The school bell officially rang this week and yes, the school year looks different than one could have imagined. Hello 2020, you really are something! For many, this is a giant transition week in remote learning inside of our homes. The Smith’s are on day 4…what I learned you ask?

Don’t take a work call when you are cooking lunch. Yes, first day of school lunch went to the garbage burnt – round two pizza bagels turned out fine! Oops. What did my kids learn? The concept of a “snow day” is probably out the door for good. Ouch. Can you tell which student realized this and which one hasn’t yet?…

Ok, in all seriousness – this week led me back to school too. Time for me to get focused on my license renewal. And not a bad reminder for our kids to see that growth never stops. I traded in my summer threads for a refreshed back to school outfit (thank you Stitch Fix) and sunglasses for blue light filtering specs…

I’m giving a shout out to the NWMLS live instructor virtual classes. My first go with their virtual clock hours and I enjoyed it. Upped my mobile app game this week. Did you know you can air walk property lines within the HomeSnap app? (Note: not the kind of true line that you’d build a fence on; instead the kind that gives your buyer a general feel for where the lines are while you walk the property!). This kind of “did you know” content was worth the $15 and time.

…and more learning for me this week as I continue to explore, well – I’m just going to say it – my whiteness. Scene on Radio has an excellent podcast series, entitled – Seeing White. Sharing here. This week I’m digesting Episodes 1-6.

2020 has provided an open invitation to bring meaningful conversations into our lives. Being that our real estate work is people work, I’m focused on creating ways in which we are able to provide an environment to host intentional “cafe” style conversations. Feel free to join me in this space. There will be opportunity.  

Curious how I’m planning for this? Welcome (again) the concept of The Knowledge Cafe. Episode 20 of my double down podcast describes what goes into a successful cafe model. Here. Currently working on this craft.

Did you too miss out on those summer Canlis drive-in movies? I have a fix for you! Next week – two nights – movie details – location all right here! I’ll be there both nights (Thursday & Friday) – why? Because I hope to see you (miss you!), it’s for a good cause and rumor has it the documentary is excellent! Win/win/win. Easy client event done for you possible – socially distant, of course. Certainly a reason to reach out to people.

It’s time to put a wrap on this week and roll into a long holiday weekend. Real estate continues, the remote school bell gets a pause and all the while once again the PNW looks to be showing off her good side for our region. Not ready to put those paddle boards away yet! Welcome to Friday in productive work & play – safely! Here to help.

Note: When computing time for purchase and sale agreements, regard this Monday, September 7th as a legal holiday. Labor Day is a legal holiday under Washington law.

Ps, next week on my back to school edition: stats! Want to go to stats class early? Go look at the Pending Sales by Week – weekly data updated thru 9.2.2020.  Bonkers. *need password? Text me: 206.227.7133*

All in, for you.

Good morning. Although I adore writing, I’m going to step aside today (kind of) and share someone else’s writing. Why? Because Tara Haelle penned just about everything that has summed up my observations and conversations this week – both in my head and with others.

“How do you adjust to an ever-changing situation where the ‘new normal’ is indefinite uncertainty?”

“Our new normal is always feeling a little off balance, like trying to stand in a dinghy on rough seas, and not knowing when the storm will pass. But humans can get better at anything with practice, so at least I now have some ideas for working on my sea legs.“

…and what about real estate Laura? Great question. I’m focused on stories of people being remarkable. How about this one!

This story reigns from the Windermere Wedgwood office; and yes I share names.

Broker wins in multiple offers (20) on a house on a lake. Pending Inspection. Client lives in California and flies up for the inspection. It was a hot day. Broker wakes up early that day and asked himself, “what would David Prater do” in this situation. This though pattern led broker to pack a cooler with drinks & snacks so “I could be the full service broker that I am.” But wait, it gets better…

…he packs two towels and two pairs of swim trunks thinking maybe his client would like to jump in the lake before he hops back on a plane to CA to go back home.

Post inspection, with 30 minutes left on their ShowingTime slot, he then tells his client he packed said towels & trunks and sure enough they jumped off the dock into the lake, took a quick swim over to a community beach and back to the dock. A quick change of clothes, inspection complete and they went on their separate ways.

I put this story in the “being remarkable” category! Certainly a full neighborhood review was done by water too! Well done Bill Reilly, well done! And oh, why the “what would David Prater do” internal dialog that sunny morning for Bill Reilly? Oh, just another example of a 30 year Windermere vet who has rubbed off on another broker within an office. This stuff happens all the time in our offices; it makes us, US.

And to take this FWL blog post full circle – Tara Haelle’s article above speaks to a focus on maintaining and strengthening important relationships and being creative a this time to do so. She writes, “The biggest protective factors for facing adversity and building resilience are social support and remaining connected to people, Masten says. That includes helping others, even when we’re feeling depleted ourselves.“

Let’s continue to help each other build our reserves & create resilience so that we may each find our resurgence along the way in 2020.

All in, for remarkable. All in, for you. All in, for us.

…continuing to capture summer the Pacific Northwest with each blog post moving forward until we hit fall. Creating safe summer vibes where we can. Wherever I am, it always starts with an early morning routine – it travels with me, no matter what. The “Five Minute Journal” is gold to me – has been for years. What is non-negotiable to you?

On April 22nd of this year, I penned a blogpost in making that day a “checkpoint” within – our then, true “Stay Home, Stay Healthy” order. My gut tells me this is a good day to pay attention to another “checkpoint.”  Why?  This…

When our Stay Home order began, we sprinted through those days to adjust. Adrenaline got us thru. We stacked future transactions by checking in on people we care about. The market then hit bonkers while more and more brokers, buyers & sellers figured out how to operate their essential tasks safely. We set into longer miles of a marathon with endurance – a different set of muscles (adrenaline had worn off). Fortunately,  throughout these spring & summer months we were gifted mostly beautiful PNW weather as we stacked up long miles in what I will now state has turned into an ultramarathon.

Ok, deep breath! Checkpoint. I see an industry tired yet dedicated to showing up, helping people, continuing to adjust, commitment in helping & caring about each other and our communities. But, guess what…Sunday November 1st 2020 is coming.

Why does that matter?

November 1st 2020 is daylight savings time. The days become shorter, PNW weather gets wet & grey (sorry, it just does). We have’t done “this” (aka, 2020) as our landscape turns AND we have already ran an entire marathon (in life!). Are we prepared for fall/winter, are we prepared for the remainder of 2020 where we can control it?

Better stated, where are your reserves today; on August 21 2020?

That is our checkpoint today. It first starts with a check-in and an acknowledgment of going 100% full throttle in 2020. Could going 85% today give you space to build your reserves for the remainder of 2020?

 What is gold to you in building your reserves? What is non-negotiable? Can you get creative to still make these things safely happen? 

I’ll be sharing ideas worth spreading in the coming weeks – yet for today,, it is simply a checkpoint for each of us to take note of our reserves.

I’m here to help.  All in, for you. All in, for us.

If these chair could talk! I’ve been enjoying seeing and talking with many of you in the summer months. These chairs have provided me a respite from zoom and a safe way to connect. I’ll be working from Whidbey next week, yet if you would like some “chair time” before the weather turns – just let me know! We are ALL going to need to be creative into the fall and winter months in connecting safely. Building our reserves and vitamin D right now will help us endure. 2020 began as a sprint, became a marathon and now…well, an ultramarathon. I’m running each mile with you…

August Market Report

Outside of monthly stats, what micro trends are you seeing? They matter!

I have one story to share this week (more next week)…

[note: This is a real example. The brokers representing House A & B are respected and talented brokers. This is not a reflection of poor agenting, more so a reminder to continue to study micro trends to nail your craft each week]

What do you notice?

Which house sold for more A or B?

Buy how much? ($25,000, $50,000, $100,000, more)

Why?

Answer is: House A

What is the value of a seller provided inspection and sewer scope? Seems to me this story shows a real value (other factors involved too – just pointing one out).

Party of five: What are the rules?

Party of 5 anyone? I’m feeling the need to remind us where we are locally in flattening the curve. Answer is: it’s not flat yet. As the pandemic wears on and the summer weather turns ever more glorious, the temptation for us to gather with friends and relatives only grows stronger. But with COVID-19 cases continuing to rise across Washington State, it is more important than ever to follow a few basic rules about social engagements.

Full article here.

Ok, let’s wrap it up for today and fill our cups with a cool Friday evening beverage. To creating safe summer vibes in work and play as we head into another beautiful August weekend! Go Slow, Do No Harm.

All in, for flattening the curve. All in, for you. All in, for us.

– Laura

…continuing to capture summer in Seattle with each blog post moving forward until we hit fall. Creating safe summer vibes where we can and certainly doing things I’ve never done before in my life! My green thumb has been non-existent until 2020. Make pesto anyone?

Double Down podcast, Episode 21 dropped this week.  My frequent flyer guest, Demco attorney, David Daniels joined me again for “legal bites’ conversations.  Ep 21 had a repetitive theme – The Art of “working the problem.” Topics organically became items amplified because of our 2020 real estate Covid environment. Join the conversation and get ahead of scenarios before they become problems.

Double Down | Ep 21 | The Art of Working the Problem

Topics discussed at a glance: Legal Bulletin (New State Heating Oil Loan and Grant Program – actual program here) + Demco’s Legal Bulletins as a tool with your Buyers/Sellers + a brief rabbit hole in Demco’s beginnings (love it!) + an uptick in Seller not wanting to allow Buyer their walk through + strategy with Tenants + Force Majeure (NWMLS Form 22FM) + a new WRE General Addendum (or better yet; 11 stand alone clauses) – WRE Form 64.

Laura Smith | Windermere Real Estate Co. · EP 21 – Double Down – Legal Bites

All in, for “working the problem“. All in, for you.

And oh, looking for the first 20 podcast episodes? All right here.

Ps, July windermere stats out next week! We’ll dig in and digest “the science” next week.

…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 10^th.  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!“

…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.

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.

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.

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.

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.“

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

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.

Welcome to Friday, let’s sweep this week! I sure enjoyed watching the star-studded All In Washington: A Concert for COVID-19 Relief – it gave me a real sense of pride in seeing the sights & sounds of our state and people coming together for GOOD. I sure look forward to future days when we can roam a bit more freely and carefree within our state. Until then, I’ll continue to do my part in redesigning what summer will and can look like with health & safety top of mind for everyone around me. If you missed the concert, I noticed it is hosted on Amazon – here. Rumor has it, the event raised $48 million for Coronavirus relief! Way to go Washington!  [Seattle Times write up here]

On the flip side, there was a topic this week in our local footprint I wasn’t so proud of…to discover truly how far and wide racial restrictions can be found within our neighborhoods – namely, within CC&Rs. To dig deeper, I asked Michelle Barry to be a guest blog writer today and break this down into digestible bites for us.

Thank you Michelle for your willingness to pen this!

Some of what you’ll read says that the restrictions are “in your deed.” This isn’t really quite right….the language is in the CC&Rs which ultimately are part of your rights and responsibilities as an owner, but you very rarely see them on any deed created past the late 1960s.

We (CW Title) redact the offensive language in our master files. That does NOT change them at the county, it only means we do our best to not re-distribute this awful language in our title reports.

The only way to change the covenants at the county level is for the homeowners in the neighborhood covered by those covenants to vote to change them, hire an attorney to re-write them, have everyone sign it, and record it. They can also do a termination of the old covenants so those aren’t shown on future title reports. That rarely happens.

That’s why the State Legislature came up with a process for an individual owner to “renounce” (I guess the is the best word) the old covenants as it relates to their own property. The form is DIY, and they’ve created a no-cost way to get that recorded. Here’s a link to that process. https://depts.washington.edu/civilr/covenants_law.htm.

Another page of that website lists all of the areas with racial restrictions, so if a homeowner doesn’t remember what was in their title report when they purchased (hard to believe!), they can check this reference: https://depts.washington.edu/civilr/covenants.htm

If a homeowner wants to pursue this, they’ll need their legal description, parcel ID and other info. If you send us their address we can send that info to you and you can forward to them along with the link above.”

Michelle Barry
Account Manager |  CW Title and Escrow
206.992.1226 cell
mbarry@cwtitle.net