I was having a conversation the other day with a potential home seller. The question that the seller asked about selling their home now or waiting until spring to put it on the market was an interesting one.

First off in our current market you have to be a motivated seller to put your property on the market. Not many people who are just fishing to see what might fall in their laps are actually selling their homes in Tacoma. This client is motivated as they want to downsize and they want to take advantage of the current pricing to buy a smaller home but with a view of the water etc. They have motivation.

Second off in our current market sellers should have equity in their homes. This most likely means that they have been in the home for over five years. This potential seller has that.

Third sellers need to realize that by putting their home on the market at anytime of the year without making the home ready to be on the market they are setting themselves up for disappointment. The potential seller was a bit taken back by this. The reality of home sales in 2011 in Tacoma and in my opinion is as follows:

• Location
• Price
• Condition

If your home is in a desirable location you will have people interested in buying. If your home is in good or better condition you will have people interested in buying. They will also be able to borrow the money to buy if your home is in good condition. PRICE IS VITAL. Buyers are now looking for bargains. You must be priced ahead of the market.  A bargain can be found in multiple ways though. Price is certainly the first and easiest way to attract buyers. Condition can be every bit as desirable. If you are the best kept and best maintained home in your neighborhood that is currently for sale. Buyers will look at you. A good agent will be able to demonstrate that it will be less expensive for a buyer to pay more for your home upfront than it will be to buy the less expensive home and repair it. You cannot be crazy expensive vs. the house down the street that needs just carpet and paint but you can charge more.

Now is a great time to put your home on the market if it is ready to sell! I am not saying that 2011 is the best time ever to sell your home. I am saying that anytime you want/need to sell your home and it is ready to sell is a great time to do so. Waiting for some magic date on the calendar to list your home is not going to help you sell your home. Location, Price and Condition are what is going to get your home noticed.

So should you list your home now or wait until spring? Do you have to or want to sell? Is your home ready for showing to potential buyers? Does it look as good as it can? Are you willing and able to price it so that buyers will look? If you answered yes to all three then list your home today! If you cannot answer all three with a yes then you until you can your home will not sell as easily no matter if you wait until spring or not.

Call me today for my professional opinion on what your home will sell for and what you can do to get it ready to sell. I am looking forward to helping you sell your Tacoma area home in 2011.

Best-

Scott Cowan

The City of Tacoma has finally made a decision to not make the side sewer inspections mandatory. The City of Tacoma has amended the ordinance that was to require side sewer inspections at time of sale or for major remodel. The new requirement is that Real Estate agents provide informational flyers  to the parties involved in the transaction.

This is good news for the Tacoma housing market as the requirement of side sewer inspections would make short sales and bank owned sales even more challenging due to the cost of the inspection and who would be paying for the inspection.  The burden would of been on the seller but with a short sale the seller who is already having troubles making their mortgage payment the cost of the inspection and the potential for a large repair bill. Bank owned properties are always a challenge getting work orders completed. The thought within the real estate community is that the banks would not be willing to pay for the inspection much less any repairs.

While the side sewer issues in Tacoma need to be addressed it is my opinion that the ordinance as it was written was going to do more hinder home sales in the City of Tacoma than it would help with the problems created by the side sewers that were damaged and in need of repair.

The City of Tacoma website and the article is here.

By providing information on the side sewers and what to look for the City is helping educate consumers and home owners on the required maintenance of a side sewer.