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All Forum Posts by: Bill Patterson

Bill Patterson has started 5 posts and replied 427 times.

Post: Paint with Kilz only?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

If you just want durability and not stain blockage, I'd use a no or low VOC flat ceramic paint. The price of these have come down a lot in the past couple of years and the ceramic paint is very washable and most have mildew protection for using in kitchens and baths. It is great using flat ceramic in those areas, since satin or semi gloss shows imperfections so much. As a "Green" builder, VOCs and indoor air quality are important to me! Also, using a primer or paint with PVA will stop warm moist air from passing through the paint and drywall only to condense on the cold side of the wall and cause a potential area for mold growth.
Bill

Post: Are Realtors Worth The Commission Anymore?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315
Originally posted by Bryan Hancock:
Originally posted by Bill Patterson:
2. The funds for the commission comes from the buyer. They provide the cash for the deal and as has been pointed out, the buyer can pay his agent whatever is in their contract, even when buying a discount listed property.
This is a specious argument and I have never understood how people buy it. The funds for BOTH sides of the transaction come out of the seller's equity, which necessarily affects the pricing for the transaction. Absent this commission the house would sell for less in a frictionless market and the buyer would save the difference on the purchase.


Hey Bryan...think about it a minute. Equity is just paper at best and maybe a dream at worst until a buyer comes along and changes it to cash (or note, or another property, etc.)! Back in the old days when I first started doing buyer brokering (as we used to call it), the buyer did pay per contract with his agent and we would negotiate the listing commission down to compensate for it. This was before all of the agency disclosure that makes things a lot simpler now. I still think that the bottom line is that the buyer supplies the cash for all of the commissions, other costs of sale, as well as turning the seller's paper equity into a true asset.
Bill

Post: Are Realtors Worth The Commission Anymore?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

Please let me interject a few thoughts.....

1. I believe that the majority of buyers preview the internet and other media before directing their buyer's agent to which ones they would like to see. Even the term "buyers agent" suggests other aspects beyond identifying a property. This may counteract “boycotting†by agents.

2. The funds for the commission comes from the buyer. They provide the cash for the deal and as has been pointed out, the buyer can pay his agent whatever is in their contract, even when buying a discount listed property.

3. Many buyers are comfortable working with an agent that they feel represents their best interests (if it happens, is sometimes debatable).

4. It wasn’t that long ago that MLS books were used to market and provide comps for properties. Then agents were more likely to be able to locate properties for buyers. Isn’t the internet great?

5. Both sides of this issue are presenting some good arguments!

Bill

Post: crack

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

Looks like you need some cement board and new tiles. Maybe just some accent tiles for the first 2 or 3 rows or you may find the whole tile wall water damaged and it may be best to re-tile the whole thing. This is minor compared to your cracked basement wall, though. Good luck!
Bill

I have been watching for the past month or so, and I am seeing more postings by people that have been members for quite a while, but have relatively few posts and influence points. This thread must have worked! It is great to see new faces and new perspectives & input. Please keep it going!
Bill

Post: How-to refinish a tub? How Much?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315
Originally posted by Bryan Alenky:
good point marc...i was gonna mention you can get a cheap diverter or a 3 handled system...different ways to go with much different prices



Most codes will require a pressure balanced T&S valve for safety reasons, so when replacing a tub and faucet, an old style 2 or 3 handle will not meet code. I think that the $75 price for a pressure balanced T&S valve is probably a good estimate. I've never re-glazed a tub and would be more likely to replace the tub, surround and misc. hardware. I do see both sides of the issue and think that there are good arguments to go both ways that address, time, cost and quality issues. The time, cost and quality issues will vary in importance from instance to instance, so I would not rule out going either way!
Bill

Post: Are Realtors Worth The Commission Anymore?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

'Are Realtors Worth The Commission Anymore?'

Are plumbers worth what they charge?
Are accountants worth what they charge?
Are attorneys worth what they charge?
Doctors?

When I break it down to simple terms......If you have the skills to provide the same level and quality of service and do not have anything better to do with your time that would be of more benefit to you or make more money for you, than No They Are Not! At least not to you!

If you can spend your time doing your business related projects that can make more money for your time spent or if you don't have the skills or desire to perform their functions,
Yes They Are Worth Their Costs! At least to me!

Of course there are exceptions. If you are sitting in prison with lots of time and a law library, you may want to consider an attorney to represent your appeal after representing yourself at your first trial didn't work out so well!

Bill

Post: Do you'll get weird comments like these on your blogs?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

Thanks! You learn all sorts of things on BP, which I thought was a real estate site.

Post: Do you'll get weird comments like these on your blogs?

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

Thanks for the info! Since I am a little bit slow in the ins and outs of social media, I probably would have been used while just thinking that someone that was uneducated was impressed by my blog! What is a spider?
Bill

Post: Leaking hot water heater - help

Bill PattersonPosted
  • Real Estate Investor
  • Portage, MI
  • Posts 470
  • Votes 315

The discharge from the relief valve must be discharged within 3 inches of the floor and also have an air gap so that you can detect a slow leak which could make the relief valve not work properly in a high temp or pressure situation. This is a real safety issue that any inspector worth 2 cents should have caught! It is in all nationally recognized plumbing codes as well as all water heater installation requirements. I would add them to all of the water heaters in your building.
Bill