appeal, and features, as well as local market conditions and what comparable homes are selling for, a home’s market value reflects the price buyers will pay for a property.
Image Source: Getty Images – Image Credit: damircudic
Appraised Value
A home’s appraised value is determined by a professional appraiser to ensure that the lender is loaning the correct amount of money for the home. Appraisers assess the home’s layout and features, square footage, gross living area (GLA), overall condition inside and out, home updates and remodels, and more. If the appraised value comes in too low or too high, the buyer and seller must renegotiate for the deal to go through. In competitive markets, buyers may include an appraisal gap guarantee in their offer, which states that the buyer will cover the difference between the price of the home and the appraised value.
Sale Price (Purchase Price)
Also known as the purchase price, your home’s sale price is what it ultimately ends up selling for. Once you and the buyer have reached an agreement on the terms of the transaction, the buyer will have the home inspected and final negotiations may occur based on the findings of the inspection. Familiarize yourself with the Common Real Estate Contingencies buyers may include in their offer and what they mean when selling your home.
Net Proceeds
So, how much do you actually make on the sale of your home? After subtracting the total costs of selling from your home’s sale price, you’ll arrive at your net proceeds. This is the amount you walk away with from the transaction.
Assessed Value
Your agent’s CMA is a reliable method of determining your home’s value for its eventual sale, but its assessed value is used for taxation purposes. Employed by local municipal or county entities, an assessor will conduct a review of your property to determine its assessed value. The assessor’s findings are passed to local tax officials, who use that number to calculate the home’s property taxes.
For answers to all your home selling questions, connect with a local, experienced Windermere agent today by clicking on the button below.
.
Written by Sandy Dodge
Should I Stage My Home Before Selling?
When selling your home, you want every advantage. Many people selling their homes today consider staging to be something that absolutely must be done. Helping potential buyers visualize what their future homes will look like makes them much more likely to buy.
.
At Windermere, we have seen that staged homes usually sell faster and for more money than homes that are not staged. Keep reading to learn more about staging, if you should do it, and how we can help.
.
What Is Home Staging?
Home staging simply means “setting the stage.” Getting your home ready for a prospective buyer makes your home more visually appealing and desirable. Home staging increases the likelihood of selling your home for several reasons. Not only does it improve your home for potential buyers viewing the property, but also can improve marketing photos and show off the best selling features of your home.
.
Home staging does not necessarily need to cost a lot of money. You can do it yourself by cleaning, repainting, or redecorating—consider putting out flowers, buying a piece of furniture, or rearranging a room. Our real estate agents can assist you by offering advice on effectively preparing your home.
.
It is very often the case, however, that homeowners don’t want to put the time and effort into doing it themselves, but they still want to guarantee that it looks great. In that case, professional staging companies have interior designers who can make your home look amazing even if you don’t have the time to put in the work yourself.
.
What Are the Pros of Staging Your Home?
According to Realtor.com, homes that are staged sell 88% faster and for 20% more, compared to non-staged properties. This article concluded that most stagers charge between $300 and $600 for an initial design consultation and between $500 and $600 per month for each staged space.
.
Choosing to stage your home can increase the likelihood that your home will sell more quickly, and if you know that you’re selling in a competitive market, it becomes all the more important.
.
Our real estate agents can advise you about whether home staging is in your best interest. We know the markets and the preferences of local buyers, so we can help you make the best decisions possible for your situation.
.
What Are the Cons of Staging Your Home?
Of course, there are usually expenses involved when you choose to stage your home. The biggest potential disadvantage is cost. Depending on the size of your house and property, professional staging can be expensive. As explained above, the reason to stage your home is that the potential benefits far outweigh the expenses. However, it is important to weigh the balance of the investment versus potential advantages to make sure you are making a well-informed choice.
.
Time may be another disadvantage of staging your home. Staging a home takes time, whether you do it yourself or hire a professional. Keep this in mind as you list your home.
.
Be sure that you’re not overlooking things that reflect your unique, personal taste rather than proven buyer preferences. Additionally, make sure you’re not focusing on the interior of your home to the detriment of the exterior. Finally, try not to stage props that don’t look natural. Our agents can assist with your staging choices to help you meet your goals.
.
How to Make the Choice
The benefits of staging your home depend on how well the staging is done. For example, if your home does not look natural and looks staged, then there may not be as much benefit to doing it. It should look like people actually live there, albeit, people that are very tidy and fashion-forward! Again, trust your agent to help you make the judgment.
.
Also, don’t think that it’s always a bad thing to have moved out before showing your house—there are no absolutes. Some people think it’s “cold” to show an empty house, but other people think viewing an empty house means it’s move-in ready.
.
Some people find it easier to visualize themselves in the home while looking at an empty space, even though the majority prefer a staged home. The fact is that staged homes statistically produce the benefits described above. However, your decision-making priority should always be the needs of your family.
.
How Windermere Can Help
Our real estate agents are experienced and helpful people who take pride in providing extraordinary service. We care about you and will take care of the details so that you don’t need to worry.
.
Please contact an experienced agent today to learn more about staging and marketing your home.
Local soap box derby racers place at world championships
Local soap box derby racers won more hardware in several events last week at the 84th All-American Soap Box Derby in Akron, Ohio.
In June, Siddle won the super stock division at the 15th annual Windermere Stanwood-Camano Soap Box Derby on Camano Island to win a return trip to the world championships. Both Siddle and Johnson also travel the country to participate in rally races to accumulating enough points that can also earn a ticket to the All-American Soap Box Derby in Ohio.
.
Contact reporter Evan Caldwell at ecaldwell@scnews.com and follow him on Twitter @Evan_SCN for updates throughout the week and on Instagram @evancaldwell.scn for more photos.
9 Summer DIY Projects
When home-project lists pile up, it can leave some homeowners feeling overwhelmed by their to-dos. One helpful strategy is to prioritize your projects by season. The following list of simple and cost-effective summer projects will help make the most of your summer at home while preparing for the seasons ahead.
.
9 Summer DIY Projects
1. Organize a Garage/Yard Sale
No summer project list would be complete without a task to sift through your home’s clutter and organize a garage or yard sale. While you’re compiling items to be sold, identify which items can be donated to declutter your home most effectively.
.
2. Upgrade Your Front Porch
Your home’s front porch can make a lasting impression. Make a statement with a boldly colored front door, look for stylish house numbers, and add classic front porch elements like a sitting bench or swing for ultimate comfort.
.
3. Fix Up Your Fence
Whether your fence needs a simple wash, a new sealant or stain, or structural repair, summer is high time to get this work done and extend the life of your fence. Power washers are a helpful tool in getting your fence clean before re-staining. Let the fence dry for one to two days before applying the stain.
.
4. Build a Firewood Shed
It’s best to prepare for winter ahead of time. In summer, conditions are perfect to build a firewood shed to keep your firewood dry throughout the fall and winter. Build a simple enclosure with an open front. This lets air pass through easily, drying the wood quickly.
.
5. Repaint Kitchen Cabinets
A fitting summer project in the kitchen, repainting your cabinets brings new life into the space without the hefty price tag of a full-scale renovation. For a complete refresh, repaint the hardware too, or replace them to match the new cabinet color. These Simple Kitchen Makeover Ideas can make a noticeable difference in the heart of your home.
.
Image Source: Getty Images – Image Credit: JulPo
.
6. Exterior Painting
Giving the outside of your home a fresh coat of paint does wonders for its curb appeal. Summer is a great time to get outside and paint, as the chances for rain are lower than other seasons. Although an exterior paint job is DIY-eligible, it can be a time-consuming task that some homeowners may not have the bandwidth to complete. If you need to hire a professional to handle the exterior repainting, consider focusing your DIY painting efforts elsewhere (trim, fencing, indoors).
.
7. Build a Fire Pit
A new fire pit may be just what your backyard needs to maximize your summer at home. Common fire pit materials include brick, stone, and cinder blocks. Outline your fire pit before you start digging. Once the hole is dug six to eight inches deep, fill in the hole with gravel until it is level with the ground. Choose your materials, fix the stones into the ground, compact them together, and enjoy nights by the fire under the stars. Check for local digging regulations and burn bans.
.
8. Install a Window Air Conditioner
Depending on your local climate, the hottest time of year is either already here or fast approaching. Install a window AC unit to enjoy the time you spend indoors comfortably. Installation is typically a two-person job, so be sure to have help ready when it comes time to install.
.
9. Insulate Your Basement/Crawl Space
Although not the most glamorous of all summer projects, taking time to insulate your basement or crawl space during summer will pay off come winter. Because it may take multiple trips to properly install the insulation, the summer weather makes for more ideal conditions to accomplish the task.
.
For more helpful info on home improvement DIY projects you can accomplish this summer, check out these 5 Design Projects to Improve Your Backyard.
.
Written By Sandy Dodge
The Importance of Photography in your Real Estate Listing
You can buy almost anything online nowadays, including homes. If you’re looking to sell or rent your property, you should make sure that your listing is as attractive as possible to catch the attention of potential buyers or renters.
.
With that said, one of the most crucial parts of a good listing is the photos you include. If you want to get people interested in a home, you need to show it in its best light and make people want to learn more! Otherwise, even a terrific house in a great location can get overlooked. Keep reading to learn more about listing photography and how to spruce up your own photo gallery.
.
Why Good Listing Photos Are a Must
Photos are powerful, and they’re one of the most important aspects of a good listing. Humans are masters of visual processing, and it makes sense that we want to see something before we buy it!
.
A 2017 study conducted by the National Association of Realtors (NAR) found that 89% of people who went online for their home search considered photos to be “very useful.” Additionally, VHT, a professional real estate photography studio, reported that a property sells up to 32% faster when a listing is accompanied by professional photos.
.
Simply put, there’s no way for someone to know if a particular property is worth viewing or bidding on if they don’t know what it looks like. A description can only go so far when there’s no image to pair it with. Of course, not all photos are created equal. The way you prepare your home, the quality of your photos, and the contents of your photos are all significant.
.
What Kinds of Photos Should You Take?
First things first—consider the equipment you use to take your photos. Using a wide-angle lens ensures that you get a complete view of the rooms and property you’re photographing. Take photos of every room in your house or apartment, and don’t forget to get differently-angled shots of the exterior and the property.
.
Even if you’re not a professional photographer, there are some things you can do to vastly improve the quality and look of your photos. Below are a few simple tips you can implement to see an improvement in your photographs.
.
Don’t Forget About the Background
When taking photos of certain rooms or spaces, be mindful of what’s in the background. For example, if you have an open floor plan and can see into multiple rooms at once, be sure that everything is staged well even if it’s not the focal point of the image.
.
This is also a chance to show off the things in the home that make it unique and can interest potential buyers, such as distinctive layouts, fireplaces, or great window placement.
.
Check Your Lights
First, make sure to clean all the lamps, chandeliers, and other sources of light throughout the home. Then, change all the bulbs and ensure that they’re all working correctly. You may also want to consider getting light bulbs with “white cool light” as this can increase the perception of brightness and make photos look more professional in many cases.
.
Make Sure All Spaces Are Clean
Nowadays, cameras are so good that they’re able to catch everything. If there’s even a small amount of dust on the shelves or smudges on the walls when the light reflects on them, it might be visible in photos. It’s time for a thorough deep-cleaning of your home!
.
You may even want to consider investing in updating your landscaping before listing, as this can make both interior and exterior photos look better and increase your home’s value.
.
Don’t Overdo It With Props
Having a great piece of art or some exquisite furniture can make any room feel more comfortable, luxurious, or unique. However, placing too many props or personal items, such as wine bottles, candles, glasses, etc., can make it feel a little too “over the top” and too staged.
.
When taking photos, your setting should usually be simple and clean—after all, you want to show off the house, and not the items in it. With that said, vases of flowers or some well-placed rugs are great examples of small props that will enhance the photo without looking like you’re trying to shoot a magazine cover.
.
Take Care of the Composition
Most photographers will tell you that taking photos from the chest level—or at a level that captures all of the components in the room—is best. You want to make sure you have a balanced photo that features just enough of the ceiling, the floor, and everything else in a particular space.
Taking photos from chest or neck level will give the same impression that someone would get from walking around the listing themselves. Of course, this is just a suggestion—the exact strategy for photo taking will depend on what room or object you’re trying to capture.
.
Final Words
If you’re currently selling your home or you’ve been considering making the big leap, Windermere is here to help. Not only do we have a wealth of resources to help you during this transition, but our agents are experienced, dedicated, and ready to assist you on your home selling journey. Connect with an agent today to get support as you make this life change!
Market Insights | June 2022
June 2022 in Stanwood and Camano Island showed signs of returning to a normal market. This shift is creating opportunities for some Buyers that we did not see in 2020 and 2021. Generally, there are more houses on the market, longer market times, steadying home prices, fewer showings, and open house attendees, fewer offers at one time, and more price adjustments.
.
New Listings: Camano Island had 65 new listings hit the market in June, a 10% increase over last year. Stanwood had close to a 50% uptick in inventory over last year with 64 new listings compared to 43 last June. Overall, 129 new listings hit the market in June in our zip codes.
.
Pending Sales: Stanwood and Camano Island were opposite in this category, with 85 Sellers accepting offers on their homes, 34 on Camano (down 33%), and 51 in Stanwood (up 13%).
.
Homes Sold: There were 76 homes sold in zip codes 98282 and 98292 in April. Camano had 37 sales, a 10% decrease from 2021. Stanwood had 39 sales, an 11% increase over last year. Average prices on the homes sold year to date have increased 21%
.
SELLERS – There is no reason to panic as we continue to move towards a balanced market. There is still a strong contingent of Buyers in our area ready to put an offer on the right house at the right price in the right condition. Financing and inspection contingencies are now the norm in most offers, but sales activity is still strong. Align yourself with a local agent to be prepared.
.
BUYERS – While we have seen an increase in inventory to two months on Camano and nearly a month and a half in Stanwood, we are still far from a balanced or buyer’s market. A balanced market is typically found between four and six months of inventory. Be sure to work with a local agent, be ready to buy, and don’t give up.
.
.
Marla Heagle
.
Windermere Real Estate Designated Broker | REALTOR®
Owner, Windermere Stanwood & Camano Island
360-387-HOME
.
How to Plant an Herb Garden
Homeowners are always seeking ways to breathe new life into the spaces in their homes. Using nature to achieve this transformation is beneficial in several ways. Planting an herb garden not only helps to make your kitchen feel fresh and sustainable, but it can make your food taste better, too. Here are some tips for getting your herb garden started.
.
How to Plant an Herb Garden
Like other indoor plants, the key to properly supporting your herb garden is to cultivate fertile growing conditions. Herbs love sun, so you’ll want to position your plants in an area where they have access to sunlight. If sunlight is hard to come by in your local climate, consider investing in a grow light. Even if space is limited, the following locations can be a fitting home for your herb garden:
.
Container Garden
Container gardens give you the flexibility to move your herbs around the house. This can be especially helpful if you get inconsistent or spotty sunlight.
.
There are various options when choosing materials for your containers. Terra cotta, plastic, and ceramic planters all have their respective advantages, but what’s most important is that you pair the herbs with a container whose size is conducive to its growth and has proper drainage holes.
.
Hanging Garden
A hanging garden is a stylish way to incorporate nature into your home. To properly set up your hanging garden, you’ll need adequate wall space. Again, prioritize access to sunlight and easy accessibility. Vertical bookshelves can make for a simple, multifunctional hanging garden, while other DIY options can help to spruce up your kitchen. Whichever route you choose, consider using lightweight materials. A mobile hanging garden can come in handy when doing chores and rearranging the house.
.
Window Box Garden
Box gardens are a fixture of landscaping and gardening design and can help to improve your home’s curb appeal. Once they’re filled with soil, plants, and water, window boxes can be much heavier than you’d expect, so sturdy woods that don’t rot easily—cedar, mahogany, redwood, etc.—are popular material choices. As always, proper drainage is important when crafting your window box garden. If you’re building your window box yourself, drill the proper drainage holes before assembly. Add a layer of landscaping fabric along the bottom to prevent soil from leaking.
.
Image Source: Getty Images – Image Credit: deniskomarov
Easy Herbs to Grow in Your Garden
After you’ve decided where you’ll set up your garden, there’s the question of which herbs to grow. The following herbs are perfectly suited for a beginner gardener’s touch and happen to be culinary staples.
- Basil: Fresh basil is a game changer. Sow basil seeds around twelve inches apart to allow them to reach their full potential. This herb will take your homemade pizzas to the next level, kick your pesto recipe up a notch, and provide the perfect garnish for countless other dishes.
- Thyme: Rich soil fused with organic matter will create ideal growing conditions for thyme. This herb loves the sun, so making sure it gets plenty of sunlight will maximize its flavor. Thyme pairs perfectly with roasted and slow-cooked dishes, adding a perfect layer of warmth and depth.
- Cilantro: Make taco night unforgettable with fresh cilantro. With enough heat, cilantro plants will grow quickly and are known to self-sow for multiple rounds. To clear up confusion, cilantro and coriander come from the same plant. “Cilantro” refers to the leaves, while “coriander” is the name for the plant’s seeds, which are often ground up when used in cooking.
- Mint: Potting mint is key to keeping it well maintained. Without a proper container, it will run wild. There are many varieties of mint, ranging from classics like spearmint and peppermint to exotic strands such as chocolate and cinnamon mint.
- Parsley: Parsley takes its sweet time to germinate, so consider buying plants rather than seeds to speed up the growing process. Countless recipes lean on the fresh taste of parsley, so you can’t go wrong dedicating a decent amount of real estate in your herb garden to it.
- Oregano: Oregano thrives in sunny conditions. To maximize growth, plant its seeds some time in spring when the soil is warm. A staple of Italian cooking, having fresh oregano in your herb garden will give your pizza and pasta recipes an extra kick.
- Chives: Known for their grass-like look, chives are closely related to onions but have their own distinct taste. Sow their seeds in spring and water regularly to keep their soil moist. Chives are a flavorful alternate for onions or scallions, while their bright green color makes them a perfect garnish for soups, salads, and sauces.
For more information on cultivating your home garden, read our Quick Guide to Urban Farming.
.
Written By Sandy Dodge
Understanding Commercial Leases
Commercial property is a property designated for business purposes rather than for personal usage or housing. Renting this type of property is a huge asset to business owners, seeing as it affords much greater flexibility than buying and can significantly reduce upfront real estate costs.
.
Being a commercial property tenant also requires the use of less capital, allowing business owners to relocate to a newer or bigger space when their lease is up, or requesting that a landlord be responsible for any essential upgrades or repairs.
.
If you’re looking for a commercial lease to accommodate your business, this article will give you all the details on everything you need to know!
.
How Do Commercial Leases Work?
Once you find the perfect space for your business, the property’s owner will ask you to sign a commercial lease agreement. This document grants you with tenants’ rights to the property and can also help the property owner manage their tenant relationship.
.
In other words, by signing this contract, you and the landlord will agree to various rules and responsibilities pertaining to the property during the period of your lease.
.
The terms and conditions in a commercial lease agreement include a number of details that are typically more complicated than those in a residential lease agreement. Some common terms outlined in a commercial lease include the cost of rent, the lease’s duration, usage rules, and improvements or repairs to the property, among other details.
.
It’s important to note that not every commercial lease will look exactly the same. This legally-binding contract is negotiable to meet the needs of individual businesses, which will ensure you get the most out of your property during the lease’s duration.
.
How Do I Find A Lease?
Finding a commercial lease can be a huge source of stress for some business owners. But luckily, you can avoid the headache and still rent out the perfect space with access to the right tools and resources!
.
Although it won’t provide 100% of the information you’ll probably need, starting your commercial lease search online can give a great perspective on average rent prices and available properties.
.
Using the internet to find commercial listings is a great way to get a head start on the leasing process. For information on local commercial listings near you, check out one of Windermere Commerical’s official websites!
.
But another, more constructive way to find a lease is by hiring a commercial real estate broker.
.
A commercial real estate broker is a person specifically trained to lease or sell commercial property, and who will be your main consultant throughout the entire leasing process. This person can help you with everything from finding a property to negotiating the commercial lease agreement — which is often something that should be left to the professionals.
.
How Will Windermere Help Me?
Whether you’re a business owner looking for brokerage services or a private investor needing property management assistance, Windermere can help with all your commercial real estate needs!
.
Choosing Windermere Commercial means tapping into a network of highly reputable brokers across the nation. Our team of dedicated professionals is deeply knowledgeable on all phases of commercial real estate and is also in the know when it comes to navigating local markets.
.
Plus, our affiliation with Windermere Real Estate gives you access to an entire pool of commercial real estate experts who are committed to helping you make your commercial real estate goals a reality.
.
Check out our website to learn more about how Windermere can help with your commercial real estate journey. Contact our local commercial real estate experts Blake Arnold and Kevin Flynn to make your real estate goals a reality!
78 kids battle on the track for soap box derby title
Bella Siddle is heading back to Akron.
Siddle won the super stock division Saturday at the 15th annual Windermere Stanwood-Camano Soap Box Derby on Camano Island to win a trip to the 84th annual All-American Soap Box Derby Race Week in Akron, Ohio, taking place July 17-23.
Contact reporter Evan Caldwell at ecaldwell@scnews.com and follow him on Twitter @Evan_SCN for updates throughout the week and on Instagram @evancaldwell.scn for more photos.
