"Singing in the Rain!"

The Golden Rule and Real Estate

Tue, 30 Jun 2009 18:12:41 -0500

In the Gospel according to Luke, we find the following saying:

"Do to others as you would have them do to you." Luke 6:31

This verse provides the basis for what many refer to as 'The Golden Rule' or the Ethic of Reciprocity, which states one has a right or expectation to receive fair and just treatment, and a responsibility to offer similar fair and just treatment towards others.

Just recently, I had the pleasure of representing a 1st Time Home Buyer in the purchase of a property in West Bremerton WA. Overall, it was a fairly smooth transaction. I had the good fortune of working with the Listing Agent previously and knew her to be a very competent professional, as well as a strong advocate for her clients.

We navigated through the inspection process, where the Sellers kindly accepted to remedy all of the items the Buyers had requested. The required work was performed promptly and copies of relevant receipts were provided.

The weekend before closing, I performed a final walk-through with my Buyer to visually verify that all work had been performed. The Sellers were busily packing the last few loads of household effects, so we could meet our Monday closing deadline.

On the day of closing, after receiving notification from escrow that the contract had funded and recorded, I turned the keys over to my joyful and excited Buyer, who immediately began the process of moving into her first home!

Imagine her disappointment at finding the home in less than 'move-in' condition. It was clear that the Sellers had made very little, if any, efforts at cleaning the home after removing their belongings. Even the most basic tasks of vacuuming and sweeping had been neglected. After several days delay and several hundred dollars paid-out for cleaning expenses, my Buyer was finally able to move in.

Let's face it, the relocation process can be a very hectic and stressful time for both Buyers and Sellers. There can be instances where time or travel constraints can prohibit us from ensuring that the home is left in reasonable move-in condition. In such situations, Sellers should be advised to budget for professional cleaning services paid out of escrow, or to provide the Buyers with a credit at closing to cover such expenses.

Both Buyers and Sellers (and their Agents) need to remember and apply the Golden Rule:

"Do to others as you would have them do to you." Luke 6:31

Silverdale WA and Bremerton WA tapped as #1 US Housing Growth Market

Thu, 11 Jun 2009 16:11:39 -0500

In the most recent issue of US News and World Report, Silverdale WA and Bremerton WA were both ranked in 1st place among the Top Ten US Housing Markets for the Next Ten Years.

Citing a recent study conducted by Moody’s Economy.com, Associate Editor Luke Mullins shared findings that the home prices of neighboring cities Silverdale WA and Bremerton WA should expect to increase by an average of 5.2 percent annually from the fourth quarter of 2008 through the same period of 2018.

Situated near the heart of the Kitsap Peninsula, Silverdale and Bremerton WA share more than 300 miles of scenic Puget Sound coastline with other area cities like Port Orchard, Poulsbo, and Seabeck.

While the attractive Pacific Northwest location is certainly a huge draw that brings new residents to the area, the study points to the area’s stable economies as the primary determining factor for the projected future growth. A large military presence/community— of the U.S. Navy in particular — helps to insulate the local economies somewhat from the widespread volatility being experienced in other markets around the county.

With the current low mortgage rates and the $8000 tax credit, this can be an excellent time for 1st Time Home Buyers to enter the market. And, with the number of bank-owned properties and short sales, there is also opportunities for investors to acquire some bargain-priced properties.

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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

"Wholesale Sports" - Local Business in Kitsap County WA

Wed, 10 Jun 2009 20:16:14 -0500

As you know from my past articles, I am a huge crabbing enthusiast. Here in the waters of Puget Sound, the prized Dungeness Crab is plentiful, and can be easily caught with the proper gear.

In years past, we had several local options on where you could purchase your crabbing gear supplies.

Unfortunately, several of these suppliers have either gone out of business or are in the midst of bankruptcy proceedings.

With the opening of recreational crabbing season soon to come to the Hood Canal and other waterways of the Puget Sound, where can a guy/gal buy their crabbing gear supplies?

For all the current lowdown on crabbing on Hood Canal WA and options on where to purchase your crabbing gear, go to CrabbingInTheHood.com (opens up into a separate window for your viewing ease).

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Another Wordless Wednesday

Wed, 10 Jun 2009 20:02:26 -0500

All the usual suspects: Luke (Future QB for Ohio State); Alex (Lover/Wife of Ben); Ben (Worship Leader/Song Writer); Emily (Hottie like her Mom); Elliot (Class of 2009 and college-bound)

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"Responding to Low Offers" - Seller Strategies in Kitsap County WA

Thu, 04 Jun 2009 18:47:47 -0500

A while back, I published an article on my local real estate blog, SOUNDBITEBLOG, entitled "The Art of Offering Less." It ended up becoming a 3-part series catered towards a Buyers perspective and provided some practical guidance/advice on how to draft offers that were less than the listing price.

In the 1st article we identified the market dynamics that tend to encourage or breed low offers.

In the 2nd article, we shared various strategies for Buyers to achieve success with low offers.

In the 3rd and final part, we discussed the risks that are inherent with making low offers.

Just recently, I received an offer on one of my listings, a secluded Hood Canal view property near DeWatto Bay in Tahuya WA.

Prior to faxing over the offer, the Selling Agent gave me a heads-up that the offer was going to be less than the current listing price. Evidently, the Buyer's home, which had been on the market for nearly a year, had just recently gone under contract, but at a price that was significantly lower than their original asking price. Even after 3 price reductions, another larger home on the same street had just closed for $23,000 less. Since they had taken such a huge hit on their home, I guess they only felt it reasonable to expect other Sellers to be as equally accommodating.

The Selling Agent informed me that their offer was going to be approx. $30K below the Listing price, and wanted to know what I felt the Sellers response would be. I told her that I would present any and all offers, and that it was up to my Sellers to determine what kind of response was appropriate for them.

When the offer finally came in, the offer price was actually $35K below our Listing price, and also asked for the Sellers to contribute $11K towards closing costs, making the effective net offer nearly $46K below what my Sellers are asking.

Typically, when counseling my Sellers, I tell them that every offer should be considered as a serious offer, regardless of how low the offer price may be. Usually, I advise them, at the very least, to counter back at a price they feel comfortable with.

However, after discussing this offer at length, my Sellers felt that the disparity in price was just too substantial, and did not warrant their consideration.

It was one of those rare instances where I had to tell the Selling Agent, "Thanks, but no thanks!"

Once again, my previous point was reinforced: If you're going to submit an offer that is less than asking price, make sure it's enough to at least capture the Seller's interests and establish a starting point for negotiation. Also, realize that market dynamics do not apply equally across the board for all properties, even if they're in the same State, County, City, or even the same neighborhood.

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Kitsap County WA Real Estate Market Report for June 2009

Tue, 02 Jun 2009 18:04:32 -0500

Real Estate Market Report for Kitsap County WA 06/01/2009

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for June 2009, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

Properties currently active on the market: 2014
Properties closed in the last 180 days: 971
Average Sales Price: $291,864
Average List Price: $305,043
Ratio of List Price to Sales Price: 96%
Average Days on Market: 104
Sales Pending this Week: 97

Bainbridge Island WA statistics separately: (Area 170)

Properties currently Active on the market: 350
Properties closed in last 180 days: 98
Average Sales Price: $646,191
Average List Price: $687,266
Ratio of List Price to Sales Price: 94%
Average Days on Market: 134
Sales Pending this week: 7

Home prices in Kitsap County WA continued to drop slightly in May, while pending sales showed further improvements.

Lending rates have jumped rather significantly just over the past several weeks (from 4.5% to 5.25%), spurring many potential Buyers to get off the fence and make the home buying leap.

The market continues to offer excellent opportunities for qualified 1st Time Home Buyers with the low rates, the $8000 1st Time Buyers Tax Credit from Uncle Sam, and the large amount of homes available on the market.

If you're a motivated Seller, now may be the time to seriously consider making a meaningful pricing adjustment, so you can move onto the next adventure in life!

Top selling neighborhoods in Kitsap County WA were Area 141 (South Kitsap West of Hwy. 16); Area 148 (West Bremerton); and Area 150 (East Central Kitsap).

For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound, access my website, Kitsap Life .

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"Dirty Harry and Local Real Estate Experts" - Trulia Voices Q & A's

Wed, 27 May 2009 04:27:35 -0500

I've always been a big fan of Clint Eastwood. When I served onboard a submarine in the US Navy, we watched "The Outlaw Josey Wales " a gazillion times while out on patrol. There's just some very basic and wise counsel we can derive from the rich history of 'Clintisms' found in his archive of quality male-bonding films.

For instance:

From Pink Cadillac: "I have strong feelings about gun control. If there's a gun around, I want to be the one controlling it."

From The Rookie: "If you want a guarantee, buy a toaster."

From Dirty Harry: "Do you feel lucky? Well, do ya punk?"

From Sudden Impact: "Go ahead, make my day."

In the movie "Magnum Force " the Oscar-winning actor made the memorable quote, "A man's got to know his limitations ."

The other day, I was responding to a question I had received through Trulia's Voices . This is one of the better features of their platform where consumers accessing their site can pose questions relating to real estate. ActiveRain used to have something very similar that had dominant placement, but its been lost in the wake of other value-added features.

On Trulia, if you register for a specific geographic market area, they will automatically notify you whenever a question is submitted for that area.

Unfortunately, Trulia has the same kind of problems we experienced here on ActiveRain. Everyone's an expert. It doesn't matter if you're licensed in Alabama, and the consumer is submitting a question from Alaska, everyone with a question is fair game!

On Trulia, you can gain some notoriety for being one of the 'Top Real Estate Professionals on Trulia Voices .' All you have to do is answer the most questions. It doesn't matter if your advice/answers have any bearing on the question, or provide any substantive value to the consumer. Whoever has the most answers earns the Top Spot, period (And I thought we had problems with people gaming the point system here on ActiveRain!). Personally, I think there would be greater value in scoring/ranking their top members by using the rating they receive from the actual consumers who are posing the questions. To me, that would be the most realistic and meaningful measure of a real estate professionals worth.

Regardless, the bigger problem, as I see it, relates to so-called real estate professionals who are attempting to answer questions beyond their area of expertise. Now granted, there are aspects to our business that apply to virtually all markets. And some people are legitimately licensed to conduct business in more than one State. But that's usually the exception, and not the norm, in these kinds of forums.

For me, it's normally a dead give-away when the first part of their answer begins with "I don't know how they do it in your State, but here in XYZ we".....

If you're not licensed to do business in a particular State, or aren't familiar with their specific State laws or statutes, don't answer! There are few things worse than giving unqualified advice. You end up being like that guy on the Holiday Inn Express commercials:

"No, I've never performed open heart surgery, but I did stay at a Holiday Inn Express last night! "

And who in their right mind would open themselves up to the increased exposure for potential liability by giving an unqualified answer on the Internet where the digital record is such an enduring source of incrimination?

The other thing that really bothers me (and this is more of a personal pet peeve), are those whose actual answers are shorter and of less substance that the incessant volume of blatant self-promotional banter that they cram into the body of their weak, emaciated answers.

Do you really want to earn the consumers trust? Do you really want to provide them with information that is relevant, helpful, and practical? Do you want to establish your credentials as the local resident real estate expert? Do you want them to contact you if they want further assistance? Then answer only the questions you are clearly qualified to respond to, and make your answers complete/meaningful. Don't try to bait them into accessing your website, or contacting you by email for more details. Give them the good stuff, right up front, and in its entirety.

"Go Ahead, Make Their Day!"

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Selling Your Kitsap County WA Home

Fri, 22 May 2009 10:39:45 -0500

Let’s face it, these are challenging times, especially for Sellers. Nearly half of the market areas in Kitsap County WA have more than a year’s worth inventory of homes currently available for purchase. Add to that mix the decreasing property valuations, along with an increase in short sales and foreclosures, and the result is an intensely competitive and difficult market dynamic for Sellers.

So what viable home marketing options are available for today’s Sellers in the midst of such dire circumstances?

To learn more about the options available for selling your home in today's tough market, go to SOUNDBITEBLOG (opens up in a separate window for your viewing ease).

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"Monkeying Around on Mom's Day" - Another Wordless Wednesday

Wed, 20 May 2009 10:59:34 -0500

The picture shown above was taken for Mother's Day 2009. From left to right: Alex, our daughter-in-law (Ben's wife); Luke, Ben, Emily, and Elliot.

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Unlocking the Mystery of VA Appraisals in Kitsap County WA

Fri, 15 May 2009 16:08:06 -0500

“And you will know the truth, and the truth shall set you free.”

John 8:32

Okay, so the topic of VA appraisals here in Kitsap County WA isn’t on quite the same level playing field as Biblical Truth, but the principle is still the same.

One of my marketing catch phrases is ‘providing knowledgeable empowerment’ for my clients. By that, I mean, one of my primary goals is helping to more fully educate my clients through my years of experience, training, and education as a real estate professional, so as a result, they are more empowered to make intelligent and prudent decisions regarding buying or selling real estate.

One of the potential pitfalls of a VA loan transaction is the appraisal process. To learn more about how Buyers can better anticipate possible VA appraisal issues, go to SOUNDBITEBLOG (opens up into another window for your viewing ease).

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"Don't Throw Out the Baby with the Bath Water!" Balancing Your Marketing

Fri, 15 May 2009 14:27:55 -0500

With all the hype and hoopla about using blogging and social media to promote/grow your business, there is a tendency for many to ignore or neglect the more tradtional, time-honored methods of generating revenue.

Let's be very clear on something - blogging and social media ARE NOT the magical purple pill that will solve all your business woes or put you on the road to financial freedom. They are simply more marketing tools at your disposal that can be used in conjunction with your past methods.

Now, it could be argued that a steady, consistent habit of posting to your blog and implementing various social media strategies can be a more effective, efficient use of your time, and produce greater results than many traditional methods. But that shouldn't mean that your forsake such 'old school' tactics altogether. If you've had good success, for instance, from calling on 'Expired Listings,' then by all means, keep on calling. If you generate a steady stream of Buyer Clients by holding 'Open Houses,' knock yourself out!

One of the primary purposes of blogging and social media is to expand and enhance your SOI (Sphere of Influence) digitally, and to engage/foster meaningful contact/interaction.

However, don't allow 'screen' time to rob you of valued 'face-to-face' time, or keep you from performing other marketing activities. Nothing should ever replace the value of making personal contact. Be disciplined in your approach to blogging and social media. Block out very specific time slots during your day for contributing to your blog and to engage your sphere through social media/networking. When the time is up, move on to other tasks.

By balancing your marketing efforts, you'll be able to enjoy the contiuned succes of what is 'tried and true' as well as begin to implement new ways to further grow your business.

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Real Estate Market Report for Kitsap County WA - May 2009

Wed, 13 May 2009 13:35:17 -0500

Real Estate Market Report/Conditions in Kitsap County WA for 05/11/2009 The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for May 2009, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

Properties currently active on the market: 1961
Properties closed in the last 180 days: 944
Average Sales Price: $295,729
Average List Price: $309,030
Ratio of List Price to Sales Price: 96%
Average Days on Market: 106
Sales Pending this Week: 94

Bainbridge Island Stats separately: (Area 170)

Properties currently Active on the market: 332
Properties closed in last 180 days: 102
Average Sales Price: $651,507
Average List Price: $692,622
Ratio of List Price to Sales Price: 94%
Average Days on Market: 135
Sales Pending this week: 9

Home prices in Kitsap County WA continued to drop in April, while pending sales rose sharply.

New numbers from the Northwest Multiple Listing Service show the median $240,000 closing price for a home in April was a 10.7 percent drop from April 2008 and a 2.6 percent drop from March 2009.

Prices are predicted to go down a bit more, with families moving at the end of the school year and the supply of available homes growing slightly.

Meanwhile, the 377 pending home sales in Kitsap County WA in April was a 44 percent jump over the same month a year ago. That figure was by far the highest of all 19 Washington counties tracked by the NWMLS and four times the average of those 19 counties.

Top neighborhoods for pending sales in Kitsap County WA were West Bremerton, East Central Kitsap, East Bremerton and Bainbridge Island, according to the NWMLS.

Due to the drop in home prices, the current dampened market gives first-time homebuyers an opportunity to jump in. Under new stimulus rules to encourage home-buying, first-timers who purchase a home in 2009 can earn an $8,000 credit on their taxes. The Secretary of HUD recently announced that the $8,000 tax credit could be used as part of the down payment, giving even greater incentive to the program.

For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound, access my website, Kitsap Life .

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What's the Cost of Your Integrity?

Sun, 10 May 2009 20:05:07 -0500

There is a Bible story in the Old Testament that never fails to amaze me, no matter how many times I read it.

It's the account of Esau selling his birthright to his brother Jacob for a bowl of soup (Genesis 25:19-34).

To understand the full weight of this story, you really need to understand the extreme value and importance the Jewish people ascribed to the firstborn son. It was a position of great privilege, prestige, and status. It afforded a double portion of the Father's inheritance. And, prior to the Levitical Era, assigned the responsibility of family Priesthood.

And so it is with great bewilderment that we find Esau exchanging this most coveted title to his younger brother Jacob for a mess of pottage.

A life-long position/title of privilege, prestige, and status sacrificed for a brief, temporal satisfaction of fleeting hunger.

Sounds all too familiar, doesn't it? We tend to scoff at the stupidity and poor short-sighted judgment of Esau, and yet, all around us we see the same kind of things happening.

The US political landscape is rife with disappointing and disheartening examples of public figures who have relinquished positions/careers of authority and trust, and traded them for momentary pleasures.

Even within our industry, there is the temptation and danger of 'selling out' in order to achieve some short-term financial gain. Especially with the market being as slow and challenging as its been. People are desperate to make ends meet and become increasingly vulnerable to a lapse in ethical judgment.

As real estate professionals, many of us are required by law to take continuing education courses on ethics each time we renew our license. We're familiar with the NAR Code of Ethics and could probably recite one of the 17 articles from memory.

But do we really take such training to heart? Do we allow these principles to become a vital, living/breathing part of who and what we are?

Or, like Esau, do we quickly compromise our position of trust, and jeopardize our careers, for some brief, temporal gain.

None of us are immune to such indiscretions. They typically start out as seemingly small, insignificant, and easily justifiable actions. Just this once, we tell ourselves. No one will know.

But the next occurrence becomes all the more easier to commit, and soon, a habitual pattern emerges.

So the question I want to pose to the collective ActiveRain brain trust is this:

How do you personally protect your ethics and integrity? What practical preventative measures can we put into place that will help to prevent us from falling prey to such alluring enticements?

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RE BarCamp - Real Estate Savvy Concentrate

Fri, 08 May 2009 18:53:49 -0500

It's really exciting to see these event popping up all over the country! It's especially encouraging when you can include local brokerages, realtor associations, and the local MLS providers. The more people we can encourage to engage in social media, the greater the benefits will translate to consumers.

Via Benjamin Clark - Exclusive BUYER'S AGENT - Certified Negotiation Expert - SLC, UT (Homebuyer Representation, Inc.):

RE BarCamp is a fabulous FREE day of sharing and learning.

What makes a BarCamp the best event you'll attend this year? YOU set the agenda. YOU come to learn and to share only the things YOU are interested in!

The main focus of the Salt Lake BarCamp on June 5th is Social Media & Technology.

Topics Include:

Blogging

Twitter

You Tube

Facebook

Search Engine Optimization

Podcasting

Web Marketing

Google

and MORE!

Come learn about the tools and technologies successful agents are using in this economy. Have YOU found a tool or strategy that has helped your business? Come share it with a group of people EAGER to listen!

BarCamp is:

fun

interactive

fulfilling

exciting

refreshing

eye-opening

motivating

inspiring

powerful

FREE

You can't afford NOT to come to this FREE event if you want your business to thrive like never before, even in this economy!

There will be a wide variety of topics and no hard selling of products or services. This is about SHARING information so that we can all take our businesses to the next level. Recent BarCamps in Phoenix, LA, New York and many other major markets have had as many as 50 or more sessions, all within 1 amazing day of opportunity.

RE Bar Camps are FREE for attendees. There are prizes and giveaways. Lunch will be provided for AT LEAST the first 100 who register, so don't delay!

Register NOW at www.rebarcamp.com/slc/rsvp/

DATE: Friday, June 5th, 2009

TIME: 9 a.m. - 4:30 p.m.

PLACE: Salt Lake Board of Realtors Campus
230 W. Towne Ridge Parkway, #200
Sandy, UT 8407

Anyone who has ANYTHING to do with a Real Estate Transaction is invited to attend. Again, this is FREE. All we ask is that you register.

"The Love of My Life" - Another Wordless Wednesday on the Kitsap Peninsula WA

Wed, 06 May 2009 08:02:40 -0500

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This photo was taken last Summer while we were out on our boat, crabbing on Hood Canal WA.

Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

Real Estate Market Report for Seabeck WA - May 2009

Tue, 05 May 2009 14:20:40 -0500

Here is the real estate market report for NWMLS Area 145 - Seabeck WA - as of May 5, 2009.

Current Active Listings: 90

Sold in Past 6 months: 39

Average Sales Price: $ 267,204

Average List Price: $ 287,080

Ratio of LP vs. SP: 93%

Days on Market: 142

Pending this week: 3

The market indicators here in Kitsap County WA seem to be showing a welcomed improvement in overall activity and sales. Part of this can be attributed to normal seasonal changes/dynamics, but there is clearly a notable increase of Buyer activity taking advantage of low rates and home price reductions.

Olympic View Marina projects hits temporary snag

The long anticipated Olympic View Marina project hit yet another temporary setback recently when the proposed lender pulled the plug on their financing. This action, by no means, bears any negative reflection on the viability of the project or the solvency of the LLC partners. Many banks and lending institutions have been suffering from the recent economic downturn and mortgage crisis, and are greatly curtailing or eliminating funding, especially for commercial construction projects.

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Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

Real Estate Market Report for Poulsbo WA - May 2009

Tue, 05 May 2009 13:49:30 -0500

Here is the real estate market report for NWMLS Area 166 - Poulsbo WA - as of May 5, 2009.

Current Active Listings: 149

Sold in Past 6 months: 56

Average Sales Price: $343,698

Average List Price: $357,907

Ratio of LP vs. SP: 96%

Days on Market: 98

Pending this week: 11

SR 104 - Hood Canal Bridge 2009 Closure

The Hood Canal Bridge is currently closed for six weeks (beginning May 1st) to allow work crews to replace the east half of the bridge and the east/west trusses. For full details, access the WSDOT website.

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Real Estate Market Report for Silverdale WA - May 2009

Tue, 05 May 2009 13:39:38 -0500

Here is the real estate market report for NWMLS Area 147 - Silverdale WA - as of May 5, 2009.

Current Active Listings: 82

Sold in Past 6 months: 54

Average Sales Price: $ 266,713

Average List Price: $ 277,814

Ratio of LP vs. SP: 96%

Days on Market: 106

Pending this week: 10

from the Kitsap County WA website:

Anderson Hill Road Widening and Channelization Project
(at the intersection of Apex Road))
Work begins Monday, May 4, and is anticipated to be complete by the end of June 2009.This project consists of widening to accommodate (2) 12-foot lanes, (1) 12-foot left-turn lane, (2) 4-foot paved shoulders and associated drainage improvements on Anderson Hill Road. A contract was awarded to Primo Construction from Sequim, Washington, on April 27, 2009.
Click here for more information

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Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

"The Art & Risk of Offering Less" - Buyers in Kitsap County WA

Sun, 03 May 2009 11:06:55 -0500

This is the 3rd and final installment in a series entitled “The Art of Offering Less” and deals with the unique nuances associated with tendering an offer that is lower than the asking price.

In the 1st article we discussed the market dynamics that tend to encourage or breed low offers.

In the 2nd article, we shared various strategies for Buyers to achieve success with low offers.

In this final part, we’ll talk about the risks that are inherent with making low offers.

To read the rest of this article, simply click through to SOUNDBITEBLOG. (Opens in a separate window for your viewing ease)

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Seclusion Awaits You on 5 Acre Hood Canal/Olympic Mtn View Home

Sun, 03 May 2009 10:37:54 -0500

Expert Panel sponsored by RE Base Camp/Claudia Wicks HUGE Success!

Fri, 01 May 2009 22:42:33 -0500

This past Wednesday I had the extreme privilege of representing ActiveRain on a panel of social media/technology experts for the Seattle King County Association of Realtors in Bellevue WA. The event was organized and sponsored by nationally acclaimed speaker/trainer Claudia Wicks of Real Estate Base Camp.

The panel consisted of Yours Truly; Dan Mc Comb, Co-Founder of Biznik.com, a social network for small businesses entrepreneurs; and Denise Seavitt, CEO of Seavitt Real Estate, a very successful and highly regarded Broker in the Seattle area.

I was truly honored to be associated with such incredibly cool and tech-savvy professionals.

Dan has done an amazing job of launching Biznik.com and has gained some HUGE traction. Be sure to check out their website and get something started in your own neck of the woods!

Denise has achieved a level of success and accomplishment that few ever reach in our business. She attributes a great deal of that success to the effective implementation and disciplined use of her database.

Claudia was her usual gifted self as moderator and kept things moving along at a steady clip. Claudia has this amazing talent for emphasizing and reinforcing key points throughout the event, helping to ensure greater retention value.

I especially enjoyed this event because the participants were clearly engaged and encouraged to pose questions. The information shared by the panelists was both practical and beneficial, rather than the typically theoretical or overly-technical content normally espoused at such venues.

A HUGE kudos to Claudia for organizing and sponsoring this event, and to the Seattle-King County Association of Realtors for recognizing and understanding the value of social media/technology in our business today.

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DeWatto Bay off Hood Canal WA - Another Wordless Wednesday

Wed, 29 Apr 2009 17:03:36 -0500

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This photo was taken just down the road from my stunning view property listing at 3072 NE DeWatto Road in Tahuya WA.

"The Art of Offering Less, Part 2" - Advice for Buyers in Kitsap County WA

Tue, 28 Apr 2009 01:20:01 -0500

In our last episode, Bill and Betty Buyer were sitting down with their trusty Agent, Realtor Ron, to draft an offer on their dream home. They had spent the past 3 weekends touring dozens of potential properties, when they finally found just the perfect place!

When it came time to discuss the offer price, Bill proudly asserted, “We’re going to offer them $50K below the Listing price, and ask them to pay closing costs too!”

Pulling his jaw off the floor, Realtor Ron looked down on the MLS data-sheet for the subject property.

“Their home has only been on the market for less than two weeks,” Realtor Ron stated.

Pulling up statistics for several comparable properties in the same neighborhood that had sold in the past month, Realtor Ron showed the Buyers how the property was actually priced very aggressively, below many of the most recent sales. In addition, a quick check on the County Website revealed that the home was priced just below the property tax assessed valuation as well.

“But it’s a ‘Buyer’s Market,” responded Betty Buyer, “Aren’t all Sellers desperate?”

Will Realtor Ron write up the low offer? Or Will Bill and Betty Buyer realize the err of their ways? To discover the outcome to this dilemma, tune in to SOUNDBITEBLOG.

For Part One of this Series, go HERE.

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"The Art of Offering Less" - Buyers in Kitsap County WA

Sun, 26 Apr 2009 13:14:37 -0500

Just about everyone enjoys finding a bargain. We love to find stuff on clearance or discover a really sweet deal!

There is this tendency when the market softens and slows down for Buyers to expect greater bargaining leverage when it comes to home sales prices.

Typically, when a market shift takes place that favors the Buyer (commonly referred to as a ‘Buyer’s Market), there is high level of inventory of homes available for purchase. At the same time, as ‘Days on Market’ increase (the number of days on average that it takes for a house to sell/close), Sellers begin to reduce or discount their listing price. Add to that the number of recent short sales and foreclosures that have occurred due to our current economic conditions, and you have the potential for finding some really excellent bargains for today’s Buyers.

So what is the effective Buyer strategy for making an offer for less than the asking price?

To discover the answer, just click on over to SOUNDBITEBLOG!

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"Got Crab?" - Another Wordless Wednesday from the Kitsap Peninsula WA

Wed, 22 Apr 2009 08:56:46 -0500

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This picture shows the day's catch of Dungeness Crab from Hood Canal WA.