Eastside Real Estate Working-for-you!

It's fun catching up with past clients!

On Monday, I was invited to visit Chris and Annette, who is starting the process of selling their current home to buy a larger one. 

I sold their current home to them several years ago.  It was fun catching up with them and seeing their improvements.  Chris and Annette completely remodeled the kitchen, installed a very nice hot tub, remodeled the bathroom, installed french doors off the bedroom to the deck and completed many nice smaller updates.

It was actually hard sticking to business as the conversation kept going back to changes, fun and hobbies.

One of Chris' hobbies is working with exotic woods.  He has a lathe and the turns wood create beautiful objects.  Toward the end my visit, he pulled out a beautiful burl myrtle wood pen that he built.  It is gorgeous!  There is nothing better than writing with a fine pen.....especially one made from wood.

Thank you, Chris and Annette!  It's been fun watching your house turn into your home, your growth in the workforce and your interests and hobbies.   

Greg Perry
Kirkland Realtor
www.425realty.com

Ever wondered what the real estaste business is like?

This is cute..........

'Nuff said

Monday's Inspiration -- Livin' life

And in the end it's not the years in your life that count.  It's the life in your years.
                                                                             ......Abraham Lincoln

Happy Birthday 425realty.com!

Today is the one year anniversary of our very first post on 425realty.com!  It has been a pleasure creating the Seattles Eastside's single best resource for real estate information.  Whether you are a home buyer, home seller, market watcher, bubble believer, or a home owner who's happy where you are, there is something here for you.  And you know what?  Its been a blast bringing not only real estate, but regional and personal news to the people of Seattle's Eastside. 

It is amazing how much we have covered in a year's time! Home buyers and fellow real estate agents would be remiss to not read our featured article "The secret working efficiently with buyers". It is without a doubt the very best article to remove the mystery for buying a home.  The same thing can be said for home sellers and the articles "Selling your home:  5 critical areas to squeeze out the last dollar" and "Pricing your home to sell."  As good as those articles are, the single piece of work on the site that draws more traffic than any other is our utilities page!  We have every number for every service in not only Seattle's Eastside, but the whole Seattle area! 

My personal favorite sections of 425realty.com are our weekly sections "Friday's Did You Know?" and "Monday's Inspiration".  They act as nice bookends to the day to day business of buying and selling real estate.

When we started the blog it was our hope to bring transparency and comfort to people buying and selling homes.  Along the way something amazing happened.  It became a PHENOMENAL tool for us to list our clients homes and gain more exposure than any traditional real estate marketing methods.  The way we have created a website for each induvidual listing, combined with the content rich articles we write on the main blog, made a google magnet for people looking to sell their homes!  I'll never forget how pleased I was when a seller called after finding their home on the first page of a google search! Admittedly, it was unintentional, but what a great accident!

Going forward, we will build our BlogCast video section (if I can get the old man to loosen up on camera) and try to stimulate more participation with new and improved contests.  We know your reading we see the stats, now lets comment people!

425reatly.com has also turned into a fantastic way to meet clients.  The clientelle that contacts us through the site are savvy and educated, therefore demand a high level of service and knowledge.  These types of clients are a priveldge to work for!  Allowing us to exercise our professionalism in the industry is always a pleasure, so we say thank you.  We are never to busy for your business or your referrals.

Lowest Interest Rates In 3 Years! (I think?!?)

Wow!  What a ride!  Since the fed dropped interest rates 3/4 point yesterday, the markets have been on a wild ride.  In chatting with several trusted mortgage originators, most attempts to lock loans were met with either an overloaded system or the lenders just shut them down.  At one point mortgage rates were under 5%!  Talk about a volatile day!

Here's what Rhonda Porter had to say in a response on the Seattle Real Estate Professionals Blog earlier:

Posted by Rhonda Porter at 1/23/08 4:25 p.m.

Greg, I had the same experience! It was so frustrating. I'm still getting back to people (I'm just taking a quick blog break for my sanity) with GFE's that are higher than they anticipated.

With how crazy today and yesterday have been...there's no reason to think tomorrow may be any different. Since we ended on a high with the markets...I'm wondering if we'll have some profit taking and perhaps some lower rates tomorrow.

One thing I do know is that next Wednesday the FOMC meets and then we have the Jobs Report on Friday. Both of these factors significantly impact mortgage interest rates.

Buckle up kiddies!

There you have it.  Buckle up kiddies!

You can see Rhonda on her own blog, The Mortgage Porter (one of the very best!)

So......Market Value. What is it?

Market value isn't what a neighbor sold his house for early last year.  It has nothing to do with the last value the appraiser came up with for your last refi.  Market value is not the value placed on your home on your last tax assessment.

Market value is exactly what someone is willing to pay for your house today.

If you want your house to sell, it must be priced correctly for the current market conditions and be put in it's best possible condition.

Monday's Inspiration -- LEARN, DO, TEACH , The Key To Mastery!

By Greg Perry, Kirkland Realtor

So what about formal education?  You know --what we do through high school, then college.

Here's what some notable people have to say about education:

"We are shut up in schools and college recitation rooms for ten or fifteen years, and come out at last with a bellyful of words and do not know a thing."

Ralph Waldo Emerson (1803-82) U.S. essayist and poet.

"They say that we are better educated than our parents' generation. What they mean is that we go to school longer. They are not the same thing."

Douglas Yates

"[Education] consists mainly in what we have unlearned."

Mark Twain (1835-1910) American writer.

Many of the brightest minds that the world has seen seem to have rather harsh things to say about formal education -- the kindergarten through college part of our lives.  Perhaps it is because they discovered that real learning comes after doing.

I stay in the learning process.  I go to at least 4 seminars per year and take the best classes possible for real estate, my profession.  What I have found for myself is that almost everything I hear in a class or seminar is lost.....unless I put at least one thing that I heard into action.  That is where experiential knowledge happens.

Over the years, I've heard Brian Buffini, a mentor of mine, say the key to mastery in anything is a 3 step process.  LEARN - DO - TEACH.  I believe him, because I've experienced mastery in a few disciplines with this formula.

Don't stop your learning with your formal education.  No matter what you do for your occupation, keep in a continuing education curve.  Find at least one idea in every seminar or class that you take and make an intentional effort to implement.  After you make the idea into a working discipline (a standard of practice) , share the idea with someone else and you'll be on the road to mastering it.

JUST DO IT! 

Friday's Did You Know? Mt. Si fell from the moon

In my research of Mt. Si in the Snoqualmie Valley, I learned of this fantastic legend.  So to continue the recent Friday's Did You Know's this weeks is again about Mt. Si and a legend.  From Wikipedia:

Mount Si figures prominently in a Prometheus story from the Snoqualmie tribe. According to the story, recorded by Ella Clark in 1953, it is the dead body of Snoqualm, the moon. Snoqualm had ordered that a rope of cedar bark be stretched between the earth and the sky. But Fox and Blue Jay went up the rope and stole the sun from Snoqualm. Snoqualm chased them down the cedar rope, but it broke and he fell to his death. Fox then let the sun free in the sky and gave fire to the people. A face like Snoqualm's is visible on the rocks near the summit.

Cost VS. Value 2007 - Bathroom Remodel

The Bathroom.  One of my favorite rooms of the house.  While the kitchen is the Quarterback of the house.. the one that gets the glory, the bathroom is the offensive lineman.  The unsung hero that gets the job done.  If you are thinking of finally putting in the Urinal , or stadium trough (you know who you are John!) these numbers are for you!  It might just be worth your investment?
Today we'll take a look at the bathrooms section of Remodeling Cost vs. value report 2007.   All of this information and more can be downloaded at http:www.costvalue.com.

Bathroom Remodel - Midrange:
Criteria:  Update an existing 5x7' bathroom.  Replace all fixtures to include 30x60" porcelain-on-steel tub with 4x4" ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.

JOB COST:  $17,706
RESALE VALUE: $18,740
COST RECOUPED:  105.8%

Bathroom Remodel - Upscale:
Criteria:  Expand an existing 35-square-foot bathroom to 100 square feet within existing house footprint.  Relocate all fixtures.  Include 42x42 neo-angle shower with ceramic tile walls with accent strip, recessed shower caddy, body spray fixtures, and frameless glass enclosure.  Include a customized whirlpool tub; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidstat-controlled exhaust fan.  Use all color fixtures.  Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding.  Add general and spot lighting including waterproof shower fixtures.  Cabinetry shall include a custom drawer base and wall cabinets for built-in look.  Extend HVAC system, and include electric in-floor heating and heated towel bars.

JOB COST:  $55,772
RESALE VALUE: $51,747
COST RECOUPED:  92.8%

All of the statistical information was provided by
c 2007 Hanley Wood, LLC.  Reproduced by permission.  Complete city data from the Remodeling 2007 Cost vs. Value Report can be downloaded for free at www.costvsvalue.com

Monday's Inspiration -- Setting Goals

January.....the month that everything starts new.  The month of resolution.  You know those things we want to fix about ourselves.  So what is a resolution?   I think a resolution is just a goal...but a weak goal.

So how do we give our resolutions (goals)  power?

First, we need to identify what we want.  it's a time for introspection.  We need to look at our habits, our lifestyle.  The things we like about ourselves, our families, what we do for work and recreation.  We also need to look at what we don't like.  I like to put my focus on what I already do well and think about how to improve it.

When we set goals, the goals must define exactly what you want to achieve in concise and measurable ways.   What are you passionate about?  This is a good starting point.  Your goals should also be realistic, specific and measurable.  For example, instead of saying, "I want to drink more water", rephrase this as "I want to drink eight glasses of water each day."  This will help instill a good habit that becomes a permanent addition to your daily routine.

Next, break your goal down to manageable bite sized chunks.  Get comfortable with one part of a new habit, then progress to the another chunk.  We've all heard the term "baby steps".  Baby steps work!  You'll get a sense of satisfaction and stay motivated when you achieve your "baby steps"!

Now it's time to "make a date".  Set a deadline for yourself.  Keep your new goal in front of you at all times and work toward your deadline.  Complex goals might have many deadlines or "checking points".

What does Nike say?  "Just do it!"  Don't procrastinate.  Any progress is good progress.  Again take small steps.

Confide your goals to people who care about you.  This will keep you accountable.  Sometimes you'll do what you need to do for someone else before you'll do it for yourself.

And finally, track your progress.  Journaling is a great way to capture your thoughts around your goals and your progress. 

Everyone has the ability to transform themselves and create positive lasting change.   Changing is not always easy.  If your goals are complex, it could take several months to see results.  Easy goals can be achieved in days.  When you see results, you'll feel rewarded. 

Wishing you your best year ever in 2008.