I Know That's Not What You Wanted To Hear

 

 

I feel like so much of my time these days is giving bad news to good people! It's tough! Buyers and sellers are getting bad news from me. But honest news.

Short Sale Sellers are hearing:

• The home value is so low that they have to do a short sale
• The Short Sale "might" result in an income tax bill
• There is a sale date scheduled
• The buyer walked

Equity Sellers are hearing:

• The real value of their home, not what they wish it were
• The home down the street is listed 30% less because it is a short sale
• We have an offer, a lowball offer

Short Sale Buyers are hearing:

• It's going to take a few MONTHS to hear back from the bank
• The listing agent just got a higher offer and has sent that ALSO to the bank
• The short sale approval doesn't include temite, or past HOA dues, or Hazard Reports, or title fee, or escrow costs, or, or, or
• The approval is 20% higher than our offer
• The approval is for 15 days and if we don't close there is a per diem charge

Buyers of standard sale properties are hearing:

• Just because the home down the street is listed 30% lower than this one, it's most likely not going to sell for that price....it's a short sale/bank owned.
• The sellers chose not to counter your offer because it was too low
• The sellers countered your offer to include "as-is" language
• The sellers will not pay for termite work

Just some of the many bits of bad news I have to discuss every day. It's not fun....for any of us. And each time I have to deliver this type of information, I worry. People don't like to spend time with "downers" and I feel like one.

But it's the truth....the unvarnished truth.

The current real estate market is complicated. I requires care and attention to navigate the various aspect of writing offers and getting them accepted...and of course closed. My clients are responsible adults who do not need to be babied, certainly cared for, but not lied to. We need to deal with reality as it is.....lies, distortions and omissions do not help anyone. On my part they violate the fiduciary duty I have for my clients. My job is to give the facts to the best of my knowledge and then allow my clients to make decisions......even if that means they want to work with someone who tells them what they want to hear.

I'm never going to tell a buyer or seller what they want to hear.....I'm going to tell them the truth.

 

 

 Karen Fiddler
Broker/Associate
The Fiddler Realty Team/eVantage Real Estate
Lic # 01494165

www.SearchForOrangeCountyHomes.com

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Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors

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The Top 10 Things to do to Prepare for an Appraisal

How To Prepare for a Home Appraisal

You’ve just signed all of the paperwork for your refinance, handed the loan officer the check for the appraisal, and now you’re wondering what is going to happen next. Good news-the appraisal inspection is painless, and usually takes anywhere from 30-60 minutes to complete. However, there are a few things that you should do to help the process move along as smooth as possible.

Preparing for the appraisal inspection:

• Create a detailed list of the recent improvements, which should include the following: when completed, cost of the improvement, before and after pictures if available.
• Make sure each room is accessible; the appraiser is required to inspect each room.
• If there is a crawl space, this area will also have to be made accessible for inspection for an FHA appraisal.
• Give the appraiser room to do their job. Errors are more likely to occur when the appraiser isn’t able to concentrate on their inspection.

• Keep all pets restrained. I’ve been bitten twice by a dog, and once by a cat; the owners had assured me that their pets were friendly-not so much!
• If you live within a development that has a homeowners association, have the name and phone number of the contact person available, along with a fee statement.
• If the appraisal is for an FHA loan, then the area leading to the attic will have to be cleared and made accessible-the appraiser is required to make at least a head and shoulders inspection of the attic area.
• Walk through each room and straighten up as if you were getting ready for company to visit. Appraisers are objective and can look past many things, however, the underwriter reviewing the appraisal photos may feel differently.
• Complete any unfinished projects-most appraisals are done “as is”, and any projects that haven’t been completed, will have to be adjusted for within the appraisal report.
• A copy of any agreements regarding easements (shared driveways and/or garages,etc.) should be made available.

Concerns about value:

For years I’ve been a big proponent of developing a relationship with a Realtor. I’m not talking about a real estate agent who happens to be a relative that lives half way across the state. I’m talking about one that does a lot of work within your neighborhood.

By building a relationship with a professional Realtor (this is all they do and they do it well), they’ll be able to give you great insight as to what’s happening within your neighborhood, and they would be glad to let you know what similar homes are selling for.

 

Once the appraisal is complete:

You have a right to a copy of your appraisal, so ask for it. If you should find any errors or have any concerns, talk with your loan originator. This is hard for borrowers to understand, being that they paid for the appraisal, but the mortgage company is the appraiser’s client, and they can’t discuss the appraisal with anyone else unless given permission.

Trying to understand an appraisal can be like trying to read the “Dead Sea Scrolls,” so ask questions and get clarification when needed-you paid for it!

If you have any questions, or Minnesota real estate appraisal needs (divorce, bankruptcy, tax appeal, or estate planning) please contact Michael at 612.599-2581, or use the form on the contact page.

THANKLESS for my TANKLESS

When my water heater sprung a leak, after faithfully servicing my home for 19 years, I was compelled to go tankless. I had let myself get caught up in the "reduce your carbon footprint" mantra and was temporarily blinded from common sense.

Since the day I had my tankless installed I have regretted my decision. I have, more than once, wanted to tear my tankless off the wall and take a sledge hammer to it in the middle of the street. The problem? About 6 minutes into a shower, the water would turn cold. Tankless water heaters are supposed to produce an endless supply of hot water!

Finding a fix for my situation wasn't easy. I went through 4 different plumbers and had several parts removed and/or replaced. I've spent over $4,000 more than I would have if I had just replaced my old water heater with a like-kind.

Finally, after many months of agony, the manufacturer figured out the problem. My low-flow shower heads weren't allowing enough water through (gallons per minute), making the tankless think there wasn't enough of a demand for hot water.

I can now have a nice, hot, water wasting, full pressure shower, now that my shower heads have been modified. All is well until the California water police show up on my front doorstep. I can't wait to see my next water bill.

This was one of those decisions where I wish I could turn back time. I'm sorry to say that knowing what I know now, I would never have installed a tankless water heater.

If you decide to go tankless, make sure the plumber tests the water pressure in your shower heads and faucets. Make sure you don't need a dedicated gas line. Make sure your existing gas line can deliver the proper amount of fuel. Make sure your plumber knows what he is doing. Ask for references and follow up on them. I wish I had.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Copyright © 2010 - 2011 All Rights Reserved

Cynthia Larsen
Broker/Owner - Safe Haven Realty
Sonoma County, California, USA
(707) 332-2560

 cynthia@safehavenrealty.com

 www.safehavenrealty.com

How to Hire the Best Agents...

Woodley Gardens Coop - 1 BR Fee Comparison

Fall Season of Miracles - Parker

DEAL OF THE WEEK - 10/25/11

Falling in love with fall

I love fall, the colors are amazing and as a armature photographer it gives me great opportunities to get some beautiful shots. But, kids, oh, the kids love fall for a completely different reason! As you can see even a leaf pile can be a place to play when you are a kid.

Now, if you have kids, there is a safety tip for them though. Make sure any pile they play in is located in your yard and not in the streets. If they play in piles in the street it is to easy for them to get hit by cars that may not see them in the piles.

Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739

 

 I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.

 

What if there was a way you could search the MLS for FREE just like Realtors

Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!

Click here to start your FREE home search now

 

TODAY's Buyer's Market: Are you HOLDING all the cards?

Toxic Mold? Chemical Burn? Don't Let This Be YOU!

This is a post I have been wanting to write for weeks but couldn't find the courage because until today I didn't know what was going to happen to me.  Reading Jay Markanich's post A Very Sad and Dangerous Inspection made me realize I shouldn't wait any longer to write it.  Co-incidentally between last night and today I have had a break through so it makes it easier for me to write. 

Several weeks ago I was out showing houses with a new buyer and having a great time like I usually do.  I love my job, I love new clients and I love helping them find their dream homes.  We had been to 4-5 houses when we pulled up to the next.  Just another house on another street in another neighborhood.  I was feeling great that day.  In fact it was funny because it was the best I had felt in weeks so it made the day even better. 

I unlocked the door of this next house we were previewing which was vacant.  Now as a reminder this was the week after Hurricane Irene so alot of the roads were still closed, still alot of flooding etc... When I opened the door we could smell something bad but in this business that is NEVER unusual so in we went.  It smelled wet inside but we couldn't see any standing water and I didn't visually see any mold. 

Within 30-40 seconds after going inside I started to gasp for air and started choking and coughing.  I immediately ran outside figuring as soon as I got fresh air I would be fine.  After all, you go in houses all the time, sometimes they smell but I have never had any type of problem.  The buyers were coughing too but seemed to be fine once they were out for a few seconds.  I locked up the house but continued to cough and choke.  So much so I couldn't speak.  It felt like a person had sat on my chest and they still hadn't gotten off. 

We looked at one more house as it was close by and then I had to call it a day.  I still had not stopped coughing and could not get enough air.  Here is where I made my mistake.  I should have gone straight to the hospital or called a Dr.   But it was a Saturday, I hate hospitals, I hate Drs. like most people and figured if I went home and laid down I would be fine. 

I did call the listing agent though.  I WANTED THIS HOUSE OFF THE MARKET.  If someone like me who has never had a breathing issue in their life had a problem, what would happen to someone with allergies or asthma?  With a breathing attack after looking at that house would they make it to the hospital?  I didn't think the chance was worth the risk. 

The next morning I still felt like someone was sitting on my chest.  I could not take a breath without coughing or choking.  But now it is Sunday - getting a call back is near impossible and you can spend hours in the emergency room.  Again I should have gone to the hospital.

First thing Monday I called the Dr. and went right in.  I told him what happened and I was given a steroidal inhaler to use for a day or two and "I would be fine."  Almost immediately I started getting much worse.  I lost my ability to talk because I didn't have the breath for it.  He called in a regimen of sterioids for me to start immediately and I had a chest xray which was normal.  (I figured it would be) 

After taking the steriods for 4 days I was worse so I went to see another Dr.  He didn't take me seriously and because of all the coughing from the shortness of breath told me I had a cold.  I tried to explain that I only coughed if I tried to talk.  He told me to drink tea with honey and see an allergist. 

In the process of making an appointment with another Dr. I wound up in the hospital because it got to the point where I just couldn't breathe at all.  They injected me, gave me breathing treatments, changed my meds, added more and I went home with a nebulizer so I could do breathing treatments at home.

At this point I thought good! I will finally start to get better and can move on.  I got worse.  Each day that I thought my breathing couldn't possibly get any worse it did.  I hadn't really spoken a normal sentence since that Saturday.   I began to realize that no matter what was being done I wasn't getting better.  When you start to realize something like that you see things in a whole new way.  I started to think - what do I do first?  I can't talk so anything I do I will have to write down.  How do you write in a letter what you feel when you are sick and you aren't getting better and how can I write so many?

I have a whole new appreciation for people with asthma and shortness of breath.  Things you would never even think of.  How you don't even want to be hugged too tightly because you can't catch your breath.  How you never want to be without your inhaler because it is your lifeline.  How looking at stairs can be intimidating and frightening if you are trying to get away from someone.  That is just scratching the tip of the iceberg.

Finally not to keep dragging this out.  I saw another in a long line of Drs. on Tuesday.  This lung specialist I think finally took me seriously enough and really knows his stuff.   He said that I definitely got exposed to something.  He is leaning towards toxic mold (or possible a toxic chemical) and again changed my meds extremely aggressively.  I am still on the machine, taking the meds and have an inhaler but for the first time last night I could actually take a small breath and a few more today.  This is the first change in over 3 weeks with none at all with all the other medicines so I am sooo grateful for his help. 

The point of this story?  When you see a house like Jay talked about or something does not smell right - GET OUT.  If you are affected somehow don't wait to get help.  No matter how trivial it may seem (like it did to me) you can never be too careful.  It looks like I may have dodged a bullet finally (thank you GOD) but would it have been better if I had gone to the hospital that day??  I will never know. 

Oh btw that house?  STILL ON THE MARKET.

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Debra Walsh, GRI, ABR, CHMS, REM | Office (845) 928-8000 | email me
website www.orangenyhouses.com | search for homes

If you are Buying, Selling or Relocating to the Hudson Valley area and need help from a professional REALTOR®, I would be happy to assist you! Please visit my Hudson Valley website for property searches and to sign up for free listing alerts and other information.