We will be joining Keller Williams associates across the United States and Canada – in taking this day off – to serve and give back! In 2009, over 25,000 associates participated, and donated over 130,000 hours of community service. We hope to DOUBLE that in 2010!

Our team is spear-heading our Bothell Keller Williams office efforts – and will include individuals and groups serving in various ways:
a. Home renovation projects

b. Nursing home visitation

c. collecting food & donations for the local Food Bank

d. Bothell City – Centennial Park cleanup project

e. Bothell City – Blythe Park bathroom painting project

f. Other activities.

If you are interested in JOINING US – please email reply – and we’ll get you connected. Many employers will not only allow you to take time off from work, but will support your efforts.

While we serve – we want you to know that we will be available by phone and email throughout the day, to answer urgent real estate questions or solve issues that may arise. But for the most part – we’ll be busy serving! And we’d love to have you join us!

We’ll post photos from the day’s events, so be sure to check back often to see what we’ve been up to!

All our best,
Jesse, Dennis, Andy & Monica

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What is the Definition of a First Time Homebuyer?
The law defines “first time homebuyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homebuyership history of both the home buyer and his/her spouse.

Who is Eligible?
First time homebuyers purchasing any kind of home–new or resale–are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.
Income limitations of $75,000 for single taxpayers and $150,000 for married taxpayers who file a joint tax return apply to this tax credit. However, taxpayers who earn slightly more than the limits can apply for a reduced tax credit.

What Type of Home Qualifies?
Any home purchase qualifies, including single-family homes, townhouses, condominiums, manufactured homes and houseboats. Qualifying homes may be an existing home, new home or a home the owner contracted to build. Those who own a vacation home or rental homes that are not their principal residence are also eligible for the tax credit if they buy a principal residence.

Buy Now and Take Advantage of This Tax Credit
Now is the time to buy a home you might otherwise have not been able to purchase. Contact Cody Touchette at Mortgage Advisory Group today for free professional advice on this program and for fast, easy loan qualification. Need a referral to a great Mortgage Advisor? Call 425-317-8000 and we will ensure you get the help you need. Your Future is Our Focus.

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A common theme in the modern world is the wildly optimistic, hopelessly hopeful, against-all-odds rescue story. Maidens in distress, burning buildings, meteors plummeting to earth: all require a superhuman, faster than a speeding bullet, able to leap-tall-buildings-in-a-single-bound kind of rugged individual who sizes up desperate situations and makes the right snap decisions at a moments notice.

If you’ve been awake the last 2 years, you’ve probably caught wind of the fact that the world economy could use a little intervention f rom the man of steel, or just about anyone who’s willing to assume the mantle. Just to be clear, I’m not volunteering; I look terrible in tights, and tend to go pale at the sight of blood.

However, an article I came across in BusinessWeek got me thinking about what this economy presents in terms of opportunity. As many of the business leaders interviewed mention, the shift of focus toward growth and optimism is happening, and it will be those who have the courage to take the leap of faith toward opportunity who stand to reap the greatest reward.

2008 was a brutal year for real estate. From the sub-prime meltdown in August of 2007, through the Bear-Stearns, Lehman Brothers debacles, and the subsequent banking crisis, the financial world has been in a constant state of upheaval. The home financing standards pendulum, which was tilted toward ludicrously loose (think “Liar’s Loans”), swung a full 180 to be so restrictive as to dramatically impact the ability of financially healthy businesses from securing  operating capital. And, of course, there’s the wildly volatile stock market- what to make of that?

Signs that the worst may be over have arrived in the form of restrictive new legislation, such as the HVCC and HERA laws governing appraisal procedures and lending disclosure timelines. Both of these are, in my view, knee jerk legislation aimed at appeasing a few big lobbies who’ve wanted to get their fingers into some pies that aren’t theirs. I fully anticipate that we’ll see modifications to these rules and relaxation of some of the more heinously restrictive requirements. It will take time, but I believe those changes will come.

Back to our hero! If jobs are the crux of the problem, and consumer indexes won’t reflect real growth without them, it seems the place to start is with those businesses that have the ability to hire. However, as I mentioned earlier, the funds for businesses have been scarce in this downturn. Even firms with the financials to justify growth investment have been hesitant, or unable to, due to the paucity of affordable financing.

We’ve seen attempts from various government agencies to fill the role of hero, and have a legacy of debt, entitlements, and bureaucracy to show for it. Well, here’s a new idea- how about private investment funds to the rescue?! I tripped across this last night, and found it pretty intriguing. I’m not crazy about the outfit  this gal’s wearing (um, hon- mini skirts and barstools are a combo best left to co-eds, not business professionals on-camera- and yes, I know this is ‘happy hour’!), but the message is certainly worthy of consideration. What do you think?

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With all the talk since January of inventive incentives to seemingly stimulate everything from hair growth to employment, never mind the pin-striped panhandlers on Wall Street (don’t even get me started!), it’s been interesting to watch the recent evolution of the environmental movement. From a tree-dwelling band of radical long-hairs with an agenda but little else, the cause has grown to encompass nearly every segment of our consumer-centric society. To paraphrase Chickenman, “It’s Everywhere!”

From Dr. Bronner’s soaps (one of the true originals) to the Toyota Prius, there’s been a sea change in perceptions of the impact our daily activities have on the planet. Few consumer products have escaped the scrutiny and benefit of an eco-makeover, with some being truly re-made, while others have received the marketing equivalent of a botox injection- also known as ‘Green-washing‘.

Being green was once a tough sell due to the perception that it was ‘difficult’, and expensive. As green products and processes have slipped into the mainstream, that position has gradually become harder to defend; especially as the businesses who once protested have come to realize the economic benefits of waste prevention, thoughtful  materials utilization, and positive PR.  Green has become a critical component of the consumer psyche, which makes it essential for business and government to recognize and support efforts to provide products that fill the need.

Housing, being one of the largest  financial and environmental purchase decisions most of us make, has the potential for dramatic impact on both fronts. Of course that’s why incentives for green construction have become high profile bartering chips in the latest round of congressional negotiations over economic stimulus. Combined with a growing demand for higher efficiency homes, it looks like we may be on the cusp of a new paradigm in the construction arena.

Environmental Standards have already been developed for both commercial and residential construction. What many builders have yet to absorb is that achieving the residential standard does not have to be an exhaustive exercise. Using an escalating scale, builders can choose to participate at any of the 4 levels, and can expect to reap the rewards accordingly. Which is where the consumer comes in: Green is on the list of criteria for a growing number of homebuyers.

This is where the stimulus portion of Green really gets traction:  the numbers indicate that green homes actually sell at a premium, while costing less to own, with little or no significant upfront expense differential from traditional construction methods.

After all this time, it looks like Kermit got it wrong; It’s Easy Being Green!

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Great Investment!Incredible value! Townhome style duplex on quiet street w/serene setting in Lowell. Newer indvidual decks overlook greenbelt w/peek-a-boo mtn view. Each unit has 2bed/1.5ba and 1 car gar PLUS lots more parking (RV parking). Unit B has new flooring thru-out, new bathroom up, new light fixtures in main living area & both bathrooms. Each kitchen has eating area and slider access to deck. W/D located inside each unit. Rents are $950 & $975.

List Price: $315,000
MLS#: 29044345
Address: 2118 49th St SE, Everett WA 98203
Bedrooms: 2 in each unit
Bathrooms: 1.5 in each unit
Square Feet: 1752
Price/Sq. Ft: $185.50
Year Built: 1976
Taxes: $2,953 (2008 Tax Year)
Heat Source/Type: Electric Baseboard
School District: Everett

Call Lisa Bender at 425-770-4438 or Jesse Moore at 425.876.0766 or Dennis Pearce at 206.931.9945 for more information.

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After an intense (and fun) Pickett Street Properties retreat, I needed a bit of mind-numbing TV. In my search for something to watch, I came across the Food Network show called “Food Detectives.” It’s a show that does experiments with food—sort of an Alton Brown meets MythBusters.

On the night of my respite, they did an experiment on food and how it tastes based on presentation and flowery descriptions. Two groups of diners were told they were going to be reviewing a new restaurant and after their meal they were given a survey to fill out.

The first set of diners’ menus said they would be having “Green Salad, Fish, Green Beans, Potatoes and Chocolate Cake.” They were sat at tables with plastic table cloths, served New Jersey red wine in plastic cups, and their meals were presented on rather dated plates.

The second set had “Crisp Mescluin Seasonal Greens, Succulent Panko encrusted St Peter’s Fish, Hericot Vert, Potatoes au Gratin and Belgium Double Chocolate Cake.” They were sat at tables lit by candelight and adorned with linen table cloths. They were served a red wine from Nappa valley and the meal was presented on a classic plate.

Did I mention that the food itself was from a warehouse store and aside from the presentation, the food was the same?

The hypothesis is that people will be biased based on expectations and will seek to verify their expectations. In other words, if you think it’s going to be crispy or succulent, you will look for that. While I anticipated the results would show the better presented food would be the “winner,” I was surprised at the  difference in perception.

Plain Jane customers rated the food on average at 3.5 (out of 10) and would pay an average of about $10 for the meal. Some of the people were interviewed on camera and the comments were very critical. One person even said that they couldn’t finish their meal.

The second group with the better fancier menu names and nicer presentations rated the food an average of an 8 and would pay $38 – nearly four times as much as the first group!! One of the interviewee’s said that the fish reminded her of her childhood and it brought back lots of fond memories of eating dinner with her mother. Same frozen fish – many very different opinions.

The same is true in real estate. A home sparingly adorned will be thought of simply and sell for less money – the same home, once staged by a professional, can change the entire experience for a potential buyer. The results from Food Detectives reinforce the Pickett Street Team’s belief that a home should be professionally photographed, staged and promoted with excellent marketing copy.

Successful marketing is no more than managing perception. Choosing a real estate agent that understands this can mean the difference between a frozen fish and a memory of mom. Perception is a powerful thing – if Food Detectives is any indication, it might be more powerful than reality itself.

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Warning: if Accounting isn’t your language of choice, your eyes may be about to glaze over. However, as with many things arcane, mark-to-market accounting  may be having a huge impact on the world we live in right now, and according to many critics, could well be one of the root causes of the current financial crisis. Mark-to-Market accounting is a reporting rule that requires financial institutions to value their current investments at today’s value, even if they have no intention of selling those assets now, or anytime in the foreseeable future.

As an example, if you were to consider the current value of your own 401k, which most of us are already doing with some significant trepidation, you’re  likely down about 50% from the highs of 2 years ago.  However, you’re able to do the calculations and realize that so long as you don’t sell today, you’ve still got a chance to recover on the long haul. Mark to Market doesn’t allow banks that option, but instead forces them to report the values on their holdings at todays value, as if they were going to sell everything today.

Because banks are not allowed to lend every dime they have access to, but must hold a portion back to cover their loans (see fractional lending), some argue that an accounting rule that ties asset value to current valuations, rather than allowing them to take a longterm view, much as we would, places artificial restrictions on their ability to recover from market fluctuations, and is at least partially responsible for the current liquidity problems in the world financial system.

The other side of the argument says that banks, whose actions with risky assets have largely brought this crisis on themselves, should not be allowed to price their asset valuations at anything other than current market value. Allowing them to do so essentially is seen by some analysts as rewarding the irresponsible behavior that started the initial cascade, and passing the risk on to the taxpayers.

Ultimately, the question of mark to market accounting will be coming to congress in the not so distant future. Legislation being what it is, we’ll have to see what comes of this, and whether our current administration decides to address it as an accounting problem, or a consumer protection issue.

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I just went through it in a minor way this weekend, as I was forced to deal with the assorted detritus of several years worth of projects. The last one, a bunk bed for my daughter, resulted in a fine coating of wood dust on every surface of the garage, and enough wood scraps to build a small barn.

My parents have been in town for several weeks now and Grandpa, being retired and a restless woodworker, was ‘inspired’ by his granddaughter (my 7-year old) to ply his skills in her employ. They both got what they wanted; I got another project. Namely, the disassembly of the old bed, reassembly of the new one ( 2 flights of stairs, 2×6′s, and MDF panels, anyone?), and the subsequent cleanup and disposal of said debris.  

Both cars are  now back in the garage (a result of  the persistent voice in my head that sounds remarkably like my wife), and I’m feeling almost restored. BTW, just in case you haven’t tried it lately, Craigslist is the killer app. Within 1 hour of posting the old bed as ‘free to the first taker’, I had 4 responses lined up to drag the thing away. Now that’s an effective purge tool!

I’ve been emailing this weekend with a new acquaintance who’s going through a similar, but completely different, process as she comes to grips with being cast off by our current economy. Say what you want about statistics, no matter how slim the odds may be, somebody IS one of those numbers.

In this case, Keri is one of the recently laid off Microsoft employees who, in coming to grips with her new reality, has taken the philosophical ‘purge’ approach- laying bare her newly unemployed soul with the wry black humor of the freshly jilted. She may be lining up a new career in comedy, which the current economy could certainly use; we need more reasons to laugh now than ever before! Note: due to language and some adult concepts, the above link may not be appropriate for all ages. 

Speaking of the economy, here’s one for you: 

Q. What’s the difference between a pigeon and an investment banker?

A. A pigeon can still make a deposit on a BMW.

here’s another-

I went to buy a toaster; and came back with a bank. 

See, you can still smile. 

If you have sorrows that still need drowning, may I recommend chocolate? Quality is the key. No point putting Hershey’s on your hips when you could have the good stuff. We’ve found the chocolate holy grail- handmade custom chocolate truffles, (We recommend the orange) paired with a tasty sweet wine. This is where sorrows come to wallow!

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Even though I’m really only 1/8^th Irish (my great-grandparents both came from Ireland), I look forward to one opportunity each year to truly celebrate my Irish heritage on St. Patrick’s Day.

But what does it really mean to be Irish? And why do nearly 1 in 8 people in the U.S.A. proudly report having some degree of Irish ancestry (and often millions more claim they’re Irish while caught up in the “Irish spirit” enjoying St. Patrick’s Day parades and festivities).

What is it about the Irish that so connects with people? Here’s this Irishman’s opinion:

1. Humor - The Irish laugh often – and often at themselves. And isn’t everything funnier after a few drinks (one of most Irish-folks greatest strengths)?
2. Storytelling - Have you ever met a true Irishman who DIDN’T have the gift of gab?  Some of the best Irish story-tellers: Yeats, Oscar Wilde, George Bernard Shaw, James Joyce, or more recently Frank McCourt (Angela’s Ashes).
3. Suffering - Potato famine, centuries of conflict & oppression, the cold & constant rain (hey, that sounds like the Puget Sound). How can you NOT root for a people so oppressed?
4. Magic & the Mystical - Leprechauns, fairies, banshee, the pot ‘o gold. It’s all fascinating, and makes you wonder.
5. Pride - If you’re Irish, you’re proud of it, and let most folks know about it. That’s inspiring.

One of America’s currently most famous Irishmen, Brian Buffini, is the founder of America’s #1 Coaching company. He’s trained, inspired and coached millions over the past 20 years. I’ve been a part of his training and coaching program for 3 years. Brian is such a great example of an inspiring Irishman.

Brian often weaves in humor and story-telling in his events & coaching, captivating audiences with stories of growing up, why he emigrated to America, and what a difference his Irish heritage makes for him.

I’ve learned so many things from Brian, but especially something he once said that his father taught him. His father was a painter, as was his father before him. Brian’s father told him: “When you do something, make sure you can ‘put your name to it’.” The Buffini’s family & business reputation hinged on doing a “good job” for people, because everyone knew which homes or buildings the Buffinis had painted. “Ah, that’s a Buffini job,” folks would say.

That really struck me.  Now I continuously ask myself: Can I put my name to what I’m doing?  Am I doing my best? Am I proud of what I’m doing? I am Irish after all, and proud. Maybe his words will inspire you this St. Patrick’s Day: ”Can you put your name to it?”

And now for some Irish fun:

• “Hey,” says a newcomer to the Pub, “ I’ve got some great Irish jokes”.
  “Before you start,” says a fellow at the bar, “I need to tell you – I’m Irish”.
  “Don’t worry,” says the newcomer, “I’ll tell them real slow!”
• How can you tell if an Irishman is having a good time?  
  He’s Dublin over with laughter!
• Q:   Why can’t you borrow money from a leprechaun?
  A:  ‘ Cause they’re always a little short

If you’re looking for a great Irish Restaurants or Pub for St. Patrick’s Day, check out:

• Kell’s – 1916 Post Alley, Pike Place Market, Seattle – www.kellsirish.com
• Shawn O’Donnell’s – 122 128^th St SE, Everett – www.shawnodonnells.com
• Mick Finster’s Pub & Grill – 24001 Hwy 99, Edmonds – www.mickfinsters.com
• Wilde Rover Irish Pub – 111 Central Way, Kirkland – www.wilderover.com
• The Owl n’ Thistle Irish Pub – 808 Post Ave, Pike Place Market, Seattle – www.owlnthistle.com

And finally, an Irish blessing from me to you: “May your blessings outnumber the shamrocks that grow, and trouble avoid you wherever you go.”

Until again, Andy

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“Can’t you feel ‘em circlin’ honey?
Can’t you feel ‘em swimmin’ around?
You got fins to the left, fins to the right,
and you’re the only bait in town.” – Jimmy Buffet, ‘Fins’

In an economy turned topsy turvy, with which-end-is-up news coming out daily, and a seemingly endless parade of graft, corruption, greed, and new stories daily turning up parasitic relationships where there should clearly be walls of propriety, it’s hard to know which way to run. 

As many homebuyers know, buying a home can be a baffling task- and that’s assuming everything goes well. Obviously, as millions of people now know, it doesn’t always end in the American Dream. With a purchase as life-altering as your first home, it’s absolutely essential that you place your trust in an agent who deserves it. Unfortunately, the desire to ‘get a deal’ often overrides the common sense priority of ‘know whom you’re dealing with’.

In the state of Washington, every agent is required to present to a new client, preferably at the first meeting, a pamphlet labeled, “The Law of Real Estate Agency”. It is a 4 page 8.5″ x 11″ (double-sided) masterpiece that lays out the various options for real estate representation, and the duties of an agent in each of the given scenarios. The choices are: Buyer’s Agent, Seller’s Agent, and Dual Agent. As an exclusive representative of either buyer or seller, my duties are;

a) to exercise reasonable skill and care,

b) to deal honestly and in good faith,

c) to present all written offers and other communications in a timely manner,

d) to disclose all known material facts,

e) to account in a timely manner for all moneys,

f) to provide a pamphlet on the law of real estate agency to all parties to whom the licensee renders services, and finally,

g) to disclose in writing, to all parties, prior to rendering brokerage services, whom the agent represents in the given transaction. 

Seems fairly clear so far- If I’m representing either the buyer or seller, we all know which team I’m on, and the rules of the game are laid out. 

However, Washington state, along with several others, recognizes Dual Agency. This is where the lines get blurry. Look at the list of items for an agent on either side, and consider what a & b might look like for a dual agent. What is ‘Reasonable skill and  care’, when the reality is that this deal is only going to benefit the agent?  And how do you deal ‘fairly and honestly’ with two opposing parties?

Think for a minute how you’d feel walking into a courtroom to face the judge. Your lawyer, the guy who’s going to stand up and argue your defense, and whom you’re paying money- probably lots of it- is already in the room. He’s standing beside the guy who’s accusing you of a crime. And they’re talking- about you. Clearly their conversation concerns some aspect of the case, and you don’t know what they just said. A few minutes go by, and the lawyer walks to your side of the room, smiles, shakes your hand, and sits down. He leans in close, whispers a few lawyer comments in your ear, then gets up abruptly to go chat with your accuser again, who is understandably confused by the switching alliances. This is the essential fallacy of dual agency- one person can’t faithfully execute the will of two masters- especially when they’re on opposing sides! Now, assume the outcome doesn’t turn out how you’d hoped- you paid for your lawyer, after all. Who are you going to blame? He said he was a dual agent. You knew up front that he was in this for the money. In fact, his only true loyalty was to his wallet. Did you really expect representation, too? 

But lawyers can’t practice dual agency. Only real estate agents. If lawyers can’t then why should it be OK for the representative of parties to a major financial transaction? That’s an excellent question- I’m glad you asked. Unfortunately, I don’t have a good answer. Several states have recognized that dual agency is a bad idea- the state of New York’s legal counsel even published a memorandum warning of the inherent dangers of dual agency. If you’re a buyer, it’s tempting, but clearly this is a tangle of conflicting interests. 

However, I know of agents who specifically make an effort to ‘double-end’ deals. And I’ve known more than one prospective buyer who proposed just such an arrangement to a listing agent, in an attempt to score a potentially better ‘deal’.  The reality is that this opens up the agent to a wide range of accusations, from accepting bribes, to huge liabilities should the transaction go sour. And there’s no getting around the stain of the ‘appearance of impropriety’ that comes from being involved in a shady deal. 

Do  you really believe it’s possible for one person to maintain the confidentiality requirements of two parties to a transaction? Could you negotiate a deal between two parties, knowing all the details, without divulging any confidentialities to either. Keep in mind that the agent, in representing the seller, already has a written contract that legally obligates him to ‘due diligence’ and loyalty to the seller. He can’t sign a second ‘buyer’s agency’ agreement without violating the first contract. So your representative is ‘representing’ you in name only- his true loyalties having been exposed by his willingness to blur the lines. 

In the interest of avoiding this legal and moral quagmire, our team has adopted a strict ‘No Dual Agency’ policy as one of our founding directives. When making the largest purchase of your life, there should be no doubt who’s on your side.

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