Not Your Regular Listing Appointment

Well, this week brought the unexpected, to say the least.



Early Monday AM we received a call from a prospective client that wanted to list their home in West Seattle. They had been unsuccessful in selling it themselves, and their last real estate agent hadn't done any better. We made an appointment to go and view the home at 12:30 that afternoon. Upon arriving, we were met by the owner's lovely elderly mother, who began to show us the home.



While she was showing us around, she mentioned that she had surgery on her foot last month and was just getting mobile again (she was using a walker to get around, but doing well). This home is a lovely, albeit dated 1960's split level with a view of Puget Sound. As we made our way downstairs to the lower level, "Mary" (not her real name) left her walker behind. She said she didn't need it because the hallway downstairs was narrow and she could lean on the wall as needed. We proceeded down, although not entirely comfortable with this.



Anyway, not more than five minutes after going downstairs, Mary became faint and needed to sit down. We helped her to a stool in a bathroom just off of the hall. I had just turned my back when she passed out, falling from the stool and hitting her head on the bathroom door on the way down. We rushed to help her and she quickly came-to, apologizing and asking for an orange because she felt that her blood sugar was getting low. We got her an orange and helped her to sit up on the floor after a few moments on her back, with her back resting against the wall. We also phoned her daughter at work (we had to go outside to get a cell-phone signal - there was no landline in the house). Her daughter said she was on her way home.



Just after that phone call, "Mary" became unconscious and began convulsing. We immediately called 911 (had to run outside again to get a signal). Within 5 minutes, Seattle Fire had arrived, but those were a long five minutes. Mary came-to and went back under again between the phone call and the Medics arriving. She then became unconscious again while the medics were with her. It was difficult to watch her struggle, not knowing what more we could do to help her, except to keep talking to her and asking her questions so that she'd stay awake until help arrived. She seemed gravely ill. It was terrifying.



Once the medics evaluated her and took her out of the house, we secured it and called her daughter again to let her know which hospital her Mom was being taken to. We left a note in the house and our business card, too, in case the family had any questions or needed our help in any way.



We sincerely hope that "Mary" is doing well. We've called her daughter and left a message asking about her, but as of yet, have had no response.



We were amazed that an elderly person, recovering from surgery, no less, was left home alone in a house with no telephone. What might have happened if we handn't made that appointment yesterday? How could "Mary" have called for help if she had become ill while she was alone? We shudder to think what the outcome might have been.



Its funny how fate brings people together. We went there yesterday thinking that we might be able to put our expertise to work to help this family sell their home and move-on to the next phase of their lives. As it turns out, our help may have gone way beyond real estate yesterday - it may have preserved this family so they can make it to that next phase together. We hope that's the news we'll get, and that "Mary" was at least comforted by us until she could be helped.



Mary, you are in our thoughts.



Keith & Tim

Think Real Estate is Expensive in Seattle? Try London!

77 sq. feet for $335,000? Welcome to London
Symptom of market where values rose more than 22 percent in a year

Real estate agent Andrew Scott poses inside the London apartment up for sale at $4,340 a square foot.

View related photos

LONDON - Location, location, location. Almost anywhere else, the tiny dilapidated studio wouldn’t attract much more than mice. But this is London and the 77-square-foot former storage room — slightly bigger than a prison cell and without electricity — is going for $335,000.
The closet-sized space in the exclusive Knightsbridge neighborhood may be only “about the size of a ship’s galley, said real estate agent Andrew Scott, who’s handling the sale. “But it’s permanently anchored to one of the wealthiest neighborhoods in the world.”

At more than $4,340 a square foot, the mortgage buys a spot within walking distance of tony stores like Harrods and London’s iconic Hyde Park. Originally conceived as a maid’s room, the apartment at 18 Cadogan Place hasn’t been used for years and is littered with trash bags and crumbling paint.

A coffin-sized shower is en suite, and storage is provided by a shallow closet and 10-inch-deep shelves cut into the wall. Two hot plates and a small sink make up the kitchen. Two dirty windows allow light to filter into the basement room, and the fire escape could conceivably double as a shared patio.

With no electricity or heating, Scott said it would cost an additional $59,000 to make the room habitable.

“It is an investment,” he said, as he stretched his arms the width of the room, laying his palms flat on opposite sides of the wall.

The sale of this dark, mildewy room illustrates the astronomical rise in property values across London, which in the past year has seen average residential property prices increase 22.4 percent, to about $703,000, according to figures released Monday by Rightmove, which tracks the British property market.

Prices in London’s most desirable neighborhoods have grown even faster, with average house prices in the borough of Kensington and Chelsea — where Cadogan Place is located — rising 61.8 percent over the past year to a jaw-dropping $2.2 million.

Ultra high-end property prices in London are the most expensive in the world, with some recent sales hitting $6,000 per square foot — making the Cadogan Place studio a bargain by comparison, according to research published last year by CB Richard Ellis Group Inc.

Similar properties in New York can go for about $5,000 per square foot, while those in Hong Kong sell at around $4,000 per square foot.

Scott said he already had three offers on the property, which might go to auction. Size, he added, is in the “eye of the beholder.”

“If you thought of this as the cabin on a boat, you’d say, ’It’s pretty spacious,’ “ Scott said.

© 2007 The Associated Press.

Realtors predict steady price climb

By Kathleen M. Howley
Bloomberg News
The National Association of Realtors, the industry's largest U.S. trade group, says nationwide home prices probably will gain 3.4 percent next year, double 2007's pace, as the economy improves.
The median price for a previously owned home will increase 3.4 percent to $233,000 in 2008, accelerating from a 1.5 percent pace this year, the Chicago-based trade group said last week in a forecast. The pace was 1.1 percent in 2006, falling from 12 percent in 2005, at the end of the five-year housing boom nationally.
The growth shows that the U.S. housing market avoided a crash, NAR's chief economist, David Lereah, said in the report.
While lower than the historical average, home sales show a "soft landing," Lereah said. He expects resales to grow to 6.58 million next year from 6.42 million in 2007.
"Despite the doomsayers, household wealth will not evaporate, and the economy will not go into recession," said Lereah, author of a 2006 book, "Why the Real Estate Boom Will Not Bust — And How You Can Profit From It," published by Doubleday. "Steady improvement in sales will support price appreciation moving forward."
The turnaround will come when buyers have fewer choices of homes on the market, said Ron Peltier, chief executive of HomeServices of America, the second-largest U.S. owner of residential real-estate brokerages.
"Inventory needs to be absorbed," Peltier said.
Measured in terms of how long it would take to sell off the existing stock, inventory stood at 6.3 months in November, higher than the 4.9 months a year ago but down from a high of 7.2 months in July, the Commerce Department reported.
Lereah expects the U.S. economy to expand at a 3.2 percent pace in 2008, up from 2.5 percent in 2007, he said in the NAR forecast. The average U.S. rate for a 30-year fixed mortgage is expected to be 6.6 percent next year, matching the expected 2007 rate. Last year, it was 6.4 percent, Lereah said.
U.S. home prices have risen an average of about 5 percent a year over the past 50 years, according to Freddie Mac, the No. 2 buyer of U.S. mortgages.
Copyright © 2007 The Seattle Times Company

What's Hot and What's Not in Home Design

Mark Nash, the Chicago-based real estate broker who penned 1,001 Tips for Buying and Selling a Home (Thomson/South-Western, 2004), has released a list of home features that remain popular among buyers and those that are no longer in vogue. His list is based on responses from more than 900 real estate professionals nationwide.

For example, practitioners surveyed reported that the inability to keep stainless steel appliances, glass-front cabinets, and vessel-style sinks clean has caused them to fall out of favor with buyers. Also, spiral staircases have become less popular, particularly among buyers with young children.

As for what's "in," Nash found buyers are increasingly looking for some of the following features in homes:

• Glass bathroom and kitchen tiles.
• His-and-her home offices complete with fiber-optic cables for Internet connectivity.
• Wood floors — except for those made of bamboo, which is not as durable.
• Extra storage space in the form of linen closets, pantries, and luggage rooms.

With a large supply of unsold homes on the market, the practitioners surveyed noted that buyers have become pickier and expect homes to be in move-in condition.

So, what are the things that you are looking for in a new home? Do you favor stainless steel appliances, or another color? Why so? What about wood floors (or some other surface) vs. carpet? What else is important to you, and why?

Tell us!

Source: Washington Post, Kirstin Downey (01/06/07)

10 Tips for Pet-Owning Sellers

Hello All,

Here is a great article from the Daily Real Estate News for home sellers with pets.

Pet-owning sellers may turn off potential buyers if they don’t keep Fido or Fifi out-of-sight during showings.

"If a dog or cat is around during a showing, I've found that a buyer either freaks out because they're afraid of or allergic to animals, or they fall in love with the pet and don't pay attention to the house," says Maria Rovegno, a broker with Prudential Douglas Elliman in Port Washington on New York’s Long Island.

Here is a list of advice for sellers when showing a house that has a pet:

1. Remove photos of pets from the walls, shelves, or refrigerators.

2. Clean food and water bowls regularly, and hide them when not in use.

3. Stash away pet toys, crates, carriers, and leashes.

4. Vacuum carpets, upholstery, and wood floors.

5. Keep litter boxes clean and out of sight, and remove signs of doggy potty pads.

6. Open windows to let in fresh air.

7. Neutralize odors with fresh-smelling candles and air sanitizers.

8. Hire professionals to remove unsightly pet stains.

9. Board or crate animals during open houses.

10. Repair visible signs of pet damage, such as scratched walls or floors.

Source: Newsday, Aimee Fitzpatrick Martin (12/29/06)