You Can’t Take it with You!

April 23, 2012 | Julie Hall

Joanne was in her mid-seventies, and her daughter knew mom just couldn’t take care of a house over 4,000 square feet on over an acre of land. Joanne had to have a home that large to house all of her possessions. She needed to downsize and move to Assisted Living, but she was giving her daughter a very difficult time about the move.

The daughter made an appointment for me to come over and educate them in the estate sale process. Her exact words: “Mom’s got 4,000 square feet full of stuff, junk and everything else, and it’s time to sell it all so she can fit into her new place.” To complicate the matter, the house had already sold!

Throughout the conversation at Joanne’s house, I had a familiar feeling that I had to share. I addressed the daughter who had asked me to come: “I would be happy to assist you in selling the remainder of this estate, but I have a funny feeling mom will not part with anything.”

Joanne looked over at me and gave me a “cat ate the canary” grin; I knew she was up to something. The daughter insisted that all of the possessions had to go. Still, I persisted as gracefully as I knew how. “I think your mom might have other plans for it, don’t you, Joanne?” Again, I received the same grin, but she sat silent, as if this was punishing her daughter for trying to make the right decision.

The daughter became increasingly disturbed, and I was caught in the middle. “Mom, what is going on?” Still, no reply from her mother. Once more, I put on my gentle voice and stuck my neck out. “I’d be willing to guess mom has other plans for her possessions. Something like storage.” Mom’s face was simply beaming. I had hit the nail on the head!

The daughter’s face grew dark like an impending storm, and demanded to know what nonsense mom was up to. Finally, it came out. “Julie’s right. I’ve already reserved four extra large storage units. I’m not giving it away, or selling it. It’s mine. No one can have it but me!”

The lady who wouldn’t let go ended up moving and placing everything in storage, to the tune of over $7,000 per year.

Moral: You can’t take it with you, no matter how hard you try!

The Odyssey of Junk

April 2, 2012 | Julie Hall

Has your junk been more places than you?

It doesn’t matter how long I’ve been in the estate business, I still wonder why we hold on to so much “junk” and why we have such difficulty letting go of it. Oh sure, we may have it in neat piles, boxed in a spare room, crammed in closets, or out of sight, but make no bones about it — it is THERE, lurking in the darkness of our drawers, attics, and closets faithfully reproducing while we go about our busy lives. How on earth do we amass so much?

I have a theory. Somewhere back in our long-ago DNA when ancestors were primitive, I think we developed a “switch” in our brains that told us to gather and collect. Humans were, after all, hunters and gatherers, and I believe we still are on some level. Back then, we had to collect wood for fire, food to eat, etc. Our survival depended on it. If you didn’t collect these items, you and your family would perish.

Today, we do it on a grand, 21st century scale. We buy, buy, buy, and don’t really understand why. We have far more than we need and far more than we will ever use. Did you know we actually use only 20% of what we own? Think about it — we wear the same, favorite clothes, shoes, use the same kitchen items, toiletries, etc. So what happens to the other 80%? It sits there, not being put to use, often until a loved one dies and then it has to be dealt with. By then, it is too late and much of it is usually discarded.

We not only hold on to, but also keep moving stuff from one home to another: our college stuff, our kids’ stuff, even stuff for grandkids who aren’t walking yet, but we think they may want these items one day.

When we are in estates cleaning them out, or if clients ask us to clean out their attics, we find boxes with original moving company stickers from the 60s and 70s, and those boxes are STILL taped shut. No one ever opened them after the move 40+ years ago. The message that sends to me is these items weren’t important enough for me to open this box, so why do we still have them?

Our elders, God bless them, saved everything including broken appliances and parts (because you might need them one day), tons of catalogs and magazines (because those old National Geographics might be worth something). The entire kitchen is cluttered with mayonnaise jars, Cool Whip containers, pie tins, etc. The truth is, they are never used, because we find decades of dust on them.

Sometimes families move the entire household of a deceased relative to another state, only to clutter up their own homes. This cycle is long, tiresome, and laborious, and the pattern needs to be stopped, or at least interrupted, so we can analyze why we do these things. No wonder we’re all so tired, buying stuff, finding places for it, and then at some point, being forced to deal with it. It will eventually become the proverbial monkey on our backs or our children’s backs.

Logic would dictate that we need to be free of it, in order to make our lives simple again. It’s APRIL and the perfect time for SPRING CLEANING. I’ll deal with my piles if you deal with yours!

Clean Out an Estate and Care for the Environment

March 26, 2012 | Julie Hall

Q: While I’m cleaning out an estate, how can I also “go green” for the environment?

A: Thank you for this excellent question.

Donating, recycling, and selling are less expensive than a dumpster and may provide cash for your unwanted items. They may also provide a tax deduction or help out a worthy cause. Use your imagination when deciding where things could go, other than black trash bags! Can someone use your items in some form or fashion? This is the ultimate in recycling.

Remember the following when cleaning out estates:

Have the neighbors in for free household chemicals, garden/yard tools, etc.
Create a donation network by discussing what you have to give.
Keep watch for charity drives in your community.
Web search for places to sell or donate items.
Gazelle.com, venjuvo.com, techforward.com and myboneyard.com all offer varying amounts of compensation for electronics.
Mygreenelectronics.com tells you where to find nearby recycling centers for electronics.
Paper, cardboard, and scrap metal are commodities that are traded. Find a buyer in your local phone book.
Scrap metal and other household metals, photo frames, etc. are wanted by artists, or can be sold for scrap.
Charities are in a funding crisis; paper, books, games and toys help daycares, senior centers and after-school programs. Give them a call; they are happy to give you a wish list.
Alzheimer’s facilities are always looking for clean linens, towels, etc.
Many religious organizations/groups set up homes for refugees, domestic abuse victims, pregnant women, disabled adults, etc. They need many everyday items that you need to dispose.
Inventory the home before buying materials. Garbage bags, boxes, and cleaning supplies are normally already in the house.
Worn sheets and towels, leashes and pet bowls are very much needed by local pet shelters.
Remember, one man’s trash is another man’s treasure!

Do your part to help!

What I’ve Learned as an Expert in “Things”

October 31, 2011 | Julie Hall

As an expert in personal property, my days are filled with visiting estates, consulting with my clients, and ascertaining what has value versus what does not. I help boomer children make sound decisions after mom and dad have passed on, and work closely with seniors, helping them make a plan for their heirlooms and understanding their worth.

My world revolves around many beautiful things, what they may be worth, and then sadly watch people fight over them after a loved one dies. Having met thousands of individuals in my career, I can safely say I have learned from each and every one of them. Here’s what I have learned:

1. We exit this world the way we enter it — owning nothing but a beautiful spirit that houses love and memories earned over a lifetime. You can’t take anything with you, so why fight over “things?”

2. “Things do bring instant gratification, but not long-lasting happiness. So we keep buying more things to keep feeling good. Too many of us fill our lives with “things” to ease unresolved pain and issues. As we continue to go into debt and buy ourselves the latest electronic gadget, we are still left unfulfilled and discontented. We buy to feel good, we buy because we deserve it, we buy because we are depressed. But in the long run, it ends up in the hands of family, or a professional such as myself, to sell it.

Next week, I’ll share two more valuable lessons I’ve learned as an expert in “things.” I hope these lessons today, and the two next week, will alter your plans to gain more and give more “things” during the upcoming holiday season. Please come back for the other two positive lessons!

“Julie, Are You Sitting Down?”

October 24, 2011 | Julie Hall

Every now and again, a story so bizarre comes along, you just know you’ll never forget it.

I knew I was in trouble when the voice on the other end of the phone began with, “Julie, are you sitting down? We need to know if you are up for this one.” There was a large 1920’s home in a well-known and desirable area that was “full of junk.” Certainly in all these years of doing this line of work, I was accustomed to what people describe over the phone and have seen my share of junk in the world. Very little within a home could ever scare The Estate Lady. I was given the key to go over to the home to assess it myself, but was told to consider myself warned.

The key worked, but the door didn’t. Strong as I am physically, there was something barricading the front door … and the back door, and the side door. My assistant and I peeked in the windows and could clearly see the most unbelievable sight. Debris was everywhere and anywhere you looked. The beautiful trees had punched holes through the glass windows and vines grew in the interior of the house. The floor could not be seen and neither could the furniture. The bathrooms were inoperable, so I will go no further on that issue. In all my years, I had never seen one like this. This, I thought, would take a miracle. Not one to shy away from challenges, we decided we were up for it.

Once we gained entrance to the interior of the house through a window, it didn’t take us long to realize the resident had not opened his mail in years. Decades, actually, since 1964 to be exact. The paper and other debris was up to our knees on the first floor and up to our chest on the second floor. The attic too was full, as well as the basement. It is still among the most fascinating cases I had ever seen for hoarding.

The job itself took 9 days to complete, but several dumpsters later, we sifted through 3 massive commercial dumpsters full of mail that had not been opened since I was a baby. In that mail, we found considerable amounts of money the family never knew he had: overseas accounts, etc. Financial documents were found that were needed and other personal items were also discovered, long forgotten by family members that had given up on this hopeless situation.

Oddly enough, we also found 9 loaded guns under the debris which we were stepping on all week, several deceased animals, a multitude of unmentionables that I will have to take to my grave, and a duct-taped freezer down in the basement which was reminiscent of the basement in “Silence of the Lambs,” complete with a swinging single light bulb and dirt floor. And yes, our imaginations went wild. But the good news is that within 6 days of our completed work and an empty house, it sold for a healthy selling price. All’s well that ends well — despite the circumstances.

It made me come home and donate and throw out as much as I could get my hands on!

Condition, Condition, Condition

October 10, 2011 | Julie Hall

When it comes to the worth of heirlooms, there is one characteristic of value that I want everyone to understand: Original Condition.

We all know what the word original means: initial, first, earliest, the real thing. It means the condition of an item that has been left intact, that way the artist or creator intended it to be. No stripping, refinishing, repairs, paint, drilled holes, polishing and lacquering, etc. To a collector wanting to buy a fine item, original shows that the piece is true to the period and proves its’ age by leaving it alone over the course of time.

But everyone out there seems to believe that if mother’s tables are antique, they are definitely valuable. This is NOT the case; please forward this to anyone who is of this mindset. There are many characteristics of value, and age is only one of them. Condition is at the top of the list. Here is where it gets cloudy …

I’m called to an estate to see lovely antiques, but they are in less than stellar condition. They are covered in years of nicotine or mold/mildew, or have been exposed to years of humidity or heat. All the owner understands is that these items are old and should put considerable cash in their pocket.

What an appraiser sees is that they were not taken care of for whatever reason. The original condition has been altered and getting it back to a “sellable” condition will take a small miracle, not to mention more money than the piece is actually worth. They can still be sold and a fixer-upper buyer will want them, but at a fraction of the price people have in their heads. Then people get upset because their pieces are not selling well, or feel jilted because what they “perceived” they would sell for didn’t transpire. I know … it’s a lot to take in!

Even antiques or semi-antiques in fine condition are not necessarily valuable. Times are changing. The economy has changed the market drastically. The statistics of how many boomers and elderly we have in this country is mind-blowing. So if you are considering selling your heirlooms, look at them like an appraiser and consider all flaws before setting expectations sky-high.

Live So You Make a Difference in Others’ Lives

August 29, 2011 | Julie Hall

Cleaning out estates never gets dull — I just never know what I will uncover next or what heartwarming lesson I will learn. Sometimes I am covered head to toe in grime and sweat, and other days it’s a tiptoe through a pristine mansion. But no matter what our residence may look like, at the heart of the home lies the very essence of who we are. Our possessions reveal a great deal about us as individuals.

Today, we completed the clean-out of an elderly nurse who served her entire life. She didn’t just serve in the hospital; she served her community by becoming “Miss Sue” in the neighborhood. She had been in the same home 60+ years. No matter what the community needed, she was there. Someone needed first aid in a hurry; people took them to Miss Sue. A young girl found herself in trouble; you go to Miss Sue. As six decades passed, Miss Sue saw her neighborhood change. There were juvenile delinquents, drugs in the area, other crime, etc., but everyone still went to Miss Sue for whatever they needed, and she was always happy to help.

As the last little bit of furniture was removed from Miss Sue’s home today, we were approached by numerous neighbors from all walks of life. They surely loved Miss Sue and missed her terribly. As I drove away, sweaty and tired from the hard day’s work, I thought to myself what a wonderful life Miss Sue lived. She served so many during her lifetime and really made a difference!

Why can’t I determine value on the internet?

July 25, 2011 | Julie Hall

Q: You make it sound complicated to establish value of my heirlooms. Why can’t I just look at the internet and find the value myself? Surely there’s plenty of stuff for sale on Ebay that I can find a similar item and see what they are asking for that item.

A: The arrival of the 21st century has enabled us to find 90% of what we are searching for on the internet. What a great tool — but with greatness also comes weakness. What a double-edged sword. If used correctly, you can find the answers. If used incorrectly, it can truly mislead you, or cause permanent damage to one’s reputation.

I read numerous articles, newsletters, and blogs; I see so many wanting to research what their possessions are worth.

There are multiple factors involved in assigning a value to a particular item, not limited to the following: marketability, condition, collectability, age, rarity, provenance, materials used, handmade vs. factory made, etc. Age alone is not the only important characteristic, for all that is old is not necessarily valuable. Original condition is a very important factor, as is rarity.

One problem is everyone seems to believe they have something hard-to-find or rare, based on family stories told over years. Families are often disappointed to learn that the old bench great-grandfather made in 1857 is just an old bench and has more sentimental value than monetary value.

People have a tendency to jump onto Ebay, which is not always a good thing. While Ebay is a huge site with a broad variety of items, the market is currently down and often cyclical. There are better times of year than others to sell on Ebay. It’s also important to compare apples with other apples, and not an item that just looks like grandma’s old figurine. You must first have an accurate description of the item, then you can begin your search.

Remember too, the cardinal rule: If you go searching on the internet, make sure you accurately find the price the item sold for, and not just the asking price. Many times people say, “Julie, you only appraised this item for $200 and I see it on the internet for $675. Why is your appraisal so different?” My research in comparables accurately depicts what it sold for. Anyone can ask any price they wish. Go on Ebay and you will see some pretty ridiculous asking prices! But note, the items have not sold for these prices.

It is important to also remember to search multiple search engines, as well as different values: not just Ebay, but online auctions, in-person auctions, estate sales, etc. Find the fairest comparables you can. Keep in mind that professional appraisers have extensive training and knowledge in research, writing, and databases, which the average person does not have. When in doubt, please hire a professional appraiser to offer you the knowledge you need to make good, sound decisions about your personal property.

What is Value?

July 11, 2011 | Julie Hall

Let’s start by addressing what it is not. Value is not a price you see on the internet or in a store. That is only a numerical figure someone conjured up, very often based on their personal sentiment towards the item, or a price they once saw in a book. The economy pretty much tossed that out the window. It’s not the story the family handed down for generations that a particular piece is “very valuable.” Maybe it is, but most likely, it’s not. Sure it’s old, but that alone doesn’t guarantee value. It may just be old.

Value is a very personal thing. People want to believe what they have (or what grandma has) is valuable. Price is determined by supply and demand, as well as the collector market. As I have often said, there must be a demand for what you have. You might have an antique china set from grandma — so does everyone else. The supply is bountiful, but the demand simply isn’t there and this means the price is not going to meet your expectations, regardless of what they paid for it. Those days are long gone.

If you have something rare (and most people think they do), you will need a professional personal property appraiser to confirm that, and also recommend where it should be sold. For the record, “rare” means extraordinary, like a flawless diamond, and most of us do not have that. What we have, and what we inherited, is a lot of stuff that is good and useable, but not necessarily valuable.

When in doubt, bring in someone like myself so that you can move forward and make good, solid decisions for your personal property. Set your expectations accordingly so you will not be disappointed, and may, in fact, be pleasantly surprised.

From Clutter to Cash, Part 3

June 13, 2011 | Julie Hall

Here are the final 4 options for turning the clutter stored in your home and garage into cash. Please pay special attention to Option #7 before you get rid of anything that might have value.

6. Do-It-Yourself – You can try Ebay, Craigslist, local advertising in your newspaper. These are time-consuming and often frustrating if you don’t know the proper way to describe the items, people never show up at the appointed times, money can be wasted in fees (especially Ebay’s, which are not cheap, but at times are worth it). For antiques, collectibles, jewelry, vehicles, larger collections: If you are determined to save the percentage you would ordinarily pay a professional, that’s ok. But keep in mind that professionals have the knowledge and skills to sell these items for the highest amount they can. If you are paying them a commission, they want it to sell for as much as possible too.

7. BEFORE you sell or give away anything you perceive has value, make sure a professional appraiser takes a look at it. A professional who is paid for an opinion of value and not one that will offer to buy it, which to many is a conflict of interest, but you be the best judge. I have uncovered items worth tens of thousands of dollars that were slated for donation. The fee my client paid me was well worth having me come over, because my experience and skills uncovered what they thought was give-away junk. For example, they were very happy when I discovered in their basement a vase that was sold for $57,500.

8. To sell or donate? – Should it just be donated, or can I try to sell it first? If it doesn’t sell, I’ll pack it up for donation. Whichever you prefer. If it is banged up and in horrible condition, recycle it or throw it away. If you would feel better giving your items to those less fortunate – there are many who are these days – please find a worthwhile charity or organization. By all means, give, give, give. You will receive a donation receipt you can use for this year’s taxes.

9. Scrap it – If it’s metal and you don’t want it, or it’s broken or bent, don’t throw it away; scrap it! Find out the location of your local scrap yard and haul it there to get cash. It is not unusual for a truck load to be $100-$150 depending on the type of metals you have. They are looking for insulated copper wire, copper tubing, auto radiators, air conditioning coils, brass, aluminum, bronze, cast iron, stainless steel, and other high temperature alloys.

Please leave a comment at the end of this article and let me know how this has helped you. What have you cleared out and how did you turn it into cash?