Madison WI, Real Estate and Residential Rental.
benanton
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Posts by benanton
Good Hands
Jun 30th
This AM I was pulling up to the parking lot of my office when my path was blocked by a squad car and a menacing traffic officer. It seems the lot was now a victim staging area. I had to ask, “Victims of what?” I was then told there was a really big fire.
As it were, an historic 24 unit apartment building on Webster, that also housed the Underground Food Collective and a salon was ablaze.
As a landlord I imagined myself in that predicament. First I would be relived to know that no one was hurt or even worse died. As of now, I believe that it the case with the fire today.
Second I would pray it was not my fault. Certainly it could not be my negligence, but what if the fire came from the building, the electrical, the furnace?
Then I would hope the cause was found, and almost that blame could be laid somewhere, why, I’m not sure. Comfort, closure, someone for my insurance company to sue?
Then I thought not only about the people that lived there, but those that planned on moving out or in this coming August, as the student rental season begins.
Every time I sign a lease, I read aloud the suggestion that a renter get insurance to cover their belongings. A landlords disaster insurance policy will insure the home, but not the contents. Generally only about 100$ a year for thousands of dollars of coverage, you can certainly see the cost/value equation this would have for the residents of the 24 now vacant units on Webster.
So get in some good hands, call that Salamander, whoever you care to. Losing your home could be just the start of a bad day.
The Title Company, a necessary evil?
Jan 13th
Maybe this only happens to me, but every once in a while people will get down on the title company, calling them vultures of the real estate industry with their nickel and dime fees, added costs and perceived bureaucracy. I had never called them all those names but they do sell title “Insurance”, which as Ned Flanders the devout Christian on “The Simpson’s” will tell you is a form of gambling. Title Insurance as we know it today replaced the previous practice of a lawyers review of a properties abstract. So let me tell you what I just did. At the advice of several folks in the insurance, tax and real estate industry I am transferring ownership of the two rental properties my wife and own to an LLC. Anton Homes LLC to be exact. The quit claim deed can be used in this circumstance. It allows and individual to transfer whatever right they have, limited or total, whatever they are to another party. As Sandy and I will transfer it to ourselves, we did not need a title search or insurance, just a deed with our signatures, and our signatures.
Simple, Right? Wrong, you forgot about the government and taxes. We will not be taxed on the transfer as we are married but are still required to file a transfer return. This tedious process can only be done on-line and was clearly not designed to be consumer friendly. It was ridiculous. I gave up 2/3rds of the way through and called Jeanie the title lady. It was that poorly designed difficult to work with. So while a title company does have all sorts of fees and costs and perceived layers of bureaucracy, they also specialize in dealing with and creating a buffer between the consumer and other agencies, governmental and/or financial that have even greater costs, fees, and countless layers of bureaucracy.
1.5 volts and 30 degrees
Dec 19th
What costs about 3$ is keeping your home from filling with water? One, maybe 2 AA (double a) batteries.
Most homes these days have a digital thermostat. They can often be programmed to drop the temp when you are sleeping or away. This can mean big savings annually on your heating bill. This technology does however create a risk. Without a double A battery or two you can’t heat your home (there are ways but they mean paper clips and tape MacGyver style).
In the last week I have talked to two homeowners with a low battery. One owner of a just purchased home was left cold, puzzled and concerned. The other, a vacant listing. That vacant listing would have had the opportunity to advertise a lower level swimming pool had it not been found in time.
No batteries means no heat and with temps in the single digits that can mean frozen pipes in days. Sure they won’t leak until they unfreeze but still.
For your own home you may be fine simply replacing the batteries every year or so. If you have a home that is often vacant or you are away for long spells, I would consider a second mechanical back-up thermostat. It could be set at safe but lower temp in case of failure or something as simple as low batteries.
Be prepared and know that the solution to your no heat situation could be as simple as new batteries. Also know that keeping your home safe and dry could be that simple too.
The Zip Strip Drain Cleaner
Nov 22nd
I might have made this up or heard it somewhere. “A hammer tends to address all it’s problems like they are nails.” Sometimes I make the same mistake. I can disassemble a sink’s drain assembly and I have a snake attachment for my power drill so when I have a clogged drain, I get to it. It is usually messy, takes longer than I thought it would but the result, a clean smooth running drain follows shortly after. I am also generally leery of impulse items at the store or things sold on TV. Until now…
I paid 3 bucks or so for a Zip-It clean drain cleaner. It was so easy and cool I am making my experience a part of history with this blog entry. Stuck it in, pulled it out. Done. It was still gross but it was done. After being blown away by the ease of use I Googled it and found that that raunchy web highlights show, Tosh.0 had recently featured home videos of people cleaning their drains. So I’m no early adopter but I don’t care, neither does Sandy who can now shower without wading in water up to her ankles.
http://zipitclean.com/
The Neighborhood Networker
Sep 26th
I shy away from networking events. They seem fake and forced. The ability to show up, drink average beer, and pass out cards is not an indicator of excellence in any industry I am familiar with. That being said I love making connections. If you know me well you have probably heard me say “I know a guy.” When Isthmus reporter David Medaris asked around his office about where to start an article about neighborhood handy-people, someone said, “I know a guy.”. That guy was me. Have a read of this Isthmus Abode feature story.
thedailypage.com/isthmus/article.php?article=30560
Unlike my last few brushes with media fame, David did ask and include in the piece what I do for a living. Good job David.
The Coop Scoop
Aug 2nd
You may or may not know that I keep some chickens in the yard so if that is a pre-requisite for your next real estate agent, we’re all set. If it is merely and added benefit that your agent can advise you on coop design and the suitability of your yard for poultry raising then that is okay too.
Recently our coop was featured in the Madison Magazine. The print version featured a photo of my lovely girls (Lola and Evelyn) so the on-line version is far less attractive but here it is.
Tile or Vinyl
Jun 25th
A recent email with a pretty common dilemma.
Ben- I was given your name from a friend, Bridget N.. I was wondering if you could answer a question for me? We are putting our house on the market in 1-2 years. This summer we are going to update our bathroom. Our biggest question right now is…..ceramic tile or linoleum? I know that ceramic tile is an upgrade, but is it going to make that much of a difference in the resale value of our house if we go ceramic tile vs. linoleum? Our house is under 1,100 square feet, definitely a starter home. Someone else also pointed out that our kitchen is currently linoleum so maybe we do want to stick with linoleum? I know there is no reason for you to be giving me advice, but would greatly appreciate it. Thank you so much for taking time out of your busy schedule!
Kristine
My Reply: Kristine,
That’s a tough one. Installing ceramic in lieu of vinyl will not add
a specific dollar amount to the value of your home. That being said,
it will and can make an impression. If a buyer sees 3 homes and 2
have vinyl and one had ceramic, it is possible that the ceramic along
with other features could elevate your home and give the perception of
quality finishes and fixtures.
That being said, a fresh new, well maintained home also adds an
intangible value. in 1-2 years one would hope that both tile and
vinyl will look fresh and newer. 4-5 years and the ceramic will win
assuming that caulk and grout are kept clean. ( I looked up where you
live) Your home is of a certain age that new tile could help
modernize more than vinyl and approaching 200k in value ceramic is as
much an upgrade as it is expected.
If the bathroom is not off the kitchen, then I would not worry about
not matching finishes. I should add this thought too. I tend to do
most of my own tile work so I always go tile.
I hope that helps. If the market is as tight in 1-2 years as it is
today you will want every bit of leverage you can get. When there are
more houses than buyers it becomes a beauty contest.
I hope that helps. I sell homes as well as pontificate on them, so
feel free to drop a line come those 1-2 years.
Ben
What would you have said?
