Playin' In The Rain: A Guide to Seattle Real Estate

Robopedia: Short Sale vs. Distressed Property

2008-11-21T17:35:11Z

It is easy to get all mixed up with the vocabulary swirling around the real estate market these days. Two very confusing terms being thrown around right now are short sales and distressed properties. While the two are similar and many times both are involved in the sale of a home, they are not the same thing.

Robopedia:

Short Sales - When a seller is selling a home and the proceeds of that home will not be enough to cover the loan amount that the seller owns on the home.

For example, If you refinanced your home for $500K last year and put your home up for sale for $480K, that sale is officially a short sale.

Distressed Property - A home where the seller is at least 30 days behind on a payment of a loan that used the property as collateral. This could be a home loan, home equity line of credit, construction loan, etc.

So if someone has fallen behind on payments and is selling their home, but the proceeds from the sale will be enough to pay off all loans owing on the home, then it is a distressed homeowner situation but not a short sale.
If a seller is selling their home and is current on the payments but the proceeds from the sale will not be enough to cover the loans owing on the home, then it is a short sale but not distressed.
If a seller is at least 30 days behind on loan payments and the proceeds from the sale of the home will not cover the loan debt, then it is officially a short sale and a distressed homeowner.

The situation for a potential buyer is different in each situation and the pitfalls can be significant. Be sure to get some good advice before attempting to buy a property in any of the above situations. They can offer some of the best deals in the market, but also come with some extra baggage. The world of real estate is in a rapid state of change at the moment and this stuff isn't even clear to many agents.

Give me a call if you need help.

Cheapest Homes In Seattle: The Skinny on Short Sales

2008-11-16T17:20:26Z

There is a lot of buzz in the Seattle media about short sales. So what the heck are they anyway, and how can they save you tens of thousands of dollars on a home?

Put simply, a short sale is when a home owner is trying to sell a house, but the proceeds from the sale of the house will not be enough to cover the loans currently owing on the home. So the seller will need to get bank approval once a buyer makes an offer on the home, because the bank will not get all of their money back when the home sells.

Why is this a big deal?

A short sale situation can be a big deal as far as the time it takes to close on the house. Because of the extra step of having to get bank approval, the process can take several extra weeks to several extra months to complete. Each bank has its own process for considering short sales and not all of them are very efficient. Part of the problem is the volume of short sales that many banks need to consider. There are a lot more now than a few years ago.

The time lines are a serious consideration. Take a client of mine right now. They are first time home owners who don't have a lot to spend on a home. They found a house they like but it is a short sale situation. They decided to move ahead with the offer. We agreed on terms with the seller, did an inspection and the offer went to the bank. The timeline has been delayed several times by the bank. First they told us a few weeks now it is looking more like about a month and a half. In this situation the bank has all the power and can take almost as long as they want to make a decision.

So why would anyone consider buying a home that is subject to a short sale?

Quite simply price! If a seller is not going to make any money on the sale of their home anyway, you can imagine they are much more flexible on terms and price of the sale of their home. If you are the only person making an offer on the home, the bank will need to take the offer seriously, even if you offer significantly less than the asking price for the house. In many Seattle neighborhoods, short sales represent some of the best deals around. In the case of my buyers, we will get the house for nearly $75K less then what the house was refinanced for just a year and a half ago. Well below market value. (I won't tell you the value of the home because the negotiation is still going on, but it is well below $300K)

In short (pun intended) there is no reason to be afraid of a home that will be subject to a short sale. In fact they may be some of the best values out there. Just be prepared for a longer timeline, a little more hassle and be sure to use an escrow company, mortgage company and if I may be so bold, real estate agent with some experience in short sales. You may just find that hidden gem at a bargain basement price.

Happy Hunting

Free Advice: Integrating Active Rain, YouTube, Twitter and Facebook

2008-11-08T12:05:44Z

I am sure there are a lot of you out there who are just like me, trying to figure out how to use all these different on-line platforms effectively and integrate them to get the maximum bang for your free bucks. I thought I would create a post showing what I am doing with the platforms I have found most useful. Please check them out and give me your feedback, but especially if you have found things that work that I have not included please let me know what you have found.

YouTube:

Recently I created a YouTube Channel that I named RainCityRealEstate. It is more or less a video blog page highlighting my home town and offering instructional videos created by me. Setting up the channel is about as complicated as setting up a blog. Believe me it is almost idiot proof (and I should know). I make simple videos with my Cannon Power Shot camera edit them using Windows Movie Maker, and post it on my channel. I have tried to keep it simple and let people see my personality in a clearly non-professionally produced video.

In addition there are videos I have found from others highlighting specific neighborhoods in Seattle, or interesting events in Seattle that I feature on the channel.

There is a place for anyone to leave comments and also subscribe to receive future videos as I create them and display them.

So far I have had a subscriber and I am just getting started!

I also have the URL for my blog displayed on the channel for an additional link back to my blog. And Links = Good

Please feel free to check it out and leave me a comment or suggestion.

http://www.youtube.com/user/RainCityRealEstate

Active Rain:

I have been an Active Rain member for about 8 months. With YouTube it is easy to capture the HTML code and past it in the AR format. I add my own comments and VIOLA! I have a video entry on You Tube and the identical video on my blog with my comments. Two shots out to the public for the price of none.

I try to post traditional posts as well that do not have video content in between the video posts so that it is more interesting and less visually boring to the observer.

Again I try to be as genuine as possible and only post things that would be of interest to those who might be shopping or selling in the Seattle area.

http://activerain.com/blogs/robgraham

Twitter:

This has taken me a while to figure out and I have to admit I am not quite there yet. Twitter is a micro blogging site that asks only one question. "What are you doing now?" You can tweet back and forth as many times as you want per day. I have to admit that I am not quite sure of the value of this, but some people swear by it. The one true value I do see is that you can post the URL to any new blog post to it automatically. You may have seen this option on the post page of AR.

I actually have several people who have started following me on Twitter and almost the only thing that I am posting is URL's of AR blog posts.

This creates an additional "back link" to your blog. Long story short, the more links to your blog or web site the more important Google thinks you are. So links = good.

http://twitter.com/RobGraham

Facebook:

Ok, finally Facebook. Facebook is a social network web site to make and keep in touch with friends. Think of it as an ongoing sphere web site that allows you to post comments, pictures, favorite movies music or links. One of the valuable things about this is that similar to Twitter, you can post a link to any location that has a URL. So when you create a new post, video or find an interesting article about anything, you can post the URL. Facebook then allows you to add comments, choose a photo and send it out to everyone who views your Facebook page.

Again this creates another "back link" and links = good.

Facebook also allows you to post comments to anything your "friends" are doing or posting. You can also update what you are doing such as, "off showing houses on Capital Hill". Everything is updated to anyone who cares to see it, so it is a great way to remind everyone that you are still an active agent.

All of these platforms are linked to one another as much as possible and back to my web site. Remember links = good.

http://www.facebook.com/people/Rob_Graham/584838653

So that is what I am doing. Please check me out on YouTube, Twitter, and Facebook. Feel free to leave me comments and suggestions. Let me know what you are doing and things you like or dislike about what I am doing. If you want to be my friend on Facebook, follow me on Twitter or YouTube, that is all encouraged as well.

Hopefully, we are all taking the time in this market to upgrade our technology and knowledge to gain every advantage we can.

Hope it helps.

Cheers

How Much Home Can you Afford?

2008-11-06T12:29:22Z

If you are up to a year away from buying a home, now is not the time to be talking to a bank. Here is my recommendation for what you can be doing right now to put yourself in the best position when the time comes to buy your home.

Free Starbucks Coffee

2008-11-03T10:07:19Z

Seattle based Starbucks is hosting a promotion to try to encourage or at least reward people for voting. If you go into a Starbucks tomorrow and tell them that you voted, they will offer you a free coffee.

Can I vote more than once?

http://www.starbucks.com/

Spring Ahead, Fall Behind, Change your Batteries.

2008-11-01T16:51:42Z

Ok, so it doesn't rhyme, but you get the idea. It is recommended that you change the battery in your smoke and Co2 detectors twice a year. An easy way to remember to do so is to change them in the spring and fall when you adjust your clocks for daylight savings. Tonight is the night we all need to wind those clocks back and gain an hour of sleep (or whatever frivolity you plan on doing tonight). So go buy new 9 volts and trade out the old ones. It's cheap and keeps your family safe.

Now if there were only a way to protect the family from leftover Halloween candy, Hmmmmm.

How to Prepare your Home for Sale

2008-10-31T14:32:26Z

Home owners!

Before you run out and spend thousands of dollars to remodel you home to get it ready to sell, watch this video. You may be surprised at what you need to do and more importantly, not do, to get your house ready to sell.

September '08 Average Seattle Condo Prices

2008-10-30T18:23:00Z

As promised here are the latest numbers for Seattle condo prices. Below the graph is the raw data for the past four years. Funny that the numbers are een more encouraging then those for single family home prices. We are only off 4-5% from the hoghs of a year ago.

As with single family home prices, the numbers vary greatly from neighborhood to neighborhood. If you would like to see the data for a particular neighborhood, leave me a comment and I'll be happy to post it.

Date	10/04	2/05	6/05	10/05	2/06	6/06	10/06	2/07	6/07	10/07	2/08	6/08	9/08
For Sale	758	622	513	560	502	670	927	902	1381	1642	1490	1631	1584
Sold	238	231	364	278	210	312	259	230	401	240	214	229	180

Months of Inventory based on Closed Sales	3.2	2.7	1.4	2.0	2.4	2.1	3.6	3.9	3.4	6.8	7.0	7.1	8.8


Avg. Sld Price	271	292	310	341	301	322	347	356	351	371	364	399	340


Sold/Orig LP Diff. %	97	101	99	99	99	99	98	99	97	96	96	95	94

Avg CDOM	0	0	43	35	45	33	38	58	47	66	81	87	107
Median Price	240	252	262	264	255	274	283	322	300	317	304	318	308

September '08 Seattle Home Prices

2008-10-29T17:40:33Z

I know you guys love to hear the stats. I am happy to oblige. Here is a graph showing what the current median home price is doing in Seattle. Below the graph is the raw data for those of you who want to dig into it. The price for the most recent month of $420K is down roughly 13% from the highs of June 2007. Keep in mind a couple of things: First of all prices typically spike in the summer so it is best to compare year over year at the same time of year. We should expect prices to flatten out or dip a little further this winter. Also, keep in mind that the value within a specific neighborhood may be very different then the overall Seattle stats.

If you want to see a specific neighborhood, let me know and I can post it.

I'll post the condo stats tomorrow. Enjoy.

Date	10/04	2/05	6/05	10/05	2/06	6/06	10/06	2/07	6/07	10/07	2/08	6/08	9/08
For Sale	1742	1320	1489	1701	1333	1631	2083	1546	2319	2961	2678	3128	3210
Sold	735	561	952	789	538	944	669	544	861	511	454	571	448

Months of Inventory based on Closed Sales	2.4	2.4	1.6	2.2	2.5	1.7	3.1	2.8	2.7	5.8	5.9	5.5	7.2


Avg. Sld Price	404	429	506	487	479	545	524	501	570	583	548	587	484


Sold/Orig LP Diff. %	98	100	99	99	99	99	99	98	98	97	95	95	94

Avg CDOM			30	35	49	35	34	58	39	49	79	64	81
Median Price	340	360	404	400	408	450	445	432	475	450	448	460	420

Using Seasonal Photos to Sell Your Home.

2008-10-29T16:05:21Z

Hey gang,

Here is my latest video talking about taking photos throughout the year so that you have them when it comes time to sell your home.

For more videos check out my you tube channel:

http://www.youtube.com/user/RainCityRealEstate

Are gas prices a sign of things improving?

2008-10-29T15:59:16Z

I took this photo this morning on my way to the office. I know it isn't earth shattering but I think it is a big deal. Just a few months ago we were all scared that gas prices were going to hit $5 per gallon and now we are looking at almost half of that.

Gas prices along with the Dow in my opinion are the two biggest gauges that people use to determine how the economy is going.

It makes perfect sense too. On your way to work or to drop the kids off as school, you are bombarded with dozens of neon billboards reminding you how much we need to pay per gallon. If the prices are higher than they were last week, you feel a bit of a tug on your wallet. The opposite is true if the prices are coming down.

Gas prices have a wide effect on the economy as well. Gas Prices affect the cost of everything in this country that is delivered by truck or plane, which is almost everything. With the election next week, and gas prices down I think there is reason for people to feel a little better. Now if we could just get the stock market to calm down maybe we would all go back to normal.

Just thought I would share.

Shoud I do an inspection when I buy a home?

2008-10-28T17:25:32Z

Hey gang, here it is. My first attempt at video blogging. Let me know what you think.

Also I created a utube channel with lots of other videos either that I made or that are of interest to Seattle and Seattle Real Estate. Check it out and let me know what you think.

http://www.youtube.com/user/RainCityRealEstate

Seattle Home Prices are up 27%

2008-10-20T18:23:25Z

With all the doom and gloom in the media and in public perception regarding home prices, I thought I might add a little perspective. Yes prices in Seattle are down, (THIS YEAR). Yes, it is a buyer's market. But if you take a step back and not look so myopically, you see that home prices in Seattle over the past five years are actually up dramatically.

For example, since October 2003:

North East Seattle Median Single Family Home Price is up 38%

North East Seattle Median Condo Price is up 28%

North West Seattle Median Single Family Home Price is up 33%

North West Seattle Median Condo Price is up 27%

Yes, if you bought last year and need to sell now, you are in trouble, but considering the average time horizon of home ownership, most of us are just fine.

Unfortunately human tendency is to look only at the immediate.

The Sky is not falling!

Remember 2003, we were all dressed in animal skins, fire had just been harnessed, and we all looked forward to the day someone would invent a better club so we could scare off the Tyrannosaurus outside our cave. NO, it wasn't that long ago. Take a deep breath. With all due respect to the 1 in 1,600 of the Seattle population that is facing foreclosure, everyone relax. We will get through this. It is temporary.

Video Tour of West Seattle

2008-10-17T18:36:43Z

In honor of my latest listing in W. Seattle, I thought I would share this great video tour of W. Seattle.

PS if you want to see more videos of Seattle Neighborhoods or just Video of Seattle in general, I am trying to organize the best ones that I find. Check them out here:

http://www.youtube.com/user/RainCityRealEstate

FHA Preapproval and Non FHA Approved Condo Complexes

2008-10-17T18:15:13Z

FHA financing used to be only for a select few. With the recent changes to the mortgage world, FHA has become much more popular and is in fact one of the most attractive financing options currently available when buying a home.

WHY?

Under FHA approved loans, you can put as little as 3% down toward a home. Significantly less than the 5-10% typically needed for a conventional loan. In addition, the amount that you can negotiate a seller to put toward your closing costs is significantly higher.

In cities like Seattle, FHA loans have the greatest appeal to those who are looking for their first home or make less than a million dollars per year (ie. most of us). Condos are attractive options for this group.

But FHA loans only work on a project if they are FHA approved right? Not necessarily.

If a particular condo complex is FHA approved then there is no problem. Using your FHA loan to make an offer. If it is not, then you will need to have your agent get a hold of the FHA Spot Approval. It is basically a checklist that your mortgage agent needs to have filled out by the condo association rep. to make sure that the projects financial situation is secure. If the complex has no major red flags, such as a law suit against it, or a significant pending special assessment, then everything should be fine.

So go ahead shop your hearts out, and if you find the perfect condo and are concerned about FHA, breathe a sigh of relief. It isn't as difficult as it sounds.

W. Seattle Condo for $329,950: 5000 California Ave SW. #203

2008-10-13T13:07:03Z

Rob Graham | Windermere Real Estate | 206-321-6349

5000 California Ave SW #203, Seattle, WA

Alaskan Junction Condo with Partial Sound View

2BR/2BA Condo

offered at $329,950

Year Built	1984
Sq Footage	1,283
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	1 Car garage
Lot Size	Unspecified
HOA/Maint	$355 per month

DESCRIPTION

One West Condos is located just blocks south of the Alaskan Junction in W. Seattle. This spacious home, has a full size washer dryer, stainless steel appliances, deck, wood fireplace, and a peek-a-boo view of the sound. Ignore your 401K. This is the home you have been waiting for.

see additional photos below

PROPERTY FEATURES

Central heat	Fireplace	Walk-in closet
Living room	Dishwasher	Refrigerator
Stove/Oven	Stainless steel appliances	Washer
Dryer	Balcony, Deck, or Patio

COMMUNITY FEATURES

Garage parking

Guest parking

Storage space(s)

ADDITIONAL PHOTOS

Seller contact info:

Rob Graham

Windermere Real Estate

206-321-6349

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 13, 2008, 10:59am PDT

Sewer Scopes they're Pooptacular!

2008-10-09T17:02:49Z

When doing an inspection:

Always get a sewer scope!

A sewer scope is an additional inspection that costs about $200 but is one of those things you don't want to buy a house without knowing. During a sewer scope they put a camera down the sewer line to see if there is any damage to the line. Often they find tree roots that need to be removed but other times they can find actual damage or whole collapsed lines. The cost to fix them can run in the tens of thousands of dollars and become your problem after the close so you need to know about them before hand.

Let me tell you a little story:

Several years ago a friend of mine was selling her house. The potential buyer did a sewer scope and found a complete collapse. The estimate to fix it was in the neighborhood of $40,000. That's a 4 with 5 zeros! Something you would certainly want to know.

Side note:

The scope isn't necessary for condos since the association is responsible for the maintenance of the sewer line for condos and co-ops.

Just like a regular inspection and a title search, you hope they show nothing and they typically do, but when they do find something it makes the $200 you just spend seem like candy.

Always Attend The Home Inspection

2008-10-07T16:31:32Z

I have an inspection this afternoon that I helped a buyer client of mine purchase which brought this little nugget of wisdom to mind.

You should always plan on attending the inspection.

Inspections take about two hours for the average size home. If you need to get a sitter, put in for a day off or just plain play hooky, you want to be there. The inspector will go over the entire house. They will look at all major systems and offer all kinds of advice. An inspection is not a pass fail thing.

Every inspection will find something that need to be addressed even on homes that are just built.

While the inspection is going on, it is good to be present as a buyer because a good inspector will point out things that you will want to know even if they are not things that need to be addressed immediately. For example the approximate age of the roof and hot water heater, recent code updates, how to earthquake proof appliances, etc. All things that you as a home owner, especially first time home owners, will want to hear. It is all great information and the more you have the more you can avoid problems in the future.

Give me a call if you need help.

Fantastic Video of Pioneer Square, Seattle WA

2008-10-07T01:24:17Z

Ok, I am a big enough person to admit when someone else is better at something then me. I was on You Tube and found these fantastic videos about various neighborhoods in Seattle. They do a far better job showcasing the neighborhoods and are hosted by some great local people. There are several I love, but rather then inundate you with all of them, I think I will sprinkle them in on occasion among my other posts. Here is one about Pioneer Square.

Enjoy!

Visit More then Once!

2008-10-02T16:15:57Z

When you are considering buying a home visit the home at different times of the week and at different times of day. During any one visit you may not notice that there is no sunlight in the backyard or that there is significantly more road noise during rush hour. A bedroom my get significant morning light which can effect heat and the ability to sleep late. The more different perspectives you get on a home, the more informed your choice will be.

Happy Hunting.

2 Bedroom Magnolia Home for $440K: Seattle, WA

2008-09-30T13:56:05Z

Rob Graham | Windermere Real Estate | 206-321-6349

4564 36th Ave W, Seattle, WA

Live across the street from Discovery Park

2BR/1.5BA Single Family House

offered at $440,000

Year Built	1948
Sq Footage	1,800
Bedrooms	2
Bathrooms	1 full, 1 partial
Floors	3
Parking	Unspecified
Lot Size	6,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

Welcome home to this fantastic two bedroom home.

Situated in one of Seattle’s most sought after neighborhoods, this home boasts 1,800 square feet. Directly across the street from Discovery Park and less then a mile from Magnolia Village and Fisherman’s Terminal.

Entertain in the oversized living room with picture windows, fireplace and gleaming hardwood floors. Enjoy barbequing on the back deck on sunny summer days.

Additional space downstairs makes an excellent location for a third bedroom, play room for the kids or exercise room for yourself.

see additional photos below

PROPERTY FEATURES

Central heat	Fireplace	Hardwood floor
Living room	Dining room	Dishwasher
Refrigerator	Stove/Oven	Basement
Washer	Dryer	Laundry area - inside
Yard

ADDITIONAL PHOTOS

Seller contact info:

Rob Graham

Windermere Real Estate

206-321-6349

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 30, 2008, 9:38am PDT

Whites Only: Racism on Title, Seattle Real Estate

2008-09-29T13:39:29Z

Another agent in my office came across this in a title report and I had to share it.

It isn't unusual for neighborhoods or housing developments to have covenants, conditions and restrictions (CC&R's) similar to condominium complexes. Many of them state that there is a fee for common features like maintenance of a park or bike path. They usually specify that the house needs to be maintained to a certain standard and that you can't park an RV in the front yard yadda, yadda, yadda. All very common items. But this, I was not ready for.

When CC&R's are recorded for a neighborhood they are also recorded on title. If the property does not change hands for many years those restrictions are often not updated. The following, dated April of 1941, was included on a recent title report under the CC&R's:

"No person of any race other then the White or Caucasian race shall use or occupy any building or any lot, except that this covenant shall not prevent occupancy by domestic servants of a different race domiciled with an owner or tenant. "

Thankfully the agent read the title report and had the offensive paragraph removed. While such restrictions are now illegal, they were quite common in yester year. I guess you can look at this one of two ways. You can be shocked, horrified, saddened or even guilty.

OR (as I choose to look at it)

You can be glad that we have come out of that era. Granted, we haven't come as far as we could, but still, I think we are better off then 1941 as far as race relations in this country. A black man is leading in the polls to become the first black president after all. (and yes I said "black man". For those of you that prefer African American feel free to insert your term of choice. I choose to say "black" because my "black" friends prefer the term "black". I mean no disrespect.)

Who knows what another 67 years will bring us. Just think the 40's are nearly half way between us and the Civil War. In another 67 years who knows what we might see. We might even have an all gay republican ticket. (and yes I said "gay" because my "gay" friends prefer the term "gay". I mean no disrespect) In 67 more years, perish the thought, we might actually start referring to individuals and not even refer to their race, creed, sexual orientation, etc. and not have to apologize in parenthesis for using the term black or gay.

Dare to dream.

Magnolia Seattle Estate Sale Update

2008-09-22T20:07:28Z

Everyone loves to see the progress on home projects so here is the first update from the Magnolia Estate Sale. Here is a quick update. Myself and another agent were contacted to list an estate sale home in the Magnolia neighborhood of Seattle. We gave a list of preparation suggestions that the family is happy to follow through on. Here is the progress so far.

First here are some pictures of the house as it looked when we first saw it.

Then we had an estate sale to get rid of the contents:

Then we had it painted:

Today the sanding and finishing of the floors starts.

Later this week we are going to stage and do landscaping:

Total price to the owner is in the neighborhood of $10,000. Money I am absolutely positive they will make back on the sale. The house should be listed next week.

Stay tuned.

Free Marketing for a Cause: Seattle's Non-Profits

2008-09-11T15:46:03Z

Here is an idea that can make you money and cost you nothing up front.

A good friend of mine works for The Snow Leopard Trust, here in Seattle's Wallingford neighborhood. The trust is dedicated to protecting the snow leopards. In brief, the snow leopards are an endangered species that inhabits the mountainous regions of Southern Asia. Their biggest threat is the people that live in the same habitat. The leopards are hunted by poachers and also by local farmers looking to protect their livestock. The trust is attempting to give an alternative economic avenue to the locals by selling their goods here in the US. By doing so the local people can shift their economic focus and no longer hunt the leopards.

My friend contacted me and asked if I would like to do some advertizing through various avenues. Long story short we have had a meeting or two and here is what we came up with. The trust and I have come up with some marketing that they are going to distribute through various channels. For every client that I receive through their efforts that leads to a successful close, I have agreed to make a $500 donation in that clients name toward the trust.

For me this is a great avenue because it cost me nothing up front, and others who are full time marketers and in the business of eliciting donations and working with the public, are doing the marketing for me. The already have a data base of donors and are willing to do the work themselves. If it works and I begin to receive clients, I don't need to pay anything until after close.

How many marketing ideas are there, that cost you nothing until you have

already received cash in your hand?

For the trust, they receive one more avenue to receive a donation. It is a win win for both of us.

So in this difficult time, you may want to think a little outside the box. Pick a charity that is near and dear to your heart. It could be your children's school, the local animal shelter, or whatever. Approach them and see if they would have any interest in such a partnership. If it works out, it benefits both you and your favorite charity.

I'll keep you posted on how successful this is.

Magnolia Seattle Estate Sale

2008-09-11T12:39:16Z

Many of you have probably asked the question, "What happens to a persons house and personal belongings when they die?" The answer is that there is usually an estate sale. This weekend there is an estate sale at a listing I will be co-listing later this month. I thought I would take the opportunity to show you how they work.

So when the owner of this home died he willed his estate to his three children. They are located all over the country. The owner's wife passed away several years ago and they have lived in the house for several decades.

The family hired an estate lawyer to act as executor for the estate. He in turn hired us to handle the sale of the home.

The first step is allowing the family members the opportunity to go through the home and remove any personal items they would like to have.

The next step is having the contents removed. For this step we hired a company that specializes in estate sale situations. They have been amazing. Yesterday they came through and in one day, priced and arranged all the contents of the house similar to a yard sale. (See pictures) The actual sale of the items will happen this weekend. All day Saturday and Sunday people can come in and purchase items.

Next week I'll make another post on how the sale went.

On Monday the same company invites non profits and charities to comb through what didn't sell and take anything they think they might be able to use. Later that day a final person is invited through to recycle any items that can be recycled and haul away the items that need to be thrown out.

So here is the timeline:

Wed: Arranging and pricing of all items
Sat and Sun: Estate Sale
Monday: Donation of all usable items, recycling and removal of any remaining items.

By Monday night the house goes from looking like the photos to completely empty.

Then the estate sale company subtracts their costs from the proceeds of the sale and hands the family a check for the balance.

Its amazing and a fantastic service to a family who would rather not be burdened with the trouble of having to do all of this themselves.

Tune in next week for the next update.