What should you expect with your home inspection? We’ll also talk about how you overcome a location objection from buyers looking at your home.

Full Transcript

00:01                                 Everybody and welcome to today’s show I’ve asked the Colorado Dreamhouse team I’m your host Dan Palladino coming to you live from Denver Colorado hope your week’s been. Going great and you’re out there enjoying the fall in Colorado. This is going to be one of the best weekends to get out and take a look at the aspens and all the different leaf colors and if you’re back east I think from talking to my family you still got a couple more weeks to go but it’s starting to look pretty good. So get out there and enjoy the fall colors. If you’re new to the show welcome. This is all about real estate. We help you buy sell invest in strategize the real estate market. You don’t have to be in Denver Colorado. It works. This advice works in any part of the country.

00:42                                 As always we would love it if you would leave comments and ask questions. It just makes the show so much better so you can leave your questions and comments right here on Facebook. You can e-mail us or you can call us at 7 2 0 4 4 6 6 3 2 5. All right. So two things we like to accomplish in every show we like to give you a little market information and we like to answer your questions so let’s get to the market information. First off we here at the Colorado Dreamhouse team have 5 properties coming on in the next eight days. All right. So again just like we had been talking about in August met with a lot of people a lot of people wanted to get their home on the market here in the fall and see if they could get it sold before the holidays.

01:29                                 And we’ve been rushing to get these properties to market. So if you’re a buyer out there and you haven’t been finding what you want call us we might have one of these new listings that we’re putting on in the next eight days may be the perfect fit for you. So call us at the color on a Dream House team and let us tell you what we’ve got coming to market. All right. That’s number one. Number two I was in a discussion with some friends today called you pay either way. Right. And it was really about fixing up your house and trying to update your house and keep your house up to date with the trends. And my wife and I back in 2012 got on a plane. I put us on a plan.

02:11                                 I said we’re going to do roughly two maybe three updates to the house a year for the next five years. So that somewhere at the end of five years we had about 10 or 15 different projects done and it included everything from something as simple as changing the hardware and the light fixtures in the house to remodeling the kitchen remodeling all of the bathrooms with up to date granite quartz tile to new flooring inside paint outside paint to even a big job which was replacing all of the windows in the house finishing the basement. We had a really long list and the priority was really based on money. Right. Cash flow. How we were doing. But buying it off in little bits like two projects a year for five years really made a big difference. And here we are six years later and the house is completely updated.

03:13                                 I mean if I tried to find something to fix change pain or upgrade I couldn’t and my wife Jennifer would kill me if I did. But everything is fixed and done and ready to go. So we if we decide to sell can get that premium price. Now some people will say you know what I I’m just not into that. I’m not going to fix up my house I’m not going to do updates. It’s not you know we don’t like doing that type of stuff. I’d just rather save my money. However you are going to get a much lower price for your house. Let’s take my street as an example my house. I know what that appraised for which was a premium price and then my neighbor’s house was for sale and my neighbor got about$60000 less than I would have gotten for my house and it was mostly because they had never done any updates the whole time that they had lived there which is fine.

04:08                                 That’s certainly your choice. But you’re going to pay one way or the other because somebody would say well dad look at all that money you put into the house you could have had that in your pocket. True but on the flip side when you go to sell you’re going to get a lower price. So you either pay up front by improving your house and getting a higher price you sell or you don’t pay upfront and improve your house and you get a lower price when you sell. Either way you’re paid and that was the title of this segment. Either way you pay. All right. Dear Colorado dream house team. What type of inspection items would you consider normal to find when doing a home inspection. Yeah that’s a great question.

04:52                                 We see kind of the same stuff over and over again. Come up in inspection objections. Almost every inspector comes back and says recommend that you clean service and certify DHV a C right. There are not HUAC experts. They want to cover their butt. So they put in the inspection recommend that you have an HP A C professional come out take a look and make sure it’s in good working order. See that a lot. In Colorado we have radon gas in our soil and so radon is a big thing in Colorado. You can read about it online. Many people believe that it could be a cause of cancer. It’s a odorless gas. And so a lot of times we’ll have homes being tested for radon levels and so we’ll see that come up a lot in inspection items that a particular home has a high rate on level.

05:45                                 We’ll see some things about caulking around windows we’ll see things about cracked sidewalks. We’ll see things about roof every once in a while we’ll see some minor plumbing things. And you know not really too much electrical issues unless it’s a really really old house. But

06:02                                 these are all very common that we see week in and week out and inspection report. So if it hits your inspection report don’t panic. It’s normal. Remember the home inspector is getting paid to find something right. They almost have to find something wrong. I tell all of our buyers when you do your inspection today he is going to find something wrong. So don’t panic. All right. We just got to figure out if it’s major or minor major structural. Whole other show. OK. The Colorado dream house team. Would you advise us to speak with a real estate agent now even if we’re thinking about listing our home. Not until the spring of answer. Absolutely. It’s never too late to start interviewing people for the job right. I mean you may have gotten a referral from somebody. You may have heard about us or someone else.

06:55                                 It’s a great idea to get an idea of what it’s going to take to get your home sold and prepped and ready to be on the market come that third week of March. Right. I’ll tell you what we’re doing here at the Colorado dream house team. If there are people who are thinking about putting their home on in March we’re going ahead and doing a listing agreement now. And we’re doing all the photography. Now why would we be doing all the photography now. Because it still looks pretty it’s still green. There still leaves on the trees. There’s still flowers in the yard. And so we’re getting all of the pictures done now. We’re putting them in our bank so to speak here at the office. And then when we come on the market in March we come on with beautiful green pictures.

07:38                                 Right. Because in March there are no leaves on the trees. There’s still snow on the ground right. But we don’t we take our photography now and bank it for later. If that sounds like a good option for you give us a call here at the Colorado Dream House team dear Colorado Dreamhouse team how do you overcome an objection from a buyer about your location. Well you can pick up and move the house. So the answer to that is in the history of real estate the only way to overcome a location objection is price. You may back to a busy road. You may be back to power lines. You may be back to something that’s unsightly. You may back to whatever. A railroad not too far away. You’re going to have to compensate in price and the question always comes up which is well how much.

08:28                                 And that is not an easy answer. What you’ve got to do is you’ve got to find that sweet spot and that sweet spot is where you’re not leaving too much money on the table. Right. And it’s still compelling enough for a buyer to walk in and say I know it backs to a busy road but at this price I can’t pass it up. Right. That’s that sweet spot that we’re going to try to find so we may inch the price down to try to find that sweet spot where it’s so compelling that it makes somebody right an offer. OK. I hope that’s helpful. Couple of things don’t forget about our 250 marketing guarantee. What does that basically say it says that our marketing here at the Colorado Dreamhouse team is better than all of our competition.

09:13                                 And if it’s not we’ll pay 250 bucks. It’s that simple. You want more details about that. Go to our Web site. Colorado Dreamhouse dot com forward slash to. All right everybody have a great weekend. Enjoy the fall. I’ll talk to you again on Tuesday.