Maximize Your Return on Investment with Outdoor Living Spaces

 

Outdoor Living, Year Round

 

Western Washington is known for its relatively mild weather, but we do have seasons.  An outdoor living space that’s enjoyable to use during our Pacific Northwest summers may not be the most practical choice in the winter months. The solution?  An outdoor living space that can flex with the seasons.  My personal favorite is an outdoor living room with a partially covered patio or deck, an outdoor fireplace and an outdoor kitchen/grill area.  Add a little drama with large sliding glass doors or bi-fold walls that open to your outdoor living room from the inside.  By creating an outdoor living room that can be used year round, you essentially double your capacity for entertaining.

 

 

Adding Value with Outdoor Improvements

 

The best way to maximize your return on investment is to add outdoor amenities that are easy to maintain and usable rear round.  Adding a swimming pool may sound like an attractive idea right about now, but pools aren’t as practical in the Pacific Northwest as some people might hope.  Most potential buyers think pools will involve more work than pleasure.  That’s exactly what you do NOT want with an outdoor space.  When clients ask me for suggestions for outdoor upgrades that will add value, three things come to mind. 

     1. Functionality.  Make sure the improvements you have in mind will actually increase your usable space. 

     2. Lighting.  Put some thought into lighting for your outdoor living space and your landscaping.  I can’t overstate the importance of outdoor lighting.  It can add a completely new element to the mix, transforming an average outdoor landscape into a work of art. 

     3. Water features.  A well executed water feature can add more impact to your landscaping than you might think.  It doesn’t         necessarily need to be an elaborate waterfall.  An attractive plug and play fountain can do the trick.

 

Simple Exterior Upgrades to Consider Before Listing

 

Knocking out a few small weekend projects before putting your house on the market can have a big impact on your sale price at a relatively small cost.

     1. Garden bed clean up.  Weed the beds, prune the plants, shape the hedges and add some black mulch to give your garden beds a fresh, well-maintained look and create a nice, sharp contrast to your house and your lawn.

     2. Lawns.  Hopefully you’ve been fertilizing your lawn on a regular basis.  It’s a practice that’s often overlooked, but you’ll be thankful if you did it.  Either way, make sure your grass is mowed and edged.

     3. Staining.  If you have a fence or deck that’s been crying out for a face lift, spend a day or two and give it a quick pressure wash and a fresh coat of stain. Stain will make a HUGE difference.

 

 

If you’re thinking about putting your house on the market and you’d like some additional guidance from me, please don’t hesitate to give me a call.  I’m here to help.

 

Miles Eaton is a top-producing Realtor with Windermere Professional Partners, specializing in residential real estate in Tacoma, Gig Harbor, University Place and Lakewood.

 

Miles Eaton: (253) 355-5862

MilesEaton@Windermere.com

 

Posted on June 30, 2019 at 8:39 pm
South Sound Property Group | Category: Investing In Real Estate, Selling Your Home

Why selling your house in the winter may not be such a bad idea

Redfin recently conducted a study looking at more than 7 million home sales over the course of the past four years to determine what impact, if any, seasonality had on the sales process.  Not surprisingly, the study confirmed that listing your home for sale in the springtime was likely to result in a quicker sale and a higher sale price (see full study here).  What was surprising to some is that listing your home in the wintertime was a close second.

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

The study goes on to say:

“Buyers [in the winter] often need to move, so they’re much less likely to make a low-ball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”

That’s why we encourage our clients to have their houses ready to go on the market in late January or early February.  However, given the persistent shortage of housing inventory in the North End, we are telling our clients to list now if it makes sense for their schedule.  If you’re thinking about listing your home for sale in the next 6 months, keep in mind that most of your competition will choose to list their homes in the spring. Listing your home this winter could position you more favorably with motivated buyers who don’t have a lot of good inventory from which to choose.

 

 

Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.  Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.

 

Posted on December 7, 2016 at 11:54 am
South Sound Property Group | Category: Selling Your Home | Tagged , , , , , , , , , , , , , , , , ,

Severe Lack of Home Appraisers is Complicating Real Estate Transactions

Home inspectorDiana Olick of CNBC recently wrote an article that sums up the reason for frustration for many home buyers and sellers in the South Sound region.  Olick notes, 

“Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers.

That is causing growing delays in closings, costing buyers and sellers money and in some cases even scuttling deals.

The share of on-time closings has dropped from 77 percent last April to 64 percent today for loans backed by Fannie Mae and Freddie Mac, according to Campbell/Inside Mortgage Finance. Appraisal-related issues in these delays jumped by 50 percent in that time.”   (Read the full article here)

Our advice to our buyers and sellers is to factor in a minimum of 2-3 additional weeks time from what we would consider a normal 30 day closing.  It’s important to note that it’s become an even bigger problem for specialty properties such as waterfront, luxury and historic homes and for properties located in outlying areas such as southern Pierce and Thurston counties.  With lenders being forced to pay premiums for appraisals, we’re hopeful it will lead to more qualified appraisers being attracted to enter the field.  However, that transformation will not happen quickly enough to satisfy those of us that counsel home buyers and sellers every day.

 

Jeff Williams is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.   Click here to email Jeff or give him a call at 253-303-1135.

 

Posted on September 29, 2016 at 9:20 am
South Sound Property Group | Category: Buying A Home, Selling Your Home | Tagged , , , , , , , , , , , , , , , , ,

The Real Estate Market In the North End is Great… If You’re a Seller.

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Posted on April 13, 2016 at 9:16 am
South Sound Property Group | Category: Market Statistics, North Tacoma, Selling Your Home, Tacoma Real Estate | Tagged , , , , , , , , , , , , , , , , , ,

List of Considerations When Buying or Selling Horse Property

As a Realtor who also happens to be President of the Washington State Quarter Horse Association, I’m often asked to help clients who are purchasing or selling a horse property.  Buying or selling a horse property involves a special set of considerations above and beyond those associated with a typical real estate transaction.  Below is a list of things that I believe are critical to consider, things that can significantly affect a horse property’s value.

1.  Is the property impacted by wetlands?  Most counties in Washington State prohibit grazing animals on, building on or clearing of wetlands.  The presence of wetlands can also be an indicator of potential flooding.  If you’re searching for a home during the summer months, wetlands may not be readily apparent.

2.  If the property is served by a well, does the well produce enough water to accomodate the needs of a horse facility?  Making sure there is an adequate year round supply of water is critical.  It’s also important to verify that the water is not contaminated.

3.  Is the property zoned within its jurisdiction for the quantity of animals you intend to maintain?  If you plan to board horses for other people or run a tack shop from your farm, are those commercial activities allowed by the county?

4.  Is the land you intend to use for outbuildings and pasture cleared?  In Washington State, there are regulations regarding tree removal that can differ from county to county.

5.  How does the house interact with the barn and arenas?  In my experience, potential buyers don’t like it if the barn is sited too close to the house or too far away.

6.  Think about equipment storage.  The last thing you want to have to do is leave your tractors, trailers and tools outside in the elements, especially in Washington State.  Make sure the property can accomodate equipment inside or at least in a covered shed.

7.  Is the fencing sound?  Wood fencing is beautiful and we all love it for safety and appearance, but replacement and maintenance costs can be crazy expensive.

8.  Is the hay storage sufficient?  The last thing you want to coordinate is a monthly shipment of hay.  In Washington State, having a dry storage spot for hay is critical.  Fog and moisture in the air can easily mold perfectly dry hay.  Having a heated tack room is also important to help prevent molding of leather tack.

9.  Check on manure disposal regulations before you buy.  Many counties regulate manure disposal and storage, and this can be an added expense for the property owner.  I’ve seen some properties that require disposal in dumpsters.  You can imagine the costs associated with that.

10.  If additional residences for farm workers are located on the property, is the property zoned for multiple residences and can the septic systems legally accomodate those dwellings.  I’ve seen a number of properties where illegal septic systems have been installed to accomodate a mobile home for barn help because the zoning doesn’t allow multiple residential dwellings on site.

11.  Look for rot everywhere!  Poorly maintained structures that have improper wood to earth contact are frequently rotted.  Don’t buy a pole barn that is sitting on rotted posts.

12.  Consider the roads leading to the property.  I’ve seen lots of properties on poorly maintained dirt or gravel roads that are lined by trees.  Wind and rain are constant issues in Washington State so be sure that you can get a truck and trailer in and out during a storm and that emergency vehicles can get to you.  Otherwise, tree fall could leave you trapped at your property for days.

13.  Is the property wired for a generator?  If you’re dependent on electricity at the property, be sure you have a propane fueled back-up generator.  Losing your electric well pump and heat for the house after a major storm could become dangerous for you and your horses in fairly short order.

14.  Are the barns and outbuildings legally built?  By their nature, horse properties require barns, sheds, pump houses, etc.  I’ve often seen structures that have been built without permit and that are considered illegal by county officials as a result.  With these types of violations, you could be forced to remove the structures.   Make sure all outbuildings, especially covered arenas, were built with permits.

15.  Not so fast on adding that indoor arena!  Very few counties in western Washington allow large free-span covered arenas to be built in an area that’s typically zoned residential.  Check the codes before you buy a property with the intent to expand.

16.  Does the property qualify for or is it currently tax assessed as an agricultural business?  If the property is eligible for Ag status or if that is its current property tax designation, it can mean a significant property tax savings for the owner, but there are strings attached.  Be sure you understand what qualifies the farm for its agricultural designation.  If you’re selling an Ag designated property and the new buyer doesn’t continue that use, you may be responsible for property tax penalties when you sell.

17.  Lastly, is your Realtor a horse person?  Horse properties require specialized expertise so working with a Realtor who doesn’t understand the language and needs of equestrians will put you at a very real disadvantage.  There are a number of marketing tools that I use to get my equestrian listings sold quickly.  A Realtor who’s not familiar with equestrian properties won’t be able to offer you the same tools.

 

 

Jeff Williams has been riding and showing American Quarter Horses since childhood and is a top producing Realtor with Windermere in Tacoma, Washington.  To learn more about Jeff’s equestrian background visit his website Jeff Williams Quarter Horses.

Posted on November 15, 2013 at 1:08 pm
South Sound Property Group | Category: Buying A Home, Horse Property, Selling Your Home | Tagged , ,