Real Estate: CNBC: Mortgage forbearance requests jump nearly 2,000% as borrowers seek relief during coronavirus outbreak |
- CNBC: Mortgage forbearance requests jump nearly 2,000% as borrowers seek relief during coronavirus outbreak
- They just counter offered my $500k offer! (NY)
- CNBC: Mortgage Industry on the Brink of Collapse
- What is the benefit of overpricing a home and letting it sit?
- I’m selling my home and the prospective buyer made an offer with a USDA loan. Is it possible to do a rent-back agreement while we wait for our new home to be built? Or will USDA loan rules prohibit a rent-back agreement?
- Buy/sell now or wait this out
- Buying Home in NC, Seller put "No representation" on all the disclosure agreement, turns out they admitted to a leak last year in the roof despite putting no representation.
- Title company costs
- Closing Costs in DC area. VA and MD.
- Should I back out of my new construction home & wait until the market tanks to purchase a different house for cheaper?
- How to Negotiate After Inspection?
- Are there websites to find areas where median costs of owning are lower than median rent?
- What are the closing costs I should pay as a seller?
- I just had to back out of my first deal right before closing due to me being laid off :/
- Question for Real Estate Law Firms regarding COVID -19 Situation and teleworking suggestions
- First home, inspector found dark staining on sheathing in attic
- How to saving buyers agent commission?
- Post-secondary education for commercial
- Buying in Boise now or later?
- Can you be a Real Estate Agent without owning a car?
- Resource Help: Buildings by End-Use by Metro
- Can I work from home in Real Estate?
- Would you wait to purchase in this market?
- [TN] Listed several properties for sale, and a cash buyer wants to buy several of them. Problem: He wants to buy them in physical cash.
Posted: 07 Apr 2020 07:16 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
They just counter offered my $500k offer! (NY) Posted: 06 Apr 2020 03:55 PM PDT I knew it was a fucking game. LIST price was $450k. I offered $500k. They counter offered with $525k. I told my real estate agent that I'm done here [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CNBC: Mortgage Industry on the Brink of Collapse Posted: 06 Apr 2020 11:01 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the benefit of overpricing a home and letting it sit? Posted: 07 Apr 2020 10:27 AM PDT The house across the street is listed $70,000 above market value The subdivision I live in has similar homes and we have the same model, there nothing spectacular about this home that makes it $430k vs other homes in the area. The owners sold it to their company (he got a big job transfer) and the company in charge of selling the home has had it sitting overpriced for months now. We happened to put our home up for sale too and our realtor couldn't understand it either, she said she has no idea what the reasoning is behind that. We sold our home for 360k and our home has more upgrades. No homes in the area have sold even close to this price. Our home is the biggest model. So far they have been lowering the price, but barely.. only $500 at a time, it's been for sale since November of 2019. They have open houses for it every weekend, no one shows up. TLDR: Company bought a house because owners had job transfer, why did the company overprice it by 70k? It has been on the market since early November. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 07 Apr 2020 09:18 AM PDT Also, would anyone happen to know where can I find USDA loan home inspection guidelines? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 07 Apr 2020 05:22 AM PDT I live outside Philadelphia and it's very expensive and competitive right now as there has been limited inventory for a few years. We really want to move this summer but now with the covid19 we are unsure. Is it the time to buy or wait this out? Most sales are being done virtually sight unseen for the most part....Just curious what others are seeing currently and for the future. Thanks [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 07 Apr 2020 08:31 AM PDT Seller put no representation for roof concerns, then said "we had a leak last fall and had it fixed and the wall/ceiling painted" after I asked my agent to inquire. They have no records of it being fixed. Inspection showed no active leak or elevated moisture level, but did report evidence of a leak (buckets and tarp, some stained wood) Here is a photo of the roof stains and wood stains on gutter (https://imgur.com/a/rUpOAiY) I'm definitely going to call a roofing company to come look at the house. How do I go about this? Do I ask for an inspection to confirm everything has been fixed or a quote on repairs of the damaged wood? The general inspector did not mention the roofs condition at all, just put to get a professional to evaluate the stained wood. First home buyer, agent doesn't think its a big concern since they "said it was fixed". Will a roofer also evaluate gutter stains? Any help or thoughts appreciated! Thank you so much [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 07 Apr 2020 07:52 AM PDT Hello r/RealEstate Please help me understand the costs from title companies. I got quotation from 3 title companies and their fees are all over the place. I understand recording fees, documentary stamp and intangible tax are based on county. Why are these fees so different and some have certain things and others don't? Title companies keep saying it is an estimate but I have provided them my builder contract and all the info.
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Closing Costs in DC area. VA and MD. Posted: 07 Apr 2020 05:37 AM PDT Hi all. Does anyone who works in real estate in the DC area have an estimate on the closing costs in Northern Virginia and/or Maryland. Looking around online I see 2.5%-3% listed for NOVA and 3.5% for MD. I realize that things vary from town to town but trying to get a range. Thanks! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 06 Apr 2020 08:28 PM PDT On March 1st, I signed a contract for my very first home - a new build in Surprise, AZ for $425k. I absolutely love this home but I'm paying all cash - I have bad credit so I can't get a loan. I'm super worried that the housing market is going to tank causing my house to be worth half of what I'm paying for it. I talked to the builder & they said they won't come after me if I don't go through with the sale but they would keep my $16k earnest deposit. Should I back out now or keep the house? I know nothing about the housing market. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
How to Negotiate After Inspection? Posted: 07 Apr 2020 07:23 AM PDT Massachusetts, first time home buyer. My DH and I made an offer on a house listed at 525k. Seller moved in 7/2019 after purchase for 485k. We offered 495, she countered 515, we accepted. (As for her value added, new 12k generator, changed out a ceiling fan, otherwise just maintained house well - pumped septic in January, cleaned gas fireplace)...but nothing major to rationalize 40k profit in 8 months. (Said reason for selling is that the house is too much for her at her age. Was her dream home before her husband passed and went for it when he died, but just bit off more than she could chew. Wants to downsize.) Move to inspection, one or two issues we are concerned about. For me, big one is the jacuzzi tub in master bath is non functional. Seller knew this (has had three plumbers out to assess and decided not to spend any money to fix), but did not disclose this pre-offer or pre-inspection. Said that it didn't work when she moved in. Makes me think it's a big repair (which would maybe mean new tub/fixtures and new bathroom flooring as it's one of those giant square tubs with a wooden casing around.) Jacuzzi master tub is featured in MLS listing. Questions about a couple of appliances and whether they work (fridge water dispenser, gas fireplace, wine chiller). Single board with mold in the attic. Window leaking in main hallway at front of house. We raised these concerns through the agents. We don't want seller to fix anything, just hoping there's some form of compensation- either through covering closing costs or even a price reduction? (though we did ask for a mold remediation company to come assess ASAP) Sellers agent just said, "I know she won't do anything about the tub. It was like that when she moved in. She already came down 10k. But I'll send her your list." Now we're feeling a little sketched out. Seller obviously knew about the tub and made no moves to disclose at any point. In MA there is a sellers disclosure form, and our seller left a lot of it blank...just lazy? Really doesn't know since she's been in the house 8 months? Trying to hide? How would you ballpark a reasonable number to cover the issues? Do we do this through the real estate lawyers or the agents? I think our agent is kind of a softie and he obviously wants to make the sale. I know he wants us to get what we want, but... We haven't covered this with the lawyer yet but obviously don't want to rack up bills if we can do this another way? Forgive my ignorance! Never done this before and want to make sure we aren't making mistakes or buying headaches. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Are there websites to find areas where median costs of owning are lower than median rent? Posted: 07 Apr 2020 07:21 AM PDT I've done a bit of google-ing and couldn't find anything past articles where they've done some analyses on cities where renting is cheaper than buying RE. Now, what I'm trying to figure out is whether there are websites/tools that can get you this information ad-hoc. Say, I have a certain amount of money in mind that I want to invest and an area that I'm considering buying in. I could go to some of the websites like trulia or zillow to see what SFH, for example, sell for and what rents are for equivalent houses. If mortgage payments come out to be less than the price I could rent out the house (given my downpayment, taxes, interest rate), then it'd make sense to buy in that market and rent out to someone. TL;DR is there a tool that analyzes given areas of interest (zip codes, cities) on the median cost of ownership vs median cost of rent? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What are the closing costs I should pay as a seller? Posted: 07 Apr 2020 10:33 AM PDT My home is under contract and I have agreed to pay closing costs UP TO a certain amount. How do I know what is/is not a legitimate closing cost when I review the closing documents? My realtor tells me "they will use all of it," but I'm not trying to pay for costs that aren't for closing. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I just had to back out of my first deal right before closing due to me being laid off :/ Posted: 06 Apr 2020 02:57 PM PDT Im really depressed now ive lost 2000usd from EMD and appraisal fee. I worked really hard from extra hrs at work and saving every penny an putting off having fun just to buy this property and right at the end I had to back out :/ now im still stuck in this shack of a home where i reside i feel so terrible. I feel as if all my hard work was for nothing an loosing 2grand usd is really disturbing my mind [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Question for Real Estate Law Firms regarding COVID -19 Situation and teleworking suggestions Posted: 07 Apr 2020 10:04 AM PDT This is understandably an abnormal situation with unique circumstances with all this virus stuff going on. I am a real estate precloser and our firm feels as if they are handling this different than most. We operate in the county with the most cases in my state. However, my boss seems to not think much of this virus, as he has been going to their beach continuously during this over the past few weeks. We have made changes to our protocols regarding cleaning everything and seperating every party as best we can, but we have seemed to ignore the suggestion to limit the number of workers and have whoever is able to telework to do that. At this point we seem to be the final company in our entire building still accepting customers to come in and we are the only company in our building I have seen that has not reduced our numbers in office( beside those who are actually out sick with a fever). We have more than 10 in the office and to make matters more interesting, they let one employee go due to the fact that she wouldn't come in during all of this out of major precaution. I am just looking to get opinions because I feel uncomfortable this week, as we just had the highest amount of deaths in one day. I spoke to my doctor on an unrelated note, and he is aware of my profession and even went as far as to ask why we are not implementing teleworking and called it "ultimately irresponsible". If you have any insight or perspectives I would appreciate it. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First home, inspector found dark staining on sheathing in attic Posted: 07 Apr 2020 09:52 AM PDT Hi folks I am in the process of purchasing a home built in 2007, in Ontario Canada where climates are quite cold in the winter. The inspector found a 2x2 area of dark staining, near a truss vent. His impression was that it was due to a soffit vent blockage with loose fiberglass insulation. He did not seem concerned when we spoke in person but he has flagged it as a safety concern in the report. I was hoping to get some opinions regarding what this issue means and how to proceed from here on. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
How to saving buyers agent commission? Posted: 07 Apr 2020 09:31 AM PDT Redfin rebates are not allowed in our area. If we are doing the property selection and the rest we could have a real estate attorney perform. How could we save on buyers commission without a real estate license? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post-secondary education for commercial Posted: 07 Apr 2020 09:02 AM PDT Hey all, My wife and I are both looking to get into real-estate. Me only part time as my current passion is getting into a fire department. The wife wants to hopefully transition into full time or also part time with me until we can afford to go all in. She is also wanting to change to any other carrer field at this point so this is a long term goal. Question is there any undergrads or certificates with transferable skills into commercial real-estate? Business management with a focus on marketing is what has her eye but i told her finance might be better. Again this is subjective and I am just gathering information to relay to her as my previous trade was software development so im not too knowledgeable on the subject. Shes considering an online degree through athabascau while she works and does real estate. With both our loans she cant commit to full time especaily with covid right now. Excuse my poor grammar I am in full PPE volunteering so im trying to type fast on my cell. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 07 Apr 2020 08:47 AM PDT I know the general consensus is to buy later after COVID has taken its tole, but Boise real estate prices have really increased in the last few years so I don't know how that effects it. Anybody familiar with this area or somewhere similar willing to weigh in? I'm in the military and probably going to be here for a couple more years but also want to use it as an investment property after I leave to my next duty station. Any insight is greatly appreciated! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Can you be a Real Estate Agent without owning a car? Posted: 07 Apr 2020 04:28 AM PDT Is owning a vehicle an requirement in terms of being a successful real estate agent? I am mostly talking about bigger cities such as New York, Chicago, D.C., Miami, etc. Any Agents here work without a car? Has it hindered you at all? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Resource Help: Buildings by End-Use by Metro Posted: 07 Apr 2020 07:57 AM PDT I am looking to find an accurate number of buildings in the top metros in the US. Ideally would give me a count of low rise vs mid rise vs high rise. If I could look at data over the years to calculate a growth rate that would be great but not as necessary. Please let me know if anyone knows of a website or database that could help me!! Thanks. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Can I work from home in Real Estate? Posted: 07 Apr 2020 07:52 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Would you wait to purchase in this market? Posted: 06 Apr 2020 07:36 PM PDT My wife and I are moving to ABQ and looking to purchase our first house. We have plenty saved up and are able to put down a good amount for a house. ABQ's housing market isn't exactly thriving, but one house we were looking at already dropped from 425k to 400. With so much uncertainty right now, would you wait to purchase and see if the housing market drops even more? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 07 Apr 2020 07:22 AM PDT He is adamant about not wiring the money or using a personal check. This seems very shady to say the least, but his offers have consistently been the highest on the properties he's offered on. Any thoughts? Never did a literal cash deal before, and my agent also seems a bit confused. The properties are in Memphis, TN, but I live in southern California. Not sure how this would work or if I should even be considering this kind of buyer. [link] [comments] |
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