Real Estate: Resources for homeowners affected by COVID19. |
- Resources for homeowners affected by COVID19.
- Redfin lays off 7% of staff, furloughs hundreds of agents due to COVID-19 impact on housing demand (Geekwire)
- For everyone asking SHOULD I BUY NOW OR WAIT?... here you go:
- I am in Venezuela, any advice on how to approach the real estate business?
- 11 Charts That Show How the Coronavirus Is Impacting the Housing Market
- Buying first house out of college
- Winterized house and Home Inspections
- Colorado Real Estate Market Shut Down!
- Getting into real estate from leasing
- Real Estate Agent to find a Rental?
- WSJ: arkets Nearly a Third of U.S. Apartment Renters Didn’t Pay April Rent
- Should I buy a 2nd house as a rental property?
- (NC) Holes in the exterior wall discovered after purchase
- Licensed Agents: Tell me about your hustle.. I’m thinking of taking the plunge.
- Question about qualifying for a mortgage
- New part time REALTOR - how realistic is it?
- WV, Items Left After Close
- Nj: what’s your local market like right now?
- [FL] any advice for a new landlord on how to avoid squatters?
- Closed on purchase almost 6 months ago, contract still not 100% fulfilled
- California Realtors: I took all three course requirements while I was at community college (finished in 2011) but never took the salesperson exam. Is there a time limit from when I finished my classes or am I good to study for the exam and take it? Just need to send transcripts from what I see.
- Is Wholesaling an Ethical Strategy?
- First time home buyer (joint buyer) - Inquiry about Down Payment Assistance program to help our status in California
- first rental PROPERTY questions?
- Counter Offer
| Resources for homeowners affected by COVID19. Posted: 07 Apr 2020 03:42 PM PDT Here's a list of some high level resources where homeowners can find additional information and possibly help, regarding mortgage forbearance or other questions. If you want to suggest other links that are not blogs or promotional, message me and I'll add them here at the top. List of lenders who may offer relief: https://www.aba.com/about-us/press-room/industry-response-coronavirus https://www.hud.gov/ National relief information and resources https://apps.hud.gov/offices/hsg/sfh/hcc/hcs.cfm if you want to talk to a housing counselor about avoiding foreclosure If you have a Fannie Mae loan: https://www.knowyouroptions.com/covid19assistance If you have a Freddie Mac loan: https://myhome.freddiemac.com/own/getting-help-disaster.html General info on CFPB site: https://www.consumerfinance.gov/about-us/blog/guide-coronavirus-mortgage-relief-options/ https://www.sba.gov/ Small Business Loans 800-827-5722. https://www.nar.realtor/coronavirus-resources-for-property-owners [link] [comments] |
| Posted: 07 Apr 2020 05:01 PM PDT |
| For everyone asking SHOULD I BUY NOW OR WAIT?... here you go: Posted: 07 Apr 2020 12:17 PM PDT A list of all the other posts who have asked this in the last 2-3 weeks: [link] [comments] |
| I am in Venezuela, any advice on how to approach the real estate business? Posted: 08 Apr 2020 08:40 AM PDT For more details, although the country is crumbling, if you have enough cash-flow you can certainly invest on real estate, problem is, many houses and apartments/condos in Venezuela are awful, without good design, aside they tend to be overpriced in lots of areas (at least in Caracas), specially brick-&-mortar houses (we don't build homes in wood frames, just masonry). I was thinking into investing on colonial-type townhouses which are located in areas that are more "popular" as they form part of historic areas and in the future may be attractive properties for business and people alike, just as the Hutongs in China, but I don't know, I am a complete amateur and this type of business require investment in money, resources and time. [link] [comments] |
| 11 Charts That Show How the Coronavirus Is Impacting the Housing Market Posted: 07 Apr 2020 09:30 PM PDT The impacts of the coronavirus pandemic are rippling through to nearly every segment of the economy and the housing market is no exception. The outbreak has driven sudden changes in behavior among homebuyers and sellers in the United States, which now has more reported cases of COVID-19 than any other country in the world. Here are 11 charts that show how the coronavirus pandemic is changing the housing market. https://www.redfin.com/blog/coronavirus-housing-market-impact/ [link] [comments] |
| Buying first house out of college Posted: 08 Apr 2020 08:08 AM PDT Hey guys, I am looking at buying my first home. How much would I need to put down on a 250k town-home with decent credit, around 750, and a decent, mid range Comp Sci salary, I am 22. Dont have much in savings but I need to get out of my current living. What are my options? EDIT: Dont really want an apartment when I can use rent to go toward a mortgage [link] [comments] |
| Winterized house and Home Inspections Posted: 08 Apr 2020 05:15 AM PDT I was have major issue i believe and i am sure there is a simple solution. I am a 1st time home buyer and got my offer accepted 10k below asking. The comps around the area are 170 plus i got the property with a 203k loan for 110k. The issue i am facing is that the house is winterized i can get the electric on at anytime.The water department is closed and only taking voicemails and email(i also sent a registration form for services). I dont know when they will begin to get back to me the issue i am facing is that the gas company soonest appointment is May 4th i am suppose to close on may 11th. I know it is unlikely that closing will happen then because of the process of a 203k loan. My question is can i have a home inspection with just the electric and water on and have them come out when the gas is on?I am willing to pay them a trip fee or whatever is required. Or is there a solution that anyone of you guys have encountered that can assist me?Should i move forward? I am located in the midwest where winter gets crazy and the property only needs 20k of work. The bulk of the money will be in the kitchen and refinishing floors,paint, and other minor cosmetics. HELPPPPPPPPP [link] [comments] |
| Colorado Real Estate Market Shut Down! Posted: 07 Apr 2020 03:58 PM PDT Just got off the phone with my realtor. She said the attorney general just shut down all showings, walk throughs, inspections, appraisals - anything that you need to physically be at a property for, until the state-wide stay at home order is lifted. She said it was a $1000 fine and up to a year in jail for not abiding. Closings and offers can still be made. Sounds confusing. Just an FYI [link] [comments] |
| Getting into real estate from leasing Posted: 08 Apr 2020 09:30 AM PDT Hey guys! I'm currently in leasing at a luxury apartment complex and have been thinking about getting into real estate. I am 23 with a 4 year old and have not gone to college as I have made pretty decent money without needing a degree so far. I would be willing to take online classes if i really thought a career in real estate would take off or be ideal for me. However, I do not want to put myself thousands of dollars in debt for a career that may not work out for me. Current real estate agents - How did you get your foot in the door and how many classes did you have to take to get your license? Also, about how much did it cost to get started and how long did it take for you to make a real profit? I heard it takes a lot to get started up and 2-4 years to see a real profit. Any information you can give me would be very helpful and well appreciated! Thank you! [link] [comments] |
| Real Estate Agent to find a Rental? Posted: 08 Apr 2020 03:25 AM PDT I am moving cities, almost certainly. I have a job offer in a large city (moving from town of 75k 6 hour drive away). I know nothing about this city, I've only been there a few times. I'm a bit nervous about moving to a big city, not something I've ever done before. I've looked at apartments online, but there are so many (so many) and I feel like the reviews are all over the place. I don't want to live somewhere that is gross or dangerous, but it sounds like everywhere has several people saying XYZ apartments are gross and dangerous lol. Does anyone have any experience using an agent to find an apartment? Do they really help you find something for your needs/budget or do they just push you to one of their investment property clients that needs a tenant? [link] [comments] |
| WSJ: arkets Nearly a Third of U.S. Apartment Renters Didn’t Pay April Rent Posted: 08 Apr 2020 09:21 AM PDT |
| Should I buy a 2nd house as a rental property? Posted: 08 Apr 2020 06:48 AM PDT I own a house, my fiance rents from her mother. We are getting married this summer and when she moves in, her mother will be looking to sell the house. Its a small townhome in a college town in Kentucky that will cost around 125k. I have always wanted to get into rental properties but currently have 0 experience in it, just wondering if this is a good idea or if I should stay away. Additional info: We have saved up around 10k for wedding expenses this summer which looks like isnt going to be necessary (shout out corona) and around 20k in emergency funds/savings/liquid investments between the two of us. So we have enough to make a good sized down payment, but it essentially drains both of our savings. I currently have roommates now who have expressed interest in renting if we bought the house, so I likely would have renters from day 1, and the house would require no renovations. On one hand I feel like we are currently in a very good spot financially and this could definitely put a little pressure on us because it eats up most of our savings, but on the other hand it feels like the safest way to get started in real estate because we will be getting a good deal from her mother and the first renters will be easy to work with. Any thoughts or advice would be great [link] [comments] |
| (NC) Holes in the exterior wall discovered after purchase Posted: 08 Apr 2020 06:12 AM PDT After purchasing and looking into a tight area in the attic, I can see two holes in the exterior wall: https://ibb.co/3k88bLZ https://ibb.co/MGWmSGt That's light shining through the siding and and water barrier. The siding appears to be new so I'm both concerned about other areas that are not visible and what to make of it. Edit: As for the question, is there a way I can determine if other holes exist? How serious is this? How easily (how?) can I fix this. [link] [comments] |
| Licensed Agents: Tell me about your hustle.. I’m thinking of taking the plunge. Posted: 08 Apr 2020 05:24 AM PDT I've always enjoyed browsing real estate (who hasn't) and fantasize about becoming an agent, but I've never taken the plunge. I'm a very hard worker with a self starter mentality. I'm not scared of the hustle and commitment to make myself succeed. I am worried the market is diluted with self starter agents so compensation will lag behind the effort. My current employer compensates me very well but the job satisfaction just isn't there. I'm 31 and am hesitant about the career change; I already make a lot of money and don't want that to change. So let's be real, tell me about your hustle! Give me a day in the life, are you satisfied with your annual salary based on your effort? Any advice for a potential newbie? If I take the plunge, I'll work my tail off but want to be compensated accordingly. [link] [comments] |
| Question about qualifying for a mortgage Posted: 08 Apr 2020 04:41 AM PDT So a few days ago, I spoke with a loan officer for the first time. I have almost no debt, and recently landed a job with the postal service. Previously, I owned a janitorial business for one year (which I am dissolving), I drove for uber, and worked at a restaurant for 3 years. I was also in the Army for 8 months (I got medically discharged), so I am going to use the VA home loan. My mortgage broker assured me that I will be fine, but I read somewhere that I would have to be in the same job industry for 2 years in order to qualify for a mortgage. Since I just started at the postal service, that is obviously not the same industry as I was previously. I am just nervous that I will be denied, and will be forced to wait until I am at the post office for 2 years. Does anyone have any insight as to whether a lender will still accept me? Do they look as civil service jobs differently? Thanks [link] [comments] |
| New part time REALTOR - how realistic is it? Posted: 08 Apr 2020 04:07 AM PDT In March I got my real estate license (great timing I know) and I moved a couple years ago so I don't know too many people in the state where I have license. I work a full time job that I like but want to make additional income and am good with people and interested in real estate business. My broker is telling me to contact my SOI and prospect a lot but my SOI is tiny where I live and I can't go out to businesses or public places to get my name out there right now. I was told it would be hard doing this only part time and making $ but my goal is 4-5 transactions in my 1st year. During weekends and free time I am devoted to real estate and putting the work / hours in after working 50+ hours at FT job is no issue. Is this realistic or not? What would be some good ways to prospect now and after things go back to normal? Any suggestions / feedback is appreciated. [link] [comments] |
| Posted: 07 Apr 2020 11:51 PM PDT Fiancé and I closed on a house on March 6th. In our contract, we allowed the previous owner use of a detached garage for storage 30 days post closing. This was for "fuel oil left in the tank" which she had estimated to be about $450 worth. We moved in to a 60 degree house with a furnace that wouldn't stay lit because there was no oil. We didn't pursue having her remove her stuff earlier, planning to allow the full 30 days. About two weeks after closing, the seller came back and told us the soonest she could get movers was April 7th. This being two days over the thirty day mark. It wasn't worth the fight as she was incredibly difficult to deal with throughout the whole process. The garage is packed from wall to wall and we're completely unable to use it because of how much stuff she has. April 7th comes and there are movers in my driveway all day. My dog goes nuts it's generally not a great time for us. I go out in the evening to find a note on a napkin tucked under a lawn ornament on my porch. She stated the movers weren't able to get anything. Did the items in my garage become my property at the 30 day mark? She got a lot of stuff but of what's left behind I do have something use for. If like to reprogram the garage door openers and change the lock. There is an outdoor portion of the garage I'd like to put the rest of her stuff in that I don't want (as well as the 6 bags of trash she left in the garage) and keep what I'd like to have locked up. [link] [comments] |
| Nj: what’s your local market like right now? Posted: 07 Apr 2020 06:47 PM PDT |
| [FL] any advice for a new landlord on how to avoid squatters? Posted: 08 Apr 2020 01:42 AM PDT Can a formulate a lease that would make squatting impossible? I don't live in these crazy places you see on the news, but I am paranoid. How would I make an airtight lease? If a random person was to come in, how long do I have to get then removed for trespassing? I live in more upscale neighborhoods, and I have never seen this be a problem. [link] [comments] |
| Closed on purchase almost 6 months ago, contract still not 100% fulfilled Posted: 07 Apr 2020 09:42 PM PDT Long story short, closed in a home approx 6 months ago. Spelled out in the contract was a list of items and renovations to be done by the sellers. At the time of close many of the items had been completed but a few remained. The contract was amended and clearly states the items which are to be completed after closing. Over the last few months a few items were completed but not all. Prior to the shelter in place I was getting a little run around and now obviously work is on hold. One the shelter in place is over I want everything completed ASAP. The work to be completed is keeping me from doing some additional projects on the property. What recourse do I have legally to hopefully light a fire and get things done. Thanks [link] [comments] |
| Posted: 07 Apr 2020 07:24 PM PDT California Realtors: I took all three course requirements while I was at community college (finished in 2011) but never took the salesperson exam. Is there a time limit from when I finished my classes or am I good to study for the exam and take it? Just need to send transcripts from what I see. Thank you! [link] [comments] |
| Is Wholesaling an Ethical Strategy? Posted: 08 Apr 2020 01:00 AM PDT I am learning a lot about wholesaling and it sounds like a great way to make some money with a little bit of hustle, sales, and little upfront cash. However, is it an ethical approach? It appears to me that you are knowingly ripping off people who desperately need that money due to their distressed position. It seems that you are taking the money from desperate people and putting it in your own pocket. Is this how others see it? Or do you see it similar to a stockbroker format where there is a buyer price and seller price and the middleman deserves the spread due to the extra work they put in to get the deal done and making the process FAR easier than it otherwise would've been? Would love to hear some thoughts on this. [link] [comments] |
| Posted: 08 Apr 2020 12:44 AM PDT Hey everyone, Me and my sister are both buying a home together. We've been saving since 2015. We've been preapproved for a mortgage loan on a 660k home in california, for a 22% down payment with an interest locked in at 3.25%. Our assets for the down payment barely matches the cost to closing estimate. We are getting a gift from our parents for 10k. Left over, we will have about 3k left between us. We both have a stable job, So we are not worried about missing future payments. Yearly Income combined for us, is around 100k. Our Bills are very much linked together for our family. We are both listed as buyer-borrower for the family. We're currently past the home inspection and closing is about 1.5months out. I'm very worried that although we're preapproved, everything is going smoothly, that we could be denied last minute for our loan. Due to our assets barely matching the estimated cost to close. The home we are interested in buying, is very much our dream home. Since 2018 when we started checking the market, this home would be the best one out of 100s we have seen. The plan is for our parents to live out the rest of their lives here. It was just recently, that we've heard of the down payment assistance programs. Were wondering if would we still be able to apply for one at this stage of our process? And if so, how do we go about this? And would this compromise our home? We're both thinking that perhaps a DPA program would allow us to comfortably complete the transaction of our home. And allow for a comfortable cushion, since we will be able to re-pay it back at a later time Also, both our lenders representatives and realtor, have been very supportive throughout this process. We haven't mentioned our interest in the DPA program to them. As we are unsure how it would play out with them, if we did. [link] [comments] |
| first rental PROPERTY questions? Posted: 08 Apr 2020 12:30 AM PDT so im trying to get a home from a family member. Its a 1970 2 story its a 6 bedroom 3.5 bath house, and its in houston tx . i grew up in the house and it was fixed up alot and im trying to see if i can assume the mortgage but its payed off. Is there any advice you can give too a young landlord. Also there is alreadya tenant there and i got a person to maintain the property since i dont live there. and i make enough to where i know i can support some losses without harming my lifestyle. [link] [comments] |
| Posted: 07 Apr 2020 08:41 PM PDT Starting to feel discouraged with the counter offer process. Any one else in SoCal (or wherever else) going through this? —-See a house and place an offer that's already 5-10k over listing price to stand out from others. —-Then you get a seller counters everyone with a counter offer..But how can one counter the initial offer when I have no clue what I'm going against?? And I'm already at my limit??! So stressful. [link] [comments] |
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