Redfin’s Home Inspection Class
Redfin’s Prince William Team
February 15, 2014 Woodbridge, VA

Host: Kim Pace
@Redfin
faceb...
Meet Redfin’s Prince William Team
Agenda
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●
●
●
●
●
●
●
●
●
●

Overview of the process
Are you ready to buy?
Understanding the market
Never miss a home
Cho...
A Little Bit About Redfin
Redfin is a real estate brokerage on a mission to make buying
and selling a home better for you....
Save $4,000 on Average
Understanding the Buying
Process
Overview of Buying a Home
Research

Search

Offer

Closing

Your needs

Define Preferences

Comparables

Earnest money

Th...
Are You Ready to Buy?
Are You Ready to Buy?
●
●
●
●
●

Do you have a family and need room to grow?
Do you expect to stay put for 5 or more years...
Understanding the
Market
Story of 2014: Low Inventory
Story of 2014: Rising Prices
Prince William Area Overview
Where Is the Market Headed?
● Supply of homes is at a five-year low and won’t increase
much more this year
● Rents have be...
Never Miss A Home
Real Estate Sites: What to Look For
●
●
●
●
●
●

Has all the homes for sale
Updated every 15 minutes
Real-time sales data
...
Never Miss a Home
Inspections
Inspection Services
The exterior and inside of the home should be evaluated
equally.
Lots and Grounds
● Issues with lots and
grounds can cause many
issues.
● Grade issues can cause
structural damage to a
hom...
Lots and Grounds
The lot and grounds of a home are
very important. These are some of
the most important items that should
...
Exterior Surfaces & Components
The exterior surfaces portion of
the
Inspection should document in
detail the areas below
►...
Roofing Systems
● Roof style, material,
condition, age and
location
● Flashing material
● Valleys
● Skylights
● Gutters, d...
Attic Components
● The roofs framing and
sheathing
● The insulation type and
depth
● Attic ventilation
● Attic fans and ho...
Garage
● Type of structure,
detached or attached
● Exterior material and
condition
● Service door, overhead
door, opener
●...
Bathrooms
● Bathroom walls, ceilings and
floors can give you ideas if
water was an issue. If a ceiling
of a bathroom has w...
Garage
• Bathroom walls,
ceilings and floors
can give you ideas if
water was an issues
• Bath ceiling with
water mark coul...
GFCI Outlets
Areas where water
and electric could
meet should have
GFCI outlets, Ground
Fault Circuit
Interrupter, such as...
Fireplaces
● Fireplace construction
will be prefab, brick or
stone.
● Gas leaks on gas log
sets
● Flue condition should
be...
Bedrooms
●
●
●
●
●

Walls
Floors
Windows
Smoke detectors
Test for water issues
with moisture meter
and thermal imager
Kitchen
● Appliances that will
require testing. Identifying
if on recall lists.
● Electric outlets in kitchens
should be G...
Electrical Services
Example of an over
heated breaker due
to double-tap
Structural Inspections
● There are areas of
concern that can be seen
from the exterior of the
home to the basement.
● Stru...
Basement Inspections
Some pumps need to
be inspected properly
because they are one
of the main reasons
basements get water...
Plumbing
● Service line material and
condition
● Water main location
● Water piping material,
condition, water pressure an...
Plumbing
Service access for
your sewer for issues
with blocked-sewer
repairs
Plumbing
Water heaters will need
to be checked for
► Gas leaks
► Water piping leaks
► T & P pressure valve
and piping
► Le...
Laundry Room
Inspect laundry room
for:
► Dryer gas piping for
leaks
► Electric outlets require
GFCI outlets
► Laundry tub ...
All Done!
So What Now?
●
●
●
●
●
●
●

Make sure it’s the right time for you
Start browsing online
Check out our Home Buying Guide
Fi...
Thanks for Coming!
Questions? Get in touch:
Kimberly Pace
kimberly.pace@redfin.com
Jennifer Chambers jennifer.chambers@red...
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Redfins Prince William Inspection Class 2.15.14

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  • [REQUIRED – Updated every time]Agents should use this slide to talk about what they’re seeing on the streetTell some stories!
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  • Redfins Prince William Inspection Class 2.15.14

    1. 1. Redfin’s Home Inspection Class Redfin’s Prince William Team February 15, 2014 Woodbridge, VA Host: Kim Pace @Redfin facebook.com/Redfin
    2. 2. Meet Redfin’s Prince William Team
    3. 3. Agenda ● ● ● ● ● ● ● ● ● ● ● Overview of the process Are you ready to buy? Understanding the market Never miss a home Choosing an agent Touring Mortgages Break! Short sales & foreclosures Making an offer Acceptance to closing
    4. 4. A Little Bit About Redfin Redfin is a real estate brokerage on a mission to make buying and selling a home better for you. ● Accountability: we’re on your side, giving you honest advice ● Technology: sellers get more traffic; buyers tour homes first ● Value: a full-service brokerage that saves you thousands  No obligation
    5. 5. Save $4,000 on Average
    6. 6. Understanding the Buying Process
    7. 7. Overview of Buying a Home Research Search Offer Closing Your needs Define Preferences Comparables Earnest money The market Instant Alerts Draft offer Inspection Neighborhoods Open houses Negotiate Loan application Agents Home tours Mutual acceptance Title review Mortgages Appraisal Preapproval Financing approval Closing
    8. 8. Are You Ready to Buy?
    9. 9. Are You Ready to Buy? ● ● ● ● ● Do you have a family and need room to grow? Do you expect to stay put for 5 or more years? Have you saved up for a down payment? 3.0% to 20+% Have you saved up for closing costs? Typically 0-2.5% Can you rent for less?
    10. 10. Understanding the Market
    11. 11. Story of 2014: Low Inventory
    12. 12. Story of 2014: Rising Prices
    13. 13. Prince William Area Overview
    14. 14. Where Is the Market Headed? ● Supply of homes is at a five-year low and won’t increase much more this year ● Rents have been rising, making buying more attractive ● Market stabilized – price increases in many areas ● Rate increases - biggest potential issue for buyers
    15. 15. Never Miss A Home
    16. 16. Real Estate Sites: What to Look For ● ● ● ● ● ● Has all the homes for sale Updated every 15 minutes Real-time sales data Insights from agents Lots of data Mobile apps
    17. 17. Never Miss a Home
    18. 18. Inspections
    19. 19. Inspection Services The exterior and inside of the home should be evaluated equally.
    20. 20. Lots and Grounds ● Issues with lots and grounds can cause many issues. ● Grade issues can cause structural damage to a home due to poor grade or poor sloping. ● Trees or bushes can cause damage from the roots to the limbs.
    21. 21. Lots and Grounds The lot and grounds of a home are very important. These are some of the most important items that should be documented on your property. ► Grade ► Driveway ► Patio ► Walks ► Steps ► Porches ► Decks ► Balconies ► Trees and bushes ► Window wells ► Fences ► Surface drains ► Lawn sprinklers
    22. 22. Exterior Surfaces & Components The exterior surfaces portion of the Inspection should document in detail the areas below ► The buildings exterior surface and its condition. Including all trim, doors, windows. ► Door bells ► Exterior lighting ► Exterior outlets ► Hose bibs ► Gas meter and shut off
    23. 23. Roofing Systems ● Roof style, material, condition, age and location ● Flashing material ● Valleys ● Skylights ● Gutters, downspouts and leader material ● Plumbing vent ● Chimney material and location
    24. 24. Attic Components ● The roofs framing and sheathing ● The insulation type and depth ● Attic ventilation ● Attic fans and house fans ● Wiring ● Bathroom fans should pass through the attic to the exterior
    25. 25. Garage ● Type of structure, detached or attached ● Exterior material and condition ● Service door, overhead door, opener ● Electrical outlets and lighting ● Condition of the slab ● Roof and gutter system
    26. 26. Bathrooms ● Bathroom walls, ceilings and floors can give you ideas if water was an issue. If a ceiling of a bathroom has water marking or staining then there may be a possible leak from the bathroom above the ceiling. ● This particular home had a leaking overflow in the bathroom tub above this ceiling.
    27. 27. Garage • Bathroom walls, ceilings and floors can give you ideas if water was an issues • Bath ceiling with water mark could indicate leak from above
    28. 28. GFCI Outlets Areas where water and electric could meet should have GFCI outlets, Ground Fault Circuit Interrupter, such as bathrooms, kitchens or garages.
    29. 29. Fireplaces ● Fireplace construction will be prefab, brick or stone. ● Gas leaks on gas log sets ● Flue condition should be documented ● Damper location and condition
    30. 30. Bedrooms ● ● ● ● ● Walls Floors Windows Smoke detectors Test for water issues with moisture meter and thermal imager
    31. 31. Kitchen ● Appliances that will require testing. Identifying if on recall lists. ● Electric outlets in kitchens should be GFCI type outlets ● Inspect plumbing components to assure there are no issues with traps or faucets. ● Cabinet installation ● Countertop installation
    32. 32. Electrical Services Example of an over heated breaker due to double-tap
    33. 33. Structural Inspections ● There are areas of concern that can be seen from the exterior of the home to the basement. ● Structural type, brick or wood frame? ● Beam and post material should be documented ● Joist or trusses should be sized ● Slab condition and location
    34. 34. Basement Inspections Some pumps need to be inspected properly because they are one of the main reasons basements get water. Ejector pumps need to be tested also.
    35. 35. Plumbing ● Service line material and condition ● Water main location ● Water piping material, condition, water pressure and volume ● Galvanized water piping versus copper ● Waste and vent piping material and condition ● Service access will need to be located and documented ● Gas leaks ● Water heater age, condition, type
    36. 36. Plumbing Service access for your sewer for issues with blocked-sewer repairs
    37. 37. Plumbing Water heaters will need to be checked for ► Gas leaks ► Water piping leaks ► T & P pressure valve and piping ► Leaking tanks ► Insufficient heating
    38. 38. Laundry Room Inspect laundry room for: ► Dryer gas piping for leaks ► Electric outlets require GFCI outlets ► Laundry tub and drainage system for the washer ► Flood pans for washers in 2nd floor areas
    39. 39. All Done!
    40. 40. So What Now? ● ● ● ● ● ● ● Make sure it’s the right time for you Start browsing online Check out our Home Buying Guide Find the right agent Look for a local lender and get pre-approved Start seeing homes in person Make an offer & close the deal
    41. 41. Thanks for Coming! Questions? Get in touch: Kimberly Pace kimberly.pace@redfin.com Jennifer Chambers jennifer.chambers@redfin.com Stacy Holscher stacy.holscher@redfin.com Amie Conteh amie.conteh@redfin.com Check out our upcoming classes: http://www.redfin.com/buy-a-home/classes-and-events

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