Important Home Health Items

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As a REALTOR®, I help my buyers ensure they are taking the appropriate measures to validate that the home they are buying is safe for their family.  Typically this involves an inspection by a certified inspector during the transaction period.  As standard practice, the inspector will do a whole-home inspection, but there are often optional add-ons to test for items that can cause serious health concerns.  Being aware of a few key items that can be of concern is important so you can ask the right questions to the inspector, request the right tests, and be knowledgeable moving forward living in your home.

Here are three important items to be made aware of:

#1 ~ Lead

Homes built before 1978 have a high likelihood of containing lead-based paint.  Lead can be dangerous if not managed properly and disturbing surfaces with lead-based paint or removing lead-based paint improperly can increase the danger to your family.  If you are buying, renting, or renovating a home built before 1978 and have children under the age of 6, you may want to have it checked for lead-based paint.  Lead is especially dangerous to children under the age of 6 because their brains and nervous systems are more sensitive to the damaging effects of lead.  However, be aware that lead-based paint is usually not a hazard if it is in good condition and if it is not on an impact or friction surface like a window.  Always keep painted surfaces in good condition to minimize deterioration.

Visit here for more info on lead.

#2 ~ Asbestos

Asbestos is a naturally occurring mineral substance whose fibers were mixed into many products, including building materials.  In the 70s and 80s, reports started to emerge that inhaling the small fibers of asbestos could cause health complications including lung cancer. Since then, the US government has restricted the use of asbestos, but that still leaves us with many homes that were built with materials containing asbestos.  The top 5 products that you can find asbestos in are:

  • Popcorn ceilings
  • Asbestos ceiling tiles popular between 1950s – 1980s, often found in kitchen ceilings or remodeled basement areas
  • Vinyl floor tiles – the most commonly produced vinyl tile product containing asbestos was the 9×9 inch tile that was sealed to floors with adhesive.
  • Heating duct pipe wrapping – asbestos insulation was widely used on heating pipes and sometimes on water pipes.
  • Vermiculite –  a popular attic insulation material used in houses built from 1900-1940s

Be aware that asbestos is not considered harmful unless it is damaged or disturbed in some way, which could release the dangerous fibers into the air. As the EPA states: “Asbestos-containing materials that aren’t damaged or disturbed are not likely to pose a health risk. Usually, the best thing is to leave asbestos-containing material alone if it is in good condition.”

Visit here for more info on asbestos.

#3 ~ Radon

Radon is toxic gas that is derived from naturally decaying uranium in the soil. Uranium is naturally found in our soils all across the nation, and is especially prevalent in Colorado.  Uranium can be found below homes both new or old and as it decays, it releases radon gas.  The radon gas rises to the surface and can rise through gaps and cracks in a homes foundation or walls.  It is odorless, colorless, and tasteless and can only be detected with radon testing equipment.  It is considered to be carcinogenic by the World Health Organization (WHO) and a leading cause of lung cancer.

The Environmental Protection Agency sets radon safety levels at 4.0 pCi/L (pico-curies-per-liter) and if a home is found to have radon levels at or above this, it is advised to do radon mitigation.  Since radon can be found below homes both new or old, it would be a wise safety measure to always do a radon test within the inspection period.

Visit here for more info on radon.

If an inspector does uncover any of these items during the inspection period, you can speak with your realtor about options on how to move forward.  Most important is that you are aware of the concerns and can make a smart decision on how you want to move forward.

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If you need assistance from a REALTOR® to help in your Boulder-Denver area home search, I would love to help!!  Please reach out via email at bgoltz@wkre.com or through the contact info below.

The Home Buying Process

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As a follow-up to my last blog about the home selling process, here is a guide for the other side of a real estate transaction – the home-buying process.  As with selling your home, the process to buy a house can seem complex and confusing at times.  Luckily, you can get help from a real estate professional who will guide you through the process every step of the way.  One thing some first-time home buyers don’t realize is that in most circumstances, the agent’s commission is paid for by the seller of the home, not the buyer.  So this means your representation should cost you nothing!

When you meet with a real estate professional, you will want to discuss what you are looking for in a home & ideal location so they know the parameters of your home search.  Your realtor will likely ask you pretty early on if you will be requiring a loan or paying cash.  If you are getting a loan, you will want to get pre-approved by a lender right away. This helps ensure you are searching for homes in an accurate price-range and when it is time to put an offer on a house, you can quickly have a pre-approval letter to give with your offer showing you can afford a house of that amount.  Having this pre-approval completed at the start will make the process move a lot more smoothly.  If you aren’t sure where to start with finding a lender, your broker may be able to provide recommendations.

The fun part is searching for a home!  Your realtor will search for homes in your criteria & schedule showings as appropriate.  When you are looking at homes, it is important to think beyond just the obvious like number of rooms, size of kitchen, and age of the roof.  You may want to visit my blog post about important things to consider when buying a house.  There is no magic number on the amount of homes you should see before you make an offer.  I always tell my buyers you need to have the right feeling with a house – you should feel at home in it to know it is right for you.  Once you find the right home, your agent will prepare the offer based on the price and terms you choose.  Often there will be some form of negotiation on both sides and once the parties come to an agreement, you are under contract!

The contract will dictate the dates, deadlines, & terms that must be met before closing & possession – these include items like the inspection, appraisal, due diligence documents, record & off-record title, property insurance, loan deadlines, and more.  Your broker should keep you up to speed on all upcoming deadlines and what to expect.  If you are getting a loan, you will also be getting a lot of requests from the lender on information you need to provide.  Staying on top of both of these will help make the process as smooth as possible and not risk delaying close (or worst case, terminating the contract).

The last deadlines will be the closing date & possession (not always the same date).  Closing is the transfer of funds and ownership & the day we are all looking forward to!  A title company or an attorney typically acts as an independent third-party to facilitate the closing.  Post closing & at the time of possession you can celebrate your new home and the new title of being a home owner!  Congratulations!!

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I would love to help you find your next home!  Please contact me below if you have any questions on the home buying process or would like to discuss how I can help you with you real estate needs.  Visit my testimonials page to see what others have to say about working with me.

Important Items to Consider in Your Home-Buying Search

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As we get into the busy spring & summer months of real estate, we will see more homes coming on the market, but along with that there will be more buyers.  In hot markets like the Boulder-Denver area, we are seeing houses fly off the market in days, often ending in bidding wars.  I believe that buyers are feeling pressured to act fast without thinking through the details of a house & how it may or may not work for them.

Houzz has a great Home-Buying Checklist that lists out 20 things to consider beyond the inspection.  There are many great points in this article to think through on your search to ensure the house you may be considering is the right fit for you and your family.  Some are obvious like:

  • Size of rooms
  • Number of bathrooms
  • Kitchen features
  • The neighborhood

However, there are other points that may be less obvious and potentially more important such as:

  • Interior layout: does the flow work for your daily life?
  • Lot grade & lot features: how much of the lot is usable for you & is the property safe for children or pets?  Is there more yard work than you can realistically manage?
  • Amount of natural light:  if you are seriously considering a home, look at it a second time and at a different time of day to see what the light is like in the house.
  • Regional weather conditions: think about the functionality of the house & outdoor space in all seasons, not just the season you’re searching in.
  • Street parking: there may be rules that are more or less favorable to your situation. Some families may need to rely on street parking and others may not want a street lined with cars.  Checking into HOA requirements &/or town ordinances can help identify what the parking situation is.

Having these items in the back of your mind as you go through your home search may help ensure you are happy with your home purchase for years to come.

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If you or anyone you know needs help on their Boulder-Denver home buying search, I’d love to help!  Please reach out through the contact form below or emailing me at beth@goodacreproperties.com.

Photo from @Houzz

Is This Your Year to Become a Homeowner?

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Have you been thinking about purchasing a home for a while now but, haven’t acted on taking the first step?  Buying a home can seem daunting and you may have more questions than answers which may be what’s holding you back.  It’s true that buying a home may be one of the biggest investments you may make financially, but it doesn’t need to be a scary process.  Getting a good understanding of your finances & what to expect with purchasing a home may help you decide if you are ready to take the next step to start the home buying process.  Below are some key things to start to look into.

  1. Credit Report. A very basic, yet important factor in your ability to buy a home is your credit rating.  The best interest rates & more flexible loan terms are available to those with the strongest credit scores.  You should understand what your credit score is and ensure that the items they are reporting on are correct.  There are three major credit reporting agencies you can contact for your credit score: Experian, Equifax, or TransUnion.
  2. How much home can I afford?  This is probably your biggest question and something you’ll want to accurately know the answer to in order to not be disappointed later in your home search.  To get the most accurate answer, you’re going to want to have a conversation with a lender.  A lender should help evaluate your current financial situation, as well take into account your future plans that may affect how you think about your home purchase & investment.
  3. Lending Options. Banks are not the only source anymore for obtaining a loan to buy a home, there are plenty of other options and it is suggested you shop around to find a lender.
    • Mortgage Bankers loan their own money and then usually sell the loan to recapture their original money plus a small profit.
    • Mortgage Loan Brokers are in the business of matching buyers & homeowners with lenders that are likely to finance them.  The buyer usually picks up the fee for this service.
    • Financial Institutions are commonly known as traditional banks or “prime” lenders.
    • Private Lenders usually refers to sellers who are open to owner financing.
    • Some Credit Unions do issue mortgages for their members and generally can beat the rate of the bank, or at least offer the same.
  4. Pre-Approval.  Once you narrow down which type of lender can best meet your needs, the next step is to get pre-approved for a loan.  This is not the same as pre-qualification.  Pre-qualification is an estimate of how much you can afford in a mortgage payment and simply means that the lender has looked at the information and that there is a high probability that the purchaser will qualify for the requested loan.  Pre-approval is a firmer commitment on behalf of the mortgage company & is a more formal process including a credit check & employment verification.  A seller is likely to view you as a more capable buyer if you are pre-approved which can give you an advantage as a buyer in the marketplace.  It is wise to obtain pre-approval at the beginning of the buying process so you know how much home you can afford and risk not qualifying for a home you go under contract with.
  5. Upfront Fees & Expenses.  Most homebuyers are aware that they need money for a down payment, but it doesn’t necessarily need to be 20%.  The best way to know how much you need for a down payment is to talk with a lender – you may qualify for less percent down.  On top of the down payment, there are more costs that you will need to plan for.  Money will need to be allocated for costs associated with the loan, earnest money with your offer, costs for inspections, cost for an appraisal, possibly a new survey or an ILC, and closing costs. Finally, don’t forget about a cushion for things like actually moving and buying items to get settled in your new home.

With these steps taken care of, you may gain the confidence you needed to start searching for your perfect house!

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If you are ready to embark on your mission of finding a home in Colorado – I can be with you for every step of the way.  The process will not be overwhelming with a REALTOR® you can trust.  Please contact me to discuss your real estate goals: