Homeowner Question: What does it cost to install a heat pump mini split?

by Brian Huie on 3/9/24

Mini-split installation typically costs between $7,000 and $25,000.

On average, professional installation falls around $12,000. The exact cost depends on the size and layout of your home. When an HVAC installer provides a quote for your home, you can expect them to make calculations based on the size and layout of your home in order to design a system that will optimally heat/cool all of your spaces. A smaller and/or more open layout may need a less powerful compressor or less interior mini split units.

Additionally the type of interior unit you prefer will affect the cost- there are in recessed ceiling units available, in which the product and installation will cost more, as well as more commonly selected wall mounted units available. Available accessories, such as filtration systems, phone connectivity, etc will increase the cost as well. 

If you are looking for a more budget-friendly solution, a DIY system may be worth considering. These systems typically cost around $800-$3000 depending on the number of interior units, efficient, and available features. Certain modifications to the installation process make this system DIY friendly and easy to complete in a weekend. Note that, this does not include electrical modifications that may be necessary. But, for most homes, an electrician can do the electrical work for under $1000 in a day, and you’ll be ready to install.

“For more information on heat pump mini splits click here!”

What are common repairs that the buyer's lender will require? Home Seller Question of the Week

by Brian Huie on 3/4/24

The three most common items I’ve seen while representing either side of transactions are missing handrails, missing water heater straps, and flaking paint.

We often look at the government-backed loan requirements (FHA, VA, USDA) in answering this question in order to ensure that we meet the most stringent appraisal standard. The list below shows the requirements of government back loans, which the appraiser uses during the appraisal.

• Missing handrails

• Missing water heater straps

• Damaged interior doors

• Cracked glass

• Dripping faucet

• Worn or missing floor/ finish coverings

• Minor flaking paint if the year built is 1978+

• Leaking/worn/mossy roof

• Minor damaged sheetrock/ceilings

• Missing freestanding appliances

• Minor crawl space debris

• Any items that affect the safety, soundness, sanitation & habitability

• Structural issues & issues with dampness

• Termites

Depending on the verbiage of the purchase and sale agreement, the seller or the buyer may need to pay for and hire trades to make the needed repairs in order to close. In our market, it is common for the buyer to complete the repairs with the written permission of the seller. However, if the buyer is unable or unwilling to complete the repairs, a common contingency allows the buyer back out of the transaction and get their earnest money back.

I have my seller’s homes inspected early in the listing preparation process so that we can strategize and determine what items should be addressed as priorities to prevent appraisal issues from arising once we are under contract with a buyer. My goal as your agent is to get you the safest offer possible, in part because this ensures that your home will sell for more, and close quickly.

“For more information on ways we help our home sellers prepare for the market click here!”

Can I make an early offer? Homebuyer Question of the Week

by Brian Huie on 2/28/24

Yes, but it should be “compelling” otherwise it could hurt our chances if we need to resubmit.

An early offer on a listing with an offer review date is commonly referred to as a “bully offer” because the buyer trying to “bully” the seller into not waiting for any other offers to come in. The offer must be compelling - So compelling that the buyer will try to coerce the seller into thinking they won’t get a better offer by waiting for the offer review date. The true “bully” part is that the seller thinks this compelling offer won’t resubmit on the offer review date.

A compelling bully offer should be a textbook strong offer with no chance of the buyer backing out - This means over asking, fast close, and no contingencies. A competent and tactful agent should also present it. Timing is another important component - the sooner the offer is made, the higher the chances.

This tactic is a great way to present a strong offer and avoid competing buyers but only if presented well and tactfully. There may be risks to the buyer if the buyer wins such as overpaying. If the offer isn’t compelling enough - The seller or listing agent may have have negative feelings about the buyer and buyer’s agent, the seller may not take the buyer seriously anymore, and if the offer was far from being strong, the listing agent may doubt the competency of the buyer’s agent willing to write a weak offer as a bully offer.

As with any tactic and strategy, I’ll tailor this tactic to each individual buyer as well as each unique listing. For more information on what a strong offer is, click here!”

Home seller question: If I have my home pre-inspected before selling, can we keep a buyer from inspecting? Do I have to disclose my inspection to buyers?

by Brian Huie on 2/20/2024

ANSWER: You should not prevent a buyer from inspecting your home. You must disclose AND provide any whole house inspections you or your agent have conducted to a buyer.

Home inspections are an excellent tool for both buyers and sellers, but must be used strategically. If you have ever had your Washington home inspected during your ownership, you must disclose it in the state-required Seller Disclosure Form where it asks about home inspections. You must also explain why (i.e. for the sale of the home) and attach the home inspection to the disclosure as it’s not publicly recorded. If your agent had the home inspected you for the sale, you still must answer yes as your agent is a representative of you, and everything they know, you also know; Anything you or your agent knows, you must disclose to the buyer. This seller disclosure form doesn’t have to be given out to every prospective buyer but must be given to the buyer of the home.

For liability reasons, a seller should not restrict a home buyer from inspecting the home. A home seller may select an offer in which the buyer is willing to waive the home inspection contingency on their own free will. The seller should not coerce anyone to waive such contingency and again must have been offered by the buyer.

Refer to an experienced real estate agent and develop a strategy with them for the preparation and marketing of your home. After a physical walkthrough of your home and learning of your goals, I would determine the best option for you and your unique situation. I may recommend a full/partial inspection, a casual walk-and-talk with an inspector, or a combination of these tactics - All of which BH Group provides to all of our sellers. For more information about home inspections, click here.

Homeowner Question: I'm installing a new fence, how do I know where the property line is?

by Brian Huie on 2/13/2024

Answer: Ask neighbors and have the property surveyed.

Proper fences can keep the peace, avoid animosity, and preserve quality of life. Installing a fence in the wrong place can make lifelong enemies and cost you tens of thousands in legal fees. Sure you can replace a fence by installing a new fence in the original fence’s location, however there’s a risk that if a new neighbor moves in and doesn’t like it for any reason, finds out it’s encroaching on their property, they can remove it or worse, pay someone to remove it and stick you with the bill…to remove your fence you just built! This is true of our Seattle laws, surrounding Washington communities, and most jurisdictions in our country.

Before building or replacing that fence, ask your neighbors if they have ever hired a surveyor to map out their parcel - If so, they have received a physical or digital copy of their boundaries which will show neighboring landmarks and existing fences. Also, ask if the neighbor would like to share the costs and thus have a say in the style and material of the fence. If none of your neighbors has hired a surveyor to mark your corners and map out your boundaries, hire your own. DO NOT go off of anecdotal information or hearsay and do not use “surveying” apps - Hire a licensed/bonded/insured surveyor.

“Good fences make good neighbours” - Robert Frost

Reach out to me for my recommended surveyors! They will spend a day or two marking your property with “survey stakes” and drive rebar into the ground at the corners of your property. The surveyor may then take a week or two to produce a pdf and/or a physical copy to give to you.

Decide if this will be a shared fence or if it will be completely on your property for easier maintenance. I have a home with over a thousand linear feet of fencing ON the property line but asked neighbor neighbor if I may pay for the painting and maintenance on her side. In my primary residence in Seattle, I have a 100’ linear stretch that is 3’ on my property so that I can maintain both sides easily. But if the neighbor starts using any of that 300sq ft of property and does so uninterrupted for 10 years, I run the risk of losing it through “Adverse Possession”.

Let me know if you’d like a recommended fencing contractor or surveyor! Check out my pinterest board for fencing: https://pin.it/4Bg4zRQ1X

What is the definition of a luxury home?

by Brian Huie on 2/6/2024

Short answer: Homes priced in the top 10% of any market. Also, ultra-lux homes priced at $10M or more.

Luxury homes in the Pacific Northwest stand as the pinnacle of refined living in the ever-evolving world of real estate. These homes, nestled in Seattle and its surrounding areas, define a lifestyle steeped in sophistication and elegance, boasting impeccable design, deluxe amenities, and unmatched comfort. From awe-inspiring waterfront abodes in Mercer Island to secluded forest havens in Bainbridge Island, each residence showcases bespoke features and cutting-edge technology meticulously chosen to elevate daily living to extraordinary heights. As part of the luxury home market, comprising the top 10% of any locale, these properties shine as symbols of distinction and accomplishment, offering residents an exclusive living experience unparalleled in its splendor.

What sets luxury homes in the Pacific Northwest apart is not solely their aesthetic appeal, but also their coveted locations and prestigious communities. Whether nestled in the vibrant heart of Seattle or tucked away amidst the tranquil landscapes of Kirkland or Redmond, these homes offer a rare blend of privacy, security, and urban convenience. Residents relish access to top-tier dining, cultural hotspots, and outdoor adventures, enhancing the allure of these sought-after residences. Ultimately, luxury real estate in the Pacific Northwest represents more than just a place to reside—it embodies a lifestyle of indulgence and prestige. These homes serve as tangible reflections of success and aspiration, meticulously crafted to cater to the most discerning tastes, providing residents with an unparalleled sanctuary to call their own.

Check out the current luxury homes and condos of Seattle below and let me know if you’d like a video or private tour of any of these or any other homes in the wonderful PNW!

Should I buy a home before or after selling?

by Brian Huie on 1/30/2024

Talk to your Seattle realtor, lender, and financial planner. If you have the resources to choose between selling before and after you buy, I'd focus on what is most comfortable for you.

Many of my clients find it easiest to buy in winter through mid-spring and list their homes in the mid-spring through summer. This is comfortable because not only is there less buyer competition earlier in the year, but by the time they list in spring through summer, buyers will have flooded the Seattle real estate market, making it easier to sell. It also gives me a vacant home to work my listing magic - I can more easily have it updated, cleaned, and staged - Plus vacant homes have more private showings, more offers, and higher sales prices. If you can't afford your next home before selling, then you can either get a bridge loan or you can simply go on vacation during the "marketing phase".

There are countless ways to prepare a listing around your schedule and comfort. Click here for more information about selling and a timeline of events. Also, contact us to chat about what all your options are!

How Long Does It Take To Buy a Home?

by Brian Huie on 1/22/2024

2-3 Months from Preapproval to Close

Typically 2-3 Months from preapproval to close but can be 2 weeks or 2 years. It depends on what part of the Pacific Northwest we are searching, how frequently we expect to see what we are looking for, and how seriously we are searching. In Seattle, a “typical” BH Group home buyer should expect to be searching for about 2 months in the summer months when we have the most number of new listings. There’s more competition but with our tools, strategies, and obsession with the market, we typically find homes for our clients in 1/3 of the time as most buyers.

Before the search, we will tackle the “onboarding” phase consisting of a discovery meeting, lender preapprovals (or gathering proof of cash funds), and filling out all the agency forms and disclosures. This is followed by a discovery tour before kicking off the actual home search. In a pinch, we’ve onboarded new clients in as little as a day but it will most likely take about 1-2 weeks. The search then takes about 2 months for most of our clients but no matter if we find our home on the first day or in a year, you have our undivided attention until we find you your home. If we make an offer on a home and is accepted, we then enter into a “transaction” phase where we may negotiate multiple times, perform inspections, and sign documents. This period takes 10-28 days in the Seattle real estate market but is slower in more rural counties.

We have a timeline with more details - Click here for more information and for the timeline!

When is the best time to sell a home?

by Brian Huie on 1/16/2024

Typically, the prime seasons for selling a home revolve around spring and summer. Determining the best time hinges on three crucial factors: seasonality, market conditions, and individual circumstances.

In Seattle and the broader Pacific Northwest, the weather is most favorable from spring through fall, making these months ideal for attracting active potential buyers. It's vital to consider how your property presents in extreme weather – if your home lacks A/C or sufficient heating, choose a season that avoids discomfort for potential buyers. BH Group can assist in finding solutions to potential issues. If your property is family-oriented, keep in mind that families, often major players in bidding wars, prefer moving in the summer to minimize disruptions to the school year.

However, local real estate market trends, which can fluctuate weekly and vary by submarket (e.g., rural houses outside Duvall, suburban townhomes in Bothell, Seattle Uptown condos), must be taken into account. In a seller's market, selling at any time may be advantageous due to high demand. Conversely, in a buyer's market, waiting for a more favorable environment could be beneficial. Recent trends indicate that waiting a few weeks after sudden interest rate hikes has been favorable for sellers. BH Group ensures that, in the months leading up to listing, clients stay informed about weekly news and updates on comparable market analysis for optimal pricing and marketing strategies.

Consider personal goals and constraints – is there flexibility in choosing a selling month, or is there a specific timeline? If using a cross-collateral or a bridge loan, has that been decided? For occupied homes, is there a possibility of temporarily moving out during the marketing phase, or planning a vacation?

Consulting with a real estate professional, such as BH Group, can offer tailored insights based on specific circumstances. The sooner you engage with BH Group, even if it's a year or more in advance, the better for comprehensive planning. Click here for more information on selling a home in Seattle and the Pacific Northwest!

Why is a home's market value different than the assessed value?

A home's market value is the price the market (current buyers) is willing to pay. The assessed value is the taxable value the county has determined the home to be.

CLICK HERE for more information about market values, assessed values, and even appraised values and how they affect a home search, home buying, and home ownership here in Seattle and the PNW.

How much does it cost to sell a home?

~7-10% of the sale price depending on price point, improvements/repairs we find to have a return-of-investment, agency commissions, real estate tax, title insurance, and 1/2 of escrow. CLICK HERE to learn more about the costs involved in selling a home in our Seattle or PNW Real Estate market.