How Serious is the Crack in Your Basement Wall?

Ken Peter

Certified Home Inspector

The Ken Peter Team

Pillar To Post Home Inspections

303-772-1997

(Note: Basement cracks drive homeowners and home buyers and real estate agents a little crazy. Indeed, some cracks are signs of serious foundation problems. Others may be of less concern. Home Inspector Ken Peter's recent promotional e-mail is the best discussion I've read about this issue. Peter's discussion is reproduced here with permission –– Ron Rovtar)

Houses of any age will shift and settle over time, resulting in cracks. Cracks may appear in finishes, structural components or both. Though they usually don’t have any structural significance, it’s worth some visual detective work to help homeowners understand the difference between different types of foundation cracks.

Shrinkage Cracks

Concrete shrinks as it cures, so a newly poured concrete foundation may develop small vertical shrinkage cracks, which are not structurally significant. Characteristics of shrinkage cracks include:

• The crack will be small and vertical, usually less than 1/8” wide.

• The crack is in the foundation wall only and does not extend up through the structure.

• Shrinkage cracks usually occur in the middle third of the length of the foundation wall. If it’s located toward the end of the length of the foundation wall, it is probably not a shrinkage crack.

Settlement Cracks

Like shrinkage cracks, settlement cracks are vertical, but they extend up through the structure. In block or brick foundations, cracks may follow the mortar joints in a step pattern rather than vertical. Most settlement cracks are caused by short-term settlement. Ongoing settlement is uncommon but can cause structural problems over time. Here are some ways to get an idea of whether ongoing settlement is likely:

• Crack size: Settlement cracks more than 1/4” wide are more likely to indicate ongoing movement than smaller cracks.

• Direction of movement: The edges of a typical settlement crack line up and fit together vertically, much like pieces of a puzzle. If the edges of the crack have shifted, or sheared, so that they no longer line up, the 1/4” rule described above doesn’t apply. This type of crack can be a significant structural concern.

• Repaired and re-cracked: Unless it is a hairline crack, a settlement crack that was repaired and has re-cracked could also indicate ongoing movement and should be addressed.

Horizontal Cracks – Basement Foundation Wall

In homes with true basements, a horizontal crack in the foundation wall, below grade and running the full length of the basement is likely a sign of foundation failure. For a house with a full basement, the soil outside the foundation wall exerts a tremendous amount of pressure on the foundation wall. Occasionally, unanticipated additional loads exert pressure and cause horizontal cracking in the foundation wall. Do not wait to address this potential issue as it could cause much greater problems down the line, including structural failure.

Contact your local Pillar To Post Home Inspector for further information on these and other home-related issues.

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Colorado Insights is produced by Ron Rovtar, a leader in Boulder County residential real estate for more than a decade. He is a broker associate LoKation Real Estate in Boulder, CO. Ron can be reached at 303.981.1617. Or you can E-mail him directly. To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out Ron's Facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.


 #Homes #Cracks #FoundationCracks #Basement BasementCracks #Foundations #RealEstateCommissions #RealEstate #Realtors #BoulderRealtors #ColoradoRealtors #Commissions #ColoradoRealEstate

  

Why Do Real Estate Agents Charge So Much?

By Ron Rovtae
LoKation Real Estate
Boulder County CO

303.981.1617

A recent survey of 1,000 real estate consumers found 42.7 percent said commissions are too high. 

So, let’s talk commissions. 

Though fees were the biggest concern raised in the ShelterZoom survey, a negative response less than 50 percent actually surprised me a little!

It beats Donald Trump’s disapproval rating on FiveThirtyEight. 

 And it's definitely a step in the right direction! 

Perhaps real estate agents are doing a better job communicating their value to clients. 

And that’s the crux of the matter, isn’t it? 

Value! 

Return on investment! 

If you hire an agent who: 

(1) Listens carefully to your concerns and acts accordingly.

(2) Markets your home persuasively and to its best advantage.

(3) Negotiates vigorously and professionally with your best interests at heart.

(4) Communicates with you often and answers all your questions thoroughly so you can make the best decisions.

(5) Manages all those people involved in the transaction.

(6) Speaks the truth (even when you don’t want to hear it). 

Then you should see benefits like:

(1) A larger bottom-line financial result.

(2) Much less stress. 
  
(3) Fewer frustrations, distractions, disapointments and delays.

(4) A smooth, clean and timely closing.

(5) A much reduced chance of costly, time-consuming post-transaction issues.

 How much is this worth to you? 

The comments section is now open! What do you think? 

Read more about the ShelterZoom's survey. 


Ask Ron all your real estate questions: 303.981.1617 

––––––––––––––––––––––––––
Ron Rovtar has been a leader in Boulder County residential real estate for more than a decade. He is a broker associate LoKation Real Estate in Boulder, CO. Ron can be reached at 303.981.1617. Or you can E-mail him directly. To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out Ron's Facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd. 

Article ©Ron Rovtar


 #RealEstateCommissions #RealEstate #Realtors #BoulderRealtors #ColoradoRealtors #Commissions #ColoradoRealEstate

Should Boulder Rethink Its Housing Policies?

By Ron Rovtae
LoKation Real Estate
Boulder County CO

303.981.1617

Look out Boulder! Your housing policies are becoming unpopular! 

In fact, growth-limiting planning and zoning policies nationwide are coming under the microscope because they disproportionately curb construction of affordable homes. 

Boulder Housing Policy may be 
in need of a whole new look.

To encourage more affordable residential construction, President Trump this week announced creation of the White House Council on Eliminating Barriers to Affordable Housing Development.

The Trump Administration is not alone in raising this issue. 

The Obama Administration expressed similar concerns in its 2016 "Housing Development Toolkit."

And the Joint Centers for Housing Studies at Harvard called attention to the relationship between planning and affordable housing when it released “The State of the Nation’s Housing 2019” Tuesday. 

“These constraints, largely imposed at the local level, raise costs and limit the number of homes that can be built in places where demand is highest,” said Chris Herbert, managing director of the Harvard group. 

It looks like a consensus is forming. So it might be time for Boulder to reconsider its approach to housing and growth.

Policies Boulder established 40 to 50 years ago seem increasingly out of date. And the negiative consequences of these policies cause increasing discomfort among residents for multiple reasons.

Even local leaders who still stand steadfastly behind these aging principles complain about consequences. 

Boulder housing prices and rents have soared. The affordable housing stock has diminished considerably. The city's efforts to encourage more affordable housing have grown more anemic as the costs of land and construction have soared to prohibitive levels.

Even the city's stock of middle-income homes is dropping. This also has alarmed Boulder leaders. 

As a result, many long-time Boulder residents are packing up and leaving every year due to the cost of living, especially housing costs.


Many current residents complain of traffic congestion in a city with a growing population but little geographic growth to accommodate additional residents.

And racial diversity has declined, even though City Council made diversity a policy goal three-and-a-half years ago.


Somehow, it seems unlikely these outcomes were envisioned when the current growth policies were put in place. But it also seems unlikely current leaders will come to the rescue without encouragement.

This is an election year. There will be a number of community forums during which City Council candidates will discuss their ideas about housing, growth and other pressing issues.

Hopefully, all candidates, including incumbents, will prepare some fresh approaches for keeping the city vibrant while providing housing across all levels of the economic spectrum.

If not? Well . . . it's voters' choice this year.

Please vote!


(I've intentionally made some pronouncements in the second part of this piece without stating statistics. You can find many pertinent numbers on the maps at the Joint Centers for Housing Studies at Harvard. You will have to mouse-over the Boulder area in each map. There also are many statistics in this older article. The Community Foundation's most recent Trends Report is also a great place to see the numbers. We can't wait for the next census report, if it ever comes.)


Ask Ron all your real estate questions: 303.981.1617 

––––––––––––––––––––––––––
Ron Rovtar has been a leader in Boulder County residential real estate for more than a decade. He is a broker associate LoKation Real Estate in Boulder, CO. Ron can be reached at 303.981.1617. Or you can E-mail him directly. To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out Ron's Facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd. 

 Photo and Article ©Ron Rovtar


 #BoulderRealtors #AffordableHousing #Boulder #CityOfBoulder #Realtors #BoulderHousing #BoulderHomes #Growth #Zoning

Ten Great Ways to Reduce Stress During a Real Estate Transaction

By Ron Rovtae
LoKation Real Estate
Boulder County CO

303.981.1617

Real estate transactions are stressful! No question about it.

Here in Colorado, a state-approved purchase agreement with unremarkable “additional provisions” runs 16 pages or more. There are multiple stipulations, deadlines, disclosures, inspections, mortgage concerns, an appraisal and other important tasks and events.

There also are many people involved –– real estate agents, a mortgage broker, a mortgage underwriter, a hazard insurance broker, an appraiser, inspector(s), a closer and other title insurance company personnel.

It boggles the mind!

But you don’t have to go crazy keeping up. 

Each contractual stipulation exists for a good reason. Collectively they ensure your deal is wrapped up as pretty and neat as one of Grandma’s special birthday gifts.

So, while these tasks may seem onerous, time-consuming and/or confusing, they also offer you a high degree of security.

As for all those people? They handle many necessary chores. Don’t hesitate about asking for enlightenment when you do not comprehend what they are doing –– or why. Understanding the process can reduce stress all by itself.

Additionally, you can take a number of simple steps to reduce stress on your own.

Here are ten great suggestions:

1) First and foremost, take care of yourself. Get enough sleep. Eat healthy meals at regular times. Take time for important relationships. Do whatever you normally do to relax or blow off steam: run, walk, hike, meditate, arrange flowers, read a book, play your favorite sport, have a good laugh, or even a good cry, if necessary.

2) Never hurry major decisions. And don’t let anyone hurry you. If you are not sure a proposal works for you, or if you and your partner see an issue differently, take the time to sort out your feelings or work out a compromise.

3) Make important decisions when you are rested and mentally focused. For most people, this is in the morning, but not first thing.

4) Talk to your real estate agent at least once a week, more often if much is happening. Your agent should initiate regular conversations. But you can and should call when the need arises. Between calls, write down questions when they occur to you and keep a list where you can access it next time you talk to your agent. Informed buyers and sellers sleep much better.

5) Read everything. E-v-e-r-y-t-h-i-n-g! Then think about what you’ve read. Talk to your REALTOR®. Where necessary, talk to another expert. Get satisfactory answers to all your questions. Then reread everything before signing anything. Mistakes and surprises are really stressful. They often occur simply because a party to the transaction did not fully understand something that person agreed to, usually in writing.

6) Be clear about the difference between what’s in your best interest and the negotiating positions you’ve chosen to achieve your interests. Such flexibility lets you negotiate creative solutions without sacrificing your best interests. For example, a buyer may want inspection resolution work completed at closing, but may get a better result if money is provided to finish a job afterward when the buyer can better monitor quality and appearance. (Note: buyers applying for a mortgage need to talk to the lender before arranging something like this.)

7) Rely on friends, neighbors and family. Send the kids to play at a cooperative neighbor’s house. Ask a friend to pick up a few necessities during a regular grocery trip. Invite a close acquaintance out for a relaxing coffee break. People understand the stress you’re under. Most will happily help.

8) Don’t panic if you experience buyer’s or seller’s remorse. Take a deep  breath and reflect on your reasons for getting into this deal. Remind yourself about what you will accomplish by moving. Then sleep on it. Usually, you will feel better. If you still have serious misgivings, then talk your real estate agent as soon as possible.

9) Reward yourself for major accomplishments such as getting your home into selling condition or negotiating a purchase contract that makes sense for you. Treating yourself after passing a milestone will help you release stress that built up while achieving the milestone.

10) Close the deal as quickly as reasonably possible. Time is erosive to deals. It often seems as if the number of problems arising during a contract period is proportional to time spent under contract. So it usually pays to move things along with prudent swiftness.
––––––––––––––––––––––––––
Ron Rovtar, has been a leader in Boulder County residential real estate for more than a decade. He is a broker associate LoKation Real Estate in Boulder, CO. Ron can be reached at 303.981.1617. Or you can E-mail him directly. To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out Ron's facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd. 

#Boulderrealtor #realtor #realtors #Boulder #Colorado #realestateagents #stress #stressreduction #transactions #realestatetransactions #selling #buying #home #homes #howto #reducestress #homebuyers #homesellers #sellinghome #buyinghome #boulderrealestate


Article and photo
© Ron Rovtar

Should I Ask a Real Estate Agent for a Reduced Commission?

By Ron Rovtar
LoKation Real Estate
Boulder County CO

303.981.1617

If you’ve read any post about “what realtors don’t want you to know,” then you definitely know real estate commissions are negotiable. 

It’s in all the articles! 

But here’s something the authors don’t articulate. 

Paying less may result in reduced services. 

This may be okay with you. But you should know what you will sacrifice. 

© Ron Rovtar

Here’s my advice: 

Be a good negotiator. 

Seek the best balance between price and value. 

To start, let the agent speak first. 

Learn exactly how the agent works. Then ask many questions about, home pricing, marketing, negotiating, customer service, communications and anything else important to you. 

Write down everything the agent promises. 

Add any other tasks you would like accomplished. 

Now discuss commission. 

There may be wiggle-room in the agent’s first offer. 

Probe for it by countering with a lower number. 

Make sure the "wiggle-room" does not cost you services. Do this by reviewing with the agent the list of services you previously wrote down.

Next, consider the service package itself. 

Maybe some extras can be trimmed to save you money. 

If so, negotiate further.

Finally, make sure everything you negotiated is in your written agreement with the agent.

And here’s an additional tip: interview multiple agents. 

Competition improves your negotiating position. And you will learn a lot about buying or selling property. 

Ask Ron all your real estate questions: 303.981.1817

______________________

Ron Rovtar is a broker associate at LoKation Real Estate in Boulder, CO. Please call Ron with all your real estate questions at 303.981.1617.  To learn more about Ron, please visit his website. You can connect with him on Linkedin. For more about life in Boulder County and nearby, check out Ron's "Live In Boulder facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.

#Boulder #RealEstate #Selling #Q&A
#realtors #realtor #boulderrealestate #boulderrealtors #realestateagents #boulder #sellingproperty #selling #negotiate #negotiating #price #commission #negotiatewithrealtor #negotiatewithrealestateagent

Q & A: Getting Ready to Sell; A Confusing Market

By Ron Rovtar
The K Company Realty
Boulder County CO

303.981.1617

What should I spend on improvements before I list my home?

Spending a little money to get your home looking fantastic for buyers can improve your sale price and help you sell more quickly.

But please spend carefully!

And never take on big projects without speaking to a real estate agent, appraiser or other expert about your potential return on investment.

Sellers seldom recoup costs of major remodels or other expensive improvements made shortly before listing.

However, there’s much you can do to improve the selling price of your home while spending very small amounts, or investing a little time. Check out this post for ideas.

So think about small projects with big impacts. Replace outdated fixtures. Handle deferred maintenance. Freshen up the paint. Plant colorful flowers. Refinish the front door.

But, if you’re still itching to go big, consider this research. For years Remodeling magazine has published this respected annual study comparing the costs of major home improvements to average returns when selling.

Whatever you decide, good luck with your home sale!

What should I do now to prepare for listing my home later this year?

There are a number of tasks you can start now to make your life easier when you list.  Here are some of the most important:

1. Start your fix-up, cleanup, declutter effort now. Handle deferred maintenance. Replace worn or outdated fixtures. Touch up paint (or repaint). Clean and organize neglected spaces like the mechanical room and garage. Pitch items you won’t take with you moving day. This post will help.

2. Collect all the documentation pertaining to your property, including house plans, surveys, plats, mortgage paperwork, warranties, receipts, HOA documents, and anything else you can think of.

3. Start thinking like a marketer. What are your home’s best features? Why do you love this home and neighborhood? What convinced you to buy the property? Write answers down.

4. As spring approaches, take photos of blooming flowers and trees if the blooms will be gone when you list.

5. Tell neighbors and friends about your moving plans. They may know buyers.

6. Talk to real estate agents! Sellers often put this off, then hire the first agent they contact because life is getting hectic. Choosing the right professional for your situation is key to getting the best result.

Are we suddenly in a buyers’ real estate market?

Ever since the National Association of Realtors (NAR) reported a drop in existing home sales during December, the media has been abuzz. Everyone wants to extract meaning from the decline.

Some attribute the 10.2 percent year-over-year tumble to a range of factors –– the government shutdown, decreasing consumer confidence, and reduced inventory.

All of these factors probably contributed to the drop in sales, both nationally and in Boulder County where single-family home sales declined by about 17 percent, from 267 last December to 221 this year.

A few prognosticators see the drop in sales as the start of a shift from a seller's market to a buyer's marker.

Let's not jump the gun!

December tends to be an inconsistent month for real estate closings simply because of the holidays pose a major distraction for buyers and sellers. So the prognosticators should be very careful about drawing conclusions based on sales during this one month.

In this case, the more telling statistic was the one for median home prices, which continued to rise.

Along with fewer sales, NAR reports a 2.9 percent year over year rise in median December home prices nationally.

For all of 2018, the IRES MLS reports a 4.9 percent year-over-year rise in the median price of a single-family home in Boulder during 2018. The median sales price for a house in Boulder during 2018 was $954,650. (Median prices elsewhere in Boulder County rose faster than in the city of Boulder.)

The median sales price in Boulder during December rose a whopping 27.1 percent year-over-year, which makes one more than a little suspicious. A closer look helps explain why this number is so confusing.

First, just 43 houses sold in Boulder during December, 2018. That's an extremely small sample.

But, more important, December 2017 had the lowest median sales price of the year at $775,000.  The 2018 December median was $985,000, the fourth highest for the year.

Apparently, luxury homes did better in Boulder during December 2018. This does not mean home prices in general went up by a great amount.

Nonetheless, it is hard to call it a buyers’ market while prices continue rising. But it has been a long run for sellers, and buyers could use some relief. We will see what 2019 brings.

You can read the NAR report at this link.

______________________

Ron Rovtar is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your real estate questions at 303.981.1617.  To learn more about Ron, please visit his website. You can connect with him on Linkedin. For more about life in Boulder County and nearby, check out Ron's "Live In Boulder facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.

#Boulder #RealEstate #Selling #Q&A #realtors #realtor #boulderrealestate #boulderrealtors #realestateagents #boulderrealestate #boulderrealestateagents #sellingproperty #selling #price

Can You Get a Loan During the Government Shutdown . . . ?

  

Posted By Ron Rovtar

The K Company Realty
Boulder County CO

303.981.1617

This is a good question.

The best answer right now seems to be that most qualified buyers and refinancers can obtain mortgage loans as of right now.

However, some specific kinds of loans are not available, or less available, during the government shutdown.

And borrowers also may have to jump through additional hoops to satisfy underwriting concerns.

But, I am not a mortgage broker, so I posed this question to John Kurtz, senior mortgage broker at Premier Mortgage Group in Boulder.

Here is what John wrote:

"For the most part, it’s been business as usual for us. There are some delays getting documents that we need but it isn’t preventing loans from closing with a couple of exceptions.

"USDA and the Native American 184 program loans cannot close if we don’t have tax transcripts and a conditional commitment.

"The other potential problem is for a borrower who is currently furloughed and not working. There are some loan products that will not be allowed to close without a verbal verification of employment.

"A furloughed worker may not be able to close on some loan types until they are back to work. This includes FHA, USDA and most jumbo loans.

"Policies can vary from lender to lender and between loan types. Bottom line, it’s best to check with your lender if you think you may be impacted." 

John did note that things can change in a fluid situation like this shutdown. 

As such, buyers might want to include a clause in purchase offers to protect themselves if the shutdown drags on or causes other lending issues.  

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Ron Rovtar is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your real estate questions at 303.981.1617.  To learn more about Ron, please visit his website. You can connect with him on Linkedin. For more about life in Boulder County and nearby, check out Ron's "Live In Boulder facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.

#Mortgages
#Boulder
#RealEstate
#Lenders
#Government
#Shutdown