Real Estate: Here is how we landed our DREAM home in this market! |
- Here is how we landed our DREAM home in this market!
- Everything Wrong With This Market in One Listing (Southern California)
- New neighbor wants to build driveway and regrade which floods my property.
- The Bank of Canada is seeing worrying signs that some Canadians are taking on too much debt to buy into the nation’s hot housing market.
- What is it about housing and real estate that bring out the worst in people?
- Radon Gas
- Is this some sort of conflict of interest?
- Price differences between builders
- Is the old sellers agent trying to drum up business, or is there anything else going on?
- Single family home or duplex
- Home inspection report?
- What are the best ways to find a lender for mortgage pre approval ?
- Refinancing and curious what the potential outcomes would be at the high/low ends of the appraisal
- Backing out of a purchase
- First time home buyer advice
- Abstract company made no progress for 3 weeks
- Need advice on dual agent situation
- Lumber prices & building material costs warrant delaying garage conversion? (TX)
- Title change question
- Which is better buying a smaller and older condo in the city or a bigger and newer place in suburbs?
- There are some homes available for sale in my area
- How do you stay in touch with prospects?
- What signs do we have that the market will be any better for buyers in 6-24 months?
- Tile or carpet?
| Here is how we landed our DREAM home in this market! Posted: 01 Apr 2021 05:52 PM PDT With all the negativity here, I wanted to share some good news. Been looking for about 6 months in this market and FINALLY our 6th offer was accepted! Here is how we did it:
That's all it takes to win in this market. Please stop the complaining. >! HAPPY APRIL FOOLS /r/RealEstate!!!!!! !< [link] [comments] |
| Everything Wrong With This Market in One Listing (Southern California) Posted: 01 Apr 2021 10:42 PM PDT https://www.redfin.com/CA/Long-Beach/310-E-Hullett-St-90805/home/7513181 Take a look at this listing. Look at the sale history. https://www.redfin.com/CA/Long-Beach/310-E-Hullett-St-90805/home/7513181#property-history Someone closed on this home two days ago for 510K and immediately relisted it for 610k. The home is terrible, I looked at it. They did as good a job as possible to present it nicely but this is a terrible home in a pretty rough section of Long Beach. Somehow they believe that the market supports this kind of flipping. There was no reno or remodel on this home no investment other than the cash to buy it. The crazy thing about this market is someone will probably still buy this home because of interest rate FOMO. There's plenty of really nice small homes in North Long Beach in much better condition: https://www.redfin.com/CA/Long-Beach/6555-Falcon-Ave-90805/home/7506800 https://www.redfin.com/CA/Long-Beach/6042-Gundry-Ave-90805/home/7510656 I feel like we've gone from excessive to hubris at this point. [link] [comments] |
| New neighbor wants to build driveway and regrade which floods my property. Posted: 02 Apr 2021 01:23 AM PDT I have a new next door neighbor that moved in. We both have front side lawns that don't have any fences so it's one big lawn with the property line through the middle. I was outside and saw my neighbor bringing contractors over to have his side of the lawn tore out to extend his driveway and build a basketball court right on the property line. He also said he wanted to regrade and flatten the land so his driveway would be flat. All of the the driveways have a slope since the houses are higher than the street. My neighbor's house is higher than mine and we have some flooding in the backyard. He has never spoken to me about this and never got the land surveyed. Last week, I got the property surveyed and they put wooden stakes in the lawn. I also got surveillance cameras installed to watch my side of the lawn. My neighbor had a contractor come out today and they discussed regrading and raising his land so his driveway will be flatter. The contractor also said he would have a 2% slope down into my yard so the water will run off into my house and lawn and away from his driveway. I got it all on camera and recorded their conversation. The contractor also walked past the wooden stakes about 6 feet into my yard and measured from there. I'm not happy about this and I assume he didn't want to talk to me about this because it's going to drain water from his driveway into my house. Where do I go from here? Do I contact the city? Talk to a lawyer? He hasn't done any work, but I assume he is serious based on the number of contractors he is getting quotes from. Located in US [link] [comments] |
| Posted: 01 Apr 2021 05:27 PM PDT
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| What is it about housing and real estate that bring out the worst in people? Posted: 02 Apr 2021 07:53 AM PDT It's been eye-opening for us ever since we got our house. We live in a super high-demand area so getting a house in this area is quite a Herculean task, especially since we want to stay closer to the city as we both hate commuting. Anyway, this whole experience really shows the true color of some of our friends. Many are so encouraging and genuinely happy for us. But many others made snarky comments ("how did you afford this?" "did you get help from your parents?" "why would you pay so much for such a small house? Go farther out - you could get something three times this big"). This week was the straw that broke the camel's back for me. A good friend from work (who has been kind of weird throughout our house-hunting journey so far - just generally making super weird and insecure comments about how "rich" people in our area are) found out we got the house 3 months ago. I avoided telling them because I knew there would be drama. Sure enough, silent treatment all week. This person is not in a bad spot by any means btw. They just have a house much further out - like an hour commute and not close to anything. It's a super nice house much bigger than ours, it's just in a far far away location. And they are a one income household - one spouse doesn't work. They seem insecure about that too and hid that for a long time - which I don't understand either but throwing in this detail to help everyone understand this person's psyche a little bit... Anyway, just so much seething and silence and passive aggression coming from them, all because I committed the deadly sin of getting a house in a vibrant area. I know some folks are gonna tell me that this is not my real friend, which is probably true. It's just sad - we get along pretty well otherwise. Like why can't everyone just be happy for everyone else - we all make different choices. My choice doesn't invalidate anyone else's choice... Rant over. Thanks for listening... [link] [comments] |
| Posted: 02 Apr 2021 07:44 AM PDT Hey, everyone. My family and I have been temporarily living in a finished basement apartment in Staten Island going in two years now. It was supposed to only be for one year, but our lease was over during the middle of lockdown from covid so it was hard for us to move. As a result, we had to renew our lease, but we're so determined to move out this year even if it means moving in my in-laws lol. Our basement apartment is pretty nice. Other than a giant black pipe in my sons' spare closet that leads to a loose wood plank in the ground, it's pretty much seems like a regular apartment. We have our own door to go outside and everything. However, radon gas was something that was brought to my attention around the time we renewed our lease. I looked it up online and it states that staten island typically has low levels of radon gas, but I'm so worried that we've been living in an apartment for two years that could have been exposing us. I even read something about problems can develop in 5 to 25 years or something like that? I feel like there is nothing I can do now about it since we will be leaving in the summer, but it's so much on my mind. What are your thoughts on this? Would love some feedback. [link] [comments] |
| Is this some sort of conflict of interest? Posted: 02 Apr 2021 07:01 AM PDT Our house is on the market for 90k. It's a 3 bed, 1 bath house in a great little neighborhood by our local park. We priced it so it will sell fast because we are in contract with a house we are buying. We were under contract a few weeks ago but their financing fell through. We quickly got back in contract with someone, this time with a conventional loan. These buyers used the inspection report from the first buyers (our realtor made it available to potential buyers so this process can move quickly because we are ready to close on the home we are buying). Anyways, the new buyers said they would like us to repair the same things on the previous buyers list. We did this Monday. We signed a contingency that they can have someone come check the repair list to make sure it was completed. Now here is where it gets confusing. Our buyers realtor is her aunt. The realtors husband (buyers uncle) is a contractor. He was the one who wanted to come "verify" that our contractor made the repairs. Okay no big deal. Well when he comes he checks everything and says we fixed everything on the list. We then get a text from our realtor stating they are now also requesting that we put a sump pump in our crawl space and gutters on the back porch with drainage to the street. They already had the appraisal and it went fine. These things aren't needed for their financing, it's just something the realtors husband thinks the house needs and they are requesting it now. They have a plumber coming today to give an estimate and we don't know what is really going on. Our worry is that the uncle/realtors husband/contractor is going to keep "checking" things and adding more and more to this list. We think we might give an allowance towards the plumber, but we aren't sure on how much. Like I said, this is not a requirement for their bank. It was something extra this guy added AFTER we already made the repairs on their contingency list. We feel as if we aren't in control in this at all. Our realtor just keeps telling us we have to wait and see what they say. I just feel like our house is priced low enough that any of these additional repairs buyers want to make, they should make on their own after purchasing. [link] [comments] |
| Price differences between builders Posted: 02 Apr 2021 06:57 AM PDT In a new development, there are different builders. About 4 are building homes priced in the lowest range. Of those, the builder using a modern style (vs traditional) exterior is asking significantly higher for the same or smaller square foot houses. All of the homes look great inside and have similar floor plans. There are other pockets of the neighborhood where houses can sell for around $200k higher with the same square footage as the lowest priced homes. While all of the homes exteriors look great, these look particularly gorgeous with a classic modern style. The other difference is these houses have wider yards likely by about 10 feet. The interiors seem to have the same quality as others with maybe more upgraded floors and a few other things but not significantly better in my view than the interiors in the other houses. All of the houses are zoned to great schools and all of them look great. The neighborhood is excellent. My question is, at some point will the houses priced lower have greater upward movement if they have the same square footage and nice interiors? [link] [comments] |
| Is the old sellers agent trying to drum up business, or is there anything else going on? Posted: 02 Apr 2021 09:45 AM PDT Bought last summer. No problems, smooth process, never met the sellers agent. This week I've had 9 missed calls from an unknown number. Called number back after the first few (given my job, I do have to follow up on unknown calls) and got recording for the sellers agent voicemail. Thought it was odd, but it keeps happening. 9 calls in total this week. Should I just block the number at this point? Report to the broker? Do nothing? Is there any reason for her to be contacting me besides cold calling, looking for business? [link] [comments] |
| Posted: 02 Apr 2021 09:35 AM PDT Fthb and I'm planning on taking advantage of down payment assistance program. Do I want to get a rental property right off the bat or do I wait to do that in a few years. Looking at nice duplex for 200k no garage, laundry in each unit blocks away from downtown and a major park vs single family home 3 stall garage also close to downtown but on the other side closer to the industrial part of town $107k. (No problem, currently own a business that we rent out a space for so having a 3 stall garage in that part of town is also beneficial). I'm tired of being in an apartment so will I resent that I moved to another apartment, just one that I own, if I get the duplex (one without a garage) or should I start building my portfolio early and get the duplex? Neither is the forever home. I guess I'm worried about the down payment on the second property I get as well but that's a few years away. [link] [comments] |
| Posted: 02 Apr 2021 09:30 AM PDT Hello, Before I upload anything, I wanted to check if it would be wise or helpful for me to upload my home inspection report I just need someone with a keen expert eye to look at it for feedback. I'm on the hunt and got approval for a house purchase in Virginia. Please let me know if this is the right subreddit for this sort of thing, or guide me in the right direction. Thanks! [link] [comments] |
| What are the best ways to find a lender for mortgage pre approval ? Posted: 02 Apr 2021 09:25 AM PDT I am planning to buy a house and started getting the information about Realtors from my friends and coworkers. I am looking to find a lender for mortgage pre approval. Should I just go directly to my bank (chase)? What are my options. Thanks [link] [comments] |
| Refinancing and curious what the potential outcomes would be at the high/low ends of the appraisal Posted: 02 Apr 2021 05:37 AM PDT If my house is appraised low I'm guessing the refinance would simply not proceed? Could anything worse happen, such as my lender now being aware that the property they were already mortgaging to me is now worth significantly less? If appraised much higher than I expect, would I see any benefit? Or is this simply what allows the refinance to proceed? [link] [comments] |
| Posted: 02 Apr 2021 09:22 AM PDT I made an offer on a house in WV and I was, and am happy with the house itself, but the more I drive around the neighbourhood the more I dislike it. At this point the seller and I have signed the purchase agreement (5 days ago) and I am still in the 14 day inspection window. The house will be inspected on Monday, but I dont want to waste the sellers time nor do I want them to miss out on potential buyers between now and Monday on a house I no longer want. Should I be up front and say that I just don't like the neighbourhood or should I wait till the inspection and back out after that? Can backing out at this point result in any legal ramifications? Note: I am fine if the seller keeps the earnest money. I think it would make me feel better for backing out of a deal they expected [link] [comments] |
| Posted: 02 Apr 2021 09:10 AM PDT Hey everyone! Me and my fiancé currently live in a 2 bedroom apartment with our son. Our rent is currently $895 a month which isn't bad at all. Starting in May though, our rates are being bumped up to $1,015 a month, which is a pretty decent increase. We are going to do month to month payments because we would like to get a house sometime this year. My question is what do they really look at when getting pre approved for a home? I am currently the only one working in our household as she stays at home with our son. We can easily afford a $2-300 a month more for a house payment and have $10-15,000 to put down on a house. My credit score is over 700 also. I just want some advice on what I should be expected to be asked about when getting pre approved for a home [link] [comments] |
| Abstract company made no progress for 3 weeks Posted: 02 Apr 2021 09:05 AM PDT The abstract went untouched for 3 weeks at the "Abstract Company" and is now being put on "fast-track" due to their error. I am just beyond frustrated. Does anyone have any insight on this? [link] [comments] |
| Need advice on dual agent situation Posted: 02 Apr 2021 02:56 AM PDT So this is a bit of a weird situation (at least from what I've experienced before). My husband and I live in Kansas City, MO and are planning a move to Salem, OR later this year. We have a lot reserved in a new neighborhood and are waiting for the estimated build timeline. Multiple houses in our current neighborhood have sold recently (most within a week of listing). We recently got a letter from an agent working with a couple that put an offer in on one of those houses but didn't get the house. They really want to be in our specific neighborhood and were trying to see if anyone was planning on selling. They know we won't be ready to leave for several months but made an offer anyway. The agent is offering to take just the 3% buyers fee. This all just feels slightly sketchy to us. We bought the house brand new in 2018 for $244,000 and have since spent a fair bit of money completely finishing the basement and doing other upgrades. We don't have a good idea of its value, but are awaiting the results of an appraisal we recently had done. The buyer's agent is basing their offer ($295,000) off of the 2 most recent sales nearby. Both of which are older (4-11 years older) and have fewer bed/baths. They sold for ~$270,000-$290,000. Long story short, we are real estate novices but think this approach seems risky. Can anyone offer advice? Is an appraisal adequate for us to feel comfortable settling on a price? [link] [comments] |
| Lumber prices & building material costs warrant delaying garage conversion? (TX) Posted: 02 Apr 2021 08:48 AM PDT I would like to convert my detached garage to a living space/apartment. I know since the pandemic began, supply chains have been disrupted and building materials, especially lumber has skyrocketed. I've read conflicting reports as to the reasons why (some say there is actually a glut of wood itself, but not enough mill capacity to process the lumber, etc). So, my question to y'all is: Can we expect these lumber/material costs to soften anytime soon, or are we at a new permanent plateau for costs? Basically, should I maybe delay this conversion/expansion project 6-12 months to save money? Or prices be damned, I should proceed anyway because I'd be missing out on lost revenue (from renting it out)? Thanks! [link] [comments] |
| Posted: 02 Apr 2021 08:33 AM PDT I am the trustee for niece/nephews trusts made by my mom. I want to use the money to buy a house. I will need to kick in some of my own money. I want to minimize confusion on the transaction so I'm wondering..... can I buy the house and put title in my name only initially and change title later? Here is what I want to do. Make the offer with me only as the buyer. It's an all cash offer so I don't know if seller or title company care where the funds come from. At time of closing wire in funds from trusts and myself. I would be 100% owner. Then after closing I want to record a deed transferring 23% own ship to each trust (there are 4)for a total of 92%, I would keep 8% ownership. Can I do that without any tax consequences or other complication? Thanks for any advice. [link] [comments] |
| Which is better buying a smaller and older condo in the city or a bigger and newer place in suburbs? Posted: 02 Apr 2021 04:47 AM PDT First time posting here. I have a question about my situation and would like to hear any recommendations and your experience. Me (24M) and my gf (25f) are thinking about buying a place together this year. We are in europe and the housing market is similarly bad as the other posts here say, prices rising every year and interest rates around 1%. We earn about 30k net/year and are looking for a place up to 240k. We are thinking about having kids in the upcoming 2-3 years. The thing is that 240k only gets us an older(40year old building) 2 bedroom condo in the city, which would be walking distance from my job and about 10-15 minutes drive from my girlfriends job, but it would be on the smaller side and an older building. The other possibility is to buy half a duplex in the suburbs. These are 3 bed, 2 bath places which are a lot bigger with some small garden space, but the rush hour commute can be 1 hour one-way. We are kind of paralyzed by this decision can't decide what would be better for us. We are working from home ATM, but probably will have to go back to offices soon. We are renting a small 1 room condo now and we like being in the city. I guess my question what would you do in our situation and what are your experiences with living in the city vs. suburbs. Thanks [link] [comments] |
| There are some homes available for sale in my area Posted: 02 Apr 2021 08:30 AM PDT No this is not an April's fools joke. All the inventory in my area that is available and has been available for a few weeks now is over $1,000,000 and up to $3,000,000 anything under only two homes in the $700,000 range which will probably $100k over asking. I bought my home in December 2020 and I thought inventory was bad then, its only getting worse. Nothing under $700,000 for a few weeks now. [link] [comments] |
| How do you stay in touch with prospects? Posted: 02 Apr 2021 08:09 AM PDT I've met with a few dozen of home owners who are thinking about putting their home on the market some time in the near future. At first I was spending a lot of my time sending them updates in their local market such as new homes popping up on the market near them but with the amount of leads I have now it would take way to much time. I've come to the realization I cant make my emails as personal as I would like. What are some ways you would recommend I stay in touch with my potential sellers with relevant information? Some things I was hoping existed is a way to send emails of mortgage rate changes and local real estate market statistics. I know I can get this information from the MLS and send it to people individually but I would like a program that does it automatically. Do you know of any programs that do this? (P.S. I have been an agent since October 2020, so I'm new. ) [link] [comments] |
| What signs do we have that the market will be any better for buyers in 6-24 months? Posted: 01 Apr 2021 04:52 PM PDT For every stat that I can find about the housing market being crazy, my girlfriend can find one that says "it's not going to get any better, we need to just bite the bullet now and get it over with". Even if interest rates go back up, prices will come down. That doesn't really affect the affordibility of homes for families. Why would supply/demand change next 24 months other than through the positive side effects of vaccinations? [link] [comments] |
| Posted: 02 Apr 2021 07:23 AM PDT We have just gone under contract with a new construction home. We definitely can't afford to upgrade to hardwood floors. We either have to stick to carpet or we could choose tile for the 1st floor. Plan would be to put in hardwood ourselves later. Any recommendations based off personal experience? We are building with Meritage Homes. [link] [comments] |
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