Real Estate: Anyone else here skip homes that have an in-ground pool? |
- Anyone else here skip homes that have an in-ground pool?
- Regret your purchase?
- A breakdown of who's buying real estate in the Austin, TX area
- Regarding yesterday’s announcement to not raise interest rates through 2023. What does this mean for homeowners and buyers?
- Interest rates have made one of the biggest moves ever in a short time, in recent weeks.
- First time land buyer, need advice on everything to check during due diligence period.
- NY Times: There's more demand for second homes than primary homes
- 2 month rent back - am I right to be worried?
- Escrow vs self paying tax/insurance
- Why would I need my own lawyer to close on a house?
- Maybe a rudimentary question: what is meant by a "hot" market?
- Property Inspection Response Work Uncompleted
- Suntrust bank will not wire funds to title company
- My agent says he can’t attend the closing
- From new to pre-owned...
- Realtor being a liar
- Seller discloses bankruptcy day before closing (PA)
- First Time Home Buyer; First Time Father
- Are covid based relief forbearance bills for forclosures and rent evictions actually contributing heavily to such a lack of availability? (greater Philadelphia area for reference).
- Suddenly most listing show as “owned by zillow”?
- Should I file taxes solo this year if I plan to buy a house independently of my spouse?
- Does anyone have a good book recommendation to learn more about how mortgages are made and what are Fannie Mae and Freddie Mac's role in the process?
- Can anyone give me a rough estimate of how much an optional add-on costs in new construction build? In this case, it’s converting a flex room into a bedroom.
- Reasonable Inspection fee SFH nova
| Anyone else here skip homes that have an in-ground pool? Posted: 17 Mar 2021 07:15 PM PDT Where I'm in Florida, it's a hot market just like most other markets. As much as the weather allows for a pool to be used most months, I am just not looking for a pool because I don't want the maintenance and liability. A few homes have hit the market that meet most other criteria, but have a pool. It pains me to pass on them because inventory is so scarce but at the same time, I just don't want to be stuck with a pool I will rarely used. Filling a pool in seems to not make sense as it's costly. Anyone else skipping pool homes? [link] [comments] |
| Posted: 18 Mar 2021 08:36 AM PDT If you bought a home in this pandemic market and it was over priced / you had to over bid for it. Are you happy with it? Do you regret it? What do you wish you did different? [link] [comments] |
| A breakdown of who's buying real estate in the Austin, TX area Posted: 18 Mar 2021 09:00 AM PDT Made a post on the Austin sub and was suggested to repost here. Sales are all from February to March. We all know the real estate market is crazy these days, but I wanted to share info from my perspective of working for a small-to-medium sized agency (not as an agent though). I've done paperwork for 22 completed sales in the last 2 months throughout Austin and the surrounding suburbs (Round Rock, Cedar Park, Pflugerville, Georgetown, etc), and I thought I'd give everyone a general idea of who the properties are being sold to and roughly how much they paid for it. Average closing price among the 22 sold homes was $330k. Average price above listing was 30-40k in February and 45-60k in March.
I can't really give out too much info about the details of each sale, but that's the gist of it. [link] [comments] |
| Posted: 18 Mar 2021 09:07 AM PDT Since the feds don't plan on raising interest rates, does this mean that housing prices will just keep going up if people can borrow money for cheap? I put my house on the market and promptly took it off because of all the offers I got within 24 hours. I can wait another year or two to sell it if needed. [link] [comments] |
| Interest rates have made one of the biggest moves ever in a short time, in recent weeks. Posted: 18 Mar 2021 09:17 AM PDT I though this article was pretty good compared to some crap that gets published. It says the increase in rates in the last 6 weeks is one of the biggest jumps ever in a short time. Yet demand still high, prices not softening yet in most areas. They make a good point that purchase mortgages will keep going if rates increase, compared to refi traffic that might drop off. [link] [comments] |
| First time land buyer, need advice on everything to check during due diligence period. Posted: 18 Mar 2021 07:02 AM PDT I just had an offer accepted on a piece of property. Now I need to make sure its all its sold to be, looking for advice from people on what to look into that I may not have thought of. So far I am doing a water quality test, and getting the property evaluated for a septic system. I need to have the property evaluated for viable homesites, but I don't know what kind of person does this work. The property has one obvious homesite, but we would prefer something a little more inward, so I want an evaluation done. The seller will be paying for a normal survey of the property for the title process, are there specific survey items I should request? Thanks for any and all help, just want to make sure I do this right. [link] [comments] |
| NY Times: There's more demand for second homes than primary homes Posted: 18 Mar 2021 09:32 AM PDT From the Times: https://www.nytimes.com/2021/03/18/realestate/theres-more-demand-for-second-homes-than-for-primary-homes.html "Rate-lock requests on mortgage applications — a sign of imminent purchase — increased far more year over year for secondary homes than for primary homes in 2020." My takeaway: we need more taxes on second, third, fourth+ homes. We need lawmakers to disincentivize this crap, seriously. We are in a housing crisis that is only going to get worse. [link] [comments] |
| 2 month rent back - am I right to be worried? Posted: 18 Mar 2021 01:17 AM PDT The sellers of the house I am in contract for requested 2 months rent-back after closing. To entice our offer we said they could stay free for that time. Already too late to change that. Regardless of how dumb or smart that "stay free" move was, the thing I woke up thinking about was what if they just didn't decide to move out. With eviction moratoriums is there anything I can even do if this happened? I wouldn't have considered it if I didn't come to the realization that the sellers are just not great home owners. They have neglected the property in their short time living in it. They are kid-dults who were essentially gifted a home and are now cashing out. Already we had to pressure with a warning of filing a Notice to Perform because they missed the initial 3 day seller disclosure deadline. It gave me pause in how they may respond when the rent-back period is over and we want them to GTFO. What risks are we taking on by agreeing to this? [link] [comments] |
| Escrow vs self paying tax/insurance Posted: 18 Mar 2021 07:13 AM PDT Is it generally cheaper to pay everything through escrow, or is there savings to be had by self paying taxes and insurance? Or maybe they're identical costs, or maybe each lender has different rules and I need stare at the fine print on my contract? Thanks [link] [comments] |
| Why would I need my own lawyer to close on a house? Posted: 18 Mar 2021 05:52 AM PDT We are in the process of closing on a house. My in-laws are convinced that we need our own lawyer during closing. Our title company has a lawyer, but why would I need my own? Thank you for your input. [link] [comments] |
| Maybe a rudimentary question: what is meant by a "hot" market? Posted: 18 Mar 2021 07:22 AM PDT People always say the housing market is "hot," but I don't understand what this means in the current market... Is it "easy to sell your home" or "prices are up?" Or is "hot" just an industry buzzword intended to induce potential sellers into selling. I would think "hot" would reflect more activity and a better balance between supply and demand. Instead it seems like the market is in a vicious cycle where low supply and astronomical prices are actually impeding sales activity because people are reluctant to sell because they don't know if they can find something to buy...? Someone learn me something. [link] [comments] |
| Property Inspection Response Work Uncompleted Posted: 18 Mar 2021 06:41 AM PDT My spouse and I recently purchased our first home. We had a lot of personal things happens after the closing and we are finally getting settled. After the inspection, we asked for the AC to be serviced since it was only 6 years old was inefficient and for a continuous roof vent to be put in as they were already replacing the roof. We discovered yesterday that no additional roof vents were put in. We own a 2000 square foot house and one vent isn't cutting it down south. We would like to hire the same roofers to fix this issue (less finger pointing and runaround). We reached out to out realtor but is there anyone else we should contact to fix this issue? We have a $775 homeowners warranty. We also want the invoice to ensure the unit was serviced. Thanks for any and all help! [link] [comments] |
| Suntrust bank will not wire funds to title company Posted: 18 Mar 2021 06:28 AM PDT So that is pretty much that, buyers are out of the country and SunTrust bank is not allowing them to wire funds to the title company unless they go to the bank in person (what it is not possible), they don't even accept a POA (power of attorney). They need to transfer around $100k and we are in Florida. Anyone experienced that before? Any other solution for this issue? Edit: we are closing Monday [link] [comments] |
| My agent says he can’t attend the closing Posted: 18 Mar 2021 09:42 AM PDT First time buying a house. My agent said he has 3 other closings on the same day and said he can't attend mine unless I change the closing date. He said I can do the closing myself if I want. He said we can do the final walk through the day before. Is there any downside with not having the buyer agent at closing? [link] [comments] |
| Posted: 18 Mar 2021 09:39 AM PDT Had anyone ever gone from a brand new home to an older/ pre-owned home? Would you say there were more problems or it's just about the same from house to house. I guess choose wisely if you buy a pre-owned, right? I'm considering selling my house in late summer of 2022. It was a 2019 build/ inventory home. I just want to be closer to friends and entertainment. The drive to do things is wearing on me half the time. With that said, I would be looking at a majority of pre-owned homes to be in the area I want to be in. I bought too far out this first time. First time buyer mistake you can say, but I have been making the best of it. [link] [comments] |
| Posted: 18 Mar 2021 09:31 AM PDT So I had this issue with a realtor where we had scheduled a meet to tour some houses. Long story short, he or his agents didn't contact me at all the day of and I decided to write a bad review in Zillow. He then replies days later that his agents tried contacting by they couldn't reach me. Is it worth exposing him by editing my review with some facts he stated in a voicemail he left me? This is in CA [link] [comments] |
| Seller discloses bankruptcy day before closing (PA) Posted: 17 Mar 2021 09:07 PM PDT I put in an offer on an investment home that we found on the MLS in Philadelphia. This offer was accepted and we proceeded down the line with financing, title, earnest money,etc… The day before we were to close the seller informed me he was in bankruptcy (Ch 7) and couldn't close. Closing was pushed back because courts needed to approve the deal. I read the last court filings and it asks the seller to find a deal. The deal fell through in the courts. I was told they took a cash offer. I contacted a real estate lawyer but again it seems at this point I'd be digging a bigger hole retaining him. My question are 1. How can my signed agreement be dismissed like that? 2. Who is responsible for my expenses incurred? I know most people will say that the seller is responsible for my expenses and I agree. But it would be very difficult to collect from someone who is in bankruptcy and not worth my time. [link] [comments] |
| First Time Home Buyer; First Time Father Posted: 18 Mar 2021 08:55 AM PDT Hello all, with my wife and I expecting our first child in the next few months, we are starting to think about moving on from the rental world and on to owning our first home. That being said, with the housing market as is, there is a lot of uncertainty on our part. Ultimately my wife is wanting to quit her job to stay home and raise our child, so within the next 3 months, we will be down 33K in income. As such, we are really feeling the pinch to purchase now while we are able to use her income on the loan application. I've looked over our finances already, so I know what we can afford. I'm currently making 76K a year in the DC area and am looking for a max monthly payment of $1500 in rent. With 2 car payments and a small amount of credit card debt, this is do-able, but I'm not sure whether we would be approved for a 280K house once we lose my wife's income. Even if we are approved, I would imagine the interest rate would be higher due to a reduced debt to income ratio. At this point, since prices are ridiculously high all around, we are considering just going for a new build, since we won't have to deal with the bidding mania that seems to be happening on every house. Additionally, since prices are already high for pre-owned homes, our thinking is that buying new may offset those high prices. Of course this comes with build times, and there is no guarantee a house would be finished before my wife's maternity leave is up. I'm looking for any advice you all may have for our situation. Being a first time home buyer in any market is daunting, but this post COVID market is debilitating. [link] [comments] |
| Posted: 17 Mar 2021 07:18 PM PDT 2020 was a bad year to start shopping to buy a home, but It seems that each of my several realtors over the past year keep telling me that availability is about to blow up "soon". Yet here I am, mid-march and it seems that the market is drier than ever. I am actually quite fortunate that I have a rental place to stay at that is really nice and still really cheap, but I would very much like to buy a house and get my life moving along a bit. But I'll be damned if I'm dropping 315K+ on a 900 sq ft home on a 3000 sq ft lot. Can I rely on more stuff popping up or hopefully exploding onto the market this summer after the extension? [link] [comments] |
| Suddenly most listing show as “owned by zillow”? Posted: 18 Mar 2021 08:44 AM PDT So... we are essentially trying to get on wait lists for lots available in 6-8 months in our area to build in a master planned community. That hasn't stopped our regular troll of Zillow, but... it seems like a TON of listings say "property owned/for sale by zillow" now?! I have maybe seen this once or twice ever until this last month, but now it feels really prevalent and it feels a little weird (is it?) - what's y'alls take? [link] [comments] |
| Should I file taxes solo this year if I plan to buy a house independently of my spouse? Posted: 17 Mar 2021 08:05 PM PDT My spouse has horrific credit and his income history is not helpful at all - I'm typically sole earner - so we mutually decided that when I mortgage a house I'm going to do everything in my name alone. I haven't filed 2020 taxes yet and I'm wondering if we should file separately (we normally file jointly) in preparation for this investment. I'm looking to buy within the next year. First-time home-buyer. Feel free to ask any questions that might help inform your answer, or to alert me to any additional things you think I should consider. Thanks! [link] [comments] |
| Posted: 17 Mar 2021 03:08 PM PDT I know this is a somewhat different post considering the state of the market right now, but I was wondering if anyone know of a book that can explain the whole process of mortgages and the financials behind it. I know it sounds like a simple topic at first, but I started diving into Fannie and Freddie and there is so much deep information that I dont understand. For example:
etc. Any advice would be great! [link] [comments] |
| Posted: 18 Mar 2021 07:45 AM PDT I'm considering building and I've found a community I'm interested in. There is really only one floor plan I really like and the issue is that it's within my budget but on the high end, with only two bedrooms. There is a flex room on the first floor and an optional add-on is to change this to a third bedroom. Can anyone give me a rough estimate of how much it usually costs to convert a flex room into a third bedroom on a new build? IE how much it will cause the starting price to go up? For reference, the build starts at $330k. I'm hesitate to contact them directly to ask. I've reached out to different builders in a different community to ask this, and just kept getting pressured to come in to talk with follow-up calls and emails. [link] [comments] |
| Reasonable Inspection fee SFH nova Posted: 18 Mar 2021 07:44 AM PDT How much should I expect a reasonable home inspection fee should be for a SFH between 3000-4500 sqft in northern Virginia? [link] [comments] |
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