How are 1% listing fees such as what Redfin offers sustainable? Real Estate |
- How are 1% listing fees such as what Redfin offers sustainable?
- Seller claims there is no leak but refuses to let us provide a roofer to examine.
- Realtor wants his commission but they didn't rent the house ?
- Short sale declined. Foreclosure next? Scared and Confused
- Fractionals/Time Shares? WTF...Help!?
- JV Partner
- I am a property manager who got hit with a code violation for too many tenants which I did not know about - what are my options?
- Starting From Scratch
- Any guidelines for estimating the cost of buying an occupied property?
- Rental Income Tax Questions for Owner Occupied 2 Family
- (UK) Is it immoral to continue to view other properties after making an offer?
- Shady seller's agent tried to get away with too much and we walked out of the sale. We want to report him, how or where do we do that? Yelp? Ideas?
- Real Estate REDFIN!!!!
- Control over NYC Midtown Rent-Controlled Apartment
- Historic Table - Fixture or Personal Property?
- Survey Issue lot size????
- Seller got appraisal and inspection shows lots of repairs needed
- NYC HOA Fees ??? What In The world.
- Ethics of buying property at auction and selling back to original family [AZ]
- Looking for a new home in NYC - Queens
- How to market French house, but avoid huge ad fees?
- Wait for VA Loan or Purchase early?
- One thing I hate about Redfin - they silently change their own prior estimates of listings.
| How are 1% listing fees such as what Redfin offers sustainable? Posted: 26 Oct 2018 06:04 PM PDT Could someone explain how such a low fee is sustainable after factoring overhead and paying the agent? Is this a loss leader? What is the long term strategy? Even the concierge service of 2% which includes staging, painting, and a deep clean seems too good to be true. [link] [comments]  |
| Seller claims there is no leak but refuses to let us provide a roofer to examine. Posted: 26 Oct 2018 04:12 PM PDT My wife and I have an offer in on a property and have completed the home inspection. There appears to be a water stain on the ceiling of the living room and missing shingles on the roof in the same area. The living room has a high ceiling with no attic above. There are two areas where the drywall tape is lifting slightly as well. We believe there possibly is a leak and want to have a roofer come out to the home and take a look. However, the seller had originally refused our request stating (in my own words) that there was no way of knowing the contractor we found would be impartial, suggesting we would ask the contractor to lie in favor of us. They have stated since the home inspection that there is absolutely no leak and they don't know what the stain is (that it could be glue?). My thoughts: Let them pick their own roofer to examine the roof, get a full report and their license number.
[link] [comments]  |
| Realtor wants his commission but they didn't rent the house ? Posted: 26 Oct 2018 08:26 AM PDT Hi everyone excuse my lack of knowledge in this ,im just here asking this question for my mother . My mom owns a house that she wanted to rent so she went to a realtor in her neighborhood to list the house. Now fast fowarding almost 4 months the agent has not had even one person to view the house. Only one family came but never made it out the car (broker claimed they left because it wasnt a jewish community and there are no places of worship around) So Long story short , my mother took it upon herself to get her house rented and now they are calling her asking her for their commission since she "went behind their backs" ? are they entitled to anything being that they really didnt rent the house ? [link] [comments]  |
| Short sale declined. Foreclosure next? Scared and Confused Posted: 26 Oct 2018 06:59 PM PDT Please forgive the long post. Posting for a friend: My now ex-wife and I purchased a fixer-upper home together in 2007, in a "gentrifying" neighborhood in Baltimore, MD. House is about 2000sf, built in 1912, rough shape. Inspection at the time revealed structural issues, but we decided to buy anyway. Bank didnt care I guess? Purchased it for 140k 30yr loan, 4%, with 0 down. Took out extra loans for the down payment. In 2012 my partner and I separated, and we each moved away from the area for personal reasons, and began renting the house out to friends. Over time, friends came and went, condition of house began to decline. Constant expenses (old radiator system, roof leaks, etc) began to pile up, plus tenants did not pay bills on time, and my name was still on the acct. so we decided to come back, fix up the house, and sell it in spring 2018. Have 120 outstanding on the mortgage, and want to sell for 140k. Cleaned up the house, began to try and sell, and found buyers couldnt get the house to pass inspection, (maybe another way of saying this, is that the bank wouldn't give a loan big enough to cover our asking price.) After a few months of buyers not being able to get financing, we were advised to try and do a short sale. At this time, the house was completely empty and unsupervised for months at a time, and in fact squatters did break in for a while, but we were able to have the cops throw them out. extremely scary. The neighborhood has not changed much in 11 years--still fairly rough. Short sale offer 1 comes in, and bank rejects it. That paperwork is now 'cleared' or whatever the term is. I have now stopped paying my mortgage for the past two months. A new short sale offer came in 2 days ago. Suddenly, my relator calls me and says somebody has changed the lock. apparently a company called Nations Property Solutions came over, broke in, changed the locks, winterized the house, and mowed the lawn? I called the bank, and they did not admit to doing it. They said they had NOT foreclosed on me. My ex called, and I guess got a sympathetic lady there to tell her the lockbox code for the new key! so i guess the bank did do this. Am I being foreclosed on? Is there any chance the bank is going to accept this 2nd short sale? I am afraid that if I am foreclosed on, I'll have to declare bankruptcy. I have no other assets, 0 net worth, and am currently unemployed. I live on the west coast now, so it is very hard to manage this situation from 1000 miles away. [link] [comments]  |
| Fractionals/Time Shares? WTF...Help!? Posted: 26 Oct 2018 07:19 PM PDT What the heck? So I've always liked/been intrigued with real estate. Recently I was looking at properties in Mammoth Lakes, CA and came across a fractional. One, I never heard of this, two, there's no way this is worth it, and three, isn't this just a fancy sounding timeshare? I really want this to be a good investment, but I get a feeling it's a money pit, but not sure why. This is what I do know...It's costs around $200k-$250k (3bed+2bath), you get to stay there 42 days out of the year (basically guaranteed a room; you most likely don't stay in any one room in particular), available for friends and family (don't think you can airbnb or rent it out), you own a portion of it after paid off. I was thinking of going in on this with my parents who enjoy going up a few weekends a year. I'm usually in Mammoth 14 days in the winter and 10+ days in the spring-fall time. Here is a link to their website: http://8050mammoth.com/ Any input appreciated. THANKS!! <3 [link] [comments]  |
| Posted: 26 Oct 2018 09:55 PM PDT Looking for a JV partner for a 4plex in Fort Saskatchewan Alberta. PM me if interested. [link] [comments]  |
| Posted: 26 Oct 2018 01:58 PM PDT I am a college student living/managing a property that has 5 room and 5 tenants living in it. The city I live in has a law that states a maximum of 3 tenants are able to rent a specific home. Neither us nor the landlord knew about this law until we got hit with a code violation notice 2 weeks ago. All 5 of us would like to stay in the house, and I'm close with the owner as well as another student. I suggested us become part owners of the place and we're meeting on Sunday to talk about it, but I have no information on how to go about it. What should I do? [link] [comments]  |
| Posted: 26 Oct 2018 09:27 PM PDT Whats up everyone, I have always had a drive and passion to become a real estate agent. I am a 21 year old male and currently just moved to Atlanta Ga USA about a year ago. I am about to enroll myself into a college/school and I was wondering how would I start from scratch to be one step closer to a real estate agent? What courses/classes should I take in college? I have great handy man/maintenance skills for homes (Drywall,painting,remodeling,landscape,Floors) if that might play into my advantage. I also am very close with my mothers landlord who sells houses for a living in Florida/Georgia as well. (Again if that can come into my advantage I'm sure I can invest into something) How should I start?? I am very out going I'm knowledgeable I am a clean sharp looking person with a great mouth. Thank you! [link] [comments]  |
| Any guidelines for estimating the cost of buying an occupied property? Posted: 26 Oct 2018 05:40 PM PDT Obviously the numbers will vary from one homeowner to another but I'm just curious if there are any general guidelines or numbers that could be used as a base for estimation. I'm considering the idea of buying a number of occupied properties in order to get the "perfect" piece of land to build my dream home. I'm sure I'll have to make a solid offer, above the current market value, in order to convince the current owners to sell but if there is some way to estimate I would appreciate it because it could help me decide what lots to go after. Thanks for reading. [link] [comments]  |
| Rental Income Tax Questions for Owner Occupied 2 Family Posted: 26 Oct 2018 11:17 AM PDT Hi All, I am a recent homeowner of a 2-family house. I live in 1 unit while I rent out the other. Getting close to the end of the year, and I am not sure what I can deduct from the rental income. I have read "Supplemental Income and Loss" (Schedule Form 1040), but had some questions: Basis calculation: The first thing I did was calculate the rental unit Basis. To do this, I took the square footage of the rental unit, divided by the total square footage, and multiplied by the price I paid for the house. I then added the cost of a bathroom remodel preformed to the rental unit after I bought the house. Deductions I know I can take:
Things I don't know how to deduct. Any suggestions on how to handle the below? Based on the IRS publications, I think I can deduct most of these items after I "split" the cost between rental unit/personal use (I'm thinking to multiply costs by the same square footage ratio)
Depreciation Recapture:
[link] [comments]  |
| (UK) Is it immoral to continue to view other properties after making an offer? Posted: 26 Oct 2018 06:44 PM PDT Lawyers have not yet been instructed. I have a few days to view other properties prior to searches being run etc. I am realising I acted in haste and I can probably get better for the price. I didn't view much in the area and didn't appreciate just how far my money can go. The problem is I hate letting people down or behaving unethically. I feel like this is unethical. Legally I am able to withdraw without financial consequences, so I'm not concerned about that. Does anyone have thoughts on this? Edit: to clarify, my offer has been accepted. [link] [comments]  |
| Posted: 26 Oct 2018 05:38 PM PDT Tried to buy a house and the seller's agent was shady as hell. To summarize: -We offered full asking plus 50% closing and fees the house was not being sold "as-is" -The seller's agent first stated that he didnt want to work with a VA loan but he would take it to his client. -The Seller's agent lets our offer expire because he wants his other buyer client to buy the property so he can make money on both sides. (Told our realtor this). -Comes back and asks if we still want it. We do and homebuying process begins -We find out the agent did not disclose that it is HIS property he is selling. -the house is a flip that was done with no permits, which was also not disclosed. -gives us a clear inspection report. We notice some janky plumbing and order our own inspection which finds an original and non-operational a/c. Some plumbing issues and a leak. Plus a couple minor things. -he responds to the request for repairs by denying our request for a credit, says the a/c doesnt need to be addressed because that is what the home warranty is for and agrees to fix a couple minor things but wont respond to our request for permits. -several back and forth exchanges where he is rude and still does not respond to our request for permits. -we report him to county code enforcement. Our realtor contacts the broker who takes over the listing and assures us it will be professional from here on out. -after a week we are told the inspection is done and permits will be coming. We have to get an extension on escrow which is $1000 because of the delay. We ask for a $6000 credit for the trouble, disclosure violations, future a/c replacement ( it wont last a year) and the cost of extension. Seller refuses and we walk. He tried to get away with so much and was a jerk. We want to make sure other people know he is shady. Can we report him somewhere? Best places to leave bad reviews? [link] [comments]  |
| Posted: 26 Oct 2018 08:36 PM PDT I don't even have a Real Estate license yet. Annihilate my infatuation with becoming a RedFin Agent. Or is it in fact so disruptive that it threatens your business, relay your thoughts. If you're with RedFin explain the weird extremes between positive and negative agent reviews. What's cause for success? Is it worth it? My entire interest in real estate, is to effectively emulate to some measure Stephan Graham(YouTube), I'm 21yrs old. Additionally, is it possible to stream personal sales income with the rental income under a sole proprietorship LLC? [link] [comments]  |
| Control over NYC Midtown Rent-Controlled Apartment Posted: 26 Oct 2018 07:23 AM PDT Hello! Sorry for the naivete and (likely) often repeated question. My friend's aunt has an apartment, great location, rent-controlled. She has lived in this unit for many years. As she gets up there in years, a thought occurs- I want to make sure the option to continue renting this unit is available to my friend. What considerations should I make? Do I need to add her name to the lease? What will prevent a smooth transition when the time comes? Should I talk to a property manager or lawyer? Thanks in advance. [link] [comments]  |
| Historic Table - Fixture or Personal Property? Posted: 26 Oct 2018 04:02 PM PDT My parents just bought a house in California, and they were excited to learn today that all the cabinetry in the home is done by Sam Maloof - a noted furniture designer. They also were told that Maloof had built a custom game table (worth thousands) for the home that has been passed with it through all previous sales, but apparently the seller took the table out before my parents saw the home so they knew nothing about it. I know the table is likely considered personal property, so the seller was allowed to take the table out and not include it in the deed, but considering that it was custom built with the cabinetry and has been passed in all previous deeds, do my parents have a sufficient case to try to get the table as it could be considered a fixture because it was intended to stay with the home? [link] [comments]  |
| Posted: 26 Oct 2018 03:51 PM PDT Hello, I am buying a property(NYC) owner/real estate agent said lot size is 100ftLx30ftw.Tax plan/ title search indicates 100x30. Issue came when Surveyor did the survey? Surveyor indicates the property is 84ft(L) x 30w. What can be done so I don't have issue when selling the property in the future? Should I Negiogiate price? If so how much should it be reduced? Buying for 550k. [link] [comments]  |
| Seller got appraisal and inspection shows lots of repairs needed Posted: 26 Oct 2018 09:22 AM PDT My seller got an appraisal. The house was given a lower quality and condition rating than comps. The inspection revealed that the house needs 40k in repairs/replacements. Seller is insisting that the house should sell at appraisal. That the appraisal includes that repairs are needed. My husband thinks that the seller should be selling below appraisal to compensate for some repairs that an appraiser wouldn't notice but an inspector would. Like small roof leaks and damage or appliances not working. How does this work? [link] [comments]  |
| NYC HOA Fees ??? What In The world. Posted: 26 Oct 2018 10:38 AM PDT Hello, I`m from Europe, And I have a Question about HOA Fees. What shocked me is the Fees .... This Building have 166 Units and the only amenities it have is Elevator and a Door man . [link] [comments]  |
| Ethics of buying property at auction and selling back to original family [AZ] Posted: 26 Oct 2018 01:46 PM PDT I acquired a vacant quarter acre property in a densely populated suburban neighborhood that was being used by the previous owners as their personal junkyard. Original owners didn't pay their taxes, county seized land. Years passed and I paid $3k for it at a county auction, property was appraised at $22k, and I bid against the original owner to buy it. I have easement. Received a quit claim deed free and clear, no redemption period, property is mine. Some extended family members of the original owners have contacted me and want to buy it back. How would you guys handle this? They know I paid 3k and also know the value of it. I'd like to sell back to the original owners if they really want to keep the land in the family but at the same time I'm a capitalist. Would you investors feel unethical making them pay full price knowing you'd be making nearly 700% profit? [link] [comments]  |
| Looking for a new home in NYC - Queens Posted: 26 Oct 2018 01:04 PM PDT Greetings! A little bit about myself, before I get into my question. I was raised in queens ny my whole life, and primarily lived in the Flushing area. As I am now much older and looking to purchase a home for the first time, I am looking for some advice from anyone who has purchased one recently near or around the area of queens NY. At first, I was looking to purchase a home in Flushing, because beleive it or not, its going to be come the next hong kong/chinese manhattan. Realestate/business wise its a goldmine, trust me. It will officially take over within the next 10-20 years imo. However living here my whole life, I want to move out more east (long island) especially for my parents and family. Thus my question, if you could move or relocate to any long island location in ny, where would you move to? I want to move to a fairly safe neighborhood, and still close enough to the city that I can take the LIRR (near LIRR is a huge plus). I have limited to 4 cities. Littleneck, Greatneck, Manhasset, and Roslyn. I believe Roslyn is the cheapest of the 4, but usually considered not as safe/demanding compared to the other 3 cities. I feel that Manhasset is the most expensive along with Greatneck, but both close to the LIRR, and relatively a safe neighborhood. But again, very expensive neighborhood. With Littleneck being in between. Given that a budget could be a factor, whats the best balance? Is Manhasset sustainable and more importantly continue to have continue real estate growth? Such questions makes it hard to choose between the 4 cities. If anyone has any experience with moving to any of these locations, please let me know! I can pay you for your time as well. Thank you for your time, and hope to hear from some of you. [link] [comments]  |
| How to market French house, but avoid huge ad fees? Posted: 26 Oct 2018 12:15 PM PDT A neighbour here in France wants to sell his house, and he's asked me how he might advertise it abroad. He has put it on Le Bon Coin (a general classifieds site in France), but isn't familiar with foreign sites and whether they're worth it. He doesn't want to pointlessly spend hundreds of euros on ads no one looks at. Personally I'm familiar with RightMove (a large UK site, but it costs over €330 to list a property), and daft.ie (an Irish site, only €95, but not a natural place to look for French property). Google brings up all manner of sites where you can list your property, but I don't know which ones are worth it. Anyone have experience of selling French property, and how to effectively advertise them? [link] [comments]  |
| Wait for VA Loan or Purchase early? Posted: 26 Oct 2018 05:27 AM PDT I am trying to decide if I should purchase my first home sooner, rather than later to take advantage of lower home prices in a popular neighborhood in the Baltimore-DC metro area (15% median increase over the last year). I'm looking for a home around $300K, with about $25K to put down. I can purchase now, using a piggyback loan or with 5-10% down and PMI. However, I'm also eligible for a VA loan in 2 years due to reserve military status. Is it smarter to just hold out for the VA loan, or go ahead with a purchase sooner and take the Piggyback or PMI and try to take advantage of the relatively lower home prices (and stop wasting money on rent)? Pros vs Cons appreciated! Thanks [link] [comments]  |
| One thing I hate about Redfin - they silently change their own prior estimates of listings. Posted: 26 Oct 2018 10:23 AM PDT Just a another reminder to take redfin estimates with a grain of salt and do your own valuation. I bought a home for $500k earlier this year, let's say it was May. At the time I started the buying process, we were above redfin's estimate by 1-2 thousand. By the time we closed, we were under it by 1-2 thousand. So let's say in May the estimate for May was $501k. In june, they stated its value in june was right around there. I think it went up a it. Checked again in July, and the estimate for May had gone down a bit, but July's was up to $506k Next month, May through August are all below $500k. Then in september, september itself is above $500k but all the previous numbers had shifted around again. So on and so forth. Understand that when you look at the graph of prices, you aren't seeing what redfin's prior actual estimates were at that time of the year, but some kind of backwards projection based on current market conditions and price. If we go into a big buyer's market over the next year, I'd expect redfin to tell me this home was worth in May of 2018 well below what I paid. If we go into a seller's market, I'd expect Redfin to say that I paid well below value for the home. It'd be kind of like NYSE saying, in January, that the DJIA was worth $25k, and then you check again today and they've adjusted their chart in January to say, well, since it isn't doing so well now it was actually worth $22k in january, and adjusting the graphs to reflect that. [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment