Market Insights | June 2020
Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information.
Subscribe to Market Insights here!
June 2020 Market Insights
Market Insights | May 2020
Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information.
Subscribe to Market Insights here!
May 2020 Market Insights
Market Insights | April 2020
Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information.
Subscribe to Market Insights here!
April 2020 Market Insights
As we continue to adapt to our new normal, I wanted to take this opportunity to share some of the trends we’re seeing in Stanwood and Camano Island real estate.
Let’s start with April’s stats! The local market took a hit but wasn’t knocked out – the number of new listings, pending sales, and closed sales decreased but prices increased an average of 17 percent. We also had higher rates of engagement on our virtual home tours, which shows that buyers, sellers, and Realtors® are adopting new tools to keep moving forward through COVID-19.
Looking ahead, some of the lasting effects of COVID-19 might include:
- More businesses that choose to operate remotely, which could mean more people living in suburban areas like Stanwood and Camano Island rather than large cities
- Streamlined real estate processes with the help of digital tools for contracts, notaries, and even home tours
- A shift in what buyers are looking for, like more spacious homes or more outdoor living spaces
As always, we are here to help you navigate these changes and trends! Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, contact us! We look forward to continuing to serve you!
Market Insights | March 2020
Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information.
Subscribe to Market Insights here!
March 2020 Market Insights
The COVID-19 pandemic continues to shape our lives and our economy, but we will continue to work tirelessly to help our clients move their lives forward during these uncertain times. Our homes are more important than ever before – providing tangible value while the stock market fluctuates, and acting now as our shelters, schools, offices, gyms, and more as we all take steps to curb the spread of COVID-19.
A quick look at the numbers shows that market conditions still seemed to favor sellers in March, which is common this time of year with limited supply and high demand. Pending sales decreased as expected but average sales prices are up over last year in both Stanwood and Camano Island. We’re also adapting our business practices to keep our clients and our team members safe at this time. According to the Governor’s order, real estate brokers are able to take new listings and send contracts electronically, and arrange for appraisals and inspections to be conducted as needed. Realtors® are also allowed to show listings with strictly limited group sizes, and we’ll continue to implement best practices to keep all parties safe.
Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, please contact us! We look forward to continuing to serve you!
Market Insights | February 2020
Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information.
Subscribe to Market Insights here!
February 2020 Market Insights
Is it time to downsize?
Image Source: Shutterstock
Choosing less space often has to do with a desire to live a life that’s simpler. Whether you’re retiring, want an eco-friendly, low-maintenance lifestyle or your children have moved away, downsizing might be the best option for you. Here are the advantages and disadvantages to consider before making the move and questions to begin asking yourself now.
Advantages
- Increased cash flow.
- Spend less on your mortgage payment and you are likely to have more money leftover for other needs or desires.
- More time.
- Cut down on time spent on household chores such as cleaning and vacuuming which will leave you with more hours in the day to do something more enjoyable.
- Lower utility bills.
- Costs less to heat and air condition a small home.
- Less square footage decreases the amount of energy expended.
- Reducing energy is better for the environment and it helps keep your home green.
- Reduced consumption.
- You would likely buy less since you won’t necessarily have the room for it.
- Minimized stress.
- Homeowners who have successfully downsized often feel happier because they are no longer overwhelmed by the demands of a larger home.
- Less responsibility, less housework to do, increased cash flow and flexibility equals reduced stress.
Disadvantages
- Fewer belongings.
- Moving into a smaller space would mean you would need to give away or donate furniture, books, kitchen supplies, etc.
- No room for guests.
- Hosting holiday dinners might be out of the question for a smaller home.
- Space restrictions.
- Less space means you could feel cramped.
- Lifestyle changes.
- For long-term homeowners, downsizing means changing a lifestyle.
What to consider before downsizing
These questions are important to ask yourself because for some people, downsizing may not be the best option for them.
- Does size matter to me?
- Think about how much your identity is wrapped in your house.
- Is it important for you to have a guest room or a second bathroom?
- Will I miss some important things about a more spacious home?
- Will moving into a smaller home feel like a step backward?
- How will other life events affect my living in a smaller home?
- Consider possible scenarios you may not expect such as adult children moving back home or if you plan to add a child.
The Cost to You
- How much will it cost to replace the furniture?
- When you move into a smaller home this means you might have to downsize your furniture to make room.
- How much will it cost to get rid of the stuff I don’t need or won’t fit?
- It’s important to have a plan for how you’re going to sell or give away the things you don’t need.
- Consider things like family heirlooms. What are you going to do with all your antiques or treasures that your smaller home may not be able to accommodate?
- How much will I get when I sell my current home, and will it help cover the cost of buying my new home?
If you know downsizing is the right option for you, you’re probably asking yourself, “Should I sell first and then buy or buy first and then sell?”. When you’re ready to discuss your options, talk to an experienced Real Estate Agent.
This post originally appeared on Windermere.com
Market Insights | January 2020
Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information.
Subscribe to Market Insights here!
January 2020 Market Insights
Broker’s Perspective – Love it or List it?
Windermere Stanwood-Camano Real Estate Brokers are deeply connected to the issues that face local home-buyers and sellers. In this series of blogs, The Broker’s Perspective, Windermere Stanwood-Camano Brokers provide insight into current Real Estate market trends and topics.
This week we take a look at the popular topic of “Should I move or remodel?” Nancy McClure, a broker from our Camano Island office gives us her perspective on this hot topic.
Original Windermere blog; Should I Move Or Remodel?
Windermere Broker Nancy McClure gives us her perspective –
Windermere Broker, Nancy McClure
What are the most important factors to consider when trying to make the decision to move or remodel?
Most decisions with Real Estate ultimately come down to decisions based on Cost or Location. If you are located in Seattle and accept a job in Spokane, most likely you will move instead of remodeling, basing the decision on your location.
If you love the neighborhood you live in, but would like an updated home, remodeling or moving is generally considered based upon the cost.
If you are looking at remodeling with the intent to move, the remodeling decisions are usually based upon remodeling costs vs. possible returns.
What home renovation projects deliver the best return on investment?
Paint! Something this small can make a big difference and does not cost a ton. When you start tearing things apart and renovating large parts of the home, it can be challenging to recoup your investment dollar for dollar. However, this is probably not the case with a “fixer – upper” that is purchased at a lower price point. Fixer upper homes generally have more flexibility on larger renovation projects based on the fact that these homes are purchased with the intent to remodel and sell. In the case of a fixer-upper, here are a few things that can add good value to the home,
Remodeling the kitchen and bathroom – Kitchen remodels can change the entire feel of a home. If the kitchen is outdated there is a good chance the bathroom is too!
Adding a bedroom – This can be done by finishing basements and attics or putting a closet in a spare room and can definitely raise the value of the home.
Replacing doors and windows, installing new heating or cooling systems – Energy efficient homes are in demand.
Adding a deck or putting on a new roof – These are just a sample of some exterior projects that will give you an immediately improved look and a higher home value.
Other projects that may add value include replacing siding, adding a garage or carport, repairing front porch, landscaping and resurfacing the driveway.
Could your renovations possibly decrease the sale price of your home?
It sure could. When making the decision to remodel with the intent to sell the home it is important to choose timeless, classic details. Choosing a color that is not popular, or a layout that is not functional could definitely be detrimental. Contractors, Interior Designers, and Real Estate professionals can help you with the most sought after details in homes today.
Do we have good resources in our local Stanwood – Camano area such as custom builders, licensed contractors, and interior designers?
We do. Both of the Windermere offices have information on local resources. Also, our brokers are deeply connected to the community, so many have personal connections with contractors, builders and much more. Stop by and we’ll give you a referral, or two!
Any parting tips you may want to leave us with?
If you end up selling, don’t forget curb appeal! Homes that have great curb appeal tend to sell quicker and generally for a better price.
Remodeling a home isn’t quite as easy as HGTV makes it look! Start with a good support network, know when to hire a professional, do your research and don’t forget to ask your contractors for references before hiring them! And then go have some fun!
Market Stats February 2019
Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Market Stats are provided courtesy of Marla Heagle.
February 2019 Stanwood – Camano Area Market Stats
If you have any questions about our local statistics, please contact our office and we will put you in touch with an experienced professional broker from one our offices.
Terry’s Corner office 360-387-4663
Stanwood office 360-629-8233
View Full Stats – Camano Island View Full Stats – Stanwood
To read in-depth statistics from January 2019, click on the links below.
View Full Stats – Camano Island View Full Stats – Stanwood
Matthew Gardner’s Real Estate Forecast for 2019
Year End Market Stats 2018 and MSI
Should I Move or Remodel?
There are a number of things that can trigger the decision to remodel or move to a new home. Perhaps you have outgrown your current space, you might be tired of struggling with ancient plumbing or wiring systems, or maybe your home just feels out of date. The question is: Should you stay or should you go? Choosing whether to remodel or move involves looking at a number of factors. Here are some things to consider when making your decision.
Five reasons to move:
1. Your current location just isn’t working.
Unruly neighbors, a miserable commute, or a less-than-desirable school district—these are factors you cannot change. If your current location is detracting from your overall quality of life, it’s time to consider moving. If you’re just ready for a change, that’s a good reason, too. Some people are simply tired of their old homes and want to move on.
2. Your home is already one of the nicest in the neighborhood.
Regardless of the improvements you might make, location largely limits the amount of money you can get for your home when you sell. A general rule of thumb for remodeling is to make sure that you don’t over-improve your home for the neighborhood. If your property is already the most valuable house on the block, additional upgrades usually won’t pay off in return on investment at selling time.
3. There is a good chance you will move soon anyway.
If your likelihood of moving in the next two years is high, remodeling probably isn’t your best choice. There’s no reason to go through the hassle and expense of remodeling and not be able to enjoy it. It may be better to move now to get the house you want.
4. You need to make too many improvements to meet your needs.
This is particularly an issue with growing families. What was cozy for a young couple may be totally inadequate when you add small children. Increasing the space to make your home workable may cost more than moving to another house. In addition, lot size, building codes, and neighborhood covenants may restrict what you can do. Once you’ve outlined the remodeling upgrades that you’d like, a real estate agent can help you determine what kind of home you could buy for the same investment.
5. You don’t like remodeling.
Remodeling is disruptive. It may be the inconvenience of loosing the use of a bathroom for a week, or it can mean moving out altogether for a couple of months. Remodeling also requires making a lot of decisions. You have to be able to visualize new walls and floor plans, decide how large you want windows to be, and where to situate doors. Then there is choosing from hundreds of flooring, countertop, and fixture options. Some people love this. If you’re not one of them, it is probably easier to buy a house that has the features you want already in place.
Five reasons to remodel:
1. You love your neighborhood.
You can walk to the park, you have lots of close friends nearby, and the guy at the espresso stand knows you by name. There are features of a neighborhood, whether it’s tree-lined streets or annual community celebrations, that you just can’t re-create somewhere else. If you love where you live, that’s a good reason to stay.
2. You like your current home’s floor plan.
The general layout of your home either works for you or it doesn’t. If you enjoy the configuration and overall feeling of your current home, there’s a good chance it can be turned into a dream home. The combination of special features you really value, such as morning sun or a special view, may be hard to replicate in a new home.
3. You’ve got a great yard.
Yards in older neighborhoods often have features you cannot find in newer developments, including large lots, mature trees, and established landscaping. Even if you find a new home with a large lot, it takes considerable time and expense to create a fully landscaped yard.
4. You can get exactly the home you want.
Remodeling allows you to create a home tailored exactly to your lifestyle. You have control over the look and feel of everything, from the color of the walls to the finish on the cabinets. Consider also that most people who buy a new home spend up to 30 percent of the value of their new house fixing it up the way they want.
5. It may make better financial sense.
In some cases, remodeling might be cheaper than selling. A contractor can give you an estimate of what it would cost to make the improvements you’re considering. A real estate agent can give you prices of comparable homes with those same features. But remember that while remodeling projects add to the value of your home, most don’t fully recover their costs when you sell.
Remodel or move checklist:
Here are some questions to ask when deciding whether to move or remodel.
1. How much money can you afford to spend?
2. How long do you plan to live in your current home?
3. How do you feel about your current location?
4. Do you like the general floor plan of your current house?
5. Will the remodeling you’re considering offer a good return on investment?
6. Can you get more house for the money in another location that you like?
7. Are you willing to live in your house during a remodeling project?
8. If not, do you have the resources to live elsewhere while you’re remodeling?
If you have questions about whether remodeling or selling is a wise investment, or are looking for an agent in your area, we have professionals that can help you. Contact us today!
