Should You Cut All Trees Around Your Property? – Miriam Olsen
On this episode of The Closing Table, we sat down with Miriam Olsen!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Miriam Olsen…
The conversation began with Miriam extending her life far beyond her role in real estate. She was born and raised in Greater Lansing, Michigan, and has been happily married since 1987. Together, she and her husband have two adult children – a 33-year-old son and a 27-year-old daughter. While the family is central to her life, Miriam, as of now, does not have any grandchildren.
As a real estate professional, Miriam’s journey began in March of 2014, following a successful period of self-employment that spanned from 1990. Her specialization lies in residential real estate, with no involvement in the commercial sector. Currently, she is licensed in both Michigan and Florida, focusing on 55 and over communities. She and her husband even own a home in The Villages, Florida, where she primarily operates. To efficiently manage her real estate business in Michigan, she has formed a partnership with an exceptional agent to handle transactions in her absence.
In terms of her current market, Miriam navigates the greater Lansing area in Michigan. This region includes noteworthy areas like Old Town and Rio Town, known for their vibrant events such as jazz and music festivals. Additionally, being the capital of Michigan, Lansing boasts a thriving downtown scene. Meanwhile, in Florida, Miriam’s expertise is centered on The Villages, situated approximately an hour northwest of Orlando. The Villages is a unique retirement community, the largest of its kind, and welcomes residents aged 55 and above. Surprisingly, only one person in a household needs to meet the age requirement, and 80% of the community must have this qualification. This diversity in age groups creates a dynamic atmosphere, including educational facilities within the community. Living within The Villages is a prerequisite for working there, and the community offers four vibrant town squares with free nightly entertainment until 9 pm. The place is known for its numerous golf courses, restaurants, and shops, making it a truly remarkable destination.
Miriam has encountered her fair share of setbacks in the real estate field. One memorable incident involved a corporate relocation client in search of a unique property. After showing them around a staggering 50 houses, they unexpectedly fell in love with a major fixer-upper. This distressed property had been vacant for a considerable time, with severe damage caused by a storm that tore off the roof’s shingles. The resulting rainwater intrusion had warped the wood flooring to the extent that Miriam humorously referred to it as a “speed bump.” Complicating matters, the relocation company had a stringent lender who refused to finance such a challenging project, and they did not offer rehab loans.
To overcome this impasse, the seller agreed to provide temporary seller financing, allowing the transaction to proceed. Remarkably, Miriam closed on the property twice within a single month. The first closure involved a land contract with the seller, followed by the necessary repairs, and a subsequent closure with the relocation lender. Although this experience was a daunting one, particularly for someone relatively new to the industry, Miriam received invaluable guidance from a seasoned listing agent. She learned the importance of expecting the unexpected with certain clients and adapting to challenging situations. Furthermore, navigating the repairs, appraisals, and approvals with the relocation lender provided her with a unique learning experience.
In the realm of assisting clients in evaluating properties with specific features like an in-ground pool or a house on a lake, Miriam recognized the seasonal constraints in Michigan. She often advised clients about the limited usability of such amenities due to the shorter seasons for pool and lake enjoyment. Properties with lakeside locations were inherently more expensive and attractive, but they also came with higher property values and property taxes, which could deter some buyers. Similar considerations arose with in-ground pools, as maintenance could be a significant concern. Home inspectors typically do not assess pools, so the need to hire a specialist in pool maintenance became a necessity. Offering additional protection, a home warranty was an option for properties purchased during the off-season, including an extended plan for the pool in case issues emerged upon opening it.
In Florida, where the climate allows for year-round pool use, homes with pools were often higher-end properties. However, not all homes had the space for a pool, prompting buyers to carefully evaluate whether they wanted to invest in one and ensure the property could accommodate it. Miriam’s guidance in these situations helped clients make informed decisions about properties with these unique features.
In her real estate career, Miriam has encountered and effectively resolved a range of conflicts among buyers and sellers during property transactions. One particularly challenging situation involved her buyer’s attempt to purchase a property listed as “for sale by owner.” The process initially went smoothly, with both parties entering into a contract, agreeing on terms, and completing all the necessary steps, including inspections and appraisals. They even scheduled the closing. However, a significant issue arose when the seller expressed a belief that they were entitled to a larger sum of money than what was on the table. At this crucial juncture, the seller hesitated to sign the closing paperwork, which threw Miriam’s buyer into a state of panic. Their moving truck filled with furniture was parked in the lot, ready for action as soon as the closing was complete.
Miriam found herself in a mediation role, emphasizing to the seller that refusing to sign could potentially lead to legal repercussions, as they were bound by a contractual agreement. The seller insisted that the net sheet displayed a different financial outcome, but Miriam, with the relevant documentation in hand, was able to demonstrate that the seller would, in fact, receive more money on the closing day than the net sheet indicated. After an intense half-hour discussion, the seller eventually agreed to sign, allowing the transaction to proceed. Through her skillful mediation, Miriam successfully navigated a challenging situation while maintaining positive relationships between the parties involved.
In another scenario, Miriam faced the complexity of evaluating multiple offers for one of her listings. This particular property was in high demand, receiving a total of 13 offers. Interestingly, the highest offer included an escalation clause with no specified cap, signifying the buyer’s willingness to outbid competitors. However, there was a crucial caveat: the highest bidder was seeking financing, introducing the possibility of an appraisal gap.
Miriam’s guidance in this instance extended beyond considering the dollar amount alone. She had to analyze whether the property’s potential appraisal value could meet the escalated amount. Furthermore, the highest offer did not come with an appraisal gap guarantee, which raised potential risks for her seller. In the end, the sellers chose a slightly lower offer, but one that came with a robust appraisal gap guarantee, providing financial security and ultimately ensuring a smooth transaction. Miriam’s guidance highlighted the importance of considering contract terms beyond just the offered price, leading to a successful and advantageous outcome for her clients.
The perception of trees on a property can encompass both positive and negative aspects, as they offer fresh air and a peaceful environment, while also posing potential challenges like property damage. Miriam has played a pivotal role in helping clients reconsider their views on trees when considering a property. For instance, she recently facilitated the sale of a house located in a heavily wooded area. While the natural beauty of such surroundings is appealing, it’s essential to consider the practical implications. The presence of numerous trees means that there will be leaves to rake in the fall, adding to the maintenance requirements.
Moreover, if trees are positioned too close to the house, with branches hanging over the roof, there can be detrimental consequences. Excessive shade from the trees can lead to issues like moss and algae growth on the roof, potentially incurring significant repair costs. In urban areas, where properties have sewer lines extending to the road, trees planted between the house and the road can cause problems. The roots of these trees may infiltrate the sewer lines, necessitating sewer scope inspections and specialist assessments.
The conversation wraps up with Miriam reflecting on her career experiences. She recognizes that the real estate market, especially in the aftermath of the COVID-19 pandemic, has become particularly challenging. The fast-paced and unpredictable nature of the market has been exhausting for both her and her husband, who works as a home inspector. As a result, they have adjusted their goals and aspirations. They decided to purchase a home in Florida, allowing them to divide their time between two locations. This arrangement enables Miriam to continue working in both places, taking advantage of the flexibility that real estate entrepreneurship can offer. While she has always had a deep love for real estate and her clients, she also appreciates the importance of finding a balance and taking time for herself, allowing for a more manageable and sustainable approach to her real estate career
Check out Miriam Olsen:
Facebook Business Page: https://www.facebook.com/lansingagent
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