Real Estate: Federal judge overturns CDC's eviction moratorium |
- Federal judge overturns CDC's eviction moratorium
- Likelihood of buyer backing out
- Inspector found broken jacuzzi, seller offering hot tub instead of cash?
- Isn’t it all the same?
- We Closed!
- FTHB Unicorn!
- Unhappy with Redfin
- CA: Trying to "guess" what the basis of a casualty loss is
- Recent Buying/Selling experience & what I learned
- Fumigation Etiquette
- The least they could have done was painted it before asking $100,000 more
- 1.5 baths for family of 4?
- Advice for couple in our 30’s
- How much can I miss in inspection if a home is already built compared to 3 phase or partial 3 phase inspections?
- Advice for first home buyers
- Why would you sell to indefinitely rent back?
- Barely got one offer in Scottsdale - signs market is slowing down!!!
- Anyone deal with Carpenter Ants?
- [TN] any templates for a quit claim deed? Should I hire an attorney for this or is this easy enough for me to do?
- Pricing land you want to buy from a neighbor in North Jersey
- Anyone else hate West-facing windows?
- Finding Leads
- After falling out of a doomed escrow in March, we got our 4th offer accepted [Los Angeles]
- VA Loan Expansion
- Renting
| Federal judge overturns CDC's eviction moratorium Posted: 05 May 2021 08:24 AM PDT https://www.axios.com/eviction-moratorium-cdc-judge-22290142-d045-4f50-88eb-4ee71642c0c4.html " A federal judge on Wednesday vacated the Centers for Disease Control and Prevention's temporary federal eviction moratorium, which had been extended multiple times since being enacted by the Trump administration last fall." A lot of discussion on this forum about this topic. Well here we go. [link] [comments] |
| Likelihood of buyer backing out Posted: 05 May 2021 05:28 AM PDT The buyer and I are $5k apart on their inspection asks. I am not being unreasonable (offering $11k), their quote for sewer replacement was just $6k higher than ours from a reputable company, so we provided our quote +$4k extra to get more in the middle. Feels reasonable to me. Waiting on their response. But if it comes back at their full asking I am very tempted to say nope. I realize that is a risk on our end, as we'd like to close with them and relisting doesn't guarantee the same offer price, but we aren't in a huge rush regardless. I also think it's a wash on our end, if we relist we take on additional expenses that would cover half of that $5k but it's a principle thing at this point. But, they have more to lose than we do. Asking a bunch of strangers since y'all can keep the emotion out of it and help me decide haha. If it matters, this is a current rental property we have. [link] [comments] |
| Inspector found broken jacuzzi, seller offering hot tub instead of cash? Posted: 05 May 2021 05:44 AM PDT Inspector found several issues with the jacuzzi in the master ensuite. Pumps don't work, and the tub also leaks, so it can't even be used as a soaker tub. Cost of a replacement tub runs $2000-$4000. We asked for sellers to pay for a plumber to fix the leaks so that the house doesn't get damaged further, as well as $2000 to cover replacement and the cost of several other repairs needed in the home. Sellers responded that they won't fix the leaks, instead they promise not to use the tub. And will leave the stand alone 10 year old hot tub that was sold with the house to them when they got it a few years ago. Somehow I don't feel confident that an old hot tub may have issues as well, and I'm not super keen on the idea of a hot tub, and see it as a liability more than a value added feature. Is it fair to say that a broken jacuzzi in the master bathroom impacts the house value more than including an old hot tub with unknown history and maintenance? I'm leaning towards declining the hot tub and pushing for cash back as when we put in our original offer it was under the assumption the sellers would take the hot tub, and that the jacuzzi in the bathroom was working 100%. [link] [comments] |
| Posted: 05 May 2021 07:55 AM PDT Some say don't buy now because low inventory and prices high but rate is low. In future the prices will be low but rate will be high. So in the end isn't the cost the same for buyer (not including people who bid 50-100k over which I'm sure are minority). [link] [comments] |
| Posted: 04 May 2021 08:16 PM PDT We did it! The market is shit, but we did it! We're FTHBs who had to figure out how to navigate this crazy system, but somehow, we did it! We offered over asking, but miraculously it appraised, and we did it! We waived all our contingencies, and we still went ahead and did it! We have a house! We have keys! We won't be homeless in a month when our lease ends, which is wonderful. We're getting it inspected this week, and hoping that comes back without anything that makes us say yikes, we wish we didn't. Now that I'm done wasting energy being anxious about where I was going to live if this closing fell through, I have much more to spare on good thoughts. If you're looking for a home in this crappy market, my thoughts and good vibes and wishes and prayers and hopes are with you. It is difficult. It is shitty. It shouldn't be this way. But it is doable, with enough determination. You got this! [link] [comments] |
| Posted: 04 May 2021 05:39 PM PDT State: Oklahoma House: 3/2; 1444sqft; .30 acres, built in 2005 Financials: $115,000; VA financing; 3.25%; $500 earnest; $1,740 closing costs My wife and I started talking about buying a home in January. Reached out to a lender in February, credit score was at a 611 — needed to be 620 for VA financing. Started paying off what they asked. 3/1: Lender pulls credit, 636! Tells me to start searching hard for houses 3/5: saw a house listed at 125k which was the top of our budget, scheduled a showing, canceled it because we just were unsure of it. 3/20: same house we scheduled to see and canceled; dropped the price 10k — now listed at 115k 3/21: saw house, wrote our offer! 3/21: sellers accept offer SAME DAY, verbally after realtor mentioned it, signed contract that evening. 3/24: inspector came — no big issues that we needed to negotiate (roof replaced last year, plumbing & HVAC good to go), suggested a foundation inspection due to some cracks 3/25: termite inspection — no issues 3/28: foundation inspection — no issues 🙌🏼 From March 28-April 13th was a waiting game of nothingness. 4/14: VA appraisal 4/20: Appraisal comes back at listing price with a minor repair to be completed prior to closing 4/30: repairs complete, reinspected, pass, received CD 5/3: received CTC at 4:50pm with final disclosures and check amount. 5/4: CLOSED! Credit is now up to 680 across all boards. Mortgage payment is $500 less than what we were paying in rent. Still have a great savings amount. Bonus: the lot (.21 acres) adjacent to us is vacant and we also put a cash offer on it today to make for a bigger yard. Good luck, everyone! Unicorns are out there! [link] [comments] |
| Posted: 05 May 2021 07:02 AM PDT I have a contract with a Redfin agent, have been working with her for about a month. I' am frustrated with the Redfin process when set up tours. If I don't stay on top of the houses I submit for a tour, they often do not get scheduled. The agent I'm working with submitted a contract to buy a duplex and told the sellers agent about the crapy paint job the seller did on the duplex. (It was a crapy job, but she shouldn't have told him). The Redfin agent seems very immature and negative to work with. The one good experience with Redfin are the showing agents. They have been great to work with. I want out of the contract to work with Redfin. If I complain to Redfin and ask to get out of the contract, would they let me out? Or will they try to pawn me onto another agent? Is it customary of a realtor to end the contract with a client if the client is not happy with their services? [link] [comments] |
| CA: Trying to "guess" what the basis of a casualty loss is Posted: 05 May 2021 08:37 AM PDT I have an income-producing property that was vandalized by a tenant last year in Feb. As retaliation for putting a 5-day pay/quit notice, he left the water on, flooded the place from the second floor, resulting in drywall from ceiling on the first floor essentially falling off and molding everywhere, requiring carpet/drywall replacement of that unit and the unit adjoining it. I'm looking to take a 4684 casualty loss on the property, which seems to require that I take an appraisal or estimate the loss using repairs. Unfortunately I did the repairs myself, so I really just have the value of the raw materials. It seems like appraisers are very busy right now, and the ones I called up want about $2K to do the appraisal... Does anyone have any experience taking these kinds of losses? Is there some special, less expensive appraisal I can get that will satisfy the IRS? [link] [comments] |
| Recent Buying/Selling experience & what I learned Posted: 04 May 2021 06:25 PM PDT Hopefully this is helpful for someone! Buying: My wife and I had to buy in the Knoxville, TN area and the market is just as miserable as anywhere else. I swore if I heard "unprecedented market" one more time, I was going to throw up.
Selling:
That's all. Good luck on both sides... be a good person. Money isn't everything. It's a lot, but making a family happy feels a lot better than $$. Unless you're sticking it to the schmucks to continue to swallow up the market, carry on! [link] [comments] |
| Posted: 05 May 2021 08:11 AM PDT My husband and I are about to close on a home. The pest inspection found evidence of drywood termites in the attic, so the house will need to be fumigated. We have scheduled the fumigation for a few days after we take possession of the house. My question is - what is the etiquette here with neighbors? We will be new to the neighborhood, so we don't want to upset anyone before we even move in. The lots are all really small (~1500-3000sq ft) so the houses nearest to ours are pretty close. What would be the best way to handle this? Should I give everyone a heads up? Just the houses immediately next to mine or...? I don't know anyone personally, and it feels weird to knock on doors because of Covid. Should we drop off letters? Would love to hear any stories (good or bad) from anyone who has experience with this! [link] [comments] |
| The least they could have done was painted it before asking $100,000 more Posted: 04 May 2021 02:08 PM PDT This elm street house was bought in January 2021 for $19,000 by the owner of The Paint Guys, and then put on the market in April for $120,000. You would think that the least they could have done was paint the outside. [link] [comments] |
| Posted: 05 May 2021 07:12 AM PDT Anyone have 1.5 baths for a family of 4? Is it doable? There's a house coming soon that I'm very interested in but it only has 3 beds and 1.5 bath. It's priced high and considering it only has 1.5 bath, it's a deal breaker for me unless the price comes down a lot. I have noticed homes in the area with only 1.5 bath tend to stay on the market longer, so I'm hoping the price will come down. Then how easy is it to convert a half bath to a full bath? I'm sure there's lots of factors involved but what should I look out for when I looking at the house? [link] [comments] |
| Posted: 04 May 2021 08:47 PM PDT Advice for couple in 30's Hi there, I'm in a bit of a predicament at the moment. Here's the scoop: My wife and I make about $250k combined living in the San Francisco Bay Area with our 8 month old daughter. We collectively have about $20k of debt (including one of our cars) and about $150k in savings. We are renting a small 2 bedroom house in the East Bay for $2200 a month. Our landlord informed us that the house will be going up for sale by the beginning of July, so we need to vacate between now and then. For the past few weeks, we've been house hunting, and are experiencing this insane real estate market first-hand. Houses are being purchased at $100k+ over appraised/asking prices. We've lost out on 3 homes so far because the bidding was so aggressive. I have a gut feeling that this isn't sustainable from an economic standpoint and it's a foolish time to buy. Another part of me is thinking that if we "miss the boat", we will be priced out of the Bay Area and be forced to move either out of state or somewhere far from here. The benefits of living in the area are that my parents are close by and my mom runs a home day care so she watches our daughter free of charge. So in efforts to avoid having to put my possessions in a storage unit and shack up at my parents modest townhome, I'm looking for a short-term/ month to month rental instead. Should I continue looking for a house in this insane market because it will only get crazier? Or will the market calm down and bring prices to a more realistic number in the near future? TL;DR: family of 3 with decent income debating on whether to purchase a home in an inflated housing market or continuing to rent elsewhere and save more to buy when the market cools off a bit. Any advice would be greatly appreciated. Thanks! [link] [comments] |
| Posted: 05 May 2021 09:40 AM PDT Curious if it's a huge issue and buying an already built home is significantly more problematic for inspection rather than buying it during inspection phases [link] [comments] |
| Posted: 05 May 2021 09:40 AM PDT This market is insane for buyers especially as we are looking to relocate to the suburbs surrounding NYC. Unfortunately we are looking to buy right now with a new baby. Any advice? [link] [comments] |
| Why would you sell to indefinitely rent back? Posted: 05 May 2021 09:28 AM PDT Hi everyone! I'm a first time homebuyer in Maryland and have been trying for three months with 5 rejected offers so far, (townhouses between $180-$230k by the way). Our last offer was second choice but we lost out because we offered up to a 60 day rent back (the maximum) and the seller chose someone who offered an open ended, indefinite rent back. This must have either been a cash offer or an invested but WHY would you'd Ella your house just to rent it out for potentially months??? I'm almost at my wits end here and so confused. [link] [comments] |
| Barely got one offer in Scottsdale - signs market is slowing down!!! Posted: 05 May 2021 09:21 AM PDT Finally listed my house for sale after moving out, fixed it up made sure its spotless - it's an outstanding property in a very desirable area of scottsdale. Priced right. Had 20+ showings over the weekend, only got 1 offer (that we accepted). By what I've been reading and hearing - I thought I'd be losing sleep picking out the right 'buyer' out of sea of 30+ offers. Not sure what's going on but the concensus from my RE agent and her office is market is showing signs of slowing down, frenzy is cooling and more inventory coming on market. Happy we were able to get an offer with a price I"m satisfied with, but wondering if it would of sold for more weeks ago (in a bidding war?). Have you seen similar trends where you live? Is the inflection point finally here? [link] [comments] |
| Anyone deal with Carpenter Ants? Posted: 05 May 2021 09:18 AM PDT My tenant just called saying theres 25 carpenter ants by the screen door and somewhat in the wall. I read that terro liquid ant baits is what should help, anyone have better sugesstions advice? [link] [comments] |
| Posted: 05 May 2021 09:17 AM PDT |
| Pricing land you want to buy from a neighbor in North Jersey Posted: 05 May 2021 08:36 AM PDT I want to offer my neighbor money for land that borders our respective property lines. They cannot access it without going up and over a retaining wall (it's unusable) however it sits adjacent to my side yard which I can easily access. The land cannot be built on nor is it accessible from the street - just through my neighbor's driveway and my side yard. I want to give them a fair price but it's hard to come up with a number based on their plot size (3 acres/land value $159,000) vs the approximate 1000-1500 sq ft I want to purchase. Has anyone had a similar experience and how did you come up with your figure? TIA [link] [comments] |
| Anyone else hate West-facing windows? Posted: 04 May 2021 04:22 PM PDT I ever only see posts about which direction of windows provide the most amount of light, but I feel like there must be such a thing as too much light. One side (west-facing) of my current apartment is completely glass, and I can't stand the sunlight. After about 3pm, there's way too much sun, it heats up the apartment to about 28C now (I've seen it go up to about 35 in the summer), the sunlight reflects off the floor and it blinds me, and the books I had in the way of the sunlight have completely faded covers now. So I basically draw my curtain at 3pm and turn on the interior lights from then on. Very glad to be moving to a house that is east-facing with a large building across the street. [link] [comments] |
| Posted: 05 May 2021 07:35 AM PDT Hey guys! Im located in OKC, OK. Just curious how you guys have been finding leads. Mailers, Cold Calls, Texts, or some other form of marketing? Always looking to expand my marketing repertoire. [link] [comments] |
| After falling out of a doomed escrow in March, we got our 4th offer accepted [Los Angeles] Posted: 04 May 2021 08:35 PM PDT I posted a while back about losing out on a condo a few days before closing because our team dragged their feet and we got HOA docs back (that we paid the fee for) and they had 2% reserves which didn't meet requirements for Frankie/Freddie. We were 3% down on 515k, 950 sqft 1 parking spot peppery. No in unit laundry. We went right back into this market with a new realtor and lender and made good, competitive offers on 3 places. But you know what? They were good enough. We were up against 20-32 offers on each without a real counter. Just one "waive all contingencies and give your best price" counters. Fast forward to this new listing thats 1,250 sqft. Pretty much 300 sqft bigger than anything in the area in our price range. We went in aggressive, this place was perfect for us in all the right ways. Beautiful design, French doors, full laundry room with W/D, two large balconies, a wet bar, fancy geometric wallpaper and splashes of color. Very LA. Move in ready. New bathrooms, kitchens, floors. The works. We went in strong. 30k over asking, 5% down, credit-approved so we waived loan approval, and after a lot of thinking waived appraisal for the first time on an offer, 10 days for inspection. They wanted our "best offer" for price and 8 days inspection in their counter. Lender and realtor were confident based on comps. We had to become the people who always won and we resented. We went 50k over asking after hesitating ok how much higher to go. In the end only one other offer matched ours, they were credit approved yet-but willing. However, my friend who sold a home in Utah recently pushed us really hard to write a short letter. No sucking up, just mention we how we appreciate the work they put in. The seller loved the letter and our offer was accepted. I was in tears about this process the night before. Today I am allowing myself to be happy. Tomorrow is inspection, appraisal is rush ordered to be here in 5 business days and we are looking to close in 25 days. Our fingers are crossed, but we've been burned, and I won't let myself be heartbroken (if it comes to that) until later. TLDR, if it's worth it to you, do your due diligence and be aggressive as possible, get that response, stay determined! Write a short letter (1 paragraph) even if they never read it [link] [comments] |
| Posted: 05 May 2021 07:05 AM PDT There has been an expansion to those eligible for the VA Loan and they are as follows: Expanded criteria for eligibility among Vietnam Era Veterans to those whose wartime service began on or after Nov. 1, 1955. The previous start date to qualify for the VA home loan benefit as a Vietnam Era Veteran was Feb. 28, 1961. Enhanced access to service members and some Veterans of the National Guard. The new statutory authority extends eligibility to members of the National Guard who have been mobilized to perform full-time guard duty for at least 90 cumulative days, with 30 days of that service being consecutive. Service members, Veterans and certain survivors with VA-guaranteed home loans or VA direct loans whose residences have been substantially damaged or destroyed in an area that has been declared a major disaster by the President are now eligible to be charged a first time use funding fee on a VA-guaranteed loan rather than a subsequent use funding fee. The borrower's next VA-guaranteed loan must be for the repair of the damaged or destroyed residence or purchase or construction of a new home closed within three years of the Presidential declaration of the disaster. More info can be found on the VA.gov website. [link] [comments] |
| Posted: 05 May 2021 07:04 AM PDT When renting an apartment, would you rather pay first and last upfront or only first, hold on to your last months rent and pay it over 12 months with a $5-$10 monthly fee. [link] [comments] |
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