Things are looking up for King County. The average median price is looking better. With interest rates low and inventory up, there has never been a better time to buy a home since the early 1970's. As some in the industy are saying, "it is the opportuinty of this generation".
Part of being a great real estate broker is knowing about the hole in the wall places to bring clients that lets them know that you know the neighborhood. A great little place is Barney's Pastrami. It is located at:
Barney's Pastrami
5130 Evergreen Way # 103, Everett, WA 98203
Dave the owner will hook you up with the best sandwich in the northwest. Enjoy!
I met with the Wells Fargo wholesale mortgage rep today and there were a few things that I thought I would (should) share with the real estate community. For those that do not know the Seattle area very well there are three main counties. Pierce County is to the south of Seattle and the big city is Tacoma. King County is where Seattle is located. Then there is Snohomish County to the North and the big city is Everett. Statistics in the Puget Sound region are usually divided up between the three counties.
Pierce county has been classified (for awhile now) as a declining market, so Wells Fargo cuts the ltv of high ltv loans my 5% automatically. So, if your buyer is qualified at 95%, well in Pierce County they are only getting 90% ltv. This is not new news, just FYI.
Now King and Snohomish County are not classified as declining markets, but some neighborhoods are and there is no black and white answer. The rep said if a house has been on the market for more than six months (which the appraiser will note) then you are in a declining market and the ltv will be cut. Or, if the area the house is located has a lot of long listings then the ltv will be cut. It is up to the bank.
What does this mean? You better price the house right the first time, because it gets more difficult to find financing the longer the home is on the market. Are you (or are you working with) the agent that actually tells the seller what the home is worth? Do you walk away from the listing if the sellers want to overprice the home? Does the listing agent carry any judiciary responsibility if he/she prices a home wrong and it gets on the Wells Fargo list and impacts the neighborhood?
I wonder where all this is going....
Boe Lindgren
Broker / Owner Ashlar Realty
Lynnwood, Washington
Mayor Nickels proposed a$.20 tax on every plastic grocery bag used in Seattle. You can check out the story at http://www.kirotv.com/news/15774371/detail.html .
I think this is just another tax. I have heard that the city goes through 360,000,000 bags a year. That would be an extra $72,000,000 in revenue annually. Wow, what a sneaky tax. I can hear them in the backroom going, " Alright, we need more money. We are not sure for what yet, but more is better. We have maxed out the Sales Tax, Property tax, gas tax, license tab tax, liquor tax, etc.... What if we say that plastic bags are bad for the environment and do a study (like the monorail guys) to prove it. We know the outcome. Then we will tell the people that we need money for grocery bags to save the environment. This just might work!"
So here we are with another tax. I am not shopping anymore in Seattle. I already buy my gas outside of King county. Now no groceries in Seattle.
What about no tax on food? Isn't this tax very regressive (hurts those with the least amount of money most)? Is this really the biggest issue that Seattle currently faces?
Now if they raised the $72 million how should they spend the money? If they were business people and wanted to ‘parlay' thier winnings, they should invest in more traffic camera's. Those are huge revenue generators.
A full service real estate brokerage, with lending and insurance on-site. With the best home search in the Puget Sound Region www.pinpointhomesearch.com
Boe Lindgren is a fifth generation Seattle-ite and now lives in Lynnwood with his wife and two children. His background is in sales and marketing. After graduating from the University of Washington he pursued a career in Insurance. In his first two years he went on over 1,400 appointments and issued over 400 policies. He worked four years in the insurance industry then transitioned to a marketing position for Miller Brewing Company. Out of 88 marketing representatives across the country, Boe finished the year ranked #1 in sales growth and brand placement.
His next move was to KONG TV in Seattle. He was hired on as an Account Executive and selected for the Broadcast Sales Academy in Dallas, TX. He met his goals selling advertising on television and finished with a complete understanding of the advertising world. While at KONG TV he developed a marketing campaign for a local mortgage company that was very successful. So much so that the mortgage company made him an offer he couldn't refuse.
The mortgage company focused on first time home buyers. Seeing the opportunity of being a licensed real estate agent, Boe acquired his real estate licensed after being a loan officer for a year. Real estate then developed into the focus of his business. He has introduced the industry (lending / real estate) to a number of people. Until finally forming the Zero Down Team. The Zero Down Team was a successful marketing company that bought together real estate agents and loan officers for the benefit of the clients.
Boe then pursued and obtained his Washington State Real Estate Brokers License and his Washington State Loan Originators License (#510-LO-31998). In January 2007 Fun Realty Corporation was formed. This led to Ashlar Realty which opened its doors in October 2007.
Boe is an active participant in the local community. He is a Past-Master of Doric Lodge #92 F&AM and a member of: Oriental Chapter Royal Arch, Adoniram Council, Commadry #2 Seattle Knights Templar, Nile Shrine (AAONMS), Everett Valley Scottish Rite, St. John's Lodge #9 F&AM, Esoterika Lodge #316 F&AM, Nile Shrine Oriental Band (Past President), Senior DeMolay (Shoreline), DeMolay Legion of Honor.
For more information about Boe go to: http://www.blogboe.com/ or http://www.ashlarrealty.com/
Ashlar Realty has brought together a great team of people. We have lending, marketing, and insurance all on-site. This creates convenience and value to the client. The client knows the status of their loan, the status of the transaction, the status of their insurance all with one call. This also allows the team to cross market our products.
David Haley is an experienced licensed loan originator and branch manager for Hometown Lending. He is always is available for pre-approval and has a bank line to draw from (making docs quick when needed). David Haley customer service and file management makes him an asset to the team. We have been together for 5+ years.
Sean Riley has a branch office here with Farmer's Insurance. Sean Riley has been in the insurance industry for years and is a native to Seattle. His follow through and integrity caused me to invite him to the team. He has been working with us for 6+ years.
Jim Warner is the marketing director of the ROCS program. Jim has been in the real estate world for 14+ years and gives our team a marketing edge. Jim honesty, integrity, and wisdom makes him a critical component to the team environment.
These three and a great office manager in Amy Gregersen is bringing Ashlar Realty up through the ranks. Not only do we do good business together we also have fun together and are friends. If you are ever in Lynnwood Washington and visiting the NWMLS office, we are right across the parking lot. Swing in anytime to say hi.
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