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Bidding Wars Heat Up in Unassuming Towns

You’d expect bidding wars in major cities such as San Francisco, Boston, and New York—but Akron, Ohio? The Midwestern town has seen the biggest spike in multiple-offer situations on listings in the nation, according to realtor.com®. And as housing demand picks up in the spring, ushering in the typically busy selling season across the nation, other unassuming metros are becoming hotbeds for buyer competition. “Multiple-offer scenarios are no longer reserved for the usual big, fast-moving markets,” says Javier Vivas, director of economic research at realtor.com®. “Demand for homes has spilled outward into secondary, smaller markets, and more buyers are gearing up to face fierce competition in more places around the country.”

Realtor.com® pinpointed the cities that have seen the most acute spikes in bidding wars by looking at the percentage of homes that have sold above their asking prices. The site evaluated listing and sales data from March 2015 to February 2016 and then compared it to data from March 2017 to February 2018. The following seven locales saw the biggest upticks in the percentages of homes selling above asking price:

1. Akron, Ohio

  • Share of homes selling above ask: 20.6 percent
  • Increase in the share of homes selling above ask: 91.7 percent

2. Worcester, Mass. 

  • Share of homes selling above ask: 41.5 percent
  • Increase in the share of homes selling above ask: 88.1 percent

3. Lexington, Ky.

  • Share of homes selling above ask: 22.7 percent
  • Increase in the share of homes selling above ask: 86.4 percent

4. Irvine, Calif.

  • Share of homes selling above ask: 30.3 percent
  • Increase in the share of homes selling above ask: 85.5 percent

5. Greensboro, N.C.

  • Share of homes selling above ask: 29 percent
  • Increase in the share of homes selling above ask: 81 percent

6. Sioux Falls, S.D.

  • Share of homes selling above ask: 32.8 percent
  • Increase in the share of homes selling above ask: 74.2 percent

7. Madison, Wis.

  • Share of homes selling above ask: 40.9 percent
  • Increase in the share of homes selling above ask: 73.4 percent

Source: “Housing Knife Fights! 10 Surprising Cities Where Bidding Wars Are Booming,” realtor.com®

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4 Lawn Care Tips For a Lush Spring

Longer days and blossoming flowers of spring mean that it is time to prepare your lawn to spend more time outdoors! These lawn care tips can ensure that your lawn is lush and ready to go for the season and into the heat of summer.

1. Dethatch

Dethatch to rid your lawn of dying or dead grass. Lawns do well with less than a ½ inch of thatch, but will begin to suffocate if there’s too much. A sturdy rake is often all you need to get the job done, but if you have a large yard or a lot debris (more than 1 inch of thatch), consider using a power rake. Dethatching can be rough on your lawn so make sure to do it in early spring to allow the grass to recover properly.

2. Check for Bare Patches

Winters can be tough on lawns, and grass seeds don’t always survive the winter season. If you see thin or bare spots that were created by winter storms, you’ll need to replant. Simply loosen up the soil with a rake and sprinkle grass seed to the affected area. Be sure to water the area regularly to make sure that the seedlings take to the ground. Also, be sure to clear your lawn of any winter debris or fallen limbs that may hinder grass growth.

3. Mow Early

It’s time to break out the mower. Just don’t wait too long. Letting the grass grow too long can cause stress and potentially damage the grass seed. On the other hand, you shouldn’t cut the grass too short; grass seed does best when a mow takes no more than 1/3 of the total grass height off. If you aren’t sure what height to mow at, consider doing a first mow at a higher cut level to get a good feel for what length your lawn would do best at. Check the suggested mowing heights for the grass seed in your lawn as they differ.

4. Aerate In Late Spring

Grass grows better in soil that isn’t compacted down. Aerating your lawn loosens up the dirt and provides air and room for necessary nutrients to deeply penetrate the soil. There are many different tools on the market to help you aerate, the most popular one is the gas-powered aeration tool that leaves small tubes of soil all around the lawn. For smaller lawns, you can use manual push aerators or even aeration shoes that attach to your footwear. If you choose to aerate, be sure to do so in late spring so your lawn can heal before the arrival of summer.

Some of these measures, like aeration and dethatching take a bit of effort, but they’re well worth it in creating a lush, green lawn. Spring is the best time to prepare your lawn for a vibrant growing season. With a little bit of extra care this time of year your lush lawn will be ready for outdoor living.

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April 2018 RE/MAX National Housing Report

Rising Prices, Fewer Sales Driven by Record-Breaking Low Inventory

If you are looking for a new home, chances are you’re not finding many homes on the market. If you’re a seller, you have likely noticed the value of your home is rising — no matter what part of the country you live in.

According to the April 2018 RE/MAX National Housing Report, home prices continued to climb year-over-year for the 24th consecutive month in March, while home sales continued to decline for a fourth consecutive month, making it a seller’s market in most regions of the country.

When the Months Supply of Inventory falls below six months, it’s a seller’s market, and all 54 metro areas surveyed for the monthly housing reported under six months of inventory.

Read the full article in RE/MAX’s newsroom…

Watch the 40 second summary video on YouTube…

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Washington State NWMLS Market Snapshot for March 2018

MLS figures for March show a surge in both new listings and pending sales compared to February as the spring market heats up. Compared to a month ago, pending sales climbed more than 29 percent, while the volume of new listings jumped more than 45 percent from February to March.

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12247 Isom Rd SE, Tenino, WA 98589

$329,900

4 bedrooms; 1.75 bathrooms; 1,623 square feet; 2.74 acre lot

You’ll enjoy this peaceful, private and impeccably maintained rambler on shy 3 level acres! Updated features include a newer roof, leaf guard gutters, exterior paint, pro-landscaped front yard, large windows, light fixtures, counters, sinks, all appliances that stay & water heater. You’ll appreciate beautiful hardwood floors almost throughout the home, the master bedroom view & double closets, fully fenced back yard, side yard with plenty of parking, garden areas & unfinished storage downstairs.

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Sold 5/18/18 for $336,000

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RE/MAX Agents Outproduce The Competition 2:1

The numbers prove it: RE/MAX agents continue to have leading productivity. Here are five facts to know from the 2018 REAL Trends 500 Report:

• RE/MAX agents averaged 17.0 transaction sides, more than double the average of 7.5 for all other agents in the survey.

• RE/MAX was one of only four national franchises with an average exceeding the overall survey average of 8.3 transaction sides per agent.

• Of the 1,752 qualifying brokerages, one-third (565) were affiliated with RE/MAX. The nearest competitor placed 392.

• RE/MAX agents averaged $4.6 million in sales volume, 78% higher than the $2.6 million average of all other agents in the REAL Trends 500 survey.

• With 89, RE/MAX brokerages hold even more of the top 100 spots when all participating brokerages are ranked by average sides per agent.

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4 Ways to Use Your Tax Return to Boost Your Home’s Exterior

Planning to receive a nice chunk of change with your tax return? Consider using it for home improvement projects that will increase your home’s curb appeal. The following upgrades are all under $3,000.

  1. Replace door No. 1

As one of the first things a prospective buyer sees, your front door is critical to your home’s curb appeal. Buy a new door and spruce it up with shiny new knobs, locks and knockers. An energy-efficient door can help you save money on bills and may make you eligible for federal tax credits next year.

  1. Refresh the garage

That dented garage door panel you no longer notice? Prospective buyers will. Two new garage doors will set you back just under $3,000 and do wonders for spiffing up your home’s exterior.

  1. Get lit

Illuminating your walkway, installing motion-sensor lights or adding lighting fixtures that highlight your home’s architectural features or landscaping help your property look as appealing at night as it does during the day. Added light also helps keep your property secure.

  1. Add outdoor living space

Decks and patios are among the top features buyers look for. Use your refund to install a stamped-concrete patio or a small deck, and it’s almost like adding another room to your home.

All spruced up and ready to sell? Or know someone else that’s considering a move? Contact me; I’ll be happy to help!

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13107 119th St Ct E, Puyallup, WA 98374

$299,900

3 bedrooms; 2.5 bathrooms; 1,536 square feet

You’ll love this beautifully updated home on a large private lot! The main level is completely updated with hardwood floors thru-out, vaulted ceilings & skylights. Kitchen includes lighted cabinets, under cabinet lights, marble counters, tile back splash, pull-outs & stainless apps. You’ll appreciate the newer roof, exterior paint, windows, fence, decks, patio & furnace. Enjoy entertaining in the backyard, updated bathrooms, double closets in the large master with laundry shoot & lots of parking. Truly a must see!

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Sold 4/30/18 for $324,500 (we received 11 offers!)

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March 2018 RE/MAX National Housing Report

Inventory Limits February Home Sales While Pushing Up Prices

One word sums up February home sales across the country – inventory. The lack of homes for sale continues to be the key factor as February marks the third consecutive month of year-over-year declines in home sales, coupled with quick sales and record prices.

According to the March RE/MAX National Housing Report, home sales dropped 0.2% from February 2017, while the Days on Market average of 62 days was the lowest of any February in the report’s nine-year history.

The Months Supply of Inventory was 3.1 – also a RE/MAX National Housing Report February record – and underscored an average decline in inventory of 13.7% among the 52 markets reporting.

Out of 52 markets, 18 metro areas saw double-digit percentage increases in median sales price year-over-year. While only two metros saw a year-over-year decrease in median sales price – Albuquerque, NM, and Burlington, VT.

Read the full article in RE/MAX’s newsroom…

Watch the 40 second summary video on YouTube…

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Washington State NWMLS Market Snapshot for February 2018