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    Tuesday, April 20, 2021

    Realtors: Return to buyers market?

    Realtors: Return to buyers market?


    Return to buyers market?

    Posted: 20 Apr 2021 06:28 AM PDT

    We were thinking of buying a house this summer. We are in great financial shape and I have enough liquid for down payment and closing costs, but I can't believe the desperation of some buyers out there willing to go 30,000 above value Plus paying closing costs for the buyers etc. I don't understand how people can do that because the minute they move into the house they are already upside down in value.

    My question to the Realtors out there is there any end in sight to this crazy sellers market? I'm thinking I might just rent a house for a year or two until the tide changes, cuz I'm not willing to do crazy things just to have a roof over my head.

    submitted by /u/redpelon
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    Capital Gains Tax Question

    Posted: 20 Apr 2021 07:04 AM PDT

    My wife bought a condo in 2015 for $66,000.00 (with cash) and is going to list it in May for $135,000.00. She paid HOA dues of $250/month and paid a one-time HOA assessment of $3,000.00 for a new roof. It was her primary residence during this time.

    I know this is a question for my accountant but based on the above information does anyone know how much the capital gains tax will be assuming it sells for that price? If not, what other information is needed?

    submitted by /u/dontopenarestaurant
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    Do you have a separate business page for social media marketing?

    Posted: 20 Apr 2021 12:25 PM PDT

    I see a lot of realtors with separate social media accounts just for business marketing. I also see some that just use their personal page. What is your preference and what successes are you finding with social media? And what hasn't worked? When your page was brand new, how did you grow your audience? I'm actually a loan officer but looking for advice because realtors tend to have a better grasp on marketing than my own people.

    submitted by /u/throwaway1010ten
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    My parents are selling their home but the buyer is being weird. Any experience with this from a realtor POV?

    Posted: 20 Apr 2021 10:07 AM PDT

    My parents are selling my childhood home so they can retire to their 2nd home a few hours away. It's located in an area that is very sought after and the listing agent told them to expect many offers in the span of a couple days on it. I don't think they were quite prepared for how hot the market is and got 27 offers in less than 72 hours.

    They ended up going with a cash offer that was a little less than the highest but still over asking and waived inspection. The buyer is out of town and it is sight unseen. They decided to go with this offer because they figured it would be fast and are ready to just start living up retired life. Apparently the buyer is going through a local agent who is somewhat new in the field.

    It's been over a week now and something feels very...off. Apparently the buyer has been hard to reach and missed the deadline for deposit that was contractually due within 72 hours. My parent's agent told them they could dissolve the agreement and that it was very unusual for a cash buyer to do this. Despite this, the buyer came up with some vague excuse and my parents extended the deadline. After he missed this deadline, they extended it again. The buyer's agent has been incredibly apologetic. He made the deadline on the very last day and the check was from a property management company, which they were not expecting.

    They deposited the check without any apparent issue, but I don't know if there's a timeline for it to potentially bounce or be bad.

    Is this weird? My parents are annoyed but are hoping the rest of the transaction goes smoothly and quickly from here. Their agent seems to be suspicious of the buyer but said she will do what my parents want to do. I don't feel good about it but for the life of my I can't imagine what the potential motive here is.

    submitted by /u/maybeididwrong
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    Renting - what to do if I have a questionable co-applicant?

    Posted: 20 Apr 2021 10:03 AM PDT

    Hi all, I'm looking to move to a new rental property soon. I found one I'm beyond interested in, and will be viewing it today. I gave the realtor my credit score, myself and my boyfriend (co-applicant's) combined income, and some other information. I make well above what we would need to be approved myself alone (combined it's even more), and have amazing credit, and we have no issues in our rental history. The problem is that my boyfriend, co-applicant, works part time & is a student, and his credit isn't the best (it's in the "yellow"). The realtor wants us to come look at the property, and said based on the info I gave him we're the most qualified applicants and would likely be approved. I'm just scared that once he looks at my boyfriends credit score, we won't get it as the rental market is super competitive at this time. Do you think this would be a deal breaker? Or would my credit + income being so good make it so it pretty much doesn't matter?

    submitted by /u/zzztoken
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    Opendoor home sale experience, Closed March 31st, Jacksonville Florida

    Posted: 20 Apr 2021 05:48 AM PDT

    How has your experience as a realtor been affected by the pandemic?

    Posted: 20 Apr 2021 08:01 AM PDT

    Curious to see what you had to change or implement and if ultimately it benefited your business or took away from it? Overall is it good or bad to be a realtor in 2021? What challenges did you face, and what unforeseen opportunities did you find?

    submitted by /u/EducatedByInternet
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    How we can buy foreclosure properties?

    Posted: 20 Apr 2021 02:31 AM PDT

    What are things that are must to keep in mind while buying foreclosure properties?

    submitted by /u/Edward_RED
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    Low inventory, lots of clients, how to find them homes?!

    Posted: 19 Apr 2021 07:20 PM PDT

    Hitting a lull, homes just so slim, any advice? Lots of buyers not lots homes, as is everywhere. Off markets, in house agent homes? What to do?

    submitted by /u/ubereatsass
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    What do you do for your sellers as the closing day gets nearer?

    Posted: 19 Apr 2021 05:14 PM PDT

    This is a seller who has already moved out and into a new place so the place they're selling is vacant. They did have furniture left there, none of which the buyer wants, and the seller was supposed to remove it all. I haven't seen a moving truck or even seen them there this past week. The closing is Wednesday. The seller is a bit of a loon and goes off on me for the smallest things, so how would you approach this? I reviewed the preliminary HUD and emailed them saying it was all correct but got no reply. Not sure what's up or how to manage this.

    submitted by /u/praguer56
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    Waiting game

    Posted: 19 Apr 2021 07:36 PM PDT

    Just curious since I'm a new agent and just dealing with buyers... but for a best and final with a deadline at 7pm.. if the listing agent tells you they'll have a decision by that night or the next day, and you don't hear from them that night... do you assume the worst and that your offer wasn't accepted? What usually happens by the deadline date or am I just driving myself crazy thinking the worst?

    submitted by /u/SecretEngine0
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    Market in the summer

    Posted: 19 Apr 2021 09:58 PM PDT

    What's the projection for the summer?. Continue hot sellers market or is there going to be some inventory added to slow things down?

    New home prices are through the roof!.

    submitted by /u/machiemack
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    Lease contract question

    Posted: 19 Apr 2021 08:28 PM PDT

    New agent, contract question

    Hey guys! Hope your well.

    Im making a move and renting for a year while we build up a down payment. I am an agent in the state I'm moving within.

    I found a great house in a great area for a great price through WOM. Only thing: the landlord uses the detached 3 car garage for personal storage, and has given me his word that he will move his things out hopefully by October but before the end of the year at the latest so I can use the garage

    (lease starts in July, not yet signed)

    I want to put in the special stips of the lease some sort of promise in writing that ill have access before x date or insert penalty (rent reduction etc)

    What would be your recommendation on wording this or verbal negotiation?

    I'm not giving this place up. I'd rent it without the garage. I've done rental comps and he's renting it about $550 below market.

    Thank you in advance

    submitted by /u/Toxicview
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    Advertising ideas for old, awful lakehouse on a fantastic waterfront lot? I need creative help!

    Posted: 19 Apr 2021 03:42 PM PDT

    I scored a listing on an outdated lakehouse that sits on an awesome lot. The house is half mobile home, half stick built, and would take a lot of work to renovate, so I don't have much to work with there.

    The lot, however, is phenomenal! It's 1.5 acres of flat land that's all buildable, and not in a floodplain. There are currently NO waterfront lots for sale on my lake.

    I have a professional photographer coming out this week, but I need better wording for my listing... How do I professionally say "this house sucks, but the lot is gold!!"

    Also, how can I draw vehicle traffic attention to my listing sign? The house sits off a country road, and the sign isn't really visible until you pass by. There's a big beautiful oak tree marking the drive, so would it be tacky if I wrapped the trunk with a massive bow? Are there any Pinterest or Insta groups I can get ideas from?

    submitted by /u/IamAmomSendHelp
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    Questions regarding Washington state

    Posted: 19 Apr 2021 06:57 PM PDT

    I'm getting ready to sign up for the required courses to obtain licensing in Washington state, but before I sign up, I have been trying to get ahold of the official real estate office (from the DOL WA website) and have been unable to get through. I've tried emailing and phoning to no avail. I have two questions and I'm hoping someone here can help.

    1. Do I need to be a resident and/or have a Washington drivers license in order to obtain and practice as a real estate agent in the state?

    2. I'm currently in my 3rd year of college. Would any of my college courses substitute the required 90 hours of approved real estate education?

    For reference, my husband is an active duty Air Force military member and we are stationed and living in Washington. I am not licensed (through real estate) anywhere else, and as for college, my degree's major is in management with a minor in finance. One of my summer classes pertains to the principles of real estate, which is "a study of real property, its legal title, transfer, ownership, finance, and management." I don't know if anything pertaining to my schooling matters since it's not a real estate major.

    Additionally, I have reached out to my prospective mentor who isn't sure if I'm required to be a resident or hold a state specific drivers license and told me to inquire with the official office. I'm not sure if this question comes up often, so I do not fault him in not knowing and frankly, wouldn't expect him to know (he has been amazing and helpful thus far).

    I apologize for the long post and would appreciate any help. Thanks!

    submitted by /u/heather-lee
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    Switching licence from one Provence to another.

    Posted: 19 Apr 2021 06:35 PM PDT

    Hey guys! My fiancé and I are throwing around the idea of moving out of Alberta and we have been debating on which Provence to move to. Has anyone switched licences to a different Provence after obtaining one here? How do you go about doing it and how much does it cost?

    submitted by /u/SnooRadishes9206
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    Any Los Angeles realtors?

    Posted: 19 Apr 2021 06:05 PM PDT

    Contract states buyers will ask for no repairs, but after inspection ask for closing costs in lieu of repairs?

    Posted: 19 Apr 2021 03:59 PM PDT

    Hey all,

    I came across this situation recently and wanted your opinion on the legality of it.

    The accepted purchase contract states that the buyers will ask for no repairs, but want an inspection anyway.

    After the inspection, in lieu of repairs, are the buyers allowed to ask some amount of closing costs to be covered by the seller?

    It seems to be a grey area, and I am not sure how to proceed.

    Thank you all!

    submitted by /u/ForHondor
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    Should We Reduce the Price?

    Posted: 19 Apr 2021 03:41 PM PDT

    It's a new construction single family. I'm the agent/owner, home builder.

    During construction and just before listing we had TONS of interest. No hard offers, but multiple people who seemed genuinely interested.

    We listed on Wed, had an open house Sat. We had decent interest over the first few days, and for the first half of the open house and then ... nothing!! No offers, no follow ups, no feedback from agents, etc.

    The only feedback I received is that people like the house, but didn't love the neighborhood. The neighborhood is good, I know that much because we just sold a very similar house a few Blocks away in Nov for over asking price, and there is a lot of new construction in the area. But directly across the street is an ugly abandoned falling down house, and it is just now hitting me that that may be the reason for lack of interest, and the general sense that the neighborhood isn't good.

    I am panicking. I know it's only been 5 days since we listed, but there are currently no showings scheduled for this week. I know the price is right for the home and neighborhood itself, but the house across the street is throwing a curveball into the mix.

    Would you lower the price at this point, and if so how much??? Any other tips for generating interest? I had multiple agents and people say they thought this house would sell quickly. It was listed as a "hot home" on Redfin until this morning. We really thought it would sell quickly, so this is a bit shocking ... just trying to figure out the best move and not make an irrational decision. What would you do??

    submitted by /u/leidavis
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    Best Talk Tracks for facebook leads

    Posted: 19 Apr 2021 03:41 PM PDT

    Hey guys, I've been using Facebook ads and Vulcan to find some sellers in my area, heavy seller's market here.

    been saying "hey ---- it ----- with ABC, the reason I'm calling is someone at ABC address asked for a home evaluation, was that you?"

    then just seeing where it goes, I think it's good and have had decent conversations. anyone else comfortable sharing what they are having success with?

    submitted by /u/Immaculateintentions
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    What to do when you have no offers on a property but a realtor asks is there any others on the property?

    Posted: 19 Apr 2021 06:58 PM PDT

    Is it ok to lie to other realtors when they ask if there is any other offers to try and make sure they put in a good offer? Or just tell them I cant answer that? Or tell them the truth that we haven't received any offers?

    I have an over priced listing and in the 5 days its been listed we have not gotten any offers. Just three private showings so far. But the people who this realtor represents said they liked the house and its their favorite on so far.

    submitted by /u/RealEstateSalary
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