Capturing Downtown Ballard on Video

A few months ago, I received an email from someone who was working with Inman News to create neighborhood videos. I remember checking out a video from Inman a long time ago that seemed like one big ad for an agent, so I didn’t expect much from the videos and the idea of following up quickly fell off my radar.

However, I’m here to say that I missed the boat on this one… I wish to make amends right here and now because these neighborhood videos are awesome!

This first neighborhood video I want to present on Rain City Guide is a tour of Ballard narrated by a local musician. While it isn’t Hollywood-production material, the five-minute video gives a fun perspective on some of the endearing features of Ballard.


(If you see a bunch of white space above, it means you need to install Flash… It’s worth the effort.)

Here are links to things seen and/or heard on the video:

If you want to see more video’s from Seattle’s neighborhoods, just keep following Rain City Guide, as I’ll put a similar post together for each of the neighborhoods that have already been featured!

But if you can’t wait and/or you want to see other featured neighborhoods from throughout the country, you can either go directly to the source or watch them via Google Video (My recommendation). And budding filmmakers: Click here and then on “Become a TurnHere Filmmaker” to find out how you can get paid to make a film of your neighborhood.

On a related note, Google Video just keeps getting better and better. If you have some time to kill, check out these videos they have collected from the National Archives.

Finding the "right" house to buy

[photopress:Atticus_1_2.jpg,full,alignright]I was watching the Oscars the other night. There was a brief clip of “To Kill a Mockingbird” where Atticus is telling Scout that you have to step into another man’s shoes/skin and walk around in them a bit, before you can know…(paraphrased). It reminded me of the many people I have helped find the “right” home over the years. I try to remember when I stopped “showing” houses and started “finding” them.

I remember sitting in my office one day noticing all of the agents who were listing homes of people whom they sold the same homes to a short time before, and wondering why my clients were content with the homes I sold to them. My sister is still in the same house I sold to her in 1992. My sister-in-law and brother-in-law are still in the same home I sold to them around the same time. Every once in a while I do an owner search and find that the people are still there, living in that same house I sold to them, many years later.

Finding the “right” house to buy has a whole lot more to do with “where” than “which house”. People buy a “lifestyle”. The absolutely perfect house in the wrong place for you, does not seem to make someone as happy as finding the right house in the right place.

I was meeting a man last night in a dark parking lot to show him a property that is “not for sale”. I met him back in May or June of last year. Since that time I have told him not to buy several properties and last night I took him to “the” property he should buy. It was what is known as a “pocket” listing and involved two other agents and no written agreements to pay any of us. For him it was more about the right property and the right circumstances. The right property for him unfortunately is the kind that gets multiple offers. His demeanor and need to process the info, just doesn’t lend itself to a competitive environment, so I had to find something that wasn’t for sale. No other buyers vying for the same property.

I have three or four buyer clients right now in the same price range, but they all have different profiles. My partner brings me properties for sale and says “How about this one for X & X?” I say no…wrong lifestyle. They need a newer house built in 1995 or 1998 in this neighborhood and that elementary school… He checks with the buyer. They agree with me. He comes back with a condo and says this one is perfect for X! I look at him and wonder why he thinks that, it is obvious to me that X does NOT want to live there. He checks with X and X doesn’t even respond.

The X and X couple needs a house in a newer neighborhood where a large percentage of the neighborhood has younger children. Where there are pavements to walk all over with a stroller and maybe a tot lot. A remodeled home in an older neighborhood with no sidewalks and mostly “empty-nesters” for neighbors, won’t do. I have pinpointed the exact neighborhood and am sending letters to all of the homes that would likely sell in their price range. I target the homes based on year built and assessed value using the tax records.

Mr. X needs a condo in a lively area, not too close to work. He is a workaholic and needs to go “home”. If his “home” is too close to work he will be tempted to drop by the office nights and weekends. He has to look out of his window and see something relaxing. He needs a territorial view or a lake view and not a lot of business and traffic and yet at the same time, he needs to be able to walk out of his front door and window shop or stop by the coffee house and mingle with people.

Ms. X works from home and needs to be close to downtown Kirkland, but also needs enough space not to be “confined” while working from home. She needs to be close to her friends and church and yet her price range and space needs predict that she needs to be just outside of where she would most like to be.

I first take people to property to get into their skin…not to find a property. I look into their eyes and watch their body language like a profiler. I take them to properties I pick that are not alike at all. It’s like the optometrist who keeps putting lenses with slight differences and saying “is this better than that?” “How about this?” Once I find what they like and don’t like, usually after showing them 3-6 properties. I go out and get “that”. Usually it’s not for sale, yet. I watch for it to come on market or I actively seek it out by writing people who own “it”. I don’t tell people they can’t have what they want because it is not for sale, but I do tell them they can’t have it if it doesn’t exist or is not in their price range. Agents have in their brains and via the tax records, a fairly good handle on the “realm of possibilities”. Getting access to the mls does not empower the consumer, it limits them to what is for sale.

Don’t sit at a computer screen looking at property until you have first identified “where” you will be happy. Think more about what makes you happy. I like to walk down a street with lots of houses and look at the architecture and flowers in people’s gardens and say “hey” to the neighbors. Put me in a great house on an acre lot out in the middle of nowhere, and I may love my house, but hate my lifestyle. Conversely, some people hate to walk outside of their home and have someone look over at them and say “hey, neighbor!” They are like, “Oh God, I just want to read my morning paper in peace!”

So spend at least as much time knowing where you will be happy as you do calculating monthly payments and number of bedrooms and “to thine own self be true”. First find your lifestyle match and then your house. You will be much happier in the long run if you do.

Checking Things Off the ToDo List…

I made some changes to the site tonight:

  • Added a Home Search Panel to the sidepanel. You may have to hit “refresh” to get this to show up right!
  • Added a Print Post Option. I hate the idea of people printing out a blog… Blogs are meant for reading on screen where you can follow links and leave comments! However, I hate the idea of people wasting extra pages printing out blog posts even more. For those of you who were going to print stuff out anyway, it’s now a little cleaner and will hopefully use fewer pages!
  • Added a Stat Page [no longer available] which proves beyond the shadow of a doubt that Ardell is the most prolific real estate blogger of 2006 (and we’re only in March!). For someone who only began blogging in January, she’s already authored 49 posts and 205 comments (192 under ARDELL and 13 under Ardell DellaLoggia). WOW!

Speaking of Ardell, I’ve heard from multiple agents that they are too intimidated by Ardell to begin commenting on the site. While Ardell is definitely a force to be reckoned with, I find that fact amusing because I imagine she wouldn’t mind a little more support from the agent community. Not that she needs it, mind you… Just that there is only so many hours in the day for her to keep up with two intelligent lawyers!!!

Still on my ToDo List is to:

  • Clean up the RSS feed buttons. As was recommended in an earlier comment, I’ll probably add a subscribe page and limit the sidepanel to one subscribe button.
  • Add avatars to comments. I am having some minor trouble getting things to look right with this one, but I’ll keep working at it.

Is there anything that is missing from Rain City Guide that you would like to see?

The Impact of Cooperation

Most of you have (or should have) read the recent article by STEPHEN J. DUBNER and STEVEN D. LEVITT (Freakonomics) in the NY Times. As may be expected, there were plenty comments on the Freakonomics Blog. As I was reading the comments, one struck me. It was from a very sincere sounding broker who, in defending the broker’s role in the transaction, said:

As an agent on the buyer side or the seller side, I have a fiduciary responsibility to prosecute the interests and goals of my clients……If you want to succeed in this business, become a fierce advocate for your clients, give them all the data they can handle, use your sales, negotiating, and analysis skills to their advantage.”

I pondered this a bit as it sounded like a legitimate strategy for success. I then recalled an article on Inman the other day about a company called RealtyLegacy. The company promotes a program where it will connect buyers and sellers with agents from other companies and those agents will agree to rebate a portion of their commission to their client after closing. The story was interesting from several angles but it surprised me that one such agent did not want to disclose her name because of fear of reprisal to her and to her clients (i.e. other agents would not show her listings if they knew she was discounting).

I then thought back to the NY Times story and the analogy of the real estate brokerage world to stock brokers and travel agents and the author’s forecast of the impending doom to the industry. The real estate brokerage industry has a major advantage that the stock traders and travel agents did not have. To buy a stock for a client or to purchase an airline ticket, there is no need to cooperate with another stock broker or travel agent. Those brokers deal with the principal to put the deal together. In real estate, cooperation is at the heart of the industry (some (the DOJ?) would say that this cooperation has artificially upheld commission rates and traditional business models).

I then remembered the above quote from the broker. He believes that diligent representation of his buyer will preserve his relevance. What happens, however, when he comes to a home that he knows his buyer client will love and he looks at the SOC (selling office commission) in the MLS and sees 1%. If I understand the theory, do what is best for your client and you will have value. It is without argument that this buyer client will value this “perfect” home over and above the amount of commission that the broker will receive? However, it is commonly understood in the industry that if a seller wants their home shown, they will pay the “going rate.” They are told that if they don’t, other agents will not show it. If this was not an issue, why did the RealtyLegacy agent have to hide her identity? Why was she so scared to let people know that she was discounting? If buyer agents in fact act this way, what does this have to do with “prosecuting the interests and goals of the client.” Why should a buyer get short-changed on seeing available inventory when the seller has refused to pay the standard SOC?

It then hit me like a brick upside the head: A major strength of the real estate brokerage industry is at its core a major weakness.

The Zillow Conspiracy

Zillow seems to inspire one of three questions in people:

  1. How did Zillow do such a good job zestimating the value of my home?
  2. How did Zillow do such a bad job zestimating the value of my home?
  3. Did they really hire people to digitize that many public records?

The answer to these questions:

  1. They hired some darn smart people
  2. Apparently not smart enough
  3. A smell a conspiracy!

To understand how Zillow could possible get their hands on that many government records, it is important to understand that they must have had someone on the inside. I’ve suspected for a while that they had someone on the inside at one of the lesser government agencies, like the Department of Housing and Urban Development, but today I found proof that they have an insider at an even higher level of the government: The Treasury Department.

It seems that they’ve worked some type of advertising deal with the Treasury Department, and I’ve searched the web, but I think I’m going to be the one to break this story.

Zillow is now advertising on the one-dollar bill!

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Talk about prime real estate! Not even Microsoft has that kind of reach!

On a more serious note, if you were the Zillow employee who defaced the dollar bill and then used it to buy a lunch at Planet Java, you are welcome to contact me to reclaim the evidence of illegal activity (no questions asked!) before it falls into the wrong hands.

"Flip This House" is looking for YOU

I received an email today from the casting firm of A&E’s “Flip This House” requesting my assistance in locating persons who have flipped at least ten properties in a year. I know a few people who might be qualified and interested.

I haven’t seen the show. I expect that each week there may be a different host from a different area.

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I doubt that it is a “Seattle Area” only request, so if anyone knows of anyone who has done at least 10 flips in 2005, or 10 a year for a few years, shoot me an email.

Thanks. Have no clue what “tag” to put on this one!

ShackPrices is Filling in the Blank…

The ShackPrices’ blog (run by RCG contributor Galen) just announced some slick new features for their site:

  • Permalinks. Makes it possible to email/link to specific results
  • Address Search. Easier to zoom into a specific property
  • Condo Information. Not just homes anymore…

So what is ShackPrices? ShackPrices is a King County specific Home Price Evaluation site. Operating in true Web2.0 spirit, these guys have taken King County sold home data and mixed it with Google Maps to create a map-based home valuation tool. By focusing on the Seattle area, locals might find that ShackPrices is a more useful tool than the obvious huge white elephant in the room. It is also worth nothing that others have had online home valuation tools for a while (and we recently released our own!), so it is nice to see that Galen takes stuff in perspective:

So is this the future of real estate search? I sincerely doubt it. I believe that online real estate search is a sliver of what it could be today, let alone what it could be tomorrow. We’re in the “glorified book

Closing Today

There are a thousand stories in the Naked City….this is just one of them.

I was working on my computer one day when I saw some emails coming from Realtor.com

I stopped what I was doing and opened the emails. The emails were from clients of mine whose son purchased a condo from me several months ago. The emails had no messages, just property. Vacant lots out on the coast in Washington that were really cheap $25,000 to $90,000.

I called the clients and arranged for an agent on the coast to take them out to look at those lots and others. They returned here having found a fabulous lot that backed to a canal, one house from the ocean, with an easement access to the ocean directly across the street. It already had septic, water and electric hooked up.

The owners were a couple who owned it for many years and enjoyed it and needed to sell it because the wife was dying of cancer. To make a long story short, the woman left her hospital bed and her husband drove her two hours and the listing agent drove two hours and they met at midnight under the bridge to sign the offer. The woman felt a huge weight lifitng knowing that her husband would have this money toward her hospital bills. She died before it closed with that peace of mind.

It is closing today and I received this message from the listing agent “Mr (XXX) says he hopes they find as much happiness there as he and his wife had throughout the years…”

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This area was never on the mls, and so not on the internet, until they joined NWMLS this summer. Had the area not joined the mls, my clients would never have seen the lots on Realtor.com and emailed me. A chain of events started and ends today when it closes.

We are in a business of people. Buyer people and Seller people. We do not sell property, we help people buy and sell property. The people are important. Let’s not forget that.