Are Skylights a Good Idea in Older Homes?

Dear Dave,

I own an older home that doesn’t have very many windows. I have been throwing around the idea of putting in a skylight or solar tubes. I have heard of people having problems with these things leaking, but I have also heard stories where people didn’t have any problems with them. What is your experience with skylights and/or solar tubes? Would you recommend putting them in a house?

Thanks for the help-

Bob - Grand Junction, CO

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Bob,

I love them!  I love Skylights and solar tubes.   A dark home is NOT a good thing and bringing in more natural light is always a good thing!  You can’t get too much natural light, especially if your home tends to come off dark.   Skylights and Solar Tubes are a wonderful way to brighten up any home with few lingering issues.

There is always a chance for leaking when you penetrate your roof with a hole and then attempt to seal it up, however if installed properly I think you will find few, if any, lingering problems.  The added benefits certainly outweigh the risks and introducing more natural light will not only add value to your home, but also increase your quality of life!  Trust me, it will be some of the best money you can spend on your home.  It is time for you to come into the light!

Dave Kimbrough

The Kimbrough Team

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Are Pre-home Inspections a Good Idea on Older Homes?

Dave,

We will soon be selling our home and looking to downsize.  We have lived here almost 15 years and are the second owners.  We have taken good care of our home and have kept up on routine maintenance and also fixed any items needed over the years.   Our home is older, built in 1976, but has been well taken care of.  We are considering a Pre-home inspection, as one of our friends intimated that it might be a good idea.  Your thoughts on pre home inspections?  Thanks.

Dwight, Grand Junction

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Dwight,

On face value it sounds like you could go either way.   Your friend is right, it can be a really good thing and offer you, the buyer, and the real estate agents some peace of mind that the home is in good condition and free of any major problems.   The decision should be based on your knowledge of the home and how likely you believe it is that a problem may come up during the home inspection period. With any home built in the 70’s there is a reasonable chance that quite a few items will come up on the home inspection, not because you haven’t taken care of your home, but because it is old!   Generally I think it is a good idea, based on the age of your home, but it will set you back $300-$400.  This may be a very small sum in the long run, if it prevents a deal from falling apart.

One major thing that a pre home inspection will do is likely bring any “deal killers” to the surface before you get your home on the market and under contract.  If you do find a significant issue up front this will allow you to get it resolved prior to putting it on the market and getting it under contract.  There is no doubt in my mind that many things that happen during and related to the inspection period, after a home goes under contract, are blown way out of proportion and have as much to do with leverage, emotion, fear and lack of knowledge than the problems that are discovered and their remedies.  Once a For Sale sign goes up in your yard, regardless of what anyone says, everything changes and everything gets magnified, especially in a market where buyers can be difficult to find.

There are two things that I think are a great idea, regardless of the age of your home.    If you are currently on a septic system, I highly recommend you have your tank pumped and inspected prior to putting the home on the market as this serves not only as great preventive maintenance but will also put a stop to any potential septic issues before they generally get started.  Also, have a Licensed heating and air conditioning professional come and give your heating and cooling systems the once over and provide a receipt for a clean bill of health.  Septic systems and your homes mechanical systems (especially heating) are two items that many home inspectors single out and recommend buyers have those evaluated by Septic and HVAC professionals.  It is good preventive maintenance and eliminates the potential for a conflict of interest to have those things checked out ahead of time.   One more thing, if you have any question or doubts about your roof, have that inspected also.  Roof inspections are generally free and will bring any potential issues to light and notify you in advance if your roof is at the end of its expected life. 

I recommend a pre-home inspection if you have ANY concerns about a “deal killer” issue that may come to light.  If you have no concerns about that, then I would not do one.  If you do have concerns that there may be an issue there, some little nagging hunch, then I would pull the trigger on one and not even think twice about it.  You know your home better than anyone and if you think you need to have one done let me know and I will be happy to recommend a few that will do a great job!  A pre-home inspection is not for everyone, but maybe it should be….. I am finding myself rethinking the issue as I write this column.   Thanks for the thought-provoking question.

Dave Kimbrough

The Kimbrough Team

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What Is The Best Way To Estimate The Value of Our Home?

Dave,

We are thinking about selling our house, but we would first like to know how much our home is worth. We’ve seen a few websites—like Zillow and Truila, just to name a couple of them—that say they can estimate the value for us, but we aren’t sure if they are reliable. We know you’ve been doing this for quite a while and trust your advice. When you are selling a house how do you determine if these web sites are a reliable source for establishing the value of our home?

Tom, Grand Junction

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Tom,

I love this question!   For the purpose of this answer we will focus on Zillow as it is by far the most used and relied upon real estate web site.  Zillow is, in my opinion, the best of all the real estate web sites at marketing to the public and to Real Estate agents.  It has established itself as the “go to” web site for helping the public not only keep track of local and national real estate trends and homes for sale, but has also been effective at instilling the perception that it can help you establish a value for your home.  The Zillow.com home valuation tool is called a “Zestimate”. 

I encourage you to go to Zillow.com and click on the FAQ, frequently asked questions, and scroll down to the “How accurate is the Zestimate?” and click to open.  What you will find is what very few know or ever venture to find out.  Here you will find out how good their marketing has been.  The marketing has been so good that the public has willingly flocked to a product that is almost wrong more often than right.  In the terms of statistical accuracy a “Zestimate” is virtually worthless.  What Zillow.com is admitting, in the fine print, is that their Zestimate is not overly accurate.  Actually, statistically speaking it is amazingly inaccurate!  There are too many variables, that don’t have to do with measurable and quantifiable characteristics, to allow a computer to provide an accurate statistical analysis on a home’s value.  Lets dive into some of the specifics!

When the Zillow website states that the Zestimate is accurate within 5, 10 or 20% keep in mind that can potentially mean a PLUS or MINUS percentage number!  In other words, IN COLORADO, if an “off market” (meaning the home is not currently for sale) home zestimate is $400,000 you can figure that value is correct within 10% ($360k - $440k…. an $80k spread) only 68.4% of the time… that means that 31.6% of the time they are even more inaccurate!  In Colorado the Zestimate gets it right to within (+ or - 5%) only 43% of the time!  This means that if you are on Zillow and your home is NOT on the market, the value provided by the Zestimate can not be considered accurate… its more of a poor guesstimate!  On the bright side…. If we look at the Zestimate numbers of “on market” homes the numbers are much more reliable. 

Zillow’s accuracy numbers in Colorado for “ON MARKET” homes (meaning a home that has been listed for sale by a real estate agent or for sale by owner) the accuracy increases significantly (90% are within +/- 5%) and are much more reliable.  Why such a dramatic increase in accuracy AFTER a home goes on the market?  This is because they have a local real estate agent establish a market number so the Zestimate can react accordingly.  In their own FAQ’s they site that after a home is listed that their algorithm incorporates new listing data to provide “valuable signals” about the homes eventual sales price!  I find this statement funny….. the new listing data or “valuable signal” is an accurate list price established by someone with local market knowledge!  

Overall, I would say that online valuation modulators are not a reliable source to establish a homes value.  At Zillow.com it goes on to say that a “Zestimate is a good starting point as well as a historical reference, but it should not be used for pricing a home.”  The very best way to establish your homes value is to have a local real estate professional (or two or three) out to view your home and help you establish a proper market value for your home based on neighborhood home sales and what those numbers indicate that a buyer is willing to pay for similar homes!  These quick computer tools are novel and potentially useful to gauge the overall market temperature, but that may be the limit of their usefulness at this juncture.  No doubt there will be many that work to improve the AI in an attempt to better hone property values, but that day has yet to arrive. 

Hope that helps,

Dave Kimbrough

The Kimbrough Team

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Can We Require Our Listing Agent To Inspect Our House After Each Showing?

Hi Dave,

This may sound like someone just complaining but it actually is more serious than that. Our home has been listed with a reputable firm for four months. Whether or not our house has sold by mid‑July, we will be relocating to Denver to start new jobs. The concern we have is that after leaving the house during a showing, we frequently come back to find a door unlocked, lights left on and occasionally our bathroom used. With us no longer in town, can we require our listing agent to inspect our house after each showing? Unfortunately, we do not have a relative or a friend nearby that we feel comfortable asking to oversee, or burdening them with our property. This issue is concerning now but was even more so when our house was being shown during winter with freezing conditions. How do you deal with these problems?

Thank you, 

Gayle and Tom, Grand Junction

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Gayle and Tom,

This is a common problem and a very real concern as it is too often for our sellers that they come home after a showing and find exactly what you describe.  The simple answer is sell your home, but I, as much as anyone I know, fully appreciate that sometimes it is easier said than done. 

First, I must point out that from time to time all showing agents make mistakes and overlook details like locking doors and turning off lights after they leave for a showing. I will admit that one time, as careful as I try to be when showing a house, we went in through the front door and out through the back door and I forgot to lock the front door and actually left the key in the front door lock!! Luckily the showing agent was extremely forgiving and showed me quite a bit of grace, but as good as my intentions were that day, I failed to show the attention to detail and respect for the seller’s home that I should have. My point is, it happens to the best of us, but will not happen to me again! Should it happen, no, but does it happen more often than it should, yes.  That being said you have hit on a couple of points that could help alleviate your concerns.

It is very reasonable to request your agent check up on the house after showings. This may be difficult for your agent to manage, depending on how busy he/she is and the frequency of showings. If you are getting 3-4 showings a week, this can be more difficult, but if it is 1-2, then becomes a much more manageable. Most agents want to make the selling experience as trouble free for their sellers as possible and thus are typically very quick to accommodate their seller’s needs, if at all possible. Do not be afraid to ask your agent for their help, that is what they are there for. 

You have options, explore them. First and foremost, ask you agent and his/her company to help you solve the problem and alleviate your concerns, as I am sure you will find them very resourceful and helpful in finding a solution you are comfortable with.

 You mentioned, you did not have any friends or family nearby that you felt comfortable asking for help, but I would consider a reassessment of your friends and family and re-think who might be able / willing to help. I understand you may not have close neighbors, but any neighbor or friend who has kids (teenagers) who would like to pick a few extra bucks each week for checking in on your house, may be just the ticket. As I recall, teenagers are eager to earn a few extra bucks, but I must admit there may be a generational gap between then and now. : ) Young people today do not seem as money motivated as I was when I was younger! You might even check around at church, as many times the youth group, etc... have folks who are looking for odd jobs and extra sources of income. As I have mentioned in this column before, you may see this as a burden to your friends or family, but believe it or not there are many people who love to help. There are also two types of house sitters, those who would live there while you are gone and watch over the property and those who you can hire to come out once or twice a week to check things over. 

You have options, explore them. First and foremost, ask you agent and his/her company to help you solve the problem and alleviate your concerns, as I am sure you will find them very resourceful and helpful in finding a solution you are comfortable with. Here’s to praying for a worry free move and your home selling soon!

Dave Kimbrough
The Kimbrough Team

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Are Open Houses Effective in the Winter Months?

Dear Dave,

Our house has been for sale for about 2 months now.  It is in a higher price bracket and we aren’t having many showings at all.  What is your opinion on open houses this time of year?  Are they worth the work and the hassle for us and our Realtor? 

We would appreciate your opinion.

Thanks,

Bob - Montrose, CO

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Bob,

I believe this to be our first question from Montrose, thus I can’t resist a quick answer. Open houses are not a significant part of our marketing efforts, not because we don’t want to sell houses, but because they are not statistically effective at selling houses. Open houses are a very good place for real estate agents to meet new home buyers and sellers and add them to their client list, however they are low on the impact meter for directly impacting home sales.

“Open houses are a very good place for real estate agents to meet new home buyers and sellers and add them to their client list, however they are low on the impact meter for directly impacting home sales.”

In summary, it is my opinion that open houses are overall fairly benign as a marketing tool. If you and your agent want to have one then you should have one, as any activity is at least “activity”… you know the blind hog theory? To that end, I would advise you to not hold your breath while you are away from home that Sunday afternoon, as it is statistically not probable to produce a sale, but it may help get you more traffic through you home if traffic is what you are looking to achieve. Realize the open house is another tool to potentially sell and advertise your home, however like most marketing methods it will not be the silver bullet you are likely wanting it to be. Try to be patient, we are just about to enter prime selling season…Winter is almost in the rear view mirror!

Dave Kimbrough
The Kimbrough Team

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Will installing a security system increase the value of my home?

Dear Dave,

I spend a lot of time out of town and am considering getting a home security system installed. I am sure you have come across plenty of homes that have security systems and might have specific brands or companies that you would recommend. Do you think installing a security system will increase the value of my home? Are there any specific features I should consider? I know there are a lot of options out there and many include smart technology. Any help you can provide would be great—I’m just not exactly sure where to begin. 

Thanks,

Brad

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Brad,

Ok, I am by no means a security system expert. Truth be told, I do not see many homes that have security systems installed. Generally, I think most Grand Valley residents find living here safe and have very few concerns about their overall safety. I don’t believe residents worry very much about their home being broken into or things being stolen. I am certain that as the Valley’s population continues to grow, so will the concern relating to crime. From this perspective being proactive is probably a very good idea. Also, if you are away from your home for long stretches of time on a regular basis it would be nice to have a system that is keeping an eye on your home.

I don’t have any specific recommendations for specific brands or companies, however, when I do see them they are typically Superior Alarms or ADT systems. I would have to say that I do not think a security system will provide a valuable boost to your home, however, some buyers may find it a good selling feature. Many buyers who move here from larger metropolitan areas are interested in security systems, as they are the norm in many areas of the country. I would suggest you invest in one that has smart home features that allow you to view and operate remotely from your computer or smartphone. This kind of technology is the wave of the future in everything and if you are going to have it, you need to be able to access it from wherever you are located. I do believe that many systems can also be integrated into other home features such as screens, lights, door locks and more. 

“One great feature available now is the security screen. Since we live in an arid climate, where many homes feature evaporative coolers as the primary means of cooling, security screens can prove to be a very useful feature. ”

One great feature available now is the security screen. Since we live in an arid climate, where many homes feature evaporative coolers as the primary means of cooling, security screens can prove to be a very useful feature. To draft your evaporative cooler you have to leave a window cracked. This inherently leaves your home vulnerable, but with a security screen if anyone tries to remove it or cut it the alarm will sound. That is a nice feature to have, especially if you have an evaporative cooler as your home's means of cooling. I am sure there are a ton of options and one of the companies can custom create a security system that will work perfectly for your home and lifestyle. Keep in mind that peace of mind may be the most important feature a security system can provide! Sometimes that peace of mind is all the “value” increase required. Let me know how it goes and what you learn! 

Dave Kimbrough
The Kimbrough Team

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How to Market Your Home When It Goes Back on Market

Dave,

Help! We listed our home about a month ago. We had a decent number of showings, great feedback and we even got an offer not long after listing it. We accepted the offer, but unfortunately after two weeks of being under contract the buyer's loan fell through. Now our home is back on the market, but it seems like everything has done a complete 180. It's been radio silence! We have only had 2 showings since coming back on the market! What could have possibly changed over the last two weeks and what can we do to get things moving again?

Dennis & Gail, Grand Junction

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Dennis & Gail,

Ugh, I am sorry…I can’t tell you how many times I have seen this scenario play out and its almost never an easy answer! When a property first hits the market there is an innate amount of momentum that is generated by just being a new property. The amount of momentum generated, if done properly, can be exponentially increased based on condition, marketing and price etc. It is always our goal to generate as much momentum as possible. Riding the momentum wave after launch is key and the more momentum you generate the longer you can ride the wave. Momentum in real estate is often overlooked and undervalued, but it is a vital goal when putting together a purposeful marketing strategy and turning back to that strategy to kick things back into gear again is where you must turn! Just like in a football game when big “MO” is on one team’s side it seems like they can do no wrong, but nothing kills momentum like a turnover, penalty or some other miscue. A property that falls out of contract is like a turnover in the big game, it can often times kill the momentum and to get it back you must dig deep into your marketing tool box!

It is absolutely one of the most frustrating parts of selling a home. The excitement of getting an acceptable contract to the agony of losing the buyer and having to start over again. It is not only emotionally painful, but the reality of the re-start can be another unexpected blow, especially when it is hard to wrestle the momentum back. This impact can be compounded right now as we are entering the winter months and the holiday season where fewer buyers are roaming the streets and contracts are nearing 50% of the spring/summer time highs. When this situation happens on our team, it is an all hands on deck affair. We know that getting that old engine going again is harder the second time around. Hopefully your agent has a proven marketing strategy that you can fall back on to rekindle the fire of a listing that has lost its spark. 

“When this situation happens on our team, it is an all hands on deck affair. We know that getting that old engine going again is harder the second time around.”

We start by messaging the entire database of real estate agents, especially those who may have previously shown the property, about the fact that we are back on market and often times offer some kind of small incentive or price reduction to give a fresh look and price. We also might switch up photos or re-work the write up so it appears fresh and new. We immediately focus on our electronic footprint (all electronic marketing) to ensure re-distribution happens as soon as possible and this includes making sure to re-run or re-launch social media campaigns to get the word out in as many arenas as possible. Obviously the more marketing you can do to get the word out and making the effort to track down any previous “warm” leads to inform them of the property’s new found available status can significantly help your cause. Make sure to employ every method possible to proactively spread the word.

The most important trait you must exhibit under your current circumstance is patience. Patience in this situation is going to be the key to your sanity and give you the ability to wait out the process as it gets back underway. Focus on moving forward and working with your agent to get the ball rolling again. Realize that it is likely not going to happen overnight. Give it some time and trust your agent and their ability to spread the word! Hang in there, ultimately things will get moving in the right direction, but in a world where we expect everything now you might just need the realization that the new journey may be an opportunity for personal growth! Lastly, remember it only takes one showing (and one offer) to make everything better. Best of luck.

Dave Kimbrough
The Kimbrough Team

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We've had dozens of showings, but our home just won't sell...please help!

Dave,

We’ve had our house on the market for several years - with four different realtors. We’ve raised the price; we’ve lowered the price. According to our current Realtor, it is priced right. Comps are difficult because our house is unusual; most people seem to want a cookie cutter house. We’ve followed all the usual recommendations - cleared clutter, reduced furniture, painted, opened windows, turned on lights, have great photos and hired a stager. We’ve had dozens of showings and three main complaints: it’s a wood frame house, it has too many stairs (it’s 3 stories, 4100 sq. ft.), and it’s a reverse layout (millennials do not want children on a different level than parents). None of these can be changed without a major remodel. Our house is old (40 years - with us as original owners) and needs updating, but it is carefully maintained. I would appreciate any suggestions. If we lower the price anymore, we will be giving it away.

Lynn, Location Withheld

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Lynn,

Where to start? Your dilemma is one I have seen more times that I would care to admit and unfortunately it is somewhat likely you will not appreciate my solution to your situation. Although your current Realtor thinks your home is priced right, I will also assume that the previous three agents thought it was priced right and were apparently wrong since it still has not sold! One thing about your situation that is a little different is that typically in our market if a home is not priced correctly the market will eventually catch it. What I mean is that the market has been appreciating steadily and that over time it will eventually catch even the most overpriced homes…unless the pricing is just totally unrealistic. As I provide information to help you evaluate your situation keep in mind that when selling a home you can only control three things: how well your property is marketed, how well it is priced and the overall property condition. That’s right, when you boil down all the extraneous things people want to make selling a home about, these are the three primary things you can ultimately control, or have influence over, that will positively or negatively impact your ability to sell. 

It sounds as though from a condition standpoint you have gone to great lengths (clearing clutter, reducing furniture, painting and hiring a stager) to ensure your property is in great condition and is well prepared for showings. I am also going to read between the lines that since you have had “dozens” of showings that your Realtor(s) have marketed it sufficiently enough and your photos are good enough for buyers to find it and choose to come take a look. Ultimately a market stat that I have heard and used over the years is “for every 13 showings you should have an offer." I realize that that number may be 9 showings for some houses and 16 showings for others, but ultimately if you have had “dozens” of showings and no offers, you likely have a pricing problem.

To be totally honest, unique and dated can be a lethal combo. You narrow your buyer pool by having a home that has a “unique” layout and one that is in need of a cash infusion. The complaint about kids being on a different level is a very real issue for families with young kids (under 10). If a family has 3 teenagers then they are much more open to having them on a different level, but young kids and stairs everywhere is just not desirable, regardless of the generation. Let's also put into perspective the idea of updating a 4100 square foot house. The bigger the house, the more expensive it is to update. Updating a 4100 square foot home is much more expensive than updating a 2500 square foot house and to a younger family (and that is who buys large homes with multiple levels) the cost can be very intimidating and keep them from pulling the trigger. In order to “lure” them to buy, there has to be some significant monetary upside to putting in the work and money to bring it up to current tastes.  

“I believe your answer is relatively simple if your willing to hear it. You can keep the price where it is and eventually the market will catch you and you will find just the right butt the saddle or you can lower your price to make it more appealing to your target buyer. ”

I believe your answer is relatively simple if your willing to hear it. You can keep the price where it is and eventually the market will catch you and you will find just the right butt the saddle or you can lower your price to make it more appealing to your target buyer. To really solve the puzzle you must also find out what the buyers are buying instead of your home. Knowing what they are buying will tell you a lot about where you stand in relation to your competition and what you need to do to become more competitive. Remember, it is a competition and your perception of “giving it away” is clearly not the perception of the buyer pool thus far or your home would already be sold. Several years on the market, in this market, is too long. Stop and listen to what the market is telling you! Don’t hold it against me, I warned you that you might not like my answer! Make some adjustments to get more competitive and view your home through the eyes of your buyers and I bet your results will change.   

Dave Kimbrough
The Kimbrough Team

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