JULY 19, 2017 • Volume 12 • Issue 29
RE WEEKLY RESIDENTIAL • ACREAGE • FARM • COMMERCIAL • AREA DEVELOPMENT 515-233-3299 • 317 5th Street, Ames • All REALTOR® ads within are REALTORS® licensed in the State of Iowa
Online at www.AmesTrib.com/realestateweekly
Page RE2 • REAL ESTATE WEEKLY • Wednesday, July 19, 2017
REAL ESTATE WEEKLY • Wednesday, July 19, 2017 • Page RE3
Realtors, do you want to reach a wider group of potential buyers? Advertise in the RE Weekly. In print and online.
Call Ali Eernisse 515-663-5956
Page RE4 • REAL ESTATE WEEKLY • Wednesday, July 19, 2017
REAL ESTATE WEEKLY • Wednesday, July 19, 2017 • Page RE5
DEAR MONTY
What should a home seller disclose?
RICHARD MONTGOMERY
D
EAR MONTY: We are preparing to sell our home and want to know what must a home seller disclose and what we are not obliged to disclose. What does the seller’s condition report cover and where does a homeowner’s responsibility to disclose end?
MONTY’SANSWER:Most every state has laws and requirements for a home seller to furnish a condition report. Many states have a pre-approved form that a seller must complete and provide to the buyer before preparing a purchase agreement. The requirements a seller must adhere to vary by state. Fairness is the underlying principle driving these requirements. As a general rule of thumb, any defects that affect the value of a home are the disclosures the law requires a seller to report. Prelude from an actual seller condition form: “In this form ‘am aware’ means to have notice or knowledge. In this form ‘defect’ means a condition that would have a significant adverse
effect on the value of the property; that would significantly impair the health or safety of future occupants of the property; or that if not repaired removed or replaced would significantly shorten or adversely affect the expected normal life of the premises. “The owner discloses the following information with the knowledge that, even though this is not a warranty, perspective buyers may rely on this information in deciding whether and on what terms to purchase the property. The owner hereby authorizes any agent representing any principal in this transaction to provide a copy of the statement, and to disclose any information in the statement, to any person in connection with any actual
or anticipated sale of the property.” In the language above, “significant,” or “significantly” is sometimes a matter of opinion. If a home is worth $500,000, is $1,000 repair significant? Consider the practice of disclosing more, as opposed to less, to avoid future conversations over the word. Better yet, make the repair, so it is no longer a disclosure issue. If you cannot afford the repair, issue a credit for the buyer to make the repair in your offering. You can often eliminate condition problems with a professional inspection before you place it on the market. Send Richard Montgomery questions at DearMonty.com.
First-time homebuyers feeling the anxiety
R
eader question: We are looking for homes we can afford through online real estate websites. We are not married. We have extreme anxiety about actually contacting real estate agents and starting to look “for real.” Monty’s answer: The anxiety
you are experiencing may be a result of either the lack of information, or conflicting information, or both. Consider such anxiety a good thing, as opposed to people who rush to the market confident, yet uninformed, wasting time and making costly errors. Extracting real estate from a
broken relationship is one of the most frequent subjects from Dear Monty’s readers. Seek a legal opinion and guidance to have a partnership agreement drafted, or reviewed, by a real estate attorney. Buying a fixer-upper and building equity with sweat is a sound plan. You want to work backward from the “as improved” condition of prospective purchases to the price you can pay “as is.” Verify those calculations at decision time against similar “for sale” homes requiring no work. Be careful about hiring “friends.” Being a friend has nothing to do with competency. Friends should be subject to the same vetting process as strangers. I get many questions about soured transactions with friends that contain the phrase, “but he (or she) was always so nice.” Here is an article about how to qualify contractors and other service providers that may be helpful: https://dearmonty.
com/tips-for-selecting-a-builder/. Many agents working in your area will either not be familiar enough with the various municipalities around the city, or not willing to take the time to research MLS data to provide accurate insights on those locations. I suspect there are statistics for the entire county that may shed light on what reasonable assumptions can be drawn. The Regional County Planning office has more information about which areas are the likeliest to prosper. The local MLS is the only dependable source for the most accurate, up-to-date information. You are talking about your largest single cash outlay in your life. Take your time picking the best agent. Make logical, not emotional, decisions. Richard Montgomery gives nononsense real estate advice. Visit DearMonty.com.
Welcome home Page RE6 • REAL ESTATE WEEKLY • Wednesday, July 19, 2017
Best gifts for new homeowners are practical, personal share old memories and make new ones,” Gordon said. For anyone tired of showing up at a housewarming with a bottle of wine, here are some gift ideas to consider:
By Cindy Decker More Content Now
N
o matter the occasion, a good gift is thoughtful. Sometimes, it’s creative, too. Such truisms were reinforced by readers and home experts who answered our call for ideas about the best housewarming gifts. Great gifts take into account not only the recipient’s needs and tastes but also the situation: Is the gift for, say, a first home or a vacation home? And suggestions centered on items that are functional versus purely decorative — and not all involved a new purchase. DeAnna Gordon said she and her husband, John, needed to furnish an entire lake home that they bought several years ago.
“Unlike the routine system of parents helping their adult children establish households,” she said, “we were very pleased to be on the receiving end of items from them.” Their children supplied a bedroom set, a sofa and six sturdy kitchen chairs. The secondhand gifts even included a wide-mouth bass, mounted for display and fitting the theme of the second home. “Given that getting the house together was such a joint effort, it is a place we like to gather to
Basic tools A new homeowner probably could use some basic tools, even if he or she leaves the big jobs to professionals. Even renters should have a set of screwdrivers, a hammer, a utility knife, an adjustable wrench and pliers, according to the “This Old House” website. A drill comes in handy, too, said Lou Manfredini of Ace Hardware.
He suggests the Black & Decker 20-volt lithium-ion cordless drill ($65): “This is a good entry into owning a drill, and, with the lithium battery, the charge will hold for up to 18 months since you will forget to charge it.” He also suggested Ace’s threepiece plier and wrench set ($27). Other ideas: For a homebuyer who’s moving from an apartment, garden gloves, a trowel and a hose will help with landscape work. An Oxo trowel with serrated edges (about $18) is a strong all-purpose
tool. Mud Gloves (about $15) will keep the gardener’s fingernails clean.
Handy help A gift of time and energy was unbeatable for Donna L. Hahm. Hahm’s doctor told her to limit the use of her left arm this spring while she healed from breast-cancer surgery. So her friend Janet Oberliesen recruited her family to help tidy the gardens at Hahm’s new home. “Janet’s family worked for three hours nonstop, filling 18 yard-waste containers and bags with weeds, leaves, etc., leaving our beautiful new gardens and yard looking ever so beautiful and giving us a much-needed and -appreciated respite,” she said. For those who lack the time or mad skills in the home or garden, a gift certificate for several hours of handyman services gives new homeowners a way to cover repairs or small chores, such as replacing locks on exterior doors or hanging paintings. Fire safety Safety isn’t sexy, but it’s important. Steve Howard, a retired fire
REAL ESTATE WEEKLY • Wednesday, July 19, 2017 • Page RE7
Best gifts continued... lieutenant, suggested buying 5-pound fire extinguishers (about $35 each). “An ABCtype extinguisher will extinguish a fire caused by any source of fuel or heat,” he said. “As an alternative, I would recommend smoke or carbon-monoxide detectors.” American flags Jo Liggett regularly displays one of the housewarming gifts she received in 1991 when she and her husband bought a house built in 1844 in Circleville, Ohio. “My parents gave us an 1844 American flag,” Liggett said. “It has the 13 stripes but only 26 stars; there were only 26 states in the Union in 1844. We fly it proudly.”
Address plaques House numbers on many homes can be difficult to spot, especially when they’re tucked under a porch overhang, too small or poorly lighted. To draw attention with style, address plaques with large, bold numbers can be planted in the lawn. Such a plaque was given to Dorothy Bosworth when she moved to her home more than 25 years ago. “It was the perfect gift for now and forever, as it will be passed along to the next owner of the house,” she said. “The gift has everlasting endurance and usefulness.”
TIPS OF THE WEEK Grass-watering tips
According to Grass Seed USA, a simple trick to determine whether your lawn needs watering is to stick a screwdriver into the ground. If it enters the soil easily, your lawn has plenty of water already. If you have trouble getting the screwdriver into the ground, it’s time to give the grass a drink. When it’s time to water, do so in the early morning or evening hours to avoid water evaporation. Keep in mind, a thorough watering once or twice a week is preferable to lightly misting every day.
GARDENING Colorful perennials that do well in shady spots
Trying to add some color to the shady spots in your yard? Better Homes & Gardens recommends these shade-loving perennials: Toad lily: This easy-to-grow perennial offers unique flowers that are often compared to orchids. Many are spotted with shades of purple or blue. Bleeding heart: In late spring and early summer enjoy pink or white heartshaped flowers that hang from elegant, arching stems. Lungwort: The variegated foliage with small purple flowers looks great all season long, plus is a nice accent to other shade plants.
DECORATING DIY flip-flop wreath
For a bit of summer flare that welcomes guests with a pop of color, try your hand at a flip-flop wreath. The experts at CraftyMorning.com provide the steps to make a circular flower power wreath: Glue flip-flops in a circular pattern with the heels creating the center of the wreath. Add fake flowers or a pinwheel in the center or on edges if desired. If weight is a concern, add cardboard backing. Tie with a ribbon and hang.
WATER USAGE Water being wasted by leaks
America’s water infrastructure is aging, and each year more than 240,000 water mains break at a total repair cost of more than $1 trillion, Who Runs the Water that Runs America Initiative reported. These breaks and/or leaks in the water mains account for 12 percent of the nation’s water being wasted each year. And as the infrastructure system continues to age, that number is expected to grow. — Brandpoint
Page RE8 • REAL ESTATE WEEKLY • Wednesday, July 19, 2017
TAKE CONTROL OVER YOUR NEXT
CAR SEARCH SO MANY OPTIONS...SO MUCH NOISE...SO LITTLE TIME Let BestRide.com narrow the choices and cut through the clutter to find your next ride.
LET’S DRIVE
WWW.BESTRIDE.COM
The smartest, easiest way to find a car online.