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    Home Unlabelled Real Estate: 2 weeks into my condo and I hate it, do I sell?

    Real Estate: 2 weeks into my condo and I hate it, do I sell?

    March 10, 2021

    Real Estate: 2 weeks into my condo and I hate it, do I sell?

    2 weeks into my condo and I hate it, do I sell?

    Posted: 10 Mar 2021 05:28 AM PST

    I excitedly bought a condo at $122k with 10% down (conventional). It isn't exactly what I hoped for. The upstairs creeks miserably and the walls are incredibly thin. I honestly can't hear my tv when they are having dinner. Also I didn't quite understand windows don't mean sun if I I only have north facing windows. I have a decent job at around 80k a year but not great at saving. My parents don't use the top floor of our home that has occasionally been a in-law apartment so it has a bathroom/ bedroom/ living room and have offered the space to me if I need it, so I could theoretically stay there while saving up money to find a new spot to rent or buy.

    I feel like a bit of an idiot for this and not sure what to do. I think I should wait out another few weeks here at least but I'm not confident things will change. The upstairs neighbors are renters and pretty nice. What causes the most noise is simply then walking on the old floors. They did have friends over yesterday and there noise came through quite loud even though they were being pretty tame.

    I spent $5k on closing costs and it looks like my seller had basically the same costs. I could theoretically recoup that in about 9 months living with my parents but obviously it was a costly mistake.

    I've looked at how much it would cost to open the ceiling and do work there and it would probably be like $1500 for the living room where it is the worst but that would only fix the squeak (that is the worst part tho)

    Edit:

    Adding some more detail since this blew up.

    The apartment is real nice. Well maintained by a single owner. Beautiful beautiful kitchen, new floors and windows. It's a two story complex where every unit is an end unit. It's on some nice land. So many birds they drained my feeder dry in 4 days. A mile from a state park and the ocean and close enough to the highway.

    My brothers girlfriend bought a similarly priced condo near by that's townhouse style and a little smaller but she's 15 minutes from the highway and doesn't have much around her.

    I still feel a bit drained by the move and had high hopes this place would help with my recent bad mental and physical health. Old place only had a window to a window so this is an improvement on light for sure! I'm gonna give it some more time before anything serious and appreciate all your suggestions. Painting and re-trimming in the time being.

    submitted by /u/celluloid-hero
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    No open house

    Posted: 10 Mar 2021 05:36 AM PST

    Our house goes on the market tomorrow and it is showing til Sunday afternoon when we will review offers. Our REA says that she doesn't recommend open houses because in our county only one client/family is allowed in at a time. They all have to make 15 minute appointments instead and come With representation. Is this a common theme for a lot of areas? I'm afraid to lose out on a pool of people whose agents may not be available to get them into the home.

    submitted by /u/ItPleasesTheNurse
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    Aggravated between renting and buying. Any advice

    Posted: 10 Mar 2021 04:20 AM PST

    So..... I'm in kind of a predicament. We've been renting for years now. I have the ability to get a VA loan. It's just my income providing the money for the loan, as I think my wife's credit isn't very good.

    My problem is, I'm sure others have the same issue is, If I bought a house my payment will be less than what my rent is.

    I'm afraid I won't qualify for a loan of more than maybe $150k. I only make $45k a year. I'm saying this because my sister just bought a house. She makes $55k a year and she was approved for $150. My number is just playing with generalities...no specific.

    I cant/won't be able to find a house for anywhere near that. They just don't exist here.

    Let's just say I got a loan for $150k, I'm guessing a payment will be around $800. I have no idea if this is accurate, just trying to sort this out in my head.

    But my rent is currently $1200. I can afford a little more house based off what I currently pay, not what I earn.

    I'm 48 years old, so I need to figure something out real quick.

    What's one to do? Am I destined to continue renting?

    submitted by /u/truedjinn
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    Why would a brand new construction be a Fannie Mae HomePath property?

    Posted: 10 Mar 2021 06:12 AM PST

    Looking at houses on Zillow and I found a brand new construction completed in 2021. The part I don't understand is that it says "This is a Fannie Mae HomePath property." I was under the impression Fannie Mae HomePath was for foreclosures. Why would they have a brand new construction?

    submitted by /u/strings_struck
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    [US] When do you think condo markets in cities will bounce back?

    Posted: 10 Mar 2021 09:17 AM PST

    Currently trying to sell a condo in Chicago. Its been on the market for 3 weeks and so far 0 showings. There is a huge bifurcation in the real estate market where SFH and Town homes are all closing pretty quickly and sometimes over asking price but condos have been sitting on the market for over 6 months or being sold at a loss.

    This is pretty obvious given the current circumstances but wanted to get your thoughts on when can I realistically expect the condo market to get better.

    submitted by /u/curious_mindz
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    Why are single 30-40 year olds buying 2500 square foot houses?

    Posted: 09 Mar 2021 04:12 PM PST

    Is this a spending what you can afford thing? I sold my 5br home to a 43 year old single guy with no pets. My sister is in a LTR with someone who owns a decent sized house and she just bought her own decent sized house. She really had no explanation. Another one of my friends bought a 4br and he has no serious girlfriend. Is this animal spirits, maxing your spend or some other force?

    submitted by /u/Accomplished_Earth50
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    "I'm telling you, this time it's different" - A lesson in somewhat-recent housing price history

    Posted: 09 Mar 2021 02:17 PM PST

    Lots of "2008 was a one-time event, it'll never happen again this century" in this subreddit.

    So, from someone who was under contract this summer for a $612k 1950s 3 bed/2bath in SoCal (San Fernando Valley), backed out due to inspection issues and is now looking at houses in similar condition in the same neighborhood for $750k asks/$850-900k selling prices, here's a (albeit local) history lesson. I'm pretty sure I'm out, despite this market "being different."

    Lesson 1: 1970-1980 and the effects of it in the early 80s. I'm only posting parts of the articles. This is from the NY Times in 1981 and 1984, but links aren't allowed here so you can find them by googling. The 1980 Article is "HOUSING BOOM GOES BUST IN LOS ANGELES" and the 1984 article is "THE DAY LOS ANGELES'S BUBBLE BURST."

    Housing Boom Goes Bust in Los Angeles:

    A word to the wise: The great Los Angeles housing boom is over. The real estate price explosion in southern California, which sparked a national boom still continuing elsewhere, has stopped. The bubble that everyone said could never burst has burst. All over Los Angeles and Orange County, home buyers can buy a property for less than it would have cost a year ago, although there are exceptions. Buyers who can pay cash can almost steal houses and real estate. The days when ordinary citizens got rich from buying houses are gone, at least for the time being and at least in southern California.

    But what a bubble it was. In the 10 years from 1970 to 1980, the price of the average house in Beverly Hills went up by a factor of almost seven. The average house in West Los Angeles, a region of by no means opulent homes, rose by almost six times. Houses in Malibu routinely doubled in value every year in the late 70's. By the end of the decade, newspapers advertisted ''starter houses,'' for families who had never owned before, in remote desert suburbs starting at $200,000.

    Any lucky person who got in on the boom in the early 70's saw his paper profit reach about 30 times his down payment by 1980. People who had never earned more than $40,000 suddenly found that they were millionaires just from that little house with a pool in Pacific Palisades. Ronald Reagan is said to have paid $29,000 in the early 50's for a house in Pacific Palisades that is now for sale for $1.7 million and cannot be sold, which is the whole story.

    The boom went on for such a long time because the economics were right. All through the 70's the cost of owning a house in the better neighborhoods of Los Angeles was negative. That is, the cost of servicing the mortgage plus taxes was less, usually far less, than the increase in the price of the house. Figure it out: mortgages were less than 10 percent for almost all of that decade, under 7 percent if you count the tax features, and houses were increasing in value all over the West Side of Los Angeles by a good 20 percent a year on a compounded basis. The banks, savings and loan institutions and and the economy generally were paying families to live in the better neighborhoods of Los Angeles. The economics of housing inflation were such that for a long period, lenders made mortgage loans at rates substantially below the appreciation of the houses they were loaned upon and in some years, noticeably below even the trend line for inflation. This cheap credit fueled the takeoff of the boom. As prices rose to stratospheric levels, the price history itself fed the boom. Real estate agents assured buyers that however high prices were, they would go even higher.

    ...

    Once it was admitted that it might just be possible that real estate would not go up forever, the essential spirit of prepetuity that every bubble needs was gone. Buyers became fewer and more choosy. Houses that once sold in a week stood unsold for a year. As demand fell, prices stopped rising, then began to fall. Although some surveys show a very slight price rise in the last few months, brokers say that any determined buyer can buy a house anywhere except the Malibu Beach Colony for less than it would have cost last year.

    The Day Los Angeles's Bubble Burst:

    ​

    My pal Jerry P. just bought a condominium in Century City, in Beverly Hills, for 60 percent of what it sold for in 1980. Down the street from me here in the Hollywood hills, four houses have been on the market since 1981. The asking prices now are about one-third less than they were three years ago. Up and down Sunset Boulevard in West Hollywood, apartment houses that were converted to condos lie empty, boarded up, not one unit sold, in bankruptcy, with banks holding title.

    New Yorkers do not like to believe they could learn anything from California, but perhaps in this one case they might try.

    The Southern California residential real estate boom began in about 1974. It was not just a boom. It was a superboom, with miserable bungalows in Santa Monica running up from $40,000 in 1974 to $400,000 by 1980. Two-story colonials in Beverly Hills went from $200,000 to $800,000 and then over a million. One-bedroom condos in Hollywood were built and sold for $100,000 - what a house in Beverly Hills had been five years before. Every day, home buyers would look at the prices and say, ''It can't go on.'' But every day, for five years, it did go on. Middle-class families were priced out of the market, and the brokers said, ''But the rich will always be able to buy.'' Ordinary rich people were squeezed out of the market in some areas, but the brokers said, ''Never mind, the music business people will buy anything.'' The music business fell into a depression in 1979, and the brokers said, ''The

    foreigners are buying. Compared with Paris or Teheran, real estate in Holmby Hills is a bargain.''

    Everyone wanted to get in to the game, get the down payment on a house, somehow struggle with the payments for a year, then sell out and get rich quick. Inflation pushed housing prices into the stratosphere. But even when inflation stopped, brokers said, ''The prices have nothing to do with inflation. Everyone on earth wants to live in L.A. The price will go up forever here, no matter what else happens in the rest of the country.''

    Then the music stopped, some afternoon in 1980. As if a spell had fallen over the city, suddenly things began to stay on the market for three months, six months, a year, two years. Buyers disappeared. Asking prices stayed high, but nothing sold.

    The great Southern California real estate boom was over. Prices had gotten so high that they could no longer be justified by inflationary expectations, or the influx of foreigners, or the climate, or for any other reason.

    Now, four years later, those brokers who are still in the game tell sellers to expect that their houses will be on the market for two years. Other brokers have sold their BMW's and are now working as ''financial planners'' or public-relations people, dreaming of the days when they worked for 6 percent of infinity.

    Not long ago, I was in New York City looking at co-ops, talking with recent buyers, would-be buyers, brokers. The conversation is eerily familiar. Listen to the buyers: ''Of course, we'll take two extra jobs and avoid having kids to buy this studio apartment facing an airshaft for $150,000. Next year, it'll be $250,000.'' And the brokers: ''Of course, there aren't many Americans who can afford to buy here any longer. But there will always be rich foreigners. New York is the most exciting city in the world. New York is unique, and two bedrooms on the West Side should cost half a million dollars.''

    Do not believe it. Trees do not grow to the sky, and the great New York co- op boom will eventually go the way of the great L.A. bubble. Yes, New York apartments were underpriced for years. Yes, New York is an exciting place. Yes, there are a lot of rich people who like New York. Yes and yes and yes. But no real estate bubble ever goes on forever, and the day when everyone agrees that it will go on forever is usually the day it ends.

    Maybe this boom will go on a little longer. Maybe, as some of my banker friends tell me, it has already started to totter. Who knows, exactly? But when buyers consider tying themselves in knots to get onto the housing merry-go-round, in the certain belief that they have a sure thing by the tail, they might remember the housing boom in L.A. and the shuttered condos in West Hollywood. The only thing certain about housing bubbles is that they never last.

    Lesson 2: Late 1980s into the mid 90s, a collection of LA Times article headlines. I didn't put them together, pulled them off a nearly decade old blog run by a real estate enthusiast. Of note, my parents bought their house is SoCal in 1994, for about 40% less than what it sold for in 1990. They accidentally timed the market just right :).

    1985-1986: Housing is booming, inventory is low.

    Housing Starts Surge 14.9% During January, Best Gain in 20 MonthsLos Angeles Times Feb 20, 1985; pg. 1

    Inventory of Housing Dips in Southland Unsold New Homes Declined by 3.2% from End of l984DAVID M. KINCHEN; Los Angeles Times; Mar 16, 1986; pg. 1

    Housing Sales Boom Keeps Inventories SlimDICK TURPIN; Los Angeles Times; Aug 24, 1986; pg. 1

    1987: Housing still booming, prices increasing, inventories low.

    High-End Home Sales Push Up Median Price

    Dick Turpin; Los Angeles Times (pre-1997 Fulltext); Mar 15, 1987; pg. 1

    Inventory of Unsold Homes Sets New Low

    Los Angeles Times (pre-1997 Fulltext); Mar 15, 1987; pg. 1

    Fewer Homes, High Prices as Mortgage Rates Climb

    TOM FURLONG; Los Angeles Times (pre-1997 Fulltext); Sep 10, 1987; pg. 1

    Fixed-Mortgage Interest Rates Surge Woes Mount for Home Buyers, Brokers

    TOM FURLONG; Los Angeles Times (pre-1997 Fulltext); Sep 10, 1987; pg. 1

    Unsold Homes Inventory Drops for Third Time

    DAVID M. KINCHEN; Los Angeles Times (pre-1997 Fulltext); Sep 13, 1987; pg.1

    1988: People start to question the boom. Realtors assure us the boom will continue. Houses aren't like stocks afterall.

    '88 Outlook Bright for U. S. Real Estate

    Dick Turpin; Los Angeles Times (pre-1997 Fulltext); Jan 10, 1988; pg. 1

    County's Median Resale Price of Homes Reaches $179,999, Costliest in California

    JOHN O'DELL; Los Angeles Times (pre-1997 Fulltext); Mar 23, 1988; pg. 5

    Unlike Stocks, Home Prices Rarely Collapse

    JAMES FLANIGAN; Los Angeles Times (pre-1997 Fulltext); Aug 28, 1988; pg. 1

    Southland Inventory of Unsold New Homes Lowest in Decade

    DAVID M. KINCHEN; Los Angeles Times (pre-1997 Fulltext); Sep 11, 1988; pg. 10

    J. M. Peters Reports Skyrocketing Sales for Second Quarter

    MICHAEL FLAGG; Los Angeles Times (pre-1997 Fulltext); Sep 14, 1988; pg. 5

    Limit Issue Driving Up Home Prices

    Dick Turpin; Los Angeles Times (pre-1997 Fulltext); Sep 18, 1988; pg. 1

    Hot Housing Sales Belie Doom Forecast

    Ryon, Ruth; Los Angeles Times; Sep 25, 1988; Vol. 107, Iss. 297; 8; pg. 1

    1989: Prices are very expensive; affordability an issue. Sales slow and prices drop. Mention of risky loan types.

    Housing Prices in State Climb 3% in February

    Furlong, Tom; Los Angeles Times; Mar 29, 1989; Vol. 108, Iss. 116; 4; pg. 1

    Stock of Unsold Homes Drops Dramatically

    DAVID M. KINCHEN; Los Angeles Times (pre-1997 Fulltext); Apr 2, 1989; pg. 9

    How First-Time Buyers Can Get Their Piece of the Dream

    Myers, David W; Los Angeles Times; May 21, 1989; pg. VIII1

    State's Home Sales Drop 14% Median Price Tops $200,000 for First Time

    Crouch, Gregory; Los Angeles Times; May 25, 1989; pg. IV1

    Sales of Existing Homes in State Fall During May

    Furlong, Tom; Los Angeles Times; Jun 23, 1989; Vol. 108, Iss. 202; 4; pg. 1

    Orange County Home Sales Drop by 22% in May

    TOM FURLONG; Los Angeles Times (pre-1997 Fulltext); Jun 23, 1989; pg. 1

    Realtors Tackle New Topic: How to Handle Slow Housing Marke

    tMyers, David W; Los Angeles Times; Oct 1, 1989; pg. VIII1

    Prices Drop, Sales Slow in State's Housing Market

    TOM FURLONG; Los Angeles Times (pre-1997 Fulltext); Nov 29, 1989; pg. 1

    Housing Affordability Rises Outside L.A., Orange County

    Kristof, Kathy M.; Los Angeles Times; Dec 06, 1989; Vol. 109, Iss. 3; D; pg. 1

    Survey Cites Four California Banks With Possibly Risky Realty Loans

    JAMES BATES; Los Angeles Times (pre-1997 Fulltext); Dec 30, 1989; pg. 1

    1990: Prices take a serious plunge. One article claims that housing booms are a bad thing and we should hope prices stay low. Increasing mortgage rates are blamed for the bust. The word "recession" is mentioned. Gloom and doom.

    Home Sales in Southland Plunge in '89

    Samuels, Alisa; Los Angeles Times; Feb 8, 1990; pg. D2

    *The Number of Homes for Sale Sets a Record Real Estate: San Diego becomes buyer's market, with 4,000 existing homes listed in January.*

    GREG JOHNSON; Los Angeles Times (pre-1997 Fulltext); Feb 13, 1990; pg. 2.A

    Pray That the Housing Boom Stays Dead

    Jones, Robert A; Los Angeles Times; Apr 24, 1990; pg. A3

    Climbing Mortgage Rates Hurt Existing Home Sales

    Samuels, Alisa; Los Angeles Times; Apr 26, 1990; Vol. 109, Iss. 144; D; pg. 3

    California Is Nearing the Edge of Recession, UCLA Forecast Warns

    Anderson, Harry; Los Angeles Times; Jun 29, 1990; Vol. 109, Iss. 208; D; pg. 1

    California Real Estate Market Continues to Cool

    TOM FURLONG; Los Angeles Times (pre-1997 Fulltext); Jul 26, 1990; pg. 1

    Home Sales in July at Slowest Pace in 4 1/2 Years

    Furlong, Tom; Los Angeles Times; Aug 28, 1990; Vol. 109, Iss. 268; D; pg. 2

    Realtors Hear Gloomy Price, Sales Forecasts

    Myers, David W; Los Angeles Times; Oct 7, 1990; pg. K1

    *O.C. Home Resales, Prices Fall Sharply Housing: Realtors group attributes slump in county and state figures to fears of recession.*

    MICHAEL FLAGG; Los Angeles Times (pre-1997 Fulltext); Oct 26, 1990; pg. 5

    Housing Slump in California Seen Worsening

    TOM FURLONG; Los Angeles Times (pre-1997 Fulltext); Nov 21, 1990; pg. 1

    1991: A "dead cat bounce"? Some folks wondering if the bust has bottomed out or not. Sales are abysmal (e.g., -42%). Other parts of the country showing some signs of recovery.

    Back to Basics

    Inman, Bradley; Los Angeles Times; Jan 20, 1991; pg. K1

    Re-Assessing When Home Prices Fall

    Boyer, Jeanne; Los Angeles Times; Feb 3, 1991; pg. K1

    California Still Among Lagging Areas, Fed Says

    JAMES RISEN; Los Angeles Times (pre-1997 Fulltext); May 2, 1991; pg. 1

    *Reading Signs--Is Market at Bottom?*

    Inman, Bradley; Los Angeles Times; Sep 8, 1991; pg. K1

    *County's New-Home Sales Plunge 42% for Quarter * Real estate: New figures indicate the market is sputtering again after a brief recovery. The inventory of unsold houses rose by 15%.*

    GREGORY CROUCH; Los Angeles Times (pre-1997 Fulltext); Oct 4, 1991; pg. 5

    Home Sales Decline in California

    Los Angeles Times; Nov 26, 1991; pg. D1

    *Home Sales Decline in California Housing: The drop in mortgage rates fails to spur sales in the state, but sales of existing homes across the country edge up in October.

    *Los Angeles Times (pre-1997 Fulltext); Nov 26, 1991; pg. 1

    1992: No one is buying; housing is an investment that no one will touch. Desperate political efforts being made to encourage house buying. Rock bottom prices and lower mortgage rates encourage some purchasing. The year ends with some buying. Another "dead cat bounce"? It's not clear.

    *Move-Up Home Buyers Pretty Much Left Out Real estate: While Bush's plan may boost first-time purchases, it does little to dispel caution in the other key housing sector.*

    JUBE SHIVER Jr.; Los Angeles Times (pre-1997 Fulltext); Jan 30, 1992; pg. 4

    Home Sales in State Fell 6.2% in 1991

    Shiver, Jube, Jr.; Los Angeles Times; Feb 12, 1992; D; pg. 1

    *Spring Thaw Real estate: The local housing market is showing signs of recovery. More realistic selling prices and reasonable interest rates have helped to spur sales.*

    PATRICIA WARD BIEDERMAN; Los Angeles Times (pre-1997 Fulltext); Mar 26, 1992; pg. 1

    *Housing Starts Increase 6.4% to 2-Year High * Economy: A strong surge in apartment building leads the way, providing economists with more evidence of a sustained recovery.*

    JUBE SHIVER Jr.; Los Angeles Times (pre-1997 Fulltext); Apr 18, 1992; pg. 1

    June Home Sales 3.5% over May but Trail 1991 Figure

    Los Angeles Times; Aug 2, 1992; pg. K1

    August Housing Starts Rebound 10.4%, U.S. Says

    Marshall, Matt; Los Angeles Times; Sep 23, 1992; D; pg. 1

    California Home Sales Surge

    Myers, David W; Los Angeles Times; Nov 25, 1992; pg. D1

    Sales of Existing Homes in California Rise Again

    Myers, David W; Los Angeles Times; Dec 24, 1992; pg. D1

    1993: It's definitely a buyer's market. Some people are saddened by the fact that current prices are 50% of what they were in the 1980's. The housing bust in Southern California is clearly negatively impacting the California economy and the national economy at large. Sellers are desperate to sell (and some people taking extreme measures like putting huge "for sale" signs on their lawns for passing planes to see). Folks who waited out the boom to buy at the bottom are being handsomely rewarded for their patience. Proof-positive of the contrarian investing style -- be greedy when everyone is fearful and fearful when everyone is greedy. The "slump" may be ending.

    *Long Southland Housing Slump Finally Ending?

    *DAVID W. MYERS; Los Angeles Times (pre-1997 Fulltext); Feb 10, 1993; pg. 1

    *Housing Market Warming Up After 3-Year Slump Real estate: Optimism returns to Southland with rising sales. Number of homes on market is down.*

    DAVID W. MYERS; Los Angeles Times (pre-1997 Fulltext); Feb 10, 1993; pg. 1

    A sad Westside story: Home prices have declined up to 50% since late 1980s

    Myers, David W; Los Angeles Times; May 28, 1993; D; pg. 1

    *Couple Put Up a Big Sign of the Real Estate Slump Housing: They write `For Sale' in huge letters on their lawn, hoping to attract attention from passengers in planes and jets on flight path to LAX.*

    DICK WAGNER; Los Angeles Times (pre-1997; Apr 29, 1993; pg. 8

    *Home Sales in County Climb by 3% Real estate: The market bucks the downward trend of neighboring areas. But analysts say don't be too optimistic.*

    STEPHANIE SIMON; Los Angeles Times (pre-1997 Fulltext); May 28, 1993; pg. 1

    *It's a Buyer's Market as Peninsula Home Prices Tumble Real estate: Younger families are taking another look at an area that was once beyond their economic grasp. This could revitalize the school district.*

    TED JOHNSON; Los Angeles Times (pre-1997; Jun 24, 1993; pg. 3

    *Home Sales Up 6.3% in State, 4.6% Nationwide Real Estate: Analysts credit low interest rates and say buyers are beginning to think that prices may have bottomed out.*

    DAVID W. MYERS; Los Angeles Times (pre-1997 Fulltext); Jun 26, 1993; pg. 1

    California's real estate slump deepens

    Miller, Greg; Los Angeles Times; Jul 27, 1993; pg. D2

    Southland home values lead U.S.--Downward

    Myers, David W; Los Angeles Times; Aug 4, 1993; pg. D1

    *Bottom Line: Housing Market May Be Mending Real Estate: Despite a three-year slump, experts say prices are stabilizing, especially for homes under $500,000.*

    PATRICIA WARD BIEDERMAN; Los Angeles Times (pre-1997 Fulltext); Aug 22, 1993; pg. 1

    *Buyers Seek Bargains as Home Prices Keep Sliding Real estate: La Canada Flintridge emerges as bright spot with a nearly 21% increase in sales over same period last year.*

    ANDREW LePAGE; Los Angeles Times (pre-1997 Fulltext); Sep 2, 1993; pg. 1

    Sitting on the market: After the cash, owners adjust to the region's housing slump

    Myers, David W; Los Angeles Times; Sep 20, 1993; D; pg. 1

    State's bargain hunters boost new-home sales to 3-year high

    Myers, David W; Los Angeles Times; Oct 1, 1993; pg. D1

    *Home Sales Rise Sharply in State, Nation Real estate: Size of increase surprises housing analysts. Median price in California is down 4.3% from 1992 figure.*

    DAVID W. MYERS; Los Angeles Times (pre-1997 Fulltext); Oct 26, 1993; pg. 2

    Jump in new-home sales spurs hopes of long-awaited revival

    Myers, David W; Los Angeles Times; Nov 3, 1993; pg. D1

    Drop in Southland Home Sales Slows in First 10 Months of '93

    Los Angeles Times (pre-1997 Fulltext); Nov 28, 1993; pg. 4

    U.S. home sales hit 14-year high

    Myers, David W; Los Angeles Times; Nov 30, 1993; pg. D1

    *Slump in O.C. Housing Market May Be Ending Real estate: November figures show a major year-to-year increase in the number of units sold. Median price still sags.*

    JOHN O'DELL; Los Angeles Times (pre-1997 Fulltext); Dec 21, 1993; pg. 1

    1994: Housing begins its comeback. People who had the intelligence to wait for the bottom are buying now at great values. Even rising mortgage rates are not shaking the recovery.

    Bright Spots Some Areas Showing Signs of Recovery After Four-Year Slump in Home Prices

    Los Angeles Times (pre-1997 Fulltext); Jan 16, 1994; pg. 1

    Lenders scramble to keep housing comeback alive

    Myers, David W; Los Angeles Times; Mar 30, 1994; D; pg. 1

    First-Time Buyers Who Waited Spark Housing Rebound Real estate: After years of ice-cold sales, the city's

    *Westside market is finally starting to heat up.*

    SCOTT SHIBUYA BROWN; Los Angeles Times (pre-1997 Fulltext); Jun 5, 1994; pg. 10

    Home Sales Up 24% From Last Year

    Los Angeles Times (pre-1997 Fulltext); Jun 26, 1994; pg. 6

    June Home Sales Best in 5 Years Ventura County Is Leader

    Jack Searles; Los Angeles Times (pre-1997 Fulltext); Jul 26, 1994; pg. 8

    Rising mortgage rates shake but don't break state housing industry

    Lee, Patrick; Los Angeles Times; Oct 7, 1994; pg. D1

    1995: Some parts of the Southland are recovering others are not. People with "negative equity" are in despair.

    Home Sales Rise 10.5% in State, Hit 5-Year High

    JAMES F. PELTZ; Los Angeles Times (pre-1997 Fulltext); Feb 9, 1995; pg. 1

    Southland Home Price Rebound Fails to Appear

    JESUS SANCHEZ; Los Angeles Times (pre-1997 Fulltext); May 22, 1995; pg. 1

    County Home Sales Slide 20.4% in May

    DAVID R. BAKER; Los Angeles Times (pre-1997 Fulltext); Jun 13, 1995; pg. 1

    Home sales surge 19% in May, raising doubts of rate cut

    Mowbray, Rebecca; Los Angeles Times; Jun 30, 1995; D; pg. 1

    *Study of Homeowners Finds `Negative Equity' a Problem Real estate: Nearly 5% owe more than homes are worth. Impact hinders the state's economy, experts say.*

    DEBORA VRANA; Los Angeles Times (pre-1997 Fulltext); Jul 6, 1995; pg. 1

    *O.C. Real Estate Sales Drop Property: Preliminary figures for July suggest the county's housing market is still in a slump.*

    DEBORA VRANA; Los Angeles Times (pre-1997 Fulltext); Aug 1, 1995; pg. 1

    1996: A tentative recovery is still in the making.

    State's housing market finally in turnaround

    Sanchez, Jesus; Los Angeles Times; Oct 25, 1996; pg. D1, 1

    O.C. homeowners more confident

    Fulmer, Melinda; Los Angeles Times; Dec 3, 1996; pg. D.2

    Ready to fly? Region's housing prices on rise, moderately

    Sanchez, Jesus; Los Angeles Times; Dec 29, 1996; pg. D.1

    1997: Finally, housing has recovered.

    *Southland Home Sales Are Unseasonably Hot Real estate: In O.C., October sales were 46.5% higher than last year. Median price of $208,000 was highest since 1994.*

    E. SCOTT RECKARD; Los Angeles Times; Nov 14, 1997; pg. 1

    *Median Price for O.C. Homes Surges 10.5%*

    E. SCOTT RECKARD; Los Angeles Times; Dec 10, 1997; pg. 1

    submitted by /u/VadGTI
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    Closed house last week but lost job- can i put it on rent right away?

    Posted: 10 Mar 2021 05:59 AM PST

    Hey all

    I closed on a house last week but lost the job. I am still living in rental apartment and can continue here. Rental could cover approx 95% of the monthly mortgage of new house.

    Do you think its a good option?

    Also, i have taken 30yr conventional loan. Any issue from lender/bank side if i put the house in rent so soon?

    Please share your valuable suggestions!

    submitted by /u/risri89
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    Please critique my plan [living in the US for 5 years]

    Posted: 10 Mar 2021 10:55 AM PST

    Hey all,

    Me and my wife are planning to buy a home and I'd like to have our plan reviewed. I don't know if this is a personal finance or real estate question.

    I recently got a remote job so we decided we will not rent in California. We will buy somewhere affordable.

    Salary [Pre-tax]: $165,000

    Debt:

    5k - (one student loan, higher interest)

    15k - Another student loan (low interest)

    3k - car (really low interest)

    We're looking to buy salaries in a city (or likely the burbs) with appreciating home prices, the houses we are looking at are max 300k.

    We plan to live there for ~5 years [until she gets her greencard], then sell whatever equity we have in the home and move to Canada.

    How do y'all feel about this plan? [This is our first time buying a home and I just wanted some feedback.]

    Is 300k reasonable or is it too much?

    We were hoping to make 2x the mortgage payments to try to pay it off early but I'm not sure we will actually do that. We talked about doing a 15 year loan and trying to pay off by paying 2x the payments. Is that unrealistic?

    We're also thinking of buying a home that is made after the year 2000.

    Are there any other gotchas y'all think we might run into?

    submitted by /u/robot-ancestor
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    Buyer to indemnify seller in request for repairs?

    Posted: 10 Mar 2021 10:52 AM PST

    Hi all, in contract on a house and it has a bunch of issues that we identified in inspections. Seller is only willing to cover a small portion of them, but my concern is in their response they added the following:

    "Buyer indemnifies and releases seller from any liability related to any findings/issues buyer discovered during investigations"

    This seems very suspect, as in theory we could indemnify them against claims made by 3rd parties like the city, etc? But I Am Not A Lawyer.

    submitted by /u/stilltikin
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    What motivates a seller to accept an offer within 12 hours of listing? (CT)

    Posted: 10 Mar 2021 10:48 AM PST

    I'm having trouble understanding why sellers are in such a rush to sell a vacant home. Two cases in point: one house which was sold within 12 hours of listing on the MLS (literally as we were exiting the driveway it was under contract). The second time the MLS specifically stated "offers were due by 3/7" and of course, on 3/4 it was already off the market. I don't get it - aren't sellers missing out in a bid war?

    submitted by /u/NSAwatchespr0n
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    I've identified a property I want to put an offer on. I have no agent and the listing agent is refusing dual agency. How should I approach this?

    Posted: 10 Mar 2021 10:42 AM PST

    I found a duplex I like and want to purchase it as an owner occupied house hack. I come from a family of RE investors. We often search for homes ourselves and ask for dual agency with the listing agent. Listing agents usually jump at the chance for more commission. I realize lots of resources suggest against this but it's worked well for us in the past.

    However, the listing agent for this duplex does not want to do dual agency. They suggested we find an agent if we want to put an offer down.

    How would you proceed here? Should I find an agent to represent me and request that they give me a portion of their commission back as a buyer's credit since I've already identified the property? If so, how much commission is appropriate for this new buyer's agent?

    Or would it be possible to hire a RE lawyer to help me do this deal?

    Any guidance would be greatly appreciated, thank you!

    submitted by /u/prolemango
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    I need to sell my home and get another home but need to know what need work without getting a real estate agent.

    Posted: 10 Mar 2021 10:41 AM PST

    Please, it has been a very emotional time and I really don't want to sell my home but due to health issues I'm no longer able to work. My husband has tried to absolute hardest, and then some. It needs new siding/trim/insulation/oil tank/probably septic with my luck, 2 bedrooms have no flooring or completed drywall, window replaced, door replaced. My husband is incredibly handy and has done almost everything ourselves, we just got a new complete HVAC system installed and central air. (I wouldn't have if I knew we had to leave)

    Bought the house for $320k (about 30minutes or so outside Boston) everywhere online says it's worth $400k+ but it does need work. We have an FHA and the house qualified for it. My husband really doesn't want to put anymore money into it at all (I think we should do siding/paint inside and the flooring) it's a wonderful area and our neighbor sold his house recently for over $150k what he bought for 10 years ago and his house and lot was much smaller. I hope to make a profit and be able to put a downpayment on a home, that is my goal. Who can tell me what work needs done to sell? Wont appraisers just give the value? He is very against getting a real estate agent (extremely poor) it's just not an option.

    submitted by /u/Sevendevils777
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    People investing in different cities. What do you think?

    Posted: 10 Mar 2021 10:41 AM PST

    A one bedroom in my city:

    Cost: starts at 320K (pre construction 2023) no parking included.
    Rent: 1300$/month maximum
    Property taxes: around 3K per year
    Mortgage: 1109$ (calculated at a 2.2%. Currently the rate is 1.75%)

    I am considering buying in a different city where a new construction two bedroom townhouse

    Cost: 250K
    Rent: 1575$/month
    Property taxes: 11,500$ yearly
    Mortgage: 837$ (at 1.9% rate)

    After paying taxes and mortgage, I will have to put 3000$ from my pocket + maintenance fees.

    I only have 80K in my pocket. I can either or but

    submitted by /u/justaquestionor2or3
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    Effect on home value when a hospital goes up down the street?

    Posted: 10 Mar 2021 10:36 AM PST

    A smallish (75 bed + ED, trauma and cardiac focus), three story hospital is going up down the street from me, maybe a five minute walk and certainly visible from my front door.

    The neighborhood is suburban 1,200-1,800 sq foot starter homes / retirement homes.

    I expect the effect on home values to be positive in the short term as employees of the hospital look to locate near work, and maybe some folks want to live near a hospital just in case.

    Does that make sense? If so, do you think the effect would be long term, assuming the hospital stays on good standing in the community?

    submitted by /u/Embarrassinquestion
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    Did we make a mistake?

    Posted: 10 Mar 2021 05:42 AM PST

    For reference, my husband and I have been looking at houses for almost a month now in Atlanta. Our budget is $225k with an FHA loan and boy has this been a doozy. We currently rent but we have very much outgrown this house and it has some issues that I think the landlord is trying to wait until we eventually move out to address. For example, several years back our former roommate fell through a board on our windowed in back porch. They sent out a handy man and his solution when he came to fix the outside railing and that hole was to screw down a board of plywood and call it a day but in reality that whole back area should be torn down and redone. Basically there's a lot of bandaids on this house and we are worried it's getting more and more unsafe with every bandaid fix they do.

    Anyway, we saw a recently remodeled 4 bed/2.5 bath house a few days ago that is very funky. What I mean by that is, the outside of it is cute but the inside layout is odd. You have to walk through one of the bedrooms to get to a set of stairs that leads up to another bedroom and also down to one more bedroom with a sliding door to the backyard. It has a detached garage but it is basically just three walls and a roof with a big opening where you can add a garage door. To use it as a woodworking shop, which is what we are trying to find space for, it would need some work which we are not against. House comes first and then woodshop comes second even if that means building one from the ground up in the future. Overlooking the odd layout, the house looks okay on paper for the space we need but it didn't scream "this is it" to us. It was just an okay house overall.

    Here comes the big issues we had. The neighborhood that the house is located in was sketchy to say the least when we went to look at it. The houses around it definitely aren't the nicer ones we have been seeing in the areas we have looked at before with houses that turned out too small or had issues FHA wouldn't like. There is also a closed down school across the street that has a big for sale sign on the fence but who knows if there are unsavory folks squatting in it. I'm sure most of the folks living in the area aren't criminals but it felt more unsafe than we are used to and we used to live in an apartment building that had cops called to it all the time, several times a day even. Also, when I checked to see if we could transfer over our current internet service it turns out the only option at that address is very slow satellite internet with an unforgiving data cap. So no more online gaming and maybe not even streaming Netflix which is annoying in all honesty.

    Because we were feeling desperate in the moment and felt like it was good enough we decided to put in an offer the next morning. They were asking $235k but we felt like because the neighborhood wasn't great and because it had been on the market for over 120 days, that it wasn't worth that so we offered $220k and pay $5k closing costs. That afternoon, they countered with two options: $230k and they pay $5k in closing or $225k and we pay all closing costs. As far as we our agent could tell, we were the only offer.

    My husband and I pondered on this for several hours. We were stuck between having a house that was good enough but not great layout wise that we didn't full on love and potentially living in an area that was more dangerous than we would like with bad internet for the foreseeable future. Not far off it seems there are houses here and there getting bought and flipped but we don't know when or if that pattern would continue closer to this house. This one seems to be the only one on this street. It kept coming up what if we move in and our house/cars get broken into a lot or what if the area never improves and we are stuck living in a dangerous area until we are able to move somewhere else which is who knows when. On the flip side, which we know is the million dollar question, what if the area does improve and we end up in a very valuable Atlanta home in 10-15 years time?

    We called my mom as we needed some outside input after going in circles forever, told her the details and our worries, and her biggest fear was that we buy the house and end up getting raped/murdered which is a fair fear with that empty school because who knows who might be lurking inside. She didn't really say for sure if she felt one way or the other as she had to go deal with something on her end before coming to a solid conclusion but she did feel that maybe paying more for such an uncertain home was questionable so if we went with it just stick to our original offer and if the seller doesn't like it, walk.

    Next up we called our agent with that in mind. We told her all of our fears and worries and what we thought we would do, stick to our original offer, and she seemed supportive of that move saying if they don't like it we will just keep looking. She said the listing price is just a number and you have to think about what the house is worth to you. Then she asked us point blank is this house worth $220k plus 5k in closing to us? At this point my husband is mouthing that he wants to talk off the phone again so we tell her we need to keep discussing the situation.

    I hang up and my husband says he isn't sure he would be happy in that house which is totally fair. He is worried about the weird layout and the way the house feels, like how it flows, so we pull up the pictures and hardcore try to imagine what it would look like with our stuff inside and us living in it doing all of our day to day activities. We even imagine what it would be like if we changed some stuff. For instance one bedroom has two doors leading into it making the wall it shares with the living room weird for tv placement so what would it look like if we walled up that door? What would it look like if we redid the kitchen to better meet our needs? What if the bedroom that leads to the stairwell to the other rooms is just treated as a den as opposed to a bedroom? Everything you could imagine, we thought about it and it really seemed like all the changes we would need to make added to the safety concerns of the area was pushing him closer to wanting to walk away. I would be fine with the house as it is for now but the safety of the area was my big concern but I don't want to force my husband into a house that he isn't 100% sold on. Other houses that we have both liked have had a "yeah, I could live here forever" feel to them but this one just wasn't that for both of us. We decided to just go ahead and walk and not stick to our original offer.

    Now I'm online perusing available homes and wondering if we made a mistake. As everyone knows, inventory is insanely low. We've looked at basically all the houses available right now that mostly meet our needs but everywhere we turn we just keep getting outbid or the houses have issues that FHA would not like. I'm worried that this house was our best bet and now we've walked away and won't be able to get back in. Like did we totally burn that bridge? Is there no going back if the house is still available in a month? Did we majorly mess up? We still have two months before our lease is up but we can't keep living in this place past that.

    TL;DR Out of desperation we put a lower than asking offer in on a house that is good enough on paper and was countered but because of unsafe seeming neighborhood and not 100% loving the house we walked without countering back or sticking to our original offer and are now worried we messed up.

    submitted by /u/AmethystBex
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    Starting BRRRR Investment

    Posted: 10 Mar 2021 09:25 AM PST

    Hello!

    I'm trying to start BRRRR investment but I find it difficult to wait 1 year to be able to refinance a home. Is there any way around it? I talked to BB&T and they mentioned I have to wait 1 year to be able to refinance a home I own outright.

    I'm looking for someone that's currently doing BRRRR investment that might be able to answer some questions. Thanks!

    submitted by /u/rfunk82
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    I'm a little confused -- my offers keep getting outbid, however recent comps are showing houses selling for much less (read post please)

    Posted: 09 Mar 2021 10:02 PM PST

    Hey all -- I understand how insane this market is, however I'm a little confused on the comp situation.

    I've been looking for an investment house for about a month at this point. Let's say I find a house that's $200k. I will look at comps over the past couple months and the comps will show similar houses for going at about $180k. Now I understand houses are appreciating by the minute at this point, but even if I put a bid at $210k on this property I'll get outbid (My bid has a 20% down conventional loan).

    This doesn't make sense how other people are buying houses at cheap prices but I'm getting outbid. If everyone is 'overpaying' these days, then the comps over the last couple months should reflect that.

    Now there can be a a few options

    1. I am bad at looking at comps -- I don't think this is the case since these are simple cases and I've been looking at real estate for awhile
    2. Literally EVERYONE is bidding in cash or waiving inspection contingencies -- this is a possibility but I still think some people are buying houses with loans
    3. The housing market is appreciating 10% month over month -- the market is crazy but not this crazy (yet)
    4. People are putting in high offers then negotiating down -- this is a possibility but seems unlikely in a sellers market

    ​

    Is anyone noticing a similar trend? Even when I bid ABOVE asking price which is well ABOVE comps, I'm not getting the deal. Why are these crazy high bids not being reflected in comps?

    submitted by /u/freebird348
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    Options if Appraisal on Sale is Low

    Posted: 10 Mar 2021 03:13 AM PST

    My nails are bitten to the quick, and I'm having to really concentrate on not doom texting our realtor, but we are almost to the finish line. Inspections done, our purchase appraisal done and good, ours and our buyers' conditional approvals in...all that's remaining is the appraisal on our home (appraiser is coming today), but that's been the biggest wild card this whole time.

    No, we didn't ask the buyers to waive the appraisal even though we had multiple offers; we had a good reason, though-if anyone wants the full story of our purchase and sale, lmk, but I won't bore anyone with it here. Suffice to say we got very, very lucky (although we did have our first buyers back out a week in, so not without hiccups).

    Anyway. Our purchase price is a stretch, surprising no one, I know. Our buyers are putting 20% down, have enough assets to buy our house outright if they wanted, and said they'd be willing to discuss paying over appraisal if necessary. We don't have anything in the contract, though, because reasons.

    I was even more worried about this before, but last week a new comp was just posted in our neighborhood. Same bedrooms/baths, pool like ours, smaller. If we take their price/square foot and multiply by ours, we get $5k under our purchase price. However—they're on a (small, useless, man made, tiny) body of water. However—our inside is much nicer than theirs. They don't have any updates, and we have a new kitchen, new master bath, new pool heater, etc.

    We're super nervous about this, especially because we can't buy our new home without selling this one, so if we can't come to an agreement on appraisal, we have to back out of both contracts 😭 Our ernest money is safe, but we love the new house.

    We are scheduled to close on our new home on the 30th. At this point, if our buyers have to back out due to appraisal, it's too late to pursue anything like a bridge loan, right? Any other creative (but not too fiscally irresponsible) ways to borrow the down payment until we are able to find new buyers who are okay with the appraisal?

    Yes, I'm a pessimist, I know. Everyone around me is like "don't worry about it, appraisers know what's up, you'll be fine", but I can't help but think worst case!

    Edit: if it helps with the options, I'm not worried about finding new buyers. We had to choose these buyers within literally 10 hours, because we needed someone who could close fast (first buyers backed out, and we were already under contract for new home). So very few ppl even saw our house, and even with that we got a lot of offers. Stock here, like everywhere, is nonexistent, and our home is within that sweet price range. So I feel confident that if we had a bit more time, we could find buyers at the same price with cash or willing to waive appraisal.

    submitted by /u/daphnedewey
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    He anybody heard of Renesant Bank?

    Posted: 10 Mar 2021 08:45 AM PST

    Family friend found this mortgage financer online. Has anybody heard of or used them? The misspelled word bothers me. They're also based in florida which also bothers me that I have never heard of them and it is the fraud capital of the US.

    submitted by /u/okiedokieKay
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    Previous Water damage in the house

    Posted: 10 Mar 2021 08:34 AM PST

    So sellers disclosed that early last year, a hose pipe in the bathroom broke at the threaded fitting and flooded a portion of the house. It was a fully insured event and was completely repaired. They replaced all flooring with waterproof vinyl flooring, remodeled damaged dry walls, changed bathroom vanity, painted everything, checked for mold after cleanup and before repair etc. The disclosure mentions 3 different contractor names- an environmental engineering company, a construction company, and a water damage restoration company.

    We did a regular home inspection and inspector found no evidence of mold or water damage. Foundation looked solid and all. He suspected the culprit is that the house doesn't have a water pressure valve or something and the water pressure is around 100 psi instead of 75ish. Did a sewer scope and nothing too scary there.

    My worry is that the house was probably empty when the incident happened and most likely sat in water for quite sometime before they found out. We asked for a detailed timeline from them and hope to know more soon.

    Should I be worried of this? Can mold be completely cleaned and repaired? Please advice. Thanks!

    submitted by /u/dotherflower
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    Buying property next door and merging two homes into one

    Posted: 10 Mar 2021 12:17 AM PST

    So many questions and probably things I should question but am not.

    I own a 1800 SF 3 bed 2 bath ranch built 15 years ago on 0.15 acres in a residential neighborhood (no HOA). Next door is the original 100+ year old farm house on 0.25 acres. It's a 800 SF 2 bed 1 bath with a basement.

    The homes are close enough together that in theory, if I owned both, and jumped through the proper hoops, I could tie the two homes together and up with something like a 2800SF 4 bed 3 bath ranch with a home office and small basement on 0.4 acres. Quite a nice property in the neighborhood and big enough for my growing family.

    Due to the age of the house next door, all things being equal I think I'd prefer to demo it to the floor and make a new main entrance and more aesthetically pleasing roof line and view from the street.

    Considering I don't have the cash for this dream project laying around, how could I finance such a project? Guessing banks aren't keen on giving a mortgage where the collateral will be demo'd and merged with another property. What kind of bureaucratic mess is it to erase a party line and combine into one? What kind of non normal costs would there be and what else am I missing?

    A future post can get into the specific of costs to see whether it's be better just to sell my house and buy a larger house in town.

    submitted by /u/axiomata
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    How do I close on a house as fast as possible?

    Posted: 09 Mar 2021 10:43 PM PST

    Howdy.

    FHA-qualified 23/21 yo couple here. I've done my research but as a mental exercise behind a desire to begin real estate investing. My FIL was recently released from prison as part of the CARES act. We got him set up in an apartment in the complex we have been living in for the past 3 years. Today, we got a notice of non-renewal at both apartments. With a felonious dependent, renting is very difficult. Actually, it is impossible. We have searched everywhere and the few places we have found are definitely not places I am going to live. So essentially, we either buck up and buy a fucking house or get divorced and tbh buying a house seems cheaper, less fiscally stressful, and easier at this point. We are decently well off and make a shared income of roughly $85,000-100,000 (she is tip-based, but cleared $45k last year and over the past 3 months she has averaged $2600 gross biweekly) and have nearly $20k in liquid. We live in the SLC valley, which has some pretty goddamn ridiculously inflated home values. 6 months ago I was looking semi-seriously, and the same townhomes I was looking at have increased in value by 40%. Same with all the single-family homes in the area. We have very little debt, one car loan and a couple of installment loans (total debt per month is $1000 even). My SO has near-perfect credit (a 775 at age 21). By my calculation, to run a slightly higher than 30% asset/liability ratio (i guess debt to income? idk what is the correct terminology) we could afford a $2600/month mortgage, which puts our budget around $400-450k on a 30 yr(assuming 5% interest, which is significantly higher than our prequal), which is the going price for a newer single family home in the nicer parts of town.

    ​

    Correct me if I'm wrong, but saving ~$40-50 in monthly payments does not seem worth sacrificing every single dollar we have short of what we need for move-in, inspection, and first month's payment, so we were planning on a 3% down. This gives us a roughly 5-10 month safety blanket (depending on how long it takes to buy) if we were to lose income/develop heavy drug habits/have our money stolen by squirrels/one of us tragically dies and begins the assassin-turned-restaurant-manager-and/or-server revenge tale. All of this makes sense to me, but I haven't ever owned a home before and I also don't have a multi-million dollar portfolio consisting of multiple rental properties. Please, please, please tell me if I'm missing something major here.

    ​

    Assuming I'm in the ballpark of what to expect in regards to price, mortgage, and down payment nuance, how the fuck do I close a home in the next 90 days? We are running out of time and I really, really, REALLY do not want to be living out of my goddamn 96 toyota avalon with my dog, cat, SO, and FIL.

    submitted by /u/DaFountain98
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