iGenHome…

iGenHomeAn article from the Silicon Beat says that iGenHome is attempting to add a strong technology backend to the standard real estate agency. I’d imagine that just about anyone reading this blog knows that the real estate industry is set for some major technological changes in the near future and that I enjoy watching where the different players take it. I’ll be following this site and maybe have a full review in the near future… (Thanks Venture Blog for point out this article!)

It may sound too techy, but the first thing I look for in a new tech site is their support of RSS. (Scobleizer would understand!) So, I was disappointed to see no obvious RSS feeds available on their site. Even if you don’t know what they are, I’m of the opinion that you will be using them in the near future!

Here’s one example of how RSS feeds could be useful… I’ve begun presenting the “Latest Seattle Listings” here on my sidebar (if you’re reading this via a reader software, come check it out on the site!). This is just a little test of some RSS feed technology that I’ve been working on with Robbie Paplin of Caffeinated Software. We’ve got some other things up our sleeves that I find real interesting and I look forward to presenting more in the near future! By the way, is there a feed of Seattle home-data that you’d be interested in subscribing to? Let me know and I can probably make it happen for you!

Real Estate Search Options (with an Emphasis on Feeds)

View from a Houseboat in SeattleAs promissed a few weeks ago, I’ve been updating my list of real estate search technologies on a regular basis.

Thanks to your emails (along with a little curiosity on my part) , I’ve been able to add more sites in the list in the past few days. If you know of any other sites, definitely let me know!

One of the more interesting options I’ve seen is CityCrybs. I really like that they’re offering RSS feeds (a topic worthy of another post!), but seeing as how all of their listings are for the East Coast, I can’t really play around with the site much and understand if the results are any good. Can anyone from the East Coast share their opinion on this site?

Along these lines, would anyone in the Seattle area be interested in an RSS feed of homes as they get listed in the MLS? It really wouldn’t be very hard to put together, but I’m not sure who it would appeal to. In other words, for most people, getting a listing of every home that comes on the market would be overkill (even for a small geographic area) unless you just wanted to use the list to “keep up” on your neighborhood. But are there some specialized feeds that would appeal to people? The first example that comes to my mind would be for an investor who would be interested in finding about each home that has a low $/s.f. ratio? Maybe a feed of homes that have been on the market for over 60 days? Hmm… How about each houseboat that comes on the market?

Do you have another idea for a real estate listing feed? I’m definitely interested in hearing about it!

Senior Housing Boom or Bust?

John Luther Genealogy PhotoI’m a few days behind in this post, but it seems worth noting that the Seattle Times had two stories this past weekend on the Senior Housing market that made me scratch my head…

Article #1, some feel squeeze from senior-housing boom, explains how the boom in senior-housing facilities is making it difficult to find a starter-home, while article #2, many seniors find few housing choices in area, explains how seniors are finding it difficult to find small, inexpensive (i.e. starter) homes.

Maybe the two authors need to get together and write one article that says (surprise, surprise) that finding an inexpensive starter home in Seattle can be difficult. πŸ™‚

List of the Most innovative Search Sites

Innovative Real Estate TechnologiesThere are so many interesting real estate search sites that are pop up every day, and in the process of trying to cover all of them in a blog format, I think things have gotten a little too scattered. So I took a little time this evening and put all of the sites that I’m aware of on one page along with a few notes about them. Check it out at:

At this point, I’ve broken all of the sites into four categories:

  • National Sites: major MLS and FSBO sites
  • Regional Sites: smaller data sets that are yet to go national
  • Specialty Sites: sold data, property information, etc.
  • Vaporware: still waiting for a product…

This beauty of making this list on a webpage instead of a blog post is that it will be much more fluid. I always feel awkward about updating a blog entry after I’ve posted it, but I’ll feel no qualms about updating this list on a regular basis. Along those lines, if you know of an innovative real estate tool that I’ve missed, please let me know!

Growing Rain City Guide…

Russian GenealogyI noticed yesterday that this site has started to get hits from google on the search term “real estate”. I did a little more digging and found that Rain City Guide still doesn’t rank that high on standard google searches, but on Google’s Blogsearch, I’m now one of the top five sites that it returns for “real estate

This reminded me of a post I put together last march (before Rain City Guide existed!) on Anna’s first real estate blog. Back then I was still trying to figure out What does it take to be a successful real estate blogger?” I just reread the article for the first time in months and I’m amazed at how much that article set the stage for everything that has become Seattle’s Rain City Real Estate Guide. I thought I’ve give my thoughts on how this site has evolved, but first I’m going to take us back to my initial thoughts on a real estate blog:

What does it take to be a successful real estate blogger?
What does it mean to be a successful real estate blogger?

I’ve been asking myself these questions a lot lately as I try to figure out where I should take this site. Where does one start? Google, or course! So I searched “Real Estate Blog”:
Google Search: real estate blog

Of course, generating traffic is of the highest priority, so I want my site to rank high in google searches… So what are:
Southern California Real Estate Blog and Toronto at Home doing “right” so that they rank so high?

1) The highest ranking site, the S. Cal. blog, is using blogger technology. (They have a ***.blogspot address, just like me.) Neither of the top two sites hosts their own site under their own domain (such as www.annaluther.com), which makes me think that I should be content and satisfied with my site location. In addition, the S. Cal site has the poster’s names in it highlighting the fact that the domain doesn’t really matter (in other words, the domain doesn’t have to say “seattle” or “real estate” in order to rank high. The content of, and links to, likely matters much more.
2) Both of the top two sites add a blog entry at least every other day.
3) The top site has been blogging since Aug 2003 (1 1/2 years), the second site only since Nov 2004 (5 months) (at least that is as far as the archives go back.
4) Both place links to other real estate bloggers in prominent places on their website.
5) S. Cal blog is chatty with general updates (spring cleaning, flipping real estate, etc.), while Toronto’s site is loaded with longer articles that would be right at home in a Realtor magazine.
6) Toronto’s blog is particularly slick and is loaded with links to good information!!! The clean photo of the blogger at his laptop sets the mood for the entire site.
7) Each entry on Toronto’s blog is categorized by type of information. This is quite nifty and very easy to use.
8) Both sites are very well integrated with a website (lots of links back and forth). My preference is to not keep up a traditional website, but instead, just find a way to host files that I can link to… I’ll have to think on that one.

In summary, I think the Toronto blog looks a lot better, and I imagine with time, it will surpass the S. Cal Blog in google searches simply because it offers more and better information.
Did I answer the question of what it takes to be a real estate blogger? Definitely not completely, but I’m getting some ideas…

So what’s changed since I did my research 9 months ago? And why did this post affected the development of Rain City Guide? I’ll follow up on each of the numbered points:

  1. Shortly after writing this first comment, I splurged and bought a domain name (raincityguide.com) and a hosting service. While I still believe I could have had a very successful blog using blogger, I really wanted some additional features (like the ability to address comment #7) that simply are not available on the Blogger platform!
  2. I learned that a blog needs to be fed regularly, and I think I’ve been pretty good about that…
  3. Rain City Guide has been up for 8 months and is only now starting to rank high in google searches.
  4. I’ve added links to my favorite bloggers. I’m pretty good about trading links with any relevant site that has good content to offer users!
  5. I’d like to think that I’ve learned from both sites. We try to keep things relatively informal (chatty?) on Rain City Guide while remembering that every once in a while, you have to provide some good meat to chew on!
  6. More than anything, I learned that I really wanted to personalize the site. Knowing that I would be using lots of photos from Wendy Baker’s digital photo library, I added four “Seattle-only” photos to the title bar.
  7. I really wanted the ability to add categories (and photo libraries, calendars, etc), so I moved Anna’s original blog from Blogger to WordPress. I’ve really enjoyed exploring all the options available with WordPress, so I’m glad I made the move early on.
  8. As you may have noticed, I haven’t even bothered putting together a regular website for Anna. If I end up getting a really good home search tool built for this site (I’m working at it very slowly), then I may throw up a more generic site… but I’m not even sure that will be necessary.

Interestingly, my prediction that the Toronto blog would pass up the S. Cal Blog (now simply called “The Real Estate Blog”) on Google searches turned out to be correct. Toronto at Home has moved to #1, while The Real Estate Blog has dropped to #4. Nonetheless, they are both great sites, and I’ve learned a ton from both of them!

Do you have any comments on the direction of Rain City Guide? Would you like to see us cover a different part of the real estate scene in Seattle? You should always feel free to email us or leave a comment on any of the postings!

Filling in the Rain City Guide Vision…

[photopress:conversation.JPG,thumb,alignright]Part of the vision that I have for Rain City Guide is to add more contributors who can bring different areas of expertise in order to broaden our discussion. Along these lines, I want to extend a warm welcome to Craig Blackmon. Craig is a local real estate lawyer and I hope that he will continue to write more articles like the one he posted yesterday on The Financing Contingency.

Most real estate agents are not trained in the minutiae of real estate law… and there are times when the best response an agent can give to a client is: “you should talk with a lawyer.” I’m glad that Craig has decided to post some articles on Rain City Guide, and I’m sure that I’ll turn to him with questions in the future!

For those wanting a little more background on Craig, I’ve grabbed his bio off of his website (Law Office of Craig Blackmon):

I’ve been practicing law since 1999, when I graduated from the University of Washington. Prior to that, I worked as a public high school teacher, one year in NYC followed by three years in Chicago. I realized that, although teaching is very rewarding, it is extremely difficult being responsible for 150 kids in one hour increments of 30 each. So I followed my father’s career path and enrolled in law school. After graduation, I worked for five years litigating claims of negligence, usually defending health care providers against claims of malpractice. I tired of the stress and long hours, so I took a job as in-house legal counsel for Group Health Cooperative, a large, consumer-owned health care provider here in Washington. After several months, I realized I missed the human interaction that is so integral to both teaching and the private practice of law. At about the same time, my wife and I sold our house, and in the process I realized the importance of good legal counsel during the transaction. Shortly thereafter, in June of 2005, I left Group Health and launched the Law Office of Craig Blackmon.

While I’m a huge fan of people using real estate agents (surprise, surprise…), a quick glance at Craig’s website also reveals that he has reasonable fees for people looking at selling or buying their home via For Sale By Owner (FSBO). If you do decide to go sans agent (and you live in the Seattle area!), then it seems that the $500 or so that he charges could drastically simplify the process AND bring you some piece of mind! (a good night’s sleep should not be underestimated!).

By the way, you can also read some more from Craig on a new blog that he has started to fill in: http://residentialrealestate.blogspot.com/.

Inbox: Where to Live Based on the Quality of Seattle Public Schools?

I’ve been having a dialog with one of my readers who is looking forward to moving to Seattle. His last email summarized some of the research he has done on Seattle schools, and I thought the entire email is so good that it deserved a wider audience:

Dear Anna —

I’ve got another issue you might want to explore on your blog, and get readers’ feedback. Do people looking to buy real estate in Seattle base their choice of neighborhoods on the quality of schools? From my understanding of the Seattle public school system, it seems that one does not need to consider high schools among ones neighborhood selection criteria, since at least in term’s of today’s system, there’s no admission advantage (other than just being close) that accrues to living in the “reference area” of ones preferred high school. However, there does appear to be an advantage to living in the reference area of ones preferred elementary and junior high schools. And if budget cuts ultimately mean cutbacks in school choice (though that has been averted for the time being), then it’s likely that it will be even more important. So, what this means is that if school quality is important to you, you should look at the neighborhood elementary and junior high schools.

However, if one looks at the Seattle city schools in comparison to suburban schools in terms of grade scores (as tabulated by the Seattle Times School Guide), quite a few elementary schools (e.g., Lowell, View Ridge, Wedgwood, Hay, Lawton, North Beach, Whittier, etc.) compete with the best suburban schools (Mercer Island, Bainbridge Island, etc.). However, at the junior high school level, all but a few junior high schools (Eckstein, Tops, Washington) fall out of step with the best suburban schools. And at the high school level, only the Center School ranks with schools on Bainbridge, Mercer Island, Bellevue, Issaquah and the Northshore. The obvious conclusion, then, is that if you seek top notch schooling in the upper grades, your choice comes down to having your child compete for a place at a few select Seattle city public junior highs or high schools, or else looking at private schools, or moving to the suburbs.

What do you think of this analysis? What other school related-factors are there to consider?

I hope you don’t see this as too self-serving. It strikes me as it is a fundamental part of buying real estate, but is rarely fleshed out in public, probably because of the hot-button racial issues involved.

(I’ve left the writer of this email anonymous at his request)

When he asks if any other factors should be considered, I think of some of the specialty programs that different schools offer. For example, all of the 5th grade students at Greenwood Elementary School are taught how to fly airplanes (Cessna 172’s). I imagine that some parents would be willing to give up a few test score points to know that their child was in a more stimulating environment.

What other specialty programs are there that might be of interest to parents moving to Seattle?

What other school-related factors should he consider in looking for a home in Seattle?

I would definitely like to open up his questions to other readers, so please feel free to leave comments below.

Seattle’s hot housing market

Hot September Market Chart
According to the latest statistics from the Seattle Times, the housing market is still hot. “Homes sold last month in King County were on the market an average 37 days, compared with 52 days for homes sold the previous September. Properties in neighboring counties also were snapped up faster than a year ago.” The article notes that while home prices in Boston and Washington DC have started to decline, our market stays strong.

Interestingly, the home market has remained strong despite the recent increases in interest rates. Frank Nothaft, chief economist at Freddie Mac is quoted in the Seattle PI as saying “The most likely pattern is for mortgage rates to gradually rise over time. It is likely that they’ll hover at 6 percent or just a bit over.” He added that “will translate into somewhat weaker demand for housing, lower home sales volume and lower house price growth.”

Further interest rate increases by the Federal Reserve will likely increase rates even higher:

At the same time, a few consumers prospecting for properties – especially those prequalified by lenders – may be spurred into action by the rising interest rates.

“People may start buying before it (the mortgage rate) goes up any more,” Binczewksi said. “They would make offers because they have rate locks. Now, with rates increasing, they won’t want to lose rate locks.”Further interest rate increases by the Federal Reserve probably will push ARM rates even higher, analysts said.

With the rapid growth in home prices, I’ve seen many of my clients opting for smaller homes and/or condos. The Time article reflects this pattern by showing the the total number of available condos is way down (1,347, compared with 2,121 a year earlier) while the median price is up ($229,950, up from $205,000).

home search progress…

house Values House Values launched a new site today that combined aerial photography with real-estate listings and extensive neighborhood information. The Seattle Times notes that Home Pages “has information covering 92 percent of the nation’s metro areas.”

HomePages combines aerial photography with neighborhood demographics. When you click on an icon, neighborhood data such as local school information is given such as the student-teacher ratio, average class size and even the name of the principal. Of course you can view all the homes for sale , but I really like that it displays the homes in relation to neighborhood amenities β€” libraries, restaurants, theaters, churches, banks, police and fire stations among them. If you are interested in seeing where the future of real estate search is heading, this site is definitely worth checking out.

By the way, don’t overlook the value in their House Invaders’ game… πŸ™‚

Ballard History.

[photopress:shilshole_boats.jpg,thumb,alignright]The City of Seattle’s website has an interesting tour of Ballard history that has some fun gems of information (including some wonderful historic photos).

“The first claim in the future city and neighborhood of Ballard was filed in 1852, the same year settlers arrived in Seattle itself. Development proceeded slowly until railroad entrepreneurs Thomas Burke and Daniel Gilman (remembered now with the Burke-Gilman Trail) assembled a large tract in 1888 for the construction of a new community.
Meanwhile, a ship’s captain named William Rankin Ballard lost a bet with a business partner and found himself the owner of 160 acres of seemingly worthless logged-off land adjacent to the planned Gilman Park development. Burke and Gilman hired him to manage their project, and appreciative residents named their new city after Ballard when they incorporated in 1890.”

“The large wave of Scandinavian emigrants were coming to this are and in 1889, when Seattle all but burned down, Ballard’s sawmills supplied materials to rebuild the city. For years, Ballard was the No. 1 producer of wood shingles in the world, earning it the nickname “Shingle Town USA.”

“Back than Ballard was a rough-and-tumble town. Factory whistles signaled the start and end of the day. Ballard was also a fishing town, and on Salmon Bay – the birthplace of Ballard – Alaska fishing trawlers remain a dominant presence. Men heading home would stop along Market Street to buy supper or hoist a beer in one of Ballard’s many saloons.”

“Now we define Ballard by boundaries on North 110th NW st. , South and West Salmon and Shilshol Bays and the East by 3rd Ave NW and Phinney Ridge. Ballard includes the neighborhoods of Loyal Heights, Crown Hill, Blue Ridge, Bitter Lake and Broadview. While the others are primarily residential, Broadview, roughly the area between North 105th Street and 145th Street from Puget Sound east to Aurora Avenue, is a community that has seen big changes in housing and urbanization. “