Why a new house burns faster than one built 40 years ago!

The safety of our clients is always very important to us. Our longer known clients remember we used to mail out smoke detector batteries to our clients every October as a reminder to change your batteries. Now-a-days more and more smoke detectors are hard wired or have permanent batteries, so we thought this year with National Fire Prevention week coming up October 7-13 we wanted to give you a few tips to help keep your family safe and educate on why being prepared is even more important in new homes.  Do you know how long it takes for a house to be destroyed if it catches fire? In the past few decades, you needed to be out of your house in less than 17 minutes if it caught fire. But these days, you’d have significantly less time to escape: no more than three minutes. Why have homes recently become that much more flammable? Two reason for this change in timing. Newer homes burn quicker Newer home furnishings are more flammable Newer Homes  The first reason is that we have larger square foot homes that feature tall ceilings with open floor plans instead of the compartmentalized layouts in older homes. When walls are removed it allows for easier smoke and fire to spread throughout the home. By opening up our floor plans it allows more oxygen to be available to create an environment for fires to burn faster. Home Furnishings Another factor is the materials we use in our homes both to build and to decorate them are more synthetic. Many home building supplies have changed significantly in the last few years. Some for the better, but some have changed because of cost and availability. You will find that some building materials include polyurethane and hydro-carbons which is a solid form of gasoline causing these newer materials to burn faster. In experiments with lath and plaster walls found in older homes they withstood fire breaches almost 3 times longer than gypsum board. Furniture and accessories that we decorate our homes are also a factor. Home furnishings, textiles and plastics have been slowly evolving from natural materials to mostly synthetic. You find synthetic materials in the backing of your carpet, stuffing in your mattress and pillow, the drapes. Polyurethane foam has replaced cotton as the padding found in most upholstered furniture. Although not unsafe on their own these synthetic fibers do burn faster. UL Tests show that when ignited the foam produced heat after 4.3 minutes compared to the cotton which produced peak heat in 15 minutes.  Fire Safety RemindersFirefighters encourage homeowners to make sure that smoke detectors are working properly all the time. Families should also create and practice an escape plan that prepares all family members for the event of a fire. If you are considering building a home you may also benefit from investing in a sprinkler system as this could completely put out a fire or at least prevent the fire from spreading and causing more damage. Other Tips For Homeowners On Fire Safety Keep flammable items away from heaters and fireplaces Space out furniture to slow the spread of fire Limit the number of furniture in small rooms Invest in a sprinkler system Change batteries of smoke detectors every six months Keep doors closed as much as possible to keep fire from spreading quickly from room to room Make sure that all furnaces, appliances and electrical wiring are working properly

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Why Real Estate Legal Descriptions Matter--A LOT

A real estate legal description is a detailed and precise way to identify and describe a specific piece of property. It provides an accurate and unique representation of the property's boundaries, location, and other essential details. The legal description is typically used in legal documents such as deeds, contracts, and property records to ensure clarity and specificity. There are three different formats of legal descriptions: rectangular survey system – also known as sectional ground, lot and block, and metes and bounds. Your legal description is found in your title commitment that should be sent to you from your title company once you are "in contract" on the purchase of a home.  Often times on county websites, you will see an abbreviated legal description, but although it may be convenient it can not be used for official purposes like buying a home or transferring title to a family member or third party. When dealing with a legal description for real estate, there are several important factors to watch out for to ensure accuracy and avoid potential issues. Here are some key considerations: Accuracy: The legal description must be precise and accurate to avoid any confusion or disputes. Verify that the information provided matches the official records and survey plans. Errors or inconsistencies in the legal description could lead to complications in property ownership or boundary disputes. Real Life Local Scenario: A seller with 50 acres decided to sell off 10 acres and  the house that was on that 10 acre portion . The listing agent got a legal description from the Title company and attached it to the listing. The buyer and buyer's agent attached that legal description in the purchase and sale agreement. The legal  description provided was mistakenly for the entire 50 acres, not just the 10 acres and house. The mistake was discovered prior to closing and all parties were supposed to sign a new legal description at closing. The seller signed but the buyer did not. Now the buyer is claming that they bought all 50 acres and wants to take all the old growth trees down on the 40 acres and sell them. The seller says that  the 40 acres was not part of the sale and the buyer can not take down the trees on his property. (Lawsuit in progress). You want to be especially careful with legal descriptions when the property has changed configurations , as in the above case. It went from a 50 acre partial to two parcels; one 10 acre and one 40 acre. As you can see, the correct legal description is important!. Here are some things to pay attention to. Boundaries and dimensions: The legal description should include clear and specific information about the property boundaries, such as metes and bounds, distances, angles, and landmarks. Double-check that the dimensions provided match the actual property and its boundaries.  Encumbrances or easements: Look for any encumbrances or easements that may affect the property, such as rights of way, utility easements, or access restrictions. These details are crucial for understanding the property's limitations and potential future uses. Make sure you ask the seller if they have provided an easement or right away to any of their neighbors and if so when did they do it. Zoning and land use: Confirm that the legal description aligns with the property's zoning designation and permitted land use. This information is vital for determining the property's potential for development or specific uses. Consistency with title documents: Ensure that the legal description matches the information found in the title documents, such as the deed or title insurance policy. Any inconsistencies should be resolved before proceeding with any real estate transactions. Professional assistance: When dealing with legal descriptions, it's advisable to seek professional assistance from a qualified real estate attorney, surveyor, or land expert. They can review the legal description, assess its accuracy, and provide guidance to avoid potential pitfalls. You can also have your real estate agent confirm with a title company as to whether or not the legal description is accurate..  Historical changes: Keep in mind that property boundaries and legal descriptions can change over time due to subdivision, consolidation, or other factors. Check for any historical records or updates that may impact the current legal description.Remember, the legal description serves as an essential document for identifying and defining the property. By paying attention to these factors and seeking expert advice, you can mitigate risks and ensure a smooth real estate transaction.

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Should You Take the First Offer you get?

So, you've just received that exhilarating call—someone wants to purchase your home! But the thrill can soon dampen if the offer isn't what you had in mind. It's a rollercoaster, isn't it? You're now left contemplating, "Should I take this first offer or hold out for something better? And how do I even negotiate?" This is where a seasoned real estate agent can make all the difference. We're not merely here to list your property and coordinate showings. The real expertise comes into play when that offer arrives. We understand the ins and outs of the market, and we're seasoned negotiators. You're not navigating this journey solo; we're with you every step of the way. A few key Factors to Consider Before Accepting the First Offer, (but by no means all of them.) All-Cash Offers When you get an all-cash offer, there are usually fewer hurdles to clear, (contingencies) particularly concerning financing. This often leads to a faster closing process, which can be a lifesaver if you're pressed for time. However, it's not a guarantee. For example, if your agent finds out that the cash buyer plans to flip the property, they might drag out the inspection phase, as a second price negotiation point. In such cases, waiting for another offer might actually be in your best interest. Some cash buyers aim to secure a property just to keep it off the market, intending to negotiate terms later. The Particular Lender Involved Knowledgeable real estate agents are up to date with the mortgage industry. For example, did you know that right now, due to the market slowdown, 35,000 loan officers quit the industry and 14% of producing loan officers changed employers. Being aware of such changes can help you assess the strength of an offer, if a lender is involved. A lot of transactions are being delayed right now while companies juggle personnel. Delays can cost you money when your moving plans get turned upside down. Out-of-Town Sellers / Inherited Properties When managing an estate-sale property, possibly from out of town, the logistics can be challenging. Accepting an early offer that closes quickly might relieve you of a significant burden. However in some cases, if you are dealing with multiple beneficiaries or need for court approval, selling fast may not be practically possible so waiting for another offer may be better for you. Seasonal Market Trends Believe it or not, the real estate market has its quiet days too. Whether it's Mother's Day, a Seahawks victory parade, or other significant local events, these can slow down buyer activity. Your agent's experience can be invaluable in understanding the seasonal ebb and flow of the real estate market. If you receive an offer during a known slow period, that first offer might be as good as it gets for a while. However, f the market is starting to enter a boom time, it may be worth it to wait and see if you get more than one offer. Regulatory Changes New laws or initiatives can change the playing field overnight. If you're aware that a legislative change is in the pipeline, like Tacoma's Initiative 1, which may make it tougher to be a landlord, locking in an offer before those changes take effect could be wise. Once the law takes effect you may find yourself with more competition as other landlords put their rentals on the market. Laws can also influence property valuations. If Initiative 1 in Tacoma is negatively affects property values, accepting an offer early might save you from potential future losses. Of course there are other laws that take effect, with a timing element to them, like the excise tax triggered when real property is sold. This law went into effect Januray 1, 2020. Before 2020, we had a uniform rate of 1.28% on the sale of all real property. After Januray 1, 2020 there is a variable rate. Currently in 2023, if you home sells for $525,000 or less, then your tax is 1.1%. If your home is sold for $525,000-$1,525,000 then the tax will be 1.28%, If you are $1,525,000-$3,025,000 then your tax will be 2.75% and finally if your home sells for over $3,025,000 then your tax will be 3%. Imagine if you were selling a home back in December 2019 for less than $500,000, you'd probably weigh the initial offer against the potential savings of holding out for a better one that might come in the New Year? But if you were dealing with a property valued over $1.525 million, you would have been more inclined to consider a lower offer, since the extra cash from a higher one, coming in later, might just end up going straight to taxes. Here again, the awareness of your agent would be crucial to guide you in the right direction. Interest Rate Fluctuations The actions of the Federal Reserve, particularly with interest rates, can profoundly impact homebuyer behavior. Rising rates often lead to decreased buying power and lower offers. If you get a reasonable offer while rates are low but expected to rise, it might be beneficial to lock it in. When interest rates start to dip by 1/2-3/4 percent, you will start seeing people jump back in, resulting in  more buyers interested in your listing. More buyers = more competition, and potentially more offers could come your way. Taking an early one too quickly might leave some money on the table. To Take or Not to Take, That is the Question So should you take that first offer? It really comes down to your individual circumstances. By working closely with a knowledgeable real estate agent who listens to your needs and understands your situation, you can be better positioned to make a decision that's right for you. Sometimes that first offer, when examined in the right context, might turn out to be the best one you could hope for. Other times, an experienced agent might advise that the market is strong, and waiting for another offer is practical and likely to get you better terms. After all, wasn't their experience and knowledge of what is happening in the financial, legislative and real estate world why you hired them?

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