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Displaying blog entries 11-20 of 48

11 Reasons FSBO is Bad

by Brian Maecker

Hi all, I found this great article at Inman News that I thought you would enjoy.

11 reasons why a For Sale by Owner is Bad.

  1. Scams by both buyers and sellers. Sellers may collect a deposit with no contract. If the seller changes their mind and there is no contract, you may have lost your money. Likewise, Buyers may reverse this trick to contract you but collect a deposit for repairs and then not close.
  2. Liability – With agents involved, the liability goes way down because they clearly know the laws.
  3. Paperwork – The Colorado Contract is 14 pages. How can anyone but a realtor or an attorney understand it?
  4. Everyone realizes it’s a bad deal and mistake and don’t know their rights to get out of a contract.
  5. FSBO’s sell for less – 2 people can’t save the same fee. Buyers want a deal.
  6. FSBO’s spend more time on market because of the less exposure and buyers fear the unknown.
  7. FSBO’s – No Representation – No one will know what to do!
  8. Inspections are a problem – Frankly with every transaction it’s a problem, but again FSBO’s don’t know what should or shouldn’t be done.
  9. Marketing is limited – Duh! only a few ways to see it versus the MLS and Realtor.com.
  10. Hidden Costs – Many FSBO’s try to balk when they see the costs of selling. Be sure everyone knows their fees.
  11. Time versus Money – FSBO’s by taking longer you lose money. But not knowing the ins and outs always costs money!

So whether you are a seller or a buyer, Use a realtor to protect you and make you more money in the long run.

Thanks

 

 

10 Most Expensive Mistakes People Make with their Home

by Brian Maecker

I just read this article from RLS Media’s Housecall. Be aware of these cost saving tips.

  1. Stop using traditional light bulbs. They use 5x’s the energy of today’s energy saving bulbs.
  2. Leaky faucets – 1 drop per second is 3000 gallons a year. Wow!
  3. Use correct filter size in your furnace – Wrong filter sizes increase power bills.
  4. Use set back thermostats and use them regularly.
  5. Adjust all your air vents so air moves freely.
  6. Over watering of your lawn is a huge dollar waste. Water during the night and no more than 3x’s a week.
  7. Check your Water Heater temperature – don’t leave it too high and turn it down on vacation.
  8. Seal leaky windows and doors from draft.
  9. Don’t pay a handyman for things you can do. I don’t know about this, I’m pretty clumsy with a hammer.
  10. Check roof shingles. Always have it checked after hail storms.

I hope some of those tips help you!

Thanks

Brian

Is it time to use Your Equity?

by Brian Maecker

Is it time to get a 2nd mortgage because values on homes have risen? Is it time to pull equity from your home by doing a HELOC loan? NO, NO and NOOO.

         I just read an article in Sunday’s paper that more or less encouraged people to use their equity in their homes. Have we already forgotten the foreclosure days from 2008 – 2014, many of foreclosures were a result of 2nd mortgages. Home prices slowed and all of a sudden, the home is worth less than the 2nd mortgages, worse still, someone lost a job and couldn’t pay the extra payment. While there are some cases to use your equity, I would advise not to. It should be an emergency, not a luxury. If you can’t pay for it, don’t buy it. Do not use your home as a cash register or you may regret it.

Thanks,

Brian

 

10 Bad Habits that Cost Homeowners.

by Brian Maecker

I just read an article from Daniel Bartz at the Washington Post there’s a summary of his article printed in the Colorado Springs Gazette today.

           All homeowners make mistakes by lack of maintenance or neglect of things in their home. Look out for these mistakes.

  1. Clogging pipes with things not meant for pipes. Items mentioned were heavy paper products, paint, and heavy chemicals. In garbage disposals – meats, stringy vegetables, plants and paper products.
  2. Not cleaning the gutter causes damage to roof, fascia and siding.
  3. Trim your trees and bushes to not touch your home. This will help paint and siding last longer and reduce critters onto your home.
  4. Slamming the front door. While built to close, it’s not meant to be slammed. Over time this will crack the framing.
  5. Letting dryer lint build up. Clean the filter and vent to avoid fire danger and extend the life of the dryer.
  6. Not changing furnace filter will reduce furnace life. Depending on where you live and whether windows are open, change filters 2-3 times a year minimum.
  7. Not changing batteries in smoke detectors. How does that happen? Mine beep at 2:00 in the morning when running low.
  8. Turn lights off – needless to say it will save your money.
  9. Taking long steam showers not only raises your utilities, but will also increase your maintenance of the shower.
  10. Wearing shoes inside the home. Wears down the floor coverings faster and brings in unnecessary dirt.

Okay lessons for us all!!

Thanks,

Brian

 

Small Things Can be Big Deals

by Brian Maecker

Buyer Beware! Don’t let your agent ever tell you that it’s “No Big Deal”. Buyers due your due diligence if you have questions about certain items that show up while you’re looking at a home or during an inspection. Here are a couple “small flaws” that can be a big deal.

  1. Electric Panel – There is a brand of panels out there called Federal Pacific Panel. They have been known to fail over time. If the panel is a Fed Pac Panel or Stab lock technology – Get a licensed electrician to evaluate.
  2. Slow Drains – Slow drains can be no big deal if it’s just some hair. But it can be a big deal if the slow drainage is a result of a sewer line. Get a sewer inspection, especially on homes 20 years or older. A new sewer line can cost $10- $20,000.
  3. Bathtub/Shower Caulking – Don’t just think it’s a simple job. Black Caulking could mean water penetration behind the tile. Get it evaluated by a licensed contractor and be sure it’s not a sign of mood or water penetration.
  4. Floorplan issues – If you think as a buyer its simple to more walls, check again. They may be load bearing or have ducts in them.
  5. Windows – While many older homes have good working wood windows, closely inspect the framing. While the window itself may look O.K., many times the frame is rotting.

I could keep going, but these are the main “No Big Deal” items I hear buyers say. Once they are in and doing these items, the true costs hit them. Trust your inspectors and know your parameters.

Sincerely,

Brian

Garage Storage Mistakes

by Brian Maecker

How many of us store lots of stuff in our garages? I think all of us are probably guilty of storing items in the garage that don’t belong there. Here are a few items that the Certified Real Estate Society pointed out.

  1. Family photos – garages are too hot and dirty to store valuable photos keep them inside.
  2. Propane tanks – I store mine there, but shouldn’t. Near car engines these could cause an explosion
  3. Car Batteries – simply don’t store car batteries in any situation. Very toxic and flammable.
  4. Artwork and collectables – for the same reasons you shouldn’t store photos, garages are dirty and full of contaminants
  5. Food – only use a refrigerator or freezer. Regular food is an invitation for vermin to come visit. Plus lots of items like fertilizer and gas fumes that can contaminate food.
  6. Paint – Garages are either too hot or too cold. Time for me to get rid of some old paint.
  7. Carpet and Rugs – this should be a no brainer. It’s dirty and dusty in a garage.

Okay get cleaning that garage!

Thanks

Brian

 

Myths of Fixer Uppers

by Brian Maecker

I keep seeing the popular Fix and Flip shows on TV and they are not dealing with my reality in Colorado Springs. The day of the fixer upper being easy to find is perhaps the biggest myths in our business. I get calls weekly from people who are “investors” looking for the deal. Well, there just isn’t the inventory to make this business profile work.       

         Following Myth 1 of being easy to find, is the misconception of its “easy to make money”. In today’s market of No Inventory, deals are just not there. Look at your numbers and be real about the true return. When you can’t buy it cheap enough, you are not going to make a lot of money.

         Even the best contractors have issues. I can’t tell you how many times I have watched” flippers” not be prepared for the unknown. Not only did they not allow for extra costs, they lost time. Lose time and you lose money. Flipping needs to be thought out, have a plan, and plan extra time for issues.

         Hopefully this will enlighten you a bit before you try to flip homes. Call me as I do have a plan to do this successfully.

Thanks

Brian

          

  1. The Microwave Oven – Clean and sanitize weekly
  2.  The Bathtub – Every week for obvious reasons – shower is the same assuming either both are used most everyday

 

  1. Bed sheets and Linens – Every 2 weeks
  2.  Refrigerator – Monthly will minimize bacteria spores and build up
  3.  Computer – Every week especially if it’s a laptop
  4.  Pillows – Every 3 months, however if you change the pillow case every 2 weeks this can be 6 months
  5.  Carpet – Every 6 month with pets. Yearly without pets
  6.  Mattress – Vacuum the mattress every 2 months
  7.  Kitchen counters – Daily
  8.   Bath towels – Twice a week with daily use.

 I saw this online and found it interesting. A tough level to live up to.

 

Thanks,

Brian

Hardwood Floor Care

by Brian Maecker

I am writing this week’s blog from an article that a local company gave me. The company is Mr. Sandless. Their phone number is 719-434-1415. They are an awesome alternative to refinishing hardwood floors without the mess of sanding. Please call them the next time you need your hardwood floors refinished. In the meantime use these helpful tips to care for those floors.

  1. Dry mop on a regular basis – No wet mopping or steam cleaning
  2. Wipe up spills with a damp cloth. Not only do it fast so it won’t soak in, but use a cloth to soak the spill up and away from the floor.
  3. Never wet mop a wood floor – water is an enemy of wood flooring
  4. Do Not use chemicals on your floors
  5. Use floor protectors – use felt cushions below the furniture. Avoid heels and gritty bottom shoes.
  6. Trim your pets nails – they scratch floors worse than anything
  7. Use a mat upon entry and rugs in high traffic areas.

Good Luck with your floors. Follow these helpful hints and your hardwood will look good for a long time

Thanks

Brian

This week we will wrap up the Real Estate Terms with S thru V

by Brian Maecker

Settlement another name for Closing

Showing when a real estate agent shows a potential buyer a property for purchase.

Spam Complaint Many email programs have the ability for the reader of an email to mark messages as "Spam". Marking an email as "Spam" typically triggers automatic defensive measures such as pre-marking future emails as spam or blocking all future emails from that sender.

Survey a drawing or map that indicates legal boundaries, easements, encroachments, rights of way, improvement locations to a property.

Title a legal document evidencing a person's right to or ownership of a property.

Title insurance insurance that protects the lender against any claims that arise from arguments about ownership of the property; also available for home buyers.

Title Search a check of the title records to ensure that the seller is the legal owner of the property and that there are no liens or other claims outstanding.

Transfer tax state or local tax payable when title passes from one owner to another.

VA Mortgage a mortgage that is guaranteed by the Department of Veterans Affairs.

 

Displaying blog entries 11-20 of 48

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Photo of The Brian Maecker Team Real Estate
The Brian Maecker Team
RE/MAX Advantage
5590 N. Academy Blvd.
Colorado Springs CO 80918
719-593-2963
Toll Free: 888-593-2963
Fax: 719-599-7777