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Negotiating After the Inspection

It can be a huge relief to finally make an offer or receive an offer on your listed home. Duke Warner Realtors know that even though it can feel like a big step in the home hunting process, nothing is over until it’s over. When money has changed hands, all paperwork has been signed and filed away, you can finally celebrate and breathe a sigh of relief.

One of the biggest steps to selling your home can be the home inspection. This can either help or hurt the price of your home, as some buyers use it as a negotiating point. If an inspection comes back with unexpected results, negotiating can become tricky, so we have some tips to help streamline the process and reduce your stress!

Houses Aren’t Perfect

If you’re expecting a perfect report back from the home inspector, you might be in for a rude awakening. No homes are perfect, and most inspections come back with minor fixes and notes. A good inspection will still include some changes.

Negotiating after an inspection can either be easy or one of the most stressful parts of buying or selling a home. The most important part of negotiating after an inspection, is to be prepared for a honest report. After that, you can only move forward with negotiations.

Be Prepared

If you want to be proactive about an inspection, you can do some prep work to save you a headache later. Be sure you take care of the issues in your home, that you already know exist. Fix that back deck or walkway, or missing tile in the shower. The best thing you can do with buyers is be honest. If you know your roof will need replacing in the next year, it might be best to be upfront with that information.

If you’re house hunting, you’ll want honest sellers, so why not be an honest seller yourself. If you take the time to fix things that could come up in a home inspection, you could be stopping problems before they’re even started. Some problems can cause more trouble than they’re worth, and could affect your selling price, simply because the fix was left for an inspector to find.

Buyers

No home inspection report is going to come back perfect. Inspections should be used for buyers to renegotiate for major things, like repairs to major systems in your home, like electrical or plumbing issues or roof or foundation issues.

Inspections shouldn’t be used by the buyer to get a better price on the property. The purpose of an inspection is to uncover major problems with a property. These defects could cause a buyer to reconsider the property, or renegotiate. Buyers and sellers should reach an agreement in most cases, with necessary items repaired before the sale is final. And sometimes the price is changed to account for the cost of certain repairs.

Cost Credits

If your inspection reveals something that the buyer is pushing to be fixed, there are things you can offer them. You can suggest a price reduction or a closing cost credit, rather than fix it yourself. A closing cost credit would credit the buyer the money it should cost for the repair. If a potential buyer wants repairs done, they may have opinions on the way the work gets done. It can save time and money to have the buyer do the work themselves, and hire who they prefer. This is why it can be best to credit them for the repairs in the price of your house, rather than fix it before the property is theirs.

 

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Interested in a Fixer Upper?

If you’ve ever day dreamed about fixing up a property and turning it into you dream home, it might be time to consider purchasing a “fixer-upper.” Perhaps you’ve wondered if doing it is a good idea or not? Talk to your Bend Oregon Realtor. We’re here to break down some of the reasons you should consider taking the plunge into overall heaven.

Great Deal

Reason one is that most run-down homes, in need of renovation are great deals. While most people look at them and say, it’s not worth the work, you’re different. If you’re willing to put the work in, and the time and money, you could stand to get a great deal on a property in need of a little love.

Just for You

If you’ve ever wanted to create a living space just for you, then fixing up a home is right up your alley. If you would ideally like to have everything done to your taste, but can’t afford to build a home from the ground up, it can be a better idea to renovate a home. While building a home costs much more than the purchase of a home, buying a fixer upper and adding in a renovation budget, often costs much less. It can also take far less time, and stress.

The other added benefit in making an out of date, run down or just older home, completely yours, is that you’re not starting from scratch. Rather than building a new home, you get to redesign an existing one. You get to choose how to preserve the character or history of the existing fixer upper. You never know what you’re going to find behind the drywall, perhaps original brick? Maybe you’ll find old wooden doors, that just need a little TLC before being incorporated back into the design of the home.

Be realistic

It’s important to set realistic goals for yourself while considering a project like this. While you may think you can do it all on your own, it’s highly unlikely that you can or are even legally allowed to. Some projects involving plumbing, electricity, etc. will need licensed professionals to do the work. So it’s important to consider your renovation budget, and factor in what it will cost to pay contractors to do the rest.

Take Away

Talk to your Bend Oregon Realtor, about any potential properties ready for renovation or flipping. They might just have the perfect place for you. A home that’s a little run down, but in a great location, could prove to be your dream home after a little work.

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Oregon Getaways for the Weekend

A perk of living in Bend is its easy access to a gamut of getaway locations that range from Portland and its quirky atmosphere to Ashland and its oenophilic culture. And while Bend may be a vacation hot spot itself, every person needs a change of pace, no matter how in love they are with their Central Oregon home. Using the guide below, find your next weekend getaway within the comfortable confines of Oregon.

Ashland

World-famous for the annual Oregon Shakespeare Festival (OSF), Ashland has grown from a sleepy community in the Rogue Valley to a flourishing city drawing hundreds of thousands of visitors every year. If you make the trip between the months of March and October, be sure to attend a production at one of the repertory theaters and grab a quick bite to eat at one of their premiere restaurants like Larks or Mezcal. If you have time to spare, also try and stop by one of the wineries tucked away in the hills around the city.

Sisters

In Sisters, you’ll feel like you entered a time capsule from the 1800s. With Wild West facades stretching throughout the main part of town, you’ll truly feel like a cowboy throughout your visit. With access to renowned outdoor destinations like Black Butte, Tam McArthur Rim and Suttle Lake, there’s an endless number of ways to fill your day with fun. When coming back from a hike, make sure to stop by the famous Sno Cap Drive In for a juicy double cheeseburger and delicious Oregon huckleberry milkshake.

Hood River

Sometimes regarded as the wind surfing capital of the West, Hood River has transformed into one of Oregon’s premiere destinations in the past decade. Countless restaurants and boutiques fill the streets in downtown Hood River, all overlooking the beautiful Columbia River below. Whether you’re looking for a relaxing weekend apple picking or adrenaline-flooded weekend of windsurfing or paddle boarding on the river, Hood River caters to anyone looking to escape the monotony of their everyday routine.

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Duke Warner Trend Report for August 2019

With Back-to-School activities and the slight shift in weather, it’s starting to look a lot like Fall in our part of the state. In Central Oregon, the active listings remained steady during the month of August. Both Bend and Redmond markets continue to provide great options for potential home buyers. Our market trend report offers valuable insight into last month’s activity and is also a great resource for any upcoming trends we hope to see during the remainder of the month and into October.

September 1st Inventory and August Activity

With 545 active listings as of September 1st, the Bend market has a bounty of wonderful homes for those looking to invest. Both Bend and Redmond’s current listings have one-of-a-kind homes that won’t last long this season. Redmond’s active listings, as of September 1st, showed 211 homes overall. The numbers stayed consistent and encouraging all summer long. As we dive into Fall, we are seeing the combined active listings for Central Oregon at 756.

August was a busy month for the Redmond market, showing 104 homes sold, 128 new homes on the market and 109 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing 70. The $225,000 – $325,000 had 47 active listings and the $525,000 & up price range showed 38 active listings.

For Bend, the numbers in August continued to illustrate a thriving and steady market. There were 11 active listings in the $225,000-$325,000 range, 115 in the $325,100-$425,000 range, 120 in the $425,100-$525,000 range and 68 in the $525,100-$625,000 price range. As you can see from our Market Trend Report, there were quite a few homes available in the higher price ranges as well, showing 100 active homes in the $925,100 & up price range.

In this kind of steadfast market, buyers look for competitive pricing as they consider properties. If you are selling your home and trying to price your property, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their experience, knowledge and excitement while they work for you. Duke brokers know how to price properties according to the market trends and current housing competition. At Duke Warner Realty, we can help you plan, sort out the details and get you started on your home buying or selling journey.

Sold and Pending Listings

Bend had 280 pending homes in July, and 245 in August. These numbers remain consistent and tell us buyers and sellers alike are on the move. For sold listings, there were 243 in July and 252 in August. In Redmond, we saw 100 sold listings in July, and 104 in August. As expected, we continue to see great numbers in the Central Oregon real estate market!

Looking Ahead                

As many of us know and appreciate, Central Oregon is a special place to live. Both Bend and Redmond markets are active and full of options for buyers in all price ranges. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our professional brokers can offer great insights as you navigate your next home experience. Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.