Real Estate: Sale by owner listing shows .99 acres, but county assessor shows .76. How can I find the correct lot size? |
- Sale by owner listing shows .99 acres, but county assessor shows .76. How can I find the correct lot size?
- Wtf is going on with the market?
- Is it hopeless to buy a house now for those who are middle class?
- Listing Photos Bad?
- Will today's mortgage borrowers be able to refinance in the future?
- Buying Houses with little money
- Invalid judgement found during closing, what to do?
- Building up wall on shared property line
- questions to ask seller, without an inspection
- Under contract in OC, CA - few thoughts..
- Is a porch a good investment?
- Will property taxes become a problem for homeowners in the future?
- Can I loan money for down payment to family member I'm selling my house to?
- Should I sell? (under 2 years of ownership, NY)
- Island Ranges
- Anybody looking to purchase a home in Dallas?
- Do I need a real estate attorney?
- Subletting Question
- Would this type of mortgage fraud be prosecuted?
- Offer accepted
- better unit will be vacant, feeling bad i'm not offering it to my friend
- FIRST TIME homebuyers New Construction Mortgage questions
- Are pre-approvals based you selling your current house or how much cash you have before selling?
- Sales team says they are not able to provide copy of Appraisal?
| Posted: 03 Mar 2021 04:49 AM PST The owner owns an adjacent lot and I'm not sure if that's factored into the approximate acreage listed, but both lots combined are around 1.6 acres. This is a new one for me. [link] [comments] |
| Wtf is going on with the market? Posted: 02 Mar 2021 08:17 PM PST We live in a nice well desired area... That noone that owns wants to sell. Schools are awesome etc. We got a Rea estate agent knocking in our door mentioning that a couple was interested in our home and wanted to pay 50k over appraised value all cash waiving inspection etc. BTW this was a legit real estate agency and I knew the lady that knocked on our door - she is friend of a friend. What is going on? Is the market that hot? Its unbelievable. [link] [comments] |
| Is it hopeless to buy a house now for those who are middle class? Posted: 03 Mar 2021 10:36 AM PST My husband and I were hoping to buy a house this summer, we have the 20 percent down payment. However, everything I'm hearing and reading about is extremely bleak. Bidding wars, houses getting multiple offers within hours of being listed, people offering to buy homes outright and over asking price. This seems to be a problem everywhere. Is there any point of even trying? I'm worried that since we only have 20 percent down payment, we aren't going to stand a chance against the people who are buying outright or over asking price. What are our chances of finding a reasonably priced house? Is this going to get better? Should we wait until next year? [link] [comments] |
| Posted: 03 Mar 2021 07:36 AM PST Can someone explain to me--agents, please chime in. I see so many listings online in my area, where the clients have all kinds of unsightly issues in their house that are visable for all to see. If I am hiring an agent for their expertise, and the houses could sell for more, and faster if they just cleaned up their shit??? Can someone explain to me, why listing agents put these kind of pictures online? If I saw an agent's awful pictures on someone else's listing photo, that would deter me from hiring them because I think they are bad at marketing the property.
This irks me so much that agents are putting listing photos online and are not telling their clients to at least remove those items temporarily for the listing photos. I think buyers can deal with paint, and some touches of home that someone lives there. But really. I see so many cluttered pictures with crap everywhere and it is distracting. [link] [comments] |
| Will today's mortgage borrowers be able to refinance in the future? Posted: 03 Mar 2021 08:30 AM PST Rates typically have to drop at least ~0.75% for the fees of refinancing to be worth it. With rates at historic lows, will today's borrowers have that opportunity? If people can't refinance, What would the long-term impacts be on the real estate market? [link] [comments] |
| Buying Houses with little money Posted: 03 Mar 2021 09:48 AM PST Hello I am fairly new into my professional / independent life and I apologize if I come across as ignorant. I recently purchased a home and the process was fairly challenging as I needed to make sure all my finances were in order and needed to make sure I could afford putting a down payment and also keep up with withe monthly payments. The circumstances of the housing market today has house prices, especially in my area, at an all time high with an all time low in inventory. Its very common to see a property that was recently listed, sold 50K above list price and only within a week. Question is i do not understand how people with an income lower than mine are able to secure loans and purchase houses 3-4 times their income and how people are able to secure so much cash to purchase homes at record prices when almost 40% of Americans report no savings in the bank and millions struggling to make ends meet during the pandemic. Please let me know if there is a secret that I am missing. [link] [comments] |
| Invalid judgement found during closing, what to do? Posted: 03 Mar 2021 07:13 AM PST I'm selling my first investment property and am currently under contract. A judgement was found during the title search that I was unaware of and turns out that it was filed due to a clerical error made by the court. My attorney and I are working to get this resolved as fast as possible, unfortunately nothing with the court is fast and I am afraid I won't be able to clear this up prior to closing. Does anyone here have helpful advice? As a seller, what are my responsibilities if this kills the deal? [link] [comments] |
| Building up wall on shared property line Posted: 03 Mar 2021 09:00 AM PST I have a property next to an apartment building owned by a corporation. The building is probably about 50 units FWIW. There is a cinder block wall 3 feet tall on the property line between our buildings. I'd like to build it up to 6 feet for privacy. (I have a back unit that walks along that path to the front). My three options seem to be:
I'm leaning towards #2 but anyone have experience with this situation and knows a different/better method? [link] [comments] |
| questions to ask seller, without an inspection Posted: 03 Mar 2021 05:01 AM PST We bought a house, though we had to waive the inspection. Its def not ideal, but its just the way the market is around us right now. The disclosure didn't provide a lot of details that we needed when we contacted a home insurance agent. I wrote down questions, and my real estate agent said she'd send the questions to the seller. I think I wrote down most of the questions to ask. But otherwise, I'm wondering what are the key questions to ask a seller. We do plan to have an inspection after we get the keys. Again, I know not ideal. But I'm wondering what info we should get from the seller, and as we talk with home insurance agents. If someone has a link with a list of questions, that could also be helpful. Otherwise, I may just communicate questions I get from home insurance agents. Its also unclear how much detail a home insurance company needs. [link] [comments] |
| Under contract in OC, CA - few thoughts.. Posted: 03 Mar 2021 09:45 AM PST Just few of my thoughts here on how house buying is going for me here. First time HOUSE buyer. I always disliked fuzzy terminology used to usher buyers into spending more...on permitting this would be a "single family dwelling", a structure, house. Home is where the heart is. Anyway, I lived here for some time and had the same rent. Last years my lazy, increasingly asshole landlord called and said he needed money and people are snapping everything. He has few houses and wanted to cash this one out. Sure, it needs work, has some termite damage but hey, this is coastal socal and people have shit ton of money and who does not will do anything. I never owned a house but had reasonably good jobs, roommates and 15-20 year old (shitty) vehicles my whole life, excellent credit and no problem putting 20% down and securing a loan. We are currently under contract and I am in first look period. I wish I was just more stoked. People here bid on a house in total record market and get bid out and are in the dumps. I feel in the dumps purchasing a (effectively) condo townhouse for what is a lot of money for me. So far process has been okay but I lack any excitement over all this. And I may walk away. Now, before anyone starts salivating at the prospect of dumping their 100's of thousands cash - there is a very similar place to mine listed for 575k in south OC. I am sure everyone on here has their black belt when it comes to looking for houses. It started at 650k and quickly now it sits at 575. Where is that Orange County money loaded army to snap it up? It is way less than people here causally bring up (700k, etc). What has so far turned me off was; a) realization I am in AO zone and would need flood insurance. b) HOA. Hate HOA. They are total aholes and do not cover anything, which is pretty common around here. I think they called the money to build up their legal chest to sue residents for parking too long in front. Since I have been here resident had a branch fall and break tiles on their roof, HOA covered nothing. Their fees are few hundred and they do have a pool that is mobbed in the summer. c) everyone around me payed like 250-300k. I know. It's silly but it kinda bugs me to be "the guy" who paid twice as much for the place. I said it, silly. It also bugs me how everyone keeps congratulating me along the way on "buying the house". I did not buy anything, bank did it for me on my good credit and now I get to hand over the juice. However, I do not want to be negative - weather is great. It is safe. I already tossed so much cash into rent anyway. Still, if I was not stuck here with a job I enjoy and originally moved for, I would seriously reconsider it all. I watch IE market as well, and I do not think market will take a poop but it will level off and supply go up (like it is there). That said, I just do not see my situation being any better with 2 more trillion printed (okay, zeros on screen). People who are hanging it up, I would say, you'll be okay. It won't get a lot cheaper but likely will not go to the moon either. One thing that is awesome about CA is general optimism and people willingness to extend themselves very far. Super high risk tolerance place. Still, count cars in front of houses and you can tell how many locals can afford housing who did not buy their place years ago. Something may have to eventually give when generation younger than millenials had enough and boomers finally milk it all for what it was worth. Just few thoughts after a long day of inspections yesterday. GL everyone! [link] [comments] |
| Posted: 03 Mar 2021 11:25 AM PST I've owned my home about 3 years, and I've been going back and forth on getting a porch built or not. Recently several of my neighbors have built their porches, and it's making me a bit jealous. The problem I have is that I'm looking to change jobs in the next year. There's a good chance I'll be moving out of the area or thinking of buying a nicer house, so I'm likely going to sell my house. So do porches generally add value to a house? I got quoted at about $4,000 to build it. There's a good chance I'll only get 6-8 months of use out of it myself, so will it add enough value to my home to offset the cost of building? Or should I just pass? [link] [comments] |
| Will property taxes become a problem for homeowners in the future? Posted: 03 Mar 2021 09:11 AM PST My folks own several rental properties and the other day they got a letter showing a substantial increase in property taxes due to the high appreciation from last year. It had me thinking, will property taxes become an issue for homeowners in the future? We seem to be pretty leveraged as a whole as is and with rate of appreciation we are seeing, current mortgages are bound to increase. What do you guys think? [link] [comments] |
| Can I loan money for down payment to family member I'm selling my house to? Posted: 03 Mar 2021 06:50 AM PST Trying to sell my home to a family member below market, but they don't have cash for a down payment so having trouble qualifying. Since I'm selling below market, wouldn't there be a way to essentially provide the down payment for them? Like I sell to them for 300, and provide a no interest loan (or forgiveable loan or gift) that covers the down payment that helps them qualify? I know banks will look that over with some scrutiny, but I could provide whatever paperwork is needed. Is there a more creative way of doing this that I'm not thinking of? [link] [comments] |
| Should I sell? (under 2 years of ownership, NY) Posted: 03 Mar 2021 08:15 AM PST I actually posted about this right when covid started but starting to give it more thought as the markets only continued to get hotter. I own a 1,200 sq ft townhouse in a desirable location in the suburbs of NYC, and I'm in walking distance of the local high school (top 30 in the state). I purchased in Aug 2019 for $472k and put ~$25k into it. There haven't been a ton of units here go up, but the ones that have are listed $530k-$560k and are direct comps to mine. Of course I'll have to see what the ones listed currently actually sell for- but if they do fetch that high, is it worth moving? I love the area but I don't have children and don't see that happening in the years following, so the $11k+ in annual taxes is a killer. I also hate the strict HOA and the additional cost that brings. I'm already ready for more privacy, and space for my dog. I am now permanently remote at work so I have more flexibility to move elsewhere. This seems like an ideal opportunity to sell high and pick a better place for me long term. I'm lucky enough to have the option of living with family rent free in the interim, and would wait for the market to cool before purchasing again. My concerns are around the capital gains taxes I would face with under 2 years of ownership, as well as the hefty closing costs that I paid in 2019/ would be paying again in this transaction cutting into any real profitability. Realtor fees, attorney fees, etc. Lastly, I'm not sure how long this market will stay high for and the idea of staying with family for an extended time before being able to settle again is a little scary. Thoughts? Will the market stay high through August making the capital gains tax issue null? Am I thinking about this all wrong? [link] [comments] |
| Posted: 02 Mar 2021 02:20 PM PST I hate them and they make no sense to me. A large chunk of flips I see on the market have put the stove top in the island. Very often without a hood. Where does the grease go? Will the ceiling eventually turn color? Why would I want my kids, or guests, to get splashed with grease as they sit at the countertop? Is there anyone out there who actually likes this abomination? Rant over. [link] [comments] |
| Anybody looking to purchase a home in Dallas? Posted: 03 Mar 2021 08:02 AM PST We are currently looking to purchase a house in the North Dallas area (Carrollton, Lewisville, Frisco...) and it's been absolutely insane. We were looking at $380,000 ~ $400,000 homes but it seems like people are stacking $20~$50k on top of it. The market is so competitive right now and I'm not sure if it's even worth buying a home at this point. We have a baby who's about to walk and our apartment lease is coming up in July so we are in a time crunch. Should I wait until the market calms down (if it ever happens...)? What do you guys think about purchasing a townhome? Any advice is appreciated. [link] [comments] |
| Do I need a real estate attorney? Posted: 03 Mar 2021 05:13 AM PST I'm currently going through the process for a brand new construction (high-rise condo) in Washington, D.C. At this point, I need to put down an earnest money deposit of 5% but I have been given a boilerplate builder contract with terms favorable to the builder. This appears to be conventional. My real estate agent has told me (1) because he is not a lawyer, he is legally not allowed to interpret the contract for me; (2) I could hire a real estate attorney to make sure the contract is not wack; but that (2) even if I did, it's unlikely that the builder would have much leeway in terms of negotiating any of the important terms of the contract because it's pretty standard boilerplate. I read the contract myself and there is nothing that stands out as particularly unconscionable. Obviously having a lawyer will have its benefits (peace of mind, etc) but if the practical benefits (actually negotiating more favorable terms) are limited, is it worth the extra buck? [link] [comments] |
| Posted: 03 Mar 2021 09:31 AM PST Hello everyone, I've just got a quick question. I live in a two person apartment and my roommate wants to sublet their room in the summer, however, I do not feel comfortable with them subletting. So basically, my question is can one partner on a lease sublet without the permission of the other partner? This is in Ontario, Canada. Thanks [link] [comments] |
| Would this type of mortgage fraud be prosecuted? Posted: 03 Mar 2021 09:18 AM PST A few years ago I filled out a mortgage application and lied about income with altered paystub. I quickly realized how stupid this was and illegal and canceled the application well before it got to any underwriting process. Would this be something that I could get arrested for? Would the fbi investigate this type of mortgage fraud being I didn't actually get the loan? [link] [comments] |
| Posted: 03 Mar 2021 09:09 AM PST FINALLY, after a year of looking for the perfect home and multiple offers rejected we finally got one accepted. I know it's rough out there y'all. This entire process is is emotionally taxing especially with how the market has been. I have lost houses I loved, been in arguments with my s/o, cried and given up so many times. My number one problem is that I am no a patient person but this process is all about being patient. Here's what we did and a few things that I think might be helpful for anyone trying to buy a home right now. As soon as the house was listed and I saw it I called my realtor and said "get me in this house TODAY ASAP". We went and saw the house and decided to make an offer. Due to our experience with getting out bid we decided to go all in. We offered 6k over listing price along with covering all concessions. Here's what i think did the trick and it's no secret. WRITE A LETTER. When you are being shown a house, look around and find things that the current owner is into that you also have in common. For example, if you notice they have a little sewing studio, or a work bench in the garage, etc. or whatever you see that could be relatable to YOU. Find out from your realtor if a family lives there, a single lady, single man, etc. Use this to your advantage. For instance, our seller was an older single women with a cat (she clearly loved). Instantly I could relate. I also have cats and so I made sure to include a section in my letter about my rescue cats and how I felt like they would love being in that house. I even included pictures of my cats in the letter. You just really have to find a way to stand out an connect with the seller. I told her about my fiancé and I and how covid messed up our wedding plans, how we had a mold issue in our current townhouse that made my fiancé and one of my cats really sick. I completed her home and the fact she had taken such good care of it and that you could tell it was loved. I included a picture of my fiancé and I when he proposed. I pretty much just played into the fact that she was an older single lady. You pretty much have to suck up to the sellers but not in an overbearing way. Keep it short and sweet. Two other offers came in after ours and the LA asked if we wanted to revise our offer and if it was okay that the seller lease back the house 5 days after closing. We said she could stay there for five days after closing for free (another thing to stand out). We decided to keep our price the same. There were showings completely booked out for the weekend. At this point I did not feel confident we would get the house, seeing how many other people were interested and I thought for sure they would get a better offer than ours. The next afternoon we found out she accepted our offer and I almost died with excitement. Moral of the story, I think letters can be really important in helping you get a home. Just so long as you play your cards right. I'm not giving all the credit to my letter but I defiantly felt like it helped a lot. Good luck and godspeed. It's cut throat out there. [link] [comments] |
| better unit will be vacant, feeling bad i'm not offering it to my friend Posted: 03 Mar 2021 11:24 AM PST overall this post is just a rant to unload my brain on this whole issue. unit A = my friends unit unit B = my soon to be vacant unit So this will be a potentially rough year for me, 3/6 tenants did not renew, worse still one will be leaving prematurely (April vs July) and i wont get the lost rent back (2k loss, and reno costs to get unit ready on the market, half a months rent to find a tenant with the pm). I'm in a bind right now, pretty much i rent a basement unit (unit A 1 bedroom 2.5 unit) to my close friend who has pretty much helped me a lot through my real estate journey, with reno, mental support and construction advice. I know unit A is not the best for location unless you have a car, which he does not. yesterday i learned my unit B has signed a new lease and will just be abandoning with no care for the remaining contract. Unit B is a 4.5 3 bedroom unit, walking distance to my friends job and a shopping mall so much better location for him. My issue is his current unit is renting for 630, while this unit is renting for 650 i will try and get up to 750 for it. I know that renting that other unit B will be much easier as its bigger, and better location. Unit A, has always been my problem unit, 3 bad tenants in a row who i had to evict and lost money in the process. over the year since my friend moved in i've put in a good amount of money to fix it up: new floors, doors, knocked out a wall to make open concept, bathroom upgrades, heaters ect. pretty much make him happy to stay there. im worried the only tenant i can find is another landlords problem tenant, and the cycle will start again, and with the high vacancy this year i'll get the bottom of the barrel. fringe benefits, i can get to unit A in about 1hr by bus, theirs a nice back yard we chill and bbq in the summer, he acts like a PM for me there when theirs issues. unit B is 1.5 hours from my place by bus, its maintained by a PM so kind of pointless if i have my friend living there. the counter argument could be, if he moves in he doesn't mind rehabbing the unit him self, if i pay for materials, so i save on that. Maybe he could just help me find a new tenant to take over his lease. So now i feel guilty, i know he would be much happier having a bigger unit, and usually i confide in him, but i don't want to bring this up. i sent him the rent increase form, which he verbally said he got, i don't have it signed, but legally its been over 30 days so its accepted. what would you do in my situation? [link] [comments] |
| FIRST TIME homebuyers New Construction Mortgage questions Posted: 03 Mar 2021 11:11 AM PST Hi I am looking to buy a new construction townhouse and we just got our final revision of the Purchase and Sale to sign. We have our 10% downpayment ready to provide when we sign. The date of signing P&S would be 3/2/21 after giving our initial deposit one month ago and got our preapproval letter to go forward to Purchase and Sale. In the P&S the Mortgage Contingency date is 3/23/21 (basically 20 days/3 weeks away). From everything I have read, there is no way that the mortgage application and underwriting will be done in this short of a time as it normally takes 30-40 days. Do we ask for an extension already on that date? How long is average to get extended? Also, during the signing of our P&S the sellers surprised us by pushing our closing date back from 7/15/21 to 8/12/21 before construction has really even begun. We are also having issues picking who to go with for our mortgage as we have no experience in this area (we didn't love the lenders who we got preapproved with but it was recommended by our realtor, who we also don't love) and all the lenders we have spoken to won't give us a rate this far out from our closing date?? But we're required to get our mortgage commitment so soon??? How does everyone else handle this. Please help as we're so confused and our family has no experience to help us [link] [comments] |
| Are pre-approvals based you selling your current house or how much cash you have before selling? Posted: 03 Mar 2021 10:56 AM PST Besides people who can afford two mortgages or have a large sum of money in the bank, lets say Bob literally only has 20k in his bank before selling his house. Lets say he thinks based on a realistic sales price of his current house, he would net another 20k in his pocket after selling his current house. He tells the lender he wants to put down 20 percent on his next home. Does the bank pre-approve him to buy a 100k house (lender gives 80k), or does the lender cross their fingers and hopes he does net an additional 20k from the sale of his current house and pre-approve him for a 200k mortgage, where he puts down 40k (20% down payment) and the lender will put down 160k. [link] [comments] |
| Sales team says they are not able to provide copy of Appraisal? Posted: 03 Mar 2021 10:34 AM PST We are buying a new build and we were told the appraisal came in around $20k below loan amount. They submitted one ROV and was rejected and are submitting another with more comps that should help. We asked what the the difference is from the appraisal and they are saying they can't share that with us until the ROV results come back. Is this correct? [link] [comments] |
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