NYTimes article on gentrification, maps of several cities Real Estate |
- NYTimes article on gentrification, maps of several cities
- Financing a rental house
- Is Zillow a good way to see that's in your local market? Are there a lot of regular properties (obviously excluding retail etc) that don't get listed on Zillow?
- Advice needed on Mineral rights
- Advice for first time seller.
- Is me changing my RE Agent going to affect my loan / lender if they're best friends?
- If you had $50-$100K to invest in real estate in a LCOL area, would you buy a single family home cash or use the money for a 20% down payment on a multi family home? Why?
- What do I have to pay as a SELLER at closing (paid off house)
- Moving from large house in Nashville to small apartment in NYC. Help!
- Concern about sinkhole in adjacent lot.
- Selling to USDA buyer (AK)
- Experience with a metal house
- Partnership
- The rules of buying "as is"
- Should I contact an owner of a property?
- As a seller doing a leaseback, how do I protect myself?
- I am buying a model home and the sellers are giving me the run around on repairs that need to be done.
- What are some important things to know for someone considering purchasing a HUD home?
- Deed to house
- Builder/seller half assing because of poor wording?
- Attaching a detached garage?
- traditional financing escrow for repairs?
- Property disclosure: Is the agent supposed to give that to you without asking, before bidding? And if you ask for it, are they obligated to send?
| NYTimes article on gentrification, maps of several cities Posted: 27 Apr 2019 12:28 PM PDT The article is here: There's a very interesting video mid-way of this long article which it shows old and boarded up homes, then you cross the street and it's like you're in a different neighborhood with brand new homes. These sort of things fascinate me, I'm curious what the process is (and who's doing it) that decides this neighborhood will gentrify and this one won't. [link] [comments]  |
| Posted: 28 Apr 2019 12:48 AM PDT I'm curious if there is a way to buy a rental house with minimal liquid funds..... 1st rental house value around 30k , had to put 20% down, I've had it for 1 year so far, currently owe about 21-22k on it. It is rented and makes money every month so far. Looking to buy a 2nd rental house but I don't have the 20% cash to put down. Getting a mortgage for the 80% of the loan isn't an issue with my credit. but getting the 20% (about 15k) is the issue. My possible options that I can think of : Getting a personal loan from bank at 9.25% for 20% Taking it out against my retirement at 6% I have reached out to a possible source of money to see if they were interested in lending money with a 6% ROI (family member, and I haven't heard back yet, but also not pressuring on a response as of right now) I know I can set up a HELOC from my 1st rental but believe that would only be around 6k or 7k , also wanted to avoid doing a HELOC against my personal house if I could. Just looking to see if anyone uses/has used/knows a different avenue then listed above. Any guidance is much appreciated at this point. I'm eager to expand. Thanks everyone [link] [comments]  |
| Posted: 27 Apr 2019 02:12 PM PDT We want to move at the end of the year, and I've been keeping an eye on Zillow to get a feel for that's available, but I feel like there may be a lot of properties on MLS that never make it to Zillow, at least when we bought our house in 2014 Zillow seemed to be lagging. Is that still the case? [link] [comments]  |
| Advice needed on Mineral rights Posted: 27 Apr 2019 05:52 PM PDT I am about to close on a brand new house and caught this sneaky page in the closing paperwork. It was never discussed prior. Apparently my seller/builder/title holder, DR horton, is selling this new house to me but retaining its "mineral rights". That little blurb seems ridiculous. It doesn't tell me anything. With the weekend no one is around to answer my calls, but I will be making a lot on Monday. In the meantime I wanted to know if anyone was familiar with something like this. This is not some 1000 acre property either. This is a 2000 sq house with a 1000 sq foot backyard in a small, quiet community. How common are these documents? Why does it not get into specifics? They can come on my land whenever? For how long? Do they put back whatever they move? How could liability and damages not be mentioned in here? This seems like a bizzare document. I don't understand how it could only be a paragraph. My lawyer is not familiar with any of this either. Thanks for any help. [link] [comments]  |
| Posted: 28 Apr 2019 12:39 AM PDT Listed condo earlier this week for $295k. Received a list price offer that included financing yesterday...open house scheduled for later today. Options... A) accept offer B) proceed with open house C) counter with a number to drop the open house Any suggestions on strategy? Unit above sold for $315k 4 months ago with an updated kitchen/bath. Also trying to put together a comprehensive list of the parts of an offer that are negotiable...please add if I am missing anything. - Price - Earnest money - Appraisal contingency - Finance contingency - Inspection contingency - Closing dates Thanks! [link] [comments]  |
| Is me changing my RE Agent going to affect my loan / lender if they're best friends? Posted: 27 Apr 2019 12:02 PM PDT Okay, so I have a realtor I'm working with. I don't think it'll work out. She's a great lady, but I think she's overworked and taking on too many clients, or burned out. She can't answer the needed questions. The problem is that I found a good interest rate with her literal best friend who is a lender. (They were telling me how they've been best buds for years, etc.) If the lender wanted to be vindictive and claim the loan didn't go through if I drop her best friend (my agent), coudl she get away with that easily? Or would I be able to ask for verification from the FHA why it did not go through? I feel like at this point even though she'd be throwing out a commission, she may care more about protecting her friend than her own money. [link] [comments]  |
| Posted: 27 Apr 2019 12:10 PM PDT |
| What do I have to pay as a SELLER at closing (paid off house) Posted: 27 Apr 2019 01:13 PM PDT Here's my situation. Selling a home after living there for 15 years. It's been fully paid off for 5 years. No mortgage at all. I KNOW I'll owe realtors their 6% that is split. I THINK I'm going to have to prorate the property taxes for the year?? Anything else? Thank you! [link] [comments]  |
| Moving from large house in Nashville to small apartment in NYC. Help! Posted: 27 Apr 2019 08:38 PM PDT Moving from a 3200sf home to 1700 sf apartment close to NYC. My two kid's room sets and toys will go with. Otherwise, it just our new mattress we want to bring and certain clothes. Everything else in the house must go. No need to move it because there is no room. Question is - what is the best way to liquidate 90% of whats in your house. Art, Tables, clothes, misc kitchen items, Dressers, bed sets, armores, etc etc. Do estate sales happen when the parties haven't been deceased. Or are we stuck doing yard sales and throwing everything else out? [link] [comments]  |
| Concern about sinkhole in adjacent lot. Posted: 27 Apr 2019 05:57 PM PDT I viewed a home today that has an unrepaired sinkhole in an adjacent lot. Is this a major issue? What should I be concerned about? [link] [comments]  |
| Posted: 27 Apr 2019 11:33 PM PDT We listed our starter home Monday, first showing Tuesday and had an offer Thursday. All well and good except the buyer's financing will be a USDA rural development loan. I have only heard negative things about these loans, not to mention the offer has a 90 day closing period. The offer is for 3k over list, but asking for 3k in closing cost. Our realtor told us anything that comes back in the inspection is required to be fixed with this type of loan. The house was built in 2009, so we aren't worried about anything major. We are more concerned about silly stuff like hand rails and paint and Other little stuff that most buyers don't worry about. We have also been told every inspection/ test there is will have to be done, and we are worried about the appraisal coming in below offer. We have had two more showings since and have confirmed they were not interested. We are considering turning the offer down due to the type of financing, but wanted to get others opinions who have been there. [link] [comments]  |
| Posted: 27 Apr 2019 09:39 AM PDT Does anyone have any experience with a pre fabricated house made of steel? I was thinking about buying a piece of land and getting a steel home built. I've read lots of great benefits and they are cheaper to build. Does anyone have any personal experience with this? [link] [comments]  |
| Posted: 27 Apr 2019 03:05 PM PDT A friend and I are going to flip houses. I am fronting all the capital and she is the agent and will do all the coordinating of sub-contractors and design work. How should we split the profits? [link] [comments]  |
| Posted: 27 Apr 2019 01:50 PM PDT I made a lowball offer on a house, agreeing to buy it "as is." It was rejected but the seller and I met in the middle price-wise, and I took "as is" off the table. They asked for me to put it back in, but I couldn't for the price, and they signed my offer anyway. I did an inspection and asked for the one minor structural repair, some live wires to be capped, and a bathtub to be returned to working condition (no hot water knob). Seller refused all repairs stating the property was "as is." Is this...normal? We negotiated a higher price based on the removal of the as is addendum, only to have it be sold as is anyway? By that logic, isn't every sale technically as is if the seller can just say it after the fact? The sale is dead but I'm at a loss as to why the seller signed my offer to begin with. What should I be asking about in the future to make sure I'm not throwing money into inspections that are pointless? Thanks all. ETA: The house was an unremarkable 35 year old townhouse with no updates and belonged to a heavy smoker (walls had nicotine stains). So the "as is" concession/price was originally done with that in mind. [link] [comments]  |
| Should I contact an owner of a property? Posted: 27 Apr 2019 08:28 PM PDT There's a property I'm interested in. I've contacted the listing agent and I'm touring it on Monday. Through public real estate records, I've discovered that the person who owns the property works for a client of the business I work for and works in the same office building as me. My boss says I should contact her and ask her about the property, neighborhood, etc. But I'm not sure if that will positively or negatively influence any offer acceptance if it gets to that point. I've never worked with or even met her, but she knows my co-workers and I think the relationship is good. Any advice? [link] [comments]  |
| As a seller doing a leaseback, how do I protect myself? Posted: 27 Apr 2019 10:12 AM PDT I see lots of recommendations against buyers accepting a leaseback. As a seller I have little choice in the matter. I need to close before my home is ready to move in. The current buyers have in the contract a $3500 security deposit as well as written $6000 liability for any repairs found after 5 days after keys are handed over. While there are wear and tear items in this house, as there might be after 5 years, I don't want to have to, for example replace the whole carpet for minor discoloration, or replace a whole countertop for some dings, or be responsible for anything that was present when they bought the house. As well, I don't want to just hand them a decorating fund. What can I do to ensure that these funds are used as intended, i.e. not for cosmetic purposes, or that they can't just damage something so they can get something brand new, etc? Or is this just a terrible contract and if we take it, I can accept the extra $9500 to be gone? [link] [comments]  |
| Posted: 27 Apr 2019 07:33 PM PDT Me and my wife started search for a home at the beginning of April and found a nice model home for sale. It was great for us because it came with most of the furniture and decorations. We worked with the seller on negotiating the price of the house and they only came off of the price $1000 on the $274,900 asking price. Since it was a new home, we figured this was typical and since we were getting to keep roughly $6000 in furniture and $2000 in blinds, we were okay with it. The house only had minor cosmetic issues like settling crack in the crown molding and a few other things that we saw on the surface. The builder said they would fix these things, but wouldn't put it in writing. They said since the house is "as is" they wouldn't put anything in writing as far as fixing things. I took this to mean that anything cosmetic. I had a home inspector come in and look at the house. He discovered that none of the outside lights worked, a gfci next to a hose bib outside doesn't work, a rafter is cracked in the attic, and the roof has exposed nails in the flashing valley. There were several small cosmetic things that he found too, but I wasn't really worried about them and they were things I could fix myself pretty easily. I submitted an addendum to have the repairs done and the agent said they would absolutely not sign any addendum and we are buying the house as is. I don't think this is correct and the selling party has also made several "promises" to fix some of the cosmetic issues and other things, but they have no real obligation to do so since it isn't in writing. I don't know what recourse I have other than walking away and losing my earnest money that I have put down. Their business practices make me feel like there is something wrong with the house that they are not telling me. What can I do in this situation? [link] [comments]  |
| What are some important things to know for someone considering purchasing a HUD home? Posted: 27 Apr 2019 01:22 PM PDT How is the process different than purchasing a normal home? Thank you in advance to anyone who answers! [link] [comments]  |
| Posted: 27 Apr 2019 06:36 PM PDT I'm buying a house with my fiance. He's going to be on the loan alone (I can't be added on right now), and both of us will be on the deed. Could I get on the deed the same day as him in closing in NJ? I don't want to be added to a deed later. I want to only buy a house if I'm guaranteed to be on the deed upon closing. (I'm giving him a very large amount of money to put down.) Is this possible to go on the deed the same time he's on the deed? [link] [comments]  |
| Builder/seller half assing because of poor wording? Posted: 27 Apr 2019 05:59 AM PDT First time home buyer, brand new house, love house but hate driveway (it's about 30 degree angle). There's flat land over and up from the current driveway. We at least need 1 car width paved on flat area for disabled family (so he can get to accessible backdoor). This was thoroughly discussed with agent who I assumed communicated our needs to seller. The seller said it's ~2500$ to fix it. So we made offers and got the driveway addition included. My agent was vague in the description in the contract "extend driveway to accommodate more cars"... (We even sent another email that we KNOW was forwarded to him that said what we expected from the driveway). We are ready to close, waiting on driveway, but he just started (developer/seller is doing it). We saw that he dug out the land to start graveling and pouring, and it's the same steep land, just a few feet added to the right of current. We sent an email saying "hey, just wondering if you still plan on extending it upwards as well?" Seller: "I don't see how you could read this contract as anything other than extending the driveway sideways!!" Me, to agent: "what the hell, we made our needs clear to you and him, I signed this contract and he can fulfill this however he wants?!" Agent talks to seller, seller back to us: "I'll do what you want extending it up on the flat, but it'll be additional cost". So I'm pissed. Being off the steep grade was part of our contract, but I guess not really since the agent wrote it up too vague and I signed it like a moron! Are we stuck with a horrible driveway??? Will a wider parking area make for safer parking, maybe at an angle? If this guy says ~5' x ~15' costs 2500$ to pave, are we are better off hiring someone else to do it later, since that's 2-3x the average cost for our area? Or is this something we need to push that we all agreed to and is in our contract? Thanks for any help guys! [link] [comments]  |
| Posted: 27 Apr 2019 12:16 PM PDT If a detached garage has a livable space above it, then it's considered a separate building for flood insurance purposes. Though the law was changed a few years ago to say that you aren't required to have flood insurance on it, banks - if they so choose - are still allowed to require it and mine is. I'm in the ridiculously absurd situation that the flood insurance for my detached garage, because of the elevation and the fact that nobody is living there, far exceeds the flood insurance for the rest of the house! Were it up to me, I'd be perfectly content to carry no flood insurance on it and simply assume the risk of a flood. (Who cares if it floods? It's a garage. It's the main house that I care about.) So what I'm wondering is if I can remedy the problem by attaching the detached garage and how "attached" it would have to be to make it covered. If we put a covered walkway between the two (something I would like to do anyway), would that make it "attached"? Or do we need to actually extend the house such that it is a legitimate extension? The flood insurance for the house itself is about 1% of the estimated value of the house (which makes sense - I'm in a 100-year flood zone). But the flood insurance for the garage is 1/20 of the cost of the garage. So if I can get rid of that expense and have a nice add-on with additional living space, that's a no-brainer to me. [link] [comments]  |
| traditional financing escrow for repairs? Posted: 27 Apr 2019 05:46 PM PDT Is this a thing? Selling a place in WA (I am in TN now) and it needs a kitchen and maybe a few other things. I don't really want to mess with trying to get it done from here (oh, side note- selling to the tenant). I don't know if it will pass muster for appraisal without the new kitchen. [link] [comments]  |
| Posted: 27 Apr 2019 12:50 PM PDT |
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