Catherine Weir
QUARTERLY UPDATE FEBRUARY 2022
which home improvements pay off? In this first edition of the 2022 newsletter, I am
going to discuss which home renovations pay off and which you are better off leaving to the next person. What many people don’t realize is that although beautiful kitchens and bathrooms help to sell houses, not doing basic maintence and repairs on a home are really the crux of what a potential buyer is looking for. I see many homes that have had the interiors renovated but when it comes to the roof or the siding it is obvious to see that these items need work. Buyers cannot get past a home that needs basic upkeep no matter how nice the kitchen. That means that the best money you can spend on your house is siding and the roof. If the exterior looks solid and then buyers will feel comfortable getting to the interior.
WHAT ’S INS I DE Eastside Market Updates, pg. 3
Buyers want to take the basic systems for granted and assume the roof doesn’t leak and the air conditioning and plumbing work. Maintenance can chew up a lot of cash quickly, and people are afraid of that. When it comes to updates next is the kitchen. Of course, you can spend hundreds of thousands on updating your kitchen. I am going to tell you it probably does not need that much work. Paint, countertops and a backsplash go a really long way and are relatively inexpensive. Another quick update is to change the hardware on the cabinets to whatever is on trend right now–brass or black at the moment. However, if you are planning on being in your house for a while then make it amazing and what you want as buyers do love a beautiful kitchen. This goes for an amazing primary bathroom too. These are the two places in the interior that potential homebuyers love to see
Q 1 2 022
Which Home Improvements Pay Off? continued...
King County
“December saw less houses go on the market however all these homes were snapped up and home prices continued to rise”
updated and functional and are prepared to pay top dollar for your house when the time comes to sell. Adding more room or another bedroom can definitely bump up your home’s future sale price. If your house has the room or ability to add more space with an addition or going up into the attic this could be a great use to you as the homeowner and also when you go to sell.
If you are thinking of any home renovations connect with me and ask me where I think the value is either for yourself to enjoy or for future resale as do not forget these can be two different things!
Conversely adding a home theatre or taking away a bedroom is going to have the opposite effect. If you make your home too specific for you then you will have a tougher time when it comes to selling. My suggestion is to make sure you can easily convert back or takeaway those changes so that you can still get that broad appeal and top dollar from any prospective buyers when the time comes. Finally curb appeal. A nice front yard, a clean patio and welcoming exterior go a really long way towards enticing a buyer. Make sure the driveway is pressure washed the plants or trees trimmed, leaves blown, and the house has a generally a welcoming façade. This is also fairly inexpensive but will make buyers slow down and get out of the car to take a look. There is nothing worse than an overgrown and dark front yard for buyers and they will just keep on driving.
Connect With Me! C E
206.313.9714 catherineweir@cbbain.com facebook.com/catsyweir linkedin.com/in/catherineweir/ instagram.com/catsyweir/ youtube.com/channel/UCmu4AZ16UNVp7W1F5p4Ib4A
CURRENT vs PREVIOUS MONTH
CURRENT vs PREVIOUS YEAR
Dec 21
Nov 21
% Change
Dec 21
Dec 20
% Change
Dec 21
Dec 20
% Change
59
104
-43.2%
59
206
-71.4%
378
1000
-62.2%
Sold
465
616
-24.5%
465
656
-29.1%
1818
2265
-19.7%
Pended
238
430
-44.7%
238
319
-25.4%
1271
1570
-19.1%
Avg Sq Ft Price (Sold)
$672
$609
+10.4%
$672
$504
+33.3%
$627.00
$492.33
+27.4%
Months of Inventory (Closed Sales)
0.1
0.2
-50%
0.1
0.3
-66.7%
0.6
1.2
-50%
For Sale
CURRENT vs QUARTER SAME MONTH LAST YEAR
December 2021 WAs a Seller’s market! The number
of homes listed for sale was down from one year earlier and down from the previous month. The number of homes under contract was down compared to the previous month and down compared to the previous year. The Months of Inventory based on Closed Sales is down significantly from last year. Based on the 3 month trend, the Average Sold Price is up a whopping 27.4% over last year. The Average Days on Market is down slightly over last month, and down over half compared with last year as competitive offers with short closing times are getting accepted more often.
Homes on the Eastside are still closing at 109% of the listing price an increase of 7.3% compared to the previous year.
Q 1 2 02 2
Eastside Update
Catherine Weir Coldwell Banker Bain 1151 NW Sammamish Rd #103 Issaquah, WA 98027
Just LISTED | $1,299,000
24210 SE 10th Place, Sammamish, WA 98075
Just LISTED | $1,550,000
16329 154th Ave NE, Woodinville, WA 98072
“I value each and every one of my clients and always negotiate to get them the best terms possible. When you want first class service from someone that is honest, straightforward and an advocate for you – make me your first call.”
Catherine Weir