Tenant Sabotage

Only in this hot Louisville market, where buyers are hovering over a dearth of inventory, could an owner expect to sell a home in the condition that this one was in when I entered with my clients a few days ago.

I don't think we even noticed the other "appliances."

The smell of pot and dog pee accosted us as we entered the front door.  There were dirty clothes and empty food containers on every surface.  Mud was streaked across the front hall tile, and someone's lunch was ripening on the coffee table.  It only got worse the further in we went, and my clients, who normally see the potential in houses they don't even care for, were in and out in five minutes trying not to gag.  We declined to even open the two closed bedroom doors at the top of the stairs, a little worried about what might jump out at us.

It can be tough to keep a house in showing condition all the time, especially with children or pets in residence.  Even tougher sometimes is to get a tenant to cooperate with the owner's wishes, especially if the tenant is not thrilled about having to terminate the lease.  However, landlords can offer incentives to tenants to keep the home looking good, and I think it's money well-spent.  Even in this time of anxious buyers and multiple-offers, it's hard to overlook some things.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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1024 Turnberry Circle FOR SALE!

 

Looking for a great property in Louisville?
Check out this fantastic 2-story home in Coal Creek Ranch!

3209 total and finished square feet

5 bedrooms, 4 baths

2 car attached garage

Formal living and dining rooms

Eat-in kitchen

Family room with fireplace

Rec room and studio

Professionally finished basement with cast iron gas heater and wet bar

New hardwood floors

Backyard deck

Foothills view from upper bedrooms

Great neighborhood amenities including clubhouse, tennis courts and pool

Monarch schools

Home warranty included

$487,000

Open House Saturday, February 23, 1-3pm

 If you miss the open house, call me - it won't last long!

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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Paying It Forward

Those of you that personally know me and my husband, Dennis, know that community is important to us.  Dennis strives to make his martial arts school, Saeng Myong Martial Arts, an inclusive, accepting environment where all feel comfortable to train, ask questions, and reach out to others.  Five years ago, a couple of our students started the Gratitude Through Giving Scholarship Fund at the do jang.  Over the years, many young people have benefited from the generosity and caring of our student community that sustains the fund.

When I started my real estate business, it was important to me to find ways to give back to the people who trust me with their transactions and the community that allows my business to grow.  I donate 5% of my gross commission to local non-profits, and my clients get to select the charity that benefits.  Some of the recent recipients include Broomfield FISH, the Colorado Autism Society and Toys for Tots.

I believe in demonstrating that we value a person or service by putting in time, effort and resources to whatever degree we are capable.  Thank you to my clients, friends and family who have shown me that they care and believe in me through their business, referrals and love.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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Every Picture Tells a Story

We've all heard the phrase, "a picture is worth a thousand words."  Truly, pictures are a universal language, conveying thoughts and emotions without the need for translation.  They can grab our attention, evoke feelings and even inspire us into action.  If they weren't so powerful and effective, corporations around the globe would never spend so much money on their advertising.

As a Colorado real estate agent, I am bound by the rules of the Real Estate Commission, which state that I am not to disparage my fellow agents.  Even if I did not take an oath of ethical behavior to become a Realtor, I would still abide by these rules.  It's just the right thing to do, not to mention how unbecoming it is to trash-talk your colleagues.  So in the spirit of public education, I will just speak in generalities.

Most folks start their home seaches on the internet these days, utilizing sites like Zillow and Trulia.  The first thing they see are photographs of homes for sale, so it's hugely important that the pictures be good quality - more than good, they should be outstanding.  If that first photograph is poor, often the buyer won't even bother to click on a link to see more pictures.  If they do, and all of the other photographs make the property look dumpy, they won't pursue it.

Unless that worker is stuck in the concrete, perhaps there's a better time to take the picture? Good photographers will take pictures at the best time of day for the direction the home is facing.

I am astounded by the number of horrible photographs I continue to see in listings everyday.  It's more than just a couple - its epidemic.  I often wonder how it is that the sellers don't fire their agents, or at least insist they hire a professional photographer to come back and redo the photos.  When I see underexposed and out-of-focus photographs, when no one bothered to pick up the underwear in the middle of the floor, or when there are no accompanying pictures at all, I know that agent is neglecting his duty to his client. 

Proper exposure and composition can make a room go from depressing to inviting.  Most people's rooms don't look like model homes, but there is still a lot an expert can do to maximize what's there.

Maybe that sounds trivial, but it's not.  A seller can spend thousands of dollars readying her home for the market and paying professionals to get it sold - shouldn't she have confidence that her agent is going to do more than spend 5 minutes taking pictures with his phone?  Listing photos should present the property in its absolute best light.  They should be bright, sharp, well-composed, and make the viewer want to see more.  I think these photos speak for themselves (I know, I know, I went and added captions, anyway)!

Maybe the camera had a BluBlocker lens on?  If you can't get a good perspective like the photo on the right, perhaps it's better to not include one at all!

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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The Stunted Inventory Blues

Last year, we starting to see multiple offer situations in Louisville, with good properties priced well going under contract in a matter of days.  This followed a swift uptake in activity last January, with anxious buyers looking to take advantage of low interest rates but frustrated by low inventory.  According to the Colorado Association of Realtors Quarterly Market Statistics Report, while more homes sold in the last quarter of 2012 than the same time the previous year, new listings decreased in most parts of the state.  Nationally, inventory at the end of 2012 was more than 21% lower than 2011.

2013 has begun similarly, with buyers who want to purchase still being thwarted by inventory levels.  A typical, healthy market has 5-7 months of inventory; Boulder County is currently at about 3.4.  I've spent quite a bit of time lately seeking out  homeowners who tried to sell in recent years but gave up for various reasons to see if they would be willing to consider selling to my buyers this spring.  I've had some success, but not enough to take care of everyone who needs it, especially those looking to buy in Louisville specifically.

Why the low inventory?  There are several reasons, none of which will be overcome quickly.  Some homeowners are still underwater, meaning they owe more than their house is currently worth.  Unless they have to sell, due to a job change, for instance, these sellers will likely wait until home prices go up.  Unfortunately, if they wait too long they may see their pool of buyers reduced by rising interest rates.

Gentleman, start your engines!

New construction is down.  Housing starts have been at record lows the past few years, but finally saw movement in December, increasing 12% nationwide.  Still, there's an obvious lag time for new construction, and not every development is created the same - many are pushing out into more rural areas.  There is still a lot of demand for more established neighborhoods and downtown areas with walkability, mature landscaping and public transportation hubs.

Banks are implementing new rules when it comes to processing foreclosures, stretching out the timelines for these properties to come back on the market.  Some areas are also seeing an increase in loan modifications, which is good news for the homeowners but again affects the numbers.  Investors are still finding great deals among the short sales and foreclosures and picking them up before some buyers may be able to get their financing in order.  With higher rental rates, many are choosing to keep the properties as rentals instead of flipping them in the short term.

If you happen to be a renter these days and have good credit, you may want to have a conversation with a lender to see if you can qualify to buy instead.  You may be surprised, but you'll want to act soon; small supply will drive housing prices up, and rising interest rates can significantly affect your ability to buy.

image:  RiverRatt3

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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What You Don't Know Could Hurt You

One of the important milestones during the process of buying a home is the inspection period.  I always recommend a professional inspection by a certified, trusted Inspector, even though Colorado does not require inspectors to be licensed to operate a business.  Don't rely on a once-over from your Uncle Al who's been a handyman for decades; a good Inspector has special expertise and tools to help him evaluate the structure and systems, and can recommend other inspections that may be needed, like sewer scoping, structural or asbestos.

Another tool for helping evaluate a home is the Seller's Property Disclosure.  This document is filled out by the sellers, and relates everything they know about the property to date, from roof leaks to code violations, from pest problems to appliance functionality.  It is not required to transfer the property, but it is always recommended.  Buyers will expect to receive this document, and sellers refusing to fill it out will raise eyebrows.  In addition, it can help jog a seller's memory about past problems or repairs that they may unintentionally neglect to mention.  While they are not legally required to fill out the SPD, they are required to disclose material facts about the property, and not doing so may result in big legal trouble down the line should something serious go wrong for the new homeowners.

Would you know if your roof was in need of repair?

Depending on your situation as a seller, you may want to consider having your house inspected and pre-certified even before listing your home for sale.  For a few hundred dollars, you can discover any issues that are likely to come up when the buyers do their inspection and address them right away.  You will be able to decide for yourself whether to repair or replace an item, and select the service provider on your own.  In many cases, it will be less expensive to take care of issues up front than to allow a buyer to use them to negotiate a discount on the asking price later.  This does not guarantee that another inspector won't find other issues, but at least you know that the big items such as the roof or furnace are in good shape.

There are companies that will do an inspection and then certify the home with a home warranty.  This can be just the thing to give a buyer some peace of mind for the near future.  Home warranties start around $300 for about a year, and there are several different packages covering a variety of items and systems in the home.  Offering a home warranty in your listing tells buyers that you are good about maintenance and sets a positive tone for negotiations.

One thing to note about getting the home pre-inspected.  Once you are aware of material facts about the property, you are required to disclose them to potential buyers.  If you find that there is some settling happening due to improper drainage, or that the furnace is on its last legs, you have to tell whether or not you plan on rectifying the issue.  However, it's likely going to come up at some point anyway, so I always advocate for being the first to know.

image:  Dana Dean Roofing Company

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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The Homebuying Process: Step 5

Congratulations!  The underwriter for your loan has given you the clear to close.  The loan packet has been sent to the title company, who is preparing closing documents for review and signatures.  Your last few tasks are at hand.

It's a good idea to schedule a final walk-through of the property as close as you can before closing.  This ensures that the property is in the same condition as it was when you signed the purchase agreement.  If something unexpected has happened, like a water heater leak or a large branch falling on the roof, the issue can be dealt with before closing.  If it's not an emergency or something that would affect the financing, sometimes a credit can be given at closing from the seller to the buyer to have it repaired afterwards.

Likely there has already been discussion around a closing time and place.  Your Realtor should have given you directions to closing, and instructed you to bring your driver's license as photo ID is required.  The title company will have sent a settlement statement outlining all of the charges and credits for your transaction, and you should know how much money, if any, you will need to bring to closing.  Depending on the amount, the title company may require a wire transfer instead of a certified check from the bank; ask the title company for wiring instructions.

 Nothing left to do now except show up and sign!  Try not to be overwhelmed by the large stack of paperwork; often there are duplicates and triplicates of documents that need original signatures.  Also, your Closer will walk you through and explain the purpose of every document you are signing.  Don't be afraid to slow down and read through anything you don't understand - this is a big deal, and everyone will wait until you are satisfied with answers to your questions.

It's a great feeling to get those keys handed to you.  Sometimes the process has hiccups, but if you've made good choices with the professionals you've hired, most things are easily remedied.  2013 would be a great year to become a Homeowner!   
 

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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