Imrpoving house value Real Estate |
- Imrpoving house value
- I'm a sales agent, and my local MLS is charging 'voluntary' fees for political lobbying group donations.
- Real estate agent commissions seem absurd to me, can you please help me understand why agents deserve these fees?
- Let's talk about Denver for a minute
- Our house build starts in two days. Tips for what to look out for and what questions to ask during the process?
- About to start renting my flat out, what are some things I may not have thought to do?
- Looking for mobile home parks
- Mortgage Appraisals: Do Pools Add Value When Looking at Comparables?
- I'm a first time buyer. Closing date is in a good few months but I won't really have a place to live starting October. Can I ask to close early, move in early but still alllow seller to live there? Is that a bad idea?
- Is getting a BPO legally required?
- What is a good contingency plan for this hot market under 150k, Midwest, multifamily
- What will adding another house do for my market value
- Opening my own brokerage pros and cons
- Understanding why buyers skip the condition of a home inspection when making an offer on a home?
- First time potential home owner looking for guidance
- Help me understand why this is so cheap
- Inspection Objection Deadline
- Interested in getting into real estate
- Best way go find a home in the woods?
- Canceled Contract During Option (TX, USA)
- Seller’s contract expired
- [Oklahoma] How accurate are tax assessments? Getting antsy waiting on appraisal.
- Risks/rewards of a seller carryback
- High school Real Estate Agent
| Posted: 04 Sep 2018 05:42 PM PDT What are some things I can do to increase the value of my home? I want to put it on the market in the next 2 years and I want to know some things that are overlooked or flat out ignored when getting ready to sell. I live in Genesee county MI [link] [comments]  |
| Posted: 04 Sep 2018 09:30 AM PDT I'm over being an agent. I really hate the stigma that follows my trade around. I am investor, agent, and property manager, and nearly 100% of the people I meet are very conservative pro-Trump types. I maintain my license, as I am an investor. I run into people looking for investment properties all the time, so I bundle this service into my business. I really hate the fees, and have decided to put my license on hold, and build in an 'activation' fee in my service investors. I mainly find investors, who then sometimes turn around and sign a management contract with me, so it is very worth it for me to stay an agent. This latest MLS bill is just another stunt by the local MLS. During 2016's campaign, they would send out anti-Hillary and pro-Trump propaganda. I once even got a form letter from the National Association of Realtors, talking about how Trump 'is on our side'. This was distributed nationally to all Realtors, so some of you may have seen it. Around 1 year later, I get another form letter, which is nothing but complaints about the tax package Trump was passing, and how 'devastating' it will be for the real estate market... I am looking for other options. According to my state law, I need to work under a broker, and pay them fees, but I am unsure if I even need to pay my MLS. What do other agents do, who are mostly solo? I am with Keller Williams right now, and I am paying unnecessary fees, so I will at least downgrade to a more hands off broker. I would love it if I could function more independently as an agent, perhaps paying a basic fee to have a broker, and a fee to the State Board, and that's all. [link] [comments]  |
| Posted: 04 Sep 2018 09:47 PM PDT Using a 5% commission and splitting it between the seller and buyer's agent, you make the following:
Now, whenever I've gone to an agent, I'm either ready to buy or sell and the whole process is relatively painless for both of us. Let's use the hypothetical of me being the buyer. I tell the agent what I'm looking for, the area I'm looking at, and my budget. I assume he/she goes onto the MLS and does a search. Maybe, if they're really good, they'll scout out the places and make me a shortlist. We drive around together and look, and I'm ready to buy after a week of thinking. They send me the templated docs and the whole process is over in a month. I feel like the agent spent a total of 20 hours max helping me, but please let me know if I'm wrong. The hourly they make would be incredible for doing not very challenging work. Especially if they just have a laundry list of best practices they remind everyone about (get an inspection, etc). So, I ask, in a competitive environment, why haven't commissions gone down? I'm sure I'm in the wrong/missing something. [link] [comments]  |
| Let's talk about Denver for a minute Posted: 04 Sep 2018 06:28 PM PDT I would post this in r/Denver, but they get sick of RE related posts over there. Plus, too many of the participants are either 1. super resentful that they're not homeowners enjoying the last 5 years of price appreciation or 2. So smug about the RE market that they're confident their house price will reach the moon. I'm hoping to get some more level-headed responses here. Maybe it's nothing significant, but it does feel like the market is shifting. Homes listed in the $400s which I thought were very reasonable have seen price drops or have sat on the market for several weeks. High $200s town-homes that used to go under contract in a weekend might now take 1-2 weeks. Sure seems like I'm seeing more "for sale" signs in my part of town than I did this time last year. In another post, someone opined that attached homes are currently overvalued in Denver. This is also my concern, as I'm considering buying a condo or townhouse. I know Colorado has some strict condo-defect laws which have stifled construction, but supposedly there's a window of time after which newly-built apartments can be converted to condos and not come under the scope of the defects law. Is that true? Does anyone know what that length of time is? I ask because I'm afraid that if the rental market weakens too much (especially if net in-migration keeps trending down and we have a recession), we might see some mass apartment-to-condo conversions in a few years. Also, Denver is slated to have more new apartment deliveries per 100K people in 2018 than any other U.S. city. Basically I'm afraid Denver might have a glut of multifamily in a few years, making now a bad time to buy an attached home. What's your take? Do you think we'll see apartments converting to condos in Denver? [link] [comments]  |
| Posted: 05 Sep 2018 01:21 AM PDT The strip footing will be dug and poured on Thursday! By the end of next week we will have a slab. Of course we are super excited however what tips and suggestions do you have for us specifically during the building process? It's our first house so it's all abit of an unknown for us... What questions should we be asking? What should we keep an eye out for when we visit the site? (I'll be there almost every day watching progress). [link] [comments]  |
| About to start renting my flat out, what are some things I may not have thought to do? Posted: 05 Sep 2018 12:43 AM PDT Based in the UK. I'm about to start renting out my 1 bed flat with a 2 year consent to lease. It's the 3rd flat of 3, on the top floor. Moving back to my parents to earn some extra cash for a couple of years. First time doing this. A friend of mine mentioned looking into getting the right insurance, amongst other things. Wasn't aware of this, but makes sense. Which has led me to think there may be more I need to do or be prepared for. What are some things you recommend I do or some question to ask the agents ill be working with. Thanks [link] [comments]  |
| Posted: 04 Sep 2018 04:48 PM PDT Hi, Does anyone have any other sources for mobile home park listings besides loopnet and the mobile home park store? Does anyone have listings? Looking for parks along the eastern seaboard or gulf states in the U.S. [link] [comments]  |
| Mortgage Appraisals: Do Pools Add Value When Looking at Comparables? Posted: 04 Sep 2018 04:17 PM PDT Is it typical to add value for homes with pools when looking at comparables in a home appraisal? Two of the three comps my mortgage company is using are being adjusted down $25k each because they have pools and the home I am buying does not. I always thought pools were a zero value item. [link] [comments]  |
| Posted: 04 Sep 2018 07:48 PM PDT Or should I negotiate to pay rent, move in, and then close on agreed upon closing date? I googled this question and from what I've read, a lot of sellers had horror stories about allowing buyers to move in before closing date only to have the buyers not close. I don't want to give the seller more stress because of that. I know that she is an elderly lady living on her own in the house I'm about to buy, she wants closing much later since the retirement home can only take her at that time. My original plan was to keep living where I am now, but it's not gonna work out since my roommate is moving away to another country and they will want to rent out the entire house instead of just one room. I've started looking for short term stays in my area but when I contact them, people seem to prefer renters who will rent for longer than just 2-3months. So worse case scenario, if I can't find a room for rent, do you guys think my above plan about closing early and allowing the seller to live there is a good idea? I can also always look for places further away or Airbnb (although I've had trouble using Airbnb since they asked for bank statement proofs last year, I also don't feel comfortable giving them that information and don't think it's necessary for them to know) TLDR: Ignore my rambling wall of text and just focus on my question in the title. Thanks! [link] [comments]  |
| Is getting a BPO legally required? Posted: 04 Sep 2018 11:22 PM PDT Hi, I am at that point in my home mortgage where I am in that grey area between 80% and 78% of my original LTV. I am currently sitting at 79.79% to be exact, of which I reached after a little over 2 years of working my butt off and paying as much extra as I could in order to get the PMI off of our mortgage. However, as this is our first home, I fear I am being played by the bank. I called 7 times regarding removing the PMI. The first two were about 6 months before we qualified (just to get an idea if we should do an original LTV or current, because our house's value went up and we would have been able to get it off at that point) and I was assured that going the "original LTV" was the way to go because it was going to be free. Whereas the current LTV had obvious appraisal fees of $400 or more. So we decided to wait the 6 months and not pay anything extra. Now we are being told that we have to pay a BPO (which basically looks at the currently market value of our house), and certify that we do not have any other liens on the house. The BPO costs $105, we haven't looked into the certification of liens, but that might be more. The bank tried to argue that we NEED to pay these fees in order to get the PMI off before 2022 (our termination date based on the original amortization schedule). We did already mail in the $105 check, so that might be lost; but I need to know the answer. My question I guess is, if we reach 78% would we still need all of these things? Or would they have to legally remove the PMI? Thank you! [link] [comments]  |
| What is a good contingency plan for this hot market under 150k, Midwest, multifamily Posted: 04 Sep 2018 09:51 PM PDT I've read online that general tips include having Inspection, Loan, Title, and Appraisal contingencies. However, I am seeing that I need to offer before I can even see the house in person. What contingency would I use to make sure I'm covered when offering sight unseen? I am buying multifamily. For those who do too, do you regularly put in a contingency about proving rent rate and vacancy history? Lastly, when does the seller provide a list of all known problems (or recent fixes/updates)? I think it makes more sense to be provided a list of known issues before even making an offer. But I don't know how the process works. [link] [comments]  |
| What will adding another house do for my market value Posted: 04 Sep 2018 05:57 PM PDT When my family moved in to this home, there was a seperate garage. We tore that garage down and added a new one, except this garage has 2 upstair bedrooms (one is quite large) and a patio on each bedroom. One bathroom, a kitchen, and a living space. It never got finished and since im the owner of the house i decided to finish it up. Flooring, paint, heating, plumbing, etc. How will this affect me? EDIT: Genesee county MI [link] [comments]  |
| Opening my own brokerage pros and cons Posted: 04 Sep 2018 09:29 PM PDT So, I have been toying with opening my own Brokerage in NJ. I am pretty good with making sure all my bases are covered but I would love to hear from you about your pros and cons. Let's hear it in the comments. [link] [comments]  |
| Understanding why buyers skip the condition of a home inspection when making an offer on a home? Posted: 04 Sep 2018 06:17 AM PDT The market is pretty hot here in Montreal and we are trying to buy our first home. I'm 40 married,with first baby on the way. Why am I hearing about buyers skipping the conditional home inspection contingency when making an offer? To me it sounds foolish. (But I'm new to this) Would any one suggest skipping the home inspection when buying a non new home? My wife agreed to be patient and not let ourselves be rushed into buying, but I'm so curious why so many buyers are skipping the inspector condition? Any guidance please, and would anyone reccomend this or is it as crazy as I think? [link] [comments]  |
| First time potential home owner looking for guidance Posted: 04 Sep 2018 08:36 PM PDT I understand this is a vague question that depends on many factors but I'm just looking for a little direction. I live in Salt Lake City Utah and financially I'm in a place where I can buy my own place. I'm single and have some toys like a motorcycle and a go-cart. I'm also wanting to get a project car to work on. I want to build a deep 2 car garage (28x40 ft) feet with a studio apartment above. The garage area would be unfinished and there would be around 700 sq feet of living area upstairs with a couple hundred sq feet porch space upstairs as well. I'm new to the whole construction process so I have two questions.
Any direction or advice would be greatly appreciated. Thanks! [link] [comments]  |
| Help me understand why this is so cheap Posted: 04 Sep 2018 07:19 PM PDT Im looking to buy a place in southern california. I have found that there are manufactured homes for under $200,000 in san clemente. Is there some catch I am missing here? Why are they so cheap? [link] [comments]  |
| Posted: 04 Sep 2018 06:30 PM PDT We are the sellers btw. The deadline is today so a few hours left but we haven't heard anything back from the buyers agent in regard to the inspection. They are doing a "limited inspection," and they had a radon test and a sewer scope as well. We kind of thought we would at least hear something about not objecting to anything or some kind of follow up. Our agent has been in contact today to follow up on the purchasers loan and their agent responded so it's not radio silence. We didn't anticipate anything big coming back - we purchased this property a little over two years ago and over hauled quite a bit and everything that came up on our own inspection has been remedied. Is it normal to not say anything? I guess my real question is: If the buyers agent is dumb and didn't realize today was the deadline and it passes but tomorrow the buyers do want to object...what happens? CO - North Denver suburbs [link] [comments]  |
| Interested in getting into real estate Posted: 04 Sep 2018 06:27 PM PDT Hey guys, I'm 19 years old. I'm currently in the military and I've realized I'm able to save a lot of money and I want to start investing. I thought real estate has always been interesting and I've been trying to do some research about it. I have a relative who does it and I've seen her make a lot of money doing it. I wanted to know some advice, or anything you would've liked to hear before getting into real estate. Anything helps thank you! I'm from Miami, Fl! [link] [comments]  |
| Best way go find a home in the woods? Posted: 04 Sep 2018 09:59 AM PDT As the title says I am looking for a home, but i would prefer it to be in a wooded area with a lot of trees. I know this is an odd request and it is difficult to locate these from websites alone. Any suggestions on a good way to locate these types of homes for sale? Thanks. Location: Middle Tennessee area [link] [comments]  |
| Canceled Contract During Option (TX, USA) Posted: 04 Sep 2018 05:19 PM PDT In Texas (I am told) we go in to contract when we decide to get serious about buying a house, put up earnest money roughly equiv to 1% of the purchase price which will go towards out down payment at closing. We also pay a fee, typically $200 or so for an option period, which allows the buyer to cancel for any reason. If we cancel during the option period, I am to get my earnest money back. Well, I did. The inspectors I hired gave me bad news. I called my realtor Friday and he electronically pushed the cancellation to the title company (who has my earnest money) and the seller. Well, it is going on Wednesday and I haven't gotten a copy of the cancellation containing the seller's and the title company's signatures. More importantly, I haven't gotten any word on getting my earnest money back. I have messaged my realtor several times over the weekend and today and keep getting responses from the selling agent like "Oh, I forgot" and "Oh, I need to use some other software to get it to my client" etc. On the other hand, they had no problem at all listing the house again as if there was never any contract at all. Every day that passes is another day I can't look for other houses and another day I have to pay double month to month rent. Question is, how do I get this moving? With a regular business transaction, I would have sent a certified letter to make it all legal, but in a 10 day option window, obviously that's not an option. The title company says "call your realtor", my realtor blames the seller's realtor, and in the meanwhile I don't have my money. The contract itself, does not outline what happens, as far as I can tell. I wouldn't think they could legally sell their house without acknowledging the cancellation and getting me my money back. Here is the related paragraph in the contract: ""TERMINATION OPTION: For nominal consideration, the receipt of which is hereby acknowledged by Seller, and Buyer's agreement to pay Seller $200 (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any earnest money will be refunded to Buyer. The Option Fee will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required." What to do? How do I even prove I gave notice when the realtors do everything (or fail to) electronically? [link] [comments]  |
| Posted: 04 Sep 2018 04:39 PM PDT Looked at a property in PA with the sellers agent, but couldn't make the numbers work. The seller contacted me and said the contract with their agent expired. Am I ok to deal direct with the seller for a possible private sale? [link] [comments]  |
| [Oklahoma] How accurate are tax assessments? Getting antsy waiting on appraisal. Posted: 04 Sep 2018 04:21 PM PDT I am looking at buying a house in Oklahoma for $76,400. The house was sold in 2008 for $45,000 to the current owners. The owners said they have made improvements since then. They've also said they can't afford to lower the sell price. Their tax assessment last year put the market value at $41,526. I know these are inaccurate, but a $30,000 difference seem like too much. For what it's worth (not much), Zillow and Trulia have put the house around $65,000. [link] [comments]  |
| Risks/rewards of a seller carryback Posted: 04 Sep 2018 08:26 AM PDT Looking at selling a development site to someone so they can build a home on it. They've offered a down payment plus monthly payments and a payoff in 5 years. What are the risks of going down that path? Anything I should look out for? Is interest income taxed as ordinary income? Appreciate any insights you can offer. [link] [comments]  |
| Posted: 04 Sep 2018 03:33 PM PDT If i end up getting licensed in high school could i just sit on that license till i graduate, or would I have to wait for summer time to get licensed. I'm planning on getting my courses over with so that i can jump into real estate right after high school. [link] [comments]  |
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