Vancouver Wa Real Estate - Elite Realty NW

As a real estate agent here in Vancouver , Washington, I often get this question:

What is the difference between Green Building and Sustainable Building?

Here is the answer as defined by Earth Advantage in Portland, Oregon:

Green usually refers to a product or practice that requires less resources and has fewer negative impacts on the environment than its conventional counterpart. Sustainable in its strictest sense is a higher standard than green and refers to a product or practice that is forever renewable and has no harmful impacts on the environment or the people that provide or manufacture it.

Photo: noticias-tic

As members of the real estate community, we find ourselves responsible for educating most of the population on Green building practices. The simple fact is that most people don't give a whole lot of thought to green or sustainable building until they start their search for a new home. There is a good chance they will be with a realtor when they start that search.

Here  are a few tips that I have learned while working with clients who are curious about "that whole Green Building thing."  Please note that in this post I am not addressing clients who may already have a Lifestyle Of Health And Sustainability. (LOHAS) Those folks already have a deep understanding of Green and Sustainable building. I am focusing on people who may have heard about this type of building and are curious as to what it might mean to them.

Consider the homeowner's perspective and what they traditionally want from a home. The average homeowner is usually looking for a home that provides comfort, health, and safety at a reasonable cost. Increasingly buyers are finding that green features can enhance all of these things.

Here are a few ways that I translate green home features into the homeowner's experience.

Energy Efficient - more comfort and lower utility bills.

Water efficient - lower water and sewer bills.

Good indoor air quality - a healthy place to raise a family.

Durable - a long lasting and easy to maintain home.

Made with non-toxic materials - better personal and environmental health.

Environmentally responsible with reduced impacts - reflection of environmental values and protection of the Earth for our children's future.

Often times buyers want to be green in their hearts but end up making their buying decision based on their pocket book. These translations may help you to convince your clients that they can be both environmentally friendly and still take care of their wallet.

Good luck and STAY GREEN!

Photo by vancanjay

ECO-Terrorism in Vancouver, Washington?


I found this yesterday on the side of a new home being built here in Vancouver, Washington. While I applaud the message, I can't condone the method. Also, I can't help but wonder if the culprit used low VOC paint with a HVLP sprayer to minimize any unnecessary pollution during the caper! Before any of you start accusing Vancouver, Washington's first "Green Certified" real estate agent (me!), no, I didn't do it and you can't prove anything anyhow! Just kidding!

Stay GREEN!

Mark VS. The Deer - AKA The WAR of the Roses in Vancouver, Washington

 As a real estate agent here in Vancouver, Washington writing a Real Estate Blog, most people would expect me to blab on and on exclusively about real estate, real estate trends, and real estate related topics here in Vancouver, Washington. Of course, if you were to talk to my family and friends, they would be happy to tell you that I would never be able to stay focused that long and before too long I would wander off in search of shiny objects that have caught my attention. Rather than fight these tendencies, I have chosen to embrace them! You will be able to tell when I am WANDERING when you see my signature tag below. This is my way of making friends and having fun.

One of my most "favoritist" things about my part of Vancouver, Washington is the wildlife. On any given morning, I can look out the window and see a variety of animals enjoying our yard. Bunnies and squirrels roam the yard just like pets. Thousand of finches in a rainbow of colors have taken up residence in a large plum tree just outside my office window. I am constantly pulled away from my work by the bright hues and playful nature of the little birds. A family of 5 deer (is a family of 5 big enough to call a herd?) have selected our yard as one of their premier hangouts. Often grazing in the greenbelt that surrounds 2 sides of the house or laying in the shade of our apple tree. We often see them eating apples right off the tree. They usually get the low hanging ones, leaving the higher ones to ripen for us. Recently, our 4 legged guests have started to wear out their welcome; they have started to raid my rose garden! It seems that the new deer delicacy in Vancouver, Washington is very well cared for rose blooms.

Now any one with a first grade education can tell you that a rose bush without any roses is nothing more than a thorn bush! That is exactly what my rose garden is right at this moment. A thorn garden! Lots of stickers and no pretty flowers. BTW, the wonderful rose fragrance comes from the flowers, not the thorns. No pretty smell either!

So, what is there to do? Here is a brief summary of how this battle stacks up:

Me:
Real estate agent in Vancouver, Washington.
Certified Negotiation Expert (CNE) who has successfully Negotiated tens of millions of dollars worth of real estate transactions here in the Vancouver, Washington area.
Member of the Agent Leadership Committee at Keller Williams Realty in Vancouver, Washington.
Earth Advantage S.T.A.R. certified real estate agent. As one of only ten in Washington, this fact may be more of a hindrance than an advantage; as a "Green Realtor" can I really use force to chase them out? No chemicals either.

The Deer:
There are five of them. (I am outnumbered.)
The two males have antlers! Large male has 4 points per side.
They can easily jump our fences. (I have to use the gates)
They all have hooves.
They are as cute as a button! If my family were to vote, the deer would easily win over the roses. Heck, if the vote were between the deer and me, the deer would probably win!
The fawn gets extra credit points for cuteness!

As outmatched as I am, I am fully prepared to wage war. Of course, if I lose, I could always plant hydrangeas next year. I have noticed that they don't seem to like hydrangeas!

Janice and I went on a listing appointment last week with a past client of ours who is needing to sell her home. She has been there for about 2 years and the ARM on her Vancouver, Washington home is adjusting soon. The new rate will be out of range for her and she is thinking about selling the home before she gets in too deep.

Of course, our first priority was to see if there was a way to help her keep her home. We put her in touch with our preferred Vancouver, Washington lender, but with the current rates, he wasn't able to help.

She decided to hold off on listing the home until she was able to meet with an attorney to discuss any options that she may be overlooking. She called me the morning after meeting with the lawyer and told me that she has decided to let the bank foreclose on the home rather than attempt to sell it. She explained that the attorney had recommended this course of action in order to avoid any tax liabilities or judgments against her in the future.

I couldn't have been more surprised. I know that it seems like the market is crashing down around us but our Vancouver, Washington real estate market has been in the top 10% of performers in the nation. After hearing this, I have to wonder how many of the foreclosures around us are voluntary. I can't imagine anyone choosing to put themselves through this but maybe it is happening more than we think.

I also have to question the tactic for people who are really in need. Is a foreclosure better on the credit record that a short sale. It seems that some sort of note referring the Negotiated Debt Settlement would be more favorable than the much dreaded FORCLOSURE.

photo by Editor B

On a follow up call with a mortgage banker friend of mine the other day in Vancouver, Washington, I asked him about a couple who he had referred me to a month or so back. To protect their identities, I will just call them the Jones family. At the time, they were in search of a new home in the Vancouver, Washington area. They did the right thing and contacted a lender (my buddy) to find out how much they would qualify to borrow and to get pre approved before they started their search.  He learned that they didn't have a real estate agent yet and he referred them to me. I spoke with them once and they told me that they had already found an agent who was working with them to find their new Vancouver, Washington home.

That was the last that I had heard from and they cut off contact with my lender friend for a little over a month. Then, one day out of the blue they returned his call and told him the great news; they had found the perfect home, made an offer, and were in a contract. Best of all was that they did it all by themselves without the aid a real estate agent. My friend congratulated them and then asked them why they didn't use an agent.

Mr. Jones gleefully told him, "It is a for sale by owner and they wanted $350,000 for the house. We got it for $330,000 because we didn't use an agent! We saved $20,000."

When my friend asked if the seller was paying any closing cost, they responded, "No, it is a great deal without them paying closing costs."

Here is the summary of what happened: The Jones family found their perfect Vancouver, Washington home which was a FSBO. The owner wanted $350,000 but told them he would accept $330,000 if they didn't use a real estate agent. They took it "hook, line, and sinker!" Good thing there was a bank involved because two weeks later it only appraised at $308,000. Mr. Jones, being the STELLAR negotiation expert that he is, convinced the seller to bring the price down to $315,000 and asked the bank to reappraise the property. They pointed out to the bank that the home had a new roof, fresh paint, and a remodeled kitchen with granite counters. The buyers had a 20% down payment so the appraiser squinted his eyes really hard and stretched the value to $314,000 which the seller accepted.

After hearing the story, I comp'd the home myself. The appraiser wasn't squinting to get that value, HE WAS BLIND! That Vancouver, Washington dream house wasn't worth one penny over $304,000!

Not only did they over pay by at least $10,000 but they never even asked the seller to contribute to their closing costs. In this market, how could buyers ever fall into this trap?

Photo credits:

Castle - Magda

FSBO - Casey Serin

When I was a kid, maybe 9 or 10 years old, there was an old timer in my neighborhood who would wave at everyone he passed on the street. I remember it as if it were yesterday; a powder blue late model Dodge, stock hubcaps, and the driver's window always rolled down. If he was passing a group of us kids he always flashed us the, ever so cool, "peace sign." We would always laugh and we would always wave back. I remember seeing him year after year until I grew to be an adult and finally moved away. One day about the time I turned 15 the peace sign turned to a friendly wave as he passed me on the street.

For some reason I have picked up this habit. Janice and I live in a Vancouver, Wa neighborhood called Felida Knolls. The are 30 or so homes in the neighborhood with an above average number of kids. There is always someone out. Neighbors gardening or washing their car, kids playing on the street... Since we primarily office out of our home, we drive in and out of the neighborhood many times a day. We probably wave at 10 to 12 of our neighbors on any given day! Jokingly, I refer to it as the "Mark Hall World Tour. Making Friends everywhere I go!" Some days, if I come home when our next door neighbors are out, mom, dad, and all three kids, line up to wave. I feel like I am in a parade!

A few days back, the phone rings and it is one of our neighbors who lives around the corner. He wanted to talk to us about listing his home for sale. I asked him how he decided to give us a call and he said, "You guys are the two who wave to everyone in the neighborhood! Everybody knows you."

Photo by Jimw

Most people here in Vancouver, Washington are not aware that there exist 3 major sources for getting a mortgage on their new home:

1)     Retail Banks

2)     Mortgage Brokers

3)     Mortgage Banks

There are distinctions for each and you should know these before you start shopping for a home loan.  With rates rising, it's very important that you have the best mortgage source available as you look to buy Vancouver, Wa. real estate.  Here are the differences:

Retail Banks -  When you purchase a new car, do you expect to pay the lowest price by walking off the street into a large dealership?  Usually not.  Each major bank does do home loans, however you will pay ¼ - ½% more on the rate when fees are matched up with a Mortgage Broker or Mortgage Banker.  Retail banks will normally be the most expensive source of funds. Mortgages aren't their specialty and they don't have access to many programs that may be a better fit for you and less expensive.

Mortgage Brokers  - Most Loan Officers today are Brokers, which mean they put borrowers and banks together after shopping their list of connections.  Due to volume, they can get the same loan from a retail bank at a slightly lower rate for the borrower.  Brokers are simply a middleman service, as they do not ever touch the funds, nor are the loans funded in their name. Brokers will get paid partially through Yield-Spread-Premium (YSP), which is a kickback from the bank to the Broker for selling a higher rate.  YSP MUST be disclosed on all Broker Good-Faith-Estimates BY LAW ... remember that when comparing. Also, you should be aware that many brokers are required to charge an origination fee as well as other fees. Keep your eyes open for these additional fees.

Mortgage Bankers  - A small percentage of Loan Officers are Mortgage Bankers.  They function similar to Brokers with one major difference ... they actually loan their company's own funds.  A Mortgage Bank will fund a loan in its own name, thus taking on a much larger risk than a Broker.  As a reward for this risk, a Mortgage Bank can provide loans at a lower rate, and with lower fees. Combine that with the speed of having in-house underwriting and funding, and you'll find that a Mortgage Bank will be the best deal for the borrower 99% of the time.

There is one other piece of mortgage advice that I can share with you to help you get ready to shop for a new home in Vancouver, Washington, SHOP AROUND! I am amazed at the difference in prices out there. When the time comes, call Janice or me for a referral to a lender who you can trust.

Calculator photo: asterisco

Residential Highlights for June

 According to RMLS Market Action Report, June's sales numbers indicate a 33.9% decrease in closed sales when comparing this year to June 2007. Pending sales have also dropped 36.8%. Surprisingly, new listings dropped 13.7%. At the month's rate of sales, the current listings (approx. 5276) would last on the market about 12.6 months. That number remains the same as May 2008.

 Second Quarter

The activity in the 2^nd quarter shows a 33% decrease in pending sales (1,342 vs 2,004) when compared to the 2^nd quarter of 2007. Closed sales also dropped by 32.6%. New listings for the month were down 10.3%.

 12 Month Sales price Change

When comparing the rolling 12 month sales prices with those for the 12 months immediately prior, we see that the average sales price decrease from $306,600 to $295,600 (3.6%) and the median price fell from $264,900 to $255,000. (3.7%)

They say that a picture is worth a thousand words. Is it worth a thousand dollars? Ten thousand dollars? More?

There was a time here in Vancouver, Washington, when the MLS system was a Xeroxed book that was distributed to the real estate brokers every week. Realtors would comb through the listings trying to match their clients' needs with the latest batch of homes to hit the market. If there were any pictures at all, they were a 3rd generation copy of the outside of the home. Real estate in Vancouver, Washington was a business of driving to and touring houses.  Buyers actually stood in the house, walked through the rooms, and experienced the space in person! If they liked the way the home laid out, then they wrote an offer. If not, back in the car and off to the next one. Vancouver, Washington was primarily dairy land with sub divisions in between. To see 6 or 7 homes in one day was difficult work.

Real estate in Vancouver, Washington has changed quite a bit since then. Real estate throughout the entire world has been revolutionized by technology and the internet. Buyers can easily see hundreds of listings in a few hours without even leaving their desk. They can literally see every listing in the county from the comfort of their own home.

What can we do to stand out in the market? How do we get a buyer to choose our listing as one of the coveted few that they are going to actually visit? There was a time when all we had to do was get them out of the car in into the house. Now it has become much more difficult.  First they have to find our listing. Then they have to check it out using all of the latest technology. If they make it this far and deem the home worthy, then they need to make an appointment (hopefully with me but probably with their own agent), print a map, get in the car, drive... You should get the point by now. Not only is the listing just one in a sea of hundreds but the buyers need to make more effort to see the home after they have found it online. I think that virtual tours are a great tool to help buyers overcome some of the roadblocks.

Virtual tours (actually I use Visual Tours at www.visualtour.com) certainly aren't the perfect solution to all of our problems, but when used correctly, they can give you an edge when it comes to prospecting for new clients.

Getting Found - By using a reputable virtual tour site your listings are infinitely more easily found on the information super highway. The good tour sites push their virtual tour inventories out to dozens of other sites for exposure. Your branded tours can be all over the net with the push of a button. The providers are constantly looking for new exposure to their sites. I track all of our leads that come in and I ask everyone how they found us. I am often surprised when someone has found us via a v-tour on a site that I didn't sign up for. Those are free links. Every web site that picks up the tour is another line in the water. The more lines you have, the more leads you get.

Getting Called - I have heard from other agents (agents who don't believe in V-tours) that they feel that the online exposure gets them less showings! They feel that so many people look at the homes online and use the tours to eliminate their listing from the list of homes to tour personally. Some even think that it hurts their traffic at open houses. I couldn't disagree more! If you create a nice tour, it should entice the buyer to want to see more. If your tours are scaring people away, then you may want to re evaluate your photo skills. Hire someone to shoot for you. I am not the greatest photographer in Vancouver, Washington, but I have never had a tour that hurt my chances of selling the house or new clients. Want to see what we currently have on v-tour right now?
Go to my inventory of Visual Tours for a few of our current ones.

Another advantage of v-tours is when it comes to outlying areas. Although to dairy farms of Vancouver, Washington are slowly be turned into shiny new neighborhoods, we still have more than our fair share of rural homes that sit 45minutes outside of town. Virtual tours are imperative to get these homes sold. Check out tour # 0087-5633  for a perfect example of this. This beautiful custom home sits about 15 minutes outside of Battle Ground, Washington in a gated community. Signs are worthless and there is absolutely zero drive by traffic. This tour has more views than any tour that I have ever made and continues to drive leads. This tour along with the listing on the MLS are the only tools that have worked for this home.

Photo credits:
House - Bluedaisy
Computer guy - Leonbidon