Do you know where to find landslide info for Seattle?

When people think of the NW and Seattle they frequently think of green trees, grey skies, mountains, water and possibly earthquakes.  And, while we do have earthquakes on occasion we do get a lot of rain and severe weather which in some areas brings on landslides.  If you’re considering buying a house on a slope, or below a slope, you might want to get to know a little bit more about these kinds of earth movements.

For those that aren’t already aware of it, there is a site on the City of Seattle website called the Seattle Landslide Study that can help you do research to determine if a property you’re considering purchasing might in a landslide prone area.  In fact, if you’re buying in Seattle you should probably get familiar with the Department of Planning and Development (DPD) site since a wealth of information is available on the site.

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President Bush signs significant mortgage tax relief bill…

There have been many signs recently that showed this bill would come to fruition and today President Bush signed it.  The bill provides property owners who have been affected by a foreclosure, short sale or deed in lieu of foreclosure where the property has debt forgiven to be released from the tax that would normally be due on the forgiven portion.  We recently had a transaction that would have had tax due on it had our client not found an alternate method of handling it.  The client had worked with a different agent before he met Team Reba and hired us for our services.  When I originally looked at his estimated net proceeds I discovered that he would actually have to bring money to closing.  A lot of money. 

 

The reason being is that he had already pulled out a very large line of credit (LOC) against his last home (the one I was about to help him sell) to buy his next home for his family.  With the costs of that taken out, some costs for a prior remodel, using the LOC to help make payments on two homes for over 6 months (ouch!).  Having a wife in school and 3 small children – there was a lot at stake for this family.

His first lien mortgage company suggested that he try and negotiate with the bank that held the LOC to see if they’d forgive some of the debt.  In this case, that would have amounted to roughly $35-38k.  If he was taxed at a 25% tax bracket that would mean he would have still been liable for a $8750 – 9500 tax bill. Plus, there would be the major hit to his credit standing because of the debt forgiveness.

It took a while for our client to really understand the situation (he is not originally from the US) but once he got it then he worked diligently to find a solution.  It’s not that he didn’t have appreciation from his former home, it was that he took all of that equity out and used it for other things without really getting much direction from his past agent or any of the financial companies (there were at least 3 loan situations where someone should have been talking to him about what could happen).  Why is it that none of these “professionals” gave him any counsel on it?  I don’t know for sure but I can say based on the number of agents and loan officers I’ve come in contact with that my personal opinion is that they think, “it’s not my job.”  Rather than understanding the client’s big picture, they’re interested in just completing the transaction in front of them. 

I’m pretty sure this is why this client ended up being very happy with us because he could see how hard we worked for him – he had a tough house to sell because of some pretty sloppy neighbors across the street that no one wanted to live near – and he and his wife could tell we really had their interests at heart.  We helped educate them on the process, talked about the pluses and minuses of certain choices, we directed them to accountants and got feedback from professionals for our client and more.   I even helped pick up the neighbor’s trash and had an abandoned car towed after several attempts to ask in person.  You do what you have to to get the job done.

I’m just happy to see now that others that might get into this kind of situation or who go through other difficult financial issues with their home have one less item to weigh them down.

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For those hoping to cash in on distressed property…

I just completed this post on Rain City Guide that you may want to read if you’re considering buying distressed property (physical or financial).  If you haven’t ever done a rehab project before, I’d recommend that you start small and learn small lessons first before taking on this big and scary of a project.  For agents out there reading this post… my recommendation is that you be very clear about your role if you ever get involved in a transaction like this one.  The disclosure issues in this situation are very serious and hit on many areas of real estate and common law.

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December 6th sales stats for November 2007 released from the NWMLS…

I’m specifically putting only the larger tri-county area for Puget Sound since that is the marketplace that I serve the most. If you’re interested in info on other counties in Washington State just post a comment on which county you’re interested in and I’ll bring those stats in too.

I can’t post their specific charts and info here because of copyright issues but I can give you the basics:

King County – Average sale price/$476,207, Median sale price/$385,990 with a total of 2187 closings for the month and 2084 pending (likely to close in December).

Snohomish County – Average sale price/$364,750, Median sale price/$335,000 with a total of 835 closings, and 760 pending sales.

Pierce County – Average sale price/$296,996, Median sale price/$262,950 with a total of 784 closings, and 828 pending sales.

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Wenatchee in top 10 hot real estate places in the nation…

This article in REALTOR(R) Magazine highlighted 10 cities in the nation that are still having hot growth despite what the media keeps trying to report for the national scene.  Wenatchee, Washington is one of them and is ranked number 1 for the US currently at 15.7% annual appreciation. Truly, real estate markets are localized and while there may be several areas that have experienced declines in the US, it doesn’t mean that ALL markets will experience a decline.  There are too many factors that impact the ups and downs of it.

 

One of the reasons Wenatchee has become so popular is because of its location near the major wine regions of Washington, plus it is the “Apple Capital of the World” according to this sign above put up in 1962.  On the city’s website there is a notice about an upcoming Winter Wine Gala on January 26th (Sat).

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Items of value we offer sellers when preparing to sell a house….

A few years ago Seattle imposed new rules about how things such as garage sale signs could be posted which included the denial of posting on telephone and other utility poles. This had the result of forcing homeowners to come up with creative solutions to get their signs out by the sidewalks.  Some of the visual impact that has followed along with this change is that you’ll see cardboard boxes with signs attached (and occasionally being blown around) or you’ll see stake signs (also illegal in Seattle) that are home made.

We decided a little while back that it might be useful for homeowners to have a flashy, easily visible A-board sign much like what agents use to show off their open houses in neighborhoods.  The result of our design is posted above in the graphic with this post.  Sure, it has our logo on it – we’re all for some advertising for ourselves too but the logo also puts folks on notice that this house may be on the market soon, which is a nice guerilla marketing tactic for our clients – especially as we go into a more neutral marketplace where marketing needs to be quick and effective.  And, if you’re a buyer, it might give you the head’s up early if a great property is coming on the market.  If you’re going to be working with Team Reba you can sign up for the use of our signs via the link.

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Podcast of Tom Kelly radio show from December 9th…

Many of you read that I was going to be the guest of Eric Aasness as he did a fill-in show on the Business Talk Radio show for Tom Kelly.   Eric will be on the show hosting again on December 23rd at 11am PT/2pm ET.

For those of you that didn’t get a chance to hear our program on the 9th, I am attaching it here for your listening pleasure.  Just click on the 12/09/07 podcast.

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Things to do in NYC in 48 hours or less…

In our whirlwind trip to NYC we were able to complete the following list of items between a Friday afternoon and Saturday night:

fly into La Guardia

taxi to lower east side apartment rental

hit local winebar with friends

Music and dinner at a local restaurant (Cornelius Street Cafe) which also has jazz music playing at night – fantastic food at this little place with the subterranean music venue. Save money by eating here too since they have a minimum bar requirement of $7 anyway and the food was really, really good.  (I had lobster ravioli and a great starter salad of portabello mushrooms, shallots, and mixed greens)

back to winebar for nightcap

Up in morning (but not too early) to find pastries and coffee and check out local neighborhood briefly while on way to subway

South on subway to World Trade Center site – tour area around it.  We didn’t go in the visitor center here but I was reluctant to go in anyway having lost clients (my days working in software) in this tragic event and knowing I’d be bawling if I did go in and personalize the experience.  Even what is left of the site is an engineering marvel.

New York deli lunch – darn good and a decent price too. Michael had a great pastrami sandwich, one of the best he’s ever tasted.

Subway back up to Central Park – check out the Trump ice skating rink and take in the park and all its activities.

Stroll (okay, deal with massive crowds) down 5th Avenue to see the gorgeous Christmas window displays.  They really do elevate this to an art here with many windows being impressive mini-stages of lavish textures, colors and fabrics. Some reminded me a bit of looking at the over the top sets for an opera – everything more than a bit larger than life.  Check out the also fascinating street performers that are everywhere in this area – we stopped for a few minutes to watch some all ages break dancing performers.

After walking past Rockefeller Center we backtracked a couple of blocks to tour the Museum of Modern Art (MOMA) for a couple of hours. Doing so helps you to escape the craziness of the streets and get a chance to warm up.

About this time it was starting to get dark outside so as we walked toward Times Square we were met with the incredible image of how bright it is in that area of town. The marquees and ads are so bright it’s almost like it’s still daylight there as you arrive. Stop and get some $2 honey-roasted nuts from a street vendor and head toward Ticket Ticket to get reduced price tickets to a Broadway show.

Dinner near Times Square (Italian food) at Le Tre Venezie was good (not stellar but very tasty) and better than trying to squeeze ourselves into one of the middle America eateries that clog Times Square to feed the masses of tourists.  Some decent prices on the wine menu help keep the budget intact.  I had the ala carte pasta choice of Vodka sauce and ziti pasta with a side dish of sauteed spinach (nicely done).  Michael had one of the veal dishes (he ate every bit and then finished my meal) and our friends had the swordfish special and the fettucini w/ white clam sauce.  Oh, and there was a Caesar salad (Michael) and a shared goat cheese salad with our friends which they really enjoyed. I could pass on getting a martini or the cannoli here again, but otherwise it was a good experience and relaxed compared to the hustle and bustle of Times Square – although we all did notice the staff here practically runs everywhere in the restaurant, including up the stairs.  Those guys and gals must have amazing legs with all that stair running.  No wonder there are so few overweight NYC residents.

Broadway show – we saw Avenue Q.  For some it’s a little bit racy and out of their comfort zone but Michael and I loved it.  We can’t get some of the songs out of our heads and I’m still trying to figure out if that is a good thing or not. :)

After the show we decided to head back to our little neighborhood area for a nightcap back at the wine bar. We could have stayed out later or found another place but by that time the owner really liked that we’d been coming each night to his spot and we were developing a fast friend here. It’s nice to be noticed when you travel too and to get some special attention that helps make your trip all that much more fun.  The owner helped us out with purchasing a bottle we could take back to our room (we all had early morning flights) and we all shared the bottle as we packed, recounted our trip, made plans for Christmas coming up (we’re all having dinner together) and more. 

Up and at ‘em for a flight out of JFK in the morning with a stop for a really tasty pumpernickel bagel and a muffin at the corner bakery on the way.

Overall, a successful trip even with all the delays and detours (a night in Chicago on the way out and way too many hours in Dulles on the way home).

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who knew that chocolate and cheese (staples of my diet) could kill tapeworms?

Well, maybe actually wine and cheese but I do occasionally indulge in chocolate.  Little did I know that I was doing so much good for myself not in just how my heart reacts to these foodstuffs but also that my intestines would benefit as well.

If you’d like to learn more, please read on at this link to a Washington Post article on the topic.

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I’m in a New York state of mind…

Last night I returned from NYC having attempted to make a long weekend of it in the Big Apple.  Well, because of a storm that hit the east coast on the 2 days that were travel days I ended up getting only 1.5 days in the city that never sleeps and I certainly started to feel that way myself after all the hours spent in airports. :)

But, regardless of the short time spent there, I found it interesting once again to check out the architectural, space, and overall quality of life differences between Seattle and New York City.  Funny for us when we returned, we saw that the Seattle Times had just posted an article about going to NYC for a trip.  Too bad it came too late for our trip, but we still had a good time and had a pretty clear idea of what we wanted to do there anyway.  We saved money by staying at an apartment that could be rented out versus going to the more spendy option of a hotel.

In comparing the prices of food and beverages I’d have to say that Seattle is pretty comparable to NYC.  In the neighborhood where we stayed there was a cool little winebar that we and our friends went to each evening to either start or end our evening activities. The prices charged for wine by the glass was about the same as you’d find in any downtown Seattle restaurant ranging anywhere from $8-16 per glass depending on the wine. Plates of shareable food were also similar in price and the quality of the goods were similar to many places that we frequent here at home.  I’ll say that this is a good thing because most of my pals would say that I tend to have more expensive tastes than others when it comes to food but I’d also have to say back that most of us have about the same level of acquired tastes.  What Seattle may lack in terms of fashion we more than make up in food.

That brings me to another topic: fashion.  Clearly, NYC wins hands down on the number of fashionable people as seen on the streets than you’ll find here in Seattle and surrounding areas.  I’d have to say that in the 19 years that I’ve lived here we’ve had a rise in the number of folks that put time and effort into their appearance and there is a bit less fleece than would have been seen 10 years ago but we’re a long ways behind other major metro areas of the USA when it comes to good looking fashions on the everyday person. A lot of people here will say that we dress for being practical but there were plenty of people in NYC that were dressed well and the clothing they had on was also practical for the weather – and it was a heck of a lot more cold and snowy there than it is here.  Our trip was impacted by sleet on a couple of days and even then New Yorkers had us hands down on looking good while still getting to work or play in a nice looking outfit.  Although I will admit that I had concerns about how hard the city would be on a person’s shoes over time with the sleet, snow and salt.  Maybe that is why so many people obsess over shoes in NYC.  Is it really possible the Carrie Bradshaw character of Sex in the City could have collected the vast array of shoes she had if they were being ruined by the weather?  I certainly could see why she’d pay for cabs and not use the public transportation system if she was trying to save her Manolos from damage.  One cool thing about going this time of year is that there are 50% off shoe sales all over the city – I got to look in one store but my friends weren’t really in a shopping mood so I unfortunately didn’t get to buy this time around…. but, boy, did I want to!

Of course, my partner, Michael also noted that women in the city would dress for going out as though the weather had no impact. We saw plenty of short skirts and open toed high heels in freezing weather and maybe that’s where the east coast gets the stereotyped hardened personality type – because a woman gets a little cranky when she’s cold. :)

Another one of our contributors to the blog here, Gerald Grinter, was also on this trip and he took a photo of the place where we stayed (I think) as well as the place next door.  I’ll confer with him on getting a copy of that photo or have him post it so I can write a quick post in the next day or so comparing apartments and living conditions of NYC to Seattle.

Gerald…. post up those cell phone photos that you took, ok?

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