Why You Should Stage Your Home in a Seller’s Market
We have a strong seller’s market, which means it’s an excellent time to sell your home. Inventory remains low and there are many anxious buyers wanting to move out of crowded cities to a beautiful place like Bainbridge Island. In our third quarter, our closed sales were up by 46% year-over-year. But just because our market (or any market) is doing well doesn’t mean you should casually list your home and expect to experience an incredible multiple offer situation. Some sellers are asking our agents this question: “Why do I need to stage my house if the market is so hot?” Our answer: It may be the best way to yield the outcome you want. Here are some key facts and figures for you to consider.
Proper Preparation Still Matters
If you have a good agent, you’ll know how important it is to take the time to make sure your home is ready to put on the market. Even though our market is strong with many success stories, there are still some houses that are sitting on the market for longer than others. Sometimes it’s because they were priced too high or they didn’t take the time to prepare. Most buyers right now don’t want a fixer-upper, in part because of the pandemic. They don’t want to have to deal with workers in their house. So, carefully prepare your home and utilize your agent’s local knowledge, resources, and expertise.
Think Like a Buyer
First impressions are everything and photos are usually buyers’ first glimpse of your property. In fact, 95% of people search for homes online. So, you want to grab their attention with beautiful visuals. In a recent report by the NAR (National Association of Realtors), buyers rated photos as the most important element in their home search process. They rated it higher than the description of the home and higher than the location.
Now, you may think a photographer can simply take photos of your home as it is. However, if your home is cluttered or filled with various personal touches (as most of our homes are), it can be difficult for buyers to imagine themselves living there. Expert stagers can draw people in and provide just the right amount of detail. The research supports this as well. According to the NAR, 83% of buyers’ agents said staging made it easier for buyers to see themselves living in the home they were viewing.
The Potential Return on Your Investment
According to last year’s NAR report, sellers’ agents stated that when staging a home, 39% saw an increase in the dollar value of the home, anywhere from one to ten percent. Additionally, 28% of sellers’ agents saw a decrease in time on the market for staged homes. So if you stage your home using local experts, it could greatly benefit you, especially when you think of how this information applies to our current, local market. Serious buyers are out there but you want to make sure you’re putting your best foot forward in order to achieve success.
Bainbridge Island’s Market: Third Quarter Review and Forecast
Bainbridge Island’s market had an incredibly strong third quarter. We’ve compiled key stats below to provide a comprehensive review of our market, as well as insights and predictions from Windermere Real Estate’s Chief Economist, Matthew Gardner.
Our Strong Seller’s Market
It’s a hot seller’s market here on Bainbridge Island. Inventory remains low and demand is still high. In our third quarter, closed sales were up 43.6% year-over-year. Buyers should be aware that multiple offer situations are very common. Our Brokers have seen a significant increase in all-cash offers. In September alone (when the market typically starts to cool down), 37% of all Bainbridge Island residential sales were from all-cash buyers.
Market Predictions
Although mortgage rates remain historically low and demand is high, our Chief Economist, Matthew Gardner, has some concerns about how this may impact real estate down the road. “We may be heading towards a period where we see houses turn over at a far slower pace as we stay in our homes for longer than ever…this could be a problem as it leads to persistently low levels of inventory for sale, which itself could lead to prices continuing to rise at above-average rates and that would further hit affordability.” As for mortgage rates, Gardner does not expect them to rise significantly any time soon. However, he says, “We should all be aware that there could be consequences to very low rates”.
Western Washington Review
Let’s zoom out a bit and look at our area. Below are highlights from The Western Washington Gardner Report provided by Windermere Real Estate’s Chief Economist, Matthew Gardner.
WESTERN WASHINGTON HOME SALES
- Total Sales: 11.6% increase from Q3/2019, and 45.9% higher than Q2/2020
- Homes for Sale: 41.7% lower than Q3/2019, but up 1.6% from Q2/2020
- Pending Sales: up 29% from Q2/2020
WESTERN WASHINGTON HOME PRICES
- Average: $611,793 (up 17.1% from Q3/2019). Low mortgage rates and limited inventory are clearly pushing prices up.
- Prices will continue to increase as long as mortgage rates and inventory levels stay low. If this continues to be the case, affordability issues will become more apparent in many markets.
DAYS ON MARKET, WESTERN WASHINGTON
- Average: 36 days (an average of 4 fewer days than in Q2/2020 and 2 fewer days than in Q3/2019)
- Kitsap County’s average days on market: 20
Conclusion
In Gardner’s Western Washington Report, he states that, although we have a strong seller’s market that is very buoyant, he’s “starting to see affordability issues increase in many areas—not just in the central Puget Sound region—and this is concerning. Perhaps the winter will act to cool the market, but something is telling me we shouldn’t count on it.”
Windermere Partners with Seahawks again to Tackle Homelessness
We are honored to be the “Official Real Estate Company of the Seattle Seahawks.” All of us at Windermere are proud to kick off our fifth season partnering with the Seahawks to #TackleHomelessness.
Our Tackle Homelessness Campaign
For every defensive tackle made at a Seahawks home game this season, Windermere will donate $100 to Mary’s Place. Mary’s Place provides safe, inclusive shelter and services that support women, children, and families on their journey out of homelessness. This cherished, essential organization has served the homeless community of greater Seattle since 1999.
With the Seahawks’ defensive efforts last year, Windermere donated $30,000 to Mary’s Place. This brought our grand total to $128,200 raised over the past four seasons! We look forward to raising even more this year.
The History of Our Foundation
Our partnership with Mary’s Place aligns with the mission of the Windermere Foundation: to support low-income and homeless families in the communities we serve. Please visit this link if you wish to donate directly to Mary’s Place and their imperative work.
Since 1989, the Windermere Foundation has been raising funds for those in need. A portion of the proceeds from every home purchased or sold using a Windermere agent supports low-income and homeless families in our communities. In 2019, we reached a new milestone by raising nearly $3 million, bringing the grand total to over $40 million in donations raised over the past 31 years.
We are excited to continue our partnership with the Seattle Seahawks and you can follow our progress this season on our social media pages. Follow us on Facebook, Instagram, Twitter, and LinkedIn for updates. Go Hawks!
Join Windermere in Supporting Bainbridge Island Businesses
Now, more than ever, Windermere Bainbridge fiercely supports our beloved Bainbridge Island businesses – and we’re asking you to join us. We’re all experiencing some of the most challenging, unprecedented changes to what we know as normal life. We are grateful for a resilient real estate market on our beautiful island. But our hearts and actions support our vital, local-business culture. It’s a large part of what makes our island so unique, and it needs support from all of us – right now.
SOS Bainbridge Island
The Bainbridge Chamber of Commerce has teamed up with the Bainbridge Island Downtown Association to create SOS Bainbridge Island. This informative community effort aims to save our stores and businesses. Its website includes updates on how you can safely shop, dine, and support local merchants. Windermere Bainbridge Broker, Jackie Syvertsen notes, “I love how Bainbridge businesses have evolved to stay open through the Covid crisis. They’re happily creating distancing and extra safety features to accommodate.”
According to the Bainbridge Chamber of Commerce, many businesses, especially on Winslow Way, rely on summer visitors and tourism to help them survive through the rest of the year. Since this year’s visitor season was significantly quiet, we can all help now by shopping, dining, and supporting Bainbridge Island businesses.
Local Windermere Broker, Susan Grosten brings to light that “most of our businesses are owned by our own Bainbridge neighbors and friends, all who regularly add back to the community as locals. I’ve enjoyed so many of them, for 31 years and counting!”
How the Windermere Bainbridge Team
Supports our Community
Since 2005, a portion of every Windermere Bainbridge agent’s commission is donated to the Windermere Foundation of Bainbridge Island. Each year, the foundation donates funds and provides scholarships and support to essential community service organizations on Bainbridge Island.
Additionally, we are passionate locals who regularly shop, dine, and support merchants within our community. Our Broker, Shannon Dierickx says, “I have so many great experiences with local shopping and dining. I’m an original island girl who loves to keep our local businesses thriving!” Broker Cheryl Mauer adds, “I love stopping in at Covet Boutique to pick up a special gift, or to find myself the perfect outfit or jewelry.”
For our Bainbridge treats and dining favorites, the list is endless. Our marketing team notes a gamut including Bene Pizza, Streamliner Diner, Hitchcock, Treehouse Cafe, Sawatdy Thai Cuisine, Doc’s Marina Grill, and so many more. We all have many dear, personal favorites on the island, and now is the time to support them all.
In addition to listing current updates on how restaurants and cafes have adjusted to serve the community, SOS Bainbridge Island’s website also includes information on how many other businesses and services have shifted.
“One of my very favorite businesses on Bainbridge is Barrecor! Owner Emiliana and her wonderful instructors are offering their amazing classes online,” raves our Broker, Susan Grosten. Another business that stands out to our team is the local non-profit, Bainbridge Island Saddle Club. The organization aims to promote good horsemanship and foster equestrian sports locally. Windermere Broker, Maureen Buckley appreciates its programs and favors that “it’s an old-fashioned horse club for local kids to adults.”
We are truly all in this together. The more we all support the Bainbridge Island businesses we love, the more we’ll endure these trying times as a community.
Ways to Enjoy Labor Day While Social Distancing
Bainbridge Island’s allure includes the peace and adventure it offers in every season, making it a great Labor Day destination, even amidst social distancing. While large gatherings are still on hold, below are some creative ways to say goodbye to summer while staying safe this Labor Day weekend.
Support Bainbridge Island Businesses
Bainbridge is home to many locally-owned shops and restaurants. Many are open and need support now more than ever. According to the Bainbridge Chamber of Commerce, many businesses rely on visitors from April through September to help them succeed. Since this year’s visitor season has been significantly quiet, the Chamber and the Bainbridge Island Downtown Association have developed SOS Bainbridge Island, in an effort to Save our Stores and Businesses. Their website includes updates on how you can safely shop, dine, and support local merchants.
Host a Backyard Movie Night
Upon publishing this post, Kitsap County is in Phase 2 of reopening. For safe Labor Day social distancing, outdoor recreation can include up to five people outside your household. This happens to be a delightful headcount for a DIY outdoor theater. Project a classic, favorite film in the comfort of your own yard. Have a catered, intimate event using a local favorite such as Via Rosa 11 or Bainbridge Island BBQ.
Choose your Own Labor Day Adventure
Stretch the summer spirit with all that Bainbridge has to offer this Labor Day weekend. From water sports to hiking, to exploring the Bloedel Reserve – everyone can partake in fun holiday-weekend activities. Just be sure to check out the latest safety updates before venturing out.
Savor Summer Favorites
Say so long to summer while savoring seasonal favorites. Enjoy zucchini walnut bread from Blackbird Bakery or watermelon sorbet from Mora Iced Creamery. Craving one last crab feast of the year? The season runs through Labor Day, so be sure to obtain a license and discover the best spots here.
We wish you all a safe and joyous holiday weekend!
The Allure of Bainbridge Island Living
The charm of Bainbridge Island, Washington offers an escape during tourist season to those from near and far. But locals know that Bainbridge Island living offers adventure, beauty, and serenity all year long. Vogue Magazine once coined it the Nantucket of the Pacific Northwest. Learn how its allure can easily convince any visitor to imagine Bainbridge Island as ‘home’.
Small Town Life and Adventure
Bainbridge Island’s footprint is similar in size to Manhattan but hosts a population currently under 25,000. Slower-paced and sophisticated, it’s also home to 65 miles of hiking trails, dozens of public parks and beaches, and the famous Bloedel Reserve. The 150-acre attraction is regularly named one of the Top-10 Botanical Gardens in the US (its distinguished Japanese Garden is considered one of the best in North America.)
The adventurous landscape of Bainbridge Island is served regularly by ferry from Seattle, the route that many island locals make their daily work commute. A 35-minute ride allows time for breakfast, phone calls, and even a jump-start on emails, all with serene views. It’s quite the opposite experience of sitting in Seattle traffic.
An Excellent Place to Raise a Family
The quaint, engaged community of Bainbridge Island is an ideal place to raise a family. Safewise ranks Bainbridge Washington’s 6th safest city in 2020. The community also actively supports its highly-regarded public school system. Bainbridge Island School District includes Bainbridge High School, which often ranks high locally and nationally by US News and World Report. It also includes Captain Johnston Blakely and Ordway elementary schools; GreatSchools.org lists both in Washington’s top-10. Islandwood, a non-profit environmental learning center, also serves thousands of students each year from its 250-acre Bainbridge Island campus. Its alternative programs have gained national recognition.
Bainbridge Culture is Rooted and Refined
Full-time island life doesn’t mean leaving behind fine dining or the arts. From regionally-sourced and James-Beard-awarded Hitchcock, to long-time Kitsap County favorite, Agate Restaurant – the island’s local cuisine is often renowned beyond the region.
Bainbridge Brewing and Bainbridge Organic Distillers keep spirits cheering year-round. Locals and tourists alike can find their coffee fix all around the island. The iconic Pegasus Coffee and the adorable carly’s Rolling Bay Cafe are just a couple of favorites.
The artist community of Bainbridge Island is abundant. The BARN (Bainbridge Artisan Resource Network) keeps local artists and makers connected and inspired. Bainbridge Museum of Art and Bainbridge Performing Arts continuously feature local and indigenous works for all to enjoy, while galleries and studios dot the island throughout.
A Strong Real Estate Market
Bainbridge is a Pacific Northwest gem with so much to offer. And, now is a great time to make island living a reality. The local real estate market has fared well through the uncertainties of 2020 thus far. Plus, our Windermere Bainbridge agents are all active community members and highly-skilled experts. Our team has an average of over 16 years in the real estate industry (the range spans from 4 – 37 years). We are passionate locals, and we’re honored to work with nearly half of the market on the island.
Looking to get away from the crowds, but still be close to adventure and city excitement? Bainbridge Island’s 53 miles of shoreline with thousands of waterfront properties awaits. Let Windermere Bainbridge help you find your island home.
Bainbridge Island Market Review and Forecast – Q2
Windermere Bainbridge Island studies market data each quarter to evaluate trends and stats in order to convey a valuable review to our clients and community. Windermere Real Estate’s Chief Economist Matthew Gardner also contributes his broad, expert analysis of the Western Washington market, which we share below to illustrate a complete picture and forecast.
BAINBRIDGE ISLAND MARKET REVIEW & FORECAST: SINGLE-FAMILY RESIDENTIAL (PDF)
Despite the challenges of Covid-19, the Bainbridge Island real estate market continues to press on. June 2020 saw a dramatic rise in the number of pending sales from the same month last year. Mortgage rates remain historically low and multiple offers are once again commonplace, indicating our spring market may have been delayed but is now taking hold. For these reasons, our forecast speedometer continues to show a solid seller’s market.
Western Washington Review and Forecast
The following is a summary of The Western Washington Gardner Report provided by Windermere Real Estate’s Chief Economist, Matthew Gardner. He analyzes and interprets economic data and its impact on both local and national levels. Matthew has over 30 years of professional experience both in the U.S. and the U.K.
WESTERN WASHINGTON HOME SALES
- Total Sales: 22.2% drop from Q2/2019, but 30.6% rise from Q1/2020
- Homes for Sale: 37% fewer than Q2/2019, but up 32% from Q1/2020
- Pending Sales: up 35.7% from Q1/2020
WESTERN WASHINGTON HOME PRICES
- Average: $559,194 (up 3.5% from Q2/2019, up 6.6% from Q1/2020, suggesting that any concern regarding negative impacts to home values as a function of COVID-19 may be overblown.)
- What to watch for: Significant price growth in less urbanized areas going forward may be an indication that COVID-19 is affecting where buyers are choosing to live.
DAYS ON MARKET, WESTERN WASHINGTON
- Average: 40 days (matching Q2/2019, 14 fewer days than Q1/2020)
Conclusions
What a difference a quarter makes! Demand has re-appeared remarkably quickly and interest rates remain historically low. It certainly remains a seller’s market and I don’t expect this to change in the foreseeable future.
Our Windermere Foundation Scholarship Recipients
We have recently awarded our Windermere Foundation Scholarship to two incredible graduates from Bainbridge High School’s Class of 2020. There were many talented applicants and it was difficult to choose only two recipients. However, the two students we selected are remarkable individuals. Congratulations to Shea Dephinedae and Libby Clements Hall! Read on to find out more about our scholarship and these well-deserving recipients.
The Scholarship & Our History
Every year, Windermere Bainbridge offers two to three scholarships to invest in Bainbridge Island’s youth. We award the Windermere Foundation scholarships to students based on a variety of their community service involvement and scholastic achievements.
Community service is our primary focus since we pride ourselves on our own community involvement. You will often find our agents and staff volunteering and supporting local organizations. Giving back is a big part of who we are. For the past 15 years, a portion of every agent’s commission has been donated to the Windermere Foundation of Bainbridge Island. All agents participate, and with this common purpose, we collectively show how much our community means to us.
We’re also proud to be part of the broader Windermere Foundation. It impacts communities across 10 states and has raised over $41 million for programs that provide shelter, food, children’s programs, and more.
Scholarship Winner Shea Dephinedae
Shea was an active member of cheer throughout high school and participated in basketball, arts, and community service activities. Also, Shea enjoys cartooning, sculpting, and writing poetry.
When describing community service experiences, Shea said one particular moment that stood out was when they helped senior citizens with technology. “[We] visited a nursing home and helped them to use their phones and tablets. It was always so pleasant to see such kind-hearted people be able to use their phones more effectively and communicate with their families easier.”
A highly active student, Shea was also a member of the National Honors Society for all four years. Additionally, Shea worked for Bainbridge Gardens and still managed to maintain a high GPA.
Now that Shea has graduated, he plans to attend the University of Washington and major in Sculpting. After receiving the Windermere Foundation scholarship, Shea said, “I would just like to say thank you. Windermere’s incredibly generous scholarship was such an amazing and exciting surprise during a rough time. I know this money will greatly benefit me and I hope to one day give back to my community just as you all have.”
Scholarship Winner Elizabeth “Libby” Clements Hall
Throughout high school, Libby was an active member of band and theater, participating in Les Miserables, Radium Girls, Glee voice, and dance. A performing arts enthusiast, Libby has been doing theater since she was three.
Regarding community service, Libby was an assistant in ILC, a special education classroom at Bainbridge High School. Libby said that experience was the highlight of senior year.
A very active student, Libby also volunteered as a BPA main stage volunteer, Island Theater volunteer, NAACP member, and a Bainbridge Pride Volunteer. Libby also maintained a high GPA and received awards and recognition: the Silver Presidential Service Award and honors in theater. Additionally, Libby lettered in band, theater, and winter guard and was an officer of the International Thespian Society.
Libby plans to attend Seattle University, majoring in History, English, and Interdisciplinary Arts with a focus on Music and Theater. “I plan to get a master’s degree in education and become a special education teacher.” Libby was excited to receive our scholarship and said, “Thank you for this awesome opportunity!”
Here at Windermere, we strive to make a difference, big and small and it’s an honor to support Shea and Libby through the Windermere Foundation scholarship. Please join us in wishing them the very best! We know they will make our community very proud.
Best Summer Activities on Bainbridge Island
There’s something magical about Bainbridge Island in the summer. It’s no wonder it’s such a popular tourist destination. While it’s nice to know what tourists enjoyed about the area, it’s even better to get the inside scoop from locals. And, many of our real estate agents are 2nd and 3rd generation islanders. So we are happy to share our agents’ favorite Bainbridge Island summer activities.
If you are planning on visiting or partaking in these activities, please make sure to brush up on the most recent Bainbridge Island Covid-19 rules to make sure you are prepared. Also, look at businesses’ websites or Facebook pages before visiting in person so that you have all the latest information regarding their current operating hours and the protocol they’re following.
Enjoy the Island by Water
What better way to experience island life than by water? After all, we are surrounded by it. Many of our agents are avid kayakers and sailors.
Kayaking
If you are itching for some classic summer fun, Kayaking in the Puget Sound is a wonderful activity. Our local SCUBA and kayaking center, Exotic Aquatics has kayak rentals and guided tours at their kayak dock at Waterfront park. Exotic Aquatic will also deliver kayaks to your location, and they also have kayaks for purchase at their store on Madison.
Our Managing Broker, Patti Shannon is an avid kayaker. Keep your eye on the water for a chance to say hi!
Sailing
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- Looking for a chartered sailing adventure? Check out Sail Bainbridge or Dreamboat Adventure Sailing. If you have children who want to learn how to sail,
Bainbridge has a great sailing camp. Courses are taught by certified instructors. For more information, check out the sailing section on Bainbridge Island Parks’ website.
- Looking for a chartered sailing adventure? Check out Sail Bainbridge or Dreamboat Adventure Sailing. If you have children who want to learn how to sail,
.
Low Tide Beachcombing
If you aren’t familiar with our area, we have incredible swing tides. The beaches double and triple in size, showing off all the wonders hidden by the Puget Sound. Seaglass, shells, and hidden secrets hide beneath our high tides. Don’t forget to skip a rock or two.
Fishing and Crabbing
There’s nothing like a feast of crab and freshly caught fish to show you’re savoring summer on Bainbridge Island. Whether you want to fish or crab with or without a boat is up to you, but always make sure you have a license. Check out more about the optimal times and places to go.
Explore on Your Own Two Feet
Bloedel Reserve
The Bloedel Reserve’s mission is “To enrich people’s lives through a premier public garden of natural and designed Pacific Northwest landscapes.” With 150 acres and beautiful trails that weave through forests, meadows, sculpted gardens, this will not disappoint. “Walking in Bloedel is special! It’s gorgeous and full of nature’s best and local history!” Says Broker, Diane Sugden.
Fort Ward Park
Looking to go on a nice stroll with a wide, open path free of cars? Fort Ward Park is an excellent spot. “I love the closed road at Fort Ward Park,” says Managing Broker, Susan Grosten. “No cars are allowed in and it is a level road. A lot of young kids practice their new bike riding skills there without fear of traffic. It is like ‘training wheels lane’!” Diane Sugden also recommends a visit to the park. “Walking or biking at Fort Ward is great. It’s fun because there are old wartime bunkers there and the kids love to explore. The beach there is rocky so it’s fun to turn the rocks over and find crabs.”
The Bainbridge Island Japanese American Exclusion Memorial/Pritchard Park
“Our family, grandkids, and dogs especially like visiting Pritchard Park during the summer,” says Managing Brokers Maureen and Ed Buckley. “You can swim, sit on a sandy beach or a log, and have a beach fire or barbecue.”
“The Japanese Exclusion memorial at Pritchard Park is a beautiful tribute to the first Japanese American families removed from their homes and put into camps in World War II. In this time of inclusion awareness, this is a good reminder for everyone. It needs to be age-appropriate for the kids, as it is a difficult time in our history, but it is important,” says Susan Grosten.
Have Fun with the Kids
Kids Discovery Museum
There’s no better place for young children than Bainbridge Island’s museum for kids. The Kids Discovery Museum aims to spark children’s curiosity through experiential learning. Right now, they’re offering summer camps and a virtual art room to feature kids’ creations online. They also have at-home activities that promote STREAM (science, technology, reading, engineering, arts, and math).
Pick Fresh Berries
If you’re not from the PNW then you may be surprised to find that there are blackberries all over our island. Enjoy some free fun with the family by seeing who can pick the most and then use them to make delicious pies or jam.
There are also opportunities to pick other types of berries on the island like the strawberry patches at Suyematsu Farms. For the blueberry lovers in your family, visit Bainbridge Island Blueberry Company.
Inspire the Artist in You
BARN (Bainbridge Artisan Resource Network)
BARN’s mission is to “build and support an open, intergenerational community of artisans and makers who are dedicated to learning, teaching, sharing, and inspiring one another with creativity, craftsmanship and community service”. They are now offering a series of online classes and will be reopening when Kitsap County has entered into Phase 3 of Covid-19. Susan Grosten enjoys BARN and what it offers. “It is such a cool and creative place for artists and woodworkers. It was built with community funds. They have great classes including jewelry making, woodworking, writing, creating fabric arts, and using 3D printers.”
Eagledale Pottery Studio
Bainbridge Island is home to one of the best-kept secrets: the Eagledale Pottery Studio. A simple, WWII-era cinderblock building, this pottery studio houses a vibrant community of ceramic hobbyists of all ages and skill levels. They have classes for kids and adults, individuals, and school groups.
There are so many great summer activities here on Bainbridge Island. Whatever you decide to do, don’t forget to wear your mask, follow the Bainbridge Island COVID-19 rules, and take pictures of all the fun you’re sure to have. We hope you have a healthy, happy summer!