9 Questions to Ask Your Home Inspector

home-inspection

The following post comes from Coldwell Banker Vanguard Realty, Inc. agent, Kim Knapp. Kim is an experienced agent in Northern Florida and has a great team who has worked with countless first-time home buyers. Below is Kim’s list of questions you should ask your home inspector before agreeing to use them.

Before you make your final buying or selling decision, you should have the home inspected by a professional. An inspection can alert you to potential problems with a property and allow you to make an informed decision. Ask these questions to prospective home inspectors:

1. Will your inspection meet recognized standards?

Ask whether the inspection and the inspection report will meet all state requirements and comply with a well-recognized standard of practice and code of ethics, such as the one adopted by the American Society of Home Inspectors or the National Association of Home Inspectors. Customers can view each group’s standards of practice and code of ethics online at www.ashi.org or www.nahi.org. ASHI’s Web site also provides a database of state regulations.

2. Do you belong to a professional home inspector association?

There are many state and national associations for home inspectors, including the two groups mentioned in No. 1. Unfortunately, some groups confer questionable credentials or certifications in return for nothing more than a fee. Insist on members of reputable, nonprofit trade organizations; request to see a membership ID.

3. How experienced are you?

Ask how long inspectors have been in the profession and how many inspections they’ve completed. They should provide customer referrals on request. New inspectors also may be highly qualified, but they should describe their training and let you know whether they plan to work with a more experienced partner.

4. How do you keep your expertise up to date?

Inspectors’ commitment to continuing education is a good measure of their professionalism and service. Advanced knowledge is especially important in cases in which a home is older or includes unique elements requiring additional or updated training.

5. Do you focus on residential inspection?

Make sure the inspector has training and experience in the unique discipline of home inspection, which is very different from inspecting commercial buildings or a construction site. If your customers are buying a unique property, such as a historic home, they may want to ask whether the inspector has experience with that type of property in particular.

6. How long will the inspection take?

On average, an inspector working alone inspects a typical single-family house in two to three hours; anything significantly less may not be thorough. If your customers are purchasing an especially large property, they may want to ask whether additional inspectors will be brought in.

7. What’s the cost?

Costs can vary dramatically, depending on your region, the size and age of the house, and the scope of services. The national average for single-family homes is about $320, but customers with large homes can expect to pay more. Customers should be wary of deals that seem too good to be true.

8. What type of inspection report do you provide?

Ask to see samples to determine whether you will understand the inspector’s reporting style. Also, most inspectors provide their full report within 24 hours of the inspection.

9. Will I be able to attend the inspection?

The answer should be yes. A home inspection is a valuable educational opportunity for the buyer. An inspector’s refusal to let the buyer attend should raise a red flag.

OBX Market Report 1st Quarter 2013

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The OBX MLS started out much slower this year than in 2012. Everyone seems to be in agreement that 2013 will be even better than last year, just spread out a bit different. This can be attributed to the slower traffic in December – smaller pendings in December always result in fewer closings in the first quarter of the New Year. However, the pendings are up for the first quarter and there is increased activity which will result in future sales!

Recap of all Property Sold in the 1st Quarter

On a positive note, our average days on the market continues to shrink. Inventory has declined and the sellers are pricing more in line with the market which results in a shorter listing period.

OBX Market Report 1Q 2013_Page_1

For the full report, Click Here.

2012 Agent of the Year – Heather Sakers

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Congratulations to Heather Sakers for being named our 2012 Agent of the Year. In the picture above Heather is awarded for her acheivement by Gordon Jones, President/Owner of Coldwell Banker Seaside Realty, and Pamela Kulsa-Smith, Vice President of Coldwell Banker Seaside Realty, at our annual breakfast meeting that was held at Chilli Peppers Restaurant.

When asked about Heather’s accomplishment, Pamela said, “Heather is a full time agent with outstanding customer service skills.  In the five years she has been with our firm, she has built a successful business by prospecting and using the tools and resources available to her through Coldwell Banker.   Heather has a very aggressive marketing plan in place and works hard to sell her listings.   She has a very loyal client base and continues to generate new business and is a consistent top producer and well deserving of our Agent of the Year award.  She is also a recipient of the 2013 Coldwell Banker International Presidents Circle Society Award, placing her in the top 8% of all Coldwell Banker agents throughout the world.  We’re glad Heather is on our team!”

Kudos to you Heather! You are a shining example of how hard work and persistence comes out on top.

2012 Listing Agent of the Year – Marty Griffin

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Congratulations to Marty Griffin our 2012 Listing Agent of the Year! Marty had over 30 listings for 2012 which put him on top at our firm.  In the picture above Gordon Jones, President/Owner of CBSR, and Pamela Kulsa-Smith, Vice President of CBSR, award Marty for his accomplishment at our end of the year breakfast meeting that was held at Chilli Peppers Restauarant. Pamela said, “I’m excited that Marty has earned the Listing Agent of the Year award.  I’ve worked with Marty for over ten years and he goes above and beyond for his sellers!  Marty has earned the Coldwell Banker International Sterling Society award, placing him in the top 20% of all Coldwell Banker agents throughout the world.  Congratulations Marty!”

Way to go Marty and a big kuddos to you!

 

Existing Home Sales Hit a 5 Year High in 2012

For Coldwell Banker Seaside Realty, 2012 was our strongest volume year since 2005.  We ended the year with a 30% increase in sales over 2011, making this the fourth year in a row with increased sales.  Our market has shown substantial improvement and we anticipate 2013 will be another successful year for Coldwell Banker Seaside Realty.

Existing Home Sales Hit 5-year High in 2012

By Ruth Mantell

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[1](MCT)—Sales of existing homes ticked down in December from the month before, while the total for 2012 hit the highest level in five years, according to data released Tuesday by the National Association of REALTORS®.

The pace of sales fell 1 percent in December to a seasonally adjusted annual rate of 4.94 million, according to NAR. For all of 2012, existing-home sales hit 4.65 million, the highest level since 2007 and up 9.2 percent from 2011.

“Record-low mortgage interest rates clearly are helping many home buyers, but tight inventory Continue reading

4th Quarter Outer Banks Real Estate Market Report – 2012

End of the year results are in for the Outer Banks real estate market and 2012 proved to be a breath of fresh air for our market. Check out The OBX Market Report Quarter 4 – 2012 or see the highlights below for latest stats on the area from Coldwell Banker Seaside Realty.

MLS Area Stats

According to the Outer Banks Association of Realtors, 2012 was a very good year with sales up across the board and some areas doing very well. There were a total of 2051 units sold in our MLS which is a 21% increase over units sold in 2011.  Here’s the breakdown:

  • Residential:  1,590 units, up 19%
  • Land:  428 units, up 29%
  • Commercial: 33 units, up 22%

Pending sales were also much stronger in 2012 with an overall increase of 19%.  However, pending land sales were the standout performer with a 35% increase over last year.

There were a few particular areas that had significant increases in units sold compared to 2011:

  • Southern Shores and Currituck Mainland both were up 50%
  • Duck:  +32%
  • Kitty Hawk:  +26%

Distressed properties accounted for 17% of the total units sold, which was a decrease compared to the 20% in 2012.

Sold price vs. listings sold

 

Seaside Spotlight of the Week – 98 Sunrise Lane, Kill Devil Hills

OBARMLS76946  Introducing the Seaside Spotlight of the week – 98 Sunrise Lane in Kill Devil Hills. This property has 3 bedrooms, 3 and 1 half bathrooms, and is being offered for $900,000.

One of a kind contemporary living on the sound in Colington.  Inspired by the Ward Willits House built by Frank Lloyd Wright in Highland Park, IL,  this home
has an incredible design.  Over 1.34 acres on the sound with 220ft. of bulkheading, this is quite a unique setting including a Koi Pond fed by Waterfall
adjoining the home.  Main house was built in 2006 with attention to detail and guest house built in 2001.  The main house boasts one large master suite with
jacuzzi, tiled shower, his and her vanities and washer/dryer hookup, with amazing sound views and access to deck.  There is a second master suite on the
second level with wetbar. Large central living room with ceilings open to second level, gourmet kitchen, screened porch and library/loft area. Bonus spaces
downstairs include large storage room, garage, workshop, wine cellar and bonus game room. The main house has these upgrades:
>Geo-thermal in-ground closed loop system with hot water option (owner estimates 40% savings on heat costs and 60% savings on cooling costs over traditional heat pump system)
>Interior heat pumps for longer useful life
>Double hot water heaters/storage tanks
> Andersen Sun II windows & doors throughout
> Four ft. roof overhangs for summer shade
> 6-inch exterior walls w/spray foam installation
>Double sheathed roof w/Certainteed Hatteras Shingles w/ice & water shield
underlayment .Hardiplank siding
>Brazilian cherry flooring, stairs & mantel
> Ipe wood custom exterior wood railings, stairs & porch decking
> Thermadore & Kenmore Elite stainless appliances
> Custom floor-to-ceiling stone fireplace in great room
> Oversized finished workshop
> Temperature controlled wine room w/wet bar
> Oversized laundry room w/ storage & Counter space
>Main level master suite w/jetted tub in bathroom & sliding glass door to main deck
> Second master suite on upper level w/adjoining study, private sound front deck>Dumb waiter roughed in
> New exterior paint in December 2011.  Guest house has one bedroom, full bath, full kitchen, living room and sunroom. Andersen Sun II windows & doors thoughout
> Doubled sheathed roof w/ Certainteed Hatteras Shingles
> 40-ft. Trex deck reinforced for hot tub
> Handicap Ramp. Newly landscaped and move-in ready!
This is an extremely well built and unique property.  One of very few with a Main house & Guest House.  Perfect for the visitors you will want to entertain in this home!

 For more information and to see additionional photos, please click on the link below.

For Sale: 3BR/4BA Single Family House in Kill Devil Hills, NC, $900,000.

Local real estate sales continue an upward trend « The Outer Banks Voice

With real estate sales continuing to rise, Coldwell Banker Seaside Realty certainly can attest to this trend. Our agents hit the $100 Million mark in ytd sales last month! Way to go agents, your hard work has not gone unnnoticed!

Local real estate sales continue an upward trend « The Outer Banks Voice.

New-Home Sales Inch Up, Optimism Builds

We are seeing great signs that the market is on its way back up. Here’s some great news about new-home sales for April.

Via REALTORMag.com…

Sales of new single-family homes in April continued to inch up, increasing optimism in the building industry that a recovery is finally taking hold.

New-home sales rose 3.3 percent in April and were up 9.9 percent year-over-year, according to new Commerce Department housing data released Wednesday.

The increase in April sales activity is in line with other important housing measures that have shown continued, gradual improvement from the first quarter as more consumers look to take advantage of today’s low interest rates and affordable home prices,” says Barry Rutenberg, chairman of the National Association of Home Builders. “In markets where demand is rising, we could be seeing a faster pace of recovery if not for persistently tight lending conditions that are slowing both the building and buying of new homes.”

New-home sales rose the most in the Midwest, by 28.2 percent in April, and by 27.5 percent in the West. The Northeast saw new-home sales rise by 7.7 percent in April, while the South posted a 10.6 percent decline last month.

The inventory of new-homes remains historically low at a 5.1-month supply at the current sales pace. But housing experts say the record low inventories may prove an eventual boost for future housing prices.

Home prices for new-homes are up nearly 5 percent compared to a year earlier, with the median price at $235,700 from April, the Commerce Department reported.

In another optimistic sign at recovery for the housing market: The National Association of REALTORS® reported Tuesday that sales of existing homes also increased in April, rising 3.4 percent in April compared to March and increasing 10 percent year-over-year.

Source: National Association of Home Builders and “New-Home Sales Amplify Optimism About Housing,” The Wall Street Journal (May 23, 2012)

Positive Signs Abound for Housing

Via REALTORMag.com…

The first quarter of 2012 was the best first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years, NAR Chief Economist Lawrence Yun said this morning at the Residential Economic Update during the NAR Midyear Legislative Meetings & Trade Expo.

Moreover, he said the second half of this year could be even better than the first, in part because of continued increases in rental costs and record affordability of homes. “Renters are getting squeezed, and they don’t want to rent anymore,” Yun explained. “This could be the year we see the release of pent-up demand.”

Home prices have been skipping along the bottom for about a year now, Yun said, a trend that has drawn investors into the market. These investors have helped housing through a couple of difficult years and partly mitigated the dysfunctional mortgage market.

“Right now is the time to buy low,” he said. “Investors are coming in to take advantage. Second homes started to recover nicely last year because of investors.”

However, home values are poised for a rebound as more traditional buyers move back into the market, Yun said. In fact, this has already started to happen in areas such as Phoenix and Miami, which have seen year-over-year (March 2011 to March 2012) double-digit percentage increases in home prices.

As real estate improves, consumer psychology around home ownership will change, he added. Coupled with the recent — if relatively modest — job growth and stock market gains, conditions are right for a sustained housing recovery.

Read full article here.