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NOVEMBER 9, 2016
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VOL. 97, NO. 45
Advice to Buyers in a Multiple Offer Situation
Photo courtesy of Getty Images
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Get Prepped for Winter
T
he onset and arrival of colder temperatures means that it’s time once again to brace yourself - and your home - for everything that winter weather threatens to throw at you. From cool, drafty air wafting into your house to friends and family bringing snow and sand inside with them, it’s important to remember the preparation to go through before winter strikes. In order to help keep your home warm, cozy and clean throughout the winter months, follow these seven tips to get started: CHECK THE ROOF With warm days dwindling,
it’s never too early to look over your roof for damaged shingles or other various problems. Because winter brings along cold weather and plenty of precipitation, cracks in the roof can cause major issues down the road. If heights and ladders aren’t your thing, try using binoculars from ground level to check things out. CLEAN THE GUTTERS After the trees shake loose of their leaves throughout the fall, it’s always imperative to keep the gutters clean of debris. If your gutters fill up with leaves and other junk, the runoff from rain and snow has nowhere to go except in
unwanted crevices in your roof. SEAL LEAKS AROUND WINDOWS AND DOORS Caulk is a cheap, simple solution to one of winter’s most annoying little habits - sending cold drafts into your house. Look closely as you check around windows and doors for small cracks then carefully seal up the problem. INSTALL DOOR SWEEPS Another way to keep warm air in and cool air out is to use door sweeps on the bottom of all exterior ➧ PREPARATIONS, Page R2
Harvest Your Own Home Decor W
arm up your home with this season’s trendiest looks. Put your personal touch on your home’s decor with crafting projects that highlight the best of fall: copper detail, animal icons and pumpkins of every color, including white. Create a seasonal tablescape or mantel decoration with these Harvest Fall Lanterns created by the crafting experts at Jo-Ann Fabric and Craft Stores. The lanterns lend a coppery sheen to complement the seasonal hues of the pumpkins and gourds. Place them atop a swatch of soft plaid for a multi-textured look that celebrates the season indoors. For a unique outdoorsy look, piece together a birch wreath using natural supplies such as twig stems, cattail stems and foliage.
Harvest Fall Lanterns, directions on page R4 Photo courtesy of Jo-Ann Fabric and Craft Stores
Find more harvest perfect fall home decor at joann.com. (Family Features) ➧ HARVEST DECOR, Page R4
n a previous column, I offered advice to residential sellers when in a multiple offer situation. Today, I turn the focus to buyers, particularly first time buyers. The recent release of the Case Schiller Report shows that Seattle area home prices are at an all-time high, making this an excellent time to be a seller. At the same time, while Ken Graff interest rates are creeping up, rates are still low enough to make purchasing a home a COLDWELL sound investment when compared to ever BANKER increasing rental costs. BAIN Many first-time home buyers jumping into this competitive market are having to make tough decisions as to how to craft their offers. My first piece of advice to them is to interview experienced, full service Realtors® to gain confidence that the person they hire has the experience, skill and patience to work with first time home buyers. I find that much of my time spent with first time buyers is in the role of coach and educator. While I am happy to invest this time, not all my peers are willing or able to do this. I also advise buyers to avoid selecting limited service brokerages to represent them. Limited service brokerages attract clients with the promise of a portion of the agent’s commission given to the buyer on closing. I understand the lure, but my experience is that there are serious risks with working with this type of business model. I like most experienced Realtors®, are alongside my clients from the initial consultation, to researching the market and touring properties, drafting a successful offer strategy, managing the details, protecting their earnest money, guiding the transaction to a successful close, and helping with issues that arise after closing. At a limited service agency, buyers may work with a few different agents while looking at homes, another agent will write the offer, and yet another will help manage the transaction. I was recently talking with a limited service broker at one of my listings. I asked him why he chose to join his brokerage as opposed to becoming a Realtor and joining a full-service brokerage. He replied that at his firm, he could work when he wanted to and that he, “didn’t have to know anything” about the property. His firm did submit an offer on this listing and it was not competitive with the other others received. My second piece of advice is to talk to an experienced mortgage broker to find out the different options for financing their purchase, or to a financial planner if paying cash. Recently, programs have been introduced allowing buyers to put down as little as 3% of the purchase price. Getting preapproved is essential for a buyer to know what they can afford, and for most sellers to accept an offer they submit. In an ideal situation, buyers attach conditions to their offers that protect and give them an out if issues are discovered. But ➧ OFFERS, Page R3
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Queen Anne & Magnolia News: Home & Real Estate Section
NOVEMBER 9, 2016 | www.QueenAnneNews.com
Bracing Your Home for Cold Temperatures ➧ HARVEST DECOR, from Page R1 doors. A door sweep is a simple device that can be attached to the door frame to help seal the space between the bottom of the door and the floor. REVERSE CEILING FANS While some ceiling fans require flipping blades, most new fans simply have a reverse feature to make the blades spin clockwise. This easy fix can help pull room air upward and cause warm air - which has risen to the ceiling - to be forced back downward. KEEP OUT SAND AND SNOW Rather than sweeping and vacuuming your entryway every evening, place rugs and storage bins close to your front door, garage and any other entrance to the home so that you and your guests don’t track sand and snow into the house when inclement weather hits. STOCK UP ON WINTER GEAR Unfortunately, it’s impossible to know exactly what each winter will bring. Rather than trying to fight the elements on a snowy day to find salt for your sidewalk or a new shovel to clear the driveway, stock up on these items and other winter essentials long before Mother Nature strikes. Winter can be a pain, especially for homeowners, but staying on top of your preparation and being ready for cold weather’s reach can help make snow season easier to handle. For more tips to get your home ready for winter, visit elivingtoday.com. SIMPLE STEPS TO MAINTAIN NATURAL STONE Natural stone adds elegance and style to any home. With a nearly endless array of colors, textures and designs, it’s easy to create a one-of-a-kind look for your kitchen or bath. However, without proper care, that carefully selected natural stone may quickly start to show wear and tear. Not only does natural stone lend a beautifully sophisticated aesthetic, it’s generally regarded as a practical choice because it’s more durable than many other materials. However, granite, marble, travertine and other natural-stone and quartz surfaces do require proper care and attention to maintain that luxurious finish. Keep your natural stone in top condition with these tips from the experts at Granite Gold. 1. CLEAN OFTEN. Even if your surface appears clean, the safest bet is to clean it after every meal preparation. The most miniscule particle could have a detrimental effect on your natural stone. Avoid common cleaners and abrasives. They can break down the protective seal and you could be faced with costly repair or replacement. Also, give special attention to the scrubbing pad you use; many are too abrasive for expensive stone counters and leave unsightly scratches. 2. SEAL FREQUENTLY. Frequently sealing granite countertops and all other natural stone surfaces maintains maximum surface protection, penetrating stone surfaces to provide superior, long-lasting resistance to staining, etching and soil buildup. If you’re not sure whether it’s time to reseal, it’s easy to test. Pour water (about 3 inches in diameter) on the surface and let it sit for 30 minutes. Be sure to do this in several locations, since the integrity of the seal could vary from one area to another. If the water beads, then the stone remains sealed. However, if the stone is penetrated - signified by a dark mark or ring created by the water - it is time to reseal. 3. POLISH REGULARLY. Polishing stone provides two great benefits. First, polishing after cleaning will bring out the stone’s natural beauty. Second, it will reinforce the protective seal and provide ongoing protection against water spots and fingerprints. One time-saving but effective solution after sealing is Granite Gold Clean & Shine, which provides the cleaning power of the line’s Daily Cleaner and the luster from the Polish in one easy-to-use formula. You can find the products nationwide at Walmart, Lowe’s, Home Depot and Bed Bath & Beyond; check the product locator at GraniteGold.com. (Family Features)
Queen Anne & Magnolia News: Home & Real Estate Section
www.QueenAnneNews.com | NOVEMBER 9, 2016
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How to craft offers for first time home buyers ➧ OFFERS, from Page R1 when in a multiple offer situation, to have their offer accepted buyers may have to waive these rights. After a buyer has an offer accepted, they typically must put earnest money into an escrow account. A buyer’s failure to close may allow the seller to claim the buyer’s earnest money. Contingencies (or conditions) in an offer give the buyer the right to have their earnest money refunded if they don’t close and cite one of the contingencies as the reason for not closing. While there are many contingencies available to buyers, the most common ones I see are financing, title, and inspection. Let’s look at these three contingencies and some risks associated with waiving them. Inspection: An inspection contingency allows a buyer the right to have a professional home inspection done and to terminate the contract or ask for seller concessions (repairs or credits) if dissatisfied with the condition of the property based on the inspection. Buyers also have the right to bring in additional specialists such as electricians, sewer inspectors and pest inspectors to further research issues that are pointed out by the home inspector. This is an often waived contingency and the risks are obvious. Before waiving this contingency, buyers often hire inspectors to do a “pre-inspection” of the property. This is a smart plan as opposed to blindly waving inspection, but the buyer must spend money to have this done with no assurance that their offer will be accepted. There also may not be time, or they may not be given permission, to have additional inspections done that are outside of the inspector’s area of expertise. Without this condition, buyers may fail to identify material defects with a property prior to closing. Financing: This contingency conditions the sale on a buyer obtaining a loan and if the buyer is unable to qualify, the contract terminates. Provided the buyer complied with the financing contingency terms, they will have their earnest money refunded. A subset of this contingency is appraisal and some buyers who include a financing contingency may choose to delete it. An appraisal condition allows a buyer to terminate the contract and have the earnest money refunded if the lender’s appraisal of the property is lower than the purchase price, and the seller is unwilling to negotiate the price or provide an appraisal at the purchase price. Without these conditions, earnest money is at risk if the buyer cannot obtain financing. Title: A title condition allows the buyer to review the title report for easements, covenants or restrictions that can impact the buyer’s intended use of the property. If the seller doesn’t cure the buyer’s disapproved title issues, the buyer can terminate the contract and have the earnest money refunded. Without this condition, the buyer may fail to identify issues that will keep them from using the property as they had intended. The bottom line is that it is essential for buyers to work with a top-notch Realtor® who listens to what is important to them, who helps to educate them on what it will take to have an offer accepted, who explains the risks associated with the decisions they make, and who helps them comply with the terms committed to in the contract. Ken Graff is a native Seattle REALTOR® named to Coldwell Banker Bain’s International President’s Circle for his exemplary record of success.
Prepare Your Home for Holiday Entertaining
A
s the holiday season approaches and you’re tasked with hosting family and friends, it can be a little overwhelming to imagine all the work that has to take place for a successful celebration. However, there’s no reason the host can’t join in the fun. To help keep calm and have your home ready for the party, follow these tips. CLEANING More often than not, the first step to readying your home for a house full of guests is to clean. Start by going room to room seeking out trash, recyclables and things that can be stored away anything to clear up muchneeded space. Once the clutter is cleared, work from the top down to clean surfaces, so any dust or debris that hits the floor can be vacuumed or swept neatly away. Remember to steer clear of harsh or highly fragrant chemicals, which may be an irritant to some guests. UPGRADING Don’t try to sneak by with old appliances this time around. Instead, upgrade
your most important resources throughout the house in order to find success when it comes to playing host. For example, swapping out your old, cluttered refrigerator for a Whirlpool French Door Refrigerator with industry-first infinity slide shelves is a useful way to create more space in the kitchen. Its pantryinspired layout lets families fit and find all their edible favorites. Every section, shelf and bin in the refrigerator was redesigned to deliver smart organization with panoramic shelves and unique features to store 30 percent more than other leading French door bottom mount refrigerators. Perfect for a big shopping run before a party, the refrigerator features dedicated spaces places like the Treasure Bin, Platter Pocket and Small Items Bin to give maximum visibility and easy access when it’s time for the food prep to begin. PLANNING Staying organized and having a precise plan are vital to putting together the perfect night with family and friends. Make sure to nail down the specifics, such as the number of guests, what food will be brought, what needs prepared in advance and what can wait until the big day. Making lists and involving others in
the family to help can make a seemingly insurmountable volume of work feel instantly manageable. As you think through your plans, remember to anticipate the unexpected and have an emergency party kit on hand to quickly respond to pitfalls, like spills or broken glass, before they derail the festivities. DECORATING With all the energy you put into planning and upgrading, don’t overlook the importance of taking time to make your home shine with a creative touch. Go festive with holiday-specific decor or keep it classic with timeless decorations placed throughout the home to make it really sparkle. For close family and friends, consider adding personal touches like mementos of holidays past. Or go with a themed approach with similar colors and textures that you carry ➧ ENTERTAINING, Page R4
Queen Anne Top 10 Homes Sold October 2016 Address
Bed
Bath
Sq Ft
Year Built
Days on Mkt
415 W Mercer St #901
2
1.75
2,113
1963
7
Asking Price $1,050,000
$1,015,000
Sold Price
Sold Price/ Asking Price 96.66%
100 W Highland Dr #422
2
1.75
1,339
1921
6
$899,000
$1,030,000
114.57%
2233 12th Ave W
4
2.5
2,980
1990
7
$1,049,000
$1,049,000
100.00%
1936 8th Ave W
3
2.25
2,009
2016
237
$1,099,950
$1,050,000
95.54%
806 W Crockett St
4
2.5
3,050
1909
67
$1,149,000
$1,149,000
100.00%
1614 5th Ave W
4
1.75
2,160
1903
9
$1,150,000
$1,160,000
100.87%
2505 Nob Hill Place N
3
2.25
2,350
1929
7
$995,000
$1,174,000
117.98%
2008 Nob Hill Ave N
5
2.75
2,540
1907
8
$1,080,000
$1,216,000
112.59%
2519 6th Ave W
5
2.5
3,440
1909
10
$1,349,000
$1,375,000
101.92%
2441 Queen Anne Ave N
4
4.5
3,430
2005
5
$1,644,000
$1,700,000
103.41%
Magnolia Top 10 Homes Sold October 2016 Address
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Asking Price
Sold Price
Sold Price/ Asking Price
1611 29th Ave W
3
1.75
2,140
1951
6
$700,000
$845,000
120.71%
3307 36th Ave W
3
1.75
2,420
1946
4
$795,000
$860,000
108.17%
3806 36th Ave W
4
2.75
2,880
1909
7
$839,000
$915,000
109.05%
2658 W Dravis (entrance on 2nd)
4
3.75
2,780
1927
10
$960,000
$970,000
101.04%
2819 W Elmore Place
3
2.75
2,163
1947
35
$1,165,000
$1,081,000
92.78%
3418 28th Ave W
4
3.5
2,870
2002
7
$1,150,000
$1,130,000
98.26%
2507 Crane Dr W
4
2.25
3,500
1987
114
$1,295,000
$1,295,000
100.00%
2441 Crane Dr W
4
4
3,690
1939
16
$1,499,000
$1,425,000
95.06%
5656 42nd Ave W
4
3.5
2,630
1973
33
$1,499,000
$1,475,000
98.39%
4120 W Armour St
6
3.5
5,510
1952
50
$1,700,000
$1,695,000
99.70%
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Stewart KarStenS 206-601-3421 www.stewartkarstens.com
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Queen Anne & Magnolia News: Home & Real Estate Section
NOVEMBER 9, 2016 | www.QueenAnneNews.com
Seasonal Decor
➧ HARVEST DECOR, from Page R1
HARVEST FALL LANTERNS Skill level: Beginner Crafting time: 3-5 hours
SUPPLIES AND TOOLS: 2 boxes fall pumpkin and gourd decorations 1 bottle (2 fluid ounces) cloud white paint Black sponge paint brush 2 metal and glass lanterns Hot glue gun and sticks
Holiday Entertaining doesn’t need to be stressful
DIRECTIONS: 1. Select two pumpkins to paint white. Paint them and let dry. 2. Choose multiple sized pumpkins and gourds and attach them to the inside bottom of each lantern with hot glue to begin building a design. Add more pumpkins and gourds, and glue them to each other. 3. Insert leaves and berries to accent pumpkins and fill in any empty spaces.
➧ ENTERTAINING, from Page R3
BIRCH WREATH
advance. This way you won’t have to worry about running to the store just moments before guests arrive. Set the table the day before: Organizing where you can, such as setting out plates and silverware in advance, allows you to focus on preparing food and drinks on the day of the party. Unless you’ll be using fresh cut flowers, go ahead and complete the centerpieces and any other decorative touches the night before, as well. Make a party-night cheat sheet: Keep a checklist nearby so you don’t forget about any of your delicious courses or what tasks need completed throughout the evening. Remember to include items like refreshing the ice bucket and swapping out buffet dishes or appetizer platters periodically. (Family Features)
Serving Seattle for 34 Years! Computer Aided Kitchen and Bath Design Available
Skill level: Beginner Crafting time: 1-2 hours
SUPPLIES AND TOOLS: Burlap garland Dark brown raffia Florist wire (22 or 24 gauge) Burlap-wrapped wreath Hot glue gun and glue sticks Wire cutters Beige twig stems Brown floral tape 2 pinecone pick stems 2 onion grass cattail stems 5 fall leaf foliage 5 bags medium birch rounds DIRECTIONS: 1. Craft bow out of burlap garland and dark brown raffia. Wrap wire around middle of bow and poke it into burlap wreath in desired location. Secure with hot glue. 2. With wire cutters, cut twigs to length and tape together with brown floral tape. Add pinecone stems to twigs and tape together with floral tape. 3. Wrap twig and pinecone stems with wire and poke wire into wreath under bow. Use hot glue to secure. 4. Add cattails and fall foliage to accent. Attach to wreath in desired locations with hot glue. 5. Cover remainder of wreath with birch rounds using hot glue.
Serving Seattle Neighborhoods & Beyond
PE
Paul Hayden Kirk Home $2,800,000
Ballard/Crown Hill Location: 8055 15th Ave NW
206-789-3205 www.morgansonline.com
Bright Magnolia Condo $469,000
Built in 1957 and brilliantly remodeled in every way with incredible finishes, this home offers one of a kind, spectacular sound and mountain views. Solitude and tranquility abound in this coveted 16,500+ square foot lot with magnificent grounds. Perfect for entertaining.
Cheerful end unit with excellent light from windows on 3 sides in choice brick building in Magnolia Village. Easy walking distance to grocery stores, shops and transportation. Fireplace in living room, separate dining area, remodeled kitchen, 2 bedrooms, 1 3/4 baths.
Laurie Boyd • 206-617-7391
Carol Batchelder • 206-909-7718
LAKE UNION 206-283-5200 | 1200 Westlake Ave. N, Suite 406, Seattle, WA 98109 cbbain.com/lakeunion
I ND
NG
View Condo in Lower Queen Anne $230,000
The Seaview Condo is one of the few art deco pre-war buildings in Seattle. Unit #409 is a perfect example of the stunning vintage details offering fabulous top floor views, hardwood floors, restored kitchen with original details, and walk-in closet. Team Diva Real Estate • 206-271-0264 teamdivarealestate.com
MAGNOLIA 206-283-3604 | 3300 West McGraw St, Seattle, WA 98199 cbbain.com/magnolia