Archive for November, 2015

TOP TEN WAYS TO LOWER THE VALUE OF YOUR NEIGHBORHOOD!
November 14, 2015

(or How to make it difficult for your neighbor to sell his home)abandoned_house_royalty_free_080916-026182-569042

  1. Don’t mow the grass or water it.  Two foot high dead weeds are always a neighborhood downer.
  2. Let juniper hedges and ivy overgrow the public sidewalks.  This will keep nosy people from walking past your house while giving rats a nice place to live.
  3. Park all your cars and other vehicles on the street.  Come on – you need your garage to store your beer can collection and the driveway is for your skateboard ramp.
  4. Have your dog bark incessantly – day and night.  Better yet – let him go on a morning romp through the neighborhood sans leash, of course.
  5. Turn up the volume on your music and TV especially when suffering from insomnia.  If you can’t sleep, why should anyone else?
  6. Don’t clean your pool.  Mosquitoes are a great way to scare away pesky humans.
  7. Why replace your wood shake roof just because it’s leaking.  After all, isn’t that what pots and pans are for?
  8. Don’t paint your house, fix broken windows, replace the banged up garage door, take down holiday decorations, or bring in the trash cans.  Who in their right mind would want to buy a house in close proximity to yours?
  9. Don’t replace the almost non-existent asphalt driveway as your neighbors have.  Use the money instead as a down payment on a four-wheel drive vehicle for those rainy days when the mud makes it difficult to get to your front door.
  10. Never smile or have a kind word for potential neighborhood buyers.  Let’s face it – no one’s Dream Home includes surly neighbors.

Just remember these actions can come back to bite you.  If you should need to refinance, take out an equity line, or sell your home, your value will be based on neighborhood sales during the past few months.  If your actions or neglect caused prior sellers to have to accept lower values for their homes, that will lower the value of your property as well.

Rich & Jan McMillen
www.TOHomes.com

THE TRUE MEANING OF “AS-IS”
November 10, 2015

“AS-IS”: To Sellers, it means a quick and easy escrow after negotiating only once with a Buyer. Buyers, on the other hand, think it means they are getting a smoke-smelling cosmetic fixer with 70’s green shag carpeting and 80’s ivy-print wall paper for a decent price. At the time a contract is accepted by all parties, the chances are minimal that the Buyers have seen the Seller’s disclosures, let alone know the secrets of the house.
When Buyers exercise their legal right to do inspections of the property (and they usually do), they often walk away with a much-changed perspective of the dream home they thought they were buying. What is a Buyer to think when the Seller says there is no problem with the roof, only to have the inspector reveal that besides water stains on the rafters, there are pots and bowls set out in the attic surrounded by towels? (Yes, this happened.)

Leaking-Roof1
What about issues that even the Seller may be unaware? Broken sewer lines, unsafe fireplaces, and compromised electrical systems are often discovered in these inspections. What would anyone’s reaction be to learning that the firebox in the furnace is cracked?
Most of the concerns of Buyers have to do with health and safety issues and code violations. Even if the Seller has lived with these issues for years, the Buyer may not wish to test their luck. They may have been ready to tackle paint and flooring, but not have the funds to remove asbestos ceilings or correct serious code violations. However, with some concessions by the Seller, the Buyer may be willing to continue in the transaction. This will mean another round of negotiations where the Sellers need to stay focused on their ultimate goal and what is in their best interest to reach that goal. Sometime a $500 or even a $5,000 concession is better than starting the whole process over again with a new Buyer. By the way, the Seller will need to give any inspection reports or quotes received from the previous Buyer to the new Buyer.

Rich and Jan McMillen
www.TOHomes.com/