How is the market recession hitting you?  Will you do anything to get a sale, or sell your listings? I know many who will and do. With our industry saturated with many foreclosures, and lender issues, it is surprising the whole real estate industry doesnt just walk away.  I guess, that is happening, not only are many builders in our area foreclosing, but so are some of the real estate franshises.

So when you do finally get an offer on a listing, what are the expectations? I'm finding that most buyers still want a deal, on top of the "lowest price home in the community": That they want to negotiate, even if it is a short sale. The buyer is not concerned for the seller at this point in the buying transaction. ( or ever?)

Isn't it true the the "deal" buyer will find the nicest home at the top of their price range or even totally out of their price range, to make an absurd, low ball offer that is so low that it is not only laughable, but is it really negotiable?, and sometimes the offer is even lower than the lowest home sold for in that neighborhood...EVER!!!!   So is the value really there, if the buyer sees it so differently than the seller??

Here is the stumper... are you running your business or is your client? How about the agent who presents this offer and apologizes!!!! ( the client set the price, not me) Remember, you are the expert, not  the buyer!

 If you know that your clients offer is laughable and maybe insulting, wouldn't you make that offer the best offer possible, because you Know the seller will counter it anyway, or not respond. I would say that he is not edifying his clients on the real estate process, or is so hungry for a transaction that "throwing mud at a deal may just stick"

Perhaps in this market of huge inventory( King County, Washington) and low prices, the economy brings out the worst in people, but it is still important to be professional: Your reputation stays with you , long after that client is gone.

Here is the nearly before photo of a wall and fireplace.
Originally this home was full to the ceiling with stuff, so a true before photo was impossible. This wall was brown paneling as seen a lot in the 60's and 70's.   There was old and dated 1950's furniture and old wall to wall carpet  from 1960's covering this hardwood.

We ripped out the carpet, stained the hard wood floors, painted the wall a neutral color and the ceiling white, then painted the fireplace surround.

This is the after shot, with a small vingette for the corner nearest the window.  It is not much, but draws out the beautiful floor and accents the fireplace, which is the redeeming feature in this 790 foot, 1944 home.

I am submitting this to the vacant home resale category! thanks all.

THE market is changing or is it just adjusting its girdle?

This past week has brought out the few buyers that remain in the market. It would appear that the lower the price the better... hasn't that always been the case?   So what is the difference in conditions now?  HMMM.. Here I am seeing the first time buyers, the eager beavers who have never owned a home before...peek their little eyes open.  I am hoping they are realistic and optimistic... I know those burned by past home purchases have a sour taste still lingering. So where are the foreclosure people moving too? rental homes? apartments? or Shelters???  

If you are foreclosed on, your credit is shot... where do you go from there? who will rent or sell to you? Has anyone ever seen these people again? What did they do to overcome the housing market blues?

Is this situation going away any time soon??? I know we are realtors, but perhaps a little Houdini would serve us all well. If this goes on for another year.  what will happen, and how can we help not hinder the situation???? 

After many months of wishing I were " the Joneses' and had everything they had, well at least the GPS system, I finally recieved my own GPS.

It files all the photos I would ever want to view( especially) while I drive, or music via mp3, audio books can be installed too.  wow.

It is everything I had hoped for, It takes me to where I want to go easily with a quick, easy  touch screen. then it tells me if I miss a turn, then askes me if I would like to detour. It lets me know that I am now speeding and would I like to avoid the car accident ahead? oh and I am approaching a street at 36 miles per hour. Wow, did not know I was speeding.

Oh and yes, My New GPS tells the  weather forecast , where the next or closest restaurant is,,  including the address, and phone number to make the reservations in route...I know Mcdonalds will be pleased I called.

I found the church ( I had never been to)for the funeral today and got there ON TIME! How did that happen?

Well I am almost to the office now, I have .2 miles til I reach my destination, when I decide to take a left turn.. GPS says.." recalculating or detour' ?... AWha,, a detour, although I know where this Starbucks is, It is nice to know that GPS can find the next one, detour me, recalculate my return to the road and tell me how long until I finally reach my destination. 

Yes today I am late, by 1 minute and GPS told me I would be. so I expected it.  It is nice to be so predicatible, all at the touch of a screen. Hope you all have the opportunity to take a GPS tour of your own.

TODAY I sit and watch the gray clouds roll past and empty the sky to layers of blue from me to YOU.

I see the sunrise pink in the sky and see the day start at the beginning, just for I.

The glorious mountain stands majestic and tall with small drifts of snow just starting to fall.

the pink on the trees is coming out in full chorus, yet do not know the magical force,

that is just about to spring upon them , we know , of course.

It is time for the night to dwindle in, Now the sky is beginning the start of the end.

I see the clouds rolling in once again and  so know that the showers, drench whats blooming within.

Here it is, the soft breeze the pink twilights in sight, awaiting all the glorious changes tonight. 

Ok Rainiers, you are getting this direct from the summons room. There are about 50 people left here for 15 court rooms. All are waiting for the random calling of their name to attend a courtroom trial...now that I am here, I hope to get called up for a case... It sure beats sitting around and waiting for a trial all day long. Yesterday we had a 2 hour lunch break and were dismissed 2 hours early.  Apparently, no trials to be judicated.  I was actually able to go to work for the remainder of the day.

It is a learning experience and your duty and obligation to participate in jury duty. I keep hearing about people "tyring to get out of it" . It  just doesn't seem right.  I also know so many people who would love to be summoned to jury duty and have not.  Wouldn't it seem sensible to add the verbage : ""are you interested in jury duty" to the voting ballots, perhaps those that would like to do it, could also be included.

I must say, I always wanted to be summoned... I think everyone I know asked me " couldn't you get out of it". Well I didn't want to get out of it.  I think we all should be subjected to the services in our community. If we can donate time, energy, labor etc to helping make our world a better place, then Why would I want out of it???

The only problem with JURY DUTY is you can NOT volunteer to do this...  WHY is that?

Ok , statistics are out. what was 8.5 months average market time in December and January, is now 6.8 months for South Seattle area East side.

The SouthWest King county WA statistics went from 6.8 months to 6.1 months on the market... Is it significant?

This week we have had several multiple offer situations, with the loosers scrambling to find like properties for their buyers.

Do you know your absorption rate... check my blog on Absorption rate 2/26/08

see you round in the RAIN

In the past year, many first time buyers came out of the woodwork.  Most are qualifiable on paper, but cash poor!!  All the buyers I worked with were able to get a zero down program without seller concessions. Here in King County, WA, THESE loans have gone bye -bye, along with arms and the lender's Credibility. 

Now, we are heading toward stricter lender requirements and stricter borrower qualifications. Poor credit make it impossible to get a loan without the hoop jumping that frustrate buyers (& REALTORS)! That has not changed. In fact, with new  increased loan amounts now available and interest still looking promising, the lender qualifications and restrictions have not eased. It is nearly impossible for the less than " A" paper buyer to get the best loans. The lowest credit rate that a lender will likely look at  is 580. There are still available, with life breathed back into them, the HEART, NEHEMIAH (sp) programs. with seller paying a 6% contribution.

Most lenders are now pushing credit restoration services just to be able to qualify a buyer that does not currently qualify.   In clearing up the credit issues... it may work in aiding them getting into a home, but will not always solve the issues of the POOR credit to begin with... after a while  the buyer may creep back into bad credit habits that lead to foreclosure.

BEWARE... not all is as it seems.. Be sure to warn your buyers of the concerns with purchasing on the edge of qualification.

It is unusual to find someone willing to do their civic duty, willing to give up time and energy and yes money to be a part of the judicial system as a juror:  I have always wanted to do that.  My mother, at 79 has been summoned probably a dozen times, I have never been summoned.  Hmm. What does my  mom have that I don't? Why has she been chosen and not me?   I did NOT have an answer for that.  But I do know that I vote, pay fines, own real estate, drive, pay bills etc... just like any other citizen... So today,,, I WAS Finally  SUMMONED.

DID you know that it is a criminal offense to not show up to your summons?

Now, I do not have the time and  resource /money available to do this. it is an inconvenience, plus they want me to sit, sit, sit all day long, that is hard. Yet, being a REALTOR I guess is not an excuse, nor can I think of another legitimate way out of doing my duty...  So, I finally get to do what I always wanted to do, Be a juror. I just hope my clients will understand how invaluable I am to the justice system.

Just recently I was contacted by an on-line referral company. They are interested in selling me leads generated from their web site about real estate.  I did a little research, found out that the cost was minimal compared to most lead referrals, asked what they used for qualifying factors etc.  SO I WENT FOR IT! Is this a mistake? probably... of the 7 names sent me, 2 were invalid phone numbers, none responded to my follow-up email, one did not speak English ( my main language), and the rest were well.... how do I say this delicately.....  "CRAZY". 

Unreal wants in an unreal market... Although inventory is high and rates are fairly low, people expect a lot for nothing!!!  Every single referral had a price range of $50,000 less than even the least expensive home.  REALITY!!! 

SO what is a good lead? I think the best leads are the ones you can qualify,  yourself, and under your terms.

Anyone, a homeless person, jobless person, etc can want a home, but in reality that is not a lead, just an inquiry. I wish there were more set standards industry wide to define a quality lead.

This is an eye opening experience, using the on-line referral system, I am glad I tried it out, fortunately, I am only committed for one month. That is plenty of time to determine if this will work at my level of standards for lead generation.