Open House 12-2pm Sunday, 4/26, at Beach Drive listing

Posted on April 24, 2009 by Reba Haas

My clients have just dropped the price on this HUGE West Seattle house on Beach Drive to $699,950. This is a great price per square foot for this solidly built 1968 home. With some recent updates it is move-in ready and it is a perfect setting for enjoying summer in Seattle. Beach Drive is known for its gorgeous vistas to the west looking out over Puget Sound, the Olympic Mountains and the islands. Many people take advantage of bicycling wouth along the road toward Lincoln Park with its many recreational opportunities or heading north toward Alki Beach and its throngs of summer visitors and beach side dining.

Feel free to drop by on Sunday!

4878 Beach Dr SW Seattle 4878 Beach Dr main kitchen

4878 Beach Dr west facing living room

This large home also has the option of using a portion of the lower level (actually ground floor) as a separate living area or home office with kitchen. Some would call it a “mother-in-law” or MIL, another description preferred by the City of Seattle is ADU (accessory dwelling unit) or attached apartment. With 3660 sqft of finished space, there are many options for how to use the home. On the main level of the home there are 3 bedrooms including a master bedroom with its own private 3/4 bath. Another full bath is in the hall. Living room, dining room, eat-in kitchen with great room concept to family room all on this main level. The lower level has a large bonus room with a 3/4 bath. The portion that can be a separate apartment has an enormous bedroom area, full bath, kitchen and living room with its own wood burning fireplace. A total of 4 fireplaces are in this home, 3 inside and one built into the backyard chimney. See all the photos at this slide show link.

4878 Beach Dr lower level living room

4878 Beach Drive back deck

There is a front deck which faces west that follows the width of the house, a back yard deck and patio, and yard area for enjoying private time outdoors at home. Right on the busline and bike route, you can leave your car at home and make this your vacation spot in the city. Seller is willing to entertain some element of seller financing with a maximum 3 year balloon payment (aka payoff). Preference is cash out or conventional financing.

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Team Reba REO Squad coming to local neighborhoods soon

Posted on April 18, 2009 by Reba Haas

A new relationship we’ve built with a lender will have Team Reba hosting open houses for REO sales. These are bank owned homes, meaning that a foreclosure has been completed and the bank is selling the “real estate owned” asset on their balance sheet.

We’ll be posting our open houses here and on Twitter for anyone who would like to come see us and the properties. Currently targeted neighbhorhoods are Kirkland’s Bridle Trails, Bothell, Greenlake, South Seattle/Rainier Beach, and West Seattle.

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JUMBO loans seem to be splitting lenders focus in 2009 market

Posted on April 13, 2009 by Reba Haas

For the last half of 2007 and all of 2008 the hardest to sell market in the Puget Sound area was homes that were in the roughly $650,000 to $1.5M range. Why? Because most of those properties required JUMBO loans for the buyers to secure the purchase and this was the first and hardest hit segment of the credit market for residential sales. Most of these loans were held in portfolio programs at banks because they weren’t easily bundled into the other securitized packages that were being sold on to Wall Street because of their perceived higher level of risk because of the dollar sizes involved.

For those uninitiated to the world of JUMBO loans these are the ones that are just above the conforming limit, which has been at $417,000. There is a temporary bump up in higher priced areas (of which the Seattle/Bellevue area qualifies) to $567.5k and $506k but those still have a slightly higher rate associated of around a half point (.5%) above the rates available at $417k.

What’s interesting right now is that there is a mixed bag of news regarding JUMBO loans and their availability. One report shows a lender that specialized in these type loans filing Chapter 11 and getting out of the market. But another report says that some of the bigger players have decided it’s an underserved market and they’ll be moving back into that realm. Two of the lenders looking to provide JUMBO loans are Bank of America and ING.

I’m hoping that if these bigger players do get into that lending niche it will help open up some of the buyer activity for homes in that price range in our area. We’ve got a client or two that could use it right now and we’d like to see that part of our market get moving in a positive direction again. Cities like Bellevue, Newcastle, Medina, Mercer Island, Redmond, and Woodinville as well as higher priced areas of Seattle could really benefit.

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Need a copy of an oil tank decommissioning report?

Posted on February 23, 2009 by Reba Haas

Since there is an abundance of older housing stock in the City of Seattle, it’s not uncommon to have the question of whether or not an oil tank is on a property. To determine if a tank has been decommissioned it is possible to contact the local Fire Department and have them look up the address to the property and see if one has been filed. In this case I called the Fire Marshall’s office for the City of Seattle.

The Seattle Fire Marshal’s Office is located at:

220 3rd Avenue South
Seattle, WA 98104-2608

Phone: 206-386-1450
fax: 206-386-1348

Business hours are:

Monday through Friday
8:00 AM to 4:30 PM.

Most decommissioning reports have only been in place for roughly the past 10 years so if it was done earlier you may not have a record available to you. I’ve found that most municipalities are similar in process to this method of investigation so depending on where you live, you’ll want to contact the fire department responsible for your area whether in city limits or in an unincorporated area.

Most reports are faxed and not emailed, so be sure you can provide a fax number to whomever you speak to. Some lenders require a copy of decommissioning reports so be prepared to give a copy to your mortgage company/broker/lender, escrow and other parties as necessary.

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Burn ban expanded to King, Snohomish, and Kitsap Counties

Posted on January 18, 2009 by Reba Haas

Message from the Puget Sound Clean Air Agency

Stage 1 burn ban called for King, Kitsap, and Snohomish counties; remains in effect for Pierce County

January 18, 2009 – Due to stagnant weather conditions and increasing air pollution levels, the Puget Sound Clean Air Agency is expanding a Stage 1 burn ban to include King, Kitsap and Snohomish counties effective 12:00 PM, January 18, 2009. The ban in Pierce County issued Friday remains in effect.

Stagnant weather conditions are entrenched over the Puget Sound area and expected to persist through Wednesday night. These conditions greatly increase the potential for air pollution to reach levels considered unhealthy for sensitive population groups. The Clean Air Agency is closely monitoring these conditions and will take additional actions as necessary if conditions degrade to unacceptable levels.

During a Stage 1 burn ban:

*No burning is allowed in fireplaces or uncertified wood stoves, unless this is your only adequate source of heat. Residents should rely instead on their home’s other, cleaner source of heat (such as their furnace or electric baseboard heaters) for a few days until air quality improves, the public health risk diminishes and the ban is cancelled.

*Natural gas, propane and pellet stoves or inserts ARE allowed.

No visible smoke is allowed from any wood stove or fireplace, certified or not, beyond a 20- minute start-up period.

*All outdoor burning is prohibited, even in areas where outdoor burning is not permanently banned. This includes recreational fires such as bonfires, campfires and the use of fire pits and chimineas. Burning of storm and flood damage debris is also prohibited.

*Burn ban violations are subject to a $1,000 penalty.

(Note: The Seattle Parks Department prohibits beach fires at Alki and Golden Gardens during the burn ban.)

This ban is in effect until further notice.

Puget Sound Clean Air Agency staff will continue to monitor the situation to determine when the burn ban can be lifted. You can check conditions and forecasts at http://m1e.net/c?89487606-2LuFIG7kBpWNo%403906342-qhoH/zvQHCPCE

The Washington State Department of Health recommends that people who are sensitive to air pollution limit time spent outdoors. Air pollution can trigger asthma attacks, cause difficulty breathing, and make lung and heart problems worse. Air pollution is especially harmful to children, people with heart and lung problems, and adults over age 65.

This is the first burn ban of the season and the first since a new state law went into effect lowering the air-quality trigger for calling a burn ban. The trigger level was lowered to align with the US Environmental Protection Agency (EPA) health standard for fine particle pollution, which was tightened in 2006 to better protect public health.

For additional information visit pscleanair.org.

# # #

The Puget Sound Clean Air Agency is an air quality management agency serving King, Kitsap, Pierce and Snohomish counties. Created as a result of the 1967 Washington Clean Air Act, the agency protects public health and improves air quality by adopting and enforcing air quality regulations, educating individuals and businesses about clean-air choices and sponsoring voluntary initiatives to improve air quality.

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Hubba hubba for Ama Ama

Posted on January 17, 2009 by Reba Haas

I love trying out new restaurants and it’s always good to find a great deal too. In this year’s Urban Eats is a wonderful list of places to try out and one that I had the pleasure of checking out earlier this week during a client dinner is Ama Ama.

Ama Ama exterior

Located in West Seattle, this lovely place has a gorgeous interior with lots of chocolate colors and modern light fixtures. It was warm, inviting, and very hip. I could totally see this interior design easily fitting in to Belltown and here it was one block south of “the junction” of California and Alaska streets. The 3 for $30 menu had some great food options and we were not disappointed. I’ll be back!

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In today’s more competitive selling environment, does it make sense to stage?

Posted on January 12, 2009 by Reba Haas

My 2cents on that is a resounding YES! However, to provide support from a source outside of my own real estate practice I think it helps to see the stats that a local staging company has been providing on the subject. They’ve somehow been gaining access to MLS data showing sold homes in a variety of mid-to-upper end homes and this is what they’ve found in 2 recent reports they sent out.

Report released December 8th with viewing of properties sold for the prior 90 days through to December 5th:

“In our research, we found that in the Seattle Area in the past 90 days, 480 homes have sold that were listed between $500,000 and $1,200,000. Of those that sold (excluding the 20 Waterfront and Waterview listings) 79% were STAGED HOMES, 21% were unstaged or vacant. Sample locations were West Seattle, East Side/South, Mercer Island, Bellevue-East of 405, Bellevue-West of 405, Kirkland/Bridle Trails, Queen Anne/Magnolia, North Seattle, and Ballard/Greenlake. All data provided by Northwest Multiple Listing Service and based on online photos. “Pretty interesting stuff, huh?

The study they released today had the past 30 days information on homes sold through January 6, 2009:

Building on last months study, we again reviewed all sold homes in the Seattle area. From our sample, it is clear that homes that are Staged are selling at a much higher rate than those that are not. In our research, we found that in the Seattle Area in the past 30 days, 116 homes have sold that were listed between $500,000 and $1,200,000. Of those that sold (excluding Waterfront and Waterview listings) 81.5% were STAGED HOMES, 18.5% were non-Staged or vacant. For those that sold, Time on Market for Staged Homes was 79.5 days while non-Staged homes was 125 days. Purchase price for Staged Homes was $40,209 less than asking price while purchase price was $46,842 less than asking for non-Staged homes. The dollar value that Staging brought to these home sellers was $6,633 in the sale price of their home and 45.5 less days on market. Sample locations were West Seattle, East Side/South, Mercer Island, Bellevue-East of 405, Bellevue-West of 405, Kirkland/Bridle Trails, Queen Anne/Magnolia, North Seattle, and Ballard/Greenlake. All data provided by Northwest Multiple Listing Service and based on online photos. Now, what I’d really like to know is how many houses were there on the market during that period of time? Not just how many of the sold units, but to compare that to all of the properties available. Now THAT would be some awesome numbers to show although this is mighty powerful information for sellers to consider since you want to be in that top 80-ish percent of sold and for higher prices than your competitors.

For agents, like me and my team, who have been doing this kind of servicing since DAY 1 with our Concierge Services we are pleased to see someone provide hard evidence of the value that this kind of service provides. If you are considering selling your home, we’d love to be able to show you the difference that our staging provides!

Anyone else have thoughts they’d like to share on staging? Please feel free to comment! What did or did not work for you?

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Your opportunity to help shape the City of Seattle Council’s 2009 agenda

Posted on January 7, 2009 by Reba Haas

City Council Presents its
2009 Priorities and 2008 Progress Report
for the City of Seattle

	When:	Monday, January 12, 2009 2:00 p.m.
	Where:	Seattle City Hall 600 Fourth Avenue Council Chambers, 2nd Floor
	Why:	The Council is announcing its priorities early to give citizens an opportunity to hear and provide comment on the Council’s legislative direction
	Contact:	Kimberly Reason, Council Communications (206) 684-8159 or kimberly.reason@seattle.gov

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RHA offers another great class for landlords in Seattle

Posted on January 7, 2009 by Reba Haas

Seattle Landlord Tenant Law: Thursday. Jan. 8th, 3 – 6 PM Speaker: Chris Benis, Real Estate Attorney and RHA Legal Counsel
Time: 3:00pm-6:00pm
Location: RHA Conference Room, 529 Warren Ave N, Seattle WA 98109
Cost: $45 for members without clock hours
$60 for members with clock hours
-SPACE IS LIMITED PLEASE REGISTER EARLY-
Please RSVP before January 7, 2009. The landlord tenant laws of Seattle are unique and not always intuitive. In this class, we focus on everything that a Seattle landlord must know to comply with the City’s laws. Special attention is paid to the Just Cause Eviction Ordinance, Landlord Prohibited Acts Ordinance, Rental Agreement Regulation Ordinance, and Tenant Relocation Assistance Ordinance.

Click Here to Register for this class online Other Events:
South Sound Members Meet-up, Tacoma: Tuesday Jan. 13, 5:30 PM
King County Members Meet-up, Seattle: Friday Jan. 9, 8:30 AM
RHA’s Investment Club, Seattle: Jan. 20, 7 PM

Legislative Day, Olympia, Thurs. Jan. 29, All Day, + Evening reception

Reba commentary – if you own a property in the Seattle area this class will be important for you to attend to learn more about the very restrictive and required laws that you must follow as a landlord. These impact condos, townhomes and single family homes just as much as multifamily properties. There are no exemptions. Chris Benis is a well known and respected attorney who has been speaking and writing on these issues for many years and he’s got the practical background for the topics that will be covered in this class. I highly recommend it – especially if you’re self-managing property. Non-RHA members are welcome, but this class will help show you the value of being involved in an organization like this one. You can learn more about RHA at this link.

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Snow brings showings and new listings to a near standstill

Posted on December 27, 2008 by Reba Haas

We’ve had a few new listings come on in December and prior to the “big snow” we were getting activity for showings. It seems practically no one is out looking at homes while the weather has been so bad. I don’t blame them, I’ve been cooped up inside quite a bit myself this past week and a half but thankfully a fair amount of my job can be done over the phone and online. But, showing homes is not something you can do virtually, even with all the best photos and tours available.

Since December 16th the local real estate market input has taken a big dive in terms of the number of listings coming on market, we’ve been averaging about 500 a day for several months now and the past week has been under 200 per day. Price drops have been still outpacing new listings but even those are down. It’s not uncommon though for things to quiet down this time of year as many agents choose to slow their practice, partly due to friends and family commitments. But, I’ll say that the snow has definitely put a damper on any real estate business going on.

What’s been your experience?

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Team Reba Real Estate

Seattle real estate and related wealth management topics

Category Archives: West Seattle

Open House 12-2pm Sunday, 4/26, at Beach Drive listing

Team Reba REO Squad coming to local neighborhoods soon

JUMBO loans seem to be splitting lenders focus in 2009 market

Need a copy of an oil tank decommissioning report?

Burn ban expanded to King, Snohomish, and Kitsap Counties

Hubba hubba for Ama Ama

In today’s more competitive selling environment, does it make sense to stage?

Your opportunity to help shape the City of Seattle Council’s 2009 agenda

RHA offers another great class for landlords in Seattle

Snow brings showings and new listings to a near standstill