Real estate agents have not had to deal with negotiating home inspection issues for a years because the market was so hot that buyers were purchasing properties without a home inspection. In this column, I'll address: - Correctly negotiating a home inspection response so the buyer and seller actually get what they want and avoid needless last-minute surprises which can cost money and possible legal action. - Options when the seller does not complete (or complete correctly) the requested repairs. - Too much money - when the buyer wants more than the loan program will allow for home inspections. ================================== The Right Response Every home inspection uncovers defects. It's nothing for the seller to defend and for buyers to freak out about. Every home is slowly falling apart - even if it's a new build. I'm assuming most reading this article understand the basics of the home inspection (find defects, provide opportunity to negotiate fixes and replacements, or cancel the contract and earnest money deposit is refunded). Here are the mistakes I witness in this process - it's enough to drive a broker to drink (heavily!) #1 - UNCLEAR ABOUT WHAT YOU WANT, when you want it, and what happens (the consequences) for missing the deadline What Do You Want? Say it - don't hint around, and don't cut and paste the inspectors findings in the HICRA - "The HVAC is not operating optimally" is a passive way of saying "Seller to have HVAC system inspected, serviced and repaired or replaced by a licensed HVAC company." If the buyer actually wants a new HVAC system because it's at the end of life - then say it: " Seller to replace HVAC system." And that enters us into another issue #2 - ASKING FOR TOO MUCH SELLER CONCESSION When the buyer has negotiated closing costs concession, adding on home inspection credits could catapult the concession beyond what the lender will allow. And the level of credit depends on the down payment the buyer is making.

Northern Virginia inventory just surged by 21% year-over-year, but why does it still feel impossible to find a home? While active listings are climbing at six times the national rate, the 'Months of Supply' is still stuck at a razor-thin 1.1 months, keeping the pressure on buyers this February. The February numbers are in, and if you’re looking at the Northern Virginia housing market, you’re actually looking at two different worlds. We track "absorption rates"—basically, how fast homes are disappearing—and the results are a bit of a wild ride. 1. The "Hot" Market (Under $1.5M) If you’re looking for a home in the median price range (around $800k), it’s still a sprint. We have less than a one-month supply of homes. To put that in perspective, at the rate homes are selling, we’d run out of listings in just 24 days. Everything from $900k up to $1.5M is in the same boat. It is a textbook seller's market—tight, fast, and competitive. 2. The "Not-So-Hot" Market (The 60-Day Club) Here is the twist: about 30% of the market is actually sitting for longer than two months. Why? It isn't just because they are "luxury" properties. We’re seeing homes in the $500k–$800k range sitting too. In these cases, it usually comes down to two things: Price and Condition. Buyers are still active, but they are becoming way more selective. If a house isn't "Instagram-ready" or is priced even slightly too high, it's going to sit while the neighbors sell in 10 days. 3. The "Sweet Spot" for Buyers For the first time in a decade, we’re seeing supply creep over the 2-month mark in places like the City of Alexandria. Why this matters: When supply hits two months, sellers start getting a little nervous. The payoff: This is where you can find flexibility. You might get money back at the table for closing costs or have more room to negotiate the sales price. The Bottom Line: If you want a deal, look at the homes that have been sitting for 30+ days. If you're selling, you have to nail the price and the look from day one, or you’ll end up in that "30% club" watching everyone else head to the closing table.

It's December and every year at this time agents are tempted to slow down their workload since the market has slowed down as well. I get it - it's the eye of the hurricane, the calm before the storm, the ... you get it. DON'T FORGET TO KEEP THE MARKETING GOING! ~Send out Calendars (one mailer, but 12-month effect) ~Call your past clients and wish them a Happy .... ~Monthly Mailer for January! ~Email reminding to drain spigots, annual CMA offer, whatever ~Host a client event - cookie exchange, business mixer, gift wrapping party -- anything. If December is too forgone for your gray matter - then get something ready for January! Finish Well means making sure you are Working Well - and planned, and consistent, and with intention.

There are actually only a couple of items where a contract can be voided by the seller. There are plenty of contingencies where the buyer can void, however, a seller has about two paths to cancel. Death is not one of them! Believe it or not most Contracts state that in case of the death of the Seller the heirs will continue to sell the property. If the seller is wanting to find a house to move into before they complete the sale of their current property, and they cannot donation a certain amount of time, then yes, they could void the contract based on a home of choice clause. Another area where the seller could cancel would be if there’s a third-party that is required to approve the sale. Usually, this might be a short sale situation or where there are multiple sellers that must approve and if there’s no agreement then the responsible party can then cancel the contract. Otherwise, once sellers agree to sell their house, they’re generally on the dime to make it to closing. Have you had a situation where the seller wanted to cancel your offer??? How did it work out?

Wow, we’re end of the first quarter of the century of 21. How are you finishing out this year. How are you finishing out this week? It’s been a challenging year in the DC market, because of the job losses across the region. But the market is still strong. Buyers are still out there. Sellers are still selling. Interest rate rates are still reasonable. But what are you doing to connect with your tribe? We have a coat drive, maybe you have a food drive, maybe you have a toy drive, it doesn’t always have to be about real estate when you call your tribe. Call two or three per day connect with them Merry Christmas, Happy Hanukkah, Delightful Diwali - whatever holiday you celebrate. Find out if they need anything going around the end of the year. HVAC person, a Chimney person, plumber a painter? These are the items that we bring to the table. We may take them for granted, but the common person does not always have all these people in their wallet in their database. We have them and we just need to reach out to remind people that I am in this business of real estate. I take care of not only the house, but the roof, the basement, the plumbing, the electrical, the windows, the flooring, the locks, the bolts, the keys, the lightbulbs, the energy, the garage doors, this is my business. Are you reminding them of that by just calling them and saying happy holidays? I hope you had a great year. Is there anything I can do to help you with real estate or Life? Please feel free to call me. Finish well.