My Marin Blog

Regular Home Inspections and Maintenance is Key to

Keeping Up the Value of Your No. 1 Investment

Each month, most of us invest three, four, five thousand dollars or more in an asset that we are counting on to grow over time and provide financial security for ourselves and our family for years to come. I’m talking, of course, about our home. But despite this big investment, we often don’t think about regular maintenance on our property until it comes time to sell. And

by then, we could be surprised with enormous repair bills that will lower our property’s value – bills that could have been avoided with simple maintenance each year.

It always surprises me that people put off regular upkeep on their homes. We would never consider doing that with other big investments; say our new car or boat. One of the things I advise homeowners are to act like you’re selling your home even if you aren’t. Do regular inspections of key areas on your property and make the necessary repairs and maintenance before small problems become big ones. Here are a few areas to pay attention to:

Termite and pest inspections: You should have pest inspections done on your home every two to three years. We all know how much damage termites and other pests can do to your foundation. By having regular inspections and preventative pest control work done now you can avoid serious damage later.

Inside water damage: Moisture intrusion can be your home's worst enemy. Moisture can attack a home from any location imaginable and cause damage to wood structural members, masonry, flooring, wall coverings, stucco, and other areas. Water damage can be extremely costly so make sure to inspect for leaks wherever water piping is located. Regular calking and sealing can go a long ways to prevent trouble.

Outside drainage: While water can do serious damage inside your home, it can be equally dangerous outside. It’s important to make sure that water is draining away from your home in order to avoid cracking of your foundation and sidewalks, as well as pest and mold problems under your home.

Maintain decking: Decks are wonderful additions to your yard, but they can result in major repair bills if not maintained properly. Care for your deck with regular water sealing to prevent water damage, termite infestation and fungus decay. You may also consider installing wood deck alternatives made out of composite and plastic lumber, which are beautiful low maintenance options for homeowners.

Roof and rain gutters: Another potential water hazard comes from your roof and rain gutters. New roofs are not inexpensive, of course, but the damage that leaks can cause can be far more costly to your home. Make sure that all your rain gutters and spouts are clear of debris and working properly, and consider having a roof inspection if you haven’t done so in recent years.

Yards and landscaping: We always talk about a home’s “curb appeal” when it comes time to sell the property. Well-landscaped and maintained yards are a big part of a home’s appeal, and beautiful yards help increase the value of a property. It’s just as important to maintain the outside of your home as it is the inside even if you aren’t listing your property.

Creating a firebreak: The recent wildfires in the Tahoe area serve as a reminder to all of us how quickly fire can spread and consume a home. Flammable wildland vegetation too close to your home will make it almost impossible for firefighters to save your home in the event of a brush fire. If you haven’t already done so, make sure you clear at least a 30-foot firebreak around your home.

Make your home fire safe: While no home is immune from fire, there are a number of ways to reduce the risk inside your home. Install smoke detectors in each bedroom and every level of the house, and test them regularly. Put a fire extinguisher in the kitchen and make sure you know how to use it. Have an electrician check older wiring, and replace it if necessary. Finally, have heating units inspected and cleaned annually by a certified specialist.

Your home is your number one asset and just like any other asset you own, it is crucial to invest some time and money maintaining to maintain its value. Set aside a fixed amount of money each month for repairs and maintenance. A small investment in your home’s wellbeing today could prevent tens of thousands of dollars in damage tomorrow.

Remember it is summer time, which explains that there here has not been a lot of change in the Marin County real estate market in the last month. Summer time is generally slower time in real estate. Many buyers and their families are out of the area on vacation.

The percentage in contract for all price ranges for both SFRs and Condos increased ever so slightly. Inventory remained roughly stable for both condos and SFRs.

The Marin County real estate market continues to be extremely segmented and stratified with interested buyers shopping hard and homing in on the choice properties while bypassing others. They are sharp, savvy, and well-informed. However, some homes and condos are selling in a couple of days with multiple offers and over asking price, while others languishing. There is a bit of frustration on both end of the spectrum. Some buyers are frustrated by not being able to find what they want and not being able to get it when they do find it and some sellers looking for reasons why their homes are not selling.

Homes over $2 million still in buyers' market territory, but continuing their slow climb, now at almost 19% in contract for $2-3 million price range and almost 14% for the over $3 million price range. Buyers with that kind of money to spend are on top of the game. They are voting their confidence in our real estate market and using their cash as ballots. They know a good bargain when they see one.

Advice for buyers: There are good deals out there to be had, especially in Novato. Instead of getting stuck in the rut of bidding on the same small pool of properties as everyone else, look around for something that has been on the market for a while with no competition from other buyers. There are over 120 single family homes in Novato and over 90 condominiums active and ready for buyers offered at a great price. And yet the buyers are slow to recognize the opportunity and jump at it.

Advice for sellers: Buyers look for curb appeal first. It is important to have a great looking photos, at least twelve, of your home on the MLS. Make sure your home looks fabulous from the street and when the buyers come in they feel WOW. Prospective buyers often drive right by a Sunday open house without stopping if they don't like what they see from the street. Staging; landscaping; general presentation, photography; (orderliness, etc.); pricing; these are the items over which you have most control. Do your best to make sure these factors are impeccable.

Advice for everyone: Find a great REALTOR who abides by a Code of Ethics and listen carefully to his/her advice. WE, REALTORS sell homes every day and visit hundreds of listings in a year. WE know the market. An experienced agent will have facts to back up opinions and recommendations and will be happy to share them with you and walk you through the maze of selling and buying a home in Marin. So enjoy the summer, go play and if you know anyone who is on the market looking to buy or sell, ask them to call me or send me an email. I make sure to take good care of them.

Best of Luck to All,

Victoria Wells

Broker Associate/Coldwell Banker Greenbrae

415-464-3380

Http://www.marinbesthomes.com