Invisible Fences shouldn't be an invisible Problem at closing

A discussion broke out in my office yesterday regarding invisible fences. You know, the kind you use to keep your dog in the yard. The dog wears a special collar and receives a small jolt of electric shock when he gets too close to the "invisible fence" which is a wire buried a couple inches below the surface of the yard.
The wire and control panel have to be considered part of the house and would, therefore, convey with the property. The dog collar, contrary to my instincts, is personal property and does not convey with the house. For health reasons it makes sense; you don't want some mangy mutt's collar on your precious dog. I have to tell you though, without the collar, the fence is a mute point.
In my mind, it's similar to taking the garage door opener with you when you move. The obvious difference is that the opener won't work with your new garage door but the old dog collar will work with a new dog system - you simply adjust the frequency. Depending on the size of the dog, these could run a couple hundred bucks so either use me to help you buy or sell your home since I think of everything, or tell your Realtor to be sure to spell out in the contract which dog gets what. That goes with dog houses too.

April Flowers Bring May Closings

Is your magnolia tree blooming? Are your Tulips coming up (if the squirrels didn't get them over the winter).
Buyers love this and it helps set your home apart. If your home has been listed for more than a couple weeks, take some new pictures of the outside and tell your Realtor to put them on the MLS, better yet, have them take the pictures. Better yet, call me and I will come over and list your house and take the pictures.
And buyers, pay attention to what is seasonal and what comes up year after year. You don't buy a house for the landscaping but it sure helps.

The Columbus area Real Estate Market

yep, it's still a buyer's market.
A couple years ago, sellers were getting some out of this world deals but now they are competing tooth and nail for every buyer. Spring is here and along with the flowers, for sale signs are sprouting up everywhere making an already crowded market into a veritable smorgasboard for buyers.
Smart sellers are pricing their homes exactly right, there is no room for markups in this market. Thinking of putting your home on the market? Think about having more than the next guy--more spotless, more organized, more clutter-free, maybe a wine fridge, maybe a new countertop, maybe a new vanity or new high efficient furnace.
If a buyer perceives more, more is good. As long as the accompanying price tag is not more. For the same money, Why not go for the house with the . . . . . . .(fill in the blank).
Don't blame the messenger, I'm just telling it like it is.

FHA Loans are now a little easier to get

This change was made as of Jan. 1, 06 but I still see some of these conditions having to be repaired as part of the FHA process. I know lenders are mostly aware of this as are most appraisers. To you, the home buyer or seller, it means being able to buy a house without having to negotiate repairs such as paint, handrails and cracked sidewalks and being able to sell your home to more people without the hassle of having to fix the nit-picky items FHA used to dwell on.
This is direct from the FHA to lenders:

FHA PROPERTY INSPECTION REQUIREMENTS

EFFECTIVE WITH APPRAISALS COMPLETED JAN 1, 2006 AND LATER, FHA NO LONGER REQUIRES THE FOLLOWING MINOR CONDITIONS ON EXISTING PROPERTIES TO BE REPAIRED.

* Missing handrails
* Cracked or damaged exit doors that are otherwise operable
* Cracked window glass
* Defective paint surfaces in homes constructed post 1978
* Minor plumbing leaks (such as leaky faucets)
* Defective floor finish or covering (worn through the finish, badly soiled carpeting)
* Evidence of previous (non-active) Wood Destroying Insect/Organism damage where there is no evidence of unrepaired structural damage
* Rotten or worn out counter tops
* Damaged plaster, sheetrock or other wall and ceiling materials in homes constructed post – 1978
* Poor workmanship
* Trip hazards (cracked or partially heaving sidewalks, poorly installed carpeting)
* Crawl space with debris and trash
* Lack of all weather driveway surface

It is strongly recommended that a Home Inspection be done (approximate costs $250.00 - $450.00 that Borrower is responsible for). If any of the above items or additional repairs/conditions are found during a home inspection, these must be addressed between the Borrower/Seller prior to closing the loan.

FHA no longer mandates automatic inspections for the following items and/or conditions in existing properties.

* Termite Inspection (unless Appraiser notes active infestation)
* Well Test (individual water system) unless required by the Appraiser
* Septic Test (unless Appraiser notes evidence of system failure or use of a Water purification system due to presence of contaminants)
* Flat and/or unobservable roof or 3 layers or more

If the Appraiser requires any of these inspections they must be completed prior to closing and the cost will become part of your closing costs.

You may request any of the above inspections to be done prior to closing. These inspections must be signed off on as “acceptable” and the cost is your responsibility.

Your Lender, will assist you in the financing of your home, however, we are not responsible for any repairs/conditions related to the property. Therefore you should take all the necessary steps to assure you are satisfied with your purchase including a home inspection and other inspections.




Borrower Date Co Borrower Date

*Thanks to Randee Estep of Colony Mortgage for providing this form