Comments on: 2007 Still looking like a Seller’s Market

By: ARDELL

ARDELL — Wed, 23 May 2007 01:52:52 +0000

You can hire me to meet you there and talk about it and to represent you in the purchase. We can agree on my fee vs. whatever the developer is paying. Otherwise, I can’t target a specific development.

I did have a long back and forth with someone who isn’t my client about the pros and cons of a new construction purchase this morning. But I was careful to point out that it was his thinking that was skewed, and not the developer

By: ARDELL

ARDELL — Wed, 23 May 2007 01:49:07 +0000

Hi Wookie,

I was giving generic info re new construction without naming a development. Once the development is named by someone who comments, I can’t write about it, even if the one named is not the one I was originally talking about.

I can’t give my honest opinion, pros and cons, about anything for sale except to a client of mine. I try to write generic warnings of what to look for and what to pay attention to when making purchase decisions. But I can’t say “here’s what I think of Tyler Creek”.

If you weren’t around for the fireworks, that’s what Redfin just got a $50,000 fine for doing. So I can’t take the bait

By: wookie

wookie — Tue, 22 May 2007 21:53:18 +0000

Ardell,

We are considering buying a house in Tyler Creek. It will be helpful if you can provide details on the location issues that you mentioned in your comments before?

By: Seattle Real Estate Market 2007 YTD | Rain City Guide | A Seattle Real Estate Blog...

Sat, 12 May 2007 18:28:46 +0000

[...] Seattle Real Estate Market 2007 YTD May 12, 2007 Back on March 2nd, when I first posted stats for 2007, there were more buyers than sellers in most market segments. I add the Closed Sales plus the ones In Escrow and find that represents about three times the number currently For Sale. That trend is holding up to $850,000 (see graphs below) which represents 82% of the Eastside Real Estate Market and 94% of mostly non-view property in North Seattle so far this year. [...]

By: ARDELL

ARDELL — Tue, 20 Mar 2007 01:59:23 +0000

Monica,

I’m always a big fan of “the closer to Microsoft the better”. But some have inflated pricing these days, so be very careful to check the comps and condition of subject property against condition of comps. Also…big issue…where situated within the complex. Windows facing 148th should not sell as high as the quieter units in the rear of the complex. Make sure you do an on site evaluation of the comps and subject property.

By: monica

monica — Mon, 19 Mar 2007 23:59:01 +0000

great information…. I”m also an agent in the L.A california area and just bought a condo in s.w seattle… 1 bed for 150,000…. what are your futuer predictions?? what area do you recommend that i buy next???? thanks monica L.A

By: ARDELL

ARDELL — Fri, 09 Mar 2007 00:03:52 +0000

Sandy,

The last time this became an issue, everyone used room sizes instead of square footage. It is just not possible to guarantee square footage and three different people will calculate it differently. It is not an exact science. Room sizes are easier to define with accuracy, than total square footage.

Everyone needs to know that square footage is never exactly accuate ever. One inch off down the entire side of the house creates a moderate variance in total square footage. If someone is building many homes, they are never totally identical as to square footage.

Agents usually quote tax records as “source” and always have a disclaimer that source can be incorrect. We can tell if it is a lot off, but 50 sf off? Not likely something anyone can notice.

I am absolutely sure no buyer would want to pay more if it is 50 sf bigger than stated, so reverse should also be the case.

By: Sandy

Sandy — Thu, 08 Mar 2007 20:13:30 +0000

Honestly i think this is a loop hole in the system (real estate or law) that is being explioted.

By: ARDELL

ARDELL — Thu, 08 Mar 2007 17:45:32 +0000

I think it is called “market forces prevail”. Absolutely correct on that one Sandy. Supply and Demand. If they are having trouble selling, them they will absolutely act differently, than if there is a five person deep waiting list wanting that house.

That is the same in resale. When the market is hot and a buyer wants the seller to make repairs, the seller will sometimes just say no and switch to a buyer willing to buy it “as-is”.

I’m pretty sure if it were the other way around, if they had 2,480 on the plan and it turned out to be 2,530, they could not charge more for it.

By: sandy

sandy — Thu, 08 Mar 2007 16:49:30 +0000

the same house plan has been built for 4 years now, even in the city/county where it was 2530sqft. (same elevation exterior too).
an an explanation was offered that was what was said saying this is the exact same home as always built. does it mean the guys who bought it before us in same city are also getting lower sqft

while i see the right to change almost anything for the builder with no notice at all as part of the documentation – this is not good customer service. i mean put ur self (agent, lawyer, builder in buyers shoes) how would u feel?

In a hot real estate market customer service defintely goes to hell.