Real Estate: Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms |
- Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms
- Northern San Diego $1.5M Market
- Why do 'For Sale' signs outside properties not have the asking price of the property on?
- Mortgage rate under 3%
- How do deal with fabulous realtor who is too chatty?
- Rental property scam question
- First steps for someone who knows literally NOTHING about home buying
- Do multiple homes on a property count as multi-family?
- First time seller question
- Question about mislead listing
- First time seller and offers/counter offer and showings:
- Important to talk to mortgage lender in same state that buying?
- Plan on doing real estate investing. Closed on first property this week. Lawyer suggested a hub and spoke model with an LLC. Anyone have a similar business model?
- Title/Escrow/Closing Agents: Whose decision is it to say a closing can be completed electronically as opposed to on paper.
- 22yo looking to buy investment property with friend
- Someone wants to buy my house
- Are listing agents allowed to divulge dollar amounts of bids to potential buyers?
- I feel bad for my realtor because I don’t like the houses he sends me. How long do realtor stick with you until they give up?
- Despite Lower Mortgage Rates, Prices fall YoY in King County (Seattle)
- Request for advice for restarting negotiating
- Really UPSET!!!
- Experiences mortgaging with foreign income?
- Indiana First Time Home Buyer Program
- Tenants in Common sale
| Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms Posted: 05 Jun 2020 11:05 PM PDT According to the analytics company Black Knight, 4.75 million homeowners — or 9% of all mortgages — have entered into forbearance plans. And millions of people are getting help from all kinds of lenders. According to the latest available numbers from the credit bureau TransUnion, about 3 million auto loans and 15 million credit card accounts are in some kind of program to let people skip or make partial payments. Those are probably low estimates. "When the $600-a-week unemployment insurance runs out at the end of July, most people expect tremendous displacement risk," says Andrew Jakabovics with the affordable housing nonprofit Enterprise Community Partners. "Evictions are likely to go through the roof." [link] [comments] |
| Northern San Diego $1.5M Market Posted: 06 Jun 2020 08:26 AM PDT For those of you in real estate, I am curious what you are seeing in the ~$1.5M market in northern San Diego with the squeeze on jumbo mortgages and tighter lending rules that came out lately. My wife and I are on the sidelines leasing a place for now, but we have been monitoring the market for the past few months. I've seen a lot of places in South Carlsbad, Encinitas, Carmel Valley come on the market between $1.3M - $1.8M, a lot go pending but many of them seem to be falling out of closing and going back on the market in the last couple of weeks. I assume that is due to tighter lending policy killing deals. I also wonder how many people have the cash and credit to qualify in this price range and if those buyers will dry up as the summer goes on and more inventory hits the market as the phased re-opening continues. None of us can predict the future, but curious to hear your opinions. [link] [comments] |
| Why do 'For Sale' signs outside properties not have the asking price of the property on? Posted: 06 Jun 2020 07:05 AM PDT Sorry if this is a dumb question, but I've always thought it would make sense to have the price of the property on the for sale sign [link] [comments] |
| Posted: 06 Jun 2020 03:50 AM PDT I was wondering if anyone has seen or been able to secure a 30 yr fixed jumbo for under 3 percent? I was told by a mortgage broker that this is possible a few weeks ago. Have no debt, credit score 840, and putting 25 percent down. I want to shop around but don't want my credit score pulled multiple times. Looking for the best way to search for the lowest rate possible. [link] [comments] |
| How do deal with fabulous realtor who is too chatty? Posted: 06 Jun 2020 10:13 AM PDT We're looking to move to Charlotte next year. I reached out to several realtors that checked off our boxes and narrowed it down to a wonderful, very experienced lady in the area. We signed on to use her. She's been nothing short of excellent, but spends WAY too much time rambling on. Phone calls have been up to an hour and voicemails are several minutes long. Being out of state buyers means when we are able to go visit and see houses, every minute counts. How should I address this with her, or should we just select another realtor? [link] [comments] |
| Posted: 06 Jun 2020 07:46 AM PDT Recently, I found a rental through Zillow that I am interested in moving in to. I requested to tour the place and the landlord left the house unlocked so we could take a look but was not there herself. We had a back and forth through email and settled on a monthly rate. I went through the process of applying by emailing her some personal information and a $50 application fee for a soft check. She said I was approved and gave bank account information to send the security deposit of one months rent. After reading up on real estate scams online, I am worried that this might be one. Any opinions? My two schools of thought are why would she go through the hassle of taking 1-2 weeks of negotiating lease terms with me if this was a scam and we did actually get to see the property. However, having never met her and having her send bank account information to send the deposit to, I am worried this may not be legit. [link] [comments] |
| First steps for someone who knows literally NOTHING about home buying Posted: 06 Jun 2020 11:03 AM PDT So, long story short, I grew up VERY poor and nobody in my family has ever bought a home. I have been saving to buy so I can get out of buying, but I am completely clueless. I have tried watching videos and reading information online, but all of it seems to assume people know the basics. In particular, my two main questions are: 1) Do I get pre-approved by a lender BEFORE choosing an agent, or does the agent assist in the lending process once we are working together? 2) How do I choose a lender to get pre-approved with? Assuming they are going to run my credit, I don't want to go through that process multiple times and have multiple inquiries hitting my report, so any help in figuring out where to begin is appreciated. Any additional tips or resources can provide for someone who has no clue how to get started would be much appreciated. [link] [comments] |
| Do multiple homes on a property count as multi-family? Posted: 06 Jun 2020 07:10 AM PDT If the property has two stick-built homes and a manufactured home, is that a multi-family property, or does multi-family imply one building with multiple units? How would this sort of property be appraised--would the appraiser just take the value of the land + each individual stick home + manufactured home, based on single-home properties nearby? [link] [comments] |
| Posted: 06 Jun 2020 10:50 AM PDT We listed thursday night without pictures, pictures went up Friday around 1. Had 4 viewings yesterday and 2 so far today(3 more later). Realtor talked to 1 of the buyers realtors and they are probably submitting an offer. My question is how long do you have to accept an offer? If our first offer was asking price do we auto accept or do we / can we wait until all other viewings have happened? What if people start scheduling viewings for tomorrow? [link] [comments] |
| Question about mislead listing Posted: 06 Jun 2020 10:40 AM PDT We recently saw a house in the 500K+ range, however it had a 3 car garage listed, which was really a 2 car garage because the space that leads to the entry door has stairs, and the main floor is too high that you can't get to the main floor without the stairs so they're not optional. In this situation what is an appropriate amount to ask off the sale price given that it has less garages spaces than listed? [link] [comments] |
| First time seller and offers/counter offer and showings: Posted: 06 Jun 2020 10:07 AM PDT I am a first time home seller and am the type to worry about every little detail. I listed my house for sell on Thursday evening and on Friday I had 5 showings and I got 1 offer this morning. The offer was a low ball offer and I countered hard and do not expect any traction. I will have an open house tomorrow. I am just really worried that after 5 showings yesterday I had zero showings yet today. My realtor and most people I talk to say the house is priced right and it should sell, but no showings today has me slightly panicking. Some questions:
My realtor tells me not to worry it is priced right and will sell but I can not help but worry. If Saturdays are normally a great day to show houses I will be very concerned but if not so great than I will at least calm down a little. The reason I do not take these questions to my Realtor is I know I can be a pain if I keep asking questions and bring up nonexistence problems so I like to find the answers myself online but I could not find the answer to this question. I do this so I can ask the important questions to my Realtor and not drive them insane with stupid nonsense. I learned to do this because my family has let me know I suck when it comes to buying/selling things as I overthink and over worry about it and it is a way for me to reduce other peoples annoyance at it. [link] [comments] |
| Important to talk to mortgage lender in same state that buying? Posted: 06 Jun 2020 09:29 AM PDT Currently live in OR, looking to buy in WA and move there soon. Own a current home in OR which will be rented out, so the home in WA will be 2nd property. I went with a local credit union (First Tech) for the first loan in OR and worked with a mortgage loan officer face to face and over email. First Tech has branches in both WA and OR. Was thinking to maybe use them again for the WA home. In terms of working with a loan officer who pre-approves me and determines how much they are willing to lend, is it important to actually work with someone who is stationed in WA? Or would a loan officer in OR be just the same? Could the pre-approval and approval process be done entirely online and then it doesn't matter at all? [link] [comments] |
| Posted: 06 Jun 2020 09:27 AM PDT We plan on starting an LLC and having each property we invest be another LLC under neath it for personal asset protection. Anyone have anything similar to this? Or think this isn't necessary? [link] [comments] |
| Posted: 06 Jun 2020 08:55 AM PDT This question is coming from a notary who currently does loan signings on behalf of title companies. Right now all 50 states allow for electronic signings in the physical presence of a notary, with some even allowing remote signings. Right now, my state is not one of them. I know that getting those signing packages back to you on time and error free are important for the closing and making sure everyone gets paid. So I was wondering if I, as the notary, could make the decision to complete the signing digitally? [link] [comments] |
| 22yo looking to buy investment property with friend Posted: 06 Jun 2020 08:52 AM PDT I'm thinking of buying a "cheap" ($300,000) investment property with a close friend of mine. We both live with our parents and have saved up ~$45,000 each. We both have stable jobs but they don't pay very well (25k per annum). Neither of us has any outstanding debt. Our parents are happy to house us indefinitely (very common in Australia). About 50% of our income with go towards this our mortgage, and our living expenses only cost us 40% of our income. This is financially feasible, but I'm probably missing something. How bad of an idea is this? [link] [comments] |
| Posted: 06 Jun 2020 08:26 AM PDT Hey all, I bought a house in a highly desirable neighborhood in my hometown. Due to the #1 ranking school being behind my house, value has held up well. I imagine even through the pandemic, it will hold its value if not increase. I have tenants in the house until 10/1/2020. This is when I'd sell my house. I have friends down the street who have asked me a few times over the past year or so if and when I'd ever be willing to sell my house. My friend text me again this am asking if I'm still looking to sell in October, which I am, so long as the market is in my favor. She has friends who have even really interested in my house and my friend asked if she could give her friend my number, to which I agreed. What's the best course of action here? I want to make the most money obviously, but I've heard it's not wise to have buyer-seller interaction? Should I let my real estate agent know? Should I advocate that I won't be doing any deals outside of a qualified real estate agent? It's important to note: I've not committed to an agent. I have 3 good options. 1) Use the agent that I used to buy this house, 2) Use another agent in town who has shown interest, 3) Use the same agent that I would use to buy a house in my city which is an hour away, and he said he'd give me a deal (reduce his take home %), to use him to sell my house and use him to buy my new place. What's the most financially prudent move here for me? What questions should I be asking? What things should I be making known? Thank you! [link] [comments] |
| Are listing agents allowed to divulge dollar amounts of bids to potential buyers? Posted: 06 Jun 2020 08:23 AM PDT I made a bid on a house but was made aware of a bid from another party. We went into escalation clause but I was informed of what the original bid from the other party was. So obviously i raised my bid to more than the other party. Is this even legal? It seems like that would seriously fucking over the other person, since I know what their offer is. The deadline for the escalation has passed and now the listing agent is saying the other bidder didn't even put in another bid and has lowered the offer to the max of my escalation clause. [link] [comments] |
| Posted: 05 Jun 2020 11:36 PM PDT My realtor has been very nice to me and does not pressure me or anything but I feel bad when he sends me homes to look at and I tell him I don't like them. How long is a reasonable amount of time before an agent gets fed up? I don't want to feel like he is wasting time on me because I'm so picky but I'm putting all my money on the line to buy a home. Thank you [link] [comments] |
| Despite Lower Mortgage Rates, Prices fall YoY in King County (Seattle) Posted: 06 Jun 2020 08:17 AM PDT
Optimism for recovery:
But will it last?
Condos look a little rockier than SFH:
[link] [comments] |
| Request for advice for restarting negotiating Posted: 06 Jun 2020 08:17 AM PDT A year ago I was contacted by an out-of-state real estate investment company interested in purchasing my undeveloped property. Their first offer is ridiculous but it was eventually raised to $325k cash. Pricing undeveloped property is difficult, but based on the area properties I saw on Zillow, I felt $400k was fair. If they had offered $350k, I would have taken it. I'm more serious about selling now and contacted them again as well as talked to an area realtor. That realtor, without having the seen the property, said the property is more in the $250k - $280k range maybe $300k. Checking Zillow again (including this realtors properties) that is low so I'm confused. I am contacting another area realtor. Anyways, the investment firm just now confirmed that they are still interested. At this point, I am willing to take $325k cash. My question is how to restart this negotiation? Should I repeat my last ask ($375k I think)? [link] [comments] |
| Posted: 06 Jun 2020 08:09 AM PDT So I told my realtor two days ago that we wanted to put in an offer on a house. Still no word. How long does it take to write up an offer? How do you go about firing a realtor? Any advice would be helpful!!!! [link] [comments] |
| Experiences mortgaging with foreign income? Posted: 06 Jun 2020 08:03 AM PDT Has anyone here been in a situation like this when buying? We are trying to get a mortgage while all of our income is coming from another country (we recently repatriated and still WHM for the same company). That in itself does not seem to be the problem, but there is no W2 we can show for last year, because, well, we didn't get one. We have the tax statement from the other country, we have a copy of our 1040 from when we filed our US taxes; pay stubs, employment contract etc. The first loan officer was stumped and forwarded the case to her supervisor. He tried but then has suggested to work with a mortgage broker that can deal with proper translations and oddball cases like this one. So after 3 weeks of biting our nails we are hoping that the mortgage broker can get this done. We are starting to get nervous and I'm hoping to hear that someone else has managed to do this. Other than the pickle with the forms, we are in a good place, trying to borrow below our means, great DTI ratio, great credit. Our realtor has suggested that scraping up the 20% down to avoid PMI might help, so we are looking into that as well. I'd appreciate any insight! [link] [comments] |
| Indiana First Time Home Buyer Program Posted: 06 Jun 2020 08:02 AM PDT Hi, I'm planning on buying my first home in the next 3-6 months. I live in Indiana and was researching the first time homebuyer programs that offer assistance to those with low to moderate incomes that help with closing costs and down payments. I make 45k, credit score is 737, and have a small chunk in savings. The catch is you have to use a bank that works with the programs. They give you a very long list of eligible banks but most are small and I've never heard of (GVC, Caliber, Loan depot). I started googling some but was just wondering has anyone used these programs and if so which banks did you have success with? [link] [comments] |
| Posted: 06 Jun 2020 07:43 AM PDT I have a contract to buy a 1/8 interest in a farm. It is two tracts, one is 40 acres the other is 60 acres. I know the local school board is looking in the area for a new school. I close in 30 days on my portion. Is there any issue with offering the two tracts for sale to the school system? My partner's law firm serves as general counsel for the school system so I have an in. [link] [comments] |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment