Ellicott City Realtor Catonsville Realtor

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Carroll County Real Estate Market Update, August 2009

Great Starter Home on a Quiet Street
$154,900
Updated windows, siding and roof on this very well maintained property

• 2 Bedrooms
  
• 1 Bathroom
  
• Large rooms throughout home
  
• Large fenced in yard with pool, deck & huge garage
  
• Sunroom overlooks rear yard
  
  
  Click here to request more information
  
  

  Tim McIntyre, GRI
  tmcintyre@cbmove.com
  Facebook friends click here to see the full post.
  Visit my website at www.timsellshomes.com.
  Ellicott City Realtor, Catonsville Realtor serving Howard County, Carroll County and Baltimore County for more than 25 years.

  
    

Life Expectancy

We all know how home inspections can go.  We know there are good inspectors, and some are not so good.  A good inspector can explain things to buyers in terms that are very unemotional.  Unfortunately, there are some inspectors that inject more than their professional opinion about certain issues.

"Life expectancy" is a term used by home inspectors, generally in reference to certain systems or components of a house, such as a heating unit or roof.  Recently I dealt with a home inspection issue regarding life expectancy.  I represented a client in respect to a house that has two zone heating.  The first floor heat pump and condenser have been replaced and are operating fine.  The second floor's heat pump is 21 years old.  The "life expectancy", according to the home inspector, is 15 years.  The unit is operating fine.

When the heat pump on the second floor needs to be replaced, there is not adequate access to do so, which may mean additional costs for replacement, above and beyond the cost of the unit.  As you might guess, the buyer wants a credit of several thousand dollars toward a new heat pump.

Part of this whole business of "life expectancy" has to do with inspectors putting it into their report, maybe so that they are not left open to litigation - but is "life expectancy" really fact?  They put it into the report as a generalization, without really knowing how long a unit may or may not last.  I have a boiler in my home that is 40 years old - well past any inspectors "life expectancy".

In these circumstances, a seller will generally say, "The unit is working fine.  I'll have it serviced and that's all I will do."  Sometimes that is enough to satisfy the buyer, and sometimes it is not - usually it depends on how the issue was presented to the buyer by their home inspector.

What my thoughts are is to have the seller purchase a one year warranty.  Most real estate companies offer this type of warranty.  The warranty would allow for repair or replacement of the unit if needed within the first twelve months.  This at least provides some protection for the purchaser.

It's always important for me to calmly and rationally approach a situation from my professional experience, and not so much what I think personally, irrespective of who I represent in a transaction.

What are your thoughts about life expectancy?  Have you run into this challenge, whether selling or buying a home?

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Baltimore County Real Estate Market Update, August 2009

Extraordinary Opportunity in Western Howard County
Kalmia Farms Property - $700,000
Price Reduced $75,000 on Lovely 4.5+ Acre Lot With Pasture, 4 Stall Horse Barn, Fenced Paddock!..
Bring your horses and move right in!

• 4 Bedrooms
  
• 3.5 Bathrooms
  
• Heated In Ground Pool with Hot Tub and Deck
• Walking Trails, Private Enclaves, Mature Trees
  
• Master Suite features a Brick Fireplace and Luxury Bath
  
• Large Family Room with Cathedral Ceilings and Wood Floors
  
  
  Click here to request more information
  
  

  Tim McIntyre, GRI
  tmcintyre@cbmove.com
  Facebook friends click here to see the full post.
  Visit my website at www.timsellshomes.com.
  Ellicott City Realtor, Catonsville Realtor serving Howard County, Carroll County and Baltimore County for more than 25 years.

  
    

Every Monday I send out statistics on my blog and on Facebook.  More and more people are contacting me and are wondering about the Real Estate market - what do I think?  Do I think it's starting to turn around?

U.S. Federal Reserve Chief Ben Bernanke, speaking at the Brookings Institution yesterday said during a Q&A that the recession is "very likely" over, and that the "recovery is likely to be relatively slow at first", and ending his prepared remarks with "although we have avoided the worst, difficult challenges still lie ahead".

What I have been seeing in the Real Estate Market mirrors what Mr. Bernanke is saying:  I've been seeing a lot more activity and calls from buyers in recent weeks.  I've actually had competing offers on a property, a situation I have not seen in a couple of years.  .  Though activity has increased, we're not in for a steady climb right back up - the turn around in the Real Estate Market is likely to be slow going.

It does seem to me like we're at "the bottom", and that a slow come-back is starting.  Fortunately, in Howard County, people will always be motivated by location (location, location).  We are very fortunate to have a solid foundation, in that our area provides plenty of government jobs for both the Baltimore and the Washington DC areas.  We also have the added benefit of a great school system.

What's your opinion?

 

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Howard County Market Report August 2009

Welcome to “Westchester Oaks”
444 Neepier Road, Catonsville
$549,000
Unbelievable attention to detail in this custom built home in the heart of Catonsville
Generously sized gourmet kitchen features granite countertops, professional stainless steel appliances, 42” cabinets

• 4 Bedrooms
  
• 4.5 Bathrooms
  
• Family Room with Gas Fireplace
  
• Finished Lower Level complete with a Full Bath, great for a Recreation Room!
  
• Formal Dining Room and Breakfast Room
  
• Master Suite with Luxury Bath complete with a 2 person soaking tub and separate shower
  
• All Bedrooms feature walk in closets
  
• Main Level Laundry Room complete with shelving and sink

Click here to request more information

On vacation in Ocean City, MD:

 

One of a Kind Brick Home
$149,900
Large L-Shaped Fully Finished Basement Rec Room / Family Room with Bar
Semi-detached city home with off-street parking

• 4 Bedrooms
  
• 2 Bathrooms
  
• Air Conditioning
  
• Fenced Rear Yard

Click here to request more information