Looking at Sequim homes is a lot of fun, and perhaps that accounts for why I so thoroughly enjoy showing my clients Sequim homes, as well as Port Angeles homes, and also periodically Port Ludlow homes.  In showing clients hundreds of Sequim homes over the last 18 years, I have found a recurring reason why some homes don’t sell, which is another way of saying why buyers don’t like certain homes.

Sequim Homes Built by Retirees

Yesterday I showed a home that was listed as a Sequim home with a water view.  In fact, there was a certain water view that could be seen while standing on the property, but there was no water view at all from the house itself.  The house was built perpendicular to the Strait of Juan de Fuca with the living room and dining room looking east and west.  This means the home has absolutely no view of the water to the north.  Not only was the house positioned on the property in the worst possible way taking no advantage of the water view at all, there was not one window on the north end of the house on either the first or second floors.  I kid you not.  The north wall of the house had no windows at all.  And yet there was a beautiful northern view, including water in the distance.  Sequim homes without a water view?

Sequim Homes – Site Planning

The mistake the builder of this home made is clear, but at the time they built the home and did the site plan (the exact location and positioning of the home on the lot), the retired owners did not know that one day they would want to sell their home, and that it would not sell because they positioned it wrong.  It has been on the market for almost two years and has not sold.  Sequim homes that have been on the market for two years or longer certainly must have a serious buyer disadvantage.

Sequim Homes – When Building Consult With a Realtor

What could retirees do to save themselves from the nightmare of not being able to sell their Sequim homes some day?  Builders are not always the best advisers for the kind of floor plan or the site planning in order to make a house sellable.  Builders build homes, and they are focused on that task, not the marketability of the home years later.  Here’s wise advice.  Before you build a home, buy an experienced Realtor breakfast and take him out to the lot for advice on the house’s location and view, and show him the proposed floor plan.  Most retirees are not planning to sell their Sequim homes soon, but we all sell someday (or our children will).

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Flying to Washington state to look at Sequim homes is an exciting event I know.  My hope is that I can give you valuable free information on this Sequim real estate blog that will make your trip to look at Sequim homes more productive and very enjoyable.  Whether you decide to buy a home or not, Sequim welcomes you.

A Trip to See Sequim Homes

Heading Toward Sequim Homes

Flying to SeaTac is not a bad flight from just about anywhere in the U.S.  A two to three hour flight covers most of the country, and the drive from SeaTac to Sequim is two hours or more if you stop to eat.  I’ll tell you where I eat when I fly in and out of SeaTac.  Instead of getting caught in the busy I-5 traffic congestion, I prefer to stop halfway between SeaTac and Sequim in Silverdale.  There are several nice restaurants in Silverdale, including my favorite (and my daughter’s favorite), The Olive Garden.  There’s also a Red Robin, an Applebees, Silver City Restaurant and Brewery, and more Silverdale Restaurants.

Preparing to Look at Sequim Homes

I won’t list all the resources available on this site and through my many other sites.  I’ve done that elsewhere, but perhaps the best way to learn about them is to simply search this site and the links in the right hand column.  I made it my goal years ago to provide retirees moving to Sequim more free online Sequim real estate resources than any other broker by an order of magnitude, and I achieved that goal, although I’m far from done.  The resources are all online.  Your mission, should you choose to accept it, is to find all these resources I created and effectively use them to do your due diligence and find your perfect retirement home among all the Sequim homes listed for sale.  There are over 1,000 articles on this blog alone written specifically to help buyers like you on almost every aspect of buying a home in Sequim.

Enjoy Your Sequim Tour

If there is anything in advance you would like to know about Sequim or Sequim homes before you arrive, please don’t hesitate to call on me by email or phone, 360-775-5424.  And while you are here, if you would like to visit over a cup of coffee, I would thoroughly enjoy meeting you and answering your questions or just chatting about what it’s like living in Sequim.  My hope is that your search of Sequim homes will be fruitful.

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How are Sequim homes selling as winter sets in?  Here we are going into the winter holidays starting with Thanksgiving tomorrow and then Christmas.  This is typically a slower selling season for Sequim homes and everywhere around the country as people spend time with family and settle in for the winter where they currently live.  I’ve put together some data and charted it here for your information and amusement.

Sequim Homes Sold Each Month in 2011

It’s no surprise that the total Sequim homes sold in November are only 8 (with 3 business days left in the month).  As I wrote earlier in the year, we did see a spike in sales activity in May, June, July, August, September, and October, and this is shown in the chart on the blue bars.  November drops dramatically, but this is to be expected.  While November sales drop compared to earlier months in this year, that raises the question, “How do Sequim homes sold this November compare with prior years’ sales in November?”

Sequim Homes Sold Each November Since 2004

Our peak year in homes sold in November was 2006 when 34 homes closed.  Of course, the offers were actually made in the prior month(s) as it typically takes 30 to 45 days to close.  This year’s November sales of 8 homes is the smallest number of homes sold in many years.  Part of the reason may be that buyers pulled the trigger in the summer and fall months, and the next round of buyers will be coming in the spring months. 

Sequim Homes Sold

Examining the market and Sequim homes sold is helpful in understanding the bigger market picture, but we should not conclude that there are no buyers for sellers.  There will be buyers closing on houses during December, January, and February.  Although the numbers are smaller, no seller wants to miss that one buyer that might come along during the winter months.  Sequim homes are selling even if in smaller numbers this winter.

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Why would retirees buy Sequim homes before they even move to Sequim?  Is this really happening?  Yes it is.  I’ve sold four homes recently to clients I represented as a buyer’s agent, and they will not be moving to Sequim for one to two years.  Are they going to rent their new homes to tenants?  Absolutely not.  Why would they buy homes before they even move to Sequim?  Here is their reasoning. 

Sequim Homes Selling to Retirees Early

“Why are we looking at Sequim homes two years before we move here?  Because we think that if we wait two years when we are both retired, several things will happen.  Interest rates are going to go up for sure.  And we have noticed that the homes we really like on the MLS are selling, so the home we want may not be available in two years because it will have sold to someone else.  And we think prices are pretty much at a bottom or somewhere near the bottom.  But even if prices are not at the absolute bottom, we are buying our retirement home to live in it the rest of our lives.  This is a 20 plus year investment for us, not a short term investment.”

My commentary on this is that I totally agree, and I’ve written articles about these very issues, which admittedly these clients have read.  But they also did their own due diligence, are very intelligent, and drew their own conclusions about their financial future and their retirement plans to look at Sequim homes and the timing to buy one.

Sequim Homes – Timing is Everything

Another couple said, “We planned to retire in Sequim in about one year, but we decided to buy now, primarily because we think we think we can do much better buying now than waiting a year, but also because we have the funds and do not feel comfortable parking our money anywhere else.  We don’t feel at all comfortable with the stock market, and our financial adviser seems to use a dart board to make investment decisions with our life savings, and even though we get barraged by T.V. commercials to buy gold, we think gold has probably already peaked and we are not interested in gambling with our retirement funds.  A home in Sequim, which we plan to buy anyway, seems like the safest place to park our money right now.”

Another couple said, “We haven’t sold our home in Illinois yet, but we have decided to move to Sequim, and we have the funds to close now with a small loan.  We think it’s wiser to buy and close now than to wait another year or two.  We’re not interested in renting, so we will support two homes for a while, but we can do that, and we’re more comfortable with that than any of our other options.”

This is why retirees are buying Sequim homes now even though some of them are not planning to make the final move for one or two years.

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Sequim homes are selling, and here’s an example of a beautiful 3 bedroom, 2 bath 2,400 square foot home on 1.5 acres on the west side of Sequim above the John Wayne Marina that just sold.  There’s much more to this home than meets the eye here.  The buyers intend to remodel the kitchen to bring it up to date, but the house is built with the best materials and construction design, the floor plan is great and the property and location are incredible.  The selling price was $350,000.

Sequim Homes in Rural Setting

Sequim Homes Like This Not Common

Sequim homes like this are not as common as you might think.  This home is about three miles from Sequim, so it is close to shopping and restaurants.  John Wayne Marina is a short drive down the hill and across the street (West Sequim Bay), and the Discovery Trail is a short walk just to the north of this home.  The Dockside Grill restaurant is close by, and is a very classy restaurant at the Marina.  You can see the dinner menu and make reservations at the Dockside Grill.

Sequim Homes Sold on a Private Contract

Most Sequim homes are sold with bank financing, although many retirees put down 20% or more to get rid of the private mortgage insurance to keep their monthly payment down.  A substantial number of retirees put down 50% or pay all cash.  Once in a great while we have the rare case where a seller owns the property free and clear and decides it makes financial sense to sell it to the buyer on a private contract.  That’s how this home was sold by yours truly.  If you’d like to know more about how this works, call me at 360-775-5424. 

Sequim homes are selling well in these busy summer months.

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I get questions about buying Sequim homes all the time, but a new question that is coming up after years of being dormant is this one, “Are there any Sequim homes for sale that I could rent with an option to purchase?”  Clearly the reason it is coming up recently is because mortgages are not a dime a dozen anymore, and buyers have to qualify financially with a larger down payment in most cases.  But there’s a history behind the lease-option.

Sequim Homes and the Lease-Option

A lease-option gives a tenant the right to purchase a home at a certain price and under defined terms.  When I drafted these, I created three documents:  a rental agreement, an option agreement, and a purchase and sale agreement.  They each referenced each other, and I would record the option so the tenant was protected until he exercised his option, if he did.

Sequim Homes in the 1960′s

In the 1960′s and 70′s lease-options were used periodically around the country, including for Sequim homes, and many sellers who invested in real estate, including some small builders, used their own lease-options (and private notes and deeds of trust) to manage their retirement portfolios.  Lease-options became a very popular tool for real estate investors, and big names like Dave Delgato and others who traveled the country teaching their real estate investing seminars on how to get rich quick, had entire programs on lease-options.  The Olympic Peninsula was a little off the radar in the 60′s and 70′s, so few Sequim homes got on that band wagon.

Lease-options made some sense when the market was hot and many buyers didn’t have the down payment required (this was when down payments were actually required), and interest rates were high, which made qualifying even harder.  If you’re old enough, you might remember 18% interest rates for a short time.

Sequim Homes for Sale or Rent

In the 80′s and 90′s interest rates were low and anyone could buy a home, almost.  This negated the need for private lease-options, and it also negated the need for sellers to carry private notes (seller contracts).  Now it is harder for younger couples to get loans, and even though interest rates remain low for now, young couples are beginning to ask again, “Are there any Sequim homes for sale that I could rent with an option to purchase?”

The answer is no.  While buyers have expressed their desire to do lease-options, sellers aren’t taking the bait, at least not yet.  Sellers want to sell their homes and get out from under their debt, and many sellers are upside down, so their options are limited.  Sequim homes are for sale or for rent, but not both.

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