ARDELL's Seattle Area Real Estate Blog

When House For Sale gets angry at House SOLD

2008-07-26T12:38:12Z

In my travels of the last 24 hours, I have noticed a lot of people who have been trying to sell their homes since April or so, getting very angry at those who have SOLD very quickly.

"Of course THEY sold their home...they GAVE IT AWAY!!!

These are the days, the important days that say "will you sell before November?" when owners decide IF they are going to sell their homes, stay in them, or rent them out. Those who truly are selling vs. listing need to "get real" and realize that if no one has bought it since April...holding out for your price may not be the way to go.

The SOLD prices are all that matters, and to BE SOLD, you have to stop being angry and start getting real. Personally, I don't think taking it off market in November and bringing it back next April is going to give you a better result than selling it today. I don't think home prices are weak short term, and coming back by next Spring here in the Seattle Area. My $.02...YMMV,

Inman Connect - San Francisco - Part 3

2008-07-22T11:15:33Z

Packing the laptop. Almost forwarded my email to Gmail instead, but Kim talked me into bringing it so I can blog from Connect.

On my can't wait to meet or see again list:

David G. Zillow - I can't get enough of him.

Todd Carpenter - I feel like a Princess in his Presence

Jonathan Miller - Matrix - want to compare notes on "Larry" in person

Saul Klein - some unfinished business and a latte - something stronger

Active Bob Stewart - MAJOR HUGS!!!

Dez Daniels - cause everyone loves Desiree

Glenn Kelman if he's coming - he's been so busy we haven't seen him since last year!

Frank Llosa of Frankly - I'll bet he's a piece of work!

Kris Berg - I want to box her at the Trulia Party

Rudy and Joe!!! Nuff Said!!!

Kevin Boer - he grows on you until he's under your skin and you miss him

Pat Kitano - but you have to listen closely - he speaks softly - not like TLW's ROAR! I so wish TLW and BB were going :(

Missy Caulk - cause it may be the first and last time...just a gut feeling and just in case.

Of course my RCG buds Galen, Rhonda, Dustin, Dustin and Dustin.

and Numero Uno - KEVIN TOMLINSON!!!!!!!!!!!!!!

Many more...I'm sure. Hundreds even.

Almost time to leave for the airport...I'm STOKED!!!

Inman Bloggers Connect - Part 2

2008-07-21T22:28:09Z

When you are going on a long trip, you expect to get your nails done mid-stream. Or...if I'm going to L.A., well you just get your pedicure and nails done as soon as you arrive. But when you are going to be sitting in a conference for days with no time for touch ups...

You have to break out the Sally Hansen NO CHIP 10 day Nail Color. We only need it to be half as true as its name...but just to be sure, choose a light color like this one "Infinite Natural" so chips aren't as noticeable. Plus I have one broken nail...and everyone is less likely to notice if I don't paint them bright coral like last year when they were perfecto.

Muscular Man Putting On Red Nail Polish Video

Is the Housing Market Stabilizing?

2008-07-21T17:22:34Z

If wishes were horses, beggars would ride, and wishing the market to be better is not providing a good and valued service to your clients.

I wrote a blog post today about where I think the market is...and where it is heading, but not with wishful thinking...but cold-hard facts and a bit of projection regarding some red flags I am seeing.

Seattle is quite different from most parts of the Country, in that our cup is 95% full as to price and half empty as to volume.

But I do urge those who shell out advices day in and day out regarding good time to sell and good time to buy, to study their own market in depth before offering advices. Or look for currently relevant and local forecasts to back your answers with.

Inman Connect - San Francisco - Part 1

2008-07-21T17:04:01Z

Well, it's almost time to leave for Inman Connect in San Francisco. Not much left to do but pack...except...choose the mascara. Last year I went with Triple X mascara for 3X the lashes! But...new year...new mascara.

So what's my choice of mascara for Inman Connect San Francisco 2008?

First we ask the people who need to look as good as possible:

Then we balance that with a consumer opinion.

That's my choice for Blogger's Connect 2008, though no one will ever convince me that these ladies didn't also use fake lashes :) I'm not going that route. My luck the thing would fall in my eye while I'm talking into a Flip Video or while they are filming my panel presentation "How not to get Sued as a Blogger" or whatever it's called.

Which color of green should I paint the walls?

2008-07-19T13:08:29Z

I received this question in my email this morning in response to a post on my "other blog".

"hi.. i found you somehow and need help please!! i would like to paint my front room a green, I think. Everyone seems to like the restoration hardware silver sage.. what do you think? Is it too grey? Would the Sherwin Williams sea salt be better? I would like a nice tone.. not too grey or green. I am usually pretty traditional..pottery barn style.

My front room has a deep forest green leather sofa and two matching traditional bombay wing back herringbone plaid chairs and bown bookcase with light brown carpet. The end table is heavy circle and brown wood. Any ideas on paint color? Very large front window.. so i get good light.. thank you"

I underlined and emphasized the furniture issues, deep forest green leather sofa and plaid herringbone chairs.

Let's assume that the sofa is this color of green leather.

Or a little deeper green like the one above.

And the herringbone plaid chairs a bit busier as below.

This is a hard question to answer, as I am an agent and not a "decorator". For staging a home I would not use a green wall with a green sofa and plaid chairs. In fact the main reason I would use a color would be to highlight an architectural feature of a home such as a high cathedral or vaulted ceiling, and not to blend furnishings, which change from owner to owner.

When you have a green leather sofa, I would avoid green in the room, especially paint on the walls. Mixing green tones in a room is dangerous! You have to match the tone of the sofa, and that is not easy to do, nor is it necessarily going to give you the desired result! Plus the wall color has to blend room to room, and matching the sofa tone and trying to carry that color theme through the home is not likely going to work out well from an "entire home" perspective.

Can you see other rooms from this room? Rarely do I do a color on the wall unless the furniture patterns are quite neutral. A brown leather sofa would lend itself better to a green wall behind, then a green leather sofa. Herringbone plaind wingchairs are usually better suited to a background in the most neutral tone in the plaid, and not green at all.

I would be more inclined to use a color like Oak Ridge with a deep green leather sofa to play up the warm tones of the herringbone chair, without clashing with the green sofa tone. For selling a house, the neutral wall would lend itself better to a new owner's furniture as well.

Another option that is both green AND neutral would be a popular Sherwin Williams "green" called "Guilford Green" which is the second color chip on the right. This brings just a bit of green without feeling like you are in "The GREEN ROOM" in the White House. Only the White House can get away with rooms being completely different in color throughout. I've never seein a home that can truly carry separate rooms of dramatically different color themes as The BLUE Room and the The Green Room. Only The White House seems to be able to get away with that.

I think Guildford Green is about as green as you want to go with a green sofa. "Van Allen Green" is another good choice, and possibly the better choice, depending on what colors are in the Herringbone Plain Wing Chairs.

Those would be my choices as they are not too green, just a hint of green, and not grey either. But I am assuming that there are tan or brown or rust tones in the herringbone chair.

If the questioner would email me a photo of the room as is and a close up of the plaid in the chair, I would be happy to take another shot at it :)

Before and After Staging Contest Photos

2008-07-19T00:59:58Z

Another Entry for Realty U's "I Staged It" Photo contest.

This room has two before and after photos taken from both sides of the room. The BEFORE photos were the photos from the mls from when I bought the property. The AFTER photos are how they will appear in the mls now that I am going to sell it. I have lived here three years.

BEFORE

AFTER

BEFORE

AFTER

I painted the triangle at the ceiling to highlight the height of the room and I painted the furthest wall back to create depth. I always had the piano in the reverse position and it was actually Andy's idea for me to have it facing people as the entered the front door.

As I look at these, it's hard to believe it's the same house. I'm sure a few people will like it better in the BEFORE photos :)

Realty U's Before and After Photo Contest - With PRIZES!

2008-07-18T22:44:45Z

My good friend Andy Capelluto asked me to enter Realty U's "I Staged It" Photo contest. So I have to submit lots of entries. I'm a real estate agent and not a stager, but I did attend Barb Schwarz ASP Class, which was a blast, and do help clients get their properties ready for sale. This happens to be my own house the way it was in the mls when I bought it (before) and the way it is now prepared for market (after)

This room is part of "the great room" at the rear of the house. The previous owner had a table in this huge room. We usually have two sofas in an L, but for showing and photos for selling, I've removed one of the sofas and rearranged it.

BEFORE

We painted the walls a very light turquoise blue so the millwork around the windows would pop better. We blocked the door to the deck with the big screen TV as there is a second door in the same position to the right of that big window. Two doors were unnecessary. We also removed the "granny" light fixture and replaced it with a more modern one. And we removed the vertical blinds and replaced them with mini blinds.

Here's the result AFTER

Tune in to NAR's Chief Economist at 5 p.m PST Today!!!

2008-07-17T14:01:38Z

I don't usually "plug" things that are going on around the Blogosphere, but Dustin Luther is hosting a call in show today (or questions by chat room) with Lawrence Yun, NAR's Chief Economist. That's 8 p.m. for those of you on the East Coast. The in the middle people will have to figure out the time :).

Take a minute to get familiar with how to call in to speak or to just listen in. I've never gone into the chat portion, but the calling in is really very simple.

The questions addressed to Yun will come from both agents and consumers, as well as lenders, etc... It's definitely a show you don't want to miss!

Lot is 3X bigger does not "value out"

2008-07-17T12:29:45Z

Recently on Rain City Guide, a local area resident asked why we don't first add an additional 2X the land value and then value the structure value, when coming up with a listing or offer price.

In the post itself, I explained the 10% rule for extras, including extra land. That rule being that when you pull the nearby comps and value the property based on it being a "normal" sized lot for the neighborhhood, you can only add 10% of that value to the total to account for extra lot size, a pool, a tennis court and any other extras that don't value out such as additional square footage of the home, an addtional garage, bedroom or bathroom, etc.

Earlier today I tested my theory using a local neighborhood with wide variances between the lot sizes that replicate the 3X land question and also addressing whether or not the land is taxed on a price per square foot basis, or deemed an "extra" of little to no value by the tax assessor.

Turned out that the assessor gave even less value to the extra lot square footage than the market. The market allows 10%. The tax assessor gave little or no value to the extra land. See data and details in comment #35 of the above linked post.

I see that the resident who raised the question has come back in comment #36. I'll head back and see how he liked the proofs to my theory.

Stained-glass Stairway Landing - Kirkland is an Art Town

2008-07-17T09:54:10Z

Kirkland, Washington is a City known for many thngs, but two of its biggest claims to fame are that it is a City built on a Lake and it is known for its many Art Stores.

The stained glass "window of vases" on the stairway landing of my home are not part of the window, They are free standing separate pieces that can be re-arranged. The stairway window art was made by my sister Loretta, she was creating the effect of vases on a shelf. The Mondrian paintings to the right were done by me. To the left you see a hint of the colored glass pieces that decorate the home.

The original house, built in 1921 had no second floor and no stairway up and this feature was added, along with the 750 sf master suite, in 1994 by the previous owner.

As I continue to prepare the house for market, I will be sorting and collecting photos in posts here on Active Rain. I'm hoping to re-take that front shot in the next day or earlier in the day whenthe sun is on he front of the house.

The two posts below this have additional photos and I hope to have several more by end of day.

See the two posts below for additional interior photos. I have to do the kitchen, Dining Room, Music Room, Master Suite including excercise room with a view, the additional bedrooms and baths and the lower level living space.

...and my office. Forgot about my office. That's going to take some cleanup! Though I did repaint it a couple of months ago as the first step in getting the house ready. It will take a well to get all thepapers organized, here's a photo taken from my office one evening as the sun was setting. Gathering photos that you have taken over time is part of pulling everything together before uploading the listing in the mls.

Sometimes a photo taken in the past at an opportune moment is better than one you can take in the few days before putting your home on market.

My Claws are Green and my Balls are Blue

2008-07-16T22:29:51Z

I'm starting to get the photos ready for listing my property right after I get back from Inman Blogger's Connect in San Francisco.

I know you all know I'm a bit odd and eclectic. It's a big decision not to neutralize everything in my house, but since I've painted the furniture to match the house...well I'm sure it's a stager's nightmare, but it is what it is.

I have always loved ball and claw furniture and have had many traditional pieces in my younger years. Back in Philadelphia everyone knew what Queen Anne vs. Chippendale and Ball and Claw were. But on the West Coast no one noticed my balls and claws...well now they do. The claw looks like the Grinch and the ball looks like the Grinch has got the world in his grasp.

Here are a few of the photos I'm preparing for the mls below. Of course the one above is just for you :)

When I first moved in no one seemed to notice the high cathedral ceiling, so I painted it turquoise. When someone doesn't notice something that I want them to notice, I find a way to call it to their attention. Luckily Kim's a good sport and lets me do whatever I want. My ex-husband of 20 years would NEVER have let me do this. I'll have to send him a link to this post.

I'm using this post to test some of my photos. The rugs won't be cleaned until I'm off at Inman, so the stain behind that sofa will be gone before it goes on market. I'm just testing the angle of the photos, etc...

This is the view of Lake Washington from my bedroom. I am going to miss waking up to that every morning. The tall buildings across the Lake are the Seattle City Skyline. From my kitchen window I can see the Space Needle out in the distance.

Below is the shot from the back of the house. I decided to retake the front shot earlier in the day as the sun had moved to the back by the time I took these photos today. And I have to move the recylce bins :)

It's a "Street to Alley" lot so the garage is in the rear.

My home is in Kirkland WA and I keep wavering between listing it at $949,950 and $975,000. Today Zillow says it is valued at $986,400 :) One day it was $1,080,000, but when I woke up I lost $160,000. It's heading back up so I better hurry up and list it before Zillow has another bad day.

Buying and Selling Real Estate in 2008

2008-07-13T11:41:43Z

Generally speaking, I have been a strong proponent for Do It Yourself Real Estate at times, more times than most agents. But I have to say I'm doing a complete about face in 2008. It's a really bad time to not have someone assist you in navigating through the process of buying or selling real estate, and having an agent vs. not having an agent can clearly make the difference between a soft and hard landing.

I love the visual of the guy in front being the person looking at property to buy, or a seller trying to figure out how to sell their home in this market.

NO MATTER HOW MUCH YOU KNOW, and you clearly may know a whole lot, you can't possibly have enough volume of info in your everyday experience to match the knowledge of a professional in this market. Honestly, even the best of us are having trouble trying to stay on top of everything that is happening out there.

For buyers, choosing "the wrong" property or overpaying for a property is clearly more dangerous now than it was in 2003 or 2004. For sellers, being on market 60 days longer than you could have been, can clearly cost you money when the market is trending down on a weekly basis.

I have no idea why many agents want to pretend the market is better than it is. When the market is going up, people need an agent less. The market is NOT going up. We are NOT at bottom. And having someone to guide you through is more imporant now than ever.

My Favorite Agent Video Blogs - IanWatt.ca

2008-07-12T01:32:24Z

I adore Ian Watt, and liked his style even before he started doing his video blogs. Now that he has the videos going, he is even more awesome!

Everyone can learn a lot from watching Ian's daily video blogs.

1) They are short

2) He has charm and personality and a great twinkle in his eye

3) He says what he means and he means what he says

4) He ALWAYS ends his videos the same...almost always. Creates a feeling of familiarity.

I really like his style. I'm going to try to embed a few here, but you can catch all of his videas at

http://www.ianwatt.ca/Ian-Watt-Video-Blog-Vancouver-Real-Estate.ubr

For Sale By Owners - Call me when you`re ready from Ian Watt Vancouver Penthouse on Vimeo.

Saving a $100 is not always the best route to go from Ian Watt Vancouver Penthouse on Vimeo.

A tip for choosing timely blog post topics that people will really read and find

2008-07-11T13:12:09Z

I can't say that I have utilized this to its full advantage, but over on my blog I have a widget for a "stat counter" in the right sidebar. Sorry to use a link instead of a "screen shot", but I'm terrible at screen shots.

Once you have access to the free Stat Counter (I'm sure there are others that you may already use) there should be an option for"

"RECENT KEYWORD ACTIVITY" I'm pretty sure I have seen someone using this on an AR blog as well, so you should have access fairly easily and free to this type of information.

What this means is that you can see what words people used in Google to get to your blog. What kinds of info were they looking for? In some cases the post they are accessing (for me) is a couple of years old. By having this information you can now write new posts with updated info on these same topics that are currently of interest to blog readers and potential clients.

Of course if you just want more hits, which is of some value, you can write on the more generic topcis that people seem to Google often and from everywhere, like "Pottery Barn Paint Colors" or "Bamboo Floring" or "Granite Countertips". That will raise your hit count generally, and possibly your Google Raning as well. But for garnering actual clients, you want to pay attention to the topics obviously searched by actual buyers and seller sin your area.

Here's a list of my recent keyword activity. It's a great place to go fixhing for new ideas for blog posts because it's a good indicator of what people are really Googling for right now.

Landing Page
11 Jul	11:04:15	www.google.com	ten reasons to buy a home now before the market changes	http://www.realtown.com/ardell/blog
11 Jul	11:03:15	www.google.com	ten reasons to buy a home now before the market changes	http://www.realtown.com/ardell/blog
11 Jul	11:01:35	www.google.com	ten reasons to buy a home now before the market changes	http://www.realtown.com/ardell/blog
11 Jul	10:55:46	www.google.com	benjamin moore green paint	http://www.realtown.com/Ardell/blog/selling-a-home/pottery-barn-paint
11 Jul	10:50:05	www.google.com	bellevue condo market	http://www.realtown.com/Ardell/blog/tracking-the-market/bellevue-condo-stats
11 Jul	10:44:34	www.google.com	how long does it take a house to sell	http://www.realtown.com/Ardell/blog/selling-a-home/how-long-does-it-take-to-sell-a-house
11 Jul	10:32:27	www.google.com	recording in escrow	http://www.realtown.com/Ardell/blog/the-escrow-process
11 Jul	09:47:07	www.google.com	how much will closing cost be on a $315,000 house?	http://www.realtown.com/Ardell/blog/first-time-home-buyer
11 Jul	09:31:25	search.msn.com	fees for selling a home in fl	http://www.realtown.com/ardell/blog/listing-agent-fee/what-is-the-standard-fee-for-selling-my-home
11 Jul	09:07:54	search.yahoo.com	tuscan paint colors by benjamin moore	http://www.realtown.com/Ardell/blog/selling-a-home/pottery-barn-paint
11 Jul	08:24:50	www.google.com	king county real estate market monthly	http://www.realtown.com/ardell/blog
11 Jul	08:22:46	search.msn.com	should i sell my house now	http://www.realtown.com/Ardell/blog/selling-a-home/should-i-sell-my-house-now-or-wait
11 Jul	08:17:28	www.google.com	benjamin moore northern air	http://www.realtown.com/Ardell/blog/selling-a-home/pottery-barn-paint
11 Jul	08:17:25	www.google.com	should i buy a house now	http://www.realtown.com/Ardell/blog/buying-a-home/should-i-buy-a-house-now
11 Jul	08:15:37	www.google.com	should i buy a house now	http://www.realtown.com/Ardell/blog/buying-a-home/should-i-buy-a-house-now
11 Jul	08:07:46	www.google.com	great paint colors for your master bedroom	http://www.realtown.com/Ardell/blog/selling-a-home/pottery-barn-paint
11 Jul	07:25:27	www.google.com	paint colors for small bathroom pics	http://www.realtown.com/Ardell/blog/selling-a-home/pottery-barn-paint
11 Jul	06:59:59	search.msn.com	how to sell my house while buying a new one	http://www.realtown.com/Ardell/blog/selling-a-home/do-i-need-to-sell-my-house-before-i-buy-a-new-one
11 Jul	06:00:53	www.google.com	who gets the earnest money check at a closing	http://www.realtown.com/Ardell/blog/buying-a-home/who-do-you-make-your-earnest-money-check-payable-to
11 Jul	05:10:46	www.google.com	benjamin moore white paint

See "how to sell my house while buying a new one" and "King County Real Estate Monthly" from the list above. I get 150 to 200 hits a day on this site, though all are not shown it still gives me a good idea each day if I'm looking for a timely and relevant post topic.

Market stats AND COMMENTARY on a regular basis help give me a good local following. Broad topics give me a higher hit count. Rarely to people comment...but they do email and call. So keep your posts relevent and don't worry so much about comments. Your keyword finder will show you that people are coming...and why they are coming, so you can spend more time on productive posts.

The Color of SOLD is - BROWN

2008-07-11T01:45:36Z

This one is for Jo Soss, taken right off the stairway wall of a recently sold home in Seattle.

The color was really a Brown Sugar like the one below from Benjamin Moore

But the lighting from the bottom to the top of the staircase gave it that variated pattern and color tone.

A slightly lighter version of Seville Brown below would give you the mid-tone

Here's a trick I use all the time and recommend to my clients. Instead of playing with color swatches to do tone on tone, buy the darker color like Seville Brown. Do one wall, usually the short wall or an alcove or the angled wall with a high ceiling.

Then mix the same color into white to do the rest of the room. That way the tone is identical, but the room isn't too dark all over. No guessing "is this the right tone" if you make two or three paint colors using the darkest color mixed into white. Make sure you put some aside for touch up paint in a glass jar though...cause you'll never get the exact same color match if you mix it yourself.

The Real Estate Market is Not Getting Better

2008-07-11T01:22:12Z

Here in the Seattle area we have enjoyed a really great market until July or August of 2007, unlike the rest of the Country. The big story is in the fewer number of sold property, the higher and growing numbers of property for sale. But in reality what we are looking for is for the reduction in volume to slow down or stablilize. Unfortunately, no signs of that happening yet.

The rate at which sales are getting few is going higher. In the 4th quarter when the slowdown started due to the mortgage and credit crisis, volume dropped to about 29% lower than the same quarter in the previous year. In the 1st quarter of 2008 the condo market dropped to about 38% compared to the same quarter of the previous year and in the recently closed 2nd quarter that drop expanded to 47% compared to the same quarter in the previous year.

There are some stories floating around about the market getting better because more property sold in the second quarter than in the first quarter. That's called "grasping at straws". In reality, the 2nd quarter was by far worse than the first quarter, relatively speaking.

We continue to look for signs that the market will stabilize. When I see a sign I'll let you know...but in the meantime don't believe everything you read because it just ain't so.

The color of SOLD - ORANGE

2008-07-11T01:11:19Z

Above is an actual swatch from a recently sold property. The huge living room was painted in this color. The furnishings were very neutral, the walls were not.

In fact I've seen quite a few shades of orange and brown-orange lately.

Here are a few ideas:

Benjamin Moore's Flamme Orange above

Robust Orange below:

And one of my favorites from Pottery Barn that mixes well with Robust Orange

Semolina:

These colors go especially well in properties with lots of natural light that were built in the eighties and have warm caramel colored wood trims.

But they go just as well in a newer townhome or condo that has dark cherry kitchen cabinets.

The color of SOLD is not always white and boring :)

The color of SOLD - Green

2008-07-11T01:03:03Z

Do what I just did. Go into the mls and look for property that sold very recently and in a short period of time. You may be surprised when you look at the walls inside. Not all white or beige!

The above color was taken from a recently sold home and it was used as an accent color in an alcove in a hallway. Just a splash of color.

In person it was actually much brighter and resembled Banjamin Moore's Malachy Green below:

A great color, especially for urban condos.

Staging and Feng Shui not always in sync

2008-07-09T20:24:36Z

When you stage a bedroom, you have to remember that people often don't come into the room if you don't grab them at the doorway. For a room to say "come in", you often have to "invite" the people in by appealing to their senses.

Would you sleep in this room? Does it say, "come inside"? I think it does! So for staging you most often will face the bed toward the doorway to maximize your largest piece and you biggest decorating opportunity...the bedding.

But Feng Shui suggests that you should not sleep with your feet facing a doorway. Your energy will slip out into the hallway while you are sleeping :)

If the door is off to the left, as in this room, then you are pretty safe. You can stage the room to be pleasing from thye doorway, but when the people go to sleep at night their feet won't be facing directly at the door. I'm not sure if you can just close the door, but I don't think so from what I've read.

Not every room lends itself to facing the bed and bedding toward the doorway, but when staging a bedroom, always try your best to show your main focal point from this angle.

Choose a photo - which is best?

2008-07-07T19:33:44Z

Above is the photo of the sink side of the 5 piece master bath as it appeared in the mls three years ago.

Below is the same photo with some light added and cropped to remove the bedroom from the shot.

Above is the same room with some changes and no lights on. Would it look better if the bedroom was showing as in the first photo? The gold light fixtures were changed to match the silver faucets. The placement of the lighting was changed to be over the sinks, the third mirror was removed and glass shelves were added. I think I should take that brown box off the counter and remove some of the things from the glass shelves.

I'm surprised that I like the lights off better than the lights on. Not sure why the door looks blue in this last shot.

Seems to me the third shot is hands down the best, but with fewer things on the shelf and counter and maybe the bedroom in the shot as in the first one? What do you think?

Fireworks from Kirkland to Iraq - Happy 4th of July!

2008-07-05T01:01:02Z

Hi Michael! I took these from my bedroom window. Enjoy! Miss you!

Awesome! And I didn't even have to leave the house!

Apparently someone isn't tired of hearing me talk so may I say that requiring me to use more words or it doesn't count as a post is a pretty stupid rule around here :)

Are you a two-faced agent?

2008-07-04T15:11:38Z

One of the hardest parts of being a Real Estate Agent, is that one minute we are advising a Seller and the next minute we are advising a buyer. I will not make light of that...it is very difficult to be in that position and where understanding what Fiduciary means becomes so very important.

I just finished writing two articles on my blog.

Should I buy a house NOW?

Should I sell my house NOW or should I WAIT?

One of the best tests of determining whether your advices are best for YOU or for you clients, is to write you own posts like this, back to back.

Now go back and read them to yourself.

Is the answer the best answer for you in each post?

Did you say "NOW is a GREAT TIME TO BUY!" to the buyers and then turn around and say "NOW is the BEST TIME TO SELL!" to sellers?

Did you apply the same outlook for the future of real estate value when you were talking to buyers as when you were talking to sellers?

Of course there are some people who SHOULD buy now and there are some people who SHOULD sell now. That is true in any market. But if your answer is always and to all people the answer that results in a "sale" for YOU, then you do not understand what Fiduciary means. Simple as that. Yes, it would make you a good salesman and if that is what you are, then good - just be honest about that.

Don't call yourself a Fiduciary on your website and in your promotional materials, and then act like a salesman with your clients.

If this makes you stop and think and not know how you are differing in your advices to buyers vs. sellers, then take the challenge. Write a post to buyers about whether now is the best time to buy; and then write one to sellers about whether now is the best time to sell. Then look at the picture in this post and ask yourself if what you wrote sounds like it came from two different poeple :)

The Best Song for Buyers and Buyer's Agents

2008-06-25T11:14:04Z

The other day I wrote a post on The Best Song for Sellers and Seller's Agents and how to utilize it when getting a property ready for sale.

Here's the song I use for buyers: Unlike the song for sellers, which is more useful to the seller this song is more useful to the buyer's agent than the buyer.

You Never Count Your Money Till the Deal is Done

When I was new in the business, some of the agents were kind enough to teach me some of the skills they had acquired over the years. "never count your money till the deal is done" was one of them. They knew that often the agent had to kick something in along the line, usually during inspection, to keep everything together. They said those agents who count their commission when they are writing an offer were the least successful, as their sales were falling apart over $50 nonsense items. You don't count your money till the deal is done...nor do you count ON getting every penny of what was offered at the beginning.

You Gotta Know When to Hold 'em...

You have to ask yourself what the odds are of finding a home like this in the near future? If you have been looking for a home for many months and you like this home FAR BETTER than any you have seen to date, you have to take that into consideration. If the seller is being a little unreasonable as to price. If the inspection has a lot of small cost items...you still want to "hold em" to the end and not lose the house. It's the house itself that determines that, and not necessarily the immediate issue at hand.

You Gotta Know When to Fold 'Em...

Conversely if it is a product readily available, even if not available at the moment, like a large townhome or condo complex, generally you don't go after the one that is overpriced. If the location within the development is not the issue, don't pay more than the improvement would cost you for the improved version. New appliances? New wood floor? Cost out that improvement and "Fold em" on the one that has them if the owner is asking too much for it and buy the cheapest unit and put those improvements in yourself. It gives you a cushion against a changing market.

You Gotta Know When to Walk Away...

While it is true that some sellers are dropping their prices by as much as $100,000 from start price, that doesn't mean you can walk up on day 1 on market and offer $100,000 less for a property. You don't have to walk away for good, but you do have to give the seller enough time to figure out that no one else is going to give them that high price. Value the property independently and don't just make an offer of X% of sale price. It's not in the negotiation until and unless you have first valued the property.

You Gotta Know When to RUN!

The Classic examples of RUN are where the owner has put lots of money improving a property with a substantial negative. This exists in new construction as well. Last year we RAN from 3 or 4 properties

1) Great View! BUT...bad foundation. The view was great because it was up on a high slope, but the house was sliding and the foundation was cracking. We had seen at least five separate fixes done at different times, So the fixes weren't holding. Unless you are going to tear it down and start from scratch and the seller is willing to sell it at lot value, then RUN!

2) Another foundation problem house but the seller had put $200,000 of improvements in without fixing the foundation problem. When a seller invests that much money into a house, they want top dollar on resale, and someone may get caught up Ooohing and Ahhhing over the improvements and overlook the foundation issues. If the seller is acting like all is OK and not willing to deal with the foundation issues...RUN!

3) Water intrusion. There was actually water IN the house at the inspection. Seller's response "It doesn't usually rain this hard". RUN!

Don't buy someone else's headache. There's a lot more to buying a house than simply liking it and going through the motions to close it. Don't get shuffled through the process. If you're gonna play the game, boy, then learn to play it right!

Best Song for Sellers and Listing Agents

2008-06-23T21:02:30Z

For many, many years, I find myself humming this song when evaluating what I need to do to get a property ready for market. So I thought I'd pass it on to you for what it's worth. This version happens to contain one of my favorite actors and TV shows as well.

Now don't cheat! Play the song first, and then read the rest of the post :)

Accentuate the Positive:

List the 5 BEST features of the home. Why did the current owner buy this house? What did they enjoy most about the house that they may not have noticed when they bought it? Make the most of those features and move them Front and Center. Don't start a list of positives from the front door to the back yard and don't post your photos that way either. Always start with the BEST and work your way down in declining order. Make sure your best features show in their best light.

Eliminate the Negative:

Especially those that are the most obvious. Don't expect a good price for your home if the roof is covered with moss. Mold? Get it OUT! Creaky floors, fix those squeaks! Wood rot? Gouge it out and get it filled and painted. One of the worst and most everyone has it is discolored caulk around the bathtub. Clean it up! It's an "eeky creepy". Stains around the toilet floor...smells...awful stuff must GO!

Latch on to the Affirmative:

Pleasant and yet not overpowering smells. Bowls of lemons or limes are nice...even in the laundryroom. All staging efforts come under the category of "latching on to the affirmative" Attractive bath products and rolled towels. These are not "positive" aspects of the home that will make someone buy it. They are affimations of decision when someone likes the basics and now feels more comfortable with their decision to purchase. Flowers (I prefer real looking fake flower to real ones) Show some COOL stuff out and about. Let the buyers know they are moving UP to THE GOOD LIFE! Everything is UP from something. You don't have to have a Luxury High Priced home to display signs of Cool and Oppulent.

...and don't mess with Mister-in-between!

Sellers are often SO busy with the WRONG things. Usually they are things that they were going to do but didn't yet that do not impact the sale. Little things a buyer wouldn't even notice. Then they are worn out and run out of resources before the agent arrives with the REAL list of what needs to be done. Don't start spending money and using up your energy and resources until you get a TO DO list from the agent who will be responsible for getting the home sold.