We Feel Lied To...

IMG_20190913_122555_476000.jpg

Dave,

After moving into our house, a neighbor told us that a few years before a man had committed suicide in the kitchen.  We would not have purchased our home had we know this had happened in the house.  Do we have any recourse other than simply selling the house and moving on or accepting what happened and making the best of it? Surely someone should have told us about what happened!

William, Grand Junction


William,

 

I am sure the news came as a shock to you and your family and I have no doubt that it may make it more difficult to live there, knowing what happened in the home.  Unfortunately, in your case,  Colorado has no requirement to disclose such details about any property being sold.  Under and Exclusive Right-To-Sell Listing Contract, Section 5.2.5 deals with situations like this.  It specifically states the broker shall NOT disclose “any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the property”, without the informed consent of the seller. 

 

It is at the sole discretion of the seller to disclose or not to disclose.  It is likely that your agent did not have any knowledge of the act and quite possible that the listing agent did not know.  Even if the listing agent had knowledge, he/she can not disclose it without the sellers consent.  Bottom line, if the seller chooses not to disclose, it is highly likely a buyer would not find out till after the fact.  

 

I believe the intent is to not stigmatize a property because of a senseless act that was not the “fault” of the home and thus seriously impact the marketability and value of the home.   You will have to decide what is best for you and your family and I would remind you that you do not have to disclose what happened if you choose to sell.  My suggestion would be to make the best of it.  It is you chance to give this home a “second chance” at being a happy home and making it a home that is filled with peace and love and turning a bad past into a bright future!!  A home is what you make of it, moving forward, not what happened in the past.  Obviously you will choose which way to proceed, but you might find it an opportunity for your family to choose a path of healing and turn the page on a past which was filled with hopelessness and fill it with hope. 

I hope this helps and I will bet you can give this home a new start!!

 

Dave Kimbrough

The Kimbrough Team

RE/MAX 4000, Inc.

Is Now a Good Time To Buy?

IMG_20190906_122504_450000.jpg

Dear Dave,


It looks like interest rates are going pretty low. We are thinking about taking the jump and buying a house. Do you think that now is a good time to buy considering the rates or should we wait until after the first of the year?

We have heard many different opinions on the time of year to buy a home and just aren’t sure of when to proceed.

We would like to know what you think. Thanks for the time- 

Jim and Sherri - Grand Junction, CO


Jim and Sherri,

Yes, I believe it is a great time to purchase a home!  We talk about it all the time with our clients and prospective clients.  If you believe you are going to be staying in your home for over 3-5 years then I believe buying at today’s interest rates (again at a multi-year low) is a really good idea.  As for the time of year…. I believe any time of year is a good time of year to buy, as long as it is the right time for you and you find the right home!  I believe the home you live in should be more than an investment, it should be where you want to shape your life and create memories and if you find that place, then that trumps the right/wrong time to buy! 

Who knows what next year will bring… higher prices?  Lower prices? Higher rates? Lower rates? Economic stability? Economic turmoil?  Who knows?  That’s why I subscribe to the “if the time is right” philosophy.  On a personal note, I have many times been hesitant to make a move because of future uncertainty and come to later realize that the uncertainty I was concerned about never materialized.  It was more my own concern about making the wrong decision that I got in the way of making the right one!  Often times the right decision is simply the decision we make, because each of us has a significant impact on the outcome of our decisions!  I will say this in close, don’t pass up on wave after wave looking for the perfect ride, make the most of the wave you catch and you just might get the ride of your life!  Good luck and make the most of whatever path you decide to take.

 

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

Can We Perform Our Own Home Inspection?

IMG_20190906_122338_709000.jpg

Dave,

My husband is a home inspector, can he inspect our house we want to purchase?

Anita, Grand Junction


Anita,

Absolutely!  There are no rules regarding who can and can not inspect a home!  In fact, many of the inspections performed on our listings each year are done by the buyers themselves or one of their relatives.  You can choose whomever you want to do your home inspection or even waive the inspection all together.  We always encourage buyers to perform a home inspection by a reputable home inspector so if you are married to one then you probably know one! : ) 

I hope everything checks out great and you love your new home! 

 

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

What are the most important things to consider when evaluating your homeowner’s INSURANCE policy?

Meeting.jpg

Dear Dave,

We recently bought a house and have been looking at what exactly our homeowner’s insurance covers.  We are quickly learning that there is a lot more to it than we initially thought and it is actually more complicated that we imagined it would be.  What do you think are the most important things to consider when evaluating your homeowner’s insurance?

Linda – Grand Junction, CO



Linda,

 

I will admit, your question is going to teach me a thing or two about homeowner’s insurance, as I must admit it is not something I have spent any significant time looking over.  I have spent the past 15 years trusting my insurance agent, Mike Daniels at American Family Insurance, to make sure we have the right insurance coverage.  So where better to turn for a little help in giving you a credible answer?  I asked Mike to give us some insight into what you need to look for when reviewing your homeowner’s policy.

 

“Keep in mind that every homeowners needs are different and very personal, finding a local company and a local representative is a leading factor to ensure you are getting proper guidance and counsel.  There are a lot of great people in the business.  There are

2 homeowner’s policies that are very popular, HO3 and HO5.  Both of these will cover all named perils, however the form 5 will throw in some supplementary coverages that some will find important and some will not.

 

Everyone should pay close attention to look over the named perils of how the home is covered.  These primarily include fire, smoke, theft, windstorm, hail, explosion, vandalism, and frozen and broken plumbing.  Every company or agent should provide you with a brochure of all the named perils and supplementary coverages included with your policy.  When the policy comes in the mail, take the time to review the coverages and then also spend time reviewing the exclusion section of your policy.  It is important that if you have questions to call your agent to answer your questions or correct anything that may need to be fine-tuned.

 

As a home owner you need to consider the dwelling amount, how much will it be to re-build your home?  Make sure the insurance policy will cover that amount in full.  It is also important to know how much the deductible amount is on your policy.  Make sure to ask yourself how much you can afford if you have a loss?   The higher the deductible the lower your premium costs will be.  Generally speaking, if you maintain your property, you should be able to go with a higher deductible.  Lastly you also need to consider personal property loss.

 

When we are looking at personal property coverage, the questions to ask are how much? And how is that covered?  Also consider any specialty items you want covered such as jewelry, coin or gun collections or just any collection or specialty items you want to make sure are covered.  Lastly, look for discounts including Alarm systems, age and type of roofs, age of home, complete renovations.  It is also possible to save by combining other insurance needs including automobile and umbrella policies.  MOST IMPORTANTLY, review your homeowner’s policy at least every two years!” 

 

Well, that about covers it and as you can see, there is a lot to it and being a bit overwhelmed is completely understandable.  I always recommend, find an agent you can trust and build a relationship with.  I know, for our family, when we need our insurance to kick in, we can trust Mike has us properly covered.  Consistently review your policy with your agent to ensure you are both staying on top of your policies and things that may have changed so you are properly covered if you ever have to make that call.  

 

Dave Kimbrough

The Kimbrough Team 


Have a question? Ask Dave!

Advice For Providing Banking Passwords For A Mortgage Loan Application Portal?

grand junction real estate

Dave,

We were applying for a 30-year fixed-rate mortgage. Our credit scores are in the 800’s, and we were applying for a mortgage in order to avoid IRA withdrawals and the taxes. This mortgage company is pushing us to use an internet portal that requires all of our passwords to our banking and investment accounts. Having had my security hacked twice, I refused. They said I could furnish copies of the accounts, but when I did, they made it so difficult for me that my only course would be to furnish my passwords. Am I wrong to be concerned about this?

- Kathy, Grand Junction



Kathy,

First, I think congratulations are in order for the 800+ credit scores! It's not very often that we see those kind of credit scores so a little pat on the back is in order. As for your question, I do believe you have good reason to be concerned, but to be sure I posed your question to James Pulsipher, Branch Manager of Fidelity Mortgage.  He knows the Mortgage industry better than anyone I know, so I figured who better to ask than James!

Here’s what he shared with me, “I think that you are right to be concerned. In today’s tech-forward culture there are many solutions like this that are designed to make the process of obtaining a loan easier. However, it is just an option – not a requirement. The reason that this option has become available is that many people would prefer to provide that information instead of providing the documentation. I would simply let the lender know that you are happy to provide them what they need outside of this automation. What they will likely need is a 60-day statement on any banking accounts of reference. Hope that helps.”

Good to know that you have the option to provide the information outside of their internet portal.  EVERYTHING is going the route of being easy and less cumbersome as our lifestyles are busy and time becomes more and more valuable. On a personal note, I know when I applied for a loan a couple of years, back with James, that Fidelity also uses a portal. I was intimidated and concerned at first, but quickly found that I fell in love with the ease of following the process and providing documentation online versus delivering paperwork. By the time we were done, I very much appreciated the collaboration of my accountant, James’ office and the ease of sharing needed documentation through the portal. Keep in mind it is always good to be wary of how you provide SS#’s and bank accounts to those requesting them. 

One note is to NEVER send either your bank account numbers or SS numbers via email. There are hackers and scammers that are CONSTANTLY scanning each and every sent email for numbers that fit the right character configurations of both and when they find a match consider yourself in serious jeopardy. I have several stories I could bore you with that would provide you with the proper amount of fear to never email either. 

The bottom line…you are right to be concerned as our information is no doubt under constant assault! You know the old saying (my mom would be proud!), “It’s better to be safe than sorry!” Great question and thanks for reading “Ask Dave”.

Dave Kimbrough
The Kimbrough Team

Have a question? Ask Dave!

Name *
Name