Realty Executives Oceanside

SHANNON VINNICK

(386) 503-1971

SHANNON VINNICK

Sales Associate/REALTOR®

Realty Executives Oceanside

Call Me

Shannon's Listings Sign In

Close

Blog

Fix it or Leave it...

(Published on - 6/15/2022 1:03:47 PM)
 
 

 

Fix it or Leave it for the Buyer

By Matthew T Smoot 
 
Attend to Cosmetics:
It is easier to sell a house that is attractive to potential buyers, which means that you spend a little time and money on cosmetics. This is partly just a matter of making sure it is clean, the yard is neat, the driveway is swept, bushes pruned, and so on. Easily-fixed structural defects, like a loose shingle, should be fixed. 
 
Houses almost always look better when furnished than when empty - they also look larger! If you are moving to another residence and plan to take your furnishings with you, if possible, arrange things so that you show the house before you move out of it.
 
However, if your house also has structural defects that are costly to fix, the challenge is in deciding whether or not to fix them before sale.
 
Structural Defects:
Every house has defects, some obvious and others hidden. Both types will affect the price a buyer is willing to pay. It is a mistake to think that a potential buyer will assume that the only defects that exist are those that are visible. Serious buyers will most likely invest in an inspection by a firm that specializes in such services. Buyers that don't retain an inspector will probably assume the worst about the unseen condition of the house. 
 
There aren't many buyers who will pay a price based on the assumption that everything they can't see must be OK. Pricing the house on that assumption is a good way to keep it on the market unsold indefinitely. While you continue to pay for utilities, taxes, and insurance, the condition of the house worsens.
 
Facing up to the issue means asking yourself whether you will come out better if you fix the structural defects, or if you offer it at a lower price "as is". If the repairs cost $15,000 but it results in a sale price $20,000 higher, you want to do it. If the post-repair price is only $10,000 higher, you don't. Which outcome is more likely depends on the circumstances.
 
When it Pays to Fix the House Before Sale:
There are two circumstances that favor fix-up before sale. One is where there is a large variance in the cost of the fix-up, and a potential buyer is likely to over-estimate the cost. In the case of a septic system, for example, the cost depends on the condition of the soil, and if the seller knows that the condition is favorable and the cost low, it makes sense to fix it before sale. 
 
The second and probably more compelling circumstance is where most potential buyers have the capacity to make only a small down payment, and are therefore not in a position to fund the cost of major repairs after purchase. By making the repairs before sale while setting a correspondingly higher price, a seller is in effect financing the improvement in the mortgage. If a buyer with limited cash had to make the improvements after purchase, the financing costs would be substantially higher. 
 
But note that fixing structural defects before sale takes more time, which a seller may or may not have. In addition, depending on the type of defect, the value to a buyer may be less than the cost to the seller if the "fix" involves questions of taste.
 
Sellers Should Order Their Own Inspection:
If a house has significant defects, the smart seller will order his own inspection, and in some cases, solicit estimates of the cost of required fix-ups. This will help in deciding whether the best arrangement is pre-sale fix-up, sale as is, or some combination of the two. 
 
Therefore, if a seller believes his house may have issues to contend with, it is always best to do your homework before you open escrow with an unsuspecting purchaser.

Superior Customer Service!

24 Hour Turnaround Time On Reports!

Fully Licensed & Insured!

Uniformed Professional Staff!

One-Stop Shop For All Inspection Services!
 

Give Us A Call!

(386) 283-6548

DIY best left to the Pros!

(Published on - 6/8/2022 5:21:06 PM)

As in the article; 

When to leave that DIY project to professionals
by Marni Jameson |
 
 

"In the insurance business, we get a lot of claims from accidents," said Laura Adams, an insurance analyst for Clearsurance. "Keeping people safe helps prevent claims and injuries," she said of the company's motive behind the report. "We wanted to remind them to be careful."

Here are more of the report's findings, which are based on figures from the U.S. Consumer Product Safety Commission:

Home improvement injuries accounted for 3% of all ER injury visits in the United States, or 290,599 trips to the emergency room in 2020; 8% of those patients were injured seriously enough to be admitted.

Fingers were by far the most injured body part (117,026), followed by hands (37,308) and eyeballs (34,827). Youch! The neck was the least commonly injured body part. I assume that's because spouses wringing each other's necks falls into another category.

Lacerations led to 127,486 ER visits, followed by fractures at 35,917. Most baffling, internal organ injuries accounted for 7,456 visits. What happened there?

Collectively, power tools — from workshop table saws to cordless drills — were involved in more than one-third of all injuries, followed closely by manual tools (hammers, screwdrivers and other tools you don't plug in).

Since the report also found that total ER visits from DIY-related injuries had reached a 10-year high, and that spring, as in right now, is when home improvement projects peak, I thought this would be a good time to have a little safety chat.

What all this boils down to is this: You want the sense to take on the home improvements and repairs you should do yourself, the humility to hire someone else when you should, and the wisdom to know the difference.

Here's a clue. Before you tackle a project on your own, answer this question:

Injuries (and other bad outcomes) happen when a) we do something we're not qualified to do, b) we don't have the right equipment or protective gear, c) we are being cheap, d) all of the above.


Be Prepared!

(Published on - 5/11/2022 5:37:31 PM)

All areas of our community have the potential to be ordered to evacuate in an emergency.

As written in the Flagler County Disaster Prepardness Guide;

 

It is important to be aware of any specific evacuation zones, such as

Hurricane Evacuation Zones, in which your home of business may be located. If ordered to evacuate, it is important to implement your personal/family emergency plan and immediately go to your predesignated location outside of the evacuation area, such as a friend’s / family member’s home, or a hotel/motel. Flagler County will ensure that public shelters are made available for evacuees who have not predesignated an evacuation location, or are unable to go to their predesignated evacuation location. These shelters will provide safe haven from the emergency and may provide limited food service, depending on the duration of the emergency. It is important to be aware that public sheltering is an option that any resident or visitor may take advantage of; however, shelters will not offer many of the creature comforts, or privacy, found at home or in a hotel/motel. All evacuees are reminded to ensure that they bring their disaster supply kits, with them to any public shelters.

CLICK HERE TO LEARN MORE ON FLAGLER COUNTY DISASTER PREPARENESS GUIDE


NEW LISTING!! 200 Ocean Crest Drive #437

(Published on - 8/16/2021 4:56:46 PM)

200 Ocean Crest Drive #437, Palm Coast, FL 32137

Beautiful, Beachy, Airy 1 bedroom Hammock Beach Condo. Fully furnished with a beautiful view from the balcony. New couch coming soon. New water heater 2021, HVAC 2019. Property is currently in the short term rental program at Hammock Beach. Excellent investment opportunity and/or a great personal Florida gateway. Amenities: 2 championship golf courses, pool pavilion that includes 5 pools, waterslide and a lazy river, fitness facility, full service spa, 6 dining choices, all on the property, tennis, transportation services to resort amenities, walking and jogging trails and the beach! What are you waiting for?

 

Interested in this property? Contact me.

Shannon Vinnick

REALTOR®

386-503-1971

ShannonVinnick@RealtyExecutives.com

ShannonVinnick.com


NEW LISTING!! 200 Ocean Crest Drive #231

(Published on - 8/16/2021 4:43:04 PM)

200 Ocean Crest Drive #231, Palm Coast, FL 32137

Beautiful, Beachy, Airy 1 bedroom Hammock Beach Condo. Fully furnished with a beautiful view from the balcony. New couch coming soon. New water heater 2021, HVAC 2019. Property is currently in the short term rental program at Hammock Beach. Excellent investment opportunity and/or a great personal Florida gateway. Amenities: 2 championship golf courses, pool pavilion that includes 5 pools, waterslide and a lazy river, fitness facility, full service spa, 6 dining choices, all on the property, tennis, transportation services to resort amenities, walking and jogging trails and the beach! What are you waiting for?

 

Interested in this property? Contact me.

Shannon Vinnick

REALTOR®

386-503-1971

ShannonVinnick@RealtyExecutives.com

ShannonVinnick.com


Posts

;

Questions? Need Advice? Complete this form for more information.

Contact Information::









About

  • SHANNON VINNICK
  • Realty Executives Agent
  • Realty Executives Oceanside (Flagler)
  • 235 Palm Coast Pkwy NE
  • Suite B
  • Palm Coast, FL 32137

0000000

Contact

  • Mobile (386) 503-1971

About Realty Executives

Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.


Copyright 2024 Realty Executives All Rights Reserved

Sales Associate/REALTOR®

SHANNON VINNICK

Contact
Disclaimer: Each office independently owned and operated. Please disregard this message if you are already under contract with another real estate professional.
}