Theodore's Blog

More properties 'fall' under the weight!!

Theodore Gilliam (Gilliam Appraisal Services) — Sat, 19 Apr 2008 13:39:48 -0500

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 -0500

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 -0500

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 -0500

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 -0500

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.