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By Courtney, April 29, 2008 5:57 am

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I haven’t always been one of those Realtors who is hot on new construction. The plain truth is that in a stronger Seattle real estate market new construction wasn’t always the best deal. In fact, Seattle buyers who insisted on new construction usually paid a premium for it. There simply was not much in the way of negotiation.

Good things about new construction:

1. Wonderful big open floor plans
2. New Everything – nothing to fix
3. Maintenance up front is usually cheaper because all systems are new
4. Wonderful features designed for how we live now – bigger bathrooms, etc.
5. Builders are definitely starting to lean towards energy efficiency and Built Green aspects

Less Desirable points of new construction to some buyers:

1. Bigger price tag (negotiable!!!!)
2. Small Yard or no yard in most cases
3. Inconsistent architecture when new construction is plopped down in the middle of somewhere
4. Those funny retaining ponds
5. Some cookie cutter designs at times – definitely not custom in most cases

There is a very different story in Seattle new construction and Seattle suburb new construction now. If you are a non contingent buyer (meaning the sale doesn’t depend on you selling your current home) then you are in a window of golden opportunity right now! You can negotiate on price, perks, upgrades, and bonuses – plus get your closing costs paid in most cases. In addition, I like to make sure my buyers get a refrigerator and sometimes a washer and dryer of their choice!

Seattle suburbs new construction areas that have some nice developments right now:

Lynnwood, Everett, Snohomish, Mountlake Terrace, Brier, Bothell, Redmond, Mill Creek Marysville, Lake Stevens, and Lake Forest Park

These are all in different price points – there are townhomes, too, but also larger homes. The developments I am touring have some nice features and are definitely worth a look if you are interested in Seattle suburbs new construction.

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting - I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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By Courtney, March 1, 2008 10:14 am

Seattle real estate has gotten trickier in recent months and I honestly believe that most traditional buyers need to work with a full service REALTOR.  But if you are going to go with a company like Redfin who provides a different business model in return for lower fees in the form of a rebate, please plan on shelling out the extra money and paying Redfin to be your buyer’s agent.

I should clarify right now up front that I am not attacking Redfin. I am all for free enterprise and coming up with a different business model that does suit a small minority of extremely experienced and knowledgeable buyers. These buyers don’t want or need the hand holding and constant diligence that I can offer them before, during, and after a transaction. Fine.

I am not attacking this alternative business model because simply put, they are not my competition. The fact is when I was with a larger regional company I was already the real estate agent renegade because I have always given my own clients rebates in the form of closing costs, etc. alongside my FULL SERVICE. I opened my own brokerage partially so that I could do what I wanted to do for my clients without having to ask my broker for permission. I genuinely want to help my buyers financially to ease the stress of the transaction and improve their quality of life. So - before you call me greedy, please don’t.

The point is that even though I was going to help out my buyers financially, I didn’t decide to discount my service based on this fact by sending them out to call listing agents and making these other hard working agents do my work as a Full Service buyer’s agent. To quote another saying, I just don’t believe in building my business on the backs of others. In my opinion: it is a listing agent’s job to show the listing to a potential unrepresented buyer, but it is a buyer’s agent’s job to show a represented buyer a property. This is a point that can be argued back and forth in both directions to no end, so I will gloss over it for now except for this:

There is just too much potential liability associated with dual agency to not acknowledge that buyers and sellers should be represented separately and with this separate representation comes a clear delineation of duties on each side.

So that’s my opinion on the matter and here is my problem with some of Redfin’s clients:

Although I have seen it stated very plainly in black and white that Redfin absolutely does not encourage this behavior and I applaud them for doing so, every single Redfin buyer I have run into in the last twelve months has lied their pants off to me!!! It seems that even though they discourage misrepresentations to a listing agent, by charging touring fees after the initial free ones are gone, Redfin is still encouraging their budget conscience buyers to act in some really sneaky ways that may be out of character for them normally.

Seriously, I want to sell my listings to you, Mr. Redfin Buyer, but for goodness sakes, just tell me the truth!!! I am not stupid. Please don’t use a fake name, and then when I explain that I ID new buyers for my own safety, side step and break down and tell me the truth. In addition, this couple didn’t even show up when I agreed to open the house up!!! I am not some crazy gate keeper that needs to be lied to. Please don’t call me pretending to be interested in working with me as your buyer’s agent and ask me for all my professional contacts that I have worked so hard for (inspector, appraiser, lender, etc.). Please don’t pretend that you are unrepresented when you are a Redfin buyer because just like you can smell a real estate agent a mile away, I can smell a limited service buyer even more quickly.

I have no problem with you as a limited service buyer. I really don’t! Just tell me the truth.

Be honest that you don’t want to pay the relatively small fees that Redfin charges to show homes after your initial free tours are exhausted. It really isn’t that much money relative to the rebate you can get and it is the right thing to do. Or….hire a full service Seattle REALTOR. Just my two cents.

Comments (1)

By Courtney, February 16, 2008 10:06 am

On my way to Ocean Shores, WA recently, there were still remains of dirt and debris that had washed over the highway in the big December storms….  That latest blast of weather in December 2007 got me thinking about insurance in Seattle neighborhoods and Seattle suburbs again. Flood insurance, specifically, is what I want to look at and whether or not I should purchase a flood insurance policy for my Seattle, Washington area home.

Flood insurance wasn’t actually very accessible until the late sixties when a national flood insurance program was put into place. With this program came the availability of flood insurance for anyone who needed it and lived in a community that participated in the program. In addition, regulations in the form of floodplain maps were also put into place to provide specific levels of risk for any given area.. Flood coverage is required by your lender if you live in any of these high risk areas, but is not included on the standard home owner’s policy of the majority of real estate in Seattle and its suburbs.

This is a question each homeowner in Seattle and the entire Puget Sound should ask themselves. Do you live on low ground? At the bottom of a hill? Near a waterway? How is your property drainage? These are all factors which increase your risk of water intrusion and each homeowner should take the time to consult with an insurance agent and evaluate their own risk. I live on a hill and have sufficient drainage for my property. I keep my gutters in proper working order and also regularly monitor my weatherproofing plan. I do not have flood insurance. It is important to note that if you do decide to purchase flood insurance for your Seattle property, keep in mind that there is a thirty day waiting period in most cases.

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By Courtney, February 15, 2008 1:49 pm

Seattle’s real estate market may be a bit soft right now, but the rates are incredibly low for qualified buyers and as a result the good Seattle lenders I have talked to recently are incredibly busy – and even backed up in some cases. Sure, there are going to be refinances in this mix of increased business, but the savvy Seattle buyers are out there in neighborhoods and suburbs right now trying to scoop up some deals before others realize that the market isn’t as bad as they thought! The truth is that Seattle has a booming real estate market in 2008 – it is just a very different market than we have seen in recent years. Seattle sellers, agents, and buyers need to adapt and stop looking to the media for “expert information” because the media seems to be gripping more of a doom and gloom Seattle bubble attitude. Instead, ask someone out there who is actually listing and selling houses in 2008! WAMU might be backed up because they cut their staff down to the bone, but other lenders are busy, too!

The weather is beginning to turn in Seattle – I always know when the woodpeckers start banging on my chimney to attract mates that spring is near! More and more buyers will be out as warmer days set in and with this will come some competition. Sellers should have their full service agents price their home competitively. They should pay the extra money and have an accredited Stager help them get their home ready for the market if their Realtor suggests it. Spring on its way doesn’t mean that Seattle sellers don’t need to put their best foot forward so that a buyer’s first impression is the best it can be. The 2008 Seattle market is still strong, but just trickier and it takes savvy on your agent’s part and on your part to sell your home.

Smart Seattle buyers who are out there right now: it is possible to get incredible prices, deals and bonuses from these sellers without completely low-balling them on your offer! Have your Realtor be aggressive, but write a strong offer and choose where you want to negotiate rather than beating down the offer from all directions. The window of primo opportunity is getting smaller as more buyers realize how enticing Seattle real estate is right now!

Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving Seattle neighborhoods and Seattle suburbs in both North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting - I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle neighborhoods (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Greenlake, Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park) or Seattle suburbs (Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett) or other Seattle Suburbs!

Comments (4)

By Courtney, January 26, 2008 12:34 pm

Sellers in Seattle:  Take note!

The market has changed, but you can still sell your Seattle house with good results!

Obviously the mortgage industry has played a major part in this new Seattle buyer’s market. Loan programs are stricter and as a result the pool of qualified buyers has dwindled down. Even though this means there are less buyers competing for your home, you can be sure that the buyers out there are stronger more qualified buyers! In addition, the rates are low!

Now that Seattle has found itself in a buyer’s market, many home sellers are having to adapt. In order to be competitive in Seattle’s new buyer’s market, Puget Sound sellers should have every edge possible! Here are some of the things that could help your home get noticed!

1. Hire a full service
   Seattle Realtor!!!!! This is probably one of your biggest investments – not the time to cut corners! You need the superior quality help to have the edge in this market!
   
2. Staging – I have an accredited Stager help me with my listings to make sure they are stunning when any buyer walks in. I want them to walk in and fall in love! It is amazing how dressing your home up like a Pottery Barn catalog can help to emotionally sell it!
   
3. Housekeeping/Lawn Maintenance – Hire a housekeeper and a yard maintenance team! You want your home to shine! The extra money will most likely be worth the investment.
   
4. Process – This is something I have to go through weekly in my own house. I call it processing. It is simply going through clutter and sorting it into piles – charitable contributions, trash, give away to friends, recycling, keep. It is helpful to do this regularly, but taking the time to do a big process job on your garage and closets can really pay off!
   
5. Dress Your Cabinets and Closets – Your Stager might do this, but if not, you should. Take the merchandising approach and color code your closets - hang clothing by shades of color and really make your closet look like a rack at The Gap! The same thing can be done with your kitchen cabinets - turning all the labels on the cans outward and making sure the pantry is organized and not cramped is vital.
   
6. Storage – Make the investment to store extra furniture or clothes that clog up closets and garages. Clear your kitchen counters of appliances and clutter. Your home needs to scream spaciousness and plenty of storage.
   
7. Be gone – Leave your house well before showings! You want the buyers to be able to picture themselves in your home. They can’t do this with you in it. It is also uncomfortable for buyers to be in your home with you there.
   
8. Buyer Incentives…Offer to pay closing costs or some other from of bonus to “sweeten the pot” for a buyer when they are making a purchasing decision. They have lots to choose from right now!
   
   
9. Selling Office Commission: Don’t discount it – that agent is the hero who is bringing you a qualified Seattle buyer!!! I would even consider offering an agent bonus! It might encourage them to bring even more buyers back!
   
10. Price your home right! Doing all of the above won’t matter if you don’t price your home correctly. Again, your full service Realtor is qualified to do this! Also please keep in mind that starting a bit lower could get you multiple offers even in this market. More importantly, starting lower would save you thousands and thousands in carrying costs that your home would be incurring while it sits on the market at a higher price!
    
    

Use some or all of these and look for good results! Just because it is a buyer’s market out there doesn’t mean it is a bad time to sell. Houses are still selling and in some cases with multiple competing offers. The last three deals I have done involved multiple offers and back up buyers so I know it is happening! The important part is positioning your home correctly in this market!

 Courtney Cooper ….For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent:  Broker and Realtor serving North King & South Snohomish County - Experienced and with a background in accounting - I love my clients and work hard for them! Call me if you are looking for a home or investment property in Seattle, Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!