Theodore Gilliam's Blog

An ounce of prevention...

Theodore Gilliam (Gilliam Appraisal Services) — Thu, 31 Jul 2008 14:16:16 -0700

It's really quite sad, and unfortunately, it happens all too often. Here in Maine, the winters can get extremely cold and harsh. As the price of oil increases, Mainahs are grasping for any solution to the yearly problem: What am I going to do to heat my home? For many locals, wood is the answer. As you'll see below, it can also be the problem....

This home was completely lost this past year because of an improperly installed wood stove. It was determined that the homeowner had simply drilled a hole in the exterior wall, and stuck the stove pipe out the wall. Most people would realize BEFORE this was done that it wasn't the most safe procedure, however, in Maine when you're cold, and your kids are shivering, the hole in the wall sounds like a good idea.

(Sidenote: There is actually a road in local Solon Maine called 'Hole in the Wall Road'. Google it, seriously.)

Please please please, as a fellow human being, if you know of someone that just needs a little help, do it. This family's loss could have been prevented by a $20 piece of insulated stove pipe.

Just thought I'd share.

That can't be good???!!!

Theodore Gilliam (Gilliam Appraisal Services) — Wed, 30 Jul 2008 13:46:09 -0700

Ok, so I've had a few people ask me about some of the sights that I've seen over the years. They generally ask about the worst this or the scariest that, and I'm happy to share. I'd like everyone to know that the names have been changed to protect the 'not-so' innocent. As an appraiser, I am confidential to my clients, and will not reveal location or client.

This was taken on the inside of a 200 + year old barn with a full foundation. It was later determined that the cause of the foundation failure was due to a lack of maintenance while the property was vacant!!

Just another fine example!!

Foreclosure Leaves A Stench In Maine

Theodore Gilliam (Gilliam Appraisal Services) — Tue, 29 Jul 2008 15:22:01 -0700

Ok, we've all seen the photos. People unfortunately can't make their payments, one missed payment leads to another, and the next step is foreclosure. It's not always the worst that can happen, but it does shake the foundation of a family.

The foreclosure itself is not the worst situation. Some times, the homeowners will become frustrated, and take the action of foreclosure very personally. "The bank is out to get us" or "I hate those bank people!" is heard often. Trust me when I say that the 'bank' does not want you home. They use your home as security toward the loan, and they only want the original agreement (the mortgage) to be honored. Foreclosure is very expensive for the lender, and generally when the opportunity allows it, the bank will try almost any other means to get their payments flowing again.

But this isn't good enough for a lot of folks. Revenge and hatred boil in their veins, as they prepare to loose their homes. That is when the 'crap' hits the fan, literally. (I'm not going to include the feces photos, I thought it was too much. Rest assured, I have them!!!)

Oh yeah, I can imagine the party!! Someone DID bring the pizza!!

Honey, where did we put that box of apples?!?!?

- Party in the background:

"I've got those nasty hot dogs dude, this is so gross, where is the trash???" - Party Dude

"Oh, um, whoa, just throw it down in the basement! It's the bank's problem tomorrow!!" - Irresponsible Homeowner

Do you think that the bank, once they find this, would be willing to work with the homeowner about the late payments?? Do you think that the condition of the home would have a negative impact on the home's marketability??? Hmmmm, maybe!?

DON'T LET THIS HAPPEN TO YOU!!!

GIVE US A CALL AND LET US KNOW HOW WE CAN HELP!

FROM PROPERTY MAINTENANCE AND CLEAN OUTS TO MARKET RESEARCH AND APPRAISALS

WWW.GILLIAMAPPRAISAL.COM

Down in one area, may mean up elsewhere!!

Theodore Gilliam (Gilliam Appraisal Services) — Tue, 29 Jul 2008 14:58:00 -0700

Though I'm located in rural Maine, a place where conservation is a hot topic, our market has NOT slowed to the point of this. The many cycles of the market can have positive and negative impacts in all aspects and sectors. Since Maine is a conservation-rich area, with its vast mountains, coastal regions, and woods, this coupled with a strong market has been more of a plateau then a cliff.

Nice to see how other regions of the country react to changing markets. If Maine was sinking like a rock, would the entire State be a park??

Article was found in the Morning Sentinel - Maine 07/29/2008

GIVE US A CALL AND LET US KNOW HOW WE CAN HELP!

FROM PROPERTY MAINTENANCE AND CLEAN OUTS TO MARKET RESEARCH AND APPRAISALS

WWW.GILLIAMAPPRAISAL.COM

More properties 'fall' under the weight!!

Theodore Gilliam (Gilliam Appraisal Services) — Sat, 19 Apr 2008 13:39:48 -0700

When will they learn???

A little maintenance goes a long way!! I'll be the first to admit that my reasons for posting this blog about properties is to make money. It's capitalism, and it's a beautiful thing. That being said, I'll also be the first to admit that the message I'm trying to get across is simple:

"Whether you use my services or not to ensure your property is safe, at least make sure someone does it!!"

I have excellent relationships with all types of Real Estate Professionals, from brokers and agents to title attorneys and they all agree with me. Millions of dollars have been lost this year alone by not keeping your properties up!! Just in my coverage area, I can find at least 50 single-family homes that have collapsed due to snow, had their pipes freeze and burst, or been burglurized due to a lack of recent maintenance.

This property was under going some renovation when the roof collapsed. Do you think this might slow them down!?!?

This was a barn that appeared to have a new metal roof. This roof had an agressive pitch, and looked to the owners like it would make it through a Maine winter. I guess not.

DON'T LET THIS HAPPEN TO YOU!!!

GIVE US A CALL AND LET US KNOW HOW WE CAN HELP!

FROM PROPERTY MAINTENANCE AND CLEAN OUTS TO MARKET RESEARCH AND APPRAISALS

WWW.GILLIAMAPPRAISAL.COM

Another fine example of neglect...

Theodore Gilliam (Gilliam Appraisal Services) — Mon, 31 Mar 2008 08:37:03 -0700

Alright, I've been sharing photos of properties that have succome to heavy snow. All of the properties thus far have already caved, but the only damage has been to the homeowner's property. Not the case this time, because if this FLAT ROOF collapses, shoppers could be crushed.

This is a local Strip Mall. There are shops all along this brick wall, and they all share the use of this covered walkway. The roof that you see is flat, and obviously has a large amount of snow and ice on it. This roof was NOT meant to carry this load, hence the CAUTION TAPE! It would be so much cheaper to hire someone to clear this roof, rather than pay the hospital bills for the family that was crushed under it.

Where are the 'savings' in this?

Theodore Gilliam (Gilliam Appraisal Services) — Sun, 30 Mar 2008 17:17:53 -0700

I've recently been explaining in my blog how Gilliam Appraisal Services has expanded to include vacant asset protection. Since most of Maine is now in 'damage assessment' mode from snow and ice loads, I thought I would share some photos. These are of properties that haven't been maintained.

This property had a new 2 car garage constructed just a few years ago. The owner probably thought since it was fairly new, and had a 12/12 pitch to the roof (12 inches of rise / 12 of run or span or 45 degree angle) that they were safe. Um... guess what? They weren't.

So, let's break down the numbers.

- Cost of Service to Maintain property with weekly inspections, decals on the windows and doors, reflectors for driveway, and roof shoveling [[ $50 ]]

- Cost of cleaning debris, dump fees, and reconstruction of garage roof [[ $3,500 ]]

The 'Costs' of Not Maintaining Properties

Theodore Gilliam (Gilliam Appraisal Services) — Sat, 29 Mar 2008 11:37:57 -0700

If you lived in Maine for more than one year, you already know about that 'stuff' that comes by every winter. Actually, if you've been here for long enough, you know that it often shows up in fall and lasts sometimes into the summer. Yeah, it's no mystery, it's called SNOW. It's cold, wet and extremely heavy.

All areas on the planet have their perils. Hurricanes, tornados, termites, desert heat, tsunamis and floods. They all have a sever impact on people and their structures. Maine properties and owners are lucky in most respects. Hurricanes and tornados are few and far between, termites can't survive in most of the State, desert heat is a joke, and tsunamis and floods are also few.

The only natural problem for homes and structures that we have to deal with is snow. Like I said, it's heavy, and it lasts quite a long time. If not taken care of, it will destroy property.

I've included a few examples of what has happened in my area of Central Maine. All of these collapses occured this winter.

This fine home was listed for sale when the garage collapsed. The garage is much larger than it appears, and was a 2-bay with a carport. Do you think this will affect the sale????

This was a bar/restaurant close by that was also for sale. The structure was constructed from large logs and appeared to be very well constructed. It should be proof positive that because the property looks to be ok doesn't mean it will survive. The roof even had a good pitch to it, but it was not maintained. Again, if you were to make an offer on this property, would you expect a discount???

More properties will collapse in the coming weeks. These properties will incur thousands of dollars in damage to the property, create an eye soar for the neighborhood, and make an already difficult market worse for the owners.

Vacant Property - What's the solution??

Theodore Gilliam (Gilliam Appraisal Services) — Fri, 28 Mar 2008 10:20:53 -0700

With the recent rash of Foreclosed properties throughout the country, lenders and owners are finding they may be held liable for neglect. It sounds odd that the act of simply leaving a property behind could be neglect, but it can be, and this action can not only have a negative impact on the property itself but the neighborhood as well.

Times can be tough, and people get scared. It's understandable, and though homeowners morally feel like abandoning the property isn't the right thing to do, it's a scary situation. Many homeowners simply don't know what to do, the banks are sending notices every day in the mail, and credit card companies are calling 15 times a day and your kids are starting to ‘love' Ramen Noodles. Situations like this are common, and some owners just ‘snap', pack up one night and leave.

They don't tell the bank, thinking that they are taking over the house in a day or two, so what's the difference? It's the idea of responsibility, and who is responsible...

Some say the lenders...

In the town of Murrieta California, they have started imposing fines to lenders that don't maintain their properties. These fines are big, when you consider the amount of homes that face foreclosure. Unless you're living under a rock, you understand the magnitude of this situation.

So what is the solution??? Some one needs to care for these properties.

Another town in California, Chula Vista, has passed a law making it mandatory for "lenders to hire a management company to take care of houses" that the borrower cannot.

This is where we come in. Gilliam Appraisal Services provides this service to lenders, bankruptcy attorneys, banks and private individuals. From lawn mowing and snow removal to compliance inspections and regular maintenance inspections, we ensure that the property is well cared for.

The savings are HUGE! From foreclosure to seasonal properties, Gilliam Appraisal Services can care for your property like you would...when you cannot.