Buyers • August 7, 2025

What Is a Homeowners Association and How Much Are HOA Fees?

by Don Koonce

Becoming a homeowner comes with many responsibilities, but if the home you’re purchasing requires you to be part of a Homeowners Association (HOA), you’ll have to follow additional guidelines and pay additional fees. As you’re looking for homes, talk to your agent about whether purchasing a home that’s part of an HOA is right for you.

What is a Homeowners Association (HOA)?

A Homeowners Association is an organization that governs a community of homes. Homeowners within the governed community must follow certain guidelines for property upkeep and maintenance and will face restrictions on their ability to make additions and/or changes to the property. These rules exist to maintain a standard level of quality amongst the community to maximize property value.

Different HOAs may have different stipulations based on the type of housing they govern. For example, an HOA may oversee a community of detached single-family homes, but they are commonly found in communities of condo or townhome housing styles where there is a shared, communal living style. Each HOA has a Board of Directors in charge of enforcing rules, collecting fees, and managing the funds, and certain associations may hire a third-party management company to help the Board of Directors carry out their operations. The members of an HOA are the residents who live in that community. Here are some examples of typical HOA property restrictions:

Exterior paint color choices must be submitted for approval
Grass must be mowed regularly
Flower beds must be kept weed-free
Noise regulations and/or noise curfew
Pet restrictions (type of animal and/or number of pets per household)

Homeowners Association (HOA) Pros and Cons

Living in an HOA community means your property will maintain its curb appeal and you can live with the knowledge that systems are in place to protect property values. However, the benefits come with additional restrictions on your freedoms as a homeowner while increasing your monthly payments.

Overhead view of a miniature model house sitting on tax paperwork next to a calculator

Image Source: Getty Images – Image Credit: mphillips007

How much are HOA fees?

If you buy in a development governed by a Homeowners Association, you will be required to pay HOA fees on top of your monthly mortgage payment. Typically paid monthly, HOA fees go toward the neighborhood’s shared spaces, property maintenance, and amenities. Homeowners Association fees vary greatly depending on the particulars of that community’s agreement. These fees often cover landscaping costs, parking, community security, garbage pickup, maintenance and repair, insurance, and other amenities, such as a shared pool or gym. If the home is your primary residence, your HOA fees are not tax-deductible.

HOA fees are an additional expense you’ll have to budget for when buying a home. To get an idea of what you can afford, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price, accounting for any HOA fees you may incur.

Sellers • August 5, 2025

Understanding the Value of Your Home: Market Value vs. Assessed Value and More

by Don Koonce

The math of a home sale is relatively straightforward. Sellers list their home at a certain price, a buyer makes an offer, and eventually the two parties reach a final, agreed-upon price. However, between these two points in the selling process, there are several other figures that go into to setting a home’s value that you should be aware of. Your real estate agent will be your best resource in interpreting the different values associated with your home and what they mean as you prepare to sell.

Understanding the Value of Your Home

Listed Price (Asking Price)

Also known as an asking price, the listing price of a home is the price at which a seller lists their property when it goes on the market. The listing price is a gross price, meaning the costs associated with selling the home are not included. A real estate agent’s Comparative Market Analysis (CMA) will accurately set your home’s listing price, accounting for the various factors that influence home prices including location, condition, seasonality, local market conditions, and more.

The listing price is a starting point for negotiations with buyers. You may receive an offer that matches your asking price, but it’s common for buyers to make offers at other price points. You can either accept, reject, or make a counteroffer in response until you and the buyer reach an agreement.

Whether you’re selling in a buyer’s market or a seller’s market may determine you and your agent’s approach to the listing price of your home. There may be certain pricing tactics you can employ to either drive buyer attention or increase competition, but if your home’s listing price strays too far from its market value (see below), it could stay on the market for longer than you expected.

Market Value

As a seller, you’re interested in what buyers are willing to pay for your home. By taking into account a home’s condition, size, curb appeal, and features, as well as local market conditions and what comparable homes are selling for, a home’s market value reflects the price buyers will pay for a property.

Appraised Value

A home’s appraised value is determined by a professional appraiser to ensure that the lender is loaning the correct amount of money for the home. Appraisers assess the home’s layout and features, square footage, gross living area (GLA), overall condition inside and out, home updates and remodels, and more. If the appraised value comes in too low or too high, the buyer and seller must renegotiate for the deal to go through. In competitive markets, buyers may include an appraisal gap guarantee in their offer, which states that the buyer will cover the difference between the price of the home and the appraised value.

Sale Price (Purchase Price)

Also known as the purchase price, your home’s sale price is what it ultimately ends up selling for. Once you and the buyer have reached an agreement on the terms of the transaction, the buyer will have the home inspected and final negotiations may occur based on the findings of the inspection. Familiarize yourself with the Common Real Estate Contingencies buyers may include in their offer and what they mean when selling your home.

Net Proceeds

So, how much do you actually make on the sale of your home? After subtracting the total costs of selling from your home’s sale price, you’ll arrive at your net proceeds. This is the amount you walk away with from the transaction.

Assessed Value

Your agent’s CMA is a reliable method of determining your home’s value for its eventual sale, but its assessed value is used for taxation purposes. Employed by local municipal or county entities, an assessor will conduct a review of your property to determine its assessed value. The assessor’s findings are passed to local tax officials, who use that number to calculate the home’s property taxes.

Featured Image Source: Getty Images – Image Credit: kupicoo

Living • August 1, 2025

Bedding Basics: How to Fold a Fitted Sheet (and Other Handy Tips)

by Don Koonce

There’s something about slipping into a freshly made bed that just feels right. Crisp sheets, fluffed pillows, and a neatly folded duvet can turn even the simplest bedroom into a relaxing retreat. But before you get to the cozy part, it helps to know a few behind-the-scenes tricks, starting with how to properly fold a fitted sheet.

Whether you’re staging your home for buyers, organizing the linen closet, setting up a guest room, or want to bring more intention into your everyday routine, these tips can help you fold, layer, and care for your bedding like a pro.

The Secret to Folding a Fitted Sheet

Fitted sheets are notoriously frustrating to fold. But with a few simple steps, you can turn that tangled ball of fabric into a smooth, crisp square that stacks neatly in your linen closet.

1. Find the Corners

Hold the sheet lengthwise with the shorter sides hanging down and the longer sides running horizontally across your body. Place one hand inside each of the top two corners and flip the corners inside out. Turn the sheet to make sure the seams are facing you and the elastic is facing away.

2. Tuck the Top Corners

Take the corner in your right hand and fold it over the corner in your left hand, so the two corners are neatly tucked into each other, creating a pocket. Switch hands so that the pocket is now in your right hand.

3. Repeat with the Bottom Corners

With your right hand still inside the pocket you just made, reach down along the elastic with your left hand and locate the other pocket created by the bottom two corners. Holding both pockets in front of you, clap your hands together, tucking one pocket into the other. All four corners should now be tucked into each other, forming a rounded square shape.

4. Flatten and Shape

Place the sheet on a flat surface and square it off, smoothing and tucking any loose edges as you go. The elastic should form a “J” shape.

5. Fold It Up

From the bottom of the “J”, fold the sheet into thirds. Then fold the long rectangle into thirds again. The result should be a compact, tidy square that stacks easily in your linen closet.

How To Fold A Fitted Sheet Easily – Video By Sleepopolis

More Tips to Keep Your Bedding Looking (and Feeling) Its Best

Rotate your sheets weekly to help them wear evenly and last longer.
Make putting on a duvet cover easier with the roll-up method (a.k.a. the “burrito” trick)
If you share a bed with a partner, try the Scandinavian sleep method by using two separate duvets for better sleep and fewer blanket battles.
Add pillow protectors under your pillowcases to help extend the life of your pillows and keep them clean.
A light linen or pillow spray can refresh your bedding between washes and create a calming bedtime ritual.
Store sheets inside a matching pillowcase to keep your linen closet neat, organized, and easy to navigate.
Size up your duvet insert for a fuller look and a cloud-like feel. You can also double up on duvet inserts for added warmth and a stylish look.
Layer with intention by using extra pillows and textured throws.
Ironing your pillowcases takes just a minute and makes your bed look freshly washed and made.
If your sheets tend to slip off the corners, try sheet holders, or you can even repurpose a few chip clips in a pinch.

Looking for more ways to elevate your space and simplify your daily routines? Visit the Living section of my blog.

Buyers • July 31, 2025

Is Co-Buying Right For You?

by Don Koonce

For some buyers, purchasing a home independently may be out of reach. Co-buying is an alternative approach to homeownership where two or more individuals purchase the property together and take on a joint mortgage. Get to know the benefits and drawbacks of co-buying before deciding whether it’s right for you.

How Does Co-Buying Work?

Just like a traditional home purchase, lenders use the buyers’ debt-to-income ratios and credit scores to determine their mortgage eligibility and formulate the terms of their loan. The lender will use the lowest median credit score to determine whether the co-buyers qualify. Before you purchase with a co-buyer, work with a real estate attorney to flesh out the details of the agreement including the distribution of shares, the responsibility of each party for the down payment and subsequent mortgage payments, and the home’s title. There are two main options for taking title to a home with a co-buyer.

Tenancy in Common (TIC)

When co-buyers hold a title as tenants in common, shares of the property can be divided equally or unequally. You and a co-buyer can decide to split ownership to reflect the amount invested. However, even if these amounts are unequal, no one individual may claim sole ownership of the property. If a co-buyer dies, their ownership passes along to their designated heir. With Tenancy in Common, a co-owner may sell their shares of the property at any time, without the need for approval from other co-owners.

Joint Tenancy

Joint Tenancy—or Joint Tenancy with Right of Survivorship (JTWROS)—requires that all co-buyers hold an equal interest in the property and that they all come into ownership through the same title at the same time. If one co-owner dies, ownership passes to the other co-owner—this is known as Right of Survivorship. Unlike Tenancy in Common, co-owners must receive approval before selling any property shares.

Pros and Cons of Co-Buying

Pros of Co-Buying

For those who don’t have the buying power to purchase a home on their own, co-buying presents an opportunity to combine assets and enter the market. Since lenders will be factoring in both of your incomes, you and your co-buyer will increase your chances of being approved for a mortgage and securing a low interest rate. Both of you will build equity over time as you pay back your joint mortgage. Even after the down payment and mortgage payments, there are a handful of costs that come with being a homeowner. Co-buying allows you to split these costs, saving money on bills, utilities, maintenance costs, and the like.

Cons of Co-Buying

Co-buying a home means you are relinquishing some control over the homeownership costs. At the end of the day, you can’t control your co-buyer’s finances. If a sudden life change leaves them financially unstable, the burden will fall on your shoulders, and you’ll have to make up the difference. Similarly, your credit score could take a hit if your co-buyer is unable to make their mortgage payments, even if you’ve consistently made yours.

Before entering a co-buying agreement, it’s important that you and your co-buyer are on the same page about the terms of ownership and your expectations as joint homeowners. Working closely together will help maintain the health of your finances, and most importantly, your relationship.

For more information on purchasing a home, visit the buying section of my blog.

Living • July 29, 2025

How to Handle Water Damage In Your Home

by Don Koonce

Even if you’ve done all you can to prevent water damage in your home, there’s still a possibility it could occur. During a water damage emergency, it’s important to have a plan in place and be proactive to make sure things don’t go from bad to worse.

How to Handle Water Damage In Your Home

If your home is in danger of flooding, evacuate the area until it is safe to return. In all other situations, as soon as you notice any water damage, it’s time to act quickly to prevent further damage. Water reaching an electrical source spells danger, so be sure to switch off your circuit breakers to cut the electricity. If your circuit breakers are in the same room as the source of the water damage, it’s best to stay away and call an electrician. Unplug devices from outlets as well to avoid getting shocked. In all situations, wear rubber boots, gloves, and protective gear.

After the electricity has been turned off, the next step is to find the source of the water damage. In the case of a burst pipe or a leaking hot water tank, cut the water supply by switching their shut-off valves. If the water damage has occurred in a small, contained area, you may be able to handle the repair independently. But if the water damage has spread to a large area, it will require a professional.

Moving furniture, household items, and possessions not only helps to protect them, but will also clear the area for when professionals arrive, allowing them to get right to work. If the water continues to flow while the technician is on their way, try to prevent further damage by slowing its spread using buckets, towels, and mops. These items don’t have the salvaging power of a professional’s tools, but anything you can do before they arrive could help to prevent further damage.

Water Damage – Insurance

Contacting your insurance company as soon as possible will help to navigate the situation. Find out what steps they may require you to take in the event of a flooding emergency. It’s helpful to get a claims adjuster to your home quickly to assess the situation and provide estimates on the potential cost of making repairs. Water damage can easily feel overwhelming and chaotic, but it’s important to photograph the incident. Take photos of the source of the damage, where it spread, and the damage it caused—both to the home and any personal items of value. Documenting the incident will inform your claim with your insurance company.

Whether the damage is covered by your insurance depends on the source of the problem and how your policy is arranged. If the damage was a result of an underlying condition that worsened over time, your claim may be denied. If this happens, ask for a detailed explanation to understand the gaps in your policy. This emphasizes the importance of regular home maintenance on the systems that control the water in your home. Even if you run into a costly repair, it’s better to be aware of deficiencies and fix them than to wait and be faced with a full-fledged emergency later on. Take time to review your policy as is and understand what you as the homeowner are ultimately responsible for in the event of an emergency.

For more information on how to get ahead of potential home emergencies, read Windermere’s guides on preparing for wildfires and winter storms.

Design • July 24, 2025

The Best Indoor Plants for Every Room

by Don Koonce

With thousands of plant species, it can be hard to distinguish which plants are best suited for each room in your home, which greatly depends on sunlight exposure and temperature. A simple rule of thumb is to make higher maintenance plants more accessible to you. Some lower maintenance plants can go weeks without watering and require very low levels of sunlight.

Here’s a quick guide on indoor plants and where to place them in your home based on the level of care and management.

The Best Indoor Plants for Every Room

Living room

A monstera, a.k.a. Swiss cheese plant, works well in the living room due to its size and their natural inclination to climb. Providing a monstera with a stake or a trellis will bring about some decorative growth. Another large plant, the fiddle-leaf fig, works well in larger rooms. Fiddle-leaf figs tend to be more top-heavy with their large, floppy leaves. Both of these plants could work well next to a couch or sitting area where there is ample overhead space for the leaves. These large-leaved plants are typically happiest with indirect sunlight. Proper watering can be determined by observing the dryness of the soil. Once the top of the soil is dry to the touch, which is typically once a week for these plants, it’s time to give them a shower.

Bedroom/Office

Spider or jade plants can be great to have on a desk, and also work well to fill up shelving space. Adding a plant to a bookshelf here and there adds texture and brings a sense of wellness to the space, which is especially important when you’re working long hours from home. You could even swap a bookend for a plant to liven things up. Both of these plants are low maintenance and thrive in partial sun or shade. These plants typically require watering every two weeks, but when in doubt, check the soil to see if it’s dry.

Bathroom

Plants that require low levels of sunlight and enjoy high humidity—like ferns or bamboo—are great for the bathroom. Place them on your shower shelves or on a countertop to give your bathroom a spa-like feel. Because they can absorb water from the shower steam, they can go up to three weeks without a proper watering. Pothos, or Devil’s Ivy, is another great houseplant for the bathroom. They like to grow downward in a draping manner, so you can get creative with a hanging basket display.

Kitchen

Two plants that work well in kitchen spaces, such as on windowsills or in corners, are the Snake Plant and Cast-Iron Plant. The snake plant is known for its resiliency, and its thick leaves can handle the occasional splash from the kitchen sink or accidental bump from pots and pans. The Cat-Iron Plant is one of the toughest houseplants you’ll find. Where another plant may wither and die, the Cast-Iron Plant survives. Both are low maintenance plants can last weeks without watering. No green thumb? Fear not. These plants will keep on keepin’ on through harsh conditions or neglect, and their bright green leaves will help give your kitchen a fresh look and feel.

As the seasons change, your plant care routine will need to adjust to climate conditions. Some plants are known to go dormant in the darker months and require less amounts of water and sunlight. During springtime, fertilization can be done by adding fertilizer to the top of the soil.

Before you bring a new plant home that could end up in the hands (or paws) of a child or pet, do some research to be sure it’s safe for everyone in your household. Organizations such as the APSCA and the National Poison Center offer online sources to research the plants you plan on bringing home.

Real Estate Listings • July 22, 2025

NEW LISTING: Custom-Built Home in Leschi

by Don Koonce

215 31st Avenue
Seattle, WA 98122
$1,400,000

Beds: 4
Baths: 3
Size: 2,340 sqft
Days on OneHome: 3

Extraordinary offering! Custom-built one-owner home on grand 12,000 sqft. lot with territorial views in Leschi. Unique multi-level design, tongue & groove ceilings, hardwood & parquet flooring, sunroom, skylights, huge Primary bedroom w/ private bath. Expansive yard & wrap around decks for entertaining, mini-splits for A/C. Secure parking in 2car garage + guest parking in driveway. All within short hop to nearby Leschi shops, eateries, Lk WA, parks & bike paths. Metro #27 just 2 blocks away goes downtown Seattle, Judkins Light Rail approx. 1 mile for UW, International District, SeaTac International and beyond. Golden opportunity to reinvent/renovate, live on a rare estate lot in dream location. Any development potential to be verified by Buyer.

Click here for more information.

Real Estate News & Information • July 17, 2025

Local Market Update – July 2025

by Don Koonce

Housing inventory across the Puget Sound climbed again in June, marking another month of double-digit year-over-year growth in active listings. While more homes on the market offer buyers greater selection, the uptick in demand hasn’t yet caught up to the surge in supply. In all four of our local markets, conditions continue to shift in buyers’ favor. Compared to May, signs of buyer movement improved slightly – but overall, many remain hesitant, especially as interest rates hover near 7%.

In King County, the median sold price for residential homes rose 7% in June, reaching $1,033,950. Buyer activity gained modest ground, with pending sales up 4% and closed sales rising 3%. Even so, inventory continued its upward climb – active listings increased 50% compared to last year. The condo market showed similar momentum, with a 4% bump in the median price to $576,000 and a 41% gain in active listings.

Seattle’s housing market was the most active last month. The median residential sold price jumped 13% year over year to $1,079,950, as demand remained strong despite a 35% increase in listings. Homes moved quickly – 86% sold within 30 days – and competition stayed high, with 39% of properties selling above asking. Pending sales climbed 16%, and closed sales were up 23%. The city’s condo market also gained ground, with median prices up 7% to $589,000 and listings increasing 26%.

The Eastside continues to feel the weight of rising inventory. Active listings jumped 92% compared to last June, giving buyers more leverage. As a result, the median price for a single-family home dipped 2% to $1,610,000. Closed sales also slipped 2%. Notably, over half of June’s homes sold below list price or after a price reduction – an indication that negotiations are playing a bigger role. However, the condo market told a different story: prices rose 22% to $780,000, while listings increased 91%.

In Snohomish County, a more balanced market began to take shape. Inventory rose 45% from June 2024, while the median single-family home price declined 2% to $815,000 – the first year-over-year price dip of 2025. Increased competition among sellers likely contributed to nearly half of homes selling below list price or after a price adjustment. Closed sales rose 5%. Meanwhile, the condo segment surged: median prices climbed 13% to $600,000, and active listings soared 81%.

Across the region, inventory continues to build as buyers weigh their options amid affordability concerns and high mortgage rates. Whether these dynamics persist – or give way to renewed buyer confidence – remains to be seen. In a shifting real estate environment like this, having an experienced Windermere advisor by your side can make all the difference.

Click here to read more.

Sellers • July 15, 2025

Selling Your Home with Pets? Here’s What to Know

by Don Koonce

For pet owners, it’s hard to imagine their home without a furry friend. However, when it comes time to sell, showcasing the qualities of a home should take precedence over the pets that live in it. This creates additional steps in the process of preparing your home for sale, but it makes all the difference in the minds of buyers.

Selling a Home with Pets

Staging Your Home

A well-staged home makes it appealing to the widest variety of buyers and has significant ROI potential when it hits the market. However, having a pet can complicate the staging process. Buyers may lose interest in the home if they see traces of pets, so it’s a good idea to hide any signs of their presence.

It’s especially important to hide evidence of your pet in marketing photos. Prepare for your home’s listing photos by cleaning and vacuuming, making sure all pet stains are gone and any pet-related damage is repaired. Stow any pet carriers, cages, toys, food bowls, and other supplies that may hinder the photographer’s ability to capture the essence of a room.

Showing Your Home

Before inviting potential buyers inside, it’s best to give your home a deep clean to improve your home’s air quality and to rid your carpets, flooring, and surfaces of pet odors and any dirt they may have tracked in over time. Provided you’re using your own furniture, vacuum and clean everything to extract as much fur and pet dander as possible. Talk to your agent to see if it’s a better idea to stage your home with rented furniture. If your pets have caused any damage in the home, make repairs or replacements as needed. After tending to your home’s interior, don’t forget to clean up after your pets in your yard as well. Fill in any holes in the lawn, freshen up your flower beds, and tidy up any areas of the landscaping where your pets may have dug.

After you’ve prepared your home for showings, there’s the question of what to do with your pets once buyers start taking tours. Ask a family member, friend, pet sitter, or neighbor to watch your pets while the showings take place. If you’re not able to find someone to watch them, form a strategy to temporarily relocate your pets during showings. If they must stay in the home, garage, or backyard during tours, it’s best to give buyers advanced notice that there are pets on the property. Talk to your agent about posting signage communicating their presence so that there are no surprises as guests make their way through the house.

Taking all these precautions will help to present your home in the best light without deterring certain buyers, for whom the signs of a pet may cause them to lose interest. On the other hand, if any buyers inquire about how the home can accommodate their pet, you and your agent will be more than ready to answer any questions they may have.

Selling Your Home

For more information on the process of selling your home, visit the Selling Page on our blog. To get an idea of what your home is worth, try our free home value calculator below:

What is my home worth?

Living • July 10, 2025

Lead Paint: Tips for Testing and Removal

by Don Koonce

In the past, lead paint was commonly used to paint homes. Its durability and resistance to moisture were its greatest assets, but it was only a matter of time until health officials discovered its poisonous properties, and in 1978 it was officially banned. Lead paint causes a variety of health issues and is especially harmful to children, so those living in homes built during the lead paint era should be aware of its dangers, how to detect it, and how to go about removing it safely.

Testing for Lead Paint

You won’t know whether lead paint exists in your home unless you test for it. There are a variety of do-it-yourself testing kits available, but their results may vary and can sometimes be prone to false positives, depending on the active testing agent. Given the variability with DIY testing, it may be best to hire a professional to test for lead paint in your home—both for accuracy and peace of mind. You can also choose to send a paint sample into a lab for testing.

Dealing with Lead Paint

If you discover lead paint in your home but it is still intact, encapsulation may solve the problem without having to remove it. Encapsulation is the process of painting over the areas where lead paint exists using a special coating that seals in the lead paint layer underneath. This is often the more affordable way of dealing with lead paint, but the coating may wear off over time, leaving you back at square one.

If you’re thinking about selling your home, the presence of lead paint is a necessary disclosure. Know that buyers generally view a home with lead paint as unfavorable, given its serious health risks and dangers. If you’re thinking about remodeling, testing for lead paint is a wise first step before you start knocking down walls or ripping through sheetrock.

Removing Lead Paint

The more your paint is cracked, chipped, or damaged in any way, the riskier it is. Any signs of deterioration in a lead paint-based home should be dealt with by removing it as soon as possible.

Removing lead paint on your own is generally not advised. It requires specific training and materials, as well as many preventative measures including creating a sealed exit, wearing protective clothing, properly covering the various surfaces in your home, and proper execution of removal to ensure you’ve vanquished all the lead—just to name a few.

Like any other home improvement project, it’s best to consult lead paint removal professionals in your local area and compare their quotes before making your choice. Before the pros come, you can prepare by clearing away any paint chips that have fallen, thoroughly cleaning the surfaces in your home, and encouraging your household and guests to refrain from touching those surfaces.

For more information on preventing damage to your home, read our guide to dealing with mold.

How to Prevent and Deal with Mold