Cleaning up the Mess and Consumer Confidence - 09/30/08 12:57 PM
At the heart of the current shift we are experiencing is affordability. At the height of the boom, homes and mortgages were given to anyone who could fog a mirror, regardless of whether or not they could afford it. Many of those people are now feeling the pain of the debt they took on that has fueled the short sale and foreclosure crises (also leading to the banking failures).What needs to happen is sales. That is easier said than done, I realize, but that will for sure help jump start our economy. If consumers had more confidence in the economy and … (1 comments)

Seattle stands strong despite the economic madness - 09/29/08 03:11 PM
Residents of the Pacific Northwest and myself are lucky we live in an area that did not feel the pain of this shift as much as other parts of the country. The economic infrastructure in Seattle, WA is not dependent on tourism, high priced items like cars (for instance), etc. We have a strong economy here and our market held strong.
Places like California and Florida, where much of the local revenue comes from tourism, have been hit hard by large amounts of foreclosures. Of the percentage of foreclosures occurring nationally, 40%, are in California and Florida. That's almost half in 2 states alone! Those … (1 comments)

Facts Regarding Washington's Real Estate Market - 09/25/08 12:39 PM
Please disregard what you hear from the news reporter of your choice- they don't have the facts about what is really going on in YOUR market.
The fact is, Washington is doing great compared to the rest of the country. We may have to deal with a few issues in our national economy but besides that, take pleasure in knowing that we are doing well in the Pacific Northwest.
The Washington State University's Center for Real Estate Research put out a report about the status of real estate in our state. Here are some of the highlights:
*Their key message- The Washington … (1 comments)

Rece$$ion-proof your life - 09/23/08 04:08 PM
Our economy may be less than hot, but your finances don't have to be! It is more important than ever, to get on top of your finances and take control of your money. Regardless of how the national economy is doing, you want to be secure in knowing that you and yours have a plan and are taken care of.
Dave Ramsey -money expert and financial guru. He is a no-nonsense kind of guy and he tells it like it is. There isn't an afternoon that goes by that I am not tuned into his radio show. His 'Baby Step' program has … (5 comments)

Toto, I don't think we're in Kansas anymore - 09/22/08 03:56 PM
Like the twister that wreaked havoc on the Gale family farm in 'The Wizard of Oz', this financial and housing storm, will soon pass too.
We are in the middle of one of the worst financial crises in a long time! But based on what's happened in our history, we know that this too shall pass. It's not going to be easy and it's going to take a lot of work to get us out of this. One thing is for sure, we need to stop focusing on the storm and instead get about the daily business of getting homes sold!
… (0 comments)

When blood is running in the streets... - 09/22/08 02:57 PM
...that is when to buy!
Here is a blog from a fellow Active Rain-er from South Carolina. She says that if you are in the position to, that now is the time to invest in this real estate market and make a pretty penny doing so.
 "BUY REAL ESTATE NOW!!! By: Mirela Monte, Your Myrtle Beach Connection"
'Burger King did it, and so did many others.   It seems like a good strategy:  watch what the big boys are doing and just copy them to ensure success.
Just what are the big boys doing right now?  I don't know about your clients, … (2 comments)

Ready, set, sell! -Preparing your home for the market - 09/19/08 01:05 PM
In order to sell your home in the shortest amount of time for the highest profit, you have to prepare your home to appeal to the largest section of the public. That sounds like common sense but some sellers just don't get it. Especially in this market, where you need to stand out from the crowd to sell, and sell fast, preparing your home is essential!
Smart sellers know that buyers need a little help envisioning themselves living in the home, and they work hard to show the home in it's best light. If they don't outshine the competition, the house could sit months without … (3 comments)

Shoreline, Washington Market Update- Spotlight on Meridian Park - 09/17/08 04:19 PM
Meridian Park is a neighborhood in Shoreline, WA, a suburb of Seattle, just off of Interstate-5. The neighborhood is very open and friendly neighbors can be seen power walking down the streets with their dog in toe.
As far as real estate goes, things are moving along just fine. Within the last month, 3 homes have sold, 1 went to a pending status, and there are still 5 active and ready to be purchased. The median listing price is $368,356 and the median sales price is $379,667. The average days on market for homes in the area is 99 days.
In all of … (0 comments)

Cramer predicts meltdown- What's next?! - 09/16/08 01:27 PM
Back in August 2007, when the market began to show signs of its collapse, Mad Money's Jim Cramer predicted the eminent economic meltdown. http://www.youtube.com/watch?v=GKZgfrsItmw
A fellow Keller Williams agent out of Celebration, FL, Steve Glose, writes, "With the world's financial markets in turmoil the question on everyone's mind is 'Are things going to get worse and when will we see this mess level off?' No one knows this answer for sure but a good bet is that things are still going to get worse before we see things turn around. The finger pointing at the problem is pretty easy. The housing melt down has caused … (2 comments)

Katie Couric is not my friend right now! -Negative news affecting real estate - 09/15/08 03:15 PM
"No one denies that the market has its downs as well as its ups, but more than a few real estate professionals feel that the news media is as much a cause of consumer gloom as it is a reporter of it. This is an old story, of course, but recent market conditions have certainly exacerbated the problem" (http://realtytimes.com/rtpages/20080723_pushback.htm). 
I couldn't agree more-the gloomier the news stories the better. And it's really affecting real estate. Obviously, if consumers are hearing report after report about banks going bankrupt or home prices falling, their confidence in the market is going to plummet. But … (11 comments)

We're in the eye of the hurricane - 09/13/08 07:10 PM
We are in a down real estate market. I said it! Things have shifted and it's taking a little bit longer for houses to sell. The good thing is that they are still selling!
The law of equilibrium will bring us back to an up market sooner or later. Just imagine a golf swing. The club goes back slow but then does a great BIG swing. When the market will shift is up in the air but until then we need to roll with the punches of this market.
A lot of things have led us to this point. Instead of … (0 comments)

Before you buy or sell... - 09/12/08 01:04 PM
..make sure you get a home inspection!
Realtors should recommend that their buyers and sellers obtain professional home inspections for their own protection. It is a "must have" for home buyers and an invaluable marketing tool for sellers.
Buyers want to know that the home the want to purchase is safe, structurally and mechanically sound, and free of health risks. A home inspector's visual evaluation provides a solid foundation of knowledge about the home, it's components and systems. Home inspectors also provide maintenance tips and other great info to help you protect your investment.
For sellers, you need to provide full … (1 comments)

The best advice comes from the Boy Scouts... Be Prepared! - 09/11/08 01:09 PM
Their advice is especially important this month, as the Department of Homeland Security has made September National Preparedness Month.
In my community, I am a certified Shoreline CERT member. CERT stands for Community Emergency Response Team and members are trained and certified to work within their neighborhoods to respond and take charge in emergency situations. As a CERT member, I have a knowledge of the dangers that we potentially face in any emergency situation and the skills/ abilities to get through the it.
On that fateful day 7 years ago, the city of New York did not know what was going to happen … (1 comments)

Shoreline Changes and Plans for the Future - 09/09/08 02:24 PM
For those of you who have the privilege of living in Shoreline, you know that it is a great city. Shoreline was featured in Seattle magazine as the #1 best neighborhood in the Seattle area. We have a lot to be proud of! We are an ever growing city that just seems to be getting better and better.
When I first moved here in 1997, the city looked very different than it does today. Where Central Market is today was an old Thriftway store. Top Food & Drug on 175th used to be a run down framing shop and grocery store. The … (0 comments)

U.S. seizes Fannie and Freddie- Great news for homebuyers! - 09/08/08 02:22 PM
Fannie/Freddie Bailout Situation
For those of you who haven't heard yet, federal officials announced their takeover efforts of mortgage firms, Fannie Mae and Freddie Mac. Talk of the takeover has been going on all summer and Sunday they were finalized and the two companies will now be overseen by the Federal Housing Finance Agency. "Under conservatorship, the government would temporarily run Fannie and Freddie until they are on stronger footing" (http://money.cnn.com/2008/09/07/news/companies/fannie_freddie/index.htm). Freddie CEO Richard Syron and Fannie CEO Daniel Mudd will no longer run the agencies, while the FHFA will assume control of the boards.  
"(Both Fannie and Freddie) have been badly … (0 comments)

Spotlight on the Emerald City - 09/05/08 12:47 PM
We all know that Seattle is the best city ever - and now the rest of the world does too!
Two major magazines, National Geographic Adventure and The Smithsonian, feature articles in their September issues about how wonderful our fair city is.
National Geographic picked the top 50 best places for the adventuresome to live. According to the article, Seattle ranked #1 and was chosen among the most innovative towns that welcome people who relocate there. The magazine also says these spots have plans for becoming still more attractive - all without sacrificing green space or jobs (http://adventure.nationalgeographic.com/2008/09/weekend-getaways/best-places-to-live/adventure-towns-text).
University of Washington professor, Charles Johnson, relocated … (0 comments)

Exit strategies- Overcoming the obstacles in this market - 09/03/08 03:13 PM
Being a player in this market is a tough one. Buyer's are hesitant to buy and seller's are weary of weather or not their listings will sell. Because of all the fear floating around, more fear comes as a result. We are in a self perpetuating real estate crisis!
In order to get things moving again, buyers and sellers need to come to grips with the realities of this market and start acting bold in the face of uncertainty. Action is the only way we are going to get out of this and if you are up to the challenge of jump starting … (1 comments)

 

Nicole Weidauer

Shoreline, WA

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Keller Williams Greater Seattle

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