Suzette Peoples, Broker/Owner 23+ years of experience. Suzette Peoples Real Estate Blog
Suzette Peoples Real Estate Blog
Friday Feb 04, 2011
As Is, New Homes and Inspections
Since there are lot of people buying foreclosures and new homes, thought I would put my two cents about inspections. Let's discuss foreclosures or As Is properties. Just because the seller is selling As Is and you agreed to the As Is does not mean you know what your buying. As Is means the condition the property is in at the time you wrote the offer. The condition is what you and the seller are aware of at that time. Foreclosure sellers are very limited and do not have to disclose(and most time are not aware of) anything about the property. So when they are selling it As Is, it is what you see and very very limited. You as the buyer are also agreeing to As Is and what does that really mean? Until you investigate and inspect a property you really do not know what the "As Is" is either. So hire a well qualified licensed experienced inspector. Usually with references. Realtors are not allowed to refer only 1 but we can give you a list and let you know which ones their clients have used and liked before. Make sure you are there during inspections, make sure the inspector goes over the report in details. Make sure you know what the "As Is" really is before you invest your money into any home you buy.
As for new homes, yes,yes,yes.. hire a licensed inspector thru-out the process. It is not a matter of trust it is a matter of money and knowing what your paying for is being built correctly. Builders rely on others to build your house, they are not perfect, why not check and recheck. Nothing is worst then when you go to sell only to find out when the buyer buying your home inspectors finds items that the builder should have done when it was built. No fun having to contact the builder 5-10 years later.. After all it is a major investment in buying a home , why not invest a few hundred dollars and know what you are really buying, Trust me in the 22 years of selling New and As Is, you will be glad you did... Suzette says...because she cares..
Please see this go to this link from the National Association of Realtors. There are lots of rumors and false e-mails about Health Care Bill 4.0 percent "transfer tax" on home sales. Also on Energy license or Retrofit on home sales. Please pass this along and let's all know the facts. Be an informed voice and get out there and vote to make a difference. Your vote does count in numbers.
Great article on this web site at www.energystar.gov This is great sources of information on tax credits, going green, New Homes that qualify for Energy Star Programs and more. Great tips on buying and disposal of energy star products and recycling. Also, Rebate Programs on Energy Star appliances too. Let's all start saving our Planet for the next generation. We can make a difference one house at a time. Why not start saving Energy and Money at the same time. Sounds like a WIn WIn to me.. Go Green!
This is a new twist to killing fire ant colonies. For those not familiar with Walter Reeves, he is from the University of Georgia agriculture department, specializing in home gardening. His television show, 'Gardening in Georgia ', is on each Saturday. I know fire ants are picky eaters and any type poison that is effective takes seven feeding steps before the queen receives it. Plus, if the bait is stored in close proximity to any petroleum or fertilizer products they won't touch it. Contact poisons that are on the market just cause the colony to move away. A well developed colony can be as deep as 30 feet and spread out some 20 to 50 feet from the mound center... This was documented by studies done in the early 60's when they were first sited in South Alabama . An environmentally friendly cure for fire ants has been announced by Walter Reeves on his Georgia Gardener radio program. Testimonials that it REALLY WORKS are coming in. Simply pour two cups of CLUB SODA (carbonated water) directly in the center of a fire ant mound. The carbon dioxide in the water is heavier than air and displaces the oxygen which suffocates the queen and the other ants. The whole colony will be dead within about two days. Besides eliminating the ants, club soda leaves no poisonous residue, does not contaminate the ground water, and does not indiscriminately kill other insects. It is not harmful to your pets, soaks into the ground. Each mound must be treated individually and a one liter bottle of club soda will kill 2 to 3 mounds. Let's all find out if it kills Texas Fire Ants! Let me know..
You do not have to pay anyone to file for your Homestead Exemption. It is a simple form you can get from your Local County and fill it out and fax it in. Please make sure when you get your statement from the County that it shows the Homestead Exemption status. Sometimes they do not receive your form. Also if your spouse dies or you get a divorce the Homestead may be removed and you have to re-file. Be aware of Homestead Exemptions and make sure this is done if you are claiming your current home as your Homestead. Remember, you have to have purchased and occupy your home as of Jan 1st of the year you are filing. Do not file sooner. So for all those that closed with me in 2009, I will be sending you the form for FREE and you just need to fill it out and fax it in after Jan 1st 2010. Happy New Year everyone!
FYI, Fort Bend County Flood maps are changing. Please visit the web site of http://fbcmap.co.fort-bend.tx.us/floodplainmap/ and http://fbcmap.co.fort-bend.tx.us/floodmaptool/ City officials are encouraging residents to view these new maps. Maps will be released to public for 90-day comment period. The process could take 90 days to two years. Check with you local Insurance Company and see how this could effect your property too.
I get lots of calls about about doing repairs or upgrading your current home. If you do tile versus wood will you get more when you sell. If you add a covered patio will you get your money back? If you replace the A/c unit will you get more when you sell? These are all great concerns and all have different answers. Let's start with general maintenance of a home. Painting, replacing old or broken fixtures,replacing carpet,fixing things and doing general repairs all need to be done regardless if your selling or not. If it is broken then it needs to be fixed or replaced period. Trying to sell a home with any items that are in need of repair tells the potential buyer that you have not maintained this home and why is it broken and why did you not fix it. It will send the wrong signals and then the buyer is looking for more items that may be broken or getting ready to break because now they are worried this house was not maintained. Ok, now on the upgrades. Will you get your money back adding a covered patio? Yes/no. It depends on the quality of the patio and the cost. If you spent $30,000 for something that is over priced and too fancy then the buyer may not feel it was worht the money spent. It is like adding a pool, yes most people love a pool, but there is always a few that think they cost too much to maintain. Just remember the rule of thumb. If it is broker repair or replace it. It you want to update then update for your enjoyment it and don't bank on getting all you money back when you sell. It always depends on the each person's personal taste and what the market will bare. You can always contact me and I will be happy to assit and give more details on any questions about any of these things..
I just got an e-mail from someone who lives in First Colony who was told the flood maps are being revised. He heard this from the Fort Bend Appraisal District (that I did not verified). So I went to the web site of www.fema.gov and then found the web site of www.floodsmart.gov Both are excellent sources of information. The first site will help you with all kinds of information about hurricane prepareness and what to do in emergency and all sorts of resources. The floodsmart site is interesting site about flood maps. If you put in your address you can see if your home is in a high risk flood zone. I was told that if your home is on a creek or levee be prepared you may be required to pay flood insurance in the future. I called an Insurance Sales Rep. and he said flood insurance is about $350 a year if your not required to have flood insurance. But if your property becomes a required area it can go as high as $1300. That is quite a jump. So check out and see if your at risk. Contact your Insurance agent for more information. Check out the web site for more facts too. I am just passing along what I was informed by a concern homeowner..Just wanting my clients to be AWARE! If anyone knows anything about this, please share..
That time of year again! Tax appraisals are coming in. Time to decide to protest or not. The first thing you need to do is contact your favorite Realtor and ask for comparables. Then decide if the solds are there to justify lowering your value. If there are no solds low enough, then you may have to resort to hiring those companies that fight for you. They will take a percentage of the savings but it does not cost you to try if they don't win. Values should not be determined on what your home would sell for in a competitive market but based on what everyone else is paying in the neighborhood. Some neighborhoods are selling well and not going down in value. We all want our values to increase just not pay more taxes on that value.No one wants to pay more taxes then their neighbor does for the same home. Fair is fair. The best of luck and you never know unless you try.
I just attended a class on the Energy Star Program. It was very informative class about new home construction and saving energy. I am amazed about how effiecient and energy savings that new home builders are building new homes. Please visit the web site http://www.energystar.gov/homes for great information on saving energy and saving money. For more information about which Builders build Energy Star Homes and more information contact me any time.
So you have decided that you do need a Realtor to represent your best interest in purchasing your next home. First make sure the Realtor you decided on has years of experience, knows the market your searching in ,has the ABR(Accredited Buyers Rep.) designation, and is a full-time Realtor. You also want to make sure they are designated as a Realtor(member of National Assoc. of Realtors). The designations are important because they are licensed by the State and affiliated with a National organization. They are also required to continuous Education and a need a license to practice Real Estate. It does not mean they have to work for a National Franchise, they can be Independent Broker too. Make sure the Realtor gives you all the correct forms of representation, disclosures and all other important information you need to be aware of when buying your next home. There are disclosures about sex offenders, minerals rights, tax prorations, Title Insurance, annexation, environmental concerns,inspections,HOA’s, flood insurance, Home insurance(CLUE reports), home warranties and school boundaries just to name a few. Your Realtor should be educated in all these areas and or know the right sources to refer you to the answers to these concerns. They all can effect the value of the home you hope to purchase. You also want to make sure they know the market and the values on the neigborhood. See if they have sold homes in the area your looking for. Do they know builders and the different floors plans. Do they know about the amenities of the neighborhood, the market trends, the values increasing or decreasing, just to name a few. Do they know if the home your looking for is in the highest price or lowest price of the neighborhood? Do they know of future growth/developement in the neighborhood? What about financing? Do they have any expereince with Lenders? Do they have any training in the Lending process? The Realtor you want to represent you must know how to negotiate in your behalf. Make sure you understand their style as they are going to write the offer with your best interest in mind. Remember, they are the ones speaking/negotiating for your best deal. I always say you get what you pay for. Get the best Realtor who has the experience and the knowledge of the Real Estate market your looking to buy in. It can and does make a difference. No Realtors are not all the same. Hire the best and weed out the rest!
Let my Real Estate experience from Marketing/Selling all types of homes, from Foreclosures to new homes to resale. I can help you with all your Real Estate needs. There is no such thing as a dumb question. I am here to help educate the consumer and other Realtors so we can make Real Estate a more Professional environment for everyone’s benefit. I may not have all the answers but the experience I do have is 20 years worth as a successful Real Estate Professional. Ranked in the top 1% of all Re/Max Realtors Nationwide. Broker Designation, E-Pro, GRI, and ABR designations too. Living and working in the Fort Bend County area for over 25 years. I have sold homes in all over the neighborhoods of Fort Bend County. I know the area. I know the market. Look forward to sharing my experience with you. Thank you.
