Archive for December, 2008

If you are one of those people who loves going to open houses or even just doing drive by’s of all the homes your friendly neighborhood real estate agent keeps sending you, you are no doubt familiar with how difficult and confusing Seattle streets can be.  Lakes, hills, dead ends, one ways, blah blah, blah.  It can drive even those of us who practically drive for a living nuts.  Here is a quick and easy solution.

DashFly.com is a web site that allows you to punch in as many addresses as you are going to visit and maps the best rout for you.  From the main page you can choose to sign up for an account or simply try it out for free.  I have to admit that I have never signed up for an account.  I just keep using the free map.

Hope it helps.  Give me a call if you need help.

Rob Graham, Accredited Buyers Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com

Popularity: 2% [?]

Ok, call me a hopeless optimist, but we already know what a great time buyer’s are having in the nation as a whole and Seattle in particular.  I want to share a few thoughts on why that should continue in 2009.

1. First of all, interest rates will continue to be low.  Actually near historic lows.  Banks are tight with their money right now but that can’t last forever.  Interest rates will fluctuate a little but should remain low for the foreseeable future.
2. Everyone is trying to improve the housing situation.  The Bush and Obama administrations both agree that housing was at the forefront of the economic debacle and to fix the problem you must first address the housing problem.
3. Seattle has jobs.  While interest rates are determined by national factors, job availability is a local phenomenon.  Seattle still has a low unemployment rate compared to the national average. 
4. Prices have dropped.  The overall Seattle market has seen a drop in home prices, but in particular, with short sales and bank owned properties at record highs, there are even more bargains to be had if you are willing to be flexible.  Look for prices to remain flat and bargains to still be available in 2009.
5. Personal savings increased last quarter.  Go back six months and the average person had nearly nothing in savings.  Flash forward to now and personal savings is approaching 3% of income.  That’s a fantastic trend and shows people are concerned about the economy and intelligently building a reserve for safety. 
6. Sub prime foreclosures have largely worked their way through the system, but the Alt A and Option Arm bubble is looming on the horizon.  If you don’t know what all that is don’t worry about it.  The bottom line is that there will be homeowners who need to sell and bargains to be had for the next few years.  government intervention and refinancing will dull the effect compared to what we saw for the sub prime bubble, but there will still be an effect.

Long story short, it is a great time to jump in and buy a first home, upgrade, or investment property.

The best time to buy any commodity is when no one else will.

For real estate, that time could be now!

Give me a call if you need help.

Rob Graham, Accredited Buyers Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com

Popularity: 2% [?]

For those of you who enjoy spending your Sunday afternoons perusing the Seattle Times and carefully planning your open house rout.  I have a tip for ya.  It is a well held real estate secret, that open houses are a bit of a fraud.  Seller’s all believe that open houses are a sure sign that their agent is working hard to sell their home.  Bull Chips! 

Truth is that open houses serve one primary function:  Opportunities for agents to meet potential clients. 

Very few homes are actually sold as the result of open houses.  There are three people who benefit from open houses:

1.        Listing agents looking to find buyers as clients

2.       Neighbors looking to be nosey

3.       Early buyers to familiarize themselves with neighborhoods and price ranges.

The vast majority of buyers who are serious, about putting an offer on paper will come through with their agent when it is convenient for them.

That is why some agents at open houses are so pushy.  They want to meet potential clients.

Allow me to translate some agent speak you are bound to hear from an open house:

“Are you working with an agent?” 

TRANSLATION

“I am deciding if I should waste my time talking to you or not.”

“So what do you think of the house?”

TRANSLATION

“Tell me what you are looking for so I can steer you in the direction of another home and convince you to work with me”

“would you like a cookie?”

TRANSLATION

“The cookies are laced with narcotics and by the time you wake up I will have you duct taped in the trunk of my car and I won’t let you out until you agree to use me as your buyer’s agent.”

Ok, that last one might be a bit of an exaggeration, but you get the point. 

So what do you do if you enjoy going to open houses and really want to use them to familiarize yourself with neighborhoods or you are just a nosy neighbor who wants to be left alone?  Try these responses:

“Are you working with an agent?”  

 Answer

“Why yes I am, Rob Graham of Windermere.  He is awesome, thanks for asking”

(Ok you don’t need to use my name, but feel free to if it helps)

So what do you think of the house?” 

Answer

“I hate it.  Look at the size of those windows.  Do you have any idea how long it would take me to cover them in aluminum foil to prevent the aliens from stealing my brain waves?”

“Would you like a cookie?”

Answer

“I don’t eat cookies.  Do you have pie?”  When the agent appears confused demand to see the chef.  When they appear even more confused storm out indignantly mumbling that you will never come to this restaurant again.

PS – these conversations can also be easily modified to work with car salesman and pushy sales people at the Banana Republic.

If anyone has other creative responses, please feel free to add them as a comment.  I’m sure a few more will occur to me in the near future, so I’ll keep you posted. 

Give me a call if you need help.

Rob Graham, Accredited Buyer’s Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com

Popularity: 1% [?]

Good question and one I here frequently from friends and clients alike.  Here are the numbers from the last two years in Seattle:

Granted the last two years have not been what you might call typical in Seattle, but a few truisms are indicated by the graph. 

First of all there is a significant drop off in activity in the winter.  If you think about it, this one is fairly obvious.  No one likes to shop for a house or move in the winter.  It’s cold and wet and there are a million other distractions what with the holiday’s and all.  Many buyer’s and agent disappear for December and January and reimerge closer to Valentine’s Day.

What this means for you, is that Winter represents the best buying time.  less competition and more desparation on the part of sellers makes winter a fantastic time to buy.  

Mind you that with less inventory you may not be able to find the exact place you want.  Many home sellers are instructed by their agents to take their home off the market during the dark months and come back on in the spring. 

Even so, for my money, winter is the best time for buyers.

Give me a call if you need help:

Rob Graham, Accredited Buyer’s Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com

Popularity: 1% [?]

1.       Local knowledge.  A good local agent can let you know what is going on in local schools, parks, planned building development, etc.  which may affect your buying decisions.  That is essential in a city like Seattle where every few blocks there is a neighborhood with a unique personality.

2.       Access to inside information.  An agent has access to such information as, how much does the current owner own on the home, how long have they been in the home, how long has it been on the market, and what did the current owner pay for the home when they bought it.  All critical information to making an offer that the seller will accept and is in your best interest.

3.       Help avoiding the pitfalls.  Agents can steer you through the confusing process of buying while making sure you are protected at every turn.  Have the right to get an inspection, have changes made, the ability to walk away should your financing change before closing.  All things a good agent can provide.

4.       Answers to all your questions.  Look we understand that you don’t’ work in the field all day long.  The process has it’s own vocabulary and processes.  You need someone who can explain all that is going on and make you feel comfortable with the process.

5.       The most important and best reason of all.  IT”S FREE.   When a

        buyer purchases a listed property, the seller has already agreed to pay the commission of the agent representing the buyer.  IT COSTS YOU NOTHING.  The only exception to this rule is if you purchase a FSBO or unlisted property. (Even then a good agent should be able to get the seller to pay the comission.)

So there you have it.  Local knowledge, protection, support, education and all for free. 

Give me a call if you need help

Rob Graham, Accredited Buyers Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com

Popularity: 1% [?]