What is a home inspection and Why Should You Always Have One When Buying a Home?

What is a home inspection and why should you always have one when buying a home? A home inspection is performed by a qualified inspector hired by buyers to inspect a home prior to purchase and provide a detailed report regarding all components.

Frank Dolski Nov 25, 2015

Buying a home for the first time or the 10th time has one common factor: It may be one of the most important transactions that you make in your lifetime. So what is a home inspection? It is a thorough evaluation of the home by a certified home inspector. This encompasses a non-invasive evaluation of the major components, but not limited to the major components of a home, such as the structure, roof, plumbing, electrical, appliances, heating and air conditioning systems, the exterior, and the basement. It may also include out buildings, the garage, and inspections for termite/wood destroying insects and radon.
A certified home inspector would be hired to inspect the home and components to find if there are any material defects, items that need repair, services needed (heater evaluation, chimney inspection, etc.), and an evaluation of many of the components of the home and their life expectancy. The safety aspect of the components is also evaluated and recommendations are made by the home inspector. What a home inspection is not is an insurance policy or guarantee for the home. It is not intended to predict the future life expectancy of the home’s components, nor is it a report for cosmetic repair.
The home inspector visually inspects the home, writes a report and a defect summary accompanied by pictures of the defect. This is true for a home inspection and a termite report. In respect to radon inspections, a testing device is typically left at the home in a closed environment for a period of 48 hours. The results are evaluated against the standard that the EPA has set — an action level of 4 pCi/L. Anything at this level or above should be remediated. Inspections may also include water, if there is a well or septic. Usually these two inspections are performed by separate inspectors. A pool/hot tub inspection may also be requested by the buyers.
The buyer’s agent or attorney will review the inspector’s report(s) with the buyers and a request to repair items that are deemed defective are then negotiated within specified timeframes negotiated within the agreement of sale. The buyer may accept the property as is, request repairs, or in some cases, ask for a credit. The buyer may also elect to terminate the agreement based on the report. Credits are handled in methods that comply with the Real Estate Settlement Procedures Act (RESPA), which protects consumers from abusive practices and higher settlement charges.
Every buyer should have inspections on the property that they are purchasing, even if it is new construction. For example, if a buyer is involved in a foreclosure, the property is usually “as is.” In this situation I would highly recommend the home be inspected to ensure that the buyer is protected from purchasing an extremely defective home or on the other hand, give them peace of mind that they are fully aware of repairs or remediation that may be necessary after the purchase. In the example of new construction, I would recommend at a minimum that the home be inspected just prior to drywall installation to evaluate the structure, electrical, plumbing, and ventilation prior to drywall. The objective here would be to determine if defects are present or perhaps installation of such items was improperly installed. In any instance, always consider having a home inspection prior to making a purchase!

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/

How Home Sellers Have Changed over the Past Decade Results of the Coldwell Banker Seller Survey

Today's home seller is notably different than the seller of 10 years ago. The recession not only changed the housing market, but it also changed the way home sellers approach the sale of their home. The Coldwell Banker Seller Survey looks at approximately 1,500 home sellers and analyzes trends from before and through the recession, as well as the initial recovery years and today:

• 2014-2015 - Recent Years (Sellers Today)
  
• 2010-2013 - Initial Recovery Years
  
• 2008-2009 - Recession
  
• 2006-2007 - Pre-Recession
  
• 2005 and Earlier
  

How Selling a Home Has Changed Over the Years

Since 2014, more than one in four home sellers sold their home in less than two weeks after
putting it on the market.

Compared to the initial recovery years, more of today's sellers are receiving multiple offers.

The percentage of home sellers receiving offers above their asking price dipped during the
recession, but has now bounced back to pre-recession levels.

During the recession and initial recovery years, significantly more sellers took the first offer
on their home than are doing so today.

Today's sellers are nearly twice as likely to choose an offer based on emotion rather than
money alone, compared to pre-recession years.

Methodology
This survey was conducted online within the United States between April 27-29 & April 28-30, 2015 among 4,023 adults (aged 18 and over) among whom 1,545 are selling/ever sold a home by Harris Poll on behalf of the Coldwell Banker brand via its Quick Query omnibus product. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents' propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, the words "margin of error" are avoided as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in our surveys. The data has been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in our panel, no estimates of theoretical sampling error can be calculated.

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/

Great Family Home - #18 - 3425 East Boundary Road

 Move-in ready 4 bedroom 2000 sq.ft. home with grade level entry and in-law suite situated on a corner lot in Boundary Pines, West Kelowna. This is a great find and priced at $419,000

New laminate flooring throughout most of the main level, and extensive lighting upgrades throughout the property. Vaulted ceilings upstairs make this home feel very spacious and open.





 The raised eating bar in the kitchen can seat 3 or 4 and there’s also a nook for your table. The master bedroom has a great three piece en-suite and a spacious walk-in closet.







 Natural gas hook-up on the deck. Located within walking distance of Chief Tomat Elementary (there’s a path leading to the school grounds from the development) A short distance from all amenities and public transit as well as Lake Okanagan and Rotary Beach at Gellatly Bay. Boundary Pines is a small bare land strata and strata fees are $40 per month. This home shows A+

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/

New Listing - #142-2220 Shannon Ridge Drive MLS 10108784

Nestled in the heart of Shannon Lake this 2800 sq.ft. 5 bedroom family home is a great find.

 Open concept kitchen, full basement with games room and moveable bar, 2 bedroom and a full bathroom with radiant floor heating PLUS 3 bedrooms upstairs.  Master bedroom has a walk-in closet and a spacious ensuite. This home is walking distance to both Shannon Lake Elementary and Constable Neil Bruce Middle school making this the perfect choice.

Lots of extras too…RV parking, natural gas hook-up on the deck, cool sitting area in the backyard complete with fire pit. If you’re looking for an all-around solid home in a great neighbourhood give me a call today for your private viewing. Conveniently located as well to local transit and all the amenities one could need... also, imagine walking out your door and being literally two minutes away from the walking trails of picturesque Shannon Lake Regional Park! This one won’t be around for long. 

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/

Moving: What’s Good About What’s Hard

There is a silver lining when it comes to moving.

Lindsay Listanski 

No doubt about it, moving is hard: the time, the money, the stress. Whether you’re moving across town or across the country, you have many of the same problems, only at different levels of intensity.
Sure, moving brings on new adventures and opportunities, but it’s tough to see those things when you’re neck deep in boxes and bubble wrap. Even if the move is welcomed, it can be difficult to see light at the end of the tunnel. However, even the toughest parts of moving really do have their plus sides. Just put the packing tape dispenser down for a minute, and consider. It just might make moving a tiny bit easier.
A chance to revisit: Unless you’re the kind of person who just throws everything into boxes without sorting (and you’re out there, we know), you’re going to go through everything you own during the packing process. You’ll look into all the drawers, cupboards, closets, storage areas…and, well, look at that…you found your old high school yearbook. Hey, you looked good. And there’s the playbill to that special show you and you-know-who attended. And you finally found that sweater…how did it get there?
You can reconnect with your past while you go through the masses you’ve accumulated through the years. You’re multi-tasking in the best possible way: accomplishing a necessary task and getting some enjoyment out of it. A total win-win.
A chance to let go: As you revisit, you can also let go. Do you really both need and want everything that’s in your home right now? Can you let go of things that have painful memories…or no memories at all, anymore? (Just why are you saving that pile of videocassettes? You haven’t owned a VCR in years.)
Don’t be brutal and toss things you’ll miss, but you may be able to get away with whipping out your phone and taking of picture of that old track trophy. You’ll still have the memory, but the only space you’ll need is a teeny tiny bit on your phone. And bonus! Significant weeding can lower your moving costs.
A chance to visit: A lot of people find moving stressful because they’re leaving behind friends and family. Yeah, you’ll eventually make connections in your new location, but that doesn’t help now. But this might: you’re not moving to the moon. Seriously. Wherever you’re going, there’s transportation there and back again.
You can make plans to return, and your nearest-and-dearest can come see you. You won’t be separated by an insurmountable wall, or a moat, or an army of dragons. It’s just space. Plans for getting together with your besties will give you something to look forward to while you adjust to your new area.
A chance for a new beginning: OK, so it’s not a brand new home or apartment, but it’s new to you. This is the time to start fresh. As you unpack, really think where you want your stuff to go and how you want to arrange it. There’s no law that says you need to put the television in the living room or the microwave in the kitchen. (We know; we checked.) Think about where things would work best for you.
And the fresh start extends outside the boundaries of your home, as well. What have you always wanted to do that you never did before, because you couldn’t fit it into your old life? News flash: that old life is gone. Now’s the time to make some changes. Maybe you’re in a less populated area, so you can start riding your bike again. You know you missed it. Or perhaps you can try some neighborhood restaurants instead of falling back on the same old chains. Or _____________. You fill in the blank.
Bubble wrap. It’s the best. When you’re done unpacking, feel free to pop to your heart’s content. You’ve earned it.

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/

The List of Pet Peeves That Turn Homebuyers Off — And How to Avoid Them

Even if your home is priced right and in a desirable location, you may be offending potential buyers without ever knowing it. Here is our list of pet peeves that can turn a buyer off — and how to avoid them when selling your home.

Melina Gillies Nov 5, 2015

When someone is searching for a home to buy, gut instinct and first impressions are crucial to making a positive impact. Even if your home ticks all the boxes for you, there is a chance you may be offending potential buyers without ever knowing it. Here is our list of pet peeves that turn buyers off — and how to avoid them when selling your home.
1. Masking Issues
Whether it is odors or a failed foundation, masking potential issues to gain a quick sale could be a very costly gamble. If there are serious defects that you know about, a buyer could back out of the deal at the last minute, ask you to fix the issue or worse — involve you in a legal battle long after the deal should be done. Consider hiring a qualified home inspector to conduct a pre-sale inspection. An inspection gives you the upper hand in determining how to address the issue — and get top dollar for your home. No home is perfect. Be upfront about any flaws in your home and you will light the path to a smoother sale.
2. Overpricing Your Home
Ensuring your home is appropriately priced before hitting the market is an important factor in achieving a timely sale. Working with a knowledgeable agent — and trusting their advice — is your best bet in ensuring your home sells for what it’s worth. In real estate, the price you paid for a home has no bearing or guarantee on its selling price when you go to list. The market, condition of the home, and how well recent home sales have performed all influence what your home is worth, and having your house sit on the market because it’s overpriced will deter interested buyers.
3. Not Preparing Your Home For Sale
Buyers need to picture themselves living in your home. Giving them a clean, decluttered, and neutral space is essential. An abundance of knick-knacks, or greatly loved (but really worn out) furniture can be distracting, so consider packing them up before you list. Additionally, showing your home with overly bright, dark, or otherwise overwhelming colors can be off-putting to potential buyers who only see the price tag and effort to repaint. Repainting these rooms in a neutral palette may not be your personal taste, but it will allow a blank slate for potential buyers.
4. Making Showings Difficult
While keeping your house ready for showings and open houses can be stressful, the longer your home sits on the market, the more you will have to do it. Being inflexible with requested showing times or demanding to be present during showings can actually harm the sale process rather than help it, and may top a buyers list of pet peeves. Potential buyers will be more willing to work with you on the negotiations if you have been reasonable in their showing demands, and allowing them to view your home without you present will ease any uncomfortable feelings they may have about you being present.
5. Not Considering Your Pets
While your pets have a special place in your heart — and your home — not every homebuyer will share your view. Considering how your pets will impact buyers is an important step in depersonalizing your home. When preparing for viewings be sure that your pets are appropriately contained, as not to disturb buyers who want access to all parts of your home. If possible, removing pets from the premises completely is preferred, but if you can’t do that, ample warning through your agent is a must. Repairing any stained or damaged items caused by pets before you list will also help the overall impression your home makes.

I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/

Deciding Whether to Buy or Sell a Home First

Home buyers and home sellers each face their own challenges, but for many, the two processes go hand-in-hand. Most people cannot afford to own multiple homes, so the decision to move generally means both buying a new home and selling your current property.
If you are attempting to both sell your home and buy a new one, you may feel overwhelmed and could benefit from turning to your real estate agent for help. While some agents work only with home sellers or home buyers, others may be prepared to help with both tasks. If not, their firm may still serve both needs, or they may recommend an experienced colleague.

Buying a Home First

It may be impossible to perform the closings for both deals on the same day for several reasons. For example, when moving to another state, travel time may make this arrangement impossible or impractical. Even if the two deals are closed on dates very close together, you should expect a lapse between the two closing dates.
If you are buying first, be prepared to temporarily cover the cost of two households. If the first home does not yet have a buyer, or the deal is not yet finalized, be sure to keep the property you are selling in good condition.
Buying first may provide you with some logistical benefits. You can move furniture and personal belongings more conveniently from your old home into your new one without having to coordinate with a new homeowner.

Selling a Home First

When selling a home first, the most immediate problem becomes the need for a place to live between the two transactions. You may be fortunate enough to have relatives or friends living near either destination, and can try staying with them briefly.
You can also rent a home during this interim period. Home buyers may be willing to rent their new purchase back to you for a brief period while you complete your purchase of another home.
If you own only one home at a time, there are fewer overlapping responsibilities. It is a good idea to take some time at the beginning of the process to determine whether it will be easier for you to buy or sell. A real estate agent can help clarify the housing market conditions in both neighborhoods so that you can decide which step to take first.

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/