Friday, February 20, 2009

"Let's Make a Deal"

I had an interesting call from another real estate agent yesterday. Although I don’t specifically recall her name, I do recall that she asked if a new listing I have in the town of Fircrest was still available. “Of course,” was my response and I asked “how can I help you?”

She indicated that she was working with a group of investors and, before pursuing the home any further, she wanted to check to see if my seller would consider their offer.

Going further, she stipulated that her investors’ offer would not include any contingencies. Furthermore, their cash offer would be at 65% of value less the cost of any needed repairs or modifications.

Of course my reaction was, “No, I don’t think that would work for my sellers.” Nonetheless, it is important to recognize that there are many types of investor type buyers hoping to “let’s make a deal.” With real estate, where it has always been “Buyer Beware,” perhaps it’s time for the saying to include, “Seller Beware.”

Of course, this is another time where those homeowners hoping to sell their property need to have the best Realtor working for them. Please also know that not all real estate agents are Realtors. There is a distinction.

Very briefly, a Realtor, by virtue of ones membership in the National Association of Realtors, has ascribed to a higher set of standards than nonmember agents. Firms like Windermere require all of their agents to be Realtor members. In order to hold down costs, many smaller firms do not make the same requirement. By a natural extension, “Seller Beware” should also include the agent or Realtor selected to assist them.

For the record, I am a professional Realtor and I’ve included the description “Real Property Specialist & Consultant / Associate Broker” as a further distinction my qualifications and the work that I do.

Wednesday, February 18, 2009

Brief Real Estate Market Stats for Wednesday Feb. 18, 2009

Pierce County, Washington

Single family residential (SFR) active listing and pending sales were up slightly from last week. The medium sale price of the unsold listings remained virtually unchanged. For the period ending 02/11/09, the medium price of sold listings was down 8.65% as compared to the same period last year. Please note that, due to late reporting of closed sales, the medium sale price of closed sales is usually a week behind.

Another interesting note is new SFR construction in Pierce County, homes built in 2008 and 2009, represents 16.2% of the active unsold listings and 13.5% of the listings with pending sales.

Whereas active condominium listings were up slightly and pending condominium sales were down slightly from last week. For the period ending 02/11/09, the medium price of sold condominium listings was up 15.5% as compared to the same period last year. We have seen positive increases in the medium sale price of condominiums, as compared to the previous year, since the first of the year. However, it’s still too early to speculate that the condo market has bottomed yet.

In contrast, new condo construction in Pierce County, units built in 2008 and 2009, represents 23.5% of the active unsold listings and 19.4% of the listings with pending sales.

Thurston County, Washington

New construction in Thurston County, homes built in 2008 and 2009, represents 28.3% of the active unsold listings and 29.0% of the listings with pending sales.

King County, Washington

In King County, new SFR construction, homes built in 2008 and 2009, represents 21.0% of the active unsold listings and 48.5% of the listings with pending sales.

Wednesday, February 4, 2009

Affordable Rambler

What could be better than a Rambler in UP's Park Royal; located in the prestigious University Place School District. Situated among newer more expensive homes, this property offers great living areas w/1 gas FP & 1 wood burning FP, spacious formal living areas, efficient kitchen w/built-in booth seating, family room, 3 large bedrooms & 2 baths. A monkey & a gingko tree greet visitors in the front yard. The back patio is an enclosed solarium & there is a full functioning backyard greenhouse and shed. The yard is partially fenced. You can view a complete photo gallery of this property at http://windermere.com/tid244236. Additional information can also be obtained on my personal website at KenThiemann.mywindermere.com.

Private Fox Island Retreat

This cottage is both charming and historical. Originally the site of one of the first schools on Fox Island, much of its original styling and design has been retained, yet it has been modernized to remain functional. The bell in the belfry can still be rung from the living room. The main home is bright and cheerful and features two bedrooms and one bath. The adjoining guest quarters has a 3/4 bath, sleeping loft and large multi-purpose room. Also, being on two plus acres makes the property large enough for potential expansion or renovation. The waterfront dock is shared with the neighbor. You can see a virtual tour of this property at http://www.windermere.com/tid222... Additional information about me and my listings is available at http://kenthiemann.mywindermere.com/.

Airpark Beauty Reduced $320,000

Situated just SE of Seattle, Washington, this immaculate & well-designed property features a four bedroom, den, four bath residence with great living and entertaining space; multiple outdoor patios; a picturesque view of Mt. Rainier; and a detached airplane hangar with an oversized RV garage, multi-purpose office and a two bedroom rental or guest quarters. With substantial down payment, owner will consider a private contract. Please view it at http://www.postlets.com/res/1038529 or visit my website at http://kenthiemann.mywindermere.com/.