Now in our 3rd week of "stay at home" notice I have completed my continuing education credits and taken multiple seminars on how to handle this market as a small business owner/real estate
UTS - WTH?
My team and I just wanted to share some thoughts on the end of the year market with you.
1) It is a great time to buy new construction. The end of the year is the absolute best time to have some negotiating power. The builders may have inventory they refer to as "specs" on the books. These are homes that most likely the original buyer's financing has fallen apart. Builders would like these homes off the books before the new year. Remember the builder does not usually entertain a lowball offer on the sale price because the next couple of homes sold are effected by the appraisal and SOLD price of homes sold in the prior 6 months. You most likely will be able to negotiate your closing cost or finishing the basement. Remember the builder's office staff is just that, they work for the builder. You MUST take representation and it cost you NOTHING to do so! Call us to advocate for you and help you get the best price possible! Do not just walk in the sales office and sign the offer!
For a list of specs that are available let us know what county and price point you are interested in seeing.
2) UST - Do you know what and UST is? Not a disease... It is an underground storage tank for oil! When buying homes that are built 1960-1990 there is a good chance there might be a buried oil tank on the property, especially if it is still operating with an oil burner heat source. I have been dealing with the oil company that has just been filling it up for years but no one has bothered to inspect it to make sure it has not rotted out. What is wrong with this picture? So.... Now an inspection has been completed and the tank is leaking oil into the soil and the EPA has become involved. The soil and tank have to be removed and all reinspected. UGH!!!
Virginia has a program that "absorbs" all costs but 500.00 because the EPA would like to see all these tanks cleaned up. It can cause a huge unplanned delay in the sale of a home. Be proactive instead of reactive is the best plan of action!
I am just amazed that the oil company did not ensure all was good before filling up for the last 20 years!
Do not hesitate to reach out with any questions BEFORE you buy or sell a home with an oil tank!
The Walden Team is hosting Pies and Smiles on December 7th. Santa will be there for pics with the kids and amazing holiday pies for all!
Call or text anytime to let us know you are coming so we have enough pies!
Hello, my name is Missy Walden! I am a military wife, mom of two young men, with a 20-year background in the medical community. I joined the world of real estate in 2006 when the bottom fell out! My....