Scott Morton Real Estate Broker at Coldwell Banker Danforth

I am often asked by homeowners getting ready to sell their home what improvements they should make to increase the selling price. Although not all homes are the same, the chart below, recently published by Home Remodeling Magazine will give you the national average of what you might expect in increased value when selling your home.

Believe it or not, there are very few larger projects that will pay you back more than 100% of what it cost (based on hiring contractors to do the work). Having a nicely updated home will make it easier to sell quickly and for a higher price, but if it cost more than you will get back, it may not make sense to make the improvements. Focusing on deep cleaning, fixing deferred maintenance, decluttering, organizing and yard cleanup is always important. If your home definitely needs a new roof, carpet or paint those items should pay you back more than 100%. Be very careful to select roofing products and carpet appropriate for the price of your home. Exterior and interior paint color choices are very important. If you want information on the latest trends I am always here to answer questions.

Here is a link to an calculator from Ticor Title that will help calculate the local and State Excise Tax together:

https://dor.wa.gov/find-taxes-rates/other-taxes/real-estate-excise-tax

Cheers to 2020!

Real estate excise tax | Washington Department of Revenue

The Real Estate Market is finally showing signs of hope for Home Buyers! The past couple of years with low inventory and high demand made for a “Seller’s Market”. In a Seller’s Market, Buyers are often forced to make a combination of crazy high offers, come up with all-cash and/or drop contingencies to compete. If that was you, now may be a good time to get back to your search. Local statistics are showing longer on-market days for many homes and condos. With the holidays approaching some of this slowing is seasonal. While many buyers hunker down and wait for the spring market, consider taking this time of year to have less competition. The high demand for Puget Sound area jobs will keep local housing demand strong. If you would like to purchase a home, I would encourage you to use this time of year when competition is not as active to get active. You may find it to be the best time of year to secure a really good buy. Sellers who have their homes on the market between Thanksgiving and the New Year know that buyer traffic will slow considerably. They may be willing to negotiate more or be faced with a longer wait to get their home sold.

If you have questions I am here for you.

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