Hot Spot In The Market

Inspired by a critical comment on my last "post" (virtual tour of cute house in Blaine) I decided to write something that others might care about (well, at least others interested in real estate).

In today's news of down markets and declining real estate values, I was quite happy the other day to uncover a seller's market! Yup - I actually found one...No, it wasn't across the border (though it was close)....Wasn't in the Mediterranean or even in Semiahmoo. It was right in Blaine - area 880, Blaine - not Birch Bay, not Semiahmoo, not Custer - just lovely little Blaine. But, before I tell you about this seller's market, I first want to explain what I mean.

I tend to look at real estate a bit differently than the average agent. After all, real estate is a commodity sold on the open market and the value of any given home is determined the moment a buyer agrees to buy a house and a seller accepts the offer. That's the "value" of a home. So, I like to think of the market as one of three things - 1. Buyer's Market, 2. Balanced Market or 3. Seller's Market. Most of you reading this are familiar with these terms. Most of you also know that I always say real estate is LOCAL (not just Washington v. Florida but Lettered Streets v. Cornwall or even homes priced at $700k v. $750k in the same neighborhood - now that's local).

When a segment of the market (you chose the criteria) is absorbing less than 45% of it's inventory at any given time, I would classify that as a Buyer's Market. When 45%-55% of homes are finding buyers, neither the buyer nor the seller have any real advantage and I call that a balanced market. When more than 55% of homes are finding buyers, the seller has the advantage - thus, a seller's market. Not rocket science but stay with me....

The area of Blaine has been selling between 11%-15% of it's inventory at any given time this summer. That's a buyer's market (and a strong one at that!) Snap shot picture of last week's market: 6 homes priced from $225,000-$275,000 found buyers in Blaine (i.e. they were pending) - of those, 4 were priced between $249,000 and $250,000. That means that 67% of the homes purchased were within $1000 of each other. Not only that, the market absorbed/purchased/consumed ALL BUT ONE HOME IN BLAINE PRICED BETWEEN $249,000 AND $250,000. Onlyt one was left. This left a huge gap in Supply and Demand. Some of those homes that sold had been on the market for a year! In the previous six months, ONLY TWO homes priced at $250,000 had sold...That price range in Blaine was a buyer's market...buyer's market....buyer's market and BOOM it became a HOT seller's market! Nearly 100% of the homes in Blaine priced between $249,000 and $250,000 sold - SELLER'S MARKET! Now that's looking at real estate on a local level.

When I work with Buyer's and Seller's I can use my Holistic Market Analysis Approach as a way to find either strong or week parts of the market - they are always out there - you just have to uncover them. Now, that's not always the most important part in the purchase of a HOME but it can help one understand the market and can provide relevance and fact to an often-chaotic process.

Hope That Adds Value:),
Emily

Blaine Craftsman Cutie - Click For Visual Tour

Code of Ethics - Continued

I love this picture - it's such a lovely parent-child image that we can relate to. And it reminds me of an opportune time for a parent to talk to a child about important matters, ideals, morals etc. ( you know what I'm talking about - the "talks" parents give their children during adolescence...). Well, my next topic in the Realtor Code Of Ethics is a lesson we hear about at a very young age and it is...The Golden Rule. (Now, if you were a parent, might you want to instill in your children the value of the Golden Rule? And, if you were a client buying or selling a home, wouldn't you hope that your agent was BOUND to abide by the Golden Rule?) Well, if they are a Realtor, the are!

I refer to the Code of Ethics Preamble once again, this time in the last paragraph following lengthy descriptions of a Realtor's duty to their industry, their acquaintances, their environment (you didn't think I'd let that one slip did you?? :)), their customers, their clients AND their fellow Realtors (yup, the competition!) Here's what it says, "In the interpretation of this obligation, Realtors can take no safer guide than that which has been handed down through centuries, embodied in the Golden Rule, 'Whatsoever ye would that others should do to you, do ye even so to them.'" So there you have it - Mom and Dad WERE right! The Golden Rule IS important! In fact, it is SO important that it is in our Code of Ethics. We are obligated to "play nice in the sandbox". Gosh, does that feel good!

-Emily

Realtor Code Of Ethics Preamble

The Code of Ethics and Standards of Practice of the National Association of Realtors is a brilliant, and I mean brilliant, document. My next few blogs will be spent looking at some of my favorite elements. First and foremost, when reading the Code, it's important to remember that it was first adopted in 1913 - a date in time when NOT everyone had the legal right to own property! When you recognize that, the document becomes even more brilliant.

The statement I want to discuss today is in the preamble of the document and it states "Realtors should recognize that the interests of the nation and its citizens require...the preservation of a healthful environment." WooHoo!!!! Hello - Brilliant!!!! (Yes, by the time I'm done writing this blog, you will be tired of the word brilliant.) In 1913, someone recognized that the stewardship of our environment, and the health of our Earth (in conjunction with many other elements being saved for many other blogs) was directly related to the health of our nation and it's citizens as it relates to real estate. Further, it says that I, as a REALTOR, have a "PATRIOTIC DUTY" and and "GRAVE SOCIAL RESPONSIBILITY" to uphold these interests. (Brilliant - yup - you guessed it - brilliant).

So, it's curious to me why our industry, despite its huge carbon footprint, isn't more pro-active in regards to reducing the environmental impact of the real estate business. It's in "The Code" after all...

I don't know the right answer - maybe some of you out there have thoughts. Yes, the other "green" (i.e. money) might get in the way...or perhaps its simply about education and having the right tools to work in a manner more respectful to our planet...I don't know.

I stumbled across a web-page yesterday - www.listedgreen.com which is an MLS for Green homes and I spoke with the founder of the company, Dave Syring, and he seemed to think (after his experience at the National Association of Realtors Convention and after speaking with builders/developers) that it's not "cool" yet and people are worried about being labeled "green". They are fearful there's no money in it (oooh - I think I just stumbled on to a new term - the Green War - the battle between green money and green trees - or something...I digress).

Then, there's the phenomenon called "greenwashing" which is the opposite of what Dave described to me on the phone - it's diluting the power of green (like can a 10,000 square foot home really be green???).

It will be interesting to see if the NAR grabs this part of the Code and continues to be a progressive leader, as the Code suggests it can do quite well. Or, will, the "grass roots" green movement be ahead of the curve...I think it remains to be seen - and will be interesting to watch.

In the mean time, I'll continue to work in my own little way in my own little town!

Cheers!

Emily

Thanks, Friends

Occasionally, we all need a little kick-in-the-pants to keep ourselves going, especially those of us who are self-employed! Anyone who visits my blog regularly is, well, probably not visiting any more - and why? Because I haven't been here either! My last post was in NOVEMBER - Ugh! My friend, and a lender, Brian Psaradalis called me today and said, "you know, I enjoyed your blog - what happened???" Brian - Thanks for the reminder - I'm BACK!!!! And I'm Blogging!

Some of you may recall my blog about joining Denise Lones's EVOLVE coaching session. Yesterday was our second meeting and I tell you what - there are some amazing, and I mean amazing, agents in this state. When I say amazing, I don't necessarily mean financially successful or brilliant in business (though they are) but I mean amazing humans! I was overwhelmed yesterday with the helpfullness, kindness, and graciousness of my piers towards everyone in the room. The support and friendships yet to be forged among all of us will be powerful, life-changing and educational.

This foray back into blogging is short and simple....and sweet. Thanks for the reminder that I need to be here:)!

I have a new favorite "sign-off" thanks to a client of mine -

Take and Give Good Care,

-Emily

Wrapping It Up - Keep Christmas Green

As we rapidly approach the holiday season, I ask that we all remember, and remind our friends, family, neighbors and co-workers, how to have a happy and festive eco-friendly year-end.

Some Tips:

1. If you have small children or children who enjoy crafts, get large sheets of Kraft paper (100% recycled) or old packaging paper and color or paint or stencil or stamp or whatever - relatives will LOVE the hand-made paper from their favorite little people; instead of using wrapping paper AND coloring/Kraft paper - combine the two!

2. Re-use last year's materials, if you still have them, and if not, save this year's for next year!

3. Use wrapping paper to wrap up your fragile ornaments when packing up the tree.

4. Recycle your Christmas tree when you're done with it. Don't put it in a land-fill!

5. Send out E-Christmas Cards instead of paper ones (save the environment AND your pocket book:))

6. Limit the amount of lights you put out and how frequently you leave them on.

7. When you go shopping, bring your own re-usable shopping bags.

8. Looking for the perfect gift for the person who has everything??? Low on your Christmas budget??? For $6, you can buy a tree on someone's behalf through the Arbor Day Foundation. Plant a forest, if you want:)!

According to RealSimple, in the United States:

1. Household waste increases by 25% (!!!) between Thanksgiving and New Years.

2. Trash from wrapping paper and shopping bags totals 4 MILLION TONS during the holidays!

3. The US Postal Service delivers 20 BILLION cards and packages between Thanksgiving and Christmas. SEND E-CARDS instead!

There are many other ideas out there - let's share them and make this month, a green month:)

Holiday Roots - The Best Gift EVER (EVER being in all caps in honor of my kids who LOVE that word!!)

Emily

A Realtor Gone Green!

Last night, my husband and I watched a You-Tube video about the "Al Gore" debate and the reporter stated that we don't really know if it's a problem that there's global warming and we don't really know if it's humans to blame....Hmmm. Well, I'm not a scientist and I certainly don't care to debate the finer points of the influence of humans on Earth, environmentalism or the future of the Earth...But, I do know this. We are living in a society of consumerism! We live in a society where bigger is better, newer is brighter, and packaging sells. I do know that there are a lot of trees cut down, oil burned, a lot of toxins dumped into our water and ground, a lot of water wasted, and a lot of trash created. And, I don't care what your point of view is; how can that be good???! It just seems to me that if we all treat our environment - local and global - with respect and honor, that if we all choose to live responsibly, well it just makes sense and you don't have to agree, or disagree, with the political and scientific debate that is unravelling.

I've blogged about this before and so forgive me if you're bored but real estate is NOT a "green" industry in any way, shape or form. It drives me crazy how many sheets of bright white paper we use, business cards, contracts, flyers, vinyl signs etc. etc. etc. The National Association of Realtors, to which I proudly belong, is one of the most powerful PAC's in the Nation and I would love to see them embrace the "greener" side of life. But, I am just me...just little Emily in Blaine Washington...and, as my former business partner used to say, I can only make a difference in my own little "puddle." So, that's what I'm going to do...

I have all of my pretty bleached white paper, bright white vinyl binders, plastic tab dividers etc. loaded up in to my car and ready to be returned to Office Depot (sorry office depot - it's not personal - you guys are great). I have ordered reams of 100% post consumer paper from Bison Bookbinding in Bellingham. I have ordered 100% post consumer binders, dividers and notebooks from SustainableGroup.Net in Seattle.

These little things seem so simple, yet it took me quite a while to figure it out...You don't have to be a "tree hugger" or a "hippie" to respect our environment. I mean, it just makes sense, right? I feel so good about my decision to buy smart. Am I perfectly green? Well, no! Not even close but I'm trying - I'm open to suggestions - I want to do well by my planet...After all I have two young sons who will inherrit the earth I care for.

Comments? Suggestions? Thoughts?

Please share. After all, it's our roots we're talkin' about!

-Emily Cross