Sellers • June 14, 2022

Should You Refinance or Sell Your Home?

by Don Koonce

Homeowners can often reach a financial fork in the road when they must decide to either refinance their existing mortgage or sell their home. Each route has its respective advantages depending on your financial health, the mortgage rate market, and the future needs of your household.

Refinancing vs. Selling

When working to ease the financial burden of your existing mortgage, you have two options: refinance or sell. Refinancing your home allows you to renegotiate the terms of your loan and lower your monthly mortgage payment, while selling has the potential to put enough cash in your pocket to pay off your mortgage entirely. So, how do you decide between the two? Understanding a bit more about each option can help you determine which is best for you.

Refinancing Your Home

There are a few reasons why homeowners will typically refinance their mortgage, the most common of which being falling interest rates. Lower interest rates, after a reassessment of your mortgage, equate to lower monthly mortgage payments and significant savings over the life of the loan. If your finances have improved since you initially secured your mortgage—for example, your debt-to-income ratio has improved, or you’ve bumped up your credit score—you may be able to lock in a better rate with your lender.

Refinancing your home could also put cash in your pocket. “Cash-out refinancing” allows you to accept a mortgage for more than your principal balance and use the extra money at your discretion. Typically, homeowners will use such funds for large expenses, such as a major renovation or home improvement project.

Homeowners with Adjustable-Rate Mortgages (ARMs) will often refinance and switch to a Fixed-Rate Mortgage due to fluctuations in interest rates, locking in an established rate for the remainder of the loan term.

Refinancing in order to change the length of the loan can be beneficial as well. By switching from a 30-year mortgage to a 15-year mortgage, you could save a considerable amount of money on interest over the life of the loan. If you’re looking to lower your monthly mortgage payment, you could lengthen the loan term. For example, if you’ve been paying off your 30-year mortgage for ten years but are struggling to keep up, refinancing could lower your monthly payment. However, doing so means you’ll be paying for an additional ten years’ worth of interest.

Keep in mind that refinancing your home involves getting a new mortgage, so you’ll have to go through the qualification process again. Assess your financial health and equity before you apply. Once you’re ready to move forward, your Windermere agent can recommend a few trusted lenders or mortgage brokers to provide you with a quote.

Selling Your Home

Alternatively, you can sell your home. Your agent will conduct a Comparative Market Analysis (CMA) to determine the value of your home, accounting for the various factors that influence home prices including seasonality, location, market conditions, and your home’s features.

Although you stand to receive a lump sum of cash, selling your home comes with its own set of costs. Paying for repairs, home inspections, staging expenses, agent commissions, not to mention buying or renting your next home. This can add up, so it’s important to budget properly. Selling your home also means you’ll be uprooting the life you and your household have established there, so it’s important to have a plan for your next steps before the “For Sale” sign goes in the ground.

Buyers • June 9, 2022

Managing Expectations as a First-Time Home Buyer

by Don Koonce

There’s a first time for everything. As a first-time home buyer, navigating the uncharted territory of the home buying process can be challenging to say the least. Although every home purchase is unique, there are certain knowns that can help you manage your expectations. Once you’re ready to buy, knowing a bit more about how to approach the market will have you well on your way to getting the keys to your first home.

Managing Expectations as a First-Time Home Buyer

Local Market Conditions

Your local housing market conditions will loom large in the buying process. In a competitive market (i.e. a seller’s market), prices are being driven up by demand, sellers have the leverage during negotiations, and it may take a long time to find the right home. In such a market, you can expect to compete against multiple buyers where everyone is trying to sweeten their offer to make it stand out. This usually takes the form of waived contingencies, escalation clauses, and all-cash offers. Buying in a competitive market is challenging for any buyer, let alone a first-time home buyer. Having greater buying power and getting pre-approved for a mortgage are two key paths to bolstering your financial standing and improving your chances of submitting a winning offer.

Though finding the right home is never a cakewalk, the conditions of a buyer’s market will be in your favor. In such market conditions, sellers are competing for the attention of a limited pool of buyers and are more flexible during negotiations. With less competition around you, you can afford to be more patient and selective when pursuing available listings.

7 Signs You’re Ready to Buy a Home

Which homes can you afford?

It’s easy to fall in love with a home based on its listing photos, but one look at the price tag can break the spell. By knowing which homes are in your budget, you’ll be able to focus your time and effort on listings that are financially feasible. And remember, there are a myriad of costs to buying a home beyond the listing price to include in your budget.

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 home price. By using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

Working with Your Agent

Fortunately, you don’t have to take on the home buying process on your own. A buyer’s agent will help to manage your expectations from start to finish by helping you look for homes, make an offer, negotiate with the seller and their agent on your behalf, and provide clarity on the closing process. Beyond their ability to get down to brass tacks and help you purchase a home, your agent will be there to answer your questions, validate your emotions, and connect you to their network of helpful resources.

Living • June 7, 2022

5 Tips for Cutting the Cord: Switching from Cable to Subscription TV

by Don Koonce

“Cutting the cord” can mean something different in every household. For some, it’s a complete abandonment of cable TV and the fees that come with it, while in another household it may be a mix of cable- and subscription-based programming. Regardless of where you are in the spectrum, it’s worth it to audit your household’s TV usage and reassess what package deal delivers the most value. Here are some tips to help you make the transition.

5 Tips for Cutting the Cord: Switching from Cable to Subscription TV

1. Budget for Subscription TV

Start by taking a deep dive into your cable or satellite bill. By breaking down the costs of your contract with your cable company, you’ll get a baseline of what you can afford as you begin to select your subscriptions.

Identify the terms of your contract, whether you’re locked in until a future date, and when the contract terminates so that you can plan the logistics of your transition smoothly. Your cable company may charge an early termination fee for contracts that are broken before the specified date.

2. Prioritize Your Favorite Content

Choosing from the seemingly infinite selection of channels and apps can be overwhelming. When compiling your subscriptions, start by analyzing your viewing habits to determine your most necessary outlets. Whether it’s news, sports, classic movies, new movies, children’s programming, or certain prestige TV shows, choose your must-haves first and fill in your remaining subscriptions around them.

Remember that switching from cable means you’ll have to piece together the channels you previously had access to across a collection of apps and services. This often means that you’ll miss out on seeing certain shows live, but you’ll have unlimited access to a given program’s library of recorded content.

3. The Importance of High-Speed Internet

To truly enjoy your streaming services, you’ll need a strong internet connection. In general, an internet speed of least 25 Mbps (megabits per second) is recommended for streaming multiple channels and apps. As you add more devices and services, something closer to and upwards of 50 Mbps will give you a quality viewing experience.

As you shop around for the right internet service, make comparisons between different providers’ prices, download speeds, and data limits. By cross-referencing these three criteria, you’ll be able to identify which internet package is right for you. Read the fine print regarding data usage. Certain agreements may have extra fees that kick in once a certain amount of data has been surpassed. This could get expensive, especially if there are multiple people in your household watching TV frequently.

4. Purchase Your Hardware

There are a bevy of hardware options for streaming TV, including popular devices from Roku, Google, Amazon, and Apple. These devices typically come either with a remote or with an app that allows you to control your TV from your smartphone. If you prefer less hardware, a smart TV may be the way to go. Smart TVs have many of these streaming services built in and available to download. You may also continue to rent a cable box from your cable company to save on your contract costs. This could be helpful if your cable provider offers a bundling package of TV and Internet subscriptions.

5. Invest in Quality Screens

At the end of the day, your viewing experience is only as good as your screens. Investing in high-quality products will be worth it in the long run. One of the greatest benefits of streaming apps and services is their flexibility, allowing you to watch from multiple screens in multiple locations. Accordingly, it’s not just your TV that matters, but any other devices you plan on watching from, including tablets and smartphones. Fortunately, smart TVs have continued to grow in popularity and are now widely available, meaning you’ll have plenty of options to choose from at whatever price point is affordable to you and your household.

Design • June 2, 2022

5 Ways to Incorporate Nature into Your Home

by Don Koonce

Home décor often focuses heavily on the latest and greatest trends. But even the most well decorated home can feel like it’s missing a natural element. Here are five simple ways you can incorporate nature into your home to make it feel more connected to the environment it inhabits.

5 Ways to Incorporate Nature into Your Home

1. Natural Light

Natural light has the power to breathe new life into your home. Place your furniture in your living room and/or dining room to make your get-togethers feel more connected to the outdoors and orient your workspace in your home office near a window to stay productive throughout the workday. By finding ways to let the sunshine in, your home will feel refreshed and lighter. Fortunately, this doesn’t require a heavy investment. Try sheer curtains or new blinds wherever your home’s large windows are. This will help to balance the light in the larger spaces around your home, so you don’t have to rely on artificial light sources.

2. Hardwood Floors / Wood Accents

To truly feel a connection to nature throughout your home, you’ve got to work from the ground up. Making the switch to hardwood floors will significantly impact the look and feel of your home, given the large surface area of such a project. A job of this scale is likely to require the help of a professional, and you may have to find a temporary housing solution while the remodel is being carried out. But you don’t have to go to great lengths to incorporate wood into your home.

Wood accents can deliver much of the same feeling. Experiment with different combinations of driftwood, bamboo, sculptures, and signage throughout various rooms to keep your home thematically consistent.

3. Organic Materials

Materials like stone, marble, and fabrics will not only help to incorporate nature into your home but will make it feel relaxing and cozy as well. A small collection of rocks or stone pebbles with trickling water in the bathroom work every time to evoke a natural tranquility. Stone or marble tile designs and/or backsplashes help to ground a space by providing an earthy foundation. Natural fibers like wool, cotton, and linen can be sprinkled throughout a home to deliver warmth and comfort while reinforcing a natural theme.

4. Decorating with Houseplants

Sometimes you don’t have to replicate nature to make your home feel more natural. You’ll be amazed at how refreshed the spaces feel by decorating with houseplants. However, there are certain rules you’ll want to follow when creating your own personal indoor ecosystem. Research the needs of each plant variety you’re interested in buying before making your final purchases. This will allow you to orient them appropriately throughout your home based on their sunlight needs. Plants that can survive with less sunlight are well suited for the darker corners of your home. If you’re not home often to tend to your plants, consider low maintenance varieties like succulents. Houseplants will add color to your home and improve the air quality while they’re at it.

5. Decorate with Earth Tones

All the aforementioned ways of incorporating nature into your home—natural light, wood accents, organic materials, houseplants—have a signature color palette. Once you’ve decided how these categories can fit into your home, you can decorate around them with complimentary colors.

Fortunately, you won’t be limited for choice. Earth tones run from darker, rich colors like brown and rust to lighter, vibrant colors like light green and sunlight yellow. The use of these colors can be carried out in your remaining accent pieces, such as towels, carpets, pillows, and more.

SOLD • May 31, 2022

SOLD: Homes in Seattle, Tacoma & Puyallup

by Don Koonce

Currently Under Contract Representing Buyers

1743 NW 57th Street #302
Seattle, WA 98107
Listing price: $380,000

Beds: 1
Baths: 2
Days on Market: 3

Easy living in the heart of Ballard! This spacious Bal Harbor corner unit features one bedroom, one and 1/2 baths, a wood-burning fireplace, deck and an in-unit washer & dryer and storage. Enjoy cozy evenings with wood-burning fireplace. Convenient designated parking makes life easy! Built in 1980 this 18 unit building is within steps to popular Ballard Sunday market, tons of cool shops, restaurants, bars, coffee shops and all that Ballard has to offer.

4419 49th Avenue S
Seattle, WA 98118
Listing price: $525,000

Beds: 3
Baths: 1
1,200 sqft
Days on Market: 5

Fantastic opportunity to own adorable home in coveted Lakewood area just waiting for your updates…or build your dream house and take advantage of potential Lake Washington views. Sitting high off of the quiet tree lined street, this cozy period home features 3 bedrooms and 1 bath with formal living and dining room and large kitchen with eating space. Home has great layout and private backyard. Ideal location – 1 block to cafes and fitness center and just a short 5 minute walk to Lake Washington.

1615 S Cedar Street
Tacoma, WA 98405
Listing price: $450,000

Beds: 4
Baths: 2
1,612 sqft
Days on Market: 4

Charming craftsman with a large floor plan to accommodate your lifestyle & hobbies. Located across from Allenmore Golf Club, Hospital, Parks, Tech College & less than a mile to bustling 6th Ave! Enjoy the large, fully fenced backyard featuring a deck, raised garden beds, & a nice sized lawn. Detached garage w/additional off-street parking spots. Beautiful hardwoods, Good sized living space w/ lots of natural light & a cozy fireplace that flows into the dining area with a large, open kitchen. Choose a bedroom upstairs or downstairs, there are two bedrooms on each level. Upper floor includes a bonus room ~ could be an office, walk-in, fitness, or convert to a 5th bedroom. It just keeps going, you can expand your living space into the basement!

Sold Listings this month

14642 8th Avenue SW
Seattle, WA 98166
Listing price: $650,000

Beds: 4
Baths: 1
1,360 sqft
Days on Market: 5

Squeaky-clean rambler in excellent location! Walk to fun coffee shops, bakeries, restaurants & shops in downtown Burien, or stroll to beaches at Seahurst Park when you’d rather recharge with water-sky-trees than Starbucks. This home has been gently lived in, everything newly polished for next owner. Freshly painted interior, hardwood floors, cozy wood-burning fireplace, big picture windows for lots of light, formal dining plus bistro kitchen seating, modern dble-paned windows and doors, easy-care siding. Huge fenced yard with patios and deck for entertaining and/or gardening. 4 real bedrms, 1 located in its own zone for flex use: recroom, home office, more private guestroom, etc. Just move in-make it fancy your way when you’re ready.

12301 133rd Avenue E
Puyallup, WA 98374
Listing price: $1,025,000

Beds: 4
Baths: 4
3,676 sqft
Days on Market: 3

A unique lodge style retreat on a private peaceful shy acre. Owners have worked tirelessly to create a luxurious home built with platinum quality inside & out. Big Mt. Rainier views from most every room, soaring cedar T&G vaulted ceilings, rich wood floors/millwork, new hi-end 2022 kitchen barely unwrapped, new baths, Primary 5-piece ensuite w/jetted tub & steam shower. Huge view decks w/multiple interior entries, 5 skylites, most systems updated within 0-6yrs, state of the art technology, deluxe media rm, gas heat & appl, A/C, tankless H20. Breath-takingly beautiful park like grounds, pond, lighted fountain, etc., all just 10 min to major commute routes & Sumner Sounder transit station. Pamper yourself -destination living year round!

Current Pending Listings

12046 66th Avenue S
Seattle, WA 98178
Listing price: $670,000

Beds: 4
Baths: 2
1,870 sqft
Days on Market: 7

Updated MidCentury in private location at the end of a quiet dead-end street. Popular split-level floor plan has gleaming original cabinetry & hardware in near-perfect condition, pretty quartz & tile upgrades, big picture windows for abundant warm natural light, 2 cozy fireplcs, entertainment-sized deck for gracious outdoor living, extra large well-designed yard w/ established gardens & NW native greenery. 3bedrms main flr (hardwoods here), fully finished Lower Level, 600+sqft garage has shop space and tons of storage! Updated systems, Mini-split HP, A/C. I-5, major commute routes & Light Rail 5min away; shopping, entertainment, parks & recreation all in time-saving 3mile circle. Just move in, relax, spread out, & stay for a long time.

10631 59th Avenue S
Seattle, WA 98178
Listing price: $620,000

Beds: 3
Baths: 2
1,040 sqft
Days on Market: 3

Pretty and polished midcentury ranch home in popular Upper Rainier Beach! Solid built-to-last construction & MCM style supported by 21st century systems. Newly refinished oak hardwds, classic sandstone firplc, quality granite & tile kitchen, modern vinyl dbl-paned windows, new baths with designer tile work and sleek low-profile fixtures, updated electric, plumbing, ductless split A/C, & newer roof. XXL backyard is completely fenced, ideal for gardening and entertaining with room left over for future DADU. Secure attached garage, wide streets for guest parking. Dream location for your entire compass: Silly-close to I-5, major arterials, Light Rail, fun in Upper Rainier Beach, Georgetown, Renton, soul-soothing hiking trails, parks & Lk WA.

5637 S Ryan Street
Seattle, WA 98178
$1,175,000

Beds: 3
Baths: 2
1,960 sqft
Days on Market: 6

Fully re-invented modern bungalow on prime corner lot with vista views of Lk WA, Mt. Baker & Seattle/Bellevue skylines. Studs-out top quality renovations completed in 2016 with an eye for art as well as architecture. Streamlined design for easy living, a wonderful mix of open & intimate spaces, strategically placed skylights/windows create seamless views of enchanting gardens, greenery and sky from nearly every room, hardwoods and porcelain tile floors thru-out, hi-end kitchen, tile baths, steam shower, gas heat, A/C & more. Spectacular outdoor spaces, 13, 800sqft of privacy, garden paths, patios, rhodies, maples, etc. Future DADU? Prized Upper Rainier Beach close to I-5 & light rail. Let the pride of ownership begin.

Buyers • May 26, 2022

When is the Best Time to Buy a House?

by Don Koonce

There’s a factor of the home buying process that can often be the catalyst for everything that follows. That factor is timing. Much of the dialogue—rightfully so—around buying a home is focused on the “what.” However, it’s often the case that the “when” is just as important.

So, when is the best time to buy a house? The answer is simple: the best time to buy is the right time for you. Fortunately, knowing when the time is right isn’t some sixth sense, it’s much more concrete. It’s a matter of understanding local market conditions, your financial situation, the status of mortgage rates, and how those factors fit in with your lifestyle changes and your motive for moving.

When is the Best Time to Buy a House?

With so much subjectivity in the decision-making process, it can be helpful to look at cold hard facts to determine whether it’s the right time to buy. Although every real estate transaction is different, your local market conditions will give you a good sense of how to approach the housing market. There are two basic categories: a buyer’s market and a seller’s market. In short, the characteristics of a buyer’s market—high inventory, fewer buyers, lower competition—favors buyers, and the characteristics of a seller’s market—low inventory, many buyers, high competition—favors sellers. You may be in a position where you’re able to wait for favorable buying conditions or you may be thrust into a highly competitive market due to external factors pushing the agenda of your move, such as a career change or starting a family. Regardless of the market conditions you face as a buyer, it’s critical to work with a buyer’s agent to efficiently navigate your local housing market and, when the time comes, prepare a winning offer.

Which homes can you afford?

Your financial situation also looms large in deciding whether it’s the right time to buy a house. Before you start looking for homes, assess your buying power. Having greater buying power will show the seller that you’re fully capable of purchasing the home and may vault your offer over others.

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. By using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

The Home Buying Process

Moving often goes hand in hand with lifestyle changes. As you’re preparing to buy a house, you may be juggling an employment change, the birth of a child, or any combination of other life-altering events. Buying a home takes time, and although an agent will streamline the buying process, it will inevitably impact your day-to-day schedule. Here’s a quick glance at the steps in the home buying process.

Find the right agent
Get pre-approved for a mortgage
Search for homes
Attend open houses and showings
Make an offer and negotiate
Put down earnest money
Appraisal/Inspection
Closing process
Move into your new home

Living • May 24, 2022

Home Safety and Security

by Don Koonce

It’s true that your home is an investment and an asset, but most importantly, it’s your livelihood, so taking measures to adequately protect it is well worth your time. An unfortunate reality of being a homeowner is that your home can be a target for mischievous and/or criminal acts.

Fortunately, there are tools and systems you can use to mitigate damage from these kinds of attacks and keep your home safe, in both everyday home life and during the selling process. Sometimes the best part of security systems is the peace of mind that comes with knowing your home is protected. Many of our personal items can be replaced thanks to homeowners insurance, but you cannot put a price on feeling safe at home.

Home Safety and Security

Technology

As time goes on, home technology continues to improve and become more closely integrated with the way we think about a home’s basic functions. There are countless products that can help to automate the systems in your home while better protecting it. When considering these tools, educate yourself about the risks the devices may pose if the proper safeguards aren’t in place. For example, some smart speakers and voice-activated assistants may make everyday home life easier but can leave the door open for potential breaches of personal information if the proper security measures aren’t taken.

Smart Home Devices

The concept of a “smart” home has shifted over the years, but what does this term really mean? And what makes a device “smart”? In essence, a smart device is one that uses technology to make home life easier, more efficient, and more convenient, saving you time in the process. Often using automation and/or remote control, these products allow you to customize the systems in your home to best fit your lifestyle and the needs of your household.

Home Security Apps

Home security apps help to manage your home’s security systems all in one, centralized location. This makes it easy to closely monitor your home even when you’re far away. These apps are typically capable of connecting to door and window sensors, cameras, thermostats, and control lights while allowing you to set alarms and various other home protectants. These apps can offer peace of mind that your home is safe, even when you’re not there.

Alarm Systems

If you are considering an alarm, you have an array of options that vary from self-install motion detection kits to full-service home security systems. If you choose to set up your alarm system yourself, you’ll want to install motion detectors on your doors and windows, especially if they can be easily accessed on the ground floor. These kits will often offer a 24-hour support line whose services may come at an extra fee.

Full-service security systems can include everything from an alarm system and panic buttons to and integration with your smoke detectors and/or fire prevention system. These services can be expensive up front, but usually have a reasonable monthly rate. In some cases, having a home security system installed can reduce your insurance rates.

Upgrade Your Locks

After you’ve moved into your home, it’s a good idea to change the locks. This will give you peace of mind that, once the new locks are installed, no one outside of your household will be able to access your home. Also consider getting a high-quality front-door deadbolt. A poorly installed or weak one can make it easier for an intruder to kick in your door. Front door locks come in many forms, from the traditional models with keys to digital options that require passcodes or fingerprints. It’s also a good idea to check all the locks on your windows. Some older models are easy to jimmy open with a little wiggling. For ground floor windows, you may want to consider double locks.

Security Cameras

Nowadays, security cameras are widely available for home installation. When shopping around, compare different products’ capabilities to find the one that best suits your own security needs. Installing security cameras in high-visibility locations with clear sight lines can help to deter intruders. At the very least, they ensure that you’ll have evidence of an intrusion, should one occur. With so many home security products available, you won’t have trouble finding a system that’s easy to set up. Professional systems, however, generally have more robust monitoring services and require professional expertise to install.

Exterior and Interior Home Lighting

Having exterior lights and/or flood lights on timers or motion sensors is a good way to deter nighttime intruders. Add sensor lights to key entry points on your home, including the front door, back door, and/or basement entries. If you have an unused side yard, consider lighting there too. Keeping your home well-lit makes unwanted visitors weary of being seen.

If you will be gone from your home for an extended period of time, consider using timed lighting options in your home to give the appearance that someone is home. You can select timers for bedrooms or living areas and program a radio or TV to provide some white noise while you’re away.

The Importance of Community for Home Safety

Programs like Neighborhood Watch and NextDoor are very successful in some communities, by creating an environment where everyone is looking out for each other. Building close-knit relationships with your neighbors can go a long way in making you feel safe at home. Whether this is through a formalized program, or a shared agreement with your community, developing relationships with your neighbors is a great way to keep your home safe.

Sellers • May 19, 2022

What Happens When a Buyer Backs Out of a Real Estate Transaction?

by Don Koonce

Yes, the dream scenario for selling a home is that the entire process goes off without a hitch. But the reality is that sometimes there will be bumps in the road, and the best thing you can do is work closely with your agent to be prepared for them. One such obstacle is when a buyer decides to terminate their contract to purchase your home after all the terms have been agreed to. So, what’s a seller to do? Here’s a quick overview of how to prepare for this situation and the important role contingencies play when selling your home.

What Happens When a Buyer Backs Out of a Real Estate Transaction?

To be clear, a buyer can back out of a real estate transaction. The outcomes of doing so vary greatly. In certain cases, the buyer walks from the table with all their money intact. In others, they will have some fiduciary responsibility to the seller. If a buyer is hesitant about purchasing a home, the best time to back out of the deal is before their offer is accepted. As things progress, the ramifications of a buyer backing out can get messier. Once the purchase agreement is signed by both parties, it becomes legally binding, and the sale of the property can proceed.

After your agent and the buyer’s agent agree on purchasing terms, the buyer will place their earnest money—a deposit of funds to indicate that the buyer is serious about their offer and intends to pay the seller—in escrow to make sure they distribute properly when the deal goes through. Whether the buyer is on the hook for the funds in escrow depends on the terms of the contract, how far along you are in the selling process, and the corresponding state laws where the home is being sold. If a buyer backs out of the deal for a reason that was not stipulated in the real estate contract, then the funds will typically go to the seller. Still, this scenario can leave sellers scratching their heads. It’s not as if they’ve done anything wrong, and they thought they had found the right buyer, only to have the carpet ripped out from under them at the last minute. So, how can you protect yourself when selling your home?

The Importance of Contingencies

This situation highlights the importance of contingencies. Contingencies exist to protect buyers and sellers from the unknowns of a real estate transaction. Buyers will typically include contingencies in their offer to specify the criteria that will allow them to walk away from the deal unscathed and the timeframes for doing so. As a seller, it’s critical that you work closely with your agent to understand the terms of the buyer’s offer. Read about Common Real Estate Contingencies to understand the ins and out of the different contingencies buyers will generally tie to their offer.

What to Do After a Home Buyer Backs Out

Backup Offers

Backup offers are made with the knowledge that an existing offer is already on the table. They stipulate that if the first offer falls through, the second buyer’s offer is accepted. Talk to your agent about the possibility of accepting backup offers when you sell your home. Whether a buyer backs out due to buyer’s remorse, something they discover in the home inspection process, or for any other reason, backup offers can act as a remedy for their indecision by keeping the line moving to the next buyer.

If a backup offer isn’t on the table, the seller is left with the decision of whether to sell again. It’s true that a relisted home may elicit questions from buyers. They will want to know why the home is being relisted and what went wrong with the previous offer. It’s important to coordinate your relisting strategy with your agent and discuss what disclosures are appropriate. It may be discouraging to deal with a buyer backing out but remember that selling a home is all about finding the right fit. A buyer walking away doesn’t mean your home isn’t worthy of a winning offer, it just means that you haven’t found the right buyer yet.

Design • May 17, 2022

Asian-Inspired Home Décor and Design

by Don Koonce

In the pursuit of designing a home just the way you envision, there are countless sources of inspiration to pull from. Asian-style interiors are known for their ability to bring a sense of calm into a space. This helps to create something everything homeowner can see the value in—a relaxing home environment. In recognition of Asian Pacific American Heritage Month, we’ve compiled a short list of popular Asian-inspired home décor and design themes to consider incorporating into your home.

Asian-Inspired Home Décor and Design

Connection to Nature

One of the principal tenets of Asian design is a connection to nature. Using natural materials, a nature-influenced color palette, and houseplants in your home are all ways you can begin to create an interior that borrows from themes of Asian design. The bathroom is often a focal point for incorporating Asian-inspired natural materials. Using stone, wood, pebbles, and other materials will help your bathroom feel like it’s out in nature. Light stone tile in the shower will help to create the backdrop for a cascading water effect over smaller rocks and pebbles, while decorative wood elements can help tie the space together. These are just a few Asian-inspired design themes that can help take your bathroom to the next level.

Using natural colors will help to create a timeless aesthetic in your home. Whether your use of this color palette is exercised in large surfaces areas, such as wall paint, or in smaller accent pieces, such as complimentary décor items, natural colors will help deliver the serenity you’re looking to curate in your home. When decorating with indoor plants, organize them throughout your home based on their needs. For example, place plants that require more sunlight exposure in open areas and plants that have greater watering needs in easy-to-reach locations.

Feng shui

Feng shui, a practice that has existed in Chinese culture for thousands of years, has been largely influential to Western home design. Feng shui was founded on the idea of balancing oneself with their environment. In the modern world, the practice of feng shui has evolved into a relationship between humans and the objects with which we share our living spaces. Feng shui can often have the greatest impact in the bedroom. If there’s something off about the orientation of your bed, it can be tough to get consistent, healthy sleep. A slight change in your bedroom’s feng shui may be just the adjustment you need to revitalize the space.

Minimalism

The connection between Japanese Zen philosophy and Western minimalism goes back centuries. Tenets of Zen culture such as simplicity, open space, and removing unnecessary features directly influenced America’s own minimalist design pursuits. Nowadays, minimalism in home design is most often exemplified in the way we arrange our spaces, in eco-friendly decoration, and through the use of clean geometric lines. This focus on the essential not only has aesthetic value, but can also have greater environmental benefits, such as reducing waste.

For more information on design inspiration from across the globe, learn more about the influence of Spanish architecture:

What is Spanish Style Architecture?

Design • May 12, 2022

7 Ideas for Creating a Beautiful Yard

by Don Koonce

Spring is in the air and homeowners everywhere are preparing for a season of tending to their yards. Whether you’re looking to tackle a complete makeover, boost your home’s curb appeal, or simply make a few DIY upgrades, these ideas will help you make the most of your home’s landscaping.

7 Ideas for Creating a Beautiful Yard

1. Remodel Your Patio

The best patios are durable and long-lasting. If your patio requires repair, a remodel can play a significant role in creating the beautiful backyard you envision. Think about how your patio will be used before choosing materials. For example, if you plan on using it as a dining area, an uneven material like cobblestone may not be the best choice. Design your new patio pattern, including gaps between pavers for loose materials, before getting started.

2. Upgrade Your Deck

Decks can often be the focal point of a backyard. A few upgrades can easily transform the look and feel of the space. If you are building a new deck, take your local climate into account when deciding on materials. To upgrade your existing deck, create a seating area using chairs or a bench and decorate the area with plants to make it feel more welcoming. Pergolas and patio umbrellas will help to keep the area shady and cool while adding some color to the space. If you are rebuilding, consider building in seating during construction.

3. Start a Vegetable Garden

Gardens don’t just pop up in your backyard overnight, they take time to grow. Start by building your garden beds, aligning them north to south for maximum sunlight. Choose an area of your backyard where your veggies will have direct access to sunlight, without being blocked by shade from trees and shrubs. Research your local climate to determine which vegetables you should grow and what kind of yield you can expect. To protect your garden from weeds, insert a barrier in the bottom of the beds.

4. Edge Your Walkways

Nothing catches the eye in the garden like clean, crisp edging. Edging comes in a variety of materials, from plastic to more durable options like aluminum or steel. Before you install the edging, use a lawn edger or spade to make the cuts and shape the pattern. Tap the edging it into the ground with a mallet to solidify it into the ground and to protect it from animals.

5. Add Landscape Lighting

A beautiful backyard deserves to be enjoyed around the clock. Landscaping lighting can extend those days spent in the yard well into the nighttime. There is an array of landscaping lighting options to choose from, including spotlights, floodlights, in-ground lighting, outdoor post lights, and more. Choose the one that best highlights the features of your yard.

6. Install a Fire Pit

Fire pits help to tie a backyard together. The style of your fire pit should match other features in your backyard to bring cohesiveness to the space. Traditional fire pits are usually accompanied by circular seating, while more modern options like fire troughs provide a centerpiece to take in surrounding views. Wood fire pits provide a classic, crackling environment, gas pits burn cleaner than wood and come with an on-off switch, while gel-powered fire pits create a smaller frame and are typically used for accent lighting.

7. Add Garden Containers

Garden containers of all shapes and sizes can be very useful in the yard, especially for homeowners with limited garden space. By adding pots, wooden boxes, or bowls to your yard, you’ll provide a flexible home for a variety of plant life. Just make sure each container has proper drainage holes. If not, you’ll need to make the holes yourself, or you can opt for self-watering pots.