Home Seller Tips

Recently I was reading an article regarding home seller tips in Money Magazine. I was so impressed by what the article had to say, I thought that I should share some of the highlights with our Coldwell Banker Koetje readers.


The essence of the article was that if you are a home seller in this market, you probably feel you can't catch a break. To help overcome that, you need a bit of razzle-dazzle to nab a buyer today. The following attention-grabbing home seller tips will get prospects to your front door.

• Slash Your Price, Bigtime

Many sellers give in to the temptation to list the property above fair market value to see what happens. Big mistake. About a quarter of sellers in the past year initially listed too high and were forced to knock the price lower, according to Trulia.com. Think you can always drop the price if your home doesn't sell. Bigger mistake. The first 30 days on the market are the most important. That's when your home will receive the most attention and get the most showings. So get aggressive right out of the gate.

• Hire a Stager

Veteran real estate brokers interviewed by Money Magazine say that proper staging can speed the sale and often increase the price too. The key is to get it done right. Staging, increasingly popular with homeowners trying to sell mid-range houses, can extend from simply rearranging existing furniture to repainting, replacing fixtures, and bringing in new furnishings. The goal: to highlight the house's best features while making it as easy as possible for buyers to imagine themselves living there.

• Find the Right Hook

These days it's going to take far more than a For Sale sign in the front yard and a spot on the multiple-listing service to get potential buyers in the door. That means getting the word out in a creative fashion-and finding a Realtor who is willing to do the same. "The more eyeballs that get on the listing, the better," says Katie Curnutte of the real estate information website Zillow.com. To do that, you need a multi pronged marketing plan of attack.

To read the whole article in Money Magazine please click here.



To discuss these homes seller tips, plus many other ideas for getting your home sold, please feel free to contact us at anytime at Coldwell Banker Koetje Real Estate.

Coldwell Banker Real Estate Survey Finds Spike in Gas Prices is Impacting Where Home Buyers Choose to Live

Rising Gas Prices Drive Desire for Shorter Commutes and Home Offices

 The high cost of gasoline is not just emptying wallets; it is also impacting where consumers choose to buy a home. According to a new Coldwell Banker survey among its network of real estate professionals, 75 percent said that the recent spike in gas prices has influenced their clients’ decisions on where to live, and 93 percent said if gas prices continue to rise, more home buyers will choose to live somewhere that allows for a closer commute to their work.


The Desire to Be Close to Work, or Work from Home

Out of those who said gas prices affect where consumers want to live, being closer to work was the leading consideration.

• Drive time and racking up miles en-route to the office caused 89 percent to say buyers look for homes closer to work. Forty-five (45) percent are seeing buyers choose homes closer to shops and services as a result of increasing gas prices.*

Some buyers are skipping the commute altogether.

• More than three quarters of the real estate professionals surveyed (77 percent) said more buyers today are interested in having a home office compared to five years ago, and 68 percent of those respondents said that they believe the high cost of gas contributes to this new work from home trend.

• Currently, there are more than 25,000 homes available on coldwellbanker.com that include “office” as part of the listing description.

“The decision to buy a home has always been tailored around the personal, multi-faceted lifestyle needs of each buyer,” said Jim Gillespie, CEO of Coldwell Banker Real Estate. “Today, rising fuel costs and a person’s decision to commute or perhaps work remotely are additional factors of the decision home buyers must consider.”

An Increased Interest in Urban Living

One trend continuing to rise in popularity, partly because of the gas price phenomenon, is the interest in urban living.

• Fifty-six (56) percent of the real estate professionals surveyed said that they are seeing more home buyers interested in urban living compared to five years ago.

• Of the subset that recognized this trend, 93 percent strongly agreed or agreed that one reason is an increased interest in shorter commutes.

• Eighty-one (81) percent of these respondents also strongly agreed or agreed that the desire to reduce spending on gas is a factor.

According to those who have seen an increased interest in urban living, other reasons behind this trend are:

• Having everything at your fingertips (91 percent strongly agreed or agreed)

• Being able to walk to places (76 percent strongly agreed or agreed)

• Being near public transportation (52 percent strongly agreed or agreed)

Methodology: Coldwell Banker Real Estate conducted an online survey among 1,188 Coldwell Banker real estate professionals across the United States about the impact of gas prices on home buying decisions and trends surrounding urban living. The survey was fielded between April 28, 2011 and May 3, 2011.

Coldwell Banker Koetje Real Estate is a full service brokerage in Oak Harbor, WA. Serving the real estate needs of Oak Harbor, Anacortes, and Whidbey Island for over 60 years. We are VA and Military Relocation Specialists.

*Some answer percentages in the above may not total 100 percent, if only the most popular responses are listed. In other cases, respondents had the option to check all that apply, which may mean that percentages total more than 100 percent.

Oak Harbor, WA. What a Great Place to Live and Work

Oak Harbor, WA. What a Great Place to Live and Work

What's it like around our town, the city of Oak Harbor, WA. We are a Navy community with a Naval Air Station (NAS Whidbey Island), which we are very proud of, a bar-b-que joint that is fantastic, a Dutch heritage that permeates our town, and just all-around good people. I think it you watch this video, produced locally in Oak Harbor, you will get a taste of what our town has to offer. Come visit and stay awhile. I think you will be glad you did. You may wonder why a real estate broker would be writing a blog like this. It's because we love living here and are very proud of our home town. Why do I love it? Oak Harbor, WA. What a Great Place to Live and Work

Coldwell Banker Real Estate Ranked as Fastest-Growing Real Estate Franchise System by Entrepreneur Magazine

Entrepreneur Magazine recently ranked Coldwell Banker Real Estate LLC as the fastest-growing franchise among real estate companies for 2011 and the No. 14 fastest growing franchise in all business categories. Coldwell Banker Real Estate also was ranked No. 75 in the Entrepreneur 2011 Global Top Franchises list and No. 90 in the publication’s 32nd annual U.S. Franchise 500® rankings.

"In the midst of a challenging market, we are proud of our expansion and recognition as an ever-growing franchise," said Budge Huskey, president and chief operating officer for Coldwell Banker Real Estate LLC. "We're always moving, and that means forging new relationships and gaining presence in new markets, while empowering our existing franchisees and their sales associates with the tools they need to continue to succeed."

Among these tools is the recently released Coldwell Banker Managing Broker Academy, an online learning portal for managers and brokers. The newest tool provides videos, podcasts and social learning aids focusing on long-term educational planning and timely educational tools.

Additional training and ongoing support Coldwell Banker offers offices and agents includes:
• Intensive multi-day introductory training sessions offered at Coldwell Banker's headquarters and franchisee offices
• Diverse classes and continuing education programs available in person or online
• National and local advertising, including television, online and mobile
• Management conferences and regional training events
• Field operation evaluations
• Grand opening support
• Weekly newsletters

Entrepreneur’s 32nd Annual Franchise 500® report is based on its own proprietary rankings formula using financial and statistical data from July 2008 through July 2010. For more information on the rankings visit: http://www.entrepreneur.com/franchises/franchise500/about.html

For employment opportunities with Coldwell Banker Koetje Real Estate, please contact us at info@whidbeyrealestate.com

How's The Oak Harbor Real Estate Market (Part 2)

In my last post, I explained my answer to "How is the Market". As part of that answer, we must consider what effect the distressed homes are causing on values.  Because of the economic conditions in our country over the past few years, homeowners are losing their homes through foreclosure because of loss of jobs, changing terms of mortgages, inability to sell, etc. Foreclosed homes then sell at a price that is usually less than comparable homes in the market, driving down the prices of homes. Other homeowners that need to sell are experiencing another difficulty. Their home is worth less now than when they purchased it and they must sell at a loss. If they don't have the funds to make up the difference, then negotiations with the bank may allow them to sell short, or as is commonly called, a Short Sale. Short sales also have the result of causing prices to decline in the local area.  These are factors that have resulted in the way that I answer the question, How Is The Market.

North Whidbey Island 2010 Statistics for evaluating the effect of Distressed Home Sales:

•  Short Sales were 11.5% of the active listings and 5% of the sold listings.  Foreclosures were 9% of the active listings and 17.5% of the sold listings. 
• The average listing price range of the overall market was $263,000.  The median sales price of non-distressed homes was $250,000, Short Sales was $220,000, and Foreclosures was $160,000.
• The price per square foot for non-distressed sales was $150 per sq. ft., Short Sales was $124 per sq. ft., and Foreclosures was $112 per sq. ft.

Based on these statistics, it can be noted that a larger foreclosed home could be purchased for less money that a smaller non-distressed home. Also it can be noted that more Foreclosures were being purchased than Short Sales which will make the Short Sale homes probably result in Foreclosures.

With all of this being said, I do believe that prices have stabilized in our market. Over the next year, we will see some gyration of values but nothing like we have experienced in the last few years. It is still a great time to buy if you are a buyer, and if you are a seller that has owned your home for more than 5 years it is still a good time to sell. If you purchased your home within the last 5 years and don't need to sell, then I would recommend holding on to it if you can. Call us about Property Management if you need to leave the area. If you are still living in your home and just need more space, than maybe a remodel would be best for you. We know of some outstanding contractors that we would be happy to recommend to you. Whatever the situation is, I can assure you that home ownership is still "The American Dream".

How's The Oak Harbor Real Estate Market (Part 1)

I am often asked, "How's The Real Estate Market in Oak Harbor?"

I was recently asked to speak at the Rotary Luncheon about the state of the real estate market in Oak Harbor. My speaking engagement was postponed for a few weeks, but I thought I would share some of the information in this blog. I will continue with a second blog that will address another area that affects the real estate market, Short Sales and Bank Owned Properties.

The first answer that I have after someone asks me about the real estate market is, "It depends". Now I am not trying to be flippant with that statement, but my answer really does depend on if you are a buyer, a seller, when you bought your home, etc.

• If you are a buyer, the question is a no brainer. The Oak Harbor Real Estate Market is fantastic. In fact, I just helped my niece and her family make a purchase of a home. Interest rates are at all time lows (though they are starting to creep up). There is a large supply of inventory on the market for sale right now and sellers are being very generous in their negotiations.

• If you are a seller and you have owned your home for at least 10 years, than it is a good market. As you can see from the chart, home prices have appreciated 3-4% average over the last 10 years. So if you need to sell, than from an investment perspective, you have made a good decision and the Real Estate Market is good. 

• If you are a seller and you haven't owned your home for more than 5 years, than the value of your home is probably equal to or less than your original purchase price and you might want to consider other alternatives to selling, such as rent, or not moving. If you are in this situation than the Oak Harbor Real Estate Market is not so good but is getting better.

A large component of the Oak Harbor Real Estate Market is Short Sales and Bank Owned Properties. In my next post, I will explain the statistics for these sales and how they are affecting our market.

Contributed By: Rick Schutte
Owner/Designated Broker Coldwell Banker Koetje Real Estate

Oak Harbor Chamber of Commerce Interview

Recently, we had the opportunity to sit down with Jill Johnson, the executive director of the Oak Harbor, Wa. Chamber of Commerce. We were able to discuss the exciting year in front of us and what the Oak Harbor Chamber of Commerce was anticipating for 2011. In our interview, Jill mentions the updating of Pioneer Way in Downtown Oak Harbor as well as the need for all of the local businesses and Oak Harbor residents to be involved in the community.




If you would like more information about our beautiful city of Oak Harbor, please email us or contact the Oak Harbor Chamber of Commerce.