Commercial Real Estate Focus: Improving Tenant Satisfaction

Tenant Satisfaction Is Key To Asset Performance

Making sure that tenant satisfaction is on the higher end of the scale is one way to improve the bottom line of your asset.

Turnover in commercial real estate costs money and ultimately has longer term effects on your asset’s return depending on length of vacancy and other factors.  The overall costs of procuring a new tenant can balloon in comparison to keeping an existing one happy so commercial real estate tenant satisfaction should be at the top of any building owner’s list of priorities.  Make sure you have a commercial real estate broker who also shares this philosophy and pay them handsomely for a job well done. It’s worth it.

Don’t believe it?  The numbers can be stunning. The lost rental income alone can be devastating on a building’s CAP rate, but then add in other less obvious costs of getting a new tenant in such as leasing commissions, tenant improvements (TIs), constructions time of improvements, and even tenant attracting perks like free rent.

Be Actively Involved in Commercial Real Estate Tenant Satisfaction

Instead of being passive and losing a tenant who is dissatisfied – or even not satisfied enough, have your commercial real estate broker actively combat vacancies.  They should be able to look at all contributing tenant satisfaction factors plus be able to  “crunch the numbers” to come up with a creative tenant retention program that can truly add to your bottom line.  The commission involved in hiring the right commercial broker is irrelevant if it can save you half a million to a million dollars in losses or add to your bottom line potential.

Some of the considerations your broker should have a grasp on regarding commercial real estate tenant satisfaction:

  • A good working knowledge of how to set realistic tenant expectations by first finding out what their perceived value of the property is – what are their prioritized needs?
  • Creating an image or package of value and increasing the value proposition for future and current tenants through an active campaign
  • Top notch management and maintenance services should be hired by your broker – crucial
  • Keeping tabs on future company plans for each tenant which may affect long term tenancy.
  • Making sure that tenants are recommending the building to outside prospects.

About Our Commercial Division: Cooper Jacobs Real Estate Group has a thriving commercial division.  With offices in Portland and Seattle as well as Commercial Associates in California, Idaho, New York, Maryland, Pennsylvania, Hawaii, Alaska, New Jersey, Florida, Texas, Colorado, Arizona, Nevada, Connecticut, Massachusetts, New Hampshire, Virginia, Delaware, and Minnesota, we offer full service for all your commercial real estate needs including creative marketing and listing services.

Seattle Commercial For Sale | Portland Commercial For Sale

commercial@cooperjacobs.com

Seattle Floating Homes For Sale – Houseboats Holiday?

Seattle Houseboats For The Holidays – Flo Villa Floating Home

Seattle houseboats for sale

If you are interested in living on one of our city’s gorgeous Seattle houseboats then there are only two choices available in the Seattle floating homes real estate market.

There are two Eastlake floating homes for sale currently in the MLS.  One is on the Flo Villa dock and the other is on Wards Cove.

These Lake Union floating homes for sale range in price from $775,000 to $3,295,000 and are quintessential examples of Seattle Houseboats Living℠ and waterfront living in Seattle overall for that matter. What better way to live closer to the water than Afloat In Seattle™ anyway? Let’s look at one of our current favorite Seattle floating homes on the lake.  This gorgeous remodeled Lake Union floating home resides on the Flo Villa dock at 2207 Fairview Ave E in Seattle’s Eastlake neighborhood.  Moorage is secured and with dock approval you may be able to add a recreational boat as well. This gorgeous home was recently listed at $775,000.

2207 Fairview Ave E #11 From the MLS listing description:

The iconic lifestyle you have only dreamed about! Located in Eastlake’s enclave of floating homes, this mid-dock light and bright Lake Union beauty is completely remodeled with an open floor plan featuring 1 BR + flex space, vaulted ceilings, bamboo fl, & new kitchen! Enjoy cozy extras like heated bathroom floor, new electrical, plumbing, windows & insulation. Enhanced further only by the timeless willow tree that also resides here, this home has a great relationship w/ the lake.

  • 1 Bedroom (there is room to add a second bedroom if desired)
  • 1 BathSeattle Houseboats
  • 832 sq feet
  • Built in 1918 but completely remodeled
  • Annual taxes $1,042
  • Bamboo floors
  • radiant heated floors in bath
  • new kitchen
  • newer windows, roof, etc.
  • lots of energy efficient choices went into the upgrade of this one
  • new electrical and plumbing
  • vaulted ceilings
  • open floor plan
  • well organized dock
  • securely owned moorage

We are Seattle Houseboats Realtors and Your Seattle Floating Homes Experts:

We would love to show you this beautiful and thoughtful floating home.  Would you like to see this floating home or are you curious about learning more about Seattle houseboats on Lake Union or Seattle Waterfront Living℠? We would be happy to tell you all about it and show you some of our favorite spots around the lake, including this gem on the Flo Villa dock.

Molly Cartwright | 206.841.6800  | molly@cooperjacobs.com

Courtney Cooper | 206.850.8841 | cc@cooperjacobs.com

©Cooper Jacobs Real Estate

Phinney Ridge Homes: Guess How Many Offers

Phinney Ridge Real Estate Bidding War Galore

Phinney Ridge homes in Seattle are hard to come by as any buyer looking in the Seattle neighborhood knows. There are bidding wars on Seattle homes in many of the hot neighborhoods including Phinney Ridge.

Looking at this Phinney Ridge Listing from the NWMLS listing data:

“Prime upper Phinney Ridge real estate! Sunny east facing 4 bedroom 2 bathroom craftsman ready for renovation. Nice entry space transitions to open living/dining room & nine foot ceilings. Large open attic with seven foot ceilings and views! Lower level has good ceiling height,an over-sized family room,2 beds and 1 full bath. An easy stroll to the Zoo,local,eateries,breweries,coffee shops of Phinney Ridge,Fremont & Ballard. Detached 1 car garage has private driveway. Easy commute to downtown.”

Cooper Jacobs Real Estate was able to sell this Phinney Ridge home located at 4806 1st Ave NW in Seattle, WA 98107. This Phinney Ridge buyer is THANKFUL this holiday season because she beat out 16 other offers.  Yes.  There were 17 offers on this Phinney Ridge home for sale. Curious about how to beat 16 other Phinney Ridge buyers in a bidding war? We have been in the trenches for a while in the Seattle real estate market and are able to offer you the tips on winning in a bidding war for a house if that is your goal.

It is interesting when you have a Seattle listing in a neighborhood where you know you are going to get multiple offers. We aren’t pricing these homes too low as some believe. There just aren’t enough of them relative to the buyers in the marketplace. Some sellers have gotten greedy under these circumstances, but most remain fair and reasonable. We have seen some take the “better” offer instead of just the “highest” offer. This is always the best course of action when it comes to the most likely way to close the property successfully. So how do you become the “better” offer when you may not necessarily have enough money or means to be the highest one? That is exactly where we come in as she has demonstrated time and time again.  *We represented the Phinney Ridge buyer in this transaction.

Hiring a Professional Buyers Agent who can get your offer in front of the pack:

We can go through the tools you will need in your arsenal to purchase a home in a seller’s market. We also happen to have brokers who are extremely personable and well liked in the industry (insider tip: if the listing agent doesn’t like your buyers agent or your buyers agent has a reputation for being difficult to work with then it will translate to it being more difficult for you to purchase a home).  We can’t stress enough how important a Realtor’s character and reputation in the industry is when it comes to representing YOU.

realestate@cooperjacobs.com 206-236-9696

Maple Leaf Open House

Just Listed:  Maple Leaf Home

Open House Tomorrow: 11/15 1-4PM  (SOLD)Maple Leaf Homes

9408 5th Ave NE, Seattle, WA 98115

If you have been searching for NE Seattle homes, then please take a moment to stop by and see this one in Maple Leaf which is open tomorrow from 1-4PM.  Maple Leaf homes are always desirable and this one is no exception.

Here is what the remarks in the MLS listing say:

A sweetie of a house in sought after Maple Leaf neighborhood. Tastefully updated kitchen and bath. Light filled living room with subtle art deco touches throughout. Updated plumbing and electrical, newer double paned windows. Blocks to the Northgate transit Center, Northgate Light Rail Center and I-5 freeway entrance. Fenced backyard and newly landscaped front yard. Partially finished basement ample storage and laundry area. Restaurants are a stroll away. You will love this house!

Additional Information

  • Property Description Cable TV, Partially Fenced, Gas Available
  • Taxes $3,665
  • Lot Size 0.11 Acre (4,930 SqFt)
  • Garage Size 1 Car
  • Exterior Wood
  • Fireplaces 1 Fireplace
  • Heating/Cooling Forced Air,
  • Roof Composition Roof
  • Flooring Hardwood Floor, Vinyl Floor, Wall to Wall Carpet

More Information on this Maple Leaf Home or others:

 

Therese Byrne  tbyrne@tmbyrne.com 206-660-9698

 

Queen Anne Condo On Olympic Place 98109

Queen Anne CondosQueen Anne Condos:

Just closed in escrow yesterday!

500 W Olympic Place

Seattle, WA 98109

Seattle Realtor Molly Cartwright did a fabulous job representing the seller of this Queen Anne Condo.  We received more than one offer and the property did sell for 101.97% over  list.  This is a good rate for a condo in that price range.  Please let us know if you have a Queen Anne condo for sale.  We have other buyers interested and Seattle real estate inventory is extremely low.

Queen Anne condos sell quickly so if you are a buyer looking for a home and want to learn more information about buying a condo, please let us know – we are happy to help and have been quite successful in representing our buyers in multiple offers.  We can help you with Queen Anne condos or other Seattle condos and have a great grasp on the current market and what it takes to buy a home in this environment.  We also have fun finding the cool view condos if that is what you are interested in.  The Space Needle views from Queen Anne never grow old and it is an amazing city to live in. Queen Anne is rich with history, but also extremely “with it” when it comes to what people want in their community. It’s an exciting place and we look forward to sharing our favorite Queen Anne spots with you.

Here is how you can reach us:

Molly Cartwright 206-841-6800 (call/text)

Courtney Cooper 206-850-8841 (call/text)

You can also email us at QA@CooperJacobs.com  We look forward to hearing from you.

Laurelhurst & Windermere Real Estate Market Updates

Laurelhurst & Windermere Real Estate

Market Update 2015

NE Seattle packs a punch in the real estate market – Here is the latest on two of Seattle’s favorite Northeast neighborhoods – Laurelhurst & Windermere

Let’s look at Seattle’s Laurelhurst neighborhood first:

Active Laurelhurst properties for sale: There are 14 ranging in price from $479,000 to $13,250,000.  In addition, there are a few Laurelhurst homes for rent if purchasing i

sn’t quite in your plans yet.

Laurelhurst Homes for sale with offers in on them:

  • 1 Contingent home listed for $1,195,000
  • 8 Pending in escrow ranging from $849,000 to $3,390,000
  • 1 Sale in the last 30 days that has closed in escrow at $825,000

In the last 30 days there has been one sale in the MLS: 4188 42nd Ave NE.  It was listed for $825,000 and sold for full ask on 9/14/2015 after 10 days on the market. Here are the details of the above: Laurelhurst Real Estate Market Details 10 2015

OK, How About Windermere Real Estate Down The Road?

Windermere real estateHere’s what is happening in Seattle’s Windermere neighborhood. There are 6 Windermere homes for sale and 2 Windermere homes for rent in the MLS currently.  The Windermere properties on the market range from $508,000 to $6,995,000.

Windermere homes for sale with offers on them:

2 Pending Windermere homes in the MLS, but it is actually one extensive Seattle waterfront property being offered for sale in a few different ways. So let’s look at the Windermere real estate which has sold in escrow through the MLS:

6669 NE Windermere Rd was on the market for 13 days.  It was listed at $2,988,666 and sold for $3,000,000 on 10/5/2015.

6445 NE Windermere Rd was listed for $5,350,000 and sold for $4,325,000 after 0 days on the market. OK? 80.84% of list price without really testing the market much.  Wasn’t our listing for sure, but ok. Dollar per square foot numbers still look good. This home also closed on 10/5/2015.

Please let us know if you are interested in buying or selling in Windermere or Laurelhurst.  We have brokers in the office that specialize in Area 710 of Seattle – NE Seattle, and we look forward to helping you meet your goals: NESeattle@CooperJacobs.comHere are the details of the above Windermere real estate information: Windermere real estate sold homes Windermere Real Estat eMarket Update 2015

Madison Park Real Estate Market Update 2015

Seattle’s Madison Park Real Estate Market In 2015

Madison Park RealtorsHave you been thinking about making a move to Madison Park?  Best known for the beautiful Arboretum it borders, Seattle’s Madison Park neighborhood also has a public beach on the shores of Lake Washington, views of Mercer Island and Bellevue facing east and some of the most beautiful luxury homes you’ve ever seen.

According to Realtor.com,  3,200 people live in Madison Park.  By comparison, in Ballard there are 36,500 people.  And believe it or not there are 7% less people who live in Madison Park today than this time last year.  The average person is about a 46 years old, but more folks in the 60 to 69 range actually live here.

What type of person enjoys living in Madison Park?  A person who likes boutiques, great food, and near waterfront living.  It’s dotted by local vendors such as Madison Park Hardware, Martha E. Harrison Flowers, The Original Children’s Shop, and what establishment wouldn’t be complete without an old fashion ice cream store (to eat while you walk towards the beach).

62 homes have sold so far this year ranging from $325,000 to $3,840,000.  So the average sold price is basically $1.2M resting at about $509.00 per square foot.  Gorgeous homes reside on street lined streets, there is one gated community named Broadmoor, and local schools for kids to walk to.  The proximity to downtown Seattle makes it attractive to people too.  Just cruise through Capital Hill and drop down the other side to be in Seattle’s financial district.

Madison Park Real Estate Market for 2015 is considered a neutral market:  Meaning there is 3 to 6 months of inventory (homes available).

Home For Sale in July 2015: 7 units.

Madison Park real estate market

Up 75% compared to the last month

Home Closed in July 2015: 2 units.

Down 50% compared to the last month

Home Placed under Contract in July 2015: 2 units.

Down 50% compared to the last month

Take a look at what has sold in the last 30 days for your  Seattle Real Estate Madison Park Market 30 Days market update.

The current inventory shows there are 4 condos and 7 single family homes for sale (including Broadmoor).  $399,000 will get you a one bed, one bath 813 square foot condo.  Top of the range is a $4,500,000 home with 4 beds, 4 baths and 7754 square feet of home cited on a 12,200 square foot lot.  For more Madison Park Real Estate listings, you can find them here:  Madison Park Homes For Sale Listed In the NWMLS now.

If you have any questions about Madison Park Real Estate, feel free to contact me.

Molly Cartwright
Seattle Realtor
206-841-6800 or molly@cooperjacobs.com

Three things to do to get a home if you’re a buyer in Seattle and you ‘just can’t right now’: Accredited Seller Representative talks getting what you want as a buyer in a seller’s market

Some neighborhoods have two weeks’ worth of inventory at the moment. (I’m looking at you, Magnolia, Ballard, Bryant, Green Lake, etc.) A less frenzied market would have 3-6 months worth of inventory. Less than three months’ worth is considered a sellers’ market, more than six months a buyers’ market. It doesn’t take an economics expert to tell you this is a hot sellers’ market. This shows no signs of letting up in Seattle proper any time soon given the number of well-paying employers in our beautiful city. But don’t despair! Here are three things you need to do in this market to successfully accomplish your goals, both lifestyle and financial.

With tenacity and the right action, your future home will move from idea to reality.

Be brave. Everyone who gets something worth having faces challenges and discouragement. Choose a Realtor who has the industry savvy, paperwork knowledge, and people skills to get your offer accepted. Then listen to that person’s sage advice. They can find out a lot of information pertinent to the situation that is not evident to the public eye. It may be outside your comfort zone to zoom in quickly with an offer, but so is needing or wanting to move and continually experiencing disappointment when your offer is rejected or you receive a notice that your favorite property goes pending before you’ve decided to submit an offer, all while the market continues to make up ground and appreciate. As a listing agent, I’ve seen plenty of offers that my clients didn’t accept, sometimes because of negligence on the part of the buyer’s agent in writing or submitting the offer. Pick a well-informed, experienced, full service real estate broker. Their services are free of cost to you and their representation is invaluable. If you have to call an office hotline to reach that person, so will a listing agent in the heat of trying to help their sellers figure out which offer to go with. (Hint: this never helps that offer’s cause. Time is of the essence because all offers received have expiration dates, necessitating timely communication on the part of your broker.)

Be ready. In a Seller’s market, you don’t have the luxury of sitting on the fence about a particular property once you’ve found what you’re looking for. Many homes will already be pending close within a week of being listed. Look at new listings as soon as possible, don’t wait for the open house.Your preapproval or proof of funds needs to be in place, and you need to stick with whomever wrote that preapproval letter once the seller has accepted your offer. Don’t screw up your financing by making any big credit purchases (cars, boats, etc) until after closing. Be available and respond as soon as humanly possible to texts, phone calls, and emails from your broker during and after offering on a property.

The home buying process isn't supposed to be relaxing. It's exciting! You can relax on your new porch after closing.

Be flexible. By this I mean, be aware that your initial vision for what you need and want may mature through the process as guided by the reality of what’s available and what you can afford. That huge yard or ideal floor plan may be worth compromising on if you find the right location or the location might turn out to be different than you had initially wanted, based on other things adding up to the right fit for you. People with millions to freely spend on a home have an easier time checking all the ‘want’ boxes. If you aren’t in that fortunate minority, focus on what you need. Add that garage or those stainless appliances as you go, or knock that wall down later for a more open feel. Your real estate broker should be able to point out which changes are feasible and steer you toward a qualified contractor. Property ownership has worked out the best over the course of history for those who are able to think and act in a long term context. The only thing you can’t change about a property is where it’s located. Unless you buy a house and have it barged to a nearby island, in which case call me because I want to help you crack the champagne bottle on the front of that barge.

Despite the limited inventory, right now is a great time to go after what you want. Be it a new house, or any dream you have in life! Fear is a powerful motivator, but not always one that helps us move forward. Enlist expert help, get educated, and go for it!

Katie Herrick is an Accredited Seller Representative, negotiations expert, and Director of Cooper Jacobs Luxury Properties Division, Seattle. She works regularly with both buyers and sellers in the Seattle area.

Just Listed in Maple Leaf!

Maple Leaf Homes For Sale:  Just Listed By Cooper Jacobs! (SOLD)maple leaf home for sale

Situated high above the street to capture the best views, take in Greenlake, the Seattle skyline and the Olympic Mountains. 3 bedrooms/1.5 baths with a finished non-comforming 4th bedroom/office in the basement, a perfect place to hide away for quiet. Modern kitchen with granite counters and stainless appliances. Full height ceilings in the basement. 1 car attached garage and fully fenced yard.  $629,950

More info:  502 NE 82nd St

Please email us for more info on this Maple Leaf home or others:

realestate@cooperjacobs.com

maple leaf home for sale

4209 Fremont Ave N Just Listed If You Would Like To Live In The Center Of The Universe…

The Center Of The Universe Just listed!  4209 Fremont Ave N

4209 Palatine Ave N

Are you looking for a home in The Center Of The Universe? Fremont homes for sale are in high demand and this is a fabulous place!!!  $650,000

From the listing for this Fremont home for sale in the MLS:

fremont homes for saleMarketing Remarks

Perched high above the street w/ an expansive sunny lot, just move in and be right at home in this updated and thoroughly remodeled Fremont Craftsman. Currently configured as a spacious two bedroom with a bonus room and deluxe living room, there is ample space to expand back to the original 4 bedrooms if desired. Open and updated floor plan and grounds are like no other w/ incredible outdoor spaces, a REAL oversized garage, extra parking, patios, gardens, more!

Features

Double Pane Storm Windows, Dining Room

Additional Informationfremont homes for sale

  • Property DescriptionCable TV, Deck, Partially Fenced, High Speed Internet, Outbuildings, Patio, RV Parking
  • Taxes$5,472
  • ViewTerritorial
  • Lot Size0.15 Acre (6,600 SqFt)
  • Garage Size1 Car
  • ExteriorWood
  • Heating/CoolingForced Air
  • RoofComposition Roof
  • Flooring Ceramic Tile Floor, Hardwood Floor, Wall to Wall Carpet

Features

Double Pane Storm Windows, Dining Room

seattle realtorsContact for more info:

Molly Cartwright  206-841-6800  molly@cooperjacobs.com

Listed by Courtney Cooper and Molly Cartwright, Cooper Jacobs Real Estate – Fremont Realtors