Robert Weston

That is a great question. Major remodels can be more costly that new construction it really depends on the stile of remodel etc. Many homes are on the market at below replacement costs. We are seeing more people choose to stay in there homes and remodel because it has been so expensive to build new and harder to sell their existing home. The other thing that I would look into is the cost of different products. I know that certain items that contain petroleum products have gone up and items that require high shipping or trucking cost like concrete etc. have gone up. I have heard however that wood prices are down. I guess I would need to know more about the circumstances and specifically what you are looking to remodel. As far as the Geneva area, it will continue to be an area that people want to live and invest. There are some more affordable homes and distressed properties in the area that might bring the price down in the short term, but there are also still many homes in the higher price range. If you look at the history of real estate in the Bellingham area, historically a home that was worth $600k today could potentially be worth twice that amount in a 10 to 20 year period. I hope this has been helpful. If you would like to ask me specific questions regarding your remodel or values, feel free to email me or call. - Wed Oct 8 2008, 10:24

Well these are all great answers and I agree with most of them. If you look on a settlement statement from an escrow company, it is usually a minor line item. Full escrow service wouldn’t even come close to that amount even if it was for a commercial property. If you call an attorney, they may have a flat fee. My guess if you call a Real Estate attorney they may do it for a minor fee because they just pull a copy out of a file and might even notarize it for you. If you want to do it all yourself you can get forms at the library or you can go to Legalzoom.com and you can get any legal document prepared by an attorney for a fraction of the cost of walking into an office etc. Hope this helps. If you want a few names of attorneys or escrow companies in the Bellingham area I can get those to you. Good luck. - Mon Sep 8 2008, 20:51

I dabbled in commercial Real Estate about 14 years ago when I first got in real estate. I was introduced to the idea of a retainer by a CCIM speaker. I was fascinated by that and I thought that would be a great idea. The fact of the matter is that I never tried it, and subsequently I have been burned by a few buyers. Buyers agency contracts are as far as I have gone and they work. I know that most Realtors would love to get paid for everything we do and for every person we drive around the state. Sounds good to me. When will it start and where? - Thu Jul 17 2008, 00:21

There is one thing to be careful of here, and that is the use of the word "standard". There is no standard, or there isn't supposed to be. All commissions are negotiable, always. The last agent was right on when she mentioned the multiple listing services. If you are a buyer and the property is listed, you don't really have a say in what the buyer or listing agents are going to get paid. If you are working with an agent and you are wanting to make an offer on an unlisted property or a “For Sale By Owner” you will need to negotiate with your agent as to what they get paid. If this is done in writing then this is a buyer's agent contract. The buyer’s agent will try to work it out that the seller pays the commission. What might be happening here is that two agents are trying to get paid for the work of one agent, i.e. one agent had an unlisted property in his or her pocket and told another agent and the agent had you as a buyer. The seller may not have agreed to pay a commission, so they put it on your side of the balance sheet. I can only speculate because I don't know all the circumstances. If I knew all the details, I could probably be of more assistance to your exact situation. Feel free to email me with more detail. I am intrigued. Do you have a buyer’s agent? If not you should have one to look after you and be able to answer these questions for you..... The real question is; Do you feel you are getting a "good deal" that you can be happy with, regardless of the commissions etc.? And, Do you want to continue with the sale?

Best Wishes,

Robert Weston - Tue Jul 15 2008, 16:32

When the dust settles with all that is going on in the political and financial world that we live in I think people will look good and hard at the things that truly matter in life. Bellingham is an amazing place to live, and people just want to live in a place that you can enjoy life. Bellingham is one of those rare places in Washington and the US that is big enough to have the things you want in a big city, but still feels like a small town. Buyers are coming into town and seeing this for themselves and are ending up with great deals and taking up some of the excess inventory. Not to mention we live close to the border of Canada and the Canadian investors are beginning to buy again. These are just my thoughts. What is your big secret Damian? Do tell…

Bye for now,

Robert Weston
Windermere Real Estate/Whatcom. Inc.
360-303-4300 cell
rweston@windermere.com - Tue Jul 15 2008, 16:10