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Most Ridiculous Item of the Day


hausdok
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According to a posting on MPI News, this fall, HGTV will debut a new show entitled The Great Home Give Away, in which three couples compete in each episode to win a house by guessing its value. The winning couple is the one that comes closest to the price.

How are they going to accomplish this amazing feat? The couples will go through the house with a home inspector and attempt to identify issues that will affect the value of the house.

Are shows like this liable to be good or bad for the home inspection profession? Let's hear your comments below.

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It's a trick question.

What a homes "worth" and what it's priced at are generally two different things.

Just look at the 900 sf homes out on the West coast that sell for 700k to over a million bucks. Those homes are not "worth" that, but people will give that kind of money for them. They're paying for the dirt the home is setting on.

Who chooses the inspector? The show or the contestants?

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What Les said. How does one accurately determine the cost (or price) of a house? I see houses all over the map, all completely different, all @ the same price point.

If it was a builder working to a formula, maybe; after that, it's all about emotion, location, school systems, crime, neighbors, etc.

It might benefit the profession to see someone competent thinking things through w/the buyer; I hope they choose HI's that have brains.

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  • 3 weeks later...

In addition to an ethical inspector the buyer may need an ethical apraiser.

The real cost of the property is the selling price plus any repairs or modifications plus taxes and other housing related expenses. Add all these up and you better a much clearer picture of the transition.

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Hi Guys,

I think your all getting side-tracked. The premise of the show is that these folks hook up with an inspector, go through the house and then, using the list of stuff identified by the inspector - and I assume his swagged cost figures - determine what the house should cost. People watching this are liable to get the idea that we can, or should, help them determine what the fair selling price of a house is.

Although we all know they all do it, it's long been a tenet of this business that our mission is to identify deficiencies - not help buyers figure out what they should be offering for a house.

Maybe I just have a skewed impression - especially since I've not seen the program yet - but I think the whole concept is ultra-whacked.

OT - OF!!!

M.

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I see a plus, if they use competent inspectors, and not just code compliance inspectors like I have in my area. I also see negatives-possibly making us look like appraisers, contractors or handymen by quoting prices. Hopefully, their inspectors will do just that, an honest evluation of the home, then leave it to the other professionals to come up with the prices.

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"Although we all know they all do it, it's long been a tenet of this business that our mission is to identify deficiencies - not help buyers figure out what they should be offering for a house."

Right, There are too many variables and liabilities involved.

I do not give repair costs to clients since I'm not in the repair business. Previously I have formally funneled such questions to published resources and software for estimation. Some of these resources are free to clients. I don't know who often the clients follow through to get firm bid estimates from 3 or more reputable contractors that are available within the tiny option period. I’m guessing that they get the numbers from real estate agents. I have asked a few agents about it but they are tight lipped. How much research is actually involved?

How about a survey to see how many inspectors give estimates for repairs?

I haven't seen the show so I can't comment except in generalities. TV is vast wasteland of commercials and crass entertainment where education and the presentation of knowledge are often missing except in the most superficial manner.

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