Popcorn ceiling removal

popcornI really would like as much info as anyone may have about removing popcorn ceilings. Whomever invented those things should be drawn and quartered. Also called “cottage cheese” ceilings. I think they look more like large curd cottage cheese than popcorn.

1) How have you tested for asbestos before removing?

2) Any step by steps of the process appreciated

3) If anyone in the Seattle area has had them professionally removed, who did it and can you break down the cost per square foot? I assume without asbestos is cheaper to remove than with asbestos. Is there a cost per square foot?

Anyone know why they were popular? Anyone still like them, and if so, why?

Queen Anne Condos

Isn’t that photo Awesome! I just got an email announcing the Broker’s Open on Tuesday, September 19th from 12 to 2, but I have an appointment here on the Eastside at 1:30.

First Public Open will be September 23rd and September 24th from 11 a.m. to 6 p.m. An amazing array of styles from studios to townhomes and amazing array of prices to go with.

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More info at www.queenannehigh.com Very cool site. You can visit each floor and scroll around the different units and floor plans. The studios start in the “low” $300,000s. They say “townhomes” start in the mid $700,000s. Not sure how you fit a townhome into a High School. Lots of floor plans and prices in between. I think there are 139 units altogether on five floors, plus a furnished rooftop deck with amazing views.

One of only 37 buildings in Seattle on the National Register of Historic Places. Should be worth the trip! I’ll have to catch it at one of the Public Opens.

Queen Anne High School was built in 1909 and the historic photos on the site are well worth visiting. This is a public service announcement, and not an advertisement of a Coldwell Banker listing 🙂

Top Down – Bottom Up

I was helping an agent with a listing that hasn’t sold yet, and one of the simple, yet dramatically effective things I did was rearrange the blind openings. This is particularly important for view property and any property where cars or the street show when you raise the blinds from the bottom up.

If you see two sets of strings, one on the right and one on the left, this usually means they are “Top Down-Bottom Up” blinds. This type of window treatment allows you to cover the low portion of cars going by, but let in light and sky and sometimes tree tops from the top view.

They are great for view property if the windows are low and tall, because they allow you to enjoy the view from the inside without the neighbors seeing you in your boxers 🙂

Should You Pay More For THIS House?

[photopress:polly.jpg,thumb,alignright]When determining how to structure an offer on a property, one of the key considerations is, “How scarce a commodity is this home?” How scarce it is to you, depends on the parameters you have set, and why you like this particular home, which varies from person to person.

If the property is unique because it has the largest lot in the area, then the seller is correct in putting a premium on this feature of the home. But, if why you are buying it is NOT because it has a large lot, then maybe you should not be the one to pay the “justifiable premium”. A justifiable premium for the seller, is not necessarily a justifiable premium for the buyer.

Often the seller will dramatically highlight their “premium” feature, such as a large lot, when they should not. I remember showing a home, with the owner in the home, and they kept raving about how huge their lot was. I could tell that the buyer had totally tuned out and had no interest in the property, but we couldn’t leave because the owner was going on and on about the size of the lot. When we got outside the buyer said, “Not me! I’m not spending my life maintaining the biggest lot in town!” I asked if he would have been worried about that just by viewing the property, without the seller’s influence. He said no, but now that I have this picture in my head of spending all of my weekends mowing the grass and maintaining the landscaping, AND paying MORE for the house for the “privelege” of it sucking up all of my free time, I just can’t see myself in that home. Otherwise, I may have bought it, but let’s just get out of here.

So the seller may indeed “deserve” more money for his house than anyone else in town, because he has the largest lot. But that does not mean that every buyer should offer that premium, in fact some will discount it, for the very reason the seller is raising the price. The buyer may deduct for the extra maintenance of the larger lot, while at the same time the seller is adding a premium for the extra land.

The photo above is in reference to “our Polly” who had the best question in the month of August. Before responding to a counter offer from the seller she asked, “What is the likelihood that you could find us a similar home within the next 60 days?” I was knocked out by this fabulous question! If only two of those have sold in the last year, then the liklihood is slim to none. If 40 of them have sold in the last six months, then you can play hardball with the seller. Excellent question to ask while in the middle of negotiations.

EAL vs. ESL

[photopress:it.jpg,thumb,alignright] This comes under the category of “You learn something new every day.” Over the years I have found that I generally have a much higher percentage of clients who moved here from other countries, or whose parents moved here from other countries, than some of my peers. I was at a client’s house over the weekend (helping to strip wallpaper, which I am very good at doing) and everyone at the house was speaking both English and Romanian, except me of course 🙂

One of the guests taught me a new term, that was more politically correct, and I was at once converted! I asked if ESL, English Second Language, was an appropriate term or offensive in any way. My sister had taught me ESL, since she has a fairly high percentage of students that are ESL the same as I have a fairly high percentage in my field. Prior to that I was using “The English is not my first language crowd”, so ESL was definitely an upgrade.

A lovely young lady advised that her husband preferred EAL, and that it was more politically correct. Of course! How American of me to suggest that English was someone’s SECOND language, when in fact, it could be their FIFTH language. My friends from Bulgaria speak at least six languages. So EAL, English ADDITIONAL Language, is clearly more appropriate for most people from other countries.

I am a 2nd generation American, which may be the reason why I have a high percentage of clients that are Indian, Filipino, Romanian, Italian, Korean, Chinese, and others over the years. Not because I speak their language, which I do not, but because I understand that different cultures have different ideas with regard to home ownership.

I remember back to 1990, my very first year in the business. I had a client who was a young man from Russia. It was apparent to me, though he did not come right out and say it, that he didn’t have an accurate perception of what was included in the sale, and what was not included. Now many of my clients have some questions in that regard, but for this client the entire idea of owning a property was somewhat “foreign” to him.

I literally walked around and touched practically every item. He was in fact quite pleased to learn that the kitchen cabinets would be staying as well as the stove. He was a little confused about why the wall to wall carpeting was going to stay, but the area rug would not be there after the owner moved out. And when it came down to the mirror in the living room leaving because it was hanging like a picture, but the “mirror” in the bathroom WAS staying because it was a recessed, built-in, medicine cabinet, he just shook his head and took my word for it 🙂

This brings up a point that a recent commenter raised. He said he sometimes has to read my writings twice to “get” what I am talking about. In almost every real estate transaction a client has to trust that the agent is correct, rather than totally understand everything involved in the transaction. For persons who speak English as an additional language, who have not been involved in home ownership issues for most of their lives, being able to trust the judgment of the agent is even more important than almost anything else. Trust becomes the all important factor in the relationship.

Even if they do not understand all of the details and the “whys”, if they trust the person at the helm, life becomes a whole lot easier for them. Being able to focus primarily on which home they want, as opposed to each and every detail of the process, can be quite a relief for anyone, but especially for EAL clients.

Labor Day – The "fruits" of our labor

[photopress:labor.jpg,full,alignright] One of my most memorable transactions here in the Seattle Area was assisting a “homeless woman” with the sale of her house. Seems like a contradiciton in terms, I know. There was a woman who walked the streets wheeling a child’s suitcase behind her who “owned” a gutted, burned out house. She had put a For Sale By Owner type sign on it with a phone number, and a local agent had brought her an offer on it by the time I received a call from her asking for assistance. In fact she was seeking the assistance of another agent in the office, who had already asked for my assistance on handling this when the call came in, and it was pure coincidence that I happened to answer the phone when she called.

I cannot go into any more detail because this was a very unique transaction, to say the least. Besides throwing legal papers in sealed envelopes over a chain link fence onto the porch, which at times was my only means of conveying information, there were several meetings in the hot sun on the front steps with those big black carpenter ants crawling all over me. Since the ants crawling on her did not make her flinch, I persevered and mirrored her behavior…no small feat.

Point is, the “fruit of my labor” was my effort, and not “the satisfaction of my ‘client’.” In the end the woman was very unhappy to find that the proceeds belonged to all of the heirs, even though I had told her that at the onset. In the end the woman was very unhappy that an attorney needed to be involved in the distribution of the net proceeds. I charged a nominal fee, and in fact offered to handle it for free initially, but she would take no charity and griped about the nominal fee, both at the same time, which made not much sense. But then not much in this transaction made much sense.

Someone recently asked here what my highest achievements have been. I’d clearly have to put “selling the house of a homeless woman” on that list. I don’t know what she is doing now, but I am hoping she is doing what she said she would do, take the money and buy a little place in Virginia near her son, who was being raised by a relative and going to college there. I picture her there, being cared for by her son and relatives in a little house by a creek with a weeping willow tree. Clearly she was one of my most unhappy clients…and yet somehow, at the same time, one of my “highest achievements”.

Be proud of the fruits of your labor…be proud of your efforts to achieve those fruits, on this Labor Day 2006.

Russ, NO! Please Say It Ain't SO!

[photopress:joe.jpg,full,alignright] One of the FEW rights of a buyer these days, is that they have 3 days to review the “Form 17” Seller Disclosure Form.

These forms are often sitting out at the homes when buyers view property, and often buyers pick them up at every single house. Recently the mls system has made these available online, so we can send them to our buyer clients, before they even see the property. A buyer could conceivably recieve 20 or more Seller Disclosure Forms, before even deciding on a property.

The first page of the Seller Disclosure Statement says in all caps: “You (buyer) have 3 days from the day seller or seller’s agent delivers this disclosure statement to you, to rescind the agreement.”

Some agents are suggesting, that every single buyer who has picked up a Seller Disclosure Form in a house, and now possibly weeks later makes an offer on that same property, has given away their 3 day right to review it! They had it in their hand weeks before they were even interested in making an offer, but the clock started ticking the day they picked one of these forms up while looking at property? Is that even remotely possible?

Please say it ain’t so! Otherwise get those darned things out of those houses and off the online access! What a TRAP! Please say it ain’t so…please. Russ, your thoughts MUCH appreciated. Seems to me that if a buyer has “3 days to rescind the agreement” that there has to in fact BE an agreement at the time of delivery!

Really BIG News!!

[photopress:85936861.jpg,full,alignright] I just got this invite via email. These have been short term rentals until now. I LOVE this location and have placed people relocating in them while they look for a house. There are two buildings on either side of first street that were part of the same short term rental…near Sur le Tab and the Greek Restaurant, for those who know Kirkland. Fabulous LOCATION!!

They will start at $350,000 and go to $1,200,000. Will give another report after the agent preview on the 7th, but email me if you want to get your dibs in on the best of the best. This is really big news for Kirkland. Yes, there are other new condos and conversions…but not with a location like this one!! Excellent traffic patterns as you can go up to 7th and all the way across and out, without getting stuck in “the Kirkland Crawl”. Oops…don’t tell the people on 7th I said that…it’s supposed to be a local secret.

Maybe I’m overly excited because I just love this location better than any other. A local perspective, I guess.

No Credits "For Repairs" Allowed

This excerpt from a recent comment to an old article of mine, deserves more than “comment back” attention.

“we said we would take $5,000 for…repairs…The addendum was signed by both seller and buyer….Our lender wanted us to take the word repairs out of the contact, but we wouldn’t do it, so our loan fell through…’

Lenders do not want to lend out money for future repairs to a home, nor do they want to finance properties that need repairs. Let’s say a house needs a new roof and the cost of that roof is $7,500. Agents cannot write a contract with an addendum that says “Seller to credit Buyer $7,500 for a new roof” and expect the sale to close. Nor can the lender simply say “remove that addendum”, as if the buyer is supposed to pay the same price without a new roof or the money to buy a new roof.

Clearly this situation has come up several times in my career. Most recently, the roof was OK, but was two layers of composite over a wood shake roof, meaning at time of replacement all three layers would have to come off. Also, since wood shake roofs do not have sheathing, the new roof would have to include all new components and not just new shingles. The owner agreed to “pay” for most of the new roof and the buyer “agreed to pay” for a portion of the new roof. The new roof was installed by the seller prior to closing, and the sale price was increased to include the buyer’s share of the roof cost. Excellent resolution as the lender financed a house with a brand new roof. Everyone is happy.

Another good and often used solution, if the buyer wants to take a credit and pick and install their own roof, is for the buyer to take a credit “toward closing costs”, They simply use the money they were going to use to pay closing costs, to put on a new roof. It’s just a replacement of these monies for those monies. It satisfies the lender, as they will usually allow a credit toward closing costs, but not for repairs. As long as the appraiser doesn’t “call” the roof and require it to be done before closing, the buyer can get the monies this way.

So is Denise “bad” to refuse to take the word “repairs” out of the addendum? Or are the agents (if there were in fact agents involved) “bad” for writing and accepting an addendum in the first place, that they should have known would cause the loan to fail?

It is no surprise to me that a lender would not fund a loan that included a $5,000 credit “for repairs”. It is worth noting here, so that others do not write or accept addendums that offer credits for repairs, that send up red flags to the lender that the house is not in good condition. Perhaps it was a For Sale By Owner that Denise purchased without the assistance of agents. So to For Sale by Owners and private individuals buying from For Sale by Owners. and attorneys who assist in transactions without agent involvement, please note that generally speaking, a lender will not fund a loan with a repair credit, especially if there is little or no downpayment.

For Mother

[photopress:for_mother.JPG,thumb,alignright]I found this photo on my desktop titled “For Mother”. Isn’t it amazing what kids can do with their cell phones.

Anyway, I really shouldn’t tell this story, but it’s going to fade away if I don’t. I met this young fella at an Open House. He was just the cutest thing and he was all excited about buying his first place. He was asking me if he could make a cutout in this wall between the kitchen and the dining area. Then he wanted to know if he could move the washer and dryer from in the kithen out to near the front door away from the bedrooms. The next day I called him and told him I found a place like the one he was trying to “make” out of the one where I met him. He came over and bought it.

It was dirt cheap. $130,000 for a two bedroom (two years ago in May) and it had a jacuzzi! A huge “yard” open space, fabulous upgrades and it had been on the market for awhile. Crazy. None of the mls photos had any of the upgrades. No real sign on the property. It was just sitting there waiting for someone to steal it. We were so happy.

Then he looked sad, and when I asked him why, he said his Mom in Eastern Washington was very ill, cancer, and she couldn’t come and see his first home. I went over to the property and took photos of all the things the listing agent didn’t. All the upgrades. I made a book that I bound with my GBC of 8X10 color glossies titled “Xs First House”. I went around the complex and took pictures of every different variety of Rhodie in bloom. I made a “frame” with all the Rhodie pictures in pink and red and purple flowers. I gave him two copies of “the book”, one for him and one for his Mom.

His Mom passed away before we closed and he couldn’t express how happy she was to “see his first home” with him before she passed. He brought the book to the hospital and they “walked through the condo” together in book form.

Recently I sold that same condo. He had a net return of $50,000 in two years. Now most people look at the King County appreciation rates at whatever…12%, 20%, whatever per year. The reality is this. He only spent $4,500 out of pocket. He had no downpayment and I wrote most of the closing costs into the offer.

So what is the return on $4,500 that turns into $50,000 in two years? Did his neighbors see that kind of return? No. Why. Why were we so darned lucky on both ends of this transaction? It just had to have something to do with his Mother, don’t you think? It’s just amazing that someone can turn $4,500 into $50,000 after all costs, both the costs of purchase and the costs of sale. And I adore him and he trusts me implicitly and that is really what “selling” real estate is all about. Helping someone else’s kid. Just like someone helps my kid when I’m not around. Everyone is someone’s kid to me…but I really shouldn’t have voted for George for Barbara’s sake 🙂