Community February 11, 2021

Best Day Trips From Bainbridge Island

Feeling cooped up and wanting to get away? Take a day trip! You’ll feel far away yet you’ll still be able to make it home for the night. While we know there are many incredible places to explore in our area, here are a few great day trip ideas to get you started. Travel times listed below are from Bainbridge Island to the destination.

Note: Due to the unpredictability of the pandemic, please call ahead or check online to make sure you’re able to visit. Don’t forget about COVID-19 precautions

Cape Flattery – Makah Trail

 

Escape to the northwestern most point of the contiguous United States for the epic weathered bluffs and spectacular vistas of Cape Flattery.  A true seaside bluff experience!  Traverse the cliffside trails and find your perfect picnic spot.  Be sure to respect the environment and pack out all your waste; there aren’t any garbage cans along the trail.

Drive Time: 3 Hours, 20 Minutes

Hurricane Ridge Visitor Center – Olympic National Park

Hurricane Ridge Olympic National Forest

Photo by Bittina Erickson

 

Hurricane Ridge Road leads you up the peak of the majestic Olympic Mountains for epic panoramic views.  Once you get up the mountain road (be sure to drive cautiously), you’ll see the Visitor Center lodge devoted to the preservation of the park with ample parking and outdoor seating to enjoy the vista.  The best time to go is summertime, but the park is open year-round if you bring chains and plan ahead!

Drive Time: 2 Hours

Finnriver Farm & Cidery on the Way to Port Townsend

Finnriver Cidery

Photo by Finnriver

 

On your drive to the seaside town of Port Townsend (a wonderful day drip of its own), you’ll find the rustic Finnriver Farm & Cidery, serving organic farm to table cider since 2004! They also offer delicious food options like Dented Buoy‘s wood-fired pizza and they have touchless ordering and Covid protocols in place. Enjoy Finnriver’s beautiful outdoor seating area and take a walk through the orchard. From there, Port Townsend is only 20 minutes away!

Finnriver Drive Time: 40 Minutes; Port Townsend Drive Time: 1 Hour

Tree of Life (aka The Root Cave)

 

Nestled on the Kalaloch seashore sits the magnificent Tree of Life.  Despite its exposed roots, this massive undying Sitka Spruce stands strong and verdant.  If you’re feeling daring, take a walk under the Tree of Life’s root cave at low tide for a truly enchanting Washington experience.  For a longer adventure, the Kalaloch Lodge and Campground are just up the shore!

Drive Time: 3 Hours, 10 Minutes

Olympic Sculpture Park – Seattle Art Museum

 

Outdoor art abounds at the Sculpture Park on the Seattle Waterfront – just a 30-minute ferry ride away! The multiple award-winning Sculpture Park is a hallmark of the Seattle Art Museum, with nine acres of “monumental” artworks. Along with the art, the adjoining Myrtle Edwards Park provides miles of walking trails and beaches to enjoy. If you have time on your way back, there’s always something fun to do at the Seattle Waterfront.

Ferry Time: 30 Minutes

If you have another great idea for a day trip from Bainbridge Island, let us know on our Windermere Sound Living Facebook page

Learn More about Bainbridge Island

If you’re new to the area and would like to learn more about Bainbridge Island, check out our Newcomer’s Guide. In it, you’ll find videos, articles, and helpful links to learn about our neighborhoods, schools, arts and culture, local home buying resources, and more.

 

Real Estate Market January 27, 2021

Fourth Quarter Review and 2021 Forecast for Bainbridge Island

Bainbridge Island’s real estate market finished 2020 with a strong fourth quarter. We’ve compiled key stats below to provide a comprehensive review of our local market, as well as insights and a 2021 market forecast from Windermere Real Estate’s Chief Economist, Matthew Gardner.

Bainbridge market stats

Our Strong Seller’s Market

It’s still a strong seller’s market here on Bainbridge Island. Inventory remains low while demand is high. Buyers should be aware that the market is in a seasonal slowdown, but not as slow as expected, given COVID-19. There are still many buyers looking to move away from Seattle, but still remain close by; inventory remains low, giving the advantage to sellers. Our Brokers have seen an increase in situations where some buyers are outbid either by price or an all-cash offer.

In 2020’s fourth quarter, the average sale price on Bainbridge Island was up 12.9% year-over-year at a very strong $1.315M. Sale prices continue to hover close to listing prices, indicating strong demand.

Bainbridge sold homes market graph

Bainbridge avg sale price graph

2021 Market Forecast

In his final Monday with Matthew video of 2020, our Chief Economist, Matthew Gardner, shared his 2021 market forecast. He’s optimistic and for some good reasons.

First off, Gardner expects mortgage rates will not rise significantly on a local level, nor will they vary significantly throughout different regions across the U.S. Since mortgage rates are heavily tied to 10-year treasury maturity rates/yields, rates shouldn’t rise significantly until the entire market recovers from the COVID-19 slowdown. Another great sign is that Gardner expects home sales will grow, from 5.55% in 2020 to 5.93% in 2021. That’s “to a level we haven’t seen since 2006,” Gardner explains.  With the continuation of historically low mortgage rates and the consistent increase of home values, 2021 looks bright.

“No! There isn’t a housing bubble forming. But price growth will slow & sellers may feel like it’s a collapse … it isn’t collapsing, it’s just normalizing.”

Matthew reminds us that there are pitfalls to be wary of in this strong market. First and foremost: “we need more inventory.”  With the shuffling to new homes, and the huge wave of “first-time buyers [that] will continue to be a major player in the housing market,” many are making moves in a flood that will not persist. Buying during the pandemic will slowly settle. People are expected to stay in their homes longer, especially homeowners who have chosen to refinance. House values will rise due to the lack of supply, and that may price out many buyers who want to purchase in our area. 

Western Washington’s Market Report

For a big picture glance at how our local market compares, here are highlights from The Western Washington Gardner Report.

WESTERN WASHINGTON HOME SALES

  • Total Sales: 26.6% increase from Q4/2019, but 8.3% lower than Q3/2020
  • Homes for Sale: 37.3% lower than Q4/2019, and 31.2% lower than Q3/2020
  • Pending Sales: up 25% from Q4/2019, but 31% lower than Q3/2020
WESTERN WASHINGTON HOME PRICES
  • Average: $617,475 (up 17.4% from Q4/2019). This continues the trend of above-average appreciation of home values.
  • Interestingly, prices between Q3 and Q4 of 2020 only rose by 1%.  Is there a price ceiling we’re reaching?
  • Mortgage rates will stay competitive as the market continues to charge toward a price ceiling and potential affordability issues.
DAYS ON MARKET, WESTERN WASHINGTON
  • Average: 31 Days (16 days less than Q4 just one year ago)
  • In Kitsap County, average days on market: 17

Conclusion

Yes, it’s a Seller’s Market once again.  Matthew Gardner says, “I am moving the needle even further in favor of sellers.”  Here’s why: Covid-19 continues to push homeowners to stay put while renters flock to the countryside.  The resulting limited supply has “caused the region’s housing market to be incredibly active.” Matthew does warn that there may be “affordability concerns” that could prevent some homebuyers from entering the market and eventually slowing growth.
2021 will continue the trend of working from home, which keeps demand high. This, in turn, will drive sales growth, while affordability barriers will balance our current runaway appreciation for home values.
HomeHome Sellers January 27, 2021

4 Home Renovations that Return the Most at Resale

After months of working from home, you may have noticed some areas of your house that need refreshing. Well, before you spend thousands of dollars remodeling your bathroom, it might be helpful to know some of the renovations that return the most at resale. Below we have listed the West Coast’s average recoup values of four renovations that yield a high return on your investment. 

Manufactured Stone Veneer: 119.5% Cost Recouped

Also known as faux stone, manufactured stone veneer is a human-made material designed to replicate the look of natural stone. This remodeling project tops our list at an average of 119.5% recouped value at resale. Manufactured Stone Veneer is incredibly versatile. If you are looking to give your house a modern look while retaining a rustic vibe, this remodeling project is perfect. Cultured Stone has more information on Manufactured Stone Veneer projects. 

Garage Door Replacement: 117.1% Cost Recouped

We use our garage doors daily, and over the years, they are bound to have some wear and tear. Whether it’s the wood rotting, the track hardware malfunctioning, or just out of date technology, a garage door replacement is a safe investment with an average of 117.1% recouped value at resale. Most homes can benefit from a garage door replacement, but the Spruce can help you decide if you have more questions.

Entry Door Replacement: 87.9% Cost Recouped

Coming in third on our list are steel entry door replacements. Wood doors are beautiful. Unfortunately, they don’t withstand the test of time very well. Installing a new entry door made from steel will guarantee long-lasting beauty for years to come. Along with an 87.9% recoup value at resale, steel doors are a solid investment. Pella is an excellent resource if you are looking into more options on entry door replacements. 

Minor Kitchen Remodel: 77.6% Cost Recouped

Everyone loves a kitchen that looks brand new with sparkling appliances and space to cook. A minor kitchen remodel can go a long way. Simply leave cabinets where they are and replace their fronts with new shaker-style wood panels. Then add new, modern hardware. Go a step further by replacing the oven range and the refrigerator with more energy-efficient models. Replace laminate countertops and upgrade your sink and faucet to really make your kitchen shine. Finish with a fresh coat of paint and you’ll be wishing you would’ve done this years ago.

Hopefully, this list gives you the inspiration to get started. And, these suggestions are just the beginning. If a renovation you want isn’t on this list, but it’s something you’ve always dreamt of, then don’t let us stop you from making it come true. For more information, check out Remodel Magazine’s Cost vs. Value Report. If you’re thinking of selling your home, check out our home seller’s checklist.

Home January 19, 2021

Design Tips To Brighten Your Home

Gray skies and rain sum up wintertime here in the Pacific Northwest, but you can easily brighten your home to help you stay upbeat and alert. A little update can go a long way, especially for those of us still working from home. Here are some fun design tips to give your home a boost.

Let In As Much Sunlight As Possible

Nothing says bright and cheery like natural sunlight. There are various ways to optimize your home for maximum sun exposure. Closed rooms or bulky furniture are often culprits that shut out vital sources of light. Take a look around your space to see if you can move any furniture away from the windows so the light can spread more evenly throughout your home. Try leaving rooms open that face the east, west, or south so that the light can stream into other areas of the house. 

Embrace Light Colors 

Light-colored furniture, curtains, and rugs are excellent ways to add more light to your home. The colors can complement the natural sunlight that is already illuminating the room. Just make sure not to overdo it with soft colors. Otherwise, you’ll end up washing out that room. Consider adding a pop of color with a beautiful new wall hanging or with some throw pillows from a wonderful local shop like Conservatory Coastal Home. This will balance out the colors in the space and give that room a fresh new look. 

Purchase Daylight Lightbulbs

Natural sunlight is cool compared to the usual warm-colored light bulbs that we have in our houses. Replacing some of the lightbulbs, perhaps where your workspaces is, can provide a refreshing touch. Most lightbulb packaging will state if it mimics daylight. If not, anything between 3,500K – 5,000K light bulbs are a safe bet. 

Use Ambient Light

We all have corners in our house that just aren’t at the right angle to be lit up with anything. Pay attention to those dark spots and find ways to add a little bit of light. This can make a room feel more spacious and welcoming. Even a strategically placed lamp can open up an otherwise dusky corner. If you’re looking for a few new light fixtures, Furnish Bainbridge has some great options.

Add Greenery

Picking up some plants at your nearest nursery will add dimension and provide a vibrant, natural feeling to your living and work spaces. Not everyone has a green thumb, so some beginner-friendly plants to look into buying are Golden Pothos Vines, Spider plants, and Snake plants. If you are still unsure, the lovely staff at Bainbridge Gardens and Bay Hay and Feed can help you find the best plants to suit your needs. 

 

Community January 14, 2021

New Agent Spotlight: Ashley Mathews

We’re excited to highlight our new Broker, Ashley Mathews. Highly involved in our community, Ashley is passionate about helping people. She has a background in marketing and a range of industry experiences. Read on to find out more!

What unique professional skills do you possess that enhance your abilities as a realtor?

I started working at my mom’s travel agency at around 12 years old, which taught me organization in a transactional industry. After stints as a realtor in the fast-paced New York City market, I moved on to the marketing side of the business. I am a marketer at heart and bring the combination of my marketing expertise to my transactional knowledge of real estate, which benefits my clients.

What drew you to real estate?

Real estate has been the backdrop to my life for as long as I can remember. I love the ever-changing landscape, market conditions, and being able to impact someone’s life in such a monumental way.

How long have you lived here and what brought you here?

I have lived on Bainbridge Island for 12 years. I moved here from New York City after meeting a man from Bainbridge Island. He is now my husband of ten years.

Ashley Mathews Bainbridge Broker and husband

What personality traits do you think are important in this profession?

I think it’s important to be a good listener, have the ability to roll with the punches, have a good sense of humor, and possess dedication and integrity.

What area do you serve and what do you love about it?

I serve Bainbridge Island and have a great deal of first-hand knowledge of Bainbridge’s unique neighborhoods, having lived in downtown Winslow, Fletcher Bay, the Sand Spit, and Pleasant Beach. I love its beauty and the fact that it can be whatever one desires. Sometimes I enjoy its quiet serenity. Other times, I want to enjoy one of our award-winning restaurants. There is something here for everyone.

What made you decide to work with Windermere?

My passion for service has always made me a fan of the Windermere Foundation and its work. The Windermere Brokers on Bainbridge Island have such a great reputation and I wanted to be on their team. Blue is also my favorite color.

How are you involved in the community?

I serve as a board member for the Bainbridge Island Museum of Art, and I serve as Planning Commissioner for the City of Bainbridge Island. Additionally, I serve as the Chair of the Board Development Committee for Treehouse For Kids and sit on its Board of Directors Executive Committee. For over a decade, I’ve been involved in Bainbridge Island’s vibrant equestrian community and am a member of the Bainbridge Island Saddle Club. I love the arts and have performed with the Bainbridge Chorale and on the Bainbridge Performing Arts stage in “Chicago” and “Cats”. I am also a lifetime member of the NAACP.

Is there anything else you’d like to share with us?

I have a 19-year-old daughter who inspires me every day as she navigates our new normal as a college freshman, as well as a beautiful and not so smart Doberman named Grace and a beautiful and very smart horse named Nektonia. I love to meet new Islanders so if you see me come say hi. Human connection is so important these days.

We’re so glad that Ashley Mathews has joined us. We know her local expertise and her integrity make her an excellent choice for buyers and sellers. You can connect with her on Facebook or through her website

Home BuyersHome Sellers January 6, 2021

Home Sale Contingent Offer – Pros and Cons

There are a lot of specific terms used in real estate, and you may wonder what a home sale contingent offer is. Who does it affect and what are the advantages and disadvantages? We’re here to provide you with the information you need.

A Home Sale Contingent Offer

Offers typically come with contingencies such as a home inspection but an offer that is specifically dependent on the sale of another property is a home sale contingent offerIf there’s a home sale contingent offer, the MLS (Multiple Listings Service) will list the property as contingent. So if someone else writes up a better offer then that one is “bumpable” by someone else.

Types of Home Sale Contingencies 

There are two types of home sale contingencies. One is a contingent offer and one is a pending sale contingency, which would say the other property is already under contract.

Suppose the potential homebuyer has not obtained or agreed to an offer on their own house. In that case, they may submit a home sale contingent offer. Through this contingency, the buyer effectively has “first dibs” on the house. The seller can include a “bump” clause to continue to show the property to other potential buyers. If the seller receives an offer, the first buyer has a specified amount of time to decide whether they want to move on with their contract. 

If the potential homebuyer has acquired an offer and has a closing date set, they may include a pending sale contingency. Since a home is not officially “sold” until closing occurs, this protects the potential homebuyer if the deal falls through. If the house is sold, then the contract is still valid. If the deal falls through, so does the homebuyer’s offer. 

Earnest money or good faith money may also be given to a seller when a buyer includes a contingency clause. This money represents the buyer’s good faith to continue with the purchase if the outlined conditions are met. Similar to a deposit, the earnest money is typically held in an escrow account until closing and then it is applied to the down payment and closing costs. 

Pros and Cons of a Home Sale Contingent Offer

There are many things for the seller to consider when accepting a home sale contingent offer. If you are selling your home, you should note that there is no guarantee that the buyer’s home will sell. So it is essential to specify a timeframe for the buyer to sell their property.

On the other hand, if your property has been on the market for a while, then a home sale contingent offer may be a good option. To protect yourself as a seller, you can include a “bump” clause in the contract to obtain some leverage in the sale. You would state a specified amount of time after receiving another offer for the first buyer to decide whether they want to pursue the contract. If the buyer still wants to continue, they must remove the contingency clause to resume the contract. If the buyer does not respond in the specified amount of time, you can back out of the contract and sell to the new party. 

Pros and Cons of Buying a Home with a Contingent Offer

If you are looking to buy, you might also be a home seller at the same time. If this is the case, it is crucial to understand both sides. As a buyer, a home sale contingent offer allows you to smoothly transition between houses. However, a home sale contingent offer comes with risk. You’re essentially asking the home seller to hold the house for you and risk not being able to sell their home if you’re unable to sell yours. And, when you’re looking to buy in a popular place like Bainbridge Island, multiple offer situations are common. So you’re competing with many eager buyers. Other buyers may be able to buy the home you want without having to sell their current home. Additionally, some may be willing to waive other contingencies in order to win a multiple offer situation. This does not mean that you need to do that too if that makes you uncomfortable. But it is important to consider contingencies carefully.

Bottom Line

As you can see, there are different ways to look at a home sale contingent offer. It all comes down to the offer made on the property, any time constraint on the seller to close, and the seller’s preferences. A knowledgeable, local real estate agent, will advise you, advocate on your behalf, and guide you through the process.

Home SellersReal Estate Market December 14, 2020

Selling in Winter: 4 Reasons Why It’s a Good Time to Sell

Selling in winter may not seem optimal but there are actually some important advantages to consider, especially given our current market. Here are four reasons why now may be the right time for you to sell.

1. Demand is High and Supply is Low

There are many anxious buyers who want to move to our area. Western Washington has seen a significant increase in demand. Here on Bainbridge Island, closed sales were up 43.6% year-over-year in 2020’s third quarter. Multiple offer situations have become common and our agents have seen quite an increase in all-cash offers. Additionally, many families are able to work remotely and they’re drawn to all Bainbridge Island offers.

2. Mortgage Rates Have Hit Historic Lows

During 2020, mortgage rates hit all-time lows a dozen times. As of December 3, 2020, rates on a 30-year and 15-year fixed-rate mortgage (FRM) have dropped to 2.7% and 2.3%, respectively. These low-interest rates incentivize serious buyers and create a sense of urgency for many.

3. Home Prices Are Up

Since inventory is low, prices have gone up. In fact, the median sale price was 1049K in 2020’s third quarter, which was up 19.9% year-over-year. So you could potentially sell your house for top dollar. If you’ve properly prepared your home and your agent is marketing it effectively, you could also experience a multiple offer situation.

4. Many Buyers’ Priorities Have Shifted

With the pandemic, many buyers are focusing more on finding homes that offer space: a backyard, proximity to nature, and room for their children to play and/or a home office. Bainbridge offers all of that as well as gorgeous beaches and hiking trails, a strong sense of community and easy access to the city. This appeals to first-time buyers as well as those looking for luxury homes. So even though it’s not the popular time to put your home on the market, it’s still a strong seller’s market and there are still plenty of serious buyers ready to make an offer on the right property.

CommunityHome December 14, 2020

Start the New Year Off Right With These Fun Activities

Each new year brings hope and the chance to start fresh. Here are some activities to help you feel rejuvenated and more connected to this incredible place we call home.

New Year, New View

We all get caught up in our daily lives and sometimes we take this gorgeous area for granted. Grab your coat and visit a trail you haven’t been to in months or ever. There are many great trails here on Bainbridge like Grand Forest, which is made up of 240 acres with approximately eight miles of trails. Kitsap Peninsula offers many wonderful places to enjoy. Another peaceful spot is Point No Point Park and Lighthouse in Hansville. There’s a short nature trail, a beautiful beach, and the oldest lighthouse on Puget Sound. While you’re taking it all in, try to remember what it felt like to experience this place for the first time. Or, if you grew up here, remember the joy of sharing this place with a visitor. Tapping into that can help you see your surroundings with fresh eyes.

Unplug For One Day

If your routine involves a lot of time in front of a computer or on your phone, take a day to fully unplug. Turn off all of your electronics. Yes, even your phone. It can be challenging yet rewarding. Play a board game with your family, write good ol’ fashioned letters or thank you cards, bake cookies for a neighbor. You may be surprised how often you automatically reach for your phone. In just one day, you can see where you really are on the usage spectrum. And, you may decide you want to limit your screen time as a new year’s resolution. Even if you are fine with how much time you spend in front of screens, a day off from electronics can help you appreciate them more.

Share Your Love of Books, New and Old

Whether you’re a voracious reader or have fond childhood memories of reading some of the classics, start the new year off by sharing your love of books. Donate a few of your books to your nearest Little Free Library so that others can enjoy them. If there isn’t a Little Free Library near you, start your own! Either way, it’s a great way to connect with neighbors, friends, and family over beloved books.

After you add to or start your own Little Free Library, you’ll have the perfect excuse to visit your local bookstore. After all, you’ll have gaps on your bookshelf that you’ll need to fill. You can find an array of excellent books at Eagle Harbor Book Co. here on Bainbridge Island and Poulsbo’s Liberty Bay Books.

If you never seem to have the time to sit down with a good book, try downloading a free app called Libby. You can borrow audiobooks by connecting the app to your Kitsap Regional Library card. It’s user-friendly and offers tons of bestsellers and classics for free.

Create a Gratitude Jar

Want a simple yet meaningful activity that gets the whole family involved? Get a large jar and decorate it with the word “gratitude” on it or purchase a gratitude jar like this one. Every week, your family members can put little notes in it, describing what you’re thankful for and memorable moments. To establish this new habit, pick a day that you’ll each add one note to the jar, like on Sundays after dinner. That way, it quickly becomes part of your routine. Also, make sure your gratitude jar is in a prominent place so anyone can jot down a note whenever they want. At the end of the year, you’ll get to go through all of these little notes together. It’s an easy way to regularly practice gratitude and an enjoyable way to reflect on the year’s highlights.

We wish you a happy, healthy 2021!

Community December 9, 2020

Patti Shannon: Real Estate Expert & Soon-to-be Retiree!

Patti Shannon has helped hundreds of families buy and sell homes, and she’s been a tremendous asset to our Windermere Bainbridge team. She’s now ready to retire, so we wanted to celebrate her incredible career and share some of her valuable insights. We recently connected with her and we love what she had to say about how this industry has changed, her advice to those who are new to the business, memorable moments, and much more.

What drew you to this career?

I was drawn to Sales & Marketing at an early age. As a teenager, I had a part-time job creating monthly newsletters for a car dealership and was feature editor of my high school newspaper. I sold Girl Scout cookies and greeting cards door to door. After earning my bachelor’s degree in Speech-Communication, I went to real estate school in St. Louis and got a Missouri real estate license; but I had no way to finance the launch of that career. Instead, I worked as an administrative assistant at an ad agency, which led to a 20-year career in radio advertising sales and radio audience research sales. After moving from St. Louis to Dallas to Seattle, I was able to start my real estate practice on Bainbridge Island. I am so glad I waited, or I’d probably still be living in Missouri!

How has the industry changed since you became a Realtor 19 years ago?

The biggest change is the amount of information homebuyers and sellers can access about properties on their own. Many consumers think that means they don’t need the help of Realtors as much. One of my favorite sayings is “you don’t know what you don’t know.”  Agents do this work every single day. We take classes on everything from septic systems and wells to NWMLS contract language to negotiations. We also gain knowledge doing transactions and talking with other agents. We network with other agents to find off-market properties for Buyers.

Local Agents have invaluable background knowledge of properties through years on the job; on the island where the same property might sell 3 times in 15 years, being savvy enough to ask, “I wonder if they solved the drainage issue,” makes a difference. We spend months guiding Sellers in the most cost-effective things to do to make their houses market-ready. Good Realtors are worth their weight in gold. I get a kick out of people who tell me, “I’d like to be a Realtor. I love looking at houses.” We do so much more than that!  People are shocked when I tell them that less than 10% of the job is looking at houses.

What will you miss the most?

Talking about real estate with clients, friends, and colleagues. Future conversations will not be the same because I won’t be dedicating time daily to stay on top of things.

What will you miss the least?

The changing schedule. It is essential to be available to clients when needed and that often means canceling personal plans or stopping in the middle of dinner to connect with someone I’ve been trying to reach all day. I am looking forward to building a daily and weekly routine.

When you think about all of the families you’ve helped over the years, are there any particular stories that really impacted you?

I will never forget my first in-person offer presentation. Representing a buyer client, I scheduled a meeting with co-listing Windermere agents Bill Hunt and Mark Wilson. I was working for a different company at the time, did not know them well, and was nervous. They were professional, kind, and sensitive to my jitters. They set a great example of how to treat other agents and I hope our wonderful community of hard-working professional Realtors feels that I lived up to their example.

Second, I am humbled and grateful to the many clients I’ve worked with who invited me multiple times to help them buy and sell real estate. That means so much to me!  For example, years ago I helped 3 related families move to the island, coming from various parts of the country. Last year, I worked with a client on a second and third transaction and had the pleasure of assisting her daughter with her first home purchase. That was very gratifying.

Do you have any advice for those who are just starting out in this business?

1) Join a company that provides excellent support in terms of training and tools, and sets a high standard for integrity. I find Windermere outstanding on all counts.

2) Get a great mentor or two. I’ve had some wonderful ones, including my dear, departed friend, Carolyn Frame, who pushed me to set monthly sales goals, then reviewed them with me periodically.

3) Partner with other Realtors some of the time. It can be fun and a great learning experience. Find someone who works similarly so you can feel comfortable having them cover for you during vacations and days off. Be sure to schedule “down time” or you will burn out.

You’ve been involved in the community for decades, volunteering with Rotary for 19 years and serving for 7 years as the Chair/Co-Chair of the fundraising committee for Cedars Unitarian Universalist Church. What do you enjoy most about your volunteer work?

I like giving back to the community in a meaningful way. Rotary International is an amazing, world-wide organization and our club on Bainbridge Island is extremely active locally as well as internationally. Being Rotary Auction Chair in 2009 was a fabulous experience because I was able to interact with and get to know many people who have been volunteering for years and years, and also learn how they manage their unique subsets of that phenomenal event.

The reason I serve on the Fundraising Committee at Cedars is that I’ve never met a kinder group of people in my life. I’m blown away by the friendliness, openness, caring, and love that I see displayed through these individuals, both to visitors and members. Perpetuating and growing the church by donating and doing fundraising activities is important to me so that church services continue (now via YouTube), educating and empowering each of us to walk our own spiritual paths, aided by the 7 Principles, moral guidelines held by the UU faith.

What are you most excited to do once you’re officially retired?

Play! Kayak, paddleboard, golf, establish a yoga practice, fish more with Doug. I have always wanted to learn to play guitar, so I plan to pursue that.

Is there anything else you’d like to share? 

I would love to see young, self-motivated people with an aptitude for teaching and communicating to be presented with a career in real estate sales as an option. It is a fascinating profession, ever-changing, rewarding in so many ways, and I never dreaded going to work in the morning. 

Thank you for sharing your journey and wisdom with us, Patti! We wish you all the best!

Home BuyersHome Sellers December 3, 2020

Everything You Need to Know about Title Insurance

Title insurance is a policy that protects you from potential problems when acquiring real estate. When you buy real estate, you’re also buying all of the assets and liabilities associated with that property. So title insurance protects you from any past title problems. Some of these problems can include forgery, fraud, liens, and prior mistakes in legal documents

Types Of Title Insurance

There are two main types of title insurance: lender’s title insurance and owner’s title insurance. Most lenders require the borrower (homebuyer) to purchase a lender’s title insurance policy, which protects the lender. It is important to note that a lender’s policy will not cover the homebuyer from any problems with the title. To protect yourself, consider purchasing owner’s title insurance.

Owner’s title insurance will protect you, the homebuyer, from any aforementioned issues. A title search examines public records and legal documents to confirm the legal ownership of a property before a transaction takes place. It is usually performed by an attorney or a title company. Although this procedure will often identify any title issues or mistakes, sometimes mishaps occur. These mistakes can be costly down the road, so buyers often purchase title insurance to protect them and their mortgage lender from financial loss if there’s a problem with the title after the sale.  

Common Claims

Some common claims filed against a title are back taxes and liens. Liens are a right to keep possession of property belonging to another person until a person’s debt is cleared. It is rare for title companies to miss a lien, but if that does happen, it can cause quite a legal headache for the homeowner. Title insurance can protect from any issues that arise due to uncleared liens. 

A typical title insurance policy covers the following hazards:

  • Ownership by a party other than the one who sold it to you
  • Incorrect signatures on documents as well as forgery or fraud
  • Mistakes in legal papers and inheritance

This type of policy also ensures that there aren’t any outstanding liens for the property. Unlike traditional insurance policies that protect you from future events, title insurance protects you from past events that may not have come up during the purchase of the property.

Title Insurance in Washington State

In Washington state, the owner’s title insurance policy is usually optional and not required by law. You can choose to buy a policy that will cover the full price that you paid for the property.  The Office of the Insurance Commissioner has more information about the process of purchasing title insurance in Washington state. 

It is important to note that the only time it is possible to secure the owner’s title insurance is at closing. You will not be able to purchase a policy if you discover an ownership issue after you’ve bought the property and ownership has been transferred to you.

Bottom Line

Having title insurance protects both the buyer and seller from potential risks that can lead to a considerable amount of stress down the road. It’s important to talk to your real estate agent about these details. They should be able to guide you through the process and provide additional insight. Our local Windermere agents are also here to answer any questions you may have.