Lakes Forest Mark's North Seattle Blog

Sunday at the Lake Forest Park Farmer's Market

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Tue, 26 May 2009 11:07:09 -0500

Sunday couldn't have been a more gorgeous day, so headed on over to the LFP Farmer's Market after my workout at the LFP Gold's Gym this morning.

The sun was shining, the LFP Commons parking lot was packed full of people, and good, fresh, locally grown food was in abundance.

I had the pleasure of meeting Eric Rivera with Sound Bites Sauce and Spread Co., and who also attends culinary school and runs a fantastic food blog at www.ericriveracooks.com

Here he is ringing up my order of Cabernet Pepper Crackers and Lime Reisling Oil:

Holy Guacamole, you really have to try this stuff. I can't wait to put some on a flank steak and throw in on the BBQ. And be sure to check out his blog. It has a plethora of fantastic recipes.

Here is a great pose by the obvious wallflower Stephanie with La Pasta at 9118 35th Ave NE.

Her boss, Alessandro, who is from Perugia (where I coincidentally spent three weeks last October) makes his own pasta and sells it at various farmer's markets around the area. Yowza. Be sure to give them a call at 206.527.3301

Enjoy the rest of the pics:

Live Entertainment:

Oysters: 2 dozen for 12 bucks? Awesome!

Must be where Jack in the Box gets meat for their sliders:

Pink Polka Dots Benefit Concert at Shorecrest Performing Arts Center

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Sun, 15 Mar 2009 17:13:42 -0500

Posted February 10th, 2009 by LakeForestMark

As a proud sponsor of the next Pink Polka Dots benefit, I urge you to come to the Shoreline Performing Arts Center on Saturday, February 21st to join in the fun and benefit a great causeThe Brian Waite Band will be performing "20,000 Volts Under The Sea: A Rock and Roll Adventure

100% of proceeds from ticket sales and 10% of CD sales will go towards Fund the Cure for Pediatric Brain Tumors.

The concert is a benefit to Fund the Cure for Pediatric Brain Tumors, and you can buy your tickets online at PinkPolkaDots.com or at the LFP Third Place Books. Buy your tickets now, because there is limited space. Tickets will be available at the box office under the name on your credit card. For donation or purchase questions, contact ppdtreasurer@comcast.net

The Pink Polka Dots Guild was started in 2006 by friends of Sydney Coxson when she succumbed to a brain tumor at the age of 11. They raise money for pediatric brain tumor research at Children's Hospital in Seattle. They call themselves "the pink polka dots" because they were Sydney's favorite things.

Last year, The Guild presented Dr. Olson of Children's Hospital with a $56,686 check and filmed an appearance on Evening Magazine. They started in March 2006, and since then have raised almost $100,000!!

So, give it up for the Pink Polka Dotters and come down and join the cause.

You'll be glad that you did.

My best,

Lake Forest Mark

President Obama the Superhero Ninja Warrior

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Fri, 23 Jan 2009 18:58:21 -0600

I have noticed something from my perch here in North Seattle in regards the historic election of our new president, Barack Obabma, and that is this:

Even people that don't necessarily agree with his politics, they seem to want to give him a chance and even more, the actually seem to genuinely LIKE him. With the exception of Ann Coulter and Rush Limbaugh, that is, but they are always an exception and thrive and make a good living on hate, fear, and agitation. I have some extreme right wing friends who have told me that even though it will be the end of the world as we know it, and we will become a Socialist nation and suffer horrible terrorist attacks, they actually can't help but like the guy.

And I think that is a hell of a thing to pull off, considering all of the fears he is up against in that group.

So, just in case any of you out there were worried that our new President would be soft of terrorism, crime, or anything else for that matter, I give you Exhibits A B C D E and F to suggest otherwise:

20 Ways to Cut Energy Bills

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Tue, 16 Dec 2008 13:48:16 -0600

Here is some useful information during this frigid winter of ours.........

20 Ways to Cut Energy Bills

1.   Don’t overstock the fridge; this blocks the air from flowing and uses more energy.
2.   Use a toaster oven for small meals or reheating.
3.   Use a slow cooker rather than the oven.

4. Use glass or ceramic pans, they hold heat better and allow you to cook at a lower temperature (25 degrees lower)and for the same amount of time.

5.   For Christmas lights, use LED lights.
6.   Buying a new TV? Buy only EnergyStar rated.
7.   Dry clothes on an indoor drying rack instead of using the dryer for everything.
8.   Refrain from using the fireplace when its 20 degrees or below, most of the heat escapes out the chimney.
9.   In a wood burning fireplace, use logs that are 4-6 inches in diameter; they are more efficient and produce more heat.
10.   For an efficient furnace, change your furnace filter monthly.
11.   Replace your furnace motor with a variable speed motor; this allows your furnace to operate on a lower fan speed and use less energy.
12.   Buy a programmable thermostat; program it to run when you need it and less when you are not at home or at night.
13.   Plant deciduous tress around your home; they shade in the summer and allow sun during the winter when they have lost their leaves.
14.   Install an energy efficient pet door; these have a better seal and prevent heat loss.
15.   Lubricate door locks and hinges to allow them to close better and get a better seal.
16.   Check your recessed light cans for leakage and replace with sealed cans.
17.   If you are considering moving; find a place with good southern exposure and take advantage of passive solar for heating during the winter time.
18.   Reverse your ceiling fan rotation to push the heat down into your living space.
19.   Unplug appliances and others items not in use. If you leave things plugged in they still use energy even in the off position.
20.   Limit use of bathroom and kitchen exhaust fans; use them only when necessary as they are a major source of heat loss.

IT'S A NEW PARADIGM - SHORT SALES AND FORECLOSURES DRIVING HOME PRICES.

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Tue, 16 Dec 2008 13:44:20 -0600

This is the point I have been trying to make for some time now. Thank you Lenn!

Via Lenn Harley Homefinders.com MD & VA Real Estate:

IT FINALLY HAPPENED!

In many communities across the country, foreclosures and short sales ARE the market today. Everything else is "out of market".

THE AMERICAN DREAM. Mike and Julie Sebastian paid $300,000 for their split foyer home in 2004. They planned to own their home for 5 years and then sell.  Their plan was to sell their starter home and move up to their "dream home" using the equity accrued over the 5 years for a down payment. They planned to look for a new home in the suburbs with a nice yard for their son born in 2006. They also planned for Julie Sebatian to reduce her job to part time to spend more time at home. When their planned second child came, they would be settled in a lovely community with convenient shopping, an easy commute and community amenities for the children.

HOMES FOR GROWING FAMILIES. Mike and Julie, in pursuing their dream, contacted a real estate agent in the suburban area and toured new homes that had everything they wanted, the great kitchen, yard for the young ones and pets, a jungle gym for the children, large master bedroom and garden bath, a library for a home office for Mike and the community is close enough to shopping, schools and amenities that Mike and Julie could shop in the neighborhood.

THE PRICE IS RIGHT. They were surprised that they could buy a luxury home with a nice yard in a price range that surprised them. Goodness they thought. The homes are priced at about $600,000, far below what Mike and Julie thought they'd have to pay.

TIME TO GET THE HOME LISTED FOR SALE.  Mike and Julie contacted several listing agents from whom they had received regular mailings. These agents all sold homes in the community. Mike and Julie hadn't paid much attention to the prices for homes in their community. They had taken very good care of their home and believed that, whatever the market was, they would be priced at the top for their style home.

OUR HOME IS ONLY WORTH WHAT??   All three listing agent who presented Mike and Julie with pricing information suggested that the market value of their home was between $175,000 for a fairly fast sale to no more than $200,000 tops. Not only was the home that Mike and Julie had paid $300,000 for in 2004 barely worth $200,000 today, there was a real possibility that the value would be reduced further ove the next several months. The pricing trend for the community was still on a downward trend.

WHAT HAPPENED TO OUR EQUITY? One listing agent who had suggested a price of $190,000 for Mike and Julie's home explained that there were 2 foreclosures and 3 short sales in the community priced from $159,900 to $189,900. Mike and Julie knew that they could not sell their home for $190,000. They still owed $239,000.

Now Mike and Julie understood why their "dream home" was priced so low. They also understood that, for the foreseeable future, they were not going to be able to sell their home and move up. In years past, appraisers would not include the occassional foreclosure in market valuations. Short sales were seldom heard of and didn't affect market value. Times have changed.

Today, in many communities, SHORT SALES AND FORECLOSURES ARE THE MARKET.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

I need my quick fix !!! Please pass me that 4.5% rate over here NOW !!!

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 08 Dec 2008 16:44:16 -0600

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages -- Mortgages :

WARNING…WARNING…

                     information overload...

In the last few days, I have seen several blogs talking about the 4.5% rate. Fred Chamberlin wrote this post. Could Mortgage Interest Rates Drop to 4.5% with Treasury Intervention?   He put some good information out there which ended up with some thought provoking comments. But are lower rates just a quick fix???



I have read all the comments and I am a little disturbed at the lack of knowledge and or the lack of common sense that some of us show. I feel that there is something lacking in these comments, lacking in today's society, and in our profession of lending & real estate. Yes, this is my opinion... but I want to share a little thought.

Just for the record, before I move forward. Some have said that I come across harsh, or like a know-it-all with a twist of ego. I will admit, I have come across harsh sometimes in comments, but for reason. It's time to wake up. I take my job seriously...Not saying that you don't. I have a lot of pride in what I do... and lots of passion. And I truly believe in taking that extra time, educating the consumer with more than opinion that just blows in the wind. We need to tell the consumer what they should hear, instead of what they want to hear. I want real thought with my comments and stats. The kind of talk that I am talking about is hard core real estate talk. Lenn Harely is very good at this and she tells it like it is. Chalk full of real information and not fluff, allowing the reader to make up their own conclusions and not false thinking because it was just a happy blog with good news. Today she wrote, The Housing industry is in a recession, what are you going to do about it.   Don't get me wrong, I despise the doom and gloom type of blogs, but we do need specific details with a positive twist.. back to the issue at hand.

Watch out for the trap..... The credit trap aka the mortgage trap aka the RATE TRAP !!!

Here is my thinking on this. More than half the comments stated :

Hurray for lower rates. 4.5% would be awesome.

Wow, business will pick up. Those on the fence should get off.

This should jump start the economy.

Yes, I will admit, when hearing a low rate, that sells. But haven't rates been low for the last 3 to 5 years? Didn't people buy with 12% or 18% rates back in the 80's ??

Again.. payment should be key. Rate just makes payment. You live with the payment, not the rate.

           Opinion or Facts……

Here is my issue with everything that I mentioned above. To many people focus on rate and loan officers in general don't help with this. This post is about 1 1/2 years old, but the basic concept is the same. Rate vs Payment

When I first speak to a potential client, my first question usually is, "what payment are you comfortable with?" Not, how much house do you want.... how is your credit.... what kind of money do you make. I really do stress payment over rate. Yes, a lower rate lowers your payment or increases your purchase amount. But as a loan officer, we not only need to educate, but set reasonable expectations. Here are my top 6 questions that I ask any borrower.

Let's take a quick look at today's rate vs lower rates and payments......

Mortgage Amount

$120,000

$120,000

$120,000

Interest Rate

6.00%

5.50%

4.50%

P & I Payment

$719.00

$681.00

$608.00

Difference in Payment

--

+ $38.00

+$111.00

+$ 73.00

As you can see, going from 6.0% to 4.5%, you would save $111.00. Now, it's a savings, but nothing spectacular when you say that you are going to lower the rate 1 1/2%. And keep in mind, if this was a refinance, now you have costs that you would add onto the loan amount, which would reduce your savings.

Mortgage Amount

$200,000

$200,000

$200,000

Interest Rate

6.00%

5.50%

4.50%

P & I Payment

$1,199.00

$1,135.00

$1,013

Difference in Payment

--

+ $64.00

+$186.00

+$122.00

As we know, real estate is local. In some parts of the country, many people don't see purchase amounts above $100,000, or $150,000. In some areas, you will see an average of $250,000 to $400,000.

As you can see, the higher the loan amount, the greater the savings when the rate is lower. If you go from 6% to 5.5%, you save $64.00 a month. But if you go from 6% to 4.5%, you would save $186.00 per month. But look at this... if you went from 5.5% to 4.5%, you would $122.00 per month.

Summary : Keep in mind, these are just rate comparisons, not to include closing costs, points, or lender fees. It also doesn't take in consideration of pricing hits if you are putting 5% or 10% down with credit scores under 680 on a conventional loan. As many of us know, FHA loans don't have pricing hits until you get under a 620 score.

Keep this in mind..... just because they said that rates would be lowered to 4.5%, you don't know at what cost to the consumer. So again, hence why I consider many of these blogs that talked about lower rates to 4.5%, don't mention information such as what was discussed in this post. It's almost like misinformation. How can you truly gauge the difference of a lower rate to what rates are now, until you know what it will cost? Just food for thought...

One last thing..... look at it this way... >> This is a 3 part - food for thought...

1. If $200 extra in your pocket was going to make or break the deal for you. Now by saying, I will have something left over... ouch. You should have more left over than that. You can't survive, especially in today's market with just $200 extra in your pocket. Maybe if you are single, but not if you have a family. Things happen last minute. Hence why I sell payment and not rate.

2. If you told me that you didn't want to go over a payment of $2,000. I tell you that you could qualify for $300,000 and you are shocked at such a high purchase price. Then I tell you that your rate is 20%... you say, no %$#$ way. Okay, but it fell into what you wanted and so did the house. Again people, rate is just a thought stuck in the head. We want things at a discount, it makes us feel happy. We feel like we got a great deal. That comes with shopping at the store. Buying a home is one of your biggest investments ever. You need to focus on payment, not rate.

3. Here is one last reson for my fear of lower rates. It could be a part of this.... inflation vs deflation, which could lead us into a great depression. And that is no joke.

All pictures from istcokphot

- FHA Loans - USDA Loans - Conventional Loans - VA Loans -

Experience & Knowledge at its BEST !!!

________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information on how you can obtain your dream home, please click here : Mortgage Financing Options

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!

Copyright © 2008 by Jeff Belonger

The difference between REO and Short Sale Properties:

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Fri, 07 Nov 2008 15:56:43 -0600

As of late, I have recieved more phone calls and email about Short Sale and REO (Bank-Owned) properties than anything else.

The reason is simple: Buyers are keenly aware that the tide has turned in their favor, and they want to find the best possible deal out there.

Here in Seattle we have really caught the tail end of the housing market decline, and all indications are that we will not suffer as much as much of the rest of the nation in regards to our housing prices. (See my last post)

Because of this, the amount of Short Sale and REO properties are not as great as areas in California and Florida that have been waylaid by the bust.

That being said, these types of properties are out there, and the potential to get a better-than-retail price is very good.

Here is a quick explanation of the basic differences between the two types of sales, and why I feel REO's are not only preferrrable to deal with, but why the potential for nabbing a "deal" is greater. And why REO properties have nothing to do with the 80's band that sang "I can't fight this feeling anymore":

The difference between REO and Short Sale Properties:

Short Sale Properties:

1. Not owned by the bank…yet. The owner owes more than they can sell the property for, so any offers submitted need to be approved by the bank

2. The owner may or may not be behind on his/her payments. Whether they are or not may influence the bank to accept offers

3. A listing agent is not required to disclose whether or not the seller is behind on their payments

4. Banks are usually less than responsive, as the amount of short sale files they are dealing with is large, and the approval process has to move through several layers of bureaucracy

5. Because the bank does not own the property yet, their motivation is usually not as strong to move quickly, as it may be with an REO property

6. It can take up to 2 months for the bank to approve the sale (!)

7. Closing on a short sale can be an exceptionally long period of time, sometimes up to 6 months

REO Properties:

1. These are properties that have gone through the foreclosure process, and have been auctioned off at a Trustee Sale (auction)

2. The bank now owns the property because no one bid on the property at the Trustee Sale and it reverted back to the bank

3. The main reason a property is not bid on at the Trustee Sale is because the opening bid was too high for a purchase to make any sense. Usually, the owners owed more than the property was worth, so there was no equity to be found

4. Because the bank now owns the property, the motivation to sell the property is much greater than a Short Sale Listing. They need to move the property off of their books, so that they are able to loan more money. Plus, they have spent much money on the foreclosure process and now own a “non-performing asset”. In other words, it is not producing any income for the bank.

5. Because of the increased motivation on the bank’s part, offers are usually accepted quickly, often within 24 hours.

6. Though these properties are usually sold “As-Is” there is greater potential to negotiate a lower price, (and possibly some closing costs) than a short sale for the reasons mentioned above

7. Because of the increased responsiveness of the bank, closing time is much closer to a standard sale

As always, if you have any additional questions, feel free to give me a call at 206.245.4164

My best,

Lake Forest Mark

Seattle's Market Relativity

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 03 Nov 2008 19:48:16 -0600

Everything is relative, as Einstien proved, and when things are pretty horrible all over, being not so bad is good.

While we here in Seattle are not as affected by the economic downturn and reeling housing market as much of the rest of the nation, we are still feeling some pain.

That is why it is nice to hear that Seattle has been named Seattle its top U.S. real estate market to watch next year by the Urban Land Institute in its Emerging Trends in Real Estate 2009 report released Oct. 21.

It is not a completely rosy picture. Some of the negatives mentioned were:

the market braces for rising downtown office vacancies; now at 10 percent
Tepid job growth will flatten rental rates
Housing demand drops and prices will slip, but stay above national averages (remember, it's all relative)

In spite of this, the ULI rates Seattle market a strong ‘buy’ for apartments, and the ‘number-one buy’ among industrials is the Puget Sound ports.

According to their webiste, the Urban Land Institute is a 501(c) (3) nonprofit research and education organization supported by its members.

Founded in 1936, the institute now has more than 40,000 members worldwide representing the entire spectrum of land use and real estate development disciplines, working in private enterprise and public service.

As the preeminent, multidisciplinary real estate forum, ULI facilitates the open exchange of ideas, information and experience among local, national and international industry leaders and policy makers dedicated to creating better places.

Sounds like they've done their homework. And if you do yours (hopefully with the help of a skilled agent), you can navigate your way around this marketplace effectively.

My best,

Lake Forest Mark

Do you want the Good News or the Bad News?

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Fri, 24 Oct 2008 19:31:42 -0500

Posted October 24th, 2008 by LakeForestMark

Ok, so I just returned from a fantastic three week Food Tour vacation in Italy.

Deb and I in Perugia

I know, I know. Please send hate mail to mark@lakeforestmark.com

You can view some of the pictures here

But I have to say that as great of a trip as it was (I won't bore you with the awful details) it was odd. Odd to be away from your home while getting bits and pieces of information that maybe your home would be a very different place than it was when you left.

Looking back, I believe it was a gift of some sort that my counterparts and I were not privy to the daily bits of horrendous news that the rest of the world was exposed to, while blissful and unaware, we ate and drank and were merry.

The bottom line is this: We will survive. As a nation, as individuals, and, yes, even we (or is us?)Real Estate Agents. The wheat has separated from the chaff and there has been an enormous cleansing of wealth, so to speak.

On the surface, this doesn't sound like terribly great news, particularly if it is your wealth that we are talking about.

The thing to remember is that all of that wealth that has been erased wasn't real in the first place. If it was, it would still be here. That is surely not comforting to anyone nearing retirement, but it is true.

We have become accustomed to a level of financial comfort that was really a mirage. It is humbling, to say the least.

This past year, it seems that we have been treated to an ever increasing stream of bad news. It surely has an effect on our collective psyche. I know it has on mine.

I feel fortunate to have been blessed with an opportunity to take a vacation when I did, as I believe it has enabled me to have a fresh perspective on things, or at least to see the world through less tired eyes.

So I have some good news to report,and I'm sure that is good news in and of itself:

1. Existing home sales see largest gain in years. It's true. The median is still falling, but people are buying. Sales volume is up 5.6% overall. This could mean that we are at or near the bottom of the market

2. There is no shortage of money for home mortgages, as the mortgage market has effectively been federalized. Regardless of your viewpoints on government involvement in a free market economy, the fact that there is still a flow of money to home buyers can only be construed as a positive.

3. Ok, there is no 3. I admit it. That's all I've got. 2 bits of good news. But it's something, no? And more than you've probably received all year from the talking head on tv.

And actually, with the election coming up in 2 weeks, there should be a bit more normalcy applied to our every day lives once that has been decided.

I won't cure everything that is wrong with our economy, but it will help.

And I do believe, with the rapid pace world that we live in, that as fast as things can seemingly go bad (not even the pointy headed economists saw this one coming), so is our power to change things for the better.

What choice we have but to believe this and act accordingly?

The cost of foreign fossil fuels (both financially and morally) will force us to invest in sustainable, clean energy
The pain we have suffered individually and as a nation economically will force us to be more responsible and diligent savers
The embarrassing collapse of our free-market system will make it necessary to become better world citizens and to cooperate with other nations instead of self righteously advising them to adopt our models
As a whole, we will learn from our foolish adolescent choices (are we not an impulsive, impetuous 14 year old boy of a nation?) and therefore grow into adulthood, with all of the responsibility and wisdom that entails

What choice do we have?

My best,

Lake Forest Mark

Did you hear the one about the economy?

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 29 Sep 2008 02:31:56 -0500

So, did you hear the one about the economy?

I'm sure that you did, and found the punchline as repulsive and sour as I did.

The cruelest joke of them all, however is the pay of the executives of these collective companies that were recklessly run into the ground and then either gobbled up or bailed out.

Don't get me wrong, I feel that CEO's should be allowed to make gobs of money, so long as their stockholders earn as well, relatively speaking.

But if their gambles don't pay off, doesn't it reason that their pay should reflect their performance?

It makes sense to me.

Here is a list of the Main Offenders, whose pay will effectively be paid by us, the American Taxpayer:

Company: Merril Lynch

CEO: Stanley O'neal

Shortly before being let go, Merrill Lynch wrote down 7.9 billion dollars due to O'neal's foray into sub prime lending. Total write downs are approaching 45 billion

Payout: 161.5 million Dollars

Country Wide Financial

Angelo Mozilo

Company's worth has shrunk from 25 billion to 2.5 billion. Mozilo Cashed out his stock options has the bank went into freefall.

Payout: 121.5 million dollars

Citigroup

Charles Prince

In 2007 Citigroup reported a 57% drop in quarterly earnings and lost a quarter of its market value. So he did the honorable thing and...stepped down.

Payout: 68 million dollars

AIG

Robert Willumstad (July 08-September08)

Martin Sullivan (2005-2008)

Maurice (Hank) Greenberg (1968-2005)

AIG, the worlds largest mortgage insurer, saw it's stock plunge from $27 to $2 per share in 2008. Just agreed to an 85 million dollar payout by the Federal Government

Robert Willumstad rejected 22 million dollar severance package (good for him!)

Martin Sullivan 47 million dollar severance package

Maurice (Hank) Greenberg 6-Year Average Compensation in 2003 25 million dollars per year

WAMU

Kerry K Killinger

Alan Fishman

The appropriately named Killinger, CEO of Wamu since the early 90's, oversaw a rapid expansion of WAMU and its foray into the riskiest types of loans. He was ousted as CEO on September 5.

Fishman was on the job for 3 months before Federal Regulators seized it and brokered a fire sale to JP Morgan Chase

The collapse of WAMU was by far the largest bank failure in US history at over 300 billion dollars.

Killinger Up to 22 million dollars

Fishman Up to 13 million dollars or $928,571 PER DAY during his tenure

Fannie Mae and Freddie Mac

Daniel Mudd and Richard Syron

While boasting of feasting on the reduced competition in the market place and rejecting internal warnings, Fannie slumped 85 percent and Freddie's Value sank to negative 5.6 billion dollars

Payout: Zero!.

While Syron has made over 17 million dollars in compensation since 2003, regulators shot down any severance pay for the two CEO's.

Bear Stearns

Jimmy Cayne

Too busy competing in bridge tournaments to deal with his company's precipitous slide, Jimmy was hard to reach by anybody while Bear Stearns was purchased by JP Morgan Chase for $10 dollars a share, down from $170 in 2007. During the slide, Poor Jimmy saw his personal fortune dwindle from 1 billion dollars to a paltry 600 million

Cayne dumped his Bear stock during the JP takeover, and got a payout of 61.3 million dollars.

Oh, he'll also receive about 5 million in JP stock

Indy Mac Bank

Michael Perry

Perry, a protege of the aforementioned Michael Mozilo, lorded over a bank for 15 years that became the second largest bank failure in US history, second only to the recent WAMU collapse.

His payout is unknown for sure, but Forbes reports that it was in the neighborhood of 38 million dollars.

Lehman Bros

Richard Fuld

These are all unbelievable numbers, to be sure, but the King Daddy of them all, the Hannibal Lecter, Charles Manson, and OJ Simpson of the financial world is none other than Richard Fuld

Lehman Bros, a 158 year old company that weathered the Great Depression, declared bankruptcy on September 15th.

Over the last five years of his tenure, Mr. Fuld raked in 354 million dollars by cashing in options and selling off of his stock. That is NOT a typo. 354 million dollars, and some reports have it closer to 500 million. For those of you with a difficulty processing zeroes, that is a HALF A BILLION DOLLARS.

So, read em and try not to weep. I'll try to have better news for you on my next post.

My best,

LFM

Seattle Animal Shelter Adopt-a-thon

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Fri, 26 Sep 2008 17:35:11 -0500

Megan Tully, who is with the Seattle Animal Shelter, and a contributor to LakeForestMark.com just passed along this info to me:

"Adorable cats and kittens in foster care with Seattle Animal Shelter volunteers will be available for adoption this Saturday, Sept. 27 from 12-3 pm at the Bitter Lake Community Center, located at 13035 Linden Ave. N"

Find a furry friend for fall! More information is available at www.seattle.gov/animalshelter or www.petfinder.com..

FOR MORE INFORMATION CONTACT:
Don Jordan (206)386-4286
(206)953-2529 cell
Katherine Schubert-Knapp (206) 684-0909
Kathy Sugiyama (206) 684-0909

My best,

Lake Forest Mark

If you don't HAVE to sell your home, then please don't!

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Thu, 25 Sep 2008 21:23:22 -0500

The financial news of late has been anything but rosy, and it is the last of my intentions to add fuel to the fire. The housing market is where I butter my bread, after all.

But I would like to point out how this mess that originated with the housing market, is affecting our housing market here in Lake Forest Park and North Seattle in general. I think at one point we felt immune to what the rest of the Nation was dealing with, but that tune is slowly changing.

Did you know that in August there were 270 active residential listings (single family and condos) on the market in Lake Forest Park? And guess how many sold properties there were?

Hazard to make a guess?

3. That's right, 3. That's about a 1% absorption rate, which the percentage of houses sold vs. active listings.

In just East Shoreline (not counting West Shoreline and Aurora Village), there were 441 active listings(!), with 20 sales, for a slightly better 4.% absorption rate.

In West Shoreline, it was similar to the East, with 443 active, and 20 sold.

Now, we are seeing more activity here in September and my guess is that we will end up with slightly better numbers than August, in spite of the Wall Street doing it's best to crumble into oblivion and take the rest of us (and our wallets) down with it.

So, really, my advice to you is if you don't absolutely have to sell your house, then for your own sake and the sake of the housing market, please don't.

This situation will not turn around until a good chunk of this inventory is sold off, and that likely will not happen very soon.

On the other hand, if you are a buyer and you are interested in buying a home and stay in it for years and not months, then the deals out there are plentiful.

In my next post, I will tell you where I think the deals are, and why. I'll give you a hint:

What 80's band had the hit album "You can tune a piano, but you can't tuna fish?". If you can remember their name (or able to Google), then you are halfway there.

I will explain in my next post.

My best,

LFM

WAMU to be purchase by JP Morgan for...............

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Thu, 25 Sep 2008 21:14:37 -0500

Well, for a lot less than you bought the stock at, that's for sure.

In an expected conference call that should be happening about right now, JP is supposed to outline the details of the deal to the media.

So, what you have is this: A company that not too long ago was considered a viable, liquid institution with a stock valued at around 46 dollars a share, is currently valued at a truly depressing $1.69, will be sold on the cheap to the current savior of Wall Street, none other than JP Morgan

The most enraging thing to me, and I'm sure to most of us regular Joes who are aware of it, is the fact that Kerry Killinger, the CEO that piloted this Titanic, will a receive a minimum of 17.7 million dollars for his effort on the way out the door.

Here's a list of some other generous severance packages for the Leaders of failed enterprises:

http://sanantonio.bizjournals.com/louisville/stories/2008/09/22/daily33.html

Read it and try not to weep.

My best,
LFM

Sheridan Beach Club Deeded Rights

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 22 Sep 2008 19:25:58 -0500

If you live in Lake Forest Park, you are lucky enough to have two Beach Clubs to choose from.

That is, if you live in the right neighborhood. Where you live in LFP determines which Beach Club you have deeded rights to, and if you don't live in one of the desired areas, then you're going to have to head South to Magnuson Park for the public beach.

The Sheridan Beach club is probably the more exclusive of the two. It boasts not only a sandy beachfront and sailing activities, but a pool as well. Though our summers can be short, there is nothing like a day on Lake Washington in the summertime.

Deeded Area

Mark Jaeger, in charge of memberships at the club was kind enough to send me this map of the deeded area where you must live in order to become a member. There are also associate memberships, and I would recommend contacting them through the website to get more info.

I haven't had any luck getting a map of the area for the Civic Club, so when I do, I will be sure to post it.

My best,

LFM

Milken's Best City List Includes Seattle..... and Tacoma.

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Fri, 12 Sep 2008 18:08:37 -0500

The Bridge to somewhere, apparently..

The Milken Institute/Greenstreet "Real Estate Partners Best Performing Cities" Index includes Seattle at 17th in a list of 200 Large Metropolitan areas.

This index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. This includes job, wage and salary and technology growth.

Now, before you go stroking your ponytails and clinking your lattes together, there is a bit of disturbing news that comes along with this:

Tacoma is ranked 8th and Olympia is ranked 9th on this very study.

Yes, Tacoma. Olympia, we can accept, with it's University and hipster residents. But Tacoma?

How's that for taking the wind out of your collective sailboats that you purchased with a fraction of your Starbucks/Microsoft stock back in the 90's?

It goes on to say that Tacoma ranked No. 8 overall nationally, moving up from last year’s rank at No. 50. Tacoma scored highest in the category of growth of its high-tech sector.

"How can this happen?", you may be asking yourself. "Tacoma exists merely for us to mock and feel superior to...."

Well, that might have been the case, fellow Seattlites, but no longer. It is time to acknowledge that Tacoma is on the rise and will not stand for our condescending attitude.

So let's step it up, Seattle! Where's your smug sense of superiority? Are you going to let the aroma from Tacoma overpower the lilting bouqet of your organic coffe beans?

I think not! It's time to stop sailing the San Juans, find yourself already, drop anchor and get to work!

My best,

LFM

The Iphone is Evil

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Thu, 11 Sep 2008 00:14:50 -0500

I'm wondering if any agents out there have been using the Iphone and if so, with what level of satisfaction.

I am using a Windows Mobile phone so that I can utilize the Supra Ekey program, and not have to carry around yet another gadget.

The LX8000 phone that I am using is such a dog that I have been tempted a few times in the last week to toss it out of the car window as I drive down Bothell Way.

I can't figure out for the life of me why someone has not develped some sort of bluetooth-to-infrared conversion to allow a wider variety of phones to work with Supra Ekey. As it is, we're stuck with either the Treo, which is still on Windows 5(!), or the clunky, unreliable hunk that I currently use.

I don't care if the Iphone is Evil. I want one:

My best,

Lake Forest Mark

www.lakeforestmark.com

September in Seattle

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Wed, 10 Sep 2008 14:07:39 -0500

September may very well be the most beautiful time of year in Seattle. Not only are the kids back in school, but the weather is pristine and everyone seems to be in a good mood. Maybe it's the combination of the two (!)

We have a had 7 straight days of 70 plus degrees, sunny weather as I write this. We collectively just don't know how to act. Sure, summer is in the rear view mirror, but as I look out the window, you would hardly know it.

So if you're in denial about summer coming to an end, I suggest going with that. There are still things to do this month while the weather is enjoyable:

Puyallup Fair: September 5-21. Western WA Fairgrounds

www.thefair.com / 253.841.5045

Fremont Oktober Fest: September 19-21 - Fremont

www.fremontoktoberfest.com

Festa Italiana -Seattle Center

www.festaseattle.com / 206.282.0627

Go out and enjoy!

My best,

LFM

Radar Guns on the Burke-Gilman Trail

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Tue, 02 Sep 2008 17:41:51 -0500

Posted September 2nd, 2008 on LakeForestMark.com

Were any of you aware that the speed limit on the Burke Gilman Trail is 5 mph slower than in the City of Seattle? Yes, while the rest of the city is fine with would-be Tour De France entrants zooming along at 15 mph, the City of Lake Forest Park has set up a de facto speed trap between Seattle and Kenmore with well hidden 10 mph signs along the way.

I know that we fancy ourselves a sleepy little Suburb, but are we really 5 mph slower than the rest of Seattle?

My peeps on the street tell me that there have been at times 2 of LFP's finest monitoring bike traffic on the Burke-Gilman. Not only that, but they are wearing yellow jerseys, presumably in homage to our presumed steroid-free National Hero , Lance Armstrong.

I'm taking this as a sign that as a community we have little to worry about in comparison with the rest of the world. Really, if we have not 1 but 2 police monitoring bicycle speeds, then we've go it licked, haven't we?

This is good news for us and for those of you looking for homes in the area. If long boarders and speeding bicycles are at the top of our priority list, then we truly live in Eden.

Fence-sitting home buyers take heed: When word gets out, our property values should skyrocket!. Log on to my Remax agent website immediately for a home tour...................

My best,
LFM

Pulitzer Prize winning author at 3rd place books. Kind of.

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 01 Sep 2008 12:59:08 -0500

Posted September 1st, 2008 by LakeForestMark

Pulitzer Prizea and National Book Award winning author Philip Roth will be not be at 3rd Place Books on September 16th at 5 PM, but a reasonable facsimile will be.

There will be a live Webcast interview with Roth on the above mentioned date and time. The author's new book Indignation Day is out and, while he is not out actively promoting the book, he will be beamed in live over the Web.

I guess when you are 75 years old and have won nearly every award possible as a writer and have had your books turned into screenplays, you are allowed a little slack in this department.

Roth is probably most famous for his novel Portnoy's Complaint

Pre-purchase Indignation today, and be entered to win a signed, first edition copy.
You must be present to win.

Check out other author appearances (or quasi appearances) right here on the events tab at

http://www.lakeforestmark.com/events

My best,

LFM

www.lakeforestmark.com

Green Dimes.com helps you stop unwanted junk mail

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Sun, 31 Aug 2008 20:08:01 -0500

Posted August 31st, 2008 at www.lakeforestmark.com

I just ran across a very cool website today at www.greendimes.com

Basically, they help you reduce the amount of junk mail you receive in your mailbox.

Their promise is 90% in 90 days.

The basic free service helps you to contact companies individually, sign the proper paperwork, and stop the flow of unwanted junk mail.

The premium service automates the process for you and they will even plant 5 trees in your name and give you 2 CFL bulbs, a reusable bag, a t-shirt & Little Critter children's book for a one time fee of $36.00.

With Greendimes.com, you can not only stop the inflow of unwanted advertisements, but save valuable resources in the process.

Lake Forest Mark says check it out.

My best,

LFM

Where do the Adventurous go to live? Rain City, of Course

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Fri, 29 Aug 2008 18:53:35 -0500

National Geographic Magazine selected The fifty next great adventure towns

it's September Issue and Seattle, WA topped the list.

Calling these cities " not just the best base camps for outdoor pursuits, but smart investments", the article is just another small feather in our collective skull caps.

I consider myself fairly adventurous, am a Realtor, and I moved here, so naturally I concur wholeheartedly.

Here are the top ten:

1. Seattle, Washington

2. Coos Bay, Oregon

3. Lihue, Kauai, Hawaii

4. Girdwood, Alaska

5. Hood River, Oregon

6. San Francisco, California

7. Joshua Tree, California

8. Leavenworth, Washington

9. Arcata, California

10. Klamath Falls, Oregon

11. Bellingham, Washington

12. Malibu, California

You can read the full text of the article here

My best,

LFM

24 Hour Ballot Drop Boxes

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 25 Aug 2008 15:16:27 -0500

(From the City of Lake Forest Park Website)

24 Hour Ballot Drop Boxes

King County is introducing seven ballot drop boxes throughout the county to provide absentee voters with another way to securely return their ballots without the cost of postage.

Lake Forest Park is one of eight sites around the county. You can return your ballot here.

Lake Forest Park Library,
17171 Bothell Way NE,
Lake Forest Park 98155
near the lower level mall entrance

My best,

LFM

www.lakeforestmark.com

Obama Fund Raiser in Lake Forest Park was a big Success and lots of fun

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Mon, 25 Aug 2008 14:31:14 -0500

Doug Swan, Rabid Obama Supporter...

Great to see all of you at the Obama Fundraiser in Lake Forest Park last night (especially You, Doug. Serves me right to leave my camera unattended...)

As promised, there was music, there was food (lots!), and a nice, positive vibe throughout the evening.

The music ranged from a band of young rockers(sorry as I've forgotten your name. Call me!), to the mellow jazz sound of The Deems as night began to fall.

We were even treated to a rousing rendition of Yes We Can by the young fellas on stage with random supporters joining onstage to help out.

The Deems

Young Rockers

I would like to personally thank Marty Josen for graciously leading me the way to his private stash of Limoncello neatly tucked away in a nondescript blue igloo. You are a scholar and gentleman, sir!

Hope

Dancing on the lawn

Swans and Josens

There was one guest speaker at the event who gave a heartfelt, passionate sermon, the content of which I am still confused about. He spoke in a sort of big tent, revival fashion: His voice was booming and his prose was eloquent, but I'll be damned if I can figure out exactly what he was talking about, and I found that I was not the only one. If someone out there can clue me in, I would really appreciate it. He was an amazing orator.

Brimstone

All in all it was successful night with over 6,000.00 in donations taken in.

The sense of community and common purpose is one of the things that I love about living in the LFP.

You can find the rest of the pictures here:

http://picasaweb.google.com/lakeforestmark/ObamaFundRaiser

My best,
LFM

www.lakeforestmark.com

A night for Obama In Lake Forest Park

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Sat, 23 Aug 2008 15:34:00 -0500

There will be an Obama Fund Raiser potluck tonight in the backyard of Sally Yamasaki & Dan Benson's home at 17868 40th Ave NE in Lake Forest Park.

Bring your sharpened political mind and your checkbook.

There will be live music, lively conversation and good times.

See you there!

LFM

It's easy Being Green

Lake Forest Mark North Seattle Realtor (Asset Realty Group) — Tue, 19 Aug 2008 19:36:04 -0500

Posted August 19th, 2008 on www.lakeforestmark.com

As I set about my education into all things green and earth friendly (which has been exponentially accelerated by fellow blogger and my Newest Bestest Buddy Aaron Campbell of Campbell Energy), the one idea that I keep coming back to is, "How can I be the most environmentally responsible person that I can be.........reasonably".

By reasonably, I mean without going out and forking over tons of money and spending gobs of time on things that may or may not improve my impact on the earth and my expenditure of energy.

I think this is on everyone's mind to some extent. So where does one start?

Quick Confession: I drive a 4 door sedan with a V8 engine. Not exactlly environmentally friendly. When I bought it 4 years ago, I was thinking more of how to attract the opposite sex than conserving energy. Yes, I regret the shor-sightedness of my decision, but am I not human, people? Please save your scorn for now.

I'd rather not sell it (with gas prices, it has lost much of it's cache, and someone else would just be driving it anyway, right?) and get into another lease, especially when it is almost paid for.

Also, as Aaron explained to me while behind the wheel of his mercedes bio-deisel wagon, a V8 engine, when driven responsibly can actually be better than a 6 cylinder, which has to work harder.

I am sure that he was trying to make me feel better, but the rationalization was welcome. As Michael said in the Big Chill (1983):

Michael:
I don't know anyone who could get through the day without two or three juicy rationalizations. They're more important than sex.

Sam Weber:
Ah, come on. Nothing's more important than sex.

Michael:
Oh yeah? Ever gone a week without a rationalization?

So, do I now need to go out and purchase hemp shoes, a new Prius, and live in an adobe hut?

Not really. As Aaron further explained to me, it's all about trade-off.

There are three things that stand out to me as being reasonable and filled with common sense.

1. Did you know that you are better off purchasing a 5 year old Honda than a brand new Prius as far as your carbon footprint is concerned?

This is because a used Honda has already paid for all of the energy that it took to make the car, which is substantial. On top of that, you're still getting 30 miles to the gallon.

By purchasing a new car, even a Prius or other hybrid, you would have to drive many many miles to offset all of the energy that was consumed during it's creation.

Cool, so my next car will be a Honda. That works for me.

2. As far as your house, or purchasing a house, Quality is Green. If you purchase a home that is well built with quality materials and therefore does not risk having to be rebuilt or torn down in the future, that is a Green Move. The materials will not end up in a landfill, and more materials won't be needed for whatever else will be built in it's place. (You can actually extend this logic to any purchase that you make).

3. Localism. Buy local products wherever you can. Whether it is using local materials in remodeling your kitche, or purchasing food grown locally, by eliminating the energy required to transport most items that we purchase on a daily basis, you are being Green.

So, in short, if you are Green at being Green, don't sweat it. Rome was not built in a day. And if you notice, it is still standing, and looking much like it did a millenia ago.

Do the small things, and before you know it, you are making a difference.

My best,

LFM