Tag Archives: Homes

Selling houses is a flashback to dating on Match.com

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[photopress:heart.jpg,thumb,alignright]Yes, that’s right, I too have used Match.com in the past and it’s actually how my partner, Michael, and I met. This weekend I was reminded of the dating experience online as I perused houses in the Greenlake area with some clients. First, we looked at houses in a price range of over $1 Million. The house they’ve written an offer on is gorgeous but the photos of it were horrible. It was exactly like how Michael and I met because he had a horrible photo – so I almost didn’t meet him – and it ended up that when we really did meet it was love at first sight. It was the same way with this couple, I almost didn’t show them the house because I was afraid it was going to be lacking in the aesthetics department based on the lame exterior photos – there were none of the interior. Thank goodness I took a chance and used it as a comparative for another expensive home and they ended up falling in love.

[photopress:IMG_1075.JPG,thumb,alignleft][photopress:master_bedroom.jpg,thumb,alignright]As I’ve been in the real estate biz only a few years I imagined that all agents who work with higher priced properties might actually take the time to provide exceptional skills when it comes to marketing a home. Well, apparently this isn’t the case. Do sellers just not think to ask to see what their house will look like online? The post that came in a few days ago about putting in good photos on real estate listings really strikes a chord with me. Which photo would you rather have for your home? The one that limits the scope of the room to be seen and is kind of dark and depressing? Or go for the warm, inviting photo that gives some sense of the actual space?

I’d post the photos of this house here but since we’re under negotiation right now, I can’t. Let’s just say my client’s digital photo did a lot better than the one the agent took. I have to say that, like Michael, I’m glad someone put in a bad photo this time because otherwise a love match (for me and then my clients) wouldn’t have been made.

The Value of High Quality Photos for Real Estate Listings

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In previous writings for Rain City Guide on the subject of real estate photography, I’ve emphasized more of a ‘how to’ or ‘how to improve’ approach for Realtor’s who photograph their own listings. I want to shift my emphasis toward raising awareness regarding the value of high quality photography for listings and actually learning to recognize the difference between a bad photographic presentation of a listing and a really good one. Or to put it another way, acknowledging a poor photo presentation when it is and hopefully doing something about it. As a photographer who works almost exclusively with Realtors, I am continuously mystified by the disregard by so many Realtors locally and nationwide who seem to be clueless regarding the photos used to market their listing. To simply purchase a ‘point and shoot’ digital camera and walk around your seller’s home snapping away and expecting a satisfactory result is simply not going to cut it. In most cases there is more to it than that and unless you consider photography a hobby and worth time invested in the necessary skill development, you might be much better off hiring a professional photographer to shoot your listing. Many of the best Realtors do use professional photographers and they’re not fools.

This is a comment from my previous article by a St. Louis Realtor that deserves a more prominent view.

First time poster here: Glad to see some recognition of this problem! The most important thing an agent can do for their sellers today is to get lots of superior images up on the web. Here in St. Louis I am continually astounded at the plethora of dark, awful images, and “what were they thinking” photos of toilets, ceiling fans, etc, or NO PHOTOS at all! How do these [realtors] even get listings?

For most of my listings, I take a lot of my own photos, as I have a background in photography and image correction, so I have hi-res images for color flyers, but I ALSO have a great local photographer who comes in and shoots a batch of wonderful web-ready wideangle shots and virtual tours…

It’s worth the investment (typical agent–“you mean you actually PAY someone to shoot your listings? That costs MONEY!”) My business would be a lot less successful without quality photos.

And this is taken from a follow up email from Shannon. “It would help the profession if we all did better than this, although I’m happy many of my local competitors are still so bad at it! ”

This is really a great article by Norm Fisher, a Saskatoon realtor, with a virtual tour of some of the photos that were taken from the Saskatoon mls. “The Unbelievably Bad Real Estate Photography Hall of Fame”. Click on the links in the article to be taken to the virtual tour page. Norm’s humorous audio narration of the tour are really worth a visit.

A typical comment from a friend who have done an internet search for a home makes comments like, “I sure see a lot of dark, out of focus, awful photos’. Are they hiding something they don’t want me to see?”

I am getting calls from Realtors with listings from low end houses and small condos to spacious multi-million dollar homes. One might think that even a very basic home that is in decent condition deserves to be marketed well. If I’m the seller of a modest home, the sale of my home and the potential price is certainly important to me. I’d like to know that my Realtor is doing a professional job of marketing my home and taking care of the details. Lousy shots do not inspire confidence in the agent and the points a Realtor might earn by producing a good photographic presentation, or in many cases, simply hiring a professional photographer, are going to make it more likely that I’m going to be a happy customer. Happy customers equal referrals. And where are Realtors without referrals?

I’d like to conclude with one of my favorite photos of 2006, taken from a listing near Greenlake. This is one of the most ‘kid friendly, family friendly’ homes I’ve ever seen and it was a delight to see and photograph this whimsical, artsy abode. Doesn’t everyone wish they had swing and a chalkboard wall in their living room when they were kids?

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Yahoo Responds to Our Questions!

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Based on my request for questions a few days ago, I put together a slew of questions for Yahoo to answer about their new real estate site. I must say that I was a little bit disappointed in the number of times they state “we can’t comment on future releases or upgrades”, but otherwise, I think there are some nuggets of gold in their answers. (Note that I also added a few questions in the beginning to get them talking about their service before I hit them with the agent-specific stuff. 🙂 )

1) What are the three best features of the new site?

1. Integration with Yahoo! Local & Maps:

Yahoo! Real Estate has added maps with satellite imagery so house hunters can easily see where homes for sale or rentals are located and their proximity to roads and other landmarks. In addition, integration with Yahoo! Local allows users to also see “inside information

ASBESTOS – Buyer Beware!!

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[photopress:inspectors.jpg,thumb,alignright]I am just beside myself on the topic of home inspectors and asbestos. I don’t care how many inspectors want to tell me why inspectors aren’t “obligated” to call asbestos in the inspection, I will still keep saying: “You have GOT to be KIDDING me!!

I’ve seen more asbestos in homes in the Seattle area than in my entire career to date around the Country.

“Well Ardell, I know we both “think” that’s asbestos were looking at there, but we really can’t say it’s asbestos unless we send it out to a lab and have it tested. So we just have this disclaimer in our contract saying we are not responsible for calling asbestos in the inspection…and that is sufficient for US” US being the home inspectors!!

Yesterday I literally took a razor tool from the inspector and cut open some paneling held together by duct tape in a basement and forced an inspector to look behind it before he wrote “inaccessible area” on the report! I said if you don’t lend me something to do this with, I’m going to use my bare hands!

How come I can get 10 average Joe’s to stand around the asbestos wrapped pipes, who will all say “Yep, dats asbestis alright”, but I can’t get one inspector to note asbestos in a home inspection report?

Oh, and here’s the agent’s lovely comment (I represent the seller and she represents the buyer) “Not my problem. The buyer chose their inspector and if the inspector doesn’t tell him what he needs to know…that’s not my problem, is it?”

In PA inspectors included “testing for radon” by setting canisters in the house and sending them to the lab. They couldn’t see radon or taste it or smell it, but they didn’t put a disclaimer in their contract saying “Duh, Don’t Know”.

Here’s a clue, Risk Reduction equals every buyer KNOWING WHAT the heck they are buying!!, not 25 disclaimer and disclosure forms covering everyone’s butts in the industry! And they have the nerve to tell me that they don’t want me at the inspection because I make them look bad…Oh WELL!!

And if you stick that pointy metal thing and chunk away at the mortar between the bricks of my seller’s house one more time in some silly act of macho bravado, I’m going to take it out of your and and stick it where you don’t want it stuck.

Some days I want to be a waitress…

To Stephane, this entire post should be in bold AND all caps! I am heeding your advice. But if you tell me to stop using !!exclamation points!!, we’ll have to agree to disagree 🙂

How to List a Homicide-challenged Home?

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Between Galen scaring us with stories of AOL mischief, and both the WSJ and USA Today treating us to stories of crime-infested houses (you can’t just “repaint” over memories), I’m thinking there is something fishy in the air and I probably shouldn’t be writing any blog posts today.

However, I can’t help but wonder: What factors do you use in choosing your client when they are dead?

From the WSJ:

The red-brick mansion that just went up for sale in Greenwich, Conn., has about everything a buyer could want. Set on 2.1 lush acres on tree-lined Dairy Road, it has four bedrooms, four bathrooms, two fireplaces and a pool. Its $5.2 million asking price is, by Greenwich standards, appealing.

The home has another distinctive feature. The basement is where real-estate developer Andrew Kissel — who had been renting the home for $15,000 per month — was found bound, gagged and stabbed to death in April. “To say the broker will need all the luck he can get finding a buyer is an understatement,” says Greenwich broker Chris Fountain, who isn’t connected with the property’s sale.

From USA Today (via Zilow):

Almost 10 years after the body of 6-year-old JonBenét Ramsey was found in the basement of her Boulder, Colo., home, the Tudor-style house at 749 15th St. is on the market again.

“It’s stigmatized. It’s always been stigmatized,” says Joel Ripmaster, president of Colorado Landmark Realtors. Ripmaster has represented the last four owners of the property, all who purchased or sold the house at below-market value since JonBenét’s slaying in 1996.

Note: I went ahead and published this article today because it was brought to my attention that RCG does not do well in “real estate murder”-related search queries 😉

What makes a house a “tear down”

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[photopress:tear_down.jpg,thumb,alignright] Here in Kirkland, a lot of people complain that the builders are tearing down homes and putting up “McMansions” in their place.

I can walk up and down the streets of Kirkland and “label” each and every house I pass. “Remodel project”, “tear down”, “fixer”, “builder’s dream come true”, will sell “as is”, etc… The number one reason a house becomes a tear down is due to years and years of deferred maintenance. Often these homes are owned by people who inherited them or who purchased them many, many years ago when they were dirt cheap. The increase in taxes over the years suck up any money the owners might have had to make improvements. They have just enough money to get by and the moss overtakes the roof, the wood rot overtakes the fascia boards and siding, the trees get bigger and bigger and crack the foundation, birds make nests in the rotted fascia boards. It’s like a used car that finds its way to the scrap heap, once the cost to repair exceeds the book value.

“Book Value” of a house equals the value of the lot. The value of the lot is based on it’s “highest and best use” and based on its “potential”. If the lot would have a view IF it were a two story house, than the highest and best use of that lot is to put a two story house on it. If that gives the lot a value of $650,000, then that is the value of the dirt. People have a tendency to value a property by what is on the lot and say, “Oh I wouldn’t pay more than $350,0000″ for that house!”. If the lot is worth $650,000, then the house can’t sell for $350,000, no matter how awful it is.

Take the house in the photo above. Would you spend $650,000 to LIVE IN IT? If you would pay $125,000 to live in it, and a builder will pay $650,000 to tear it down…well then I guess everyone has to agree that it is a “tear down”. But they don’t all agree that it is a tear down. People never all agree on anything, do they?

They don’t agree because they like having a little tiny house next to them that doesn’t block their view. They don’t agree because they don’t want the noise of the builders putting up a new home next door from morning until night, day after day, so they can never take a nap in the afternoon again until the new home is finished.

They might all agree that it should be torn down, but they want it to become a new park or playground…as long as no one every comes to play in it and make noise 🙂 They never ALL agree that it should be torn down and become a “McMansion”, especially if they live in the cute little bungalow next door.

Back to Basics

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[photopress:BubbleBurst.jpg,thumb,alignright]Yes, you can prevent the bubble from bursting. Yes, you can prevent home prices from tumbling. The market takes a hit when sellers refuse to see the handwriting on the wall, and are too arrogant and complacent to compensate for market weaknesses.

The Seattle area is almost entirely unigue in its ability to sustain home values. But gone are the days when you can ignore the homes’ weaknesses. Gone are the days when you can put anything on market, in any crappy condition, and have people pouncing on it, regardless of look and smell and overall condition.

You can still get a better price than the comps. But you have to pay very close attention to showing your “product” in its best possible light. You can’t waste your Grand Opening by saying, I’ll lower the price IF it doesn’t sell. You can’t say “I’ll make it look better IF someone doesn’t buy it”. “You never get a second chance to make a first impression, was never truer than it is right now.”

Do not let anyone in your house until it is absolutely READY! Do not hit that button that sends you LIVE into the MLS, while you are still getting the house ready for market. Don’t push your price over the comps, unless you know you are at least as good or better than those comps.

The market tumbles when people are lazy and greedy. When they want to price it higher than any property that has ever sold before, and want to do nothing to make it look its best.

This is one of those “Forewarned is Forearmed” messages, because I am seeing things sitting on market because sellers are digging in their heels and saying I want more money and I want to do nothing to get that more money. Nothing will send the market tumbling faster that a lot of signs out there on stale listing.

If you have had your property on market for more than 45 days and it is not sold…wake up and smell the coffee and make some changes, before the volume of properties not selling sends the market into a tumble. Be reasonable, and make changes as needed. If the market tells you “We’re not buying it” in 30 to 45 days…do something about it. Don’t say “I’m not in a hurry to sell”. You don’t have to be “in a hurry” to notice that no one is making an offer, because your house is not in tip top shape, and so won’t sell at this price.

Don’t just lower the price until it sells. Take it off market, get it looking its best, and then bring it back. When you don’t make your house look its best, you drive down prices, and that hurts your neighbors. Be a good neighbor and sell your house at top dollar by doing anything and everything you can to make it show in its best light.

The “HOME” Stretch

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[photopress:home_stretch.jpg,thumb,alignright]The final days preceding the actual closing date are often the most confusing part of the home buying process. 9 out of 10 buyers and sellers think that something actually happens that involves them, on the closing date shown in their Purchase and Sale Agreement. I am often asked by clients “Should I take off work the day of closing?”

I can see no reason why the buyer should take off the day of closing, as most times you would have nothing to do to effect the closing, and you don’t normally get the keys to your new house until pretty close to the end, or after the end, of business that day.

There are generally two days that the buyer needs to take time from work during the real estate transaction. The first is in Phase 1, the home inspection. Yes, you can do it on Saturday and sometimes in the evening, but there are only 52 Saturdays in a year and getting the best inspector is worth taking time off work. Sometimes the one who isn’t already booked for this coming Saturday, may be the one with no appointments at all. So I would say you should plan to take time off to attend the inspection the first week after you have an accepted offer.

Now for “the HOME stretch”. You need to take time off from work (in most cases) to sign your loan documents and closing papers. This usually happens no later than the day BEFORE closing. It usually takes an hour. Sometimes up to two hours if you have a lot of questions. The frustratring part is you can’t plan ahead very well. Escrow companies will not schedule the appointment until they have the loan documents in hand. Very often that happens only a couple of days before closing. While I can’t get escrow to agree with me because they won’t even talk about an appointment until they “see the docs”, I usually tell clients to be prepared the day before closing, or the day before that, to take a couple of hours off from work.

Once all of the papers are signed, the buyer pretty much just waits until they get their keys. After you sign your documents they are sent (usually by courier or fax) to the lender for review. Lender review can take 24-48 hours at which point the lender “releases the transaction to record”. This release must happen in the morning or early afternoon. Once the transaction is “released for recording” the agent gets a call and then later in the day when it actually records, everyone involved gets a call with “recording numbers”. Once the recording numbers are received, you can get the keys to your new home. That last call often happens between 4 p.m. and 5 p.m. So taking the day off from work to wait for that call and your keys is usually not a good idea.

When the documents are very late, it could be either because the escrow timeframe was short or because the loan was “difficult”. Zero down loans with stacked costs or loan amounts that are stretching the buyer slightly past the place where the lender is comfortable, usually have more “conditions to funding” and tend to be the ones where docs are arriving very late in the game. If you have a credit score of over 750 and 20% or more down, the docs may come in very early, and all you have to do at the end is wait for the keys.

More often than not, the buyer looks like the poor gal in the photo above…and very glad to be at the finish line!

Top Ten Things A Home Inspector Says

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[photopress:top_10.jpg,thumb,alignright]It’s Time for another Top Ten! Those of us who have been to 100 too many home inspections can practically stand behind a home inspector and mouth what he is going to say next, when it comes to these “Top Ten Things A Home Inspector Almost Always Says”. No we don’t do the two finger rabbit ears behind his head 🙂 I swear we don’t!

NUMBER ONE:

You need a GFI over here by the sink, oh and another one over here in the master bathroom, and one down here by the kitchen sink…and one more out here in the yard, at the outlet next to the hose bib.

NUMBER TWO:

Contact…contact…Earth-to-wood contact over here.Get that firewood AWAY from the HOUSE!

NUMBER THREE:

Now this here tree is planted WAAAAY TOO CLOSE to the HOUSE!

NUMBER FOUR:

You want to treat the roof for moss BEFORE you get moss. You can spray the treatment on with a hose from on the ground. But first you have to get the moss off the roof, because the treatment will only keep moss away. It won’t remove the moss you’ve already got. I tried to get a website link for you, but lots said we should all trash our roofs and get metal ones. Moss can’t grow on a metal roof. Pretty noisy neighborhood if it starts hailing on all the metal roofs.

NUMBER FIVE:

Cracks in the Driveway!

NUMBER SIX:

Pine needles on the roof, in the valley flashings and in the gutters.

NUMBER SEVEN:

Chimney flashing. if I had a nickel for everyone of these…

NUMBER EIGHT:

Hanging gutters, loose gutters, missing gutters, gutter downspout too close to foundation, divert water further away from the house.

NUMBER NINE:

CAULK! Take out the old caulk…put in the new caulk. Caulk inside where the tub meets the tile. Caulk outside of the tub where the tub meets the floor. Caulk around the kitchen sink. Apparently we all need many tubes of caulk in various colors, including no color at all!

And NUMBER TEN IS!

UH OH…NO TAG ON THE HEATER! OLD TAG ON THE HEATER! NO TAG DATED 2006 ON THE HEATER!

2ND INSPECTION NEEDED TO HAVE AN HVAC QUALIFIED INSPECTOR SERVICE AND INSPECT THE HEATER.