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10 Things Buyers Shouldn’t Do

April 12, 2013 By Leave a Comment

Nummer Zehn

Never, ever do these ten items

As a home buyer, you face a lot of challenging decisions as you make your way through the process. Why throw a monkey wrench into the system when you can easily avoid some of the common mistakes that buyers make? Avoiding these ten items will help your home buying adventure run much more smoothly and help alleviate the stress that buyers and their agents face.

  1. Tempt yourself with properties out of your price range/budget: Before even taking the first step in house hunting, make sure that you have an idea of what you feel comfortable spending for your monthly payments. Talk to a reputable real estate agent or loan officer to get a feel for what that equates to in sales price. You may qualify for a larger amount, but if those higher payments stress you out each month, is it really worth it? Why even go look at a home that is completely out of your range?
  2. Expect to demolish a seller in negotiations: Yes, it feels fantastic to get a deal on a home, or walk away from closing with equity, but you should remember that not every seller can afford to take a beating or huge loss. If you pound a seller down on price up front, they may not be willing or able to work with you on repairs down the road. Plus, the market is changing and it’s becoming a seller’s market in many areas. By coming in super low, you may risk offending the sellers or losing out to a more realistic (higher offering) buyer.
  3. Justify price based on other listings: Size doesn’t always tell the full story. Honestly, as a seller you can list your price at whatever number you want – realistic or not. When you’re buying a house an appraiser will look only at similar properties that have sold. A closed sale means that two parties (and probably a bank) came together to determine a solid value. Keep this in mind both in deciding what to offer and when considering future.
  4. Lie: While lying is generally discouraged in all areas of life, there’s a reason it’s especially discouraged in real estate. Things get ugly and they get ugly fast. Lying on a mortgage loan application constitutes fraud and you can go to jail for it. Lying to your agent handicaps them when they try to give you sound advice. Lying to a seller breeds hostility and can tank a deal fast. It’s far better to be truthful, even if there is a problem. Most of the time the problems can be resolved (given a bit of time, skill, and luck), and being forthcoming and honest puts everyone in a better position to solve the issue quickly and effectively.
  5. Skip inspections: Mold, water damage, improper building codes, electrical wiring hazards – all things that may not be visible at first glance on a home. HVAC units, plumbing leaks, water heaters, foundation cracks, and roofs can be some of the most costly repairs. Isn’t it worth having those items thoroughly checked out up front so you can 1) have sellers correct problems; 2) know what you’re likely in for down the road; or 3) back out before you get in over your head? Even new homes aren’t immune from problems, code violations, and costly mistakes.
  6. Quit or change jobs: If you’re getting a mortgage, there are strict rules and guidelines for verifying that you have the income to be able to pay off the huge debt a bank would be taking on on your behalf. If that income source suddenly vanishes or changes in any way, lenders suddenly start to feel very bad about that risk. If a job change can’t be avoided, it’s good to know that you’ll need at least two paystubs from the new company and staying in the same field really helps. But, if at all possible, hold off on those employment changes until after the sale.
  7. Take on new debt: Yes, this means hold off on applying for or opening new credit cards no matter how sweet the discount. Don’t buy furniture. Don’t buy a new car – or even a used one. And really, don’t start charging those new décor items from Pier One on your credit cards either. Lenders will pull your credit scores at the time of loan application and again at closing. All of these things can impact and change your credit score, which could mean that you lose on a loan. And a house. And time. And money. Don’t risk it.
  8. Believe everything you read on the internet: Real estate laws and customs vary immensely from state to state, so you always have to consider the source when reading blogs or real estate articles. Even the verified experts may only be experts in a particular region which has nothing in common with the one in which you’re buying. Also, if something’s important to you (schools, crime, or neighborhood amenities) then take the extra time to verify it from other sources. And, believe it or not, even in the MLS, mistakes can happen.
  9. Stop yourself from asking questions: There’s a lot that goes into buying a home and at times it can be quite overwhelming. Staying silent can lead to confusion or conflict down the road. Even if you’ve already asked a question, ask it again and again until you feel comfortable with the answer. Take notes. Be involved in the process. This is a huge investment – be an active part of it.
  10. Go it alone: Real estate purchase contracts are legally binding documents full of small caveats and provisions that you may not even consider when thinking of buying a home. Even when buying a new home, it’s completely worth it to use the expertise of a quality REALTOR® to provide a wealth of information and negotiating skill. From comps to property condition pitfalls to resale considerations and negotiating skills, agents deal with these matters day in and day out. Go with a pro. It won’t cost you anything. (sellers predominantly pay REALTOR® commissions in Texas).

…and don’t miss “10 Things Sellers Shouldn’t Do” if you’re on that side of the coin.

image courtesy of mueritz

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10 Things Sellers Shouldn’t Do

April 11, 2013 By Leave a Comment

Number 10

Never, ever do these ten items.

Selling your home seems simple enough, but there are hidden dangers out there. Simple mistakes that could easily cost you a sale. Some are so simple that you’ll want to have a “I could have had a V8″ moment. Some are emotional gut checks. And some are just good practices to remember when going through the offer phase of negotiations. Stick with these ten things to not do when selling your home and the process will flow much more smoothly to the final days of closing.

  1. Stick around for the showings: It makes people uncomfortable. Buyers suddenly clam up if they feel they’re being watched by a stranger. They are less likely to really take time to go through and appreciate all that your house has to offer, and they may walk away with unresolved feelings about the home because they didn’t feel they could speak openly with their partner or agent with you around.
  2. Neglect the yard: First impressions are critical, and a good deal of that revolves around landscaping. Especially during times of drought, it is worth it to make sure those sprinklers are set correctly or to take the extra time to hand water. Buyers do notice if you have the greenest grass on the block. And they like it. Unruly bushes and trees suggest something unfinished or unattended to and makes them wonder about everything else.
  3. Take offers personally: Many buyers have been told that they can get a good deal on a home and a lowball offer may just be their way of testing the waters. They don’t know you personally. They aren’t trying to insult your property. They may just be trying to seem savvy in what they consider to be strictly a business transaction. Look at things from that perspective.
  4. Take repair requests personally: See above about the offers. And then also consider that some buyers may not have a handy bone in their body, so the thought of “arc fault protectors” may scare them half to death.
  5. Price yourself out of the market: We know your home is beautiful and you’ve put a lot of money and effort into it. But the truth is that the market is what it is and most of the time there’s nothing you can do about it. If your neighbors sold low because of a divorce or emergency job relocation, you may pay the price for that in your own sale. It’s not that anyone is against you making money, but more that there are some conditions you can’t control. If you’re priced too high, you could miss out on some valuable first days on market when the property is likely to gather the most attention. You may flat turn off some potential buyers and you may even have your house listed longer as it could stagnate. Really analyze the sales data and trust in the experts. It will pay off in the long run.
  6. Settle for good enough: Buyers are snatching up properties these days and the homes that are going quickly (often with multiple offers or above list sales prices) are those that have been well maintained and show impeccably. Take the extra time to plug in some air fresheners, to clean the windows, and dust the tops of those cabinets you don’t think anyone really sees most of the time. It’s the little details that can add up to make a big difference. Let your property shine and take the advice of your agents as to how to get your home to that next level of awesome.
  7. Pack up and move right away: Start making a plan, but unless you have to move, you’re better off waiting until a buyer makes it through the option period – and even the financing period – before getting those boxes out. Unpacking is never fun and neither is carrying the expense of multiple households should anything go wrong on the deal. Consider a leaseback as an option in the contract that could save you a lot of frustration in those final days before closing.
  8. Conceal facts: State law requires a seller’s disclosure and “forgetting” is not really an admissible excuse in court. Be as honest and forthcoming as possible about property conditions and save yourself a lot of headaches (and liability) down the road. Dig up those old receipts to show where a problem was resolved and keep good maintenance records to help with those memory glitches. If you’d want to know as a buyer, you should probably tell it as a seller.
  9. Turn down showings: If no one can see your house, no one will buy your house. Having your house listed for sale is a chore, but you have to participate to get your desired result. There are many times when it is really and truly not possible to show your house – family member’s illness, tornado in the living room, out of town company cramming their suitcases in every corner – and we get that, but try to be as accommodating as possible and you’ll likely get an offer as quickly as possible.
  10. Go it alone: Real estate purchase contracts are legally binding documents full of small caveats and provisions that you may not even consider when thinking of buying a home. Even when buying a new home, it’s completely worth it to use the expertise of a quality REALTOR® to provide a wealth of information and negotiating skill. From comps to property condition pitfalls to resale considerations and negotiating skills, agents deal with these matters day in and day out. Go with a pro.

image courtesy of yoppy

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Don’t Panic – Real Estate Lesson #1

March 12, 2013 By Leave a Comment

Don't Panic - 42

When I first read The Hitchhiker’s Guide to the Galaxy I became an instant fan. In fact, I became a bit obsessed by it, writing “Don’t Panic!” on my schoolbook covers and doodling the number “42″ over and over. Years later, this morning in fact, there I sat reminded of that simple mantra…”Don’t Panic!”

Today was one of those days where from the minute I sat down, it felt like I had been sucked into a giant tornado of real estate. Phone, email, web – all were going full steam ahead. People calling wanted answers that were only available to the people who were on the phone already talking to someone else. Messages, voicemails, texts, and emails – everything firing on all pistons. It felt like sheer madness. There were so many issues going on at once, it felt like my head might explode.

Then it hit me while talking to Dave Taylor, “Don’t Panic!” It’s the most simple lesson in life. Not only was I panicked, but so was everyone calling – agents, buyers, and sellers. Panic spreads fast and can the best of any of us at any time, but it doesn’t have to be that way. Just repeat after me…”Don’t Panic!”

There will alwyas be moments in a real estate transaction when someone gets frustrated or feels they’re not getting what they need – both buyer’s and seller’s agents, buyers, sellers, lenders, title companies…you name it. In those moments it’s easy for someone to throw up their hands and panic and potentially mess up a transaction, but here’s the one simple truth I’ve learned: there is almost always a solution to fix everything. Problem is, when everyone’s in panic mode, that solution usually does not present itself. By following the “Don’t Panic” method, you can alleviate the immediate stresses and focus on finding the solutions first.

And of course don’t forget, the answer to life, the universe, and everything is 42.

image courtesy of Patrick Hoesly

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High Winds and Your Roof

March 5, 2013 By Leave a Comment

Roof Damage

As I walked to my car today and was buffeted by the high winds, I thought, “hey, it’s a blog post.” On almost every inspection report I have seen in my career, I have seen the recommendation for the owners to trim the trees back away from the roof. The reason is simple – although they look innocent enough and aren’t touching the roof, when the high winds come blowing through, those branches start moving and become the equivalent of a giant wire brush running across your roof tiles.

Even if you’re not considering selling your home anytime soon, you should always keep those branches trimmed back in order to avoid costly roof repairs and potential damage from water when it rains. This simple piece of maintenance can save you a lot of money. In addition to the dangers of wind damage, branches close to your roof also provide the perfect entrance to your home for many wood destroying insects (carpenter ants in particular love this method of entry).

image courtesy of SidPix

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Choose Your New Home Upgrades Wisely

February 27, 2013 By Leave a Comment

Upgrades in New Home Construction

Upgrades, upgrades, upgrades.

If you’re building a new home in San Antonio, you’ll eventually get to the point where the builder sends you to their showroom and you will be dazzled, delighted, and amazed at all the choices for upgrades. Everything from carpet to tile, trees to shrubbery, architectural details to number of bedrooms, faucets to toilets – you name it, there’s an upgrade available for you to purchase. With all these choices available to you, how do you upgrade your new dream home without breaking the bank?

When purchasing a home that is yet to be constructed, you are faced with many choices. Each choice comes with a price tag. Although many builders in San Antonio will give incentives in order to encourage you to upgrade some of the items in your home, wise choices of what to upgrade can save you a lot of money and give you room to upgrade to some of the more premium choices.

Upgrade now or later?

Because builders have a pretty good mark up on their upgrades (it’s where a lot of the profit in new home construction is), most things you will add-on are going to cost you more than if you did them yourself or had a handyman or contractor do them for you. That faucet you love so much in the showroom? It might be a lot cheaper to stop by Lowe’s and pick it up and install it yourself. Think about the things you can do on your own. Are you handy enough to switch out a light fixture or faucet? Then you might want to consider saving those upgrades for later and doing them yourself.

Focus on the big ticket items as much as you can. Flooring, adding extra rooms, architectural details, adding a fireplace, adding outlets, adding a hose bib to the front or back of the home. Anything that might be covered up by drywall during the building process – outlets and cable hookups are always a good example. If you don’t want vinyl in the kitchen and bathrooms, upgrade to tile. Pay that extra for thicker padding under the carpet or softer “premium” carpets. Add wood flooring – these are all items that are costly and can inconvenience your family while being done at a later date.

Think of your plan for living there. Can you live with the cheap faucet in the kitchen for a few months until you decide to spend the money and go buy a new one that you install over a weekend? Try and think of your future resale too. Although you like the TV on that wall, would someone prefer it on the other wall – the one without the outlet? Even if you’re not putting in ceiling fans, maybe you should have the switches wired for them – just in case you do want them or the future buyer of your home wants them. These are the new home upgrades you should be purchasing now.

We all want to move in to our perfect dream home and not have to lift a finger and there are some who can afford to upgrade everything and not even blink an eye. Most people don’t have a limitless supply of cash though, so knowing what to upgrade in your new home can save you money and help you create sweat-equity in your home in the long run. By making smart choices today, you can avoid high mark-up costs and work on building your dream home – one faucet and light fixture at a time.

image courtesy of mel0808johnson

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When should I start the search for my new home?

February 22, 2013 By Leave a Comment

Search for a Home

Today, tomorrow, next month?

You know you want to buy a house. You think you’re ready, you have enough saved, you have your credit and debt in line, and you have calculated that now is the time for you to make the leap to home ownership. You’ve started looking around online and thinking about what you like and don’t like in homes. You think it’s time to get serious and contact a REALTOR® to get your home search started. Or is it? That’s the part you’re uncertain of – when exactly should I start searching for my new home? How far in advance should you stop perusing online real estate search sites and get down to business and start looking at them in person? When should you contact a REALTOR® and choose an agent? When do you contact a lender and figure out how much you’re pre-approved for and what you can comfortably afford?

Ready? Set? Go!

Typically, I wouldn’t recommend you begin your physical search for a new home until about three months before your projected move date. There are exceptions to this, but overall it’s a good rule of thumb. (Exceptions would include if you’re looking for foreclosures or short sales, as these sales can often take months from offer to closing.) Although many people like to begin their planning far in advance, the three month time period is when you’ll be actually looking at homes in person with your real estate agent, speaking with a lender and getting pre-approved, choosing a home to make an offer on and once accepted, working through the process of closing on your new home and finally; picking up the keys and moving in.

Why three months?

Most lenders’ pre-approvals are only good for three months. Many lenders will lock-in your interest rate during this time and some will even allow for a change in the rate if they go lower (typically, you’re only allowed to do this once during the lock-in period). With interest rates as low as they have been, they will more than likely rise at some point. With an interest rate increase you may not be able to afford as much home as you thought you could, throwing all that searching out the window.

Homes you look at today, might not be available tomorrow. If you’re looking at homes many months in advance, they are often no longer on the market when you’re ready to buy – whether they’ve sold, been taken off the market, or in some cases, foreclosed upon. There is nothing more disappointing than seeing a home, falling in love with it, waiting for a few months until you’re ready to make an offer, and finding out the home is no longer available.

The real estate market is constantly changing. There are many factors that influence the housing market and each one could put the home you love out of your reach. Even if prices fall, it could change a neighborhood drastically and change your mind about where you want to live. A good example? When prices decline and homeowners find themselves underwater with their mortgage, foreclosure rates have a tendency to increase. Imagine you found the perfect home in a neighborhood, but that neighborhood suddenly faced a rash of foreclosures. Would you still want to live in an empty neighborhood that looked more like a ghost town than the friendly community you fell in love with?

Every buyer has different needs.

While I think the three month guideline works for most home buyers, there are times when a lengthy search period makes sense. Sometimes, it makes sense to find a home in an even shorter period of time. Every home buyer is different and their needs vary. The best bet? Contact us and let’s discuss your goals. We’ll take a look at where you want to be and when you want to be there. If it’s a year from now, we probably won’t hop in the car and start looking at homes, but we can begin planning and preparing for the future. Much like buying a home is more than simply saying “I want it,” being a real estate agent is much more than just opening doors and filling out forms. Together, we can build a plan to satisfy your home buying needs and work to make your dream become a reality with a solid plan that prepares you, educates you about the process, and guides you through every step of the way.

image courtesy of dreamsjung

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10 Ways to be a Great Home Buyer

February 18, 2013 By Leave a Comment

Number 10

Home buying starts with you.

Being a home buyer requires quite a lot, particularly if you’re a first time home buyer. Money, patience, phone calls, showings…the list is rather long. The job of a REALTOR® is to keep it all flowing smoothly and help our clients through the home buying process, but there are some things that we’ve learned by watching our clients – things you can do to make yourself a great home buyer. Although some of them may seem a little basic, they’re often forgotten and in the whirl of excitement that is home buying they can be completely overlooked. There are times when it’s best to step back and think about the small things. So here they are: 10 Ways to be a Great Home Buyer.

  1. Know how to laugh, it relieves stress. – You’d be surprised what a little brevity can do in a stressful situation.

  2. Be interested in the process. Learn. – Chances are you’ll buy more than one house in your lifetime. The more you learn in the process the better. There’s a lot going on, so don’t feel overwhelmed, but take the time to understand the process and you’ll enjoy it much more.

  3. Take notes, keep them in a folder. – After you’ve visited a few homes they have a tendency to blur together. The more organized you are about your home search, the easier it is to make a decision when you’re ready.

  4. When a underwriter asks for something, have it ready (being a mind reader helps). – During the loan process, the underwriter inevitably will ask for paperwork…don’t ask why, just get it to them. Make their job easy and your loan process will run smoothly. Frustrate them and things can get very slow.

  5. Ask questions. Ask more. – Unless your favorite question is “Why on earth did I hire you?,” most REALTORS® love to answer questions. It’s in our nature to want to help buyers understand the home buying process. If your agent is annoyed by questions, you should hire a new one. Same goes for lenders.

  6. Save everything after you buy your house – surveys, floor plans, inspection reports, etc. – You never know when you’re going to need them.

  7. Be patient. – There are quiet times in the process where it seems as if nothing is happening. Take a deep breath. Those quiet times often means everything is going smoothly.

  8. Don’t let an offer consume you. – This is easier than it sounds. If a seller turns down your offer or someone else gets the house, it can feel devastating. We’ll find a better one, it’s a strange law of nature, but it happens every time.

  9. Talk to your REALTOR®. Let them know how you’re feeling. – Your agent should be asking questions and learning about you, but there are times when our mind-reading skills are just not up to par. Tell us what’s going on, the more we know, the better we can help you.

  10. Dream big, spend small. – Just because a lender approves you for the biggest house on the block, doesn’t mean you want to spend every nickel they’re willing to lend you. Know your limitations and spend within your comfort zone.

image courtesy of billsoPHOTO

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Ten Tips For Selling Your Home.

February 15, 2013 By Leave a Comment

Thumbs Up

Selling your home? Follow these tips.

As we move into the spring selling season here in San Antonio, it’s time to start thinking about how your home appears to potential buyers. Making your home stand out with some of these simple tips for selling your home will help attract more buyers and keep them from crossing your home off their list of potential houses. Remember, first impressions are the most important – so make sure your home impresses from the moment the buyers get out of their car and head inside.

Want to sell your home faster?

  1. Clean it up – While this may seem overly obvious, you’d be shocked at the number of homes I have seen with my own eyes that didn’t follow this, the “Cardinal Rule” of home selling. Things to look out for? Kids clothes, shoes, tracked in dirt, dusty vents, and toilet seats in the open position (no one wants to look at your toilet bowl, no matter how clean it may be).

  2. Update it – While most home sellers aren’t looking to spend a fortune to ready their home, there are a few quick fixes you can do. Touch up/re-paint worn surfaces, replace old faucets, add a few inexpensive curtains to replace metal blinds, change lighting fixtures (old brass and gold make your home look dated in today’s market), and re-stain or re-paint the front door and add new hardware. None of these will cost a fortune, but they can change the age of your home in an instant.

  3. Curb appeal – You’ve heard this phrase a lot since HGTV came along. Overgrown trees, bushes, and grass are the first things that should be fixed. Plant some flowers, rake those leaves, clean those gutters! Buyers are known to pull up in front of a house with their agent and say “no thank you” without ever stepping foot inside. Don’t let your house become the scene of a drive-by.

  4. Organize and remove – You’re moving anyway, right? Why not remove some of the junk from your closets, pack away the winter clothes, give the old toys to Goodwill (it’s tax deductible) – cleaning out the extras make your home appear neat and clean. Buyers tend to think if your home is organized you’re more likely to have taken good care of the home while you lived there.

  5. Lighting – In addition to changing out some of the old fixtures, be sure that all the lights have working bulbs in them. Clean the shades and glass covers and make the light shine through. Raise the blinds, throw open the curtains and let the sun shine in. A little sunshine spells a lot of happy faces. Turn on all the lights before a showing – don’t leave the buyer in a dark corner of the house.

  6. Smell – One of the stronger senses in the human body, smell can sell. You don’t have to make it smell like fresh baked apple pie, just don’t make it stink. Avoid cooking foods with strong odors, open windows as often as possible for fresh air, use candles or air fresheners to scent the home, and please, please please…clean the cat box!

  7. Price – In any market (especially the current one), price is king. Price will determine whether a home is seen or not seen. The laws of supply and demand determine how buyer’s will react to your price. If you’re overpriced, forget it. If you’re priced right your home will get noticed. Talk to your REALTOR® and review a CMA (comparative market analysis) with them.

  8. Showing availability – If you put a million conditions on how and when your home can be shown, you’re risking losing potential buyers. You want (and need) your home to be seen for it to be sold. Having stringent rules about viewing times, advance notice, or denial of appointments can all lead to buyer’s looking at another house in the neighborhood. Have your agent use a lockbox and a showing service (we use Centralized Showing Service here in San Antonio) and let other agents show your home whenever possible.

  9. Marketing – Today, many buyers are using the internet to find a home before ever contacting an agent. We shop for homes in our pajamas, then hit the streets to look at them. Most agents have some form of internet marketing, but look for one who makes a bigger effort than most. Although agents will tell you can email your listing to 10,000 people, most of it winds up in spam folders. A blind email to a random stranger probably won’t sell your house. Getting in front of home buyers through the big real estate sites along with blogs, social media, and visual media sites will help buyers find your home. Making sure your agent uses all available photos (25 in San Antonio’s MLS) and media will help buyers take a look at your home.

  10. Extras – Offering any incentives or extra inclusions can help sell your home. Don’t want to move the stainless steel refrigerator? Tell the buyer’s they can have it. Don’t need a riding mower where you’re heading? Make sure the agent includes it in the listing. Residential service contracts (also known as home warranties) are also a great part of any listing. Most buyers ask for one in their offer, so why not attract them with an offer of one yourself?

photo courtesy of striatic

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Homeowners Insurance – Great Tips For Homeowners

February 6, 2013 By Leave a Comment

Homeowners Insurance - Rainy Day

Homeowners insurance is one of those thing you never think about…until the rainy day comes when you need it. As a homeowner, you need to be proactive with your homeowners insurance and stay on top of it. The video below will you become familiar with some of the terms and conditions of homeowners insurance and after the video, you’ll find some great tips to follow so that you can be sure you’re not caught on a rainy day with no umbrella.



video courtesy of Howcast

A few tips about homeowners insurance.

  • Definitely do as the video suggests and check your premiums annually. Don’t just stick with one insurer because it’s convenient. By shopping around occasionally, you can often save yourself hundreds of dollars and get better coverage.

  • If you belong to any trade organizations, see if there are any discounts through insurance carriers for being a member. I have received discounts for being a member of the AFM and AGC in the past.

  • If you own any jewelry, make sure you speak with the insurer about getting it covered. My wife and I were burglarized one summer and we lost a lot of valuable jewelry. We received nothing for it, because we had never thought about making sure it was insured. No amount of begging and pleading (or receipts) will convince your insurer that they should reimburse the value of these items.

  • Get to know your insurance agent. Most of us never think of them until we need them. By maintaining a relationship with them you will probably be top of mind with them when they hear about new insurance products or ways to save you money. Insurance agents are much like real estate agents – we love repeat business.

  • As your home appreciates in value over time or you add new items to the house, make sure you review your insurance needs. If you bought a house and insured a house for $100,000 and many years later it is destroyed in a fire, you don’t won’t to realize that the insurance payout won’t even cover the cost to buy a new home in your neighborhood because of the appreciation in home values that has occurred.

image courtesy of aubergene

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Home Inspections

January 30, 2013 By Leave a Comment

Home Inspector Charles Buell

Inspect your home, protect your purchase.

Home inspections are a no-brainer. Yet, time and time again, I hear about buyers who try to save a few dollars and wind up with a mess that could have been prevented. A home inspection is not meant to be a guarantee, but it will give you a lot of great information and help find potential problems. Not all these problems necessarily are deal breakers and some are simple, easy fixes that take moments, but will save you from a nightmare later on down the line.

I regularly read a blog written by an inspector and friend of mine, Charles Buell (the man shown in the photo). Charles doesn’t work here in San Antonio (wish he did), but is out in Seattle, WA. Some of the issues he visits in his blog are the same as ours here in South Texas, some are not. Regardless, I find his blog to be a great source of information about the little details that a great inspector is looking for. If you enjoy the photo of him in the crawl space, take a look at his blog for some amazing photos.

Recently, Charles wrote a post that I really appreciated. In his post, “It’s a Beautiful Day in the Neighborhood—or NOT!,” Charles talk about a few things that I find can be very helpful to remind a buyer of before the go into an inspection:

  • No house is perfect.
    This even applies to new construction. Just because it’s new, doesn’t mean everyone did a perfect job.
  • Nothing lasts forever.
    Something will always need fixed or replaced.
  • Everything can be fixed or replaced.
    And it’s not necessarily going to be the seller’s job to do so.
  • Rats are everywhere.
    You might as well add a veritable host of strange critters to the list, since we live in San Antonio.
  • Roofs leak.
    And they only leak when it rains, which is awfully inconvenient.
  • Wood destroying organisms and mold are everywhere and waiting for a place to happen.
    Knowing who to call and how to help avoid them is the trick.
  • Neighbors happen.
    Do what I do and kill them with kindness (although I haven’t had a bad one in quite some time).
  • It is your job to decide what “works” for you – it is not the inspector’s job – it is not the agent’s job – it is not your parent’s job.
    Much as only you can truly decide if a house is a good value. I can give you the facts and figures, but if you want it bad enough, you’ll pay what you think it’s worth.

The hardest part of a home inspection is understanding that although something may be listed in the report as “deficient,” it doesn’t have to be a deal breaker. The inspection should happen during the “option period” of your contract (a negotiable amount of time). By getting it done during this time, the buyer is able to walk away with losing their earnest money if they and the seller can’t come to an agreement over any requested repairs. Although I know most people want their house perfect when they move in, like many things in life, it’s about choosing your battles. Do you really want to lose the home that just a few days ago you loved, all because a seller refuses to fix the dripping faucet?

A good inspector should be detail-oriented and willing to take the time to explain things in plain English. First inspection I attended, the T&P valve was broke. The buyer’s inspector took the time to explain what it is, why it mattered, and what the recommended fix was (replacing it). He then followed up with why and how they break. That kind of information empowers the buyer for the future and in my opinion is about as valuable as gold. If your inspector doesn’t want to answer your questions so that you’re comfortable in knowing what the outcome of the inspection is, then you don’t have a very good inspector.

If you need recommendations for an inspector, ask you REALTOR®, we work with many great inspectors that can help you. Have more questions? You can always contact us. In the meantime, head over to Charles Buell’s ActiveRain Blog and spend some time there – you’ll be amazed at how much goes into a home inspection.

photo courtesy of Charles Buell

Filed Under: Buying a Home Tagged With: , , ,

Home Loan Dos and Don’ts

January 16, 2013 By 1 Comment

Home Loan

As I was writing yesterday’s article, “Your Credit and Buying a Home,” I was speaking with Michael Kingsbury of Academy Mortgage about some of the ins and outs of credit during the home loan process. Michael provided me with a list of “dos and don’ts” that Academy Mortgage provides their clients when they apply for a home loan and I thought it would be a good list to share. These tips are for after you’ve started the loan process and will help you avoid any hiccups during the time it takes you to close on your new home.

Home Loan DOs

DO continue making your mortgage or rent payments on time.

DO stay current on all of your existing accounts.

DO keep working at your current employer.

DO keep your same insurance company.

DO continue living at your current residence.

DO continue to use your credit as normal.

DO call your lender if you have any questions.

Home Loan DON’Ts

DO NOT make any employment or income changes.

DO NOT make any major purchases (car, boat, jewelry, etc.).

DO NOT apply for new credit (even if you are pre-approved).

DO NOT open any new credit cards (store cards included).

DO NOT transfer any balances from one account to another.

DO NOT pay charged off balances without discussing with your lender.

DO NOT pay collections accounts without discussing with your lender.

DO NOT buy any furniture.

DO NOT close any credit accounts.

DO NOT change bank accounts or switch banks.

DO NOT max out or go over your limit on any credit card accounts.

DO NOT consolidate your debt onto one or two credit cards.

DO NOT take out a new loan.

DO NOT start any home improvement projects.

DO NOT finance any elective medical procedures.

DO NOT open a new cell phone account.

DO NOT join a new fitness club.

DO NOT pay off any loans or credit cards without discussing with your lender.

If you have any doubt about a purchase or adjustment to your life that may affect your credit, talk to your lender before you take action. Even small changes in your credit score or debt to income ratios could have a drastic effects on your ability to acquire your new home loan. There are plenty of real estate horror stories that involve home buyers buying a new flat screen TV before closing on their home and finding themselves suddenly turned down for their loan. Lenders check credit several times during the home loan process…one of those checks occurs days before closing and finding out then that you are suddenly not qualified for the loan will scrap months worth of work and find you without a house. Don’t make that mistake!

image courtesy of Philip Taylor PT

Filed Under: Mortgages and Financing Tagged With: , , , ,

Holiday Decorating or Listing Disaster?

November 1, 2012 By Leave a Comment

Christmas Decorations

Looking for some blog post inspiration, I was combing through my usual sources this morning and a post on Facebook from my friend Ines Hegedus-Garcia at miamism.com caught my eye. Her article, “When are Holiday Decorations too much?,” reminded me that sometimes, less is more.

In our quest to be the coolest house on the block, we can easily get caught up in holiday fever and go nuts with the decorations. While no one loves an overly-decorated house quite like I do, it’s true – if your house is for sale, you need to think about the home as a commodity and not your personal design space. Simple and neutral are words that speak to home buyers and as is the case with any over-decoration in your home, buyers will be distracted, no matter how hard they try not to be or how much their agent tries to focus their attention to the general home versus the assorted items around the home. If your home is on the market this holiday season, keep it simple and keep it clean!

PS If you’re ever thinking about moving to Miami, I’d highly recommend following the www.miamism.com as a great place to start. Tell Ines we sent you!

image courtesy of lalawren

Filed Under: Sell Your Home Tagged With: , , , , ,

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