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I respectfully beg to differ on that one point: Proper flashing is a MAJOR thing to worry about in construction/remodeling. The problem is that too many contractors, and most homeowners, are clueless about it. And some contractors who are aware of it, choose to cut corners by ignoring it and not doing the job properly, because they know that 90% of homeowners don't know anything about it.
Improper flashing leads to water intrusion, especially in areas like LI where you have wind-driven rain on a regular basis. Water intrusion, as we all know, can easily lead to mold problems; and don't forget our delightful resident Carpenter Ants who make their nests in wood that has been exposed to moisture, and of course our endemic subterranean termites who support a thriving industry of termite control companies here on LI, with good reason.
I agree wholeheartedly that slipshod construction should never be accepted at any price point level. But if I had to list the most critical, zero-error-tolerance areas of construction/remodeling IMHO they would be (all of equal importance, so just in alphabetical order): electrical, flashing, framing, plumbing, roofing. I'm assuming foundation as a "given", because if you've got a builder who's going to compromise on the quality of the foundation, you've got far more issues ahead than having a waterfall between the sheathing and the drywall every time it rains....!
We are in total agreement. What I was trying to say though is that a contractor who cuts corners with flashing will be the least of your problems because it takes years to realize the issues of faulty flashing and more than likely if they are cutting corners with flashing than they are cuttin gin more major areas of construction as well. Water infiltration is a fairly slow process, unless its on the roof. We do experience wind but this is a fairly minor issue in our area.
The bigger more damaging issues are non compliance to current prescriptive and building code. Faulty install of foundation and footing, mechanical equipment, windows and doors, plumbing and electrical compliance and improper use of construction ties and connections (most times not even used). These problems will lead to a more immediate visible issue which will cost in the 10's of thousands to repair.
However, I take it that you had a contractor that did not install flashing correctly. I find that when something is done to YOU it is the biggest problem of all. This is true. You are the home owner experiencing that problem. When this happens there is nothing worse. Even something as trivial as flashing. BUT, you can repair and install flashing after the fact fairly easily and cost effective. You can't redo the foundation without huge cost over-runs. See what I am saying?
For example, a doctor performing the removal of wisdom teeth is a common, simple and everyday occurrence but to the person who's teeth are being pulled its a huge deal. We agree here we just define it differently.
why is it that since buyers controle the real estate market that we don't see any significant price drops by sellers??? is it just greed? can't be they are'nt selling so what are they holding onto?
A few possibilities... One could be that many people who bought at the peak and didn't have a buyer's agent negotiate for them properly are now trying to sell it for what they owe and they still can't sell it. Other factors include buyer financing falling through which has picked up significantly in the past two years.
Another possibility is the buyers want us to give the houses away. My house is fsbo because of all the problems I had with real estates. I had a few come in and again they promised me the moon, my house is new from the outside to inside. It is priced below what others have sold for but in better condition. I am not trying to rip anyone off but if you saw the condition of my house you would know why I am asking the below market value price and am still willing to negotiate, but I again will not give my house away to some tire kicker.
Although I might get heat from listing agents in your area for this I do have a suggestion for you. If I were to FSBO, or as it's known among real estate agents "unrepresented sellers", then I would ally myself with a mortgage broker I trusted and have them pre-approve all buyers before showing them the house. If you don't do that then who knows what kind of people you are letting into your home and what their true intentions are for viewing the home.
A few possibilities... One could be that many people who bought at the peak and didn't have a buyer's agent negotiate for them properly are now trying to sell it for what they owe and they still can't sell it. Other factors include buyer financing falling through which has picked up significantly in the past two years.
I highly doubt that its because they did not have a buyers agent. We are talking about homes doubling in price from 97-05 ... so a home that was 200K in 98 is now priced at 400K ... a person buying on thier own or without a buyers agent paid out of their *** not because they were not represented but if they didn't they would not get the home. I remember the day when people were getting into bidding wars over garbage paying more that the asking price. way more. what could a buyers agent possibly do for a buyer in this case? would you stear the buyer away? Nope, you'd loose your commission. What could you possibly negotiate. NOTHING it was a sellers market. right now however you can negotiate since homes are just sitting there an average of 8-12 months. Those that do want to sell will negotiate.
I don't feel the least bit sorry for sellers who bought at the hight of the sellers market, paid way too much and financed with teaser mortgage packages. Good for them, they are stupid for getting into such a deal and they deserve to loose money on it. Since they felt a need to be "in it" let them suffer thier fate. i have no problem coming in and picking up the pieces where they are broken. trust me you will see more and more forclosures very soon.
as for condos. You know as I do that its a different market that single families. you are right the hight of the market for single fam. was beginning of 2006 and the end of the condo market is right now as we speak. they too will stop selling this year. you'll see, and this is because sellers will start droping price and people will start buying single fam homes again. but not untill they drop significantly. or to normal levels anyway...
Another possibility is the buyers want us to give the houses away. My house is fsbo because of all the problems I had with real estates. I had a few come in and again they promised me the moon, my house is new from the outside to inside. It is priced below what others have sold for but in better condition. I am not trying to rip anyone off but if you saw the condition of my house you would know why I am asking the below market value price and am still willing to negotiate, but I again will not give my house away to some tire kicker.
you say your home is new... what year is it? cause I can get a new home built in your town for 400K. BUT, nothing anyone sais will change some peoples minds. Good luck!
thier intention is to kick the tires, of course..........
lol... tire kickers perhaps. I was thinking more along the lines of viewing the home to see what the owners have for a future home invasion/robbery. It's no different than open houses really which is why they aren't as popular anymore among other reasons.
I was thinking more along the lines of viewing the home to see what the owners have for a future home invasion/robbery. It's no different than open houses really which is why they aren't as popular anymore among other reasons.
Open-house "casings" and downright pilferage have been going on for ages, which is one reason I've never allowed one in a house I was still living in.
For what it's worth, despite having experience in the legal aspects of real estate I would never consider doing a FSBO, because I want at least some screening and documentation of who is coming into my home to view it.
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