Movin' on Up!

Speaker 1: [0:09] Hello, hello, and welcome to the Awesome in Seattle podcast. My name is Christian Nossum, with the Awesome & Nossum Group here at Wilson Realty. And as always, I have a team with me. Who is here today?

Speaker 2: [0:22] Na-na-na-na. Sarah Kate Davis.

Speaker 1: [0:25] Jason Saldarriaga. As always. As always.

Speaker 2: [0:30] Charlotte Reynolds.

Speaker 1: [0:32] All right. As always. As always, exactly. So today we are going to discuss moving up, meaning selling and buying at the same time. And, uh, this is a topic that a lot of people don't fully understand because it's pretty complex. There's a lot of moving parts, um, and it makes sense why it's kinda hard to comprehend. Um, but basically we're gonna kinda go over the options that you have to do the buy and sell at the same time. We're gonna kinda go over briefly the cost of selling a house, explain the different timing options that are out there, uh, things that you should do to prep your home, and then finally we're gonna go over what gives you the best return on investment, meaning if you were to spend 20 grand to fix up some things at your house, uh, what's gonna give you the best return on that 20 grand? What's gonna make you more money? And, uh, it's actually surprising what those answers are. And, um, and we also have, we can talk about a little bit about how we have a company that we can work with that can basically put the cost of those remodels, uh, and you just pay 'em out of closing at the very end of the deal, so you don't have to be out of, out of cash upfront. So first off, let's talk about some of the different options out there. Charlotte, what are, what are some, some ideas and, and ways that people can go about buying and selling at the same time?

Speaker 3: [2:00] Yeah, so there's a few different ways to go about it. Um, so to start out with the most easiest option, you can buy first and sell your house later. So if you can get qualified to buy without selling first, um, again, this is by far the, the easiest way to do it and the least- Mm-hmm … complicated

Speaker 1: [2:17] option. But the, the only issue with that is not everyone can qualify for two loans.

Speaker 3: [2:21] Exactly.

Speaker 1: [2:21] That's the big thing. Yeah. And a lot of times people need the funds from the sale of their current house for their down payment on the second house.

Speaker 3: [2:29] Exactly, yeah. So if you can, this is just the best- Yeah … well, not the best, the easiest way to go- Mm-hmm … if you can do it.

Speaker 1: [2:36] Mm-hmm.

Speaker 3: [2:36] Um, another option is to sell first and then do a rent back, which works really well if we're in a seller's market. So what that means is you can sell your home and continue to live there while you're looking for your new home. Um, and sometimes, you know, depending on what the market's looking like, you can potentially live there for free after you close. Yeah.

Speaker 1: [2:53] And you can do that for up to 60 days after closing.

Speaker 3: [2:56] Yes.

Speaker 1: [2:58] Yeah.

Speaker 3: [2:59] Um, so I mean, if you can't get a rent back, you can always move in with family or friends or- Mm-hmm … whatever. There are other options. Um- Or do a

Speaker 1: [3:04] short-term rental or something.

Speaker 3: [3:06] Yeah. Um, but yeah, that's another option. There's also simultaneous close, which this sounds crazy to me, but sell your house and close on your new house on the same day.

Speaker 1: [3:15] Mm-hmm.

Speaker 3: [3:16] You know, sometimes the stars just align that way, and it can happen.

Speaker 1: [3:19] Yeah.

Speaker 3: [3:19] But do you have any experience with that, Christian?

Speaker 1: [3:21] It's pretty tough to do-

Speaker 3: [3:23] Yeah … Speaker: because you have to find a, a buyer that's willing to be somewhat flexible on their closing date, and a seller that is also willing to be somewhat flexible. Um- It can be done. It has been done, but it's somewhat difficult to maneuver. Even so, you're still gonna have to have, uh, at least a day rent back in your old house, unless you have your moving truck all the way packed and ready to move into the next house in, like, a four-hour time span that evening, so. And if you do, uh, I really wanna know who you are.

Speaker 1: [3:56] Yeah, I know, exactly. If you can manage that all at the same time, that's pretty amazing. Yeah.

Speaker 3: [4:00] Yeah. So as nice as that sounds, I don't know what the-

Speaker 1: [4:03] Mm-hmm.

Speaker 4: [4:03] Yeah, and we don't necessarily, like, recommend that, right? No. Because things do come up that are in your control- Yeah … and you know what? Things come up that are not in your control sometimes. Exactly. And, uh, you know, if you're doing something like that, there's one slight hiccup, and the dominoes just fall. So- Yep … um, you, you generally wanna give yourself some breathing room here between- Yep … closing on one and the other.

Speaker 1: [4:27] Often not the best choice, a simultaneous close.

Speaker 3: [4:29] Yeah.

Speaker 1: [4:30] Yeah.

Speaker 3: [4:30] I mean, we even say when people are just buying- Mm-hmm … we even say, like, give yourself a couple extra days scheduling- Yep … your move because you never know with, like, delays and things, so.

Speaker 1: [4:38] Yep.

Speaker 3: [4:39] Um, and then another option is a contingent offer. So basically, you find your new house, put in an offer that's contingent on your old home selling, um, which again, depending on the market, this is definitely more accepted by sellers in a, in a more buyer-friendly market or a more balanced market. So- Yeah if they're getting a lot of offers on their home, they're not likely to accept a contingent offer.

Speaker 1: [5:03] Mm-hmm. Yeah,

Speaker 4: [5:04] you don't see too many of those in Seattle, uh, or you haven't in the recent past. You see them on occasion. Yep. Um, and then sometimes if there's, like, a niche market, luxury homes, that sort of thing, you'll see them. But, um, but yeah, in Seattle, it's- Not as common as other markets, for sure.

Speaker 1: [5:20] Yeah. And if the market does change in a few years where it's more balanced, uh, then we'll definitely start to see them again, but not right now.

Speaker 4: [5:29] And to be clear, the reason that you don't see them now is because, um, a seller's not, you know, it's a seller's market, so a seller's not gonna accept an offer that is contingent where they… That's, like, a contingency. That's- that's an ability for the deal to fall through- Mm-hmm … versus the three other offers that they're gonna have on- on hand most likely at the same time, that, you know, they'll choose those over that, so.

Speaker 3: [5:52] Mm-hmm.

Speaker 1: [5:53] There's also another option, uh, and this is, it used to be a lot, m- before the housing bubble burst, uh, there was an option called a bridge loan. Uh, the original bridge loans are really no longer available. Um, there are things that people are calling bridge loans that aren't necessarily the same exact thing anymore. Uh, but basically what this does in general is it bridges the gap. So it allows you to own your current home, purchase your next home, and bridge the down payment gap that you would have, uh, with this thing called the bridge loan, and then once you sell your current home, you would pay off that bridge loan. So that's a bridge loan in general. There are a lot of specifics that go into that. They're not always the best option. They can sometimes be very expensive as well. Um, but that's something that is out there as a potential option. So let's go over kind of the costs of selling. So excise tax is a big one, um, and the State of Washington just in January enacted new excise tax rules. So the old excise tax cost used to be 1.78% of the sale price. So whenever you sell real estate, you used to have to pay 1.78% of the purchase price to the county and state, um- And

Speaker 4: [7:18] that was in King County, right?

Speaker 1: [7:20] This is Snohomish, King, and Pierce- Okay … that this- Gotcha … the- these numbers are that I'm gonna talk about now. Um, so the state actually has, uh, 1.1%, uh, excise tax, and then the county adds a half percent on. So-

Speaker 4: [7:38] Merry Christmas.

Speaker 1: [7:39] Exactly. Um, and so basically from, if you have a home that will sell under, basically from $0 to $500,000, you only pay 1.6% in excise tax, so it actually went down from 1.78 to 1.6. Between 500,000 and 1.5 million, you're back to the normal 1.78% that we were all used to. If you're selling a home valued between 1.5 and 3 million, uh, that number jumps to 3.25%. And if you're over 3 million in sales price, you jump to 3.5%.

Speaker 4: [8:21] So the average price, the median sales price in Seattle right now is about 680 to 700,000. So for most people, and there's definitely a bell curve here on the amount of sales per, uh, if you look at, like, the price ranges. Mm-hmm. Uh, for the vast majority of people, there's no change to the excise tax for them, right? Yeah. It's really the low end that, um, a- and the obviously luxury properties that- Mm-hmm … they're gonna be sell- uh, paying a little more.

Speaker 1: [8:50] Um, we did attend an economic summit breakfast, uh, about a week or two ago, and it was interesting there. They had… One of the speakers were talking about condo, and multifamily, and, uh, commercial building sales, and leading up to the end of 2019, there was actually a flurry of sales in these big, very expensive buildings because they were trying to save on the excise tax. Um, it was actually pretty interesting looking at that graph and seeing how huge of a spike there was, and they were saving millions upon millions of dollars by selling before the end of the year. So pretty interesting. Uh, so on top of excise tax, you have title and escrow fees. Um, these are pretty minimal. You're not gonna pay… It's, uh, depending on the purchase price, but generally, you know, a few grand, couple grand, uh, for that, and then always you have real estate commissions. Now, the commissions, as a real estate agent, we did a episode all about this where we broke down what in- what that entails. But generally, it's about 6%-ish. That's always negotiable. We have to say that. Uh, but it is about 6%. We, as the listing agent, would the- will then split that in half, and it doesn't always have to be half, but generally it's split in half. And, uh, we give 3% of that to the buyer's agent, so whoever represents the buyer. Um, out of our fee, we generally cover a lot of expenses, marketing-type expenses, um, so we don't see all of that money, but it, it helps pay for, for those types of things. So those are generally the costs. A easy, super simple, uh, number to use when selling is assume it's gonna cost about 10% to sell. It's actually less than that, but just for easy math, when you're running back of the napkin k- type numbers, uh, just assume 10%. It's actually less than that, but that's, uh, that's simple math. Let's talk about, uh, timing. When is a good time to sell, and how do you figure that out, Jason?

Speaker 4: [11:01] Yeah, so I like my data, and obviously a verbal, like a podcast is a great medium to just throw numbers at you.

Speaker 1: [11:09] Yeah, 'cause you always remember those.

Speaker 4: [11:11] And, and it's just so, like, interesting and engaging, and the cl- and the character development through numbers is just- … ripe for, it's like a Netflix show. I can speak for hours about this, so I'm gonna try to keep it pretty succinct, but basically speaking, the housing market is cyclical, right? Um, there's an annual cycle that we see very clearly in pretty much every number, um, or data set that we see for, for real estate. Generally speaking, in Seattle, in the summer the housing market's hot. In the winter it's not. Um- For people here it's pretty obvious, because in the winter there's, what, like, three… I think we have three minutes of daylight today. We're recording in January. But

Speaker 3: [11:55] yesterday we only had two. Yeah. So we're on the upswing. I

Speaker 4: [11:57] know. Exactly. Like, in a few days we have our first… Or maybe today, I don't know, but, like, we- we're coming up on our first, uh, sunset after 5:00 PM. Yay.

Speaker 3: [12:07] Woo-woo.

Speaker 4: [12:07] I actually did notice this yesterday. Or no, it might have been this morning.

Speaker 3: [12:10] I noticed this morning. Like,

Speaker 4: [12:11] yeah.

Speaker 3: [12:12] Yeah. The

Speaker 4: [12:12] sun was up-

Speaker 3: [12:13] Mm-hmm … Speaker: earlier than I'd really noticed before.

Speaker 4: [12:16] It was also a really… It's a really nice day.

Speaker 1: [12:18] It was,

Speaker 4: [12:18] it was. We're in a room- Nice … with a huge window, and of course the shades are drawn. So whatever, no comment.

Speaker 1: [12:26] We're very

Speaker 4: [12:26] private when we do our podcast.

Speaker 1: [12:28] I think it's

Speaker 2: [12:28] nice outside. Oh, I hear rain. Pretty sure it's raining.

Speaker 4: [12:31] Oh. Yeah.

Speaker 2: [12:31] Oh. It is absolutely raining.

Speaker 4: [12:32] Yes, it is. Sorry, I have headphones on. I'm- … like a good millennial. Anyways, back to timing. So yeah, there's this annual cycle. In the summer it's hot, winter it's cold. There are more buyers in the spring, but there's also more homes to choose from. So keep that in mind. Um, just to throw some numbers at you, in December, for example, we had 380 new listings in Seattle versus almost 1,600 new listings last May. That's four times the amount. Um, that's pretty dramatic. And you see this, you know. If you're a buyer, you have more options. If you're a seller, you stand out more if there's fewer-

Speaker 1: [13:12] Mm-hmm … Speaker 4: properties. So it's this- For instance, I mean, we have a listing right now in West Seattle. There's nothing on the market right now, and we are standing out like a sore thumb. Thankfully, it looks really good, not really that bad. So we're getting multiple offers on that thing today.

Speaker 4: [13:25] Yeah, and right now we're… W- so we're experiencing the annual cycle of it being, kind of, uh, constrained in terms of inventory and options, but it's… There's also potentially another cycle going on, a… like, a heating up of the market going back- I feel it … like, two- Yeah … two years. Mm-hmm. Because, uh, especially last year, it kind of cooled down. We had more, um… At least for buyers, they had more breathing space

Speaker 1: [13:47] and- They had more time to choose … times. Things weren't flying off the market always in a week.

Speaker 4: [13:51] Yep. So in addition to the amount of listings of, uh, versus, uh, with the summer versus the winter, during winter months, we generally see properties sell for or below list price on average, versus the summer months, um, where prices generally sell for slightly above average. So just so you know, for… I averaged out the last four Decembers, so every December for the last four years. Mm-hmm. And properties sold, um, for about 98%- Yeah … of original list price, while in over the last four Mays, it was closer to 102, 103%.

Speaker 1: [14:29] Wow.

Speaker 4: [14:31] That might not sound like a lot, but that slight difference makes a big impact- Mm … on how it feels as a buyer or a seller- For sure … how the market kind of functions. So moral of the story, too long; didn't read. If you are looking to sell and buy at the same time, you might wanna choose the spring. It's kind of a sweet spot where you can get more for your home, um, and you actually still have good amount of options to choose from to buy.

Speaker 1: [14:59] Yeah. You'll have more buyers available, and there's more options to buy, so.

Speaker 4: [15:02] Now, if you wanna get really fancy, you can do, like, this crazy, you know, find a place to live for six months and Mm-hmm … separate the two out, but we're not going there in this podcast. Yeah. That's- Yeah … that's too much.

Speaker 1: [15:13] Yep. All right. Let's talk about things that you should do to prep your home, and there's a lot of these, but, uh, and they… I'm gonna put a caveat on here. You don't always have to do this. It always depends on your home, on the location, what is going on in the market at that exact time. Um, but in general, these are the things you should do. Why don't we go over that real quick, Sarah Kate?

Speaker 2: [15:36] Let's do it. So there are a few basic things that we think about, such as a good, deep clean We like to, if there's crazy colored walls, we like to just get a blank canvas, neutral color.

Speaker 1: [15:51] Mm-hmm.

Speaker 2: [15:51] I think it really helps buyers imagine themselves living in the home when it's a real neutral palette. There are some things such as pressure washing, if you have a patio that has some, you know, staining or moss. Good roof cleaning, if you haven't done that in a good 10 years. Mm-hmm. The, the roof can build up a lot of moss, and getting that off.

Speaker 4: [16:14] We were just at a house, like, what? Five minutes ago.

Speaker 2: [16:16] Yeah.

Speaker 4: [16:17] Yeah. That's a lie, 30 minutes ago.

Speaker 1: [16:18] Yep.

Speaker 4: [16:19] And the back pa- uh, patio, like the

Speaker 2: [16:22] wood deck- Ooh, slippery The

Speaker 4: [16:23] deck … oh, my

Speaker 2: [16:24] God. We were ice skating.

Speaker 1: [16:25] We almost all bit the dust.

Speaker 4: [16:27] It was crazy.

Speaker 1: [16:29] Yeah, we're taking, like- Very dangerous … little tiny baby steps- … the whole time we're on this deck. Oof. Yeah. That was a little scary. Oof, liability. I know, geez. So yeah, pressure washing's a big deal.

Speaker 2: [16:37] I think so, yes. Yeah. Yeah. Uh, curb appeal, so that matters, and that translates through the photos as well- Mm-hmm … uh, for buyers looking online. Um- And you

Speaker 1: [16:45] can often do curb appeal with just landscaping, uh, for so inexpensive. It's

Speaker 2: [16:50] not very much.

Speaker 1: [16:51] And, and it makes such a huge difference.

Speaker 2: [16:53] Yes. Laying some nice chips or

Speaker 1: [16:57] in- Like potato chips? Yeah. I mean, that, that always attracts me.

Speaker 2: [17:01] Same. Same. Yeah, I'll, I'll be at that house stat- … for potato chips on the lawn.

Speaker 1: [17:05] Nachos.

Speaker 2: [17:07] Um, other things like window washing can be a big deal. Staging, professional staging. Mm-hmm. You guys, this is pretty big.

Speaker 1: [17:15] And again, this all depends on the house. Yes. But in general, staging, actually, and I've changed my tune on this over the last three, four years, um, b- I used to not really believe in staging 'cause the market didn't really need it then. But now you kinda do wanna do it, and it does increase value, for sure. It's worth the money that you're spending, if not more.

Speaker 4: [17:34] And to be clear, you might have amazing taste. You might have amazing furniture and stuff, but that's not necessarily what you want when you want to sell the property. Mm-hmm. Because what you want is, like, a, a empty canvas- Mm-hmm … that somebody can imagine themselves living in. And that might mean removing your amazing furniture and putting something that's more neutral or, you know, less specific in it. Yep. Or opening up the space in a certain way. So, you know, it, it's a lot of fun for us as agents to discuss with clients, you know, when we're listing a house, to have this conversation about how great their house might be- Right but, and their taste, but it just doesn't translate necessarily- Yeah … if you wanna get the most money for your property. Mm-hmm. So staging can make a huge difference with that. Yeah. So.

Speaker 2: [18:20] Not all of us are interior designers, and there's certain things that it's just nice to hire professionals for, and that's- Yep I believe one of them. And then professional photos Game changer.

Speaker 1: [18:30] Yeah.

Speaker 2: [18:31] It just attracts so many more buyers and agents to come through and tour and preview. Um, it makes a big difference. And then if your house, you know, calls for it, a nice HD video-

Speaker 1: [18:43] Mm-hmm … Speaker 2: or Matterport, which is kind of a- 3D walkthrough … a 3D walkthrough of the, of the property, which is- Kind of like one of those-

Speaker 2: [18:50] pretty cool … Speaker: Google Street View type- Yeah … Speaker: through a house, which sometimes is good. Oftentimes I don't even see buyers really paying attention to them. I think that it, if it's a big, big house-

Speaker 1: [19:01] Yeah, then maybe. Yeah.

Speaker 2: [19:03] Then maybe, yeah. Then it calls for it.

Speaker 1: [19:04] Yeah.

Speaker 2: [19:05] And this is another thing that's not always applicable, but, um, if the market's calling for it and it's, it's hot and you wanna slap a review date on your listing, I would say having the home vacant for a week, it's a big deal. It allows- Mm-hmm … buyers and agents to freely, um, walk through the property without having to set appointments and such, which sometimes can be a, a barrier.

Speaker 4: [19:27] Can you explain what a review date is, an offer review date?

Speaker 2: [19:30] I will indeed. So there's two different ways to list your home. You can have a what's called review upon receipt, which means that you can submit your offer at any time. There's no date. A marke- a, a review date says, "Hey, one week from the listing date, we're going to ask for all offers to be submitted by a certain time, and we're gonna go over, as a selling agent, with our client, all of these offers, and we're gonna choose one."

Speaker 1: [19:59] So we're not gonna accept an offer earlier- Or later than a specific- This date … date.

Speaker 2: [20:03] Yes.

Speaker 1: [20:03] Yeah. And often it's about a week-ish. Sometimes- Six or seven days normally … I mean, I've seen, I've seen up to two weeks even for some properties if it needs more, uh, time for, for buyers to potentially do their due diligence.

Speaker 2: [20:16] Mm-hmm.

Speaker 1: [20:17] Um,

Speaker 2: [20:17] but- Really dependent on the market as well.

Speaker 1: [20:19] Yeah, exactly.

Speaker 2: [20:20] Like, when things were slowing down during the winter months, we didn't see a lot of review dates. We saw a lot of, um, review upon receipts, so.

Speaker 1: [20:26] Mm-hmm. The m- Which means basically first come, first served for the offer. Mm-hmm. The day it comes on the market, you can give an offer, and the seller can say, "Sure, I'll take that," or, "No, I'm gonna wait. Even though I said I'd look at offers right away- … I might wait, 'cause I don't think this is a good enough offer. I think I'll get more."

Speaker 2: [20:43] Yeah. So those are some, those are some pretty easy basic things that you can do to get your home ready for listening.

Speaker 1: [20:52] Let's talk about some, we teased this earlier, but the best return on investment projects that you can do to your house, Charlotte.

Speaker 3: [21:01] Yeah, so people ask this question every single time.

Speaker 1: [21:04] Yeah. " Speaker 3: What adds value to my house?" Mm-hmm.

Speaker 3: [21:06] Um, so there's a few different things. Uh, in my opinion, I think bathroom and kitchen remodels are, like- They're number one … Speaker: the number one. Yeah, for sure. Yeah.

Speaker 1: [21:12] They always have been, always will be. Yeah.

Speaker 3: [21:14] You

Speaker 2: [21:14] don't even need, like, a big remodel. No. You can do something really simple-

Speaker 3: [21:17] No, you really can … as

Speaker 2: [21:18] adding some really basic backsplash, adding new countertops.

Speaker 3: [21:22] Yeah.

Speaker 2: [21:23] A new stove. I

Speaker 3: [21:23] mean, I even see people, like, in older houses, they'll just, like, put, put the drawers and stuff on tracks and, like- Yeah … paint it a nice color, and, like, you don't even really have to replace it most of the time- Exactly if it's in good condition. You just make it look really nice, um, and it adds- Or you put new

Speaker 1: [21:36] knobs on the han-

Speaker 3: [21:37] Exactly … new handles on a

Speaker 1: [21:38] lot of stuff. That's

Speaker 2: [21:38] a really affordable-

Speaker 3: [21:39] Yeah … Speaker 2: way of upgrading your kitchen, indeed. Exactly. Um, so yeah, those two are kinda the biggest ones, upgrading your energy efficiency- Um, painting, as Sarah Kate mentioned before- Yeah first of

Speaker 2: [21:52] all-

Speaker 3: [21:52] When

Speaker 1: [21:53] upgrading your energy efficiency, what, what do you mean by that? Basically, so sometimes homes will have, like, single-pane windows, and that will stop a lot of buyers from wanting to make an offer, um, because- Also,

Speaker 2: [22:06] your water heater can be- Yeah … 25 years old and- Yeah … Speaker: about to go out.

Speaker 1: [22:09] Exactly, or your furnace is an old oil furnace. Yeah,

Speaker 2: [22:12] that's-

Speaker 1: [22:12] And you have natural gas already at the house, you might as well connect it to the natural gas, um, or add a heat pump, an electric heat pump. Um, there's a lot of things that you can do for energy efficiency. Gotcha.

Speaker 3: [22:24] Um, another big one is refinishing hardwoods- Mm-hmm um, or laying to carpet. Uh, with the older homes, like, they pretty much all had hardwoods, and they're super nice, like oak floors and stuff. Yeah Super valuable, so to get those nice and refinished is- Yeah … definitely-

Speaker 1: [22:38] Sometimes it's as easy as just tearing out the old carpet that's been- Mm-hmm … on top and covering- Yeah up these beautiful- And revealing the

Speaker 2: [22:44] beautiful-

Speaker 1: [22:45] Yeah … Speaker 3: gleaming-ish hardwoods. Yeah. Spend a couple grand after you tear out the carpet, refinish them and- Yeah … make them shine.

Speaker 3: [22:52] People love that.

Speaker 1: [22:53] Yeah.

Speaker 3: [22:53] I know I do.

Speaker 1: [22:54] Yep. Love

Speaker 2: [22:55] hardwoods.

Speaker 3: [22:55] Um, and then curb appeal as well, which Sarah Kate kinda touched on before, but think about replacing the front door, uh, landscaping, fixing up the patio, um, or if there's a deck outside, uh, making sure that that's all nice and-

Speaker 1: [23:10] Not slippery n-

Speaker 3: [23:11] not slippery- Yeah … not rotten. Maybe put a nice little stain on there.

Speaker 2: [23:17] Mm-hmm. It's crazy what slapping some paint on a front door can do. It is crazy.

Speaker 1: [23:20] It

Speaker 2: [23:21] can be an old, decrepit door- Mm-hmm … and if you put some, a nice little pop of color- Yeah … it can really be a game changer. And it's- It's

Speaker 1: [23:28] crazy … Speaker 2: like 50, 100 bucks. Yeah. I mean, you could do DIY, even cheaper. Yeah. Yep, yep. You sand it down, paint it, boom. Yep. You got a new front door. Yeah, and you know, we'd even add staging to this, even though we talked about it earlier, things you should do.

Speaker 2: [23:41] Mm-hmm.

Speaker 1: [23:41] It's a great return on investment. Um, now, we had also teased being able to offer something that we can do for our clients, and that's where a lot of these projects, you can actually not pay for them, not pay for any of this work to be done- Until your property actually closes. So there's no cash out of pocket to, let's say, redo your kitchen or bathrooms, um, to an extent obviously. There is a dollar cap on all this stuff. But you can have up to 12 months of, um, basically deferred cost on these things. And again, you don't have to pay for it until your house actually s- closes. So a lot of people have equity in their home, but they don't have a lot of cash sitting around. So in that situation, this is a perfect prime example of how this can help you get way more money for your home without having to, uh, pay out of pocket.

Speaker 2: [24:39] We're seeing a lot of companies spring up that have noticed this kind of- Opportunity … opportunity in the market, and- Mm-hmm … they are allowing homeowners to up- yeah, update, upgrade, and make their homes more move-in ready and attractive to buyers. Because buyers don't really want to do a lot of projects, I'm finding, Yeah.

Speaker 1: [24:59] Yeah, most

Speaker 2: [24:59] buyers don't … when they move in. Yeah. They really want a turnkey move-in ready home, and um, this makes the seller's home more attractive.

Speaker 1: [25:06] Yep. So that's, uh, that's basically what we got. That's our recap on buying and selling at the same time. If you yourself are contemplating doing this, uh, we are always happy to chat with you. Um, we are absolutely zero pressure, um, always. And if you are interested in chatting with us, you can either just call us, go to our website, awesomenossum.com, or just go and schedule an appointment right on our website, awesomenossum.com/schedule. That is all for today. Thank you everybody for listening, and we will see you next time.

Speaker 3: [25:41] Thank you. Bye.