Home Inspector to the Rescue!

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You Better Give Sherlock Holmes a Ring!

No, you don't need the fictional detective inspector. However, you do need a home inspector! Think of this as a "pre-emptive strike" to maintain or increase your home's value before you put it on the market. Here are the benefits an inspector provides you:

Benefit 1: The inspector can uncover any problems that need fixing, and you can correct them before any potential buyers enter your home. Such an inspection can prevent your sale from falling through!

Benefit 2: With an inspection, you can show prospective buyers receipts to prove the work has been done. Buyers love proof! In reality and in their eyes, it underpins the value of your home and the asking price.

Benefit 3: You may be able to factor the cost of the inspection into the asking price for your home!

Benefit 4: When you have a pre-sale home inspection completed, you're able to estimate if the discount the prospective buyer is asking is reasonable. In other words, you can refuse unreasonably low offers if you know the value of your house, including the degree of its defects.

So, How Do I Find a Qualified Home Inspector?

I can recommend a certified home inspector who will do a great job for you. However, if you decide you want to do it on your own, make sure he or she is qualified!

Con artists sometimes pose as home inspectors, taking your money and giving you nothing but grief in return. Here's how to know if an inspector is the real deal:

Ask your friends for referrals. If they've had a good experience, go with that home inspector. I’d recommend you interview a minimum of two or three inspectors before choosing one. Make sure they’re full-time professionals conducting several inspections a year.

If possible, select a home inspector who’s a member of The American Society of Home Inspectors or the National Association of Home Inspectors.These association members follow a stated code of ethics. In addition, they’re prohibited from having a professional interest in the sale, repair or maintenance of a property they inspect. They’re also forbidden from using their inspection business as a way to find customers for a handyman service that they “happen” to own. You may want to go on the Internet and use ASHI’s “Find a Home Inspector” link to identify potential candidates in our locality.

As part of the interview process, ask for samples of comprehensive reports (about 20-50 pages in length). The samples should be painstakingly done and backed up with complete details, including photos and diagrams. If an "inspector" refuses to give you a report or provides only a sloppily written 2-to-5 page sample, run the other way!

What Does a Home Inspector Cost?

Frankly, the rates vary. On a national level, the rates fall in the range of $200 to $400. As part of the interview process, I recommend you ask several inspectors for their rates so you can get an idea of the price range. In the end, keep in mind that while the cost of an inspection may seem high, it can actually add several thousand dollars to the value of your home! So, don't think of it as a cost; think of it as an investment!

What Exactly Does a Home Inspector Evaluate?

In general, he or she will look at the following areas:

- Electrical System Wiring, Service Panel and Service Capacity

- Energy Conservation/Safety Items

- Exterior Walls, Siding, Trim

- Floor, Wall, Ceiling, Roof Structures

- Foundation, Footings, Crawl Space, Basements, Sub-flooring, Decks

- Gutters, Downspouts

- Heating & Cooling Systems

- Insulation & Ventilation

- Interior Floors, Walls, Ceilings

- Moisture Intrusion/Mold

- Overall Structural Integrity

- Plumbing Systems

- Property Drainage/Landscaping

- Roof & Shingles, Chimneys, Attic

- Walks and Drives
 - Windows, Doors, Cabinets, Counters, etc. 

Should I Be Present During a Home Inspection?

You bet! A typical inspection takes three hours or more, so I recommend that you be present for at least the first 30 minutes to make sure the job is being done thoroughly. At the end of the inspection, the home inspector should give you a point-by-point summary of what needs to be corrected in order to add value to your home!

Hope you enjoyed this very useful information about home inspection! If you have more questions, please don't hesitate to contact me!

MAY PENDING SALES UP 10 PERCENT

Activity Remains Strong

Naples, FL (June 15, 2012) – Pending sales increased 10 percent overall in May 2012 compared to May 2011, according to a report by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). They increased by double-digit percentages in all price ranges, except in the under $300,000 category which increased a respectable 6 percent in May 2012 compared to May 2011.

"The market seems to be on track right now," said Cindy Carroll of Carroll & Carroll, Inc. "Current inventories in many market sectors mirror levels we saw in 2003/2004. This is further evidence that we are returning to a balanced and stable market."

Mike Hughes, General Manager of Downing-Frye Realty stated, “Inventory is down by almost 1,000 units over the last three months and we have experienced five straight months of positive momentum. Those are indicators of a potential strong summer for home sales.”

John Steinwand, President of Naples Realty Services stated, “With the reduced overall inventory of 9 percent, properties are selling at higher prices than a year ago.”

Coco Waldenmayer, Managing Broker at Engel & Voelkers, agreed, “Our current overall inventory of 6,679 hasn’t been this low since NABOR® began tracking the statistics in January of 2007 when inventory was 10,864.”

Phil Wood, President of John R. Wood Realtors said, “Things are improving. We are starting to see homes sell within three days, and there has been an increase in the sale of teardowns. During March, April and May traditional sales have increased, and the condominium market is especially strong as shown by May condominium sales in the $300,000 to $2 million range up 28 percent.”

The May report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary.

The May sales statistics are presented in chart format, together with these overall (single-family and condominium units) specifics:

• The overall median closed price increased 8 percent from $175,000 to $189,000 for the 12¬month period ending May 2012.

• Overall pending sales increased 11 percent in the $300,000 to $500,000 category, and 20 percent in the $500,000 to $1 million category for the 12-month period ending May 2012.

• Overall inventory dropped by 13 percent, from 7,705 in May 2011 to 6,679 in May 2012.

• Overall closed sales increased 15 percent in the $500,000 to $ 1 million category, from 781 units to 901 units, and rose 15 percent in the $1 million to $2 million category from 349 units to 403 units for the 12-month period ending May 2012.

• The average days on the market decreased 11 percent in the $300,000 to $500,000 category, from 208 days on the market in May 2011 compared to185 in May 2012.

• Overall pending sales in the Naples Beach area increased 15 percent from 1,690 to 1,943 and closed sales increased 16 percent from 1,493 to 1,727 for the 12-month period ending May 2012.

“Single family home sales remain strong,” remarked Jo Carter, President of Jo Carter & Associates. “Pending sales activity in the $2 million plus category is up 50 percent, from 18 units in May 2011 compared to 27 units in May 2012. In the single family $1 million to $2 million category in closed sales there was a 100 percent increase from 19 units in May 2011 compared to 38 units in May 2012.”

Phil Wood reflected, “Now that the market is improving we have seen local residents make the decision to sell their current homes and move into their dream home. With saleable houses, interest rates at historic lows, and affordable prices, it is the ideal time for many to finally buy their dream home.”

Check out the May Stats here. >>

10 Helpful Tips for an (Almost) Stress-Free Moving Day!

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Oh, moving day is exciting, isn’t it? And, sometimes, it’s too darned exciting! After all, you have so many things to remember…worry that the mover will show up on time…fret that things may be lost or get broken…and on and on. But, really, that day doesn’t need to be so stressful!

If you follow the tips below, you can make the day as painless and as enjoyable as possible. The key underlying each of these tips is, of course, proper planning!

Tip 1: Start early!

There are two reasons for starting early. One is psychological. When you start early, you can break the moving task down into smaller steps; that is, you can pack a little at a time. Psychologically, this gives you a great boost because you’re not overwhelming yourself by trying to do everything at once. The second reason relates to the first: packing is harder and more difficult than you think! So, by starting early, you have time to think things through and pack logically and economically!


Tip 2: Weed Out the Unused or Useless!

As I’m sure you know, you’ll be amazed at how much stuff you’ve accumulated that’s either never used or seldom used. So, why take it with you? Sort through everything and get rid of any item you haven’t used for a year or so. Donate it to a charity organization or, if appropriate, throw it into the trash or recycling. Remember, long distance movers charge by weight! So, the equation is simple: less weight = less money out of your bank account! Local movers charge by time! So, less time = less money! Plan on making a couple of passes through your belongings. If possible, take a break of a day or more between passes. That allows you to take a more objective look at everything.

Tip 3: Label Everything in Sight!

This is a real time-saver and stress-reducer. On each box, write down the contents as specifically as possible. At the same time, avoid overdoing the “Miscellaneous” label. If you end up with several boxes with that same label, you won’t have a clue as to what they contain!

Tip 4: Do One Room at a Time!

There’s always the temptation to take items from several rooms and put them in one box. This is a good way to end up with too many “miscellaneous” boxes. Instead, pack one room fully at a time and then move to the next room.

Tip 5: Consolidate!

Since it’s easy for small boxes to get lost or damaged, place smaller items in small boxes and then put those put small boxes into a bigger box.

Tip 6: Take Important Documents with You!

Never pack any personal financial information and important papers and put them on a moving truck. Identify theft is possible, but, equally important, if those documents are lost, it could take you many, many hours to replace such important items as bank statements, passports.

Tip 7: Take Your Valuables with You!

Use common sense and take jewelry, artwork, rare book collections, etc. with you. You don’t want it on a moving truck, and, to be blunt, most moving companies don’t want to ship it for obvious liability reasons. If you absolutely have to ship valuables, get expanded moving insurance through the carrier or a third party.

Tip 8: Plan for Essentials!

Keep a box separate for all the essentials you’ll need in your new home and make sure it’s loaded last onto the truck so you can get at it easily upon arrival. Depending on your needs, “essentials” could include: soap, towels, toilet paper, sheets, coffee maker, drinking cups, paper plates, eating utensils, pencils and paper, etc.

Tip 9: Inventory Everything That Goes on the Van!

List every box or item that goes on the moving van and take the list with you. Once you arrive at your new home, have a family member tick off the boxes and items as they come off the truck. This is vitally important if your belongings are transferred from the truck to storage before being delivered. If a box is missing, lost or left behind, it could be months before you realize it’s gone.

Tip 10: Save Money!

Packing boxes can be expensive. If there are items that will go into plastic storage bins and/or large trash bags (stuffed animals, towels, etc.), then buy the inexpensive bins or bags. This will also save you the time and trouble of unpacking the boxes in your new home.

If you are looking for a local mover, call us because we have recommendations!

How to Be a Wise House-Shopper in a Great Buyer’s Market!

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There’s no doubt about it – there are a great many bargains in the real estate market today if you’re a person looking for a new home. However, we highly recommend that you don’t get dazzled by all the opportunities and make a potentially expensive and poor decision. To that end, I’d like to offer you some common-sense guidelines to follow.

Guideline 1: Pay Attention to Your Budget
Before beginning your search for that new home, sit down and come up with a monthly payment you can handle with ease and then look for the house that fits that budget.

Guideline 2: Save Up for a Down Payment
Due to the “mortgage meltdown,” lenders are currently much more cautious about giving out money. Depending on the situation, they may insist on a minimum down payment of 10% or one that’s all the way up to 25%. So, start saving!

Guideline 3: Improve Your Credit Score
A good credit score is a great way to make the whole process easier when you apply for a loan. Today’s lenders scrutinize such scores more closely today than in the past. If you don’t have a good score, work hard to get it up into an acceptable range. It’ll save you money on interest charges and down payments in the long run!

Guideline 4: Get a Pre-Approved Mortgage Loan
If you’re a first-time home buyer or simply a buyer who wants to make sure you stay within your means, it’s a wise idea to get a pre-approved mortgage.This is simply the process of applying for a mortgage and getting approval for the loan prior to buying a home.

A “pre-approval” is an indication that the lender is ready to extend a mortgage to you once you’ve located the right property.  And it has several benefits. First of all, it saves time and energy. Once you have a pre-approved loan amount, you’re required to stay within the limits of that loan in terms of the price you’ll pay for a house.

First, when working with a realtor, ask him or her to limit the choices to those stated in the loan. This prevents the agent from showing you properties which are out of your range. By the way, they’ll really appreciate those parameters because it’ll help them zero in on properties with the best chance of sale! 

Second, you can spend more time looking at homes you really like and, simultaneously, not wasting time on houses that aren’t within your budget. This allows you to focus on the details of the homes you do like in order to make sure you select the right one; for example, kitchens, baths, garages, etc.

Third, you can bargain more effectively with sellers once they know you’re pre-approved. In the current market, that’s a great relief for many sellers because they realize they have a reasonable certainty of selling their property when working with a pre-approved buyer.

Fourth, you can close faster with a pre-approved loan because there’s no time lost in the usual processing period for loans. For example, an appraisal can be ordered right away, and you have the potential to cut a 30-day closing to two or three weeks.

Finally, the seller will prefer to deal with you, particularly if he or she needs to move quickly.

Now, you have some common-sense guidelines to follow when seeking a new home in today’s market! You can learn even more by contacting us today.