Category: Business

Housing market concerns for greater Seattle 

Carl Setzer

I’ve read several articles the past few days that give me pause. The rise of housing prices is the center. And the fact they’re outpacing wage growth deeply concerns me. 

There’s a significant population who’s losing their ability to afford basic subsistence in this region I love. Many friends of mine, who’ve lived here their whole lives, and some for generations, who are getting priced out. 

I know the many see very few basic entitlements: life, liberty, and perpetual servitude. 

In seriousness, I wonder what we can do. Market forces are hard to resist. We’ve tried things like rent control and minimum wage increases, to varying degrees of success. Our ability to game the system are limited. We tend to end up with unintended consequences countering our efforts. 

I firmly believe there are solutions out there which will provide stability for the less highly compensated, without spiking home price inflation somewhere else. 

I work to not be a cynical free market catalyst. Tis often a challenge. I shall grab a hold of hope and embrace optimism. 

Now it’s Safeway, or Everything Changes 

Carl Setzer2 Comments

A few weeks ago, one of my local grocery stores rebranded.  After Safeway and Albertsons merged a few years back, the writing was on the proverbial wall. The Safeway branded store across the street was shuttered. A few months back, I noticed the start of a remodel. While talking with friends there, I was told the store would become a Safeway soon. That’s now done. 

A few days ago I noticed I felt somewhat sad looking at the sign. Well, the store has been an Albertsons as long as I can remember. Went there with my mom, watched the changes of the area, yet it was there. No longer, though. 

Lynnwood, this little suburb north of Seattle, hasn’t been as radically transforming as Seattle or the Eastside. Well, until recently. Stalwarts of my childhood have closed, buildings getting torn down, land redeveloped, vacant lots becoming neighborhoods. Housing prices sprinting upwards. 

Change. Pretty rapid change, too. 

Communities consist of these institutions, and their interactions with our citizens. The uniqueness of Lynnwood morphs, so what will become of the charms we value? I value?. 

Defining their value, though, is hard. I see the value to government, and our local business community. I’m a real estate agent and currently work in construction. I get that. Yet I worry that the influx of national chains and steep housing price inflation erode that which makes this community unique. Lynnwood has always been about commerce. But it’s also had a place for very one-of-a-kind businesses. Those are the ones vanishing. 

So many long-time residents I know feel concerned. Those things that build attachment vanish. What holds us here? At what place do we surrender to inflation and move to someplace more affordable? I guess that’s the question at the end of all this. 

I don’t know, my friends. Just don’t know. 

Addicted To Debt?

Carl Setzer

Came across this article recently:

Americans Feast on Debt

Of particular concern:

  • Debt is reaching new highs: “total household debt achieved a new peak in the first quarter of 2017, rising by $149 billion to $12.73 trillion-$50 billion above the previous peak reached in the third quarter of 2008”

Now, I’ve also read some pieces about the effectiveness of various policies in convincing people to incur more debt. I am left to wonder, as I was back about a decade ago, at what point does all this collapse? There comes a point where servicing debt load consumes all available income. Or, in the case of a sudden economic shift, drops below and things fail.

America currently only is able to see as far as the next quarterly earnings report, if that far. Our lack of vision and inability to see citizens as people instead of just consumers to exploit, helps drive this phenomena further.

At some point, we need to step away from a consumer-driven economy. It is not sustainable, and is only going to cause long-term pain and, for many, calamity. We’ll need to learn, as people, as individuals, to value things other than purchases. Don’t use shopping to alleviate boredom, or loneliness, or…. We need to balance spending with saving, find value in something other than things, than accumulated stuff.

Let’s not wait for policies to incentivize savings. Nor for marketing campaigns. Here’s the time to innovate, for ourselves and for our families. Perhaps, by making long-term thinking cool, we can truly change the world.

Another Reorganization At Microsoft

Carl Setzer

As a former Microsoftie with many friends still there in Redmond, I follow these news stories with intent.

We’ve had a few stories hit the wire the past couple of days:

Some thoughts:

  • I can’t imagine that dramatic of a re-org will happen without layoffs.
  • With that, it’s hard to see through the fog in the crystal ball on this one, at least as far as layoffs go. I’ve seen Microsoft layoff plenty of people, who then get hired on in other business groups over time. How many of those folks will actually collect unemployment (if any) is hard to gauge.
  • It’s nice to see what was called “services” when I worked there getting serious attention.

So, I hope that the drama of this announcement creates little-to-no stress for you, dear reader.

Opportunities and All That

Carl Setzer

I’ve had two conversations today that have me thinking about the area’s economic opportunities.

  1. Seeing the potential from storage rental facilities, with RV spaces in particular. I know a builder who had nearly 100% occupancy shortly after pre-sales started. Complete hearsay, but I still trust it. Well, enough to be willing to do further research.
  2. Storefronts in the City of Everett. Now, after some brief research, looks like commercial real estate vacancies are down. Yet, while walking along Colby a week or so ago, there’s quite a bit of storefront space vacant. I think Everett has a lot of potential, and that it will materialize at some point. I’d like to see a more vigorous effort to promote the downtown of the city. Especially as an alternative to Seattle. But, that’s just my notion.

Anyway, there are other potentials out there. What are you seeing?

Lynnwood Albertsons, Safeway and Change 

Carl Setzer

Swung by the Lynnwood Albertsons this evening. Needed some staples. Well, the store renovation is solidly underway. Tiles are ripped up and shelves are getting shuffled around. The layout is different enough to make getting around the store challenging. No work yet on anything structural, so I expect more changes. I’m looking forward to the store being brought into more contemporary styling. 

Now, I’ve been told it will be rebranded as a Safeway. And I actually don’t care that much. Not sure the decision process on that, but I wasn’t part if it. There’ll be an updated store very close to home. That’s what matters to me, in the end. 

I must admit that there not being an Albertsons in this door does tickle something. There’s always been one here. ALWAYS! I have no memory of anything else. That will probably hit me at some point. 

But not now. 

Some changes in Everett

Carl Setzer

A few months ago (well, maybe a bit longer) Everett’s Trinity Lutheran College folded up shop. We have a new tenant moving into their old space: Funko, formerly of Lynnwood. 

 Looks like they’re taking the whole building, which, if true, will be great both for Funko and Everett.  That’ll be a boon for the local businesses, restaurants and such. 

I’m excited to see this change, though Lynnwood will certainly miss a great company that’s up and coming. Such is the way of things, I guess. 

Ah, the world’s gone completely mad

Carl Setzer

​Reading about United’s PR debacle, and their CEO’s ratcheting up the tone deaf response, gets wearying after a bit.The tweet storm right now is simply horrendous. I’m glad I’m not with any element of their OR right now. Truly a Maalox moment. 

But that’s all in Twitter. It’s just ugly right now. No one knows how to argue with dignity and grace. 

Blindness to basic compassion and common decency. Rage filled vitriol, invective and brutality…The internet is loaded with the worst humanity has to offer. 

I’m not sure of the way forward right now. United, I’m sure, is hoping this news cycle will be short, and memories shorter. Air travel as a whole has become an enterprise featuring dominatrix/management. Whip me, beat me, make me sit coach cross country. The

I wonder if we can move our society towards decency, respect and compassion. Note: I’m not saying “again”. I’m under no delusion that we ever were. Seems we have been better once upon a time. The

But maybe, maybe we can move towards a place where we value each other more than for a cheap shot, the few dollars we can eek out of them, if we can get any at all. 

I hold out hope…most of the time. 

If you’re email marketing, don’t ever do this

Carl Setzer

With 7 years working in Real Estate, I’m on tons of email lists. I don’t mind this much, as I get to see what’s going on out in the market. Today, though, got one that violates all my marketing skills, understanding and wisdom.

  1. It was a jpg dropped into an email. I’m not a fan (mea culpa: I’ve done that in the past, mainly out of time, or, sadly, that’s all I had to work with).
  2. In the jpg were several urls. Note: I don’t say “links”. The links were NOT CLICKABLE! Simply text in the jpg.
  3. As I was interested in the property in question, I manually typed the links into a browser. Nope! No worky. Not even the bit.ly one. Not a single link worked.
  4. I saw the project name in the email addresses in the “contact us” section. That was the right URL.
  5. The creme de la creme, the piece de resistance (insert cliche of your choice here): there was no address. No city. Not even a state, region…nothing. When I finally made a url work, I could see that it was on the Washington Coast. Please note: this was for a new real estate development. “Location, Location, Location”?

It seemed like the creator of this campaign worked really hard to ensure I not only didn’t connect, but actually ended up annoyed with them. Amazing how well it violated every tenet I have for effective email communication.

So, do:

  1. Location. Events: have a date, location (address, venue…at least a city), and times. Drives me nuts to get an email for a property that looks interesting, or an event that looks really cool and, well, sorry, it’s it Atlanta. And it’s not until I’m in the registration section that I find that out? Geez!
  2. If you can at all help it, don’t just email jpgs. FYI, spam filters hate them.
  3. Links. Oh. My. Gawd! Making me TYPE your link…from an email?
  4. Links, part ii: Links MUST WORK. Test them! Most people won’t do anywhere near what I did. I was curious at that point and choose to dig. They may have got a click, but they didn’t get a sale.
  5. Segment your market and sell accordingly. I’m not working the Washington Coast market. It’s hours of driving away!
  6. Your main call to action cannot fail. If clicking on the link takes you to a Google page saying “sorry, sparky, no frickin idea what website you’re trying to find”, every erg of energy expended was wasted. Your goal is sales, right? Customers gotta get to your page. Gotta!

Keep your eyes on the prize, folks. Sales pitches to the right people, in the right way, is a splendid thing. Spam? Yeah, no.

Go forth and do great things!

My curiosities, buildings, real estate and Everett

Carl Setzer

I noticed a classic older building in downtown Everett the other day. The building doesn’t look bad at all, but it’s completely vacant; not even the storefront spaces are occupied.

These are things that capture my attention.

I’m pulling a blog post together about this particular property, as it’s pretty interesting. Well, to me, at least.

Buildings and the politics around them fascinate me.

With this, Everett has begun to  intrigue me. There are some very lovely structures and neighborhoods, with some significant regional history. With these sorts of buildings, a thriving arts scene and solid proximity to Seattle, we have some amazing potential up here.

Around 35 miles north of Seattle, with access to the Sounder Trains and buses, along with Snohomish County’s CT bus fleet, centering from the Everett Station, accessing Seattle is pretty easy and convenient. The Eastside is a little less easy, but not too much so. Microsoft’s Connector buses make their way up here (Snohomish and Mill Creek…maybe with enough lobbying, the Everett station can get a stop, too), and there’s Sounder and CT buses that head to Microsoft’s Commons and the Overlake Station, and downtown Bellevue. Within a few years, and the lightrail system gets fully launched, Everett’s interconnection with the greater Seattle economy will be solidified.

Everett does have a lot to offer, and the way the region’s developing, it will be far more interconnected and accessible to the rest of the region soon.

There’s a lot of opportunity for the forward thinking folks.