Real Estate: What is going on with rates? Why the huge jump this week? |
- What is going on with rates? Why the huge jump this week?
- How frequent is your contact with your realtor?
- Anecdotal - But What Are You Seeing In Your Local Markets?
- Buyer's home loan was approved at beginning of March, plans to close April 30th; Is concern that it could fall apart before then due to current market falls legitimate? USA, Oregon
- How can i value a rental property?
- Seller - Appraisal w/ Misinformation
- Is the MLS canceling for a month?
- Tucson Commercial Real Estate
- Are y'all still shopping for a new home?
- Have you ever self financed a condo?
- Advice for buying with contingency to sell
- Closing on a house in 2 hours. Should I delay? (US-WI)
- Is it possible to get a mortgage without income verification if you put down a large down payment?
- Booking deposit question
- Seller contacted me, is this normal?
- Where to get lease agreements in Canada?
- Anyone still door knocking?
- Purchasing Advice Needed
- How much more cost for apartment complexes for pools, jacuzzis, fitness rooms?
- Rent-setting for property managers
- Probably gonna leave work soon. Will this look bad to lenders when buying a new home?
- New builder refuses to give our buying agent commission. What can we do?
| What is going on with rates? Why the huge jump this week? Posted: 13 Mar 2020 09:04 AM PDT Rates were at 3% (even lower for a bit), but have jump substantially this week. What is the reason for the jump? Do you expect the rates to keep increasing or do you think we may see another dip again? [link] [comments] |
| How frequent is your contact with your realtor? Posted: 13 Mar 2020 08:28 AM PDT First time home buyer and unsure of how much is too much contact with agent. We are across the country from her, but will be taking to trip to her to see homes this week. The houses in the area that we are looking are going so fast! When a house that we fits our bill pops up, I will email her and ask her if she has any insight on the timeline. This has happened maybe twice. We have sent a few other emails- one to confirm our budget so that she knows what to show us this week. One email asking about how the current state of the coronavirus will affect the market/ our trip. How much is too much back and forth? Should I feel bad each time I reach out? I don't want to be too needy, and given that I've never had a realtor before I don't know the norm. [link] [comments] |
| Anecdotal - But What Are You Seeing In Your Local Markets? Posted: 13 Mar 2020 08:24 AM PDT I've seen 5 price drops and 3 homes come back to market (after pending offers) over the last 3 days. Anything under 400k within 30 min downtown commute seems to still get an offer within days, with the price drops and cancelled offers in the 500 - 650k range [link] [comments] |
| Posted: 13 Mar 2020 12:54 AM PDT I know very little about real estate and I am not very knowledgeable on how to use the correct terminology, so bear with me. My family accepted an offer to buy the home of my late grandparents in February. I've been told that inspections are all done and that the bank is ready and all that's left is to have current tenants (me, but not super relevant) move out within 60 days, and notice was given. Now, if I understand this correctly, the "closing date" is the day when the final paperwork is signed and everything is handed over and paid for. My question is this; is it reasonable to worry that trouble with the market could make the bank pull out from the home loan by then, thus cancelling the sale? I'm not necessarily asking anyone to predict the future, but I would like to get a sense of what I could expect in a worst case scenario and maybe your opinions on how likely it is. [link] [comments] |
| How can i value a rental property? Posted: 13 Mar 2020 07:20 AM PDT |
| Seller - Appraisal w/ Misinformation Posted: 13 Mar 2020 08:13 AM PDT Under contract and am set to close to sell our house on 3/25. The appraisal (FHA) came back $6,000 lower than list price. Obviously, we were disappointed, but after further review the comps were pulled based off of an incorrect square footage valuation for the home. Our house is a split level 3 bd, 2.5 ba with 1,970 sq. ft. There is approximately 700 sq.ft and 1/2 a bath on the lower level which the appraiser listed as "below grade." This is entirely false as the entire home is above grade, but because of this, he only pulled comps with 1,270 sq. ft and 2 bath. He completely omitted the room and bathroom (which also serves as a laundry room) downstairs. What are my options as the seller for disputing this appraisal? [link] [comments] |
| Is the MLS canceling for a month? Posted: 13 Mar 2020 09:46 AM PDT Does anyone know if this is true at all? A colleague of mine showed me the information but I don't know if it is a credible source. I was hoping someone on here had some more info. Cheers! [link] [comments] |
| Posted: 13 Mar 2020 09:18 AM PDT Is Tucson, Arizona a good city to obtain a commercial real estate license and have a good career in commercial real estate? [link] [comments] |
| Are y'all still shopping for a new home? Posted: 13 Mar 2020 08:58 AM PDT I have been on the hunt for our first home since the end of January in a Super hot market. Things seem to be slowing down and mortgage rates are a lot higher. I can't decide if to wait or keep looking. For those that were or are in the market is the coronavirus/world/u.s. economy making you stop your search? [link] [comments] |
| Have you ever self financed a condo? Posted: 13 Mar 2020 08:31 AM PDT Hello all, I am the seller of a 1br 1ba condo with no mortgage. I have a buyer who is very excited to get this property. He has offered to buy as is with no contingencies (which is good because the unit needs some work) We have a ratified contract but the bank just refused to finance him a week before closing. He is an investor with multiple properties. The reason for the refusal is because we are 51% investor owned. We are looking at self financing the unit, but the idea has me pretty worried. However, the terms of the deal are very beneficial to me, and I have to get this condo off my books in order to buy a much bigger investment in mid-april. My commercial lender has said that I can self finance or rent the unit out but need to have it off my books as a liability. Have any of you tried this? What are some pitfalls to work out? Am I crazy for this? What are the key things here? How should the deal be structured with respect to condo fees and assessments? What interest rates and length of loan should I be looking at? [link] [comments] |
| Advice for buying with contingency to sell Posted: 13 Mar 2020 07:39 AM PDT I'm in the process of trying to buy a new house/sell mine, and I've had reasonable offers (plus 1 high offer) denied on 4 separate houses because I have a contingency to sell my house. My realtor tells me contingencies are common, so why is it such a hang up for me? My realtor is pushing me to get my house on the market as soon as possible to get it sold so that I don't have a contingency, but that worries me that my house will sell before I find anything in my area that's what I'm looking for. Advice? [link] [comments] |
| Closing on a house in 2 hours. Should I delay? (US-WI) Posted: 13 Mar 2020 07:22 AM PDT I'm scheduled to close on my house in less than 2 hours. I haven't been too concerned about the pandemic and market crash (I know the stock market is not the housing market), as rapidly as things are moving, it makes me wonder if even getting another week's perspective would be better. I'm not over-buying (I can comfortably afford my mortgage payments), I work for a stable institution. I do live in a pretty hot market where prices have been going up pretty steeply for several years. Does anyone have any thoughts on this or have suggestions for where I can get some good advice on short notice? [link] [comments] |
| Is it possible to get a mortgage without income verification if you put down a large down payment? Posted: 13 Mar 2020 12:51 AM PDT I'm self employed and my tax returns show a small income. Nice of the government to give me so many deductions and write-offs but it puts me in a bad spot for trying to get a mortgage. Would it be possible to just put down a large down payment? Like 30% or even 50%? I'm considering just buying a house outright but getting a mortgage for some of it would allow me to get a nicer home. If it's possible, how do I do it? What lenders offer this? Thanks [link] [comments] |
| Posted: 13 Mar 2020 03:35 AM PDT Hi all, First time poster here so my apologies of this is in the wrong sub. Me and my partner are currently in the process of purchasing a house. We paid the booking deposit a little under 2 weeks ago. With the mortgage process it should be just under another week before we are told yes or no by the bank as to whether or not we can have the mortgage. The real estate agent (I think she owns the company but not completely sure on this) is being very pushy. She specifically told us we have 3 business weeks after the deposit is paid and after 1 week (or 10 days) she's telling us that we only have "2 days or so" left. We contacted our solicitor and she said she could stall the entire process by weeks if we need it but I'm not convinced. Can the estate agent just refund our deposit without our consent? Do we have any rights here at all? Has anybody experienced something similar? Also just a bonus question. With the corona virus running rampant at the moment would it be wise to hold off on purchasing a property in the hope that the prices may drop or is that Hurst wishful thinking? Thanks all. [link] [comments] |
| Seller contacted me, is this normal? Posted: 12 Mar 2020 03:41 PM PDT First time home buying ; found a house in Ocean Co, NJ that we liked, so put a bid on it. Within 48 hrs found out the tenant died in the house, body discovered 2 weeks later! This was not in the Disclosure Statement (surprise!). Withdrew bid through our agent, giving the info we found as the reason. 24 hrs later we got a voice mail from a relative of the owner (husband, brother, son?) who wants to speak with us about "reconsidering", & that what I told my agent "doesn't represent what happened on the property". He left 2 more voice mails; I didn't call back. Is this normal for the seller to contact a buyer and challenge my reason for withdrawing the bid? I found it quite obtrusive, even creepy. [link] [comments] |
| Where to get lease agreements in Canada? Posted: 13 Mar 2020 12:18 AM PDT Do lease agreements only come from lawyers or are there any places on the web that have templates for Canadian residential lease agreements? [link] [comments] |
| Posted: 12 Mar 2020 07:35 PM PDT As the coronavirus is making an impact on our communities, I'd like to say I'm in the process of generating leads and really was looking forward to door knocking my neighborhood. I'm assuming it's a terrible time to do that now. Has anyone been trying and how has the pandemic affected your business. Also, have people been showing up to your open houses? [link] [comments] |
| Posted: 12 Mar 2020 06:34 PM PDT I'm located in the U.S. and I'm in the market to purchase my 2nd home (already sold my first). I've been looking since November, living with my parents. I have a small savings but not enough for a down payment of 20%. But that's ok in this area because I can qualify for an RD loan. I don't have much for choice at this point, and I really feel myself needing to live in my own place again soon...for my mental health LOL. Would it be smarter to purchase a home with a lower sales price that needs updates OR a home that would be a bit more than what I wanted to play per month but it's been fully remodeled and looks amazeballs? Both properties are located in REALLY nice, older neighborhoods in my area. So basically I guess my question is should I get a lower monthly payment and then use my savings periodically to do updates? Or should I just take a higher monthly and then have my savings as a cushion? Or...option 3: neither. Keep looking. [link] [comments] |
| How much more cost for apartment complexes for pools, jacuzzis, fitness rooms? Posted: 12 Mar 2020 08:36 PM PDT I'm looking in the Bellevue/Redmond area where rents are like 2000 - 2500K just for a 1bed/1bath. It's ridiculous. The other thing that annoys me is all these complexes have these features I will never use... like the pool, jacuzzi, fitness rooms, BBQ area, clubhouse, etc. But it's like 95% of the complexes have these features. And frankly they're shitty. Like the pools are small with not being able to swim full lengths, or the fitness rooms are just treadmills and stair masters. I kinda want a complex that's cheaper and "does not" have these areas to maintain. I don't think I'm alone. There should be a substantial amount of folks (even who are below 35) who all they want is a solid, clean place to live, in a decent location, and quiet. I've lived in complexes before with these features and frankly they always seem to go unused. So I was curious if people knew. Are these kinds of features cheap to implement and maintain for a complex, and bring more value than what I'm thinking to justify higher rents? Isn't it just more headache for the complex with tenants to possibly squabble over usage, increase in any liability insurance costs, more stuff that can break, etc.? [link] [comments] |
| Rent-setting for property managers Posted: 12 Mar 2020 04:37 PM PDT For those of you who have experience in property management, what are the steps you take to fill/refill a vacancy in your property? How do you know that you're setting the right rent price so that you're getting positive returns? Are there any parts in the rent setting experience you feel frustrated by? [link] [comments] |
| Probably gonna leave work soon. Will this look bad to lenders when buying a new home? Posted: 12 Mar 2020 08:20 PM PDT My husband is our main income provider. I make 12k a year roughly, and will be leaving soon to finish school this summer. We are planning to buy in the fall. Will my job absence look bad to a lender? Even if it's a noble leave for school? I will start looking for work again in August once finished. I just can't do my clinicals and hold my job. I'm open to any and all advice and feedback here. [link] [comments] |
| New builder refuses to give our buying agent commission. What can we do? Posted: 12 Mar 2020 08:19 PM PDT We've been doing some light home shopping (in California) with our agent for a couple months and one day we had a couple of free hours so decided to check out a new community being built with just the two of us (no agent). There was a waiting list so we innocently put out name down not thinking much of it. We got a surprise call a few days ago from the builder saying we got the house. We gave our agent's name but the builder is saying no, it's too late because we didn't mention them or come with them on our initial visit (although we went with the agent on subsequent visits, not to mention many other open house listings). We really like our agent and want them to get credit. What options, if any, do we have? [link] [comments] |
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