Uncategorized King County Supply Map February 2014 Well…this pretty much speaks for itself, but…influx of high-paying jobs + rising rates + rising prices. Contact me to talk through your ideas/situation.
Buyers Curious about Seller Financing? I was recently asked by a buyer friend/client about whether the owner of an un-built lot that interests him would consider seller financing. Here are some things to consider: -most banks don't offer land loans. It makes sense when you consider risk from their perspective. Unimproved land (lots) are more risky because without homes on […]
Buyers Argument that housing is actually underpriced Interesting presentation Wednesday at Windermere Premier Properties Breakfast. Gardner acknowledges potential economic issues (more national than regional) and posits that home prices in the Seattle Market may be underpriced v. the trend line. My take: that is likely true for some properties, and appreciation may cure all, but…in this market of low supply/high demand, there […]
Uncategorized Case Study: 364 Ward St I very much enjoyed working with the family members of this South Slope Queen Anne estate. The structure itself was beyond its useful life, and we knew that the buyer would most likely be a builder. Just in case, we positioned and priced the property in order to appeal to eager “sweat-equity” driven homeowners, as […]
Uncategorized Case Study: 2720 3rd Ave #1103 I really enjoyed this sale. It allowed me to put to great use my ability to analyze and to deploy my deep knowledge of downtown Seattle condominiums. We had the home marketed with a somewhat particular tenant in it; not ideal, but unavoidable. We listed at absolutely best-case scenario pricing. When that number didn’t bring […]
Uncategorized Red hot rentals: Seattleā€™s South Lake Union vs. San Francisco Interesting article from GeekWire regarding residential rents in Seattle (my nowtown) as compared to SF (my hometown). It makes me wonder: Without SF-like rent control laws, do Seattle renters actually have more to fear than SF renters over the long term? Is the incentive to buy more significant here than there? If it is, at […]
Uncategorized Purchase Price vs. Current Market Value Just had a client (selling) ask how relevant the price she paid when she purchased is to the current market value. Seems fitting time for a reminder for those interested. My answer: While we have indices that predict current price based on the last purchase, most buyers are focused on recent sold data and then […]
Uncategorized Home prices on the move… Home prices on the move…Well, we all knew this was happening, but here's interesting data and some explanation. Curious about your value/marketability in your neighborhood, for your specific property, or some other specifics? Just let me know and I'll get data, share my ideas, and connect you with other experts. Hope your 2014 is off […]
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Case Study Congratulations Terry & Nancy! Terry and Nancy Beckham came to me in November with a great studio condominium to sell at The Concord. The home was perfectly tuned (staged!) and ready to market. We held the listing until a few days after Thanksgiving, and then hit the market. Just over two weeks later, the first offer came…and one day […]
Case Study Congratulations Joe & Brenda! Joe and Brenda contacted me in early November to discuss moving from a great waterfront home that I had helped them purchase a couple years before. We had not yet sat down for a formal strategy session before Brenda identified the next dream home. They wrote a contingent offer on the new home and did […]
Uncategorized 2929 1st Ave #1115 Check out this fun little Belltown pied-a-terre; completely _done_ and ready as a 1st or 2nd home. No rental cap… http://thriveseattle.com/listing/WA/Seattle/2929-1st-Ave-1115-98121/20801471
Uncategorized This isn’t going to blow the deal, is it?! I realized recently how often I hear this (or some form of it) from one of my clients. It is really interesting to me. The concept is that one side has a request/lack of give that they believe is so small that the other side should simply accept it and move on without fuss. Typically, […]
Uncategorized Why Broker Tours? I just had a listing client ask me about the value to him of Broker Tour. My response: While I didn’t have anyone who said they’d be writing an offer or bringing a client through (obvious value), in my opinion there is still value in the effort, for two reasons: Agents get new clients all […]
Buyers Belltown apartment building sells as tech fuels Seattle-area market I am always intrigued by the $/unit number in these apartment building sales. I would think that this would be a relevant number for renters considering buying. This is the price that an investor is willing to pay to rent this space to you (presumably a premium for the right to use it to generate […]
Uncategorized Congratulations Justin & Kate! This is one of those experiences that restores our confidence that right property will come about at the right time and under the right circumstances. Justin and Kate came into the office eager (and pregnant!) into the maelstrom of the May 2013 market. They experienced a few attempts that, at the time, felt like big […]
Uncategorized Sellers: Considering impact of available inventory before listing I just had client ask: “Do you think it would hurt me to list now, when X property is also listed at a similar price?” My answer: Yes, in terms of basic supply and demand. But, there is more to it than that. If you don’t stand out in presentation or pricing (so, value) your […]
Uncategorized Should I wait to take action? Q: The price is too high. Why don’t I just wait until they lower it and then take action? I get this question a lot. My observations: the best opportunity often seems to come when the property has been on a while at the current price. When the Seller drops the price, they are likely […]
Buyers Battle-worn Buyers I just had another client ask me whether he should make an offer on a property he likes…Buyers typically ask this if they are worried about getting emotionally committed to a home and then not getting it; normally by being "beaten" out by other Buyers. Every case is different, but generally…make the offer. Unless you […]
Uncategorized Insignia An article this morning about Manhattan condo developers (not included) eager to capitalize on low supply spurs me to finally jot my thoughts on Insignia (http://insigniabybosa.com/welcome); the only major condo construction underway in downtown Seattle. With many buyers still wary of the arguably routinized construction defect litigation that hits most new condo projects, a relevant […]
Uncategorized Millennials in the News I’m seeing a lot of focus recently on Millennials.  First, I was interviewed for this article. After about thirty minutes on the phone during which I felt I said all kinds of interesting things, the reporter decided that brevity was the soul of wit and distilled my comments: http://seattletimes.com/html/homesrealestate/2022051165_hrerentersowners20xml.html#.UmVzjkc2TF4.facebook.  The longer version of what I […]