Seattle Real Estate Blog

Entrance to 1-5 at Mercer Street

2009-03-18T23:58:00.000-07:00

This entry to I-5 going North from Mercer Street has two lanes, or so it seems. The I-5 freeway is set up through Seattle to accommodate rush hour traffic with an express lane that changes direction depending on the time of day. There are barriers at the entry of the express lanes that open and close, and when the traffic is going south, this particular entrance to the freeway merges down to one lane pretty quickly around a blind corner. There are signs, but folks still get the surprise from time to time.

Lynette Hensley
Associate Broker

Edmonds Galleries Provide A Day Full of Art

2009-03-09T05:10:00.000-07:00

One of my absolutely favorite places to spend time is Edmonds. In the old, quaint village near the Ferry Teminal there are so many choices a day is much too short to see everything, but I like to gallery hop and fill up a whole day with art, and a little lunch of course. This means saving the Travel Bookstore and numerous other shops for "next time", but anticipation is a good thing, right? The Chamber's website features several "Spend the Day" theamed iteneries...all enticing!

Recently a client and I discoverd a mutual love of art and took a few hours away from house hunting to visit several of the Edmonds downtown galleries and antique shops. Each one has such a distinct flavor that we felt like children being led through the streets by a pied piper, but the temptation was visual. She was down from Alaska to relocate and trying to find the area that felt best, I couldn't resist showing Edmonds off!

First we went to Aria Studio Gallery, where proprietor Joan Archer paints and teaches art. Next door was the Fabric of Life Foundation, which teaches young women in Mali, West Africa, to be artisan-entropeneurs and create a craft business allowing them to support themselves and their families financially. What a wonderful place to go when you need a gift...or a gift for yourself. After that we found we couldn't resist le Palmier Antiques, full of atmosphere and splindid delights from bygone eras.

We looked and looked and enjoyed chatting with the shop owners about the various goodies. And then it was time for lunch! We walked over to Chantrelle, one of the most beloved of Edmonds eateries, where we were lucky enough to find a table for two and enjoyed specialties from the grill.

After lunch we visited a very wonderful little art/craft gallery, don't miss it if you have a chance to drop by. Semantics Gallery (at the moment exhibiting the work of Marcio Diaz) is just off the main street, so you have to make sure to walk over there, but it is well worth the extra few minutes. The owner/artist used to own the largest gem and fossell store in Pike's Place Market, but gave that up to open this splendid gallery. Many fine craft artists are represented, including a facinating case of the owner's sculptures with stone and other natural elements in intricate designs. He also has a great knowledge of the rocks and gemstones displayed in his cases, and we found it hard to tear ourselves away from the interesting stories. I will be sure to bring my little boy with me next time, there is so much to learn there.

That day we didn't get to the Waterfront Antique Mall where there are auctions held weekly and a truly amazing assortment of displays of every imaginable antique, books, furniture, jewelry, just for a start, we had to leave that for another day...not to mention a good many other galleries in the town, the Edmonds Center for the Arts (recently built and quite impressive, with a variety of exciting performances scheduled during the season) and other very rewarding aspects of this special small town close enough to Seattle for a comfortable commute, with excellent schools, numerous community events year round (like the Taste of Edmonds Festival and the Edmonds Art Festival) and the proximity to Puget Sound that makes life seem just that little bit more special.

Edy Kizaki
Realtor, Team Leader
206-331-0152

Blogging about a quality blog ? Why not.

2009-03-09T00:27:00.000-07:00

SeattleBubble
One of my favorite collectors of local market economy news is,
http://SeattleBubble.com/blog/
With neither a rosy or dark perspective on our current realestate market, this blog, collects news, opinion, and statistics, on todays front page, the lead article was on the buying public's current tolerance for debt including a pole and this handy calculator. (image only, go to the blog for a working model)

Another example of pertinent information shown in an easy to digest visual, are these two charts showing the relationship of listings to sales stales and listings taken off the market. (the second chart was an answer to a question raised by the first)

I appreciate the originators format and attention to feed back and commentary, often offering as much or more information in the followup articles as had been in the original post.

Take a look, and dont miss the forums.

Larry Baumgartner, Realtor, CNE*
email @
LarryNLynette@SeattlePowerSearch.com
*Certified Negotiation Expert

Kirkland -- Modern Home with Views of Lake WA, Mt Rainier, Bellevue, Kirkland

2009-03-05T12:34:00.000-08:00

This modern style Four Bedroom, Three and a Half Bath Luxury home is built with the same care and attention as the home next door, but with a sleek, modern sensibility. The atmosphere is refreshingly full of clear surfaces and fuss-free design, allowing the setting and views to take the focus and offering a serene space for living.

Larry and I had previewed the home next door, also built by Legendary Homes, and were invited back to see this home as well, and now we have both homes listed for sale.

A rooftop deck is accessible from the balcony decks off two of the bedrooms to make the most of the views during good weather.

3864 Square feet of quality includes built in vacuum, high tech cabling, fireplace in master suite, jetted tub, media room and much more.

See the other home

Call or email us for a personal tour of these homes

Lynette Hensley
Associate Broker

Larry Baumgartner
Realtor, CNE, Certified Negotiation Expert

Kirkland -- Views of Lake WA, Mt Rainier, Bellevue, Kirkland

2009-03-05T11:59:00.000-08:00

Two new construction homes by Legendary Homes sit almost atop Goat Hill, in the Juanita area of Kirkland. Views of the north end of Lake Washington, Kirkland and Bellevue's skylines as well as Mt. Rainier on a clear day (when the mountain is "out") have been maximized in the layouts of these two homes.

First, the luxury home nearest the road has warm feeling finishes, fine woods throughout, granite kitchen counters with hand chiseled edges--a unique touch. Travertine tiles, marble touches, molten glass and metal tilework. Interesting features include hand hammered copper sink in the media room, a wine cellar with your choice of layouts.

Five Bedrooms and Four Baths make this a substantial place to live, with space for extended family, or room to wander. The media room is your own personal movie house, complete with a refrigerator, sink and cupboard space for snacks. If you'd rather enjoy the views, they are available from the main level of the home, the Master Suite, and the fabulous roof top deck, which incidentally has a kitchen on the same level--convenient!

To quote the builder: "We are a small family owned and operated construction company, in business for over 20 years. We build each house to our personal standards of quality that far exceed the industries expectations. We strive to incorporate functional livability to meld seamlessly with our design elements. As an example, the walls of the media room in the home have fabric covered panels that offer a cozy warm elegant feel to the room and improved sound absorption as well as easy access to the hidden in-wall sound system and electrical components. This was an intricate custom design.

Goat Hill is a unique location. The houses have the convenience of a full service city nearby and easy access to Seattle. But at the same time, they are located at almost the end of a dead end street. It is a quiet and serene neighborhood with almost no traffic. In the summer the children play in the streets together safely riding their bikes, skating and visiting. You often have to drive around the old yellow retriever that enjoys his afternoon naps right in the middle of the road.

As sundown approaches the whole atmosphere of the homes begin to change. The sun back lights Mount Rainier until it appears to be aglow. The city lights come on and a calmness descends making the roof top decks and indoor views almost magical.

Whoever gets the privilege of living in these homes will find breathtaking inspirational views to renew their spirits every morning, the reassurance of good neighbors and a peaceful community each day and nature in all her majesty to awe them as they say goodnight each evening. The views and location of these homes offer a sanctuary that is truly priceless." (With permission from Debbie Kracht, Legendary Homes.)

See the other home

Call or email us for a personal tour of these homes

Lynette Hensley
Associate Broker

Larry Baumgartner
Realtor, CNE, Certified Negotiation Expert

NY Times: U.S. Sets Big Incentives to Head Off Foreclosures

2009-03-05T09:09:00.000-08:00

From the New York Times headlines today:

Business
U.S. Sets Big Incentives to Head Off Foreclosures
By EDMUND L. ANDREWS
Published: March 5, 2009
The Obama administration began an ambitious effort to help troubled homeowners, offering lenders and borrowers big incentives.

http://www.nytimes.com/2009/03/05/business/05housing.html

Lynette Hensley
Associate Broker
Email

Sailing Puget Sound in Winter

2009-03-01T10:43:00.000-08:00

Puget Sound is ever changing and one of the never forgotten facts of our lives here on the edge of the world. Living in the Pacifc Rim city of Seattle here in the Northwest provides so many opportunities to enjoy the abundant nature that surrounds us. But the Sound is for me one of the most treasured facets of our environment!

A client that moved here because of work sent me a link to her photos while taking a walk with her daughter recently. I love this one showing a sail boat on the Sound with the city and Space Needle in the background. Krista, thanks for sharing a perfect moment!

Edy Kizaki, Realtor
206-331-0152
edy@seattlepowersearch.com

Pecha Kucha, The Sound of Chit Chat

2009-02-26T19:32:00.001-08:00

Much like speed dating, Pecha Kucha gives a presenter a defined amount of time to tell his/her story, share interests, and show pictures. Pecha Kucha is Japanese for the sound of chit chat, sort of a "sound illustration" for this movement which is now in 172 cities worldwide. This Seattle presentation was sponsored by Artist Trust, a very active organization for support of the arts in the Seattle and surrounding areas. It was held at Ouch My Eye gallery, on 1st St South, right near Quest Field. We arrived in time to find seats, many more people were standing the whole time. There was also an intermission, and the purpose of that time was to connect to other folks attending. The lineup last night was very interesting to me, included two gallery curators or directors, a former professor of ancient music who talked about the operas they produced at UW in full costume with ancient music orchestras they imported from Italy, and a member of a local puppeteer family who talked about his interest and travels to Asia and the large puppet mechanisms he learned about there. The Italian born director of the Bellevue art museum gave us a tour through the museum, guided by a sock monkey with a mustache that looked suspiciously like his own. (Perhaps they are related!?!)

Here are the guidelines for Pecha Kucha as described on the Pecha-Kucha.org site: "Each presenter is allowed 20 images, each shown for 20 seconds each - giving 6 minutes 40 seconds of fame before the next presenter is up. This keeps presentations concise, the interest level up, and gives more people the chance to show."

This free event is produced by volunteers (Pecha Kuties) and will certainly be repeated. Many of the folks I was privileged to talk with are also planning to present at some future event. Really fun and inspiring!

Lynette Hensley, Associate Broker
Email

Homeowner Affordability and Stability Plan

2009-02-23T17:21:00.000-08:00

The Obama plan is designed to help stave off foreclosure for 7-9 million families by restructuring or refinancing their mortgages. This will keep families in their homes, keep communities stable, and strengthen confidence in Fannie Mae and Freddie Mac.

Immediately after hearing the press conference, the anchor said that this is not enough, it's just a drop in the bucket. But I'm glad to see some help, that if it works well, could be a model for further relief.

The plan also includes provision for displaced renters where the home goes into foreclosure because the owner/landlord can't afford the home anymore.

Here's a summary

Feel free to call or email for more information. I do have more than the summary which I'd be happy to send to you.

Lynette Hensley
Associate Broker
email

Coffee As Art -- Vivace Espresso

2009-02-23T15:01:00.000-08:00

"Una bella tazza di caffe", the beautiful cup of coffee at Vivace Espresso is well named. Since 1988 this company has refined it's presentation, flavor and finesse inspired by the coffee itself. We often go to the shop in South Lake Union to pick up a cuppa as well as the occasional Mighty O Donut or donut hole depending on the appetite. They offer "restretto shots" which I understand to mean that they use only the sweetest most flavorful part of the espresso shot. The owners have published books on barista techniques, coffee techniques as well as a video of Latte art. Espresso Vivace

Vivace Espresso has two locations

Vivace Espresso Bar at Brix
532 Broadway Ave East
Seattle WA 98122
Telephone 206.860.2722
Open 6am until 11pm daily

Espresso Vivace Alley 24
227 Yale Ave N
Seattle, WA 98109
Telephone 206.388.5164
Open daily 6 am until 11 pm. See you there!

Lynette Hensley
Associate Broker
email

Night Boarding in Stevens Pass!

2009-02-09T09:07:00.000-08:00

Last night my sister and I got together with a couple of friends to take a snowboarding trip up to Stevens Pass. Since the night boarding time frame is 4 PM-1o PM we did our best to get there closer to 4, but of course with the digging equipment out and other prep "stuff", we ended up not getting up there until around 7 PM.

Lift tickets at Stevens for the night hours cost $38/person (kids and seniors tickets are less), and it looks like they upgraded the ticket system from scanable pieces of paper to reloadable cards. Every chairlift you go on has a scanner at the entrance, so if you keep your card in a chest pocket the machine can scan you without you having to take your card out. And since the card is reloadable, you can actually keep the card and purchase your lift ticket online, load it to the card and not wait in line the next time. Very convenient! (Not sure how new this system actually is, keep in mind I haven't been to the mountains in a couple of years...)

The slopes were definitely icier than I preferred, but the mountain itself is GREAT. The chairlifts were super fast and the runs were long and can be challenging (if you want them to be!). But the best part of night boarding on a Sunday night is the fact that you pretty much have the mountain to yourselves. Nothing beats not waiting at the chairlifts!

From Seattle, it probably takes about an hour and a half to 2 hours to get up to Stevens. If you take Highway 2, which runs through Monroe, it's a two lane highway so I would plan your trip for about 2 hours, in case you have someone in front of you that's going 10 mph under speed limit ;)

On our drive back (which was at 12 AM) the snow never stopped...looks like we brought the snow down from the mountain with us! It was snowing pretty heavily in Everett, Shoreline etc but it seems to have gone away now.

Amy Kizaki
Buyer Specialist
Seattle PowerSearch Team

206.384.7169 direct
amy@seattlepowersearch.com

Condo Purchases to Require 10% Down Starting March 9th!!!!!

2009-02-07T12:31:00.000-08:00

I got an email today from an agent at a condominium development in Queen Anne regarding mortgage insurance companies changing their down payment requirements.

Starting on March 9th, mortgage insurance companies will require 10% down on any condo purchases. According to the email some banks have already made the switch to this requirement.

What does this mean to you? If you're a buyer considering a condo purchase in the near future, if you get locked into a contract after March 9th you will have to come up with extra funds in order to get approval for the loan.

Contracts that are locked in and approved for a mortgage insurance certificate by March 9th will be exempt.

So, for those of you who are thinking about buying but don't have 10% down...it's time to stop thinking and start moving. The difference could be tens of thousands of dollars (for a loan of $250,000, that's $12,500 more that you would have to come up with).

Now what's the cause of this? Each county has a market classification. Depending on the level of distress in the markets, the classifications rise in increments of 5%. Those in Classification One only requires 5% down. Whatcom County and King County are currently both in Classification One. Whatcom County will move to Class Two (10% down required) on February 24th.

There is still a way around the 10% down, though. FHA loans, who aren't affected by the MC, are still offering 3.5% down. The development you are considering must be FHA approved, though, so be sure to ask your buyer's agent to check this.

On a happier note, there is now an up-to-$8,000 tax credit available to first time home buyers.

Don't have an agent? Call or email me...I'd be happy to help you find your perfect condo (or home!).

Amy Kizaki
Buyer Specialist
Seattle PowerSearch Team

206.384.7169 direct
amy@seattlepowersearch.com

Seattle Children's Theater at Seattle Center, Queen Anne

2009-02-06T02:39:00.000-08:00

It was an hour before dark by the time my son Daniel and I pulled into the new parking garage at Seattle Center. We were meeting friends there to play at the Children's Museum, get a bite at the International Food Court in Center House, and then go on to the Seattle Children's Theater for a long-anticipated pirate stage show. Located right at the bottom of Queen Anne, this is a collection of enjoyment that will take several days initially, and many repeat visits to explore properly.

We almost didn't get out of the parking garage, because it is so interesting and fun, with so many posts, pillars, rocks and other surfaces just out the front door that invited climbing and playing on that it was hard to tear ourselves away. We finally made it, and passed by the rippling chrome copper purple and magenta Experience Music Project building. We passed among one of my favorite little features, the standing forest of brown shiney staffs. Maybe a sculptural reference to a bamboo forest, certainly for my 7 year old fun to play in.

At last we got to the Center House, found Daniel's friend and his mom (my friend) and headed down the curving staircase to the Children's Museum where they played with the many interactive exhibits including the Making Music, Exploring the Wilderness, Clifford the Big Red Dog, and the Art Making areas. Then we headed upstairs again for sandwiches for all and well deserved coffee for the moms.

Last we strolled over (it was dark by now) to the Seattle Children's Theater which is interesting in and of itself, visually a treat. We sat on long padded backless benches with many other children and parents to watch a haunting pirate tale in which the bad guys were really funny and the good guys won. On our way back out, we had to stop while the boys ran and played in the fountain area, no water but still a facinating space to explore with it's dips and curves (a wonderful waterplay treat on a summer day, though!).

We'll go back another time soon for Pacific Science Center, the Seattle Shakespeare Company at the Center House Theater, the Experience Music Project and Science Fiction Hall of Fame, and the Space Needle!

Edy Kizaki
Realtor & Team Leader
206-331-0152

Music Venues -- Q Cafe

2009-02-03T22:58:00.001-08:00

In addition to being Real Estate professionals, Larry and I are also musicians--yes, we spend 24/6.5 together! We met at an open mic sponsored by Victory Music, which is now hosted at the Q cafe every Tuesday night. You might even catch us performing there once in awhile!

Victory has open mics and concerts in other locations, Tacoma, Lynnwood and at Crossroads Mall in Bellevue and there are many other open mic opportunities around town, to play and also to go listen. We will write more about music and listening opportunities from time to time.

Q Cafe
3223 15th Ave W, Seattle 98119
(just south of the Ballard Bridge at Dravus St. exit) • (206) 352-2525 • www.qcafe.org
Sign up: 5:45 - 6:15 pm Music: 6:30 - 9:00 pm
Cover charge: $3 general public, $2 members. Performers don't pay!
Wonderful large venue, very family friendly. Coffee, tea, soft drinks and pastries available.

Lynette Hensley
Associate Broker

Tour of the Washington State Ferries

2009-02-03T21:34:00.000-08:00

One of the most wonderful things about living in the Seattle area is that we are surrounded by water, trees and mountains. Trees all around, mountains to the East and West, and big ones to the North (Mt Baker) and to the South (Mt. Rainier). Driving around the area, views will open up to reveal all these beautiful features around us.

To fully enjoy the water, it's best to use a boat--and if you don't have your own you may like to take a ferry to locations around the sound, far or near. Larry and I love to take a ferry from Anacortes in the summer to the San Juan islands. Our favorite is probably Orcas Island where there is an indie music festival sometime in mid July called Woodsong. Two days of almost constant indie music....it's worth checking out--ask us for more info--we've been to the festival a couple of times and just love it! But that's actually another blog post!

Here's a little photo tour of our ride to and from Port Orchard yesterday where we went to take a BuyerTour of a historic building for sale, an old grange hall that has a dance floor, stage, and a loft as well as a kitchen and meeting space. Zoned residential, it was to be renovated into a residence, but now it's for sale.

The Washington State Ferry site is comprehensive, with good access to schedules and fares, and they also have a mobile version if you need to access it by mobile internet.

Lynette Hensley
Associate Broker

Sterling Square Condo In Trossachs

2009-02-02T22:29:00.000-08:00

Here I want to introduce you to this fabulous 2/2 Condo in the small Sterling Square complex with its beautiful 2 story condo buildings. The location of these condos is on the border of Sammamish and Fall City with breathtaking views of Mt. Si and the Cascade mountain range.
In particular I want to show you this wonderful unit #205 on 1855 Trossachs Blvd SE. This unit has an attached one car garage with an access door to the unit. The unit is located on the 2nd floor and is right across from the club house. It features a well appointed kitchen with all appliances in place and a wonderful breakfast bar which can seat 4 of your guests.
The kitchen is open to the dining area and living room, which both are very spacious and bright, due to the large windows surrounding it. The living room has a gas fireplace with room for your TV over it. The TV and fireplace can be enjoyed from the kitchen, dining area and of course the living room.
Down the hall way you will find the full 2nd bathroom adjacent to the 2nd bedroom/office. The 2nd bedroom window looks over to the Cascade Mountains and floods the room with light.
The same holds true for the large master bedroom. You can comfortably fit any size bed there. The master bath and large walk-in closet is off the master bedroom. The master bathroom features 2 separate vanities with plenty of storage room.
This unit features 9 foot tall ceilings, and wall to wall carpets. It has been completely repainted in warm Northwest colors which give you a cozy ambience.
And here is a brief explanation why this area is called Trossachs and Sterling Square. The Trossachs itself is a small wooded area in the Stirling council area of Scotland. The scenic charms of this area came to popularity when Walter Scott extended his romantic portrayal of Scotland's past from border ballads to poems of a medieval past rich in chivalry and symbolism, with his 1810 poem “Lady of the Lake” giving a roll call of Trossachs place names, the lady herself being found on Loch Katrine. Scotland's only lake, the Lake of Menteith, lies about 6 miles (10 km) to the south east of the glen, on the edge of the Trossachs area.
I hope I have been able to make you curious enough o take a look at this wonderful place with the virtual tour. Please enjoy and do not hesitate to contact me with any questions you might have.

Tangletown!

2009-01-27T22:30:00.000-08:00

From 40th to 80th between Greenlake and I-5 Freeway is one of the most desirable locations in the Seattle area. This area is full of homes with a high walkscore, near Greenlake which is a fantastic place to walk, bike, take your dog. And just around the corner you can find the Mighty O Donut shop, with organic whole grain, mighty delicious donuts full of vitamin "D" (for donut). Flavors like Peanut Butter and Jelly, French Toast, and don't forget the mini donuts and the donut holes! Our friends The Hayburners turned us on to them. Thanks Dave and Jennifer! (They are some of our good musical friends--as in good music AND good friends!)

Also take a look in the Meridian Market--it's a nice neighborhood market with some upscale selections along with basics for quick pick up.

Homes in this area range from $324,900 to $1,100,000. Many are new construction, and there are also turn of the century Craftsmans, townhomes, mid century homes as well as modern built green homes. Currently there are 51 residential listings and 5 condo listings from $225,000 to $435,000. Ask us for a current list, no problem!

Lynette Hensley
Associate Broker

Mae's Cafe Phinney Ridge

2009-01-27T21:52:00.000-08:00

Go to Mae's for Breakfast--in Phinney Ridge. Our artist friend and client Kathy decorated the bathrooms there with maps and 3 dimensional pieces like plastic pears and flip flops attached to the walls. Gotta see it! She's the owner's friend so we've eaten there with her a few times.

The food is good old fashioned breakfast, with lots of options, and the decor is funkalicious. One room is all about cows, and one is about Elvis. It's often crowded, which is a great sign of good food in Seattle.

Lynette Hensley, Associate Broker

Seattle Home Improvement Show

2009-01-27T20:56:00.000-08:00

The Seattle area offers many home shows throughout the year. Larry and I took in the Home Improvement Show at the Convention Center. There we entered lots of contests, signed up to have someone out to bid replacement gutters for our home, and met vendors with many new products for improving homes. In no particular order:

Window coverings by Nancy Stock at Residential Solutions
V-Kool window film for UV protection
Leaf solution gutters
Puget Sound Solar Electric systems
Re-Bath--fit over your existing bathtub
N Compass construction company remodelers
Builder Showroom--see kitchen styles to choose from
REM sleep solutions -- beds and sleep products
Solatube -- these are cool! Use natural light from a tube through the ceiling.
Solar Star attic fans -- NW Natural Lighting
Conner Remodeling and Design
Walk-in Bathtubs
WESSCO Blinds
EPA -- Lead poisoning info for renovators
Seattle Design Build -- we build sun into Northwest Homes
Natural Stone Veneers
Masterheat -- radiant floor heating

And this was just a sampling!

Larry and I have contact info for all these vendors, and oh so many more. Just give us a call!

Lynette Hensley, Associate Broker

Madrona Shoppes

2009-01-27T19:38:00.000-08:00

Glassybaby in Madrona --
Larry and I had fun talking to the folks in the shop at Glassybaby -- Erin showed us around and told us about their product. They make glasses. Simple! These beautiful little jewel glass nuggets have been featured in Martha Stewart, and more than 50 other publications.

The story is that the owner,
Lee Rhodes, after fighting a rare form of cancer, decided to learn how to blow glass, and glassybaby was born. There's much more to the story on their website--just click the link above.

Used as votives or drinking glasses, these handblown cups are made in many wonderful colors, and with a small votive candle placed in the bottom, the warm glow is for your calm and serenity-making at home. Or the slightly bigger version is for drinking from.

The Madrona location is where the glass is blown,
and you can watch glassblowers handcraft them right there in the showroom.

Store
Mon-Sat, 10-6
Sun, 10-3
3406 East Union Street
Seattle, WA 98122
ph: 206-568-7368
fax: 206-985-4500

Lynette Hensley, Associate Broker

For Sale By Owner

2009-01-24T21:08:00.000-08:00

Are You Sure You Want to Buy, or Sell, FSBO (For Sale by Owner)?

Ask yourself if it's worth the risk......

During the summer of 2008, I had a client contact me to let me know he decided to pursue a home purchase being offered "FSBO," otherwise known as 'For Sale By Owner.' Of course I didn't take this as the best of news. I responded by saying I respect whatever decision he chooses to make yet I'm here to help regardless and thanks for the opportunity to be of service. In addition, I felt obliged to bring a few things to his attention, to help him make an informed decision, which is part of what being a good Realtor is all about.

Now unless a person is a Real Estate professional, someone who works in an associated industry, is an Attorney specializing in real estate law, or a seasoned investor to possibly include builders and developers (to name a handful) I wouldn't suggest purchasing a property through a "For Sale by Owner" scenario. If you have, or are currently considering going this route, below are a few things to ask yourself and keep in mind.

1. How does one truly arrive at what is a fair price for a property without the assistance of a Real Estate professional? Sure, we are in an age of computers, people can pull flyers from other properties in a neighborhood as well as even consult comparable properties listed in local newspapers. In today's market however, looking at "Active" comparables is not sufficient. What one needs to know is, what comparable properties have recently sold for, as well as where properties are priced which are currently under contract. Will someone attempting to buy For Sale By Owner, be able to negotiate the best possible deal? If one isn't a professional, my experience w/ sellers in particular utilizing such tactics is they often are unrealistic about their price. As a seller, what's the time frame/how soon does the property need to sell? If one doesn't have a Realtor heavily marketing and drawing traffic to the property resulting in a good and acceptable offer coming to the table in a timely manner, will the additional months of mortgage payments being made justify the savings of not employing a Realtor or offering a commission in the first place?

2. For any sellers considering offering your property FSBO, some websites designed to provide a fair market value are more often than not, WAY OFF with their 'estimates' on property. So for buyers, this could work to to ones advantage, or provide an unrealistic value to ones disadvantage. Now if I were in contact with a seller who was considering the FSBO route, I'd of course be happy to prepare a CMA (Competitive Market Analysis) and even visit the property to point out things which would help them succeed with their efforts to sell 'For Sale by Owner.' I hope that if their attempts to sell on their own were unsuccessful, they would do the honorable thing if it comes time to list w/ a Realtor, providing me with the first opportunity. I'd also encourage sellers to offer a commission to a buyers agent to attract increased activity and also get some added protection and guidance since when I've represented buyers in the past on FSBO transactions, there are indeed duties I've performed which would have been part of the listing agents responsibilities, had the seller contracted one. If a seller does succeed w/ their FSBO efforts, I also hope they'll remember to refer me to others they know looking for a Realtor based on an appreciation for my contribution, recognizing any value I contributed to their success and or experience.

3. It is not uncommon for there to be items listed on a title report where, unless one is familiar with what they are and what they translate into for Mr. and Mrs. Buyer, a good chance exists one may get themselves into a regrettable situation. Now laws vary from state to state but on the federal level, they are the same. I've done business in both Hawaii and Washington (and I know Hawaii laws are modeled after California). Based on these experiences, our contract forms are designed to hold sellers accountable and more often than naught, to protect a buyer. Without using state association approved forms, a seller is not as at risk for liability. I would definitely question where the seller is headed (for instance, if leaving the state - for any buyer working without a Realtor, this may be a 'red flag'). At the very least, one will want a real estate attorney to review everything. For me personally, I have an escrow company I like to work with who also specializes in real estate law....even though escrow is to be a neutral third party, this is a nice 'perk' for me and my clients.

Here is a first hand, true life example to support why one would want to use a Realtor. In January of 2006, I wrote an offer on a new construction home on 2.8 acres (approx 120,000 sq ft) in Monroe. Once I received and reviewed the title report, I noticed ALL but less than half of one acre (approx 20,000 sq ft) of the property was NGPA or "Native Growth Protection Area." Legally, for my clients, this translated into them not being able to landscape, ride ATV's, have grazing animals etc on the majority of this property. Once I brought this to their attention, they decided they didn't want the property and were able to back out, based on the contingency time frames (another reason for working w/ a Realtor, to know what needs to happen when so as to not be out of contract). Anyway, getting back to my example, my clients backed out, got their earnest money back and we were done w/ the seller and his agent and that property.

A year later, another agent from my office at that time, acquired a new listing and I noticed it was the same property I had rescinded the contract on for my clients a year earlier. The seller of that property had decided not to work any longer w/ real estate professionals and to attempt selling FSBO. Obviously, there are rare occasions, these attempts do actually succeed. So I found out from my fellow Realtor friend w/ her new listing, her client had bought the same property directly through the seller not knowing the issues regarding the majority of the property being NGPA. As it turned out, there were also issues regarding placement of the septic system which I hadn't yet discovered since with my experience with this property, I hadn't yet pulled the county "as built" for the septic system design....the NGPA issue was enough to know it didn't make sense for my clients to go any further. So anyway, her client ended up buying the property thinking it was a great buy and he was going to "flip it" for a profit and so employed her to be his listing agent. Having bought it FSBO, he was unaware of these other issues and a year and a half later still had not sold the property. As far as I know, the FSBO buyer of this property (who has tried to sell) has not taken any legal recourse.

5. Lastly for a buyer to keep in mind, sometimes a Seller who has decided to go FSBO mainly to try and save on commissions, may still be willing to pay a commission to a Buyers Agent. If they aren't offering what is known as "courtesy to broker" (willing to pay a commission to a Realtor), usually they will if the offering price reflects it (if they won't, I'd question if they might have something to hide!).

I'm not attempting to intimidate or scare any readers but to make people aware there are benefits to employing an ethical Realtor, who will "have your back" so to speak when it comes down to purchasing (and selling) a property. As stated in the example, someone who is not working w/ a Realtor could be attempting to hide something and a buyer who is not experienced w/ the process or what to look for could be putting themselves at financial risk.

Uwajimaya, Seattle's Best Asian Grocery Store!

2009-01-20T11:42:00.000-08:00

Uwajimaya, the largest Asian grocery and gift store in the Pacific Northwest is 81 years old and still going strong. Founded by Fujimatsu and Sadako Moriguchi in Tacoma back in 1928. the family perservered and re-established after WWII's internment of Japanese-Americans. After being released from Tule Lake Internment Camp, the family sold fish cakes from the back of a truck to local Japanese farmers and laborers. Now, it is still run by the Moriguchi family's four sons, three daughters , many grandchildren, and over 400 employees, but since 2000 from it's new 66,000 square foot flagship store, it envelopes three whole city block on 5th Ave South in the International District. The store boasts one of the largest fresh fish tanks in the Northwest with an impeccably fresh selection of seafood, produce and meats. Almost any imaginable Asian food item and everything in between can be found here. Variety ranging from rice cakes to ramen, bakery to tofu, seaweed, sakes, wines, dishes, and even appliances.

As an owner of a Japanese restaurant, Uwajimaya, named after the Japanese fishing village of the founders, remains an indispensible resource for all of us. Twenty years ago, I would shop there daily, before many fish purveyors delivered to restaurants, and purchase just enough fresh fish for my daily business needs. In doing so, I created a bond with many family and staff members that are still there. It is like coming home for me everytime that I walk into the doors. On one memorable evening, when the founder's son Tomio Moriguchi came to my restaurant Toyoda Sushi for dinner, I went to greet him and he said with a grin, ..."They tell me that you are our best customer...". I am always greeted warmly by Tomio and his sister Tomoko Moriguchi Matsuno and my dear friends in the Seafood Department. Tomio handed over the CEO seat to sister Tomoko in 2007 after more than 40 years at the helm.
For forty years that I can remember, it has always had a special place in my heart for my family and I. It is a tradition that gives comfort and so much more to Seattlelites from not only Japan, but all over Asia as well as locally. Uwajimaya is a great hub of Asian food and cultures, and the corporation has given back so much to the community in the form of donations and support of the arts such as the Wing Luke Museum. I bow with respect and honor to my favorite local grocery store in Seattle!

Helen Toyoda

Realtor

Helen@SeattlePowerSearch.com

206.383.8182

Flooding South of Seattle Causes Detours

2009-01-09T23:31:00.000-08:00

On January 8 my family and I finally made our way through out the door and into the car on a long trip to Westport, WA after numerous attempts. We had been planning to make this trip for months but something would always prevent us from getting there, like a job, technical problems with the car, baby sickness, etc.

You will not believe it...but halfway through the journey, in Olympia, we got a phone call that the roads were closed and we had to turn around. Always check traffic news and weather forecasts before you leave for anywhere...I mean 'anywhere'. Even if it is just 15 miles away from your house the trip back home might take you a good long three hour drive at a half a mile per hour speed. That's what happened to me on the way back from a grocery store when I had to take a detour because of R169 being closed due to the flooding. You are really lucky if you don't have a very important meeting or job interview that day! Let's be careful out there!!!

The Seattle Gov Site gives these resources numbers for reporting flooding:

During severe weather, call (206) 386-1800 to report flooding and sewer backups

24-hours a day, 7 days a week.

Anastasiya Moshofsky
Real Estate Professional
(253) 315-9628

Capitol Hill -- Volunteer Park Cafe

2009-01-09T12:00:00.000-08:00

We discovered Volunteer Park Cafe while helping one of our clients get his townhome on the hill last summer. Larry took me to the Park itself, (here's our tour of that landmark if you need a little bit of last summer and some flowers to look at), and since we were hungry we thought we'd try this little place we saw in the neighborhood on the corner of Galer and 17th. I think Larry will have his own words about this place, and the food, but I'll do my part now.

Best for you to just know that it's there, and really worth visiting for breakfast, lunch or dinner. Every time we go it's so delicious. For instance, we had a pear and chevre cheese pizza along with a salad that was just a perfect accompaniment. We look forward to some weekend morning when they serve Pear Brioche French Toast. Doesn't that sound great?

It was a grocery store in the day with delivery service, now a bakery and restaurant with lovely wait staff, great chefs and a menu that refreshes seasonally. Not your garden variety cafe. They grow their own produce in their backyard as well as buying local. They have a definite commitment to community, utilizing local sources as well as providing a local community place to meet and enjoy food. The center table in the place is one long table that can seat several parties, which encourages conversation, and there are tables around the perimeter as well as outside in good weather.

Nice!

Lynette Hensley
Associate Broker, Realtor

Clouds over North Seattle

2009-01-09T11:34:00.000-08:00

OK, this isn't the meatiest blog post you will ever read.... but I like clouds and there were some wonderful ones over Sam's Club in North Seattle last week. Shared here with you!

Sam's Club at 125th and Aurora, is similar to Costco, a warehouse/bulk buying setup with a membership based clientele. We belong to it primarily because they offer $4 prescriptions. We get roasted chickens there, cat food, and even though it's just the two of us at home, we do buy some things including business supplies in bulk. SAM'S CLUB

BUT you can't buy clouds individually OR in bulk, they come free with this blog post or in person only!

Smilin' atcha--

Lynette Hensley
Associate Broker