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Tacoma Home Sellers Should you do a pre-inspection on your home?

Monday, January 31st, 2011

Often times when I am meeting with potential home sellers I suggest that a home inspection be conducted prior to bringing the home on the market. While this is not always received with enthusiasm it always opens up a conversation about the benefits and drawbacks (if any) of a pre listing home inspection.

One of the benefits of having a home inspected prior to going on the market is that it allows the sellers to know the overall condition of their home. If there deferred maintenance then the potential issues have been identified and the sellers can make the decision to repair the problem or to adjust the asking price to reflect the condition of the home. This is just about the only drawback to having a pre listing inspection. However, if there are problems with a home in my opinion it is always better to know sooner rather than later.

Buyers and their agents can look at the pre listing inspection and see what issues if any were discovered. If the issues have been resolved then the buyers can see that the repairs have been done and how well they have been completed. From there the buyers and their agent can make a better informed decision to make an offer and at what price. This information can be helpful to help reduce buyers potential concerns about the condition. Certainly a buyer should have their own home inspector do a complete home inspection after mutual acceptance.

Sellers can make repairs using vendors who they are comfortable with. Having a buyers home inspection call for repairs often times requires the sellers to make repairs as quickly as possible to keep the home under contract. This can potentially reduce the availability of choice when it comes to vendors to do the work. Having a pre inspection done allows the sellers to contact vendors who they know and trust to do the work without having to worry about a “getting it done yesterday mentality.”

By having the home in tip top condition the home will show better to prospective buyers. Having your home shown in the best possible light sends a message to anyone who is looking at homes that this home has been well cared for. This is a pleasant change from the many bank owned properties that are on the market. Everything that can be done to make your home show better is important in today’s market.

Taking the time before the home is on the market to make sure that it is in as good of condition as possible will make the time that the home is on market shorter. This reduces the costs of sale and allows you as the seller to move on as quickly as possible. Having a pre listing inspection gives you the opportunity to make a better informed decision on pricing your home for the market. When you are thinking of selling your home in Tacoma it is important to make sure that you and your agent are doing everything you can do set your home apart from the competition.

When you are ready to begin a conversation about selling your home we will be ready to meet with you and to help you position your home to sell as quickly as possible. Call us we will be here.

Posted in Selling a Home | No Responses »

Should I List My Tacoma Area Home Now? Or Should I Wait Until Spring?

Friday, January 7th, 2011

I was having a conversation the other day with a potential home seller. The question that the seller asked about selling their home now or waiting until spring to put it on the market was an interesting one.

First off in our current market you have to be a motivated seller to put your property on the market. Not many people who are just fishing to see what might fall in their laps are actually selling their homes in Tacoma. This client is motivated as they want to downsize and they want to take advantage of the current pricing to buy a smaller home but with a view of the water etc. They have motivation.

Second off in our current market sellers should have equity in their homes. This most likely means that they have been in the home for over five years. This potential seller has that.

Third sellers need to realize that by putting their home on the market at anytime of the year without making the home ready to be on the market they are setting themselves up for disappointment. The potential seller was a bit taken back by this. The reality of home sales in 2011 in Tacoma and in my opinion is as follows:

Location
Price
Condition

If your home is in a desirable location you will have people interested in buying. If your home is in good or better condition you will have people interested in buying. They will also be able to borrow the money to buy if your home is in good condition. PRICE IS VITAL. Buyers are now looking for bargains. You must be priced ahead of the market. A bargain can be found in multiple ways though. Price is certainly the first and easiest way to attract buyers. Condition can be every bit as desirable. If you are the best kept and best maintained home in your neighborhood that is currently for sale. Buyers will look at you. A good agent will be able to demonstrate that it will be less expensive for a buyer to pay more for your home upfront than it will be to buy the less expensive home and repair it. You cannot be crazy expensive vs. the house down the street that needs just carpet and paint but you can charge more.

Now is a great time to put your home on the market if it is ready to sell! I am not saying that 2011 is the best time ever to sell your home. I am saying that anytime you want/need to sell your home and it is ready to sell is a great time to do so. Waiting for some magic date on the calendar to list your home is not going to help you sell your home. Location, Price and Condition are what is going to get your home noticed.

So should you list your home now or wait until spring? Do you have to or want to sell? Is your home ready for showing to potential buyers? Does it look as good as it can? Are you willing and able to price it so that buyers will look? If you answered yes to all three then list your home today! If you cannot answer all three with a yes then you until you can your home will not sell as easily no matter if you wait until spring or not.

Call me today for my professional opinion on what your home will sell for and what you can do to get it ready to sell. I am looking forward to helping you sell your Tacoma area home in 2011.

Best-

Scott Cowan

Posted in Ramblings, Selling a Home, Tacoma | No Responses »

Tacoma Side Sewer Inspections Will NOT Be Mandatory

Monday, November 29th, 2010

The City of Tacoma has finally made a decision to not make the side sewer inspections mandatory. The City of Tacoma has amended the ordinance that was to require side sewer inspections at time of sale or for major remodel. The new requirement is that Real Estate agents provide informational flyers to the parties involved in the transaction.

This is good news for the Tacoma housing market as the requirement of side sewer inspections would make short sales and bank owned sales even more challenging due to the cost of the inspection and who would be paying for the inspection. The burden would of been on the seller but with a short sale the seller who is already having troubles making their mortgage payment the cost of the inspection and the potential for a large repair bill. Bank owned properties are always a challenge getting work orders completed. The thought within the real estate community is that the banks would not be willing to pay for the inspection much less any repairs.

While the side sewer issues in Tacoma need to be addressed it is my opinion that the ordinance as it was written was going to do more hinder home sales in the City of Tacoma than it would help with the problems created by the side sewers that were damaged and in need of repair.

The City of Tacoma website and the article is here.

By providing information on the side sewers and what to look for the City is helping educate consumers and home owners on the required maintenance of a side sewer.

Posted in Ramblings, Selling a Home, Tacoma | No Responses »

Tacoma Home Seller Sewer Inspections Postponed Until December 2010

Friday, October 1st, 2010

The City of Tacoma updated the city website September 29th. with the information that the City Council voted to delay the implementation of the Side Sewer Inspection Program. ( I loving call it Project Fiber) Until December 1st 2010. During the time between now and December the city may be considering changes to the proposed ordinance as the city staff continues to review the program.

What does this mean for people who are buying or selling a home in Tacoma? Currently it means nothing is changing in the process of buying or selling a home in the city limits of Tacoma. However, as of December 1st. 201 it can mean that the City of Tacoma will require all sellers to provide a video and written report of the condition of the side sewer pipes for all properties sold within the city limits.

In my opinion the way the current ordinance is written that the side sewer inspection requirement will be another hurdle that buyers and sellers will have to overcome even if the home is a short sale or a bank owned foreclosed property. Who exactly will pay for the inspection and or the repairs? If a seller is not able to make their mortgage payment how can they be expected to repair a sewer line? If the property is foreclosed on this will be just one more thing for the bank to not agree to repair. The burden will revert to the buyer. What buyer will agree to pay for a sewer line inspection much less any repairs on a short sale? This will only continue to keep downward pressure on prices of homes in Tacoma. I realize that having broken sewer pipes is not an ideal situation however, in our current economic situation many buyers are not willing to take on one more burden even if the home is what they are looking for.

I hope the City of Tacoma will come to realize that the side sewer ordinance while logical on many levels is going to be a burden both on prospective home buyers in Tacoma but on home sellers and the City itself. It is time to flush the side sewer ordinance.

Posted in Buying a Home, Ramblings, Selling a Home, Tacoma | No Responses »

Tacoma Side Sewers a Bedtime Story

Tuesday, July 20th, 2010

Effective October 1st. 2010 the City of Tacoma will begin to require a side sewer inspection for all homes sold in the city limits of Tacoma. It is only July why do you care? Why do I care? Let me tell you a little story….

I have a client who is getting ready to bring a home on the market. The home is part of an estate so very little is known about the home. My seller is a very thoughtful person and wants to make sure that the basic systems in the house are functioning as they should be. She called a company that was offering a free sewer line inspection. Free as long as there is an easily accessible clean out opening. Free as long as you do not want the DVD of the inspection. (The city of Tacoma requires the DVD to review the inspection) Almost $500 dollars later my seller is told that the side sewer is in need of repair. Almost $8,000 worth of repair. My seller is collecting additional bids and will have the work completed as she feels it is important. Now that we know the sewer line is broken it is material fact so this is a good thing to have done.

Here are some take away items from this little story.

Side sewer inspections will be expensive for the seller to have done
Sewer repairs are not going to be inexpensive to have repaired.
Waiting until the last minute will cause your home sale to take longer to close.
Buyers will be nervous that if the sewer line is broken what else is?
Lenders are going to be requiring the work to be completed and then they will most likely want to make sure the work is done prior to releasing the funds.
In Tacoma we now have another hurdle to get over to close on sales.

I am leaving out short sales, and REO’s. Who will pay for this if there is no money to pay for the inspection or repairs?

Just helping get you ready for buying and selling homes in Tacoma. Being prepared will help you make the best decisions. Get things taken care of prior to bringing your home on the market. Buyers knowledge is power too!

When you are ready to buy or sell a home in Tacoma please give me a call. Together we can put together a plan to help insure the success of your purchase or sale. I can be reached at (253) 219-1194

Posted in Buying a Home, Selling a Home, Tacoma | 2 Responses »

Tacoma Home Sellers Are You Ready to Have Your Side Sewer Inspected?

Wednesday, July 7th, 2010

Selling a home in Tacoma will get a bit more involved starting October 1st. 2010. Homes within the city limits of Tacoma will have to have their side sewers inspected prior to sale of the home.

As the ordinance is currently structured the inspection is simply to inform the buyer of the condition of the sewer line. No repairs will be required by the City of Tacoma. The sewer inspection will need to be conducted by a licensed sewer contractor with a business license in the City of Tacoma. The cost of the sewer inspection will vary by vendor. The City of Tacoma will not charge for their review of the video inspection. The

Directly from the City of Tacoma’s website

As of Oct. 1, 2010, Tacoma property owners are required to have a certified inspection of their private side sewers and other sources of inflow and infiltration prior to the sale or transfer of a home or business, major remodeling or any construction over an existing side sewer. This requirement is detailed in Tacoma Municipal Code 12.08.720, titled “Inflow and Infiltration Removal from Private Side Sewers.”

The inspection requires a video camera inspection of the sewer line. The DVD of the inspection will be given to the City of Tacoma for review. The city will then allow the property to be sold.

Here are some observations about the side sewer inspection and how it will impact home sales in Tacoma.

Sellers will now have another inspection to handle during the sales process. The seller will be asked to cover the cost of the inspection.
While repairs are not required by the City of Tacoma lenders will most certainly require any known defects to be repaired. Buyers will also be asking for repairs. This will cost will impact the bottom line of the seller.
It will take longer for a transaction close. The additional inspection and potential repairs will take more time than the current home inspection.

If you will be selling your home in Tacoma I would advise you to work with a reputable sewer company and have your side sewer inspected and

Tacoma Home Owners Lets Hope Your Sewer Pipes Dont Look Like This

repaired before you put your home on the market. An inspection is good for 5 years so having an inspection conducted prior to putting your home on the market will make your home just a bit more of a known commodity. Nobody wants a surprise like a defective sewer to stop a home sale. By being prepared and organized you will be able to sell your home for more money, with less stress in a shorter period of time.

If you want more information on how to sell your home in Tacoma please use the contact form on the right of the screen. I will send you some additional information that will help you get your home ready for sale. When you are ready to discuss what your house is worth please call me directly at (253) 219–1194. Working together we will get your Tacoma area home sold!

Posted in Selling a Home, Tacoma | No Responses »

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