The HGTV effect on home inspections

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My mother has been a realtor for over 30 years. She has always used inspections for negotiating on big items. In general, anything that can cause over $5K worth of repairs needs to be taken into account either with a seller repair, seller credit or price negotiation. That is within reason. For example, something that is nearing the end of its life span. Roofs over 20 years old, major appliances over 10 years old or identified by the inspector as in need of repair. That type of thing. Small fixes, like outlets, basic plumbing, light fixtures, are usually either make the seller repair/replace or deal.

Nope, this is unacceptable. Inspections are for items that are currently broken. Something "nearing the end of its life span" is the buyers' responsibility, and I'd tell them to go take a hike.

No offense, but how many houses has your mother sold over 30 years? 3? 5?

My mother has probably sold over 1000 houses. She averages about $3M in sales a year where the average houses list around $150-200K. That average is only for about the last 20 years. For the first 20 10+ years, she did between 2 houses the first year to about $1M in sales by around the 10th year.

Your mother works in a low cost area where demand is not strong and sellers have to make more concessions to attract buyers. Additionally, buyers likely can't afford to make home repairs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My mother has been a realtor for over 30 years. She has always used inspections for negotiating on big items. In general, anything that can cause over $5K worth of repairs needs to be taken into account either with a seller repair, seller credit or price negotiation. That is within reason. For example, something that is nearing the end of its life span. Roofs over 20 years old, major appliances over 10 years old or identified by the inspector as in need of repair. That type of thing. Small fixes, like outlets, basic plumbing, light fixtures, are usually either make the seller repair/replace or deal.

Nope, this is unacceptable. Inspections are for items that are currently broken. Something "nearing the end of its life span" is the buyers' responsibility, and I'd tell them to go take a hike.

No offense, but how many houses has your mother sold over 30 years? 3? 5?

My mother has probably sold over 1000 houses. She averages about $3M in sales a year where the average houses list around $150-200K. That average is only for about the last 20 years. For the first 20 10+ years, she did between 2 houses the first year to about $1M in sales by around the 10th year.

Your mother obviously doesn't sell real estate in the DMV. Here, these practices would not fly and might even violate applicable state laws and/or ethical constraints.

Np here, but what are you talking about? That approach doesn't sound unreasinable, especially in a sane market, unlike here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't blame HGTV. I blame skyrocketing housing costs. People are paying $800k for colonials that are $150 in the rest of the country. It's back breaking and it adds insult to injury to have crap to fix and replace on top of it.

I am an agent and agree with this.

A further complication is that buyers do not understand houses. Until about 20 years ago, many people -- particularly men (flame away) -- had a good understanding of home maintenance. They would putter around their house and generally instruct their sons (flame away again) in how to care for a home. This changed as Americans became more affluent and stopped doing work on their own homes. As a result many buyers under 50 have no understanding of houses and panic over anything the home inspector points out. They don't understand that they are buying a used house that will need maintenance and repairs. Even if they buy a sparking new house, it will have its problems during a home inspection, and they will have to maintain and repair the home. Buyers are much more focused on where to place a big screen TV, their firepit, whether the god awful Restoration Hardware sectional will fit in the family room and finding the right shade of gray for walls.

Agree with this. DH is in construction and we always do a general inspection. We know that he can fix anything that is wrong with the house. Over the years, I've learned a lot about home maintance from watching him. Now he's teaching our children (boy and girl) to do home repairs.

[Anonymous]

I don't understand why sellers don't have to note the age of the major appliances in the listing. It's always a big shock when I go through inspection and find out the roof is actually 30 years old. You don't get a credit for it though.

[Anonymous]

No one is obligated to buy a house if they don't like what's in the inspection report. It all comes down to how much the seller wants to sell to that particular buyer. In a seller's market they might have their pick of buyers so have no reason to negotiate if they don't want to. In a softer market the sellers would be wise to very carefully consider their options before walking away from an otherwise decent offer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My mother has been a realtor for over 30 years. She has always used inspections for negotiating on big items. In general, anything that can cause over $5K worth of repairs needs to be taken into account either with a seller repair, seller credit or price negotiation. That is within reason. For example, something that is nearing the end of its life span. Roofs over 20 years old, major appliances over 10 years old or identified by the inspector as in need of repair. That type of thing. Small fixes, like outlets, basic plumbing, light fixtures, are usually either make the seller repair/replace or deal.

Nope, this is unacceptable. Inspections are for items that are currently broken. Something "nearing the end of its life span" is the buyers' responsibility, and I'd tell them to go take a hike.

No offense, but how many houses has your mother sold over 30 years? 3? 5?

My mother has probably sold over 1000 houses. She averages about $3M in sales a year where the average houses list around $150-200K. That average is only for about the last 20 years. For the first 20 10+ years, she did between 2 houses the first year to about $1M in sales by around the 10th year.

Your mother works in a low cost area where demand is not strong and sellers have to make more concessions to attract buyers. Additionally, buyers likely can't afford to make home repairs.

Yep, you're comparing apples to oranges.
I'm laughing at "the average houses list around $150-200K".

[Anonymous]

While I agree with you, OP, about the trend toward buyers wanting credits for more things like you describe, I am not sure I'd put that on HGTV. I feel like it is part of the change in society generally in people, especially young people, want everything to be perfect, and expect someone else to pay for it. And of course for the past 8-9 years, they'd had a better chance of getting it. In this market I would be surprised.

[Anonymous]

Anonymous wrote:I don't understand why sellers don't have to note the age of the major appliances in the listing. It's always a big shock when I go through inspection and find out the roof is actually 30 years old. You don't get a credit for it though.

Do a pre inspection of the house. You will know how to negotiate when you know the house better. If you are in a hot market, you may have little leverage because of competing offers, but you will be making an informed decision.

[Anonymous]

Most insurance companies won't cover a 15 year old roof and therefore you can't? get a mortgage. End of life for Water heaters and major appliances are always a negotiation point. The outlet and toilet issue are easily fixed by the homeowner unless you are an idiot.

[Anonymous]

It's embarrassing that these boomer assholes don't maintain their homes and won't fix the inspection list. They have no shame, worst generation ever.

[Anonymous]

Anonymous wrote:It's embarrassing that these boomer assholes don't maintain their homes and won't fix the inspection list. They have no shame, worst generation ever.

I hope this is a sarcastic comment. But if it's not, realize that with every home, an inspection will turn up things. Most of the time, whatever is wrong, isn't really wrong; it's just not brand new perfect. If you want brand new, you should buy brand new. But even a new construction build will turn up things at the inspection.

[Anonymous]

Anonymous wrote:It's embarrassing that these boomer assholes don't maintain their homes and won't fix the inspection list. They have no shame, worst generation ever.

They raised you. Assholes begat assholes

[Anonymous]

Anonymous wrote:My mother has been a realtor for over 30 years. She has always used inspections for negotiating on big items. In general, anything that can cause over $5K worth of repairs needs to be taken into account either with a seller repair, seller credit or price negotiation. That is within reason. For example, something that is nearing the end of its life span. Roofs over 20 years old, major appliances over 10 years old or identified by the inspector as in need of repair. That type of thing. Small fixes, like outlets, basic plumbing, light fixtures, are usually either make the seller repair/replace or deal.

Unless the house was priced at the same price as an equivalent but new house, why would you expect concessions from a seller?

[Anonymous]

Anonymous wrote:Most insurance companies won't cover a 15 year old roof and therefore you can't? get a mortgage. End of life for Water heaters and major appliances are always a negotiation point. The outlet and toilet issue are easily fixed by the homeowner unless you are an idiot.

You are incorrect about the roof -- and you have the nerve to call PP an idiot. There's an idiot here, and it isn't me or him.

[Anonymous]

I assume the offer price already reflects the age of the roof, etc.

I dont understand the need for additional concessions.