Subject Property Overview

Strengths (Pros):

• Large square footage with ADU potential

• Two bathrooms and flexible floorplan

• Craftsman style with high ceilings and a designated dining room

• Private outdoor space

• Many updated systems already in place

Challenges (Cons):

• Much of the original Craftsman charm has been removed

• No garage

• Significant lot coverage and not sit on a corner or back to an alley limits appeal for developers

• Cinderblock foundation

• Small, non-conforming bedrooms

Summary of Findings

Based on the comparable properties and overall market context, here are the key takeaways and recommendations:

• Properties that sold to developers were of a very different lot type and layout than this one.

• Most buyers in this price point are now expecting updated kitchens—particularly first-time buyers in Seattle.

• At least 90% of recent comparable homes had newer or fully remodeled kitchens.

• Based on the lot size and configuration, it appears an owner-occupant buyer will likely pay the highest and best price for this property rather than a developer.

• We recommend completing an inspection sooner than later to confirm condition and identify any items that could affect valuation or marketability.

Pricing Strategy & Terms

Recommended list price based on the market if the home if mostly as-is: $550,000–$650,000. An inspection will help us determine if the home is financeable with a conventional loan. That will have a major impact on sales price within this range. We still would encourage light cleaning, landscaping and making the home financeable.

Recommended list price based on the market if the home is updated in accordance with our Listing Prep List: $700,000–$765,000. A financial investment of $46,000-$60,000 will impact the ultimate sales price.

Homes priced to meet buyer expectations are moving. Those that test the market or aim high are being passed over—even if they show well. And the longer a home sits, the more negotiating power shifts to the buyer.

Offer a competitive buyer broker compensation.
All but two of the comparable listings offered 2.5% buyer agent commission. To remain competitive in today’s climate, I strongly recommend offering the same.

Pre-inspection helps keep negotiations clean.
Buyers in this price range appreciate confidence and transparency. Having a pre-inspection gives you the best chance to avoid back-and-forth inspection negotiations after an offer and support a smoother closing.

Final pricing should reflect timing and competition.
We’ll monitor:

1. How the active comparable performs

2. What other listings are live when we go to market

This will help us fine-tune your price and position strategically in real time.

If at any point in time between now and the list date, we see significant market fluctuations or permit and zoning changes, we may advise you to list as-is immediately.

PREPARATION SUGGESTIONS

Focus updates where they matter most.
Paint, updated kitchen, essential repairs, and thoughtful staging will have the biggest visual impact. These elements improve brightness and create emotional appeal that photos and buyers respond to. This will also help reserve funds for any inspection items discovered.

Attached you will find the Prioritized Listing Prep list. This list is a working document meant to give rough ballpark estimates and initial prioritization for preparation items.

Actual costs and priorities may shift as we:

• Receive contractor bids

• Complete inspections

• Uncover additional needs

Please use these figures as a starting point only. Final decisions should be based on verified contractor bids and updated market feedback.

We are not contractors or appraisers; this analysis is for informational purposes to guide strategic decision-making.

NEXT STEPS

1. Have a seller procured inspection

2. Review listing agreement

3. Adjust preparation list

4. Get contractor bids

5. Adjust preparation list….again

6. Finalize timing

SERVICE PROVIDERS

Please verify if the contractors are licensed and bonded. I can help with as much or as little as you need.

Painters
Santiago 425-465-8232
Great guy, best in person or texting…ESL
Also can do drywall, clean carpets, and is a general handyperson and light contractor. I don’t know if I would give him difficult carpentry jobs or things that require troubleshooting.

Lieu’s painting 206-227-723
Best with texting as he is ESL

Vince, Foreverlast Painting 206-661-3024
Super easy to work and communicate with.

Counters
Both vendors are used to working with contractors and brokers, so they aren’t the easiest to deal with. Both will need a plumber to install all the plumbing. I am happy to take the lead.

G&S cabinets https://gskitchenandbath.com
You have to measure and then take the measurements to them in Sodo. They have sinks too

Victor 425-330-7623
He just did a double vanity for $1500. You need to go pick out the stone from the options he gives and tell him what sinks you have and the measurement of the sinks so he can cut the holes.

Exterior Cleaning

AllPro Cleaning https://allproservicesran.com
(425) 746-4829

Mitchell Brasch, Glass Masters Window Cleaning
(206) 629-6118

Interior Cleaners

Yusbi 206-387-7118 (I need to make sure she will travel that far)

Asiah 425-327-7793 (works in the north end)