bellingham buyers agent

Seattle Japanese Gardens 50th Anniversary

The Japanese Garden in the Arboretum is about to end its winter hiatus, reopening on Sunday, February 14, for its 50th Anniversary season. Rated by a garden journal as one of the ten favorite Japanese gardens in the country, Seattle’s Japanese Garden was inaugurated in July 1960, after only four months of construction. It’s now ready to celebrate a half century of giving pleasure to visitors seeking sanctuary and a connection to nature.

The concept of adding a Japanese Garden to the Arboretum goes back to 1937, but it took another twenty years for the idea to gain enough popular support to enable fundraising to begin for the project (a war against Japan had intervened). In 1959, with funds in hand and the design completed, Juki Iida and Nobumasa Kitamura were hired to build the garden, which originally was scheduled to take up to three years to complete. Using heavy construction equipment, a somewhat scaled-back design, and a capable crew of mostly Japanese-American gardeners, the builders transformed an Arboretum ravine into a colorful and tranquil garden, offset by boulders, water features and formal elements. And they did it all in record time. (That’s Juki Iida in the photo below, standing on the site during the construction). Click here to read more.

Thanks to Bryan Tagas at Madison Park Blogger for letting me re-post this great article!

Thanks for reading! For more information on the Madison Park area and Madison Park real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!

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The Bed Bugs are Biting in Seattle

It seems fitting to be writing this the day before Halloween, given the cringe-inducing nature of this topic.  However, I feel compelled to write about this as a Public Service Announcement.

Bed bugs, like the ones your Mom used to warn you against, are becoming a serious nuisance in metropolitan areas like Seattle. They first came to my attention a couple of months ago, and my initial reaction was something along the lines of a guffaw. “What’s next?”, I laughed, “an invasion of unicorns?”  Sadly, and disturbingly, bed bugs are real, and they are nasty little bastards.

Essentially, bed bugs are like fleas that drink the blood of humans, as opposed to animals. They tend to live in your mattress and like to crawl onto their “host” in the hours just before dawn. Their bites leave pink or reddish welts, similar to mosquitoes or small spiders.  Often, small bloodstains will be visible on the sheets or mattress which, along with their tiny egg sacks, are usually the only evidence to be found during the day without a thorough inspection.

(Ed. note…. I wish I could take my laptop in the shower…just writing about this gives me the heebie-jeebies…)

Bed bugs are highly contagious. They hop onto your clothes while you sleep. They can then be carried around the house, or dropped into a suitcase, if you happen to be traveling. It is widely believed that bed bugs are spread primarily by travelers who pick them up or leave them behind in hotels, which explains why most bed bug outbreaks occur in large cities.  According to several pest control experts I’ve spoken with, the number of bed bug related service calls has increased 10 times in the past 2-3 years. Bed bugs calls are quickly becoming the majority of the business for many companies like Eden and Orkin.

(ed. note… after finally stuffing myself into my haz-mat suit, the heebies are subsiding… the jeebies, not so much…)

What can you do about it? CALL A PROFESSIONAL IMMEDIATELY!  I recently worked with Eden to treat a bed bug infestation in an apartment building owned by one of my clients.  They were fantastic. And green. They use a cedar-oil-based product that kills the bugs and smells like the hamster cage I had when I was a kid.  For details on the treatment process and preventive measures, click here to read and download Eden’s Bed Bug Response Plan.

It is important to get the word out before this becomes a full-scale epidemic. If you have any questions about bed bugs, or think you might have them in your home, I highly recommend Mike Cluett at Eden Advanced Pest Technologies.  He’ll answer your questions and, if necessary, do an inspection, free of charge. On the day of the scheduled treatment, he spent an hour or two explaining the procedures and details to me, off the clock. Additionally, he is qualified to handle just about any kind of pest issue, from rats to bugs to invasive plants. His contact info is:

Mike Cluett  206.510.6285  mike@edenpest.com

bellingham buyers agent

5 Reasons Buyers Fail With Fixers

These days, it is all too easy for  inexperienced buyers to become obsessed with getting the “best deal”.   I’m talking about  the “weekend warrior” buyer- the one who watches countless hours of HGTV shows that make it seem plausible that someone could seek out, purchase, remodel and flip a home for 25% profit in 30 minutes, or less. The “Hey, I bet I could do that, too!” type of buyer…

There are lots of ways to cut costs when house-hunting. Buying fixers, frontier homes or former meth-labs has always been popular for those hoping to save money, and these days, short-sales and foreclosed (REO) homes are whetting the appetites of aspiring “investors” all across the country.  Certainly, there are good deals out there to be found, and there are smart ways a savvy buyer can save money. The seemingly-endless series of books, seminars, and TV shows based on that premise can attest to that.  However, in my experience as a real estate professional I have witnessed, first-hand, more than a few common mistakes that I think are worth pointing out. This is for those buyers AND their agents, to whom they should be paying more attention!

#1   You don’t actually know how to fix stuff:

Do you know how to re-wire a circuit breaker? Have you actually done it, or just seen it on TV?  If water starts shooting across the floor after you smash the old toilet with a sledgehammer, do you know how to turn it off? Do you know how to pull up the carpet and lay down that fancy tile flooring your wife picked out at Home Depot last weekend? No? Then…

#2  You don’t have the money to get things fixed:

You don’t have to be a handy-man to buy a fixer. However, you definitely need deep pockets with plenty of cash in them. Fixing up a house can cost a lot of money. I mean a LOT of money. Do you know how much a toilet costs? How about a window…or a new heating system? Do you know how much it costs to pay the people who do know how to do that stuff? I’ve met electricians who charged by the second,  roofers that actually preferred to be paid in kidneys, and  plumbers whose invoices technically qualified as Crimes Against Humanity…

#3  You don’t have the time to get things fixed:

So, let’s say you have the knowledge, the money, or some combination thereof that you determine will make this a workable scenario. Do you have the time?  I was talking with a friend of mine recently about this. He’s a professional home inspector, so he definitely has the knowledge and the money required. However, he was complaining about how he’d been working on a bathroom remodel for an entire year. A YEAR!  His intentions were pure and his plan was solid…but time just kept getting away from him.  Think about that for a minute.  A whole year of planning, anxiety, struggling to find the time…NOT being able to use the bathroom… Now think about trying to fix up a whole house.  Make no mistake, any rehab project is a serious time-suck, but a whole house is a full-time job, and then some!

#4  You can’t get the bank to actually give you the loan:

These days, banks are getting increasingly antsy about loans, especially for fixers. Remember, the house has to appraise for the amount you’re paying for it, or at  least the amount you’re financing.  If the house is falling apart, the appraisal will reflect that. If the bank determines that the house is a potential liability, you’d better be prepared to provide solid answers to the above questions. If you can’t, the bank is likely to reject your application on the grounds that you’ll be too likely to get in there and find yourself over your head.  The last thing they want is to encourage somebody to default on a loan because they end up overwhelmed by the staggering realities of fixing up a crack-house.

#5  Your work  prices you above the market:

If you think you can manage the cost, effort, and time required for repairs, be careful not to price your new Valhalla out of the local market! Some clients of mine bought a house in Seattle back in early 2005. It was a nice, older home, in a pretty good area. They spent the next 6 months transforming it into a modern masterpiece, replete with stainless appliances, additional bedrooms and bathrooms, heated floors and dormer windows in the master bedroom.  They’d turned a $400k house into a $750k house. The problem was that the home was on a busy street, and the surrounding homes topped out in the mid-$600 range.  This home, in any number of other locations, could easily have sold for the $750 they wanted…but the present location brought the value down. They ended up selling it after several months for much less than their original asking price, simply because they had spent too much money in the first place. A couple of years later, I later sold a similar fixer just a few blocks up the same street. Having seen this movie before, I went out of my way to warn my client about the dangers of pricing herself out of the market by over-doing the remodel. However, she knew a lot more than I did about flipping houses in Seattle. She was from the East Coast, after all. Yada-yada-yada…same beer, different bar. She lost money…

Thanks for reading! For more information on the Seattle area and Seattle real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!

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What is the $8000 Tax Credit?

My two cents:

The tax credit has it’s pros, cons, and far-reaching economic consequences that are unknown and hotly contested. However, there is little doubt that it is of great benefit to the individual buyers to whom it is offered.  My #1 job as a Realtor is representing prospective buyers and getting them into homes they will be happy with. I don’t get involved in their finances, except to the extent that I need to in order to help them through the transaction. However, it is tremendously important to me to make sure that buyers are as educated as possible before they begin the process.

Thanks for reading… Questions? Call me at 206.883.6668.

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Rob LeRoy’s Guide to Ballard Bars

Recently,  I was wandering the Ballard Sunday market with my friend Alan. We were taking pictures of Old Ballard and reminiscing about the many great times we’ d had there over the years. While wandering down Ballard Ave. ( which is blocked off during the market) we saw a pair of boots nailed to a phone pole.  As I paused to take a picture, a family walked past. I overheard their young son inquire of his father, “Daddy, why are there shoes stuck to that pole?” The answer, which became an instant catch-phrase, was, “because it’s Ballard.”    After pausing for a brief moment to reflect on the  simple perfection of that statement I yelled back, “That is a great answer!”

Having spent several years living in and around Ballard, I am excited to present my favorite Seattle neighborhood to the world, in all of it’s funky, unique and beautiful glory.  Why, because it’s Ballard.

Ballard bars offer some of the most lively and diverse nightlife in all of Seattle.  A night out in Ballard can easily turn into a weekend, a week…or a month. There is that much going on.  As a nightlife connoisseur, I have come to love the unparalleled diversity that Ballard, and in particular Old Ballard, has to offer.  Reminiscent of the famous 6th street in Austin, Texas, the motivated explorer can wander through Ballard and find tastes to suit every palate, from raucous rockabilly taverns to swanky, modern lounges. There are late-night pizza joints, Irish pubs and not-quite-pretentious wine bars. These are my favorites…in no particular order…

1.  The Matador: Known for it’s ridiculously awesome happy-hour food menu, the Matador is one of Seattle’s pre-eminent boutique chains. The decor is southwestern classy, with high-backed booths and an elaborate fireplace centerpiece. Dos Equis Amber on tap and cadillac margaritas are my favorites.

2. The Sunset tavern: The quintessential dive bar (in the best possible sense), the Sunset has nightly live music performed by up-and-coming local bands, cheap beer and a vibe that says, “we’ve been here forever, we know we’re awesome, and we don’t care what you think!”

3.  Hazlewood: Rumored to be owned, at least in part, by one of Seattle’s most luminary musical figures, Hazlewood occupies a narrow loft space with dim lighting, artsy decor and excellent cocktails. The upstairs has comfy seating in a tight cozy space that almost forces you to mingle with the other hipsters who’ve been lucky enough to find their way up there. The lights have a soft vibe that makes you feel like you’ve spent some of your happiest nights in their glow. Don’t forget to check the peephole above the couch in the back of the upstairs area… Hazlewood is located next door to Snoose Junction, which has awesome pizza, late into the night.

4.  King’s Hardware: Located toward the southeast end of Ballard Ave., King’s is located in…wait for it… an old hardware store. King’s has, in my opinion, the best outdoor drinking area in Ballard. There’s a huge deck out back with it’s own bar. Inside, King’s looks the way a really cool bar in Montana would look if it was full of Rainier swilling Seattleites. There are animal heads adorning the walls and Skee-ball in the back… it feels like a redneck vacation hideaway, but in a cool way that doesn’t actually involve killing anything. Also, they have some of the best burgers in Seattle.

5.  The Tractor Tavern: The home of Ballard’s best live music, famous across the far reaches of the hipster galaxy, The Tractor is old, wooden, and utterly awesome. Inside it’s worn and faded doorway, you will find a warm, happy place featuring tall-boys of Rainier, bathrooms about which your mother would complain, and a guarantee of excellent live tunes.

6.  The Lock & Keel: Situated across the street from the Tractor, the Lock & Keel has the unique distinction of being the first pub I ever visited in Old Ballard. With long tables, cheap pool, and a wide range of beers on tap, this is a great place to take a large group of drinking buddies.  I like to go there immediately before and after shows at the Tractor.

7. Conor Byrne: One of Ballard’s two Irish pubs, Conor Byrne rounds out the trifecta at the corner of Ballard Ave. and 20th Ave. NW, next door to the Lock & Keel and across the street from the Tractor. Conor Byrne features a dark, cozy atmosphere, replete with Irish beers and live Irish music.  The crowd here is usually lively, and the cover is reasonable. M0re than almost any other place in Seattle, this is a where I commonly run into old friends I haven’t seen since who-knows-when. That, in itself, is a great reason to show up…

8.  The Loft: One of Old Ballard’s newest bars, The Loft has endeared itself to me greatly. The feel is difficult to describe. It is everything Ballard stands for.  A perfect blend of the best of the old, and the best of the new. Located in one of Ballard’s oldest buildings, The Loft features great beers (extra-large glasses of Oly!), great food and that ultra-cool brick construction that gives Old Ballard it’s real character. Known for it’s crowds of football and soccer fans, as well as it’s upstairs that caters to private parties, The Loft is a perfect example of the way Ballard is creating a hybrid of classic and modern.

9.  The Old Pequliar: The other of Ballard’s Irish pubs, The Old Pequliar is one of the larger venues in the area. Located on Market Street a few blocks east of “Old Ballard” the Old Peq has two pool tables, a rarity in the area. They also feature live music and an outdoor drinking area. The crimson exterior grabs the eye and attracts the liver.  It’s location makes it perfect for the adventurous pub crawler to hit on either the attack or retreat from Old Ballard. Or both, if you know what you’re doing. Also, the relatively large size makes this a preferred venue for St. Patrick’s day, though it is still advised that you get there early.  February 23rd has worked quite well for me….

10.  The Copper Gate: One of Ballard’s most unique establishments, the Copper Gate features Scandinavian brews and cuisine. The bar itself is fashioned from on old wooden ship, and the floor is tiled in white. The walls and shelves are adorned with early 20th century “self-help” contraptions and black-and-white “artsy” pictures… I wouldn’t suggest taking your kids here, lest they be irrevocably scarred by the sight of devices and pictures your great-grandparents might have gasped at. Then again…it’s a bar. Delight your senses in the exotic Scandinavian and European beer selection, most of which you’ve never heard of.  Don’t be shocked by the $12 bottle of beer. Trust me, it’s worth it…and you won’t remember the cost anyway…

That’s it….for now. There are several great Ballard bars that did not make this list that are definitely worth checking out. I will update this post periodically as new reviews are written and new watering holes are added to Ballard’s growing landscape.

Thanks for reading! For more information on the Ballard area and Ballard real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!

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The Truth about Appraisals

Just about everybody has heard of an appraisal and knows what it is- an assessment of a home’s value based on empirical evidence like recent sales, replacement costs, and the subjective opinions of underpaid appraisers hurrying from one gig to the next.  What many Buyers don’t know is that, even though they get to pay for it,  the appraisal isn’t for them, it’s for their bank.  While it’s true that the bank wants you to know you’re getting your money’s worth, they are really much more concerned about whether they are getting their money’s worth.  See, most of the time, banks are the ones who are really buying the home, even though you get to have your name on the title.

The true purpose of the appraisal is to assess the dollar-figure at which the bank could reasonably expect to sell your house in the event of a foreclosure.  They have to take the worst-case scenario into account to make sure they don’t get stuck losing any of their money if they have to take your house back.  This makes the appraisal a tricky piece of the buying process, because banks won’t lend you more than the amount of the appraised value. That means that if your appraisal comes back lower than the agreed-upon purchase price, you’ll end up having to cover the difference or re-negotiate with the Seller, either of which could potentially cause the deal to fall apart. Appraisals are especially critical and unpredictable these days, with regulations on appraisers and loans tightening daily as a result of the loose standards of the past several years that contributed significantly to the recent market slump. It is no longer a foregone conclusion that the appraisal amount will be high enough to cover the spread.

I am not suggesting  that appraisals aren’t accurate or useful. They most certainly have their value.   I just think it’s important to let Buyers know up front what some of the potential hurdles and complications might be. That way, there won’t be quite so much flop sweat to clean up the week before closing when we all huddle together gnawing our collective fingernails, waiting to find out if the appraiser’s thumb will point up….or down.

Thanks for reading! For more information on the Seattkle area and Seattle real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!

bellingham buyers agent

Top 10 Reasons Your House Isn’t Selling (Part 1)

Unless you’ve been living in a cave, you know that the past 18 months have seen record numbers of homes hit the Seattle real estate market.  And not just Seattle’s market, but all markets across the country. The combination of panic, desperation and fear has caused “For Sale” signs to spring up faster than Rush Limbaugh’s assistant when somebody yells “free cake”.  The good news is that the tide seems to be turning toward a more balanced and stable market. However, that isn’t really all that reassuring if you’ve been watching your house sit on the market for 6 months and your agent keeps pestering you to drop the price.  There are lots of reasons why your house could be getting the cold shoulder. Some of the usual suspects:

1. Your house is over priced. Duh! That’s always the first thing anybody will tell you, especially your agent! And while that may be true, it could also be-

2. Your house is ugly. Sorry… but houses aren’t people, and looks do matter. I don’t care how much personality or sense of humor it has- if your house is bright pink with wood paneling and tortoise-shell mirrors, I’m not calling again!

3. Your house is viewable by “appointment only” because you have sensitive pets…and 12 kids…and visiting relatives. Hey, do you want to sell the house or not?!  Nobody’s gonna buy it if they can’t even get in to see it.  Make it easier for people to get in there.

4. Your house smells like 1933. Again, sorry, but if your house smells like dust, mold or the recently deceased, and the walls are the color of Austin Powers’ teeth, it’s time to make some changes.  Try some new paint and re-carpeting. You’d be surprised at what a difference that makes for a minimal expense. It doesn’t even need to be nice carpet- the buyer will probably just tear it out and refinish the hardwood floors somebody decided to cover up in the early 60’s for god-knows-what reason. The point is, it won’t smell like FDR’s inaugural bathrobe anymore.

5. Your house smells like cats. Litter-boxes are very much like screaming children: if you have them, it doesn’t take long before you figure out how to pretend they aren’t there.  However, other people don’t have that luxury. Other people can still hear and smell… Imagine you’re out at a restaurant and I’m at the next table over from you. Although you are evidently oblivious to it, I CAN hear your kids screaming and whining, no matter HOW good you’ve gotten at hiding inside your parental isolation bubble. The same is true when it comes to the stench emanating from that cat-toilet you keep in your bedroom. Look, I’m not going to judge you for letting an animal repeatedly relieve itself five feet from where you sleep. To each their own, as they say…But come on, it stinks…and I don’t want a house that smells like that, and neither do my clients. End of story.

6. You have a collection of life-sized circus animals on display throughout your yard.  I have actually seen this… Hey, I get it…the grandkids love the zoo and you thought it’d be super-cute to create a happy place for them to visit.  Well that all changed when you decided to put your house on the market. It’s not about the grandkids, anymore. Now your house is reduced to a punchline for snarky blog writers, and the first reaction of visitors is snickering and laughter. Probably not the reaction you want at an open house. Lose ‘em!

Thanks for reading! For more information on the Seattle area and Seattle real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!

bellingham buyers agent

Top 10 Reasons Your House Isn’t Selling (Part 2)

7. You have WAY too many knick-knacks and personal items covering your shelves and walls.  If your house looks like an indoor flea-market, potential buyers have a hard time imagining their own crappy junk littering the house.  The same goes for pictures of your wedding, vacations or grandkids- if home shoppers feel like they’re in your house, it’s hard or them to begin to think of it as their house.  Get yourself a professional staging expert.  It is statistically proven that staged homes tend to sell faster and for more money, usually more than enough to cover the staging expense.  At the very least, do what you can to de-personalize your home. I know you have to keep living there and you want it to feel like it’s still your home. But remember, once you’ve put it on the market, it’s really somebody else’s home. You’re just waiting for them to show up.

8. Your neighbors live like extras from “Deliverance”. No matter how nice your house may be…no matter how clean the kitchen is or how fresh the paint is on the trim, if your neighbors have 3 broken down cars on their lawn, beer bottles lining the driveway, and four layers of paint in various colors peeling away from the walls, your house will not sell quickly.  If it looks like your neighbors are selling more drugs than Rite Aid, buyers will be scared away.  Maybe it’s time to have a friendly chat with them.  For instance, you could tell them about CarAngel, a charity organization that will haul away their old beaters.  Maybe you could offer to hire a couple of college kids on Craigslist to repaint their house or clean up the yard. Sure, it might be awkward, but it will probably go a long way toward getting your house sold without having to drop your price.

9. You picked the wrong listing agent. Believe it, or not, there are some not-so-good agents out there. Choosing a qualified listing agent is crucial and there is a lot more to being qualified than having the ability to stick a sign up in the yard.  Being somebody’s friend-of-a-friend or mother-in-law, or having 30 years in the business are not sufficient qualifications.  Agents with decades of experience are often less likely to be aware of the latest developments in technology, rules and regulations, or marketing strategies, all of which are essential.  Veteran agents are often a little too comfortable with their own track record and fail to remember that this business requires constant education, adjustment, and re-invention. Agents who are socially awkward, ill-prepared or under-qualified are often successful in spite of themselves, simply because they have been doing this for so long or because they happen to be related to somebody.  There are also plenty of part-time real estate agents out there who decided to get a license because they were “thinking of buying a house, anyway” or “have lots of friends and family considering the market” and thought “hey, why not?” However, real estate is NOT a part-time job. Good agents do this full-time, and then some. A great agent spends countless hours learning the market, networking, and mastering the art of negotiation, so that when they offer advice, they do so with the confidence and integrity that is only afforded through real effort and earned knowledge.  Choosing an agent for any other reason leaves you exposed to the threat that they might inadvertently sabotage your listing or your offer, either through ignorance or social ineptitude. Either way, it’s costing you money.

Thanks for reading! For more information on the Seattle area and Seattle real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!

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Top 10 Reasons Your House Isn’t Selling (Part 3)

And last, but certainly not least…

10. You’re cheap- Guess what- if you aren’t offering a competitive selling commission (aka buyer’s agent commission or SOC)  on your listing, you are doing it wrong. It is time to get serious about selling your house, and short-changing the professionals whose job it is to get it sold is a great way to shoot yourself in the foot.  This is one of the biggest (if not THE biggest) financial transactions of your life. Do you really want to trust it in the hands of someone who is willing to take a fee-cut without even negotiating?  While that last statement applies more to the listing agent, it goes both ways.  There are agents, like myself, who understand that the ethical (and common sense) approach is to show homes based upon the needs of their clients, not their personal bank accounts.  Those agents will show your house regardless of the offensive and laughable 1.5% SOC you are “offering.” Those same agents are probably smart and confident enough to remind their clients that the SOC is negotiable and that their expertise and effort deserve respectable and commensurate compensation. And then there are the rest of the agents. Here’s an example of what is probably a very common scenario.

An agent has out-of-town buyers visiting for a weekend. They have two days to find a suitable house, in order to close in time to start a new job. There is only enough time over those two days to comfortably tour 15 homes. An MLS search reveals 30 homes that more-or-less match the buyer’s needs. Let’s say 4 of those homes have reduced SOC’s, the rest have 3%, with all other factors remaining equal. Which ones do you think will get crossed off the list first?

That’s not even the worst of it. There is an unfolding trend that has become a major pet-peeve of mine. It starts with the aforementioned reduced SOC. Then there’s the price drop. As I mentioned earlier, the price drop is almost always the first thing that happens when a house isn’t selling. And that’s fine…it is usually a smart move, especially if your house has been listed for more than a few weeks, or months, these days… However, you’re making a huge mistake, in my opinion, to reduce the price before raising the SOC. Here’s a real-world example I saw earlier this week:

A home was listed for 6 weeks for $350,000 with an SOC of 2.25%, which is low by any standard. This week they dropped the asking price to $325,000. In case you don’t have a calculator handy, that’s a $25,000 drop. Want to know the difference between a 2.25% SOC and 3%? At the original asking price of $350k, that is a difference of $2625, barely more than 10% of the price drop. How does that make sense? Keep in mind here that it costs you NOTHING out of pocket to raise the commission vs. dropping the price. I understand that staging, painting and re-carpeting is expensive and requires out-of-pocket investment with no real guarantee of a return, but this costs you nothing. Instead, the person in this example just gave away $25,000 before any possible offer negotiations could begin. Why not do it the other way? I’ve seen agents offering 4% commissions, or combinations of cash bonuses to buyers and their agents. In the above scenario the owner could have raised the SOC to 4% AND offered a $10,000 buyer bonus (for paint, repairs or closing costs, etc.) and still come out $1000 ahead vs. the price drop. It won’t necessarily get your house sold, but it will probably get you a lot more attention, and you can bet it won’t be the first one crossed off the list anymore!

Thanks for reading! For more information on the Seattle area and Seattle real estate, please contact Rob LeRoy at 206.883.6668 or rob.leroy@exprealty.com, or visit his website www.TheRealEstateNovelist.com!