Electrical components in a home
With electrical systems in older homes you may have fuses in the panel while a modern home has circuit breakers. Regardless of what you have it should be in good condition and can be determined by a home inspector or a licensed electrician.
We always recommend an upgrade when a home has fuses. They are outdated by today’s standards. Another issue with older home and dated panels is knob and tube wiring. If you don’t know what that is think of a thread spool with thin wire running through it. If a home has it you can find most of it in the attic strung like artwork. It is dangerous for insulation or any other combustible to come in contact with this wiring. There are also dated circuit breakers and panels as well. (FPE) Federal Pacific Electric which made the “stab lok” breakers and were installed in homes from 1950’s to the 1980’s.
Anyone having these type in a home should have a panel upgrade. They are defective and dangerous not only to the structure but to human life. An inspection will reveal defective items in the electrical system that could save lives and property.
Do you still think its a buyers market
I met with a buyer yesterday for a home in Margate Florida. This home was a foreclosure listed for a Whopping $128,900. It had 3 bedrooms and 2 bathrooms. It also has a pool with a nice size yard to go with it, all new kitchen appliances, new carpet in all the bedrooms and freshly painted throughout the entire house.
When I walked through the house before they got there, I thought to myself, “wow this home is just perfect, there is nothing to do but move in!” Then I thought,I must have looked at the wrong price, this can’t be listed for only $128,900. I went back to get my paper to check it, and sure enough that’s the price it was listed for.
When the buyer came, she walked through the house and liked it very much. I then told her the price. She asked, how much lower can I put in an offer for. I explained what the house came with, explained that this was a foreclosure and I am sure that more than just ourselves were looking at this home. Putting in a low ball offer will decrease the chance of getting it accepted.
She said she wanted to think about it. I told her that’s fine, but the chances that this house is still available when you ar ready may not be. So I will wait to hear back from her today. Crossing my fingers that it will be there for her.
This market we are in now, is not the market we were in back in 2008. Homes are not staying on the market for 6 months, I tell you I am seeing homes that are on the market and scooped up in a matter of days.
What you should have with you….
As a buyer, if you are ready to purchase a home you must have your mind-set. When you are out with your agent have a few things on hand:
Have your list of homes ready
A notebook to write down what you like and don’t like about that house you are visiting.
An open mind..some homes have lots of clutter and you have to see past that.
Low ball offers are being rejected left and right. Sellers are sitting still till they get what they want for their home. But it doesn’t sit long trust me……
If you are interested in looking to buy in Broward County, contact me at 954-993-4104.
Do you see the market as a buyer’s market or a seller’s market? Leave comment and tell me what you think….