Please don’t send us homes that have…

By
Real Estate Broker/Owner with Respect Realty LLC 200311024

Until recently, when someone requested a home, it was always 3 bedrooms / 2 baths...Oh, you know the rest. But, recently I've been noticing more and more of clients calling and asking me to exclude certain homes from their list, as they won't even consider looking at them.

What is this one item that is beginning to be a thorn in my side? OIL TANKS! With the price of oil getting so high, more and more people won't even consider looking at a home with oil heat, and it seems to be the only type of home in their price range.

I'm starting to wonder if more and more people are discounting the price of their homes because they have an oil tank instead of natural gas or electric heat. I'm guessing with summer coming this may be less of an issue, but at the same time as the price of a barrel of oil rises, they still may consider it when looking at homes.



Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739

Courtesy of bjearwicke

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Ambassador
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Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

Todd - This is interesting, as we don't have homes here with oil tanks at all.  We do have some rural areas with propane tanks, though many of those are buried and "invisible".

Jun 17, 2008 01:56 AM #1
Rainmaker
634,968
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

No oil tanks here, either.  (that I know of)  We have propane in the rural areas, though.  Funny the different things that we all deal with in different parts of the country.

Jun 17, 2008 01:57 AM #2
Rainer
132,386
Hope Goss
Ventura Property Shoppe - Ventura, CA
Ventura Real Estate

Hmmmm, don't think we have any homes with oil tanks in our area.  I guess that's a good thing, given the current climate.

Jun 17, 2008 02:09 AM #3
Rainer
53,248
Marlene Scheffer
Realty Station - Bremerton, WA
Realtor to Kitsap County, WA

We have plenty of oil tanks here, but especially within the city limits of Bremerton because that is where a lot of the older homes are.  However, I haven't heard of anyone rejecting a home because of the cost of oil.  Usually it's because they are afraid of leaking storage tanks, and don't want to get stuck with the expense of decontamination and all that mess. (something that rarely happens, but still a possibility)

Jun 17, 2008 02:21 AM #4
Rainmaker
815,332
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Todd,

It's all in the marketing approach...here's the deal...convert from oil to electric or gas...leave the tank in place...fill it with gas at $4.00 a gallon...laugh in glee when fuel rises to $8.00 a gallon!!!

THIS IS A JOKE...I REPEAT...THIS IS A JOKE!!! DON"T TAKE THIS SERIOUSLY!!!

Thanks,   Fran

 

Jun 17, 2008 02:31 AM #5
Rainer
72,280
Connie Rice
Keller Williams Greenville Central - Simpsonville, SC
Connie Rice & Partners - Greenville, SC Real Estat

Hi!

I am relatively new to this site and trying to help boost my ranking in our little town. Unfortunately others caught on before me and I am way behind. I see you are quite successful and wanted to know if you can give me any advice to move me up the active rain ladder a little faster. Your time is greatly appreciated!

Many Thanks,

Josephine Olson

Connie Rice & Partners

Keller Williams Realty

Jun 17, 2008 05:09 AM #6
Rainmaker
547,726
Jeremy Blanton
Myrtle Beach Homes Blog - Myrtle Beach, SC
Myrtle Beach REALTOR®- myrtlebeachhomesblog.com

Todd- We are a lot like Jason in our area....no gas tanks here...All our heating & cooling is done with electric.  Very cost effective in our sub-tropic climate.

Jun 17, 2008 05:18 AM #7
Rainmaker
73,036
Larry Morris
HomeServices Lending - Newberg, OR
Larry Morris, NMLS 150073

Todd, are they rejecting them due to price of heating oil or the potential liability due to leaks and liability?

Jun 17, 2008 06:19 AM #8
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Todd:  Interesting observation.  I actually had someone ask me about homes with oil tanks the other day, wondering if any would ever come up in his search.  I told him not likely.  He was relieved.

Jun 17, 2008 02:18 PM #9
Rainer
17,011
Ginger Walker
Keller Williams Realty - Stafford, VA
Realtor e-PRO,CSP

You know something I had not thought about this as a factor yet, but it sure is food for thought as I even live in a subdivision where we are all on wells and oil tanks and I know that many subdivisions in this area are as well...Hummm

Jun 18, 2008 05:51 AM #10
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