Real Estate: BEST description ever of a of fixer-up/needs-work property. "Here it is, literally the worst house on the street" |
- BEST description ever of a of fixer-up/needs-work property. "Here it is, literally the worst house on the street"
- Why do so few listings for rental/sale have floorplans?
- I'm living the best case scenario version of 2020/ 2021 and I STILL can't keep up with this market.
- The amount of SFH being swallowed up by investors and turned into permanent rentals is seriously depressing.
- A tip for buyers struggling to find homes in this market..
- Over a year ago I made a post in this sub and it finally become a reality!
- My agent said.......
- Should one buy a home in this crazy market?
- Is it the right time to buy a new house?
- For recent buyers, what did you end up having to compromise on to get a house in this market? How far is it from your original needs/wants list?
- Offer over asking price rejected with no counter
- What to Know before Renting a 2BR before having a second roommate?
- How is the market now than it was this time last year?
- Unlicensed with an interview to become an agent
- Los Angeles - Making an offer for a house with a junior ADU that doesn’t have the permits on.
- Frustrated first time home buyer - montgomery county maryland
- As s first-time home buyer, it wiser to wait until inventory levels go up again?
- Rural Properties Not Selling for Six+ Months
- Certificate in Property Finance and Investment - by RICS, UK. Is it worth it ?
- Investor loan vs conventional on first home
- First time home buyers seeking advice from Home Owners/Realtors
- Townhouses vs duplex
- Mutifamily Syndication
- Inspection Negotiations
| Posted: 15 Feb 2021 04:40 AM PST WOW, this listing agent is amazingly articulate in their description of this property. Full cut and paste in comments from the MLS listing. [link] [comments] |
| Why do so few listings for rental/sale have floorplans? Posted: 15 Feb 2021 04:08 AM PST I don't even mean professional grade floorplans, even a basic sketch. I don't know if it's something that I just feel way more strongly about than others, but I'd rather have a hand-drawn floorplan than even 50 photos of blank walls and hardwood floor that are impossible to distinguish from every other place (and I really don't care about your furniture, since it won't be there when I'm there). Is there some liability reason or something that agents / landlords wouldn't want to even just sketch up a basic layout? Is it some attempt at a sales tactic to get the potential buyer/tenant to come see the property? Just laziness or no one cares as much as I do about the floorplan? Apologies for the mini-rant, it's just something that has always bugged me and is popping back up again as I look at places to possibly move to. Edit: typo [link] [comments] |
| I'm living the best case scenario version of 2020/ 2021 and I STILL can't keep up with this market. Posted: 14 Feb 2021 01:39 PM PST My partner and I started looking for our first house a year ago - it was a little bit before the pandemic hit and we were not driven to house hunt by COVID, it was just the right time - we finally had a good downpayment saved up (about 15% of our planned max), kiddo #1 was getting bigger and we were thinking about kiddo #2. In the time that's passed between then and now we've been fortunate enough to improve our financial situation - we increased our income by more than 20% (I got a big promotion / raise and started some side work), doubled our downpayment in savings (thanks to the added income, and we're also saving more aggressively), and increased our planned max for the house by about 20% (because we have a bigger downpayment and better income). We've also gotten more and more aggressive with our bids, waiving contingencies, offering better terms, etc. Even so, we've lost on 7 different houses. We are a best case scenario for 2020 / 2021 chaos (kept our jobs, and even improved out finances pretty drastically) and we still can't keep up. We are trying so hard to get ahead and we're getting nowhere. I feel pretty hopeless. And if we can't do it with all of our hard work and all of our luck, who can?! Venting and sending some solidarity to the other hardworking first time househunters. [link] [comments] |
| Posted: 14 Feb 2021 09:13 PM PST Everywhere I look at sold listings, so many affordable, small SFH are being purchased by LLC's and turned into permanent rentals. This is doing so much damage to housing supply and really further erasing the chance that lower income individuals can enter the housing market and build equity. A family with a combined income of 60-70k should at least have a fighting chance at getting a home sub 200k, but they are all being turned into long term investment/cash flow streams for already-rich individuals. I have coworkers that own 5-10 properties - all potential SFH - that will now never be in the hands of those who need it most - all because they were fortunate enough to have the capital first and swoop in. There should be laws against this. [link] [comments] |
| A tip for buyers struggling to find homes in this market.. Posted: 15 Feb 2021 05:56 AM PST Think outside of the box! If you know what city you want to buy in, search for a local Facebook group (specific to the city), join it, and post that you're planning to relocate to the area and are looking for any off market properties/ask if anyone is getting ready to sell their home or knows of someone that is. I did this a few weeks ago and I was blown away. I had 8 different off market properties presented to me in my inbox. I figured I'd share with you guys, just incase it can help someone. Good luck everyone! [link] [comments] |
| Over a year ago I made a post in this sub and it finally become a reality! Posted: 14 Feb 2021 06:08 PM PST Back in 2019 I made a post in here asking what I needed to do in order to obtain my Real Estate License. You can see that post here One person commented to just not even bother getting into Real Estate and he shared the common mindset of almost everyone in my family. A lot of people in my circle family and friends told me that I shouldn't even attempt real estate because you're not guaranteed anything, you only make money if you sell a house, it's very competitive and all of that nonsense. I am ashamed to admit that I did give into my family with this and I decided I wasn't going to do it and I was just gonna start studying business at my local community college. Well when it came time to enroll for that semester I wasn't able to do all the requirements in time so I didn't end up getting in that semester as originally planned. It was also around this time I met my amazing girlfriend back in April of 2020 and were still dating and going strong now, we got an apartment we're moving into together on February 25th (we currently live with our parents so this is a huge change for us) We are also pregnant with our baby having a due date in August. Anyways, the time came again for me to enroll in the fall semester this was my second chance to get into college and start studying business. I never really wanted to go to college but it's what my family wanted me to do so I was going to go with it. But in the back of my mind I still knew I wanted to study real estate and get really good at it. So I told my girlfriend about it back in September of 2020 and to my surprise she fully supported me and backed me up on it and she pumped me up so much that I signed up for the online courses that same night. I am so incredibly grateful for her because had it not be for my amazing girlfriend I'd probably would've caved in and did what my family and friends wanted me to do and I'd be stuck doing zoom calls for genera education credits in college right now. But instead I ended up taking my course starting in September and I finished them in November. Unfortunately, due to covid reasons I was unable to schedule a exam for like over a month. My exam was in the first week of January and I passed the state portion and failed the National. But I scheduled to take the National again and I had to wait 3 more weeks again. I failed the National again. This didn't discourage me to stop. This encouraged me to work and study harder and I went in for that 3rd time on February 6th and I passed that exam. I got in touch with the agent I've been talking too throughout my process and I got enrolled with Keller Williams that very next day. I now got my real estate license, I'm officially a REALTOR® and in with one of the top performing brokerages in my area and I couldn't be more proud of where I came from. I would first and foremost love to thank my amazing girlfriend who encouraged me to follow my dreams and get my license and she kept me pushing me through all the failures. I wouldn't have been able to do it without her love and support. I would also like to thank the member of this sub Greg, who helped me and guided me to my first steps into getting the education I needed for the industry. If you're reading my story and you're even thinking a little bit about becoming a Real Estate Agent... STOP! DO IT! I'm 19 years old, my girlfriend and I are moving in together in just over a week and I just got my license. ANYONE can do this if you work hard enough and have the right people supporting you. I encourage everyone to follow their dreams no matter what they may be and surround themselves with people who support their dreams. If you dream does happen to be Real Estate - PLEASE do not hesitate to contact me by just shooting me a message, replying to this post or anything. I can help you with any questions, concerns you have. I can help you get affordable education and I can get you in with the top performing brokerage company in the world all you gotta do is take that first step and message me. LIFE IS AMAZING THANK YOU ALL 😁 [link] [comments] |
| Posted: 14 Feb 2021 07:12 PM PST Currently looking for a new home in Central Texas (Austin) and like many others have had several offers rejected. no inventory of course is the main culprit and I'm told if I walked into a builders office today and said I want to build new, their response will be Okay great it will be sometime in 2022. So my agent is now telling me lets let everything go for a few months come spring there will be a shit ton of homes on the market. I'm thinking Hmmm I dont know about that. Anyone agree with my agent? I'd love to hear from you [link] [comments] |
| Should one buy a home in this crazy market? Posted: 14 Feb 2021 03:40 PM PST My apartment lease is about to expire. So, I was thinking of buying a home vs rental as the mortgage is low. So, I went ahead, and did some tours only to find out that home prices have skyrocketed in Seattle. In fact, the agent is saying to escalate by 15-20% on the listed price. Following is the typical scenario: Zillow Market Estimate: 800k Agent Estimate: 875-900k (for winning the home) Zillow Estimate based on recently sold homes: 700 -750k (more on 700k end) On the other hand, the rent on my unit has gone down from $3k to $2.6k per month. Given home prices are going up; 10-15% decline in rental seemed a bit crazy. I downloaded some data on home values and rental values from Zillow. Since COVID; rental values have gone down, and home prices have gone bonkers. This trend is across Austin, SF and Seattle. Data: https://imgur.com/a/jQZHkgm Looking for the forums feedback on the following:
[link] [comments] |
| Is it the right time to buy a new house? Posted: 15 Feb 2021 06:44 AM PST Hi there. Hoping to get some advice here. I am trying to buy a new house soon. The mortgage rate is low but at the same time housing prices have skyrocketed, almost everyday they're going up. I am kinda worried that this may be a housing bubble and the prices will go down once the interest rates start creeping up. I know that timing any market is almost impossible but any thoughts/ suggestions from the pros would help. [link] [comments] |
| Posted: 14 Feb 2021 01:50 PM PST Searching for a dream house but settled for a starter? 1 bath instead of multiple? Location? Got what you wanted but waited/upped the price a bunch? Any regrets so far? Or things you decided were not worth giving up? For myself: - One thing I have now decided I won't budge on is having 2 bathrooms. As much as a realtor will tell you it is easy to add this or that, I am looking in a city with difficult permitting and older homes which makes it much more difficult and $$$. If a house has only had one bathroom for decades and decades, there is sometimes good reason [link] [comments] |
| Offer over asking price rejected with no counter Posted: 14 Feb 2021 07:11 PM PST First time homebuyer looking for advice. :) A property was on the market for $300k. We moved quickly within the first day it was on the market offering $320k with an escalation clause of $5,000 over any competitive offers up to $350k and $15k in earnest money. My down payment is 3% as I am a first time homebuyer and wanted to buy a place without investing too much upfront. I agreed to an appraisal bridge to pay the difference if the property comes in lower than my bid. They also wanted 60 days possession after closing which I agreed. I then sent a letter to the sellers believing that might help win the deal as they had multiple offers. My offer was rejected with no counter. There was no call for best and final offers and my highest offer would be up to $355k with a Pre-approval letter in hand. Trying to understand why a seller would reject this offer with no counter and how could I have done better to close the house. Thanks in advance! Edit: Thanks all for the incredible advice! As a first time buyer I value the opinion from sellers as it helps to understand different perspectives around motivations so I can put in a stronger offer the next time around. :D Edit 2: The property was won out buy a buyer that had a high escalation clause, high appraisal shortfall guarantee and also a decent down payment which we suspect was 20%. This made their offer the perfect combination of all three. They also preferred the other buyer because they used a local mortgage lender. When I know the price it sold for I'll share another update as requested. [link] [comments] |
| What to Know before Renting a 2BR before having a second roommate? Posted: 15 Feb 2021 08:37 AM PST My boyfriend's friend just backed out of moving in together but my BF wants to move now. Someone suggested that instead of looking for people who are renting out spare rooms, he could lease a 2BR and be the person to rent out a spare room. We're in Brooklyn so he shouldn't have TOO difficult of a time renting out, even during covid. He wants to make sure he's fully prepared to do this, so aside from making sure he has the $$ to pay the lease if no one rents the room, is there anything else he should know or look out for? Such as, should he fully furnish the apartment before renting it out? We're 25 and pretty new to all of this. [link] [comments] |
| How is the market now than it was this time last year? Posted: 15 Feb 2021 08:34 AM PST |
| Unlicensed with an interview to become an agent Posted: 15 Feb 2021 08:28 AM PST Hello! I am in the process of obtaining my license through the CE shop online (NY). I have also been applying to brokerages that assist in obtaining your license. I have been contacted for an interview by a brokerage that does 1-1 mentoring and free training. I have 2 questions:
Thanks for any advice!! [link] [comments] |
| Los Angeles - Making an offer for a house with a junior ADU that doesn’t have the permits on. Posted: 14 Feb 2021 10:38 PM PST Seller converted their garage into an ADU without telling the city. Has its own bathroom and kitchen. First time buyer. What is your advice on this? It would be nice to have something for short term rents but no clue on the permit process after something's already been done, if the ADU is compliant, or what exactly would happen if what they did isn't allowed or needs more money for it to be compliant. EDIT: The plan was to have the inspector look at it and see if they anything that needs to be changed. Still, even if they say anything is theoretically all good, that's not the same thing is it actually being compliant. [link] [comments] |
| Frustrated first time home buyer - montgomery county maryland Posted: 15 Feb 2021 08:19 AM PST Hello , I am first time home buyer , trying to buy a house in this crazy market. So far I liked three house . First house was listed for 370k we offered 395k but didn't waive the inspection and it went to some one who put offer of 393 k with waving inspection n may be some other benefits. Second house was listed for 453k , we offered 478k with waving inspection and appraisal contingency. We didn't get it. Third house was 445k , offered 480k , it sold out for 505k. I think I tried enough with paying premium over the already high asking price. I am renting right now . I have cash available even the interest rates go high I will be able to buy house. Question is are people getting the benefits of low interest rates by paying high house price ? Is it a good deal? Why every one is rushing to make equity during the seller's market ? Do every one think housing price keep going up , what about affordability of average people as 70% people work in service industry and making average salary? As renter I am throwing money, how? For first 8-9 years mortgage will be towards interest not capital even if I start after 1 year what difference it will make ? Should I take it slow or become more aggressive n throw money for the property? I am not expecting crash but thinking the craziness will slow down around summer. Your thoughts please ? [link] [comments] |
| As s first-time home buyer, it wiser to wait until inventory levels go up again? Posted: 14 Feb 2021 08:44 PM PST Obviously, there are many reasons why prices are going crazy right now. Low inventory is one of them. This raises the question whether it's just a really bad time to get into the market and waiting for inventory to go up again is a better strategy. Any insights/thoughts on that? [link] [comments] |
| Rural Properties Not Selling for Six+ Months Posted: 15 Feb 2021 07:59 AM PST Hi, I live in rural Virginia, and in my area, there always seem to be lots of houses sitting around on the market. Many of them are listed for a minimum of six months, many of them more than a year, without any significant price changes. Lowball offers are never even considered. I realize that the crazy housing market in other areas causes people to believe that they can ask high prices for anything, but I'm wondering how long people can realistically wait to sell these properties. Many of the houses look empty. Granted, there was a slight uptick in sales at the end of 2020 (like everywhere else), but not significant compared to "hot" areas. There are still plenty of seemingly empty properties sitting around. Is this a phenomenon that is limited to my area, or are all rural areas seeing this? [link] [comments] |
| Certificate in Property Finance and Investment - by RICS, UK. Is it worth it ? Posted: 15 Feb 2021 07:54 AM PST I am thinking of doing a property financial course, hoping it will open door to get into an Asset Mgmt firm. Anyone has taken this course? what is your thought on this? [link] [comments] |
| Investor loan vs conventional on first home Posted: 15 Feb 2021 07:36 AM PST Hello friends, I need your help! I'm a in extremely unique situation and would like to make the best out it. I'm a first time home buyer. My plan is to get an investor loan, have my parents live in, show expenses and save tax etc all that jazz. Will have to put 25% down. Vs Just go basic conventional loan. Q. What's the best way to save $ and increase wealth Q. I have the 20% for down but with APR being so low, is it smart to pay pmi and put 5% down ? Another other smart way to go about this ?
Your help is very much appreciated!! Edit : house price is $320k. It's a 2020 house so almost brand new, so not sure if I can add value and force appreciation ? [link] [comments] |
| First time home buyers seeking advice from Home Owners/Realtors Posted: 15 Feb 2021 07:18 AM PST What are some dos/donts? What do you wish you knew before? What are some things to look for? What are some things to avoid? My girlfriend and I are looking to purchase our first home. We have a combined gross income of about $83k. We are looking in the $200k range. We have about 15% saved and both of our credit scores are well into the 700s. We are in the process of getting prequalified and just taking our time with this. Any advice/opinion welcome! [link] [comments] |
| Posted: 15 Feb 2021 07:07 AM PST My wife and I are first time home buyers in the Atlanta area. In the parts of Atlanta where we are looking we are mostly priced out of single family homes that aren't fixer uppers. We don't want to spend a lot of time and money on renovations so we are looking at townhouses. There are also a number of duplexes that are coming up at around the same price. Until this point I have been wary of buying one side of a duplex. I know that in a townhome you also share roofs and other things with your neighbors but there is an HOA where as in duplexes it seems like whether or not you get repairs done would be based on whether or not you got a good neighbor. But duplexes tend to have more outdoor space and more privacy. We are looking to live in this home for the next 5-8 years and then sell. Overall what is considered the better investment? [link] [comments] |
| Posted: 15 Feb 2021 06:53 AM PST Can someone point me in the direction of some good places to begin learning about multifamily syndication? Were expats living abroad and think this might potentially be a good option for us to get started with rentals. I want to do my homework. Thanks [link] [comments] |
| Posted: 15 Feb 2021 06:35 AM PST We are in the process of buying a house. This will be the second time we have purchased a home so we know a little about the process but it is still very overwhelming. We bought our first house 2 years ago in the suburbs well below our means with the hope to move out of the city onto acreage within the next 5 years. Well, my husband decided that time is now so we started our search. After looking at 3 houses we fell in love with a 2400 square foot ranch on 2 acres. The house was above our desired budget but the location and move in readiness convinced us to make an offer. Our offer was accepted with seller splitting closing costs. The house was on the market for 3 weeks with one price decrease when we made our offer. The house is an obvious flip. That was a little concerning but we figured the inspection would turn up any red flags. We submitted our inspection re-negotiations on Saturday and haven't heard back. The sellers had been quick to return calls up until now. We asked they service the furnace because it was so full of sawdust that the house would not heat above 55. We also ask they correct a few plumbing mistakes (there is a gap under the sink with no insulation) and properly fix the sump pump. These issues seemed to be errors on their work. Also, some black mold was found. Otherwise there were no big issues, no foundation cracks or termite infestation. Radon came back good as well. Any idea why they haven't responded to our requests? This home is at the top of our budget so we are expecting it to be move-in ready. How much is "too much" to request on a flipped house? [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