to waive or not to waive
Q: “We understand that the market in Seattle right is crazy hot.
We are just starting out and are trying to get an idea of what we
need to prepare for. We’ve heard that people are
waiving every contingency including financing.
Can you share with us what we need to
be prepared for?”
A: I agree with you that we are currently in a heavily weighted sellers market,
which definitely gives sellers the upper hand. So for a minute let’s roll play.
Think of yourself as the seller. When presented with sometimes up to 18
offers (yikes!) what would be most attractive to you? You would of course want
the highest and best dollar, but bearing equal weight would be the strongest
assurance that the offer can smoothly make it to the finish line.
In this market it doesn’t mean waving everything if you are unable, but being open
to waiving ALL that you are personally comfortable with. Title, inspection (assuming you
have done your due diligence with a prelim title review and pre inspection and both looked solid)
are usuallythe first and easiest to stamp with a W. Financing is different beast. You must discuss this with
your agent and your lender to be sure that you are ready and financially sturdy enough
to put a W in this column. This means that if you have an unforeseen financial
hiccup and your loan was contingent upon income that you now can’t count on,
unless you can come up with entire purchase amount,
the transaction will fall apart and you will lose your earnest money.
Not fun. The market will again balance out but the question
KAYSE GUNDRAM 206.713.0180 KAYSE@WINDERMERE.COM
“Parcel to Palace” Buying Vacant Land
Q: “We’ve been beat out in the Seattle multiple offer market and have
decided that we will try our hand at purchasing vacant land and then
building our dream home. What do we need to know about buying vacant
land? Is it that much different than buying a home?”
A: In my professional opinion, and I doubt anyone with industry knowledge
would argue, buying vacant land is vastly different than buying a home.
Especially when factoring in “where” that land is. Is it in a rural area? Is it in
a populated area? Are critical slopes involved? These represent a
microcosm of ‘need to knows’ when researching and educating yourself on
buying vacant land that you plan (or hope!) to build on.
According to building advisor.com, to follow are SOME IMPORTANT
QUESTIONS that you should be working with your agent to answer:
1. Is the lot buildable?
2. Are there any liens, rights-of-way, easements, covenants, or other deed
restrictions or encroachments on the property?
3. What other construction is planned or possible on the surrounding land?
4. Are there any protective covenants?
5. Are there any common facilities (water, septic, road, etc.), or common property
that the homeowners or developer will need to manage. How will this be handled?
6. Will there be a homeowners association and fees? School district zoning?
7. Are any portions of the parcel designated as wetlands or floodplain?
8. Does the site have access to electrical power, natural gas, town water or sewer?
9. Is there potable water on the site? What flow rate and water quality?
10. Has as a perc test been completed? A septic system designed?
11. Are the boundaries clearly and accurately marked?
SHOULD DEFINITELY READ ON….CLICK HERE
KAYSE GUNDRAM 206.713.0180 KAYSE@WINDERMERE.COM
EVER CURIOUS WHO ACTUALLY BUILDS THESE AMAZING HOMES? WHOSE
ARCHITECTURAL GENIUS IS BEHIND THE WHEEL?
According to contemporist, this home was design and built “for a couple, an artist and
an engineer, that wanted a contemporary style, but not out of place with the rest of the
Capitol Hill neighborhood, lots of natural light, an interior with an art-gallery-feel and a
nailed it. So did Benjamin Schneider who captured these amazing images.
THE FINNISH WERE ONTO SOMETHING
Not only do saunas have amazing physical and mental health benefits, but when you
see this well designed example of saunified amazement, you might rethink what to do
with that awkward space in the basement. Might be a bit challenging to recreate the
water view component though!
URBAN HARDWOODS IS NOT ONLY CRAFTING BEAUTIFUL FURNITURE FROM
RECLAIMED WOOD, BUT THEY ARE LOCAL.
I fell in love with their aesthetic and spirit many years ago. If you aren’t already familiar
with their work and story, now is the time to learn. Whimsical, organic, timeless
loveliness = UH. I will dream about eating a meal cozied up to this piece of art. I will
not dream about being up in that tree.
Q: “Our last child left for college 6 months ago and we have decided to DOWNSIZE.
What is the optimal time to list our home? We’d love some direction so that we can
position ourselves to earn the highest and best sale price possible.
A: In my professional opinion, the ideal time to list your home is: Drum Roll…I
actually have 2 answers:
1. Is based on the market anomaly that we are currently in. Historically hot and
unprecedented levels of inventory, currently at a historical low and shrinking.
Can you say sellers market? When to list? NOW.
2. Is a more pragmatic approach based on a typical, balanced (or not crazy
askew) market environment. My answer then would be to list when you are
absolutely ready, prepared and can answer ‘yes’ to the following checklist:
1. Are you committed to getting your home optimally market ready?
2. Are you100% on board for the sale process and move?
3. Do you have reputable agent representation?
4. Are you ready to listen to (And open to heeding) the expertise offered by your agent?
5. When setting exceptions are you able to remove the emotion and trust the facts?
REMEMBER: In a typical market the timing doesn’t matter as much as preparedness
BUT if possible, combine ALL of the aforementioned with a HOT MONTH
[see below] for an ideal scenario.
NUMBER 1 APRIL ’17
MAKE SURE THAT YOU READ THIS AND TAKE NOTES
IS YOUR HOOD A SIZZLER?
AS A REAL ESTATE PROFESSIONAL, I AM ALWAYS ON THE HUNT FOR
I love people and the thrill of the hunt.
I also happen to love architecture and design.
I’m always searching for beauty that is born from thoughtful creation.
Whether it be interiors, fashion, fonts, food presentation or an amazing chalet in
another country PLUS everything else in between and beyond…
THERE’S JUST SO MUCH OUT THERE.
WITH VEINS OF DESIGN RUNNING A WORLD DEEP, isn’t it nice to have a select
few inspiring pieces delivered directly to your inbox?
If you agree, then I think you’ll enjoy my shared moments of simple eye candy
ACCORDING TO CARGO ARCHITECTURE “The Villa Boréale is a charming
contemporary cottage located in Charlevoix, an eastern region of the Quebec Province
well known for its wooded valleys, skiable mountains and breathtaking point of views
over the Saint Lawrence River….”
ACCORDING TO DESIGN MILK, “When a Seattle family purchased this 1914 craftsman
home in 2013, they saw the potential it had. The family wanted to restore the natural
charm of the house while at the same time modernizing the traditional layout of the
ACCORDING TO ALPINE MODERN “Artist and sculptor Othmar Prenner converts an
old farmhouse in the mountains of his native South Tyrol and realizes his vision of an
alpine dream home—between craftsman tradition and modern art.”
“To tub or not to tub?”
Q: “I am considering a remodel and upgrade of our current 2 bathrooms. The home
is craftsman era and both currently have bathtub/shower combo. When considering
resale value, what would my best option be? Should I keep at least 1 tub?”
A: In my professional opinion, if you know who your buyer pool is and factor that
into the equation then you can determine what would be acceptable. A modern tiled
walk-in will surely play better than the old standard to a large population of buyers.
However, there are still some buyers who want/demand a tub. Know that if you take
away the tub, you’ll be excluding from your buyer pool those who want a master bath
tub. If it were me personally and I was contemplating on what to do surrounding my
home (which I have done multiple times!) if at all doable, I would keep 1 tub. That way
you are covering all of your bases. Do a good job in the process and if you’re selling
right away, weigh out the expense vs. the return of a complete update. Many buyers
are particular and would end up redoing it anyway, so it’s something to consider.
NUMBER 1 MARCH ’17
THE DOWN AND DIRTY ON REMODELING RETURN
NUMBER 2 MARCH ’17
WINDERMERE 2016 Q4 MARKET REVIEW