tim5055 Posted May 13, 2014 Report Posted May 13, 2014 Article today in the Washington Post Homebuyers have options with inspection contingency The author (Marshall Park is a D.C.-based real estate agent at Redfin) says "You should choose an inspector that you and your agent trust. "
kurt Posted May 13, 2014 Report Posted May 13, 2014 I like the prototypical home inspector in the picture....old white guy, beer belly, Tshirt/jeans/baseball cap, confused looking, dutifully wearing their ID tag on a lanyard around their neck...... [:-paperba
Marc Posted May 13, 2014 Report Posted May 13, 2014 That's quite an extreme seller's market. I can see a buyer doing away an HI if the inspector he has in mind is a 'checklist' minimalist. I like the 'as-is offer with a right to void' contract. You agree not to ask for repairs but retain the right to cancel the contract if you wish. It gives you an out. Author doesn't mention the option of building a new house which is where a lot of folks might go in that environment. Marc
Erby Posted May 13, 2014 Report Posted May 13, 2014 C'mon Kurt. He had a tape measure on his jeans pocket too!
tim5055 Posted May 13, 2014 Author Report Posted May 13, 2014 DC is a unique market driven by the machine that is the government. There is constant growth in the government, companies supporting it as well as the foreign embassies increasing in size. We have been assigned there twice (1995 - 2004 and 2009 - 2013). The market did stagnate/fall a little in the market downturn, it was nowhere near the fall that many othere areas of the country experienced. That's quite an extreme seller's market. I can see a buyer doing away an HI if the inspector he has in mind is a 'checklist' minimalist. Marc When we left in 2004 the market was hot. Our realtor stated we would put it in the MLS on a Wednesday with a notation that there would be no showings until Saturday. He said that buyers with cash would demand to see it now! On the Thursday after it went in the MLS we literally had three buyers with their agents at the house. The first thing that went out the window was the inspection. At that point it was bidding between them. We ended up $20,000 over the asking price. When we left in 2013 the market was just starting to recover. About 6 months before we left we met a couple driving the neighborhood looking to see if anyone was going to sell soon. We took their card and let them know we may be moving soon. Once we got orders we set a price (our realtor thought it was as he put it "aggressive"). We called the couple and gave them our realtors information. We sold to them in one day at just below asking. They did have an inspection, but put in the offer that they would not ask for any concessions and no right to void the contract. There's no available dirt to build on in DC. There are still lots available in many existing subdivisions, but they are few and far between. When you do find on in a nice area the cost of just the lot is higher than a house in many cities. More common is buying old homes as a knockdown and re-building on the lot. The asking prices for close in housing is above a million and to get true affordable housing in decent neighborhoods you are 50-60 miles out. I worked with folks who lived in both West Virginia and Pennsylvania who commuted to DC every day.
mjr6550 Posted May 14, 2014 Report Posted May 14, 2014 When you spend any time in that area it makes you realize even more what is wrong with our government. Too many people within and outside of government making too much money, which comes from us.
tim5055 Posted May 14, 2014 Author Report Posted May 14, 2014 When you spend any time in that area it makes you realize even more what is wrong with our government. Too many people within and outside of government making too much money, which comes from us. Yup, all the money comes from the taxpayers (or is borrowed using the taxpayer credit rating), but in all my years of govt service I've met very few who are "overpaid". The real question, and it is a difficult one, is where do you draw the line and cut employees. Before you cut employees you need to decide what services you want to cut. That is the real question. I know I don't have the answer. Too many folks want govt to do everything for them.
In-Depth Posted May 14, 2014 Report Posted May 14, 2014 I like the prototypical home inspector in the picture....old white guy, beer belly, Tshirt/jeans/baseball cap, confused looking, dutifully wearing their ID tag on a lanyard around their neck...... [:-paperba And he's (gasp) touching the gas valve!
kurt Posted May 14, 2014 Report Posted May 14, 2014 Everyone wants to cut government spending until it effects them. Keep your government hands off my Medicare, or cut spending on social programs for the poor but don't touch my crop subsidies, or screw subsidies to the inner city but don't touch my thousands of miles of Federally paid for roadway, no more subsidies to the farmers but I want my Federally guaranteed insurance so I can build in a flood/hurricane island......etc., etc.... Everyone's got their head in the trough, it's just that most don't recognize it.
tim5055 Posted May 14, 2014 Author Report Posted May 14, 2014 Everyone's got their head in the trough, it's just that most don't recognize it.Ain't that the truth!
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