Category Archives: Stupid Real Estate Questions – AKA: What are the questions you think you should know but have never asked?
I’ve always known/believed that homes in Charlottesville (and more real estate markets) close at the end of the month … But I’ve never looked at the numbers until now. Because I had to look at each day individually as there’s no automatic report, I chose June 2011 as a representative month.
Simply put, a buyer has to bring a little bit less cash to closing if you close at the end of the month.
When you close on a home, you’re required to prepay any interest that will accrue on
Why do I like my buyer clients to have home inspections in the rain?
Simple: because you get to see how the house actually lives.
Video after the jump. Continue reading
Every real estate market is different; this one has brought more pre-offer inspections than I have ever seen (in part because I’m more comfortable suggesting them to my buyer clients). … The home inspection negotiation is often the most emotional, vindictive, painful and difficult periods of the negotiation; a pre-offer inspection removes phase. … Risks : – Even in this market, homes are selling; some are selling with multiple offers and buyers can lose properties if they opt for the pre-offer inspection path – Some sellers don’t want to allow these; they want assurances that a buyer is really committed before allowing a home inspection. … One must evaluate all factors involved, some of which are the buyers, the sellers, the buyers’ agent, the sellers’ agent, the respective companies, the days on market, market activity to name a few … Continue reading
“When Do Homes Come on the Market in Charlottesville?” is one of the most common questions I get.
Using the data from 2010 for the Charlottesville MSA*, it’s clear that homes come on the market in the early part of the year.
There’s no question that inhaling a lot of radon is bad for you, but some scientists think such statements could use a little context. … … The huge difference in risk is because smoking and radon appear to have a powerful synergy when it comes to lung cancer.
…”If you want to reduce the number of radon-induced lung cancer deaths in the country, one thing you could do is reduce radon for everybody,” he says. “A better thing would be to reduce radon just for the smokers maybe, because they’re the ones with the largest risk from radon. Continue reading
Lesson learned – work with someone who knows the people involved, who can make things happen (ethically and legally) and who can foresee issues. Knowing the people – one of the main reasons I strongly advise working with local lenders . As a buyer, there is quite a lot that happens behind the scenes of your loan. “Meet” a few of those people: – The Processor. – The Appraiser. – The Underwriter. – The Loan Officer. – The Closing Department. (in Charlottesville, that’s the attorney or closing company ) Continue reading
Big thanks to Tim Kelsey with Boyle, Bain, Reback and Slayton in Charlottesville for dropping some title insurance knowledge and advice. I tell my clients that title insurance may seem to be worthless, but … if you end up having a claim against your property, the cost of title insurance will be far outweighed by the cost of hiring an attorney. Continue reading