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For Buyers Category

Seattle Making a Comeback

Kiplinger just published an article noting 11 cities that are primed for a comeback in 2011.  Seattle is one of the cities mentioned in their list.  Read the article HERE.

The Great (Condo) Depression

Condos

This past week I attended another real estate auction with a client who was interested in purchasing a condo that was being sold. I was very familiar with many of the condo complexes that had units on the auction block and it stunned me to see the final bids for many of the units.  This got me thinking about a generalization that I’ve heard many times over the years.  It goes something like this: “Condos tend to appreciate slower in a rising market, and depreciate faster in a declining market.”  I don’t know if I agree with the appreciation part, and I haven’t done the actual analysis so I can’t state for a fact that this dictum rings true, but I have seen the declining side of the market and can state (at least anecdotally), that this part appears true. Read the rest of this entry »

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What lurks in Those Seattle Victorian Homes?

Older home with lead based paint

Older home with lead-based paint

As a child, I was initially raised in a very old apartment building in San Francisco, CA.  I spent countless hours looking outside the bedroom window and down at the street, much like the child in the photo above. My mom even tells stories of me as a baby, chewing on the wood of the sills and other painted objects. “We were so poor that we couldn’t afford teething toys…”. Read the rest of this entry »

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A Primer for Buyers

Real Estate can be fun!

Real Estate can be fun!

I enjoy working with first time home buyers.  I get a kick out of helping them purchase their first home, and teaching them in the process.  One of the tools I use to help educate buyers is a little exercise called “The Housing Priority Game”. Disclaimer: I didn’t create this game and I honestly don’t know who to give credit to for its design.  I came across it years ago and my copy was getting very worn so I’ve re-typed it for clarity. Read the rest of this entry »

Property Disclosures – What Buyers Need To Know

Form 17

Since 1995, sellers in Washington State have been required by law to provide to potential purchasers a document titled “Seller Disclosure Statement”. This disclosure comes in a few different forms, depending on whether you are purchasing an “Improved” property (home, condo, etc.), “Unimproved” property (generally raw land), or “Commerical” property.  Whichever type of property you are purchasing, the purpose of the disclosure is the same. It is provided so that you, the buyer, have information about the property that you may not have known otherwise unless you were the seller. Read the rest of this entry »

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Do You Want to Flip a Home in Woodinville?

Cottage Lake

You’ve heard the naysayers. Prices are down, and you can’t make money in real estate any more.  WRONG!

CNNMoney ran an article recently about the opportunities some investors are finding in various parts of the country.  Real estate is local, and what happens in other parts of the country like Florida, may not be provide the same experience here in the Seattle WA area.  Fortunately for us in the Pacific Northwest, we appear to be recovering, if only slightly.

Cottage Lake Opportunity

Cottage Lake Flipper

You’ve heard the stories about the pristine car that grandma drove but was always garaged and has very low

miles on it?  How about the home that grandma lived in for 50 years? Unfortunately, it was neither updated nor maintained like that mythical car.  But, where there is work, there is opportunity.

This is one of the least expensive homes in the neighborhood and could have great potential once cleaned up. It isn’t lakefront property but it’s only a 5 minute walk to the lake (or 2 minutes if you make friends with your neighbors on the lake).  The kicker is that it backs to a large tract of open space that isn’t likely to be developed, and offers great views of nature.

Myths do Exist in REALiTY

Speaking of grandma’s car, my dad once picked up a pristine ’68 Mustang from a little old lady in San Francisco.  Her son owned the car before he died, and the car sat in the garage for a few years until she cleaned it out.

If you’d like to read the CNNMoney article, click HERE.  And if you’d like to see the inside of the home or make an offer on it, give me a call!  You’d better hurry though because I’m working with 2 investors already who may have an interest in it…

Is It Time To Buy Again?

Sometimes I’m a bit slow on the draw.  Today is no exception.  Here is an article that was published in late March that I just came across.  It’s a long one, so get your coffee cup ready…

In a nutshell, it’s an interview with Mike Castleman, CEO of Metrostudy, a company that tracks real-time data on the country’s inventory of new homes.  You can read the article HERE.

I try to bring a balanced view of the housing market by providing a variety of articles, each with unique and different perspectives.  As always, feedback is welcome…

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Are Disposable Relationships Ruining your Chance at Happiness

Man in trashcanSomehow, I’m on an email list for eHarmony, and I get occasional articles in my inbox.  I usually just delete them and go about my day.  However, this particular headline caught my attention, not just because I’m single, but because this same headline could just as easily apply to Real Estate.

eHarmony for Real Estate?

In reading the article (click HERE to read it), I realized that there are many similarities between dating and real estate. Just scan through the article headers on their site and replace the word Date (or relationship) with Realtor. You could use the two words interchangeably except for maybe the sex articles. Read the rest of this entry »

What does Gene Amdahl have to do with Real Estate?

News headlineBack in the early days of computing, Gene Amdahl was a computer scientist at IBM who later started his own mainframe company. At the time, IBM was the undisputed King of the Hill, but Amdahl had a solid product that was a direct competitor to them. IBM’s marketing, PR and sales force used tactics that Gene Amdahl coined FUD in order to crush the competition. Read the rest of this entry »

Woodinville Home Back on the Auction Block

Woodinville homeJust yesterday, I was touting about how to buy a home for pennies on the dollar (click HERE to read that post). In that post, I mentioned a home in Woodinville, WA that sold for $490,000 at a recent auction I attended. What happened afterward is a complete surprise to me… Read the rest of this entry »

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