It just gets better and better….
Compassed welcomed 2,775 agents and 446 employees.
We added 49 offices
We helped 8,659 clients find their place in the world
and we’ve only just begun.
#Breaking News and Compass Quarter 1 2019 Wrap Up
Seattles Greatest Homes
The Condo Conundrum | So you have decided on a condo. Do you buy new or invest in a resale?
Written By Chris Doucet
The Condo Conundrum
New condo presales are springing up everywhere. The Seattle area has gone from only resale condo inventory for many years to a vast selection for those buyers willing to wait for buildings to be out of the ground or finished.
These new buildings are sexy and shiny and, for the most part, offer or promise to provide, a vast array of concierge services and enticing community spaces.
As always, condos offer a wonderful option for the first time (often millennial) buyer desirous of a simplified solution in a residence; and with the aging of the baby boomers, empty nesters in hoards are looking to condos to downsize and free themselves from home maintenance and upkeep.
So you have decided on a condo. Do you buy new or invest in a resale?
Price is a major consideration. Buildings under construction are listed in the $1,500 range per sq ft in presale. Resale homes in urban Seattle and Bellevue are typically in the $800 to $1000 sq ft range. Older buildings may not have the latest in technology but they may have more living space. They may also have dated systems that may require updating with potential assessments and higher home owner dues. If price is a consideration, resale is more affordable.
It is always nice to live in a brand new dwelling. Like a vehicle with that new car smell, it can be intoxicating. Waiting for completion of that new project can be an issue. Is it worth the wait on a building that may not be ready when you are? Are you overpaying? What will the housing market appreciation be until then? Will the amenities be up to expectations? What about the developer warranties?
How about views? Since Seattle has become “crane city”, lots of condo views have been impacted. Be sure that the view that you are paying for will not get compromised. Seattle in Progress is a great site to research as are city sites on rezoning boundaries (Housing Affordabilty and Livability) and the LID (Local Improvement District) for upcoming Seattle city assessments to help fund our new waterfront park.
Do your research. Armed with the right information, you can make the best decision for your future condo home.
The haves and have nots… The real estate industry is changing dramatically.
Written By Chris Doucet
The haves and have nots…
The real estate industry is changing dramatically. Two trends are becoming more and more apparent and dissimilar. One school targets bargain sellers and the other believes that full service is still the best way to represent sellers with, likely, their most significant investment.
Redfin started the trend of offering discounts on home sales. With Refin there are lots of moving pieces. The listing agent that you meet initially is not the agent who markets and transacts the sale, does the inspection and presents the property to best advantage. Services are a la carte. You want more, you pay more. Agents are much less important in the process as is the consistency of representation.
My brokerage, Compass, stands at the other end of the spectrum. A customer driven orientation is our goal with high touch agent interaction, full service and a seamless sales experience that is geared to getting you the very best price.
In keeping with the newest trend, both companies are technology driven. That is where the commonality ends.
In my decades of real estate experience, I have always offered this concierge focus. From branding the property, creative and innovative marketing, staging, home prep and project management plus constant interaction with the client, my goal is to make the selling experience as easy and seamless as possible.
I had always hoped but never anticipated aligning myself with a brokerage that not only felt the same way but added a smorgasbord of services (for instance financing home improvements up front until the home closes with Compass Concierge) immediately available to us. Of course, I have my stable of service providers who are tried and true but Compass adds another layer to allow me to streamline my representation. Add to that Compass’s ever improving technology, it is an unbeatable combination.
You make the choice.
Clients for Life - Thank You
As challenging as some transactions are, I get to meet some wonderful and fascinating people. I was fortunate to close the 6th transaction for one of my favorite couples. They are the nicest, most loyal and gracious clients ever.
We met at an open house at a Capitol Hill condo many years ago. Then we sold their fabulous home in Washington Park, moved on to Eastlake and then Belltown. That condo is now sold and they are relocating to a retirement community. They have also referred me to multiple friends and colleagues whom I have helped buy and sell. That chance meeting at an open house has proven to be an enduring relationship. Congratulations to them and thank you for the confidence that you have shown towards me. Wishing you the very best in your new abode.
Tale of a City (Columbia City that is)
Written by Chris Doucet
Given that I have been a Seattle resident since 1969 and practicing real estate for 3 decades, I like to think that I am ahead of the curve on predicting up and coming neighborhoods. And I am--except to my husband.
Opportunity comes from areas in transition and I help my clients take advantage of it. Sometimes, I do it for me too.
Almost exactly four years ago, I saw an opportunity in Columbia City. It was a rundown mid century duplex across from Genessee Park. Those of you who know me understand that I love mid century dwellings for their simplicity and lack of pretension. I don’t seem to be alone as Millennials have discovered them too.
It was in bad shape. Long term renters had occupied the property—or shall I say long term hoarders. It needed almost everything replaced ,but the two units, a top and ground floor were over 1000 square feet each, captured tons of light and had parking. Best of all was the price-under $400,000. Perfect, I thought. I will use my design and real estate abilities and transform it.
What I didn’t plan on was the skepticism of my husband. We had renovated multiple other homes and our combined skills (he is in a contracting related field and VERY handy) are a good match. CC Duplex (as we would call it) would make a wonderful investment located between 2 Light Rail stations and a long block across the park to the burgeoning shops and restaurants of lively Columbia City. It was an area with great upside potential. But he did not like the neighborhood and it was a struggle to convince him to proceed.
I will spare you the saga of our construction hiccups (or, Hubby calls disasters) but 6 months later, and a total rehab, we welcomed our new renters. The place was darling and we ended up doing much of the work ourselves which did give us a lot of satisfaction.
What I didn’t expect is that the opinion of my Hubby did not change once the project was complete. He still did not see the value in Columbia City despite new townhomes being constructed around us and the neighborhood amenities improving. Fast forward to a few weeks ago when Seattle Magazine comes out with a cover story on the 21 hottest neighborhoods in the greater Seattle area. What is on the first double page feature? Columbia City and the Light Rail that has transformed the south of I-90 area.
Do I feel victorious? It would be nice to gloat but I have lots of convincing still to do at home. Despite that, I am on the hunt for the next investment area and I have my husband to thank for humoring, and trusting, me. Onward.
