Comments on: Evidence of active infestation may be circumstantial. http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/ A San Diego Real Estate Web Log Fri, 21 Nov 2008 13:59:28 +0000 http://wordpress.org/?v=2.5 By: Kris Berg http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-153928 Kris Berg Fri, 16 May 2008 18:05:53 +0000 http://sandiegohomeblog.com/?p=721#comment-153928 Sven, And speaking of termites... :) Some areas are more "super-distressed" than others, of course. On the down-payment subject, it is true that lenders are going back to higher downs and full-doc loans. It's called risk averse, and I don't think this is a bad thing. However, don't forget the FHA loan opportunities - 3% down plus a 1.5% loan fee which can be included in the loan amount. FHA doesn't work for every attached product, but it does for single-family. We are also seeing a resurgence of VA financing. Sven,

And speaking of termites… :)

Some areas are more “super-distressed” than others, of course. On the down-payment subject, it is true that lenders are going back to higher downs and full-doc loans. It’s called risk averse, and I don’t think this is a bad thing. However, don’t forget the FHA loan opportunities - 3% down plus a 1.5% loan fee which can be included in the loan amount. FHA doesn’t work for every attached product, but it does for single-family. We are also seeing a resurgence of VA financing.

]]> By: Sven http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-153910 Sven Fri, 16 May 2008 17:07:44 +0000 http://sandiegohomeblog.com/?p=721#comment-153910 Incidentally, the investor groups that back the jumbo loans just updated their guidelines for San Diego (as we are a "super-distressed" area) to 85% LTV or better on anything over $417k. We really are heading straight for 20% down again. Incidentally, the investor groups that back the jumbo loans just updated their guidelines for San Diego (as we are a “super-distressed” area) to 85% LTV or better on anything over $417k. We really are heading straight for 20% down again.

]]> By: Sven http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-153029 Sven Tue, 13 May 2008 21:37:37 +0000 http://sandiegohomeblog.com/?p=721#comment-153029 Kris - Not yet ;) I've been to a few open houses, and I got my eye on a house that I may take a shot at in a couple of months. Thing is, I'm adamant about not buying into a HOA, and pretty much all the newer homes are part of one. I just don't like the idea of someone fining me for leaving my garage open and telling me what color I can paint my house. (and I'm fortunate enough to pay them for this "service") I was renting in a complex once where the HOA just didn't like me for some reason and they began accusing me of random things that I had nothing to do with. Anyway, make a long story short, pretty much this narrows down my selection to "old" homes (as in about 50 years old). Then I'd like to live west of the 5, south of the merge, north of downtown, and I'm not going to pay 2005 prices. So this reduces my selection to like... 3 houses. I love the character of older homes, but I just want to make sure I don't buy something where I'll end up ripping out the plumbing 6 months later. Kris - Not yet ;) I’ve been to a few open houses, and I got my eye on a house that I may take a shot at in a couple of months. Thing is, I’m adamant about not buying into a HOA, and pretty much all the newer homes are part of one. I just don’t like the idea of someone fining me for leaving my garage open and telling me what color I can paint my house. (and I’m fortunate enough to pay them for this “service”) I was renting in a complex once where the HOA just didn’t like me for some reason and they began accusing me of random things that I had nothing to do with.

Anyway, make a long story short, pretty much this narrows down my selection to “old” homes (as in about 50 years old). Then I’d like to live west of the 5, south of the merge, north of downtown, and I’m not going to pay 2005 prices. So this reduces my selection to like… 3 houses. I love the character of older homes, but I just want to make sure I don’t buy something where I’ll end up ripping out the plumbing 6 months later.

]]> By: Phil Hoover http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-152972 Phil Hoover Tue, 13 May 2008 18:00:27 +0000 http://sandiegohomeblog.com/?p=721#comment-152972 All of this makes me glad I live in Boise where we don't have termites. (the Pythons eat 'em!) But, the Pythons aren't a problem either. (cuz the Grizzlies eat 'em!) All of this makes me glad I live in Boise where we don’t have termites.
(the Pythons eat ‘em!)
But, the Pythons aren’t a problem either.
(cuz the Grizzlies eat ‘em!)

]]> By: Steve Berg http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-152907 Steve Berg Tue, 13 May 2008 14:06:21 +0000 http://sandiegohomeblog.com/?p=721#comment-152907 "One thing I do know, is that at the next termite inspection and at every one thereafter, I am going to be poking my head in the attic." Translation - I think we all know who will be the "attic rat" for future termite inspections. “One thing I do know, is that at the next termite inspection and at every one thereafter, I am going to be poking my head in the attic.”

Translation - I think we all know who will be the “attic rat” for future termite inspections.

]]> By: Kris Berg http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-152903 Kris Berg Tue, 13 May 2008 13:57:08 +0000 http://sandiegohomeblog.com/?p=721#comment-152903 I always preferred math to the arts. I like it when there is a right answer and a wrong one. All that darn subjectivity can get in the way. Who knew that the science of the pest inspection was so subject to interpretation? In your case, Jonathan, it doesn't sound like there was any question. What I still don't understand in my case is how one would say they could only issue a clearance after a fume, not because of hard evidence, but because of "a feeling." Greg - Bummer. Sven - Don't tell me you went a bought a house. :) Typically, the general property inspector will be able to identify issues which may exist with your plumbing. They will test for evidence of moisture, leaks, and such. If the older home has a raised foundation, they will crawl underneath (a job you couldn't pay me enough to do) and visually inspect the pipes there. The problem is that no one can crawl through the walls - not you, your inspector, or the agents. So, absent evidence that a problem exists, you will have to assume that the plumbing is serviceable (working). If you do see signs of moisture or other issues, as a buyer you can take the next step and call a specialist that deals with these things. Depending on your concerns, they can send their little scopes on a trip through the pipes to look for blockages and breaches. Do you have any particular reason for concern, or is your concern just circumstancial (age of home) as well? I always preferred math to the arts. I like it when there is a right answer and a wrong one. All that darn subjectivity can get in the way. Who knew that the science of the pest inspection was so subject to interpretation? In your case, Jonathan, it doesn’t sound like there was any question. What I still don’t understand in my case is how one would say they could only issue a clearance after a fume, not because of hard evidence, but because of “a feeling.”

Greg - Bummer.

Sven - Don’t tell me you went a bought a house. :) Typically, the general property inspector will be able to identify issues which may exist with your plumbing. They will test for evidence of moisture, leaks, and such. If the older home has a raised foundation, they will crawl underneath (a job you couldn’t pay me enough to do) and visually inspect the pipes there. The problem is that no one can crawl through the walls - not you, your inspector, or the agents. So, absent evidence that a problem exists, you will have to assume that the plumbing is serviceable (working). If you do see signs of moisture or other issues, as a buyer you can take the next step and call a specialist that deals with these things. Depending on your concerns, they can send their little scopes on a trip through the pipes to look for blockages and breaches.

Do you have any particular reason for concern, or is your concern just circumstancial (age of home) as well?

]]> By: Greg Broadbent http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-152873 Greg Broadbent Tue, 13 May 2008 12:16:08 +0000 http://sandiegohomeblog.com/?p=721#comment-152873 This exact story just happened to me a week ago. My ending was not so happy. My buyers were so frustrated by the process they went out and signed a lease on an apt for a year. I had been taking them out for almost 5 months. The sellers after being told that they were going to have to disclose all this information took their house off the market. This exact story just happened to me a week ago. My ending was not so happy. My buyers were so frustrated by the process they went out and signed a lease on an apt for a year. I had been taking them out for almost 5 months. The sellers after being told that they were going to have to disclose all this information took their house off the market.

]]> By: Jonathan Dalton http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-152812 Jonathan Dalton Tue, 13 May 2008 05:54:15 +0000 http://sandiegohomeblog.com/?p=721#comment-152812 So here was a fun moment ... Since the nine termite tubes discovered in the garage of a home my buyers were purchasing (and still are, thanks to a full treatment sans fumigation) I've been on the lookout for the critters. Guess what I saw to the right on the entryway when I dropped my daughter off at her mom's tonight? Yup ... a lovely termite tube. Darn near picture perfect. Daughter freaked out, thinking the termites were going to eat her alive. Ex-wife seemed a little annoyed ... gave her some names of some contractors, suggested she get them treated before the one becomes a dozen. Hope she does. I'm kinda partial to the house since I helped pick it out once upon a time. So here was a fun moment …

Since the nine termite tubes discovered in the garage of a home my buyers were purchasing (and still are, thanks to a full treatment sans fumigation) I’ve been on the lookout for the critters.

Guess what I saw to the right on the entryway when I dropped my daughter off at her mom’s tonight? Yup … a lovely termite tube. Darn near picture perfect.

Daughter freaked out, thinking the termites were going to eat her alive. Ex-wife seemed a little annoyed … gave her some names of some contractors, suggested she get them treated before the one becomes a dozen.

Hope she does. I’m kinda partial to the house since I helped pick it out once upon a time.

]]> By: Sven http://sandiegohomeblog.com/2008/05/12/evidence-of-active-infestation-may-be-circumstancial/#comment-152800 Sven Tue, 13 May 2008 04:54:08 +0000 http://sandiegohomeblog.com/?p=721#comment-152800 Good information. Thanks! Question: What inspections are or are not common on plumbing systems for older houses during a transaction? Good information. Thanks!

Question: What inspections are or are not common on plumbing systems for older houses during a transaction?

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