'I Wasn't Looking to Sell My Home, But for the Right Price...'

Francis, a Seattle homeowner, shares what it was like to sell a house without putting it on the market. As told to Jamie Birdwell-Branson.

Shortly after moving into my Seattle house in 2015, I listed it on Zillow’s for-sale-by-owner pre-market feature, Make Me Move. I got everything organized and listed my home for $100,000 more than what I had just paid.

I thought my home had a lot to offer. I played up the lot, which was giant for Seattle at about 8,000 square feet. The house was also in a really picturesque neighborhood with a great location. The real selling point of the house, though, was the excellent public school district, which I thought would speak to young families.

I knew that I wasn't going to sell the house right away, because I didn't want to pay a capital gains tax, which you incur if you sell your primary residence before you've lived in it for two years. Knowing this, I just wanted to feel out the interest in the neighborhood and the house - just to keep a pulse on the market. If I got a wild offer, however, I figured I’d take the 15-percent capital gains hit, even knowing that it would be more complicated to deal with than just waiting the two years.

A couple of months went by without anyone approaching me, but a few potential buyers and agents slowly started to reach out. Once the buyers started to throw serious offers my way, I thought I might need to raise my price, because I wanted to avoid selling it under the two-year mark. Eventually, I did increase the price, because I was getting too much interest. To help me determine a better price, I looked at the comps to know if I was under or over the appropriate value of the home.

Showing the home

Out of the 20 or so hits I got over the two-year period, I showed the house to seven people. When they wanted to check it out, I set up a time for them to walk around the house for 20 minutes. During the showings, I spoke very frankly about the home’s condition. And I didn't feel the need to give a hard sell, because I had the benefit of not being in a rush to move. I could have gone either way between, "Oh yeah, I can stay here," or "I'll take the offer."

I ended up with a cash offer, but it wasn't enough. I got another cash offer that was pretty high, but then a couple whose friends lived on the street approached me with an even better offer. We sealed the deal on the condition that closing day would be after that official two-year mark so I could avoid the capital gains tax.

This was a pretty easy decision to make, because I knew I could buy my sister's condo. That was really the deciding factor: I knew I could take the cash offer and buy a condo at a good price, without competing in the market with everyone else. At some point, you have to say to yourself, "OK, this is enough money to feel comfortable and happy moving from this investment to another one."

The process

In comparison to a traditional real estate transaction, the Make Me Move experience was surprisingly straightforward. If you're not in a big rush and you find a buyer that's willing to work with you, drawing up a contract is relatively easy. If you’re hesitant to do it alone, don’t let the paperwork intimidate you, because it's all boilerplate and very sensible. If you've gone through buying a house once, you can handle the paperwork without any issues.

Listing your home pre-market is a great way to test the market and buy or sell in a low-pressure way - and potentially save money.

The best thing about selling a house on your own is that everyone can just be honest about their expectations - whether it's the buyer or the seller. For the buyer, it's more transparent if the seller is serious. And then you can say, "OK, can I afford this? And is that what I want for that price?" versus just going into a blind bidding situation.

For the seller, you're not on any hard timeline, and you don't have to stage a house or lose money on a mortgage for a house that's just sitting there. You can plan the logistics a little better when it's all on your terms.

Related:

• U.S. Homeowners Spend $15,000 in Hidden Costs to Sell a House
• What Do Buyers and Sellers Pay in Closing Costs?
• Factors to Consider When Pricing Your Home to Sell

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Hidden Costs of Homeownership Typically Top $9,000 a Year

Buyers too often focus on a home’s list price or mortgage payment to determine what they can afford. However, the numerous less-obvious costs associated with homeownership can affect the monthly bottom line.

To help home buyers budget more accurately, Zillow and Thumbtack identified several common but often overlooked home expenses and calculated what homeowners around the country could expect to pay for them. The analysis also included utility cost estimates from UtilityScore.

While each extra expense might seem small, they cost U.S. homeowners, on average, $9,080 a year, according to the report.

Unavoidable costs

Nationally, homeowners pay an average of $6,059 a year in unavoidable costs, which include homeowners insurance, property taxes and utilities. Since nearly half (47 percent) of home shoppers today are first-time buyers, many of these extra costs may come as a surprise.

San Francisco homeowners pay the most of the metros analyzed ($13,019 on average), primarily due to the market's high home values and property taxes. Indianapolis homeowners pay the least ($4,699).

Maintenance expenses

Nearly all homeowners (96 percent) have made some kind of improvement to their homes, according to the 2016 Zillow Group Report on Consumer Housing Trends. While many complete these projects themselves, those who pay professionals can expect to spend an average of $3,021 for the six most common hired home projects requested by Thumbtack users: carpet cleaning, yard work, gutter cleaning, HVAC maintenance, house cleaning and pressure washing.

Labor costs can vary significantly by region, with Seattle homeowners paying as much as $4,052 a year on average for those six projects, while San Antonio homeowners pay an average of $1,962.

Budget planning

More than a third of buyers go over budget on a home purchase. To help buyers better understand the total cost of homeownership, Zillow Group launched RealEstate.com, a website that allows people to search by the "All-In Monthly Price" of owning that home. In addition to the mortgage, the price includes estimated property taxes, insurance, PMI, utilities, taxes, HOA fees and closing costs.

Curious how much these hidden homeownership costs are in your area? Here's a breakdown of the metros analyzed in the report:

Related:

• Taking Care of Your New Home, Season by Season
• What Is a Home Warranty, and Do You Need One?
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We Bought a Home Sight Unseen (Here's What We Learned)

Designer Lookbook: Summer Thornton's Mediterranean Home Makeover

Interior designer Summer Thornton turned a newly constructed Mediterranean-style house in sunny Naples, FL into a beautiful vacation home, featuring refined decor and a soothing color palette.

"The homeowner wanted it to feel bright, casual, and elegant, so I steered the interior design toward more traditional furnishings and a light color palette with pops of color," says Thornton of the second home."It’s on a beautiful lot that backs up to water, so they’ve got amazing, peaceful views from the lanai and pool."

Thornton was also tasked with seamlessly blending the Mediterranean architecture of the house with classic styling and relaxed, casual furnishings to create an abode that encapsulates "refined Florida elegance."

Along with furnishing the home, the designer also helped with the interior architecture, choosing finishes throughout. And since it was a second home, Thornton also helped choose all the accessories, from the decorative tchotchkes down to the dishes.

"The homeowner wanted a space where they could have the whole family down for holidays and gatherings," she says. "They're grandparents, and wanted their grown kids and grandchildren to feel relaxed and comfortable."

Hailing from the Midwest, the homeowners visit the home in the winter, and they wanted to keep the decorative elements elegant and not overly tropical.

Since the homeowner was gravitating toward a tranquil color palette of blue and white, Thornton used the color scheme throughout, from indigo fabrics to graphic wallpapers and Chinese ginger jars.

And as a nod to Naples' gulf setting, Thornton incorporated tropical plants, like a fiddle-leaf fig tree, along with Audubon prints of herons and smaller decorative touches, like coral.

"In total, I think we had more than 200 pieces of coral - about 600 pounds, I believe - and over 50 pieces of blue-and-white pottery interspersed throughout the home," she says.

Thornton used metallic accents, wood, textured wallpapers, and natural fibers to add warmth and a layered look to the home.

"A few of my favorite features include the flora and fauna hand-painted panels in the foyer, the blue-and-white Granada tile backsplash in the lanai, and the faux-bois wallpaper in one of the guest bedrooms," she says.

Get the look at home

• Look to nature for inspiration. "Too often I see homes full of beige and tan because people think it will go with anything," says Thornton. "But if you look at nature, there's a variety of tones and colors and shades found throughout. Green and blue are so prominent in nature that the eye actually sees them as a neutral." Thornton advises mixing and matching colors when choosing furniture, paint, and decorative elements.
• Accessorize, accessorize, accessorize. “Most homes I see are 80 percent complete," says Thornton. "They have all the furnishings, all the must-have items, but they're missing the touches that make a house feel like a home." Layering and stacking decorative accessories gives a room a finished look. Starting a collection is a good way to amass items that can add personality to your home. "Once you do, your home will feel more personal, unique, and complete," she says.
• Mix your metals."I’m a firm believer that kitchens often feel flat because everything matches too perfectly," says Thornton. "By simply changing your cabinet hardware, you create a whole new look." In this home’s kitchen, Thornton mixed three different pull styles, and used both brass and polished nickel.
• Find pillows that pop."Most of the upholstery in this home was white, so we made it pop with colorful pillows," she says. Grab your favorite pillows and textiles, and layer them on your couch or bed to give your home an effortlessly collected look.

See more home design inspiration on Zillow Digs.

Photos by Brantley Photography.

Related:

• Designer Lookbook: Susan Jamieson’s Coastal Getaway
• Decorating Your Vacation Home
• Designer Lookbook: Rebecca Van’t Hull’s Colorful Weekend Retreat

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9 Effortless Ways to Reduce Your Electric Bill Right Now

We all want to save energy and money, right? But it’s not always so easy - perhaps you don't have the time for a home energy audit, or maybe there simply isn't room in the budget for that energy-saving appliance you want.

No worries! Here are some quick and easy ways to reduce your home energy usage right now.

Reduce hot water usage

Don't worry - you don't have to take a low-flow shower! But heating up hot water does require energy, so take the simple and painless route:

• Adjust the water heater’s temperature. Lower your water heater to 120 degrees F (49 degrees C). An added bonus - you’ll lower the risk of scalding accidents.

• Don't overuse the dishwasher. Try to run your dishwasher only once a day or when it’s completely full. See if your utility company offers savings for running appliances at off-peak times.
• Wash clothes in cold water. Most modern detergents clean clothes very well with cold water. If you have items that you really need to wash in hot water, save them up and do one hot load every few weeks.

Projected savings: Up to $250 per year, depending on the number of people in your home.

Turn it off

Little things add up! An easy way to save money on your energy bill is turning off the lights, electronics, and other energy users when you’re not using them.

• Leave a room, switch lights off. Make a habit of turning off everything in the room when you leave it - the TV, lights, your computer, etc.
• Get the kids involved. Make a game out of turning off the lights instead of constantly reminding them to do it. Offer some sort of small, nonmonetary reward for remembering to turn off their bedroom lights for a week.
• Install countdown timer light switches. For intermittently used rooms, such as the bathroom or laundry room, install a countdown timer light switch that will turn off the lights after a specified period, so you don't ever have to worry about it.

Projected savings: Between $100-$300 per year, depending on the number of people and rooms in your home.

Heating and cooling bill savings

Generally speaking, the furnace and air-conditioner are the big energy hogs in your home. Here are some easy ways to reduce your dependence on them - and save money!

• Use windows strategically. Install heavy drapes or blinds on windows located in sunny areas of your home. Open the blinds on cold days to take advantage of the sun's warmth, and close them on warm days to block out the sun.
• Install ceiling fans. This one takes a bit more effort than the others, but the payoff can be quite large. Run ceiling fans counterclockwise or downward during the summer to force cool air down into the room. Run them clockwise and upward in the winter to better distribute the warm air.

• Adjust the thermostat. Yes, this sounds obvious, but one of the best ways to save on heating and cooling bills is simply lowering the thermostat in the winter and raising it in the summer! A programmable thermostat is ideal, but you can save money even with a traditional thermostat. In winter, lower your thermostat by 10 to 15 degrees for at least eight hours - when you leave for work, before you go to bed, or both - then raise it when you’re back.  If you have air-conditioning, do this in reverse come summer.

Projected savings: From 10-30 percent on your heating and cooling bills each year.

Saving energy doesn't have to be a chore. With some very simple lifestyle changes, you can reduce your carbon footprint and save big!

Related:

• Install a Smart Thermostat to Cut Your Utility Bills
• Use Less, Save More: Energy-Efficient Tips for Lowering Your Utility Bills
• Simple Changes for a Greener Home

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Understanding the Role of the Real Estate Agent

The road to homeownership can be bumpy, and it's often filled with unexpected turns and detours. That's why it makes sense to have a real estate pro help guide the way.

While real estate websites and mobile apps can help you identify houses you may be interested in, an experienced agent does much more, including:

1. Guide. Before you tour your first home, your agent will take time to learn more about your wants, needs, preferences, budget and motivation. A good real estate agent will help you narrow your search and identify your priorities.

2. Educate. You should expect your agent to provide data on the local home market and comparable sales. The home-buying process can be complicated. A good agent will explain the steps involved – in a manner that makes them understandable – and provide counsel along the way.

3. Network. An agent who is familiar with your target neighborhoods will often know about homes that are for sale – even before they're officially listed. Experienced agents tend to know other agents in the area and have good working relationships with them; this can lead to smooth transactions. Your agent may also be able to refer you to trusted professionals including lenders, home inspectors and contractors.

4. Advocate. When you work with a buyer's agent, their fiduciary responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who's contractually bound to do everything in their power to protect you. If you find yourself in a situation where the same agent represents both the buyer and seller, things can get trickier, advises Scottsdale, Arizona-based real estate agent Dru Bloomfield.

"A lot of people think they'll get a lower price by going straight to the listing agent, but that's always not true," she says. "If I was representing both the buyer and seller, I'd be hard-pressed to take a low-ball offer to the seller. But, as a buyer's agent I'd do it, because I have no emotional ties or fiduciary responsibility to the seller. Buyers should work with an agent who can fully represent them."

5. Negotiate. Your agent will handle the details of the negotiation process, including the preparation of all necessary offer and counteroffer forms. Once your inspection is done, the agent can also help you negotiate for repairs. Even the most reasonable consumers can become distraught when battling over repair requests; an agent can do "the ask" without becoming overly emotional.

6. Manage minutia. The paperwork that goes along with a real estate transaction can be exhaustive. If you forget to initial a clause or check a box, all those documents will need to be resubmitted. A good real estate agent understands the associated deadlines and details and can help you navigate these complex documents.

7. Look out. Any number of pitfalls can kill a deal as it inches toward closing; perhaps the title of the house isn’t clear, the lender hasn’t met the financing deadline or the seller has failed to disclose a plumbing problem. An experienced real estate agent knows to watch for trouble before it's too late, and can skillfully deal with challenges as they arise.

Professional real estate agents do so much more than drive clients around to look at homes. Find an agent you trust and with whom you feel comfortable working; you're sure to benefit from their experience, knowledge of the local market and negotiation skills.

Related:

• 5 Ways Home Buyers Make Their Agent’s Job Harder
• Renters: Are You Ready to Buy a Home?
• 4 Things to Know About Buying a ‘For Sale by Owner’ Home

Originally published July 21, 2014.

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Designer Lookbook: Jackson Thomas Interiors' Classically Coastal Haven

A dated home on the James River in Williamsburg, VA was in need of a face-lift and a coastal touch to echo its waterside setting.

The home, located in Williamsburg's beautiful Governor’s Land neighborhood, was gutted and updated with timeless materials. Wood floors were refinished in a darker stain, and the walls were painted in a creamy ivory.

While the walls were kept neutral throughout the home, color and personality pop in the fabrics and decor, thanks to the efforts of Jackson Thomas Interiors‘ owner and lead designer Christine Estep, and senior designer Stefanie Powell.

 

Drawing design inspiration from interior designer Barclay Butera’s coastal homes, the homeowner requested rooms filled with soothing shades of blue and white, organic textures, and brass. The homeowner also had several family antiques she wanted to incorporate.

"We focused on doing more of the blue and white shades in the great room, because they really pulled in the traditional feel that the homeowner was looking for, while also tying into the water," says Estep.

The designers layered textures like wicker, seagrass, brass, and dark woods to warm up the cool, coastal color palette.

The living room's fireplace facade was covered in a porcelain custom-blend tile with the appearance of a basket weave - a nod to the natural woven fibers used throughout the home.

Good enough to eat

In the kitchen, existing cabinets were updated with a coat of crisp white paint and accessorized with brass bamboo hardware. Berwyn from Cambria quartz countertops with cool gray veining were paired with a sea-glass backsplash.

For contrast, a butcher-block countertop was installed on the island, and oversized brass lanterns add drama and visual interest. Behind the cooktop, an antique tray was transformed into a piece of artwork, framed by sea-glass tile.

In the neighboring dinette, a banquette upholstered in turquoise and blue fabrics ties back to the sea-glass backsplash in the kitchen, paired with a more traditional wooden table and chairs.

Ready for guests

A grass-cloth wallpaper embellished with gold knots provides an elegant backdrop in the powder room. The cozy bathroom is furnished with a small vanity, topped with a copper sink that features a whimsical frog sculpture detail, along with a brushed-bronze faucet and mirror.

In the dining room, Estep covered the walls in grass cloth and introduced a deep orange to the blue-and-white color scheme to create a more formal atmosphere. Artwork collected by the homeowner adds an elegant and personal touch.

"For the dining room, the light fixture was a big launching point, because the homeowner liked brass, and it had a very nautical feel - like a ship’s wheel," Estep adds.

Absolutely dreamy

In the master bedroom, all the furniture and accessories, from the window treatments to the pillows and furniture, were custom-made.

A vibrant peacock blue is paired with a subtle blue-and-ivory paisley fabric used to upholster the headboard and cornice boards. Behind the headboard, an accent wall covered in grass cloth adds subtle texture.

The biggest and most dramatic renovation project was the master bathroom, which was completely gutted and designed so the homeowners could age in place. Wainscoting painted in a cheery white is juxtaposed with a pearlized wallpaper by Fabrica.

Slip-resistant tiles were installed, along with heated flooring throughout the bath and shower. Cambria quartz tops the vanity and surrounds the tub. In the shower, a mix of marble and pearlized tiles are paired with aged brass fixtures, giving the master bath a luxe look.

Get the look at home

• Use stone scraps. A small cut of granite or marble is an affordable and easy way to dress up and customize a ready-made vanity. "You can find a piece for next to nothing and have it cut to fit," says Powell. The designers found a small remnant that they had cut to 30 inches wide for the powder room vanity.
• Create cohesion with wall color. "In an open-concept home, we always suggest picking one color for common areas - the foyer, great room, corridors - to keep the space light and airy," Powell explains. "In this home, we chose a shade that was a touch down from the trim color. It really expanded the homeowner's space quite a bit."
• Layer texture and colors for personality. "You can make a monochromatic color scheme exciting by changing up your patterns and textures," says Estep. "It can really make a space look unique."

See more home design inspiration on Zillow Digs.

Photos by Sara Harris Photography.

Related:

• Designer Lookbook: Susan Jamieson’s Coastal Getaway
• Tips for Designing a Perfectly Timeless Coastal Home
• Remodeling a Traditional Cape Cod-Style Home

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DIY Backyard Fire Pit: Build It in Just 7 Easy Steps

Turn your backyard into a cozy camp spot by making your own fire pit. This outdoor DIY project is easy to complete, and you'll be making s'mores and cuddling up by the fire in no time.

Get ready

Before you start building your backyard fire pit, you’ll need to gather some supplies: bricks for the fire pit wall, gravel, twine or string, a tape measure, a stake, a large shovel and a trowel, a tamp, and a level.

When purchasing bricks for the fire pit wall, go for something sturdy like retaining wall bricks or concrete pavers. Some home improvement stores even carry bricks specifically designed for fire pits. Use a layer of firebricks, which have a higher heat resistance, on the inner layer of the fire pit as an extra safety measure.

Also, before you begin building, be sure to consult your local fire code to find out whether fire pits are allowed in your city, and, if so, how far away the fire pit has to be from a structure.

Now that you have all your supplies and you’ve checked your local fire code, you’re ready to build!

1. Create a circle.

Pick out a spot in your yard for your fire pit (ensuring that it is located a safe distance from any structures, bushes, or trees), and insert a stake in the ground where the center of the pit will be.

Tie one end of the string or twine to the stake and measure how wide you want your circle to be. Typically, a fire pit has a diameter of about 4 to 5 feet. Cut the string, and tie the other end to the handle of a trowel. With the string or twine taut, drag the sharp end of the trowel around in a circle, creating a line in the grass.

2. Shovel out the grass.

Using a large shovel, dig out the grass inside the circle.

For safety purposes, the hole for a fire pit should be about 6 to 12 inches deep. Be sure to call 811 before you start digging to ensure there are no utility lines buried under the spot you’ve chosen.

3. Tamp down the dirt.

If you don't have a tamp, you can just use the bottom of your shovel.

4. Make sure the circle is level.

Get down on the ground with your level to ensure that the surface is ready for the bricks to be laid. Keep making small adjustments until it's completely level.

5. Add gravel.

Put a pretty thick layer of gravel in the fire pit (at least a couple of inches). Spread the gravel around evenly.

6. Arrange the bricks.

After you've spread the gravel around, arrange your bricks in a circle and stack them in layers until the fire pit wall is at least 12 inches tall.

For extra safety, you have the option to put an inner layer of firebricks. Though you don't need to use mortar if the bricks are heavy enough to make a sturdy stack, you can use an outdoor, fire-resistant mortar between the bricks for extra stability.

7. Relax and enjoy!

Gather a couple of Adirondack chairs, some firewood, a few friends, and campfire treats to get full use out of your new fire pit.

See more fire pit design inspiration on Zillow Digs.

Related:

• 9 Fire Pit Designs to Fuel Summer Fun (Plus One You Can Build Yourself!)
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