Very Special Thread Of Real Estate Randomness

[betenoire]

Originally Posted by Waldo

Word. Hopefully it's only temporary and this dark time will provide an opportunity for amazing renewal in the coming decades. Sadly, Michigan is not really known for forward thinking any more.

I dunno. 40 years of being fucked over by shady Mayors and police is a long time. It's hard for me to see hope when the people in power are the people who created the problem.

Plus, honestly, any solution that federal/state government would probably come up with would likely end up displacing many of the people who live there now - and I don't want to see that.

Anyway. Off to work.

[Waldo]

Originally Posted by betenoire

I dunno. 40 years of being fucked over by shady Mayors and police is a long time. It's hard for me to see hope when the people in power are the people who created the problem.

Plus, honestly, any solution that federal/state government would probably come up with would likely end up displacing many of the people who live there now - and I don't want to see that.

Anyway. Off to work.

To be fair, Chicago was an amazingly corrupt city for much of the 20th century. You could certainly argue that it still is and I wouldn't bet on a dog in that fight, but with the right alignment things can improve. I'll still hope.

[Gayla]

So since it's my very special thread of real estate randomness, I get to tell you random real estate stories!

I've had a number of buyers ask me if they really need to do a home inspection and my answer is always yes. Inspections are paid for by the home buyer. Often buyers are trying to keep their out of pocket costs as low as possible so while they may try to get away without one, I don't recommend it. Up until this week, my advice has always been theoretical but now I have a real, live story of why home inspections are so important!

A few weeks ago, a nice couple came through the ugly wallpaper house during one of my Sunday open houses and, hypnotized by my amazing powers of persuasion, decided that I should help them find the home of their dreams! A few days later, we found one they liked, submitted an offer and the offer was accepted. The next step is a home inspection.

They didn't ask if an inspection was needed because the house had been built in 1945 and could have had some issues. Little did we know the amount of those issues!

A normal inspection on a home of this size takes about 3 hours. The inspector goes through all of the major systems of the house, takes pictures, points out things to the buyers, makes sure stuff works like it should, etc. This inspection took twice that long and the majority of the problems were things that couldn't be seen just by walking through the house.

There were major issues with the electrical systems, the foundation, and water in the crawl space. He found significant damage from termites and carpenter ants. He found old asbestos tiles in the attic, live electrical wires behind the stove in the kitchen and plumbing problems in the downstairs bathroom. Everywhere he looked, that we wouldn't have, there was a problem.

Needless to say, they will not be purchasing this house. The $350 they spent on the inspection may have just saved them tens of thousands of dollars in future repairs.

[Gayla]

This is my current dream house. Clicky Clicky

[Gemme]

Originally Posted by gayla

This is my current dream house. Clicky Clicky

We have similar taste. I absolutely adore that home and Organic said I could buy it if I won the Lottery!

I'd invite you over for and if I did.

[jenny]

Real estate porn for old house lovers:

http://www.historicproperties.com/

[Queerasfck]

DIY cabin in the woods, for the low, low price of 57K. Only 130 square ft. but it has a little patio. Check out the slides.
And it's only about 6 hours from Voodoo Doughnuts in Portland!

[Waldo]

Originally Posted by jenny

Real estate porn for old house lovers:

http://www.historicproperties.com/

The only house on there in Denver is in my neighborhood. Less than a mile, right down the street from me. I pass it regularly. It's lovely but I don't think they'll get their asking price. They really over-improved for the neighborhood. Some of the details in the house are utterly stunning - but really the sort of thing you do only if money is no object and more often if you plan to stay in a house forever.

[Hack]

Originally Posted by jenny

Real estate porn for old house lovers:

http://www.historicproperties.com/

Holy cow, the old Loeb School in Charlevoix, MI is on there for $259K, which is an utter steal for that part of Michigan. That's where the rich and famous hang out and play, including John and Patsy Ramsey, of JonBenet fame.

[jenny]

Originally Posted by gayla

So since it's my very special thread of real estate randomness, I get to tell you random real estate stories!

I've had a number of buyers ask me if they really need to do a home inspection and my answer is always yes. Inspections are paid for by the home buyer. Often buyers are trying to keep their out of pocket costs as low as possible so while they may try to get away without one, I don't recommend it. Up until this week, my advice has always been theoretical but now I have a real, live story of why home inspections are so important!

...

Needless to say, they will not be purchasing this house. The $350 they spent on the inspection may have just saved them tens of thousands of dollars in future repairs.

I absolutely agree that inspections are essential; unfortunately, although I had one done, it didn't tell me what I needed to know. If the inspector could have looked behind the walls, he would have seen exposed electrical wires, cut beams, and all sorts of things that he would have warned me about. He couldn't see that stuff, however, and found some minor issues with the house I was buying, and so I moved ahead.

Four years later, during bathroom renovations, the beginnings of the problem became evident, when the ceiling was taken out and the beams up to the main joist were exposed -- and they'd been cut, then sistered with 2x4s. Under the shower pan was an exposed outlet. (Yes, an outlet, in the floor, under a shower. Go figure.)

Long story short, a builder who I've known for years came over, pulled some walls down and recommended that I get my kids out of the house if we had more than two inches of snow, because the roof was completely unstable. We planned a "remodel" which really was a complete rebuild, and seven weeks later, knocked the house to the ground.

What. A. Disaster. In taking down the house, we found things that were horrifying, and frankly, it's amazing the house didn't go up in flames prior to the demolition. Frayed, barely connected electrical wires running through the walls. Beams that were cut and didn't reach the joists they should have been attached to. No subflooring at all in the living and dining rooms -- just hardwood laid on beams, over a crawl space. (No wonder it was impossible to keep the house warm in the winter!!) The front wall of the house wasn't attached to anything at all -- literally, it was just sitting on the dirt... but that fact was hidden by the front porch. The list goes on and on...

I'm lucky... I now have a very safe, comfortable home, and nothing awful happened to my family. And of course, I can't blame the home inspector, as he clearly stated that he couldn't guarantee anything he couldn't visually inspect. So yeah, absolutely get a home inspection -- I wouldn't buy a house without one. But beware... there may be hidden issues you don't have any way of knowing about!!