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Tankless Hot Water Heater Blues

January 9, 2017

Tankless Hot Water Heater Blues

I have a tankless hot water heater that I absolutely loved until the other evening when the temperature dropped into the 20’s. People up north are laughing at this I’m sure but here in Ascension Parish we don’t get this cold that often. With that being said my tankless water heater froze and I was panicked that it was going to explode. It didn’t, thank God but I was nervous for several hours.

For those of you that don’t know Ascension Parish is in the lower south area of the state of Louisiana and most new constructed homes with tankless water heaters have them mounted on outside of the home.

I was told to wrap my pipes leading to the water heater and that should prevent it from freezing, which I did but it still froze for several hours and again the next evening. If anyone could tell me what I could do to make this not happen again during the next hard freeze please comment below. Any input would be appreciated to my clients and myself in the future.

What to look for when buying a home.

January 3, 2017

When searching for a home many buyers have a wishlist of items they want. Whether it’s a beautiful kitchen or a spacious yard it’s always something they want that gets them to settle on the home of their dreams. Buyers can get caught up with the bell and whistles of the home and almost dismiss things that can be future problems for them. I’m listing a few things that buyers in Ascension Parish and anywhere you move should look for.

How old is that roof?

This can be one of the biggest expenses of a home. You should always check the property disclosure on how old the roof is and if it has documentation of when the roof was replaced.

How old is the A/C, and when was the last time is was serviced?

I have seen it time and time again. A seller has had an air conditioning unit for the last ten years with no issue but when asked when the last time the air conditioning was serviced they don’t have a response other than to say they have no issues with it. An air conditioning until should be serviced a minimum of once a year to keep it in good operational order making it last for several more years than one that hasn’t been serviced.

What about the foundation?

As you look outside the home I suggest you take a look at the brinks for cracks starting at the bottom and going up the sides of the house. Trees can cause cracks in a foundation and with our weather patterns so can settling. If you are unsure of a particular crack I recommend you hire a structural engineer to look at the slab and give you a detailed report. Typically a home inspector can see these cracks but can’t evaluate if the cracks are a structural problem for the home.

The water heater.

Of all the major components to a home this one is not so hard on your wallet. But an age of a water heater can make a difference in your utility bills. The newest tank-less water heaters are more expensive, but the initial cost outweighs the future expenses, and they have endless hot water which in my house with two girls is a big advantage.

Chimneys?

With newer homes generally they are ventless fireplaces, but with older homes they can be gas or wood burning. If the chimney hasn’t been cleaned in some time it can cause a fire hazard. I would recommend that a seller have the chimney swept and cleaned prior to closing the home. I write that in all my inspection repair requests even if it’s not mentioned in the inspection report.

Always have a professional inspection done on your home so you are aware of any defects that need to be resolved. As a buyer I also strongly recommend getting a home warranty. This will protect your investment for the first year you are in the home. It won’t cover the roof or foundation – unless you add coverage to the policy – but it will protect you for the HVAC system and the hot water heater in the cost of any repairs that may be needed. Every area has specific items that should be checked before signing on the dotted line, so please check with your REALTOR® to know those key items.

“Because YOU matter”

#yourrealestatewhisperer

There is nothing SHORT about a Short-Sale.

January 2, 2017

The verbiage alone makes it sound simple and easy. I assure you that they are labor intensive transactions. Many people ask, when searching for a home and come across the listing that say’s “Short-Sale” what exactly it is. In the simplest terms in just means the sellers are going to sell the home for less than they owe to the lender. This sounds like a great buy for the presumed buyers of these homes, but here some things you should know about them from my personal experience as well as questions that should be answered before you dive into purchasing a short-sale home.

Has the short-sale been approved?

In our area of Ascension Parish we don’t see too many short-sales any longer since the housing bubble fizzled a bit in 2008-2009. Many agents who are not experienced with a short sale get a surprising education pretty quickly. If your sellers have to “short-sale” their home the sellers agent must fill out the proper paperwork with the sellers approval to speak with the lender about short selling the home. Comparable homes in the area must show the home is worth less than what is owed and the lender must “approve” the asking price for the home in its current condition. This can take weeks, even months.

If you find a “short-sale” make sure to ask if the home was “approved” for the asking price on the MLS.

You got an accepted offer from the sellers? Not a time to relax, not just yet….

Even though you have negotiated a price with the sellers, it still needs to be accepted by the lender. The seller’s agent has to put together a settlement statement to the lender that is then “approved” or “declined” by the bank. (I have even seen a lender turn down a full asking price short-sale). This approval can take weeks even months to come through. The agents working on this call, fax, email, and use sites to upload documents to make the sale go through.

Got acceptance from the sellers and lender, what now?

This is the time you want to do your inspections, and I STRONGLY suggest you hire a professional inspector. You are going to want to keep a running total of cost of repairs. In many cases the sellers are not in the position to make costly repairs or even minor ones so this is on you, the buyer. You really need to weigh out how much these things will cost you to do. Is the amount more than the reduction you got on the home? Then you may want to find another home.

Hurry up and wait!

You have sent everything 4 times to your agent that’s been required. The sellers have too but 10 times. What could possibly be taking so long? Nobody really knows why these take so long to get approved. The theory is that only one person at each lending institute is doing these short-sale approvals, and they get a 3 hour lunch and several paid days off. (sarcasm). Kidding aside, this can take several months to get the rubber stamp that its cleared to close.

The patient will prevail.

The process can be long and exhausting but you can really get a great home for way less than the comparable’s in the neighborhood. If you have patience you can win out. It’s important you have an agent that is informed of the process and can explain the up and downs as they come along during purchasing a short-sale. There are many other things that can happen during the waiting period for approvals. I just touched on a few of the big ones. I’d love to be the one to help you with your short-sale purchase, Why?

“Because YOU Matter”

Your Real Estate Whisperer

"Your Real Estate Whisperer" What’s That!?

August 5, 2016

I’m not really sure how other Realtors go about “blogging” but I don’t want to look like other realtor blogs. I just want to emphasize who I am, to you the reader first. I have often said, “I’m not the set the world on fire real estate agent”. I’m not looking to close 40 houses in a month, having a huge team behind me doing all the work. I have been and will continue to be a “hand holding” agent. I have tagged myself “Your Real Estate Whisperer” because that’s the simplest way to describe what I do for my clients. I love to work with people that are new to the idea of buying and selling, in turn, making those same clients into a relationship of a lifetime. Many of my clients have become close friends and I remember things about each and every one of them. Not one time would a client’s name come up that I wouldn’t know who they were talking about, because I take the time to invest time in each relationship I make with a client. Time is so very precious for everyone these days, we never seem to get enough in a day. So you can see how I work could benefit so many buyers and sellers out there. Home buying is stressful and if you had the agent that would call you just to check in on you during this process, it can and does ease your mind during the transaction. I won’t say, every person that walks into an open house becomes my client but the ones that do become a client are a part of my life. I’m quick to respond to questions. My phone is at my side always and if I don’t answer it’s because I’m either with a client or I’m showing homes to potential new clients. That being said, Everyone gets a call back in a timely manner, never will you wait days for a response, I’m here for you. I know my job, I know my market, I know how to negotiate (my favorite part) but mostly I understand people and how they should be represented. So that’s it folks, my first blog post.