The Anacortes Review

SUMMER!....Come out, Come Out Wherever You Are!

2011-05-31T11:19:00.000-07:00

Ok, this is getting ridiculous....Rain, 50 degrees.....do we live in Seattle? Or maybe Tacoma....Geez. The weather has been ripe for one thing and one thing only....depression.

Well, I have just the cure: 4.25% interest rates on owner occupied homes! HOLY COW! I can remember back in 2002/3 when at 6% the historically low rates were making the headlines....Current rates though trump them all. Yes, they may be artificial. Regardless, there seems to be no better time to snake up that home you have been driving by daily, or put the hammer down on your timeline to purchase.

I do not claim to have a crystal ball regarding home values or even where the market going, but I do know that people will always need housing, Anacortes is and will continue to be a superb location, and with the reduction in pricing over the last few years.....the time seems pretty darn good. Interest rates are the icing on the cake.

With the potentially ominous 'sky is falling' news you hear regarding the international and national economic position of the US, I can totally see why some are skeptical and keeping their cash close by.......but there are good deals to be had and either you can make your play while we know pricing and rates are good, or you can wait and possibly miss the train.

So, my recommendation? Get outside, go on walks around the neighborhood, listen to your neighbors chat, keep your ears and eyes open for the house that truly suits your fashion. Then...run the numbers if there happens to be a price on it. Check the county assessor's site at www.skagitcounty.net for tax values.....My website, www.anacorteshomebuyer.com has a mortgage calculator attached to each listing so you can refine your down payment and rates. Or don't hesitate to call some local lenders to get some numbers for more insight.

There is no doubt the train is moving.....slowly right now and it may even be on a snails pace in the wrong direction. But at some point, and my guess is in the next 1-2 years....it will finally latch up with its other cars......then the market horsepower will slowly start to grind its way to a bigger and better position. Its currently the 'Big Engine that Could'.....and soon it will reach the top of this laborious hill......and then, standby to standby!

Cheers and Happy Belated Memorial Day.

Finally, back to blooging!

2011-02-18T17:40:00.000-08:00

I apologize! No real excuse for not touching base seeing I am not lacking opinions on the current events. Sometimes we get caught up in other things.

Regardless, here is what is new, what is happening and what may be forthcoming:

First, real estate. Activity is there, pricing is somewhat stable currently, but due the the apparent negative economic national outlook, along with the issues in the filtering states such as California and Arizona, I feel that pricing will remain somewhat stagnate. Additionally, depending on just how many 'asset problems' the mortgage banks have and how many more foreclosures occur........it could continue to sag and decrease even another 5-10%. Bottomline, no one knows and it will only be in retrospect that we see who was right or wrong.

Either way, if you are wanting to make a purchase.....make it a long term purchase of 5 years or more and I feel it will be as good as, if not better than renting. If your timeline is less, you may want to hold off.

Second, new beginnings: Anthony's has arrived. A very good, seafood based restaurant that recently opened up at the Cap Sante Marina. The food is tasty, the atmosphere extremely desireable and it has created quite a few additional jobs here in town. I recommend it highly.

Lastly, 2011. I love Anacortes for its small seaside character which includes all its festivals and events. The Waterfront festival, Arts and Crafts festival, Oyster Run and now which will be the SECOND ANNUAL Oktoberfest.....! You gotta get downtown for these events .... Of course, the Fourth of July parade is always good along with its light show off the Cap Sante for fireworks and list goes on.

Things are tight with many this year as they have been for quite some time. If you can though, get downtown and spend some cash. Enjoy as many of the local events as you can to help out the smaller businesses and keep our town great.

Happy 2011!

Troy

Kicking off 2010!

2010-01-20T10:21:00.000-08:00

"How is the real estate market?".......This is the standard question everyone wants to know and rarely, if at all, will it have one answer.

How is the market for me, personally, as an agent?; ....for those trying to sell?; or for those trying to buy?

Well, here are my answers. As an agent, 2009 was a tough year. Despite this, when compared to my fellow agents regarding overall production....I feel I did well. Most of my listings sold for the year, and the percentage ratio of original listing recommended price and actual sales price were within 10% or so. Those sellers and buyers with whom I worked generally left the transaction feeling good in their decisions. And the last quarter of '09 produced a nice spark in sales to round out a slow paced market. So again, for me, I was quite pleased given the market terrain. Many agents did considerably better and many did worse.

How about for Sellers? Well, most sellers who bought in the '04-07 range seemingly paid too much for their property. That is, those who are now wanting to sell the property and move on. For some, they wish the price they paid for their house or land had been less, but ultimately they still were able to purchase the home of their dreams, or one they truly enjoy and had the mortgage industry not been so receptive to all types of buyers.....many would not have been able to get into a house at all. So many are happy.

Of course, those previous buyers who are wanting to now sell their homes, have been the most hurt. Many remain on the market for several months and some even over a year due to sellers either not wanting to reduce the price into the current selling values or they are unable to do so due to the current debt on the home.

This can be and has been a problem for many in the Anacortes and outlying areas, as well as nationally, and my only suggestion is that if you don't have to attempt to sell, hang in there and expect longterm gains. If you have a steady job and can afford further investment it may be the time to counterbalance the original 'not so good' purchase with one in the near future that is better priced and with a better loan rate. This leads into the current market for buyers.

Most would agree that the time now is to buy and negotiate. It is the time to be patient with your purchase and truly take advantage of the slower pace and do your homework. By this I mean, tour as many homes as you can and if you determine a certain value for a property you like, stick to your guns, so to speak, on the offering price. More than likely, there are not that many others interested in the exact home and you can afford to allow the sellers to determine if it is worth letting you go. So, for buyers, the time is now.

Many still ask when I recommend further investment, "Will the prices continue to fall?" No one really knows. Speculation has it that there may very well be further drop but possibly just stagnation. It seems as though, statistically, that inventory is slowly dropping, but only time will tell if the trend continues. Regardless, loan rates may remain artificially low for some time, but will invariably have to rise....which means even if you wait for the market to truly bottom...which no one can guess....the rates will more than likely rise to where it counterbalances the potential gain in waiting for further price reductions.

So, the answer to 'How is the real estate market?' is not an easy or quick one. It varies depending on your perspective and what position you are currenlty in. As with many things, the market it undoubtedly cyclical in nature and will ebb and flow like any sine wave. We here at Windermere undoubtedly have an optimistic outlook on overall transactions for the year 2010. Whether this means that prices will increase, decrease or stagnate remains to be seen. Regardless, we hope that we can help you make good decisions regardless of what position you are in. Cheers and Happy 2010!

Troy

Dovetailing The Summer Spike

2009-10-20T11:27:00.001-07:00

As the title suggests, this is merely a follow-on to the previous post describing the tweak in property interest during the third quarter of this year. Now into the fourth, there have been some truly sweet deals on which my savy Buyers have pounced. Here are some of the details:

1. 2.5 Acre estate-like property just south of Coupeville on Whidbey. Almost 3,000 sqft of finished living space, featuring radiant floor heat, stainless appliances, slab granite, master on the main, and 4 bedrooms. Detached 2-car garage with bonus room on top.....a superb piece for under 480k....a great purchase!

2. A current sale of a dilapidated fixer home...2 bed/ 1 bath in need of just about everything, yet the lot size is 12,000 sqft! A detached two car garage and well on the property inside the Anacortes town limits! $125,000....craziness! Instant equity with this one especially seeing that my buyer is a true fix-it samurai.

3. Lastly, a purchase I made myself.....1400 sqft 3 bedroom/ 1 bath bungalow in town on an 8400 sqft lot with potential view if future dormers are installed....owner financing with a 5% note amortized for 30 years, with note due in five years.....in other words, just pay down for five years, then get a mortgage to pay off the Seller in full. Price: $158,000!!! I truly stumbled upon it.

So what is the point? If you are thinking of purchasing even in the least, call up your agent and start the viewings.....Even if you are thinking of not making a move for a few months, this will hone your ability to identify true value versus price. Online photos are good, but can be deceiving and you gain so much from merely walking through a place. After viewing a handful, you will then know exactly what you are looking for so that when you happen to walk in that front door, the home speaks to you and you know within 30 seconds that it is the one for you. Then you can move quickly since you are already astute regarding market inventory and pricing.

Please don't hesitate to visit www.AnacortesHomeBuyer.com for all MLS listings with all brokerages. Call or write with questions and don't be shy.....allowing me to get you into homes for showings is the fun part of the biz.

Good luck.

The Summer Spike - How Long Will It Last?

2009-09-17T15:02:00.000-07:00

After a dismal real estate winter and very lukewarm summer start......August and September are proving to be quite worthwhile regarding home and land sales in Anacortes and surrounding communities.

Instead of 'working my sphere', which for me would be flying more at the base, I have set aside my instructor hat for some good 'ole new homebuyer education, home viewings and purchases.......With the depreciation tweaks in home values, new tax credits, and low rates.....home buyers have hit the streets and new first time buyers are leading the pack.

Prior to August, typical sales had centered in the below 300k range and vacant land sales were practically non-existent. But the flatline of summer was shocked back into a slow but steady pulse as my phone starting ringing for appointments and website contacts came in from the cyberspace abyss.

With three homes under contract for the month of September alone....I feel this trend will continue at least to Thanksgiving. Buyers have been watching, waiting and viewing the net for the homes of their liking to slowly churn downward in price....then, having been patient, they pounce on them with quickness and decisiveness.....leading to quick negotiations and fast closings. Lenders have been expeditious and accurate and so the real estate world on our quaint northwestern island has come to life.

My question though is for how long? I firmly believe that people will always buy and sell. If rates hike up, prices may come down.....the market always has an answer so that the cycle continues.

With this however, here is my concern....2005/2006 still had quite a few of the option arms being sold to buyers which allowed many to get into homes they otherwise would not have been able to afford. The downfall of this is that many were 5/1 adjustable rates and that five year mark starts coming due now!! Assuming rates remain low.....no big deal. Some of the loans had percent hikes regardless of the prime rates. Once it comes due, there is an automatic x percent increase per month in the loan amount....payable each month. This coupled with a future major spike in rates could leave us all holding the bag....or should I say....mailing in our keys.

Now most of us are upstanding individuals who pay our bills on time and do not wish to lose our homes. However, if your home value is now at, below or extremely below what you paid on the home....what is your incentive to continue to pay an interest- only monthly payment that doesn't pay down the home and, in turn, breaks your financial back. You rid your savings to hang on for a year or two only to then ..... mail in the keys.

All in all, we do not know what will happen. If rates stay low....the economy turns around....jobs become more available, future rate increases might be easily dealt with. If they do spike and banks, in turn, can balance out the increase with other terms.....things may be dealt with. Regardless, something will have to give, and as I stated previously.....the market tends to correct itself......a tit for tat so to speak. At least, that is both my belief and my hope.

So, for now, my recommendation is to try to refinance if able with as little money down as you can. Hound your mortgage lender or bank, religiously. If you can afford some money out of pocket, then keeping mortgage insurance out of the monthly payment will be worthwhile. If not, at least by consolidating two mortgages into one, or getting rid of the arms for a set payment even with PMI....you will be better able to mantain a solid consistent budget without the burden of worrying where we and this real estate market and economy are truly going.

That's a wrap. Good Luck.

Summer '09

2009-06-02T14:19:00.000-07:00

Well, at least weather-wise, it appears summer is upon us. Only a few more weeks of school is left, Memorial Day has come and gone and now people are hopefully gearing up for whatever types of vacations they can afford.

Monetarily, this year's events have squeezed many families and those who live in wonderful Anacortes are no different. I know my business with Windermere has taken a serious hit, as well as many other businesses in town. Extra savings is now used to the pay the bills and most of the fiscal goals those of us set for ourselves will have to be met next year.

With that, I merely wanted write to say that ultimately, many of us are in it together. Car dealers, Real Estate brokers, Restauranteers, Small novelty shop owners, the list goes on.....
There are many out there that have continued to live within their means and good for them. They have managed to be tenacious in the savings and also thrifty in their spending, especially when times are good since that is where you can truly save.

For those who are merely hanging on to whatever assets they have month to month, please stay focused and motivated. For those who have or who are on the brink of job loss, try your best to get on the job search bandwagon. Try to broader your ideas of the types of jobs you truly would like to do and turn the negative into a positive in the job search of something enjoyable.

Regarding home sales, since that is my primary field, I am not really sure what is going to happen this year. All in all, we had very few home sales in the first quarter with a decent spike in sales in the second. Many of the contracts have been in the under 350k range, yet some homes in the above 500k range have sold also.

If you have a home you are wanting to sell or currently have it listed, price is everything. No ifs, ands or buts........people want security in the fact that whatever home they buy now, they can live in for a few years and at least not lose money. They want what they consider a decent deal and I do not blame them. So, remember this when pricing your home.

You want the most money for your house for sure, all of us do. But, price too high and ultimately the home becomes stale, and you end up selling alot later for a lot less. Or for those who plan to purchase elsewhere, if you delay selling until the market is back on the rise.......the rise is a benefit when selling, but a hinderance when you get back into the market by buying during the rise also.

Lastly, there are many decent opportunities out there with regards to real estate and other entities as well. Cars prices have come down dramatically. Boat prices also. My overall thoughts are the despite the economic squeeze, try to work hard, be as thrifty as possible, but do not close your eyes to good deals that may come your way.

Good luck.
Troy

Its A Good Deal, 2009 #1

2009-01-22T14:20:00.000-08:00

I am always looking for value in things; real estate, clothes, cars and especially food and beer. Although I do have a bias for the Brown Lantern, there are many establishments in town that want to show off their stuff by providing their customers with tasty meals at affordable prices. Here is my first Good Deal Tip of 2009: El Jinete's Taco's al a carte!

Now, there isn't anything special in itself about a hard or soft shell ground beef taco. But, add a Tuesday lunch or evening to it, throw on some cheese, lettuce and tomatoes (for those who like them) and now you have a meal that is tasty, filling and truly cost effective.

Tuesday's are Tecate Tuesdays at El Jinete and for $2.50 per beer and $1.95 per taco.....you can have some chips and salsa, two taco's, and a Tecate for little over $6 without tax. Monetarily, you can even beat the five dollar footlong if you forget the brew.

So brush off the hamburger desires one night, put away that P, B and J.....And get on down the El Jinete. Times are not easy and they may even get a little worse in the months to come, but let us all endeavor to capitalize on deals such as these by promoting them and taking advantage of them. We all want our restaurants to succeed and if this is what you can afford, get down there and give them your appetite and your money. You will not be sorry.

More deals to come so stay tuned.

Cheers
T

2008 Year in Review, 2009 Walking the Bull

2009-01-05T15:05:00.000-08:00

2009 has arrived. Anacortes rang in the new year with about two weeks of snow prior to the ball dropping. Probably the biggest snow in a decade to hit the Puget Sound area lent itself to a jump on holiday lounging, skiing, sledding, and what many us so often desire.....a truly white Christmas.

2008 undoubtedly was an ebb and flow year at best; with it being primarily an ebb year for most. Production for my real estate business was down about 20% and for some considerably more. The economic woes of a country that had been living the highlife from a lending perspective over the past years beared their true weight. This burden came at time when the country was pondering its new Commander in Chief, the continuing war in Iraq, sliding home values and the upcoming holiday season.

Well, many economists claim the worst is behind us, although some forecast an even bleaker 2009. Here in Anacortes, there have been a few business closures and a handful of foreclosed homes. Prices have slid and much of the gains in the '03 to '05 years have all but washed away. Current values are becoming more reasonable and there are starting to be deals on the market again.

Prices having dropped and potentially plateued, mortgage rates at historic lows, and Sellers reaching close to their wits end with excessive days on market all spell out one thing......a buyer's market. If you are thinking of purchasing, have been sitting the fence for some time, I feel that now is time to start your active searches. Even if you haven't totally determined you are ready to make the plunge into a new home or a second home or even a rental....it is totally worthwhile to call your agent and just window shop at the very least. Homes that you see and that attract you now, may very well tweak a final time or two and having looked at them prior will enable you to pounce when the deal is subjectively ripe for you.

Remember, you are not the only one watching and waiting and usually when a specifically desirable home gets into a certain price point area......it goes and goes quickly. Last you want to do is to not prepare for that and assume no one else will want the same home. Ultimately by not doing so you merely trade in all gains in negotiating for a multiple offer scenario that drives the price back up. Believe me...it happens.

I personally have been shopping again after taking a 3 year hiatus from investment purchasing. I see acreage prices having dropped, and there are even worthwhile homes and condos in Anacortes for under 200k. All good signs.

My last thought for you is this: none of us in the real estate industry really know when the bottom of the market has come until it is well passed. Once the 'herd' of the nation is riding the upswing bull market....the true gains have already been had. My only suggestion is take this bull by the horns now for a nice easy ride. You make your money when you buy, not sell, and the time to buy is often passing while many are keeping that fence warm.

Good luck and please, don't hesitate to call or write with comments and questions.

Troy

Old Town Aesthetics

2008-04-30T11:32:00.000-07:00

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

The School Bond

2008-02-01T09:26:00.000-08:00

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

Our Market: Answering The Real Estate Question

2008-01-31T16:02:00.000-08:00

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

Food, Drinks, Coziness: The Majestic Hotel

2008-01-31T11:46:00.000-08:00

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

Post vs Comment

2007-06-28T11:21:00.000-07:00

When viewing the site, the comment link is at the bottom of each post. If clicked, you then have to enter your comments, username/password and hit publish. This not only publishes your comments on that topic, but also signs you into the site so that you may also publish a post on a different topic. Comments are associated with each post.

If you are wanting to just post a new topic critique, etc.....sign into the site, then click new post, enter your title and off you go.

I am also working on determining photo downloads. Thanks,
T

Learning to Blog/Post

2007-06-28T11:05:00.000-07:00

Ok,
I am learning here also and what I have discovered thus far is this:

1. Posting a comment will require a username and password......ouch! Yeah, I didn't realize this in the beginning and was thinking that I had to sign in to moderate the site, but others merely could post. So with that, this will be a pain for most since we all do not want another password to remember. All I can say is I would hope most will remember the goal here...to improve the town, promote the town, etc and will bite the bullet for now, until it is determined that the site is truly something useful and desired. Then, I, we, whomever can offer up new tips to develop a more userfriendly site. We are now in the intial crawling stages of a blog site; I am learning as we go.

2. Many are overly critical of their own writing ability. Don't worry too much about grammar and spelling. Again, the goal is to just get the community to pull together and talk about the town. It is all stream of consciousness typing/posting. Who cares if you spell something incorrectly or your post sounds goofy. It will ultimately contribute regardless.

3. I am working to create the official site address as theanacortesreview.com.....but for now, theanacortesreview.blogsport.com is the temp address since google blogsport is an easy site to set up your very first blog. Ok?

Anyway, as I find out more things I will post. There are many out there who are experts at this, so pass the word. Let's get this thing going.

Thanks,
T

What a Pub!

2007-06-27T14:06:00.000-07:00

Since I moved to Wa in '97, I have been taken aback by one place........somewhere that keeps me warm when I am cold, cool when I am hot, drunk when I am sober and full when I am hungry.....
That place is the Brown Lantern! When I first entered the pub, it was just that....a pub/alehouse. Beer and wine only, a small rectangular box of rustic old Skagit Fir, soda shop seats, a pool table and a crappy urinal. But from that day forward, it has been a integral member of my family.....me, my dog, and the Brown.....then of course Mom, Dad, Sis....etc.

Anyway, the Brown has changed a bit over the years to now a restaurant/pub, but the beer has never floweth cooler, the ownership and staff never been better. With about 12 beers on tap, more in the cooler, liquor, bacon cheeseburgers, corn crab chowder, a beer garden and band area.......the Brown is truly one of a kind. I cannot promote it more or go there enough. If you come to A-town, you have to hit the Brown Lantern for a beer, some food and for just saying you been there. It is truly a highlight of our small, northwest, seaside town.

Dave....You Rock!

Troy

A-Town's First Post: by locals, for locals....and others.

2007-06-27T13:51:00.000-07:00

Well, since we all are becoming more connected, I felt it was about time to set up an all-hands review of our town. I wanted a single source web entity that would provide opinions about all the different services our town has to offer. I wanted to hear what everyone has to say about the restoration of the Wilson Hotel, the beer at the Brown Lantern, the access provided by the ferry terminal, the marinas, the service at particular hardware stores, and so on and so on.

I have quite a bit of pride in my town of Anacortes, despite only having lived here since 1999. I love the restaurants, the people, the quality of life; its proximity to the water, the mountains, Canada, Hawaii, ....the list is endless. But often I have friends, family members, and clients come into town only to say....."Where is the best fish 'n chips....?" Of course I have my favorite, but I thought it worthwhile to get everyone's take. Heck, just the other day I finally had salmon and chips at The Captain's Place....after almost 10 years of being around town.....They were great! And the service was good also.

So with that, let us all join in and give our best foot forward in describing all the good things our town has to offer. Don't forget to mention people too, since it is truly the people in our town that make it so great. Constructive criticism is welcome also, but let us try to keep it clean and helpful........to ultimately make the services better.

Thanks for visiting and let's get to it!

Cheers,

Troy Williams