Ten Things I Learned in 2012
- Disclosure is a SELLER’S best friend. A St. Charles County family was awarded $472,000 after suing the former owners of their home for failure to disclose a brown recluse infestation.
- SELLER’S remorse does exist and it is pretty expensive. Per the SLAR “Residential Sale Contract” buyers have several opportunities to mutually release from a contract while performing their due diligence. However, once a seller accepts a contract, that’s it. If they decide they don’t want to sell, they can be sued for non-performance.
- What often sounds like old news to me is front page material for some clients: Buyer Representation is essentially paid for by the seller! Additionally, tax abatement can save you up to $150-$200 on your monthly payment. Which means you can shop in a higher price range and keep your monthly costs the same.
- SHORT sales are anything but short, and closing one is a gamble. Closing two back-to-back in a move-up buyer situation is a MIRACLE. But it can be done.
- On a 4-star rating system Zillow only gives itself 1 star regarding its Zestimate for homes in St. Louis. There are much better resources for finding the value of a home.
- Multiple Offer situations are back! Seller’s Market? Maybe not. But an appropriately priced clean, well updated and nicely appointed home in a desirable location will get A LOT of attention.
- In terms of helping my clients understand the market whether on the buying or selling side of things, my undergraduate in Education is just as valuable as my Master’s degree in Urban Planning and Real Estate Development.
- Non-owner occupant rehabber financing is back and that means we are going to start seeing certain neighborhoods take off again.
- The perfect house exists but it’s just in someone else’s price range. Whether you are shopping in the 100k price range or are closer to the million dollar mark, the available housing stock will not live up to your every expectation. Inevitably you will wish House A’s floor plan had House B’s kitchen. But, with a little patience and fair amount of looking you will find the right place to call home.
- Toting your sweet baby girl to an inspection can really soften up a city inspector.