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Property Profile and Market Analysis James and Kellie

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1 Property Profile and Market Analysis James and Kellie
11501 Northpark Ave North, Seattle 98113 Prepared by: John Madrid, Source Real Estate July 15, 2005

2 About Source Real Estate
My Background • Seattle native with thorough knowledge of area neighborhoods and market trends • Over 15 years living in the North Seattle area. Currently in Wallingford. • Member of National Association of Realtors and Seattle/King County Association of Realtors • Accredited Buyer’s Representative designation, the benchmark for of excellence in buyer representation • 10 years of extensive sales, marketing, business development & negotiation experience with Microsoft Corporation • MBA in Marketing from University of Michigan and BA from University of Washington • Certificates in Construction Management & Residential Design • Consultant to University of Washington Business School and Seattle area Fortune companies • Member of Seattle Works Board of Directors • Results driven and passionate for both real estate & providing outstanding service About Source Real Estate • Since 1991, the professionals at Source Real Estate have helped over 3,000 Northwest families enjoy home ownership • We are a small, local team of customer focused professionals • We embrace technology to deliver outstanding value to our customers • We are dedicated to giving you great, personalized service and saving you money

3 How Source Real Estate Will Save You Thousands
• Typical real estate transactions cost 3% for the Listing Agent plus 3% for the Selling (Buyers) Agent • Many homeowners think this is too much and we agree • We provide full service but represent you for only 1 ½% Listing Office commission • We encourage you to pay the typical 3% Selling Office commission for maximum Realtor cooperation • Your total commission is 4 ½% • How much can you save? See below for what your savings could be on a variety of sales prices: Sales Price Typical 3% Listing Office Commission Source Real Estate Listing Office Commission Savings $800,000 $24,000 $12,000 $600,000 $18,000 $9,000 $400,000 $6,000 $300,000 $4,500 How Are These Savings Possible? • Technology has made it much easier to buy and sell a home, we pass the savings onto you • In 1997, 18% of buyers used the Internet to search for their home • In 2003, 65% of buyers used the Internet • Today, 100% of Realtors used the Internet to search for homes for their clients • The fundamentals of marketing a home still count • 86% of buyers work with a Realtor • 69% of buyers used yard signs in their home search • 48% of buyers used open houses in their home search • Buyers use multiple sources of information in their home search

4 When You List Your Home with Source Real Estate
You Get the Best of: • Internet Marketing – your complete listing is posted to the Northwest Multiple Listing Service (NWMLS) and automatically downloaded to some of the areas top websites including: - Source Real Estate - Coldwell Banker - Windermere - John L Scott - Realtor.com • Professionally photographed and design full color flyers • Yard signage • Broker and Public open houses • Aggressive marketing to Realtors – I follow-up on every showing • Help you set the optimal price for your home based on comparable homes recently listed & sold • Be objective and provide valuable feedback with regard to preparing your home for sale • Aggressively market your home to both Buyers and real estate agents • Keep you updated • Serve as your advocate by qualifying and negotiating with prospective Buyers to make sure you’re getting top dollar • Negotiate the sales contract on your behalf • Comply with the disclosures required by law • Provide an estimate of the closing costs and net proceeds • Help you prepare for a smooth closing of the transaction • Assist with Buyer financing, as appropriate What Else Will I Do For You?

5 Pricing Plan for Your Home
• 4 “P’s” of how quickly a home sells • Product = the home itself; # of beds/baths, sf, age, style, condition, etc • Place = location; proximity to parks, schools, bus lines, shopping/dining, busy streets, etc • Price = list price; absolute and relative to competition • Promotion = marketing; MLS, open houses, flyers, follow-up with agents and buyers • While your agent is primarily responsible for the Promotion piece of the mix, I can advise you on the other elements • Though a Comparative Market Analysis (CMA) is one of the best tools for determining what a home might sell for, ultimately the marketplace will determine the true value 4 Excitement Price Points that will determine sale success: • Priced above market value and showable = Generates low excitement • Priced right and not showable = Generates medium excitement • Priced above market value and not showable = Generates very low excitement • Priced right and showable generate max excitement This graph illustrates the importance of pricing your home at a realistic price from the very beginning. A property attracts the most excitement and interest from the market when it is first listed. The highest chances of a sale occur when its new to the market. Activity 1 2 3 4 5 6 7 Time on Market in Weeks

6 Why Now Is A Great Time to Sell
• Sellers Market = more buyers then available homes • Well priced homes may receive multiple offers and sometimes above the list price • Homes are selling fast – sense of urgency driving up average prices • Interest rates are still at historic lows which means more people can afford more home • Above conditions are not expected to last indefinitely • The closing date – When does the Buyer want to take title? • Date of possession – When does the Buyer want to take possession? • The earnest money - Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere Buyer • Fixtures and personal property - Check the list of items that the buyer expects to remain with the property and be sure it’s acceptable • Repairs - Determine what the requested repairs will cost and whether you’re willing to do the work or would rather lower the price by that amount • Contingencies - See what other factors the Buyer wants met before the contract is final. Inspections, selling a home, obtaining a mortgage, review of the contract by an attorney? Set time limits on contingencies so that they won’t drag on and keep your sale from becoming final. • Contract expiration date - How long do you have to make a decision on offer? Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2003 7 Terms to Watch For in a Purchase Contract

7 Low Cost Ways to Sell Your Home for More
• Trim bushes so they don’t block windows and cut down on light • Add new barking around plantings • Buy a new doormat • Put a pot of bright flowers (or a small evergreen in winter) on your porch • Put new doorknobs on your doors • Put a fresh coating on your driveway • Edge the grass around walks and trees • Keep your garden tools out of site • Be sure kids put away their toys • Buy a new mailbox • Upgrade the outside lighting • Use warm, incandescent light bulbs for a homey feel • Polish or replace your house numbers • Clean your gutters • Put out potpourri or burn scented candles • Buy new pillows for the sofa • Buy a flowering plant and put it in a window you pass by frequently • Make a centerpiece for your table with fruit or artificial flowers • Replace heavy curtains with sheer ones that let in more light • Buy new towels, shower and soap • Put a seasonal wreath on your door1 11 Steps to Preparing for an Open House • A clean home is essential; dirt will turn off a prospect faster than anything • Mow your lawn, and be sure toys and yard equipment are put away • Set out potpourri or fresh baked goods for a homey smell • Set the table with pretty dishes and candles • Secure your valuables, jewelry, and money. Although your Source Real Estate agent will be on site during the open house, it’s impossible to watch everyone all the time. • Turn on all the lights. Even in the daytime, incandescent lights add sparkle • Send your pets to a neighbor or take them outside. If that’s not possible, crate them or confine them to one room (a basement or bath) • Consider removing one or two major pieces of furniture out of every room to create a sense of spaciousness • Put away kitchen appliances and personal bathroom items to show more counter space • Lay a fire in the fireplace or put a basket of flowers there if it’s not in use • Turn on the sprinklers for 30 minutes to make the lawn sparkle Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2003

8 Moving Tips for Sellers Items to Be Left for the New Owners
• Give your forwarding address to the post office, usually 2 to 4 weeks ahead move • Notify your credit card companies, magazine subscriptions, and bank of the change of address • Develop a list of friends, relatives, and business colleagues who need to be notified of the move • Arrange to have utilities disconnected at your old home & connected at new one • Cancel the newspaper • Check insurance coverage for move. Usually movers only cover what they pack. • Clean out appliances and prepare them for moving, if applicable • Note the weight of the goods you’ll have moved, since long-distance moves are usually billed according to weight. • Have a “first open” box with the things you’ll need most—toilet paper, soap, trash bags, scissors, hammer, screwdriver, pencils and paper, cups and plates, water, snacks, and toothpaste. • Owner’s manuals for items left in the house • Warranties for any items left in the house • A list of local service providers—the best dry cleaner, yard service, etc. • Garage door opener • Extra sets of house keys • Code to burglar alarm and phone number of monitoring service if not discontinued Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2003 Items to Be Left for the New Owners

9 Useful Links and Numbers
• City of Seattle - • Seattle Public Schools - • Seattle PI – • Seattle Times – • Seattle Times School Guide - • Seattle Time Neighborhood Guide - • Seattle Times/PI Un/Subscribe - • US Post Office Change of Address - • Gas - Puget Sound Energy • Electricity – Seattle City Light • Garbage/Water/Sewer – Seattle Public Utilities • TV/Internet – Comcast • TV – Direct TV • Phone/Internet – Verizon • Phone/Internet – Qwest


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