In response to a recent blog in Inman News, agents were asked to respond to this question. Click on the link below for the full story.

Submitted by Anna Novikoff on March 28, 2008 - 11:35am.

Information is Power -
To paraphrase the old saying, “Knowledge Is Power”. Consumers today have more access to information about real estate than most people have time to digest - let alone absorb - to the level of competency of a real estate professional. Unfortunately, there’s no substitute for wisdom and experience in any profession.

Wisdom and Experience Pay Off -
Your first real estate purchase, if handled properly, is your stepping stone to financial independence. It has been said that homeowners retire with security but those who own multiple properties retire with wealth.

An Ongoing Relationship -
Establishing an ongoing relationship with a qualified real estate broker is key - much like establishing a long term relationship with a trusted advisor such as an insurance agent, family attorney or financial planner. The wealthiest people don’t “do it themselves”.

Skillful Pricing and Negotiation -
The 2 most important skills a real estate professional can provide are skillful pricing and negotiation. Proper pricing is part art and part science combined with intimate knowledge of sales and trends in a given area over time. This depth of experience is not easily learned over the internet.

Real Estate Pays Dividends -
Yes, motivated buyers and sellers can, and should, do the legwork to scope out the type of property and neighborhood they prefer or watch the sales trends in their neighborhood before calling in a broker to work with. A skilled broker can translate pertinent real estate data into information and provide an integrated solution for pricing and marketing the property to maximize your profit or provide solid statistics and historical data to validate your offer to purchase.

Time Is Money -
The basics of advertising, holding open houses, writing and printing flyers and mailings and being available at all times to show the property are tasks that many people are willing to take on. In the tech industry, some people are the architects, some are builders, others test and the last group integrates. Rarely does one person encompass all of these skills successfully. Your broker should be the professional “implementer” for your real estate investment goals.

Anna Novikoff
ek Real Estate Group
www.ekreg.com
www.condomaximums.com

http://www.inman.com/blog/2008/03/27/why-use-agent-age-old-question-attracts-techies

For those interested in what the downtown Bellevue condominium trends are, here’s a link to today’s Seattle Times article highlighting the recent influx of Gen X/Y, high-tech residents. Many are populating the newer rental buildings and many others have taken the plunge into the high-rise condominium market.

Let me know your thoughts.

http://seattletimes.nwsource.com/ABPub/zoom/html/2004274488.html

Longtime Bellevue residents may remember Old Main Street as the original “main drag” dating back to before the turn of the 20^th century but things have certainly taken a new turn in the past 10 or so years!  Starting in the mid ‘90s, Main Street’s first luxury mid-rise, THE MCKEE Condominium, came into being. An exceptional complex punctuated with elegance and sophistication, The McKee grew to be a three phased complex which includes PARKSIDE at THE McKEE on NE 1^st St. as well as a row of tri-level townhomes – all surrounding a lush courtyard. Depending on location within the complex, views can overlook Downtown Park, the courtyard or Lake Washington. One unique aspect of the Parkside phase is the 2 story penthomes – each with private rooftop patio area! The McKee’s amenities include an elegantly appointed lobby with stone fireplace on Main St., equipped fitness center, fully furnished club room with kitchen (for throwing fabulous parties), outdoor heated lap pool and jetted spa and a furnished guest suite. The exterior was recently replaced with a state-of-the-art surface.  As with 2 new construction complexes close by, The Vue at Meydenbauer and One Main Street, The McKee’s location can’t be beat. Within just a few blocks, you can enjoy a variety of exciting shops and restaurants such as Gilbert’s Deli for authentic New York style deli  (and beyond…) fare. A few doors down, sample chocolate delights at Fran’s Chocolates or take a break at Belle Pastry.  For an exceptional dining experience, there’s the highly rated Bis on Main or Salute where evenings of live opera, flamenco or piano music can be enjoyed along with your meal. Nearby, a visit to Ming’s Asian Gallery is a great place to pick up that perfect accent piece for your condominium home. To find out more about the Eastside condominium market or have available listings emailed to you as they become available, contact me at annan@ekreg.com, visit my website at www.condomaximums.com or give me a call at 425 466-1324

Ever since the completion of One Lincoln Tower - downtown Bellevue’s first high rise condominium since 1995 – the rush to be part of the “high rise” crowd has been unstoppable!  It seems like many buyers have expressed interest in owning a piece of the ever expanding downtown Bellevue skyline with its exciting mix of shops, restaurants and activities. Homes under construction in Bellevue Towers, European Tower, The Braven and Washington Square will be well worth the wait but what if you want the high rise lifestyle now? 

BELLEVUE PACIFIC TOWER had, until recently, been Bellevue’s only luxury high rise complex. Known for its elegant lobby and resort style amenities, Bellevue Pacific Tower has been the choice of discerning homeowners looking for the “right” address on the Eastside. A cool, zen-like ambiance greets you and your guests along with the added security of  24 hour concierge service. Homes from the 7^th through the 24^th floors have a wide variety of floorplans – many with of Lake Washington, Mt. Rainier or sparkling downtown views.  

Homeowners can enjoy amenities such as an indoor heated lap pool and spa, sauna, fully equipped exercise facility with locker and shower facilities, activity center for group or private use, garden room and terrace on the 11^th floor as well as a workshop area to tinker and build!  

Bellevue Pacific Towers’ many multi-cultural and international homeowners don’t have to go far to enjoy a selection of nearby restaurants to suit any taste. Just across the street, there’s the very popular revolving sushi emporium, Sushi Land and, for a more upscale experience, chef John Howie’s renowned Seastar Restaurant and Raw Bar. Feeling like a change of pace? Try The Melting Pot for fondue. Of course, to look your best for an evening on the town, you might want to visit the nearby Bellevue Galleria for an appointment at the Gene Juarez Salon. 

 To find out more about the Eastside condominium market or have new listings emailed to you as soon as they become available, contact me at annan@ekreg.com or give me a call at 425 466-1324.  

 Fall is here and for some sellers, pricing a property in this changing market is spookier than a Halloween
goblin! Some try the “Do it yourself” method of seeing what their neighbors’ homes sold for in the past year and add another 10-20% “for good measure!” Others tried but did not keep abreast of absorption rates for their price range and adjust accordingly. Still others didn’t take into account that, even though we are in a balanced market (compared to a seller’s market) it takes more time, money and expertise to sell. 
   Although sellers sometimes want to “test the waters” with a higher price and then reduce it if they don’t get a sale, this is not a good strategy in the current market. Prices have been stabilizing and not necessarily increasing. If you choose to overprice your home, you’ll lose valuable market time so when you do price to sell, the “sell” price may have decreased and you end up with a lower sales price than if you priced your home correctly to start!
   Selling is serious business!  As your WINDERMERE“Condominium Specialist”, I’ll guide you with “on target” pricing based on current
statistics and implement innovative marketing techniques geared to today’s market! I visit all competing properties before and during the listing term to give you my professional assessment of your competition and suggest strategies to make sure that you’re a SUCCESSFUL SELLER! 

 Welcome to Condobloggin’! This blog is created as a forum for Eastside and Seattle condo owners and would-be owners to discuss the features that they love, like or dislike about their current or former condominium homes or ask questions about condominium communities that they are interested in living in. 

What’s Happening? 

 It seems like just yesterday that any property that came on the
market was not only sold in record time but also for a record price - many times with multiple offers! If you’ve been watching the market in preparation for selling your condominium home, you may have noticed that there are more and more properties available with “For Sale” signs staying up for months instead of days!
   Like all cyclical markets, real estate adjusts to prevailing conditions in response to supply and demand - with the addition of mortgage availability thrown in for good measure! Although our area is still in a positive appreciation mode, (unlike many parts of the country), there are several factors that need to be understood to properly position your home for the most profitable sales experience! As your WINDERMERE “Condominium Specialist,” I’ll review recent sales ratios and absorption rates for similar properies to show you not only where the market has been but where it is headed! You’ll see why some properties are selling quickly while others, in a different price range, may take far longer to sell.
   With my guidance and 20 years of expert condominium marketing experience, you’ll have the advantage of being able to negotiate with a buyer from a position of knowledge and solid factual information instead of “wishful thinking!”

Let me know what YOU  think!

Future topics might include:

Amenities-what do you want vs. what do you actually use?

Rental caps-good, bad or indifferent?

New Construction-initial expectations vs. reality?

Or any other issues that you may find of interest to other Condomaniacs. For other ideas and topics for discussion, you might want to read my Newsletter, “The Next Step” at http://www.condomaximums.com.preview.z57.com/custom3.shtml