Playing the Market

Tips for the buyer: how to drive the price down.

●Don’t let the amenities snow you; concentrate on roof, foundation, plumbing,and heating and cooling systems.

●The average life of a composition roofis 15 years: a wood shingle roof, 17-20years. Find out the age. In composition(asphalt) roofs, large black dots maymean hail or tree limb damage; largeblack streaks indicate age (the tar is actually eroding). For wood shingle roofs,check texture (worn wood shinglesweaken because of thinning); look formoss, which breaks down wood fiber.

●Check the outside brick from the window sill up. If the brick has pulled awayfrom the house more than half an inch,the foundation has shifte

●Gas heater: Turn it on and check thewalls of the burner chamber for heavysoot and flaking rust, which indicatewear. With the blower and burner on, theflame should be stable: An unstable flamecould mean a hole in the chamber, leakingdangerous carbon monoxide into thehouse. The furnace chimney (flue pipe) inthe attic should be attached properly tothe metal chimney jutting through theroof (roof jack). If loose inside the attic,the pipe could release sparks.

●Central air conditioning: Let the a/crun for 15 minutes before testing. The airblowing from the outside compressor unitshould be 30° above the outside temperature. Find the two copper pipes on theunit; the small one (the size of a pencil)should be lukewarm, the larger one (thesize of a hot link) should be icy cold, butnot frozen. If frozen, it could mean a badcompressor. Measure the temperature inthe middle of the room and compare it tothe temperature at a vent. There shouldbe a 14° difference. (If the room is 72°,the vent air should be 58°.)

●Wiring: If the house is 30 years old orolder, expect problems. Three or fourfuse boxes could mean someone’s beenfooling with the wiring. You can take offa switch plate or outlet cover to find out ifthe wiring is aluminum or copper. If it’scopper, you’re in good shape.

●Plumbing: Turn all the cold waterfaucets on and flush the toilets simultaneously several times. If the toilet overflows or the plumbing backs up, youcould need re-plumbing. Does the waterin the toilet trickle away? The pipes couldbe too small, causing low pressure. Lookaround the tub and shower stall for leaks.Check that the commode and sink aresecurely attached to the floors and walls.

Tips for the seller: how to drive the price up.

●If major repairs are needed (roof,foundation, plumbing, heating and cooling systems), make them before selling.Major faults rarely slip past even the mostlenient inspector. A big flaw could drop your market value, or queer a sale entirely.

●If a major flaw is found during inspection, have the buyer draw up his list of requested repairs in writing. Get at least two bids for each repair requested. Don’t feel required to abide by the buyer’s bids; dickering is an accepted part of home buying and selling. For $30 to $50, you can have your own inspector check flaws alleged by the buyer for accuracy and repair price. Once you’ve decided you want to negotiate, offer the buyer a compromise sum; dickering over specific prices never works, and can only create ill will. Once you’ve decided on a figure, subtract it from the original sale price. This will save you a cash outlay, and will also reduce your sales commision.

●Amenities such as swimming pools,redwood decking, and sprinkler systemsare valuable selling points. However,don’t add a $9,000 pool just to make ahomerun sale. Most real estate agents willtell you that a pool will not return $9,000at sale time.

●If taxes are low in your area, or theschools and shopping good, point it outto the prospective buyer. The decision tobuy usually rests on the buyer’s being ableto picture himself living in the home.

●Minor paint or carpet deterioration onthe interior is generally not a seriousdrawback. Most buyers, especially in aboom market, accept interior sprucing upas part of their responsibility.

●Keep the house clean and pay attentionto how it smells. A popular tactic here isto simmer vanilla in a pan of hot water fora few hours before the prospective buyers arrive.