After hearing of the planning committee's decision to entertain ideas concerning the architectural styles allowed and prohibited in the Old Town area (12th Street and north), I had to post. Be it known that I am a 16th Street resident, so may not even have an iron in this fire.
Regardless, why must I post? First, because I find it interesting that the city is creating a group to determine guidelines that affect an area that isn't even defined on any piece of paper currently on the books; at least to my knowledge....it is merely understood. They are taking an area, creating an off the record community which is currently without guidelines, defining it geographically in some way, then attempting to place guidelines and further restrictions on it. Interesting indeed. After this post, I will be calling the planning commission to insure this is the case.
Secondly, I question the clarity of the city's goal, since we may be talking about future guidelines....merely things from which to deviate....right? Or, on the other hand, it may be about future restrictions, and if defined in this way, a potential problem could very well exist.
For the discussion, we need some background.
What defines Old Town? Geographically it is generally considered that area west of Commercial and north of 12th Street. It is a quaint, hodgepodge of typically older homes that create a sense of history and small town feel. Those who live in or near Old Town, enjoy a small town, turn of the century feel, where the sidewalks are abundant, and the variety of homes encompass Craftsman to Victorian and milltown bungalow to Dutch Grambels (sp). Additionally, living in this area provides easy pedestrian access to Historical Downtown, further solidifying its moniker.
Personally, I enjoy venturing from block to block either while on a run with the Mooser (my lab) or on my bike heading to my Sweetie's place, where I catch sound glimpses of beautiful older style homes that truly provide comfort and serenity to my mind. It is this sense of history and style that the city officials are attempting to preserve and promote.
Other characteristics of the area include the lack of convenants, codes and restrictions associated with the newer subdivisions on the island. Thirty Five feet height restrictions allow for one level homes to be remodeled into two-story homes with gorgeous views of the Guemes channel. You can park in your garage on Mondays and Tuesdays, but choose to park along the curb in front of your home during the rest of the week if you so desire. Many properties have smaller lot sizes where the home itself covers the majority of the properity; thus maximizing interior space, while minimizing yard upkeep; while an equal number have large, manicured lawns with wrap-around porches. Also, the variety associated with most of the homes give solace to those who despise the standard, cookie-cutter style of neighborhood; homogeneity is not a word for Old Town except in the sense that most of the homes there are, in fact, 'old.' Many of these characteristics will be considered benefits by some and detriments by others depending merely on your perspective.
That is our background.
The aforementioned committee has been tasked with developing a set of ideas, which may eventually become mandates, that will ultimately place restrictions on some of these characteristics. All in all, the intent seems benign and in keeping with the historical heritage of the area. However, as mentioned in the opening statement of this diatribe, Old Town is not a community defined by the city persay, only word of mouth. It is an area without definition and some, if not all, of the publicized ideas may be just a bit too broad in scope and too restrictive. Some include the following: Restrict overall footprint of home structure to maximize yard size and further curb appeal; promote turn of the century architectural styles, limit multi-family structures, prohibit the cutting of designated 'heritage trees', and limiting some lots height restrictions to 25 feet.
Again, all seemingly in good faith, however it just doesn't seem to pan out in the grand scheme of things. Those who currently own, bought under a set of guidelines that were loose and without architectural committee.....basically there were no guidelines, just the restrictions on height and setbacks existed. I would bet that some families may have grand plans to one day utilize this lack of guidelines to the fullest extent possible. They may plan to maximize their investment and increase their style of living through adding a garage, a second level, or simply a sun room for morning coffee. To deny their right to do so through 'legislation' creating restrictions for an area not even currently defined by the city, could be a heavy blow to many of the homeowners. Especially seeing that one's home may very well be their largest investment.
So, what should we do? Well, as I stated previously, I feel the city's intent is good. And first, they should officially designate, by street, what area the moniker 'Old Town' will encompass.
Most would agree that west of commercial, south of Guemes Channel, north of 12th street are some very solid boundaries, but what about the area that is just west of D Ave, yet north of Oakes...?? Still seemingly part of the 'Old Town' swing, but truly, where does this area cease to exist??
Once done, then instead of creating restrictions, promote a standard that is created by this committee.......and promote is the key word. As a resident of Anacortes, I have no problem with having a 'concierge of taste' so to speak, whereby we are asked to participate and receive some type of benefit if we choose to do so.
Some possible examples of this are the following: Resident X wants to tear down a small home and build anew.... X agrees to build in a turn of the century style, maximizing front yard space and curb appeal, and the city in turn puts in his/her sidewalks and allows them to have their detached garage directly on the alley line. This is an example of complete give and take, seeing that the owner is pushing their home back on the lot, giving room for kids and dogs to stroll, but then the city is understanding their is still a need to help them maximize their lot size and give them a bene' in back.???? Make sense.
Although I prefer the positive reinforcement method best, another example could be that the city could create penalties, whereby if residents choose to stray from set guidelines, they must put in sidewalks at their own expense.......And although some will complain about being penalized, at least there is an option and the homeowner is still in control of their home and its style.
To wrap up, I understand and tend to agree with the direction the city is going on this issue. However, in order to curb skepticism, maintain the integrity of the city's intent and make the process as equitable and non-restrictive as possible, the committee should ultimately make its decisions and present them all as promotable rather than mandates. Get the community involved by having a few well publicized meetings, or even merely a website for postings so that they get a better feel of what the current residents of the undefined 'Old Town' want. Get the area firmly defined, then roll out the red carpet for compromise and good will. Remember, more bees are attracted with honey than with a net. Mandates on homeowners could turn honeybees into yellowjackets just as Dr. Jekyll morphed into Mr. Hyde.
Resepectfully,
Troy
Wednesday, April 30, 2008
Friday, February 1, 2008
The School Bond
I always preface with my background so that no one is confused as to who I am or from where I come. I am single........no kids........a property owner.......a rental owner.......and I believe in having good schools in which children and young adults can learn and grow.
Despite this, my biggest issue with this bond and any bond for that matter is how and who pays for it. Instead of simply charging homeowners on average $150 per year for every property they own(current potential assessment)......there should be more 'direct user' approach to collecting this money. Here is my proposal:
Upon registering your child at school, parents/guardians must annotate with copy of tax record or lease agreement whether they are homeowners or renters. A yearly registration fee should be paid based on these documents and on how many children they have registered in the school district. These fees can be kept in a trust account for future use as deemed necessary. As major repairs or renovations are needed, balancing the bottom line is the admistrator or treasurer's job and if you don't have the money to do it....wait until next year. If an emergency repair is needed, or renovations are still desired to greatly improve the learning and teaching abilities of the students and teachers, respectively, then vote on a bond for the remaining funds needed.
Once approved, homeowners are then assessed a smaller amount. This way, the burden of paying for the majority of the repairs lies on those who use the facilities the most, yet property owners also help with the cost since good schools do lend to increases in local property values.
Additionally, any homeowner who has rental properties should not have to pay per property. Rather, these landlords have the owner occupied property assessed, but can present their lease agreements to the district and have assessments on the rental homes rebated. Remember that if they rent to a family with children, this family has already paid their portion upon registration. If there are no children at a particular rental residence, then neither the landlord, who is already paying the additional assessment for their own residence, nor the renter are charged. We limit double, triple, possibly quintuple jeopardy for landowners with multiple properties, and limit the amount we charge residents for something they are not using.
Now I know there may be stumbling blocks with this proposal, but the counter solution is not to simply charge all the landowners per property whether they have kids or not; those families who rent have just as many, if not more children, than those families that own their home. They should have an equal share of the monetary burden and the taxes on their consumables obviously isn't enough.
Again, not a total usage approach, but one that combines annual property taxes, fees from families directly using the schools, and additional contributions from property owners for the betterment of the schools and community.
While solidifying this plan, the district should break up the current bond vote into three votable options with an expenditure breakdown showing those that are necessary versus those that are simply desired:
1. The full bond monetary amount
2. A half bond monetary amount
3. A quarter bond monetary amount.
It should not be too difficult to determine which school needs the most the soonest. It would seem that voters would be more likely to vote for a smaller bond and accomplish renovations in stages with approval of each stage and an increase at that time.
Although the district claims this will ultimately cost the residents more over the long run, it is no different than buying in bulk. You simply my not want or need everything for the next 10 years right at the present time; and you ultimately are paying more money right now, which truly is when it counts, especially when more bonds and levies will undoubtedly surface again regardless. Also, by the district having this money in hand....or the commitment for this money, misuse or appropriating it to other 'emergency needs' seems more likely to happen.
Again, for now, give us property owners more options than an all or nothing plan. It was rejected last time; why present the same thing again.
Start a committee to change how the money is contributed; it may be an uphill battle, but one that will lead to a more equitable distribution of payment.
I am open for rebuttals.
Cheers,
T
Despite this, my biggest issue with this bond and any bond for that matter is how and who pays for it. Instead of simply charging homeowners on average $150 per year for every property they own(current potential assessment)......there should be more 'direct user' approach to collecting this money. Here is my proposal:
Upon registering your child at school, parents/guardians must annotate with copy of tax record or lease agreement whether they are homeowners or renters. A yearly registration fee should be paid based on these documents and on how many children they have registered in the school district. These fees can be kept in a trust account for future use as deemed necessary. As major repairs or renovations are needed, balancing the bottom line is the admistrator or treasurer's job and if you don't have the money to do it....wait until next year. If an emergency repair is needed, or renovations are still desired to greatly improve the learning and teaching abilities of the students and teachers, respectively, then vote on a bond for the remaining funds needed.
Once approved, homeowners are then assessed a smaller amount. This way, the burden of paying for the majority of the repairs lies on those who use the facilities the most, yet property owners also help with the cost since good schools do lend to increases in local property values.
Additionally, any homeowner who has rental properties should not have to pay per property. Rather, these landlords have the owner occupied property assessed, but can present their lease agreements to the district and have assessments on the rental homes rebated. Remember that if they rent to a family with children, this family has already paid their portion upon registration. If there are no children at a particular rental residence, then neither the landlord, who is already paying the additional assessment for their own residence, nor the renter are charged. We limit double, triple, possibly quintuple jeopardy for landowners with multiple properties, and limit the amount we charge residents for something they are not using.
Now I know there may be stumbling blocks with this proposal, but the counter solution is not to simply charge all the landowners per property whether they have kids or not; those families who rent have just as many, if not more children, than those families that own their home. They should have an equal share of the monetary burden and the taxes on their consumables obviously isn't enough.
Again, not a total usage approach, but one that combines annual property taxes, fees from families directly using the schools, and additional contributions from property owners for the betterment of the schools and community.
While solidifying this plan, the district should break up the current bond vote into three votable options with an expenditure breakdown showing those that are necessary versus those that are simply desired:
1. The full bond monetary amount
2. A half bond monetary amount
3. A quarter bond monetary amount.
It should not be too difficult to determine which school needs the most the soonest. It would seem that voters would be more likely to vote for a smaller bond and accomplish renovations in stages with approval of each stage and an increase at that time.
Although the district claims this will ultimately cost the residents more over the long run, it is no different than buying in bulk. You simply my not want or need everything for the next 10 years right at the present time; and you ultimately are paying more money right now, which truly is when it counts, especially when more bonds and levies will undoubtedly surface again regardless. Also, by the district having this money in hand....or the commitment for this money, misuse or appropriating it to other 'emergency needs' seems more likely to happen.
Again, for now, give us property owners more options than an all or nothing plan. It was rejected last time; why present the same thing again.
Start a committee to change how the money is contributed; it may be an uphill battle, but one that will lead to a more equitable distribution of payment.
I am open for rebuttals.
Cheers,
T
Thursday, January 31, 2008
Our Market: Answering The Real Estate Question
First, I would like to say that I am bias. I love Anacortes and all it has to offer. I own property here in town. And I also truly enjoy being a real estate agent. Despite this obvious sway, I can also say that I have all the reasons in the world to be so optimitistic and enthusiastic about the future of our town and its property values. Let us initially discuss some background information.
Stats show currently that there are close to 300 residential type properties on the market, with about 20 of those under contract at any given time. Just over 6% of the active listings are actually being sold. This number itself is not great by any stretch, but seeing that we are just coming out of holiday season, it is currently raining and grey, Countrywide just posted a $422 million loss, foreclosures nationally are frequent, and the upcoming election seems to have people pitted against one another, that stat really isn't too bad. And for all you buyers out there, it means negotiate, negotiate, negotiate.
Six months ago, prices here in town on most listings were simply too high. Sellers had 2004 and 2005 sale price expectations; which simply could not sustain itself. It has taken the past year for most Sellers to realize that the gains of 20, 30, and close to 50% in equity over the past few years had plateaued and for agents to develop the capacity or 'cohones' to walk away from unrealistic listings.
As listing agents, we are in the market of getting homes sold for the most amount of money, but in the least amount of time. Yes, we would hope to make as much money as possible for our clients, but the market can bear only so much. Agents are now in the business of 'firing' their home owners. That is right. No showings in 45 days is NOT a reason to keep dreaming that your price is fair. Lower it to a more acceptable market value, or you will have to list elsewhere. If you do not like the valuation of your home prior to list, my rule of thumb is that I will add no more than 10% to my recommended price for a maximum period of 30 days. No contract by that time and we agree to bring it down to my valuation minus 1%.
Yes, sometimes you can catch a big, uneducated fish, but mostly you simply cause your home to become stale and miss out on those that would have otherwise bought it.
For Buyers of the '04 and '05 years, you were lucky to even get into a house if you offered less than 3% less than list price. Up until recently, if you weren't starting at least 10% below list, you were simply using the wrong agent. Now, multiple offer scenarios are different, of course, and if you have to have the home, you have to pay for it too; I understand those emotional ties.
With agents pricing homes better, Sellers are beginning to realize that if they lived in the home, enjoyed it, and can recoup their total montly payments, then they have made a pretty decent investment. Some who are making an extra 5-10% are just getting gravy on top of it also. And those who are breaking even are doing just that.....breaking even. No big deal.
So, it is 2008 in A-town. Here are my reasons for being so optimistic in their most tersely cogent form:
1. Pricing has been, and is currently being, adjusted by everyone involved in the transaction. The listing agents are sticking to their valuations and not allowing sellers to be the dictators of price. Sellers are educating themselves on what the market can bear and allowing for more negotiations during contract disputes.
2. There is a large variety of homes available in every price range which lends itself to appealing to most anyone in the market for a new home. Single family homes, condos, apartments, waterfront mansions....we have it all.
3. Interest rates are historically low. They may go lower or higher, or they may remain stable. But with the upcoming election at hand, no one can know what could happen with a change in administration. I am in the process of refinancing now, and if I had not already just purchased an investment property a year ago, I would be buying again. Lock in that low rate as soon as you can.
4. And even though the Southwestern markets are hit by falling sales prices, we have our own turnover center at NAS Whidbey Island, 15 miles away. This base continues to thrive regardless of economy or national sways, and it will be having the first EA-18 Growlers arrive mid-summer. With that new aircraft comes a entire new cadre of officers, enlisted and government contractors. Many have lived in the hustle bustle of Lemore, CA and Virginia Beach, VA with a undying desire to break the mold. The Puget Sound is their beacon and that will be continuing for the forseeable future.
My final recommendations are as such:
Sellers: trust your agent, but also hop online and research yourself. http://www.anacorteshomebuyer.com/ is my personal site for all NWMLS listings in all brokerage houses. Look at your competition, in addition to the previous solds, and make your home the 'no brainer' pick out of the direct comparable properties by avoiding over-valuation.
Buyers: don't over-extend yourself. http://www.hsh.com/ is a good site for quick mortgage loan calculations. You must add taxes and insurance to the results. Determine where you want to be monthly, plan ahead for the purchase by building a savings account of at least 3 months of the planned mortgage payment, and while doing this.......find an agent who makes you comfortable and who speaks your language; to educate, sooth and make your home search a truly fun experience. There are lots of homes so don't rush the process and remember: you make your money when you buy your home.....NOT when you sell it.
Cheers,
T
Stats show currently that there are close to 300 residential type properties on the market, with about 20 of those under contract at any given time. Just over 6% of the active listings are actually being sold. This number itself is not great by any stretch, but seeing that we are just coming out of holiday season, it is currently raining and grey, Countrywide just posted a $422 million loss, foreclosures nationally are frequent, and the upcoming election seems to have people pitted against one another, that stat really isn't too bad. And for all you buyers out there, it means negotiate, negotiate, negotiate.
Six months ago, prices here in town on most listings were simply too high. Sellers had 2004 and 2005 sale price expectations; which simply could not sustain itself. It has taken the past year for most Sellers to realize that the gains of 20, 30, and close to 50% in equity over the past few years had plateaued and for agents to develop the capacity or 'cohones' to walk away from unrealistic listings.
As listing agents, we are in the market of getting homes sold for the most amount of money, but in the least amount of time. Yes, we would hope to make as much money as possible for our clients, but the market can bear only so much. Agents are now in the business of 'firing' their home owners. That is right. No showings in 45 days is NOT a reason to keep dreaming that your price is fair. Lower it to a more acceptable market value, or you will have to list elsewhere. If you do not like the valuation of your home prior to list, my rule of thumb is that I will add no more than 10% to my recommended price for a maximum period of 30 days. No contract by that time and we agree to bring it down to my valuation minus 1%.
Yes, sometimes you can catch a big, uneducated fish, but mostly you simply cause your home to become stale and miss out on those that would have otherwise bought it.
For Buyers of the '04 and '05 years, you were lucky to even get into a house if you offered less than 3% less than list price. Up until recently, if you weren't starting at least 10% below list, you were simply using the wrong agent. Now, multiple offer scenarios are different, of course, and if you have to have the home, you have to pay for it too; I understand those emotional ties.
With agents pricing homes better, Sellers are beginning to realize that if they lived in the home, enjoyed it, and can recoup their total montly payments, then they have made a pretty decent investment. Some who are making an extra 5-10% are just getting gravy on top of it also. And those who are breaking even are doing just that.....breaking even. No big deal.
So, it is 2008 in A-town. Here are my reasons for being so optimistic in their most tersely cogent form:
1. Pricing has been, and is currently being, adjusted by everyone involved in the transaction. The listing agents are sticking to their valuations and not allowing sellers to be the dictators of price. Sellers are educating themselves on what the market can bear and allowing for more negotiations during contract disputes.
2. There is a large variety of homes available in every price range which lends itself to appealing to most anyone in the market for a new home. Single family homes, condos, apartments, waterfront mansions....we have it all.
3. Interest rates are historically low. They may go lower or higher, or they may remain stable. But with the upcoming election at hand, no one can know what could happen with a change in administration. I am in the process of refinancing now, and if I had not already just purchased an investment property a year ago, I would be buying again. Lock in that low rate as soon as you can.
4. And even though the Southwestern markets are hit by falling sales prices, we have our own turnover center at NAS Whidbey Island, 15 miles away. This base continues to thrive regardless of economy or national sways, and it will be having the first EA-18 Growlers arrive mid-summer. With that new aircraft comes a entire new cadre of officers, enlisted and government contractors. Many have lived in the hustle bustle of Lemore, CA and Virginia Beach, VA with a undying desire to break the mold. The Puget Sound is their beacon and that will be continuing for the forseeable future.
My final recommendations are as such:
Sellers: trust your agent, but also hop online and research yourself. http://www.anacorteshomebuyer.com/ is my personal site for all NWMLS listings in all brokerage houses. Look at your competition, in addition to the previous solds, and make your home the 'no brainer' pick out of the direct comparable properties by avoiding over-valuation.
Buyers: don't over-extend yourself. http://www.hsh.com/ is a good site for quick mortgage loan calculations. You must add taxes and insurance to the results. Determine where you want to be monthly, plan ahead for the purchase by building a savings account of at least 3 months of the planned mortgage payment, and while doing this.......find an agent who makes you comfortable and who speaks your language; to educate, sooth and make your home search a truly fun experience. There are lots of homes so don't rush the process and remember: you make your money when you buy your home.....NOT when you sell it.
Cheers,
T
Food, Drinks, Coziness: The Majestic Hotel
Pay attention, 99, heed to all, etc.......The Majestic Hotel is doing it right!!!
Come 4pm on a cool, crisp Anacortes day and we all tend to hit that lull. Whether due to bloodsugar or simply the nature of the body, that feeling happens more than not for most. Here is my solution, plan a wonderful outing with your significant other to the Majestic's Happy Hour from 4-6 during the weekdays. Great prices on drinks, a wonderfully new twist to the menu contributed by the town's own Billy Ray, and a cozy fire to balance your Pinot Grigio.
What causes me to now draw attention to this outing? Three words: The Mixed Grill! Holy Cow.....Amazing!
What is this you ask? Well, for $11.50, you and your partner can enjoy what I consider the best deal in Anacortes, food-wise. A massive surf and turf smorgasbord of protein and veggies, including steak, chicken, smoked sausage, battered fish, shrimp, brocolinis, carrots, onions, green beans, and polenta. This is all surrounding your choice of delightful mashed potatoes or shoestring fries........Normally it would cost you $17, a deal in itself, but the happy hour discount or early bird special for those that do not partake of the vino, is a true steal!!! My girlfriend and I have made it a date now each week.
So, get your workout in early, plan an after school stayover for your kids, or just simply show up. I promise, you will not be disappointed and will more likely plot out your calendar days for this very warm and pleasant experience. Support another one of Anacortes' fine establishments.....head on into the Majestic and allow them to further solidify your love for our great northwestern seaside town.
Cheers.
T
Come 4pm on a cool, crisp Anacortes day and we all tend to hit that lull. Whether due to bloodsugar or simply the nature of the body, that feeling happens more than not for most. Here is my solution, plan a wonderful outing with your significant other to the Majestic's Happy Hour from 4-6 during the weekdays. Great prices on drinks, a wonderfully new twist to the menu contributed by the town's own Billy Ray, and a cozy fire to balance your Pinot Grigio.
What causes me to now draw attention to this outing? Three words: The Mixed Grill! Holy Cow.....Amazing!
What is this you ask? Well, for $11.50, you and your partner can enjoy what I consider the best deal in Anacortes, food-wise. A massive surf and turf smorgasbord of protein and veggies, including steak, chicken, smoked sausage, battered fish, shrimp, brocolinis, carrots, onions, green beans, and polenta. This is all surrounding your choice of delightful mashed potatoes or shoestring fries........Normally it would cost you $17, a deal in itself, but the happy hour discount or early bird special for those that do not partake of the vino, is a true steal!!! My girlfriend and I have made it a date now each week.
So, get your workout in early, plan an after school stayover for your kids, or just simply show up. I promise, you will not be disappointed and will more likely plot out your calendar days for this very warm and pleasant experience. Support another one of Anacortes' fine establishments.....head on into the Majestic and allow them to further solidify your love for our great northwestern seaside town.
Cheers.
T
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