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    Thursday, January 9, 2020

    Is the housing market in your area cooling or turning down? Where? Real Estate

    Is the housing market in your area cooling or turning down? Where? Real Estate


    Is the housing market in your area cooling or turning down? Where?

    Posted: 08 Jan 2020 12:05 PM PST

    I live in the San Francisco Bay Area, and we are definitely seeing a cooling housing market with significant year-over-year declines of -5% to -10% in many South Bay regions (particularly Santa Clara County), and declines of around -5% around the East Bay (eastern and southern parts of Alameda County). Cities like Oakland and San Francisco have flattened. This site confirms what I am saying:

    https://www.zillow.com/san-jose-ca/home-values/

    Are you seeing downturns in your area? Where? And by how much? What are your thoughts?

    submitted by /u/WhyYouYelling
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    Historical Real Estate: Do or don’t?

    Posted: 09 Jan 2020 03:45 AM PST

    Someone out there having experience buying historical property's for fix & flip?

    In some European countries you can have big taxe related benefits from owning historical properties. I'am super interested in that field but not sure how to handle it and where to find the best deals on the market...

    Thankful for any shared experience!

    submitted by /u/Eskusema
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    I'm (24 M) meeting a broker today to talk about being his assistant. I'm just starting out, any advice for my big meeting with the guy?

    Posted: 08 Jan 2020 10:56 AM PST

    Basements and resale value

    Posted: 08 Jan 2020 11:55 PM PST

    My wife and I are having a house built. We do not want a basement for multiple reasons, including flooding, cost, and radon. Plus a single level works perfect for us.

    Does not having a basement hurt resale value or appeal?

    submitted by /u/surprise_banana
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    Ernest deposit question

    Posted: 09 Jan 2020 04:12 AM PST

    In the contract we have listed to put down $1,000. What if we wanted to wire more(wife got a bonus so we decided on 3,000).

    Will that lower our loan amt or closing costs?

    submitted by /u/ficoscorelife
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    First time home buyer here! Any tips or advice welcomed & appreciated! Thanks!

    Posted: 08 Jan 2020 10:33 PM PST

    Hey y'all, I have been preapproved for a $400K home loan (didn't ask for any more than that) & this will be my first home purchase. I already have a realtor & I will be buying in Las Vegas (Summerlin or Henderson) & would like any tips from anyone on what to look for through this whole evolution! Thanks y'all!🤠👍

    submitted by /u/RedEvil7
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    Closing at end of month vs. Start of next month

    Posted: 09 Jan 2020 12:25 AM PST

    Is there any financial benefit to me if I close at the end of the month (31st) vs. the end of the first week of the following month?

    submitted by /u/ficoscorelife
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    I'm needing info on how to become a Landlord in Missouri and other things.

    Posted: 09 Jan 2020 12:19 AM PST

    I haven't started anything at all yet, I'm needing to figure out where to start.

    I've been looking online and it says Missouri requires a Salesperson license to rent properties, if I'm understanding that correctly? What is that even for? It says I have to pass a pre exam amongst other things, where do I acquire the information needed to study?

    Do I even need the license if I only plan to start with 1-3 houses? The license info is just confusing.

    Where should I go about making or getting a Rental Agreement?

    Once I purchase a house, how do I determine how much to set rent? Obviously you ideally want it to be a fair amount higher than the cost per month of your mortgage. How much more? How much of that difference should be set aside per month to pay for repairs/damages/etc?

    What else should I know and learn before I get started? Should I begin by getting loan information to see what I qualify for? If I qualify for 300k, could I use that to purchase multiple cheaper properties within that 300k limit? Or is that for a single property?

    submitted by /u/str8wh1tem4le
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    Escrow help needed to protect stake in house

    Posted: 08 Jan 2020 08:04 PM PST

    So my mom and step dad are selling the house and using the money to buy a new house. However my step dad decided to up his stake in the house unbeknownst to my mom. We are in escrow on both ends and it is set to close next week. My mom found out he lowered her stake in the house while signing paperwork.

    The papers have been signed already directing the money we will receive to go to the house we are purchasing. Is there any way to have them send the money to us (the sellers) instead of the other escrow? As both escrows are set to close soon, is there any way to protect my moms current stake in the house? Thanks everyone.

    submitted by /u/sapphire-panda
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    Can I shop for house loans?

    Posted: 08 Jan 2020 07:55 PM PST

    Hi there! We have been approved for a $250k home loan from one bank, is it possible to go to other places to see if we can qualify for more of a loan? If so, how do we go about doing this? Any tips for increasing our amount (even if it takes time) is appreciated!! (First time home buyers in WA)

    submitted by /u/Jinxx_00
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    Termites

    Posted: 08 Jan 2020 03:44 PM PST

    I am interested in this house and it seems like a great deal but today I noticed something that looks like termites on the front of the house.

    I could be wrong but it surely looks like termites to me. I snapped some pictures

    https://www.dropbox.com/s/f5k8k7b9ae6zjx1/skype_picture_2020_01_08t23_33_58_082z.jpeg?dl=0

    https://www.dropbox.com/s/q17uwlext6dl2r4/Skype_Picture_2020_01_08T23_33_47_127Z.jpeg?dl=0

    https://www.dropbox.com/s/lkfdrxelcgzeqzz/Skype_Picture_2020_01_08T23_33_35_946Z.jpeg?dl=0

    https://www.dropbox.com/s/jfajc2fxk2zl27x/Skype_Picture_2020_01_08T23_33_27_878Z.jpeg?dl=0

    should I pass on this property because I know termites can now be anywhere and everywhere throughout the house

    Would love to get your guy's feedback on this

    submitted by /u/enigmatic5000
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    Questions to ask when selecting a buying agent?

    Posted: 08 Jan 2020 02:44 PM PST

    We're starting the process and want to get an agent locked in. We already went through the preapproval process and we met with one agent who wasn't a good fit. What are some good Q's to ask as we search for an agent?

    submitted by /u/pactodc
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    Buying out partner from mortgage

    Posted: 08 Jan 2020 09:01 PM PST

    My SO and her sister co-own a condo, and I'd like to buy out the sister's half to turn into a rental. I am thinking about options on what to do with this condo, and I am entertaining the idea of buying out her sister's half of the ownership. I suspect their value has increased significantly, and their equity has increased substantially as well, after 9 years of living there.

    If I have some, but not unlimited funds, what are the options I have to buy her out? If she took her equity out after a higher appraisal value and we refinanced, how would I gain the funds to pay her out, or is it cash only in this situation?

    submitted by /u/ppadru1
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    How To Approach?

    Posted: 08 Jan 2020 08:18 AM PST

    I'm a contractor looking to network with real estate agents for referrals, what's the best way to create a relationship? Is dropping by the office with food and business cards enough?Any other ideas?Thanks

    Edit: To be More specific if it helps, I specialize in Mold & Water damage, I offer other services such as duct cleaning, carpet cleaning, power washing, odor elimination. I'm in NY state where there is a lot of mold and mold laws.

    submitted by /u/BizNick08
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    Deaf and Blind Individual Seeking for Advice for Connecting to the Right and Competent Realtor?

    Posted: 08 Jan 2020 04:56 PM PST

    I done the obvious steps of making sure I may be able to afford housing and my overall housing budget. However I am lost on actually specing out a house beyond looking on Zillow's "specs and features" menu.

    Before you also ask no I do not family members or friends who have connections to a competent realtor either.

    So in short do I get myself into the housing market as an informed home buyer when I don't have a realtor to turn to to help me "weed out" the shady, houses that are actually more of fixer upper than a live able house, property harboring legal issues and/or etc?

    submitted by /u/FriendlyPerson018
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    Manufactured to real estate

    Posted: 08 Jan 2020 08:33 PM PST

    I am looking at a property this weekend that I fell in love with from the listing. I spoke to my realtor and she said that the auditor Dept has the house listed as a manufactured home converted to real estate and that the value is really only in the land.

    I can't find any reliable information about what this means in terms of value, cost, risks, etc.

    What should I know and look for?

    submitted by /u/MissMaladaptive
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    Are these costs for additional inspections reasonable?

    Posted: 08 Jan 2020 04:35 PM PST

    First time home buyer. Is the pricing for the additions excessive and are these additions overkill? Home exterior maintenance including roof and siding are included in HOA.

    submitted by /u/drdessertlover
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    I’m soon to be part of a road maintenance agreement and would love some input on things to avoid.

    Posted: 08 Jan 2020 04:29 PM PST

    I am a new homeowner, as of last October, in a wonderful neighborhood on a private road. I absolutely loath home owners associations and anything related to them, however, we live on a private road with six other houses and everyone is interested in starting a road maintenance agreement. I'm 100% down with paying my part to maintain the roads, but I do not want this to become anything more than that or ever be held against me. Do you guys have any advice or things to look for that I should avoid? Lawyers to write it up, potential issues, anything. Any advice is greatly appreciated. Thank you in advance.

    submitted by /u/Cuttycorn
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    Home Warranty Help

    Posted: 08 Jan 2020 09:30 AM PST

    I am buying my first house and I would like to know who I should get my home warranty through. Is there a list somewhere that compares the best ones? Are they all pretty much the same? Please advise, the home I am buying is 42 years old so I am sure I will end up making a claim on this warranty. Thank you!

    submitted by /u/Fortyrounds936
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    SF Bay Area Housing, Buy now or wait?

    Posted: 08 Jan 2020 03:32 PM PST

    I'm wondering what all your speculation are of housing prices in the SF Bay Area, particularly in the peninsula down to San Jose. Comparing prices from 2012-now looks like prices have skyrocketed. Do you guys think prices will go up or down within the next few years? I understand any answer is speculation but I wan't to hear your opinions.

    submitted by /u/ivanhalen8
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    Structuring comp for package including representation on buying, selling, and renovation work

    Posted: 08 Jan 2020 03:20 PM PST

    Hi All - I am in a somewhat unique situation and looking for advice on how to structure compensation. Here's my situation:

    1. I have found a home I expect to write an offer on this weekend. Call it $725k
    2. I own a home I'll be selling for roughly $475k
    3. I expect to put about $50k of improvements into the new house before moving in
    4. I am not under contract with any agent on the purchase or sale
    5. I have used a contractor in the past for work on my current home and had a good experience. This contractor is also a realtor.

    The contractor/realtor and I have talked vaguely about him representing me on both transactions and doing the renovation work in a single structure, with the obvious expectation he will not collect full commissions and pay for the renovation work. He will have next to no work to do on the purchase side. My current home is in one of the hottest markets in the twin cities and I will price to sell.

    How would you propose paying this person?

    Thank you!!!!

    submitted by /u/Turkeygecko
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    Use my selling agent to purchase my new home?

    Posted: 08 Jan 2020 01:57 PM PST

    My house is on the market and if it were to sell soon, I know the exact house I want to buy. Should I just go straight to the selling realtor assuming I will get a better price since she would be getting the full 6% and not splitting?

    submitted by /u/dajewsualsuspect
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    Question for a real estate expert!

    Posted: 08 Jan 2020 11:35 AM PST

    I found out that they are building an on-ramp to a major freeway, very close to my house, maybe around 100-150 yards away. Do you think this ramp will decrease the value of my house? There is already a street there with traffic, but this may increase traffic (maybe). See link.

    New on-ramp

    submitted by /u/quintonizzle
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