Top 10 Worst Foreclosure States For May, 2008

Rank State Per 1000

1 Nevada 118
2 California 183
3 Arizona 201
4 Florida 228
5 Michigan 353
6 Georgia 378
7 Colorado 388
8 Mass. 406
9 Ohio 410
10 New Jersey 467

Top 10 Reasons to Have Your Property Surveyed

The following are some common reasons property owners should hire a surveyor.

BOUNDARY LINES. One of the most common reasons a landowner seeks the assistance of a surveyor, the location of boundary lines and other lines of occupancy or possession is a critical piece of information to have before you build a fence, add a sunroom or pave your driveway. All too often the survey shows that you and your neighbors were operating under the wrong assumption about the placement of the boundary line between your properties. Before you have that fence erected, you want to make sure it will be built on your property, not your neighbor's. The boundary line certification will also tell you whether the legal description of your property is accurate.

GORES, OVERLAPS, AND GAPS. Part of the boundary line certification, most surveys include a statement that unless the surveys says otherwise, there are no discrepancies between the boundary lines of your property and the adjoining property. This is especially pertinent if your property is continuous with alleys, roads, highways, or streets.

RIGHTS-OF-WAY, EASEMENTS, AND ABANDONED ROADS. A survey will show all the conditions imposed by law that are reflected in your property's title report and other agreements. If your property blocks your neighbor's access to the road, for example, there may be an old agreement that gives your neighbor the right to walk across your yard to the street.

PONDS, RIVERS, CREEKS, STREAMS, WELLS, AND LAKES. The typical survey reports visible or surface waters only. Underground waters and wetlands are topics that are better covered by other professional inspections.

JOINT DRIVEWAYS, PARTY WALLS, RIGHTS-OF-SUPPORT, ENCROACHMENTS, OVERHANGS, OR PROJECTIONS. Unbeknownst to you or your next-door neighbor, you may have an obligation by law to support your neighbor's driveway by maintaining your own.

EXISTING IMPROVEMENTS. The surveyor will usually certify that the buildings and other improvements, alterations, and repairs to your property that exist at the time of the survey are not in violation of laws or other restrictions such as those regarding height, bulk, dimension, frontage, building lines, set-backs, and parking. Of course, the surveyor will also tell you if your latest improvement is in violation of a local ordinance or other law, which will put you on notice that a change is in order.

WATER, ELECTRIC, GAS, TELEPHONE AND TELEGRAPH PIPES, DRAINS, WIRES, CABLES, VAULTS, MANHOLE COVERS, CATCHBASINS, LINES, AND POLES. Poles and above-ground wires are obvious, but the surveyor can usually report on the existence of underground cables and drains, as well, if the information is provided to him or her by your utility companies and municipality. Such information is important for two reasons. A utility company may have the right to use a portion of your property for upkeep of utility lines, and may have a say in how tall you let your trees grow, for instance. Also, knowing the exact location of underground utilities is critical before any excavation or construction begins.

CEMETERIES. It is unlikely that unbeknownst to you there is an old family burial ground in your back yard. The survey will show the exact location of any old cemeteries on your plat.

ACCESS, INGRESS AND EGRESS. Your survey should state, at a minimum, whether there is physical vehicular ingress and egress to an open public street. It may also specify the adequacy of access for a particular purpose, such as delivery trucks, emergency vehicles such as fire trucks, and driveways for tenants.

ZONING CLASSIFICATION. You probably know whether your property is zoned for residential or light industrial use. But you may be surprised to discover that your zoning classification puts specific restrictions on how you use your property. This part of the survey simply reports your zoning jurisdiction and classification. Once you have your completed and certified survey, you may want to consult an attorney about whether you are using your property in conformance with zoning ordinances or for other advice about the legal ramifications of your property survey.

Quick Tip: Getting your home in show condition.

Here are some quick tips on getting your home in show condition:

1. When the agent arrives with the potential buyers, have the window coverings open to let in as much sunlight as possible (unless an ugly view shouldn't be highlighted). At nighttime, be sure that all of your outdoor lights are on, particularly any landscape or pool lights. Indoor lights – all of them should be on day or night. I have never had a buyer claim– “it is too bright”.

2. Open doors between rooms to give an inviting and open feeling. Turn the television off. Have the thermostat set to a comfortable temperature. In winter, a fire in the fireplace is inviting - you want the buyers imagining themselves living in your home.

3. Pick up any newspapers, magazines and clutter that may be lying around. Your kitchen and bath counter tops should already have been cleared of all but the most basic necessities, make sure dirty dishes are not in sight.

4. If you have dogs, take them for a walk. Some people are afraid of pets; others love them and will remember your pet more than your home.

5. The beds should be made and clothes picked up (under the bed is a quick hiding place for all kinds of stuff). Bathrooms should be clean and the toilet lids down.

6. You never know when the right person is going to walk through your front door. Whenever you leave the house it should be in "show condition". You as the home seller play a major role in achieving the highest possible price. The above is a generalized “punch list”, your Realtor should provide you with specifics as to how best to “show off” your home. AND if you don't have a Realtor, I may be available for the job!! :-)

Record High Home Inventories

With record high housing inventories, lower interest rates and property prices beginning to be lowered the market changes are making home ownership irresistible again.

Do we all understand what happens next?

The housing inventory will lower again which will be followed by a rise in home prices. What this means is that NOW is the time to purchase! Remember the old saying "You snooze, you lose". That saying really goes hand-in-hand with today's market.

Welcome!

Welcome to my Blog. I decided to start a Blog for my real estate company Gonnering Realty so that I can share some of the knowledge and experience I have gained over the past 18 years as a Real Estate Agent and now as the Broker/Owner of Gonnering. I hope you enjoy my Blog and leave your computer knowing a little bit more about today's real estate market.