Home flippers are fleeing the market as their profits shrink Real Estate |
- Home flippers are fleeing the market as their profits shrink
- Working Remotely: How Furnished Residences Can Benefit Digital Nomads
- San Francisco STR - 2mil fine
- Successful real estate agents, what criteria would you use to pick a broker if you were a new licensee?
- Buying a rental and a owner occupied home at the same time.
- Home warranty on new condo ?
- Calling all Reddit agents...I need your help in a bad way!! MLO interviewing for a management position and I need to know what makes you tick. Why/how do you choose a bank or lender and what could I do to get you in my corner? Love Reddit in general and all help is much appreciated!!!
- I have an idea for a service for long-term renting. I want to hear your critic and suggestions as landlords.
- Buying property from the Michigan DNR
- What can you expect when showing your home?
- Which website to use to search for homes?
- Should I walk or continue with the builder | Need advice...
- Price: remodeled v dated
- Stay away from house that has been treated for termites?
- CoreLogic - any reviews?
- Boston area deal questions... should we pull trigger?
- Hard time deciding between two houses, A has a great location and yard but needs updating, B has been beautifully renovated but has less desirable location and yard is just ok. Any advice?
- When can we find out disclosures?
- ELI5 - What does 'MLS Price Index' mean when discussing price changes?
- Seller cut foundation slab - how big of deal?
- Deed in Lieu of
- Ways to pay $0 down on a house?
- Missed by inspector; any recourse?
- How to deal with my property manager?
| Home flippers are fleeing the market as their profits shrink Posted: 05 Nov 2018 08:08 AM PST Interesting article . Definitely seems a lot tougher to flip a home since there is hardly any distressed inventory on the market , and everyone is looking for deals off market too plus labor /material costs have gone up a lot . In CA it seems a lot of flippers will get hurt once the market turns as many are working on about 10% -15% profit margin of sale price . That can disappear pretty quick . A rough combination of higher costs and lower demand is putting a chill on the once red-hot house-flipping market. After the epic housing crash, flippers poured in, buying up distressed properties at bargain prices, fixing them up and flipping them either to residents or to other investors. That continued for years, but now the math isn't working so well, and some flippers are fleeing. https://www.cnbc.com/2018/11/01/home-flippers-are-fleeing-the-market-as-their-profits-shrink.html [link] [comments]  |
| Working Remotely: How Furnished Residences Can Benefit Digital Nomads Posted: 06 Nov 2018 04:21 AM PST Working remotely is progressing fast. Keep reading if you think that a digital nomadic lifestyle is right for you. Read more: https://www.macsuites.ca/working-remotely-how-furnished-residences-can-benefit-digital-nomads/ [link] [comments]  |
| Posted: 06 Nov 2018 04:02 AM PST Wow the city really stuck it to this couple. Damn. If what the city alleges is true, they really deserve it. [link] [comments]  |
| Posted: 05 Nov 2018 07:50 AM PST I'm taking my real estate exam shortly and I'm having trouble choosing a broker. [link] [comments]  |
| Buying a rental and a owner occupied home at the same time. Posted: 05 Nov 2018 04:27 PM PST So I'm thinking of buying a single family property for a rental and potentially buying my home that I will live in about 6 months apart. Here is the question. I know right now you can buy an investment property with a 15% down conventional loan. Can you still buy an owner occupied home with 5% conventional loan? [link] [comments]  |
| Posted: 05 Nov 2018 10:17 PM PST Bought a new condo. My PSA has a warranty addendum and I suppose the warranty provider is the builder. But there are no details about who to contact if there are issues etc., Does a typical builder warranty cover things that a home warranty provider does like 2-10 ? Should I get a home warranty ? [link] [comments]  |
| Posted: 05 Nov 2018 09:22 PM PST |
| Posted: 05 Nov 2018 08:45 PM PST Hi there! I just come up with an idea of making a long-term renting service. I think it will be a web service, powered by a mobile app. The main idea is to connect long-term renters with landlords. I think it will be a great service for landlords who are interested in building a strong and mutually beneficial partnership with their renters. You can be sure about income from your property for years with long-term tenants. I want to hear your thoughts and suggestions about it, because I want to create a useful service. Do you find it useful? Do you have experience with long-term renters? How your affairs with them can be optimized using a digital product? Thank you for attention, community! [link] [comments]  |
| Buying property from the Michigan DNR Posted: 05 Nov 2018 04:46 PM PST When you buy a property from the DNR via auction that was acquired by tax reversion or in general (this particular property was acquired by DNR in 1994), are there any sort of additional fees that need to be paid outside of what you would pay as the winning auction bid? Thanks guys. I know it's an oddly specific question, any information on the subject is immensely helpful. [link] [comments]  |
| What can you expect when showing your home? Posted: 05 Nov 2018 11:24 AM PST I'm posting on behalf of my parents who are selling their home. My mother is disabled and they have 3 dogs. They keep having showings scheduled and no one actually comes. Is this typical? It's like a whole big thing to get my mom out of the house and they can't even go out to eat or something so they just drive around with the dogs. They also have people going through their personal things. They know this because one time they came back to a huge dent in my brothers guitar and another time they came back to my brothers dresser a few drawers were like half open. The dresser clearly doesn't come with the house, but its specially built and kind of flashy. Is this just to be expected? Is there any way to control this? Location: South Jersey [link] [comments]  |
| Which website to use to search for homes? Posted: 05 Nov 2018 04:10 PM PST I remember using Redfin for a bit, but they apparently no longer have a "list view" when browsing. Are there any sites that still have a traditional list to view while browsing? Having to sift through a handful of photos for relevant information is much more difficult. [link] [comments]  |
| Should I walk or continue with the builder | Need advice... Posted: 05 Nov 2018 03:54 PM PST I am need of some 3rd party opinions.... Background: We entered into an agreement last month with a home builder to build a spec home. Our "forever home" to raise the kids in. The area is relatively hot and the builder had (1) lot left in their section. They were planning on building the house and selling it. We showed interest and they said we could make changes. We went through two design sessions and made our changes. We had two - three weeks finalize decisions because they were proceeding with the build one way or the other. We all agreed to the changes, paid a small deposit (.005%) to lock it in. They started building. Everything was going fine and I had to write a check for 5% of the purchase price. I wrote the check, but recently experienced some red flags and put a hold on the check before they could cash it. I am looking to understand if these red flags are enough to cut my loss and walk away from the .005% deposit. Red Flag # 1 - In the past two weeks they have made lots of errors (wrong door, wrong fireplace, wrong shingles, wrong size garage, wrong HVAC unit, wrong framing in the basement and wrong windows). Our main contact says it's was to be expected since they had already ordered everything. They claim that they fix all the errors and deliver on what we agreed to. My concern is that instead of slowing down and building it right the first time, they proceeded to install all the wrong stuff and fix it later. It's clear they are rushing the build, so I am concerned about what else I may be missing. Am I going to finding more issues and mistakes later. Are they skipping steps in the process. I hired a 3rd party inspector to come onsite this Thursday. Red Flag #2 - We went by the house on Saturday to look at some of the electric work that needs to be changed. During that time we noticed that we missed a detail in the kitchen. We wanted the fridge on the other side of the cabinets. Same area, no change in cabinet design. They would have to rerun the water line, but overall would require no major changes. When requested, we were told a hard no. I offered to pay money and was told no. They have a policy in place saying no changes allowed. I know it's a small detail but we will have to live with this decision every day for the next 20 years. It was my mistake for not catching it earlier, but we were rushed, had never built before and there was lots of other decisions to make. Clearly it is ok for them to fix their mistakes, but I was not allow to fix my mistake. SOOOOO.... I was fired up on Saturday so I checked and they had not cashed the check from ~9 business days ago for the 5%. I called the bank and put a hold on it. I told the builder what I did, shared my concerns about the mistakes, and explained how important this change request was to me. They were very aggressive, made us feel that we owed them as they went out of their way to accommodate original changes to the home (the same changes they said we could make) and that I should have made this decision earlier. Moreover, they didn't see their errors as mistakes, since they said they were to be expected and I should call them "changes". Well, we just found out today (Monday) they will they will make the change for $1,025. I think they are only making the change because I put the check on hold. Otherwise, they would not have accommodated the request. I've never built a home, but I am genuinely concerned about all the mistakes, their unwillingness to be flexible, and overall bad customer experience. Why not slow down and do it right. I get stuff was already ordered, but why install it, then tear it out to fix it again later. Should I be concerned about how quickly they are rushing the project. Could it lead to future issues. How about the bad customer experience and negative attitude. My question....are these red flags and concerns enough to walk away? I am ok with the loss .005% but the 5% would hurt and I would lose all future leverage. TL:DR: I put a check on hold on with the bank before the builder could cash it due some recent issues that arose. I am questioning if I should proceed with the purchase or walk way...please help! [link] [comments]  |
| Posted: 05 Nov 2018 09:52 AM PST I am looking for a townhome to rent out. I have no experience remodeling. In the same complex I see some homes with great flooring, paint, newer cabinets, nicer countertops for $246k. The comps are in line with the asking price. Then there is one that is in good condition, but none of the extras for $236k. Obviously for $10k more I'd go for the remodeled one. BUT, what would be a good deal if I wanted to try for the dated one first? At what dollar amount would you buy the dated one over the remodeled one? Edit: 3 bed, 2 bath, 1,100 sq ft. Main differences: -Cabinets in Kitchen and both Bath: 2000's, versus "original" 1977 -Countertops in Kitchen and both Bath: Quartz versus Laminate -Flooring: Wood (good condition) versus Carpet (ok condition) [link] [comments]  |
| Stay away from house that has been treated for termites? Posted: 05 Nov 2018 07:01 AM PST We are interested in a house in Philadelphia that is about 100 years old. The sellers disclosure said the property was treated for termites, but that the company said it had a guarantee. Would this be something we definitely would want to pass on since the termites could have caused damage? Or is it worth waiting until the inspection? [link] [comments]  |
| Posted: 05 Nov 2018 05:43 PM PST I'd like to pull some property record data - any of you currently use it / have any reviews? [link] [comments]  |
| Boston area deal questions... should we pull trigger? Posted: 05 Nov 2018 05:25 PM PST So my partner and I are in talks with an owner in Weston MA about a 3b/2ba. Is got good bones but hes asking 575k for a 1 acre property. We think the ARV is somewhere around 850k and the total rehab (fresh interior / some exterior / some hardscape, holding costs, investor waterfall, etc) will sit somewhere around 210k and 6 months time. The property is on a fairly busy road though and we arent sure about the deal. Anyone familiar with the area? [link] [comments]  |
| Posted: 05 Nov 2018 09:03 AM PST This would be our first house, we have a 1 yr old kid, planning for 1 or 2 more. Houses are in suburbs of Montreal. Both houses are located close to one another, so commute time, schools, services are the same. Both are bungalows built in the early 1950s, with 1 car garage. House A is on beautiful tree-lined quiet street (one way). Neighbours all around are young families with kids. Beautiful fenced in yard (new wood fence). The house has east-west orientation, gets lots of sunlight during the day. Current owner has done a lot of the necessary renovation (roof, doors and windows, fixed the foundation and french drain, insulated the basement and attic, electricity, sewers). Everything on the ground floor is the same as in 1953, nice and clean, but dated and cramped. Basement is unfinished and 7ft only. Asking price : 399k. House B is on slightly busier street (two way), with fewer trees, less homogeneous houses. Neighbours are retirees (which is fine but means fewer friends close by for the kids). Yard is smaller, adjacent to the parking lot of a nice-ish appartment building. The parking lot is a good 3ft higher than the yard (with a pretty steep drop, then flat terrain, so not sure how bad it is for spring flooding). House has North-South orientation, so not optimal for sunlight. Everything inside has been redone beautifully (not necessarily my style, but neutral enough to take it as is) the last 3 years by current owner who is an architectural technician. This was not a cheap flip, she had some top notch professionnals do this. Great attention to detail. Asking price 420k. My SO and I are debating. Thoughts? [link] [comments]  |
| When can we find out disclosures? Posted: 05 Nov 2018 12:43 PM PST We are looking at a piece of property to buy. Our agent has said yes, there are disclosures. However, she said we can't find out what they are until after we submit an offer. Seems backwards- We might not make an offer if the disclosures are too awful, or we might adjust our offer accordingly. Is this right? [link] [comments]  |
| ELI5 - What does 'MLS Price Index' mean when discussing price changes? Posted: 05 Nov 2018 12:36 PM PST I was reading our latest market report here in Toronto, Canada which says: The average price for October 3018 was up 3.5% on a year over year basis. The MLS Home Price Index Composite Benchmark was up by 2.6% compared to October 2017. My understanding is that benchmark price is the average price but excludes properties that are unique. and Price Index measures the rate of change... How would Price Index be calculated? Is it -- (average benchmark price change each month) (divided by) 12 months ) ? Seeking help please. Are benchmark price and Price Index two different measurements? Why is the term 'MLS Home Price Index Composite Benchmark' used? [link] [comments]  |
| Seller cut foundation slab - how big of deal? Posted: 05 Nov 2018 11:42 AM PST Hey all, I'm looking at a 1943 home where the foundation slab has an approximately 3' wide or smaller completely cut through in order to make a "nice" entry from the outside into a workshop in a dug-out crawlspace. The cut area is something like 6-10' away from a corner of the house. We can see some stairstepping in the CMU block wall nearby where a mortar repair was done, but no evidence upstairs of shifting (door jambs, drywall cracks, etc.) Just curious what the community thinks from a longevity perspective? I would like to be in the home for a while. What sort of repairs, if any, would you consider (lentel/header, repair to footer, etc.)? I tried getting a foundation shop opinion over the phone but they would not say anything without an on-site inspection. Edit: clarity [link] [comments]  |
| Posted: 05 Nov 2018 08:33 AM PST So my wife got a position in Baltimore. Our real estate agent is not doing a good job and we will be moving if we sell our house or not. The house is in my name. Eventually savings will run out and we wont be able to afford both our rent home and mortgage. If I were to do a deed in lieu of even after trying to sell the house. Will my wife and I be able to get a house together even if this ruins my credit. [link] [comments]  |
| Ways to pay $0 down on a house? Posted: 05 Nov 2018 02:27 PM PST DETAILS: I'm a 22 year old male, I live in Florida and I want to buy a house. I currently work as a software developer making 48k (first job out of college) and I got a new job making 60k but I don't start for another week or so. My wife and I want to buy a house in 6 months and currently have 1,000 for a down payment, but I was wondering if there are any ways out there to get into a house with $0 down. It would be relatively cheap (80k-150k) and it would be our first home. I'm totally new to this so any and all help will be appreciated. EDIT: My wife and I plan to save about 1,000 per month until out lease is up in May. That's a very important detail I left out. I was asking this because If I could get in with 0 down and put that money to closing costs/ initial expenses. [link] [comments]  |
| Missed by inspector; any recourse? Posted: 05 Nov 2018 01:53 PM PST Hi, just bought a home last month, had it inspected while under contract, came back with a good bill of health. Cut to current day, a heavy rain has water dripping down from a cabinet and a big water stain spreading on the ceiling. A specialist came out and revealed that the flashing installed where the porch roof meets the back wall if the house was poorly installed and water was getting behind it. This seems like something a competent inspector should have found. It's definitely something I would have wanted addressed before closing on the sale. Do I have any recourse with the inspector in this case? [link] [comments]  |
| How to deal with my property manager? Posted: 05 Nov 2018 01:44 PM PST Hi, involuntary/inexperienced landlord here. My family had to rent out a house near Seattle. I found a property manger company with good reviews online (Google and Yelp), and kind of handed it off to them from there. They found a family to rent the house out. However when I checked the lease agreement they sent me, there was no phone number of tenants on it (only names). I would like to speak with the tenants, introduce each other and get to their family a bit without the pm. Is it common practice for the pm to not tell owner tenants contact information? There are a few things about the property manager that annoyed me a little:
Are these normal, and how should I deal with the property manager? Since I'm managing it long-distance, I want to go the most convenient path and protect the property as well. Thanks for the advice! [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