is your local market housing dropping fast? Real Estate |
- is your local market housing dropping fast?
- Buyers went MIA at closing
- What to look for in a real estate management agency?
- When should I drop the price on my home for sale?
- [silicon valley, California] In the current market, what contingencies are typically waived?
- So frustrated at putting in over asking offers and having sellers not respond before offer deadlines
- First time selling, not getting much open house traffic
- Buying a rental far under actual value
- Bid higher or stick to offer (home purchase)?
- Just bought a house and found out previous owners didn't make proper repairs as agreed to. What recourse do I have?
- Is it normal to have to pay an application fee before viewing a rental apartment?
- Lennar vs meirtage to
- Would I miss out on any particular tax credits or general incentives by buying an investment property as a first time home buyer?
- New build homes have increased prices in just 2 months since i visited. Liklihood to get it lowered?
- How long would you wait before lowering the asking price? (On average)
- Source to create tenant lease agreements?
- I'm applying for a lease, and I just ran into a HUGE issue if anyone has any advice...
- Buying a house before it goes on the market
- Suitable Housing Contingency
- Is there a method where I can bulk collect property tax data and appraised values based on similar properties?
- Loving everything Real Estate. Are there any niche forums for real estate?
- My mom is retired, selling her house and going to rent - will she have problems?
- 25yo, looking to start investment/rental property
- First time homebuyer feeling overwhelmed!
- FHA Title 1 Loan
| is your local market housing dropping fast? Posted: 03 Aug 2019 09:03 PM PDT The housing prices are pulling back hard in my area. Is your area dropping as well? [link] [comments]  |
| Posted: 03 Aug 2019 07:57 AM PDT Edited to add that my agent did request proof of funds during the initial acceptance stage. They provided a bank statement which showed nearly 4x the amount needed. Apparently it wasn't their bank statement though (what I saw was heavily redacted). And thank you to everyone for all of the responses :) So I accepted an all-cash offer at my agent's advice as I wanted a quick, easy closing. (There were 15 other offers and one signed a back-up contract.) Day of closing we were scheduled to sign at 9:00am. At 8:30am my agent told me the buyers weren't going to make it until 2:00pm as the husband was a truck driver and had been delayed, but I was to go ahead and sign my paperwork, etc. 2:00pm they don't show up. They text their agent the wife is in the ER. Late that night they tell their agent she had been under stress and released from the hospital. Agent schedules them for 1:00pm the next day to finish the closing. Again they don't show. Agent finally gets in contact with them, and they don't have the money. (Finally, we got to the truth!). They apparently have a 'benefactor' who had not released the funds to them. [link] [comments]  |
| What to look for in a real estate management agency? Posted: 04 Aug 2019 04:03 AM PDT I plan investing in foreign real estate and I want someone to make sure everything is ok, find a new tenant if the current tenant leaves etc.. From your experience, what are the things one should pay attention to? Also potential red flags etc.. [link] [comments]  |
| When should I drop the price on my home for sale? Posted: 04 Aug 2019 01:31 AM PDT I put my home up in Dallas just over a week ago at $240k. This was the price my realtor suggested. It's just over 1400 square feet, and is fully updated inside. I'm wondering how long I should wait before dropping the price. I'll hoping to sell it as quickly as possible, because we are under contingent contract to buy a different house closer to our family, but of course I want to make at much off of it as possible as well. The sellers of the house we are purchasing have given us 60 days to close, and I'm not sure if that's a TON of time for us to sell our house, or not enough, considering the weird market right now. A lot of major stock indexes have dipped big TWICE since we listed it, so I'm wondering if buyers are getting more skittish. Here's the listing: https://www.zillow.com/homedetails/2829-Robin-Hill-Ln-Garland-TX-75044/27002677_zpid/?view=public [link] [comments]  |
| [silicon valley, California] In the current market, what contingencies are typically waived? Posted: 03 Aug 2019 07:27 PM PDT I'm a first time home buyer and been reading to learn & prepare. Seems like even though the market isn't as hot as before, it's still pretty competitive. Which of these contingencies are typically waived?
I heard that the earnest money deposit is usually 3%, which would be substantial for a $1M+ house. Wouldn't it be risky to pretty much waive all of these? Thank you [link] [comments]  |
| So frustrated at putting in over asking offers and having sellers not respond before offer deadlines Posted: 03 Aug 2019 06:13 AM PDT Update- listing agent contacted our agent and said they're deciding between our offer and an older couple's. They said they prefer us because we are young and starting out, and they liked our letter. They haven't made a decision but they asked us if we would double our earnest money (10k) and we said yes. Not sure if this will do it, but hopefully it helps. Like most places, right now I'm looking to buy my first home in a hot market. I've been looking for 6 months, looked at a bunch of homes and put in probably 6-7 offers at this point. We've given asking or a little above and nothing. Just put an offer on a perfect house that we caught on it's first day on. We offered our max that we can afford right off the bat which is 5k above their asking. We are also willing to do an escrow repair for the septic when they told us they needed a buyer that's willing to work with them. Since it's a hot market and they get multiple showings and offers, my agent suggested putting in a deadline for the offer. It was yesterday at 6pm and didn't hear a peep besides the listing agent asking us to change one of the addendums to word it better. We did that, and sent it back signed. I get it. They're trying to get the most they can for their home, and I would probably do the same the other way around. But I'm so tired of putting in a good offer (good down payment, conventional, good earnest) and just being shrugged at and left on the back burner. I'm slowly losing my mind and my SO is getting close to giving up on this area. [link] [comments]  |
| First time selling, not getting much open house traffic Posted: 03 Aug 2019 06:05 PM PDT Hi all, I'm selling my condo in south Orange County CA and I've had a very rough time getting any traffic. So far I've had the unit listed for the past 2 weeks. In that time I had my first open house last weekend which between Saturday and Sunday generated 15 groups of traffic. So far this weekend, I've had 2 groups today, of which one wasn't really even an in-the-market browser. Is there anything more I can do to increase traffic? My particular area is becoming challenging as we've got 8 other units in the same community also on the market. In that time I had 2 showings the first week, none the second week. I cut my list price by $10,000, putting it the 3rd lowest in the community. I've followed some tips that I could find like posting to craigslist and the like, and because I feel like I may have overestimated the market I dropped my list price to be the now #3rd lowest out of comps in my complex but I'm out of ideas what I could do to get more potential buyers in the door. [link] [comments]  |
| Buying a rental far under actual value Posted: 03 Aug 2019 07:17 PM PDT |
| Bid higher or stick to offer (home purchase)? Posted: 03 Aug 2019 09:02 PM PDT Hi PF - Will try to be brief without skipping too many details...can provide more if needed. Made offer on house that we really liked ("loft" style, needs some work but in very lucrative area in SE US) that was slightly under asking price (~8% lower). In very sought after area with lots of development underway, but place is older and will likely need repairs (A/C >18 yrs) soon so we wanted some budget room. Looked like our offer would be accepted until 2 days ago when someone offered full asking. We stuck to our guns and were prepared to let it go as we had already negotiated higher than desired...but still having hard time walking away. Admittedly...short term economic outlook causes uneasiness, though we understand that shouldn't dictate the decision, but also partly why we stuck to our offer. Higher price is still well within budget, but trying to be firm. For reference, even at asking, the price / sq ft is half of the avg for area (though those are for stand alone, vs this which is more condo style). Seems like the area will offer lots of opportunity long-term and we'd be here for a while. Question from those of you more experienced...should we suck it up and try to match? Is it already too late to do so if they've accepted other offer (legally speaking)? Worth getting into bidding war at this point? All inputs welcome (advice, criticism, general comments, etc). [link] [comments]  |
| Posted: 03 Aug 2019 08:32 PM PDT I closed on a house in late June, and during the inspection in late April a leak was found under the kitchen sink with wood rot in the wood in the crawl space due to the leak. The owners agreed to get the leak fixed and all rotted wood replaced. Well, the company that did the repairs did not locate the leak and only put a patch on the wood. I just had a contractor in the crawl space who said they found the active leak and one of the main external support beams to the house is completely rotted out. Now i have to get the wood replaced, mold remediated, and the leak fixed (which is hard because its behind all of the new kitchen cabinets). This is going to cost at least $5k. What can I do? [link] [comments]  |
| Is it normal to have to pay an application fee before viewing a rental apartment? Posted: 03 Aug 2019 12:13 PM PDT Hello all, I wasn't sure if this is the right sub but I was hoping you guys might be able to help me out! I'm in the process of looking for my first apartment and I found one in a nearby complex that seems great and is at the right price point. I called the company that owns it (I won't say names but they are pretty big) and was told that I had to fill out an application before viewing the unit I was interested in. I started filling out the application and got to the last step only to find that there is a non-refundable $400 application fee! I called the office back and said that I would really like to see the apartment before paying and potentially losing $400. She said she might be able to get me in to see a nearby complex, but the complex I would be applying for doesn't have any model units so I wouldn't actually be able to see inside the apartment before renting it. So basically I would have to fill out the application to reserve the apartment, but I won't see the actual apartment until I move in. Is this normal? I'm honestly new to all of this but it seemed odd to me. Tl;dr: Is it normal to have to pay a nonrefundable application fee before viewing an apartment? UPDATE: I checked on the Better Business Bureau website and there were similar complaints about this company. Crazy stuff! I'm going to look elsewhere; thank you all for the responses! [link] [comments]  |
| Posted: 03 Aug 2019 07:43 PM PDT Need help choosing btw Lennar and meirtage. We like very similar looking homes from Lennar and meirtage and in same location. So like to know if anyone here knows their build quality [link] [comments]  |
| Posted: 03 Aug 2019 06:35 PM PDT First time buying a property and thinking of buying a house to rent out after educating myself. Would I miss out on any particular tax credits/incentives if my first property isn't "owner occupied"? [link] [comments]  |
| New build homes have increased prices in just 2 months since i visited. Liklihood to get it lowered? Posted: 03 Aug 2019 04:14 PM PDT Visited 2 months ago, since then theyve raised it about 4k each month..the home is not very expensive (215k) so the increase is a large %. Home doesnt have any upgrade options. I read how New builds likely wont want to negotiate price since it affects values but what about in cases where the prices have varied in just a few weeks? edit: Houses are not built yet. Not even all plots are sold. Prices were raised within a couple of months. [link] [comments]  |
| How long would you wait before lowering the asking price? (On average) Posted: 03 Aug 2019 05:40 PM PDT My mother is in the process of selling a house and is a little too eager imo and thus she mentioned lowering the asking price. The problem with that? It's been on the market a full 6 days. So I wanted to you ask you fine people what is a reasonable average amount of time you would wait before lowering the price (heck even taking into account really needing it to sell fast) 6 days just seems way too fast. People have barely had a chance to know it's out there. Any day now someone could come along willing to pay full price. Am I wrong? [link] [comments]  |
| Source to create tenant lease agreements? Posted: 03 Aug 2019 11:17 AM PDT My lawyer went AWOL (no joke), and wanting to create a new tenant agreement for apartment building I took over 3 months ago. the old leases are nearly 10 years old. Previous owner(s) of the apartments were very lax on rules and I know some of the rules in the old lease are currently being broken of which I want to amend and figure I'll start with a new lease as I am the new and sole landlord. Where have others sourced a legal "template" for apartment rental leases? State of Indiana. [link] [comments]  |
| I'm applying for a lease, and I just ran into a HUGE issue if anyone has any advice... Posted: 03 Aug 2019 07:40 PM PDT Hey everyone, quick question regarding a rental application. I am not currently on a lease and do not have a formal landlord. I am applying for an apartment and there are fields for present landlord, their complete address, and their phone number. Should I leave those portions of the application blank, put N/A, or put the information for who I am currently paying my portion of the rent to? To clarify, I am currently a long term guest of a lease holder and am seeking my own apartment. I live with my partner and a friend of ours who are both on the lease, and I'm nervous that if I put their landlord's info down that the realty company will try to contact them and not only will they both get in trouble, but they may get kicked out and I may lose my chance at renting the apartment I am applying for. Any advice on what I should do here? Thanks in advance!!! [link] [comments]  |
| Buying a house before it goes on the market Posted: 03 Aug 2019 07:23 PM PDT My wife and I (looking for our first home) are close friends with a couple who live next to elderly neighbors. We really like the location and can see it as a place to live for quite some time now. Our friends mentioned that the elderly couple plans on moving into assisted living by November this year and will likely be selling the house starting in late August. Background - We currently have ~40k saved toward a down payment in the next year on a home and we were really hoping for 20% when the time came - property would likely go for ballpark of $205k-225k As we are very interested in potentially buying their property and it is not on the market actively yet, how should we best approach this situation? Also, what are the pros/cons to trying to work directly with the seller or perform the sale without realtor involvement? [link] [comments]  |
| Posted: 03 Aug 2019 05:36 AM PDT What type of language should be used to document a suitable housing contingency in the offer to purchase? The seller has a signed P&S on their next home, but are requiring a suitable housing contingency. What's a reasonable timeframe to provide? Thanks. [link] [comments]  |
| Posted: 03 Aug 2019 12:29 PM PDT I'm look to do a tax appeal and in order to make my case I have to find all the homes in my zip with similar comps, find their appraised values, and tax rate. Any resources where I can bulk collect this data? I know you can use the tax assessors site but I would have to do it one by one and there's thousands of homes in my zip. Thanks! [link] [comments]  |
| Loving everything Real Estate. Are there any niche forums for real estate? Posted: 03 Aug 2019 04:01 PM PDT |
| My mom is retired, selling her house and going to rent - will she have problems? Posted: 03 Aug 2019 03:37 PM PDT Lots of places want recent pay stubs and letters from prior landlords... my mom has been retired for 20 years. She is selling the house she has lived in for 40 years... How can she qualify to rent as a retired person with "no prior rental history"? [link] [comments]  |
| 25yo, looking to start investment/rental property Posted: 03 Aug 2019 09:29 AM PDT Hello. I am looking into getting more investments under my portfolio. I make about 75k a year, with 760 credit score. I'm looking to finance a property and looking at 2 very different cities (Brooklyn, NYC - and Detroit MI) where do I start? What do I need to know? I have no prior background in this sector. Thanks in advance [link] [comments]  |
| First time homebuyer feeling overwhelmed! Posted: 03 Aug 2019 11:14 AM PDT Going to keep this as simple as possible. I'm sure you see this topic often!
Alright so there's the math. I am looking to buy but as a single man I keep vacillating between buying a home and just continuing to rent. I don't mind renting, although my rent is high, I am comfortable. But I hate being just "comfortable" if you know what I mean. I definitely sense I am stagnating. I don't vacation, I don't eat out, I don't buy a lot of things. I save a lot and bought my car out at lease in cash last year without even blinking. I KNOW the math works for me. My inspection is tomorrow, after which I have 10 days to make any requests before entering my earnest deposit. Every single day I go in between buying and using the inspection as my out. Some days I feel so confident, and others, like right now, I am sick to my stomach of tying up 20% for years in my house. I like the house. It's not huge (3 bed, 1.5 bath) but it's one owner, and needs light updating (bathroom and kitchen floor mostly.) I am overwhelmed. I am single, my family is far, and although the math works for me (it really does...I know it looks like it doesn't but it does) I can't shake that this is going to be a mistake. I feel listless. Anyway - if I back out for private reasons after the inspection - would I be crazy?! I've felt this way before, and things have worked out, and I am afraid of being priced out of the market in the future, but...here I am. [link] [comments]  |
| Posted: 03 Aug 2019 11:06 AM PDT Does anyone have any experience getting one of these loans? Seems like a well kept secret on these loans for home improvements. Also, can't find a lender in my state (Arkansas). [link] [comments]  |
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