It’s Friday, let’s sweep! |weekly “science” & a birkenstock

summervibes2

…continuing to capture summer in Seattle with each blog post moving forward until we hit fall. Creating safe summer vibes where we can! Finding the water to be a consistent respite within our Pacific Northwest.

Brief digestible recap of week ended 7/29/2020:
King County Residential Only:
Higher Sales and lower inventory resulted in months supply of inventory at 0.7.  The record low is 0.6 in March 2017 & 2018.
The number of new pending sales increased by 18% from 641 to 757 for the week ended 7/31/19 & 7/29/20. It is amazing sales are ahead of last year, when there is only half the amount of inventory to sell.

Weekly Sales are equal or greater than the prior year (9 of past 10 weeks).

Inventory is down 47% (4,492 7/31/19 decreasing by 47% to 2,401 as of 7/29/20).

Months supply of inventory is 0.7.

When months supply of inventory drops below 1.0, the following statistics are better indicators of the market:

*% of houses that sell above list price and by how much.

*% of homes that sell with 2 weeks or less of DOM.

*The 2 above statistics are reported monthly here *pdf, pages #3&5

July reports will be published by Monday August 10th.  The one disadvantage of these statistics are they trail the market by 30 to 45 days because they are based on closed sales instead of pending.  I expect July figures to be higher than June.

Note: need windermere stats password? As always, ask your staff or text me: 206.227.7133

And oh, another digestible bite: CW Title’s Michelle Barry shared with many of us today…”it’s shaping up to be the busiest August in real estate history. Covid pushed out spring market to summer months. If you have a listing coming on this month (welcome to August!), open title as early as possible!

didyouknow
…And a funny to wrap up this week! Piper told me – “mom, did you know that if a kid hands their parent something while they are on a phone call they will always take it from them?” I didn’t believe her…until this happened this week!
Yup, I’ve got my hands full! We all have our hands full in 2020. Hang in there! And shout if you need anything.

funny

All in, for us. All in, for Birkenstock summer vibes.

redpants

It’s Friday, let’s sweep! | Episode #20

water

…continuing to capturing summer in Seattle with each blog post moving forward until we hit fall. Creating safe summer vibes where we can! I am finding water to be a nice respite and consistently shows up as one of the PNW’s best sides! I wonder if the Kraken is in these waters? 

New Podcast Episode released! | Double Down Episode #20

The Knowledge Cafe

Knowledge emerges in response to compelling questions that “travel well” as they attract collective engagement and exploration throughout a system.” – 2001, Pegasus Communication, “The Systems Thinker”

I share the above quote to T up the release of Episode #20, Double Down podcast. In 2011 my path crossed with Kim (Porto) Cornicello – a now friend and then staff member at Windermere Real Estate Company. Kim set me on path a decade ago in how I look at strategic questions to elicit real conversation and with that, a forum to facilitate deeper meaningful conversation across large audiences of people. The model she shared with me is referenced as a “knowledge cafe.”

Beginning in September, I plan to host quarterly “knowledge cafes” across offices yet my intention with Episode #20 is to also inspire others to do that same. 2020’s global recalibration has given us all plenty of fuel to come together in more meaningful ways.

 For those of you who will join me, listening fully to Episode #20 will be important as I share the platform, detailed process and intentions around facilitating & contributing within a “knowledge cafe”. This next hour will give you your license to contribute and I’m sure hopeful you will consider! I am spending time between now and September bettering my abilities in using “collaborative technology” – aka, use of all bells & whistles of Zoom.

 The “knowledge cafe” model was developed for big worldly topics – yet it can be used anywhere with the right intentions and set up. Episode #20 is one hour, recorded outside, socially distant and with a crow or two in the background as surprise guests!

Laura Smith | Windermere Real Estate Co. · EP 20 – Knowledge Cafes

FYI, Episode #21 will be recorded next as a deep dive with Demco Law Firm around a new (released soon) WRE General Addendum and PLIA’s Heating Oil Insurance Plan currently transitioning to a Loan Grant Program. WA State’s new program should be available around July 20, 2020. Beginning information to digest here. We are reviewing the draft legal bulletin on this topic now with Demco Law Firm – this too, coming soon.

All in, for meaningful conversation. All in, for us.

thought

redpants

Let’s sweep this week | a “coming soon” edition…

waterballonsJPG

Capturing summer in Seattle with each blog post moving forward until we hit fall. Creating safe summer vibes where we can!

This week was spent on helping brokers artfully navigate actual real estate – no updating of COVID19 operational playbooks – instead, staying the course with current guidelines.

Instead, this week was more focused on helping to a clarifying 35R timeline response NWMLS (Form 35 1.C.ii), securing a buyer in backup as party #1 backed out after an hour in mutual (only for Seller to be better off), handling of disclosures when an estate sale is at play, etc…a sold week IN real estate.

Outside of the art of negotiations, this past week I worked on a handful of “coming soon” items worth noting on a weekend edition of Fridays with Laura. Thanks for being a reader!

Coming soon | WRE Form 64 | General Addendum

What? Another new form? Yup, and it’s a good one. I do think you’ll appreciate it. Additional general vernacular and clean up around these topics coming very soon:

Gaining permission to share inspection report with Seller (or not!) and what happens if reports are provided (when not asked for). Guardrails around Feasibility and agreeing to not share findings with Seller. A general View disclaimer. Further setting expectations between parties around Cleaning (and property & grounds maintained) prior to Closing. A mouthful on Hazardous Material disclaimer. An Automatic Extension of Closing Date language. Additional option in delayed Earnest Money deposit. Easy Assignment to another entity when Buyer is of controlling interest. Request for Proof of Down Payment. An “as is” clause.

There is a lot there within this coming soon Windermere General Addendum penned by Demco. WRE Form 64 has gone through rounds of drafts with us owners and will be released soon for education and market.

Episode7

Podcasts | Double Down Episodes 20 + 21

I’ve missed my podcast equipment and even more so the recording of conversations with meaning people + content. I’m back, starting this next week. Episode #20 will be focused on the power of strategic questioning to elicit deeper meaningful conversations. Beginning in September, I will be hosting monthly learning conversations throughout our offices – with you fueling the direction of conversation. Our use of Zoom – a collaborative technology to which many of you have become comfortable with will be our platform to host “knowledge cafes” = more details in Episode #20!

 Episode #21 will be a deep dive with Demco around the new WRE General Addendum described above and PLIA’s Heating Oil Insurance Plan currently transitioning to a Loan Grant Program. WA State’s new program should be available around July 20, 2020. Beginning information here. We are reviewing draft legal bulletin on this topic now with Demco Law Firm – this too, coming soon.

thankyou

This next topic is not a coming soon topic; it is a now topic. From me to you, a general BIG thank YOU. From my humble optics I do believe our local real estate industry (you) has adjusted well and continue to be doing all we can do to keep us in the current phase of reopening business and life. That said, WA State has hit another pause in moving forward based on the numbers around COVID19. While I continue to plan for a “what if” scenario if Washington State and our respective counties need to roll back to a previous phase, I am hopeful any/all of my planning can head to the garbage can. So, thank YOU. Keep it up; we are doing our part in moving forward, not backwards.

thought

Let’s do something fun together. When you finish reading this post, in the blog comment section, write one positive word about what is certain in summer. The practice of writing down what is certain in a continued uncertain environment can lift our everything. Not comfortable with the comment section? Text me your word: 206.227.7133.

The car goes where the eyes go.” – Garth Stein, The Art of Dancing in the Rain

…another way of saying, what you focus on expands.

I am certain of sunsets – as proof in Kimberly & Mark Hobbs time-lapse videos at their new mid-century Shilshole waterfront listing with 58ft of low bank!

5901 Seaview Ave NW: All Day Time-lapse. Evening Time-lapse. #sunsets

I am also certain I am “All in, for us.

redpants

Welcome to Friday, wait it’s Thursday! | twelve minutes…

sparkleon

Welcome to Thursday – Friday’s post comes one day early as we approach a holiday weekend! In our real estate calendar, tomorrow is a legal holiday under Washington Law. When computing time for your purchase and sale agreements, please do regard July 3rd 2020 as a “legal holiday” …and for the weekend ahead, be safe, keep calm and sparkle on. #happyfourth

podcastcolor

Do you have 12 minutes for me?

This week I’m hitting re-play on a podcast I recorded in February of this year. February feels like a decade ago that I’ve been in front of my podcast equipment – I miss it dearly! Good news, I have a new episode on the books for July. Can’t hardly wait.

Demco attorney, David Daniel & I dove into 5 topics from within Washington State’s 2020-2021 CORE Curriculum; Current Issues in Washington Residential Real Estate. These legal bites will hopefully help you navigate your real estate business with the highest level of professionalism – yet today I want to feature the first 12 minutes.

The first 12 minutes of Episode 18 is focused on Fair Housing – specifically in how to handle “love letters” from your buyer to seller. It is an appropriate time to bring this topic to the forefront as an industry. Think about it – do these letters encourage discrimination? Are we putting clients in a position to get caught up in Fair Housing laws without them even knowing it? Let’s brush up on what we need to know and how we can help!

Laura Smith | Windermere Real Estate Co. · EP 18 – Double Down; CORE legal bites

Keep calm, sparkle on, stay safe and next week we’ll focus on mid-year numbers – yup, half way through 2020.

All in, for us.

redpants