A Foundation Destroyed by Water and Roots

This home likely had the most significant foundation trouble I've seen over three decades. This was a home I appraised (what is this buyer thinking) and the foundation was failing in several areas, spectacularly so. Based on a thorough look around the entire basement and the site, two major issues stuck out: tree roots and very poor water management. Several trees are very close to the home and good sized roots were against the home in several areas, these are a constant source of pressure as the tree grows. Poor control of surface water is always a recipe for disaster; it's the cause of a multitude of issues. In this case, the two combined and the result is epic deflection of the walls in this foundation.

The foundation damage was part of the…

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Don't Use Price Per Square Foot to Value Homes

Price per square foot is unreliable to value homes. It is without question one of the most quoted "sources" when home values are discussed but it is so flawed that on any level, it cannot stand even the softest of challenges. In fact, price per square foot is so unreliable that it makes  automatedvaluation models (think Zestimates) look reliable.

The idea that something as unique as a home can be "valued" using a method with at least 10 major variables is idiotic. Yet and still, price per square foot is bandied about as some type of cornerstone when home prices are talked about. It falls cleanly into the "garbage in, garbage out" research idiom as nothing in the data used to ascertain that "value" is credible. The typical real estate agent doesn't even…

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Sharply Inclined Driveway

Driveways are the first impression of most homes. Not only do they help form the overall aesthetic but they serve an essential role; access in and out of the property. In an ideal world, the driveway is easily accessible, flat, and easily used. In the real world, most driveways don't hit every positive aspect. The challenge then, is what characteristic is considered adverse and negatively impacts value and/or marketability? If people are intimidated or put off by the driveway, it doesn't matter what the home has going for it. This video examines a home in a mountain community of North Georgia. Settings like this are common not only here but in all mountain communities...and they present a challenge.  

The clip below highlights the characteristics…

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How to Spot Serious Foundation Trouble

The frenzied real estate market of '20-'21 exacerbated the issues found in normal markets. Buyers were/are so stressed to secure a home that some toss caution to the wind; overpaying, waiving finance contingencies, inspection contingencies and more. This is unwise at best and foolish at worst, when emotion rules the decision making process, bad things happen. 

There are more buyers waiving due diligence and purchasing homes "as is" than ever before. Some feel it's one of the best ways to win a bidding war and sometimes that's correct. But unless the buyer and agent have a working knowledge of construction and a level of experience that allows them to spot signs of trouble, the buyer may be walking off a cliff. Water and foundation issues are very…

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Can a Home Buyer Terminate on Closing Day?

It’s closing day and the buyers walk the home before heading to the attorney’s office. But not all is right when the door swings open. What happens if the seller didn’t make the agreed upon repairs? What happens if the HVAC isn’t working? Can a home buyer terminate on closing day because of condition and refuse to close? Maybe. The most common problems are changes in the home from contract to close and agreed upon repairs.

Substantially the Same

The GA Association of Realtors (GAR) contract stipulates that the property will be in substantially the same condition as it was on binding agreement date.  Briefly: “Seller warrants that at the time of closing, the Property and all items remaining with the Property, if any, will be in substantially the…

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What Updates Provide the Best Return for Homeowners?

The Covid influence on real estate continues to be unprecedented. Not one pundit or economic expert predicted or could have predicted how the pandemic set the housing market on fire. Sellers hit unexpected jackpots but not all need or want to become buyers. Many are remaining in place, working on and improving their homes. Their concerns? What provides the best return on investment for homeowners?

The best improvement to any home is one that makes it work better for the owner. What’s the point of spending money on something if it doesn’t bring joy? This is “value in use”; and it’s different for every homeowner because every owner has different

requirements for their home. The best improvements are valued by both the owner and the market (the…

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What Happens if There Was a Murder in a Home We Bought?

What happens if there was a murder in a home we bought? Well in Georgia, unless the buyer specifically asked the seller about this during due diligence, nothing happens. Georgia is a buyer beware state and there are no requirements for homeowners or brokers to volunteer this and other information. Violent crimes, suicides, natural deaths, drug labs....if the buyer doesn't ask, the seller isn't required to tell. And if the buyer waives the due diligence period to "win" in a multiple offer situation...sorry.

Mum’s the Word

Georgia’s “Stigmatized Property Statute” offers significant protection to both the buyer and the listing agent. They are not liable for failing to disclose violent events occurring on/in the property like murder, felonies or…

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What Impact Do Retaining Walls Have on Home Value

Retaining walls are a pretty common feature, they are found around many homes and vary in purpose, design, size and material. All serve a common purpose; to retain or stabilize an area for an intended purpose. In residential settings around Atlanta, retaining walls are usually constructed of either pressure treated lumber or used railroad ties. Larger, sturdier ones will be concrete. They are used mainly to stabilized hilly terrain, make a site more aesthetically appealing or to expand the usable area. We see them used to support driveways and open walkout areas of basements. Designs can be as simple as a few stacked together or as complex as multi-tiered walls with deadmen, drainage and a mix of materials. It all depends on type of property and the…

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Problems When Building a Home

Let's dispense with the idea that building a home is an exciting and carefree event, far from it. Home buyers are naive when it comes to building a home, the vast majority have never done it and have absolutely no idea what they are in for. Problems when building a home are all but certain to happen, how they are resolved is another matter. A major point - the agent on site is LEGALLY BOUND to represent the builder's interest, not the buyer. Buyer's that go in unrepresented have no advocate when problems occur - and they will.

The issues in the video were resolved.  However sometimes it gets to the point where you literally have to dig in and start making it clear that the shoddy and poor work will not be tolerated. This is an example of such a…

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Should You Take a Cash Offer for Your Home?

The idea that a company or investment firm will provide a cash offer for your home is instinctively positive, what’s not to like? To be clear, this is called a “direct sale” as the home isn’t offered for sale in traditional ways. Usually a buyer contacts a seller directly (often initiated by the seller) with an offer and terms of sale. Executed correctly, an off market or direct sale cash transaction can be completed very quickly; about as long as it takes to clear title and get the closing docs prepared. The wild card of course, is having an idea of what the home might be worth on the open market.

A “cash offer for your home” isn’t new. Over the last few decades, the greater Atlanta area became and remains one of the top markets for these…

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