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Community • Windermere Kingston • April 18, 2024

New Agent Spotlight: Michelle Mundee

by Windermere Kingston
michelle-mundee-realtor

An experienced agent, Michelle Mundee possesses a wealth of knowledge, and she recently joined our Windermere Kingston team. Learn a bit about Michelle’s background in our Q&A below.

What drew you to real estate?

A family friend owned a local real estate office, and I was very inspired and drawn to it. I started in real estate in 1990 and got my Real Estate Appraisal License in 1995.

What unique skills or professional experiences do you possess that enhance your abilities as a Realtor?

My real estate appraisal experience, along with over 25 years of experience in real estate, helps me to help others. I’m able to offer my expertise to homebuyers and sellers who need to make well-informed decisions throughout the process.

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

I think it’s important to be fully committed to helping people find their homes. Homebuyers need someone who is dependable and steadfast. Also, I love working with sellers to get their homes sold. Sellers need an agent who is detail-oriented and dedicated.

Which areas do you serve, and what do you love about this area?

I love the Pacific Northwest. Everyone is so friendly, and it’s wonderful to be surrounded by nature. I serve Kitsap County and the surrounding area and have experience in Kitsap, Jefferson, and Clallam Counties.

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

I moved here in 2016. My mother and my son brought me here. I really enjoy living here and plan to get more involved in the community.

What made you decide to work with Windermere?

I love Windermere Real Estate’s programs, such as the Windermere Ready program for sellers. Windermere also offers many opportunities to grow.

 

Visit Michelle Mundee’s website to learn more. Welcome to Windermere Kingston, Michelle!

Sellers • October 11, 2022

Should You Renovate Or Sell Your Home As Is?

by Windermere Kingston
renovate-or-sell-home-family

You’ve decided to sell your home, so should you renovate or sell your home as is? As with all decisions, there are pros and cons to each choice. If you choose to renovate your home, it will most likely sell for a higher price and faster, but remodeling projects can be costly. And, some don’t have a high return on investment. If you choose to sell your house as is, you save money in the short term but you could miss out on making more money on the sale of your home. It’s important to understand the factors involved and work with your real estate agent.

Home Remodel Cost Analysis

One of the most important factors is the cost of home remodeling projects. First, how much are you willing to spend? Second, can you expect a decent ROI when you sell your home? Thankfully, you don’t have to figure this out on your own. Your local real estate agent is a great resource and should be an expert on the local market. It’s their job to evaluate your home and to know which remodels are most beneficial in your area.

Doing A Home Remodel

If you decide to move forward with renovations, the next decision to make is whether you can DIY or if you need to hire a contractor. If you are qualified, can you dedicate the time required to finish the project within your home sale timeline? While hiring a contractor costs more, it may be worthwhile. You may want the peace of mind of working with a professional, especially for highly technical projects.

According to the Remodeling 2022 Cost vs. Value Report, on average, homeowners paid approximately $27,000 for a midrange bathroom remodel and it had a 58.9% ROI.  For a minor kitchen remodel nationwide, they paid about $28,000 and it had a 71.2% ROI. These numbers indicate that you can recover more than half to a third of your costs. For your home, simpler upgrades that increase your home’s value may be better. Consider painting kitchen cabinets, refinishing hardwood floors, or installing new bathroom tile. After you’ve updated or renovated, your agent can help determine the price of your home.

Selling Your Home As Is

If you decide not to remodel your home, you may ultimately sell your home for less. But you won’t have to deal with the costs and headaches that come with renovations. Plus, remodeling a home you are about to sell means you won’t get to enjoy any of the upgraded benefits. Where’s the fun in that? Lastly, choosing not to remodel or make any upgrades will impact what you get for your home and your home-buying budget. It’s important to remember the costs of buying a new home.

Market Conditions

Local market conditions are another factor to consider when deciding whether to renovate or sell your home as is. In a seller’s market, you most likely will still be able to sell your home for a great price without investing time and money into remodeling. Due to strong demand and limited supply, high competition among buyers will drive up prices. However, you’ll still have to take steps to prepare like making necessary repairs. And, staging your home gives buyers a great first impression and helps them easily imagine themselves in the space. That being said, sometimes certain projects like adding stone veneer to your home’s exterior (119.5% recouped at resale) or replacing your garage door (117% recouped at resale) can really increase the value of your home.

Here in Kitsap County, we still have a seller’s market. Though we are seeing a shift in the market, there are still serious buyers. Watch our video below to see our 3rd quarter market stats.

Waiting

If you’re still not sure what to do and you’re not working within a tight timeline, you could wait. This will give you more time to weigh your options and prepare for a future sale. With more time, you’ll be able to plan for any needed projects at a more relaxed pace.

When deciding whether to renovate or sell your home as is, Windermere Kingston has highly rated, experienced local real estate experts available to help. Take some of the pressure off and contact us today.

Sellers • May 16, 2022

Windermere Ready Program: Increase Your Home’s Sale Price

by Windermere Kingston
windermere-ready-home-sale

Preparing your home to make a great first impression is the best way to increase the sale price. The Windermere Ready program was created for home sellers to specifically address this important selling point. With guidance from a local expert, our program prepares your home to really impress potential buyers. And, if you need financial assistance, we can provide it so that you can make necessary home repairs and improvements.

Sell Faster and For More

In general, making necessary repairs and upgrades helps homes sell faster and for more money, sometimes even above the asking price. A great first impression transforms a buyer’s interest into excitement. Of course, every home is unique, but taking action is the key to success.

The Windermere Ready program provides:

  • A personal, customized consultation
  • A home plan designed specifically for your property
  • Recommended high impact updates
  • Professional staging

Overall, buyers want stylish, turnkey homes. Yet, some buyers also look for specific amenities and comforts. As a result, knowing what repairs and upgrades will result in the biggest return on your investment is challenging. That’s why the Windermere Ready program offers a personalized approach. One of our local real estate experts will work with you to identify the next steps while keeping your timeline and needs in mind.

After crucial repairs and key upgrades are determined, one of our Windermere Kingston real estate experts will create a customized action plan. Working with an experienced professional will help you avoid costly mistakes and make your life easier by recommending excellent local service providers and coordinating access to your home.

Make Improvements That Matter

For a buyer, sometimes small improvements make the biggest impact. A colorful garden and a fresh coat of paint give your home eye-catching curb appeal. Simple changes such as refinishing the flooring and making cosmetic updates provide a welcoming atmosphere and help make a house feel like home.

Simple improvements we focus on:

  • Landscaping
  • Lighting
  • Decorative Window Features
  • Painting
  • Floor Repair/Refinishing
  • Fixture Repair or Replacement
  • Cosmetic Updates

Cleaning strategies we focus on:

  • Window Washing
  • Power Washing
  • Carpet Cleaning/Replacement
  • Decluttering
  • Professional Deep Cleaning

Staging Your Home is the Finishing Touch

Make the most of your home repairs and updates by adding a finishing touch — staging your home. With the help of professional stagers, you can increase your home’s sale price. Staging is the final detail that leads to the best first impression and helps buyers picture themselves living there. In fact, staged homes sell 87% faster and for 17% more than non-staged homes.

We’re Invested in Your Success

If helpful, we can assist with expenses by providing a loan of up to $50,000. There are no upfront costs and no monthly payments during the six-month loan term. As soon as your home sells, the loan is paid off in one lump sum. For more details about how the Windermere Ready loan can help your home make the best first impression, please contact us today.

Sellers • December 13, 2021

Costly Mistakes to Avoid When Selling Your Home

by Windermere Kingston
home-seller-for-sale

Selling a home can often be a confusing, stressful process. Legal jargon and selling costs can make it challenging and time-intensive for the average seller. And, mistakes made during this process can eat away at your hard work. The good news is, you can avoid these costly pitfalls so that it goes as smoothly as possible.

Unaware of Various Costs

Underestimating selling costs is one of the most common mistakes sellers make. Selling costs such as commission fees, home inspections, repairs, and staging are typical parts of the process. You’ll want to calculate all those costs when researching the right price for your home. Although an extra cost, hiring a certified real estate agent to help you through the process can yield a higher return on investment vs. selling your home on your own. 

Not Fixing Up Your Home Before Selling

You want to give your property the best chance on the market. Your home will lose value if there are significant issues that haven’t been addressed. Investing in repairs will help increase its value. Failing to address or even trying to hide any problems can result in disastrous consequences. If you can’t invest in repairs, be upfront and transparent about any damages or issues.

If you’re simply thinking of selling down the road, start repairs and upgrades now. Check out our article on Home Renovations That Return The Most At Resale. 

Neglecting to Stage Your Home

Although staging your home may seem like additional, unnecessary costs, it tends to pay off. Staging your home will help you create an excellent first impression. Staged homes help potential buyers envision themselves living there, which can speed up the selling process. The return on investment from staging your home is typically too good to pass up. The cost of staging an average home is typically 1% of the sale price but can lead to considerable gains. A 2020 study conducted by the Real Estate Staging Association revealed that 3 out of 4 buyers saw about a 5 – 15% return over the asking price. Additionally, neglecting to stage your home could have adverse effects. Buyers may be less likely to want to tour your home, decreasing competitiveness. 

Not Keeping Buyers in Mind

Selling a home is very similar to working in the customer service industry. To generate awareness of your product, you’ll need to keep buyers’ wants, needs, and schedules in mind. Professional staging, photography, and carefully crafted marketing materials all help you capture buyers’ attention. Offering open houses and private tours at different times accommodates their busy schedules. Having important information about your home readily available builds confidence and increases buyers’ interest in your home.

Not Carrying Proper Insurance

It is crucial to carry the proper homeowner’s insurance. Insurance can cover you if any accidents happen during a home tour or inspection. It’s essential to confirm that your policy extends beyond the period of moving out of the home to ensure protection. Additionally, taking steps to safety proof your home during open houses will help prevent potential issues. 

Not Choosing the Best Offer

Choosing the best offer doesn’t necessarily mean selecting the biggest payout. It’s important to work with your agent to understand the full terms of the sale. Contingencies and whether the terms align with your needs should be made clear upfront. Additionally, you’ll want to vet all buyers as well. Typically, competitive buyers will get pre-approved to ensure they can purchase the home. Discuss closing costs, expectations, a proposed timeline, and deadlines to ensure you choose the best offer. 

Windermere Kingston • March 3, 2021

New Agent Spotlight: Savannah Moran

by Kara Wyman
Savannah Moran quote Windermere Kingston

With a passion for real estate and the professionalism and positive energy to match, Savannah Moran is the kind of agent many buyers and sellers would love to work with here in North Kitsap. She’s new to our Windermere Kingston office, and we’re excited to feature her. Read on to find out about her interesting background, her professional experiences, and more.

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

In my previous career, I was a Landscape Architect. This design background really allows me to creatively see the inherent qualities in each property to help my clients see its full potential.

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

I think being friendly, kind, and super organized are the most important traits to have in real estate.

What drew you to real estate?

I absolutely LOVE the process of finding the perfect home for my clients! My skills preparing listings are sharp as well. Whether selling or listing, I really enjoy the collaborative process from start to finish.

Which areas do you serve?

I am primarily serving North Kitsap County. It has such incredible raw natural beauty; it makes each day an adventure.

Savannah Moran beach ocean

How long have you lived here?

We’ve only lived in Kingston for one year. My mother lives nearby in Indianola and we’ve absolutely fallen in love with visiting over the past seven years. We had to make the move from Seattle permanently and we are so happy we did last winter, just before COVID-19.

How are you involved in the community?

With COVID-19 taking over all human interactions, my community involvement has been so limited. But I can’t wait until things normalize in the near future. I hope to be involved with PTA and school volunteering as soon as possible.

savannah moran family

What made you decide to work with Windermere?

I have always known Windermere is the best possible agency to work with. When I got the opportunity to work with and be mentored by Catherine Arlen at Windermere Kingston, I did not hesitate to move my license immediately.

We’re so glad Savannah Moran has joined our Windermere community of professionals! If you’d like to connect with her, you can do so through her website and on Facebook.

Kitsap Statistics • Windermere Kingston • October 27, 2020

North Kitsap’s Market: Third Quarter Review and Forecast

by Kara Wyman
North Kitsap market graph q3

North Kitsap’s market had a very 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 strong seller’s market here in North Kitsap. Inventory remains low while demand is high. In our third quarter, the median sale price was up 9% year-over-year at $508K. Buyers should be aware that multiple offer situations have become more common in our area. Our Brokers have seen an increase in situations where some buyers are outbid either by price or by an all-cash buyer.

north kitsap market graph q3

north kitsap inventory graph q3

north kitsap market stats q3

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)
  • In Kitsap County, 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.”

 

 

 

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