For the past 117 months, I’ve published this newsletter – nothing canned, no copy-and-paste stuff, everything from scratch. The average length is about 600 words and most of the visuals are homegrown, too. After the month-end email distribution to about 400 people, I post each newsletter here on my website – ReSeattle.com.
Gerhard Ade covers Real Estate around Seattle and more.
For the past nine years, Gerhard Ade has published the "View from the Street" a monthly newsletter he writes for his clients and friends. Appearing at the end of each month, Gerhard covers not only real estate but other topics that are close to his mind and heart. To reach a broader audience, Gerhard posts each newsletter on ReSeattle.com. Don't miss what Gerhard has to say and subscribe to his "View from the Street" right here!
The Christmas of my childhood was filled with magic. If there were any Christmas decorations in the public square I can’t recall them. I do remember, however, the door between my grandparents’ kitchen and the living room. About a week before Christmas it closed and stayed shut until Christmas Eve.
That evening, after a week of growing anticipation, and after the last bite of carp and boiled potatoes, the little bell rang. It came from behind the door. In concert, a traditional German Christmas carol permitted me to open the door.[Read more…] about The beautiful magic happens behind closed doors.
Has the pandemic caused a real estate panic?
The pandemic has caused a real estate panic. The urban unrest hasn’t helped. Buyers are fleeing urban settings for the suburban life and beyond to rural areas. Some leave Washington State altogether. What they want are larger homes or second homes. This scenario plays out across the country.
“Anything right outside of Boston is going like wildfire, but especially the single-family homes. I’ve never seen bidding wars – I mean, you know, randomly here or there – but I’ve never seen bidding wars with consistency in the fall like I have this fall.”
“Consumers working from home or schooling from home want more square footage since the home is more than just a home now, it’s a daycare, an office, a gym and a school. Pool permits in Frisco, a Dallas suburb, have gone up 400%.”
“People have been working this whole time at home, and they’re looking for bigger homes with maybe a little more land. So, they’re moving away from the downtown area. The suburbs are really getting busy. Some homes are bought sight-unseen.”
The complete quotes, cited above and edited only for brevity, can be found in this article from HousingWire.[Read more…] about Is there really a real estate panic?
What happened to real estate values around Seattle from 2003 to 2020.
A Personal Story
I was inspired to write this story because I wanted to know how my client’s experience fit into the bigger picture. I chose the years 2003, 2008, 2009, 2016, and 2020 because those are the years when the six transactions took place.
Five years, six transactions
I started in real estate in 2002, so this story is also a look back at my 18 years in this business. In 2003, this client – The Family – moved to Seattle from Chicago. A Swiss friend from church had recommended me to them.
Little did I know back then that the purchase of a bungalow-like home near Seward Park would be the first of six transactions. Since then, my business has grown mainly due to repeat business and recommendations.
From boom to bust to best
Having arrived in Seattle in 1999 for a job in my former career, I had very few local contacts. That was painfully obvious during the boom years of Seattle real estate. Oddly enough, the year 2008, after the bubble burst, was until then my best year in real estate. That was also the year when I helped The Family with the purchase of their second home.
Price should not determine the quality of real estate service.
I provide quality real estate services no matter the price of the property. These four projects exemplify this, three of them were listings, one was a purchase. The four properties were not only different in price but unlike each other in many other ways. Each had its own challenges, some of them I anticipated, others were unexpected.
Where is the land?
Real estate service: $40,000 purchase price
The hard part
When it comes to land, the real estate mantra “location, location, location” has a whole new meaning. The most difficult aspect of this transaction was determining the exact location. Surveyors were booked for several months out.
My client, already living on the peninsula, was determined to find out on her own. Walking the property it became clear that some features of the landscape restricted its usefulness. Since it still served the intended purpose, I negotiated a substantial price reduction.
The easy part
My client was formerly a real estate agent and able to assess the risk. We understood the process. Still, some people wonder why I would do business as far away as the Olympic Peninsula.
It’s because I love the beauty of the pacific northwest, and if I can combine a day’s outing with business why not? This wasn’t my first client for whom I found a piece of land around the Quilcene area. The first one was a German buyer eight years ago. His five acres has proven to be a good investment.