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The Home-Selling Timeline & Our Tips for Success
If you’re thinking of selling your home, it helps to have a timeline in mind with the key steps involved. If you’re feeling overwhelmed about the process, detailed information can help you plan ahead and manage your expectations. Below, you’ll find a helpful timeline, and we’ve included our top tips to ensure a successful outcome. Whether you’re selling to buy your dream home, getting ready to downsize, or starting a new chapter of your life, we’re here to streamline the process.
Starting the Selling Process
Find a highly-rated, local listing agent: A highly rated, local agent makes a huge difference. A local agent will not only know your local real estate market well, but they’ll also be able to properly price your home, utilize excellent local vendors, and have an extensive network for preparing and marketing your home. Online reviews or word-of-mouth recommendations are helpful. But it’s also important to think about the qualities you’d like in your agent.
Preparing Your Home For Market
Make renovations/repairs: Your agent will conduct a Comparative Market Analysis to assess your home’s worth. A pre-listing inspection can also really help. From there, you can decide based on which projects are necessary and/or will increase your home’s resale value. Again, utilize your agent’s knowledge so that you can make data-informed decisions. This step in the process can take anywhere from a few weeks to many months, depending on what projects need to be completed to get your home ready for market. Contractors’ schedules and supply/demand are also factors. If you’re concerned about the cost involved in renovation/repairs, you may want to consider the Windermere Ready program. Through this program, you can access equity in your home before you sell (up to $100,000) to cover improvement costs. Doing so helps you sell for more, often in less time.
Pricing your home: Pricing your home correctly is crucial. Your agent will factor in comparable properties in your area and the current market. While there are many automated valuation models out there today, they can’t replace an agent’s expertise. Those tools are estimates and can provide a starting point, but a deeper dive into the data and the local, on-the-ground knowledge of an experienced real estate professional will be very advantageous.
Declutter/stage your space: Depending on the state of your home and its size, this can take anywhere from an hour to one week per room. Buyers need to be able to visualize themselves living in your home, so each room should be de-personalized with strategically placed items and furniture to make your home even more appealing, selling its best features. This is where professional staging can really enhance your home. While some opt out of having their home staged, research shows that even partially staged homes typically sell for more and in less time.
Listing and Showing Your Home
List your home: Once your home is ready, your agent will put the listing together. Excellent professional photography is one of the key components. Many listings also have drone shots, videography, and/or a virtual walkthrough. This process can take anywhere from one day to a few weeks, depending on the photographer/videographer’s availability, and your agent will also prepare signage, flyers, etc.
Showings/open houses: Expect showings to take 1 to 4+ weeks. Sometimes, showings may happen within the first couple of days after your home hits the market. Being flexible and allowing for multiple showings/open houses is really beneficial. If a seller only allows a few brief opportunities to see the home, it may sit on the market longer because buyers can’t easily view it in person.
Offers
Review offers: Unfortunately, no one can predict exactly how long this will take, how many offers you’ll get, or what kind of offers you’ll get (above asking price, all cash, multiple contingencies, etc.). Review each offer carefully and discuss the pros and cons with your agent. Also, check out these negotiation tips when selling.
Accept an offer, and wait for the home inspection/appraisal: Once you accept an offer, there’s often a home inspection/appraisal process. The buyer’s lender will hire a professional appraiser to evaluate your home’s location, size, and condition. They will also look at sales of comparable listings to determine its appraised value. This ensures the buyer isn’t overpaying for the property and that you’re not underselling it. A home inspection involves an expert inspector who checks the roof, plumbing, foundation, HVAC, and other parts of the home. Their report can point out any problems requiring a buyer’s attention and can be used in negotiations.
Closing and Moving
Close the deal: While closing times can vary, Realtor.com states, “A home seller should expect the whole process of selling a home to take about 30 to 45 days once an offer has been accepted.” Sometimes, the lender can hold up a deal, whereas an all-cash sale can close faster.
Move out: The average timeframe for moving out is 30 days. However, some home sellers will request more time. For additional information, view our Guide to Selling, which includes moving tips, information regarding the purchase and sale agreement, a glossary, and much more.
Retirement Resources for North Kitsap’s Senior Citizens
North Kitsap County offers senior citizens a plethora of retirement resources. From housing and transportation options to different ways to get involved in the community, there’s something for everyone. Best of all, the abundance of activities ensures there is always something fun to do.
Activities & Community Involvement
First and foremost, North Kitsap County is home to many organizations that provide a range of activities. The Village Green Community Center in Kingston hosts pickleball, community yoga, baking classes, MahJong, Tai Chi, photography workshops, Kiwanis and Kingston Historical Society meetings, and more.
Offering programming for all ages, the Greater Hansville Community Center’s calendar includes informational lunches, community yard sales, as well as an annual classic car show.
If you live in or around Indianola, check out the Indianola Beach Improvement Club. The club’s activities calendar features weekly public and private events, and it can also be rented as an event space.
Poulsbo Parks & Recreation also offers activities for people of all ages. Check out their Summer 2024 Catalog. Active adult programming includes coffee hours, art therapy, and group fitness classes. Poulsbo is also home to the North Kitsap Senior Center. Resources, classes, and events can also be found through the Kitsap Regional Library. Each branch of the library offers all kinds of interesting ways to get connected, and there are many free offerings at every branch. Our libraries offer tax preparation assistance, genealogical study resources, knitting nights, sessions about healthy aging and Medicare, and much more.
If you’re a Tribal Elder in the Suquamish Tribe residing in Kitsap County, you can benefit from the Elders Program. This includes day trips, holiday gatherings, classes, home visits, and much more.
The Port Gamble S’Klallam Tribe’s Elder Program serves Elders with the greatest economic and social needs and includes well-balanced meals for Tribal seniors with home delivery five days a week. The goal is to “improve the quality of life for these individuals by fostering an environment where the dignity and pride—which they deserve—can grow and flourish.” You can learn more on their website.
The Bainbridge Island Senior/Community Center‘s mission is to enhance the quality of life for people as they age. They offer workshops, lectures, and outdoor activities like bike rides. Another great resource available on Bainbridge Island is the Bainbridge Artisan Resource Network. It is a creative community for teens and adults with 10 well-equipped studios. These community workspaces offer tools as well as online and in-person classes. You can try your hand at weaving, 3D printing, novel writing, woodworking, jewelry making, and much more.
Transportation
There are many options in North Kitsap for accessing all these great activities. If driving is no longer an option, there are many public and private means of getting around. ACCESS and VanLink are programs from Kitsap Transit that offer flexibility outside routed systems. ACCESS is meant for seniors and those with disabilities. An application and eligibility must be verified before scheduling a ride. VanLink is a shared-cost program that serves people who qualify as low-income, veterans, disabled, or seniors.
North Kitsap is also home to ferry terminals if you want to take to the waters. Check out the Washington State Ferries for detailed schedules. Ferries run out of Port Orchard, Bremerton, Bainbridge Island, and Kingston. There is also the Kingston Fast Ferry that will get you to downtown Seattle in 40 minutes.
Living
As you age, you might prefer to stay in your home as long as possible, aging in place. On the other hand, entering a retirement community might sound enticing. To explore your options, check out the Kitsap County Division of Aging and Long-Term Care for retirement resources and planning assistance.
There are also a number of senior living facilities that offer a spectrum of care throughout North Kitsap County. For example, there are Martha & Mary senior apartment homes in Kingston and Poulsbo. Bainbridge Senior Living offers a range of care levels, from independence to memory care needs. Another option is Northwest Care Senior Living in Poulsbo. Again, this depends upon individual needs, and some services can be customized. It’s important to research each option. Try to connect with locals who live there or who have family members or friends who live there to get different perspectives. Many of our agents are longtime or lifelong locals who are well-connected. They can help you get more connected if needed.
Volunteer Opportunities
If you’d like to volunteer your time and/or your expertise to a local organization, Kitsap County has a wide variety of volunteer opportunities. Kitsap Regional Library has multiple Friends of the Library groups at its different branches. Crossroads Rotary of Kitsap, PAWS of Bainbridge Island and North Kitsap, Poulsbo Historical Society , and BARN are all fun ways to meet new people and make an impact. You can also check out this comprehensive list of community agencies seeking volunteers.
Retirement Resources for Additional Assistance
If you want even more resources, check out this 2024 Senior Resources guide. It contains contact information for everything from counseling to continuing education to Medicare. Additionally, you can find information about local hospitals and even hearing specialists. The guide also lists different living options and home health assistance programs.
North Kitsap offers multiple ways to enjoy your retirement. Whether you’re looking to have some fun and connect with others, or you’re considering a move, we have the resources you need to take the next step. And, if you still have questions, please feel free to reach out. We would be happy to assist you in any way we can.
Landscaping Tips from Olmsted’s Nursery
There is no doubt that summer is officially “outdoor season” here in the Pacific Northwest. That being said, homeowners love to spend time making their yard into a personal oasis. From growing vegetables and cultivating cut flowers to creating the perfect outdoor entertaining space, chances are, a trip to a local nursery is on your to-do list.
We love to gain insights and tips from local experts, so we turned to Sean Olmsted from Olmsted’s Nursery. Sean and his wife Veronica have been enhancing local landscapes for over 20 years. Sean grew up in the industry, with his parents starting Olmsted Tree Farm in 1968. We asked Sean for some of his best tips on how to make the most of your outdoor space.
What is the best way to get started?
First, come up with a budget! Next, consult with local experts about the steps to take. Make a plan. There’s lots of great DIY software to create a digital plan. After the plan, set a timeframe for when the project needs to be completed. Decide if you should divide the project into phases. Lastly, don’t take on more than you can handle. Remember, landscaping is supposed to be stress-free and relaxing.
How can people best use limited space?
Small space landscapes can be the most rewarding and also most challenging. The best advice I have is to choose a theme and go with it.
What about current landscaping trends?
The new trend is eclectic but this can overpower a small space. So, we go with the less is more mindset. Ponds and water features were a huge trend for a while, but now container gardening and outdoor living are the most popular. Garden art is huge right now! Try adding a metal sculpture to your landscape.
At Olmsted’s, you’ll find everything from houseplants to garden art, pavers, rocks, and all types of plants, including trees.
When should you start?
Spring and early summer are great times to update your landscape and wake it up from those hard winter months. Garden bed clean-up, lawn rejuvenation, and planting garden vegetables will all help you enjoy your outdoor space during the summer and fall.
We’re grateful to Sean Olmsted for sharing this helpful advice. Check out Olmsted’s plant nursery and their shop to get supplies and ideas. If do-it-yourself is not your speed, Olmsted’s Nursery has an expert landscaping team. From design consultations to expert installations, they can walk you through projects of any size to reveal the full potential of your land.
What to Know About Different Types of Properties
Before buying a home, it’s helpful to know more about the different types of properties available. Some types are better suited for your lifestyle, depending on your goals and finances.
When people envision buying a house, they often think of a single-family home. This is a stand-alone structure where a single family lives, hence the name. But there are many other types of homes available, including condos, townhouses, duplexes, and multi-family homes. Each of these types of properties has its own unique characteristics. It’s best to consider and evaluate all options before starting your home-buying journey.
What is a single-family home?
Buying a single-family home is often associated with the American dream and success. While single-family homes usually provide more freedom and privacy, they are also more expensive. As a buyer, it’s exciting to have the opportunity to personalize your home and make renovations. Then again, house projects aren’t for everyone, so you may prefer purchasing a home that is move-in ready. A great benefit of buying a single-family home is that there are no shared walls. Plus, many single-family homes offer private outdoor spaces. For some home buyers, this is worth the extra cost. For others, they don’t want the upkeep. Some single-family homes are part of a Homeowner’s Association (HOA) with fees, requirements, and expectations. Some HOAs may offer amenities like a neighborhood park or events such as block parties. While some HOAs are strict about lawn and home exterior maintenance, others aren’t. Therefore, it’s important to inquire further if looking at a home that’s part of an HOA.
If you do decide to move forward with purchasing a single-family home, one architectural style to consider is a rambler house. Ramblers are known for their spacious interiors, one-story designs, and welcoming layouts. For those looking to age in place, ramblers can be ideal. No one will have to worry about navigating stairs, and you can enjoy an open floor plan with a central living space and an attached garage.
What is a townhouse?
Typically, townhouses are narrow, multilevel structures with a small yard in the front or back. Townhouses are similar to row houses in that they are built in a row. However, townhouses often have varying architectural designs and roof lines despite being built in a group with shared walls on the sides. Meanwhile, row houses all share a common façade.
For some home buyers, a townhouse may be the perfect fit. Many are more modern and often cost less than single-family houses. Like a single-family house, owners are responsible for exterior and interior maintenance and repair. Also, townhouses usually have Homeowner’s Association (HOA) fees similar to a condominium. However, these fees are usually much less expensive because the focus is on caring for shared areas instead of providing high-quality amenities.
What is a condominium?
Condominiums are divided, individually owned units in a much larger structure. Many look like high-end apartments since they are smaller sized and don’t include land ownership. This can be an attractive option since condominiums are often less expensive. Plus, owners are only responsible for maintaining the inside of their unit.
However, condominiums are unique in that all the residents who live there share the costs of the rest of the building. These costs are covered through monthly HOA fees that can be quite expensive depending on the number of amenities. For example, HOA fees cover the costs of insurance and usual outdoor maintenance. But if the condominium building has a pool, gym, or barbeque pit, then these things are also covered by the HOA fees and drive up monthly costs. On one hand, it’s great because you don’t have to worry about a lot of maintenance. On the other hand, you may not feel the benefits outweigh the increased cost. If you are purchasing a condominium, make sure you research the HOA fees. This includes who oversees managing disbursement, and how often fees are raised.
While not as common, some neighborhoods consist of single-family homes or duplexes that are, on paper, just like condominiums. These neighborhoods often have shared common clubhouses that feature amenities often found in typical condominiums, such as pools, gyms, or other shared perks. These neighborhoods also require HOA fees to cover the costs of these amenities.
What is a multi-family home?
A multi-family home is a broad term that encompasses all dwellings that house more than one family. So this includes everything from a duplex, to a townhouse, to a condominium, to a multi-unit apartment building. If you are thinking about purchasing property as a place to live and as a rental property, you may want to consider buying a duplex or multi-unit apartment building. This will allow you to live on-site and also rent other available units. While this sounds attractive financially, becoming a landlord is a lot of work and a big responsibility. Windermere does offer property management services.
Next Steps
After reviewing the different types of properties and deciding which one is best for you, a Windermere Poulsbo real estate agent can help you get started. Whether you’re a first-time homebuyer or considering downsizing, a local expert can find the best home and community for you. They can also answer any questions you have about getting a home loan and discuss the new Washington State real estate law changes.
Understanding Contingencies When Selling Your Home
If you’re preparing to sell your home in Kitsap County or in the surrounding area, there is a good chance you will find an enthusiastic buyer. However, their offer may contain contingencies. Contingencies are certain conditions that must be met before the sale of a home is finalized. They are often meant to help buyers protect their interests. As the home seller, it’s important to understand contingencies you may encounter when an offer is presented.
Are contingencies common?
Yes, contingencies are quite common. If the required conditions are not met, then the seller or buyer can exit the contract. It is common for a buyer to include contingencies in their offer.
What are common contingencies?
Let’s discuss some common contingencies. First, there is the home inspection contingency. This allows the buyer to have a home inspection within a set period of time. If an inspector finds unsatisfactory conditions or concerning areas, the buyer might negotiate the price or request repairs. The contingency could require repairs to be completed before the home sale is finalized. This is why a pre-listing inspection is so valuable for home sellers. It will ensure you won’t find any surprises that may impede the sale of your home.
An appraisal contingency could play a role in financing. This contingency requires that the house must be appraised at the sale price or higher. Depending on the agreement, this contingency may also stipulate that the sale price will be reduced to the appraised value if the appraisal is lower.
A buyer might also present a home sale contingency to you as the seller. This contingency is often included when buyers are trying to buy a new house while selling their current home at the same time. As a seller, it is important to consider this carefully. You can require a specific time frame for the other home sale to take place. If the other home is not sold in time, that will void the contract. However, you may lose out on other potential offers during that time. But if the buyer’s offer is strong, a home sale contingency can be worth it.
Finally, a title contingency is common. Before the sale is finalized, a search will be conducted to ensure there are no liens or judgments against the property. It’s a good idea to pull a pre-title report prior to listing your home to set yourself up for a smoother transaction.
How can I ensure my home is prepared?
Avoid these mistakes, and get all the necessary documents together. Gather your home’s title history and documentation regarding your property’s condition. Ask your trusted, local real estate agent to conduct a Comparative Market Analysis. Have a pre-listing inspection completed. This will give you time to make necessary home improvements, which will give you a high return on your investment. Staging can also be very beneficial.
Also, consider the Windermere Ready program. Your Windermere real estate agent can create a customized plan of action. And, Windermere can provide financial assistance so you can sell your home for more in less time. Watch the video below to learn more about this advantageous program.
Who should I consult with to review contingencies?
A knowledgeable agent can walk you through it all. They understand your needs and will advocate for them. It’s crucial to have a strong negotiator at your side, especially when discussing contingencies. Don’t be afraid to ask questions so that you can make well-informed decisions.
Kitsap Regional Library: A Vital Community Resource
Kitsap Regional Library is more than a place to check out books and access free wi-fi. For many, it is a vital community resource. While free books, book lockers, printing, and computer access are nice, they are only the tip of the iceberg. Your local library offers a range of informational materials, interesting events, helpful workshops, and fun activities.
Kitsap Regional Library has nine different branches. Some or all of the offerings listed below can be found at each branch. Be sure to check out their events calendar and filter the results by location to find out what your nearest library is currently offering.
Tax Preparation Assistance
With tax season in full force, the Kitsap Regional Library is offering AARP Tax-Aide sessions until April 15. Registration is required as drop-in service could be limited. This is a free, confidential service offered by the library system. IRS-trained and certified volunteers will be available to help you prepare your personal taxes.
Gardening Support
Kitsap Regional Library offers budding and experienced gardeners the opportunity to develop their skills. There is even a seed library with free, organic, non-GMO seeds. The seed libraries are located at the Port Orchard, Manchester, Little Boston, and Kingston branches. Additionally, you can learn more about gardening by attending an informational session with a guest speaker. Topics can range from bees to composting to sowing seeds. If you’re already an experienced gardener (or looking to gain wisdom from others), check out the Gardeners’ Tea Party at the Silverdale Library.
Gaming Resources
Do you have a teen or kid interested in Dungeons and Dragons? Or, maybe the family is looking for a new hobby to enjoy together? Check out this plethora of gathering times to learn about different games and play them with friends.
There are also Afternoon Gaming events for Infinity Games with the gaming consoles. Additionally, there are Teen Kits available. You can also check out video games through the library catalog.
Genealogical Study Resources
Kitsap Regional Library has partnered with Puget Sound Genealogical Society. Patrons can request access to materials housed in the center, as well as take genealogy classes through the library. There are monthly classes, family history writing courses, and family tree-building coaching sessions.
Story Times and Music Times Galore
For many parents of young children at home, weekday library events can add a breath of fresh air to the weekly routine. Kitsap Regional Library offers many sessions for those home with babies, toddlers or preschoolers. There are Baby Band sessions, preschool STEM classes, and family story times as well. You can also Read to a Dog, in partnership with Therapy Dogs International Kitsap. These events happen at different branches, including here at the Poulsbo Library.
All these sessions support early literacy and encourage social and emotional well-being. They’re also a great spot for caregivers to connect. Additionally, there are early learning backpack kits that can be checked out, as well as fun STEM activities to do at home.
Resources for the Creative Arts
Our libraries also offer many classes for creatives to come together. Whether crafting, knitting, participating in book clubs or writing groups, or even learning the ukulele, the library can support your artistic endeavors.
There are teen events with crafts available, “Crafternoons”, and fiber art circles, as well as “Knit at Night” events. Individuals can even learn how to play an instrument for free by utilizing the library’s Libby platform and accessing ArtistWorks. Looking for more creative classes throughout the region? Check out this list.
Community Health Resources
The Peninsula Community Service Mobile Medical Clinic travels to various branches throughout the library system. Visitors can get help with insurance enrollment, discuss medical concerns, and connect with medical staff in the mobile clinic. A Fishline case manager is also available throughout the year. Offered as a drop-in service, they will provide direction on rental assistance, mental health therapists, food banks, and more.
Senior Resources
There are many recreational and professional services offered for seniors through our libraries. You can attend informational sessions about Medicare. There is also a session about healthy aging. (This is in addition to the wonderful selection of books that can be found on health topics.) Low-income seniors can connect with the Poulsbo Senior Resource Specialist, Leah Lovely. These drop-in sessions will provide information about available discounts, social groups in the area, and even caregiver support groups.
Summer Learning Resources
Kitsap Regional Library has multiple summer activities and resources to keep school-aged children occupied. Meant to be self-paced, there are summer reading activities and access to online resources that range from learning a new language to advancing in chess.
Get Connected
From Kingston to Port Orchard, our libraries across Kitsap County are home to librarians and staff members who are highly knowledgeable, friendly, and here to help. They can provide book bundles, one-on-one research assistance, mobile deliveries to those who qualify, and much more. All you have to do is ask. And, it is easy to get more involved.
We love the Kitsap Regional Library system, which is a vital literacy hub and so much more. We’re so proud of all our libraries do to strengthen our communities.
Preserving Poulsbo’s History
Poulsbo is known for its historic charm and Nordic flair. Take a walk down Front Street, and you will see plaques displaying information about the original businesses that stood in the places you find modern shops today. The Poulsbo Historical Society plays a vital role in preserving Poulsbo’s history and educating locals and visitors. Their motto, “Bringing the Past to Life,” takes shape through their three museums and their archive library.
Judy Driscoll, PHS Curator and Author
A true local champion, Judy Driscoll works as a Poulsbo Historical Society archivist and museum curator. Additionally, she has written multiple books about Poulsbo’s history. She joined the PHS in 2006 after retiring, which gave her more time to volunteer. She has been a history enthusiast much longer, writing a children’s book, Paul’s Place in 2004.
The Poulsbo Historical Society inspires Judy not only to gather local history and artifacts but also to educate the community, which is changing rapidly with new growth. “We’re finding that many of our new members are those who are new to the community, don’t know much about local history, but want to become involved in an active organization,” she said.
Judy’s Favorite Thing About Being Involved
We know Judy loves helping preserve Poulsbo’s history, so we asked her what she enjoys most about being involved in the Poulsbo Historical Society. “So many people who live locally come to the museums. They say they drive by the museums every day and never stop to come in and see what is going on,” Judy explained. “They don’t realize how busy we really are! We have over 20,000 people a year come into the museums, literally from all over the world! It is no longer unusual to have people tell us they are from Chile, or Barbados, or South Africa. They tell us they love to go to small towns and visit small museums rather than the spacious city museums. They learn so much more by interacting with the greeters and seeing objects up close. That is one of my great joys, just talking with people. I’m not comfortable just walking up to someone and striking up a conversation, but the museum gives a relaxed context for doing just that. I find that these interactions are one of my favorite things.”
How to Get Involved
Volunteering is a great way to get involved with the Poulsbo Historical Society. They are in need of folks willing to act as greeters in the three museums. Time slots are fairly short (3 hours a week), and fun. Another area of need is working with the maintenance crew. They need people with basic skills or those willing to learn. The crew performs minor repairs on buildings, hauls exhibit props in and out, makes dump runs, cuts the grass, waters the lawn, and other tasks that need strong backs and willing hearts. Also, they are always on the lookout for people willing to work on their auction in many different ways. Judy said, “There are so many different areas we need fresh help with. If someone has a skill they’d like to volunteer, we can always match them up with a need.”
For as low as $25, you can become a member of the PHS. Membership benefits include special events, discounted pricing for ticketed events, and the inside scoop for all goings on.
Additionally, tickets are now on sale for the 13th annual Codfish Dinner, their largest annual event. It will be held at the Clearwater Casino on April 20, 2024.
Windermere Poulsbo’s Involvement
We strongly believe in preserving Poulbo’s history. Our office worked with the Poulsbo Historical Society for Community Service Day in 2021. We had different crews helping in different ways. One worked in the archive center. Another crew tackled repair and maintenance projects at the Maritime Museum. A third group took care of the weeds in the flower beds at the Martinson Cabin and at the Heritage Museum. Judy shared, “You were busy all over town and accomplished so much in just one day. We really appreciated the help and cheerful willingness to tackle so many jobs. Many people don’t realize how much a service day like that means to organizations in town that rely on volunteer help – especially organizations like the Historical Society that have so many senior members who are unable to tackle physical work. I would encourage other businesses and groups like Windermere to consider service days.”
Photo from Windermere’s Community Service Day.
Working Together to Preserve Poulsbo’s History
Judy works with like-minded community members who work hard to preserve Poulsbo’s history. “Working with the board and volunteers for as many years as I have, I can honestly say that there have been very few disagreements among us. People in this organization want to see it accomplish its mission and grow. They are congenial, friendly, and excited to be a part of such an active and healthy organization. We sometimes wonder who will replace the older membership but then realize that we do have younger, energetic volunteers who have come on board in recent years who are going to be where we were 30 years ago when we were replacing the seniors who came before us. We have faith that the Poulsbo Historical Society and Museums will be around for another generation to enjoy.”
There is so much to learn about the Poulsbo Historical Society. Check out our previous blog article, or this piece by West Sound Home and Garden.
Short-Term Financing with a Windermere Bridge Loan
Buying and selling a home at the same time is challenging for a variety of reasons. Often, homeowners need their home to sell to have enough money available for the down payment on a new home. A bridge loan is helpful if you can’t wait for your home to sell in order to purchase a new home. Let’s dive into the details.
What is a Bridge Loan?
In real estate, a bridge loan is a short-term loan that allows buyers to borrow a portion of equity in the property they already own. For most homeowners, this means borrowing existing home equity to use as a down payment on a new house. The bridge loan also helps improve immediate cash flow to cover other expenses and financial obligations. Similar to a home equity loan or a mortgage, bridge loans are secured with your current home as collateral.
When securing a bridge loan, you do have to meet certain criteria to qualify since these loans are considered higher risk. Lenders look for a low debt-to-income ratio, a good credit history, and considerable equity in your current home. As a result, a bridge loan may be out of reach for some homeowners.
Windermere Bridge Loan Benefits
Windermere offers an exclusive bridge loan program for clients to help with financing a new home while their current home is still for sale. The bridge loan gives you the confidence to move forward by providing upfront funding using the equity from your current home so that you can make a non-contingent offer on a new one. Windermere’s Bridge Loan program gives you a stronger negotiating position and eases the pressure of having to sell before you buy.
Being able to make a non-contingent offer allows you to be a competitive buyer in a tight housing market. You don’t want to lose the new house of your dreams because you’re waiting for your current home to sell. A non-contingent offer is more attractive to sellers because they don’t have to wait for your home to sell first before closing the deal.
Windermere Poulsbo’s Branch Manager, Julie Bray-Larsen, recognizes the advantages of the Windermere Bridge Loan. In fact, she used the program for her personal home purchase. “The Windermere Bridge Loan allows buyers to compete in a competitive market. With an approved bridge loan, the buyer becomes a cash buyer without a finance contingency and has no monthly payments for 6 months or until they sell the collateral property. There is no appraisal involved on the property being purchased, and the entire process is seamless!”
Windermere Bridge Loan Process
When determining the bridge loan, Windermere looks at the amount you owe on your home, plus the bridge loan. These two loans combined cannot be more than 75 percent of the value of your current home. This helps determine the qualifying bridge loan amount. The approval process for a Windermere Bridge Loan only takes a few days.
No payments are necessary on the loan before your home closes unless you choose to make a payment. The loan fee is just one percent of the loan amount, due upon disbursement of the loan. The principal and interest are due when your current home sells or six months following disbursement, whichever comes first.
What about Interest Rates?
Don’t let higher-than-average interest rates stop you from moving forward with buying a new home. Bridge loans are short-term loans with higher interest rates than regular loans, regardless of what’s happening in the broader economy. This downside is outweighed by the ability to buy the house you want by making a competitive offer.
Additionally, although the current interest rates average 6.75% for a 30-year fixed mortgage in Washington state, real estate experts often say you marry the home, but date the rate. You can always refinance when the rates go down.
Taking the Next Step
If you want to learn more about the Windermere Bridge Loan program, please contact a Windermere Poulsbo real estate agent. They will be happy to answer any questions you have.
2024 Interior Design Trends
The experts have weighed in and 2024’s interior design trends are all about embracing colors and fabrics that add warmth and texture. Eco-friendly ideas will also continue to play an important role in our living spaces. Read on to gain tips and inspiration to enhance your living space.
A Peach Perfect Color of the Year
PANTONE selected 13-1023 Peach Fuzz as the 2024 Color of the Year, which provides a soft, warm glow. If you’re new to interior design trends, the PANTONE Color of the Year is an educational program that began in 1999. It was created to celebrate the design community. Additionally, their detailed selection process involves analyzing global trends, encompassing art, design, fashion, and socio-economic influences. Leatrice Eiseman, Executive Director of the Pantone Color Institute, said in a statement, “In seeking a hue that echoes our innate yearning for closeness and connection, we chose a color radiant with warmth and modern elegance. It’s a shade that resonates with compassion, offers a tactile embrace, and effortlessly bridges the youthful with the timeless.”
We think this pretty pinkish hue would be a great addition to any living room or bedroom through peach accent pillows and/or a cozy throw blanket. Additionally, these taper candles would brighten any dining room. This printed tablecloth in apricot also aligns with the color of the year, as do these table lamps.
Embrace Warm Neutrals
While interior design trends still speak to the beauty of a bold accent color, warm neutrals are very in right now and can be used throughout your home. Warm neutral paint colors help soften brightly lit spaces and provide a welcoming, cozy vibe. More specifically, experts have predicted a return of warm whites to homeowners’ color palates. Additionally, many interior design professionals have spoken about the return of browns. Whether it’s brown walls or wood furniture, this neutral color can connect us back to nature. Check out these beautiful reclaimed wood tables from Crate & Barrel. This modern farmhouse wood mantel adds a touch of rustic charm.
When it comes to applying the interior design trend of using brown in your home, interior designer Alison Palevsky offers this tip: “Light brown tones make a brilliant backdrop for any space because you can layer materials such as metal, wood, fabric or paint all in the same neutral family. If the space you’re designing remains mostly neutral in color, adding even the smallest amount of pattern or texture will show it off.” Interior designer Heather Goerzen suggests using warm color combinations in your home. For instance, Goerzen suggests using neutrals with pops of brown and brick red. Alternatively, Goerzen likes a camel, brown, or marigold hue paired with cool accent colors, like green and blue.
Interior Design Trends that Use Bold, Dark Colors
Attention-grabbing dark colors can pair nicely with a lighter, neutral color. Professionals in the interior design world are also highlighting the use of bold, dark colors. First, the paint brand Behr chose Cracked Pepper as their color of the year. Then, paint brand Benjamin Moore chose Blue Nova 825, as their “it” color. These colors can really accentuate specific areas of your home. Perhaps either one would be perfect for a new accent wall. Or, consider a dresser makeover DIY project that uses one of these bold colors.
Add Texture to Your Home
Texture and textiles are enhancing living spaces in 2024. Boucle furnishing accent pieces and fluted cupboards can really make your home feel more inviting. Additionally, patterns are really popular. Think terra cotta tiled flooring and geometric wallpaper.
Environmentally Sustainable Pieces
Interior designers are also focusing more on how and where products are made. Handmade pieces and those that are made sustainably are adding a unique touch to interior spaces. Many consumers are more willing to invest in products and furniture that are eco-friendly and can withstand multiple uses. For ideas and inspiration, Architectural Digest published a useful guide explaining how to shop for sustainable furniture.
More Info & Inspiration
For more helpful tips and inspiration, check out our Q & A with Poulsbo interior designer Kristin Alvarado. Additionally, this Martha Stewart article can jumpstart your next painting project. Check out these design trends from The Spruce for other ways to incorporate earthy tones, bring the outdoors in, and more.
Home Buying 101: Important People Involved in the Process
Purchasing a home is a collaborative journey that involves various professionals working together to ensure a smooth process. You may think primarily about you as the buyer and the seller, but there are many others involved. Understanding the roles of key individuals in the home buying process is crucial. Here are some important people to consider throughout the process.
Real Estate Agent: Guiding & Advocating For Your Needs
Your buyer’s agent is your partner in the home buying process, offering specialized knowledge and resources to help you find your dream home. From initial search to closing, their expertise and compatibility with your preferences are essential for a successful collaboration. Additionally, a local agent will provide valuable resources if you’re new to the area. A top-notch agent will know the local housing market well, providing helpful information about the community and specific neighborhoods. You want someone who is well-connected, has great local recommendations, and can really leverage their expertise to help you find a home and a community that suits you. When it comes to crafting offers and negotiating on your behalf, you want someone who will listen, collaborate, and serve as your advocate.
Mortgage Lender: Turning Dreams into Reality
Securing financing is a pivotal step in the home buying process. Mortgage lenders provide various loan options, and getting pre-approved demonstrates your readiness to buy. Choosing the right lender ensures a seamless financial journey toward homeownership. To learn more, read our Q & A with Mortgage Consultant Cherie Kesti. You’ll also want to read about why a local lender can make a huge difference. And, you may want to consider a mortgage rate buydown. This allows you to secure a lower interest rate on your mortgage.
Mortgage Broker: Navigating Financial Terrain
Working alongside your real estate agent, a mortgage broker focuses on securing favorable mortgage terms for your home loan. They bridge the gap between you and the lender, ensuring a smooth transition once the ideal loan product is identified.
Underwriter: Approving Loans
Underwriters play a critical role in the mortgage process, assessing credit history to determine loan approval. Their meticulous review is essential. Any issues may lead to denial or requests for more information before granting approval.
Home Inspector: Unveiling the Home’s Secrets
A thorough home inspection is crucial for identifying necessary repairs. The inspector’s findings set the stage for negotiations with the seller. Buyers often include a home inspection contingency in their offers for potential renegotiation. To learn more, check out our article on how to negotiate after a home inspection.
Home Appraiser: Valuing Your Investment
A professional appraiser assesses a home’s value to ensure the lender is providing the correct loan amount. Their impartial evaluation considers various factors, and any disparities may prompt renegotiations between the buyer and seller.
Listing Agent: Facilitating Transactions
Representing the seller, the listing agent works with your agent to finalize offer details and progress toward closing. Post-inspection, the listing agent becomes the primary contact for repair requests and negotiations.
Title Company: Ensuring Legal Clarity
Before officially owning the property, a title company conducts a thorough search of the property’s history and public records. This ensures the title is in good legal standing, with proper recording of ownership transfer during the closing process.
Homeowners Insurance Company: Protecting Your Investment
After purchasing a home, securing homeowners insurance is crucial. Policies cover various aspects, including property damage, personal belongings, and living expenses during displacement. Tailoring coverage to your home’s specifics ensures comprehensive protection as a homeowner.
We wish you the very best on your journey, and here’s a helpful home-buying checklist to help you get started.
