On Bainbridge Island, inventory of single family residences remains lower than normal because demand has roughly doubled over last year. Here are statistics on listings vs. pending sales.
So, Active Listings – those available and not under contract – are 163 vs. 263 in 2011. This is a very small amount of inventory. If you are a buyer, you would be wise to have a Buyer Broker working on your behalf to screen houses for you as they hit the market and help you work quickly to secure the house you want. Buyers who work with a Broker to help them can also benefit from the Broker researching past listings that may not have sold; we can approach the owners on your behalf and uncover gems for you.
First Time Home Buyers may not realize that Sales Commissions are typically paid by the Seller, so it costs you nothing to get Buyer Broker assistance. Talk with your trusted Realtor about it.
Every year, Remodeling Magazine does a Cost vs. Value report that shows the return on investment you can expect from typical remodeling projects when you decide to sell. Very often during listing presentations,a homeowner will tell me that someone suggested a kitchen remodel before putting their home on the market. According to this report, if they were to take that advice and spend $20,000 on a minor remodel to spruce it up and get it looking great, they might see a return of $18,000. Sound like a good investment to you? Take a look at what spending $60,000 on a high-end makeover might do for you. Data is compiled on a national level and by region, including Seattle.
This is why people will tell you to do the remodeling while you are still living in your home and can enjoy it. Here's a link to the downloadable reports:
When I was growing up in the Midwest, it was normal for grandparents to live in the same household as their children and grandchildren. My best friend at the time, Debbie, enjoyed her grandma's company and she taught us how to embroider. Another friend from the East Coast, one of 5 children, was practically raised by her live-in German grandmother, whom she adored, and speaks fluent German as a result. Many people are re-evaluating their lifestyles since the recession and the slow comeback our economy is experiencing. Sometimes change that is difficult can bring great joy. Consider the benefits of multi-generational housing. And in our area, it can come in many forms.
Multi-generational Housing Bainbridge Island Real Estate Options:
On Bainbridge Island right now, there are a variety of properties for sale that would work well for this:
1. Two houses on one piece of land.
2. Rambler with daylight basement, each level featuring a private kitchen, bath and master bedroom.
3. Two-story home with a master suite on the main floor and a second master upstairs.
4. Three-story home on a large lot that is plumbed for a second kitchen in the sun-filled, lower level.
Consider the benefits, then decide if it's time for a change.