real estate: Holiday Cheer, Case #2 - 12/28/09 10:19 PM
The day after Christmas,  I receive the following call
Buyer: Hello, could you please show me your listing at 123 Main St?
Me: I can arrange to have an agent show you this property, but are you currently working with an agent?
Buyer: I do not want to use an agent.  I want you to write the contract for me.  I will tell you the terms.  Agents aren't worth the commissions they receive.
Me: I'm sorry, but I do not do dual agency.  You will need to find an agent to write the offer up.
Buyer: I will dictate the terms.  I … (5 comments)

real estate: You must show me a house on Christmas Day, but I do not want to use an agent - 12/27/09 12:39 PM
Why is it the holidays seem to bring out the worst in people?  On Christmas Eve, I receive a call from a buyer interested in a property located next to a property I just sold.  This property is of course listed by another agent.
First the buyer asks me a number of questions about the property.  While I had been in it to do comps I obviously knew little else about it.  She then stated that she is looking for a home for her parents and that I must show it to her that night.
Do they have an agent?, I … (10 comments)

real estate: Dealing with questions about the obvious - 12/22/09 12:26 AM
As most of you know, I deal with several bank owned properties at the same time.  These properties are typically in high demand and therefore I receive quite a few calls a day on them.  I can deal with serious questions, but the following conversation (which on some days occurs every few minutes) really can be frustrating.
Caller: Hello, I am calling about your listing on 33rd Street.
Me: What can I do for you?
Caller: What's the story behind this property?
Me: Well, what do you need to know?
Caller: Is it vacant? (note that vacancy status is on MLS)
Me: … (8 comments)

real estate: Median Prices by Bellevue High Schools August 2009 - 09/01/09 11:57 AM
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real estate: Attention moron agent. Stop killing my house value! - 08/31/09 01:36 PM
Currently there is an agent with three properties for sale in my neighborhood.  These three properties are killing the resale values in my area.  The interesting thing about these properties is they are neither bank owned nor are they short sales.  Property values in my city as a whole are staying roughly the same.  However, if I were to sell my home today I would have to accept approximately ten percent less than a few months ago simply because this agent is a moron.
All of the homes are below market value and I'm not entirely sure why they are not … (2 comments)

real estate: We need stricter penalties for agents - 08/27/09 10:54 AM
Recently while driving down my street I saw something interesting.  A house that had been for sale for some time at $425,000 had a "sold" sign on it.  That was moderately interesting, but what I found far more interesting was that it had a new sign advertising the price now as $475,000!
I was quite stunned at this.  After all, when the property was first listed it started out at $450,000 and slowly made it to $425,000 during several months on the market.  I looked up the property on the MLS and it was pending inspection.  Who the heck puts up … (4 comments)

real estate: John L Scott Bellevue Main Office Picnic - 08/20/09 03:47 PM
All I can say for those of you that missed it, well...  it was a lot of fun. Here is my son Nathan having fun at the lake. I think by far this is the best shot of Nathan EVER!!! Because he doesn't like taking pictures

This one is also shot of my two boys. Eitan and Nathan

That would be my mentor Denny Buck who didn't want to show his face

Our wonderful Chris. I am not sure who is next to her

Hollie is always here to help.


Here is Kathy and Chris … (1 comments)

real estate: Why dual agency should be illegal - 08/17/09 11:25 PM
Not long ago I mentioned a property not far from where I live.  The property started out as a normal listing, then failed to sell over time.  After numerous price reductions, it became a short sale.  After even further price reductions, it finally sold.
The agent who sold the house served as a dual agent in the transaction.  Approximately one month after the home sold and a few small changes were made to the property, it was listed again with the same agent.  The remarks for the property mentioned that it was a recent short sale and had been updated so … (6 comments)

real estate: Are raising a new generation of criminals? - 08/11/09 01:12 PM
It is well known that the vast majority of hardened criminals do not start out with severe crimes.  They start out with very small crimes and when they discover that they can get away with them, they move on up from there.  Many of the criminals of tomorrow, though, will be of a completely different start.
The simple fact of being foreclosed on has turned out the worst in people .  Say you have a car that you want to sell, and someone comes up to you to buy it.  The buyer only can put a small deposit down on the … (3 comments)

real estate: A letter to a foreclosed owner. Beware! - 08/10/09 02:23 PM
 After a home has been foreclosed, I work with banks to sell them.  Typically, I am the one who informs the previous homeowner that he/she no longer owns the property and must vacate.  Different people respond to this in different ways of course.
What I am seeing though, is a very dangerous trend.  It is a trend that must be stopped in its tracks, or it will have very serious complications for us all.  This trend is the previous homeowner destroying the property.
One recent case really boils my blood.  All the more so since I went out of my way … (11 comments)

real estate: A change in the foreclosure market here - 07/31/09 01:57 PM
As many of your know, I primarily sell bank owned homes.  Part of my job is working with the previous owners to vacate the homes, and I hear my share of stories.  However, I have noticed these stories changing.
For the first homes, I can honestly say that I had absolutely no sympathy.  These were the type of people someone could say that it was not all bad that they lost their homes.
Along with an increasing number of foreclosures here, I have noticed a sharp change here.  Most of the people I now meet are ordinary people.  They are nice … (4 comments)

real estate: A funny property visit - 07/31/09 01:18 PM
Once in awhile I receive a good laugh from a property visit.  I'm sure all of us have these days.  I suspected that the property was going to be interesting.  It was recently sold as a short sale, then flipped and placed on the market with the same agent that listed it originally.
First it is rather odd in today's market to flip a property, but I digress there.  I had a buyer interested in it, so we took a look.
In the description for the property, it mentioned that the lot was huge enough for horses.  I don't know about … (7 comments)

real estate: Median Prices by Bellevue High Schools July 2009 - 07/27/09 04:27 PM
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real estate: It takes the right type of buyer to buy an REO - 07/14/09 04:43 PM
Recently I have seen a large upsurge in the number of buyers approaching me about purchasing REO properties.  Until recently, I preferred to not work with buyers.  Most of my sales come from listing REO homes for banks and that keeps me quite busy.  However, I came to realize that with my specialized knowledge I could help buyers navigate this tricky market as well.
What many buyers do not realize though is that not every buyer is ideal for an REO property.  If you match any of the following criteria, REO properties are probably not for you.
1) You are not … (9 comments)

real estate: Buyers are looking at other buyers to see if they are confident. - 07/11/09 09:29 AM
Recently I had a conversation with a buyer who contacted me about buying a house that went like this?
Buyer: What are you seeing in the market right now?
Me: I am seeing a lot more buyers in the market.  I see prices staying the same right now but there are a lot more buyers out there.  There seems to be a new found buyer confidence in the market and the realization that now is the right time to buy.
Buyer: My confidence is not up!
Me: Then why are you talking to me about buying a home?
This is a … (7 comments)

real estate: Why short sales suck - 07/06/09 12:54 PM
Short sales suck.  Sometimes they're cheap.  Sometimes they're pretty.  But almost always they suck.  In today's market, there seem to be two types of people - those who run away from short sales and those who run towards them.
Do you know why they suck?  They suck because any agent out of the blue can list them.  There are no requirements other than a real estate license.  It does not matter that the agent has never dealt with a bank before or even that the agent has any idea what a short sale truly is.  However, no matter how good the … (11 comments)

real estate: The thing about discount brokers - 07/02/09 12:57 PM
As I have mentioned before, my husband participates on a large alias at his work where people ask questions about homes and real estate.  Over time, he has noticed that a huge number of them will not even consider a full service 3% agent.  They want discounts and many of them use Redfin or a discount (1% agent).
In the beginning, he attempted to dissuade them and explain what you get with a true full service agent.  To be honest, I doubt he really convinced anyone.  I also used to spend a lot of breath trying to explain this, but the … (7 comments)

real estate: Real estate agents are independent variables - 07/01/09 11:25 PM
Recently my husband showed me a thread from his work where the thread went similar to this.
Question: Could someone recommend a realtor that is an expert in Education Hill?
Reply: I recommend "so and so".  He is a very good agent.
Reply: Do not use anyone in that office.  I had a very bad experience with an agent there.
Reply: Just because you had a bad experience with one agent, doesn't mean they all are bad agents in that office.
The individual then started going off about how evil the agent was.  Listening to his story, I honestly felt for … (13 comments)

real estate: Median Prices by Bellevue High Schools June 2009 - 06/16/09 10:30 AM
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real estate: Funny foreign perception - 06/02/09 01:41 PM
This weekend I received an e-mail from one of my friends from school who currently lives in Russia.  He had read about the housing crisis in the United States and wanted to invest here.  His question:
"What can I get for $100,000 in the US?  I'm thinking about buying a large house on the beach."
Contrary to reports, at least in this area you still can't buy much of anything for $100,000.  For that amount, you'll get a condo very far away.  Prices have fallen, but they'll have to fall far more drastically to even approach that level.
Still, I thought … (4 comments)

 
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Nelya Calev

Bellevue, WA

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John L Scott

Address: 11040 Main St #200, Bellevue, WA, 98004

Office Phone: (425) 688-3658

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