Real Estate: Is downgrading home for a better location worth it? |
- Is downgrading home for a better location worth it?
- Just an update to a previous post about installing central a/c and home value
- Virtual Staging
- Is talking to multiple lenders like talking to multiple real estate agents when buying a house? Or is it more acceptable?
- Post-dated rent checks
- Modular Home Question: Has anyone here built a Modular home in Massachusetts?
- Sales commission for a remote sale
- Any reason not to trust realtors suggested inspector?
- Deep Dive into real estate
- Is now the worst time to buy? Will it pass?
- Buying New Construction
- Construction at apartment: ask for pro-rated rent?
- Inspection request list for home with solar panels
- HVAC company never fixed my radiator. Do I pay them?
- Agent commission if there's no buyer agent
- How to interview find a good realtor
- How do I get started in real estate with $10,000
- Divorce logistics
- I need help from real estate agents.
- No Such Thing As a Free House?
- Books for beginners
- After death of father-in-law, now Buying or Refinancing mother-in-law's house. Which one should I do?
- [NY] Help calculating prepaid interest
- Who is buying the suburban $750k+ homes? (MA)
| Is downgrading home for a better location worth it? Posted: 14 Jan 2021 04:44 AM PST Currently living in a 5 year old house built in your typical new suburbia subdivision (houses on top of each other, made of vinyl and sticks with a little bit of stone here and there) in a growing town on the outskirts of a bigger city (30-40 mins to downtown), but considered to be 'out there' by some. We do love our current house (we recently completely remodeled the kitchen [but that's also a big reason why we could walk away with good equity]). We love the little town, but our work commutes suck and we feel like our home value will eventually be capped due to a) suburbia house and b) being on the outside of the bigger city limits. We've come across the opportunity to move to a house with an amazing location in the heart of an area that's considered to be the best in the bigger city (about 35 mins north from current house). It's a 40 year old house with charm that has been remodeled, and not much immediate work would even be needed besides window replacements. Great neighborhood. 5 minute work commute. However we'd be losing about 300 sq ft of living space (2200 vs 1900) and a garage. It's an older house so I feel like repair costs will be inevitable over time. Anyone done anything similar to this? Any regrets? [link] [comments] |
| Just an update to a previous post about installing central a/c and home value Posted: 14 Jan 2021 08:15 AM PST A few month back i made this post and just wanted to give an update. I just had central air installed for $13k. They put the unit in my walk up attic and put vents to every bedroom and the first floor. They used about a sq ft of space in one of my walk in closets to get the ducts to the first floor. My home is now worth 20k more than 6 months ago :) essentially i got dollar for dollar what i put in and now we have a much larger group of potential buyers who will consider home. A lot of people were saying to me it'd cost up to 40k and just wanted to inform people that it's not prohibitively expensive to modernize 100+ year old homes. [link] [comments] |
| Posted: 14 Jan 2021 07:50 AM PST Hello! Do you know of any Virtual Staging software that is inexpensive and effective? I want to add some flair to my listings. Any suggestions would be highly appreciated! [link] [comments] |
| Posted: 14 Jan 2021 08:31 AM PST Happy Thursday everyone, Ive learned that having more than one agent most of the time feel like going behind their backs and quite understandable unless they're being very incompetent. Long story short, they don't like it. However is this the same with lenders? I'm sure when they pull my credit report they'll see other lenders too. [link] [comments] |
| Posted: 14 Jan 2021 10:41 AM PST I am currently renting a house at college. At the beginning of the school year (August), I wrote 9 post-dated checks for rent each month that the landlord generally cashes the 1st of every month. The second semester is coming and there are 4 months left on the lease. Since he has all the checks, I understand that they are his property and he can cash them at any time. For the ease of budgeting, it would honestly be nice for the last 4 checks to be cashed at once as a lump sum. Right now as a college student I'm paying for a million different things and it would be a relief just to pay all my rent for the rest of the school year and not worry about it. I'm admittedly naive when it comes to real estate. Would this be an unrealistic request for my landlord? [link] [comments] |
| Modular Home Question: Has anyone here built a Modular home in Massachusetts? Posted: 14 Jan 2021 10:15 AM PST My fiancé and I are looking into buying land and then building a modular home since we had a bad experience trying to do a traditional mortgage last year. Has anyone ever been through this process and can share their experience or do/donts? [link] [comments] |
| Sales commission for a remote sale Posted: 14 Jan 2021 10:13 AM PST My mom passed away a few months ago and my sister and I are preparing to sell her home in Maryland. We both live out of state and can not travel due to Covid. We've found an experienced agent who sells lots of homes in my mom's somewhat unique neighborhood. There is some work needed to prep the house including painting, floor refinishing, and emptying the house (lifetime's worth of stuff). Our agent will have to manage most of this work since my sister and I can't be there in person. Given all of the above, our agent is asking for a 6% commission. This would be split - 3.5% for her and 2.5% for her broker. This does not include the buyer's commission. This seems high to me. What is a reasonable commission rate for a remote sale these days? [link] [comments] |
| Any reason not to trust realtors suggested inspector? Posted: 13 Jan 2021 08:41 PM PST Hi! First time home buyer, was curious if there's any reason not to trust our realtors suggested inspector? We like our realtor and don't necessarily distrust her, but was curious if people find a conflict of interest could arise if they have a relationship and obviously she wants to close the deal. Thanks for your help! [link] [comments] |
| Posted: 14 Jan 2021 10:09 AM PST Hi, I'm 18 years old who lives in Georgia and still in high school. I want to get into real estate, become a agent and eventually down the line be able to own and rent out places of my own. Can you tell me the run down of everything to get me started and we're to go from there [link] [comments] |
| Is now the worst time to buy? Will it pass? Posted: 14 Jan 2021 10:03 AM PST I have a home I bought a couple of years ago. It's a bit too small for my husband's comfort. Also doesn't have a garage which we both want a secure place to park out cars. I don't want to sell it though because it's about 7 minutes from Downtown, great location, and I feel really lucky to have it. So I'm planning to rent. We started looking together in late November. Things have only progressed to get more and more ridiculous. November we found an AMAZING house that had been on the market 75 days. We had our realtor draw up an offer for asking price, and the seller told our realtor it sold the day before we looked at it. I was really annoyed, but we moved on. Since then there have been MAYBE 3-5 good houses hitting the market per week (this is in Austin, TX) and each one enters a multiple offer situation, best and final, etc. It started with the multiple offers, then after a couple of weeks suddenly every seller wants an appraisal addendum, which is fine. We have the cash to cover a pretty good appraisal gap and still be 20% equity. Now, houses are starting to ask for buyers to waive their option periods too. Every house we've even inquired about the past two weeks said buyers are waiving option periods. I'm not here to complain about the state of the seller's market, or to debate supply and demand. I understand these things very well. What I'm curious about is in markets that have taken off in the past (Bay Area, NYC, Chicago) if they reached this point, and it passed at some time? I'm weary about buying a home with no option period. I'd rather just relocate to a more sane location. I could be living in a 3000 SQFT home in Montana on 10 acres for the price of a shared lot 1200 sqft home 10 minutes from downtown Austin. While I don't expect prices to go down I'm simply asking if in the past once these things like appraisal addendums and option period waivers came into play, did they ever go away? [link] [comments] |
| Posted: 14 Jan 2021 10:00 AM PST Fiancé & I have been getting frustrated with the home search trying to buy an older SF. It seems as though a new construction condo/townhome would be a good way to avoid the bidding wars of all these other properties. We don't plan to stay long term, wondering if a new construction condo/townhome is a good investment for first time homebuyers who plan to sell in around 5 years. They seem very cheap compared to other properties, don't quite understand why the new constructions get so much less attention. This particular unit would be ready in about 6 months. Any advice on ROI would be great! [link] [comments] |
| Construction at apartment: ask for pro-rated rent? Posted: 14 Jan 2021 09:57 AM PST
So I have a open kitchen, living room and a mezzanine area. The skylight is in the mezzanine, where I have my home office and some workout stuff (indoor bike) They said they needed me to move all my stuff out of the mezzanine and move everything out of the way in my living room for a day while they did the skylight (needed both inside and outside access) I said no problem. Unfortunately it's taken way longer. We're 7 days in and I've had a hole in my roof the whole time. No insulation just boarded up at night when they work in the roof. Still debris everywhere and no skylight in yet. Kitchen, living room, and (obviously) the mezzanine is unusable (debris all over from roof work and like 40 degrees because some of roof is exposed ). I work from home so it's a pretty big disturbance. Luckily my heating is separate so I have it in my room and bathroom and can work out of my bedroom. All that said, seems like it'll be 9 days before I can get back to "normal" (regain full use of the other 75% of the apartment). I pay around $65 a day to live here. Is it unreasonable to ask them to pro-rate rent for the month of about $550? Again, i pay my rent every month on time or early and never ask/complain about anything. Pretty ideal tenant imo. If it was a one day thing I'd never mention it but were coming up on a third of the month where 75% of my apartment is un-usable at no fault of my own. [link] [comments] |
| Inspection request list for home with solar panels Posted: 14 Jan 2021 09:54 AM PST Can you include in your list of items to have fixed, for the seller to remove the panels and install them on their new home? If they're allowed to per their solar PPA contract? [link] [comments] |
| HVAC company never fixed my radiator. Do I pay them? Posted: 14 Jan 2021 09:53 AM PST Hey All! I have a tenant who has been complaining that one radiator isn't functioning in her house. After hiring 2 different handymen to fix it, i decided to spend the extra money on hiring a company that deals solely with HVAC. Each time they visited they informed me of a problem and then a solution which they would have to come back to perform. It has been approximately 4 visits now and the radiator still doesn't work. They have quoted me at $800 for their efforts. The only documentation between us was an invoice for $500 after the first visit. Since he had to return he quoted me at $800. They are revisiting the house today to do a test on the radiator but I believe they are going to inform me that I need a new radiator. Would love some advice on how to move forward with these guys. I recognize that they have come and performed some work (insulated a pipe, cleaned the radiator out), but if the radiator still doesn't work, what is the next step as for payment? Appreciate the help! [link] [comments] |
| Agent commission if there's no buyer agent Posted: 14 Jan 2021 09:38 AM PST When I listed my home, we agreed upon a 5% commission. I received an offer where the buyer is without an agent, so my realtor states the commission will be dropped to 4%. Is this correct? Trying to understand why the commission doesn't drop to 3% given its a 50/50 split. Thanks! [link] [comments] |
| How to interview find a good realtor Posted: 14 Jan 2021 09:32 AM PST Hi I was wondering what everyone's techniques are for finding a good realtor? I have been having a hell of a time finding a good one in el dorado hills in California. A lot of people looking for a quick buck with little to no will to helping with competency. [link] [comments] |
| How do I get started in real estate with $10,000 Posted: 14 Jan 2021 05:37 AM PST Don't know anything about real estate really only have a 600 credit score and working on improving it because I heard that's important. I was thinking something along the lines of rent out the cheapest property I can get on air bnb but I don't know how to go about this . I'm also open to other real estate business plans seeing as I don't have a clear one and I heard this field has a lot of options . Main goal is to turn that $10k into a consistent long term source of income as fast as possible to make the first step towards financial freedom. So where do I start ? [link] [comments] |
| Posted: 14 Jan 2021 09:02 AM PST I wanted to figure out what the most efficient way of transfer over the property title / mortgage to my ex. Here is what i'm thinking my options are but please advise if you know differently! thank you
I'll likely end up trying to hire someone to help with the process but want to at least know who to ask / have an idea of options. Right now, i'm kind of clueless. Do i need a lawyer to help with that? Can i hire a title company to help with this paper work? thanks in advance! [link] [comments] |
| I need help from real estate agents. Posted: 14 Jan 2021 09:01 AM PST I'm only in my sophomore year of high school and am not sure if i want to be a real estate agent or a software engineer. One needs college and one doesn't. I like the idea of making my own schedule. I also plan on investing in real-estate. I live in Maine so I'll have to move to a different state if I want to be successful. FYI you can ask any questions What should I do? Where should I move if I become a real estate agent? Is it worth the risk? I have the drive to work the long hours to become successful. My uncle works in real estate and other things and is worth 30 million so he could help me. [link] [comments] |
| No Such Thing As a Free House? Posted: 14 Jan 2021 08:55 AM PST I work in distressed real estate and also dabble in rooting out corrupt politicians and occasionally the worlds collide. In my work in distressed property we have issued $1 deeds occassionally, but I can tell you each of those stories. In my hobby, I have encountered a regular real estate agent issuing a $1 deed on a Fannie Mae pickup. It was a livable house. The family moved right in. And in a neighborhood with an existing and improving real estate market. Are there reasons for an agent to do this that I am unaware of? [link] [comments] |
| Posted: 14 Jan 2021 08:44 AM PST What resources would you recommend to learn more about real estate? [link] [comments] |
| Posted: 14 Jan 2021 08:44 AM PST So long story short my FIL passed away and left MIL with no money at all. She doesn't work and will be leaving from SS back in Puerto Rico where she owns a house. She can't afford this house which owes 194000 and she just wants to sell it to her daughter without gaining anything. House value is probably 210000 so we offered her to sell the house to us at that price but she wants her daughter to at least inherit something from her dad. Would it be better for us to buy the house for 210000 and do a gif of equity or do a quit claim deed and refinance? We want to take advantage of the historically low interest rates. Our credit scores are excellent and we plan on living on this house for 10 or 15 years. Thank you [link] [comments] |
| [NY] Help calculating prepaid interest Posted: 14 Jan 2021 08:44 AM PST I closed on a house a few months ago, and I'm trying to understand some of the closing costs on my final loan statement. My loan amount is $260,000. My interest rate is 3.000%. I closed on 10/16/20, so I owed prepaid interest from 10/16/20 until 11/1/20. My final loan disclosure says my prepaid interest amount due was $21.67 per day, and I'm wondering how that is calculated... A quick google search reveals that prepaid interest is calculated as follows: Daily interest rate = Annual Interest Rate (3%) / 365 Daily interest rate = 0.008219...% (As a fraction, that's 0.00008219) Then multiply that fraction by your loan amount: $260,000 * 0.00008219 = $21.37 per day. So where did my loan statement get that $21.67 daily prepaid interest amount from? Am I doing something wrong in my calculation? My attempts to reconcile the difference: 1.) My first thought was that it was a rounding issue, but I don't see how that could be the case... The only place where rounding could come into play would be that daily interest rate. However, in order for the daily prepaid interest amount to work out to the amount on my loan disclosure ($21.67), the daily interest rate would need to be .00008335 and there's just no reasonable way to round .00008219 up to .00008335. 2.) My next clue came after the realization that 2020 actually had 366 days, not 365. However, if that's the case, then it would bring the daily prepaid interest amount that I calculated even lower - so we're getting further away from the $21.67 per day stated on my loan disclosure. I'm wondering if maybe for the purposes of this calculation, I'm using the wrong loan amount...? Should I be including any closing costs in my loan amount for the purpose of this calculation? [link] [comments] |
| Who is buying the suburban $750k+ homes? (MA) Posted: 13 Jan 2021 01:33 PM PST This question is mainly to agents and lenders. Who is buying these $750k suburban homes outside cities in the Northeast? As a household we make over $200k/yr, and while apparently it's around the 90th percentile for households in America, everyone else outside of Boston seems to be earning a lot more than we do because the majority of homes for sale in the nice suburbs are 3/4 of a million dollars. Im not bitter (seriously-we live well and save a lot), but I'm wondering if most people buying these homes are making a lot more than us or living way beyond their means. What are you observing these days? Edit: just want to be clear—we do not have a budgeting problem. The point was that I just don't know who is buying these properties or how they're doing it if we're making more than most people. Even in my current very affluent town with one of the best school systems in the state, we're way way above the median for household income. [link] [comments] |
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