A few weeks ago, I had a really festive time enjoying a friend's fiftieth birthday party with more than a hundred and fifty of her closest friends, coworkers and relatives, at the Veteran's Hall here in town. These large social gatherings always offer an opportunity to reconnect with people you don't get to see as often as you'd like. High heels on and dressed in party attire, I was ready to dance the night away. (Yes, I've still got it!)
Talking, giggling and holding court with several friends and their respective mates, a girlfriend discreetly leaned over and said, "Um, Julie, I don't know if you meant this to be a fashion statement or not, but your shirt is on inside out." (Or maybe I don't !) Oops! (What was in that soda water anyway?) Mortified, I slunk into the coat closet and quickly made things right, but I'd been wearing my shirt inside out for at least half an hour before someone had the nerve - or the grace - to inform me. (Thank you Dale!) AND to make matters worse, I hadn't even had a cocktail to justify my fashion faux-pas! I suppose that's what comes from hurrying. I had taken a long walk with the dog prior to getting ready and as a result, had found myself with only a few minutes to shower, wash and blow dry my hair, apply make-up and get dressed - all while simultaneously nagging my husband and son to do the same (if not me, then who?). Clearly, fifteen minutes wasn't adequate for the job at hand . . . When I show up at a client's home with a stack of disclosures big enough to rival the Encyclopedia Britannica, sellers frequently want to hurry through this time-consuming task. Having made the decision to sell, they are down to business and are often anxious to get their homes to market as quickly as possible (I can appreciate that) but rushing through these important disclosure documents can only hurt you in the long run. Take it from me, slow down! Designed to protect you from buyers seeking to renegotiate their offer price based on "new discovery" or worse yet, suing you after the close of escrow over "undisclosed information," these seemingly redundant questions about insurance claims, dog noise, water intrusion and how long you were in labor, seem like overkill (they're not). Sellers often ask, "Do I need to mention ___ (fill in the blank) ?" Let me stop you there. If you are asking, you more than likely need to disclosure. Offset pipes? Yes. Backed up drain? Yes. Death in the home? Absolutely! Visiting raccoons? Of course. Visiting mother-in-law? Umm, let me think about it. If it's a material fact, you need to disclose it! Listening to a colleague on the phone explain this to her client, I could hear her frustration as her seller insistently argued with her about a property line dispute he didn't want to include. BIG MISTAKE! While worried he'd be "tainting" his property, he missed the much bigger picture, which was that his conscientious Realtor was trying to protect him from unknowingly stepping on a land mine. Listen up! For your own sake, disclose everything you know or suspect about the property. While it's likely that you won't remember every repair or even know about previous conditions prior to your taking possession, it's hard for fully informed buyers to argue with the truth - especially if their love for the property - or for the seller - has worn off six months down the road. So slow down, take your time and be as thorough as possible. Then check the mirror. You don't want to attract attention for all the WRONG reasons (much like wearing one's shirt inside out). It's so not cool!
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"This is a money call," my son said. (Of course it was, why else do college age kids phone home?). "I need to buy dress shoes." (Okay, I wasn't expecting that.)
A few weeks ago, Case revealed that he'd decided to rush and been accepted into a fraternity (Phi, Kappa, Sigh . . .) Now that he'd been admitted, a makeover was clearly in his future, thus the impromptu phone call home. With dress shoes in hand, can pleated khakis, a sport coat and a tie be far behind? (Probably not.) I suspect this will only be the first of many such "money calls." Still, if it takes a fraternity to elevate my son's sense of style, I will happily support his decision and (less enthusiastically) write the checks. "Less than enthusiastic" is how sellers often feel when they receive the dreaded "money call." Having negotiated and agreed upon price with a willing and qualified buyer, and having waited out the inspection and appraisal periods outlined in the contract with patience and good form, it can often be downright sobering news when buyers ask for - or demand - credits. More unsettling still, is the request for a price reduction in return for closing the transaction. Wait a minute - what just happened here? I thought we had a deal! (Not so fast.) What happened is a shift in power between buyer and seller realities. Not that there aren't popular homes that still attract multiple offers in our marketplace (there are) but the vast majority of listings are taking longer to sell and when they do, negotiating back new discovery is "de riguer." It's the 80/20 rule: 80 % of the pending sales are experiencing aggressive negotiations while 20% are receiving so much attention that the buyers have little room in which to maneuver, which creates an understandable, but very real, disconnect. So where does that leave you? As a general rule, you should absolutely expect some push and pull in today's more conservative marketplace (think Dr. Doolittle) even in the case of multiple offers. Here's the good news - you're in contract (!) and that's news worth celebrating, but don't pop the champagne just yet. Getting from the "accepted offer" stage to the "close of escrow" reality can often be a veritable minefield and regretfully, just slightly less painful than a root canal. (Throb!) These nuanced negotiations are in large part the reason why, Realtors haven't gone the way of the travel agent - or the Dodo bird - nor should they, especially in our more topsy-turvy world. Now more than ever, you absolutely need third-party negotiators to navigate the home buying and selling "waters." This is delicate stuff folks. Not only are we talking numbers, we are often dealing with emotionally charged decisions around the sale as buyers start to "second-guess" their love affair upon receiving an encyclopedic stack of "disclosures" (thump!) while sellers simultaneously begin to feel "insulted" at the microscopic examination their previously "lovely" home is now undergoing (twang!). Of course, the combination is highly volatile. Should we expect anything less? Yes, we should - which is where thoughtfully outlined expectations come into play, as well as the experience of a seasoned agent and a "hands on" local broker (think The GRUBB Co.). With all due respect to the "win-win" school of thought, real estate transactions are often adversarial by nature . . . So here's my list of GREAT Expectations:
So there you have my list of Great Expectations. Please note, you were warned. Got to run, my son is calling . . . I'd better find the checkbook! btw- my favorite response to last week's question"What sign best describes you?" came from a loyal reader who wrote to say that her moniker would have to be "Work In Progress!" That sums up today's market in a nutshell. (I couldn't have said it better myself.) Thanks to all who participated. Quickly zipping through the hills on my way to work the other day, I abruptly slowed down when I came around a corner and I saw a sign that read: "Tree Trimming Ahead." A few blocks later, a second sign warned, "Curves" and at the next intersection, yet another shouted, "STOP!" When you look around, there are signs everywhere guiding us through our busy days and telling us what to do . . . "Sign, sign, everywhere a sign. Blockin' out the scenery, breakin' my
mind . . ." It got me to thinking about how much easier my job would be if my clients and colleagues wore signs as well (Come to think of it, how 'bout my kids?). I'd like to see GIANT capital letters that spelled out exactly who they are and how they operate in the world. Here are a few suggestions: "USE CAUTION," "SPEED BUMPS AHEAD" or "NO TRESPASSING!" (That would certainly clarify the relationships - don't ya think?) Unlike many jobs where one transacts business with the same customers or co-workers day in and day out, Real Estate is a series of primarily short-term projects with new players at every turn. Just as you need to get to know me, I also need to get to know you AND I need to do it relatively quickly. This isn't just true of my clients, it's also true of the other agents I work with, the buyers or sellers they represent, the mortgage bankers and lenders, the appraisers, the title officers, the escrow coordinators, and the like. Other than a few key players on which I often can depend and control, I am frequently meeting many new personalities with each and every transaction. Without bold signs with which to guide me, the trick is managing all these complimentary, competing, or conflicting interests with care - "Yield to oncoming traffic?" "Do this, don't do that - can't you read the signs?" To a large extent, I can successfully read the signs. Directing traffic is part and parcel of the world of Real Estate. To be truly effective, an experienced agent should not only be adept at this skill, but excel in it as well. It begins by asking the right questions: "What are the sellers' motivations?" "What are the buyers'?" "What are their respective time lines?" "How quickly can the lender perform?" (And to the appraiser) "Are you familiar with the area?" "How long have you had your license?" With careful sleuthing and sometimes, unapologetic frankness, I need to accurately read the signs in order to best serve your needs. So speak up and declare your intentions. The more signs you give me, the better off we both are. (It's the clients I don't hear from that I worry about.) Not only are you able to quickly retrieve the answers you desire, but I am more committed to the relationship with each phone call and email we exchange. (Aren't you?) "And the sign said you got to get a membership card to get inside, UH! " To a certain degree that's true. While markets are no longer exclusive thanks to the MLS (Multiple Listing Service) there are still high-end homes that really do require careful client vetting. Despite the undeniable access the INTERNET has now made possible, your position is greatly improved when you connect early and often with an informed agent. (No, not ALL agents are created equal.) "Open for Business? " You betcha. Didn't you see my sign? Trivia time: Who wrote and sang the song, "Signs?" Complimentary lattes from Mulberry's Market to those who answer correctly OR to those who send me back their "sign" (astrological signs don't count). "Can I have approval please? I need approval..." came the plaintive request over the intercom system in CVS last week. I couldn't help but chuckle as I listened to the monotone plea from the uncomfortable cashier and flashed onto the image of Stuart Smalley from Saturday Night Live. His self-reflective monologues always ended with "I'm good enough, I'm smart enough, and dog gone it, people like me." Now that's approval!
In real estate, the need for approval is no less important. Sometimes, the approval one seeks, comes via validation from friends and family in the midst of a Sunday Open. Sometimes it arrives by way of your agent through careful analysis of the numbers. Sometimes, the approval comes during inspections when all is going well. And every once in awhile it arrives along with the moving boxes and the neighborhood welcoming committee. With so much at stake, most buyers don't just crave approval, they need approval before moving happily forward with their purchase. And why shouldn't they? We all feel better knowing that a smart decision was made and our decisions are confirmed when others believe it too! Likewise, Sellers also need approval. When sellers bring their homes to the market, it can be an invasive, gut-wrenching process. Having purged their shelves of old art projects, well-loved books and all manner of collectibles; having patched, painted and staged their home so that it is barely recognizable to them or their kids, and having gardened, cleaned and swept the inside and out so that it's darn near monastic; sellers naturally want their home to be "popular" with the buying public. When it isn't - despite their best attempts - it's a bit like being the kid who wasn't asked to the prom (okay, that kid was me). No matter how much we love our homes, we want to know that other people love them as well. Unlike stock investments one randomly buys and sells, homes are largely emotional statements - for buyer and sellers alike. Still, regardless of how "emotionally compelling" a home presents, it must also feel like a "good value" at the end of the day in order for a qualified buyer to step in. Or to quote the supremely dynamic, Tina Turner, "What's love got to do with it?" The truth is that neighbors, friends and buyers can all "love" your home but if it isn't priced right, the chances of it selling are greatly reduced in our more conservative marketplace. (Sorry!) Having seen a dramatic correction in home values the last few years (even in high-end communities) many buyers feel inclined to exercise restraint in their next home purchase. This is especially true of first-time buyers who come to the table with NO equity from a previous home. Even those who might comfortably afford more, are often buying less expensive homes and who can blame them? More seasoned buyers have experienced first hand the shift in power. So if waiting isn't in your game plan, you will want to list your home with a market value slightly under neighborhood comps. And if you've been on the market for more than two weeks without an offer coming forward, it may be time to reduce your asking price. When your demands meet market expectation, you're likely to get "approval" in spades. "I'm good enough, I'm smart enough, and dog gone it, people like me! We are well into the holiday season, which means that many of us are frantically baking, decorating and going just a wee bit overboard to meet the childhood ideal. Although I voluntarily traded a Christmas tree for a Menorah several years ago, I'm no less immune to tinsel and tidings. Twinkling lights, festive gift wrap and bows, and freshly baked treats, all take me back to warm afternoons spent in my mother's kitchen when the Christmas season was central to my upbringing.
"Chestnuts roasting on an open fire, Jack Frost nipping at your nose . . ." My five siblings and I excitedly crowded around the wooden table with bowls of brightly-dyed icings, multicolored sprinkles and tiny silver balls for decorating our sugary concoctions (Silver bells are you listening?) With Christmas carols playing in the background, we worked like Santa's elves singing, creating, and carefully packaging Christmas tins full of fudge, peanut brittle and smiling gingerbread men, to be delivered to teachers, friends and neighbors alike. It's a family tradition I'd expected to carry on with my own sweet children . . . "Tiny tots with their eyes all aglow . . ." even if Christmas is no longer the star attraction in my own home. Except that I have boys . . . and as it turns out, boys (at least my boys) aren't so interested in baking and decorating cookies. (Eating them, yes - baking them? Uh, not so much). Moreover, stuffing boxes and tagging them with gold-lettered salutations and pretty metallic string doesn't really appeal either (go figure). "Follow me in merry measure . . . While I tell of Yuletide treasure . . ." Not that the boys don't pitch in (with some heavy coercing) it's just that there's far less good cheer and fa-la-la-la-ing along the way. At the risk of stereotyping boys and girls (or men and women for that matter) there is a distinct difference in our respective approaches to these annual festivities. What I think of as 'traditions,' my boys (and my husband) think of as 'chores!" "Deck the halls with boughs of holly, Tis the season to be jolly . . ." (Is it too late to adopt a daughter - or borrow my neighbors'?) The same is true for house hunters as well. Men and women seem to have very different criteria when considering and examining a home. While initially, both genders look at size and location, when it really begins to get serious, women start to hone in on closet space, kitchen and bathroom utility and proximity to schools, while men tend to turn on the water and check the pressure in the pipes (no kidding). "Silent Night, holy night, all is calm, all is bright . . ." Far be it for me to say that one is necessarily better than the other. I just think it's fascinating to note the stark differences. As a general rule, most men don't tend to get excited over hardwood floors and leaded-glass windows, but throw a GIGANTIC flat screen TV, a potential media room, and a 2-car garage into the mix and we are talking a whole new level of interest. Add a backyard with a lawn large enough on which to throw a baseball or kick a soccer ball and it's "Jingle bells, jingle bells, jingle all the way . . ." Okay, I'm quite sure I owe an apology to some of you more refined aesthetic types (Chad, even you must know you're in the minority) but the fact remains that I have shown hundreds of properties and this is invariably the way it goes down. Moreover, I think it's beneficial to the house-hunting process to have differing opinions. Someone should care about the electrical components in the house, the foundation and the roof - it's just that it usually isn't the woman. At least, that's been my experience thus far. Let's face it, men and women often approach home shopping (or any shopping) quite differently and my personal belief is that it improves and rounds out the experience . When it comes to buying a home, two minds are definitely better than one (unless of course, you bring ALL of your friends to chime in). "Up on the housetop reindeer pause, out jumps good ol' Santa Claus . . ." Whatever criteria you use, opinion you seek (or carol you sing) the best outcome is when both parties come to the same conclusion and agree that this home is the 'right choice' for everyone involved. "Wrap it up, We'll take it." "May your days be merry and bright, and may all your 'holidays' be white." Black Friday meant long lines as hoards of bargain hunters shoved and pushed their way through the masses of shoppers vying for "one-day only" deals. Ugh! I don't know who's idea of fun this is, but it sure isn't mine. Consumer optimism aside, I'll probably join the millions online this year just to avoid all that impolite elbowing.
Unless you're a linebacker, what's all the pushing about? Prodding, pushing, pleading - doesn't belong in anyone's tool belt as far as I'm concerned. In fact, the greatest skill I have acquired over the last couple of years (both personally and professionally) has been learning to let go and STOP pushing! Of course, I'm highly motivated to find you a home (let' be clear, sales are how I earn a living and more importantly, I truly believe in the marketplace) but I have also learned to give you permission to pass on a property and to walk away (it isn't my choice, it's yours). I have faith that we will eventually find the home that is right for you and that time will take its course. (For a gal who's big on control, that's no small evolution.) Ironically, I've discovered that the less I push, the more you pull. What I've lost in aggressiveness, I've more than gained in your trust and a new found commitment (and that's a more than equitable trade-off). So if you are expecting me to convince you to buy a home, you may be waiting a very long time. If permission is what you seek - by all means, go forward, you have my blessing. However, if pushing is what's required to take advantage of this opportune Buyer's market, I have to tell you upfront that your chances of finding a home with me, are infintely reduced. Not that I won't be guiding you (I will) or justifying your purchase with strong market analysis (I will) or pointing you towards viable housing options (I will!) but the truth is that with the advent of the Internet, you are just as likely (more likely, in fact) than I am to find the elusive "dream home" that best meets your needs. In short, you have a specific goal in mind and you are best suited to achieve it. Morevover, having now found the "perfect" home, you are more likely to make an offer on it and see it through the close of escrow than you are when I find and present a home for your consideration. Often, when I suggest a property, Buyers feel compelled to search for objections, whereas when you find the home, you are more apt to support your choice. In other words, when the choice is yours, there is nothing to push against; you're swimming with the current - and that's always easier. So if that's the case, why use a Realtor at all? Because truthfully, the best use of my skill set isn't in "finding" you the perfect home (although it's the icing on the cake when I do!). It's in negotiating and securing the home for you once a property comes into play. (One BIG caveat - off-market homes or "pocket listings" as agents often refer to them, will only come to you through a relationship with a REALTOR. So while you can hunt on your own, you won't necessarily know everything that may actually be available to buy. . . think about it.) Where my skills matter most is when I present an offer on your behalf. Negotiating the price, ratifying the purchase agreement, inspecting the property, addressing any financial concerns, renegotiating after inspections, clearing title, following the money, protecting you from future law suits, closing escrow and delivering the property in good order (whew!). These critical steps are all part of a standard transaction. Ironically, the better I perform my duties, the more invisible I tend to be (smooth transactions should be virtually seamless). Go figure. But this kind of attention to detail is where the rubber meets the road. Real estate involves a complicated skill set, but you - the consumer - get to decide who to hire as a project manager to navigate the maze. It's why one's reputation within the real estate community matters. It's why one's experience matters. It's why one's level of professionalism matters . . . There is a difference between a full-time agent and a part-time player. Heck, a four year old can now search the Internet with relative ease but it takes real skill and due diligence to follow through with time-tested results. It isn't about pushing you, it's about guiding you on a journey, hand-in-hand, as we work collaboratively to attain your goals. Leave the pushing to Black Friday shoppers (or professional linebackers) - that's the only time it's likely to prove profitable or to come in handy. Don't you agree? But if it's "pushing" you still crave, here's the best I can do . . . how can I help you? We are a baseball family which mean like many excited Bay Area fans, we're in the thick of it. With the Giants now headed to the World Series, we're watching a lot of baseball these days. (Go Giants!)
Of course, we don't just root for baseball, both our sons have played on teams for years (ranging from mediocre to great) so it's not just love from afar, it's part of our family's culture. Our older son, Case, started in T-ball at four and has now aged out of rec ball (sniff, sniff) but our younger son, Tristan, still joyfully plays both Spring and Fall Ball and my husband, Cliff, has pulled every duty from field prep to coaching. Such is a loving parent's roll. We're not so crazed that we have opted for the traveling team route (those parents are FAR more dedicated) but between the two boys, we have certainly had our share of carpools, weekend tournaments and baseball coaching sessions. When I consider the range of experiences the boys have participated in, it isn't about whether or not the teams have struggled or dominated OR whether they have won or lost - it's more often about the coaching they've encountered along the way. Don't get me wrong, whether professional or volunteer, I certainly appreciate every coach's good intentions. Nobody who commits their time, does it for any other reason than the fact that they love the sport and care. But there are significant differences that overlay the coaching experience (from a mother's point of view) and they have to do with knowledge and inspiration - good intentions really aren't enough. While cluelessly chasing the ball around the field is extremely endearing at four, it's quickly counterproductive much past that age. Understanding where the appropriate play is and developing a winning strategy, makes a significant difference between "mediocre and great." A thinking player and a strategic coach are a formidable team - in sharp contrast to uninspired players and coaches that are simply hoping for the best. You can't just love the game, you have to know it too. Real Estate agents can love the game as well, but to be really effective, your agent also needs to be knowledgeable. Good intentions really aren't enough - it takes action! Top agents tour religiously, analyze the market weekly, and write offers often. They communicate easily, negotiate confidentially, and facilitate sales with regularity. They are available and they are experts in their local market. Moreover, they act with integrity, know their limits and work collaboratively with others. If they need to refer a client out, they do so. In short, they take action! Like coaching, there is a huge difference in the experience a buyer or a seller has with an agent. All agents are not created equal. Which isn't to say that one is necessarily better than the other, but does acknowledge that different styles work for different people. Whether you prefer an analytical, numbers driven agent, or one who is warm and fuzzy (or a combination of the two) you still need an agent that truly understands the game inside and out and can go the full nine innings! (Go Grubb!) So inquire as to your agent's track record and take the time to make a good choice. (You'll be spending a lot of weeks and months together.) Interview him or her, ask lots of questions and decide on a course of action that makes good sense. If the "fit" isn't right, request that your agent refer you to someone else that meets your needs more effectively (we don't want an unsatisfying experience any more than you do). If you think of your agent as a coach, you'll want to align yourself with one that helps inspire you and creates a winning game plan. (When it comes to inspired agents, I think there are fewer better than the team I work with here at The GRUBB Co. www.grubbco.com. How can we help you?) Poor Cliff - my husband didn't know that when he proposed to me, I would eventually be taking our marriage public and chiding him on all manner of topics - virtually on a weekly basis. (For better or worse?) In spite of my good-natured ribbing, Cliff's ego and his sense of humor remain, remarkably intact. Call it grace, call it confidence, it is more likely, that his sanity results from just plain ignorance. (My husband rarely reads my musings and that's a very good thing for both of us!)
Having made Cliff the scapegoat so often, I am now going to balance the scales ever so slightly and brag about my extremely gifted mate for a change of pace. Cliff is headed to the Supreme Court of the United States next week for an oral argument. Yes, THE Supreme Court in Washington D.C. (the BIG Kahuna). This isn't his first time there and I suspect it won't be his last, given the nature of his law practice, but it is the first time our son Tristan, will accompany us to see his dad argue on such a grand scale (our disagreements about household chores notwithstanding). I am supremely proud! Anyone who knows my husband well, won't be surprised that Cliff is exceptionally adept at advocating a point of view, but this easy effortlessness doesn't come without heavy preparation (it's neither easy, nor effortless). He would be the first one to admit that his impromptu responses are usually honed and practiced for weeks and months in advance. In fact, last week he flew to the east coast for a set of mock trials designed to anticipate any and every question the Justices might throw at him when it counts. (There are no 'soft balls' when it comes to the Supreme Court; those exalted few have earned their glorified robes with heavy artillery.) The stakes in Cliff's cases, are quite literally, life and death so anticipating and understanding every possibility is not only necessary, it's critical to the success and to the outcome of the case. Thankfully, Real Estate isn't life and death (although it can feel like it in the moment) but the stakes are HUGE, good preparation is important and anticipation is critical to a successful outcome. Make no mistake, buying or selling a home can be a battlefield, to be sure. Be that as it may, the best arguments, my husband might suggest, are the ones that never need to be made in the first place. As professionally fulfilling as it might be to argue a case in front of the U.S. Supreme Court, Cliff has already won this case in the Ninth Circuit Court below. Having to reaffirm the win in a higher court can potentially result in a reversal, which isn't good news for the clients. Thus, arguing with nine Supreme Court justices is delicate business, indeed! In truth, arguing with anyone is delicate business and rarely ever productive. Whether it's over a price, the value of a property, or the timing, in my experience, heated arguments are rarely a winning recipe. Arguing with your clients, your Broker, or another agent, is likewise, a lose/lose proposition. Being "right" for the sake of being "right" (even when you ARE right) isn't helpful either and typically sends even well-intentioned negotiations sideways. Let's face it, buying or selling a home is emotional enough without fanning the flames of the fire. Of course, it isn't always possible to avoid an argument when working through the finer points of a deal. After all, the buyer and the seller are in a natural conflict from the start. The buyer wants to pay less and the seller wants more (go figure. Of course they do!) These opposing positions are frequently going to create inherent conflict and tension. (It's an interesting dance to say the least.) However, conflict doesn't give any of us a license to misbehave. Still, it's reassuring to remember that both sides of every home purchase seek common ground - transfer of ownership - which should bridge any reasonable divide between opposing sides (the operative word here is "reasonable.") Achieving that goal - with the absence of malice - is always the most prudent course of action (play nice!). So with respect to Real Estate (and life), be principled, be reasonable, be fair and avoid arguments at all costs (you never know when your paths may cross again). Whether or not you ultimately achieve the grand prize of home ownership (winner, winner, chicken dinner!) you are very likely to have a much smoother journey along the way. Instead of an adversarial stance, shoot for supreme justice! Scratch, scratch, scratch. An unfamiliar noise had abruptly woken me from my sleep. There was a deeply disturbing ruckus emanating from inside the wall. Scratch, scratch, scratch . . .
"Cliff - wake up." I urgently whispered; poking my sleeping husband in the ribs. "There's something in the kitchen." "What?" he mumbled, still in a stupor. "Can't you hear that? " I said. "I think it's a mouse - or a rat - or maybe a raccoon." (This uninvited guest was getting bigger by the second.) Silence. "Cliff." (poke, poke) "Cliff! "What do you expect me to do about it?" came the sleepy reply. I was clearly getting nowhere fast. To be fair, my husband was in a deep Vicodin-induced coma, having gone to bed right after dinner with a painful toothache (a root canal was definitely in his impending future). Still, I was stone-cold sober and sleep wasn't returning to me any time soon what with the unwelcome critter gnawing away inside the walls of our home. Scratch, scratch, scratch . . . Whatever it was, the noise was growing more insistent. Scratch, scratch, scratch. "Cliff!" (Snore.) Jeez, who sleeps through a crisis? PLAN B . . . "Buck!" I whispered to my slumbering dog fast asleep on the couch at the foot of our bed. "Buck, come!" (No response. An unfortunate pattern was developing.) "Buck!" Grabbing the bedside flashlight and dragging my poor pooch off the sofa, we tip-toed into the kitchen together, my frightened dog in the unwilling lead. Scratch, scratch, scratch . . . "GRRRRRR." The hair on the back of Buck's spine stood straight up. This was getting downright creepy. Thinking fast, I grabbed a broom from the closet (I needed a gun) turned on the lights and banged on the cupboard doors, hoping to scare the darn thing away away while Buck barked in chorus. That should do it. Scratch, scratch, scratch . . . $%*&I$!!! The only scared occupants were the dog and me and whatever the hell it was, it sounded as if it was building a freakin' timeshare for its relatives (I've heard of carpenter ants, but carpenter rats?) SCRATCH! SCRATCH! SCRATCH! . . . Buck turned tail and took off for the safety of the bedroom. Now it was just me and the rodent. Code red. Time to battle. PLAN C . . . Scouring under the kitchen sink, I pushed aside the Pledge and grabbed the can of Raid, two mouse traps, a box of rat poison and four tar strips and strategically placed them throughout the kitchen, under the stove, on the counter and in the cupboard. This was war. (It takes what it takes.) Sorry PETA, there's a mouse in my house! While I would have liked to resolve this outcome differently, when Plan A doesn't work and Plan B goes by the wayside, you have to regroup and move on to Plan C. In other words, life demands a great deal of flexibility. So does Real Estate. Often a buyer won't get the first house they bid on, nor the second. There is an educational progress that takes place while buyers learn the ropes. Sometimes, this takes losing a few houses before buyers truly understand the process, or frankly, are ready to place a winning bid that outstrips the competition. Sometimes, it is worthwhile to formulate a few positions on a single home, based on the level of interest in the property and on the motivation of the seller. As emotional as buying a home is for buyers, selling a home is often more so from the seller's point of view and it is important to recognize how strongly their emotions and expectations play into the final calculations. For sellers, it is rarely a simple mathematical equation - even when the market might demand it. Is this a family home? How long have they owned it? Did they do work on the house? Is this an inherited property? Where are they headed? Why are they selling? In short, what are the seller's motivations? And how badly do you, the buyer, want the home? Sometimes, it takes what it takes. So look at all your options, make the most of what you have, prepare accordingly, stay flexible and then attack! Or to quote the poet, Ogden Nash from his book, Zoo - "You get a wife, You get a house, Eventually, you get a mouse . . ." That about sums it up, although I might have reversed it to say: You get a wife, you get a mouse, Eventually you'll get a house! It's always satisfying when I bump into clients that have moved into their new homes and are happily settled. Last week, I crossed paths with a young family I recently helped purchase a contemporary "view" home in Montclair. We were all coincidentally dining at the recently opened Grill One here in the village (a good meal at a good value) and I used the opportunity to introduce my husband and younger son (which is a nice switch, as I typically get to know your families during our work together, but you rarely get to know mine - except in The Perspective of course)! Anne laughed when she met my husband and said, " Julie had to talk me down off the ledge a time or two. Buying a house was scarier than getting married. When we got married, we only had one paper to sign - the marriage license! With a house, you're really committed!" (So true! )
That's an accurate assessment. When my dad sold real estate - more than 40 years ago - the purchase offer was only one page and consisted of the price and the terms and the concept of "disclosure" was practically nonexistent. Real estate operated on the premise of "Buyer Beware." It was incumbent upon the buyer to inspect the home and do their "due diligence" before closing escrow. It's a completely different world today. Not that buyers don't still need to perform their "due diligence" - they do! - but they will start off with much more knowledge than buyers of yesteryear. For the uninitiated, here's a rundown of how it works . . . Once you identify a home you desire, I will request a copy of the Disclosure Package which should typically include several pages of "Seller Disclosures" (that's everything the seller knows to be a "material fact" about the house and its neighboring properties); a JCP Report (which outlines the topographical profile of a home and the breakdown of the property taxes); a Homeowners' Guide to Safety (a booklet on earthquake preparedness); Agency Disclosure (who represents whom); an East Bay Disclosure (a 10-page document describing every possible caveat), a Point of Ordinance Disclosure (legal requirements by certain municipalities before close of escrow) etc, etc. etc. (to quote Yule Brenner). As is customary in the greater East Bay, the disclosure package should also include a Homeowner's Inspection, a Pest Inspection, a Sewer Lateral Inspection and in Piedmont; a permit history and sidewalk inspection, as required by the city. Should the reports call any single component of the house into question, you might expect to see an engineering report, a roof report, a soils report, an asbestos report or an electrical bid - as indicated. Finally, if you are pursuing a condominium purchase, the disclosures will also include HOA (Home Owner's Association) documents, CC&R's (Covenants, Codes and Restrictions) Condominium Bylaws, and meeting minutes for the last twelve months. Whew! It's a lot to digest (and you often have only a day or two to process the information before making an offer)! One recent condominium purchase entailed more than 800 pages of disclosures and looked like the white pages of the phone book (remember those?). It took several hours of careful scanning to get through it all (a highlighter works wonders) and still I asked the buyer to hire his own inspector before removing contingencies and moving forward. No matter how thoroughly a property has been inspected, I believe that a well-educated buyer makes for a stronger buyer in the end. You need to know first-hand where the home's gas shutoff valve is, where the sewer clean out lies and where the electrical box is mounted. You need to know the condition of the roof, the foundation, the plumbing, the appliances and the electrical components. You need to know the age and the overall health of the building - all mysteries your inspector will clarify in full. You need to ask questions and thoroughly understand the components of any house on which you are in contract. Agents aren't trained inspectors - no matter how many homes we've seen or sold! Spending a few hundred (or even a few thousand) dollars on inspections may save you many times that amount down the road. Once you find out that the mechanics of the house are in good shape and that the home is stable, you then have the opportunity to make an informed decision. To do so before gathering the pertinent information, makes no sense. So yes, I have talked a client or two (or three) off the ledge when I have sensed it was premature to pull the plug. However, I have also given buyers permission to walk away when inspections revealed bigger expenses than originally suggested. Either way, I am here to provide clarity and support your decision, once the facts are in view. When it comes to a house, I have enough broad experience to confidently give advice. When it comes to marriage, I have only my own limited experience on which to fall back upon (although I happily just celebrated twenty years with Cliff) which is to say I avoid giving advice on love and marriage - even when pressed. That's your business and while marriage only requires one document to execute a union, I know from many friends' experiences that divorce, sadly, requires much more. Buying a house? Complicated? For sure. But it still has a happy ending! How can I help? |
AuthorJulie Gardner, has been writing The Perspective for 18 years and has published more than 750 humorous but always informative, essays on life and real estate. Categories
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