Jim's Blog

Lessons from the Flood - Take Cell-Phone Pictures

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 09 Nov 2006 13:53:18 -0600

Well, now that we've had a couple of days to calm down after the near-flood here in Mount Vernon, Washington, I want to pass along a tip.

My wife Kellie and I made the decision late Monday afternoon to "pack and leave" - based on the best info from the weather service. It was a frantic couple of hours, getting the kids organized, etc. But this time (we've done this before)... I realized that taking some 'before' pictures of the house might greatly speed potential Insurance hassles in the coming weeks.

Digital camera? Well, of course. But what about upcoming computer connections?

So before the major packing and moving valuables up on top of shelves... I took about 10 minutes and walked the house, taking pictures with the camera built into my cell phone!

Sounds like a simple idea but the benefits are immediate. First, the cell-phone is always at hand. And taking digital pics is as quick as 'point-and-shoot.' Next: because the pictures are in the cell phone, it's a trivial matter to 'send' them to insurance reps if the absolute worst happens.

Now that the flood threat has passed, I've got about 30 snapshots of our house in the 'before' state. Furniture, stereo, garage/shop equipment, etc. All ready to go. At this point, I'll delete them. But the cell-phone is ready for the next time.

Flood, Flood and, finally, we dodged the bullet.

Ex Realtor (Preview Properties, Skagit, LLC) — Tue, 07 Nov 2006 20:35:45 -0600

For those who haven't followed the news, our hometown of Mount Vernon, Washington has been under 'flood watch' and 'flood warning' for about the past 36 hours. Sheesh.

Not something that we'd planned for, but at the same time, we were fairly ready to deal with it. We spent a frantic afternoon moving computers, placing valuables on top of high bookcases (hoping for the best). Shut off the gas and electricity at the house.

We've got a sailboat at La Conner Marina (about 9 miles west of our home). In the end, we packed the kids, packed the car, and went to the boat for what turned out to be a Great Family Adventure!

Played movies on our wide-screen laptop computers. Listened to the rain on the top of the boat. Watched the tides rise and fall. Checked the latest news on the flood situation via our online computer connection. And this morning, we had a great family breakfast in downtown La Conner.

And as of this afternoon... it seems that it's all over. Thank God.

House Flipping gone Horribly Wrong - Must Read!

Ex Realtor (Preview Properties, Skagit, LLC) — Tue, 31 Oct 2006 21:34:42 -0600

Wow. Turns out that there's a 24-yr-old "Real Estate Expert" in the Sacramento, CA area who has bought no less than 8 properties in the past calendar year. He was a subscriber to the Carlton Sheets program, among others. And he's in a world of ship right now.

If you don't know about the story of this guy, Casey Serin... now is the time to learn. His website is a wildly entertaining read. Throughout his website, he dodges the gray line of what's right and what's wrong.

Worse: He's put enough info on his website that ... well, he can do some serious jail time.

Trust me: EVERY Realtor should take a few minutes to review his website, and his semi-sad story. Start here: http://iamfacingforeclosure.com/1/why-i-am-facing-foreclosure/

And his home page:
http://iamfacingforeclosure.com/

And the news goes on... every day. Just do a Google search on http://news.google.com and enter "Casey Serin"

You'll be amazed. This ... er, 'investor' has lied, cheated, swindled and taken advantage of our current Mortgage Lending System - nine ways from Sunday.

There are lessons here. Many. Again: read and be amazed.

Measure Twice, Cut Once. Wrong = Glass Crash!

Ex Realtor (Preview Properties, Skagit, LLC) — Tue, 31 Oct 2006 20:19:01 -0600

Well, the ongoing saga of the house spruce-up and Appraisal. Power tools are just that: they have power!

So I was working on our patio, cutting the odd bits of wood we needed to complete the project.

I'd clamped these bits of wood to our patio table, so I could get a square, clean cut.

Realize that this is a BIG patio table. Worse: it was glass-topped.

Radial-saw in hand, I tore into a long-ish piece of plywood. Initially, there was a bit of resistance. Then, it glided straight ahead. Glided ahead to the...

CRASHING SOUND OF GLASS! I watched as the entire glass top fell to a pile of broken chunky glass-bits, all over the patio.

Next, I had to walk back into the house, and explain this noise to my wife/partner. Sheesh.

"Honey, I just killed the Patio Table."

Ow.

Now... if I'd just moved that plywood plank about 3-inches over the left edge of the table, there would have been no problem. None whatsoever. Sheesh.

I remember a quote from an old Clint Eastwood movie: "A man's GOT to know his limitations."

On a recent afternoon, I learned mine. Yes I did.

Halloween: Trick or Treat? Chance to Meet?

Ex Realtor (Preview Properties, Skagit, LLC) — Tue, 31 Oct 2006 19:39:15 -0600

This really isn't a 'Blog post, as such... more of a side note about how I passed out a biz card today:

Dropped by the local market this afternoon on the way home from the office. Bought a few things, and stepped up to the register.

"Trick or Treat!" said the cheerful clerk.

"Treat!" I said, as I handed her my biz card on top of my ever-ready debit card.

"Oh... so you're a Real Estate agent?

We chatted for a brief moment about Real Estate.

Turns out she and her new husband are thinking about buying a house, but had no clue about how to find an agent.

Treat!

Hanging or Updating Doors? The Toothpick Trick!

Ex Realtor (Preview Properties, Skagit, LLC) — Tue, 31 Oct 2006 14:44:16 -0600

The wife and I just did a re-fi on our own house, which of course means a fresh Appraisal. Which also meant it was time for a quick spruce-up of the property. And getting around to those interior painting projects we'd been putting off.

As long as we were painting some walls and a few doors, we figured why not upgrade the door hardware? Besides, taking door knobs apart is nearly as easy as taping them off, and as long as they're off the doors… well, you can see where this is going.

Well, it turns out that the door knob hardware from our 50's era house was, well, smaller than the stuff used today. Sheesh. This meant enlarging the holes for the new door knobs, as well as replacing the striker plates in the door frame.

A half hour of ditzing around with a power drill and a wood chisel took care of making the new stuff fit… right up to aligning the new striker plates in the door frame. Where I found off-center holes, long since stripped out by the fumble-fingered efforts of past owners. And just enough off-center that I couldn't get a fresh 'bite' in the wood where the new holes needed to be. Aiyee!

What to do? The Toothpick Trick! The idea is you need to 'build back' wood into the off-center holes so you can shoot a small pilot-hole in the correct location. For this, grab a box of wooden toothpicks, and a bottle of carpenter's wood glue.

Next, dab the end of a toothpick into the glue, and jam it deep into the offending hole. Then bend the toothpick to break it off flush at the top of the hole. Repeat this process until the hole is completely crammed full of glue and toothpicks.

Let this dry for 24 hours, and you're all set to drill fresh pilot-holes exactly where they need to be for the new striker plate.

A quick, simple and strong fix. This fix is also dandy for screws that are flat-out stripped in their wooden bedding, like on door hinges. Pass this along to sellers thinking of updating their home before selling!

Tools of the Trade

Ex Realtor (Preview Properties, Skagit, LLC) — Sat, 21 Oct 2006 19:58:56 -0500

Okay, great. So you're a Realtor, and you have a listing up on the MLS.

Fact is: there a few simple tools that you should have on hand to help you make that listing look ... well, great!

Even better: have these tools available for any current or future listing. It will make a big difference in the appearance of the property.

1) Pressure Washer. I've 'Blogged enough about this in the past. But it makes it easy to sparkle-shine the outsides of any listing. Quick, fast and easy. You can get a good Pressure Washer for about $250. Have it available for any new listing. And let your listing/sellers do the work... you just provide the Pressure Washer!

2) Air Compressor, and Nail Gun. This combination can quickly and easily zap down loose ends of hardwood floors. No more squeek!

3) Air Compressor, and a Staple Gun. This combination can pin down loose carpet ends. In minutes, there's no more loose carpet at the corners of the room!

4) Extension Stick. This one's easy: a long stick that can be screwed onto the end of a window-washing (and other) pole. Lots of uses for a Listed Property. Put one in the trunk of your car, and it's ready to go when you are!

Got these items? Cool! Let me know any I've forgotten!

- Jim Wolcott

House Flipped-Out

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 19 Oct 2006 12:50:08 -0500

It’s easy to understand the popularity of the Reality TV shows. Ordinary people doing extraordinary things, oft times for life-changing windfalls of cash and prizes.

And the current hit show “Property Ladder” is no exception. However, unlike other mostly unreal Reality shows, the Property Ladder dangles the carrot of real-life circumstances that virtually anyone with good credit can pull off: Find a beater house, put in a few months of sweat equity, and walk away with a jackpot like you’d picked 6 of 7 in the Mega Lottery.

That’s the fantasy, anyway… and the Property Ladder show plays it up pretty well. How popular is that show? I can tell you first hand that when the show hit the air, my next months of Floor Shifts had a startling number of calls from folks who were looking for a “fixer” – that was listed for no more than 50% of its corresponding perfect-condition market value. The carrot of easy riches in exchange for a few months behind a paint brush ignited nothing short of a phone stampede at our office.

Well, guess what? Mortgage Lenders and Mortgage Underwriters watch that show too. And in my situation with a recent transaction, it caused more than its share of hassles and complications. Let me set the scene:

Last July, a investor picked up a shabby 3br, 2ba w/garage house on 1/3 acre lot for a mere $140K. This was a foreclosure sale, and the property was listed as Pending the same day it hit the MLS. Somebody was at the right place at the right time. Perhaps, even an inside job. Who knows? But fact is, that property, when fixed up, would pull down a not-too-bad profit.

Guess what? 9 weeks later, that same property did reappear on the market. New carpet, fresh paint, lawn and landscaping fixed up… cleaned up, cleared out and ready to go. For a mere $199K. And even at that price, compared to other properties on the market, it was a relative bargain.

We found buyers for this property. We wrote a strong offer, which was accepted. Qualified buyers, inspections passed, appraisal came in at value, loan approved by the lender, seller motivated (obviously), buyers sold their house with a closing date that would work for both transactions, and everything proceeding smoothly.

Three days before closing, the Underwriter ‘discovers’ that this house had just previously sold just 90 days before, and for a whopping $60K less than shown on the current Purchase-and-Sale agreement. Whoops.

So what’s the problem? The Underwriter smells a scam. How could a property be worth so much more money in just 90 days? Is this, perhaps a conspiracy that involves the seller and the appraiser? Or worse?

Well, from our side, Escrow ground to a halt. The Underwriter has taken the extra step of a “Property Review” – which involves a separate, independent appraisal, and a personal property inspection and review by the Lender. Steps the Underwriter is perhaps wisely taking to protect herself.

And steps usually reserved for those properties that have no direct comparables, or where comparables are ‘pending sales.’

Well, Escrow did finally close – a mere 10 days late. I’m told this could have been avoided by alerting the Lender/Underwriter that this was a ‘cosmetic flip’ situation.

Ten days. In the end, the Underwriter did everything but say that my buyer was lucky to get the loan. Thanks, Property Ladder!

You Are What You Drive? Maybe, Maybe Not

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 19 Oct 2006 12:37:05 -0500

When I started in Real Estate years ago, I made certain assumptions about the business. Among those was that I had to get a “Real Estate Car.” You know, a conservative-looking 4-door sedan. I very consciously chose a Saturn – American-made (which I still feel is important), and a make devoid of ‘brand loyalties” associated with Ford, Chevy, etc.

And I sold my beloved Corvette to make that happen… we all know that the first year in Real Estate is er, ‘financially challenging.’

So after years of driving around in that stupid Saturn, I stopped to realize: how many times had I actually driven clients around in that car? Turned out to be less than once a year.

Well, finances and opportunity came together, and I’m back to driving a Corvette – a bright red one at that. This, as my ‘daily driver’ for Real Estate work!

It’s been four months now. I knew a red Corvette would make a statement… I just didn’t know if it would be a good or a bad one. But the results even surprised me: it’s always a conversation starter (which is good). It makes it fun to drive around to preview properties. And get this: it even gets slightly better gas mileage than my wife’s SUV!

I’d be curious to hear from other Realtors – did you consciously choose a particular car for Real Estate work?

Stolen Laptop Computer = Bad. Lost Data = Worse than Bad!

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 28 Sep 2006 20:26:46 -0500

NOTE: I originally posted this about 2 weeks ago. My friend (mentioned below) begged me to take the post off of ActiveRain because... believe it or not... the crud-person who stole his laptop computer contacted him via e-mail! And there was a chance he could get his computer back! So... the following post was removed in hopes that this crud-person could be located, without seeing any details if said crud-person clicked on the 'ActiveRain' link in the browser. Sheesh. I post it here again because many have not seen it, and there was some good info about laptops, theft, and backup strategies. - Jim

Got a call yesterday from a fellow Real Estate agent - and the news was not good. He'd just got a shiny-new Dell laptop computer last July, and it was stolen. Sheesh. Fortunately, his insurance will cover most of his loss. Unfortunately, he lost about 3 years of Real Estate data. Ouch.

Some of the details about his experience are important, some are not. Theft happens. But over the course of our half-hour phone call, I pointed out several things, and want to pass those along:

1) Copy files, instead of Moving files. When he bought this laptop, he used a local 'expert' to help him move his data from his office Desktop computer, over to his new Laptop computer. The keyword here is MOVE. This 'expert' actually MOVED the files from the desktop to the laptop - which means that as the files were moved, one by one, the original files were DELETED from the desktop computer! To make things worse... my friend had no backup copy of his original data files. The only copies left in the world were on this laptop. And I mean everything: all e-mail correspondence, contact names and phone numbers, the works.

When you transfer files from one hard-disk drive to another, NEVER MOVE those files. Instead, COPY them. That way, you're left with two copies of each crucial file: one on each hard-disk drive. This is super important in the event of a power failure or computer crash: either could permanently render your data files unreadable. Don't ask me how I know: it's embarassing.

2) If you have lost files on your computer, because some moron MOVED the files, instead of COPYING the files, there's still hope. There are software products out there that can recover the files that were deleted from your hard-disk drive. Two products come to mind: PC Tools File Recover, and WinUndelete. Good stuff.

3) Always put your important data files in your 'My Documents' folder. That makes it easy to create backup copies of your important stuff. (See #4, below.) If you use Microsoft Outlook or Outlook Express for your e-mail, be aware that the 'data files' with all of your e-mail messages are buried deep within Windows folders, and are difficult to find. You can change where those data files are stored, but it's complicated. With Outlook or Outlook Express, check the online help for more information (which is just about useless). Do a Google search on "Outlook Data Backup" for useful information.

4) Buy an external hard-disk drive. Get a USB-2 drive, and one that's bigger than the internal drive of your computer. These are overall cheap: like, less than $200. Plug one of these into your computer, you'll be prompted to ... do many things. Choose to 'open the contents of this disk in a new window' or something like that. That's what you want. And then:

5) Copy your data files onto your external hard-disk drive. Just drag-and-drop the icon of your 'My Documents' onto the new blank data window of your external hard-disk drive. Simple, easy, and slow, but free. There are software programs that can automate this process, but they cost. If you have a lot of data, it's probably worth what they charge. These backup-software programs can also help you with other data (such as your Outlook e-mail), which may make them worth the price of admission.

6) Make a written copy of the 'Identity' of your computer. Okay, common sense tells you to write down the serial number of your computer - desktop or laptop - right? Right. That will help law-enforcement folks find your computer and return it to you if it turns up one day in the 'evidence' room at the PD. But there are two other crucial numbers that can help identify your computer - if it is used on the Internet after its stolen. These are the IP address, and the MAC address. Both of these numbers are embedded in the circuit chips of your computer, and are every bit as unique as a fingerprint. Getting these numbers is a hassle, but worth the effort. do a Google search on 'finding IP Address' and 'finding MAC address.' You'll find procedures for both. Write these numbers down: they positively identify your computer on the Internet if it's used after it's stolen. Right? Right.

7) Check eBay.com Most detectives with local law-enforcement view eBay.com as the "biggest fencing operation in the world" (their words, not mine). If your computer is stolen, do a search on eBay.com for the same make and model number showing up 'for auction' in your local area. You can even configure eBay to alert you when the same make and model shows up on a new auction. Cool You might be eBay-surprised about how dumb most crooks are... you may well find your lost computer up for auction in a few days!

8) Insure your computer. Yeah, you might have homeowner's insurance that will cover a stolen laptop. But what's the deductible? Fact is: if you're in business and rely on your computer, you can't wait to find out replacement terms, costs, etc. For example: State Farm will write a specific-item policy for ... like a laptop computer ... for about $50/year. Not bad. And they'll cover it if it's stolen, thrown overboard (I'm on a sailboat as I type this), or run over by a car. If you're a Real Estate agent and depend on your laptop, you need to buy a policy like this.

Well... Long and rambling, but I hope that I've helped. Useful replies and comments are welcome. As usual, check our website: PreviewHomePro.com.

Nefarious Real Estate Practices - About How Agents Rip-Off Sellers for Commission

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 28 Sep 2006 20:11:59 -0500

Earlier today, I wrote a 'Blog piece about ... well, related to the title you see above. I wrote about how unfair it was. I wrote about what Sellers could do to protect themselves. I thought it was quite a good 'Blog article, if I do say so myself.

Turns out that - a lot of Real Estate Agents (like you) might be interested in that topic.

But per the Sherman Anti-Trust Act passed by Congress in 1890: I can't write about it. I can think about it. I just can't write about it. The good folks here at ActiveRain encouraged me to delete the article, and probably saved me from myself. Thank you, ActiveRain!

Instead: I want to tell you about how to prepare a Baked Potato in a microwave oven! That... I can write about!

Wash the potato in the sink. Get it good and clean, considering what potatoes grow in (which has an amazing similarity to the nature of the Sherman Anti-Trust Act, mentioned above).
Use a fork, and poke a bunch of holes in the outside of the skin. About 10 fork-pokes will do it.
Rub the outside of the potato skin with butter. Just a light coat.
Put the potato on a plate, set the microwave to 'high" and zap it for about 15 minutes.

That's it! A beautiful, toasty-hot baked potato in about 1/3 the time it takes to bake it in the oven.

THIS I can share. And am happy to do so.

Nefarious Real Estate Practices - Lopsided Listing Commission

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 28 Sep 2006 13:11:03 -0500

When a Real Estate agent takes a property listing, there are always two things involved: 1) a small mountain of paperwork, and 2) Sales Commission, to be divided between the Listing Agent, and the Buyer's Agent.

Now the logic behind dividing the total Sales Commission between the Listing and Buyer's Agents is simple. The Listing Agent is compensated (paid) for the work of listing the property: the paperwork, the photos, the yard sign, the print and/or Internet advertising, and all of their time involved with the process. The Buyer's Agent is compensated for working with the buyer: driving them around and showing properties, perhaps working with a Lender to streamline financing, negotiating an offer on the property, and helping the Buyer through the tribulations of the Escrow process.

No big news here. And overall, probably an equal amount of work on both agent's sides. But another Nefarious Real Estate Practice is catching on here in Skagit County. And, while legal, clearly steps over the line of 'right and ethical.' Worse: many owners listing their homes for sale don't even know it's happening to them!

Important note: All of the following numbers and amounts are imaginary. They are not the result of myself contacting other agents to discuss Real Estate Commissions. That’s wrong, according to the Sherman Anti-Trust Act passed in 1890. Instead… all of the following comes from my reading the HUD statement at the close of Escrow. The HUD statement clearly states the disbursement of funds at the close of a Real Estate transaction. I have derived all of the following from my personal review of HUD statements that I’ve been involved with. Right? Right.

In the recent past, a straight percentage commission was common here in Skagit County. Pick a number… 5%, 6%, 7% … the actual number doesn’t matter. And that commission was divided between the Listing and Buyer's Agents – for example, if there were a 6% commission on a particular property, the agents involved would get 3% each.

The realities of the Internet and modern 'discount' brokerages have applied pressure to this commission rate. Now common in our area is a ‘split’ commission rate: some percentage for the first $100,000 of the sales price, and a reduced percentage for the remainder of the actual sales price.

Again: let’s play with some imaginary numbers. Many times, I’ve seen the 6%/3% commission rate: 6% on the first $100,000, and 3% on the remainder of the purchase price. Again this was split for the Listing and Buyer's Agents: 3% on the first $100K and 1.5% on the remainder. In fact, this discounted rate is so prevalent that Buyer's Agents don't even question that commission when they see it with a new listing. New, and/or desperate agents frequently quote that rate, knowing that if a Seller shops around, they'll eventually find someone who will write the paperwork at that rate.

So far, so good. Here's where I have a problem with this ‘split commission’ that’s going on around our area. And it’s to the detriment of the Seller:

Suppose the Listing Agent writes the Listing Agreement at a straight percentage - I'll use an imaginary straight 6% to keep the numbers simple. Okay, here's the twist: buried on page 2 of the Listing Agreement is the SOC - Selling Office commission. And suppose the Listing Agent writes this up as 3%/1.5% SOC, to be paid to the Buyer’s Agent.

What does this mean when all the dollars hit the floor? Here's an example: for a $300,000 house, a straight 6% listing would mean $18,000 total commission. Divided in the normal manner, this would be $9,000 for the Listing Agent and $9,000 for the Buyer's Agent.

However, with this detail twist in the Listing paperwork, here's how the numbers work out: the Buyer's Agent (SOC) gets 3%/1.5% - for the $300,000 listing, that amounts to $6,000. The Listing Agent gets 3%/4.5% ... which works out to a whopping $12,000. TWICE what the Buyer's Agent is paid!

Why is this wrong? Well, the Seller is paying commission for the sale of the property. In good faith, they're paying to have both agents work hard to sell the property. And unless they're savvy with Real Estate contracts (most Sellers aren't) - they'd never even be aware of this scam in the fine print on page 2 of the Washington State Listing Agreement!

What can a Real Estate agent do to protect themselves against this unfair commission disbursement? Sadly, nothing. There's no way to even really be aware of it: the Listing Agreement paperwork is retained by the Listing Brokerage - and the Buyer's Agent is not privy to it. The reality is disguised because the Buyer's Agent commission appears to be a common 'discount' commission rate!

Oh yeah... the numbers will be clear at the close of Escrow, and reflected on the HUD (disbursement) statement. But how many Buyer's Agents take the time to review the line details of the HUD statement at the close of Escrow? Right. Maybe it's time to start.

What can a Seller do to protect themselves against this? Ask their Listing Agent, in very clear terms: "Okay, I'm paying x% commission for the sale of my property... HOW is that going to be divided between you and the Buyer's Agent?"

It's amazing to even think that a Seller should have to know this, or have to ask about it. To me, that's where the practice clearly steps over the line. It's wrong. Simple as that.

Real Estate 101a - What is a 'Bedroom?'

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 21 Sep 2006 14:20:03 -0500

Welcome! This is a series of articles that I've cooked up to describe the basic terms that appear in Real Estate transactions.

Recently, I had new 'first time' buyers that I took out on a tour to show properties... and I realized that most of the common terms that we take for granted are... well, unclear to most first time buyers!

Disclaimer: All of the stuff that follows is according to Washington State Real Estate law, rules, and practices and etc. Other states may have their own interpretation of this and similar terms. Right? Right.

So for this installment of Real Estate 101: What, exactly, is a 'bedroom?'

The legal definition of a bedroom, for the purposes of Real Estate is simple: it is a room, attached to the main structure of a single-family home, that has two crucial features:

It has a door that can be closed.
It has a closet.

Simple, eh? Well, not really. And here's where we get into trouble... and where some Real Estate agents may (intentionally or otherwise) misrepresent a property that they've listed.

What if it's a good-sized room, currently used as a bedroom, but it doesn't have a closet?
Nope. Per definition, it's not a bedroom. A bedroom must have a closet. In this case, it's a 'bonus room' or 'recreation room' or 'sitting room' or 'home office room' or something like that. But not a bedroom.

What if there's a room with a closet, but somebody removed the door?
That's a bedroom. Assuming the door can easily be replaced, and someone hasn't knocked out a lot of wallboard and plaster to make the entry wider... to the point where it's unlikely that a door can be re-installed. This is a gray area. Many Listing Agents would still call this a 'bedroom.'

What if there's a room with a closet, but it can only be reached from outside the house, meaning a door that opens to the great outdoors?
That's a bedroom. Weird, eh? This is attractive to owners who want to rent one or more rooms, but it's still a bedroom. Hope that there's a bathroom that can be accessed from such a room!

What if there's a room with a closet, but it's in a separate building out in the backyard?
That's not a bedroom. That's an 'outbuilding' that has a room with a closet. It's not counted in the 'bedroom count' of the single-family dwelling.

What if somebody converted a closet by removing the door(s), and putting up shelves - to make it like a 'home office' storage space where you could put books and stuff?
That's still a bedroom. A pickup-truck-visit to Home Depot could turn it back into a Real Closet in an afternoon's time.

What about old 'Victorian Era' homes - where closets were never a consideration? Where a 'closet' was seperate furniture that you placed in the room to make it a bedroom?
This is another gray area. There are many 100-year-old homes that have no closets in any of the rooms - yet 2, 3, 4, or 5 of the rooms were clearly intended to be 'bedrooms.' But by definition, none of these rooms are 'bedrooms.'

What about attic space that's been finished... nice floors, walls and ceilings... and a cute little stairway that leads up to it?
Does it include a closet? If so, that's a bedroom.

What about the same attic space that doesn't have a stairway? Instead, you have to pull down a ladder to get to it?
Nope - not a bedroom. That's part of the attic. Even if it's nicely finished, and has a closet.

Well, there you have it. Bedrooms are complicated things. How many bedrooms do you really have in your home?

Big Basher Bike

Ex Realtor (Preview Properties, Skagit, LLC) — Fri, 15 Sep 2006 17:24:07 -0500

Me and my partner Kellie have been married for... well, neaerly a year now. We're both Real Estate agents. As partners, I believe we offer our clients services that only a 'married team" can provide. Well, sorry, all of that is 'off topic.'

Kellie's oldest son just turned 17. Frankly? He's a Big Boy. Even for his age, he's over 6'... and heavy. Well over the range for his height, etc. He also has 'learning issues' - that our local school is addressing via their 'Speical Ed' program. Bless them.

In the recent past, we've bought him bicycles so he could get around, visit friends, etc. But realize this: the current rage in bicycles is BMX and Mountain Bikes. All of these have special suspensions, brakes and etc that encourage a teenage boy to ... well, do what Mountain Bikes do. Jump over curbs. Pound them over bumps in the road. Pop 'Wheelies" off of driveways. You get the idea. And all of these bikes have ended up broken; and broken badly at that. To the point of pitch-and-toss into the dumpster.

It's been a rough few years since this boy hit Puberty, and got big, large, and heavy... like really fast.

For his coming birthday (Sept 20), Kellie and I shopped. We found him a "cruiser bike" - made in the style of the mid-50's. Big tires and wheels. Big handlebars. A big and wide seat.

More important: coaster brake and simple 3-speed control on the rear carrier.

None of this fancy caliper brakes, front-and-rear suspension, small wheels, and latest-rage carp that will encourage a kid to go jumping sidewalks at full-tilt-boogie.

To me, this bike looks sturdy-solid. Time will tell. Have you ever bought a similar bike for your kid? Giving them what they NEED, instead of the latest BMX stump-jumper-de-luxe?

Let me know! As usual, our website is at PreviewHomePro.com

Dinner Bell?

Ex Realtor (Preview Properties, Skagit, LLC) — Fri, 15 Sep 2006 16:57:07 -0500

Whoa... I just got a call from my Mom. Yep: she's still around. And we got to talking about things...

Brought to mind the ol' Dinner Bell. In our home, this was a very old bronze bell, with a wooden handle and the traditional "clapper" thingy inside - so it would ring loud and long when you rang it!

Do you have kids playing in the yard along about dinner time? Maybe down the street, on skateboards, roller-skates, bicycles, and like that? Trust me: an old-fashioned Dinner Bell can reel 'em in quick!

Old technology, I know. Maybe what are we supposed to do now? Call them on their cell phones? GAAK!

But tried and true. Worked for me when I was a pup. And man... I could hear that bell from blocks away! Could it work for you?

Nefarious Real Estate Practices - Canceling and Re-Listing a Home

Ex Realtor (Preview Properties, Skagit, LLC) — Wed, 13 Sep 2006 15:26:00 -0500

Well, it seems to be all the rage here in Washington state, and a hot topic among Realtors. This, the practice of canceling a current property listing (usually late at night), and then re-listing that property a few hours later. Same house, same seller, same price.

Why would a Realtor do such a thing? Well, it relates to the way the 'MLS' system is set up. The 'MLS' (in our case: NWMLS, Northwest MLS) is the statewide database system used by Real Estate agents to see what properties are currently listed with Real Estate Agents and Brokerages. Actually, it's a bit more complicated than that, but you get the idea.

With the NWMLS, good Real Estate Agents 'log in' every day via the Internet to see what new properties have come on the market. The system is designed to automatically flag new listings in an agent's area, so they can quickly review the new properties, and match them against their list of buyers. So far, so good.

The problem comes when an agent... gets the idea of: "Hey... all I have to do is Cancel this listing, and then re-list it a few hours later. That way, it shows up as a New Listing! And it will come to the attention of other agents as a New Listing!"

Well, our NWMLS office has lost their sense of humor about such tactics. As well they should. In most cases, the homeowner who has listed the property has no idea that such changes have taken place.

Why is this a bad thing? Why should it stop? There are several reasons:

It's not fair. All of us Real Estate Agents (and the loftier Realtors) must play by a set of rules and regulations, and this clearly steps over the line. Canceling and immediately re-listing a property to make it appear as a "fresh new" listing is just plain wrong.

It reflects badly on the property. In our NWMLS database system, we have the ability to track the 'history' of a listing. How long it has been on the market. When it was first listed. When it was last sold. This gives licensed Real Estate agents a lot of power for determining the current market value of a particular property. In this case: a property that is listed, canceled, re-listed, canceled again, and then re-listed... hurts the value of the property. Why? It could appear that the property owners are troublesome, and frequently change their minds about selling the house. In turn, that could make it difficult for a buyer to actually purchase the house and close escrow. This is a Really Bad Thing.

There are other reasons... mostly legal and technical that relate to current Real Estate Law here in Washington State. But fact is: our NWMLS legal staff has finally stepped up to the plate, and is doing something to reprimand Real Estate Agents who goof around with this kind of stuff.

What can you do to protect yourself, as a homeowner trying to sell a property? First, make it clear to your Real Estate Agent that your property will be listed on the MLS for the ENTIRE DURATION of the Listing Contract. That ANY changes (cancel, temporarily off market, etc.) will require YOUR WRITTEN PERMISSION for such a change. All of this is actually in the 'fine print' of Washington State Listing Contracts... but there you have it: it's in the fine print. Make it clear to your agent that you're not going to put up with this.

Whew! Another long and rambling post here on the 'Blog. But important stuff. If I help even one homeowner, it's all worth it. As usual, there's more information on our website: PreviewHomePro.com

BBQ Grill - Retiring it until Next Summer

Ex Realtor (Preview Properties, Skagit, LLC) — Mon, 11 Sep 2006 15:53:18 -0500

Well, here we are after Labor Day. In many parts of the country, this signals the End of Summer, and time to do misc tasks around the house to prepare things for Fall/Winter.

My wonderful Wife and Partner, Kellie, bought me a cool BBQ grill as a 'Father's Day' present, year before last. Nice. Stainless top. Stainless fittings, etc.

What I didn't know was... deep down inside this grill, all of the burner-bits were cast iron! And, over the past 15 months, the worst of the worst has happened: dripping water during Winter Rains... well: that water dripped right into the cast-iron burner outlets, and... sheesh! Not more gas or flame out of those burners!

I've learned a couple of things from this:

If you have a nice BBQ that appears to be Stainless Steel - check the actual burners. They may be made from something other than Stainless Steel. In this case, ALWAYS make sure your BBQ grill is covered during any wet weather. And ALWAYS make sure it's covered during periods of inactivity: Fall/Winter/Early Spring.
If you have a Cast Iron burner down inside your BBQ Grill, and you have plugged-up jets at one end or the other (usually, by the Ignitor area - go figure)... you can probably drill out the clogged jets with a 1/16" drill bit (or smaller). Go slow and carefully, and drill straight through where the 'jet hole' should be. One or two "clean out" holes near the ignitor can probably make it all work again (see below).
Many modern BBQ's have an 'electric ignitor.' You know the kind: a battery-operated push-button that lets you spark the BBQ to life. Problems with igniting? Check the battery. Check for drips and clogging near where the Ignitor sets off the spark. Finally: got to cook something, and the ignitor just won't do it? Use a long match (usually used for lighting gas fireplaces), or use a long butane lighter (usually used for lighting candles, etc.). That'll get you going to cook your meal, but pretty much, that's it.
Plain and Simple: If you're not using your outdoor BBQ, cover it with a sturdy and well-made cover. Or, put the actual BBQ under cover, such as in the garage, or in a covered shelter. Very important stuff, this.
Basic BBQ Grill Technology - If you have a modern BBQ grill, it has a Propane tank, right? Right. That Propane tank has a valve on top of it, right? Right. When you're done with your BBQ Grill, make sure that the valve is screwed all the way down (clockwise), right? Right. Next, unscrew the Propane tank, and store it away from your BBQ Grill. Safety first!

Thinking of Selling? Get a Pressure Washer!

Ex Realtor (Preview Properties, Skagit, LLC) — Mon, 11 Sep 2006 14:43:59 -0500

Some months ago, my Wife and Partner in Real Estate bugged me with a 'honey-do' list for maintenance around the house. Sheesh. Any long-term-married-husband-person knows the impending dread of such list... projects that should have been done long ago, but somehow got put on the 'back burner' due to work, family... and other stuff, such as waxing my Corvette (guilty).

Well, tell you what. Kellie's and my house has kind of a "U" shaped floor-plan. And in the center of that "U" shape is a cedar-planked outdoor patio deck. Just over a year ago, I installed a 'gazeebo' cover over this deck area, making it a cool and pleasant place to hang out on sunny summer afternoons, shaded from the sun.

Now this cedar-planked deck is about 10 years old, and had always been submitted to the ravages of Pacific Northwest weather (which is a fancy way of saying: 'It rains a lot here, and the deck is wet a lot of the time!') Overall, in great shape. But the wood was dark, and always slippery when wet.

So I took a trip over to the local Home Depot store, and bought a gas-engined Pressure Washer. About $300. You know the kind: hook it up to a hose spigot, fire up the engine, and high-pressure water will blast away at the target of your pleasure.

Wow! I spent a dedicated HOUR on that patio deck, and the results were astounding. Back down to the native color of aged Cedar (instead of the grimy-black that I started with). And even better: no more slip-and-slide when the deck was wet with rain or mist. Amazing!

What else can you do with a Pressure Washer like this?

Prep your home for exterior paint. Fun. Spray and blast off all the dirt and etc. Fast, simple, and ready for paint.
Not going to paint prior to sale? No problem. The Pressure Washer will make your house look 100% better, just by getting the dust, dirt and grime off the paint. It's also easier to wash your windows after you've blasted them with a Pressure Washer.
Rooftop Crud: leaves, green grunge, grime and moss. Here in the Pacific Northwest, if your rooftop is shaded by trees, it's almost a guarantee that there's green mossy-stuff growing amongst the shingles in your roof. A quick trip up to the roof with a Pressure Washer will zap all that stuff. House looks better. Roof will last longer. A Good Thing to do.
Cars, Boats, RV's etc. A quality Pressure Washer will make quick work of washing your car. Do you have large vehicles? We've got a Chevy Suburban. Can I reach the top to wash it? No. Can I blast the heck outta it with the Pressure Washer? YES!

Overall, the point I want to get across: a good Pressure Washer will set you back about $300. But if you're thinking of selling your home, you'll probably get about 10x that back on your investment. PLUS - You have a cool Pressure Washer that you can use for a variety of projects for your next house.

Feel free to call me or Kellie - our contact information is on our website at PreviewHomePro.com

Photography for Real Estate Listings

Ex Realtor (Preview Properties, Skagit, LLC) — Sat, 09 Sep 2006 16:29:38 -0500

As a licensed Real Estate Agent here in Washington State, and as a Realtor, well... you can imagine that there are a lot of rules and regulations about marketing properties. A lot of legal requirements, such as the exact words that are used to describe a property.

What you may not imagine... are the new rules about photos for a listing that appears on the MLS system - the state-wide database that all of us Real Estate agents rely upon. As recently as a year ago, the Washington State MLS (NWMLS) would (for free) send someone out to take a picture of any new listing in the MLS!

Well, those days have passed. Now it's the responsibility of the Listing Agent to take the digital photos that accompany a new listing. And that same Listing Agent has up to 5 days to post those photos to the MLS, so other agents can see them.

What does this mean to you, as a property owner? Lots! Simply stated: when you list your property with a Real Estate Agent, you should ask about their background in photography. You should ask to see examples of the work they've done in the past. Again: there's only a 5-day 'time window' for the photos to be taken and uploaded to the NWMLS database.

What if its raining? Dreary-overcast? Can your Listing Agent compensate for weather conditions, and make the photos look great? Will your Listing Agent come back on a better day, and take new pictures?

Kellie and I take pride that all the photos of our listings show the properties to their best advantage. Personally, I have a lot of experience in digital photography (in the past, I've written user's manuals for a wide range of photo-enhancement software for both Windows PC and Macintosh computers).

Let me show you a couple of examples. The first is one of our recent listings, taken on a sunny day. The sky was average, and the lawn (as captured by the camera) didn't look so hot:

Next, I fixed the lawn (how it really looks), and added some clouds to the sky. A bit of touch-up here and there... well, see for yourself:

Check our website. You'll see what I mean. It's your property, and your listing. Remember: 79% of all home buyers begin their search in the Internet. First impressions are everything!

La Conner Marina - Little-Known Jewel of the Pacific Northwest

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 07 Sep 2006 15:04:17 -0500

Well, earlier this week, I took some time off from Real Estate, and spent that time doing maintenance work on Kellie's and my sailboat: the SV 'Gibson Girl' that we have here in beautiful, La Conner, Washington.

The 'Gibson Girl' is a grand old sailboat: a 1972-vintage Cal 2-29. 29-feet overall, sleeps 6, and sports the classic hull design created by Bill Lapworth (back in the days when all calculations were done with a slide-rule!).

It dawned on me that - most folks don't know anything about La Conner, WA... let alone the fine facilities provided by "The Port of Skagit County - La Conner Marina." So let me explain:

La Conner Marina is located on the Swinomish Channel, here in Skagit County. To the north, Swinomish Channel exits to Padilla Bay. Around the corner to the left (westward) is the historic town of Anacortes, noted for fine food, fine hotels/motels, antique shops, and easy (ferry) access to the San Juan Islands - the farthest NW land claimed as part of the USA.

The city of La Conner is a treat unto itself. With a total population of about 800, it retains the small-town-old-town-feel. Museums, micro-brew-pubs, historic water-front businesses... it's all here. A great place to live, work or play!

Which brings me back to La Conner Marina. Kellie and I maintain our 29' sailboat here, and pay a mere $190/month for the slip where we tie up our boat. And that includes electrical, access to restrooms and showers... the works! I even have high-speed Internet here on the boat... contact me for details.

Finding properties in La Conner is tricky, but Kellie and I have connections. Click here for more information about La Conner.

Click here to go straight to our website at PreviewHomePro.com

Skagit County: Time to Buy? Time to Sell? Maybe Both!

Ex Realtor (Preview Properties, Skagit, LLC) — Tue, 05 Sep 2006 21:07:00 -0500

Tell you what: it's interesting times for Real Estate here in Skagit County.

We all know that interest rates have been on a roller-coaster... as of today, the nationwide average for a 30-yr Fixed is 6.44% Not bad.

Yet, at the same time, the values for single-family homes here in Skagit County have been on a steady rise.

I'll quote from the Everett Herald here, from an article dated August 8, 2006:

"...The combined median price for single-family homes and condos was $334,000 in Snohomish County in July. In Island County, the median was $297,450. The price increases in both counties were among the highest for the month in the Puget Sound area. Only Skagit County, where prices rose 22 percent, was higher."

Well, there you have it. Here in Skagit County, we're looking at a median price in the low to mid $200K range. Yet at the same time, we've had a 22% price increase.

What does this mean for you?

If you're looking to buy: this is a great time. Interest rates have dropped some, and stabilized: this gives you time to look for a home. And there are a lot of homes on the market right now: the tide has decidedly shifted to the Buyer's advantage.

If you're looking to sell: With the low interest rates, the buyer has more "purchase power" to make a bid on the home that they want. With a 22% gain, the current value of your house may well be at the 'high-water' mark for the forseeable future.

Feel free to call my wife Kellie or myself to discuss your options - we're both full-time Realtors. Check our website at http://www.previewhomepro.com We're here to help!

Our Website, and Real Estate from Afar

Ex Realtor (Preview Properties, Skagit, LLC) — Mon, 04 Sep 2006 14:44:36 -0500

It happens a few times a year: someone who found our website while living in a distant city, looking to relocate up here in the Pacific Northwest.

Kellie and I finished a transaction recently with a lovely person by name of Angela, who was living in the Los Angeles area. Angela and I exchanged a few e-mails... and she finally left me a note that she was coming up to the area to look at a few homes in particular.

Now get this: Angela drove the 1,500+ miles up here... and we had never even spoken on the phone! I made some time in my schedule, and she finally called on a Sunday afternoon after a long drive north. Monday morning we met, and went to look at houses. In less than 4 hours, we'd written an offer for her home, and she's as excited about that house today as the first moment she saw it.

I'm always amazed at the power and reach of the Internet, but I guess we're doing something right with our website. That folks like Angela find the information they need, and trust us to represent them in a Real Estate transaction.

Angela wrote a lovely testimonial (which I've copied in its entirety, somewhere here on this ActiveRain site). Thanks, Angela!

If you haven't seen our website, you can check it here: http://www.previewhomepro.com

Pssst... Looking for your own Island in Skagit County?

Ex Realtor (Preview Properties, Skagit, LLC) — Thu, 31 Aug 2006 16:24:19 -0500

Look no more.

Right off the scenic coastline of Anacortes, WA. The historic Allan Island, 292 acres, comprised of (already approved) 44 tax lots for 44 separate homes.

All this, and you'll get change back from a $20-million bill. If there were such a thing.

Want to know more? Go to this URL:

http://www.previewhomepro.com/Search/island.html

Fact is: there are a lot of unique listings here in the Pacific Northwest. And especially here in the Skagit County that my wife Kellie and I service.

Looking for waterfront property? Huge acerage with a river? That exclusive villa with inside swimming pools, elevators... your own private beach? Yep... we can hook you up. And we have the connections to see the deal through to completion - while always looking out for your best interests.

Check our website at http://www.previewhomepro.com for more information. We're always here to help!

Yard Signs - Yes or No?

Ex Realtor (Preview Properties, Skagit, LLC) — Wed, 30 Aug 2006 15:16:45 -0500

From time to time, we come across a seller who has ... well, a very specific opinion about placing a 'yard sign' on their property. You know the one: it says 'FOR SALE' and has the name of the Realty Brokerage, and contact phone numbers.

As you can imagine: the 'opinion' I'm talking about is: they don't want a big ugly sign in their front yard!

About Yard Signs
According to the latest NAR (National Association of Realtors) statistics about 15% of home buyers find the home they eventually buy because of a yard sign! Think about it: that's about one in six. These are folks who ... perhaps went to see a different property in the neighborhood. Perhaps they just attended an Open House in the area. But fact is: yard signs work. Do you want to risk 'throwing away' one in six potential buyers? Of course not!

Contrary to popular belief: when a potential buyer sees the sign in the front yard - it doesn't mean that they'll come knocking on the door. Instead it means that your property is professionally represented by a licensed Real Estate agent. And that it's important to call the numbers on the sign for more information. Information that will come from a Real Estate professional who can answer any and all questions about the property.

Kellie and I strongly recommend that a yard sign is prominently placed on all the properties that we list. They cost us money - and we would be spending that money in other ways to market your property if they didn't work!

Information Flyers on Yard Signs
Many of the yard signs you see in your area have a clear plastic box marked "FREE- TAKE ONE" or something like that. And in that box is a very nice printed 'flyer' that tells all about the property. Sounds like a good idea, right?

Well, no. And let me tell you why:

Even a very well done 'flyer' can't tell everything about a particular property. There's just not enough space! Yet these flyers have the appearance of doing exactly that. Some crucial piece of information may have been left out - something that a potential buyer has at the top of their priority list.
Who picks up these FREE - TAKE ONE flyers? Well, right off the bat: all of your neighbors! They're curious about your house and its features. That's not wrong, it's just human nature! Of course they'll sneak out, early in the morning, and grab one! What does this mean to you? Well, the first 50 or so flyers will disappear immediately, leaving an empty box. A real potential buyer... seeing an empty box... will assume that the property is marketed by a bad or unprofessional agent. Or that the sellers don't care enough to keep the flyers stocked.
What if the flyer box is empty, or the flyers are weather-damaged? See above. Also... if for some reason your home doesn't sell right away (maybe a 60-90 day market average)... what impression does it make on the buyer if the flyer is brown with age, and the colors bleached from sunlight? A bad impression, or an offer at a vastly reduced price, that's what!

Kellie and I firmly believe that each property we list should have a professionally-prepared flyer describing the features. But we also believe that these flyers should be placed inside the house - not outside on a yard sign. We also prepare these flyers, and distribute copies to all of the agents in the area with a proven track record of selling such a house in its particular price range.

We also notify all of the neighbors in the area (with targeted mailings) to give them all the details about the house for sale. We know that they want to know - and it's a part of our service to give them that information.

Kellie and I can tell you the best ways to market your particular home. Check our website at: http://www.previewhomepro.com We're always here to help!

Dealing with TMS - "Toughest Market Syndrome"

Ex Realtor (Preview Properties, Skagit, LLC) — Mon, 28 Aug 2006 12:58:48 -0500

Over the weekend, Kellie and I made a 'listing presentation' for a (hopefully) new listing here in our hometown of Mount Vernon, WA.

For those new to Real Estate, the 'listing presentation' is where Real Estate agent(s) go to meet with a house seller, and explain how they intend to market the house, how they're different as compared to other Realtors, commission rates, and etc.

Weeelllll... this particular house is up on the 'hill' in Mount Vernon, in a very nice neighborhood. A very large house, with 3400+ sq ft, 3-car garage, big lot, and a number of (older) upgrades. All told, after careful analysis by Kellie, this particular house fit into the Toughest Market in Mount Vernon - or all of Skagit County for that matter.

Why? Well, the average detached home price in our county falls in the $225K - $325K price range (Southern California readers - you can sit back down now). This particular house will fall into the $450K to $575K price range. A big span for a price range? You bet. And it's all because this house falls prey to what I call the "Toughest Market Syndrome" or "TMS."

About TMS
Houses that are prime candidates for TMS have the following common characteristics:

They have large square footage - bigger than an average family can clean and maintain without a housekeeper or cleaning service.
Due to their expansive size, they're 2-story, or split-level houses. Climbing stairs is tough on the older, retired folks who might otherwise best afford such a house.
They are custom-designed or custom-built homes... but built some time ago (perhaps a decade or more). Custom features from a past era look decidedly dated when compared to newer homes, even if they were wildly expensive and very well executed at the time.
The yards are Adult-oriented. No lawn or a small lawn, large gazeebos, hot tubs, rock or brick paths, waterfalls, bird feeders, intricate and difficult to maintain landscaping... all features that appeal to older, retired folks who want a smaller house - NOT a larger one. For the square footage, the house might appeal to a large and growing family, but the yard does not.
Price point: 1.5x to 2x the price of an "average detached house" for a particular county. This makes it tough for a Realtor to market, because it's not a true "custom luxury home" (for which there are advertising opportunities). It also makes it tough because there's competition among Realtors to get such listings - and a Seller can easily find a Realtor who will take such a listing at a cut-rate commission.
Competition from New Construction. Wow. Builders love to craft "upscale" homes at this price point. Granite counter tops, stainless appliances, tile or slate entries, real marble fixtures, hardwood floors, custom cabinetry and millwork... you get the idea. Current, contemporary, and beautiful. And brand new, with a builder's warranty.
New Construction with a View. Builders are not fools: they carefully choose construction lots with the idea of neighborhood prestige. A view is frequently the primary consideration. In our area, new construction at the TMS price point are either on a hill with a fabulous view, or are golf course lots. Sometimes waterfront or riverfront. But never just an ordinary lot in a nice neighborhood.

TMS. Yep - our potential listing falls into the TMS category for not one, but ALL of the above reasons.

What's a Seller to do with a TMS house?
Well there are a few things - and I'll share them here as I would with any Seller who is serious about selling a TMS property:

Analyze the market, and make the price attractive. Go beyond the square footage and features. Look at what's on the market, and HOW LONG it's been on the market. Look at what's sold, and how long it took to sell. As a seller, are you really ready to carry the mortgage for 200+ days? (that's our average 'time on market' for a TMS house). For such a house, 200 days on market can be $20K to $50K in mortgage payments. Be aggressive, and lower the asking price by that amount at the start.
Consider minor kitchen and bathroom remodel projects. $10K spent on kitchen granite counters and stainless appliances can make the difference between selling the house, and never selling it at all. And there's always an attraction to new appliances, that have a warranty. Likewise with custom bathroom stuff.
Commission for Realtors. Houses that fall prey to TMS have a lot of competition. Don't be stingy with commission for your Realtors - either on the buyer or seller's sides. In our area, new-construction houses that fall in the TMS price range pay a FULL 4% COMMISSION TO A BUYER'S AGENT. You can't compete against that with a budget-conscious, cut-rate commission. Realize too that buyers for a TMS house are likely to be from out of your area. Realtors showing and selling your home will have to drive from out of the area to show the home, and coordinate showing times with out-of-area buyers. They will want to be PAID for that.
Internet Marketing. If you're trying to sell a TMS house, pick a Realtor with a strong Internet presence. According to the NAR (National Association of Realtors), 79% of new home buyers BEGIN their house search on the Internet. That number is even higher for a TMS house. These buyers want a really nice, big house in a nice area. The Realtor you choose should have a Killer website, that explains the neighborhood, and is capable of explaining the value of your house with pictures, Virtual Tours, and more.

Whew! I've rambled a bit, but all of this is important information. Kellie and I have worked hard to create a website that can best flatter and market a TMS-category house/listing. But it still takes a thorough understanding on the part of the Seller to make it all work.