Archive for the ‘Real Estate’ Category
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Jan
16
Posted by Kathleen Cragun
Most of our New York experience was out of the Hustle & Bustle of the city and was the reason we were there. We came for knowledge, insite and information about real estate and new technology and came away with much to digest.
Did you know all taxi’s in Manhattan have to be yellow? (Oops, got off track there)!
Our meetings were in Manhattan; one pundit quipped that Manhattan really isn’t a part of the U.S.! This seems to be true as Manhattan real estate appears to be booming. It is an island unto itself and one that many people from all over the world want to have a home in. Just bring lots and lots of money! Out in the bordering communities (the borrows) the housing, such as on Long Island, things aren’t quite as good. Forclosures loom and prices have declined some but New York isn’t as gloomy as many other parts of the nation. SEATTLE is one of the areas that hasn’t been affected as much and if fact, as our news papers report, prices in Seattle are still appreciating. Nationally the areas that are appreciating are those with technology in common. That’s us.
Tidbits of info: Not in any particular order and some with opposing views
- People have to have somewhere to live, many will still buy homes
- RE is “downside sticky” most people stay put where they live. Houses are tangible
- 2 million people face forclosure. Most are families with children, not greedy investors
- The solution to the forclosure mess is:…………… see upcoming post
- Greedy investors caused the boom
- Who’s buying? Those who have to, marriage, divorce, having children and need space
- It is a election year, many are in a wait and see mode
- U.S. weak dollar and declining prices in housing will attract foreign buyers
- 0 down is dead
- Large down payments will stabilize the market
- People will migrate to other areas from depressed areas
- Most second home buyers are not flippers, buy home for retirement, kids in college, etc.
- Social Media on the internet are changing the world of real estate
- Real Estate advertising is swiftly changing from print to online, if fact already has
- Flip video camera is not expensive and does a great job
- Real Estate market will continue to go up and to go down
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Nov
27
Posted by Larry Cragun
We are entering the typical slowest market of the season. The mortgage industry has often dictated people take their vacations in December. People’s attention moves to the Holiday Season. Homes are being decorated, family is coming, and sellers often decide to not go through the disruption of having their home on the market.
If the question, should you purchase now, catches your attention because it applies to you, I have some things for you to think about.
photo: taken from Talus, an Issaquah Development
First some questions to you. Why now? Have you been waiting for a reason? Are you moving in from out of state? Is your lease coming to an end? Are you moving up?
Now I offer some general answers to some of you:
Interest rates are sliding down. Normal mortgage markets would have seen rates come thundering down. Where par on a 30 year fixed rate just slid to be under 6% times past would have seen it down to 5%. Also typical is the fact that this is the season rates usually start to rise.
Lower rates have a countering effect to higher prices. If you have been waiting for prices to drop, some local prices have - you may have the double benefit of rates dropping at this time.
I would suggest you start tracking rates and homes at the same time. Have them converted to monthly payments to compare. Do this if you are serious.
The first of the year will bring some interesting and important information. We will find out how many people have waiting to buy and sell. We have already measured the situation with some of our clients and suggested they wait until then. The problem with waiting is the unknown. If rates continue to fall and the right home comes up at the right price our buyers may want to change their mind and strike.
Will there be more buyers in January than now? I think so.
Will the rates be lower in January? I don’t think so.
Will there be more homes on the market in January? I am sure of it.
Will homes be priced lower in January? In Issaquah I doubt much if any lower.
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Nov
19
Posted by Larry Cragun
Do you feel like you might be biting off more than you can chew?
Are you afraid you will take the big step and someone will bite your head off?
We say not to worry, we keep our eye on things…..
We know real estate, We know how to stage your home to get top dollar, We know how to market your home on the internet, we know financing.
Click on the MLS search options in the blue bar and start planning. For buyers it is a treasure hunt, for sellers a listing agent that will market according to your needs.
The characters in this script willingly posed for us. Thanks to Ashley Kyser for her professional photography skills. You can see these great actors at The Cougar Mountain Zoo Wednesday through Sunday. We love this place and know you will too.
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Aug
15
Posted by Larry Cragun
Anyone who likes to look at homes, especially homes they can’t afford to buy, this week is your last chance to see this years Street of Dreams. I went with 2 of my interior design colleagues from my past life. We love going through and critiquing everybody elses hard work, since we use to do the Street of Dreams! I don’t get many chances to be catty! Of course there were flaws but always much good. The settings were particularly nice and woodsy. There were not the huge long walks like last year where you could run a marathon on some of the driveways. Also the prices were down from last years highest of 5.5 million to just under 2 million.
We were told to look for the $84,000 Fountain. Is this it?……… NO! We did finally find it. It was very unusual, but just as I was ready to take a picture of it my camera had the gaul to say YOUR BATTERY IS EXHAUSTED!
Street of Dreams homes, though expensive, are generally a very good price for what you get. Many new products are introduced, sometimes at no extra cost because the vendors want to get it out and noticed by the public so they often provide them to the builder at minimal cost. Also they are always innovative and usually one of a kind, although they might be duplicated by the builder later (at a higher cost).
Most people attending are not planning on buying a home there but are looking for ideas and products or perhaps looking for a builder to build their dream home. This is a great place to do that.
The best house achitecturally and the most profession interior design job in my opinion was The Urban Lodge. The builder was Grey Lundberg of CMI Homes, Inc. Curtis Gelotte was the architect. Interior Design was by Schoenfeld Interiors. You can tell when the designers work with the house and the builder closely. Results are not pleasing or professional when they just plop the furniture in after all else is done.
I was perturbed by the fact that many of the builders and/or designers used too many different wood finishes in the same house or even the same room. One kitchen had so many it looked like a kitchen showroom trying show you all finishes. Some multiple finishes can work, but it takes great discernment and skill to pull it off well. It seems to be a fad right now, short lived I hope.
The Street of Dreams is open from 10 am to 9 pm daily. Quinn’s Crossing. Last day is August 19th, for more info click on www.seattlestreetofdreams.com
Posted by Kathleen
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Aug
07
Posted by Larry Cragun
Larry and Kathleen just returned from the Real Estate Connect in San Francisco. It was two and one half days jammed packed with information and ideas. At times conflicting ideas. Real Estate Connect is a place where the real world of traditional real estate meets head on with new ideas, new technology, new marketing, innovations and discussion of where real estate is going from the here and now into the future. Currant trends and troubles are addressed, such as the decline in the housing market, the subprime mortgage crisis and of course what all these things mean to agents and to our clients.
Just a few of the companies represented at the conference by their top excutives were, HomeGain, Chase International, Prudential, Coldwell Banker, John L.Scott, Homes.com, Imprev, Oodle, Trulia, Zillow, House Values, Active Rain, epraisal.com, Point 2 Technologies, Google, National Assoc. of Realtors, IAC, Zip Realty, OpenMLS, Move,Inc, Mapquest, Bank of America, Microsoft, craigslist.org, Yahoo, Redfin, etc.etc.
One thing is clear, things are changing. More and more the driving force in many things is the consumer or I should say YOU, the home buyers. The ease with which the real estate world is at your fingertips is paramount. Agents who know their community, how to embrace new technology to help you and understand what is happening in the real world of real estate will be best at serving their clients. At the conference there was an entire day of sessions devoted to real estate bloggers. This makes our heart go pitter patter, as you may have noticed we are bloggers! We have been developing a network of blogs about towns and cities across the nation all connected to each other and to the consumer in each area. Each town will have its own sponser and voice. We blog with the purpose that was espoused at Inman New’s Real Estate Connect, to educate our readers and clients about real estate and mortgage ins and outs. providing them with a better experience when they are shopping for a home. Info about the community they are thinking about living in is a major theme. All of our blogs are 2.0, allowing you to comment or ask questions, which we will answer. Please Ask! Blogs were often touted as the best method of marketing in the future.
Even Larry’s national blog www.RealEstateUndressed.com is written for the consumer not other real estate people. There you will find helpful information on real estate issues and mortgages that will help you navigate your home purchase with more knowledge,
The Palace Hotel, as usual was where the conference was held, It is a old, beautiful hotel. Below are some picture taken at the event. 1700 people attended. It was one busy place. We got to meet people we had met only via the internet. Opinions and facts from all over the US were discussed in panel discussions. Most were considered top in their field of expertise.
Below: Rudy Bachraty and Joseph Ferrera present Brad Inman with his own personal a blog log!
Below: Craig Newmark of craigslist.org receives an award for “Inovator of the Year” from Brad Inman
We believe technology not only empowers agents like us, but empowers you the consumer. Let us know if you have ideas on how we can make this local blog more meaningful to you. It is a labor of love for us. We also believe that serious blog research is a habit good shoppers will develop. For example, many enjoy hunting for homes on line, but we believe the smart shopper will also research the mortgage world. They can do that on many sites, inlcuding Larry’s RealEstateUndressed.com.
Posted by Larry and Kathleen Cragun
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Jul
21
Posted by Larry Cragun
A New Home for a Nice Family and A Fun Experience for us and we hope for Melissa and Kimball
How do you do your home research? On line most likely. How ready to purchase are you when you start the hunt? Ready? Still learning, getting a handle on reality, if you are like most. What happens when you narrow your hunt down to a few homes; two neighboring homes are for sale, the first two you look at, and one of them is awesome. To top it all off, you are a first time home buyer.
Thus goes the story of Kimball and Melissa. We proudly show you photos of their first home. It closed this week and we are all pretty happy.
Back to how ready will you be? The seller was home as we toured this nice place and informed us they knew an offer was coming. As much as you research on line, there is nothing like actually being there. Having seen every home on the market, in this market, I knew it was the best home for the money they would find. But they had to experience more, you would too. By the time we did our tour the home was sold.
We hunted for another three weeks, always comparing the new opportunity with the lost one.
We have an awesome neighborhood search tool you can use, and Kimball and Melissa had been faithfully using for months of research. One of its features is that it emails all changes regarding listings in neighborhoods. I got an excited call from Melissa, the home was on the market again! I received my email notice as we were speaking.
Now was the time to act. We all dropped everything and went into high gear. I called the listing agent to confirm, yep the previous deal, for higher than asking price, had died. What couldn’t have been all at once, seemed to be. We went into an assertive mode to make sure we didn’t get aced out. We didn’t.
These pictures are on line with permission. They can have family and friends take a look at their home.
The real estate business can be an exciting package of joy. We hope you enjoy your first home, thanks for sharing the experience.
Posted by Larry and Kathleen Cragun
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May
14
Posted by beta
Each week there is an official “Carnival Of Real Estate”. Articles are submitted and winners are selected. This week an article Larry Cragun (of IssaquahUndressed) wrote on RealEstateUndressed.com was selected as the winner. We think the content is important, as well as the comments.
Here is the link to the announcement. It is posted on RSS Pieces. There were 5 other great runners up, enjoy and Click Here
For your read we publish the article: “He Called It The Skyhook Theory. How about a Skyhook Theory For Buyers?”
This inspiring photo has caused me to think about ethics.
It was in an advanced business college course. Dean Sealey taught it. He loved the Skyhook Theory. It espoused that everyone needs a skyhook. Something greater than your daily tasks to hang onto. The result made you a better employee, business person, or citizen.The Dean claimed no religious beliefs. I think the reason the theory stayed in my mind was that I thought it was interesting. I thought this might be his religion.
Today I had a conversation with a great agent about selling real estate. This agent friend clearly thinks of duty first, money last. It causes me to want to stay in the ranks of those who serve first.
Where is the skyhook in selling you real estate? Where is the greater good? To me it is obvious. The skyhook is in providing you the buyer the most professional service possible. It is in caring about your needs over the money. It is in making sure that turbulance is dealt with to minimize harm to your purchase.
WIth this thought I ask you to take a yes or no quiz.
Can a person sitting in an office, never leaving that office to sell you a home provide you the following: If not why is the person trying to sell to you? Does this person have a skyhook mentality? Should you do business with this person?
The quiz:
Can a person sitting in an office, never leaving that office to sell you a home provide you the following:
Can that person shield you from the seller or sellers agent, to hide your sheer joy, or even masked satisfaction that you have found the right home? Should the seller or his agent be able to have read you before you are through negotiating?
Has that person physically looked at numerous homes in your market, having an instant feeling for value?
Is this person working on commission, where it is a business rather than a job?
Is this person skilled and experienced enough to make a living on referrals, or is this person in this job because they failed the traditional commission way?
Has this person been around you enough to sense important facts you yourself may not see?
Does this person make or take important calls on your transaction after hours and on weekends?
Will this person have a high level of knowledge about lenders, inspectors, closers, title companies, and appraisers: to be a valuable resource for you.
Is this person honest in their business dealings by baiting you with a discount in return for your business, if the discount aborts or dilutes agency responsibilites?
Has that in house agent been honest with the listing agent, or does the agent consider ethics with a wishing washey measuring stick?. The wet noodle method.
Is money first and skyhook second in some business models?
How about you?
A former Seattle Seahawk player took weeks of my wifes time one summer. She was an interior designer for the finest furniture store in Seattle. He took her plans and specs and bought the entire furniture package on line. He told her it was ok by him because people did it all the time.
Professional interior design, the kind Kathleen can do, cannot be bought on line. In like manner professional real estate cannot properly be sold that way either. Not by those with a SKyhook.
For sure the web is a wonderful tool. You should use it. I use it. But the reason full service survives the day is that full service is needed. Even the model I am condemning in this post needs it.
Those that do as the Seahawk did won’t be around much longer than he was a Seattle Seahawk.
Here is my vote for the Skyhook Theory. Live it and I vote for you too.
Larry Cragun
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May
10
Posted by Larry Cragun
Vista Park in Issaquah Highlands is one of the new things going on in Issaquah. Located in Issaquah Highlands just across the street from Ravena (last post), it too is benefiting from its close proximity to the expanding High Street Retail area. There are single family homes that are lining the west side of 11th Ave NE. further back in the developement there are townhomes and condos. Some are income qualifying, and to those who qualify will start in the mid $200. Most are $400 - 500. There will be a park in the center accessible from Jacaranda. I enjoy driving (walking) around and watching things take shape. There is an information trailer but they were far too busy to give me much time. The agent there didnt even know where Ravena was (across the street??). Eleven of the 11th Ave homes being built are all ready sold and begin in the high $500. On the far west side of Vista Park there are homes with area and mountain views that will be built, some with basements, in the $600-$700 K range.
The homes on the east side of 11th Ave in Vista Park are approx 2000-2300 sq ft are high $500K to mid $600K
Posted by Kathleen
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Apr
11
Posted by Larry Cragun
Looking for a site to build a special home? This property is in a transition zone. You could build a magificent house nestle in the woods or it is right next door to Cantergrove and should you desire something more formal, that is a possiblity too.
House Across the Street
House just to the South
Looking Toward Cantergrove
Check out the weblog especially for information on this property www.25045oldblacknugget.com
May 9th, 2007 at 8:08 pm eNice post. kind of deep. I have a strong opinion on this subject and would suggest that those agents who do care more about commission checks more than their clients should get out of the business now before they hurt someone.
May 9th, 2007 at 10:55 pm eBravo
May 10th, 2007 at 1:43 pm eThe pendulum always swings. Today, it’s leaning toward saving money on a real estate transaction. The actual cost won’t be known for a few years. It likely will be higher than the short term savings.
May 11th, 2007 at 4:47 pm eExcellent, we need more listening, understanding, compassionate, empathetic, motivated, and dedicated Realtors. I’ve experienced too many transactions where all the other side wanted was a check.
May 12th, 2007 at 7:54 am eIt took me a few days, but I finally wrote about the Skyhook! Great article- it’s in my Top 10 favorites!
May 12th, 2007 at 9:17 am eThanks team. lar
May 14th, 2007 at 9:04 am e[] Larry Cragan: He Called It The Skyhook Theory. How About Skyhook Theory For Buyers? []
May 14th, 2007 at 9:22 am eGreat post Lar! Congratulations on winning this week’s Carnival.