Home Buying & Selling FAQ: Thurston County & South Sound

Alan and Jana Sherwood here—your trusted local guides to the Northwest real estate market! Dive into friendly advice, actionable answers, and the latest strategies to find or sell your home faster with the most knowledgeable agents in town. These are the most frequently asked questions we hear from buyers and sellers across Olympia, Lacey, Yelm, and communities near JBLM.

SELLERS

"How Much Is My Home Worth?"

Your home's value in places like Yelm or Tumwater relies on recent sales, upgrades, location, and current demand. Don't rely on an online algorithm/calculator to help you give guidance on your most expensive and important asset - get a professional valuation from us, Alan and Jana Sherwood. We are local experts and can give you a true picture of the market and value. Every city, town and neighborhood is unique just like your house and circumstances. We can give you all the data and information you need to feel confident in your next move.

"What Are Seller Closing Costs in Washington State?"

Seller closing costs are typically between 7-10% of the sales price. It does vary though. Some items that are or may be included are:

• Transfer Taxes/Real Estate Excise Tax (REET)
• Title fees
• Escrow fees
• Recording fees
• Notary fees
• HOA transfer fees & prorated dues
• Buyer closing costs paid for by seller
• Prorated property taxes
• Lien-able utility payoff
• Any liens or lien-able work that was done to the property
• Typically the seller pays for the septic to be pumped & inspected
• Mortgage Payoff would also be included

We can provide a Net Seller's Sheet for you to give you a line-by-line estimate on what you can expect to pay in closing fees if you sell your house. This is a common question and common form we utilize to assist our sellers and we would be happy to assist you too!

"How Fast Are Homes Selling?"

In Thurston County, homes are selling on average in 43 days.
In Yelm, homes are selling on average 58 days.
In Olympia, homes are selling on average 32 days.
In Lacey, homes are selling on average 26 days.
In Centralia, homes are selling on average of 141 days.
In Chehalis, homes are selling on average 55 days.
In Winlock, homes are selling on average 49 days.
In Packwood, homes are selling on average of 47 days.
In Shelton, homes are selling on average 53 days.
In Roy, homes are selling on average 41 days.
In Eatonville, homes are selling on average 28 days.
In Graham, homes are selling on average 37 days.
In Orting, homes are selling on average 41 days.
In Spanaway, homes are selling on average 40 days.
In Western Washington, homes are selling on average 50 days.

"Top Real Estate Agents in Olympia, Yelm, Lacey?"

Alan and Jana Sherwood have been top agents since 2014. We are a husband and wife real estate team who are born and raised in the Pacific Northwest and we have a love for helping home buyers and home sellers achieve their goals. From getting your home ready to hit the market, to staging and handling hard negotiations, we are ready to help!

"Who Sets the List Price"

The seller sets the list price at the end of the day. We are local real estate professionals and provide data and market trends, but the seller is the client and calls the shots.
Note: A real estate professional has no control over what the market is doing, only how well we can market the home. This is why we spend so much time, energy and marketing dollars on marketing your home to the best of our ability.
Never select a real estate agent based on the price they are willing to list your home.

"I Need a Real Estate Agent Who is Familiar with Estate Sales."

We have assisted many families over the years with their estate sales and are well versed in the process. Many of the families are out of state and we go above and beyond to make sure they are taken care of. Need help with title issues, inspections, checking in on the property, junk removal or contractor recommendations? We can handle all of that.

We will also provide you with a CMA (comparative market analysis) for the date of death for tax purposes so you can save about $1,000 on an appraisal. This is often an overlooked piece of the process until it's tax time, so we ensure you have it well before you need it to make the process smoother for you.

"Should I Accept the First Offer on My House?"

Not always. It's exciting to get an offer right away, but accepting too quickly could mean missing out on higher offers and better terms. Buyers have jobs and schedules. Some of your highest quality buyers may not be able to see your house the moment it hits the market. We usually recommend giving it at least the weekend so more buyers can come see your home, fall in love with it, and put their best offer in. Watch our video on why selling your home in 1 day isn't always in your best interest.

BUYERS

"Is Now a Good Time to Buy a House?"

Buying in our region right now depends on your needs and finances. Inventory in the Olympia, Yelm, Lacey and beyond areas is higher than it has been in years which is great for buyers to find their perfect home without the rush that was needed during the pandemic. Buyers are more often than not getting their closing costs covered and with a trusted agent negotiating on your behalf, getting you below asking and having the sellers handle needed repairs during the inspection period.

"What Credit Score Do I Need to Buy a House?"

Generally, lenders look for scores above 620; higher scores open doors to better rates and easier approvals. BUT this is a tricky question due to the fact that every loan program is different and lenders can also require different scores as well. We have seen those with less than 620 get approved before!
If you're buying in the Pacific Northwest, we can recommend a fantastic local lender who can get you not only great rates, but low closing costs.

"Can a Real Estate Agent Help Raise My Credit Score?"

Short answer: Absolutely we can help with your credit score! We have worked with the same lender for almost a decade and he has a knack for helping people increase their scores to get better rates. Even if you have a great score already, he can give you tips and "tricks" to help boost it even higher. And it's not always what you think!

"How Do Interest Rates Affect Home Buying?"

Interest rates have a direct affect on how much of a mortgage payment/home price you can get approved for. If interest rates rise, your buying power decreases. If interest rates go down, your buying power increases meaning you can buy a better home.

"How Much Should I Save for a Down Payment?"

This varies widely, but the general rule of thumb is 3-20% down. But there are loan programs such as Veterans utilizing their much deserved benefit of a 0 down home loan, USDA 0 down loan or home buying programs that bring the down payment down as well.

Washington State also offers official homebuyer education and down payment assistance programs through the Washington State Housing Finance Commission: https://www.wshfc.org

"How Much Are Buyer Closing Costs?"

In the Pacific Northwest, expect 2-4% of the sales price. This number can vary greatly depending on a number of factors:

• Property Taxes
• Home Owners Insurance
• HOA Transfer Fees & Prorated Dues
• Interest Rate Buydowns
• Underwriting Fees
• Recording Fees
• Notary Fees
• Escrow Fees
• Appraisal
• Home inspection