Rain City Guide

Sunday Night Stats on Monday Morning

Some of our developments actually have “detached” townhomes, which are effectively single family homes on small lots. Most are comprised of small clusters, duplex and triplex buildings. And the way these are built, your adjacent neighbor could really let his place go and other than the roof (which replacement is called for in the CCR’s) it won’t physically damage your unit.

As for covenants, there are some on the shortplat calling for — as Kary noted — roof/painting. We overlay that with an eight page document that our attorney writes for each project which hopefully covers more of the eventualities. Sort of like the CCR’s for a planned development like Mill Creek with some design covenants and “no blue tarp” rules.

I own a condo and I really dislike being part of an association — too many cooks in the kitchen. I want to spend money to maintain and upgrade, and most owners want to just do the bare minimum. Like those neighborhoods of neglected ramblers. I’d rather take care of my own spaces like we can do with the zero lotlines.

Free Flushes?

Yes, the bronze looking valve in the upper left is a shutoff, which diverts flow from the system and into the main line. Ardell can turn it every six weeks if she doesn’t want to dye her toilets black.

As for cost, I’m estimating. The unit itself is about $2,000 (varies depending on size), and there was maybe an additional $2500 in plumbing upticks and project management costs. If we did 10 in a row in a given project I’m sure the unit and install would be closer to $3,000 — once we got the hang of it.

I don’t think this is something that could be easily jury-rigged. The city really wanted to see something designed for this purpose, and the manufacturer helped a bit in seeing it through the permitting process. There are backflow valves (to keep the greywater out of the domestic supply) and other bells and whistles too.

Free Flushes?

Veggie — would be hard to make it work in a retrofit as you have to plumb both drain lines (from shower) and supply lines (to toilet) to do it. But I’m sure where there’s a will, there’s a way. Our vendor is: http://www.bracsystems.com/home.html

Yang — There is a filter which needs to be maintained, depending on use, about quarterly. Other than that, there should be no maintenance. One other issue is that if you lose power, the pump won’t work, in which case you’ll have to manually switch your flush supply over to the clean domestic water source.

Michael — this from the vendor’s website (not from me): “…can help you save 35% to 40% on your annual water bill, and while saving money, you will also help save the environment and provide a better future for our children and their children to come.”

I Dig Dueling Digs

Zillow gets all of its revenue from advertising…when you’re playing DD, you’re also being exposed to targeted advertising (e.g. when I was looking at those backyards, John Deere was showing me its lawnmower and tractor selection). More page views = more ad inventory to sell.
And anything that makes users engage and use the site helps to drive traffic. Click away!

3 Steps to Understanding Real Estate Commissions

Patent Guy,

I like your formula, or at least the concept — make the agent vested in those last, hard-to-get incremental price gains. I think that’s one alternative to the current system.

As for me, I’d sign the hypothetical deal as presented. It’s a little grating to see any agent get that kind of a pay day for such little time invested. But I’m netting out well more than I would selling it conventionally and paying some commission to other agents at my $500k value. Better than even selling it FSBO, as this agent will do all the work getting the buyer closed without my babysitting him and I still net my number.

I’ve always found negotiating with the other principal, rather than his agent, nets a more productive result. If the talks stall, and the agent chooses to kick in to preserve the deal and what’s left of his fee, so be it; but he’s usually a lot happier if it’s his idea.

Used Car Salesmen, Trial Lawyers and Real Estate Agents

Well you’re a regular D.B. Cooper, aren’t you?

It’s an important topic and it probably deserves its own post. I’ll look forward to reading more of what you have to say on the issue.

re/your response to Doug’s comment, and for my clarification, where in the Sherman Act or license law does it say we can’t even discuss commissions in a forum like this? I know we can’t collude to fix pricing (e.g. “our fee is set at X”), but it seems like a general or even specific dialogue on the topic doesn’t create any antitrust issues.

Used Car Salesmen, Trial Lawyers and Real Estate Agents

Ardell,

There are lots of options and like every RE deal, probably not one size fits all. Your logic is reasonable, of course — everyone makes a “fair” wage in the process.

Defining fair is what is difficult…so often the “easy” commission subsidizes all of those deals where there the fee is “hard” to earn, or not earned at all ($0 per hour is sometimes our rate, as we all know). That’s not fair to the “easy” client and so on.

Anyway, we’ve heard much of this before. I think as buyers and sellers get more educated, and agents get similarly enlightened, maybe we get closer to a better bargain for all parties.

Used Car Salesmen, Trial Lawyers and Real Estate Agents

What do you have your agents at Brio do? Do you dictate some guidelines or let them decide for themselves what works best?

Can the flat fee equal > 6% on a lower end deal, or a complicated transaction (e.g. $130,000 Kent condo, or a raw land sale)?

Used Car Salesmen, Trial Lawyers and Real Estate Agents

Greg, I like this type of market too, it doesn’t favor either side quite so much — at least in Seattle. Outlying areas seem to be more of a buyer’s market. Really, the only fun thing about the superheated market of ‘99-2005 was that all of the people we sold houses to between ‘89 and ‘99 become equity rich (or cash rich if they refinanced their equity out. Or toy rich if they spent those refinance proceeds on consumer stuff.).

Affluent Renter, why are you bitter? Your posts don’t seem vitriolic.

As for finding the best agents available, it’s been interesting to see some local builders fire their “dirt brokers” to whom they have traditionally been beholden for listbacks (listings on the finished spec homes), in favor of more traditional marketing type agents whom they perceive to be better equipped to move their product. I haven’t seen that “breach” of loyalty really ever, but it’s totally understandable. And in some cases, the builder’s bankers are “encouraging” the change if the listings aren’t moving.

Used Car Salesmen, Trial Lawyers and Real Estate Agents

b – you make a good point about an “hourly charge system” and I think the industry is starting to create more types of fee-for-service options. I know our company has done hourly fee consulting for years as an alternative to the pure commission model. But the public still seems to prefer having an agent with “skin in the game.” We don’t get paid until we perform, and then we get paid well.

Or maybe the great agents should do a lower end, first time homeowner deal every now and then — like a top attorney might do a pro bono case. I think it would help ensure that the entry tier of buyers have a good experience with their process.

Or maybe the market can just self-select the bad agents out of business. Agent ratings and things like that which we’re seeing more of online will help this along.