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Is a Fixer Upper Right for You?
Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.
What Is a Fixer Upper?
A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like replacing a roof or updating plumbing.
Because they need some elbow grease, these homes typically have a lower price point, based on local market value. In fact, a survey from StorageCafe explains that fixer uppers generally cost about 29% less than move-in-ready homes.
And that’s why, according to a recent survey, more buyers are considering homes that need a little extra work right now (see below):
If you’re looking for an option to get your foot in the door, and you’re willing to roll up your sleeves and do a bit of work, a house with untapped potential may be a good option.
Tips for Buying a Home That Needs Some Work
Before you buy a home that may need a makeover, here are a few things to keep in mind:
- Choose a Good Location: You can repair a house, but you can’t change where it is. Make sure the home is in a neighborhood you like or one with increasing property values and a growing number of local amenities. This way, even after you spend money fixing it up, the house will be worth more later.
- Budget for Surprises: Fixing up a house can take more time and money than you might think. Make sure you save room in your budget for unexpected repairs or other unknowns that might come up while you’re working on the house.
- Get a Home Inspection: Before you buy, hire an inspector to check out the house. They’ll help you determine the necessary repairs, so you don’t end up with expensive surprises later.
- Plan Your Priorities: When deciding what to tackle first, it helps to categorize your goals. Think of your home in three ways: the must-haves (essential repairs), the nice-to-haves (upgrades that would make life easier), and the dream-state features (luxuries you can add later). This will help you prioritize and stick to your budget.
Remember, the perfect home is the one you perfect after buying it. By starting with a fixer upper, you have the opportunity to customize a home to your liking while saving money on the initial purchase price. With careful planning, budgeting, and a little bit of vision, you can turn a house that needs some love into your perfect home.
Real estate agents are great at finding homes with potential. They know the local market and can guide you to homes where smart upgrades can add value. With their help, you’re more likely to find a house that fits your total budget and has room for worthwhile improvements.
In today’s market, where the cost of homeownership can be intimidating, finding a move-in-ready home that fits your budget can feel like a real challenge. But if you’re open to putting in a little work, you can transform a fixer upper into your ideal home over time. Let’s explore what’s possible and find a place that’ll work for you.
Don’t Let Fear or Uncertainty Hold You Back From Achieving Your Goals
How Real Estate Agents Take the Fear Out of Moving
Feeling a bit unsure, or even afraid, to move with everything going on right now? The decision to move shouldn’t be scary, it should be exciting. And the best way to eliminate any fear is to work with a pro.
As Real estate agent professionals we are so much more than just transaction facilitators; we’re trusted guides to help you navigate the complexities of the housing market with confidence and ease. And a great agent can turn what may feel like a daunting process into a manageable—and even enjoyable—experience.
That’s why, in a Bright MLS survey, respondents agreed partnering with an agent is essential and helps cut down on their stress:
Here are just a few examples of why our expertise can give you so much peace of mind.
1. Explaining the Current Market
You may be seeing misleading headlines about a potential market crash, falling prices, and more. And when you’re not an expert yourself, it’s easy to get swept up in the clickbait and let that scare you. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:
“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”
As a real estate agent professionals, we’re there to help you separate fact from fiction and to debunk any headline that does more to terrify than clarify. With a deep understanding of local market trends, home values, inventory levels, and more, we can help you feel more confident in your decision.
2. Walking You Through the Process Step-by-Step
Is this your first time going through the process as a buyer or a seller? Don’t worry. Should you choose to work with me, I will walk you through every step along the way, from the initial conversation all the way to closing day. As NerdWallet explains:
“If it’s your first time buying — or selling — you’re likely to come across terms you don’t recognize and tasks that seem baffling. What’s the difference between pending and contingent? Why do you need title insurance? How thoroughly do you need to fill out disclosure forms? Your agent should be able to confidently and competently explain it all.”
And if you’ve done this before, but it’s been a while, I will tailor it to your needs. I won’t bog you down with details, but rather give you as much of a refresher as you want and need.
3. Advocating for Your Best Interests
Does the thought of dealing with the back and forth of the transaction make your palms sweaty? Put that anxiety aside. As a real agent professional, I am skilled negotiator trained for these exact scenarios. And the best part is, I work for you. So, it’s your goals I will be negotiating to fight for.
I’ll work to secure the best possible terms for you, whether it’s getting a better price as a homebuyer or negotiating a higher sale price as a seller. This removes the fear of a bad deal or being taken advantage of during the process.
4. Solving Any Unexpected Problems Quickly
Worried something is going come up that you don’t know how to handle? Rest assured, I’ve agent has you covered.
As a skilled problem-solver, I’ll not only address issues, but get ahead of them before they become deal-breakers – and that helps keep the process on track. So, if any challenges do pop up, know I have the skills and experience necessary to find a solution that works for you.
Let’s connect so you can move forward with confidence.
Real Estate in an Election Year
With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down.
Election Years Bring a Temporary Slowdown
In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day.
Home Sales Bounce Back After the Election
The good news is these delayed sales aren’t lost forever—they’re just postponed. History shows sales tend to rebound after the election is over. In fact, home sales have actually increased 82% of the time in the year after the election.
What To Expect in 2025
If history is any indicator, that means more homes will sell next year. And based on the latest forecasts, that’s exactly what you should expect. The housing market is on pace to sell a total of 4.6 million homes this year, and projections are for 5.2 million total sales next year. And that aligns with the typical pattern of post-election rebounds.
It’s important to remember that while election years often bring a short-term slowdown in the housing market, the pause is usually temporary. Those sales are not lost. Data shows home sales typically increase the year after a Presidential election, and current forecasts indicate 2025 will be no different. If you’re waiting for a clearer picture before making a move, just know that the market is expected to pick up speed in the months ahead.
Ready to Shine! New Listing Alert!
This home is sparkling and ready to shine.
Home maintenance and yard prep ✔️
Home professionally cleaned ✔️
Carpets professionally cleaned ✔️
Home staging complete ✔️
Photography & videography complete ✔️
Contractor box removed and keybox placed ✔️
Marketing flyers placed in home ✔️
Open house flyers delivered ✔️
Sign up ✔️
We’ve put in all the prep work, and now it’s time to share!
Planning To Sell Your House in 2025? Start Prepping Now…
If your goal is to sell your house in 2025, now’s the time to start prepping. Even though it might seem like there’s plenty of time between now and the new year, you should get a head start on any updates or repairs you want to make now. As Danielle Hale, Chief Economist at Realtor.com, says:
“ . . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list . . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.”
By starting your prep work early, you’ll give yourself plenty of time to get your house market-ready by the end of the year. But be sure to partner with your trusted local agent (me!) before you get started, so you have expert insight into what repairs are worth it based on your local market.
Why Starting Early Is Key
To get the best price and sell quickly, it’s important that your home looks its best. And that means it’s up to you to make the necessary repairs, declutter, and even consider updates that could add value as part of getting your house ready to list.
By starting now, you can tackle things one task at a time. Whether it’s fixing that leaky faucet, refreshing your landscaping, or painting a room, getting an early start gives you the flexibility to do the job right and with as little stress as possible. Because, if you wait to knock items off your list later on, they could quickly stack up and get overwhelming. As Realtor.com explains:
“There are some important repairs to make before selling a house, so don’t be in too much of a hurry to get your home listed … if you move too fast, buyers see right through the fact that you skipped important home renovations. And this . . . might end up costing you time and money.”
What Should You Focus On?
Feeling motivated to start chipping away at that to-do list, but not sure where to start? Here’s a look at the most common improvements other sellers are making today (see graph below):
And while that data gives you a starting point, it shouldn’t be seen as a comprehensive list. I help my clients focus on where to spending money on areas that will likely yield them a higher return based on our local data vs. focusing on those items that won’t offer as much return. This type of expert eye has been critical in helping my clients sell their home faster and for top dollar.
Thinking of selling your house next year? Don’t wait until the last minute to get it ready. By getting a head start now, you can ensure everything is in place by the time the new year rolls around.
Need advice on what to tackle first? Let’s connect.
Declutter or Keep?
When faced with a move, people often begin to re-evaluate their belongings. Should you declutter before you go? Perhaps this fresh start in a new home deserves a fresh start with new belongings too. Maybe the hassle of moving across the country with truckloads of items just doesn’t seem appealing or cost effective. It is likely your current belongings won’t fit in your new space anyways. Plus, if you are selling, a staged home tends to sell for more than it’s un-staged counterpart. Yes, you should declutter before you go.
If you have found yourself here, it is time to start decluttering and deciding which items you can part with and which you can’t live without. But how do you get rid of it all? Follow along below for key insights into making a successful yard sell and offer some of my favorite places to donate in Skagit and Snohomish Counties.
Host a Yard Sale
Hosting a yard sale is an excellent way to give a second life to your unwanted items, lighten your moving load, make room for new possessions, and potentially generate a little extra cash for the move. Here are some tips to ensure your yard sale is a success.
Separate Sell Items from Keep Items
Apart from keepsakes and heirlooms, a good rule of thumb is if you haven’t used something in over a year it is probably something you can live without and can contribute to the get rid of pile. Another approach is if an item no longer brings you joy or an inkling of excitement then it is likely past its life with you but could bring joy to someone else. Add it to the get rid of pile! Be sure to separate the items you are parting with from the items you are keeping. If you wish to be extra organize sort piles by price ranges. Try color coding your items with stickers to demonstrate your selling price.
Price Flexibility
Keep in mind that people like to negotiate the price. Determine now what items you are willing to negotiate on and which items you don’t feel there is room to budge. Price accordingly. Remember yard sales are not meant to get rich from, but instead helping to reduce your moving load and offer extended life to your unneeded items to keep them out of the waste plants.
Generate Neighborhood Excitement
Plan your yard sale in advance. It is likely you have friends and neighbors that have stuff they would like to part with too. Make it a neighborhood event so that multiple yard sales happen on the same day and same time. Together you can pitch in for signage that can be posted around town directing traffic to your neighborhood yard sale. This will attract more buyers and reduce your overhead costs. At the end of the sale, celebrate your success with a neighborhood gathering like a BBQ dinner or potluck.
Promote Your Neighborhood Yard Sale on Social Media
Boost the visibility of your yard sale by leveraging social media and neighborhood apps. Start by creating a Facebook event page and inviting all your friends. Share the event on Twitter with a fun hashtag and offer a prize for those who repost about your sale. Post a carousel of the items for sale on Instagram to attract more attention. Additionally, use Nextdoor or another neighborhood app to reach people beyond your immediate area. No matter what knick-knacks you uncover, expanding your audience will help ensure they find the right home. You might also wish to list your items on Facebook Marketplace or your local Buy Nothing groups. Check in your local area for local consignment shops that will sell your items for you and you receive a portion of the sale price in return.
Payment Options
Keep in mind that most people don’t carry cash anymore. It pays to have a variety of payment options so that negotiators can’t finagle your price due to lack of cash on hand. Try offering PayPal, Venmo, Zelle, or another form of digital payment. You will likely discover more sales and turn passer-buyers into buyers.
Donate your leftovers
The final step to declutter before you go is immediately after your sale, bag up the leftovers and take them to your local donation center. Otherwise, they will find their way right back into your house, garage, or storage and you will end up paying to transport them to your new home. Here is a list of several donation centers in Skagit and Snohomish Counties.
Arlington:
Skagit Valley:
North Cascades:
Anacortes:
Housing & Economic Update: Key Numbers to Know 10/7/2024
Windermere Principal Economist Jeff Tucker takes a look at the numbers in the Oct. 4 jobs report, how it impacted mortgage rates, and his prediction for rates in the coming months. Click HERE to watch his prediction.
This Is the Sweet Spot Homebuyers Have Been Waiting For
After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.
So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.
As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?
The truth is, if mortgage rates continue to ease, as experts project, more buyers will jump back into the market. A survey from Bankrate shows over half of homeowners would be motivated to buy this year if rates drop below 6% (see graph below):
With rates already in the low 6% range, we’re not terribly far off from hitting that threshold. The bottom line is, that when they drop into the 5s, the number of buyers in the market is going to go up – and that means more competition for you.
That increased demand will likely push home prices up, which could potentially take away from some of the benefits you’d gain from a slightly lower interest rate. As Nadia Evangelou, Senior Economist and Director of Real Estate Research at the National Association of Realtors (NAR), explains:
“The downside of increased demand is that it puts upward pressure on home prices as multiple buyers compete for a limited number of homes. In markets with ongoing housing shortages, this price increase can offset some of the affordability gains from lower mortgage rates.”
So, while waiting to buy may seem like a smart move, it could backfire if rising prices outpace your savings from slightly lower rates.
What This Means for You
Right now, you’ve got the chance to get ahead of all of that. Today’s market is a buyer sweet spot. Why? Because a lot of other buyers are waiting – which means not as many people are actively looking for homes. That means less competition for you.
At the same time, affordability has already improved quite a bit. Recent easing in mortgage rates has made homeownership more accessible. As Mike Simonsen, Founder of Altos Research, says:
“Mortgage payments on the typical-price home are 7% lower than last year and are 13% lower than the peak in May 2024.”
And while the supply of homes for sale is still low, it’s also higher than it’s been in years. According to Ralph McLaughlin, Senior Economist at Realtor.com:
“The number of homes actively for sale continues to be elevated compared with last year, growing by 35.8%, a 10th straight month of growth, and now sits at the highest since May 2020.”
This means you now have more options to choose from than you’ve had in quite a while.
With fewer buyers in the market, improving affordability, and more homes to choose from, you have the chance to find the right one before the competition heats up.
Why Waiting Could Cost You
If you’re waiting for the perfect time to buy, it’s important to understand that timing the market is nearly impossible. The longer you wait, the higher the risk that market conditions will shift—and not necessarily in your favor. As Greg McBride, Chief Financial Analyst at Bankrate, says:
“It’s one of those things where you should be careful what you wish for. A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”
Bottom Line
Don’t wait until you have to deal with more competition and higher prices – you already have the chance to buy a home while we’re in the sweet spot today.
New Price!!
NEW PRICE!!!!
This mid century style home in Anacortes has a composite deck that wraps north to east for views of the ever-changing beauty of Fidalgo Bay and snow-capped Mount Baker. It’s the perfect spot to watch the July 4th fireworks, sailboat races and spectacular sunrises. This 4-bedroom house with primary on the main floor has 3/4 baths on both floors with an efficient layout & lots of storage.
3819 Terrace Dr. Anacortes, WA 98221
$799,000
For more info:
Danielle Martin 360.420.6807
More photos HERE & video tour HERE!
How Long Does It Take to Close on a Home?
How Long Does It Take to Close on a Home?
The time it takes to close on a home can vary depending on several factors, including the specific circumstances of the home purchase and the parties involved. On average, it typically takes around 30 to 45 days to close on a home after the purchase agreement is signed. However, it’s important to note that this is just an estimate, and the actual timeline can be shorter or longer depending on various factors, such as:
- Mortgage Financing: If you’re obtaining a mortgage to purchase the home, the timeline can be influenced by factors such as the lender’s efficiency, the complexity of the loan application, and any potential delays in obtaining the necessary documentation or appraisal.
- Home Inspection and Appraisal: The time it takes to schedule and complete a home inspection and appraisal can impact the closing timeline. If any issues or discrepancies are found during these processes, it may require additional negotiations or repairs, which can extend the closing timeframe.
- Title Search and Insurance: A title search is typically conducted to ensure there are no outstanding liens or claims on the property. This process can take a few weeks, and obtaining title insurance may also be necessary, which can add additional time.
- Contingencies and Negotiations: The presence of contingencies in the purchase agreement, such as a home sale contingency or repairs requested by the buyer, can affect the closing timeline. If negotiations or resolutions are required, it may lengthen the closing process.
- Local Factors and Seasonal Variations: The time required to close on a home can vary depending on local customs, regulations, and the workload of the professionals involved, such as real estate agents, lenders, and attorneys. Additionally, certain seasons or times of the year, such as holidays or peak buying seasons, can result in increased demand and potentially longer closing times.
It’s essential to work closely with your real estate agent, lender, and other professionals involved in the process to get a more accurate estimate of the closing timeline for your specific situation.
