Real Estate: Landlord insists on showing my apartment while I still live in it during recent events |
- Landlord insists on showing my apartment while I still live in it during recent events
- Is buying a mistake right now?
- If my tenant stops paying rent because they can't work and I can't pay my mortgage because I am not collecting rent what happens
- LA Specific - Thoughts on current market? LA prices expected to remain stable?
- Case-Shiller Housing Price Index since 1975, 6 recessions since then
- Did I make the right decision backing out of rental due to corona?
- Realtors, what did your foot traffic and open houses look like this past weekend?
- Selling a House in DFW During COVID-19
- Real Estate ETFs hit 5 year low
- Buying a home with a deck not up to code and possibly unpermitted (FL)
- Backing out of Home Purchase
- Needing advice on foundation damp spots
- A (stupid) question lol
- Is the end of this year a bad time to buy?
- Thoughts on where mortgage rates are going?
- Upgrade options to pick on new construction
- Calling all underwriters? Help!
- Just bought my first home, scared that I may have purchased right before a recession
- Seller lives in Florida, property is located in NYC
- Township offices closing
- Australia-buying 1st home/and government guarantor %15 deposit AUS
- Federal Reserve cuts rates to zero to support economy
- Should I still close on my house tomorrow with the feds lowering interest rate?
- How do I get into real estate investments?
| Landlord insists on showing my apartment while I still live in it during recent events Posted: 16 Mar 2020 05:23 AM PDT QUICK NOTE: I'm moving out of this apartment on Saturday the 21st I've dealt with apartment showings for the past two months, but I get it. The landlord and property management company want to fill this place immediately and it shows. However, this past weekend they scheduled 3 groups of people to tour my apartment at the same time while I was home and the person to give them a tour never showed up. I had people walking into my apartment like they lived here. They have now scheduled more showings for this week and obviously I don't feel comfortable with that since I'm trying to keep my distance from people in case I'm a carrier of the virus (recently got back from Chicago O'Hare and still within the 14 day period, in day 10 now). Is there a way to prevent them from showing my apartment amidst this craziness? [link] [comments] |
| Is buying a mistake right now? Posted: 16 Mar 2020 07:22 AM PDT Right now, I'm in the middle of a home purchase. It's still the inspection/DD period, and the price negotiated ended up at nearly $30k under asking, and that's before the coronavirus stuff starting getting real. This morning I saw an article speculating that this virus may soon cause another housing market crash. I am terrified both of closing this deal, and of backing out. I want this house, not only is it everything I've ever wanted in a home, but I'm also terrified of what renting means in a worst-case scenario. I'm just afraid of getting into the home, seeing a major crash, and then having the home's value never recover, or losing employment and not being able to afford it. I know news stories tend to be sensationalist, but I want to know, from a Realtor's perspective, would you buy a house right now? EDIT: So, a lot of comments are citing lower-than-ever interest rates. Are you guys talking about last week? Because I spoke to my bank this morning, and last week I was quoted 3.62. They've gone up. Today the rate is 4.12. I'd been advised not to lock in when it was lower because they might fall again, and locking in was an additional $1k. I am heartbroken, considering calling the whole thing off if it does not drop again before closing. I don't understand the increase. [link] [comments] |
| Posted: 16 Mar 2020 07:54 AM PDT |
| LA Specific - Thoughts on current market? LA prices expected to remain stable? Posted: 16 Mar 2020 09:58 AM PDT Given all the volatility in the market and the lack of short term visibility, I am curious to hear what people's thoughts are in the Los Angeles real estate market. There are so many opinions and predictions across the country but since all markets have their own unique characteristics, i thought it would make sense to break out LA specifically. Would love to see other cities as well. I am currently in the counter phase of a West LA home in the Westchester neighborhood. Home is a well maintained box home and is one of the "cheaper" homes in the neighborhood. My agent says that demand hasn't really fallen off lately and I find that hard to believe. She says everyone is looking to take advantage of the lower rates. What is believable is that sellers are hesitant to list their homes compounding to an already low level of inventory. I am split between buying the home (close to lot value) on a street where developers snatch up properties like this to build homes 2x the price and backing out of the offer to reevaluate the coming months. Side note for reference: We were quoted a 3.1% rate two weeks ago by a big bank lender two weeks ago. That rate moved up to 3.75 last week and today they informed us that they are no longer originating new loans until later this month. They are a portfolio lender meaning they hold loans on their portfolio rather than selling on the secondary market. Will be interesting to see what the recently announced Fed QE will do to near term rates. TLDR: What are your predictions on the LA real estate market. Will prices increase due to low inventory levels and interest rates? Will homes sit on the market longer but remain stable? Will prices decline as we go into what appears to be a guaranteed recession? [link] [comments] |
| Case-Shiller Housing Price Index since 1975, 6 recessions since then Posted: 16 Mar 2020 08:22 AM PDT https://inflationdata.com/articles/wp-content/uploads/2013/06/Inflation-Adj-Housing-Prices.jpg And unemployment rate for comparison We've had 6 recessions since 1975 and the only one that greatly impacted housing price was the Great Recession (subprime), which was caused by housing. Anyone else think this recession won't impact housing prices as much as some are saying? [link] [comments] |
| Did I make the right decision backing out of rental due to corona? Posted: 16 Mar 2020 10:12 AM PDT I'm based in Florida, and I had payed a deposit a week ago but haven't signed lease. Things have taken a drastic turn in the past two weeks and I guess I had some wishful thinking everything would blow over. My job was to be a store that just closed down and I wouldn't know when they would reopen. I let my roommate and landlord know this morning. Of course , no one was happy but I just felt I needed to protect myself in case they ban domestic travel (TPA-NYC is where I'm from and headed) to high risk cities. I'm still waiting on landlord to send back the money. They have two weeks to find a new tenant. Feeling really bad, but do you guys think this is the best decision to do ? I'm just very overwhelmed and my personal online business has taken a hit. I know everything will be okay, and we're working with a matter of months that everything will hopefully be okay but I don't want to have to burn through savings when all that's in the way is just impatience. [link] [comments] |
| Realtors, what did your foot traffic and open houses look like this past weekend? Posted: 16 Mar 2020 07:12 AM PDT I've seen a ton of threads asking how Covid19 will affect the real estate market, but that's mostly speculation, and I'm hoping to get actual empirical information. Thanks! [link] [comments] |
| Selling a House in DFW During COVID-19 Posted: 16 Mar 2020 11:20 AM PDT Hi everyone - just looking for opinions and thoughts here. My wife and I are looking to sell our home because we got the scoop on amazing home off market a week ago before the Coronavirus was gaining steam in the US. Well here we are a week later and both of our jobs have told us to work from home, stay home for 2 weeks, etc. and I'm wondering how you guys are handling open houses and showings to ensure that sellers don't get sick from people coming into the house. Do we wait a month until we have more info? Truly at a loss. [link] [comments] |
| Real Estate ETFs hit 5 year low Posted: 16 Mar 2020 11:03 AM PDT Real Estate ETFs hit 5 year low 5 year chart: https://i.imgur.com/cgsRwYm.png residential real estate makes up 15% of the ETF, the rest is commerical real estate. Commerical real estate is dropping hard. https://i.imgur.com/b9kYUBA.png [link] [comments] |
| Buying a home with a deck not up to code and possibly unpermitted (FL) Posted: 16 Mar 2020 06:18 AM PDT This house has a deck that also has a 2nd story. The inspection came back and the slats are too far apart, the stairs to the 2nd story doesn't have any handle. You have to go up toddler style. I checked the county permit website and couldn't find where any permit was pulled. The sellers have agreed to fix the slats and other things on the deck, but I'm concerned a permit might not have ever been pulled. What are the risks of going forward? [link] [comments] |
| Posted: 16 Mar 2020 05:24 AM PDT My wife and were planning to close on a home next week. Our due diligence period ends this coming Friday. With the economy tanking and my wife and I both working at volatile jobs, we would like to back out of the purchase. Could the seller sue us? We're in NC. We would still be in the due diligence period and I know we would lose of DD money, which is fine. But I'm just not sure if we can back out without some good reason. Also, will I owe my buyers agent commission if the deal falls through? [link] [comments] |
| Needing advice on foundation damp spots Posted: 16 Mar 2020 08:50 AM PDT We just moved into a new construction home last year and every time it rains we get some dark damp spots in the foundation. The spots look and feel damp but there aren't any signs of water actually being above the surface of the concrete. There about 5 different spots that are like this, each one being anywhere from 2ft to 5ft in diameter. I have pictures of what the look like right now, but they are not as prominent since the rain has stopped. We have one crack in the foundation that spans maybe 14ft or so and it's almost 1/8 wide right now. The foundation was poured in Feb of 2019. I am new to Home ownership and would just like to know if this is normal or if this means we have a water problem etc. Thanks [link] [comments] |
| Posted: 16 Mar 2020 08:28 AM PDT Hey everyone, So this is probably a really stupid question. We're (hopefully) going to be first time homeowners once we buy a house. We saw a house yesterday that we're considering making an offer on. I had a question for people who know about renovating homes and things. In the basement, there is a "closet" pretty much 4 walls and a door prob put in to hide what's inside. But this closet holds pipes and the water heater. There were also a door against the wall with access to pipes. I really hope pipes is correct here haha Just wondering if we get the house, in the future could we relocate whatever is inside that "closet" to open up the space? That thing is positioned like in the center of the basement and we wanted to use the basement as a 3rd bedroom (master bedroom). It wouldn't be done right away because I'm sure it would cost a lot and we didnt plan for that expense when looking for homes but was just curious if this is even possible or wed have to live with it the way it is forever? So long story short, is there ever a situation where pipes and things cannot be relocated no matter what and they have to stay where they were originally placed? [link] [comments] |
| Is the end of this year a bad time to buy? Posted: 16 Mar 2020 08:14 AM PDT I plan on buying a house at the end of the year because the lease on my apartment ends in December. There are a lot of houses in my price range on the market right now in my area and it's a lot more than I saw last winter/fall. Now seems like a great time to buy but if I cancel my lease early, I have to pay 3K (three months rent). I plan to start looking for houses in September and close by November so I can move in December. Would it be better to get a 6 month lease at the end of the year and buy a house in the spring of 2021 or continue as planned? If I wait, I have more time to save and the market might be better. But I also don't want to stay in my apartment for much longer and a six month lease costs more. Is there a significant trend with the market being better in spring or are my chances just as good in the winter/fall? Just for reference, I'm looking for a house in southeastern PA that is under 200K and maybe eligible for the USDA guaranteed loan. [link] [comments] |
| Thoughts on where mortgage rates are going? Posted: 16 Mar 2020 08:05 AM PDT My wife and I were under contract on a house 2 weeks ago, and was able to lock in a rate of 3.125 which was awesome, but sadly the inspection failed and lead to the contract being terminated. We are now under contract on a new house as of yesterday, and am upset my rate is now quoted at 3.625 due to what appears to be a false floor lenders have created due to the flood of applications, particularly on refi. I am thinking of floating my rate for our 4/30 closing, but wanted to get other people's opinion as to where they think rates will be headed in the next few months. Really was hoping to get a rate of 3.25 or better and my jaw almost dropped when the broker quoted me 3.625. That is a real difference in my monthly payments/cost of loan. Side gripe that banks can borrow money interest free right now but I can't get a mortgage from the fed... [link] [comments] |
| Upgrade options to pick on new construction Posted: 16 Mar 2020 07:10 AM PDT I am buying a new home, and confused on two options: 1. Cortec versus Engineered Hardwood? 2. Should one get Engineered Joist? Also, like to hear your thoughts on upgrades you would pick for a new home. Thank you! [link] [comments] |
| Calling all underwriters? Help! Posted: 15 Mar 2020 07:13 PM PDT Hey, guys! So, I work as a flight attendant, and rumor at my airline is that there'll be a full stop on flights starting Wednesday. I am 8 days out from closing on a house. My work history is 6 years with this company. I have enough savings to cover the mortgage for six months at least. My credit score is 806. I fully qualify for this property... assuming I'm working. But what are the odds the underwriter at my bank takes a look at my job and says I'm suddenly "not employed," and nixes this loan? I honestly think I'd cry... or scream. What are your thoughts, underwriters?? Help! [link] [comments] |
| Just bought my first home, scared that I may have purchased right before a recession Posted: 16 Mar 2020 05:57 AM PDT Should I be worried? My husband and I just purchased our first home and I see stocks just plummeting. [link] [comments] |
| Seller lives in Florida, property is located in NYC Posted: 16 Mar 2020 05:41 AM PDT How would closing work if the seller lives in Florida, property and I am located in NYC. [link] [comments] |
| Posted: 16 Mar 2020 05:41 AM PDT If township offices close and we can't get a certificate of occupancy does that totally kill the closing? I'm in NJ if that makes a difference [link] [comments] |
| Australia-buying 1st home/and government guarantor %15 deposit AUS Posted: 16 Mar 2020 02:51 AM PDT Hi al,I'm asking in general if anyone has any advice regarding buying a home at this point of the Covid-19 Pandemic.We are looking at buying our first home,only up to $300000,we have $40000 cash and banks desperate to loan us whatever we need but we were waiting until July for the second round of government guarantor %15 deposit.Or wait until we have the %20 deposit in cash by ourself.We do not want to get into extra debt we don't need.We could buy a house up to $400k but for a first home I only want to stay at $300k or under. My question is-whilst I realise that none of us can tell the future and no one knows what's going to happen,I don't know if now is a good time to buy a house?Should we wait until we know what's happening with the market?I looked at a house $320k Neg on the weekend and the lady txt today saying the owners would take under $300k,I honestly feel as though they just want it sold before the shit really hits the fan?If anyone knows anything about patterns in the market/recession etc and can offer advice I would really appreciate it.Like most people,I don't want to buy a $300k house and in 6mths it's worth $150k.Also should we just wait until we have the %20 cash deposit? Lastly has anyone bought a house with the government guaranteeing the %15 of the %20 deposit for them?If so,what are the rates/interest,was it hard to get etc?Thankyou in advance for any advice and take care in your life at the moment!✌🏼 [link] [comments] |
| Federal Reserve cuts rates to zero to support economy Posted: 15 Mar 2020 02:20 PM PDT Federal Reserve cuts rates to zero to support economy during coronavirus pandemic https://www.cnn.com/2020/03/15/economy/federal-reserve/index.html [link] [comments] |
| Should I still close on my house tomorrow with the feds lowering interest rate? Posted: 16 Mar 2020 07:42 AM PDT I'm supposed to close on my first home tomorrow. The loan is drawn up as a 30 year fixed rate mortgage with an interest rate of 3.625%. This is a good interest rate, but I saw that the FED is lowering interest rates to near zero. What does this mean for me? Is it possible for me to immediately lower my interest rate? My lender told me no, but I'm not sure if they are being honest. [link] [comments] |
| How do I get into real estate investments? Posted: 15 Mar 2020 08:19 PM PDT I want to start investing into real estate but I'm not sure exactly where to start. I live in NYC, I have an excellent credit score and I'm building my savings with my new job that pays $63K/yr. Whenever I google things, there's just a bunch of scams. Any advice? [link] [comments] |
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