What's that thing sticking out of the wall? What's that? It's a duct for a bathroom vent that does not have a cover on it. This wouldn't be so bad, if it is in a house that is in the middle of renovation. It's a simple thing to fix. Someone needs to
I started working in real estate in the Stone Age. Well, actually, it was the Paper Age. In 1991, I was the only agent I knew who read the Multiple Listing Service (MLS) data at home from my computer. Now, everyone has MLS on their home computer, agents and the public. The access to listings
Congratulations! M_ and M_ announced their wedding date next August. A little while later, they told me their house hunting plans. They want to start looking in January and move into the new place before they are married. That is a good plan. Good decisions take time and energy. Part of what we do at
For buyers, if a house you are looking at has functional obsolescence -- that most people agree is obsolete -- there will be a discount to the price. Functional obsolescence is the economic term for an item that is no longer useful or desirable because of an outdated design feature. In real estate, that covers
Sometimes a couple will qualify for a mortgage with one partner’s income, but won’t qualify with their combined income and debt. Think new lawyer with $200,000 in student loans. Think recently divorced and remarried person still carrying the bad credit from his/her ex. You would think that lenders wouldn’t allow only one person to be
When I was thirteen or fourteen, I had a button that read, “If you can’t dazzle them with your brilliance, baffle them with your bullshit.” That works in middle school, but I grew out of it. Some of my peers didn’t. Because my clients and I sign into open houses with my email address, I
When a buyer makes an Offer to Purchase, it should be clear and complete. It must give the seller the impression that you are a ready, willing, and able buyer. It should reassure the seller that you are organized, have solid financing, and that you are the kind of people they’d like to sell to.
At most social occasions, I have been getting a lot of sympathy these days. “Are you OK?” they ask, expecting tales of bankruptcy and nervous breakdown. “I hear there are ten offers on every property and everything sells for $50,000 above asking price.” The stories are true, but they are not true. Some properties are
People who already own one house or condo who are looking to buy a bigger place (trade-up) or a smaller/cheaper place (downsize, right-size, or down-cost) are at an advantage now that the market has recovered. Whatever your equity position was in 2008, it is better today. That allows some owners to get enough liquidity to
It is folly to pretend to be able to predict any real estate market. A year ago, I got this email from Kiplinger [italics mine] June 10, 2013: "Home prices soaring by 20% or more over the past 12 months. Bidding wars. Houses sold just days after the for-sale sign goes up. Is another housing