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Tom Perry

Tom Perry

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Seattle’s Eastside 2019 1st Quarter Housing Market Report

(Published on - 4/2/2019 1:06:45 AM)

As we finish the first quarter of 2019, we can finally stop listening to the county, state and national housing statistics. The doom and glume of the reporters can be overwhelming. We all know that numbers are a tricky thing.  A sneaky statistician can make numbers say almost anything.  In my case, these are the numbers.  There isn’t any way I can manipulate them as they are easily verified. 

 

 

Here is your report in a nutshell. 

Homes SOLD: The number of properties SOLD and closed on the eastside during the 1st quarter of the year was 505 homes compared to 469 homes last year. This was an increase of nearly 8%.

SOLD Prices: The SOLD prices of homes stayed pretty flat.  A movement down just .23% from $880,000 to $878,000 for all styles, sizes and locations on the eastside.

Months of Inventory:  If there were no new listings, we would run out of homes to sell in 1.81 months.  This is a tighter market than 4th quarter last year which had a 2.58 months of inventory.

 

Notable Indicators:

  • The final SOLD price of homes was up slightly to a full 100% of the list price on average.
  • Months of inventory is very low under 1M but for homes priced over 2M it is over 7 months.
  • Only 24% of the SOLD homes were priced under $700,000.
  • First quarter of Jan 2018 to Jan 2019 saw home prices fall 8% to $878,000 but still enjoys an 11% 2-year increase.
  • Keep an eye out, home prices always see an increase in the 2nd and 3rd quarters.

 

These stats are for Bellevue, Redmond, Kirkland and Issaquah.  No new construction, condominiums, townhouses or manufactured homes.  Tom shares stats from as far back as 2012.  Contact To to receive numbers more fitting for your specific area.

 

Tom Perry was licensed and has been a full time REALTOR® since 1987. In that time, he has worked with hundreds of Sellers and Buyers.  Tom also, for 2 years was a transitional manager for a 100+ agent office. He has enjoyed teaching and training real estate agents with tips and technics for more effective and efficient customer service. So, Contact Tom when it’s time to set a plan for getting your home SOLD and purchase your next one.  His systems will get the job done with your best results.


In the past 6 years, Home prices have doubled!

(Published on - 3/6/2019 10:46:49 PM)

In the past 6 years, some prices have doubled in some neighborhoods on Seattle’s Eastside.

Is it time to make that move?  Growth has slowed and interest rates seem to be stable.

 

 

Check this out. In the past 6 years…

  • Homes priced under $500,000 have all but disappeared.
  • The number of homes SOLD priced over $1,000,000 has increased more than 400%
  • The median home SOLD in the area has a median increase of 60% in value. Some areas have doubled!

 

If it’s time to make that move and your making financial plans, don’t trust the online valuations.  They may be close and then again, they may be off by 20%, up or down.  Get real data from an experienced REALTOR and together you can analyze the numbers to come up with the price that will get your home SOLD and put the most money in your pocket.

 

It’s time to make a decision.

  • Home Prices have stabilized. In some places and price points they have dropped.
  • We currently are still in a Seller’s Market. (except for homes over $2 million)
  • Listing now will give you the best exposure and an extended close or rent back can give time to find your nest home.

 

Contact Tom Perry, to find out more about the Perceived Market Value of your home and receive a detailed Comparative Market analysis (CMA) of your home.  Tom understands the market, monitors its movement and will be a great asset when it comes time to make that move.  Pricing, presentation, marketing and strong negotiations are all on your side when you hire Tom.


Strategic Planning to Net Top Dollar

(Published on - 1/16/2019 9:56:59 PM)

A positive outcome and netting Top Dollar from the sale of your home is not by accident.  There is an important strategy involved.  I understand the importance of positioning, planning, home prep and staging, and pricing.  My team of professionals understands their importance in the process as well. 

 

Your part in the process is to make great decisions, with my guidance, that enhance your opportunity to get your home SOLD in a reasonable time for Top Dollar.  Use the following as a guideline to ensure that we don’t cut any important corners that can cost you thousands.

 

 

Strategic Positioning:

  • Study the current market and the trends in the market. What are people buying? 
  • Look closely at price point, square footage, age, style. Does your property fit the profile?  
  • Be careful! If your home is well above the size and price that people are buying in your area, it may take longer to sell and for less than you think.

 

Pro-Active Planning:

  • To Net Top Dollar for your home is not an accident, it takes planning and a pro-active approach by all of us.
  • I understand the market, the trends and how they will affect your price.
  • You must follow the pro-active plan and resist the urge to cut corners.
  • Together, you will agree on a plan of action and stick to it. Adjusting on the way as your situation dictates.

 

Home Prep and Staging:

  • Watch the “Prepare your home For Sale” video on my website.
  • Get a pre-List inspection of your home. We will go through the results and make arrangements for the defects to be repaired or replaced.
  • We will walk through your home, as if we were Buyers, and point out the tired, worn or outdated features in your home.
  • Our stager will come to your home and prepare it “For Sale”. She will stage the home in a way to let the buyer emotionally move in and feel at home.
  • The best homes, staged well, will always sell first and for more money!

 

Thoughtful Pricing:

  • Study the guidelines to pricing your home in my “Net Top Dollar” book before arriving at your price.
  • Look closely at the properties, comparable to yours that have recently SOLD. It’s important to be sure that they are same style, within 10% of the size, condition/upgrades and of course in the right price range.
  • We will use 3 markers when pricing your home; Dollar per square foot, tax factor and adjusted comparison to the closest, most recent, comparable properties.
  • This is not hit and miss.  It also is not a science.  Experience, the ability to understand the market and knowing how Buyers look at homes is so important.

 

Develop a Plan:

  • I have a basic plan of action to put your home on the market with the focus on netting Top Dollar.
  • We will customize the plan to fit your specific home, area or price point.
  • Go all out! There isn’t a short cut to netting Tom Dollar. 

 

If you are thinking about selling your home sometime soon, go to my website and schedule your personal consultation. 

 

Even if you are a year out.  It’s worth your time to get together.  I can keep you from spending “wasted” money on your home in preparation to putting it on the market.  Money that you will never get back and may not even make the property more saleable.

 

For your consultation, I will come to your home to listen closely to your objectives.  We will tour your home together, looking at the homes features and any defects you should address.  Then, I will show you the benefits of my pro-active marketing plan, lay out the options available to you and look at potential outcomes.  You can then decide on the path that works best for you.

 

I look forward to meeting with you.


Adding Real Value to your Home

(Published on - 1/16/2019 9:31:23 PM)

Sellers are always asking their agents how to add value to their homes.  They want to know the quick fixes that bring more money.  So, agents will walk through the home, room by room, pointing out the things that need to be improved, replaced or simply taken out of the home.

Sellers should think of themselves as a “Flipper”- an investor that makes the right changes in a home to net the most possible money.  What can they do to the home to make it perfect?  Walk through the home and look for what can be done from the floors to the ceilings and the roof to the yard.  Go to new homes that are priced 50% more than yours and see the materials, textures and colors they use.  Decide what to do, find great deals on quality materials and get a contractor to do the work.  The key is not to cut corners to save money. Yet don’t spend more than you have to on materials and labor.

A house with good street appeal.  Make sure your home looks like a million bucks from across the street.  Clean-up the landscaping, paint the exterior, clean the roof, driveway and walkways.  A nice touch is to paint the front door and replace the door mat.

A functional floorplan.  Buyers do not want to feel boxed in when they enter or walk through the home.  Quite often there is a wall that can be taken out for very little cost.  Sometimes there are doors that can be removed to allow easy flow from room to room.  Make sure the placement of the kitchen appliances allows a working kitchen.

Uncluttered, clean and staged for sale.  One rule that I have is that we can all remove 30% of what we have and still have more than we need.  Maybe there are too many chairs or tables in a room.  Possible it’s just how the furniture is placed in the room that makes it feel cramped.  Removing a chest and adding shelves in a bedroom closet makes the room look bigger.  Take 30% of the cloths out of the closets and thin out the cabinets and drawers. 

Move in condition.  Buyers really want a home that they can move in and have dinner.  I’ve not met the buyer that walks away from a perfectly wonderful home for one that needs work unless they get it for a lower price.  Get a pre-List inspection to find all the structural defect of the property … and fix them.  If the carpet is worn replace it.  If the walls need painting, paint them. 

I always look for what my sellers can do to give the Buyer “Warm Fuzzies”.  First you must think like a Buyer.  What are most Buyers looking for? 

A good value in their price range.  What does this mean.  If your home is worth $750,000 in perfect condition the buyer will discount the price by at least twice the cost to make the repairs or material replacements to the home.  As a Seller, this makes no sense.  But as a Buyer, the cost to make the improvements is an unknown.  Another big psychological driver for the reduced price is “The Seller let these things go, I wonder what else is wrong with the home. 

So, don’t leave money on the table.  Do all you can to give the Buyer “warm fuzzies”.  Everything I mentioned above will either bring more money for the home or ensure a quick sale at full market value.


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