JB: Good morning and welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB. For the next thirty minutes, we are going to be talking all things real estate, and we invite your input if you have a question or comment. You can give us a call. We are live in the studio. 336 553-0796, 553-0796. And I am JB. Welcome to the show. And we welcome the man, he has got his name on the radio program. Mr. Jason Bramblett. Good morning.
Jason: Good morning. Good morning. It is live radio. I was just seeing if you were paying attention out there. That is all.
JB: Yeah, sorry about the little pause there. Sometimes you have got to get the squirrels on the conveyor belt moving a little bit.
Jason: They needed some CoQ10 today.
JB: They did.
Jason: They did.
JB: They were a little bit slow there. So hopefully, we can get them back to where they need to be.
Jason: Get that magnesium and then they are going to be good to go.
JB: Holy cow.
Jason: Magnesium squirrels.
JB: There you go.
Jason: Hey, we have got some fun getting ready to happen right here in the Triad. Wyndham coming to down.
JB: Oh, that is right. Big golf tournament coming up.
Jason: Yes. Hopefully, it will, they will not need boats or hip waders to play.
JB: I know. We have had a lot of rain.
Jason: Man, I tell you what. It came down last night. Oh my goodness. It woke me up. It was like serious, serious rain. Lots of issues. We are going to talk about that because I have been getting lots of calls. People are like hey, where did all this water come from in my basement. The walls are dry, but my floor is soaking wet. What happened?
JB: Yeah, there is a lot of folks that have been affected by this.
Jason: Definitely. We are going to talk about that. If you have got a crawl space, we are going to give you a punch list of some things you might want to go check out as well around the house. If you are in that Jamestown area where the Wyndham is over in the Sedgefield area at the Sedgefield course, but it kind of affects the whole area over there. They are running people, busing them back and forth. If you are out and about next week, build in a little extra time. You may need it. If you see a boatload of busses running up and down the road, that is what is going on.
Jason: I will tell you what. They are really good at it. I have gone the past couple of years and I am amazed at how efficient, how quick. You wait maybe five minutes. They do a really, really good job. And if you are looking for, maybe you are looking for a new golf course house, we have got a couple. Maybe thirty-five, forty.
JB: That is great.
Jason: Maybe, I do not know, sixty you could go look at. Depending on what price range. All you have got to do is go to Jason Bramblett dot com. Just put in golf as a keyword or something like that, and you can pull up every single thing we have got out there. But we have got some good emails and some questions this week. Folks have really engaged the show and been sending me some really good stuff. When I start to see things that are really, really common and maybe we get the same question two or three times, and usually those are the ones that I will talk about on the air and dig in there. Then we get some stories that are just, well
JB: Not for broadcast?
Jason: Maybe. They are entertaining though. They are entertaining. We do love you. Promise. But yeah, there are some interesting things happening. June was a weird month. I do not know what happened. We probably should have sampled the water because it was just interesting. Of course, your June, July, you sell them in June, but you close them now, right?
JB: Right. Right.
Jason: In July and August. And we have gotten through all of them. Thank goodness. But flooding, flooding, and more flooding. If you are dealing with that, if you just woke up this morning and you are like what in the world happened, stay tuned because we are going to dig through a bunch of different things to help you figure out if it is a problem you can solve or is it is a problem that you need to get a professional in or is it just one of those fluke things that is, like the hundred-year flood.
Jason: It is just, well, it was your day. So maybe there is nothing that you can do. We are going to dig into that. We have got several things just to point out to you. So we are going to dig into all that today. You can go to Jason Bramblett dot com like I said. You can look at the website there, check out any golf homes. We have got stuff on the, we have got some really cool houses on the lake, too.
Jason: And it is still warm.
JB: Oh yeah.
Jason: Blues Lake, you can go there any time.
JB: That is bathwater.
Jason: Eighty-five in December. You are good.
JB: That is good.
Jason: Let’s jump in, JB.
JB: All right. I will tell you what. You were mentioning some emails. Is it okay if we start off with an email?
Jason: Let’s do it.
JB: We have got one from Bud. It says Mr. Bramblett, could you explain how your program works if the house does not sell and you buy it? We need to relocate, and two mortgages is not an option for us. Thank you. Signed, Bud. I think a lot of folks in that same boat with Bud there that cannot do the two mortgages.
Jason: Absolutely. Well, look at your big companies in our area who we deal with. Sengenta, Volvo, well, it used to be Reynolds.
Jason: A lot of the bigger companies, universities, they have these relocation packages, and there are two reasons why they do that. Benefit for the employee is you are disrupting your life probably because we are asking you to move to a different location. So part of that incentive to do that, because most of them have kids and families and schools and all these things that you have gotten involved with, the company will step in and they will give you what they call a relocation package. They will buy your home if it does not sell in a certain amount of time. So essentially, that is what we created. We just decided that well, why do you have to work for a big company. It is just math.
Jason: So we came up with our own program, our own relocation program, if you will. It is just called a guaranteed sale, which is what Bud is referring to. So, several things that we consider when looking at a property, which pretty much is what everybody else looks at, too. It is kind of like we are a buyer just like Joe Blow off the street is, right?
Jason: But condition, location, appraisal, and this thing called the absorption rate. That may be the one that most people obviously may not be familiar with, but it is really just the same things that we have dealt with with all of our large corporate partners and their relocation conditions. Does the house need repair? That is really what we are looking at.
Jason: Has it been taken care of? We look at deferred maintenance as a key thing we look at. We talked about that a couple of weeks ago on the show. But normally, what we find is if you have deferred the maintenance on the exterior, there is a pretty good, well, about ninety-nine point nine percent chance the mechanicals have not been really maintained either.
Jason: These are the folks that when we come up the porch is rotted and the door jambs are rotted, and then we ask them about a maintenance agreement for their HVAC, and they are like what? I changed the filters once in six years, and that is why your heating and cooling system is wheezing now. If it turns on and you hear a whistle
JB: Not good.
Jason: it is not supposed to do that. Those are the type of things that we are going to look at. But that is everybody. Everybody is looking at that type stuff. A buyer typically today is going to have a home inspected and checked out. That is what they are looking for. They are looking for it is pretty, but are there problems?
Jason: And most homebuyers are not heating and cooling contractors or roofing contractors. That is why they have these professionals to come in here and make sure that this is what I think I am buying and everything is of pretty much sound quality. Or at least reflective of the age. Okay? If you have a thirty-five-year-old furnace, well, let’s face it. That thing should have been dead a long time ago. Great that you got all the use out of it, but whoever is buying that house is probably going to factor in we might have to put a new one of these in. More than likely, yes, you will. Eventually it is going to stop someday. Those are the types of things that any buyer looks at, and of course, that is what we look at as well. Are you going to be able to make the repairs?
Jason: So there are issues, can you take care of them? This is one the things that drove me nuts when we did corporate relocation a lot. I used to do a boatload of it. These guys, they would make the owners fix a nineteen-cent cracked outlet cover.
Jason: I was like really? The house is seven years old. It is missing a screw, man. It is not that big of a deal. And those relocation companies are like nope. Everything. It is all or nothing.
Jason: There was no bend. I get it because they are buying a house basically sight unseen.
Jason: And they are there to protect the employer.
Jason: Because when they lose money on those things, it comes out of somebody’s bank account.
JB: That is right.
Jason: Typically, the big company is the one writing the check. So they are going to protect themselves the best they can. We do not get quite as nit-picky as that. I really do not care. I can fix an outlet cover. If you have got a hole in your roof, that is a whole thing. Indoor waterfall? We are probably not going to qualify. I had a guy who actually got mad because I would not, I could not get his house, he would not do the things we need to get the house to qualify for the guaranteed sales program. One of the things that he did was he put a hydraulic car jack in the crawl space to reinforce the floor. I am like that is not going to work. And he is like it is working. Eventually, the gasket is going to break, and here is a tip. All I have to do is turn this little handle and wham!
JB: You are back to where you started from.
Jason: Right. This guy could not understand. He kept arguing with me. It is rated five thousand PSI or whatever, pounds per square inch, and it is way maximum overload. I am like it is not permanent though. It needs to be bricks on a footing.
JB: That is right.
Jason: Call downtown to the county and say hey, is this an acceptable repair? So obviously, that was a pretty big red flag. Well, then we found out he did a lot of the plumbing and electrical work, too.
JB: Oh boy.
Jason: In case you electricians did not know out there, duct tape is just as good as anything else you can use.
JB: That is right.
Jason: I get it. It was a desperate situation. I get why people call us in those types of situations.
Jason: They had some financial problems, and they were doing what they could do. The house has to be safe.
Jason: It has to be safe. It has to be safe because when we go to sell it we are either going to have to make it safe or fix everything that is wrong with it. Those are the types of things that we are looking at just like the relocation companies do when they come in and offer these to these corporate things. The other thing that the relo companies are a stickler on is they will not let the homeowner make any repairs themselves. They all have to be done by professional contractors.
JB: Oh really? Okay.
Jason: They want that in writing. They want to know that person was qualified to make that repair. The other thing we do is an appraisal, and that is pretty standard. We get an appraisal just like the relocation companies do. But the absorption rate really is where we look at it. That is where I assess my risks. How many houses like yours are on the market and sold in the last thirty, sixty, one hundred eighty days and a year? And that gives us a percentage and that gives us a likelihood or probability of how long are we going to be stuck with the house? Are we going to be able to sell it quick? Is it going to be a buy and hold? All those types of situations which is just exactly the same metrics that everybody uses.
Jason: If you are looking at this type of buyout type situation. We have been doing it for twelve years. We have offered the guaranteed sale. I was doing it for eight years before that the corporate relocation, which is kind of where the whole idea came from.
Jason: We have bought several millions of dollars’ worth of real estate in the Triad, and we will continue to do that. It is a great program for folks just like Bud. This is our number one person that we see is the person that is getting relocated out of the area, sometimes by choice, but sometimes the companies do not offer, depending on how high or low you may be in the company, they may not offer you an incentive, a relocation package. So that is where we get a lot of calls. Folks that are having to move to Texas or Tennessee do not want to have a house two thousand miles away. Or just simply cannot afford to. With our program, we have got a hundred twenty days to sell it, and if we have not sold it, we buy it. And guess what, Bud? When I own it, you have to leave.
JB: That is right.
Jason: You cannot stay.
JB: No squatting.
Jason: I actually had to put that in the agreement though because I did have somebody that did, they kind of thought oh, you mean I have got to leave now?
JB: Yeah, that is usually how it happens.
Jason: Yes, we kind of need you to leave so we can get it fixed up and get it sold.
JB: That is right.
Jason: It is out there for folks like Bud if you need it. If you need, a situation where you simply cannot or do not even want to take the risk of getting stuck in two mortgages. That is a great program for that, too. All right, JB. Let’s do this. Let’s take a quick timeout. Let’s go pay a couple of bills. We are going to come back. We are going to hit that flooding list, so if you have issues right now with your crawl space, your basement and or well, just your house in general with all this water, stay tuned. We are going to give you a good weekend job punch list to go through.
JB: All right.
Jason: Very good.
JB: Sounds good. Stay with us, folks. We’ll be right back. (in/out music) And welcome back. You are listening to Triad Real Estate 911 with your host Jason Bramblett. I am JB. And before the break there, of course, when you opened up the show, Jason, we have obviously had a lot of flooding
Jason: Yes, we did.
JB: this past week or so. Walk us through that warning list. Talking about some flooding issues here.
Jason: Absolutely. The first place you need to look is up actually.
JB: Well, yeah.
Jason: Which is your gutters. This is key because this is where all, really most of the water is coming own with force anyway, and also a lot of it. When you think about how much water a roof is collecting, it is a lot. Are the gutters overflowing? If they are overflowing, then they are not getting to the downspouts. It is just dumping right over the edge, and then of course, what is right there? Your foundation. That could be a source of your issue. It is just a clogged gutter. I had an issue at my house. They are not pitching, the pitch is not strong enough to push all the water, when we have these monsoon storms.
Jason: And we have a gutter that is just, it cannot keep up with the volume. So we are going to have to either make sure it slopes quicker and or get a bigger gutter or I do not know. Do something. But we have seen that issue especially this past three weeks. It has been unreal.
JB: It has been crazy.
Jason: It could be some simple debris in there that needs to be cleaned out. The next thing is to actually look at the downspouts themselves. Are the downspouts connected first of all? You would be surprised how things just happen. It settles over time and you get this gap. When it is really raining hard, it is overflowing that, and of course, that is right there, just right next to the foundation wall and or the basement wall, and it is running down and if you have got a block basement, they are not, cinder block is not waterproof.
Jason: Just set one outside. Take a cup of water, pour it on top. It will pretty much absorb the whole thing.
JB: It is porous.
Jason: It is.
JB: People do not realize that.
Jason: Very much so. The contractors will put the tar and all the goop on the outside of it to put that sealant there, if you will, but just like anything else, it is not one hundred percent.
Jason: When you have these types of situations, you have these conditions, where it is just unbelievable how much water and pressure and static pressure, you can end up with some pretty big issues pretty quick. The downspouts, check those. Also look for cracks or is it broke or anything like that because that is a huge, big source. This is the other one. This is probably the one that I see the most is over time, your house is new. The building inspector comes out there and they measure, and they look at and they make sure that the pitch of the dirt or the yard is flowing away from the house at the proper angle.
Jason: But over time, after three, four, five years, we keep chucking pine straw and nuggets and all kind of stuff on there
JB: That is true.
Jason: and it keeps building up. And what we normally do is because all the bushes are in the way, what gets the most pine straw and the most mulch is the front part. So we keep building these mounds up, and now what we are doing is we are pitching everything toward the back of the house, or toward the house after it starts to decompose, and now becomes dirt. After ten years, you have added six, seven, maybe eight inches of material and you just keep piling on top. Well, now all of that water is just pitching right up against the house. Look at that. You just stand off to the side, kind of turn your head sideways there, and if it is rolling towards the house, that is not good.
JB: So you are creating like a little dam there.
Jason: Pretty much.
JB: So it is all just backing up there.
JB: I did not think about that.
Jason: It will rest right up against the foundation wall, and of course, the ground will absorb it until the ground cannot.
Jason: And then where does it go? Its static pressure pushes right up against your foundation of the house. Some of you, unfortunately, have found out the hard way this past three weeks that you have got some major issues and where the foundation wall of your home is now cracked, and it is actually bowing in. That is the pressure of that dirt being compacted and that static pressure. I can tell you from first-hand experience it will absolutely collapse your house. Big time. I had the front of a home, forty-two feet of the house landed in the basement.
Jason: Yeah, that is not cheap to fix.
JB: Yeah, that is major.
Jason: And by the way, your insurance does not cover that.
Jason: No. If you look at your insurance policy, your standard homeowners’ insurance policy does not take care of ground movement unless it is an act of God like an earthquake.
Jason: If it is simple water pressure, because they look at that as a neglected thing, it is not covered.
JB: That is good information.
Jason: You probably can get a special rider. I am sure they will take your money for it. They will make one up. You can get a special rider for anything. You can get black cat insurance. Some of these guys will take it. So check that slope. That is a big one there. A lot of you have crawl spaces. You have vent wells. That is to keep the air flowing under the house, so you do not end up with this molded and mildewed mess in the basement. The vent wells need to be opened so you can keep the air circulating. But if you open them and you have got all the debris and everything pitching back toward the house, guess what? You are driving down I-40 in a rainstorm with your sunroof open, and everything is just dumping into the crawl space. I have seen where you get in the crawl space, it has got six, seven, eight inches of standing water.
Jason: It is like a little pool under there. A lot of times it is coming in from overflow gutters, a bad downspout into the crawl space vent, and it is just flooding the whole thing.
Jason: So make sure that is, the earth needs to be below, it makes sense, the vent because yet have I seen water go flying up. I am not saying it cannot. Just from a gravity standpoint, I have not seen it jump over the vent.
Jason: But that can be a big mess. A vapor barrier, which is nothing more than a fancy word for a piece of plastic. Right? It needs to be six millimeters or thicker to put in there. That just keeps some of the humidity and the moisture from the dirt coming up and hitting the timbers and insulation and those types of things. That is a pretty inexpensive thing. Some people can do it themselves. If you do not like dark, muddy, cold, wet places like your crawl space, there are people to do it for you.
JB: That is right.
Jason: There is somebody out there that will do it.
JB: It is kind of creepy place.
Jason: It can be especially when you get those camel cricket things down there.
JB: Oh man.
Jason: Geez. Those things are
JB: Harmless as can be, but they are ugly.
Jason: Yes, they are.
Jason: They are no fun. That is no fun. Another big one, and this is, especially right now in the summer, is the condensation line coming off the heating cooling system.
JB: Oh yeah.
Jason: All right. So you could have it in the crawl space, and I have seen it where the pipe is just broke, and it just is not getting the water out. I have seen where little critters have gotten up in the pipe because it is going outside, and they have made little houses in there, and clogged the whole thing up.
JB: That is nice.
Jason: Or just landscaping, mud gets in it or whatever, and it ends up backing up in the crawl space and it breaks.
Jason: So those are things to check. If you do have one and it is dumping right beside the house, the code has changed. Now they make you push them out a little bit, but that is pretty recent. Most of them are only three to six inches away from the edge of the house.
JB: Yeah, it seems like mine is just like it seems like.
Jason: So now they make you put them out a little bit further. So if you have one and that part of your crawl space or basement is always wet, it is probably the condensation line. I am told those things in the summer can dump anywhere between seven to ten gallons of water a day.
JB: Oh wow.
Jason: So it is a lot. It looks like a little drip, but twenty-four hours a day, it adds up pretty quick.
JB: That is right.
Jason: So that is a quick little punch list for your weekend there. Definitely check those gutters and downspouts and vent wells. Those are the big ones. And if you need help, go to Jason Bramblett dot com. We have got great contractors that can help you with your water mess this weekend.
JB: All right.
Jason: All right, guys. Have a good one. We will see you here next week.
JB: All right. Thanks, Jason. Talk to you then. Have a great weekend everyone.