Beware of House Funk

Old homes are cool. People will pay more for historic character and charm. But what about funk?

Funk- I'm not talking about the super-cool-booty-shakin' music from the '70's. I'm talking about homes that have something weird happening in spite of being a 'charming old house'.

Here's what brought this up... I was a little bored today so I thought I'd get out and preview some homes on the market in East Nashville. I saw 12 homes- 9 of which I thought were a little funky for the price. What do I mean?

Funky House Stuff
1. Weird floor plan- This is a very common kind of funk with older homes that have been remodeled to fit a more 'modern' lifestyle. Closets, bathrooms or extra bedrooms have been added, but it ruined the house. You've seen these homes. The pictures look great until you go there are see how the rooms work together.

2. Funky attic conversion- Also very common. Seldom does a converted attic space feel right. Problems include: Steep stairs, bathrooms with angled ceilings too low to stand beneath, lack of adequate heating/cooling systems, etc. When converting an attic there is sometimes a fine line between cute/sensible and funky.

3. Mix 'n match floors- Buyers always seem to notice when there are several types of flooring that doesn't match. For example, homes with hardwoods in the old part and then laminate floors in the new part mixed with two kinds of carpet, etc.

4. Unlevel floors or leaning stuff- This is the king of house funk. If the floors are unlevel often much of the house is unlevel. You notice it with door trim, baseboard, windows that stick or furniture that rolls to one side of the room. It can be a real problem and is often the kiss of death for a property that's for sale.

5. Duplex conversions- Homes that still feel like they're divided into two have 'the funk.' Signs of this include: two kitchens, exterior entrances where the should be just a window, and one side of the house that is in much worse condition. Homes can be converted from life as a duplex, but it must be done carefully and thoroughly.

If you're looking for a house you may want to stick with Sly and the Family Stone (see below) and leave the other funk out of the deal. :)

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

Water Can Kill a House

I see it all the time. The evidence of water damage to homes. Weakened foundations, rot, mold in crawlspaces, cracks in foundations, etc.

I was just reading an article in This Old House magazine (which I highly recommend) about ways to handle water runoff and make it look good. Their suggestion of making a ditch look like a stone creekbed isn't for every home, but even minor repairs can sometimes keep water from running into your crawlspace undetected.



I'm not an expert on this. After all, I'm just a Realtor,right? However, I go to all my buyer's home inspections and I've got the best inspector in town- he is very instructional and wildly informed on everything in your home. Nearly every home inspection includes some kind of note regarding water entry or the need for better runoff.

Here are a couple real life situations that I saw just recently:

CASE 1: I had some buyer's that fell in love with a house built in 2005. It was a beautiful brick home in a nice subdivision near Brentwood. The inspections were going well with no unexpected issues until we finally got to the crawlspace. Here it was discovered that water was regularly draining in and there was quite a bit of fungal growth present. Yikes!! [THIS is why you ALWAYS do a home inspection when purchasing a home] The inspector thought that perhaps the homes were so close that there was nowhere for the water to run, so it was going into the crawlspace.

CASE 2: Another buyer of mine had a contract on a lovely home out west of Nashville toward Percy Warner Park. Again, things were going reasonably well at the home inspection until the inspector came out of the crawlspace and mentioned something about a "swimming pool" and mold. Apparently, an addition on the back of the home was too far below grade and water was congregating under that section of the house. Once again, my fearless inspector saved my clients a huge headache down the road.

Since then, both of these clients have found other homes.

Anyway, here are some maintenance tips that I've accumulated:

1. Clean your gutters- Clogged gutters may lead to rotted eaves or standing water next to your foundation.

2. Add some gutter extensions, not just a rock under the downspout- You want to lead water as far as possible away from your home. My inspector always says at least 10 feet.

3. Make sure your drainage pipes are not clogged- Many homes are built where the downspouts direct water into black corrugated pipe that deposits water away from the home. This looks nice, but make sure that this pipe does not get crushed or otherwise blocked.

4. Landscape so that water runs away from the home- Okay, this may be obvious, but so often I see homes with landscape beds that tend to collect water next to the home. We also have many homes built on hills where water is practically directed right toward the home. If grading isn't enough then a French drain may be needed to get the water away.

Don't be afraid. If you're looking to purchase a home and have a quality home inspector, these types of issues should be found out. If you haven't found a Realtor to guide you through the process, then call me today.

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

The Problem With "Instant Equity"

Ever seen a home listing that advertised "instant equity"? I just saw a condo where they've dropped the price and claim that you could have instant equity because a similar unit sold for $30k more.

Let's think about that for a second. I know that sometimes sellers are motivated for one reason or another, but are they really going to lose $30,000 on the deal??

In this market, it's more likely that the prices have weakened and sellers are having to be more negotiable to unload an unwanted property.

In my condo example, it may actually be a good deal, but you aren't likely to turn around and sell it right away for $30k profit. Instead, you'll have to wait on the market to heat up. So, I guess, the equity isn't so 'instant'.

Along the same vein are homes advertised for something like "$50,000 under appraised value", but yet they've been on the market for 60+ days. If it was really that good of a deal, it would have sold already!

Okay, I'll calm down now.
Have a great day!

-Peter
www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

Loft or Condo?

I've been showing some of our fine new loft/condo developments in downtown Nashville lately, and I've noticed that it has become more difficult to define exactly what a loft is and how it is different from a condo. The words have unfortunately become more interchangeable, many times loosing their specific meanings.

So what’s the difference? Here’s how I think of it: A loft is a type of condominium that is basically one large room, often converted into residential space from some other use. Sometimes there are partitions or curtains to separate the bedroom, but generally it's one large space. Lofts are often more industrial looking, (especially if it's a conversion) with exposed ductwork and beams and other utilities.

The loft concept has gained popularity to the point where we also have "loft-style" condos. These may be a little more conservative, but still offer a large open living space. There are many variations of this.

A good loft example may be the Werthan Lofts which have been converted from the Werthan bag factory built in 1850. Here’s a picture:

I’m a big fan of lofts, but I also like having some grass. It’s a hard mix, I know.

Shopping for a loft or condo? Call me today.

-Peter
www.NashvilleCityHomes.com
REALTOR. City Home Specialist

Doing Business is an Act of Creation

I've really enjoyed getting to know a couple clients lately. Both are buyers that are moving into Nashville from across the country. Due to a variety of factors they've had a rocky time buying a home which has afforded us some time to get to know each other. Thankfully, I think they are both close to finding a home and settling in.

So anyway, I came across an article today from Daniel Lapin that relates to this because it talks about how everybody benefits from a successful business transaction. He calls it an 'act of creation' which is a really interesting way to think about it. Here's what he says:

"Remember, most of us prefer to do business with folks we know, like and trust... Whenever you do business together, wealth is created. Think about it: if nobody coerced them to make a deal, it must have benefited both of them. Each must have valued what he gained, more than what he gave up. That is right. The act of doing business is the act of creation."

As a Realtor, I often feel like people see me as a salesman trying to talk them into something. This 'salesman' personality is NOT ME AT ALL! I'm not a very good persuader, however, I enjoy being a teacher and a guide- learning what a clients needs are and helping to fill those needs, all while educating them about the process.

It's a good reminder that I don't have to be a salesman, but instead work on building relationships, and letting people know that I'm here to serve them with excellence.

-Peter
http://www.nashvillecityhomes.com/
REALTOR. City Home Specialist.