You've finally found the perfect house. You can see yourself living there for years to come, but just as you're about to submit an offer, your realtor points out a few possible issues with the house. You are suddenly not so sure about this property. What gives? Your realtor is just doing their job as an expert in luxury real estate. They’re trained to notice warning signs that buyers can often overlook.
The team at Jennifer Landon
real estate has outlined below the potential problems that realtors are trained to spot.
Poorly maintained systems
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While on the lookout for Beverly Hills real estate that matches their clients’ high standards, realtors are trained to notice small issues that could indicate a major problem. One of the biggest warning signs realtors look for is poor maintenance of major systems
. This can include everything from an electrical panel that's not up to code to wiring that needs to be replaced to a pipe that is leaking. If these systems are not properly maintained, it can mean a large repair or replacement expense for a new buyer.
An experienced Beverly Hills realtor will work with a professional home inspector to make sure the home and its major systems are in good shape before you make an offer.
Water damage is one of the most common and expensive problems faced by homeowners. If not caught early, water damage can lead to mold growth, structural damage, and even health problems. That's why it's so important for homebuyers to be aware of the warning signs of water damage. Realtors look for telltale signs of water damage
, such as peeling paint, warped floors, and stains on walls or ceilings. If they suspect that a house has water damage, your realtor will discuss the issue with the inspector. With a little bit of investigative work, you can avoid investing in a Beverly Hills home for sale that needs future plumbing repairs.
Too many houses for sale in the area
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When there is a long list of homes for sale in a neighborhood, it’s an indicator that the market might be saturated and prices may drop. While this may not always be the case, it is important to be aware of the potential issue so that you can make informed decisions about your investment.
Ask your realtor if there is more than six months’ worth of inventory on the market; if so, this is a sign that there may be too many houses for sale. Another red flag is if the home prices in the area have been falling for three consecutive months. If you see these warning signs, talk to your realtor before making any decisions.
While an oversupply of homes can be a cause for concern, it's important to remember that every market is different. What may be a red flag in one area may not necessarily be an issue in another. It’s the job of a real estate professional to stay informed and be aware of market conditions so they can provide proper guidance for their clients.
Lack of curb appeal
When the landscaping is overgrown, walkways are cracked, the roof needs repair, or paint is peeling or chipped on a home, the curb appeal drops. When the house looks untidy on the exterior, buyers and realtors often assume that the interior may need work and homeowners are struggling to keep up the maintenance of their home.
High turnover rate
Realtors are no strangers to the occasional odd request or showing, but there are certain red flags that they notice. One such warning sign is a high turnover rate in a building or neighborhood. This could be an indication that the area is not well-maintained, or that there are issues with the plumbing, sewer, or electrical systems. It could also be a sign that the management company is not responsive to residents' concerns. Whatever the cause, this is something that realtors should consider when guiding their clients on real estate transactions.
If you're ready to start looking for a luxury home in Beverly Hills, it’s crucial to work with a qualified and experienced Beverly Hills realtor who knows the area. Contact Jennifer Landon
to guide you in your search for the perfect home.*Header photo courtesy of Pexels