The Value Of A Home

I have been reading a lot lately from people talking about pricing. Homes are only less subjective than art and collectibles. What is the White House worth? I got into an online discussion with an appraiser from the Southwest. He believed that only a licensed appraiser can determine the value of a home. Asking a Realtor®, in his opinion, was like asking your tax attorney to take care of your divorce. Sure.  This from an industry that only needs three comparables to justify a price. Continue reading →

The Draw Of the Flaw

I stole the headline from the Washington Post because it is so good.  Buying a home with real or perceived flaws can allow you to be in a neighborhood at a discount. It is just best that you understand why there is a discount. Powerlines are often an issue for many.  No one has determined conclusively whether or not it is bad for you and for the conspiracy leaning folks, would the government admit to it and incur the cost of burying the lines?  In Continue reading →

When A Realtor Sells Their Own Home Part 1

When I first got into real estate I remember being told, “You should buy and sell your own home every four years so you stay in touch with how tough the process can be mentally.”  It is tough. It’s been reported that it can as stressful as a death in the family. On Saturday we scrubbed the siding in the porch area which wasn’t fun.  The way it is set, it traps breezes which is great during the summer, but when the door is closed Continue reading →

Virtual Tours and Bill Gates Home

I have talked to clients who have seen photos and virtual tours of homes before we went to see the homes.  Time after time I hear them say, “This is room is bigger than it looked online.” Virtual tours give the buyer a false sense that they have seen the home which allows them to exclude it before they truly see it.  Standing in a room is significantly different than seeing any virtual tour.  How many dating sites have video? Pictures are to entice people Continue reading →

The Downside Of HOA’s

HOA’s (Homeowner Associations) are a necessary evil for attached homes – row homes and condos.  They make sure the homeowners follow the rules that they agreed to when they bought the house. They also keep up the standards for yards and exteriors which includes replacing the roof and siding when needed. Part of the issue is, when there is a problem even with just some of the homes, all have to pitch in.  And if you don’t agree with the need for the repairs you Continue reading →

Can You Limit Repair Requests From The Buyer

Trying to limit repair requests from the buyer doesn’t work for a couple of reasons; 1. If you say I will only pay $X towards repairs then you have already given up that much money.  What if the repairs are $100 more or $500 more?  Will you let the house go for that?  I have had homes with no repairs requested.  If they offered $750 it would have absolutely been requested. 2. If you say that the house is “AS-IS’ no repairs like the bank Continue reading →

Low Ball Offers: It Can Hurt To Ask

Seth Godin had a post about the damage that can be done by asking.  Real estate is a slightly different situation where people don’t get a chance to connect usually and it is a “cold” request.  Seller’s can take low offers personally which I have seen many times.  Low ball offers in this case are unreasonably low offers just to get the seller to come down. Sometimes they reject the offer, other times they accept begrudgingly, not giving up anything on the inspection.  What low-ball Continue reading →

Pending Activity For March

April is here and so is the activity in the Portland metro area.  I am continuing to track the Pending activity which I believe shows at least the intent of buyers even if the homes don’t sell. For 2009, Jan   1062  (470 the first half and 592 the second) Feb   1142 March 1523,   as of March 24th there were 1110 pending listings.  Pending activity has picked up nationwide according to NAR, National Association of Realtors. To see how far we have dropped Continue reading →