(Usually) What Happens In Real Estate Is Meant To Happen

I totally agree with this. I have often told buyers: "You get the home you are meant to have". I think that most seasoned real estate professionals would agree.

Written by Leonard Steinberg - Chief Evangelist

A few years ago I found a gorgeous building site that I'd wanted to purchase to build a dream vacation home. It was perfectly perched close to a wonderful hotel with a restaurant where I envisioned starting my days after a hike in the magnificent natural reserve that abutted it.

At the time I was in the midst of a lawsuit where I was owed a rather substantial amount of money, and I feared taking on the risk of buying raw land was too great. So I decided to 'wait and see', and lo and behold, someone else swooped in and bought this gorgeous piece of paradise while I was snoozing. I was rather devastated. Land in a location like this is rare, and I would never, ever be able to replicate it.

Flash forward about a year later: my lawsuit was settled, and of course, I went back to see what had happened to my dream building site. Sadly, a natural disaster had destroyed the land leaving it un-buildable! I cannot describe the relief I felt knowing that had I owned that land, I would have been dealing with a shattered dream ....and potentially large financial losses too. I hate to say it, but my hesitancy to buy was 'meant to happen.'

I have seen this (somewhat similar) scenario play out many times over the course of my 20-plus years in real estate. Often, the 'one that got away' for a buyer turns out to be a blessing. It is 99% of the time followed (maybe not immediately, but eventually) by a better property. This just recently happened for buyers of mine and even they reminded me of my words when they lost their 'dream home'......the day they found their REAL dream home a few months later.

Here are some interesting stats about home buyers

Written by Leonard Steinberg - Chief Evangelist

Tom Ferry reminded us all that we in real estate are in the TRUST BUSINESS. Pretty much everything we do revolves around trust. And trust is often built from familiarity. I think that is very smart!

Here are some interesting stats about home buyers:

* 63% of home buyers are above the age of 39 years old.

* 21% are above the age of 64 years old.

*Over 94% of all homebuyers speak English as their primary language at home.

* Around 12% of buyers aged 29-53 years old were not born in the USA.

* At least 50% of homebuyers 39 years and older have owned a home prior to buying a new home.

* The largest percentage of homebuyers seeking a smaller home is above the age of 54 years old.

* Only around 2% of homeowners wished they had waited before buying a home.

* 86% of buyers buy existing homes, while 14% buy brand new homes.

* Over 50% of those aged 39 and under want a brand new home to avoid renovation, maintenance, and repairs.

* 38% of all buyers feel the same way.

* 82% of buyers buy a single-family, detached home.

* The average distance between a home purchased and the prior home is 15 miles. Above 64 years old it doubles, swaying averages. Under the age of 53, its under 11 miles.

* 58% of buyers said the neighborhood was their primary choice driver, followed by convenience to job sites, affordability, and convenience to friends and family.

* Just 5% mentioned public transportation.The largest percentage of homebuyers buying a home above $500k were aged between 29-53 years old.

* 68% of homebuyers bought a house 2,500sf or smaller. 18% bought homes larger than 3,000sf.

* 66% of the homes bought were older than 17 years.

* 22% of homebuyers compromised on the price and 20% compromised on the condition. 34% made NO compromises!

* Homebuyers aged 54-72 years old expect to stay in their homes for at least 20 years.

* 86% of buyers rely on an agent for information about their home search and 93% relied on online information.

* The average buyer spent 10 weeks searching and viewed 10 properties.

* The paperwork and understanding the process accounted for 36% of the most difficult buying steps.

* 87% of buyers rated photos as the most useful and valuable website feature.

* At least 60% of buyers were very satisfied with the home buying process.

* 87% of homebuyers used an agent/broker to buy.

* Buyers want the following mostly from agents: help finding the right home, negotiating terms and price.

Market Stats from October have arrived! With Chris Doucet | Compass

Market Stats from October have arrived! Available inventory in King County continues to drop and is down 23.48% from October last year. Closed sales in King County are up 5.31% from last year, but Seattle days on the market are up 30.4% from last year. This movement demonstrates that the market is still active and can offer excellent opportunities for savvy sellers and buyers to #findtheirplace. Consider how #Compassconcierge can help you sell your home to those ready buyers for more, and in less time, by transforming your home with zero upfront costs and no interest. We can also help you quickly realize your next dream home before you sell your current home with #Compassbridgeloans

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Tidying Up

Tidying Up 

As much as I admire Marie Kondo’s approach to living lean, I tend to want to hold on to things rather than items “of the moment”. I have classic clothes from the 1980s that are back in style and, luckily, still fit and am glad that I kept. 

Recently, my husband and I used the excuse of getting new carpeting for our lower level to purge lots of items, however. Moving to a new home is also the perfect time to declutter but often there are too many other details to address and unused things just get boxed and moved—never to be opened again. 

My clients and I have found a few resources that have worked well. 

Getting rid of Junk 

Rid of It did a great job recently to remove a garage full of items for a client just before closing. They were on time, efficient and professional. I will use them again. This is for things that have no real usable value for donation. 

Got to Go is another resource but I haven’t used them. 

Furniture Consignments 

A few of the old standbys (Estate Interiors and Consign Desgin) have closed up shop but my favorite, with the largest floor space in Seattle is Bell )’Occhio on Elliot in Interbay. They used to sell more traditional pieces but also have modern and mid century. 

Donating 

In addition to the usual Goodwill and Salvation Army, I have a new favorite for Women’s items recommended by a good friend, Simple and Just is a non-profit that sells lightly used donated clothing, shoes and accessories to benefit women and children who have experienced sexual exploitation. It makes me feel good to know that those designer items that no longer fit my lifestyle will find a new home with a buyer and the proceeds will go to a worthy cause that is local. Address for Simple and Just is 2213 Queen Anne Ave N 206.350.3390. 

Online selling 

The RealReal is my go to for selling (not donating) high-end clothing, shoes and jewelry. 

Local online selling 

Two clients have recently had great luck with Offer Up when Craigslist and Next Door got no results. Both clients had lovely, high end furniture items to sell and were happy with the results.

Pre-emptive Action

This from our Marketing Guru Leonard Steinberg, this morning, made me think of the countless clients whom I have represented who say the same thing once we have prepared their home for sale: "I love it and I wish that I had done this years ago. ". In fact, it happened to me this week. The seller liked her house a lot before but fell in love after some updates and minor staging. Luckily, lots of buyers are loving it too and we expect it to sell immediately. Seeing a home through our real estate broker lens is not always the way a client wants to live or can live in a home everyday but putting a different spin on furniture placement and accessories can enliven a whole home. A year or so ago, I helped a neighbor revamp a kitchen, paint the exterior and install railings and do some other basic updates to their home. They anticipated selling in 2020 and are enjoying the renovations now before they are ready to move on. Compass Concierge gives us many options to explore in helping sellers (or soon to be sellers) with this endeavor. Don't wait to get a refresh from your Compass connection before the holidays and be ready for a spring sale!

From Leonard:

Written by Compass Chief Evangelist - Leonard Steinberg

Saturday night I attended a rather memorable dinner party. One of the guests boldly proclaimed how she had had a facelift well before it became 'essential'. Not exactly the most politically correct or elegant words at a rather elegant dinner, but it made me think how too often homeowners - myself included - wait too long to refresh something in the house that may be better doing much earlier, BEFORE it becomes a real eyesore.

This post in no way is encouraging or even suggesting that anyone should get a facelift! I think doing so is a personal and private choice, and you should do whatever makes you feel good. This bold exclamation at dinner just made me think how often sellers think about renovating/upgrading to sell their homes when they could have done so sooner AND enjoyed the fruits of their labors for a few months or years. You know the seller who after cleaning up and fixing up their place for sale turns to you and says: "I want to buy this place now!" Wouldn't it be better and smarter to make our homes beautiful and desirable a lot sooner than the moment we decide to sell them? Keeping a home in pristine condition and current should be an on-going responsibility that is simply smart. It can also remove the panic (and potential additional costs) when things have to be done out of urgency.

The same applies to other things: cleaning up a desk or car before it becomes REALLY messy. Reaching out to your client-base well before you become less busy. Calling in a service for appliances before that odd noise turns into a breakdown. Addressing all these fix-its early and pro-actively can also be an effective stress reducer. Knowing you are prepared AND being able to enjoy your pre-emptive efforts fully are solid motivators to address things before they become urgent.