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Buyers Beware of Bargain Basement Blinders

It never fails to happen.  Buyers who are seeing some of the great prices on homes posted on the internet call and say "we must see this house now."  We go to check out the property and they fall in love.  They figure that rates are low and the payments are well within their comfort range, we can do this they say.

We tour and then the buyer finds the perfect floor plan for their needs.  The utilities are on and the property isn't winterized so you can flush toilets, run faucets and check the basic mechnaicals.  The house is only a few years old, so chances are the roof will be okay and the electric panel should be sufficient to support a modern family.  A little carpet, a little paint and it will be as good as new..  

"WE WANT IT" they say in unison.


Electric Substation in Prince William County
But....you had to figure there was one of those coming didn't you?
  Let's go outside and take a look around.   Do you have any concerns about the power lines running right through the neighborhood?   Oh we can live with that they say.  But...yes another one, what about the huge electric substation you pass to drive into the community?  Oh we hardly even noticed it.   Okay how about that water tower in the backyard?  Oh well maybe we should think about this a little more.

As a buyers agent our responsibility is to point out as many of the "buts and what about" that we can to protect our client.  Sometimes it feels like being the wet blanket at the party BUT and this is the good one, pointing out concerns that can impact the future value of a property or be future financial nightmare to a buyer is a huge part of our responsibility.




Water Towner in Prince William County neighborhood

If you are a buyer looking for an agent who wants to make sure your interests are protected in today's turbulent Northern Virginia housing market give me a call.  I'll make sure that I answer all your questions and point out all of the things you should consider before you finalize an offer on your new home.  No hassle, no pressure, just straight talk about today's real estate market.

I'll make sure you don't end up with the bargain basement buyer's blues.

                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

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Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

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Comment balloon 24 commentsCindy Jones • January 14 2009 07:05PM

Comments

Oh my, I guess love really is blind if you can't see that huge water tower looming in the back yard!  Of course, their water pressure should be quite good, right?

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 10 years ago

It is amazing what some buyers can 'miss' on the initial home searching process.  Although there is a certain beauty about the view out the back windows overlooking a huge watertower.  =)

Posted by Jenn Neumann Deer, Surfside Beach Real Estate (RE/MAX Southern Shores) almost 10 years ago

Cindy, great post. I totaly agree with your line:

As a buyers agent our responsibility is to point out as many of the "buts and what about" that we can to protect our client. 

I had somebody ask me before "so, did you sell a house today" and my response was, no I think I talked them out of it. Your post is right on!

Posted by Mike Mitchell, REALTOR (R) (Real Living Kee Realty) almost 10 years ago

Cindy, good post. I always put on my listing agent hat for a minute and think, "how hard will it be to sell this house in the future" with power lines, water tanks, etc., near that not so perfect, perfect house.

Posted by Rich Mielke, REALTOR, Frederick Maryland Real Estate (REMAX Results, Frederick MD) almost 10 years ago

Hi Cindy~ Sometimes those bargain basement blinders are priced so low because of those exact things you wrote about that tend to be deal breakers!  Another one I have been running into is that some homes back up to busy streets (noise problems)

Posted by Vickie McCartney, Broker, Real Estate Agent Owensboro KY (Maverick Realty) almost 10 years ago

Hi Cindy...Doing what we should do is the very best thing we can do for our clients.  Sometimes that means taking off their blinders. 

Good advice.

Kate

Posted by Kate Elim, Realtor 540-226-1964, Selling Homes & Land a (Dockside Realty) almost 10 years ago

Hi Cindy

Buyers and sellers need the services of a professional today far more then in the last 30 years. Buying and selling real estate is serious business.

Good luck and success

Lou Ludwig

 

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 10 years ago

It's true, a lot of buyers just look at the home and block out any "negatives" that are in the neighborhood. Sometimes buyers won't see those power lines or water towers until after the purchase. It's always good to have the buyer's agent around for a professional second opinion...

Posted by Steve Zarry, Austin Central Texas, Real Estate (House Buying Now) almost 10 years ago

Love the blue water tower in the back of the pic of the home. 

Posted by Chris & Maria Skrip, Beaufort, Bluffton, Hilton Head, Sun City SC (RE/MAX 1st Advantage) almost 10 years ago

Silvia-you would think it would but of course it is a reservoir tank and not connected directly to the house :-)

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Jenn-you could consider it your own special space ship hovering to protect you!

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Mike-I have no problem NOT selling a home if in my professional opinion it is one that a buyer should pass on.  I try and give them as much information I can to help them make an informed decision.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Rich-we think alike in tht regard.  I also give them ideas of things that will help their resale value in the future if they decide to go ahead with a purchase.  Please don't over personalize!

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Vickie-but the noise doesn't bother me they say.  Yes but it will most likely bother the next buyer or if they have children they will have concerns about safety

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Kate-sorry I can't hear you I have on my rose colored glasses :-)

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Lou-perhaps if there had been more serious agents 4 years ago we wouldn't have so many buyers in trouble today.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Steve-everyone has an opinion on power lines but water towers and electric substations should always be a deal breaker.  Though obviously they weren't for the current owners of the homes I showed!

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Chris and Maria-and it is a photoshop trick either!

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 10 years ago

Cindy:  We have to always be looking out for the best interests of our clients.  In Gainesville there are some condos listed that make the phone ring.  My first time buyers are soooo excited.  There are railroad tracks running parallel to the community property line.  You would never know they are there if you aren't familiar with the area, or if a train weren't passing by.  I am always pleased to have the train passing when showing one of these below market condos.  Makes the point LOUD and clear.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) almost 10 years ago

Chris-railroad tracks and major highways another biggie.  In the winter buyers often forget that they want to spend time outdoors in the summer and they forget to stand on the deck or patio for a few minutes and listen for the noise levels.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) over 9 years ago

There is a subdivision between Flagstaff and the Grand Canyon call Valle. People buy acreage here un-seen (usually on E-Bay) for around $10,000. It's nuts. Then they want to sell when they figure out they bought crap and can't sell. This gives me an idea for a blog post on this, thank you!

Posted by Johnathan Mullaney, Broker, Flagstaff Real Estate (Village Land Shoppe) over 9 years ago

Johnathan-raw land sight unseen?  Must be a great ad to lure them in.  I'll keep an eye out for your post.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) over 9 years ago

Oh look at that water tower - what a backdrop - NOT!  I once sold a new construction subdivision that had high tension wires, railroad tracks and a water tower!  Yikes, good thing the homes were for first time buyers, inexpensive and the market was good!

Posted by April Hayden-Munson, Brookfield Wisconsin Real Estate over 9 years ago

Cindy, good information to remember.  My buyers agent goes thru everything to make sure the buyer is aware of any negative problems. 

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) over 9 years ago

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