Author Archives: Arlyn Lawrence

The Long-Term Benefits of Homeownership: Why Buying a Home Is a Smart Investment

The decision to buy a home is one of the most significant financial investments you will make in your lifetime. While renting might seem like a more convenient and affordable option, homeownership offers numerous long-term benefits that can greatly outweigh the initial costs.

Even in a market like this one, where prices are high and so are the interest rates, it can still be in your best interests to go with ownership versus renting, as we will see. In this blog post, I want to explore the advantages of buying a home and explain why it is a smart investment for your future.

  1. Building Equity

One of the most significant benefits of homeownership is the opportunity to build equity. Unlike renting, where your monthly payments contribute to your landlord’s mortgage, owning a home allows you to build equity with each mortgage payment you make. Over time, this equity can be used to finance other investments, such as home improvements, education, or even the purchase of a second property.

  1. Appreciation

Historically, real estate has been a stable and appreciating asset. While the rate of appreciation varies depending on factors like location and market conditions, homeowners can generally expect their property to increase in value over time. This appreciation can provide a significant return on investment when it comes time to sell, allowing you to capitalize on the growth in your home’s value.

  1. Tax Benefits

Owning a home comes with several tax benefits that can help offset the costs of homeownership. Mortgage interest and property taxes are typically tax-deductible, which can result in significant savings come tax season. Additionally, homeowners may be eligible for other tax breaks, such as deductions for home office expenses or energy-efficient upgrades.

  1. Stability and Predictability

Renting often comes with uncertainty, as landlords can choose to raise rents or decide not to renew a lease. Homeownership, on the other hand, provides a sense of stability and predictability. Fixed-rate mortgages offer a consistent monthly payment, allowing you to budget more effectively and avoid the stress of potential rent increases. Additionally, owning a home gives you the freedom to make long-term decisions about your living space, without worrying about the constraints of a lease agreement.

  1. Personalization and Pride of Ownership

Homeownership allows you to truly make a space your own. Unlike renting, where you may be limited in your ability to make changes to your living space, owning a home gives you the freedom to personalize and customize your environment to suit your tastes and needs. This sense of pride and ownership can lead to a greater connection to your community and a deeper sense of satisfaction with your living situation.

  1. Forced Savings

Paying a mortgage each month can serve as a form of forced savings, helping you to build long-term wealth. As you pay down your mortgage, you are effectively investing in an asset that will continue to appreciate in value. This forced savings can provide a financial cushion and help you achieve long-term financial goals, such as retirement or funding your children’s education.

Is Buying the Right Choice, Right Now?

While the initial costs of homeownership may seem daunting, the long-term benefits usually far outweigh the short-term expenses. Building equity, appreciating value, and enjoying the stability and personalization that come with owning a home can provide a solid foundation for your financial future. Making a smart investment in homeownership, is one way to secure your financial future—plus, you’ll enjoy the many benefits that come with owning your own home!

Ready to Make Your Move If Rates Go Down?

If, as many experts are predicting, interests come down this fall, we can expect the real estate market to warm up. According to Forbes magazine, “… the housing market will only see renewed momentum once mortgage rates drop enough to ease affordability challenges and incentivize homeowners locked in at low rates to move so inventory grows substantially to meet demand.”[1]

If you’ve been waiting in the wings for the most advantageous time to sell your home and/or make a move to another one, this rate drop, when it happens, might be your opportunity. You’ll want to be prepared to take quick action. Here are some things you can be doing now to prepare your home for sale so when the timing is right, you are ready for action!

I can confidently say that first impressions matter, and a well-prepared house can fetch you the best possible price. So, let’s dive right in!

  1. Declutter and Depersonalize

The first step in preparing your home for sale is to declutter and depersonalize it. This means removing any excess furniture, knick-knacks, and personal items. The goal is to create a clean, uncluttered space that allows potential buyers to envision themselves living in the house. Remember, you want them to see their belongings in the space, not yours.

  1. Repair and Replace

Before putting your home on the market, ensure that all necessary repairs are completed. This could include fixing leaky faucets, patching holes in the walls, and addressing any issues with appliances or electrical systems. Additionally, consider replacing outdated fixtures and hardware, such as cabinet handles or light switches, to give your home a more modern and polished look.

  1. Clean, Clean, Clean

A clean house is essential when selling. Deep clean your home, paying special attention to the kitchen, bathrooms, and high-traffic areas. Don’t forget to clean windows, curtains, and baseboards, as well as any appliances that will be included in the sale. A spotless home will not only make a great impression but also make it easier for potential buyers to imagine themselves living there.

  1. Enhance Curb Appeal

First impressions are crucial, so make sure the exterior of your home is just as inviting as the interior. Enhance curb appeal by trimming overgrown bushes, mowing the lawn, and adding some potted plants or flowers. Power-washing the exterior, repairing any damaged siding, and applying a fresh coat of paint to the front door can also go a long way in making your home more attractive to buyers.

  1. Neutralize Colors

While you may love your bold, colorful walls, potential buyers may not share your taste. To appeal to a broader range of buyers, consider repainting your walls in neutral colors, such as beige, gray, or white. This will create a blank canvas that allows buyers to envision their own style and design preferences in the space.

  1. Light It Up

Good lighting is essential when selling a home. Ensure that all light fixtures are in working order and replace any outdated or damaged fixtures. Additionally, consider adding additional lighting sources, such as floor lamps or table lamps, to brighten up dark corners and create a warm, inviting atmosphere.

  1. Stage Your Home

Home staging can make a significant difference in how potential buyers perceive your property. Consider hiring a professional home stager or follow some basic staging tips, such as arranging furniture to create a natural flow, adding decorative accents, and setting the dining table to create a welcoming atmosphere. Remember, the goal is to make your home feel warm, inviting, and ready for its new owners.

  1. Organize and Optimize Storage Spaces

Buyers are always on the lookout for ample storage space. Organize your closets, cabinets, and other storage areas to showcase their full potential. Remove any unnecessary items and neatly arrange the remaining contents to make the space appear larger and more functional. (Need help with this one? If you’re local to the Gig Harbor, Washington area where I am, I highly recommend Northwest Home Coach.)

  • Select Your Real Estate Broker and Be Ready to Go

Obviously, there are a lot of eager agents to choose from! Make sure you select one with home you can have a trusting relationship and good rapport, and in whose negotiating and problem-solving skills you can have the utmost confidence. Preparing your home for sale requires time, effort, persistence, wisdom, and attention to detail. By following these tips and selecting the right agent, you’ll be well on your way to showcasing your property in the best possible light, attracting the right buyer, and locating and purchasing your next new home.

Doug Lawrence is a Managing Broker with Better Properties in Gig Harbor, Washington. He can be reached at 253.341.5287 or by email at douglaslawrence15@gmail.com.

[1] https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/. August 14, 2024

Ready to Find Your Dream Home?

Click here to search for your perfect home or investment property

I hope you’ll reach out personally–I’d love to meet you and help you find what you’re looking for!

I will be happy to set you up with a no-obligation search that will send by email properties that meet your unique search criteria. And, of course, I’m always here to show properties, answer questions, and provide a market analysis of your current home, if you like.

Here to serve you,

Doug

Doug Lawrence

Managing Broker

Keller Williams West Sound

253.341.5287

dlawrence@kw.com

What’s Your Home Worth These Days?

Do you know what your home is worth? I mean, do you really know its accurate value in today’s market? Based on the last few years of activity, and recent interest rate hikes, homeowners have good reason for uncertainty, but also for optimism.

House values can be determined in several ways. There is the tax assessed value, which is the formula your local government entity uses to determine the taxation value of your house and land. Then there is the market value determined via a professional consultation with a licensed real estate professional (that’s me), which factors in square footage, amenities, location, and, most importantly, what similar houses have sold for within a reasonable distance from your home.

With the availability of real estate search engines like Zillow and Red Fin, and our increasing reliance on technology, there is a general assumption that the app on your phone is accurate. Not necessarily. I used my own house as a test case and was surprised, although not really, to find a more than $100,000 spread between four different real estate apps.

Most apps rely on algorhythms and public records to determine house values. Depending on their public record source, the information will vary based on the accuracy of the record. I’m sure this contributed to the erroneous values assessed to my own house, considering that, between the various reports, there was up to a 1000-square foot difference in the stated size of my house!

It’s important to remember that these discrepancies exist. If I were a seller, I would obviously want to sell my house for the highest price possible. And if I were a buyer, I would want to purchase for the lowest price. In the case of my home’s online assessed value, that could be a $100,000 discrepancy! That’s why, when it comes to determining your house’s value, it’s imperative that you enlist the help of a real estate professional to be your expert advisor.

What I do for both my sellers and my buyers is to systematically assess a home’s true value. This takes into consideration:

  • location
  • size of house and property
  • number of bedrooms and bathrooms
  • overall condition of the house and property
  • age of the home
  • degree of finish
  • energy source and heating/air conditioning
  • fireplace and if so, what kind
  • kind(s) of flooring
  • number of covered parking spaces

All of these factors and more go into a systematic process of determining the value of the home you want to sell or purchase.

So back to my original question: Do you know what your home is worth? Perhaps you are pausing now before answering, because you realize the answer isn’t necessarily found in an app or an assumption. That’s where your local real estate professional can be an invaluable asset. Call for an APP-ointment today; it’s the most accurate real estate “app” at your disposal!

Doug Lawrence is a licensed real estate broker with Keller Williams West Sound in Gig Harbor, Washington. His mantra, both personally and professionally, is “love where you live!” He is an avid fan of the beautiful Pacific Northwest and enjoys helping people find their perfect fit. You can reach him at dlawrence@kw.com or text at 253.341.5287

What You Need to Know About Relocating

Moving, whether across town or across the country, can evoke a blend of excitement and dread. New job? New digs? New scenery?  Hooray! Good-bye to friends and family? Loss of familiar routes and routines? The hassle of packing, moving, and setting up in a new location? Perhaps not so exciting.

One thing I’ve learned over the years is that “what you focus on expands.” Sure, you need to address the downsides. But by focusing on the upsides, your positive perspective will make all the difference in the world. Just think: you’ll get to explore a whole new place and all that that new place has to offer! There’ll be new activities, new restaurants, new friends, new parks, and more.

With that in mind, here are some suggestions about the kinds of things you’ll want to research before or during your move process:

1. What amenities are available in the new location and how important are they to your lifestyle?

The area or neighborhood you live in makes your home what it is. Check out Google Maps before your big move. Maybe even make a list of the advantages and disadvantages to each area you research—it can help make the decision easier. If your kids are in school, you’ll likely want a school facility close by. Do you want them to attend a private or public school? Is there one close by? What about grocery shopping? Is it easy to get to? Do you like to have a gym you can walk to? Are there parks? Ask yourself these questions ahead of time. Determine their importance to you and your family.

2. What is there to do in the new location (e.g., recreation and events)

Find out what big events and attractions there are. If your family is into skiing or mountain biking (or any other sport/activity), look to see if there is a place close by where you can participate. What events are there coming? (Finding activities and fun events to look forward to can lessen the impact of a move, such as moving far away from friends and family.)

3. How much does it cost to live in the new location? (Be prepared.)

Cities come with different price tags, as far as cost of living goes. Make sure you know what you’ll be spending before you commit. Gas and grocery price can be different in different regions. Calculate what you can expect to spend in your new city—how does that work for your budget? Shrewd financial planning in advance can make all the difference in avoiding future panic or crises.

4. Plan how you’ll connect once you get there. What are ways you can meet people in your new location? A sense of community and belonging is the first and best way to feel settled and “at home.” Some of this may come from a job or school, but not all of it.  Where can you find likeminded new friends to share life and experiences with? Is there a faith community you can connect with? Civic clubs? Non-profits and community service organizations you can join or volunteer with? Sports teams/fitness clubs you can join? Jumping in to environments like these can make the integration process go much more quickly.

My motto is “love where you live,” and there are so many ways you can help make this happen for yourself and your family when a relocation is involved. I hope these have been helpful; they are only a start.

If you are anticipating a move and have real estate needs as a part of the package, I hope you’ll give me a shout or send an email. Even if you’re moving across country or in another town, I can help with referral and connection to a trusted real estate professional in my network. I’ll do my best to help you and your family “love where you live,” wherever that may be!

Doug Lawrence is a licensed broker with Keller Williams West Sound. He is a certified Veterans and Military Relocation Specialist and a Global Property Specialist. No matte where your move may take you, he can help! You can reach him through this site, by email at dlawrence@kw.com, or by phone/text at 253.341.5287.  

Amazing Views of Hales Passage from Ready-to-Build Fox Island Lot!

Have you been thinking of view property on beautiful Puget Sound in Washington State? Look no further than this: the development has already been done . . . so bring your plans and get going on the water-view house you’ve been dreaming of!

From your vista on desirable Bella Bella Drive on Fox Island, you’ll enjoy unobstructed views of Hales Passage and the Fox Island Bridge. The over 1/4-acre lot is level and has been fully cleared; a three-bedroom septic has been installed and water and electricity are already to the property.

$299,950

Offered by Doug Lawrence and Keller Williams West Sound
MLS#1358855
224 B Bella Bella Dr, Fox Island 98333.

Call for showing; listing agent must be present at initial viewing to highlight all the incredible amenities of this exclusive property. 253.341.5287
dlawrence@kw.com
www.douglawrencerealestate.com

Offers: Seller intends to review offers upon receipt.

Doug Lawrence is a Fox Island resident whose motto is “Love Where You Live!” He especially enjoys the opportunity to offer others a chance at the “island living” enjoyed by residents on Fox Island. You can find out more about Doug and Fox Island living at www.foxisland.net and www.visitgigharbor.com.

Overcoming Deferred Maintenance: Prepping a Fixer for Sale

So, you want to sell your house, or maybe someone else’s house—an aging or deceased relative, for example. And, for whatever reason, the property has experienced “deferred maintenance.” It needs a lot of work!

Bringing a “fixer” home up to a sellable standard can seem overwhelming sometimes, especially when it needs significant improvements. Getting top dollar for a property that needs work can be challenging, especially if your budget for improvement is tight. That being said, with the right perspective, some creativity, and strategic emphasis on the right things, it can be done—for less time and money than you probably think.

Where to Get the Most Bang for Your Buck

Experts often say to put your energy into updating the kitchen and bathroom for maximum impact. However, a major renovation in these areas can set you back tens of thousands of dollars and take weeks to complete, which simply isn’t possible within a tight budget and time frame. So instead, make your focus on the areas of the home that will make a good first impression and enhance the overall look of the house—for a minimal outlay of cash. Here are my top five recommendations:

1. Get rid of the clutter. Buyers need to be able to visualize their own life in the house—impossible if there are piles of stuff everywhere! The clutter has to go. (If this feels overwhelming, hire a high school or college student who wants to make a few extra bucks to help you sort.) Have three categories of bags or boxes available as you move through the rooms: throw away, give away, put away (keep). The “keep” pile will be the minimal amount of stuff you either want to take with you to your next home if you are selling your own home, or perhaps mementoes or heirlooms you want to pass on to family members, etc. in the case of liquidating a home for a relative. “Give away” goes to Goodwill or other similar charity (often these organizations can arrange to pick up your stuff). And “throw away,” well, that just goes straight into the garbage or to the dump! (You may also have a “garage sale” pile as well.)

2. Give rooms a facelift. Repaint the interior walls in a neutral color. Replace carpets (opting for a low-cost but good-quality laminate floor is often a good choice). Paint and new flooring not only improve the look of the house, but also the smell, giving the impression of fresh, clean, and new.

3. Get rid of dated or dodgy furniture. Keep only the nicest furnishings (less is more). If you don’t have any, consider borrowing statement pieces from friends or neighbors temporarily to improve the look of the home for showing. Or pick up a few new inexpensive or free things on Craigslist or local give-away websites. If staging isn’t your forte, ask a friend with an eye for style to help you arrange the rooms attractively. Your real estate professional may be able to provide assistance with this.

4. Give every surface a deep clean. Include exterior surfaces and windows, interior walls, floors, trim, doors, bathrooms, tile, etc. If you don’t have the time or energy for cleaning, hire some help. It will be worth it!

5. Tidy the front and outside of the house. Weed and trim the gardens, prune hedges, and mow the lawn. This makes a tremendous improvement in the curb appeal, for little to no money. The changes that will make the biggest impact may actually cost nothing more than a few weekends of hard work! Tip: adding bark mulch is an affordable update that is especially effective, as it injects color and makes garden beds look neater. Also, clean the roof and gutters. (If the roof needs to be replaced, do it now. You don’t want the roof to be an area of distraction and it will likely be required anyway.)

 Keep Your Buyers’ Goals in Mind

Consider that potential buyers of a dated or fixer property will likely be planning on renovating themselves, and will have their own ideas on what changes they want to make. So you don’t have to do everything, especially things they will likely later undo. That’s why spending big on significant improvements can actually be counterproductive in these situations. Your job is to make the home and property liveable, neat, and tidy, so they can best see and appreciate its potential.

Your buyer can take it from there!

(c) 2018. Doug Lawrence Real Estate. All Rights Reserved.

Doug Lawrence is a licensed real estate broker with Keller Williams West Sound in Gig Harbor, Washington. Do you have a “fixer” you’ve been thinking of selling and are dreading getting it prepped? Give him a call, whether you’re around the corner or across the country.  He’s happy to help you get the process started and guide you all the way from sorting to SOLD! 

The Best Place in Washington to Retire

Welcome to the Best Place in Washington to Retire!

Gig Harbor is proud to enjoy the distinction of having been named first on a list of “Best Places to Retire in Washington,” according to a study released by financial technology company SmartAsset. Gig Harbor scored a whopping, state-high score of 87.60 on SmartAsset’s Best Place to Retire index, edging out Sequim (84.93) for the top spot. Not only that, SmartAsset’s recreation index also placed Gig Harbor at the top among Washington cities!I

What makes Gig Harbor such a great place to retire? The study cited, among other things, the benefits of Gig Harbor’s 12 percent tax rate, 11.5 doctor’s offices per 1,000 people, and 23.6 percent of the population at senior age.

But besides the facts and figures, the retirement lifestyle in The Maritime City offers all kinds of delightful opportunities.  Make new friends or meet up with old ones over coffee or a happy hour; both the Uptown area and the downtown waterfront offer multiple enjoyable options. Many Gig Harbor retirees also enjoy the all-ages, fitness-oriented environment at the Tom Taylor Family YMCA in Gig Harbor North, where they can take a walk indoors, make waves in a Silver Splash water aerobics class, or volunteer and become part of the fun and dynamic community. They can also join the Active Retirement & Senior Club of Gig Harbor, a membership-based organization offering a full slate of recreational and cultural activities.

Outdoor opportunities are plentiful, rain or shine, including “walking the harbor” (what locals call a stroll or jog on the waterfront) or the Cushman Trail, kayaking or paddleboarding, boating, fishing, and more. The arts are alive and well in Gig Harbor’s monthly Art Walk and the many local galleries and annual Art Festival.

Have a bit of the wanderlust? If you’re wanting to venture beyond Gig Harbor’s relative peace and quiet, opportunities for outings abound. The big city amenities of Seattle and Tacoma are not far away, nor is the unsurpassed beauty of coastal communities and mountainous national parks to the east and to the west. Whether your bent is concerts or camping, a delightful variety of entertainment and recreation options lie at your doorstep, and the time to enjoy them is . . . now!

Doug Lawrence is a licensed real estate broker with Keller Williams West  Sound in Gig Harbor. Give him a shout for all your buying, selling, and investment in real estate needs; he’s here to serve and make your transition to or within Gig Harbor (and the surrounding area) as smooth as possible! www.douglawrencerealestate.com

Walk/Run/Bike the Cushman Trail

#PierceCounty: are you looking for an all-ages, all-skills route for your next run, walk, or bike ride?  If you’ve not yet checked out Gig Harbor’s five-mile Cushman Trail, now’s the time!

The Cushman Trail is a paved community trail that will keep your interest and adrenaline pumping along its undulating hills and changing vistas. It’s as much of a workout as you’d like to be, depending on which parts of the trail (or all of it) you take advantage of. Like hills? A roundtrip between the trailheads on 14th Avenue Northwest and Borgen Boulevard climbs nearly twice as many vertical feet as a round trip on the similar Foothills Trail (from Puyallup to South Prairie), even though it’s less than half the distance. In some places, the Cushman Trail has a grade of 10 percent.

That being said, the trail is accessible to walkers of all ages and skills, and hand rails and benches are found at many spots along the trail (as well as restrooms, five to be exact). The trail has a difficulty rating of 3 (5 is most difficult; 1 is easiest). If you do the whole thing and back, you’ll travel 12.4 miles round trip with an elevation gain of 800 feet along the way. The trail is 16 feet wide with four-foot-wide gravel shoulders. Dogs are permitted on leash (and please clean up after them!).

For cyclists, the Cushman Trail can easily be linked with Tacoma’s Scott Pierson Trail, which adds a scenic trip over the Tacoma Narrows Bridge. To access the Pierson Trail from the Cushman Trail’s 14th Street trailhead, head south to 24th Street and turn right. From there, locate the Pierson Trail on your left after crossing State Route 16. There is no toll for crossing the bridge by bike.

Summertime is a great time to get out and take advantage of the beautiful weather and views around Gig Harbor. Check out the Cushman Trail, get some exercise — and enjoy!

DIRECTIONS: To reach the 14th Avenue Northwest trailhead, take the 24th Street Northwest exit from State Route 16 and turn east. After one block, turn left on 14th Avenue and drive north for half a mile. The trailhead will be on the left.

(c) 2018 Doug Lawrence Real Estate. All Rights Reserved.

Doug Lawrence is a licensed broker with Keller Williams West Sound in Gig Harbor, Washington. He loves finding new things to do in his hometown and is always eager to pass it on! Find him at www.douglawrencerealestate.com #lovewhereyoulive #douglawrencerealestate 

Visit the Gig Harbor Marina and Boatyard

Recently we had friends from out of town stay at the The Gig Harbor Marina and Boatyard, giving us an opportunity to see up-close-and-personal what a cool place it is!

A long-time fixture in the Gig Harbor community, the Marina dates back to the early 1900s. These days, however, it provides much more than simply boat moorage and repair. Today’s GH Marina is just as well-known as an event venue, training facility, and hospitality suite, and is a hub of daily activity on the waterfront.

Customers will find well-maintained docks and moorage slips, haul out and repair services, technology and vehicles to maintain every caliber of boat, high-speed Wi-Fi, and a up-to-date and responsive website for convenient payment and service requests (we always find a good website to be a big plus!). The Marina is also a sought-after event location, offering a gorgeous, covered, open-air venue (hello weddings, concerts, receptions; you name it!) as well as a beautifully-renovated apartment with two private decks overlooking the waterfront, available for booking through VRBO.

There are also boats available for booking as hospitality suites, including The Eagle, originally built for musician Steve Miller. Our friends stayed a few nights on The Eagle and it was fun to play Steve’s keyboard (original to the boat) and listen to his record albums (yes, real old vinyl) on the stereo. It was blast from the past and had us humming, “Fly like an eagle … to the sea . . . let my spirit carry me . . .” for days afterward!

Perhaps one of the most fun aspects of the Marina is the little red trolley car nestled on the lawn out front. It’s technically not affiliated but it’s certainly a fixture on the premises, and serves up delicious food for guests and passersby alike. You should check it out: stop by for some fish and chips or fish tacos or any of its other tasty offerings, and enjoy a “taste” of this iconic Gig Harbor gem!

(c) 2018 Doug Lawrence Real Estate. All Rights Reserved.

Doug Lawrence is a foodie, travel junkie, and 80s music fan who supports his adventures by working as a real estate broker based in Gig Harbor, Washington. Give him a shout if he can help you with your real estate buying, selling, or investment needs, not only in Gig Harbor, but anywhere around the world. http://www.douglawrencerealestate.com

 

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