Archive for the ‘Selling Your Home’ Category

How Ozone Removes Odor

Thursday, March 1st, 2012

Ozone

Ozone (O3) is a form of oxygen (O2)that contains three atoms instead of two. It is slightly heavier than air, and at low concentrations smells slightly sweet, but at higher concentrations has a pungent aroma. Ozone is molecularly unstable and reacts quickly to revert to a more stable form.

How is ozone formed?

Nature forms ozone every day in a method that is very familiar – thunderstorms. When lightning occurs, ozone is formed by the high-voltage arcs that ionize the air. The air is freshened after the storm because ozone removes many of the impurities that are in the air.

How does ozone destroy odors?

Ozone breaks down, or changes, the molecular structure of the odor molecule. Ozone is an extremely powerful oxidizing agent, and it uses the third oxygen molecule to cause the odor to either reduce in complexity, or stabilize into a compound with less odor. Some odors go through several steps (requiring additional ozone), to be reduced to levels that are no longer detectable. Many odors can be reduced to simple carbon dioxide (CO2), water (H2O), and oxygen (O2).

How is ozone manufactured?

Ozone, due to its instability, has a very short life-span. This means ozone naturally returns to its original form of oxygen. Ozone must be produced when, and where it is needed. The most popular method of producing ozone is by “corona discharge,” which simply means generating a high voltage electrical field and passing air through it. Passing air through the corona converts approximately 1-2% of the oxygen into ozone.

How are the ozone units used to remove odors?

Ozone models are industrial ozone generators that are capable of high levels of ozone. These units do not use any chemicals, operate unattended, and need only occasional cleaning and maintenance from a company that specializes in professional odor removal and emergency cleanup. They contain electrical and electronic components to generate ozone, using only small amounts of electricity. Ozone output is 100% adjustable to match the odor levels. They are ideal for applications that need high ozone levels to remove malodorous situations such as garbage, fire and smoke, sewage, animals, decaying organic matter, chemicals, etc. Ozone units destroy odors, retard bacterial growth and slime production, and circulate the ozone allowing it to destroy the odor molecules. Industrial ozone generators are designed to be used in uninhabited areas, or used at volumes that are limited by OSHA or EPA regulations.

Tips for Preventing Holiday Home Invasion

Thursday, January 19th, 2012

This post was provided by Charla Housson, a realtor with expertise in Lake Travis ISD homes in Austin, TX.

The holidays are here!  For most, it’s the time of year filled with gifts, parties and family vacations, but unfortunately, it’s also “Christmas time” for burglars who reap the rewards of vacant homes and unguarded valuables.  Don’t be the victim of a holiday home invasion!  Follow these simple tips for preparing your home to ensure a safe and secure home this season.

Create the illusion of being home

Burglars look for signs of inactivity when deciding which homes to rob.  Be sure to take the extra steps of investing in a timer for lights, asking a neighbor to collect your mail and newspaper while you’re out of town, and pay someone to maintain your yard while you are away.

Out of sight, out of mind

Robbers know that under every perfectly trimmed Christmas tree are beautifully wrapped gifts.  Window displays are a great idea for those who are home for the holidays, but attract unnecessary attention to vacant homes.  Keep your trees and wrapped gifts out of sight if you plan to be away!

Hide the evidence

Some of us may be fortunate enough to receive fancy electronics, appliances, and other high-dollar items as gifts this year.  Just be sure to keep the “evidence” under wraps.  Break down and conceal product packaging in the trash.  Better yet, dispose of these items in a public dumpster away from your home.  Don’t give the crooks a reason to break in to your home!

Don’t broadcast your whereabouts

It is only natural to want to update your Facebook status, Twitter feed, and other social media channels with exciting news of your Christmas vacation, but resist the urge if possible.  The fewer people that know your home is empty, the less likely it will be burglarized.

Inform your local police department of your departure

In many town, police will keep an eye on your home if you provide them with your travel dates. Call the police station a couple of weeks before your vacation to let them know when you will be out of town so they can assign someone to patrol your area.

Taking just a few precautionary measures can help you ensure your home is not a target for burglars this Christmas.  Follow these tips and you’ll remain a step ahead of the thieves.

3 Reasons to Sell Your Home FSBO

Tuesday, August 23rd, 2011

Let’s do a little refresher course.

Today’s housing market is a huge industry, involving several different groups of realtors, banks, and customers. It can be daunting to think about selling your home yourself, or “for sale by owner” (fsbo) as it is widely known, but thousands of people do it every year and save money.

According to the National Association of Realtors, FSBO home sales accounted for nearly 10% of the market in 2010. The other 90% were agent-assisted. For sale by owner real estate has been a growing market and increasingly puts pressure on realtor agencies to sell at competitive prices and get the best deal for their clients. Here are the top 3 reasons that fizbo’s (slang for “for sale by owner” home sellers) decided to do the hard work without the assistance of a realtor and brave the housing market themselves.

Take Your Time and Avoid Stress

More often than not, homes sold through realtors are priced higher than homes sold FSBO. This is due to pricey commission rates for buyer/seller agents. Although they know the industry, using agents increase home prices which in turn increases the time it takes to sell. When you are your own realtor, you are free to market and sell your house at your own pace and with a more reasonable asking price. Agents also have the disadvantage of dealing with several properties at once, so they might be inclined to sell a home even though it isn’t selling for what its really worth in order to increase their turnover.

Attention

Typically in 2010, realtors were juggling several different properties on any given week. Realtors only have so much time that they can devote to your property, and depending on the asking price and how much they’re guaranteed on commission, certain homes could remain lower on realtor radars than others. Selling your home For Sale by Owner allows you devote the time and put in the extra effort to showcase your home in its most attractive light. After all, who knows your home better than you? The homeowner is the best seller.

Commission

Perhaps the biggest and most tantalizing reason to sell your house For Sale by Owner is the amount of money homeowner stand to save by avoiding paying agent commissions. Statistics show that agent-assisted homes typically sell for more than FSBO homes, and that is because realtors factor their commission into asking prices. If you’re working with a realtor who stands to get a 3% commission off a $250,000 home, that’s $7,500 dollars going to their pocket. Why not price the house lower, sell it faster, and save thousands of dollars by selling your home yourself?

Though the incentives are great, home sellers have to be prepared to do the work in order sell their homes successfully. Plenty of market research is necessary when determining an asking price, as that’s the biggest reason why certain homes don’t sell and others do. Several services are available online specifically for For Sale by Owner home sellers. Flat Fee Multiple Listing Services are cheap and get homes into databases of available homes and in front of the eyes of buyers. There are also services available to help with price negotiations, the sometimes confusing paperwork involved, and closing the sale. Yigdigs has several much-needed services to help FSBO’s sell their home fast and save thousands.

Yigdigs Is Now On Facebook

Thursday, May 5th, 2011

Hey folks!

It’s been sometime since the last post, but you’ll be glad to know that we’ve been working on more social media.

Now, you can get in touch with the Yigdigs community on Facebook.

Just go to our page and “Like” us. This will be your source for updates and information on all things FSBO and currently housing industry news.

So show us some love and check us out on Facebook today!

Foreclosures: Redux

Monday, March 28th, 2011



Let’s take a side step away from the “10 Things About Realtors” column to talk a little bit about an emerging trend in the housing industry.

FSBO’s and realtors alike are becoming more and more aware of the vast effect trends can have upon their endeavors in the real estate market. Staying savvy to the latest trends has been shown, especially of lately, to make the difference between success and failure in today’s highly variable market.

One recent trend that has caught many eyes is a growing shift towards banks utilizing the current abundance of foreclosed homes in today’s market, choosing to invest in their remodeling and the possibility that the general consumer will find one of these homes irresistible.

Acquired by banks after a borrower defaults on their mortgage, foreclosed homes are often in disarray and will merely continue to depreciate from neglect. Though, in this growing trend these homes are receiving high-value improvements targeted directly to the everyday buyer. A practice which is projected to be advantageous to the banks undertaking these “makeover” investments, as well as the general home buyer.

In fact, increases in general demand and the sales prices for these revamped homes are expected to have an overall positive effect on the real estate market as a whole. Yet, this new trend may only be treating a symptom of the overall predicament, as it does not prevent lenders from dealing with foreclosed upon homes in the first place. Thankfully, an outfit known as Bank of America has chosen treat this issue at heart, attempting to prevent borrowers from ever struggling with foreclosure at all.

Once the second greatest supplier of reverse mortgages, Bank of America has chosen to no longer offer these unique mortgages. Banks generally operate these mortgages by providing the home buyer must be 62 or older with monthly payments based upon the equity they hold in the home (fair market value of home minus all liens on the property). The bank would then take ownership of the home upon the buyer’s death or decision to move out.

By no longer offering reverse mortgages Bank of America is able to focus more determinately upon traditional mortgages, preventing the black scourge that foreclosed homes represent for the market from the start. So for what it’s worth there’s a much needed glimpse of hope in today’s tumultuous market.

8. Realtors Aren’t Lawyers

Sunday, March 6th, 2011



So you’ve come this far. You’ve made it past the taxing open houses the petty bartering and negotiating to get a price for you house that you think is fair, and now it comes time to sign that contract. Whether you are or aren’t working with a realtor to sell your home (in any capacity) it is imperative that you get all contracts and settlements reviewed by a legal professional. It is a sad day when the buyer finds out that he/she is financially responsible for the month you (as the seller) are still living in the home before the move-in date as a “rental tenant”.

Part of your job as the FSBO is to do the best job you can to ensure that everything runs smoothly. Even though you’re foregoing the use of a real estate professional, you still need to act in kind—as if YOU were the real estate professional—and a very convoluted and difficult part of the real estate transaction comes from the contract signing.

I know I’ve mentioned this before, but it doesn’t hurt to pay a little reminder to why legal counsel is the FSBO’s best friend.

Without being a lawyer, the contract can be a daunting endeavor. Legal jargon was never the strong point of the average citizen and often times there are causes and addenda hidden away within real estate contracts that would go unnoticed without the use of a fine tooth comb.

Who’s going to pay for the leftover furniture? Will the seller be forced to pay the buyer back for the two weeks they remained in the residence? These aspect of the home sale can be left un-discussed and undisclosed in the until someone complains and the other points to a tiny little clause in the contract.

According to www.wwlaw.com one of the main hang-ups in selling a house FSBO is “drafting sales documents to ensure that you comply with all appropriate State laws and protect your rights.” And they’re right. Without the help of actual, certified legal advice, you and your buyer are at the will of the contract. Even if the Buyer’s Agent comes with the contract ready, get it looked over. It could save you thousands of dollars in the end.

There are plenty of legal resources for the FSBO out there, especially online. Don’t let closing be your downfall. Several sites, including Yigdigs.com, offer ways to get assistance from real estate professionals. Other websites, like FreeAdvice, give anyone in the real estate business a huge repository of real estate legal professionals. A simple search is all it takes…

7. Realtors Don’t Like Inspectors (Unless They’re in Cahoots)

Tuesday, March 1st, 2011



I’m going to keep this one short.

Now this may be complete speculation, but I’m going to say it anyways because the internet is free press and as a real estate observer and writer, I feel I’m somewhat justified in my claim, if not completely: realtors sometimes don’t like inspectors (unless they’re in cahoots.)

As I’ve mentioned before, several times, and if you’ve followed this blog at all over the past year and a half, then you’re probably sick of hearing it, but realtors do have a certain code of ethics that they must adhere to, and sometimes they do things that aren’t necessarily in line with their code.

Home inspections are a part of the majority of real estate transactions, and as the frequency of home inspections has increased in recent years, there has been a growing concern of brokerages working with realtor-referred home inspectors. The problem arises in the field of conflicts of interests. In fact, stories have emerged about some realtor agencies actually forcing inspectors to lower their rates in exchange for jobs.

According to a New England-based home inspection service, Applewood Home Inspection, there is a growing concern for this conflict of interests and they proclaim on their website that they are not involved in the growing trend. 1goodhomeinspection.com cites the home inspector as a buyer’s “last line of defense” in order to ensure the validity of a home’s integrity.

“In my experience as an inspector,” one blogger writes from 1goodhomeinspection.com, “the vast majority of referrals come from Realtors. In my not so humble opinion this is significant error in judgment on the part of the buyer. I will say there are a few Realtors out there that do genuinely have their clients’ best interests at heart. This is significantly easier for the Realtor if they are working for the seller, but requires amazing moral fortitude when working as a ‘Buyer’s Agent’.”

So there you have it folks, something to look out for when dealing with realtors and inspectors. The real estate world can be a very strange place sometimes, and the more you know about what to expect the better off you’ll be.

5. The Ill-Conceived Notion of an Impartial Buyer’s Agent

Wednesday, January 26th, 2011



This one if for the buyers out there.

When hunting for a house out there on the market, there are several people you deal with. Unfortunately, most of all of those folks are attempting to sell you something based on the fact that they’ll get a commission out of it.

So, you go searching for that helping that’s just there to guide you and ask for nothing in return. You find a “Buyer’s Agent”. Contrary to common belief, these buyer’s agents don’t necessarily always operate in the buyer’s best interest. They’re working for a commission too—3%, which is usually what sellers get on sales. It has also been documented that many buyer’s agents are sourced by brokerages that pay them more to sell an in-house listing, so although this house may seem perfect and your agent may seem unbiased, you’re actually only seeing the one piece of the pie that they want you to see.

But who can blame them. It’s nearly impossible to remain unbiased when there is a financial incentive. It’s something that we call a conflict of interest here in the real estate world and it plagues more real estate professionals than you know. In fact, according to a study performed in February, 2010 at Carnegie Melon University, researchers found out that when there is a conflict of interests (such as financial endorsement) it is almost an unconscious act to favor that which might benefit you more.

“The evidence from Experiment 2 suggests that financial incentives had a stronger influence on public reports than on private beliefs. However, agents’ relationships with their principals acted as a more powerful influence on their private judgments than did financial incentives.” (Judgement and Decision Making, vol. 5, no. 1, February 2010, pp. 37-53)

This basically, means that folks who were asked to be unbiased, appraised the value of the test company higher when dealing with sellers and lower when dealing with buyers. There was a financial incentive in place to reward them on how high they sold the test company for and how low they bought the test company for. Researchers found that, when offered financial incentives, appraisals were much more biased than when all agents were paid a flat fee. (You can read all of this in scientific jargon if you click the link above and scroll down to Experiment 2.)

What I’m trying to convince you of is the fact that those completely objective buyer’s agents do not exist. It’s the commissions that sway their ethics. So next time you’re thinking about who’s really looking out for who in the real estate world, just remember this: it is every man for himself.

The Local Market Monitor Releases 2011 Predictions, Good for California, Bad for Florida

Monday, January 24th, 2011

2010 wasn’t the best year for the real estate market. After the short bump in sales due to that stimulus package, we saw relatively dismal numbers across the nation when the tax-credit was no longer available. Which means, realtors, FSBOs, and the real estate inclined are looking forward to the new year: a year of hopes, dreams, the realization of one’s true potential – hey, you might even sell a house too.

So as with all end-of-year lists, so too come the beginning of the year predictions and for the most part, things are looking okay. If you happen to live in the hard-hit areas of Southern California – a state not only swimming in shadow inventory and foreclosures, but also massive debt problems – you’ve got something to look forward to. It was projected by the Local Market Monitor, a North Carolina-based research firm that studied patterns and cycles in over 315 real estate markets across the nation, that those So-Cal metro areas (San Diego, Santa Ana, and San Jose) which faltered so hard last year look good for a comeback.

On the contrary, Florida cities that suffered greatly will remain so for the most part in the coming year, along with several western cities. “The big difference between Florida and Southern California … is people are moving into Southern California, but they’re not moving to Florida.” That’s Local Market Monitor President Ingo Winzer on why these two regions will fare so much differently in the coming year. Flordia property markets pertain a great deal to second homes and retirement homes. These properties are increasingly hard to maintain financially and increasingly harder to sell. However, the California markets are attracting newcomers, for their attractive city culture and the growing job markets.

This harkens back to much of what was said in late 2010: the real estate market is fatally linked with unemployment rates and income levels.

(Here’s a link to the original article.)

3. Agents Don’t Necessarily Tell You About Every Offer

Sunday, December 19th, 2010


Due to the nature of their business, real estate agents are very much tied into the same fate as the home seller. The offer accepted determines their payoff just as much as it does the seller’s capital return.

This presents a conundrum: Let’s say that the seller is really interested in getting rid of their house because they’re supposed to move to another city for a job next week, okay? And really, they would take any reasonable offer as long as it wasn’t a complete rip off. Then you’ve got the realtor, who is sort of aware of the fact that the seller is in a hurry to sell but not so inclined to take any offer that walks in the door. They’re looking for asking price or better.

It’s not uncommon that—in this scenario—the agent wouldn’t necessarily tell the seller about the offer that was 10K lower than the asking price they received last week from a buyer interested in moving in quickly. That would greatly reduce their commission rates, even force them to renegotiate their commission given the lower selling price. The seller working with the agent would have no idea of the offer and be wondering why no one was even sniffing at the property. This would of course send them into a manic episode of despondency and oblivion, forcing them to reconsider their new position in the company in a new location, their ability as an employee, father, husband, son, and lover, and ultimately catapult them into a deep, profound, downward spiral of loneliness and desperation.

Just kidding—that won’t happen…I hope. If it does then maybe you shouldn’t move in the first place. The bottom line is that not every agent does operates with this sort of clandestine self-interest, but they are out there.

Who can blame them, really? They probably know that somewhere down the road, a substantial offer will come along—it’s just going to take time.

Such are the pitfalls of working with an agent. You are at their will and they sometimes don’t operate with the sellers’ best interests in mind.

COMING UP NEXT:

WHAT AGENTS SAY BEHIND YOUR BACK, and…

THE BEST OF HOLIDAY HOMES!!!

STAY TUNED…

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