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About Me
Seattle Real Estate - The more things change, the more they go back to the way they were. It amazes me that the real estate market is looking a lot like it did back in 1990 when I started in real estate. Lots of people asking too much and not selling. Lots of buyers worried about overpaying. Lots of agents trying to learn what they didn't have to know in the 2 or 3 years since they were licensed about valuing property.
I started real estate in 1990 with Coldwell Banker. Today, my partner Kim Harris and I run Sound Realty, a small brokerage where he and I work as a team representing buyers and sellers in Seattle and on The Eastside of Lake Washington. Running our own show gives us the ability to operate freely on behalf of our clients without a lot of red tape and policies that suggest we "can't" do whatever it is our clients' need us to do from time to time. We can personalize our service and commissions, and once having that freedom, it is difficult to turn back.
If you want to learn more about what's happening in Seattle Real Estate, www.raincityguide.com is an excellent resource and we try to keep up to the minute with changes that are happening in the marketplace.
You can call me on my cell at 206-910-1000 or email me at Ardell at RainCityGuide dot com.
I started real estate in 1990 with Coldwell Banker. Today, my partner Kim Harris and I run Sound Realty, a small brokerage where he and I work as a team representing buyers and sellers in Seattle and on The Eastside of Lake Washington. Running our own show gives us the ability to operate freely on behalf of our clients without a lot of red tape and policies that suggest we "can't" do whatever it is our clients' need us to do from time to time. We can personalize our service and commissions, and once having that freedom, it is difficult to turn back.
If you want to learn more about what's happening in Seattle Real Estate, www.raincityguide.com is an excellent resource and we try to keep up to the minute with changes that are happening in the marketplace.
You can call me on my cell at 206-910-1000 or email me at Ardell at RainCityGuide dot com.
Testimonials
""Ardell and Kim are patient and trusted advisors, and we wouldn't think of making a real estate decision without them. We found their expertise to be reassuring and their transparency to be refreshing.
After being burned by an agent in the past we were skeptical about the value that agents could offer, but the level of knowledge, professionalism, ethics, and client dedication that Ardell and Kim brought to the table far surpassed our expectations. We recommend them highly.""
Erik & Chris - WaMu Sun Jul 27
Erik & Chris - WaMu Sun Jul 27
""Ardell and Kim have been outstanding real estate agents, and have above and beyond in getting us our dream location. Our search took several months but they never lost patience and were always following up with good advice and good information. They were with us in the entire process, being there for us at short notice to look at properties, helping and educating us on various pros cons, giving us lots of advice throughout the process, and helping us make good decisions. Above all, they have very high integrity. They were not afraid to turn us away from many, many properties even though they had a commission to lose at each point, because they were more concerned that we get the right property for us at the right price. That is admirable indeed. In addition, Ardell and Kim have an enormous amount of experience, both in evaluating properties, as well as evaluating buyers, sellers, and the 'other' agent. You only need to look once at Ardell's blog and you will know they are super-smart. In short, they rock!!""
Ganesh & Kala - Google Thu Jul 31
Ganesh & Kala - Google Thu Jul 31
My Q&A
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Ardell Della…'s Questions (0)
Ardell Della…'s Answers (113)
Ardell Dellaloggia answered:
You have the right to "back out" on other things, but not "change your mind" so contact your agent immediately and find out what your "legal out clauses" are and don't tell anyone you "changed your mind".
You generally have five days to cancel based on the "Form 17" Seller Disclosure statement once received. Best to use a legal out. If it's a condo, you have a Resale Certificate "out" time. Most legal outs happen in the first 5 days.
Consult an attorney if you are not sure, especially if your Earnest Money amount warrants the legal fee. Don't delay and don't use "changed my mind" as reason. "Changed Your Mind" usually equals seller gets to keep your Earnest Money Deposit.
"Earnest Money" means you signed the contract in good faith to proceed and NOT change you mind, so changed you mind is almost never a legal out.
The only change your mind in WA that I know of has to do with a refinance of a mortgage.
You generally have five days to cancel based on the "Form 17" Seller Disclosure statement once received. Best to use a legal out. If it's a condo, you have a Resale Certificate "out" time. Most legal outs happen in the first 5 days.
Consult an attorney if you are not sure, especially if your Earnest Money amount warrants the legal fee. Don't delay and don't use "changed my mind" as reason. "Changed Your Mind" usually equals seller gets to keep your Earnest Money Deposit.
"Earnest Money" means you signed the contract in good faith to proceed and NOT change you mind, so changed you mind is almost never a legal out.
The only change your mind in WA that I know of has to do with a refinance of a mortgage.
Ardell Dellaloggia answered:
In agent terms, what you are suggesting is called PendingBU meaning you have a pending contract in escrow, but are seeking BackUp offers.
How long is the close period?
Have you finished negotiating the home inspection?
The danger in actively seeking another buyer, such as continuing to hold Open Houses, is that you will scare away the buyer you have and end up with no buyer at all. By sending the message to your existing buyer that you may not honor the contract, you may cause that buyer to treat you the same.
Golden Rule applies. If that buyer is expected to close on the existing contract in your mind...then so are you. That is the psychological consideration.
If the "long" escrow is more than 60 days, is that a hidden contingency? Why is it longer than normal? The why is more important than the # of days it is longer than "the norm".
Generally speaking, a bird in the hand is worth two in the bush. There are very few truly happy sellers these days, but the SOLD ones who are selling at less than they had hoped for are luckier than those with no offers at all, and they are many.
How long is the close period?
Have you finished negotiating the home inspection?
The danger in actively seeking another buyer, such as continuing to hold Open Houses, is that you will scare away the buyer you have and end up with no buyer at all. By sending the message to your existing buyer that you may not honor the contract, you may cause that buyer to treat you the same.
Golden Rule applies. If that buyer is expected to close on the existing contract in your mind...then so are you. That is the psychological consideration.
If the "long" escrow is more than 60 days, is that a hidden contingency? Why is it longer than normal? The why is more important than the # of days it is longer than "the norm".
Generally speaking, a bird in the hand is worth two in the bush. There are very few truly happy sellers these days, but the SOLD ones who are selling at less than they had hoped for are luckier than those with no offers at all, and they are many.
Ardell Dellaloggia answered:
Lowest bid is often about not changing the first number. Anyone listed at 6 something is most offended if the offer number is not 6. That gives you more room to negotiate than if the asking price was $629,000 or $619,000. Not that they will be happy with $600,000, but don't make the mistake of offering $590,000. If your analysis suggest it is worth less than $600,000 then waiting for a price reduction might be better than making an offer of less than $600,000 now.
Time is often a factor. How many showings they are getting. Remember, you are not really negotiating with a seller as much as you are with other potential buyers. If no one else is around to buy the property and your offer is the best they can get, you will be successful...in time.
Last but not least, the answer is not NO until someone else buys it. This is a market where many sellers are looking back at an offer they had in the first 30 days, and wishing they had that same offer back on the table. Don't settle for a house you like less until this one is sold to someone. The seller's no today could become a yes to the same offer in the not too distant future.
It's not over until someone buys it or the seller decides not to sell it at all.
Time is often a factor. How many showings they are getting. Remember, you are not really negotiating with a seller as much as you are with other potential buyers. If no one else is around to buy the property and your offer is the best they can get, you will be successful...in time.
Last but not least, the answer is not NO until someone else buys it. This is a market where many sellers are looking back at an offer they had in the first 30 days, and wishing they had that same offer back on the table. Don't settle for a house you like less until this one is sold to someone. The seller's no today could become a yes to the same offer in the not too distant future.
It's not over until someone buys it or the seller decides not to sell it at all.
Ardell Dellaloggia answered:
Those that are in better condition tend to be the better investments. Those that are in various stages of dis-repair are usually not a good bargain. For an owner occupant, they can get the same condo unit for less, as example. But for investors who think they are going to turn around quickly and seller them for more than they are paying, the market slowdown is not putting the odds in their favor.
Ardell Dellaloggia answered:
More people are turning to renting today than they were when you first asked this question. Many more will follow in the next 30-60 days. In my experience it is the vacant properties that are more likely to rent than those that continue to be owner occupied.
I think people should sell rather than wait. I don't think the market will be better than now next year or the year after that.
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