Real Estate: Inexpensive, turn-key property in your area for sale! |
- Inexpensive, turn-key property in your area for sale!
- Putting my 8th offer in. Please wish me luck!
- Sellers have not vacated property
- Berkeley home sells for $1 million over the asking price
- Is the end of work from home already here?
- My Colorado lake house miracle
- Are appraisals taking into consideration price increases over the last few months?
- What's better for rental property in master bathroom? Larger Shower or Tub/Shower combo?
- Selling after just buying a condo 2 months ago
- What are the downsides to a mortgage forbearance?
- How serious are these electrical issues? (VA)
- (US) How do I know I'm getting a good rate?
- In a pickle - sell or rent?
- House listed as lot/land?
- Good stories?
- We want to do work on a house before moving in. What qualifies as primary residence?
- Real Estate Agents : What does your clientele demographic look like?
- Gas or electric stovetop better for rental property?
- Does writing a letter to the seller when making an offer , really make a difference? Could it help? Or is it one of those things that is “worth a try”?
- Self employed/home loan question
- Recently purchased home, immediately notice of encroachment due to retaining wall
- Is there a way to determine the property tax in a particular area, especially for new builds? We got priced out of a house because of Mello-Roos and can't find a tool that can help us accurately estimate property taxes on new builds and newly developing areas?
- Dumb question about VA mortgage loan pre-approval from a FTHB
- Thoughts on how StarLink affects value of homes in areas that only have satellite internet?
| Inexpensive, turn-key property in your area for sale! Posted: |
| Putting my 8th offer in. Please wish me luck! Posted: This is my third season in a row house hunting. I know the market is terrible for a first time home buyer, but I am just soooo sick of apartment living. I just want to be able to step outside on a deck with a cup of coffee in the morning. Anyway, the details: This is a detached condo, but looks like a free standing house. Small HOA fee (relatively speaking) of $170 monthly. Very nice, quiet neighborhood. Inside has a beautiful updated large kitchen, 2 newly updated bathrooms, 4 bedrooms and a finished basement. Its turn key, which means it'll probably get 50 or more offers in my area. I don't have much hope because I can't pull the tricks that these other people can. Its listed for $295k. I'm going to offer $330K. 10% down, conventional loan. I will not ask for kickbacks for closing, and I will waive inspection (I know- but I need to give myself a chance). I'm also going to write a letter and hope they care. All it is going to take is one of the other 50 offers to come in and offer 50% down, or full cash, and I'm done. I need a miracle. [link] [comments] |
| Sellers have not vacated property Posted: Hi All, I can't believe this is happening but I closed last Friday with a 5 day rent back and was supposed to be getting keys tomorrow, but I just learned the sellers are not moved out. They waited until now to tell me that their own escrow had some hold-ups and they won't be ready to leave until Sunday at the earliest, but no guarantees. The sellers realtor stopped answering his phone. What should I do? I think they are actually planning to move out but nothing is certain anymore. Should I lawyer up immediately? They are telling me they will back pay rent. I had scheduled deliveries and plans for tomorrow... Edit: this is in CA I requested the sellers contact me directly and they did. Apparently this has to do with delays in their own purchase but never communicated it. They're telling me they will hopefully close their purchase end of this week so I can take possession Monday. I don't think they are appreciating the magnitude of the fact that they are squatting come midnight tonight. It seems like this will resolve though. [link] [comments] |
| Berkeley home sells for $1 million over the asking price Posted: A Berkeley home just sold for double its asking price, an unusual feat even in an ultra-competitive market like the Bay Area. The mid-century house sold for $1 million over its asking price at $2.3 million and received 29 offers in 11 days. [link] [comments] |
| Is the end of work from home already here? Posted: I've come across a number of articles in the last day talking about return to work. Seems to suggest work from home may not be the big permanent thing it was touted as. There will be more of an expectation to be in the office. Tech people, work from home people, what's the word on the ground? Examples from Amazon and Google:
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[link] [comments] |
| My Colorado lake house miracle Posted: We did it! Closed today on a 1700 sq foot 3/3 on .34 acres literally on the shores of a major reservoir in the Colorado foothills 15 minutes outside of the hip college town where I work. Approved for 750 but looking around 650. Made three offers that did not work (and with significantly greater tradeoffs than this). My husband found a FSBO that wasn't on the MLS, listed for 700 and had sat for a week or so - we called our realtor, saw it, and our realtor came in person the next day to put in our offer. When our realtor got there, an agent was nailing up a sign! But we were "grandfathered" in since we saw it before and after some live action back and forth got under contract at 660, each side paying 1.5 commission, conventional loan with 5%, all contingencies intact (seller ended up crediting some repairs, we sweated the appraisal but it was fine). And then the calls started coming in based on the sign / MLS listing . . .too late. Lakefront, lake views, across from marina, backs to multiple trails, 20 minutes from my office, 15 minutes from town. Public water sewer and garbage collection. You can get internet and amazon. It's small and can use some touch ups cosmetically but after looking in and hearing about the experiences of others, just wanted to throw out that miracles can happen. Good luck out there! [link] [comments] |
| Are appraisals taking into consideration price increases over the last few months? Posted: I'll be ordering an appraisal soon for a home we've had an offer accepted on. I understand that generally they'll be looking at comparable homes that have sold over the last 6 months. Prices have risen dramatically over the last 2-3 months in my area. Will the appraiser take that into consideration? Houses that have sold near our new home sold closer to 5-8 months ago when prices were lower than what they're at today. Will they extend the distance that they look to find comparable homes if this is the case? Will they make adjustments just based on rising market prices across the board? Any and all insight is much appreciated! [link] [comments] |
| What's better for rental property in master bathroom? Larger Shower or Tub/Shower combo? Posted: I want to purchase am investment property to rent in the future. Do most rentees prefer a larger shower (walk in or with bench) or a shower/tub combo? (This is assuming there is already a tub in the other bathroom of the house.) Thanks ahead for the answers! Really appreciate it! :) [link] [comments] |
| Selling after just buying a condo 2 months ago Posted: I used the First Time Home Buyers program and my down payment was only 3%, 4% interest, I got a $116k loan, bought the place for 120k. I ended up paying around 9 grand including closing costs. The HOA here is $327 so my monthly payment is about $1100. Unfortunately I have already had some issues with my neighbors. I lived in an apt for 8 months before this with a wood structure and NEVER had complaints about noise. This place is concrete, I've been moved in for a week and already had a knock at the door to turn my bass down and my speakers volume was at 10%, I'm not kidding. I just found this HOUSE for 220k, same square footage, but it's only a $33 a month for HOA. It has a big yard and it's a fucking house. I did the math and it'd be the SAME monthly payment. I feel like i made a huge mistake. I am 25 and everyone who lives in this community is retired and old. I redid the floors with a beautiful light gray LVP and light gray walls which was about $2.5k Im feeling pretty uncomfortable here now as it feels like any noise i make is heard by my neighbors, everything feels hollow. Would i be able to put this place up for sale even though i purchased it a little more than a month ago? Also I feel like i completely wasted my first time home buyers program, will i be able to receive the same benefits if i sell and try to buy the house? [link] [comments] |
| What are the downsides to a mortgage forbearance? Posted: A guy at work was telling me how he recently took the 6 month - 1 year forbearance on his mortgage because he wanted to remodel his basement for his kids who are moving back home. He bought the house in 2019 so not a lot of equity, but the contractors are financing the remodel with a monthly payment equal to his mortgage payment. He took the forbearance and is using the saved monthly mortgage payment to pay the contractors. He's been bragging about it saying "forbearance is like taking a loan from the mortgage company instead of the bank and with better repayment terms." There's gotta be some downside to this right? I know the amount owed is going to get added on to the end of his mortgage term. But aren't there other consequences of taking a forbearance when you don't need one? [link] [comments] |
| How serious are these electrical issues? (VA) Posted: Looking at buying a 1,020sf home built in 1974. The inspector included the following electrical issues in his report, and I'm just trying to get a sense of how serious these issues are and how costly this will be to repair: Panel, Breakers/Fuses, Grounding and Wire Type
Switches, Receptacles, Fixtures and AFCI/GFCI Circuits
I realize something like the screws are an easy fix, but the wiring in the crawlspace is my concern. He refers to it as a crawlspace because it has a dirt floor/walls, but it's basement size - has the water heater and air handler down there. Wires are hanging from the ceiling, and it looks like a bad DIY job, but I don't know if that's actually the case. [link] [comments] |
| (US) How do I know I'm getting a good rate? Posted: I'm not sure where to compare rates without giving some site my info which will result in 3,000 cold calls - and my Loan Agent offered us 3.375%. Which while a great rate all things considered historically is higher than I'm seeing on website ads (2.2%, etc.) Looking to buy in Oklahoma around 250-300 [link] [comments] |
| Posted: Alright... So I bought a 20-year old house with no money down in 2019 for $164,000. I am upgrading homes and can't decide if I want to rent this current home or sell it. Factors for rent - My PITI is $850 per month, I can rent it for $1600 per month guaranteed. Factors for selling - I owe $164,000 as I refinanced for a 2.25% in 2020; it comps at $245,000 currently ($81,000 gross profit in two years); the market feels like it's at it's peak; home is 20 years old and they just graded the lots next door to add 25 new construction homes that will be sold in the mid-to-high $200k's and are similar size. I am a firm believer in passive income through rentals, but something is telling me to sell before the new construction is listed and the market drops. My house and identical properties never sold for more than $170,000 before right now, even in 2006-2008. I can also pay off $20k in credit/consolidation debt if I sell and still walk with roughly $50,000 net profit. I would only have to pay buyer agent commission on a sale and it would be 2% due to who I know. I am in Florida. [link] [comments] |
| Posted: Hi all - I found a house that looks nice to me, but it's listed on Zillow as lot/land. The listing definitely includes the house - it's basically the whole description of the listing. Is this a red flag of some sort? Thank you! [link] [comments] |
| Posted: Does anyone have any good real estate stories? Like a story where things went smoothly, or as smoothly as they can go in this market? Idk about y'all but I would like to hear some hopeful stories of people buying [link] [comments] |
| We want to do work on a house before moving in. What qualifies as primary residence? Posted: We are looking at a house that has been sitting on the market because there is a lot of work that needs to be done. Honestly, I'm not even sure it will qualify for a mortgage right now. We have the cash so we could pay in cash, but we would rather hold on to as much cash as we can for renovations. Let's say the house does qualify for a conventional loan right now, what are the rules around primary residency? I know you need to move in within 60 days, but what if we are having work done on the house that takes longer than that? Can we have mail sent there and that qualifies? Do we have to sleep there for it to qualify? Would the lender understand if we were doing work on the house for a while? We are staying in a family member's house for free right now with no hurry to leave so it really would just depend on the mortgage. [link] [comments] |
| Real Estate Agents : What does your clientele demographic look like? Posted: This is one of the most speculative subreddits that I like to visit. I find it interesting/entertaining reading some of the different perspectives on future predictions and what not. That's not what this post is for though. Looking for first-hand accounts from Real Estate Agents on what your clientele demographic looks like and possibly what changes have you seen from pre-pandemic to now. Essentially, who's buying? Who's selling? What are the different types of motivations you are seeing with your clients? Which type of clients seem to be having better success over others? [link] [comments] |
| Gas or electric stovetop better for rental property? Posted: I want to purchase am investment property to rent in the future. Do most rentees prefer gas over electric? Is that a deal breaker for a lot of people if it's electric? Or do most people not care? Thanks ahead for the answers! Really appreciate it! [link] [comments] |
| Posted: I wanted to write a letter when we put an offer on a home. My real estate agent made it appear that it was pointless. Told me all seller cares about is getting the best offer and making the most money. Which is true? [link] [comments] |
| Self employed/home loan question Posted: I'm joining a practice in a new state. Will I have trouble getting a home loan until I can show several years' worth of income? I'm switching from a W2 employee to an LLC. We can show around $300-350k in assets (cash, retirement accounts). Looking to buy a home for $400-450k. [link] [comments] |
| Recently purchased home, immediately notice of encroachment due to retaining wall Posted: Hello all, First time home buyers, super inexperienced, and we need some legal advice. We closed on our home on 1/14/21. We did an extended residency for the previous owners and just received the keys on 3/31/21. There was some mail addressed to us they had set aside that was handed over at that time. In that mail was a letter dated 3/22/21. It was from a lawyer representing our neighbor stating that they had informed the previous owners in August of 2020 that the retaining wall supporting our driveway was failing and encroaching onto their client's property. This retaining wall supports our driveway and abuts directly up to a new construction driveway the neighbor is building leading to a new construction home behind ours. The letter states they are requesting we remove the boulders currently trespassing on their client's property and engage a structural engineer to reinforce the retaining wall to prevent further deterioration of our driveway. The letter further states they will do their best to provide lateral support for our driveway but given the wall's current state of disrepair that it is possible that construction of their new driveway will accelerate the wall's collapse unless we take action. At first glance the wall seems fine, but of course we are not structural engineers. We also would have obviously renegotiated pricing for the home is we knew this was an immediate issue. The sellers documented at closing that they were unaware of any encroachment, which seems like a blatant lie. More information:
So, our questions:
Thank you for any help or advice you can give! [link] [comments] |
| Posted: We waited to purchase a new build in Ontario, CA in the Inland Empire in San Bernardino County. We did the math MULTIPLE times and used all kinds of wacky tools online to get a good idea of what our monthly payments would be. It appeared we could afford the home, but when it was our turn in the phase release we were told the tax rate is actually 1.86% and not 0.86% because it was a developing area and it was the 'mello-roos' tax. We were devastated. It meant that the property tax we were estimating to be around 500ish a month was going to be closer to $1200 a month which put us well over budget for our goals. Of course it was our fault - we should have asked. But now we've decided to pivot and considering getting existing houses in the vicinity (built post 2005) but scared we will run into a similar issue and don't have the time to call every single listing agent to confirm property tax on each house we're interested in. Any tips? [link] [comments] |
| Dumb question about VA mortgage loan pre-approval from a FTHB Posted: Really dumb question here, sorry y'all. Military FTHB. Pre-approved for a $600,000 purchase price with a $560,000 loan and $40,000 down payment. The loan is the variety of VA loan that allows for $0 down, but I had high hopes of being able to cover a down payment. Likely could have gotten pre-approved for substantially more based off of our credit and dual income, but I really didn't want to spend more than $600,000 on a house. I still have that down payment money saved, but lets say I now want to keep it to make repairs to a property since we're going to have to purchase without an inspection. I want to make sure we have the money to fix anything safety related that needs to be fixed before we move in. Hypothetically speaking, imagine we found a house selling for $575,000. Thus it's 1) within our preferred budget, 2) under the pre-approval purchase price, but 3) over the actual loan amount that we were pre-approved for. My question is: Will the VA increase the loan amount up to $575k so that we can purchase without a downpayment? Or should I expect to have to supply $15,000 from my saved funds to fill the gap? (We are definitely able to do that, just would rather not.) Or should we just call ahead of time to see if they would alter the pre-approval conditions? Thanks, everyone! [link] [comments] |
| Thoughts on how StarLink affects value of homes in areas that only have satellite internet? Posted: For those that don't know, current satellite internet is complete shite with low data caps, very slow connections, and zero reliability. Working from home isn't very feasible. But with StarLink, that all changes. Any thoughts on how StarLink will affect home values? [link] [comments] |
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