Labor Day

While you are enjoying the last official BBQ of summer please don’t forget the American worker.

The first Monday in September is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the workers. Workers have made the strength, prosperity, and well-being of our country. They are the backbone of this great country.

The form that the observance and celebration of Labor Day should take were outlined in the first proposal of the holiday — a street parade to exhibit to the public “the strength and esprit de corps of the trade and labor organizations” of the community, followed by a festival for the recreation and amusement of the workers and their families. This became the pattern for the celebrations of Labor Day. Speeches by prominent men and women were introduced later, as more emphasis was placed upon the economic and civic significance of the holiday. Still later, by a resolution of the American Federation of Labor convention of 1909, the Sunday preceding Labor Day was adopted as Labor Sunday and dedicated to the spiritual and educational aspects of the labor movement. (adapted from US DOL)

Soon it will be time to winter fertilize and re seed the lawn. Trim the hedges and possibly the trees. What else could you, my dear reader be looking at? You could clean and touch up. Make certain the gutters are free of debris, if the caulking around the windows, is cracked or missing fill it in or replace as needed. When is the last time you cleaned your dryer vents? Is the dryer taking longer and longer to dry the clothes. Perhaps the vent is clogged.

With the weather being what it is time to think about painting. If you are wanting to sell in spring you may not want to wait for spring. It is amazing to me how many people will spend hours washing their car, every week in some cases, and not spend any time taking care of their home. So be a Dagwood, work in the yard, have a dagwood for lunch that day as you enjoy the fruit of your labor as fall approaches. And enjoy a good game of football, whichever you like.

Parts of this article came from original columns from 2009 and 2010. My goodness, have I been writing that long. Certainly doesn’t feel like it. All the Best Richie Rich

School Has Begun

Hello Everyone, SCHOOL HAS BEGUN, there will be traffic delays, people running late. School buses will be making stops. Don’t forget to stop yourself when the bus does.

Also remember that our police officers will be out helping us to remember to slow down in school zones. As we all should. There will be new drivers on the road, new kids in drivers ed wondering, should I change lanes or not. Please try and be patient and not have a road rage incident.

I myself will be trying to say kids, kids, kids every time I stop at a stop light or red light before I turn. Just trying to remind myself that the munchkins will be out and about and I need to raise my level of awareness.

All of this is a great reminder that summer is winding down and fall is about to arrive. I certainly enjoy the cool mornings; just wish the smoke was gone. Summer has been great and I am looking forward to fall, soup and stew, football and futbol.  How about you?

Real Estate is still doing well. Homes are still selling, rates are low and life is good. As we begin the fall rituals keep in mind there is still plenty of time to enjoy your backyard spaces, start planning fall projects or just kick back and relax like a sleepy old tick hound on the front porch. All the Best Richie Rich

Title Insurance…What is it Good For?

My goodness! I am feeling slightly beat up and tail dragging. I sold a home that had a cloud on title and it took a lot of extra work, about 20 hours, to get it resolved. Now I can hear some of you saying, “So what, look how much you get paid”! Well yes I do get paid however this was an additional 20 hours of work that I did not get extra compensation for. Try working at your regular job and then work Saturday and Sunday and a couple of nights for no extra pay and see how you feel.
The work I did for my buyer was work that I did not need to do. Work and a goal I achieved when the title company and bank said I could not do it. They said it would take 12 weeks to get it done after we gathered all the information and submitted it completely and correctly. COMPLETELY? AND CORRECTLY! Oh my goodness!
I got it done in 2 weeks. The main reason I got it done is because I met a neighbor who, like me, cares about his neighbors. You see he and the seller discovered that they both had trouble. His driveway was on the sellers property and the seller’s shed was on his. The neighbor filed a claim, title insurance came in and at no expense to the seller, fixed the problem. Or so we thought…
The title company or the attorney had forgotten to get the lien waivers from the banks. You see, when a bank gives you a loan it is for the whole thing. So you cannot sell or trade some of it without their permission. Even though the land exchanged was equal in size and no money was exchanged the lenders must still give their approval and sign releases. UGH! Now we had a problem.
I am grateful I knocked on the neighbors door and we talked. He had filed the claim. When I ran into a dead end with his title company he called me and said “no way”. He had the name and the number for the title person who would let us close on the property. I called our title company and gave them the updated information. We were able to close, just 1 week late. Thank goodness for good neighbors. Thank goodness they had the correct title insurance to fix the problem. Not all do. Title companies, what are they good for? Just like other insurance agencies, as long as you have the proper insurance, they help protect you. All the Best Richie Rich

Sales Etiquette

There are certain things that the public should expect when dealing with sales people. Perhaps I am old school however here’s what I think.
When you are the client and you go out to eat or have a drink the sales person should pick up the check. Now I do have clients who insist on buying me the meal. It’s a dance and we both appreciate each other.
A sales person should dress professionally. Flip flops and baggy shorts are ok for the buyer however not for the sales person. Dress for success, dress the part is important in creating a good first impression. Most of us would have a hard time if the auto mechanic was wearing a tuxedo.
A sales person should be on time. Sounds simple however you would be surprised.
A sales person should be courteous. Yes, please and thank you. Really shouldn’t we all do this?
When a business person answers their phone or when they are initiating a call they should identify themselves. Not just hello and leave us guessing if we got the right person. Or who is this calling me.
A note about cell phones and texting. When you are with a sales person they should be with you. They should not be on their phones unless it is about you and they are trying to get an answer for you.
A sales person should be prepared when they meet you. They should not be winging it.
They should have time for you. They should answer your questions and help you understand the process. Not just make the sale.
Traditions such as these are guidelines we should follow. Not rules set in stone. I think good etiquette is always in style. I happened to watch the movie Kingsman this last week. The quote I loved best “manners maketh man”. All the Best Richie Rich

What to Ask A Home Inspector

Home inspections are a critical part of the home buying process. Don’t skimp out here. Inspectors are now marketing directly to buyers trying to get more business. Here are some questions to ask a home inspector prior to hiring them. HUD (Housing Urban Development) finds it so important they have a list of questions you can use. The Feds believe it is so important that when you get a loan from them there is a whole page as to why you should get an inspection. Here are my thoughts.
Prior to hiring:
1- How much does it cost? Let’s just get this out of the way. Simple enough most are around $300 bucks however depending on the extras the price goes up. Extras Rich? Yes, well, water and so on. If your home is larger than there can be additional fees as well.
2- Can I attend the inspection? Most inspectors cringe here and ask that you join them at the end of it. I say if you want to be there with the inspector and crawl the attic and crawl spaces have at it. If not then meet them there and go over the findings.
3- Are you insured and what does it cover? Follow up with if something pops up that should have been caught what remedies do you offer? Some have insurance for this; some offer a warranty, others you get the fee back you paid.
4- How have you been trained, what kind of experience do you have? How many inspections have you performed in the last year? Ask to see their last report, look for buzz words, see below. These are great qualifying questions.
5- Look at the report, what are major areas of concern? How easily can these be indentified? Some inspectors say all the window seals have failed (Buzz Word), rather than a particular window has moisture, sweating or fogging. Seals fail, is there water? Apparent break in attempt (buzz buzz) rather than door is damaged where lock is. Is there a police report or did the previous person forget their keys. My all time favorite? MOLD ooh, mold can be everywhere in all homes. Some mold is the bad kind; some is not and has been there for years.
6- How bad is it… really? A good home inspector should be able to discuss the report with you and offer insight on to how bad the damage could be. If they say you need to hire a specialist for everything they noted why hire them to begin with.
Of course you could ask your Realtor for a recommendation. Chances are they know a couple of good ones. All the Best Richie Rich

What Happens When A Seller Won’t Sell

Now everyone who reads my column knows I am a Realtor, not an attorney. If you want legal advice please consult an attorney. Now you also know whatever I say next is going to be really good so hang on. What does happen when a seller chooses not to sell?

In the purchase and sales agreement it says the buyer automatically gets their earnest money back. The seller is also required to pay for costs of title insurance, a whole bunch of miscellaneous expenses and attorney fees. Sounds reasonable so far and then comes the next part. This payment does not waive any of the buyers lawful rights or remedies. SAY WHAT! YES it means there may be more the buyer can do. What can a buyer do? Well…

The buyer can pursue legal action and sue for specific performance. The WEX Legal dictionary defines specific performance as A contractual remedy in which the court orders a party to actually perform its promise as closely as possible, because monetary damages are somehow inadequate to fix the harm.  Most commonly ordered in cases involving real property and rare chattels. If you want a better definition Harvard has a 39 page report you can read. Basically the court will order the seller to sell.

WHAT! Is this like eminent domain? No. The court can order the seller to sell the property under the terms of the contract they agreed to, no eminent domain. Why can’t the seller just give the buyer some money? Pay for all the damages Rich? Well, I’m no attorney; however I believe that the Court does it to make the buyer whole. Every piece of property is unique and because of that the Court believes the only way to make the situation right is to make the seller complete the deal. I am certain there is a very legal reason why this occurs based upon years of law. As the definition says, it is done because monetary damages are somewhat inadequate to fix the harm.

To be honest my dear readers I have heard of this being done. I am not certain why a buyer would choose this path however it is their right under the law. Next week, what happens when a buyer doesn’t buy? All the Best Richie Rich

Jumping Through Hoops

I recall once I was sitting at a lender’s desk as a home buyer and the lender saying to me “what are you going to do? Walk away from the deal?” You see there we had reached yet another hoop to jump through and I was so frustrated. As I often tell my clients, when buying a home there are hoops we need to jump through. They start off huge, like a hula hoop and by the end they appear as big as a pinkie toe ring. So frustrating, yet remember when this happens, call me and we will get through it together.

As we have talked about lenders have overlays they use to try and protect themselves from having to eat a loan. The loans are audited and if something is found incorrect, years later, especially if a borrower is defaulting, they can be made to take the loan back and lose all of the profit. It could be something as small as a missing middle initial. I am certain they do not like the idea of doing that.

So what do you do? Well as I tell my people all the time, we can look for a new lender or you can do it if you want the loan. Then I remind them of the hoops and whatever they decide I support. My job is to present them with their options, suggest what I think is best so they can make an informed decision.

Rich what did you do with that lender. Ah as Paul Harvey would say the rest of the story…. My bride immediately jumped in and said “I would not say that to him, he’ll do it just to show you he can”. He said we couldn’t do that, he had a lot of time and money into the deal. I told him he should then work harder to keep our business and not blow apart the deal. The lender huffed and puffed and then managed to fix whatever obstacle our way. Glad he was able to. The issue was something so trivial that it just frustrated me to no end. Nowadays the lenders demand a letter of explanation over a 5 dollar deposit. Where did that money come from? Good Grief talk about a hoop to jump through. Hang in there, All the Best Richie Rich

STEPS TO BUYING YOUR NEW HOME

1. MEET WITH A TRUSTWORTHY REALTOR. The truth is no matter which Realtor you choose you must make a connection with that person. Ask them if they are a full time Realtor or if they earn their living another way. How much time do they have to work with you? When are they available to go look at homes?
2. LENDERS: After selecting the right Realtor for you, have the Realtor help you choose a lender. The Realtor should be able to suggest several types of loans to you that may meet your needs. The lender will help decide which works best for you. The loan officer will ask you to fill out an application:

• If applying for a VA loan, please bring a copy of your DD-214,
• Be prepared to account for the source of funds of your down payment and closing costs.
• Bring federal tax return (2 years), if self employed also bring profit and loss statements, and balance sheet for the last

two years.

• Alimony and child support information (divorce decree for verification) may be required.
• Last 4 pay stubs
• Current statement(s) from banks, stock funds etc

 

3. Find a home, write an offer, and write an earnest money check. EARNEST MONEY: This      represents your sincerity in the attempt to purchase and is refundable if the offer is not accepted. This money is kept in a trust fund account and is not turned over to the seller until called for by the contract. You will receive credit at closing for it.

 

4. Once the purchase agreement has been accepted by the seller, the lending institution you have chosen will be contacted to process a new loan. An appraisal will be ordered.

 

5. Escrow will be opened at a title company. An escrow is an arrangement in which a disinterested third party (Title Company) holds legal documents and funds on behalf of buyer and seller, and distributes them according to the buyers and sellers instructions.

 

6. A home inspection will be conducted. If necessary repairs will be negotiated and completed

 

7. You will be asked to name an insurance agent as a policy will be necessary prior to closing escrow.

 

8. With the help of your lender and the title company they will provide an approximate dollar amount that you will need prior to the close of escrow.
9. Moneys required at the close of escrow (down payment, closing costs, etc.) should be in the

form of a cashier’s check.

 

10. When all the necessary papers have been signed and the moneys received, the documents are

recorded. The escrow officer will make the necessary monetary disbursements. Once documents have been recorded, title to the property (ownership) has changed hands.

all the best, Richie Rich

DIY

I decided to try and tear the roof off of my home so the roofer can install it. I wanted my kids to help to learn from the experience. Ooops I did not really think this thru. See when I was a kid I did things like this however I forgot I have a bad back, no roof for me and my daughter is recovering from a knee injury, no roof for her. So my son is up there by himself. I accept what he has done and say good job. No one is there to show him how to do it. I couldn’t ask for a better kid. A quick reach out to friends and no one is available. I guess earning some summer money is not worth the trouble. If only there was an app to do this. Hmmm
So what’s a guy to do? Well I will hire some labor. I managed to find Paul and he is amazing as is Ashlee at Labor Ready. Thank you to both.
I had a problem and I solved it. It did not go as planned. It cost more and there was room in the budget for it. What a great learning opportunity for myself, my clients and most importantly my family. They learned Dad is not so perfect, can apologize and does not give up when we hit a road bump. Many people today expect life to be perfect and nothing should go wrong and if it does somebody owes them for it. Wrong on all accounts. Life happens and our attitude dictates how we feel. I could have stomped my foot and yelled at the world. What good would it do? Everyone around me would be angry and not as effective. I choose to accept what goes wrong and find a solution. Not a blame. So keep in mind that as you DIY things around the home it is good. Anticipate there could be problems and be ready with a plan. When I planned the roof repair I anticipated that we may need help. I had a plan, I followed the suggestions of others and it worked out. I was open and ready when we hit a snafu. It is a good thing. The experience for my kids is awesome. I could not be prouder of them and the lessoned learned. And I get a new roof. The added expenses would be the same if someone else did it. So go ahead and do it yourself. Stay calm and the rewards are awesome. All the Best Richie Rich

Voting on the West Ada School District Bond Issue

The bond vote is Tuesday March 10^th. Please get out and exercise your right to vote. I have heard several opinions on the matter. For the nays, the Board is top heavy (too much management), how come they don’t take pay cuts. The teachers make way too much. We can have bigger class room sizes. For the ayes, we need the rooms, kids don’t even get lunch because they run out, and teachers deserve raises.

All of the above are passionate discussion points. However I believe we should looks at other issues. Since this is my column, I choose to share my thoughts on it. I know I know You can’t wait to hear.

Despite what some elected officials say our schools are doing poorly in national rankings. I have a hard time thinking a major business will move here when the kids will need to attend the worst schools in the nation. Rich, what is your point? It has been proven that smaller class sizes result in higher learning. Vote Yes!

A trusted friend that works with children on the local and national level once told me that prison population estimates are based on what is going on in 3^rd grade. Good gravy!!! I think smaller class sizes result in children at risk having a better chance of success and staying out of prison. Vote Yes!

Eagle Middle School is 250 students over capacity. Lake Hazel Middle School is 452 students over capacity. Heritage Middle School is 162 students over capacity. New construction in these areas is going well. New construction pumps lots of money into high paying jobs in economy and is helping the country get out of the recession. More homes mean more students, Vote Yes!

The bond will add 2 middle schools, 1 elementary and finish the remodel at Meridian High School. 1 middle school and the elementary are south of I84, the other middle school will be in Star. All underserved areas of our community that are experiencing growing pains. Vote Yes!

I have walked the halls of Meridian HS. It desperately needed a face lift. How a room, building look have an effect on the student and their ability to learn. Vote Yes!

The levy rate decreased this year. If the bond passes the levy rate remains the same. SAY WHAT RICH, we saved money? The rate does not increase? Damn straight! Vote Yes!

All the Best Richie Rich