What has changed about buying a home nowadays vs before the last recession (08’)? Are bigger down payments needed? Better credit score? Are interest rates higher? Ect. Real Estate |
- What has changed about buying a home nowadays vs before the last recession (08’)? Are bigger down payments needed? Better credit score? Are interest rates higher? Ect.
- [CA] Older Condo Building falling apart, reserves are low - sell even though it's in a hot neighborhood?
- Good luck for anyone closing with a FHA or USDA loan before the end of the year!
- 40', 50', 60' homesites
- [OR] Seller's agent didn't return calls or emails.
- Selling home, counteroffer question
- [Help] Will be selling home in a few years - should I make this improvement first?
- Buying real estate in Europe for renting
- What’s going to happen in the next real estate crash?
- Realtor called w offer
- Is this lowball ridiculous or should I give it a shot?
- What is usually the general amount a Seller will reduce their asking price by?
- Can future rental income capacity be used to get a loan to buy a property?
- HOA Increases
- What impact will a recession have on home prices?
- Salaried agents vs. Traditional
- If you end up with 5 million dollars in a real estate sale... what would you do?
- Issues with buying our first home
- Noob question
- If I see a house listed and I want to buy it with cash, or I guess a mortgage wouldn’t be much different, how do I go about that? Seems like getting a realtor is just wasting 3% for someone to file paperwork. Am I wrong?
| Posted: 22 Dec 2018 03:25 PM PST Also, I'd imagine having to compete against more and more foreign investors who have tons of cash to offer has made it even harder to purchase a home. Correct? [link] [comments]  |
| Posted: 22 Dec 2018 08:45 PM PST Our condo building is several decades old. It doesn't really have any major problems that we know of but it seems like lots of smaller to medium things keep happening - roof leaks, bad pipes, etc. The reserves have been depleted due to many of these issues, even though the HOA fees were raised two years ago to help bring it back up to acceptable levels. We are now looking at HOA fees being raised again, and are worried that there are many more problems around the corner. We were originally considering renting out our unit when we decide to either rent or buy a house (in a different area) but now we feel inclined to sell before anything worse happens. The wrinkle is that it is located in a very hot neighborhood that will honestly always be desirable regardless of bubbles or what have you. I'm not sure we could afford to buy a house in the same neighborhood (prices are in the ~1.5 range for a 3/2) although we would probably clear ~700k in equity from a sale of the condo. So if we sold we would probably rent for a while in the hopes that my SO's income takes a jump and we can buy before getting priced out even further. But if we sell and rent and things don't go as planned then we could be out of property ownership and have left a lot more equity on the table (unless we're at the top of the equity now due to the concerns with the building). [link] [comments]  |
| Good luck for anyone closing with a FHA or USDA loan before the end of the year! Posted: 22 Dec 2018 04:43 AM PST Got a property under contract to sell with the buyer going with a USDA loan...guess we'll just hang out because of all this government shutdown stupidity. [link] [comments]  |
| Posted: 22 Dec 2018 03:16 PM PST I am currently looking for houses and see these in the title of the neighborhood. Do you know what it means? Thanks in advance. example: Longleaf - 40' homesites [link] [comments]  |
| [OR] Seller's agent didn't return calls or emails. Posted: 22 Dec 2018 01:12 PM PST Throwaway account. I am an unlicensed principal broker, expired since 2006 so I have some knowledge of the process and the ethical implications. I am investing in rentals and flips now but this would be my family's home. I spent time and energy researching a property. I contacted the Realtor and, after no call back, I assumed it was under contract. A week later I see it's still listed so I try again. No response. I called 6 times and got no call back. I also emailed the agent twice, same thing. So I did the natural thing, I looked up the seller's address and wrote them a letter basically stating I tried to contact the Realtor but they didn't reply and I was interested, gave them my number and thought nothing of it. Then weeks later I get a call from the seller. They tell me that I'm not the only one who has told them the agent has not responded. The seller sent a contractor over and in the few hours he was working the contractor said 3 couples doorknocked the sign. It's definitely a hot property so I did the smartest thing and wrote an offer, submitted it directly to the seller. Prior to, I filed an ethics complaint with the agent's local board for an observed breach of fiduciary duty and potential conflict of interest. I should note the seller's agent is the principle broker of her office so there is nobody above her. To me agents only ignore phone calls under 2 circumstances. My point to the seller was that the agent violated the terms of their contract. Seller's are good, loyal people who, despite this, don't want to do anything that would leave them liable. This and they feel as if they should uphold their end of the contract, even though the agent dropped the ball. So my question is...did I do the right thing? Is the seller justified in cancelling the listing contract based on the knowledge the agent not only didn't return my calls but other buyers, as well? Am I justified in writing the offer with no commission to the agent? I even offered to be on the hook for the commission if an issue becomes of it but the seller let my offer expire and is reluctant to go forward because of this. [link] [comments]  |
| Selling home, counteroffer question Posted: 23 Dec 2018 12:00 AM PST We are selling a home that had to be gutted to the studs and repaired completely in several rooms due to flooding. We listed prior to completion and received an offer. The offer was "600k earnest $5,000 deposit 30-day escrow FHA Financing (a bit tricky to get it approved for this loan but buyer has agreed to pay for any lender/bank required repairs. Everyone to pay their own closing costs Stove needs to stay and be functional for this type of loan" per my agent What I am focusing on is: Buyer would like to pay any remaining loan required repairs. How does that work exactly? Do I have my contractor stop the rest of his work while we go into closing (closing date 1/31) or do we let him finish and they pay his remaining fee? How common is this scenario? (Stove top has two working burners, should I go ahead and replace it? It's 24 years old and all 4 burners worked up until this year) ETA: the title was worded wrong. I meant to ask about the offer itself. My apologies [link] [comments]  |
| [Help] Will be selling home in a few years - should I make this improvement first? Posted: 22 Dec 2018 05:58 PM PST It's a small, VERY old but charming home. It's in pretty decent shape, except that the outdoor water line (used for gardening) is too old to use. I hook up the hose to the indoor faucet instead. Would it be worth my while to replace the water line before I sell? Would it be worth the extra cost (I'm guessing about $2000)? I replaced the backyard sewer line several years ago - it had been put in during the 1940's when there was a metal shortage. It was made of tar paper; I suspect the water line is the same. [link] [comments]  |
| Buying real estate in Europe for renting Posted: 22 Dec 2018 06:01 PM PST Hi! I want to invest in such thing so i can get montly payments for owning property. I dont chase fast money. But i want it to be effective and cold money and having the ability to get it back after a years even with interest. I like the idea of buying a couple of small and cheap (30-60k$) 2-3 room apartments (houses, flats) in B, C class city in Europe and renting it. But i got confused on where to start finding such property. In which country/city should it be more effective and the property itself will be keeping its values over the years and maybe will get higher at prices little by little. I like Italy, Spain and Netherlands. Maybe Im missing something? Maybe thats not that kind of countries which i should focus on? Can you give advice on which country in Europe should i look at and what cities should i consider as choosing for buying property for renting. Also what reality should i face during owning and renting the property in Europe? Like what % of taxes should i pay for having profit on renting property and etc. Maybe i shouldnt look at getting a property in the first place and there could be better way to invest. The goal for me is not chasing hot money but keep what i have and little by little getting a little profit from it. [link] [comments]  |
| What’s going to happen in the next real estate crash? Posted: 22 Dec 2018 04:23 PM PST
With these facts in mind, I am really curious on what your thoughts are on the next real estate crash to come? [link] [comments]  |
| Posted: 22 Dec 2018 04:09 PM PST I got an offer he said but It was 50k under asking price - I countered at 13k over their offer - I have not heard from my realtor in a week With a response [link] [comments]  |
| Is this lowball ridiculous or should I give it a shot? Posted: 22 Dec 2018 08:30 AM PST Hi, I am Pre-Approved for 320k. Dream house has been on the market for 40 days, price lowered three times and now at 360k. Current sellers bought it at 350k a year and a half ago. They have a contingent sale pending which is about to fall through according to the sellers agent. The seller is moving cross country and has a house in contract in their new state, contingent on the sale of this current house. They need to move ASAP. None of the homes in the area are selling currently- it's a slow time and most have been listed 30-120 days with no movement. Is it worth a shot to have my agent send in my best offer for 320k, or would this be insulting? I figure it doesn't hurt to try, but I also don't want to be ridiculous. There's a small part of me hoping that maybe they are desperate enough to accept my offer. [link] [comments]  |
| What is usually the general amount a Seller will reduce their asking price by? Posted: 22 Dec 2018 03:07 PM PST Hello everyone, So I know this question won't have one single answer, but from your home-buying experience, how much lower are Sellers usually willing to drop their asking price by? For example, if a Seller is asking for $350k, and I start the negotiations at $250k, would most sellers not even bother negotiating? I guess I'm just afraid of starting the negotiations too close to the buyers asking price. Is there anything like an Appraisal that I could get on my own for a home I'm interested in, and then use that Appraisal to my advantage during the negotations? Thanks! [link] [comments]  |
| Can future rental income capacity be used to get a loan to buy a property? Posted: 22 Dec 2018 07:14 AM PST I know this should be a dumb question so if it is already answered, just link to the answer in the comments. How do I get a loan to buy an investment property keeping it as collateral and using its own rental income as my income source to pay it off? [link] [comments]  |
| Posted: 22 Dec 2018 08:38 AM PST General questions for those of you in HOAs: How much have your HOA fees increased since you purchased? Over how long a period of time / when did you purchase? [link] [comments]  |
| What impact will a recession have on home prices? Posted: 22 Dec 2018 07:18 AM PST Home prices tanked 10 years ago with the market, would this be something similar? I'm currently in the home buying process and getting ready to spend ~$500k on a home in Northern Virginia 20ish minutes west of DC and am trying to understand the likely impacts a recession would have. I'm thinking an area with such high demand for housing won't get hit as hard as other areas. Obviously there's a hundred factors and this is hard to predict, just looking for thoughts and conversation around it. [link] [comments]  |
| Salaried agents vs. Traditional Posted: 22 Dec 2018 09:55 AM PST Any agents out there who work for Redfin or Purple Bricks? I know you guys are salaried vs the traditional agent who is works on 100% commission. What are the pros and cons of these types of brokerages who pay their agents a salary? [link] [comments]  |
| If you end up with 5 million dollars in a real estate sale... what would you do? Posted: 22 Dec 2018 04:29 AM PST I own a industrial warehouse in miami. Own it outright. Bought it 11 years ago. Was a rough neighborhood then.Been paying attention to it lately. Zoning changed, neighborhood slowly gentrifying...etc. There is a chance that in couple of years it sells for 5 million dollars. Just because similar buildings couple of blocks over are selling for that now. I want to do 1031 exchange. Looking for 7 to 8 percent cap in a safe investment. Medical building? Apartment building? Which state? Is higher cap possible? Dont want to do any type of mortgage. Just want to own outright. Any insight would be helpful. Thanks! [link] [comments]  |
| Issues with buying our first home Posted: 22 Dec 2018 05:19 AM PST My girlfriend and I are in the process of putting an offer on a house we like thar much house searching. This would be our first house so we do not know what things are normal and which are not. We found this house with an amazing gourmet kitchen that has been completely redone. The house has also just went through getting structural/ foundation issues professionally fixed and had the basement professionally water proofed with a transferable warranty. Obviously alot of work has been done on the house and I would imagine this would be a good sign IF done correctly. Our issue being is that we put an offer on the house that was short of their listing price as comps pulled suggested other houses sold for less in the area. They rejected the offer and their counter offer was full listing price and they pay the closing costs and also that the deadline to have it inspected and signed was 10 days instead of the normal 15 days. It made us feel nervous that they were trying to rush getting an inspection done and move on to the selling process. We even did this thing I think called earnest money which essentially I think was putting 500 upfront to make them see we were serious. Also it was pending but for some reason the last people backed up and we aren't sure why. We don't know if the rush of inspection in the counter offer is normal and what could be the reasoning behind it. We did counter back with saying we'd agree to pay full listing with them paying closing costs if they gave us the full 15 days for inspections. Now we are waiting to hear back. I just feel with holidays, asking for a shorter time on inspection is crazy and maybe it raises a red flag. The house looks beautiful but we are nervous and a little worried. Most likely just first home owner jitters but we don't want burned on this house. Any advice? [link] [comments]  |
| Posted: 22 Dec 2018 12:37 AM PST I assume there is more money to be made in real estate buying an apartment complex or a just areas where you charge for rent as appose to being an actual real estate agent making money from commission so why even become a real estate agent as appose to just buying property and renting it out. [link] [comments]  |
| Posted: 22 Dec 2018 09:09 AM PST |
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