We Feel Lied To...

Dave,

After moving into our house, a neighbor told us that a few years before a man had committed suicide in the kitchen.  We would not have purchased our home had we know this had happened in the house.  Do we have any recourse other than simply selling the house and moving on or accepting what happened and making the best of it? Surely someone should have told us about what happened!

William, Grand Junction

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William,

I am sure the news came as a shock to you and your family and I have no doubt that it may make it more difficult to live there, knowing what happened in the home.  Unfortunately, in your case,  Colorado has no requirement to disclose such details about any property being sold.  Under and Exclusive Right-To-Sell Listing Contract, Section 5.2.5 deals with situations like this.  It specifically states the broker shall NOT disclose “any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the property”, without the informed consent of the seller. 

It is at the sole discretion of the seller to disclose or not to disclose.  It is likely that your agent did not have any knowledge of the act and quite possible that the listing agent did not know.  Even if the listing agent had knowledge, he/she can not disclose it without the sellers consent.  Bottom line, if the seller chooses not to disclose, it is highly likely a buyer would not find out till after the fact.  

I believe the intent is to not stigmatize a property because of a senseless act that was not the “fault” of the home and thus seriously impact the marketability and value of the home.   You will have to decide what is best for you and your family and I would remind you that you do not have to disclose what happened if you choose to sell.  My suggestion would be to make the best of it.  It is you chance to give this home a “second chance” at being a happy home and making it a home that is filled with peace and love and turning a bad past into a bright future!!  A home is what you make of it, moving forward, not what happened in the past.  Obviously you will choose which way to proceed, but you might find it an opportunity for your family to choose a path of healing and turn the page on a past which was filled with hopelessness and fill it with hope. 

I hope this helps and I will bet you can give this home a new start!!

Dave Kimbrough

The Kimbrough Team

RE/MAX 4000, Inc.

Is Now a Good Time To Buy?

Dear Dave,

It looks like interest rates are going pretty low. We are thinking about taking the jump and buying a house. Do you think that now is a good time to buy considering the rates or should we wait until after the first of the year?

We have heard many different opinions on the time of year to buy a home and just aren’t sure of when to proceed.

We would like to know what you think. Thanks for the time- 

Jim and Sherri - Grand Junction, CO

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Jim and Sherri,

Yes, I believe it is a great time to purchase a home!  We talk about it all the time with our clients and prospective clients.  If you believe you are going to be staying in your home for over 3-5 years then I believe buying at today’s interest rates (again at a multi-year low) is a really good idea.  As for the time of year…. I believe any time of year is a good time of year to buy, as long as it is the right time for you and you find the right home!  I believe the home you live in should be more than an investment, it should be where you want to shape your life and create memories and if you find that place, then that trumps the right/wrong time to buy! 

Who knows what next year will bring… higher prices?  Lower prices? Higher rates? Lower rates? Economic stability? Economic turmoil?  Who knows?  That’s why I subscribe to the “if the time is right” philosophy.  On a personal note, I have many times been hesitant to make a move because of future uncertainty and come to later realize that the uncertainty I was concerned about never materialized.  It was more my own concern about making the wrong decision that I got in the way of making the right one!  Often times the right decision is simply the decision we make, because each of us has a significant impact on the outcome of our decisions!  I will say this in close, don’t pass up on wave after wave looking for the perfect ride, make the most of the wave you catch and you just might get the ride of your life!  Good luck and make the most of whatever path you decide to take.

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

Can We Perform Our Own Home Inspection?

Dave,

My husband is a home inspector, can he inspect our house we want to purchase?

Anita, Grand Junction

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Anita,

Absolutely!  There are no rules regarding who can and can not inspect a home!  In fact, many of the inspections performed on our listings each year are done by the buyers themselves or one of their relatives.  You can choose whomever you want to do your home inspection or even waive the inspection all together.  We always encourage buyers to perform a home inspection by a reputable home inspector so if you are married to one then you probably know one! : ) 

I hope everything checks out great and you love your new home! 

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

Common Home Buying Questions Answered!

Dave,

I’m going to start looking at purchasing a home this fall and I have a few questions about the process. About how long does the home buying process last for most of your clients? I know you’ve worked with a lot of people and will have a pretty good idea of what the average time frame looks like. I’m planning several trips this fall and winter and want to make sure I’m settled into my new home before leaving. Also, about how many houses should I look at before making an offer on one I like? Is there a good number to use as a gage? If I find a home that checks off most items on my list, should I continue looking to make sure it is the best option or just put in an offer? I’ve heard you should go with your gut, but I’m not sure if that’s the best advice.

Thanks for your guidance!

Jeff, Fruita

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Jeff, 

All great questions. The home buying process can be overwhelming if you let it, but you are starting the process by asking some great questions and clearly will be entering the fray with a laid out plan! Keep in mind that you are entering the housing market at a time that is moving quite briskly. When you are shopping for a new home in a hot market you have to throw some caution to the wind or you will constantly find yourself on the outside looking in and missing out on home after home. 

The length of time the home buying process takes depends on each individual. Everybody learns at a different pace and everyone evaluates homes and the market just as differently. It’s funny, sometimes we see a husband who is very cautious and a wife that is eager to pull the trigger! Their yen and yang is probably why they work great as a couple, but the same yen and yang can prove very difficult during the home buying process if they are not working synergistically. I would recommend you don’t put a time limit on yourself, but do make sure to spend enough time to get educated about the market and the houses in, above and below your targeted price point. This may take one day for some or 30 days for others. It purely depends on the person. 

The number of houses you look at is also individually subjective, but you need to see enough houses in and surrounding your targeted price point to make sure you can identify a good (or bad) deal when you see one! Your agent should be able to help you identify what is a good deal and what’s not, but you want to make sure you have a good feel for that on your own. 

Once you feel like you have a good feel for the market and start looking in earnest don’t be afraid to jump if you find the right one quickly! Listen, if my wife had not jumped when she did, I am confident I would have been swooped up by another looker shortly thereafter! All kidding aside, the good ones go fast (and that’s what I keep telling her) and if you wait, someone will swoop in and snag it! If you have educated yourself properly about the market then this is where you should trust your gut. Trusting your gut is easier to do, with confidence, when you have spent the time educating yourself about what you are doing.

“If you find a house that checks off most, but not all of the items on your list, don’t just overlook it and pass it by because it may very well be the one.”

Remember house hunting is full of trade-off’s. You will NEVER find the perfect house. Show me someone who is looking for the “perfect” house and I will show you someone who is wasting their (and their Realtor's) time and will likely end up very frustrated. If you find a house that checks off most, but not all of the items on your list, don’t just overlook it and pass it by because it may very well be the one. I believe when you see the one, you will know (or at least have a good idea) it’s the one! When I found my personal house it was a disaster, but I knew it was the one! It had many, many flaws, but they paled in comparison to its strengths and I could see the end result even back then. 

Bottom line, when you shop for your new home, be aggressive. Being passive won’t get it done if the house is new to the market. Sometimes it does take time, but don’t be afraid of fast because sometimes fast is the most fun and packs the biggest reward. You are going to do great and I have no doubt you will find the perfect house.

Dave Kimbrough
The Kimbrough Team

Have a Question? Ask Dave!

What does a price reduction mean from a home buyer's perspective?

Dear Dave,

We are actively shopping for a home. We have been looking for about 3 months now and just haven't found the right place for us. As we keep looking, we have noticed the price drop on a couple of the houses that we have looked at. What do you think it means if a house drops $10,000 in price? Would now be the time to go in and make an even lower offer on the house? Is it worth it to settle on a house that might not be exactly what we want, if we can get it for a really good deal?

There sure is a lot to consider when deciding to buy a house! Thanks for any feedback you could give us.

Jack and Stephanie, Grand Junction, CO

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Jack and Stephanie,

Shopping for a home can be painstaking sometimes and requires the patience of Job to find just the right home. It is great that you can afford to be patient and have the time to really look, however, sometimes you can start to overthink things and get caught up in a vicious cycle of “It’s just not quite right." Be careful not to get so caught up in finding the “perfect” house that you miss out on the “perfect” home! There is a significant difference between a house and a home.

Searching for any home is a process of give and take and I would say that there is never a “perfect” house, but there are “perfect” homes!! There will be sacrifices and knowing that everything will not be perfect from a house perspective might help open up some avenues to finding your perfect home. In some price ranges, mainly over $400,000 in our market, you can see price reductions as there is a bit more inventory in those upper price points. In the price ranges under $400,000, our market is still moving quite brisk. 

“Many times buyers interpret that a price reduction means a seller is desperate or there is a problem with the house. That is sometimes true, but typically it simply means that the seller is listening to what the market is saying.”

Many times buyers interpret that a price reduction means a seller is desperate or there is a problem with the house. That is sometimes true, but typically it simply means that the seller is listening to what the market is saying. I say it all the time, selling real estate is not rocket science! If a home is for sale and it is getting showings and no offers, the price is likely too high. If a home is for sale and is getting no showings either the marketing is bad or the price is too high. I will not get into all the reasons the price may be too high, as there are too many to list, but it is safe to say that if a house is a good deal there will always be someone there to buy it. Almost regardless of the market conditions. Price reductions are generally a sign that a seller is listening to what the market is saying, nothing more.

After a price reduction is a great time to make an offer, as generally price reductions open the door to a new pool of buyers and generate increased activity. Ultimately, when priced right, conditioned right and marketed right, any house will sell and being the first to make the offer increases your chances of getting it. After a price reduction, you may be met with some seller reluctance to reduce even further, however, if you don’t try you won’t know. Make the offer and see what happens. The worse that can happen is they say no. 

Your last question is a good one, should you settle if the deal is good enough? I always say that the house does not make the family, the family makes the house a home! If this is true then it does not matter in what or where you live. I am aware this is being overly simplistic so before you settle you have to ask yourself, “Can we truly be happy and at peace in this home?” If the answer is yes, then go for the good deal and you won’t look back. If the answer is no or I am not sure, then no deal is good enough or worth the risk! There is a lot to consider and it sounds like you are asking all the right questions. I bet you find the “right” home soon! 

Dave Kimbrough
The Kimbrough Team

Have a Question? Ask Dave!

3 Golden Tips for Home Buyers and Sellers

Dave,

I know you have a ton of experience in real estate and you give great advice in this column every week! So I’m just curious: If you could only give one piece of advice to someone who is about to start the home buying process, what would it be? And on the flip side if you could only give one piece of advice to a home seller what would it be?

Thanks in advance for helping me sound smart the next time my friends and I talk real estate!

John, Grand Junction

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John,

Thanks for the compliment, at least one of us can seem smart when hanging with our peeps! That is a very interesting question and one that takes some thought! I am sure that if you ask me this question in six months at least one of these will change! I am not sure I can keep it to just one thing for each, but I will try. As my friends will tell you, I am pretty verbose. As my mom used to say, he rattles like an empty wagon! With that being said, let’s tackle the buyer advice first.

For the answers here I turned to our two most experienced buyers’ agents, Jan Kimbrough Miller and Cyrie Wortmann. They both work extensively with buyers and know the buying process better than anyone I know. Remember, every agent will have varying answers, but these two are awesome! 

“Make sure you have no weak links in your team of lender and agent...one without the other is no good.”

— Jan Kimbrough Miller, Buyer Specialist

Jan’s one thing was, “make sure you have no weak links in your team of lender and agent...one without the other is no good.” Let me tell you, this is awesome advice! If you have the best lender and are ready to purchase, but have a half devoted agent, you will likely miss the perfect house. On the flip side, if you have the most aggressive agent who is Johnny on the spot, but your lender stinks and you fail the loan process then you will also miss out on the perfect house. The quality combination of your lender and agent are your key to success.

“Remember there will always be compromises. Avoid the trap of overthinking or paralysis by analysis and learn to trust your gut!”

— Cyrie Wortmann, Buyer Specialist

Cyrie has more experience than anyone on our team and her advice is equally important! “Remember there will always be compromises. Avoid the trap of overthinking or paralysis by analysis and learn to trust your gut!” Again, this is timely and sage advice. As our market becomes more and more competitive being hesitant can be the difference between getting your dream home or letting someone else get it! God gave you a gut feeling, trust it and go with it! Both of these are awesome!  

“Clean means more money and less time on market.”

— Dave Kimbrough, Listing Specialist

Ok, moving on to sellers...Since I am a listing agent, I did not solicit anyone’s advice on this answer and I will avoid the temptation of jumping on the low hanging fruit of making sure you choose the right agent! That one is too easy! My number one piece of advice would be that “clean means more money and less time on market”. Who doesn’t want more money and who doesn’t’ want to sell fast? Duh! Make sure to have your home completely dialed in and show ready. A clean house makes a wonderful first impression and the first impression is the most important. When you are dialing things in, make sure not to forget about the outside. Listen, if the inside sparkles but the outside is ugly or neglected, forget about it. Buyers will pass you by. Make sure you have the full package of inside and out ready to go! Next, remember that 92% of buyers start their search online and their first impression of your home will almost always be from your electronic footprint. If your home’s photos (both drone and still), virtual tour, website penetration, Facebook and Instagram presence are not top notch, it will cost you showings and limit your ability to sell. I see it all the time, bad photos and a lame virtual tour… there is no excuse in today’s day and age. If your home has a bad/subpar electronic footprint then you are entering a street fight with a patch over one eye and one arm tied behind your back. There really is no excuse for a poorly executed electronic presence, but you would be amazed at how bad some are. Your homes electronic footprint has to be spot on! 

Hope these help and although there are many more super important tips, these will ensure that you get off to a great start when buying or selling and also make sure you seem super smart and keen to your friends! Lastly, it is Fathers Day! Time to thank dear old dad for all he has done over the years. Remember, its hard work being a dad and none of us came with an instruction manual. Stop long enough to say “I love you” and “thanks for being my dad” and I bet by doing so it might make the day for both of you! 

Dave Kimbrough
The Kimbrough Team

Have a question? Ask Dave!