My Team has compiled a weekly Real Estate Sales Report for the Neighborhoods in and around Seattle, Eastside and Waterfront, click on the drop-down menu on the top right of each page for more information. Additional information is available for local schools.
This report provides a snapshot of This Week vs. 16 Week Average
2. Pending Listings
3. Months of Inventory
Click on the area below to see the numbers:
West Seattle – under $400,000; 500's; 1-1.5 million
South Seattle – $250,000-400,000; 600,000-800,000
Central Seattle – $600's; 800,000-1 million
Queen Anne – $500,000-900,000
Ballard/Greenlake – $250,000-500,000; 600,000-1.25 million
North Seattle – $250,000-700,000
South Bellevue – $400,000-600,000
Mercer Island – $1-1.5 million
West Bellevue – $1.5-2 million
East Bellevue – $250,000-600,000; 1.25-2 million
East Lk Sammamish – under $600,000
Redmond – $250,000-700,000
Kirkland – $250,000-600,000; 700,000-1 million
Woodinville – $400's; 600's
Renton Highlands – $250,000-600,000
This is not what I do for Open Houses, It doesn't help sell it, unless it fits the right family.
Follow me to this Open House, Click Here
To see a Real Open House This Sunday on Queen Anne, Beatiful Brick Tudor inside and out, 1-4 This Sunday 10-25-15
I look forward seeing you.
Open House Sunday 1–4 Come and See Tom Fine[/caption]
Are you looking for statistics, we have them!, the Windermere Mercer Island office produces 8 market reports for anyone that loves statistics. Here is a list of all the reports to review, just click on the report that you're interested in. If you are looking for additional information contact my team to get you what you are looking for. If you are looking for update information click here
Waterfront Q3 2015 Reports:
Buying a Home: What’s the difference between a Listing Agent and a Buyers Agent and why should I care?
By law, a Designated Seller’s Agent MUST “promote the interests of the seller with the utmost good faith, loyalty and fidelity” and MUST “protect the seller’s confidences…” A smart seller will hire a good seller’s agent to work for them in this fashion – As they should.
Listing Agent, represents the sellers
Buyers agent, (Selling Agent) represents the buyers
Why should I use a buyer’s agent, (Broker)?
The seller’s agent is only looking out for the seller. Understanding this, it is important to realize that what you say and act to a seller’s agent may compromise your ability to negotiate the best deal for you. If, for example, during an open house, you casually mention to the seller’s agent that your family must be relocated by the end of the month to accommodate the start of a new job, the seller’s agent, by law, must “promote the interests of the seller” by letting the seller know about your situation. As a result, the seller is now aware that you are somewhat desperate and must move quickly, thus compromising your ability to negotiate the best deal.
How does this affect your bottom line?
Remember, the seller’s agent is “promoting the interests of the seller… and protecting the seller’s confidences…” Usually, the interests of the seller consist mainly in getting the best price for their home within a given time period. Even if the seller’s agent knows the seller has enough equity and is willing to accept $10,000 less than the asking price and, in fact, the home may not be worth what the seller is asking, the seller’s agent cannot, by law, disclose that information to you. Without a real estate professional working hard on your behalf by providing you with experienced and accurate market information, you may end up paying more than necessary to purchase that particular home.
Working with Tom Fine, a Windermere Real Estate Broker, has in-depth experience in home construction, remodeling and design, with this Tom’s knowledge helps buyers by explaining the good and bad aspects of homes. Tom looks at the construction materials, installation and finishes of these materials and he’ll explain why a home you are looking at is what you see a well built home or a band aid to mask hidden problems. Working with Tom as a buyers agent doesn’t cost you money, the buyers agent fee is paid typically from the sellers side of the transaction. So why not work with someone like Tom, with knowledge and experience to save you, time, money and energy. Contact Tom Fine, today to help Buy or Sell your home,
Tom Fine, Broker, CNE & SRES
Fine Homes NW, Inc.
Windermere Real Estate, Mercer Island
In Seattle we have had an incredible year, with a mild winter and wonderful spring, we are getting ready for a great summer. Our Seattle summers are wonderful, with a calendar full of events from the Blue Angles, Hydroplanes, and concert series in and around the city. What a great place to be during the summer. My kids and I love to go to Madison Beach and dive off the floating dive platform and watching the big barges building the new massive 520 Bridge.
This weekend I was at my Wallingford open houses this weekend we had great activity. It is a 1929 brick Tudor that was custom built. It’s on the market, for a couple days at $685K hosting 4 bedrooms and 1-1/2 baths. What is great about a home like this is it hasn’t been renovated in bad taste and they didn’t do any bad updating.. The original mahogany millwork and the tilting windows make this a classic Seattle home.
This weekend I’ll be at the Braeburn hosting an open house that is a new listing. Prices continue to increase while the market is still a sellers market. It makes sense to get into the market now instead of seating out and waiting till things slow down. When the slow down, most likely form historical data, prices will be up 7% a year.
Interest rate’s at a glance, a lot of activity, the rates went form 3.81 to 3.8 last week.
Exciting news in Seattle, the Polar Pioneer in town and all the excitement around this massive oil drilling rig. It is in town and moored at Foss’s maritime dock for modifications that will bring 400 jobs to the area and a lot of money for suppliers and parts. It’s amazing people protesting in their kayaks, at least there won’t be much violence on the water from the protestors.
Cruise ships are in town and Pike Place market is busy with lots of people. We love getting a sandwich at Three Girls Bakery and then heading down for a Priroshky for one daughter. Don’t forget to visit the bubblegum wall.
1. Not preparing to show your home in the right light. It’s critical to make sure when you are getting your home ready to sell that you put items in the right place. Don’t have too much clutter; arrange furniture so the rooms flow. If you don’t have the right furniture the best bet is to place staging in place of your furniture. Remember you are looking to get top dollar.
2.Doing a minor home improvement before selling might make sense.
If you have a ½ bath and have room to make it a ¾ bath to increase your selling price or a kitchen renovation to get more money, doesn’t that make sense? Yes! But don’t get carried away by doing too big of a renovation.
3. Not hiring an agent. So many people think they can do what an Agent/Broker can do. Are you willing to go through all the steps t get top dollar and then you don’t deal with an action in the right order or miss a timeframe that jeopardizes the deal, it’s critical that you have someone that can represent you to explain all the details. Studies have shown that hiring an Agent/Broker, you’ll get your money worth and it will eliminate a lot of headaches. Hire a professional to do a professional job.
4. Putting too high of a sale price. Wanting to get top dollar is everyone’s dream, but setting too high of a sale price can hurt in more than one way. It will keep the house on the market longer, the first two weeks is when your house sees a lot of action and people. When a house is on the market longer than a couple of weeks, then buyers believe they can get a bargain or low ball an offer. It’s key to get a BPO, (Brokers Price Opinion) this will provide an price with comps so you can make the right decision on the pricing.
5. Not hiring the right agent. You may have a friend or you see a truck that says “Use this truck for free when Moving, hire me” you get a postcard that says discounted fees or free staging. Do you want to think about discount people when selling your home? You want the right person and the one that thinks outside the box, has great opinions and options to sell your home.
6. Not exposing your home to the masses. When interviewing the agents, what is the agent going to do for marketing? Is she/he going to market to thousands of local agents, what about a Brokers open and open houses for the masses? Email marketing, Video tours on the Internet. Neighborhood mailer about the home. If the neighbors love the neighborhood, they’ll tell their friend about the great neighborhood, SOLD!
7. Putting restriction on the buyers, not letting buyers access the home. Some sellers, believe they know better than the agent, so they restrict the agent from showing the home, not allow agents market the home strategically. The right agents know how to go to market and know how to sell your home, let the professionals do their job.
8. Sellers should not be in the home while showing are happening. Several of my clients wanted to show the potential buyers their home, they felt they knew what to show buyers and they wanted to be there for the showings. This is a big No-No. Buyers and sellers should not be together, buyers want to feel free to talk about the house what they like and don’t like. They may want to do a remodel and the sellers can’t imagine why someone would want to change their home. The best scenario is to have the sellers out of the home during any showing and any open or brokers open. If they forget something, oh well they can come in after the showings. Believe you want top dollar, this will shoot them in the foot if they are there while a showing is going on.
These are the main items that can help get you on the right rack for positioning your home with the right agent, maximizing your return and getting maximum exposure. If you are in the Seattle and surrounding areas and you would like to discuss how we Tom Fine could help you, contact Tom today. Todays market is hot for sellers, positioning your home can potentially get more than market value. Have fun selling your home.
Elon Musk plans to build Hyperloop test track
SpaceX and Tesla CEO wants to speed up the development of a 800-mph tube transport — and is willing to pay for testing in Texas to make it happen.
by Nick Statt
@nickstatt January 15, 2015 1:00 PM PST
Elon Musk calls the Hyperloop a fifth mode of transportation. Using electromagnetic pulses and pressurized tubes, Hyperloop can hit high speeds.
Billionaire and entrepreneur Elon Musk is getting more hands on with the Hyperloop.
Musk, who heads up both space transportation outfit SpaceX and electric vehicle maker Tesla Motors, casually announced on Twitter Tuesday that he’s decided to help accelerate development of his vision for near-supersonic tube transportation, first outlined in August 2013.
Musk said he will build a five-mile test track for the still-theoretical system for students and companies to use. A possible location would be Texas, he added, where presumably there is plenty of flat land to go around.
Will be building a Hyperloop test track for companies and student teams to test out their pods. Most likely in Texas.
— Elon Musk (@elonmusk) January 15, 2015
Musk originally floated the idea of the Hyperloop with help from fellow SpaceX and Tesla engineers, releasing their collective work in a 57-page concept paper that generated headlines worldwide. Until today, Musk has been notably hands-off about the project and has said it remains an open source and collaborative process. SpaceX declined to comment further on Musk’s plans or whether the test track will involve additional collaboration from members of his two companies.
Musk is known for dropping bombshell announcements on his personal Twitter account, like when a rocket from his space transportation outfit SpaceX exploded mid-flight because “rockets are tricky” or how he thinks artificial intelligence may be more dangerous thannukes.
Though Musk speaks of the Hyperloop with similar nonchalance, the idea could revolutionize land transportation. It’s simpler than it sounds. A Hyperloop would work similarly to an air hockey table, but instead of floating on a cushion of air, solar-powered electromagnetic pulses would propel pressurized cabins inside elevated tubes. T
Theoretically, the resulting system could reach speeds approaching 800 mph, faster than the speed of sound, through tubes held up by pylons placed between strategic cities like San Francisco and Los Angeles. The system still needs years of testing, and as much as $10 billion to create even just one 400-mile stretch.
Yet Musk’s willingness to get involved after almost a year and a half of silence on the subject shows he’s serious about the idea and will, as he has with his other ventures, spend some of his own money to get it off the ground.
Hyperloop Transportation Technologies, a collection of crowdsourced engineers working on the system, is already underway working out routes around the country.
Musk is known for taking risks and transforming industries. He did it with mobile payments and PayPal during the first dot-com era — then again with electric vehicles and private spaceflight.
Critics, including members of the US High Speed Rail Association, say high speed rail is a more-viable option. High-speed rail is widely used throughout Asia and the state of California this month broke ground for its high-speed rail system costing $70 billion. Musk has criticized the project’s high costs and sees the Hyperloop as leapfrogging the technology.
Musk isn’t alone in trying to make the idea a reality. A group of entrepreneurs and scientists have banded together to create Hyperloop Transportation Technologies. Put together first on a crowdfunding platform called JumpStartFund, it’s a loose collective of around 100 engineers, unaffiliated with Musk, who exchange free time for potential equity. Each works in small teams focused on specific interests, such as designing passenger pods and propulsion prototypes.
Hyperloop Transportation Technologies has also partnered with UCLA’s SUPRASTUDIO design and architecture program to design capsules and stations, as well as work out prospective routes around the country that could be potentially be linked into a nationwide Hyperloop network.
JumpStartFund did not comment on Musk’s plans, but CEO Dirk Ahlborn said the company will know soon where a finalized test site will be located.
November 5, 2014
To Whom it May Concern:
Tom Fine was our buyer’s agent for our recent home purchase in Green Lake, Seattle. We have decided to pen an unsolicited testimonial to his services.
Our family recently relocated from Australia to Seattle and decided to purchase a home. Luckily for us, we found Tom. Tom was able to explain the real estate market and buying and selling process in Seattle (which differs greatly from what we were used to in Australia). He was tireless in identifying properties that met our criteria and spent countless hours on the road with us explaining the positives and negatives of different localities, housing and building styles while viewing ‘open homes’. He was very flexible and understanding in his approach and his availability.
Tom’s knowledge gained as a building contractor was invaluable. He was able to walk through houses with us explaining potential benefits or pitfalls of the construction, layout, style, materials used and potential areas for improvement or maintenance. Several times he drew our attention to problems with construction that we would not otherwise have noticed.
In the end we found a house we wanted to make an offer for and Tom was able to calmly handle negotiations, helping to secure the house below the asking price in a highly competitive real estate market. He kept us in the loop every step of the way.
Subsequent to closing on the house, Tom has been happy to provide advice and expertise in relation to our plans to improve the property.
We’ve been impressed with Tom and would wholeheartedly recommend his services to others looking to buy or sell a home in Seattle.
Mark and Caroline Gordon
Green Lake, Seattle.
When I go to purchase items whether it is a small item or large, I look to the salesperson to be knowledgeable about what they are selling, don’t you? So I turn the tables and say here are some questions to ask your Realtor.
What should you expect out of a Realtor?
Let’s discuss the knowledge items.
Your Realtor should have knowledge of the following:
➢ Of the area you are showing with information of schools, parks, and the neighborhood and surrounding neighborhoods
➢ About the structure, basic information, what kind of construction is the structure (Just because I know a lot about this subject I didn’t put this in here, but I expect a salesperson to know what they are selling at least the basic information)
➢ Thoroughly describe the features and benefits of the property
➢ Ability to inform the clients about the forms they are signing and the ability to get them any answer relating to the transaction
➢ Communicate consistently with all parties about updates, changes or modifications of the terms, contracts and schedules, not through text, but phone and email
➢ Ability to discuss the handling of earnest money
➢ What Escrow and Title is and why they are important
➢ Ability to negotiate for the best terms for their clients, know when to talk and when to walk
➢ Follow through, continuation of communicating about the status of the process
➢ Be able to provide their clients with CMA’s (Comparative Market Analysis) for price points of the house whether they are selling or buying, so the clients know what your house value is
➢ Knowing how to maximize your return on investment, preparing your property for sale
➢ Lowering his/her commission will not make the property sell faster, (A realtor should be able to respond to this question, why won’t my property sell faster with a lower commission, *larger dollar sales do have a lower commission structure)
➢ Realtor (Selling) provides you with preliminary costs to sell your home with several scenario’s for different selling prices
➢ Realtor (Buying) provides you closing cost scenario’s, (what it will cost you to purchase a home)
➢ Realtor provides you what the process is for selling or buying and what to expect from the beginning to the end
The items I have pointed out above are key reasons to use a Realtor; another key item is the Code of Ethics that Realtor’s commit to, to be a Realtor. Please note that if you have a license to sell real estate, this does not mean they are a Realtor.
To discuss how I can be of any assistance to you whether you are interested in buying or selling, please contact me, Tom Fine, Broker – Windermere Real Estate, email@example.com or call me at 206-434-6561 and I will be glad to help you with your real estate needs. I work with individuals, couples or groups to buy and sell real estate in the state of Washington, from single-family homes, raw land, multifamily properties and investment properties.