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COVID-19 Real Estate FAQ
COVID-19 has been a scary time for all of us. If you’re thinking about buying or selling, you may have some questions. I’m going to answer the ones I’m hearing most frequently.
Can I still buy a house during the COVID – 19 Crisis?
Yes, you absolutely can still buy a home during this crisis. There are just a few extra precautions that are implemented for sellers and buyers when showing a home-like: wear a mask, wear gloves, use hand sanitizer, and 2 people in a home at one time.
What do I do if I am in the middle of a move and house hunt?
House moves are still happening, movers are essential types of business. You can search for homes online, then when you find a home you want to see your agent makes a showing appointment for you both to see the home, use Marco Polo video to view the home, or face time.
Are you keeping regular business hours?
Yes, I am. 8am-6pm and answer phone up until 8pm. 7 days a week.
Are there special assistance programs available for purchasing homes?
You need to get a pre-approval from your lender or I can refer you to a few great people I work with that will go over all the loan programs, payments, rates, etc.
Are you still showing houses?
Yes I am.
Can you help me find a place to rent while I wait this out?
The Rental Market is very tight but you can check on Zillow rentals, Spinaker Property Management, & HCS Property Management.
How are you making sure the houses you show are clean and safe for my family?
When making showing appointments for buyers I ask the agent if the home has been cleaned and if there are masks, booties, hand sanitizer and I carry it all in my car in a showing basket that we can use before and after a showing.
Any community resources you know of?
I’m following the Governor’s recommendations, the NWMLS & CDC for the COVID-19 disease.
I am always here to help in any way that I can, don’t hesitate to give me a call if you need help selling or buying a home during the pandemic.
Gig Harbor Market Report
*photo credit: cward360
Quick market update on our favorite city- Gig Harbor
Hey friends!
I want to give you a quick update on the Gig Harbor real estate market. If it seems like houses are for sale all over our beloved city…it’s because THEY ARE! Once people visit and see the views, the green surroundings, and quick access to everything, they want to live here!
January 2020 was quite active for a winter month. The median sale price was $380,000 and the average price was $330,000. These amounts are an increase of just over 1% for the month and 13% for the year. Yes, you read that right- 13% increase for the year!
Just over 800 homes sold, and almost a thousand homes went on the market. That is an active winter month.
The average time on the market was just under five weeks. This time on the market is down 35% for the year. So, when homes pop up in Gig Harbor, they sell FAST!
Currently, there are two sellers for every buyer. My guess is that number will change pretty dramatically over the next few months as people come out of their homes, see their shadow, and start thinking about moving. Spring is always a great time to sell as the winter funk starts to fade.
So- with all of this in mind, what should you do?
Great question… first of all, if you are thinking about ANY real estate issues, make me your first call. I live with my finger on the pulse of the entire region and I can help you discern between a good idea and a great idea. And when it comes to real estate, the difference between good and great can be thousands, if not tens of thousands, of dollars in your pocket.
If you are debating selling your home…call me! I’ll take a look at your home and give you great options to ensure you get the top dollar for your home.
If you are debating buying a new home…call me! My eyes are scouring the available listings daily! Nothing makes me happier than finding a house that is underpriced or in a distressed selling situation and calling one of my clients! This creates quick transactions that help both the seller and the buyer.
Thanks for reading! I love Gig Harbor and I REALLY LOVE handing keys over to people whose lives are about to get better.
Hope to talk to you soon!
Maria
Don’t Turn Remodeling Projects Into a Money Pit!
A great article came across my desk the other week about the home featured in the mid-eighties movie “Money Pit.” This was the hysterical movie with Tom Hanks and Shelly Long who were two yuppie home buyers who decided to buy a fixer and …well, fix it! Every home-fixer on the planet laughed until they cried at their never-ending parade of disasters. Of course, the reason the laughter turned to tears is we all remember the tears we’ve shed working on a ‘fixer-upper.’ This article focused on the fact that the same house used in the movie was recently sold for a huge LOSS. The couple who purchased the house set out to remodel, and spent close to $6 MILLION fixing up the home they purchased for just over $2 million.
Eventually, our owners decided to put the home on the market and asked a cool $12 million.
(Crickets)
And so they dropped the price.
(Crickets)
And…dropped it again. And again… until they finally sold the property for $3.5 million dollars.
So what is the moral of this story? I’m glad you asked.
Remodeling is a two-edged sword. The upside is you invest money to get the home that meets your needs and hopefully satisfies a few desires. The downside is, something you may love might not be something a potential home buyer may even like. The experts looking at this story all agree the couple spent too much money on their very personal, very ornate tastes. They added en suite bedrooms, an elegant pool (complete with a pool house), stunning fireplaces, and a modern, open kitchen. Plus, their desires were to create an over-the-top entertaining
palace that would reek excess and elegance. Sadly, the experts agreed that they over-developed for the time and for the area.
How then does a couple know what they should remodel and how much should they spend? They should make sure to have a friend like me in their corner.
As a rule, bathrooms and kitchens are safest, but be sure that your remodels don’t push your price above what your neighborhood can sustain when your home goes for sale. And, when it comes to return on investment, pools sink your return on investment to the bottom. I’d love to talk to you before you remodel if you are thinking of making a few changes before you list! I
spend all my days looking at homes like yours and seeing how buyers respond. Before you make any changes- give me a call!
Thank you for reading…and keep me in mind if you are looking or thinking of listing. I’d love to make the
whole process easier and make sure you get the best financial result!
Fall Home Buying Could Mean Falling Prices!
Contrary to popular belief- buying homes in the Fall and Winter can be the best times if you know what to look for…and what to avoid.
Fewer Buyers Mean More Motivated Sellers!
This time of year, usually means the families with kids are already situated. Those owners of homes that didn’t sell will be extra motivated. Find a few homes you like and start the discussion. As your realtor, I can make sure you are negotiating from a place of strength to maximize your budget!
The year-end clock is ticking!
Many sellers will want to have their home sold by year-end! Tax considerations for the seller are a very real financial issue.
For a buyer, ‘Auld Lang Syne’ should be your theme song. Certainly, jump on the house you love at the price you can afford…but if you have a little flexibility in your timeline, waiting till the clock strikes twelve is to your advantage!
Winter Exposes Many Flaws
It’s easy to make a home look perfect when the grass is nice and green. But no leaves and drab gardens will give a buyer some more information and negotiating room. If the seller has been watching their home go from glorious Summer to drab-and-dreary Winter, they may start to panic a bit.
‘Days on Market’ Mean Dollars Off Price
Memorial Day…Mother’s Day…Father’s Day…Fourth of July… as those Holidays go buy and Thanksgiving and Christmas approach, a seller may get nervous. Especially as the Calendar says December and January.
If you have time on your side, you can score an amazing value if a seller has to get out from under their property. As your realtor, I’ve been watching homes age on the market and can inform you of when a great time might be to offer an extra-low price. This means you’ll either get more home or pay less for the home you want.
While most people are thinking of Football, Turkey and Mistletoe…we can be thinking about snagging the Real Estate bargain of the year!
Send me an email and we can start talking!
mariakalafatich@windermere.com
