I have been fielding these two questions since February 19th of this year.  And, no one said it better than the article in the Seattle times, “More buyers celebrating life in a co-op“, by Abraham Aboraya.  By chance, this is even the co-op where my listing is – the beautifully spacious and mid-century modern Melrose Terrace Cooperative, at 308 E Republican St. Unit 112, if you would like to look it up.

Cooperatives look and live just like a condominium.  The difference?  In a condo, you actually own and take title to the unit itself.  In a cooperative, you own shares in the corporation. 

Financing used to be a bear – until now.  In the old days, (two weeks ago), you needed ten percent down to buy a co-op.  Currently, through the National Coop Bank, NCB, if your credit score is 700 or higher, you only need five percent down.  That’s right, FIVE percent.  Not that much higher than an FHA loan.  And let me remind you, co-ops are less expensive.  The Times article says that co-ops range in price from $109,500 to $429,000, with a median of $199,500.  Condos, on the other hand, range in price from $115,000 to $3 million, with a median of $300,000.  Quite a difference, huh!  And, for the same product!

This super cute co-op is 732 sf, has a view of the iconic Space Needle, Olympic Mountains, downtown Seattle, and Lake Union.  The unit has one large bedroom, a dining room, a swanky built-in cocktail bar, and a truly efficient kitchen.  Bus stop is one block away.  Storage, parking, a spot on the terrace, what else do you need? 

If you are looking for a condo, and were told that co-ops were hard to finance and not an option, think again.  This might be the way to get you out of that cramped, little apartment and into your very own place for not that much more money than what you are paying right now.

The reality is, if you want to sell your house in this competitive and over supplied market, then, well, yes.  I promise you, it does not have to be difficult.  And, you might even like it. 

Step one – we bring in our stager.  He will go through the house with all of us, and make suggestions on what furniture and items should be packed away, and what should stay.  This is very important.  There is a delicate balance between delightfully lived in and crowded.  Buyers respond better to properties that show how a property is lived in, but does not overwhelm with personal items.  The buyer needs to see how the space can be used, but also needs to be able to visualize their things in the house.

If the house is empty, even more important to stage.  Otherwise, the online photos will look blank. 

Step two – color consultation!  If you love bright colors and are awash in plaid, frills, florals, zebras, knick knacks, bric-a-brac, or any of the sort, we need to talk.  I myself am a great lover of pink and zebra print.  Ask my husband, or visit the house.  But for you, oh motivated home seller, we need to appeal to a wider range of people.  So, please do not be offended that we ask that your gnome collection on the mantle take a vacation, or that the dining room that is purple and green get toned down to a more restful French Canvas palette.  Truly, this is only for the sale.

Step three – implementation!  By chance, this is a fantastic opportunity for you to go through your stuff, and perhaps find some things that can be donated, recycled, repurposed, and reused by others.  This is one of my personal favorite ways to be eco-friendly, finding others to use. 

For the vacant house, staging will bring life to the space, and give buyers just enough of an idea of what the space can look like.

Eco friendly and common sense advice from the Smart HomeOwners Team.

1. Are you licensed with the state?
   This is a new requirement for home inspectors, beginning September 1^st of 2009.  All home inspectors in Washington state must be licensed. 
2. What does your inspection cover?
   For houses, townhomes, and multi-family buildings, your inspection should cover the exterior of the building, siding, windows, roof, and foundation.  The inspector may inspect any outbuildings, such as garages, studios, and any other structure on the property.  The interior inspection should cover plumbing, electrical, heating and cooling systems, appliances, and structural elements.  I like to see inspectors with moisture meters to check for water intrusion behind walls and under tile as well. 
3. How long have you been in the business?
   I would suggest asking how many homes per year along with how many years the inspector has been in the business. 
4. How long will it take?
   An inspection for a single family house should take between two to three hours.  A condominium inspection will take somewhere between one to two hours.             
5. How much will it cost?
   An inspection for a single family house or townhouse should cost somewhere between three and five hundred dollars.  Condominiums will be less.  Some inspectors will base their rate on the square footage of the home.
6. What kind of report will I get, and when will I receive it?
   I like to see inspectors that do their reports electronically.  The best inspection reports will have photos of any items in question, with a detailed explanation, along with a suggested remedy.  I like the electronic reports because then the inspector can email them to both the client and the agent right away.

I have heard a lot of inspectors say that a buyer should not trust the inspector that the agent recommends.  I think that if you cannot trust your agent, you should not be working with that person.  Choose wisely, on both counts.  A good inspection will save you money during the purchase, and also save you money during the time you own the house. 

Happy house hunting!