Olympia and Thurston County Washington
Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from national market statistics to greater Olympia area home value trends and Thurston County happenings. That’s because we care about the community we serve and want to help you find your place in it. Please reach out if you have any questions at all or have a question or situation we can bring clarity to, and maybe it will end up being an article to help everyone!

Feb. 19, 2020

Financial Peace University is back May 4th 2020!

Did you know that 76% of American's live paycheck to paycheck and 64% can't cover a $1000 emergency? Join MVP Realty Group as Dave Ramsey shows us step-by-step how to create a budget, pay off debt, make wise spending decisions, and save for the future.

We're switching it up this year! This is a unique opportunity to do 2 classes per week. Commit to 30 days to get a solid start on your financial goals! We will be meeting every Monday and Thursday, beginning May 4th from 6:30-8pm. The class is complimentary. The only cost is for the class kit which is available online for $99. Trust us. It's worth it! Find Out More or Register with us below!

Posted in MVP Events
Feb. 10, 2020

The Price Is Right

How Pricing Your Home Right Makes a Big Difference

How Pricing Your Home Right Makes a Big Difference | MyKCM

 

Even in a market where there might be big buyer demand for homes and low inventory, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even in a "seller's market", pricing it right – or pricing it to sell immediately – makes a big difference.

Here’s the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high. We've seen this happen and, in the end, the home sold for less than it truly should have.

Bottom Line

If you’re thinking about selling your home this year, let’s get together so you have a professional on your side to help you properly price your home and maximize demand from the start.

Posted in Pricing, Selling
Jan. 25, 2020

FAQ: Why Make a Back-up Offer?

Why should I make a back-up offer on a property already Pending? Why not just wait until the home comes back to market if the current buyer doesn't complete the purchase?

When you make a backup offer, if accepted the seller holds your offer in second position and commits to notifying you if and when your offer automatically moves into first position due to the failure of the first buyer to complete their purchase. No other buyer can come in and take your second position, nor can the seller change any terms of your agreement. And, at any time prior to that notification you have the right to terminate so that you can go purchase another property.

Only if you attain that first position is it advisable to deposit any earnest money or invest in a home inspection, and then you still maintain your right to terminate for any reason or no reason at all with a full refund of your earnest money during that inspection period. But it is still important to have a solid financing plan for that property to present to the seller with your back-up offer, so don't skip that step.

You could choose to wait and watch for that property to come back to the market in an Active status. You won't know the sale failed until it does. And it may never come back if another buyer finds a place for themselves in a back-up position making it impossible for you to have another go at the property.

Bottom Line
There's really no downside to being in a back-up position on a property you like as long as you have an experience broker drafting your offer and guiding you through the process. Just don't put all of your hopes in it. Keep looking for the next property.

Posted in Buying, FAQ
Jan. 24, 2020

Homebuying Checklist

2020 Homebuying Checklist | MyKCM

Some Highlights:

  • If you’re thinking of buying a home, plan ahead and stay on the right track, starting with pre-approval.
  • Being proactive about the homebuying process will help set you up for success in each step.
  • Make sure to work with a trusted real estate professional along the way, to help guide you through the homebuying steps specific to your area.
Posted in Buying, Mortgages
Nov. 20, 2019

Charity Drive 2019

 

It's time for MVP Realty Group's annual food, fund and clothing charity drive!! 

We will be collecting funds, non-perishable food items for Thurston County Food Bank and warm clothing for St. Vincent de Paul from now until December 13th, 2019. Drop off your donations at our office location, 1219 11th Ave SE, Olympia,  from 9am to 5pm. MVP WILL MATCH MONETARY DONATIONS!

Guidelines for donations:

Before you embark on the task of collecting food items, consider this alternative: Cash! Fund donations reach far and wide as Thurston County Food Bank uses cash to purchase items in bulk. This food is available at a deep discount and this year MVP will match all fund donations up to $500.

Cash aside, we are welcoming all non-perishable food items and warm clothing donations. Please make sure donations are undamaged before donating. 

  • We cannot accept expired or partially used/opened food items
  • All clothing donations  must be in decent shape - no holes, rips, stains, tears etc...
  • Unfortunately, we cannot accept perishable items (fresh produce, dairy, raw meat etc...) but your CASH donation will allow the Food Bank to purchase these items.

Food Donation Ideas/ Most Needed Items: 

  • High protein food such as canned chili, peanut butter, beans, or canned meat are highly desirable items.
  • Pasta and macaroni and cheese.
  • Basic staples such as flour, sugar, coffee, cereal etc...
  • Canned fruits and vegetables.
  • Soup/stew/broths
  • Baby food, baby cereal, and formula.
  • Small packages (1-6) of paper towels, toilet paper etc...
  • Warm clothing, shoes and winter accessories (gloves, hats, scarfs etc...)
Posted in MVP Events
Oct. 16, 2019

FAQ - Inspection: Buyer Counters Seller

So, what happens if the buyer rejects the seller's response to their inspection demands and offers a counterproposal? MVP Realty Group CEO, Matthew Plummer, explains.

Posted in Buying, FAQ, Selling, Video
Sept. 13, 2019

The Role Access Plays in Getting Your House Sold

The Role Access Plays in Getting Your House Sold | MyKCM

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access you can provide to MVP to be able to show your home.

Here are five levels of access you can provide to a buyer, each with a brief description:

  • Lockbox on the Door – This allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  • Providing a Key to the Home – Buyer’s agents would need to stop by our MVP office to pick up the key and return it after, which will delay showings and limit the number of buyers who can see the home that day.
  • Open Access with a Phone Call or Text – The seller allows showing with a little notice by phone or text, perhaps just an hour or two.
  • By Appointment Only – Example: 24-48 hour notice. Many buyers who are relocating for a new career or promotion may fly in for just a couple days in order to tour homes, or they might start working in the Olympia or Joint Base Lewis McChord area prior to purchasing their home and wish to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  • Limited Access – Example: the home is only available for a couple of hours a day. This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all. It's all about the full package when marketing your home.

Posted in Selling
Sept. 11, 2019

How to Prepare for Carpet Cleaning

 

Getting your carpets cleaned on a regular basis will enhance the overall cleanliness of your home and help lengthen your carpet's lifespan! 


Although it can be a relieving to hire a professional to do the job, these small steps can ensure you get the cleanest carpet possible and the most for your money! 

1. Vacuum if Necessary

Although the professional you hired will be cleaning the carpets thoroughly, it is important to vacuum first to remove any dirt and debris that might be stuck deeper in the carpet. Some professionals vacuum before cleaning while other expect the homeowner to do so. We recommend checking with your professional before your appointment.  

2. Remove Fragile and Valuable Items
 

These items should be removed from the cleaning area and kept in a safe place. Majority of professionals are screened before hire; however, it can't hurt to be too cautious. 

3. Move Furniture if Necessary
 

Some companies will charge a fee for moving furniture. By moving it on your own you can save some money and ensure you get a clean from wall to wall, which will result in a smile ear to ear! 

4. Move Small Items from the Floor 

It is important to move these small items out of the cleaner's way so that he/she can effectively perform their job. It is also a good idea to move or pin window curtains that might also get in the way. 

5. Remove Anything You Wont Need for 24 Hours 

Carpets can take a long time to dry, and on humid days they can take up to 24 hours. It is important not to move any furniture back until the carpet is completely dry. Items with wooden or metal feet could leave stains when placed on a wet carpet. This is something to definitely be cautious of. 

6. Do Not Pretreat Carpet

Although you might think you are doing the cleaner a favor, do not pretreat your carpet before they arrive. Over-the-counter chemicals can react with professional chemicals and lessen the chance of success. 

7. Point Out Any Areas of Concern
 

Take time to show your cleaner your main points of concern to ensure that he/she knows the areas that might need some extra treatment. This will result in a happier and more fulfilled experience overall! 

Posted in
Sept. 10, 2019

MVP Fall Decor Contest

 

Are you a homeowner who enjoys decorating for the seasons? Do you love Fall and the cozy atmosphere it brings? Then enter MVP's Fall Decor Contest! 

We will be accepting entries through October 31st. All you need to do is send a photo of your fall decor to service@mvprealtygroup.com and you are entered into the contest! 

Photos will be shown to our panel of judges who will then decide who wins. The winner will receive dinner from a restaurant of their choosing in addition to movie tickets for a perfect date night! 

It's your time to shine, show us your interior design skills today! 

Below are links to a few resources with Fall decorating tips! 

Country Living: https://www.countryliving.com/home-design/decorating-ideas/advice/g1536/fall-decorating-ideas/

HGTV: https://www.hgtv.com/design/decorating/design-101/our-45-favorite-fall-decorating-ideas-pictures

Country Living DIY Decor: https://www.countryliving.com/diy-crafts/g1533/fall-crafts/?slide=5

Posted in
Sept. 2, 2019

Right Price Equals Visibility

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? | MyKCM

In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 3.6% over the last 12 months. By this time next year, CoreLogic predicts home values will be 5.4% higher.

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little over market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing (see the chart below).Is Your House “Priced to Sell Immediately”? | MyKCMInstead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.

The secret is making sure your house is Priced To Sell Immediately (PTSI). That way, your home will be seen by the most potential buyers. It will sell at a great price before more competition comes to the market.

Bottom Line

If you're debating listing your house for sale, Contact Us  for a no obligation, complimentary consultation to discuss the best pricing strategy for maximum exposure of your home in your micro-market.

Posted in Pricing, Selling