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Kenmore, WA Real Estate News

By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
JAMES LUPORI YOUR FRIENDLY NEIGHBORHOOD REALTOR COOKS BISCOTTI I was a professional cook for many years prior to my life as a Realtor. Some of my fondest memories were in the kitchen helping my mom with meals. I began cooking in restaurants when I was 16. Over the years I’ve learned how to prepare a huge array of cuisines and during the holiday season I love to bake Italian Biscotti or “twice cooked” cookies. A lot of people ask me how to make biscotti because they seem complicated to most people. The fact is, biscotti aren’t hard to make. They do tend to be ingredient intensive, yet, the ingredients are fairly easy to purchase at your local grocery store. I’ve wanted to do a visual explanation of the process for a long time. Finally (because we’ve been snowed-in for the last two days) ...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Yes, the picture above should give you an idea of how much snow it takes to TOTALLY PARALYZE a major metropolitan area: Seattle. You can’t imagine how many calls I’ve received from friends around the country who simply can’t believe what a bunch of weather wimps we are here in the Northwest. I won’t even dignify them by repeating the dispariging things they say. Heck, almost made me cry! Seriously, the Seattle area is NOT set up to deal with snow. The topography is quite hilly and we are subject to a complex array of wind conditions and bodies of water. Not only do we receive cold wet winds off the Pacific Ocean and Puget Sound, but we also get blasted by uber-freezing gusts from Canada. When the winds and moisture come together as snow, the locals head indoors and hibernate. What’s mo...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
I'm suffering from a bit of cabin fever. The snow and frigid temperatures here in Kenmore and the greater Seattle area have basically put a halt to normal life. I've had too much time to think about all the chaos and grim news out there. I'm going a little bonkers and my wife is about ready to strangle me. Well, things turned around yesterday morning in an interesting way. I read two obituaries of two icons of American culture, and listened to a radio program that re-calibrated my thinking. I'd like to share some thoughts (and the quote of the week) with you: W. MARK FELT - aka DEEP THROAT W. Mark Felt who died this week at the age of 95 may be one of the most influential figures of modern American history. His role as the anonymous informant to the Washington Post reporters, John Woodw...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Yesterday was a classic snow day! I hate the snow, but I love an excuse to relax and enjoy some of my favorite pass times: reading and watching movies. Earlier in the day I finished an excellent book entitled ”Outliers” by Malcolm Gladwell (more about this in a future post). I also watched an interesting, yet dark movie entitled “Assassination Tango.” Assassination Tango is a complex thriller, written by and starring Robert Duvall who plays John J. Anderson, a professional hit man from NYC who is hired to do a job in Argentina. There he discovers the world of Argentine Tango which consumes him even though he’s a cold hearted killer. It’s a story full of irony, violence and sublime dancing sequences. I highly recommend the movie (although Rotten Tomatoes only rated it a 48). Robert Duval...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Over on Gigharborundressed.com my esteemed colleague, Matt Thompson, mentions that he LOVES snow. It's interesting that we both grew up in Utah: Matt in Park City and I in Layton/Salt Lake City. Funny thing is, I love snow as well...................BUT I ABSOLUTELY HATE WHEN IT SNOWS IN THE SEATTLE AREA!!!! Whew......glad I got that off my chest. Even so, it sure is pretty: UNIVERSITY OF WASHINGTON I took these pictures at the University of Washington this morning after first taking friends to SeaTac Airport and then dropping my wife off at work (at the UW). The traffic was literally insane! I'm surprised anyone survived out there! MY NEIGHORHOOD IN KENMORE (BRIDLE PATH) As you can see, my neighborhood is blanketed in a few inches of fluffy snow. Pretty but I hate it! I can't wait until...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Take advantage of an excellent NAR service: The Realtor.org Virtual Library. I wasn't aware of the Virtual Library until I received the December 2008 Realtor.org Essentials newsletter. Frankly, I'm amazed at the number of titles and the diversity of the subjects included in the library.   In order to find the Library, go to the NAR website, sign-in and then click on the Education section. Then find the eBooks Collection which is listed on the right hand side of the page listed under "IN THE LIBRARY." You will then come to the following:   Then the fun begins. Choose from subjects such as Personal Growth, Management & Leadership, Foreign Languages, Technology and much, much more. Just pick a book or subject you'd like to check-out, select it and you will be given choices on how to receiv...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
I don't know about you but, as an American, I've been doing a lot of soul-searching these days. I'm floored by the sheer number of scandals, deceits, rumors, betrayals and contradictions in the world. It's mind-boggling. It's made me a bit testy and cynical and impatient. Recently, here on AR, I had a verbal confrontation with another agent regarding unflattering comments he made about the President Elect. I was offended by his lack of candor and his "speaking-in-code" rhetoric. I felt justified in calling this gentleman out for engaging in what I felt was "intellectual dishonesty." Of course, discussions of this type are rarely productive. Everyone ends up even more assured of his/her convictions than at the beginning of the argument. Ultimately, reasonable people can agree to disagree...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
The November 2008 real estate sales statistics for Kenmore were to be expected given the chaos and uncertainty gripping the overall economy. As I’ve suggested in earlier posts, our financial system is paralyzed without two of the most important ingredients for success: CONFIDENCE & COMPETENCE. Until buyers and sellers feel that the market makes sense, it will remain extremely difficult to bring them to the table. Until lending institutions begin to loosen underwriting standards, even qualified buyers will hesitate to make offers. It’s ironic, because home prices are attractive right now. Here are the numbers: KING COUNTY SINGLE FAMILY HOME SALES Click on the picture below to see the details: Sales of single family homes were down -58% in Kenmore from a year ago (8 in 2007 vs 19 last ye...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
People laugh when I say that blogging makes you smarter. "You can't be serious," they say, "isn't every Tom, Dick and Mary out there writing whatever comes into their minds and then blabbing it out to the world? Actually, this is a great question because it raises important issues such as: What about fact-checking: How does the reader know that the blogger is really researching a subject? What about journalistic integrity: Are bloggers utilizing legitimate sources and cross-checking them? What about plain old truth-telling? How can I know if a blogger is sincere? Let me be clear: Whole books have been written about the problems with blogging. Probably one of the most thoughtful is Andrew Keen's "The Cult of the Amateur." His premise is that the internet is literally killing our culture!...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
  The end of 2008 is turning out to be one of the most challenging real estate markets in decades. A huge number of difficult factors have converged in a sort of "perfect storm" which has utterly destroyed confidence in the market. Even after the Fed provided capital to help stabilize the financial markets, consumers aren't out there buying up homes, even though prices have softened. To illustrate how slow things are, please turn to the following charts which represent "absorption rates" for November: PUGET SOUND ABSORPTION RATES Absorption rates are based on the ratio between active listings and the net number of homes that are in the sale process. According to the charts above, only 8.2% of the listed homes were absorbed in November. KING COUNTY ABSORPTION RATES King County fared slig...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
As we near the end of 2007, real estate "experts" with some crazy predictions are sprouting up like so many weeds in the garden. Perhaps some of the newly unemployed are spending more time in front of the computer, perusing the statistics and attempting to draw conclusions from all the grim news coming out of the press. The truth is, the REAL experts don't seem to have any better grasp of reality than the amateurs. Take the most recent Northwest Multiple Listing Service press release dated Dec. 4th: Prices down Pending sales down Inventory dropped 1.8% (still the largest inventory in years) Rising foreclosures and bankruptcies What conclusions do the MLS experts draw from these facts? Housing activity reflects "microclimates!" This is just a fancy way of saying that real estate is loca...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
The last time we visited Vancouver, BC was well over ten years ago. At that time we spent most of the day in Chinatown during a festival with dancing dragons, thundering traditional drums and fire crackers.  We also managed to visit the ”uber-touristy” Gastown district (not my favorite place). Overall it was a magical day. The funny thing is, we weren’t able to conjure up a good reason to visit Vancouver since then. It was only after a good friend suggested we take our wives out-of-town for a shopping trip that Vancouver seemed like a good idea………So, here are some of my observations about Vancouver: NOT A “CHARMING TOWN” Vancouver lies in a beautiful, natural setting: water, mountains, forests…but don’t forget, it’s a big city with over 600,000 residents and its downtown is a noisy and ...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Pictured above is Vancouver, British Columbia. Beautiful isn't it? Most travelers to the Northwest know Seattle, WA and Portland, OR. In the not-so-distant future Vancouver, BC is going to be on the World's radar in a big way. Host of the 2010 Winter Olympics, Vancouver is quintessentially "northwest" and yet, it is cosmopolitian, international and bursting with boutiques, restaurants and parks. The Amtrak train station in Edmonds, WA. My wife and I are spending this weekend in Vancouver with friends to do a little shopping and get away for some R&R (translate: the ladies are shopping). We took Amtrak from Edmonds, WA to Vancouver. The train trip takes a couple of hours and passes through some beautiful country. Along the way, the train travels right along Puget Sound, so there are som...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Many economic reports have suggested that the Northwest is not suffering the severe downturn experienced in many other parts of the country. Indeed, until recently Boeing, Microsoft, PACCAR Trucks and a number of other strong performers had been sheltering our area. The job market was still stable and the big players seemed to be doing well. The announcement on Monday of the shocking layoff of 3400 high level Washington Mutual employees and the virtual standstill in real estate sales are only two of the many signs that the easy times are over. Also, the "experts" finally acknowledged that we have been in a recession for almost a year now (aren't the experts always the last to know!). Real estate agents and brokerages are not doing well. No matter how optimistic one wants to be, things ...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
I received an email from a good friend who just got back from a vacation in Italy. Quote: "We reluctantly returned today........."He and his wife visited Lucca which happens to be the main town in the province where my relatives live (on my father's side). My wife and I visited there this August so hearing about Italy made my heart race. If you're familiar with the weather here in the Seattle area, you know that the sky is usually gray from October through June (there is an occasional sun-break or two) so the thought of being back in Italy makes me crazy......so much so, that I went back through some pictures of Italy. I hope you enjoy this short, little vacation: This is a 300-year-old mill (situated over a river) that is currently a guest house five minutes away from the home of my co...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
  One of the most interesting programs on Radio today is Weekend America (American Public Media & National Public Radio). The program’s topic today is about the “meaning of home” and it’s and incredibly interesting and timely program. Coincidentally, yesterday I wrote a brief post about how the current financial challenges in America may change our perspectives about the true value of our homes. Are they merely an “investment” or are they more than that? Seems like a simple question but, as you’ll find, the concept of home is amazingly complex. Just click on the picture below and you will be linked to this program:   A couple of my favorite sections of the program are highlighted below. The first is “Your Stories of Home” which includes short essays by many different people around the U...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
According to Steve Kerch, the award winning real estate journalist of Market Watch, the current drop in home values should remind us that house aren’t really “investments.” In his article, entitled Core Values, Mr. Kerch asks us to consider the following: “At its core, a house is a shelter. Unless the roof caves in, there is always some economic value in that. But most people when they dream about a house or start looking for a house or actually buy one think about value in a whole different way: they think about the fireplace they can gather around with their families, the kitchen where they can show off their culinary skills, the bathroom that they won’t have to share, the schools they will be able to send their kids to, the neighbors they will be able to entertain in the backyard, t...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Two years ago, my wife and I were visiting my family in Italy during Thanksgiving. We had never been out of the U.S. during Thanksgiving, so we didn’t know what to expect. It is known as giorno del ringraziamento (day of thanks) in Italy. Not surprisingly, most Italians know little about our celebration except that turkey is involved. My family did try to accommodate us and my cousin, Caterina made rotello di tacchino, which is a filet of turkey rolled up around cheese and prosciutto pan fried and served in a light sauce. It was heavenly. BUT it wasn’t Thanksgiving…… The interesting thing is, Americans carry Thanksgiving in our collective DNA. It’s an idea that many cultures find odd. For many people around the world, every day is a constant struggle, so taking time off to be “thankful...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
Even though this is a reprise of my post regarding the market in Puget Sound, I thought some readers might have some other insights based on their local markets. The Real Estate section of yesterday's Seattle Times tackles one of the most fundamental and important topics in the real estate industry today: what value does a real estate agent bring to the purchase or selling of a home. The article entitled "Slow housing market means more hours, more expenses for agents," focuses-in on the increased effort and cost agents incur in today's tough marketplace in order to be successful. What I find most revealing about this particular article is the following confession: "The days of just taking the listing and putting it into the [Multiple Listing Service] and letting the MLS sell the propert...
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By James Lupori, Associate Broker - Keller Williams Realty - 206.713.2102
(Keller Williams Greater Seattle)
The National Intelligence Council recently submitted it's "Global Trends 2025″ report to U.S. leaders in order to give them insight into looming problems and opportunities throughout the world. The report is compiled every four years and includes a huge number of stunning and, sometimes disturbing, global trends. Although the report is not intended to be a "crystal ball" analysis, it's assessments are provocative: It projects a "multipolar" global landscape, where the United States is merely "one of a number of actors on the world stage" and where the U.S. dollar will only be "first among equals" in a basket of international currencies. Other trends include: A decline in Western Democratic Capitalism/A rise in State Directed Capitalism as in China Growing youth populations in the 3rd w...
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