Real Estate: Jacksonville couple sees home appraisal jump 40 percent after they remove all traces of “Blackness” |
- Jacksonville couple sees home appraisal jump 40 percent after they remove all traces of “Blackness”
- Obsessively checking listings
- I give up.
- Does buying a house in Alabama make sense for me?
- Offer accepted - seller now giving extension to first offer???
- NY: Follow up on "Should I Sell My House?"
- Are people buying too much house?
- Triple-Decker Condos (MA, USA)
- First Time Home Buyers, HELOC?
- Seller has unexpected lien on title?
- Question about tax lien purchase
- Self employed mortgage..currently in underwriting.
- Real Estate pre-license class you can watch at double speed?
- Landlord Charges $500 for "cleaning service"! Security Landlord Charges $500 for "cleaning service"! Security Deposit Dispute. Need advice! Deposit Dispute. Need advice!
- [TN] Where to begin on renting out commercial property?
- Purchasing my first home (Cash buyer)
- Do you think we will see 30 year mortgage rates around 2%?
- Brokerage Flat Fees?
- Multiple Mortgage "Dings" on Credit Report for long-term searches? (MA, USA)
- Thoughts on Distributing a Flyer in the Neighborhood We Want to Buy In?
- Large Discrepancy between Purchase Price and Insurance Rebuild Value [WA]
- Study information for MI real estate exam
- First time home buying concerned about the listing being shown to us.
- Question about my old landlords back property taxes
- Difficulty finding land
| Jacksonville couple sees home appraisal jump 40 percent after they remove all traces of “Blackness” Posted: 25 Aug 2020 05:48 PM PDT |
| Posted: 25 Aug 2020 08:44 PM PDT Is anyone else consumed by the house hunt right now? I feel so miserable. I check all the listings over and over and it is sort of obsessive and unhealthy. I feel exactly 50% like we need to wait 6-9 months and just keep saving and jump back in when / if there is a market correction and 50% like this might be the last month we can get into the kind of house we want and need before we're priced out forever. I feel like I need something else to transfer this intense energy into, but I don't know what. [link] [comments] |
| Posted: 25 Aug 2020 09:41 PM PDT I give up. First time homebuyer in LA. Pre-approved, >250k in cash for a down payment. Spent 8 months searching for a property that isn't a dump and money pit but also isn't $1M+ and not 1.5+ hours away from work. Went to dozens of showings. Spent at least 2-4 hours each day on the internet looking at properties and researching other cities within the same county that I might want to consider. Even wrote my own program (I'm a software engineer) that scrapes listings and does my own analysis. With the amount of code I have in it, and the amount of things I learned about real estate throughout the search, I might as well just become a realtor and start my own Redfin/Trulia/Zillow company. I'm done. I'm just sick of it all. I just deleted all my notes, code, MLS accounts, etc. I'm mentally exhausted. Finding a home was my biggest goal this year. I failed. It sucks. [link] [comments] |
| Does buying a house in Alabama make sense for me? Posted: 26 Aug 2020 08:55 AM PDT Hello! Thank you for your help. I'm in my twenties, make around 65k a year, and live in Brooklyn (before the pandemic anyway). My partner of 10 year's father was recently diagnosed with stage 4 cancer. He lives in Alabama. Our plan is to stay here until my Brooklyn job is no longer remote. I will have to go back to it eventually. My partner makes around 40k in Brooklyn, but will not be working and will be taking care of her father while we're here. Any rental I would want to reside in here is around $800+. So I thought about the idea of buying and found a great house, move in ready, right next to a college campus for 90k. The mortgage would be about $450, possibly a little more if I had to get mortgage insurance. We can put 10k down and possibly borrow a bit more to make it 20%. I have no intention of staying in this small city in Alabama permanently, but we will be here on and off for at least the next 3 years (I hope), and it's in a spot where it could easily be rented to a student when we are in NYC. I could, obviously, never buy anything in NYC. Our plan is to buy the house and move into a 1 bedroom in nyc that is $2000 a month as opposed to our $2500 2 bedroom in order to cover the mortgage. My partner will have her job back upon returning to NYC. Are we crazy? The market is Florence, AL and the houses seem to be steadily appreciating each year. It seems like such a huge thing but I think it makes sense! So does my partner. But we are young and dumb and full of grief so I guess I just need a reality check. [link] [comments] |
| Offer accepted - seller now giving extension to first offer??? Posted: 25 Aug 2020 02:04 PM PDT This is a mess, just looking for some advice, information below: Submitted backup offer at the end of July with information that seller had just accepted another offer. My offer accepted first week of August - from my (and my realtors) understanding the first offer was off the table at this time. Since then I put down $1000 earnest money, paid for a home inspection and signed everything with lender. Literally the only things we were waiting for were the appraisal and closing (closing date on contract was second week in September) Now selling agent contacts my realtor and lets them know they're giving an extension to the first offer and we are back on backup if that deal falls through. Can they do this? Can two offers accepted at the same time? Especially being that I am this far along in the process and I've already paid for inspections, etc???? [link] [comments] |
| NY: Follow up on "Should I Sell My House?" Posted: 26 Aug 2020 05:08 AM PDT Posted this 2 weeks ago: https://old.reddit.com/r/personalfinance/comments/i7tuxb/should_i_be_selling_my_house/ Decided to list my home without an RE agent. Calls were coming in hot and heavy, and before the painter was finished, I decided to let an investor come over to look. He made a low offer that would be respectable in a normal market. I said "no," and that the only acceptable offer was the full asking price. He called a few hours later and came up again. I told him I had 5 appointments coming up in the next few days, plus an open house. He then offered the full asking price. [link] [comments] |
| Are people buying too much house? Posted: 26 Aug 2020 09:00 AM PDT Not quantity but rather size, amenities, upgrades, due to lower interest rates looks very appealing. Does anyone see long term implications of families buying too much house than necessary? [link] [comments] |
| Triple-Decker Condos (MA, USA) Posted: 26 Aug 2020 10:24 AM PDT Anyone have experience buying, selling, and living in triple-deckers (or three-deckers in Boston) as condos? Been living in triple-deckers for years as a renter, mainly interested in the condo association aspect especially with so few units/small an association. [link] [comments] |
| First Time Home Buyers, HELOC? Posted: 26 Aug 2020 06:12 AM PDT Thanks for the advice you've all given on this forum - it's been really helpful. My wife and I are first time home buyers and getting caught up in the process. We're in touch with a lender that was given to us by our real estate agent. He's been giving us line item breakdowns on each house we view, but since this is so new to us, we're having trouble interpreting certain items. For example, he includes a HELOC loan in every breakdown. We didn't know what that was, so we looked it up and it sounds like this is basically a second mortgage - some people speak highly of it, some don't. My intuition is that I wouldn't want to start out with my first home on two mortgages. This seems unnecessary, and could potentially lock us into issues should we decide to sell, refinance, etc. down the road. Do any of you have insight into why he may be including this? More context: The loan amount he lists is about (not exactly) 50% of the purchase price, the down payment is 10%, and the HELOC is the remaining. [link] [comments] |
| Seller has unexpected lien on title? Posted: 26 Aug 2020 07:41 AM PDT I heard you can back out of the contract because the seller has title issues. We have $5k earnest money and put $2500 to be release upon acceptance. Will we be able to get it all back? Also I know we will lose the appraisal and home inspection but is there anything else we would have to pay? [link] [comments] |
| Question about tax lien purchase Posted: 26 Aug 2020 09:01 AM PDT My aunt has recently fallen ill and has decided to live with my parents in order to get the care she needs. We have discussed me purchasing her condo which is behind in property taxes. with lien and hoa fees the total is $10,700. I have had the property inspected and had contractors come out and estimate repairs. I just have a question on the actual purchase agreement. I have an LLC in which I do contracting work under, I was wondering if I could use that same LLC to purchase this property? Also, Is there a place where I can get a template of a tax lien purchase agreement? I was going to use a template then have a lawyer review, or should I just leave the drawing up of the purchase agreement to the lawyer? Lastly, if I use the lawyer to help with the document will I need to use a title company? [link] [comments] |
| Self employed mortgage..currently in underwriting. Posted: 26 Aug 2020 08:44 AM PDT My husband and I have a five year old business, bringing in steadily increasing income over the years. Our credit isn't stellar, my husband starting taking a small salary last year, and also distributions from the Corp. (Schedule K?) I'm wondering if anyone has any experience with this and what we should be expecting out of this process. We have submitted all of our bank statements business and personal, tax returns, YTD P&L, 401k and IRA statements. It is very hard to find reading resources for self employed buyers and our sometimes "complicated" situations and I don't want to pester our loan officer to death. [link] [comments] |
| Real Estate pre-license class you can watch at double speed? Posted: 26 Aug 2020 08:06 AM PDT I am looking for a pre license class that is online based that you can watch at varying speeds. I've already done some real estate classes when I lived in CA but moved before the term ended. PA requires 75 hours of class work but I think bc of my past classes I could likely watch it double speed and use it as a refresher while also getting the credit. Can anyone recommend a particular course? [link] [comments] |
| Posted: 26 Aug 2020 10:53 AM PDT As the title states, my landlord charged me $500 for a professional cleaning service upon moving out. I moved in to the apartment and it was very dirty (food, hair, and crumbs in fridge, crumbs in the cabinets and drawers, and dirt and wrappers in the pantry). I have photos of all these. Upon moving out I made sure to make it spotless, and I did a really good job. Basically I left it cleaner than when I moved in, but was still charged $500 for a professional cleaning service that seemed unnecessary. It's my understanding that CA law says that my security deposit can only be used for the cost of cleaning to the same conditions as when I moved in. My lease agreement states that the security deposit can be used to "clean premises, if necessary, upon termination of the tenancy." However, another section states that the "upon termination of this Agreement, Tenant shall:" give keys back, vacate, clean, etc. and lastly a sketchy edited section stating "professionally cleaned: Janitorial and Flooring by a Licensed and Insured Professional" So what prevails? CA law or my lease agreement? Basically can I get my $500 back from my landlord with photo evidence that I left the unit cleaner than when I moved in? [link] [comments] |
| [TN] Where to begin on renting out commercial property? Posted: 26 Aug 2020 10:52 AM PDT My parents own some commercial land on which they want to start earning some revenue. It's one acre lots, and they want to rent/lease it out. [link] [comments] |
| Purchasing my first home (Cash buyer) Posted: 26 Aug 2020 10:46 AM PDT I was planning on buying a home in Netherlands but everything is really expensive here and my income is low so I dont think I can get a bank loan, so I would have to pay for it all from my bank savings. I have looked on idealista and it is much cheaper apartments and villas in Portugal. I'm planning on buying a home in Portugal and wonder what I need to do in preparation. I dont speak any Portuguese so would it be enough if I find a real estate agent that speak english well or should I also get a independent translator? If I get a lawyer for the translations would it get very expensive? Is there anyway for me to know the history of sale prices for homes in Portugal? I dont think Idealista has this function and as far as I can see its the only big site for homes in Portugal. How do I know if my offer is a lowball? Is there a general set of % that is acceptable to offer? Example 90% of original price or 80% of original price? [link] [comments] |
| Do you think we will see 30 year mortgage rates around 2%? Posted: 26 Aug 2020 10:40 AM PDT I bought at 3.5% and at the time people thought it was the bottom, rates can't possibly get lower. Just refinanced at 2.875% and people are again saying it's a record low, things can't get much lower. You think there's a chance of 30 year rates at 2.25% or even lower at some point in the future? [link] [comments] |
| Posted: 26 Aug 2020 10:35 AM PDT I'm looking to buy a house and have started talking to a buyer's agent. She sent over the buyer's agent agreement which basically states 2.5% commission (I feel this is reasonable, but please correct me if I'm wrong). This will of course be paid by the seller (essentially). However, she is also charging a brokerage flat fee of $495 to be paid by the buyer (me) if I end up purchasing a home. Is this normal? If so, is the amount normal? Is it perhaps not common, but also not unheard of? [link] [comments] |
| Multiple Mortgage "Dings" on Credit Report for long-term searches? (MA, USA) Posted: 26 Aug 2020 10:22 AM PDT Applied for pre-approval in May for a place that we ended up not getting. Applied again this week (August) for a place where we were outbid. One credit score is excellent, the second low 700's. We were in waiting, saving and building the lower credit score mode until this most recent option popped up (in budget, beautifully maintained, had all our wants & needs). Will this most recent hard pull set us all the way back to where the lower credit score was after our first offer? How do people doing long searches deal with pre-approvals and the hard hits on your credit? [link] [comments] |
| Thoughts on Distributing a Flyer in the Neighborhood We Want to Buy In? Posted: 26 Aug 2020 10:21 AM PDT [Denver] We have been trying to buy a new house for almost a year now and have found a specific neighborhood that we want to purchase our forever home in. This neighborhood has very few listings, and those that do come up generate enormous interest. There have only been 3 listed in the past 8 months and we lost the bidding wars unfortunately. We have been suggested by multiple people to try and distribute a flyer to the houses around the neighborhood explaining our situation and who we are and that we are looking to purchase if anyone is planning on selling anytime soon. We aren't looking for a deal price wise, and are aware and willing to pay over appraisal value. Just hoping to try and get a jump on possible listings/develop a relationship with the sellers so we can finally lock a house down. My question is, has anyone done this before? Would you recommend it? I understand the market is crazy right now and it's a bit unprecedented, but if anyone has thoughts I would appreciate it. [link] [comments] |
| Large Discrepancy between Purchase Price and Insurance Rebuild Value [WA] Posted: 26 Aug 2020 10:14 AM PDT So we just opened escrow on a new construction home and are currently within our inspection contingency window. I know insurance rebuild prices are almost always below the home cost, but this one seems too low. The home price is ~$3M. Insurance Rebuilt estimates are all coming in right around $1.2M. Based on past sales records, the land was worth ~$1M 2 years ago. This gives us a $800k difference between the purchase price and Land + rebuilt value. Should we be concerned? Is this a glaring red flag that we're overpaying or does it sound normal with homes in this price range? FWIW, we are below asking and below other offers on the house (but with better closing terms). [link] [comments] |
| Study information for MI real estate exam Posted: 26 Aug 2020 10:04 AM PDT I finished the class almost 3 weeks ago at this point. LARA was shut down until the 25th. Now I can apply and take the exam but I feel I've forgotten a whole lot. Does anyone have any good study tips or guides (preferably free) that I can use before going to take the exam? My life has been a sh!t show lately. Im currently dealing with home insurance as my home sustained some fire and smoke damage from my neighbors fire and trying to get in-home hospice care for my dad so thinking about the exam has fallen to the wayside. But I really need to study and get my license! Thanks for reading and any advice you can give. [link] [comments] |
| First time home buying concerned about the listing being shown to us. Posted: 26 Aug 2020 10:02 AM PDT So our agent was recommended to us by our loan officer. We thought we'll try her out. We talked to her on the phone and explained to her want we want, our price range, but are very understanding and willing to compromise since we don't have the biggest budget, but big enough of a budget for where we live. Where the average how price is 100k. After we tell her what we want she basically said, we must compromise on everything. Then she said she would set us up a Zillow-like MLS listing program. Which I'm not a fan of. For the reason being, she put 20 homes on there, all of them above our price range and all of them, for lack of better words are dumps. Now before you say we can only afford a fixer upper, please let me state that on another realty website there are plenty of house that aren't dumps in our price range. Now, my hatred of these map thing. I thought a realtor would listen to what we wanted and then send us the actual listing and it's pictures, not make us search on this map(which is not really designed nicely and frustrating to use) through the twenty houses she picked out for us, if I want to look at more than the ones she picked out I have to back out of her filtered search and search on my own. Why is she failing to show us houses that meet our criteria, price range, that we like and only showing us house that we already stated we wouldn't want? Do you think she is the maybe the listing agent for these houses she is showing us? Also, not listening to us about the price range. It was a complete disregard. We need to stay strict, because the idea behind getting a house was to not pay as much as we pay in rent right now. (Which is totally doable I'm researched vigorously) what do y'all think? [link] [comments] |
| Question about my old landlords back property taxes Posted: 26 Aug 2020 09:38 AM PDT Hi, I used to rent a condo from a man who was bad with money. It was not actually his condo, it was his father's, and he'd never transferred it to himself. He has since quit paying property taxes on it. The 2016 taxes were paid, but the 2017 taxes were sold and the 2018 are registered as "subsequent tax sale" and I'm assuming they'll be sold in November. He's missed the first annual 2019 installment as well so he's completely given up on it. He might have even died too, he was in terrible health. I'm interested in getting ownership of this property. He was willing to sell it to me very cheaply until he found out how much work he'd have to do to get it transferred to his name from his deceased father's. My question is mostly about how the foreclosure process works in illinois. I know people now have tax liens on it, and the HOA probably hasn't been paid either. Will it eventually go to a deed sale? Is there any way to get it before then? Since no one who is alive owns it, how would the process work for obtaining a deed? Ideally I'd love to just talk to the owner and offer low cast alternative to full loss but they're dead, so I can't do that. [link] [comments] |
| Posted: 26 Aug 2020 09:36 AM PDT Hi there, [link] [comments] |
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