Every now and then I find some really good MUSIC (yeah the actually talented folks still put out some stuff and it’s not likely to be playing on your radio) and I wanted to share the music of Imogen Heap with you in case you’ve never heard of her.

Official Website :: www.imogenheap.com

On YouTube :: http://www.youtube.com/watch?v=TA8tlbIINgo&feature=related

(If you skip ahead or at least listen until about the 3:10 second mark you may realize you’ve heard her work used in many remixed songs out recently – “What You Say” being the most popular.)

Hope you enjoy! And, if you have others you’d like to share with me just send them to me in an email or post them below.  I appreciate your feedback!

I continually run into the same situation with almost every transaction that crosses my desk … and that is -

How to BEST handle the negotiations for NECESSARY repairs/replacements of items found to be improperly functioning on the General Home Inspection.

*I will plant a seed here to inform you that every transaction will be different, so this is not to be taken as a “How-To” for every single transaction you are involved in … but it should hold true for almost 95%+ of the time.*

Once you’ve reached an agreement on purchase price and terms in your offer to purchase and contract agreement and you’ve hired the appropriate inspectors to evaluate and report on the property you have under contract – you’ll surely have a few (possibly many) items that will be in need of repair/replacement and you will have a couple options/paths to take in order to come to an agreement with the buyer or seller depending on your status in the transaction.

• One commonly used option is for buyer to ask seller to repair/replace all improperly functioning items found on the inspections that are in need of Immediate Attention in order to fulfill the agreement reached in the offer to purchase contract as outlined in the inspections section.  There are very specific items outlined in the inspections section of the offer to purchase that can actually be asked to be remedied by the seller by buyers if choosing this route as a protection for the buyer in the transaction.  (These items are different in every state I’m sure and will need to be verified with your agent or attorney in order to know which apply in your area.)  If utilized and negotiated correctly, this option will allow for buyer to have needed repairs made to the property PRIOR to closing on the property (which is nice) – but may be time consuming and could cause delays in the scheduled closing date if the work isn’t completed in a timely manner that fits into the dates outlined on the offer to purchase and contract.

• Another commonly used option (also my favorite & the least time-consuming & generally BEST overall for everyone in the transaction as I’ve found) is to place a dollar figure on the deemed NECESSARY repairs and have buyer ask seller to Credit or Make an Allowance in this amount off the original purchase price at closing to reach an agreement.  There are a few reasons this option generally works out the BEST OVERALL and the two primary reasons I like this option for both my buyer and seller clients are ::

• • (1) It takes less time to complete and likely won’t delay the closing date if repairs and re-inspections can’t be completed on time; which is a real delight because having to make last minute changes to the closing date will affect everything from the lender’s closing documents to the scheduling of utilities and moving companies after closing and everything in between.  In my experience, anything you can do to keep closing on track as you originally planned for and have been working towards with all parties is a blessing in disguise and should be highly sought-after.
  • (2) The buyer can then take the allowance/credited money off the original purchase price and select their own professional tradesmen to complete the work as they see appropriate and on their own schedule after closing and before they move in.  There is nowhere in the offer to purchase and contract or the repair request agreement that are the standard forms used as guidelines for this type of situation that state the seller must hire LICENSED or even PROFESSIONAL tradesmen to complete the work asked for by the buyers if they chose option outlined in # 1 above.  The work is stated in the contracts to be done in a PROFESSIONAL and WORKMANLIKE MANNER,  but does not dictate who completes the work in general.  The seller even has the option to complete the work themselves if they should choose.  (Please note that if certain issues/items such as pulling new electrical wires in the house or re-building a deck on the house, etc are required to be permitted with the county building inspections office and someone other than the seller is hired to do the work then there will likely need to be a licensed tradesmen completing the work as dictated by local building code regulations – not by the terms of the contract.)  This is the BEST option in my opinion because the buyer can choose who they want doing the work and when it best fits into their schedule in order to make sure they are completely happy with the work being done and this is a win-win for not just the buyer, but for the seller, real estate agent, inspector, attorney, lender, etc.

I have many stories that I can share with you about effectively and efficiently negotiating inspection repair items if you’re interested, but I did want to share these tips on negotiating repairs after inspections to hopefully open you up to seeing that there are more options that what might meet the eye and selecting the BEST solution/compromise is often not a science – but more of an art in which an experienced and seasoned Realtor can assist you with during your transaction.

Lately I’ve been asking myself (and everyone I know) what they think makes a” GREAT Real Estate Broker”… Great?

I’ve heard some funny responses like : Fancy clothes & expensive cars.  I’ve also heard some responses related to how many people the broker knows or what connections they’ve made over the years.  And of course I’ve heard levels of productivity from the previous year thrown in the mix, but I don’t think these responses were exactly what I was looking for.

These responses were more appropriate for the question of “What are some characteristics of Highly Successful Real Estate Brokers?”  But, after a long and thought out couple of days of asking myself this question, I realized that what makes GREAT Brokers Great is …

…their ability to determine what their clients problems are and then provide simple, straightforward and effective solutions to those problems.

It’s that simple.  If a broker can become efficient at determining the problems of their clients and then become even better at helping them solve their problems in an acceptable manner – then the rest is history.  The contacts & referrals will begin to flow in and the productivity levels WILL rise.  I guess the fancy clothes and expensive cars are a personal choice of some, but the brokers will succeed more if they adapt their role as a real estate broker into that of a coveted consultant that can solve problems versus the traditional role as “order taker” or “salesman”.

If you’ve got a problem that’s causing you to re-think your current real estate situation – whether at home with a growing family or at the office with a need to downsize into a smaller workspace – give me a call and we’ll discuss your overall situation and determine what your most important goals and objectives are and develop a strategy for accomplishing your goals and solving your current problems.

Charles Burgess

[mobile] 828.429.9382

[email] info@atHomewithChuck.com

Great News :: The government said Monday, July 27, New U.S. home sales rose by the largest amount in nearly nine years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades.

For more statistics related to this most recent post and to learn why chief economist David Resler at Nomura Securities says “The worst of the housing recession … is now behind us. We’re turning the corner toward increased activity in housing,” follow this link to the original article. [1]

I love the recent NAR (National Association of Realtors) commercials that show the potential home-buyers sitting on the proverbial “decision-making fence” trying to convince themselves to purchase a home while home prices and interest rates are at such low levels … have you seen them?  If not, check them out here :

The Public Awareness Campaign established by the NAR has been a really creative & eye-opening method to show people that just because the “media moguls” are preaching gloom and doom you don’t have to take to heart their message and miss a great opportunity to improve your future for you and your family.

As the NAR Campaign Summary puts it :: “These days, many families who aspire to become homeowners are taking a “wait-and-see” approach, trying to buy at the “bottom” of the market. The problem with trying to time the market is that you CAN’T time the market. Conditions in many markets today are very favorable for home buyers; housing affordability has improved, and mortgage rates are once again near historic lows.

“Fence Sitters” encourages potential home buyers to make decisions based on family needs and local market conditions rather than being influenced by national reports that have little relevance on an individual level.” [1]

If you are a “Fence Sitter” then make the decision now to pick up the phone and call me at 828.429.9382 and I’ll have an in-depth look at your current overall financial situation in regards to buying a new home and we can analyze your goals and objectives and determine if the time IS RIGHT for you now or if you should get comfortable on your fence.  You have nothing to lose by calling as it costs you absolutely nothing and you could have a whole lot to gain that you’re not even aware of.

If you need a little motivation – view the handful of testimonials that I have on this site (click here) and see for yourself that I have helped many families – from all walks of life – accomplish their specific goals and they are so happy the did so now.  So go ahead, read the testimonials and then call me anytime!

As Spring ramps up and the weather begins to warm, many folks are planning their trips to the beautiful foothills of the Western NC’s Blue Ridge Mountains.  If you’re one of these folks and are curious about what there is to do while here – take a look at the brochure (click here to download) developed by the Rutherford County Tourism Authority (as well as their website: click here) for a nice listing of activities, restaurants, museums, accommodations, etc. for your visit.

If you are also planning on working in a little real estate shopping during your visit and would like to see for yourself some of the “Great Values” you’ve been hearing about in our area on primary homes, log cabins, second or retirement homes, investment properties, lake properties or just a homesite to build a dream home on in the future, please give me a call and I’d be happy to help you determine which areas in our region would best suit what you’re ideally looking for.  In the meantime, you can search through our Featured Properties online at our company’s website, or search the entire MLS for our area here.

Hope to hear from you soon, but if I don’t, enjoy your visit to Western North Carolina!

It’s no question as to whether or not you’ve heard the recent buzz about buying distressed properties as either a Short Sale, Foreclosure or Bank Owned/REO, but do you really know what each of these terms really means?  And, are you educated enough about each to make a decision as to if pursuing a purchase of any would be the best option for you?

There is a lot of misleading, or shall I say, misunderstood information floating around on the various media outlets, especially including the internet and television -  about finding deals in “foreclosures” and “distressed sales”.  Well, sometimes you very well may be able to find a “deal” or good value in a distressed property sale, but you must weigh your current financial situation, along with your overall goals for your real estate purchase and decide if purchasing a distressed property is right for you.

To do this you’ll need to arm yourself with a few pieces of critical information.  I could attempt to re-invent the wheel at this point, but I’ve found a few really good explanations and overviews of these terms & this topic from other folks around the real estate world and at this point I’ll turn it over to them:

Article 1:  click here to read

Article 2: click here to read

Video/Article 3: click here to view

Article 4: click here to view

I hope you all enjoyed learning more about short sales, foreclosures & bank owned (REO’s) properties and the things to keep in mind about each.  If I can relay one important point to you today, let it be this: Do your due diligence very early if you plan on attempting to purchase any of the distressed property types mentioned in this article – whether it be as a short sale working with the seller and the bank, as a foreclosure/trustee sale at the courthouse working with a trustee’s representative or as a bank owned (REO) property working with a bank representative or more often a real estate agent working for the bank now owning the property – know what is required of you in each situation as a potential buyer and don’t let your emotions get the best of you.

Purchasing a distressed property and truly finding a great value for your investment is going to be a very tedious process that takes skill and diligence on your part, as well as the team of professionals surrounding you, such as your Realtor, Attorney, Accountant/CPA, Home Inspector, Appraiser, etc. in order to be successful in the end.  And remember, just because it is deemed to be “distressed” or “foreclosed”, etc. it doesn’t mean it’s going to be a good deal.

Let me ask you this: If you spend 6 to 12 months searching for just the “right property” and in the process spend several hundred dollars on each home you deem as a “potential great deal” for inspections and title searches, etc and you still have no property to show for it in the end, can you honestly say that the time spent and the potential deals you passed up that weren’t labeled “foreclosure” or “short sale” or “Bank Owned (REO)” were worth it?

I personally think the best deals are found by thoroughly doing your research of property values in areas you find desirable and then keeping a very close eye on properties that become available thru professionals such as Realtors and Auctioneers who are required to ethically & responsibly represent a property and all parties involved in a transaction.  If you have cash to spend or if you’ve completely applied for a mortgage with a lender and received a Conditional Pre-Approval (not a Pre-Qualification as this isn’t as strong as a Pre-Approval b/c they don’t make you provide W2 statements or tax returns and bank statements and income stubs, etc when applying to verify your financial situation) you’ll be in a good position to make a quick, but informed decision about a property that has just been listed or just had a significant price reduction, etc.  You’ll also very likely be ahead of the rest of the buyers in the market at that time.

This is when you have a good chance of finding a seller who likely has equity built up in the property to the point of where if they are seriously motivated to sell because of a job relocation or perhaps even a job change/loss they will be able to sell below “market value” without approving it with the bank or other third party.  At this time, you’ve found a “good deal” and purchased a home for below market value and if you’re working with professionals, like Realtors, Home Inspectors & Attorneys, etc. -  you can feel comfortable knowing that you can ask for advice along the way and all the way through and beyond closing when you seem to hit an un-foreseen “hiccup” and otherwise wouldn’t know what to do.

I honestly believe you “Get what you Pay for!” and that if you’re committed to purchasing a property for a very good value, then surround yourself with the best professionals you can get your hands on and use every bit of their experience and knowledge to help you determine if your purchase is indeed a good “overall value” for your money & your situation in the end.

PS – If you have questions about anything in the article above or would like to discuss these topics further please contact me and I’ll be happy to help in any way I can.