While I’m not about to equate showing houses to the physical hazards of, say, working on an oil rig or handling nuclear waste, the upcoming cold streak and the number of vacant houses without electricity are going to make for some interesting real estate showings in the Vancouver and Clark County market this next week.

One of the things I tell my home selling clients all the time is that we want the buyer to stay as long as possible during their visit. Heck, hope they pull up a chair and start redesigning the kitchen and then measure the living room to see if their sectional will fit.  All this bodes well for the seller, as the potential buyer starts to see how this house can become their home.

But, when it’s near freezing inside, well the warm and fuzzy feeling that’s hoped for fades and becomes a wanton dash for the car’s heated seats. (And, yes, that is a REAL picture I took from inside a house here in Vancouver during a showing last week…).

I understand - especially with some vacant short-sale and pre-foreclosure listings - the home may not have power. But if a seller, be it a bank with a REO property or a homeowner trying to salvage a sale before the worst-case scenario kicks in, really wants to enhance the opportunity to sell the house, spend a couple of bucks a month to at least keep the temps above the point where Jello sets.

I’m not asking for the staged smell of fresh-baked cookies, but the ability to hold an indoor conversation without the chatter of teeth and a serious concern for the onset of frostbite would be helpful.

Until then, I’ll make sure I have my new real estate agent showing toolkit - a lockbox key, my parka and a portable heater - for this weekends showings. Of course, if you’re looking for a hot deal in the Vancouver Clark County real estate market, let us know… we promise our service won’t leave you IN in the cold.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our state-of-the-art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver, Clark County Washington area. Thanks again for visiting.

While I “get” the concept of “limited representation” (you know, those flat fee listing options) to help sellers get some MLS exposure and find a buyer, it’s what you do AFTER you find the buyer that really matters.

I tell my selling clients all the time - finding the buyer is actually the easy part (although it has gotten to be a tad more challenging in the past year).  The hard part is keeping the deal on track and getting it to the closing table so a seller can actually maximize that equity.

Just try cashing an “offer” at the bank.

It’s that expertise in managing a deal that truly defines the value in the listing expense.  Sure, marketing costs money, nowadays lots of it.  But marketing (or MLS exposure) alone is not going to get it done.

Why this discourse?

I subscribe to a local real estate “forum” where folks post ideas, comments, deals, etc… I find it amazing that people will turn to anonymous posters - with varied agendas, experiences and perspectives - for advice on how to handle contract negotiations. Earlier this week, an email to the anonymous group was peppered with…

“Is it feasible…”
“Do any of you folks have suggestions for me…”
“I have a plan on counteroffering. Open to your ideas and experiences!”
“Any suggestions would be greatly appreciated!”

Seriously.  These are actual statements.  From a seller who had the house “listed”, but had no/limited “representation”.  And this level of uncertainty is at the offer stage… what happens going through contract negotiation of terms and conditions, disclosure, inspection, underwriting, appraisal, title, escrow, etc…

Look, don’t get me wrong, I don’t fault someone for trying to save money, especially in this economy. But the premise of penny-wise and pound… well, you know the one I’m talking about.

The offer was $70,000 below the asking price.  I’ve talked again and again about whether this List Price was even correct to start with. But regardless, with that type of discrepancy and that level of uncertainty, the money spent of securing solid, experienced representation of a seller’s best interest in a transaction of this magnitude can not be undervalued.

But hey, I’m smart enough to admit I may be a tad bit biased in my viewpoint.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our state-of-the-art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling

If you’re going to have go there eventually, why put off the inevitable?

I’m talking, specifically, about those two words sellers fear and buyers expect “Price Reduced”.

It doesn’t HAVE to be that way though.  I’ve recently had the chance to dig deep into some data.  I did a dissection of some Real Estate stats from the Vancouver, Clark County real estate market during September, 2008 that puts a huge exclamation point on the old adage “Priced right is half Sold!”

I took a detailed look at the sold Single Family Residential homes in September, 2008, specifically looking for correlation between Sales Price and Days on Market.  The results were nothing short of startling.

Of these sales transactions, 27.4% sold in less than 30 days,  I found this to be a surprisingly high number, based on the current state of the market.  Additionally, nearly one-third (32.7%) of the transactions took 100 or more days to sell, a number I thought would be higher.  But then I remembered: this data was based on the now-modified concept of “Current Days on Market” - which only defined market time based on the most recent active listing for that property (vs. Total or Cumulative Days on Market - which is, get this, based on the cumulative days on market…). Anyhow, I recently dissected this change and what it means to time on market.

More to the point, however, was the Pricing aspect of all this.  Get this:

Of the homes that sold in 30 days or less, the Sales Price was, on average, a miniscule 0.44% discount to the original asking Price… in other words, over 99.5 Cents on the Dollar to their asking price. Wow.

But, as always, there are folks who start out high, hoping for the best, before the reality of the market pulls the rug out from underneath them.  Of the folks who sold with a “Current” Days on Market time of over 120 days, their selling price was, on average, a whopping 14.61% drop from their original asking price.  And with an average current DOM for these folks of 193.3 days (yes, almost seven months)… well, I bet they wish they had just priced it right to start with.

Again, it seems a house - priced right - is half sold. Especially houses for sale in today’s Vancouver and Clark County real estate market. Assuming you had already eliminated dart-throwing or pulling a number out of a hat as the best way to price a house for sale, for more in-depth analysis and a well-thought out selling strategy I know a guy who can figure out how to put two halves together and get a house sold.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our state-of-the-art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area. Thanks again for visiting.

Finally, RMLS - our local multiple listings service for real estate in Vancouver and Clark County - has caught wind of a tricky tactic that was happening way too often.

Recently, we noticed some real estate listings that simply looked too good to be true.  I mean, I realize short-sales are all the rage, and there have been some screamin’ real estate deals for smart buyers out there.  But the “List Price” on some of these left me scratchin’ my head and searchin’ for my checkbook.  (Right, like I could have done any damage with the latter of the two, but I digress).

First, some school: List Price is defined as a published or advertised retail price of something that can often be discounted by the seller, or a basic published or advertised price, often subject to discount, or even the price at which a product is usually sold to the public.

In all of these definitions, it is an established price, and for the most part, one which a buyer can assume is somewhat negotiable.  Of course, normally - and especially in this market - one would assume the negotiations could generate a reduction from the list price. But there’s the rub. In a questionable marketing ploy, some listings seem to have been priced to simply generate buyer leads.

Sure, there have been real, stupid-cheap real estate deals out there (usually with some big strings attached), but in some cases, listings seem priced simply to pull buyers out of the woodwork, with no true intent to sell at that price.

Well, now according to the MLS for Vancouver, “Listing a property at a lower price than what your seller is willing to accept is a violation of RMLS™ Rules and Regulations (see section 8.5).  Properties listed for less than the seller will accept obviously attract attention because they are literally too good to be true.  Enticing buyers with false information is unethical.” (emphasis mine).

Good. The last thing we need is bait and switch, loss leader tricks in this business. From now on, when you see that house on Craigslist, priced tens of thousands below market value, think twice, and then give me a call or shoot me an email… we’ll get the real story, and you won’t have to worry about being fodder for P.T. Barnum’s historical phrase. (which, by the way, did you know he never actually said…)

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our-state-of-the art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area. Thanks again for visiting.

We’re a little off-topic today, being Veteran’s Day, but there will be plenty of days to get back to Clark County’s real estate adventures.

Let’s not have today become the forgotten holiday. Too many people died face down in the mud so we could live our lives in freedom.  Sure, there are days when we may be frustrated with work or our government leaders or other complexities of life; but we live in a country where we have freedoms that billions of others world-wide only long for.  When you think of that, it provides more meaning to the day.  This morning, as our family discussed the reality of what today meant, especially to our kids (besides a mid-week day out of school), my ten year old shared this poem he had written.

V - Victorious soldiers leave the war;

E - Eleventh Day, Hour, and Month;

T - Together, America stands;

E - Even in Iraq;

R - Ready we are, again and again;

A - Another soldier home, hooray, hooray;

N - No more war to come near;

S - So long, war, so long.

It is imperative that we share the stories of the sacrifices of those who have gone before us with those who come after us.  When I think about it, I realize my ability to write this blog, to speak my mind, to even live as I choose, is an indirect result of the sacrifices made by those before me who stood firm in support of our country and our freedoms.

Mankind must put an end to war before war puts an end to mankind.

John F. Kennedy

For myself, and for those who come after me, to all you Veterans, THANK YOU.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our-state-of-the art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area. Thanks again for visiting.

Mercifully, we are down to the final hours of a 700+ day election campaign.  And two things come to mind.

First, ever thought it strange that someone campaigns two solid years for a position that may only last four years.  Doesn’t seem like a very good ROI there… just sayin’.

And secondly, is there any more appropriate ending of a word for what these election cycles put us through than camPAIN.  Pardon the Freudian slip on the spelling.

Anyway, as most of us will be away from the TV, (again, maybe mercifully?) throughout the day, I came across a great set of links, courtesy of Mashable, that might help you stay on top of it via the web.

Electoral Map Projections

270ToWin.com - To win the election a candidate needs 270 electoral votes; this site shows you what the current projections are.  Breaks down polls, runs simulations and gives you a detailed history on how each state has voted.

Electoral-Vote.com - A map of the electoral votes that is updated daily with the newest data on how the states are breaking down.

ElectoralMap.net - This map is based off of the Intrade prediction market and can be backed up to May of 2008 to see how the map keeps changing.

FiveThirtyEight.com - 538 refers to the total number of electoral votes that are up for grab and the site provides a standard breakdown of how they see the electoral votes turning out, as well as news and in-depth analysis of possible election scenarios dependent on various factors.

Politico.com - The Politico’s map shows you the latest polling data, focusing heaviest on the states that are still too close to call and how they may swing to decide this election.

Poll Tracking

Gallup.com - The election 2008 poll results from Gallup, one of the best known polling companies.

Pollster.com - Tracks various polls and gives you updated charts on how each candidate is tracking.  Also offers an electoral map as well as analysis of what each poll means.

RealClearPolitics.com - Features poll breakdowns by state. You can also see a national overview that shows you which candidate is in the lead in each state and by how many points.

USAElectionPolls.com - Brings together information on national and state polls, battleground polls, house & senate polls, and more.

So there you go. Knock yourself out.

I have to admit, I have nearly abandoned twitter and facebook over the past week, as I grew weary of the non-stop, unproductive, fur that was flying on the web.  Don’t get me wrong, I took Political Science in college, and at one point, I was completely, unabashedly enamored of the political process. Big-time. <sigh> It’s just a different political landscape out there now.

Despite that landscape, and regardless of who you decide to vote for, please, at least exercise your right to do so.

Needless to say, I have been in some bizarre situations during showings in my real estate career.  You do this long enough, and you come across all kinds of, shall we say, “interesting” things.

I have to admit though, the “dead clown in the garden” problem just hasn’t happened.  I guess I should consider myself truly fortunate.

So in the spirit of Halloween (nice play on words, huh?), here’s one of my favorite real estate videos.

Honestly, if I were these buyers, I would be more terrified about how the agent continually changes the subject and ignores his concerns than I would be about the “foreboding sense of evil”.

But hey, if you are looking for a house nowadays, congratulations… you definitely don’t scare easily.  And we should talk, because I can help make sure your purchase doesn’t become a nightmare.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our state-of-the-art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area. Thanks again for visiting.

Well, not really, but the headline caught your attention, no?

Days on Market (how long it takes a home to sell in the Vancouver/Clark County market) jumped from 75 in September, 2007 to 146 in September, 2008, a 94.7% jump, at least according to the details in the way the Columbian reported the September number.  Yikes!

Now, as Paul Harvey used to say, the rest of the story.

Because of the recent challenges in the market, RMLS (the multiple listing service that includes Vancouver, Clark County and Southwest Washington) changed the way they calculated Days on Market (DOM).  The move seemed focused on changing seller’s “expectations” of how long it takes to sell.

The old way, a representation of the current listing DOM, was determined based on only the most recent real estate listing. Where the new “Total” Market Time, reflects the cumulative number of days on the market, including those from a previous real estate listing (so long as the house wasn’t off the market for more than 31 days in between).

Clear as Mud Pie?

Regardless of the complexity of the definitions and massaging of numbers, the new way is actually a much better reflection of the time it takes to sell a home.

Days on Market is a key factor in a listing, especially to buyers. Our free home search service on our site www.search360homes.com allows buyers to sort their search based on time on market, and in conjunction with our daily updates, is a great way to stay on top of the what’s new (or old, if you so desire) on the market.

For kicks, I searched our site and with a little sleuthing found that the “oldest” currently active home on the market has been for sale for 756 days, and counting.  Yes, Seven Hundred Fifty Six.  That’s a lot of time to make mud pies.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our-state-of-the art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area. Thanks again for visiting.

OK, no one can be all work and no play, especially on a Friday. So to the rescue we come…

Been a long week, but still have some work to do on the ‘puter and looking for a numbing way to spend a few minutes?

Kids want on the computer, but you’d rather have them do something more “creative”?

Well, have your cake and eat it too…  www.thisissand.com is a blast. Mindless fun and creative adventure to boot.

Check out these creative masterpieces by the Canton Crew.

Enjoy your weekend, there’s plenty of work stuff to get to soon enough.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, providing access to information and services such as our-state-of-the art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area. Thanks again for visiting.

Staying warm doesn’t have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money. When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn’t have to break the bank.

The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn’t have to work harder than it should. The goal: Conserve energy and keep more of your hard-earned dollars in your pocket.  After all, who doesn’t need to save a little money these days?

1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.

2. Properly maintain the heating system. Heating accounts for half the average family’s energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.

3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.

4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.

5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year).  Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.

6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.

7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.

8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.

9. Install storm windows over single-pane windows or replace them with Energy Star qualified windows. Storm windows reduce heat loss by 25 to 50 percent, and storm windows with low-e coating that reflect heat back into the room during the winter months save even more energy.  Look for the Energy Star label to maximize savings. Energy Star qualified windows reduce heating and cooling bills by an average of $345, but could be higher in cold and hot climates, compared with uncoated, single-pane windows. Can’t afford new windows just now? Tape clear plastic sheeting to the inside of window frames if drafts, water condensation, or frost are present.

10. Net big savings with a little label. When replacing appliances, light bulbs, electronics, or heating and cooling systems, cut energy bills by up to 30 percent ($600 per year) with Energy Star labeled products. Use compact fluorescent light bulbs (CFLs) in place of comparable incandescent bulbs. Find retailers at www.energystar.gov.

These and other improvements that impact the energy efficiency of a home can save home owners money in the short term and serve as a selling point to potential buyers later. Be sure to save receipts, documentation, and manufacturer’s information.

Not sure where to begin? Try the Department of Energy’s online energy audit tool at www.hes.lbl.gov.  And remember, you can always grab a blanket.

Thank you for visiting the Clark County Home Blog. Our goal is to be your one stop resource for all that is house, home and real estate in and around Clark County, Washington. The Clark County Home Blog provides access to information and services such as our state-of-the-art HomeSearch service. Your author, Mitch Canton, is Principal Broker for HomeSights Realty, a locally owned and operated real estate company, providing real estate services throughout Vancouver and Clark County, as well as neighborhoods such as Salmon Creek, Felida, Mt. Vista, Hazel Dell, Lakeshore and many others. We welcome the opportunity to put our experiences and resources to work for you whether you are buying or selling real estate in the Vancouver Clark County Washington area.  Thanks again for visiting.