Should I sell my home now in Seattle/Bellevue? Jan 2010

Is it a good time to sell now? This is a follow-up posting to my January ’08 post.  The following still applies today

 Well if you are a regular reader of my blog you probably saw the posting “Should I sell my home now?” back in January of ’08. Well, the market has changed since then. The good news is this makes it a great time to sell for certain sellers.  Home values in most of Western WA have dropped since the beginning of the year.  In some areas the drop has hit the double digit percentage. How could it be good to sell when your home may be worth $50,000 less then last year?

  Here’s how… 

For move up sellers. Seller who plan to move up to a more valuable home.

Last year your homes market value was around $500,000. For the ease of calculation I will use 10% in this example. This year your homes market value dropped by 10% ($50,000)  and now is valued at $450,000 . Your plan is to buy a $900,000 home. The home you choose also had a drop of 10%. That $900,000 home last year had a market value of $1 million a difference of $100,000. You would actually save $50,000 by buying up.

  How did I get that #? $100,000 (the drop in value for the home valued at $1 million last year) – $50,000 (the drop in value for the home valued at $500k last year) = $50,000 savings.

  Who shouldn’t sell now?

Freaked out by the market

 Sellers who are freaked out by the market and have no plans to “buy up”, should NOT sell. Think of.. buy low, sell high.

Don’t forget, in order to sell your house the price has to be better than all of the comparable homes. If it’s not, expect the potential buyers to move on to the better priced home. Inventory is up.  Buyers know this and will move on to the next house if the price isn’t right.

 For more info about your homes market value & selling your home please contact me @ 206-465-7257.

To search for homes/real estate in the Seattle & Bellevue areas click here.

Visit www.GregRBenson.com for more info about buying and selling a home or condo

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About Me

After spending 12 years in the sales, support and service field, I made an exciting career change to be a Realtor. The last six of those 12 years I was a corporate trainer. I trained customer service, retail, and I.T. support. Now I am helping people with what I became fascinated with many years ago when my wife and I purchased our first home, buying and selling homes.

 

What I have done and how I did it. I have been in the business since early 2005 and in my first full year I was in the top 20% of the nation in commisions and in the top 10% in my 2nd, and the top agent in my office of 110 agents. I think I have been able to acheive these numbers by living my life with honesty and integrity long before I got in the real estate business. A mjority of my business has come from my friends and family and they knew they could trust me with the sale or purchase of their home. I also have worked very hard to get my websites up on search engines and since mid 2007 about 50% of my business has come from my websites. I use that same honesty and integrity when working with internet clients. I was nominated to be part agent leadership council for my office and I am also a trainer and personal mentor for new agents to our office.


   I grew up on the Peninsula and moved to the Seattle area in 1992. My wife and I were married in 1998 and have lived on the Eastside since then. We purchased our home in what turned out to be a very close knit neighborhood. We have regular neighbor nights, we help coordinate an annual 4th of July block party, and host an annual Halloween haunted house in our yard and garage. I look forward to helping my clients find this sense of community in a neighborhood whether it be a starter home or a dream home.

 

  In my free time I enjoy playing softball, working in my yard, entertaining friends and family, and going to estate sales.

  It is my goal as your full service realtor/real estate consultant, specializing in the Bellevue, Kirkland, Redmond, Issaquah, Woodinville and Bothell areas, to provide you with superior service at all times. My local expertise and extensive real estate experience will benefit you whether you are serious about buying or selling a home at this time, or are a returning client checking out the many homeowner resources I offer.
 
Selling link goes to a testimonials or blog

Buying a home? I look forward to helping you select the home of your dreams by taking time to listen to your needs and desires.

Selling a home? My real estate expertise and many effective marketing programs will give you the exposure and edge you need to sell your home quickly for top dollar.

Returning Client? I appreciate the opportunity to continue to serve you and hope you take advantage of the valuable resources I provide. Come back to visit often!

I consider these communities excellent places to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself on providing unparalleled service and look forward to developing a long-term relationship with you. Please feel free to contact me if you would like to discuss how I can best assist you with your real estate needs.

Sincerely,

Greg Benson

Testimonials for Realtor Greg

  Thanks for visiting my testimonial page. Below are just a few of the happy clients I have helped to get into a home or condo.

P & J Smith– “Thanks you so much for all of your support, work and advice!We appreciated your help so much. Your time spent on us was invaluable! Thank you!”

R & S Drake– “We will continue to recommend you highly in the future.”

Susan Smith Keller Williams Real Estate agent in Colorado regarding her referral to me- Betty is so thrilled with your performance and her new home! I really appreciate the good care you took with her and now you are my ‘send to’ guy for anyone else I run into headed your way.

Thanks again,

Susan
 
Steven & Jennifer Bandy- We feel like you took the time to find out what our needs were and showed us appropriate properties. I don’t think we could have ask for more from any agent. It was fun working with you and getting to know you.

Vacant home with no mortgage, should you wait to get your asking price?

Overpricing your home can cost you bundles even if the home is paid for. It’s called missed opportunity costs. It’s pretty obvious to all of us that a vacant home for sale with no mortgage will cost us taxes and utilities, but not many people think about the missed opportunities costs.  Here is the scenario….-A seller puts their paid for, vacant, home on the market.-The market value of the home is $475,000.-The seller thinks since the home is paid for they can over price the home and wait for an offer, thinking they are in a good negotiating position.-Seller has an asking price of $510,000-The seller has purchased and has a mortgage on a new home. Here is the problem with this scenario. The seller still has taxes they have pay on that vacant house aprx. $300-$500 per month. They also are paying utilities to keep the house from getting musty maybe $50+ per month. These are commonly known costs and many sellers are willing to risk these costs to get a few thousand extra dollars, but not many sellers think about the “missed opportunity costs.” If the real estate market is flat or dropping then there are better places to put that $475,000. I am not an expert in the financial advising but I know there are many mutual funds that return 5-15% regularly. Another option would be to buy another home in an area that has bottomed out and get a great deal and use it as an investment. With that kind of money you could put 20% down on many properties.

  So sellers, don’t forget about those missed opportunity costs. It’s best to list and sell your home at market value (see Should I sell my house now/Pricing it correctly) and put that money in other investments than let your house sit for months maybe years just to try and get a few thousand extra dollars.  Greg R Benson – Bellevue, Redmond, Kirkland Real Estate

Get Your Home’s Market Value?          Click Here to Search for Homes.         Click here to have listing sent to you.

Contact us.

Downtown Bellevue has a bowling alley. Is it a strike out?

 Downtown Bellevue has “Lucky Strike”

Lucky Strike Lanes Bellevue WA

  As of early January 2008 downtown Bellevue has a great new active place to hang out. The hip national  bowling chain made it’s way to Bellevue. With 16 locations across North America Lucky Strike Lanes obviously thought Bellevue was worthy enough to bring this hip and vintage, lounge style bowling alley to town.

 My review of Lucky Strike Lanes (LSL) is….. 7 out of 10. The cool things about this place are the location, the mix of the vintage Hollywood lounge style with the technology we expect here in Microsoftville. This could be a good or bad thing depending on what you like but I like it that they have about half the lanes of most bowling alleys. The obvious downside is the alley fills up fast so make your reservations. I didnt have any food so I cannot review that but the wait staff service seemed to be adaquit. Here is the reason I didnt give LSL a higher rating… The check in and check out desk is tiny and not very well planned. Check in wasnt too bad but check out was a hastle and a mess. We had a group of about 16 people, everbody paid for themselves and instead of charging us on a per game basis they charge by the hour with a group that size. We were all backed up at this tiny desk trying to figure out how much we owed. We had people leave early and come late so we couldnt just devide it up 16 ways. It took us a while to get it all worked out. Over all everybody that came had a great time. Check it out!

  Downtown Bellevue Lucky Strike Lanes Bowling Alley

White vs. Color? Interior painting to sell your home.

  What should you do to help sell you home quicker and for top dollar?

  “Let’s just keep it white that way the buyer can paint it the color they want.” Have you heard this? Maybe you have said this. Believe it or not this is still a misconception in the real estate market. Logically it makes sense but a majority of the buyers do not want to make changes to their new home. Moving is plenty of work as it is. We are all very busy and taking a few days out of our lives to paint a few rooms or maybe all of the them is not our idea of taking time off.  White is also considered a very stark and cold color not to mention it doesn’t look that good in the pictures on the MLS (Multiple Listing Service).

Here is what buyers want…

-Warm and stylish colors

-Coordinated contrasty colors (here is where you can keep your white) for mill and trim work.

Here are a few examples of how color helps a room look better.

White roomGreen RoomSafe colorWhite RoomSafe colorBold Color

Painting is a very inexpensive way to give your house a mood and make it look fresh and new. Don’t save money in this area.

 I can help you get your home ready for sale. Visit www.GregRBenson.com or www.O-Condo.com for your home or condos value, my contact info and other real estate info.

Get Your Home’s Market Value?          Click Here to Search for Homes.         Click here to have listing sent to you.

Contact us.

Should I sell my home now?

 Is it a good time to sell?

This posting is not specific to Bellevue, Kirkland, Issaquah, Redmond, Bothell etc. It applies to the real estate market in most of Western Washington. Ok, the question is, Should I sell my home now.  Here is my opinion. With the way the interest rates are now I expect there will be a flood of first time home buyers, move up buyers and refinancers. So if you have been on the fence about selling here are a couple reasons to sell now.

-Don’t miss the flood of buyers suddenly hitting the market because of the rates.

Home values are still rising in and around the King County areas.

The selling season will be here in about a month. There is no better time than now to get your home ready for sale and put on the market.

One last thing I want to stress to sellers, It is vital to price your home correctly. Overpricing a home or condo doesn’t work and here are just a couple reasons why…

-Many sellers think they can overprice their home so they have room to negotiate. Sounds like good sound logic but here is the flaw. If the market value on your home is $495,000 and you want to list for $510,000 you will miss all of the buyers that have a max price point of $500K. 

-These days buyers are very well informed and educated about the real estate market. With the internet they have access to all of the listing on the Multiple Listing Service and they will know when a property is over price causing them to not want to visit your listing.

-Your home becomes “stale”…  What does that mean? If your home is overpriced it will sit on the market. Sellers have about a 3 week window to get a property sold for top dollar before it becomes “stale” meaning buyers will either think there is something wrong with the property and never view it or if you get lucky you might have a buyer looking for homes that have been on the market for a while and make a crazy low offer. Let’s compare your home to a loaf of bread. The market value on a loaf of bread is $1.99 but you price it at $2.50. Buyers will see all of the other comparable loafs for $1.99 and buy those. 3 days have passed and you decide you want to lower the price of your bread to the market value price. The problem is that your bread is no longer fresh and squishy. Another 2 days go by and your bread is still on the shelf. What do you have to do to get that bread sold??  Discount it to sell. It’s the same concept with a home. It’s better to price it correctly when you first list it so you get top dollar.

Please visit  www.GregRBenson.com or www.O-Condo.com  for your home and condo real estate needs. Somebody on my team is more than happy to answer your selling or buying questions.

Get Your Home’s Market Value?          Click Here to Search for Homes.         Click here to have listing sent to you.

Contact us.

 

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