Recently, I was asked about the future value of homes in Ukiah because home sales have slowed and property values have dipped a little. Here’s why I’m not concerned: the cost to develop real estate still far exceeds the cost to purchase comparable property A typical 1500 square foot home with three bedrooms and two … Read more
Last week, I introduced Environmental Site Assessments and the cost to address any issues found (called remediation): Phase 1, Phase 2, and Phase 3. I reviewed the first phase, so this time I’ll review the last two phases. As a brief refresher, the whole reason for the assessments is to determine whether a property is … Read more
If you’re an investor or lender interested in commercial property, you’ll want to be sure to investigate whether a property has contaminants in, on, or underneath it. (While any real estate can be contaminated, commercial properties are far more susceptible than residential properties.) Exposure for single-family homes is typically a buried fuel oil tank that … Read more
A few years back, it became popular to reduce the interest expense of a home mortgage by dividing the monthly payment in half and making two payments each month. This also helped those on a budget align the timing of their expenses and with the timing of their paychecks. While I don’t hear about this … Read more
If you don’t buy a lot of property and you are not in the real estate business, chances are you don’t know much about the escrow process—which is fine unless you’re buying a house. Escrow is the neutral place where legal documents pertaining to property ownership and money to pay for that property remain safe … Read more
Believe it or not, when you turn on the tap at home, water doesn’t just magically appear. It depends on a well somewhere, whether it’s a well on your property, a private water district, or at a municipal site. Almost all the water we use comes from wells. For this article, I’m going to talk … Read more
Around here, a fair number of properties are nowhere near a sewer hookup, and must therefore depend on a septic system to process human waste and wastewater from laundry rooms, kitchen dishwater, and showers. All this stuff goes down the drain and ends up in a septic tank—and that’s where the magic happens. Microscopic bugs … Read more
Last week I talked about pest and fungus reports. This week, I’m sharing information about home inspections—what they cover and why they’re important. To find a home inspector you’ll be happy with, check references, read contracts, look at sample reports, and most of all ask your realtor for a recommendation. Once you’ve found a good … Read more
After reading last week’s article, if you’re brave enough to buy in winter let me tell you about one of the most vitally important inspections you’ll need to get: a pest and fungus inspection. This is sometimes referred to as the Termite Report, but it is so much more. Of course, a good inspector will … Read more