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Windermere Ready: Sell Your Home For More
The best way to impress potential home buyers is to ensure your property looks better than ever. The Windermere Ready program helps you accomplish this by preparing your home to make an excellent first impression. With the strategic guidance of a local real estate agent, our program maximizes your home’s value and helps increase your home’s sale price. Often this requires making an investment in repairs or upgrades to help your home shine. The Windermere Ready program offers up to $100,000 in financial assistance to make necessary improvements.
Sell in Less Time and for More
Typically, homes that look their best and have been enhanced and updated sell for more and faster. You want potential buyers to fall in love with your home, and their excitement can lead to offers above the asking price. While each home is unique, taking steps to improve your home is essential. But knowing where to focus your efforts is key.
The Windermere Ready program provides:
- A customized consultation
- An action plan developed specifically for your home
- Recommended high impact repairs and updates
- Professional staging for the finishing touch
Generally, buyers look for turnkey homes with the goal of moving immediately. Yet, many homebuyers also want certain comforts and amenities. This makes deciding what to fix before selling challenging. The Windermere Ready program takes the guesswork out of this process. One of our Bainbridge Island real estate experts will assess your home and identify important repairs and upgrades.
This information is used to create a personalized action plan to make your home market ready within your timeline. Working with an experienced professional also helps you avoid costly home-selling mistakes. Our Bainbridge Island real estate agents can also recommend local contractors and coordinate access to your home if needed. The Windermere Ready program is focused on maximizing your home’s value and making the selling process easier.
Maximizing Your Home’s Value
While many home sellers worry about needing to make major changes, minor ones often have the biggest impact. An eye-catching garden, a beautiful front door, and a fresh coat of paint give your home curb appeal. On the inside, making improvements with deep cleaning, decluttering, and updating certain spaces can reveal the beauty of your home to potential buyers. Focusing on minor repairs such as cosmetic updates and refinishing flooring will improve your home’s overall appearance. All these little things add up to a welcoming home, which makes a big difference to buyers.
The Windermere Ready program focuses on simple improvements for the outside including:
- Landscaping
- Power Washing
- Window Washing
- Lighting
- Decorative Window Elements
- Painting
- Front Door Appearance
Simple improvements on the inside include:
- Decluttering
- Professional Deep Cleaning
- Window Washing
- Carpet Cleaning/Replacement
- Floor Repair/Refinishing
- Cosmetic Updates
- Fixture Repair or Replacement
Staging Your Home
Once all the cleaning is done and the repairs are made, it’s time to stage your home. This is an important last step before showcasing your home to potential buyers. With the expert advice of professional stagers, you can increase your home’s sale price. Staging helps buyers visualize living there, and creates the best first impression online. In fact, staged homes can sell for up to 20% more than non-staged homes.
Windermere Ready is Invested in Your Success
Whether your home needs minor or major repairs, the costs add up quickly. The Windermere Ready program is available and there are no upfront fees for the loans. Additionally, there are no monthly payments during the six-month loan term. Once your home sells, the loan is paid off in one lump sum.
Carter Dotson, Owner and Designated Broker, explains, “The Windermere Ready program is designed exclusively for Windermere clients to give them access to funds that can be used to prepare their home for the market and ultimately generate greater interest from potential buyers. Since its inception we have seen tremendous success for those who make use of the program.”
For more information, please contact us today.
Home Sellers’ FAQs: Inspections, Contingencies, and More
Thinking of selling your home? Home sellers deal with appraisals, inspections, contingencies, staging, and more. We answer your most frequently asked questions below.
What is a Comparative Market Analysis?
A Comparative Market Analysis or CMA is a detailed report that estimates the value of your home based on the sale of similar properties in your area. Typically, the seller’s agent completes the report after inspecting your home and researching other similar properties near yours. They will also take into account regional market trends.
One of our local real estate experts can provide a free analysis. Knowing this information will allow you to make informed decisions moving forward. It can also aid in determining what remodels or potential upgrades would be worth it to make before putting your home on the market.
How is an appraisal different from a CMA?
An appraisal of your home will occur further along in the home-selling process. Once a buyer makes an offer, their lender will require an appraisal for financing purposes. It ensures that the bank does not lend the buyer more money than the property is worth. Typically, the home buyer will pay for the appraisal.
Is a pre-listing inspection worth it?
While a Comparative Market Analysis will identify the value of your home, a pre-listing inspection can take place before the home is put on the market to ensure it is ready to list. A home inspector examines the property and identifies any repairs or problems that may need to be addressed. Pre-listing inspections also allow the seller to address and avoid any surprises that might scare off a home buyer. Additionally, they help instill a sense of trust so that the buyer knows more about the property upfront and feels more confident about it.
If the pre-listing inspection uncovers any major repairs that need to be completed prior to selling the property, the Windermere Ready Program is a loan program that can help sellers with the upfront costs. It provides a loan specifically for repairs and upgrades to a property and can enhance your home with the goal of it selling for more and in less time.
What types of contingencies will I face?
Once a buyer puts in an offer, it is common for the offer to come with contingencies. Five of the most common contingencies in a home sale are home inspection, financing, appraisal, home sale, and title contingencies.
These contingencies protect the buyers’ interest, but the seller also has certain options in each case. For example, in a home sale contingency, it is the seller’s choice on whether or not to accept the offer contingent upon the sale of the buyer’s home. A seller could also include a “bump” clause to keep showing the property. If you receive a new offer, the first buyer has a specific time period to either choose to move forward or back out of the contract.
What if a buyer backs out?
First and foremost, it will be important to work with your real estate agent to fully understand the buyer’s offer. Once agreed upon, the buyer will put their earnest money into escrow.
If a buyer backs out for a reason other than those stipulated in the contract, the seller receives the earnest money. If the buyer backs out for a reason that is stipulated in the contract, then they will receive their earnest money back.
As a seller, you are also able to accept backup offers and/or refuse offers and counteroffers.
Should I stage my home?
Most real estate professionals will agree, staging a home is worth it. Staged homes often sell faster and for more money than un-staged homes. Many buyers begin their house hunt online and a staged home can make a good first impression. Highly-quality staging and excellent professional photos can grab buyers’ attention and help them easily imagine living there.
If you still have questions about the selling process, our agents are always happy to help. Feel free to reach out. Additionally, check out our guide to selling a home for more useful information and tips.
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.
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.
Home Seller’s Checklist: How to Successfully Sell Your Home
Adequately preparing your home before putting it on the market will help you successfully sell it. There are some important steps to take that can drastically improve your home’s appeal, ensuring it will sell for the best price and in a timely manner. Here’s our home seller’s checklist to help you get ready.
Preparing Your Home for Market
We highly recommend listing your home at least three months before your ideal “closing date”. The listing date is an important factor and it’s crucial to make data-driven decisions. That’s where a real estate agent with expertise comes in to inform and guide you through the process. An experienced, local real estate agent knows the market and can help you properly prepare your home. Agents can point out necessary changes, but it is important that you take care of any projects you have been avoiding so that everything is done before your listing date.
Decluttering
Since you will be moving, jump-start the packing process by decluttering your home. Don’t forget to donate unwanted items to Goodwill or the local Rotary Auction.
- Clutter and random items should be packed away, including most or all of your family or personal photos. This gives the prospective buyer a chance to envision themselves in your home.
- If you can move out and allow your agent to stage your home, this will take all of the responsibility off your plate. Here are the benefits of staging your home.
Appearance and Hardware
Before putting your home on the market, take a look at your home’s overall appearance and hardware.
Ask yourself a few questions:
- When was the last coat of fresh paint? (Inside and outside)
- Is the landscaping up to your standards? Are there any patches of dead grass or any dying trees?
- What condition is the flooring in?
- Is the hardware in your home working properly? (Sink hardware, doors, windows, light fixtures, and appliances)
Agents Are Your Best Resource
Any good home seller’s checklist makes one thing clear: it takes work to properly get your home ready to sell. But if you have a great agent, they will help you every step of the way and make this the best experience possible. Here’s what they can do so that it’s not up to you to navigate all of this on your own.
- Help prevent and reduce stress
- Project manage the process of selling your home
- Provide you with a list of priorities
- Offer their up-to-date market expertise
- Utilize their global marketing network and their local connections to excellent stagers, photographers, landscapers, home-repair contractors, etc.
Our Windermere Bainbridge Island real estate agents go above and beyond for their clients. As highly knowledgeable locals, they possess decades of experience and are invested in our community.
Before Showings
Once your home is ready to be listed, here are some key tips for when your home is being shown.
- Due to the current pandemic, it is important to know the latest CDC guidelines and specific safety standards that the real estate industry is following.
- Make sure your home is set at a comfortable temperature. Usually mid to high 60s is appropriate.
- Light up your home: turn on all the lights inside, and in the evenings turn on your exterior lights.
- Are you a pet person? Make sure to keep them in a separate area, and if you have cats, remove or hide the litter boxes.
- Hide money and valuable items.
- Open up all drapes and curtains to fill your home with as much natural light as you can.
- Interior doors should all be open except for closets.
During Showings
Sometimes showings can become constant. If you are unable to leave during the showing period, here are some helpful tips.
- A buyer will likely feel more comfortable and spend more time in your home if you are not there.
- Try to keep your distance, and keep children and pets quiet and out of the way.
- Don’t interrupt or follow potential buyers through your home.
- Allow the agent to show and sell your home. Rely on their expertise.
Additional Resources
For more information, download our Market Prep Guide and our Pre-Listing Checklist. We also have an extensive Guide to Selling a Home which provides information about the home inspection, settlement and closing, moving, and terms often used. And, if you need further assistance, you’re welcome to contact us.
