Not your Average Open House, But one to go through

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]

 

Posted on October 23, 2015 at 10:40 am
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Buying a Home, What’s the Difference Between a Buyers Agent and a Listing Agent

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.

What’s Next?

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

Direct: 206-434-6561

Email: TomFine@windermere.com

Posted on September 13, 2015 at 5:26 pm
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I love working with my clients!

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.

Posted on January 9, 2015 at 6:05 am
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What Does Your Realtor Know?

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, tomfine@windermere.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.

Posted on January 8, 2015 at 7:12 am
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Down Payment Assistance and Closing Costs Program Available Through WSHFC

A great chance for home buyers to take advantage of a State program that provides an opportunity to get down payment assistance and closing costs at a great interest rate of 0% sand deferred up to 30 years. Don’t miss this opportunity, contact Tom to see how to take advantage today and enjoy what the state is dishing out.

Posted on September 29, 2014 at 3:12 am
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Contractor experience adds unmatched value in home-buying process

Realtors come from many different backgrounds—sales, IT, and consulting—to name a few. My experience as a former general contractor/builder is a huge advantage for my clients. Of all of the possible background for real estate sales, which experience brings the most to the client’s search, assessment, and negotiation process? I realize that I can’t be objective about this topic, but a former contractor’s knowledge of housing structure, materials, wear and tear, and renovation costs, are invaluable.  My background in construction has been a priceless bonus for all of my clients. Allow me to illustrate…

 

Imagine yourself as a homebuyer walking into a home that is for sale. As your agent, I look around and identify some things in the house that concern me; the exterior siding has moss growing on it, the railing is a little loose and penetrating the wall. I move the railing screw around and feel that the area is rotted. Then I start to wonder….what else is wrong? — is there anything else that is not taken care of by the owners? I see other items that prompt me to suggest to you that we move on and look at other houses.  If you loved the house, and all of its characteristics and layout, then I would let you know the problems that I saw.  During an intense inspection, we would see in total, all that was uncovered.

 

Scenario #2, the buyers that I represent are looking at a condo, and they love the view. I look around and make notes on my iPad. After a walk-through, I ask my clients what they think of the condo.  They like it. We look at the storage area—it smells moldy and musty. As we tour the mechanical room, we uncover a room that houses a sauna and a hot tub—both are decommissioned by the HOA (Homeowners Association.)  This is a HUGE red flag;  #1, the association has a moldy, smelling, storage area, and # 2 the hot tub and sauna are decommissioned by the HOA. This tells me that although significant dues are collected from each unit, the community facilities are not being maintained properly. What else is not being maintained? When we go outside, I see more items that concern me—the wooden soffits appear to have some deterioration issues. The exterior also needs attention, and my estimate is that this is a $250K improvement project.

 

Scenario #3, my buyers and I go to the next condo. It’s great! I mean…the view is fantastic! It has a great view of the water, but as I walk through the unit and into the hallway, I feel like a drunken sailor.  The floor in the condo is not level. After a complete tour, my opinion is that the unit is OK, but nothing to write home about…..but THE VIEW–did I mention the view?!  The place also has a pool and sauna, and is within walking distance of many local restaurants and shops. Later, I step into the hall to look for the mechanical room and meet a couple who live in the building. We talk briefly about the building, the maintenance, and some general comments they have about the place. They are very nice, and forthcoming, and I learn something about the condo board. It consists of residents that have been there for many years and they don’t like to spend money on maintenance or capital improvements, so the north side of the building is about eight years overdue for siding replacement. The decking around the pool also needs maintenance. The kind couple also inform me that one condo owner recently requested to make some changes to their unit — requiring board approval — and were turned down. What about that great view?!  A difficult HOA board is a potential deal-breaker — even if you inherit the property.

 

Scenario #4, my clients who are first-time buyers and newlyweds want to buy a rambler that just came on the market.  It is in a great part of town, and the yard is gorgeous.  I walk in and notice that the owners renovated it poorly. The floor plan was modified and it does not flow right.  In the basement, the drain/sewer was exposed and a temporary fix-it job was botched—someone tied into the wrong plumbing fittings.  What else did they do wrong? (I say to myself) I look in the attic and find evidence of a fire years ago and also find more signs of poor renovations and framing issues.  I analyze these items and feel there are too many issues to consider this house as a viable property.  My buyers really want the property, but I feel an obligation to explain all the issues that I see. Regardless, they feel that all the problems were things that they could fix. I appreciated their enthusiasm, and of course I would like to make the offer and sale, but I want to be honest with them about how much it would cost—it would take a deep pocketbook. They are so serious about the place and as much as I dislike being pessimist, I ask them to give me a few minutes to put together a rough estimate as to what it would take to do the repairs and make the place right. The total renovation and correction costs are enormous, and when I review the rough estimate with them, they realize that buying that home would be a mistake. That property sold for 10% over the listing price and I know the new buyers did not have someone with my experience in their corner.  I am sorry for them and others like them.

 

I could have sold these properties to my clients, but not with a clear conscience. I choose to create a long-term relationship with them and be the kind of agent that I would want for my own family. I can feel good about my service to clients when I work hard for their trust and confidence and provide them the information that they need. After all, it is probably the biggest ticket item they will ever purchase. Beyond making a sale, and a commission, I want to feel good about helping clients make good choices and build a solid future. Sound construction and renovation counsel is a customer-service bonus for my clients. How many real estate agents can offer this invaluable home-buyer service at no extra cost?

 

Tom Fine | Broker | Windermere Real Estate Capitol Hill

SRES and CNE Certified

Senior Real Estate Specialist and Certified Negotiation Expert

 

tomfine@windermere.comwww.finehomesnw.com

Posted on April 29, 2014 at 4:19 pm
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How long do things last in your home?

The life span of your household components

Nothing in life lasts forever – and the same can be said for your home. From the roof to the furnace, every component of your home has a life span, so it’s a good idea to know approximately how many years of service you can expect from them. This information can help when buying or selling your home, budgeting for improvements, and deciding between repairing or replacing when problems arise.

According to a National Association of Home Builders (NAHB) study, the average life expectancy of some home components has decreased over the past few decades.  (This might explain why you’re on your third washing machine while Grandma still has the same indestructible model you remember from childhood.) But the good news is the life span of many other items has actually increased in recent years.

Here’s a look at the average life spans of some common home components (courtesy of NAHB).

Appliances. Of all home components, appliances have the widest variation in life spans. These are averages for all brands and models, and may represent the point which replacing is more cost-effective than repairing. Among major appliances, gas ranges have the longest life expectancy, at about 15 years. Electric ranges, standard-size refrigerators, and clothes dryers last about 13 years, while garbage disposals grind away for about 10 years. Dishwashers, microwave ovens, and mini-refrigerators can all be expected to last about nine years. For furnaces, expect a life span of about 15 years for electric, 18 for gas, and 20 for oil-burning models. Central air-conditioning systems generally beat the heat for 10 to 15 years.

Kitchen & Bath. Countertops of wood, tile, and natural stone will last a lifetime, while cultured marble will last about 20 years. The life span of laminate countertops depends greatly on use and can be 20 years or longer. Kitchen faucets generally last about 15 years.  An enamel-coated steel sink will last five to 10 years; stainless will last at least 30 years; and slate, granite, soapstone, and copper should endure 100 years or longer. Toilets, on average, can serve at least 50 years (parts such as the flush assembly and seat will likely need replacing), and bathroom faucets tend to last about 20 years.

Flooring. Natural flooring materials provide longevity as well as beauty: Wood, marble, slate, and granite should all last 100 years or longer, and tile, 74 to 100 years. Laminate products will survive 15 to 25 years, linoleum about 25 years, and vinyl should endure for about 50 years. Carpet will last eight to 10 years on average, depending on use and maintenance.

Siding, Roofing, Windows. Brick siding normally lasts 100 years or longer, aluminum siding about 80 years, and stucco about 25 years. The life span of wood siding varies dramatically – anywhere from 10 to 100 years – depending on the climate and level of maintenance. For roofs, slate or tile will last about 50 years, wood shingles can endure 25 to 30 years, metal will last about 25 years, and asphalts got you covered for about 20 years. Unclad wood windows will last 30 years or longer, aluminum will last 15 to 20 years, and vinyl windows should keep their seals for 15 to 20 years.

Of course, none of these averages matter if you have a roof that was improperly installed or a dishwasher that was a lemon right off the assembly line. In these cases, early replacement may be the best choice. Conversely, many household components will last longer than you need them to, as we often replace fully functional items for cosmetic reasons, out of a desire for more modern features, or as a part of a quest to be more energy efficient.

Are extended warranties warranted?

Extended warranties, also known as service contracts or service agreements, are sold for all types of household items, from appliances to electronics. They cover service calls and repairs for a specified time beyond the manufacturer’s standard warranty. Essentially, warranty providers (manufacturers, retailers, and outside companies) are betting that a product will be problem-free in the first years of operation, while the consumer who purchases a warranty is betting against reliability.

Warranty providers make a lot of money on extended warranties, and Consumers Union, which publishes Consumer Reports, advises against purchasing them.  You will have to consider whether the cost is worth it to you; for some, it brings a much needed peace of mind when making such a large purchase. Also, consider if it the cost outweighs the value of the item; in some cases it may be less expensive to just replace a broken appliance than pay for insurance or a warranty.

 

Posted in Buying by Tara Sharp

Tom fine Is a Reealtor with Windermere Real Estate Capitol Hill in Seattle Washington, Helping Byers adn Sellers "Making Home Ownership Easy"  Fine Homes NW, Inc.

 

Posted on March 24, 2014 at 5:37 pm
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