Sellers – WestSound Live! http://westsoundlive.com Sponsored by Homefront Realty Tue, 22 Aug 2017 10:00:02 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.1 BREMERTON REAL ESTATE MARKET UNDERWATER – STILL http://westsoundlive.com/bremerton-real-estate-market-underwater-still/ Thu, 15 May 2014 15:32:27 +0000 http://westsoundlive.com/?p=2731 Everyone is wondering why there is no inventory.  Why sellers are not listing homes when there seems to be plenty of buyers.  Some have speculated that the reason could be because sellers are afraid they won’t be able to find another home to move up to.

Here in Bremerton prices have not risen fast enough and the decline in the number of underwater homeowner – those who owe more than their home’s market value has not declined as quickly as some real estate experts had expected.

Currently it doesn’t matter if your home is in decent condition and in a decent location you still will not be able to get what you purchased your home for in 2006.  Or 2005 or 2007.  You will only be able to get “top dollar” at today’s disappointing median list price.

Research from Zillow shows that the Bremerton zip code of 98310 has 38% of homes still underwater with 7% of those owners being delinquent on their mortgage.  Zillow gives this Bremerton zip code a home value index of $172, 800 and -28% less than the peak.

The Bremerton zip code of  98312 has 33% of homes underwater with a 7% delinquent rate and a home value index of $183,000 which is -25% less from the peak.

If you property is Bremerton zip code 98311 there are 32% of your neighbors still underwater and 6% of them delinquent on their home loans.  The home value index is $218,800 and -21% less than the peak.

So over a third of Bremerton homes are still underwater and worth at least  -21% from the peak of the market.  That is a lot of houses!  A lot of owners that just might like to sell.  I personally would love to sell and purchase another home.  We bought in 2006, just a tad under the peaked out price.  We are still about 15% underwater and that is AFTER we have put $12,000 worth of improvements into the property.  There will probably be no way in my life time to see a “profit” on this property.  Someday it probably will become a rental.

I say the reason Sellers are not listing homes is because THEY CAN’T! They are STILL UNDERWATER!

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7 THINGS THAT WILL STOP YOUR HOME SALE http://westsoundlive.com/7-things-that-will-stop-your-home-sale/ http://westsoundlive.com/7-things-that-will-stop-your-home-sale/#comments Thu, 01 May 2014 20:52:52 +0000 http://westsoundlive.com/?p=2721 7.  Display it all!  Cover every wall with personal photos.  Hang your portrait over the master bed.  Make sure your kitchen counter has every “as seen on TV” small appliance ever sold sitting out with pride.  That Matchbox car collection will look awesome on the fireplace mantel in the bonus room.  Get out those gnomes and put them all over the yard.  Have some pink flamingos, they love gnomes!    Oh, and two words – Princess House!

 6.  Wallpaper from the 1980?s.  You must have at least 3 bedrooms, the entry and the hall way all in blue and mauve floral along with some dark green and white strip to show off that matching bedspread and shower curtain!

5.  Leave dirty dishes in the sink.  Is that dishwasher full of clean dishes?  Perfect!

 4.  Install “Beware of Dog” signs.  As I walk up to the door and see one, two then three beware of dog signs I am over excited to use my key to open the lock box.   Is there really a dog?  Should we open the door?  I forgot my dog biscuits today!

 3.  Install orange shag carpet.  Enough said.

  2.  Make sure your home stinks.  I have lost count how many times a buyer has asked me the question, “Is that cat pee I smell?”  Pet odors are something buyers have a keen smell for.  Pet odors and cigarette smoke smell, oh, and when you have both we probably won’t make it past the entry way.

1.  Price it HIGH!  Forget about what the market analysis shows.  Test the market with a price that is $50,000 over the CMA estimate.  I don’t take over-prices listings.

 

You know I was just being silly here, but you would not believe how many times I have taken buyers to properties and seen some or smelled some horrific things.  This is why when you list with me I will go over your property with you and make suggestions on what you need to do.  You will be moving so pack some stuff away, hire a service to get the home sparkling clean, do some updating so you will get the price you deserve.  Its not hard, but there will be some chores.

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