You may soon find yourself on the Seattle home search, hunting for the best new home. Naturally, you’ll spend some time touring homes, taking in the staging and getting a better idea of how the home would work for you. However, you may be wondering what exactly you should be looking for while viewing homes—the good and the bad. The following list should give you some clues on what to keep an eye out for when buying a home in Seattle—or anywhere, really.

1. Neighborhood: You can learn a lot before you even go inside the home. Speak to the neighbors, maybe take a look around the block. Remember, you’re not just buying into the home, but the area around it. You’ll want to know about the nearby amenities, traffic speeds, the quality of the neighbors, and if the area seems to be on its way up or down. If you see a large number of homes for sale in the same area, or the houses don’t seem to be kept in good shape, it may be a sign that there’s something unpleasant going on that could affect you later on.
2. Layout: You may have seen pictures that show of the individual rooms, but a walkthrough will show you how the house actually flows. Is the bathroom too cramped next to the stairs? Are the bedrooms right next to each other, or is one on the other side of the home from the others? Will the living area be spacious enough for your family? How’s the storage? These are all things that only spending time in a home will clear up. Of course, keep in mind that your needs may change in the future, so having a flexible layout is a huge plus.
3. Foundation: A house that isn’t level can cause huge headaches in the future. Not only will things look “off”, but a problematic foundation can lead to a host of nasty problems. Foundation issues can manifest in leaks and rust, tilted windows, or flooring issues. A solid foundation really is the building block of a good home.
4. Stains and Smells: Building off the last point, you’re going to want to check all around for water damage, mold, and the like. Check under the sinks and around the toilets for leaks, and look for mold or mildew around the showers. Beyond that, be wary of water damage in places where water normally isn’t. Water damage on a ceiling can be a sign of roofing issues, and water in the basement can mean flooding or foundation damage. And pay attention to smells, both good and bad. A bad smell likely means there’s a problem, but a good smell that’s too overpowering could be trying to mask something as well.
5. Heat and Electricity: While you won’t necessarily be able to see all the components of the heating and electrical processes, you’ll definitely notice their outputs. With the heating on, make sure each room is getting to the same temperature. If not, there could be a draft or an uneven heating system. Check the electrical panel, and pay attention for flickering lights, damaged appliances, or anything that might suggest a less-than-perfect electrical system. Finally, make sure everything looks professionally done—no jury-rigging!
6. Exterior: The roof, gutters, and paint are all things to check out when outside the home. If it’s snowed recently, check the roof to see if the snow is in an even layer—if not, that’s a sure sign of heat escaping and melting the snow. Check for shingles or tiles that are out of place. Make sure gutters are draining properly. A new coat of paint may be necessary to get the shade you want, but if the current coat is peeling and damaged, it may signal something under the surface as well.
7. Yard: Take a look at the yard and see how it’s been kept up. Check for any plants that may be problematic—weeds, or something that may be poisonous to your pets. If there are trees, check to see if the branches will drop sap onto the home or any parking spaces. Animals may also use the trees to get onto your roof, which could lead to attic damage if they try to get in. Also, remember that once the home is yours, it’s your responsibility to keep the yard in good shape. If you’re not up for the task, consider a home with a smaller yard with less upkeep.

There are dozens of things that will come into play when touring a home. When buying a home in Seattle, you’ll encounter good surprises and bad, and this list is by no means comprehensive. It may be beneficial to do some additional research, and it’s always good to talk to your real estate professional to get tops on what else may be especially relevant to you. However, this list should be a great starting point when beginning the process of touring homes.

As a buyer, the appraisal is essential to whether or not you’ll be approved for the mortgage amount you’ve requested. The home that you purchase provides the collateral needed to borrow the money. If the home isn’t valued at the same amount or higher than what you intend to borrow, you could run into problems receiving approval.

What can you do if you believe a home appraisal is inaccurate? The first step is to speak to your real estate agent about any concerns you may have. They will evaluate the appraisal and look into recent sales of similar homes. If they believe your apprehension is justified, they can speak to the lender about filing a dispute with the appraisal office.

If you are having difficulty getting a mortgage for the amount you want due to the appraisal, you can make a larger down payment to reduce the overall loan value. Alternatively, you can take out private mortgage insurance (PMI) on your lender’s behalf. PMI is designed to protect the creditor loaning you the money should you default on the mortgage.

Before your mortgage application is fully approved, an appraisal of the home must take place. This process determines the estimated value of the house. If the valuation falls below the asking price, it could pose difficulties for the seller or [prospective buyer. If you believe that an error has been made during the appraisal process, speak to your real estate agent about your options for dealing with it.

Rarely do you come across an inexpensive home improvement project, so it’s commonly alluring to tackle these jobs yourself. Unfortunately, for every DIY success story there is one or more tales of failure. And when these projects go wrong, they can often go wrong in spectacular, and expensive, fashion. Before you run and grab your toolbox, take a look at the following tips to avoid doing something you might regret.

1. Plan: Generally speaking, you should spend as much time planning a project as it would take to carry out. Whenever possible, draw up a detailed plan, including measurements and materials. Making every initial effort to avoid problems will go a long way to preventing a shoddy final result. As the saying goes, “measure twice, cut once”.
2. Be Well Equipped: High-quality tools are expensive, for sure, but there’s usually a reason for that. Going the cheaper, low-quality route typically makes the task at hand longer and more difficult, not to mention more dangerous. Never improvise with tools unless you’re very experienced, and don’t be afraid to shell out some more money on the front end to have tools that will see you to the end of the project and well, well beyond.
3. Check Legality: While small projects like adding shelving won’t cause you to hear sirens, you may be surprised just how many changes to your property require permission or regulation. Typically, anything that involves construction or may impact the public will require permits or have strict guidelines that you’ll have to follow.
4. Safety First: Never take shortcuts where safety is concerned, which includes everything from wobbly ladders to tackling complex tasks you’re not well-versed in. Professionals have seen just about everything that can go wrong do so, which is why they take safety just as seriously as you should. Before you begin your project, identify any potential safety issues and deal with them first before going any further.
5. Know Your Limits: While you may be particularly experienced in carpentry, that doesn’t make you equipped to lay bricks after just a quick Google search. It’s great to attempt new things, but be realistic about your abilities and ask for help when needed.

DIY projects often save money and can be a whole lot of fun, and rewarding to boot. However, it’s important to consider your options carefully. Sometimes hiring an expert really is the best choice, even if you’re spending a bit more to have the project done right.

After what might feel like an eternity searching, you’ve found the perfect house. Everything about it is tailor-made for your family—a generous layout, ample storage space, and just the right sized yard. Keep in mind, however, that you aren’t just moving into the house—you’re also moving into the neighborhood it’s situated in. So before you submit your offer, make sure you ask the following questions about your potential new neighborhood:

1. Does it fit my lifestyle? Living in the suburbs has its perks, but what if you’re the sort of person that enjoys the nightlife? You won’t find much to do several miles from downtown, and you may not want to drive out of your way every time you want to grab a drink with friends. Conversely, a downtown home might not be near the ideal school district, which can be a huge factor if you’re raising young ones. Once you’ve figured out if the neighborhood you’re looking into reflects your lifestyle, take a look at its crime rates to make sure it’s safe.
2. Is it convenient? Life isn’t all play. Keep in mind where your new home would be in relation to your daily commute, necessity stores, and services like banks or gas stations. You may be surprised how much a lack of convenience an affect your quality of life. No matter how good a home is, it won’t feel like a win if you’re spending so many extra hours tracking down a decent grocery store.
3. How will it change? Neighborhoods aren’t static. With people moving in and out, businesses rising and falling, and the inevitable expansion and reorganization of urban areas, there are countless opportunities for any neighborhood to change. With a little research, you can find some of the changes that are coming to a specific neighborhood. Something as simple as a new stoplight can significantly alter traffic flow near your new home, which may be disruptive or unsafe for kids. On the flip-side, a new shopping center nearby may alter some convenience issues the neighborhood currently faces. Take all the potentials into consideration before laying your money down.
4. Are there regulations? Some areas have homeowners associations that limit aesthetic and functional changes to homes in the area, in order to preserve the overall real estate value and quality of life in the neighborhood. Make sure you’re aware of any regulations and are able to be compliant with them before committing to moving in.

Make sure your real estate agent knows what you’re looking for in a neighborhood. They can help narrow down the options to a home that works for you in an area that suits your lifestyle and specific needs.

I'd be happy to set up a quick, informative Buyer's Consultation if you like to learn more about purchasing a home and determining if now is the right time for you to make an investment in owning a home. 

David Warren

Metropolist Real Estate

425-760-8285 / david@metropolistgroup.com

If you’re shopping for a home in Seattle, you’ve probably been keeping good track of your finances to know exactly where you stand. However, you may still have questions, and one of the most common is, “What credit score do I need to buy a house?” The short answer is that it depends on how you’re financing the home, but here are a few guidelines to get a better idea of what lenders are looking for.

If you want an ideal loan situation, with the lowest mortgage rate, you are going to want a credit score of 760 or higher. Of course, because credit is affected by many factors, it’s unlikely that the average homeowner is in that position. For most mortgage loans, a score of 620 or higher will suffice. In addition to most conventional loans, this is the typical credit score for a VA loan as well.

If your credit doesn’t quite cross the 620 threshold, you may still qualify for an FHA loan. These loans have a minimum credit requirement of 580. There are some unlikely situations where an FHA loan will be issued to individuals with credit as low as 500, but these loans are uncommon and usually require down payments of up to 10% to protect the lender.

Remember, you can request one free credit report from each of the Big Three—Equifax, Experian, and TransUnion—once per year, so take advantage of this service to get a handle on your credit situation, and make necessary adjustments in order to qualify for the loan that’s right for you.

For specific credit score requirements and loan rate information speak with your lender of choice. Its okay to reach out to a loan originator long before you ever officially apply for a loan. If your financial situation is less than ideal they can make suggestions on how to improve your credit score. Far too often potential borrow are afraid to talk to a lender. Just remember they don't get paid unless they can help you. They want to loan you money. 

If you don’t have a lender of choice I’d be happy to refer you to a few great, local Seattle are lenders. Just ask. 

David Warren - Metropolist

425-760-8282 / david@metropolistgroup.com

When faced with the reality of how expensive it already is to buy a home in Seattle, or anywhere else, it’s common to want to cut corners where possible to save money. This is a natural urge, and one of the more common items to consider cutting from the list of fees is the home inspection. After all, why bother paying someone hundreds of dollars to look around a home that you’re perfectly capable of doing a walkthrough on yourself? In reality, the home inspection is one of the most valuable investments you can make during the process of buying a home, and here are a few key reasons why.

1. Top to Bottom: A typical inspection lasts two or three hours, and costs in the neighborhood of $500. Home inspection often begins at the roof and continues all the way down to the foundation, with several key stops in areas like plumbing, electrical, and heating. Taking in the whole house in one large sweep like this creates a comprehensive list of any and all problems that may need to be addressed before the home is purchased or moved into.
2. What’s Seen and What’s Not: A home inspector will take a look at many aspects of the house, but there are some things that they will not check, such as inside pipes, the interior of walls, or behind electrical panels. These areas are often best left to specialists, but a good home inspector can usually tell from the exteriors of these areas that there may be a problem in these areas, and offer suggestions on who to contact to take a closer look should that become necessary.
3. New or Old: Home inspections may seem like a no-brainer for old houses, but what about new constructions? Well, just because a house is new doesn’t mean it’s flawless. A professional home inspector knows not just what to look for in run-down, aged homes, but also what may have gone wrong during a brand-new construction.
4. Categorizing Issues: A good home inspector won’t just make a list of what’s wrong, but classify the issues as well. This means that they will point out what is an immediate safety hazard, what should be replaced immediately, and what should be monitored but does not need immediate action. Instead of overwhelming you with every issue a potential home has, you will instead come away with something closer to a plan of attack based on the priority of each issue found.
5. Negotiation Leverage: A full home inspection will provide you with some concrete evidence of what issues your potential purchase has, and you can use these problems in the negotiation phase. You can decide for yourself what is a deal-breaker, what you would like to see fixed before you move in, and what you’re willing to work on yourself after the purchase. The more you know about the home before you purchase, the more room you have to negotiate with the seller for a deal that seems fair on both ends.
6. Spend Money to Save Money: Sure, a home inspection might cost an additional few hundred dollars up front, but catching small problems before they become big ones can often save you thousands in the long run. Houses are big purchases and big investments, and it pays off to be smart with your money.

A home inspection is among the most valuable tools you have as a home buyer. With the Seattle buyer’s market as competitive as it is, some sellers may consider a buyer willing to waive the inspection as more promising than the competition. This is a risky strategy, and is ultimately your choice. However, a home inspection is far more often than not a worthwhile investment that can make the coming years of home-ownership smoother than going into a new home blind.Why 

Shortly after putting your house on the market, you will likely see your first offers come in. Because many customers are already current homeowners looking to upgrade, their offers are often contingent on selling their own house first. As a seller yourself, you may wonder how to navigate this situation. Do you accept the contingencies, or shoot them a counteroffer? The following crucial information will help you make the decision that’s best for you.

Contingencies come in a few different forms. The safest option for you, the seller, is when the buyer’s property has sold and is in the process of closing. It’s a safer bet that the transaction will go smoothly in the very near future. But what if the house hasn’t sold yet? If that’s the case, you should check to see if the property in question is at least on the market, waiting for a buyer. An unlisted home poses the greatest risk to you, and gives you the most leverage to adding in your own conditions in order to protect yourself. These are some of the most common seller-made conditions:

• Bump Notice – This allows the seller the most wiggle room. If you receive a better offer, you can give the buyer with the contingency a set amount of time (such as 72 hours) to remove the contingency or forfeit the purchase. If the buyer declines, their offer is bumped or “kicked out” and invalid, allowing you to accept a less risky bid.
• Backups – With backups, the seller is allowed to accept runner-up offers should the original buyer not meet their purchase agreement obligations. Any strategy that allows you to field multiple offers, such as allowing backup offers, will be particularly beneficial.
• In Escrow – You can limit contingency acceptance to only offers where the buyers’ home is already pending and in escrow, which means the sale is already on its way to being closed and more likely to succeed.
• Less Time – The seller may request a shorter amount of time than the contingency originally allowed (e.g. 30 days instead of 90) before the deal is off.
• Deposit Forfeiture – If a potential buyer cannot close on the house by a specified date, they lose their deposit money. While many buyers won’t take well to this strategy, it’s a valid option that moves more risk away from you and onto the buyer.
• Refusal – You can, of course, straight-up refuse contingency offers. This will limit your pool of customers, however, so don’t make this decision lightly.

With so many options available, your best bet is to talk them over with a trusted real estate professional. They will have the negotiation experience to advise you in the best direction for your own personal needs.

If you are looking to buy a new home and sell your current home, contact me today. I can help you with paperwork and many other issues concerning the sale of your home, and can also show you all the available properties in your desired area and guide you through the entire relocation process.

After what might feel like an eternity searching, you’ve found the perfect house. Everything about it is tailor-made for your family—a generous layout, ample storage space, and just the right sized yard. Keep in mind, however, that you aren’t just moving into the house—you’re also moving into the neighborhood it’s situated in. So before you submit your offer, make sure you ask the following questions about your potential new neighborhood:

1. Does it fit my lifestyle? Living in the suburbs has its perks, but what if you’re the sort of person that enjoys the nightlife? You won’t find much to do several miles from downtown, and you may not want to drive out of your way every time you want to grab a drink with friends. Conversely, a downtown home might not be near the ideal school district, which can be a huge factor if you’re raising young ones. Once you’ve figured out if the neighborhood you’re looking into reflects your lifestyle, take a look at its crime rates to make sure it’s safe.
2. Is it convenient? Life isn’t all play. Keep in mind where your new home would be in relation to your daily commute, necessity stores, and services like banks or gas stations. You may be surprised how much a lack of convenience an affect your quality of life. No matter how good a home is, it won’t feel like a win if you’re spending so many extra hours tracking down a decent grocery store.
3. How will it change? Neighborhoods aren’t static. With people moving in and out, businesses rising and falling, and the inevitable expansion and reorganization of urban areas, there are countless opportunities for any neighborhood to change. With a little research, you can find some of the changes that are coming to a specific neighborhood. Something as simple as a new stoplight can significantly alter traffic flow near your new home, which may be disruptive or unsafe for kids. On the flipside, a new shopping center nearby may alter some convenience issues the neighborhood currently faces. Take all the potentials into consideration before laying your money down.
4. Are there regulations? Some areas have homeowners associations that limit aesthetic and functional changes to homes in the area, in order to preserve the overall real estate value and quality of life in the neighborhood. Make sure you’re aware of any regulations and are able to be compliant with them before committing to moving in.

Make sure your real estate agent knows what you’re looking for in a neighborhood. They can help narrow down the options to a home that works for you in an area that suits your lifestyle and specific needs.

Moving is often a stressful process, not least of all because of the associated costs. Whether you’re a Seattle homeowner who’s made the big move before, or a new homeowner finally starting out on their own, there are several great ways to cut the costs of moving and make the whole process more bearable. Below are just some of the great ways to save a few dollars when moving.

1. Ask for help: Moving is a great time to cash in on any favors you may have accumulated amongst friends, coworkers, or family members. For the low cost of free (or maybe some pizza when it’s all over), you’ll be surprised what all you can get accomplished. Assistance may come in the form of extra hands, free boxes, more vehicles, or a sitter for pets or kids that may get underfoot during the process. Make sure to remember your “thank you”s at the end!
2. Toss what you can: Moving is a great time to downsize and consider what all you actually need. Go through your stuff as you pack and set aside anything that doesn’t fit, doesn’t work, or you forgot you had and really don’t need. It might surprise you how much stuff you’ve accumulated that you really don’t need. The less you have to move, the less time and effort you’ll spend getting everything relocated.
3. Select a good “when”: Depending on your situation, you may want to select a weekday moving date, or a weekend one. A weekend date will cost more if you use a moving company, but for many people it won’t interfere with work schedules, and taking a day off to move may be an issue. On the other hand, you may be able to take the time off to move when it’s less hectic amongst other movers. There’s no perfect answer for the best moving day, so consider your own calendar before making a decision.
4. Never pay for boxes: Between grocery stores, liquor shops, and many other retail locations, it’s very easy to receive free boxes rather than purchasing them from U-Haul. Besides free cardboard options, your house is probably filled with items that can be used as alternative packing supplies. Creatively utilize suitcases, drawers, trash cans, and baskets to move what you can. Additionally necessary fabrics can be used as cushioning for fragile materials—just remember that those items will be wrinkles and inconvenient when you get to the other end of the move!
5. Consider tax deductions and job relocating: This point is primarily for those making a cross-country move. If you’re relocating for work, your new job may be willing to pay a portion of your moving expenses, so don’t be afraid to ask. Depending on your new job and housing situation, you may be eligible for tax deductions, so keep all receipts pertaining to the move and consult with a tax professional to check eligibility.
6. Use mail wisely: You may want to consider using several mail-order systems for your move. Having food delivered to your new home come moving day will save you from buying takeout when your appliances aren’t ready to cook, and will mean one less headache when you get to your new home. Also, consider shipping your books and media to yourself. A 20-pound box of books costs around $12 to ship via USPS media mail, which may be cheaper than getting them professionally moved.
7. Shop around: If you do need to use a professional moving company, check your options. Ask other movers if they’ll match a quoted price, request a fixed price instead of an estimate, and keep in mind what you can do for free (packing, for example) to give yourself a reduced cost for the rest of the process.

Moving is a hassle no matter how much it costs, but many headaches can be relieved by taking out as many costs as possible. If you’re looking to move in Seattle, make sure you explore all your cost-cutting options. Who knows—you may find some tips not included here that can save you even more!

How is the real estate market doing in West Seattle? Here is a chart of the active number of single family residence homes for sale per month over the last 15 months including the closed sales and and transactions pending closing for those same months.

In July 2018, 257 homes came available for purchase in West Seattle. This is 112 homes more than July 2017 or roughly a 77% increase in housing inventory. Closed home sales in the month of July 2018 were 153 compared to 196 during the same period the previous year.

West Seattle home inventory growth also existed in the months of May and June this year which is a reversal compared to the last few years as we saw inventory shrink creating one of the strongest seller's market in modern real estate history. 

So what is happening? Basically, the supply of homes in West Seattle is increasing at the same time demand is slightly slowing. A decrease in demand is normal in late summer as buyers start to focus on vacations and getting settled for "back-to-school" changes. If anything we are moving toward a more balanced market; supply matching demand. This is good shift for buyers. It is still much too early to determine if this "balancing" is temporary or the beginning of a cooling off period for the Seattle real estate market.