Dale Samples

Real Estate Q&A: Fewer Pictures = More Problems?

Q: I was told that when there are few or no interior pictures mean that there are problems with the house. Is that true?

A: In short, No! Gone are the days of a weekly or monthly catalog being published of all the new listings on the market. In today’s Internet world, we have the opportunity to see the interior of the house before we even step foot inside.

The Kanawha Valley Board of REALTORS allow up to 16 photos per listing. Sometimes it is difficult selecting which 16 pictures best describe the property for sale. Why do some listings have as few as just one picture? The answer varies.

1. The listing agent prefers a marketing method of just offering a few tease photos to entice buyers to schedule a showing. Once there, the hope is that the buyer will fall in love with the home for sale and make an offer.
2. The home may be occupied and interior photos might be difficult to take because the house was a mess when the listing agent was there.
3. The seller did not want interior shots taken for fear of being subjected to possible theft by burglars casing the home via the safety of their own home.
4. Sometimes it only takes a few pictures to showcase the listing for sale. This is true for very small houses.
5. On occassion, there really are problems with the house. Consult with a REALTOR you trust to weed through these properties. Of course, with every home you should purchase Peace of Mind Insurance.

For my Charleston, Teays Valley WV homes for sale, I use all 16 photos because in this wired world, over 80% of buyers are starting their home search via the Internet and may not even consider your home if just a few pictures are available.

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You shouldn’t save money when buying a house..by skipping a home inspection.

It is a natural to try and minimize the cost of purchasing a home in Teays Valley, WV. After all, saving enough money for a down payment was challenging enough, now there are pre-paid costs such as homeowners insurance and taxes, and closings fees that need to be covered.

Not to mention the termite inspection and appraisal. Indeed, buying a home can be quite the work over for your bank account.

The oft mentioned mantra that “buying a home is one of the biggest financial decisions most people will ever make” is quite true. A home inspection is like buying Peace of Mind Insurance.

What Does A Home Inspection Do? During the home selection process, we show pictures or ask parents, relatives, or friends to accompany us. They add another pair of eyes in the event we aren’t seeing something, or too consumed with where to place the couch while moving in, or all the grand parties the beautiful deck will host.

A home inspection is like the parent or friend. The inspector is trained to look past the spacious living room or nice oak kitchen cabinets and root out any infractions or issues that could jeopardize the well-being of your largest investment now or later down the road.  He or she is an impartial person that will give you the plain and simple truth without fear of offending you and being left off the invitation list for the Christmas party. After a thorough check-up of the house, you will be presented with a report listing the existing problems or red flags.

How Do I Find A Home Inspector? Do not choose an inspector based solely upon price. Ask your REALTOR who they may recommend based upon their experience. REALTOR’s in the Teays Valley, WV market do not receive any financial compensation for referring a home buyer. Check with friends or family and see who they used in the past. Speak to various home inspectors. Do they seem eager to help you understand the process and not hesitant to answer any question, no matter how silly it may seem? Ask to see a copy of their report. Is it understandable and give a good insight into the house? What are their credentials? 

How Much Will This Cost Me? Actual cost may vary from inspector to inspector, but you should expect to spend to between $300 – $700. In the grand scheme, this is about the cost ONE mortgage payment.   

Image: Danilo Rizzuti / FreeDigitalPhotos.net

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Much press has been devoted to the housing market and it’s seemingly bottomless free fall. Truth of the matter is, if you are financially able and considering buying a home, this market is ideal.  Let’s explore three reasons why.

Interest Rates

Mortgage rates have plummeted to lows not seen in over 50 years.  A Freddie Mac survey reports that a 15 year fixed mortgage is now 3.14%. If you were to obtain a mortgage for $150,000 four years ago, the payment would have been $1277.16. That same mortgage today would save you $231.16 a month. Over the life of the loan, the savings would total $41,608.80!

Affordability

Scan the Charleston WV real estate listings for sale and you will notice that there are numerous homes of good quality that are surprisingly affordable for someone of even a modest income.  Compare our average sales price to those of similar size and amenities in other states and it quickly becomes evident that they are a steal. The National Association of REALTORS (NAR) confirms that Charleston WV residents have one of the most affordable markets in the country. Homeowners in the Charleston area only commit approximately 11% of their income to the monthly mortgage payment, whereas the national average is 22%.

Stability

Splashed across newspapers and websites around the United States is story after story of houses worth double digit percentage points less than when they sold a few short years prior. The Charleston WV market has proven itself to be very stable. In fact, forecastchart.com reports that the historical home appreciation has only declined 1% in the last five years.

Low mortgage rates, incredible affordability and stability are the hallmarks of the Kanawha Valley housing market. Contact me today and grab hold of a piece of the American dream for yourself in 2012.  

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