At Carrie Pierce & Associates, we truly listen to your needs and place your best interest above our own 100% of the time. Call us to set up a one on one consultation and experience our top of the line service today!
11300 Pinehurst Way NE Seattle, WA 98125 (425) 518-1176

Move up in Down Market, Move Down in Up Market

If you’re considering moving up into a bigger and better house, now is the time to do it. If you’re consider retiring into a smaller place like a less expensive condo, best to wait this market out and do so in a seller’s market. Home Buying Financial Decisions

Let’s examine what happens when you move up into a bigger home. A couple we’ll call Steve and Mandy want to sell their home worth $300,000 and buy a better home worth $500,000. In the down market homes have lost about 30% of their value. Therefore Steve and Mandy’s home is valued at 30% less than $300,000, or $210,000. That’s right, they loss $90,000 in value on their home. Psychologically they are depressed about losing their home’s value and don’t think it’s a good idea to move up right now. But what happened to the value of the home they’d be purchasing? The home worth $500,000 has dropped in value by $150,000, now valued at $350,000. So even though Steve and Mandy lost $90,000 on their home, they are gaining $150,000 in value on the home they’ll be purchasing. All in all they’re gaining $60,000 in home value by making a move up in the down market.

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Children's Home Society Thanks Us for 7000 Diapers

It first struck me when a friend told me some babies can’t afford to wear more than one diaper a day. She told me in fact, some babies get wrapped in newspaper in lieu of a diaper. Call it hormones from just having my daughter or call it genuine concern, but hearing this brought me to tears. I couldn’t stand to think about all of the health and neglect issues that the babies faced from lack of clean diapers. I decided I needed to do something about it. Thus began my mission to save as many baby bottoms as I could. The Carrie Pierce & Associates Diaper Drive fundraiser was formed and three months later over 7000 diapers were collected and sent to the Children’s Home Society. I’m honored to have the story recently included on Children’s Home Society’s website.

Read Diaper drive helps North Seattle Parents.

Fun Facts on Homeowner’s Insurance

Did you know that brick houses cost three times the amount of money to insure than non-brick homes? Apparently in the case of an earthquake they’re the first to go. Although we never actually see them fall down in an earthquake, the insurance companies sure love to use this as a reason to charge you more.

I’ll bet you didn’t know that you can get a homeowner’s insurance policy that protects you in case of a condo assessment. To be specific, the coverage is only effective if the assessment was passed to you due to a natural event like flooding or wind storm damage.

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Buyers Going it Solo?

I am shocked by how many buyers go unrepresented by real estate agents even though buyers’ real estate agents come free of charge. There are two reasons why buyers do not get representation. The first reason is they generally haven’t heard the good news that it’s free. The second reason is that buyers think they’ll get a better deal if they are not represented by a real estate agent.

First, let’s clarify how buyers’ agents get paid for those who don’t know; buyers’ agents are paid by the seller. Here’s how it works. The seller and the seller’s agent have a listing contract where a pre-set commission amount is established for both agents. The full amount of the commission, which on average is 6%, goes to the listing agent’s broker and then the listing agent’s broker splits the commission with the buyer agent’s broker. On average, each agent’s broker receives 3%. Both agents then receive a portion of their broker’s commission based on a separate contract they have with their broker. For buyers this commission structure is great! You don’t have to pay a buyer’s agent; they are paid by the seller. On the down side, when it’s your turn to sell you’ll likely pay two commissions, or roughly 6%.

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