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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.
Avoid These Costly Home-Selling Mistakes
When selling your home, the process goes more smoothly if you prepare in advance. There are many aspects of successfully selling a home and maximizing profit. While selling always involves various fees and costs, there’s a difference between standard costs and costly mistakes. By planning and considering all your options, you can avoid these costly home-selling mistakes.
Not accounting for home-selling costs
From the beginning, you should be thinking about various home-selling costs. Even if you’re not worried about them, it’s better not to be caught off guard. Before you put your home on the market, there are costs for the pre-sale inspection and the listing agent’s fees. Also, you want to make sure your home looks its best to get the best offer. This includes making any necessary repairs, possibly completing any renovations that have a high return on investment, and investing in professional staging.
When your home sells, costs include paying off the mortgage and any escrow fees. And of course, there are always taxes. This includes property taxes from the sale and there may be additional taxes depending on your situation, such as the capital gains tax. Once the sale is final, then it’s time to move. To ensure your belongings arrive at their next destination safely, it’s best to hire professional movers. If you’re not able to move directly to your new place, there may be storage costs to factor in as well.
Not making your house shine
If you really want to make sure your home sells for the highest possible price, there are some important steps you need to take. While these steps do cost money, they are worth it. The first one is preparing your home for the market. Start with a pre-listing home inspection. If the inspection reveals a list of repairs, meet with your real estate agent to decide which repairs are necessary and which have the highest return on investment. By making the right repairs, your home will be more attractive to buyers.
Also, hiring a professional stager will enhance your home’s appeal. First impressions are everything. Professional stagers know what personal items to pack away, how to highlight a home’s best features, and what photographs well and will capture buyers’ attention online. All these things work together to help potential buyers see themselves living there, which typically leads to better offers and faster sales. Yes, there are upfront costs to consider, but the investment will be worth it.
Also, if the pre-listing inspection does uncover major repairs such as issues with the foundation or the roof, the Windermere Ready Program can help cover upfront costs. This is a loan program offered by Windermere to help sellers cover much-needed repairs up to $100,000. When your home is sold, the loan is paid off in one lump sum. For more information, contact a highly-rated Bainbridge Island real estate agent.
Not working with a local real estate agent
When it comes to selling a home, it’s hard to beat working with a local real estate agent. Good local Realtors know your local market, are experts at negotiating, and have access to all the best listings. If you try the “for sale by owner” approach, you have to figure out all these things on your own and have the burden of added liability. By working with a local real estate expert, you have access to excellent local vendors, top-tier marketing resources, and experienced, data-driven guidance. They will help you avoid costly home-selling mistakes. As your greatest advocate and resource, your local agent can provide advice and insights. Local real estate agents know what houses are selling for in your neighborhood and will ensure you connect with the right buyers to get the best price possible.
Not getting a CMA
If you work with a local real estate agent, they can provide a free Comparative Market Analysis or CMA. This is a detailed report that estimates the value of your home by comparing your property to others in the area. A CMA starts with a walk-through of your home to give the real estate agent a sense of its size, condition, and best features. This information is compared to similar homes that have sold in your area. To get the full picture, the agent also looks at local market trends, the location of the home, nearby neighborhood amenities, and any other relevant factors.
Together, this information helps determine the listing price. It’s finding a balance between being competitive and getting the best offer. The CMA helps ensure your home is priced to sell. Plus, all this information helps a real estate agent determine what repairs will bring the highest return.
Not accepting the best offer
Sellers often think the best offer is the highest bid, but that’s not always true. Before accepting an offer, it’s important to discuss all the terms with your real estate agent. Cash offers or buyers pre-approved by a lender are more likely to close on time. If you’re on a tight timeline, an offer with these terms could be best for your circumstances. Also, take time to review any contingencies and how those could potentially affect the outcome. If the buyer requires a quick move-in date, you have to consider whether you can accommodate an even tighter timeline. Look at all the pros and cons of an offer to ensure it’s best for you and works for your situation.
By avoiding these home-selling mistakes, you will have the best chance of getting a great offer. And by following the above advice, you will also minimize moving-related stress.
Selling and Buying a Home at the Same Time – FAQs
Selling a home while buying another home at the same time can be challenging. If you are thinking about doing this, you probably have questions. So, we’ve gathered together a list of frequently asked questions to help you through the decision-making process.
What are the pros and cons of selling a home with a contingent offer?
Cons: If you accept a contingent offer, there’s no guarantee that the buyer’s home will sell quickly. As a result, if you need to sell your home within a certain time frame, it’s essential to specify a timeline in the contingency agreement. This gives you an out if their selling process drags on.
Pros: If your house has been on the market for a while, a contingent offer might be a better option than no offer. But what if another offer comes in while the contingent offer is in place? This can happen. To prepare for this type of scenario, be sure to include a “bump” clause. As part of the contract, include language that specifies a time frame for the first buyer to decide whether they still want to pursue the contract. This requires the buyer to respond. If the buyer does not respond, you can legally back out of the contract and pursue the new offer.
What are the pros and cons of buying a home with a contingent offer?
Cons: A contingent offer doesn’t mean as much in a popular market such as Bainbridge Island. Multiple buyers with multiple offers can be common. As a result, it might be harder to get a seller to agree to a contingency offer. Also, you may be competing with buyers who don’t need to sell their home before buying, making a contingent offer impractical. If you really want to purchase a particular property, you may have to make an offer outright.
Pros: If you are able to place a home sale contingent offer, this allows you to smoothly transition between houses. You won’t have to worry about renting a temporary place or placing your belongings in storage. Once your home is sold, another one will be ready and waiting for you.
If you have more questions about contingency offers, we’ve compiled more detailed information for you.
Do I buy or sell first?
This is a great question because there are pros and cons to both. Even if you intend to do both simultaneously, you will most likely have to begin one before the other.
Selling first: Starting the selling process first sets you up for greater success in buying a new home. If you sell your home, you’ll have more cash available, which increases your buying power and your down payment. It’s also nice to pay off your first mortgage through the sale before taking on a new one. However, the downside to selling first is that you don’t have a new place to move into. This is a common scenario when selling and buying a home since the timing rarely aligns perfectly. If you do find yourself in this position, one option is to negotiate a rent-back agreement with the buyer. This will allow you to rent the house temporarily and give you more time to find your new home.
Buying first: Buying a new home before selling makes moving a lot simpler. There’s no need to find temporary housing. Instead, you can pack up and move everything to the new place. Making the decision to buy first really comes down to your finances. Having two mortgages means taking on more debt, which can impact your loan terms for the new house. Also, if you haven’t sold your home first, it might be challenging to arrange enough money for a down payment. Without a down payment of twenty percent, obtaining private mortgage insurance (PMI) may be necessary. Lastly, the decision to buy first is based on the assumption that your current house will sell relatively quickly. This is a safe assumption in the Bainbridge Island market, but not a guarantee.
Ultimately, the decision to sell or buy first depends on your situation and what works best for you.
Do I really need to stage my house?
The simple answer is yes. While staging your home may seem like a daunting task, it’s worth the effort and investment. Overall, staged homes typically sell faster and for more money – a double win! Also, a big part of the selling process takes place online. This is where most buyers will see your home first. A staged home better lends itself to eye-catching photos and great first impressions. When potential buyers see your home online, you want them to be able to imagine themselves living there. Staging is the best way to do this and helps interested buyers take the next step. Even partially staging your home can be incredibly beneficial.
Is now a good time to buy and sell?
Based on what we’re seeing in the Bainbridge Island market, we think the answer is yes. The average sale price here in Q1 was $1.6M – and that’s the slow season. Bainbridge’s housing market is heating up and a great real estate agent can help you achieve your goals. Here at Windermere Bainbridge Island, our local agents are highly rated, know our market, and can effectively negotiate on your behalf. Contact us today, and we’ll help you get started.
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.
