Cool new technology!

Anyone who really knows me understands that I love technology. While I try and portray a sophisticated and cool dude on the exterior, I'm really a nerd at heart. Take this cool new project that Microsoft is working on as a prime example. It's called Tagging.

Still in its Beta phase (aren't all MS products?) this software is designed as a marketing tool for mobile products. You need to have the latest in phone technology (which I do), and download a small application that runs on your phone. Currently, the software runs on Windows Mobile, BlackBerry, iPhone, Symbian S60 and J2ME enabled phones. Your phone also needs to have a camera and internet access.

The idea behind this software is to allow users to get additional information about products and/or services by taking a photo of a tag (or barcode).

Here is a tag I created and added to my email signature. If a user with one of the phones listed above snaps a picture of my tag, it will bring him/her to this Blog (try it! You need to put your camera really close to the screen).

How about this idea for a tag(s):

I negotiate an advertising fee with Microsoft and a bunch of retailers (restaurants, stores, etc...) in the UDistrict (that's near the University of Washington where my son attends) who would be willing to offer some sort of discount to persons via the tag. I then make a T-shirt with all of the tags on it that my son can wear throughout the day, advertising the retailer discounts.

I see several benefits:

1. The advertisers have increased traffic and revenue in their stores
2. My son makes a lot of new friends and becomes famous as a walking billboard
3. I make money to pay for my son's education

How would you use the tags in your life? Drop me a comment with your brilliant ideas...

The Death of Vanity Telephone Numbers

I discovered today that Vanity telephone numbers are on their way out. What do I mean by this? First a little history: In the 1960's, the telecommunications industry created the DTMF (dual-tone multi-frequency) system. This technology is the basis for our touch-tone telephone which replaced the old rotary phone systems. Long story short, it made dialing a telephone number much easier. Growing up, we had a rotary phone in our home (in fact, my grandmother still has one in her apartment!). Our telephone number was (415) 397-0973. If you are old enough to remember rotary phones, you'll understand how difficult this number would be to dial (especially the 9's and 0's). It would often take me many attempts to dial home, as I would put my finger in the wrong hole, or forget which number I was on.

Alas, I digress... Back to the topic at hand...

So, today I was in my car talking to my insurance agent, trying to file a claim. My agent gave me the claims number and said " just dial 1-800-allstate". She even offered to do a conference call and dial the number for me. Being the independent person that I am, I declined and stated that I would make the call myself and hung up.

Here's where the story gets interesting...

So, I'm driving in my car, trying to dial at the same time. On my previous cell phone, this would not have been a problem, as the keypad had the alphabet stamped on each number. You know the sequence right? ABC, DEF, GHI, JKL...

Guess what? I just got a new BlackBerry! Here's what my new phone looks like:



Notice anything different about it?

Yeah. The letters under my keypad are different than my old cell phone.

So I'm driving in my car, trying to remember what letters are associated with what numbers. I'm trying to call 1-800-allstate by dialing 1-800-144-6717. I get a message stating "The number or code you have dialed is incorrect". Darn! I try again. Let's see, #1 is ABC, #2 is DEF, #3 is GHI... Still no luck. I then called my girlfriend for help. Only then am I reminded that the letters start at #2, not #1. How stupid is that? So the actual number I should have dialed is 1-800-255-7828.

With the BlackBerry phone's rising popularity, maybe allstate should change their number to 1-800-EDD-ZXEX. On the other hand, maybe they don't want people dialing their claims line anyway...

A home for sale in Woodinville

I just listed a home in Woodinville on 1.35 acres. It has 4 bedooms, 2 1/2 baths and a 2 car garage. Ordinary you say? Perhaps, but what makes this property special are the other features like a huge shop (big enough for 6 cars) plus a 1 bedroom/den apt with 1 1/2 baths. IF that wasn't enough, there is also RV parking and a potential for equestrian usage (there's a fenced pasture). And, it is pretty close to the Tolt Pipeline. Now that's special...

The value of an Open House?

So, I'm sitting here at my new listing (see previous post) on Sunday July 6th waiting for the right buyer to drop in and make an offer on this great home. Yesterday, I knocked on doors within the neighborhood letting folks know that I just listed a home in their neighborhood. I handed out flyers and let everyone know that I would be holding the home open today from 1-4pm.

I've spoken to many other agents in the area who think door knocking and Open Houses are a waste of their time. They would rather stay home and complain about how bad the market is. In this slower market, I think a good agent has to think outside of the box and do things that may be outside of their comfort zone. Knocking on doors and sitting an Open House isn't the most exciting way to market a home, but I did get to meet several of the neighbors, and one of them even recognized my name from some of the other homes I've sold in the neighborhood.

Mill Creek Home for Sale

I just listed a home in Mill Creek, WA for $570,000. If you watch the top slideshow in the righthand column, you can see photos of this home. Probably the nicest feature of this home is the backyard. It is not a large yard, but it abuts a Native Growth Protected Area (NGPA) which means that nobody can build directly behind you. The natural area is private and offers a glimpse of wildlife from time to time. Given that this area has been developing at a rapid pace over the last several years, it's nice to actually have trees to look at outside your window!

The particulars:

5 Bedrooms / Den / 2.5 Baths plus the usual Family, Dining, Living rooms & kitchen.
3108 square feet, built in 2000

Check it out!

Market Dynamics from a different perspective

I saw a question posted on Trulia.com recently from a user wanting to know when the market would return to normal. My first thought was: What is a normal market?

Is "normal" what we experienced in the last several years, or do we go back further in time to gain a proper perspective? How far do we travel back in time to get to that "normal" market? 10 years? 20 years? In order to define normal, we first need to determine a baseline as to what constitutes that definition.

American Heritage Dictionary defines normal as:
Conforming with, adhering to, or constituting a norm, standard, pattern, level, or type; typical: normal room temperature; one's normal weight; normal diplomatic relations.

hmm... Seems like a circular reference to me...

In real estate, the term "normal" has come to mean a market in which there are an equal number of buyers and sellers to buy and sell homes at any given point in time. Statistically speaking, it takes decades of analysis and records to define that baseline, but what I find curious is that it is a fluid concept in that it is constantly changing, and is different depending on where you live. Someone living in Kansas will likely experience a "normal" market differently than someone living in Seattle. And, someone in their late 70's might define it differently than someone in their early 20's. This brings to mind a visit to the fair last week when I saw an antique gas pump that read $0.25/gal. An older man approached me, pointing to the pump and said "I remember when ____ (insert your favorite item here) was only $0.05"

Why do I bother mentioning this? Because after my first thought (what is "normal"), my second thought is: why does it matter?

Motivation drives the market, not the state of the market itself. In an up or down market, there will always be buyers and sellers. As a seller, if you don't have to sell, what does it matter what the market is doing right now? If you are a buyer trying to time the bottom of the market, then you obviously aren't motivated enough to buy right now, so again, what does it matter?

Let me provide an example for clarification: I had a seller tell me that if he had only sold his home last year, he could have sold it for nearly $100,000 more than in this current market. My question to him was "did you want to sell it last year?" His response was "no". Last year he wasn't a seller (let alone a "motivated seller"), so the state of the market had absolutely no bearing on his situation. This year, he needs to sell, therefore his motivation is driving the decision, not the market.

Bottom line: If you want to buy, then buy. If you want to sell, then sell. If you want to stay where you are, then stay where you are. If you're waiting for the market to return to "normal", it may never happen, nor does it really matter.

What are your thoughts?

Dear Seller...

"My family and I would very much like to purchase your home. I am a single gay man with 2 adopted, handicapped children..."

Have you ever written a letter like this to present to a seller of a home? I've done this on behalf of my clients before (not this exact letter, but something similar). And with good success, I might add. The New York Times recently ran a piece that spoke about this tactic (however, the content differs dramatically from what I've seen and written in the past).

Letters like those written in the article are perfectly acceptable in my opinion. What should be mentioned from a cautionary standpoint, are words that could be misconstrued as discriminatory in nature as defined by HUD (Housing and Urban Development). Title VIII of the Fair Housing Act prohibits discrimination against a variety of classes. So, even with the best of intentions in mind, a letter like the sample above could be a lawsuit in the making. I am thinking of using the letter from the NYT article though...

What are your thoughts?

Is it my agent's fault? (Part III)

So the house looks great, the information in the MLS and online is correct and attractive, the advertising is going strong, yet still only a handful of buyers have visited?

One myth that many sellers seem to believe is that real estate agents sell houses. We don't. Okay, I've let the cat out of the bag. The wizard has come out from behind the curtain.

When I describe what I do to folks, I tell them that I help people buy and sell houses. The key word is "people". Without "people", I would just be looking at homes, and living on welfare (which may be soon if buyers don't start buying). Sometimes, you can do everything right, and still have nobody come and look at your home. If there is nobody in your price range looking for a home with features that your offers, there is nothing that I nor any other real estate agent can do. I can't wave a magic wand and have a buyer appear. Some agents might promote that they could do this, but they'd be lying.

How do you gain visibility for your home if there are no buyers? I can't make buyers appear, but you as the seller can. How you ask?

You could lower the price (you've heard that before, haven't you?).
You could offer different terms (carry back a 2nd mortgage on the property or pay closing costs).
You could offer buyer incentives (appliances, etc.)

Lastly (and this is the hardest option for sellers),
You can be patient. A buyer will materialize sooner or later. They always do. Just don't kill the messenger. If your agent is doing what he/she should be doing to expose your home to the market, don't blame him/her for there not being any buyers around.