I think I called the listing agent's bluff Real Estate |
- I think I called the listing agent's bluff
- Strange Zillow post
- Selling one of my houses. Am I dumb for adding granite to the kitchen before selling? (pics included)
- Renting Mobile Tiny Homes On Your Land
- I don't understand how listing prices can be so much more than the market value (Woodlands, TX)
- Question on Appraisal for Home that I am Purchasing
- UPDATE: First time home buyers - sellers are still living in the house and won't move things in full garage for inspection
- Do banks recognize the newest appraisal value suggested by the county?
- Easement/Property access dispute.
- What is the process of getting a TVR permit in Hawaii
- Property Taxes Increased $2600 two weeks after closing.
- Seller wants to force a closing to happen, after I canceled the contract
- Renting house in college; roommate question
- How concerned to be about remodel done without permits?
- Am I insane? Considering cash, as-is sale to flipper
- Would you buy in these circumstances? Nashville Real Estate is frustrating.
- Sell house or make rental property? An analysis of the numbers
- Split Tax - Unimproved Tax or Lot Tax - Houston, TX
- IS THIS LEGAL?
- Closing nightmare
- Closing Cost Question
- any experience with virtual staging?
- Q: How to determine which city to look in.
| I think I called the listing agent's bluff Posted: 29 May 2019 09:10 AM PDT TL;DR version: Trust yourself and your calculations and don't let emotions or bidding-wars trap you into making a bad decision. So we've been looking to move within town for a bigger yard. We mostly like our current place so there isn't too much of a rush to move. There was a place that came on the market that was clearly a flip. The listing price was pretty overpriced based on the comps and quality of the renovation. But we liked the yard so we kept it on the list. A few weeks go by. We look at it 3-4 times in that period and the listing agent called our agent and encouraged us to place an offer and said they were flexible. We look at it one more time after that. We thought seriously about putting in an offer that we think is fair for this place. Then, a few days after that, our agent gets a call saying there's a strong offer close to listing on this place. A few hours later, there are 2 offers. I was actually out of town so my wife and I talked at the airport and we were tempted to go higher than we had initially wanted so that we'd be competitive. But that being said, I really didn't feel like it was worth that much and we also didn't want to feel like we let it go without trying so we put in an offer $150k below listing which is what we originally wanted to do. Our agent gets a call 2 minutes after she put the offer in asking if it was a typo. She explains the reasons why we thought it was a fair offer based on the comps and work needed. We figured they would take one of the other offers but at least we did something about it. We're bummed out because we had lost out on a full price offer earlier this year and we really had this place in mind for the right price. But a week later, it's still on the MLS. Another week later, it's still listed as "for sale." Our agent calls the listing agent and they said they just haven't changed the listing yet but it's been a full 2 weeks. So at this point, I'm pretty sure that they were bluffing us for a full offer and we called them out on their bluff. I'm not going to know for sure but the fact that they: 1) still haven't taken it off the market 2) encouraged us to put an offer 3) called about other offers the day after we looked at it 4) called to confirm our offer price (if there were 2 other strong offers, why would you care if there's a weak offer coming in). I'm pretty stoked that we didn't fall for it and that we stuck to our plan without letting emotions cloud our decision. Even if this place stays on the market and the price did fall within what we think is reasonable, I'm wary of the agent and the shenanigans they've pulled so far. [link] [comments]  |
| Posted: 29 May 2019 05:41 PM PDT |
| Posted: 29 May 2019 07:38 PM PDT I'm about to list one of my rentals because A) it is underperforming and B) has increased in value by ~70K in 3 years. I have already fixed all broken stuff, got all rooms painted agreeable gray, etc. I have granite guys coming to add granite + stainless sink + faucet on Friday. Total cost for all of this will be $1900. This house is in an A neighborhood. Am I dumb for spending $1900 on this kitchen before selling See pics of my house and kitchen. I'll using the moonlight granite. [link] [comments]  |
| Renting Mobile Tiny Homes On Your Land Posted: 29 May 2019 08:52 PM PDT Does anyone have experience purchasing a Tiny Home then parking it on your property and then renting it? In my area it is a gray zone, so this can be done. However most people who I do see with Tiny Homes are the Tiny Home owners. So I'm wondering if these are popular to buy but not to rent out. Am I unlikely to be able to rent these out over apartments? FYI I'm in the Bay Area, which has a housing shortage. [link] [comments]  |
| I don't understand how listing prices can be so much more than the market value (Woodlands, TX) Posted: 29 May 2019 09:36 PM PDT Here's an example: https://www.har.com/85-crystal-lake-lane/sale_89956030 The house is selling for ~$300k, but nearby houses have a market value of 178k, 185k, 229k, 203k, etc. I get that selling prices could be slightly more, but to what extent does this become unreasonable? (first time homebuyer, I'm new to all this) [link] [comments]  |
| Question on Appraisal for Home that I am Purchasing Posted: 29 May 2019 08:22 PM PDT Hi, first time home buyer here with a quick question. My appraisal came back just above the purchase price so that's great news. I was going through the report and I noticed that on the page where the appraiser checks off all of the amenities, they did not check the box for fireplace even though the place has a built-in gas fireplace. Is this something I should bring up with my agent or lender, or does it not matter since the place appraised high enough for me to get the loan? Can anything negative come out of my appraisal saying I do not have a fireplace when I actually do? [link] [comments]  |
| Posted: 29 May 2019 11:33 AM PDT So it turns out that at least for now, things are okay. Evidently the seller's agent really misrepresented the situation to our agent, and as it stands now we'll be moving in a week after closing per our generous week to move agreement. The sellers are already under contract for their new home and have committed verbally and through email (according to our agent) that they'll definitely be out within the 7 days, probably closer to 2 or 3. We're still adding in a final walkthrough clause, but the rentback situation is mitigated and I'm about 3 million percent less stressed. The garage thing did end up being somewhat of an issue in that while the inspector could get to the water heater/washer/dryer/breaker box, he wasn't able to open either of the garage doors, so we're having that addressed moving forward. Aside from a small roof issue (why DIY if it's going to be awful??) the inspection came back almost sparkling after 4 hours, so I feel a lot better about that. Thank you all so much for your help and arming me with the information I needed when I sat down with our agent. He was able to call the sellers agent immediately and get everything worked out within 20 minutes. Evidently the sellers felt bad about their agent's miscommunication as they left us a very nice note prior to our inspection. Now all we have to stress about is the appraisal, title transfer, and official closing (and maintenance and taxes and and and). Thanks again to everyone, I really appreciate it! [link] [comments]  |
| Do banks recognize the newest appraisal value suggested by the county? Posted: 29 May 2019 10:47 PM PDT I just received a letter from the county appraisal district (Texas), saying that they're proposing to raise appraised value of our land there from $26k to $38k. This means much higher taxes (around $1.2/year). Here is my question: does this mean that the banks will recognize this property at the new appraised value ($38k)? Or will the banks still see it worth $26k? How does this generally work? We have a few days to dispute and I'm trying to figure out if we should. Any info is highly appreciated, would love to hear your thoughts. [link] [comments]  |
| Easement/Property access dispute. Posted: 30 May 2019 02:33 AM PDT My first post here, I hope I can make the situation clear. Thanks in advance. My partner, has a home in San Francisco's east bay. The rear of her home, where she drives her car to park in her garage on the rear part of her property, is on a small street, ending in a dead end, where some construction is now taking place. I checked, and in his development plan approvals it states that he has an "easement", but no where can I find proof that he outright owns this small alley way in a relatively large developing city. I was also told that my partner may have an easement to the alley as well. I didn't know that public streets in major cities could be private. Question: Does the developer's easement on that street give him, and his workers, a right to block my partner's access to her garage? Any proper terminology, working, or explanations appropriated. I am going to the city planning commission office, but I want to be more familiar with the subject first. Thanks!. [link] [comments]  |
| What is the process of getting a TVR permit in Hawaii Posted: 30 May 2019 02:22 AM PDT Hey guys, does anyone know what is the process of getting a transient vacation rental permit in Hawaii (Honolulu County)? Or if it's even allowed in Hawaii? [link] [comments]  |
| Property Taxes Increased $2600 two weeks after closing. Posted: 29 May 2019 09:12 AM PDT Hi everybody! My husband and I just purchased a new home in New Hampshire (Cheshire County, to be exact) and when we signed the papers our taxes were at $4184 per year. We just received today a bill from the tax assessor saying the taxes have gone up $2611.84 since December. They are saying $88,000 in value was added by putting a room above the garage by the previous owner. According to the paperwork they submitted to our mortgage company, they think the house was previously valued at $140,900 (x29.68 per $1,000 in value) and now they are estimating the current value at $229,000 (x29.68 per $1,000 in value). Is there anything I can do to lower this number? My husband and I had no idea that the house was under appraised by the town and this figure adds over $200 per month to our mortgage payment. Can I request a re-appraisal? Give reasons as to why I believe the house is unfairly appraised (example: backyard is literally an airport, house across the street is dilapidated with missing windows and trash in the yard, etc.?) This figure just seems wildly inaccurate to me and I'm not sure what to do about it. Thanks for any advice you can give me on this matter!! [link] [comments]  |
| Seller wants to force a closing to happen, after I canceled the contract Posted: 29 May 2019 04:32 PM PDT I put in an offer to buy a house that had several problems that needed maintenance. The owner is a sweet lady with lots of experience with real estate, agreed to all the fixes. She was supposed to be done, we went with an inspector and it turns out, many things aren't finished. I don't want to wait for her to try again, and want to move on to another property. The contract says that I can cancel it if the maintenance wasn't complete. My lawyer terminated the contract, but now the seller sent me a letter saying that closing is still happening a week from now and will not return my deposit money. How is that even legal? I'm confused as to what I should do next. My lawyer is only representing me on the real estate sale but not any other work. TLDR - Seller is trying to force me to close on a property after she didn't keep her end of the bargain. [link] [comments]  |
| Renting house in college; roommate question Posted: 29 May 2019 10:14 PM PDT So, I am going to be renting a house with 2 friends. I am paying my own rent but, their rent is going to be paid by their respective parents. When applying for houses, it asks combined monthly income, what would I put for that? Also, if you have any other advice for renting as a college student/college graduate that would be much appreciated [link] [comments]  |
| How concerned to be about remodel done without permits? Posted: 29 May 2019 02:17 PM PDT Reading over disclosures and it says none of the remodeling/updates (which are extensive) on a house were done with permits. What are the potential ramifications of this if I were to purchase the house? [link] [comments]  |
| Am I insane? Considering cash, as-is sale to flipper Posted: 29 May 2019 08:25 AM PDT This is my first post, so my apologies up front for any etiquette or grammar errors and the length of my post. I'm 64F, retired, no family, and I don't really have an advisor to consult with on this matter. I own a house in the East Bay, California. I've lived here for 25 years; the house was built in 1964. It's 1227 square feet on a large lot. My mortgage payoff amount is $155k. I've talked to agents (no contract signed), and they believe the market listing could be about $560-$580k. I'm not so sure a buyer would offer so much. The house isn't in SF or the Silicon Valley. It's in the East Bay; Zillow characterizes the current market in my city as "cool". I've also looked at homes sold recently, and I don't think my house is comparable to those homes sold for $550+. The house is gorgeous (I have a flair for decorating, but not maintenance). However, I've had recent inspections and the house has active crawl space termites, as well as exterior dry rot, plumbing, electrical, drainage, asbestos, and other issues. God knows what other investigators might find. It also has a history; 2004 mold in the bathrooms (remediated), 2011 exterior and interior wall replacement in the living room, where asbestos was found in wall insulation, and in mastic in old tiles (all remediated). I estimate $20k to make needed repairs before listing. I had 2 flippers out yesterday and their cash offers are $440k-$450k. I disclosed all issues to them, and they didn't seem put off. Am I insane to consider a cash, as-is offer for my house? As I understand it, a cash sale would mean I can avoid the expense of repairs, as well as commissions and other fees (by my estimate about $50k). It would also mean I can avoid the anxiety and stress and time and unknowns associated with a traditional market sale. I'm aware I could potentially lose some profit, but I'm ready to move on. Is there anything I haven't considered? Are such sales legitimate? Am I possibly being scammed? Any other advice? Thanks very much in advance. [link] [comments]  |
| Would you buy in these circumstances? Nashville Real Estate is frustrating. Posted: 29 May 2019 08:16 PM PDT This is going to require some backstory, so bear with me. Scroll down for the tl;dr if you don't have or want to spend the time. I am 32 years old and, for the last 4 years, have been living rent free (I insisted on covering 100% of the utilities though) with my grandmother as her caretaker as she has a myriad of health issues that make it impossible for her to live on her own. Earlier this year, her health took a severe downturn, and she is now living with my parents (medical professionals) full-time while still being able to visit her house for short spurts (a few hours every other day or so) while I'm at the house and able to care for her. She cannot be at the house by herself. Also, the house is 100% paid for (no mortgage) by my parents. Seems like a sweet deal, right? The space I am inhabiting is her basement which is underground, has no heating (aka really cold living in winter), no kitchen, and the bathroom... Well, let's just say that I'm 5'11" and cannot stand up straight while taking a shower because the ceiling is so low. Additionally, while I do have a private entrance, it's a pair of sliding doors that serves as my only source of natural light, and even then it's underneath a porch, so there isn't a lot of light to begin with. Needless to say, this environment doesn't help much with my chronic depression. Wahoo. Enter the silver lining. My sister has recently moved back to Nashville, and there's a chance she might be able to take my place, thereby releasing me from grandmother duty. I know that sounds harsh, but I've been doing this for 4 years now. I can't have friends over because my space is not really welcoming (it consists of a bed, a couch, and a dresser; that's it), and if they do come over and we use the main house, I must then go over everything after they leave to ensure nothing has been moved even an inch as my grandmother is blind and relies on familiarity of her surroundings to get around. I recently got a promotion at work which brought my salary up to $63k. I know it's not a lot, but it puts me in the market to purchase a small condo or townhouse within a reasonable commuting distance from Downtown Nashville where I work. Also, because of my living situation, I've been able to pay off all of my debt except for my car which will be paid off in 6 months. I'm now sitting at a 775 credit score, and I'm super proud of it because I've worked HARD for it. It seems like everything is falling in place for me to purchase, especially since it's cheaper to buy a house in Nashville than it is to rent. Y'all, inflation is real. Except... Yes, there's an "except." Isn't there always? I have a long distance boyfriend who lives in Chattanooga. We're going to get married (we've known each other since we were children), but not for a few more years. He's in school for engineering, and he has two little girls who live in Chattanooga with his ex-wife. Their divorce was really messy (she cheated with multiple partners, and he went batshit and abandoned them for 3 years, which he regrets every day and has been attempting to repair the relationship with his kids ever since returning several years ago) and resulted in a foreclosure and about $20k of back dated child support. 7 years after his foreclosure will be 2023. I can't live in this basement for another 3-4 years. I just... I can't do it. I know I agreed to, but now that my sister's back in town, that changes things. And she's in a financial place where living rent free would be a real blessing for her. My boyfriend wants to live in Chattanooga eventually, but I'm not willing to leave Nashville just yet because I make more money than him at the moment (which will likely change due to his career path once he has his degree), and I also really love my job and would most likely have to take a pay cut to move to Chattanooga because of the cost of living difference. Don't worry; he is aware of all of this, and he is open to considering Nashville in the future. So here's the question: Am I financially stupid for purchasing a house in Nashville when I might be moving in 3-4 years? Nashville is growing immensely, so there's a possibility that the home I buy will appreciate in value, especially if I choose the right house. There's also a chance, though, that the housing bubble will burst, and I'll be shit out of luck and have to sell for less than I bought it for. Thoughts? Am I an idiot for entertaining purchasing a house? Is this actually a good idea? Or should I just wither away in my grandmother's basement until my boyfriend and I are married and can shoulder the payment on a house together? TL;DR: I live rent free with my grandmother as her caretaker in her partially finished basement. Am I stupid to purchase a home in Nashville because my sister might take my place at my grandmother's, even though I might be moving out of the state in 3-4 years when my boyfriend and I get married? Thoughts? Am I an idiot for entertaining purchasing a house? Or is this actually a good idea? [link] [comments]  |
| Sell house or make rental property? An analysis of the numbers Posted: 29 May 2019 07:29 PM PDT I would HUGELY appreciate someone who understands rental properties as an investment strategy looking over my analysis and letting me know what they would do in my shoes. I bought a townhouse in in Houston, TX. I was using it as my primary residence, but I recently moved back to California, and I'm debating on what to do with it now. Rent it out or sell it? Here are the numbers I came up with for both scenarios. Can you weigh in with your impression (which scenario is more appealing financially) as I know nothing about rental properties. It's a 3 bedroom town home in the Greater Heights area (close to downtown). If I Sell:Probable Sale Price: $280-290k Mortgage Principal Remaining: $220k If I Rent:
Annual Deficit: -$5,530/year So if I rent it out, I'd need to have at least 1.9% annual appreciation just to break even (this number would decrease as the value appreciated). I'm somewhat bullish on the HTX real estate market, and it's in a good area. Also, rental properties are notoriously low right now, but I'm not sure if/when those will recover. What are your thoughts? Is an operating deficit an immediate "no" for rental properties? If the alleged vacancy numbers (provided by the property management company) are lower, then it changes the equation big time (not sure how to price that risk into the equation). Any help or feedback appreciated! [link] [comments]  |
| Split Tax - Unimproved Tax or Lot Tax - Houston, TX Posted: 29 May 2019 07:08 PM PDT Hey guys, I'm looking into purchasing a home in the next month or so, located in Houston, TX. I have a house under contract with Meritage Homes at $287k. I'm going through all the financing currently through their lender (MTH) because they are offering to credit roughly $9,600 in sellers/processing, underwriting and funding fees. I've been discussing with the lender how the initial escrow account is going to be set up and am having a difficult time determining how to proceed. This is the e-mail the lender sent me,
Has anyone dealt with this before and if so, do you have advice on what I should do? [link] [comments]  |
| Posted: 29 May 2019 07:00 PM PDT My brokerage encourages us to post listings that are not ours in social media, Craigslist etc. This is all through an IDX program. For example, I click on a listing on my IDX and then I click "publish to Craigslist". Is this normal, legal, ethical? I don't think I'm harming anyone because I'm advertising other agents listings for free and anyway they are guaranteed a commission as the listing agent. I'm just search for potential buyer leads. Isn't the point of real estate to get the listing sold at the highest price in the least time? And aren't I helping the other agent do this? I have researched this and it seems IDX are completely legal, and when I post a squeeze page to fb that has several properties it's ok. But I'm wondering if this is okay when I only post one specific listing? I'm hoping to get the opinions of other Realtors and Brokers here. [link] [comments]  |
| Posted: 29 May 2019 06:00 PM PDT So we were supposed to close on our house tomorrow. Our loan officer calls us today and states that when a soft pull was performed on our credit a new line of credit showed up. Apparently my student loans were not accounted for up until today. Now I will admit I had been in the process of consolidating them since January, however the balances and the estimated payments were on our loan application. So now, they are attempting to change our loan type. What should I do here? And why do I have to pay the price for this slipping through the cracks? [link] [comments]  |
| Posted: 29 May 2019 05:52 PM PDT Hi. We are in the process of selling our house and buying a new one, and I just noticed a piece of paperwork with the realtor/brokerage fee on selling our house. When I do the math it seems we are giving away 8% to the realtor/broker .... is this usual? It just seemed like a lot of money compared to the service, but I am sure there is a lot going on behind the scenes that we don't see ... We are using a different realtor for the home we are selling vs. the one we are buying, so the above just pertains to the realtor for the home we are selling. Anyway just wondering. We are in the Dallas, TX area. Thanks. [link] [comments]  |
| any experience with virtual staging? Posted: 29 May 2019 10:20 AM PDT i've had this vacant listing on the market for a while now and have been dreading paying for staging. from what i've heard, renting furniture can cost hundreds if not thousands. recently a colleague told me about this company that does virtual staging for $45 per photo. not sure how i feel about it as I wouldn't want some fake looking photos representing my listing. their website is https://pictureitstaging.com. their portfolio looks pretty legit, having worked on a few listings in NYC, according to their website. have any of you guys used them/have you used virtual staging at all? was the experience good/bad? thanks! -Case [link] [comments]  |
| Q: How to determine which city to look in. Posted: 29 May 2019 05:52 PM PDT Howdy folks! First-time rental property investor. I live in Seattle and trying to find a rental property here is super expensive so considering other cities where it'll be cheaper. Any seasoned rental property investors here that can give tips on how to determine which cities to look at? Things I've been considering: - Rent to Price Ratio - Crime Rate - Median Household Income Any suggestions would be greatly appreciated. [link] [comments]  |
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