Refi Mania PSA: You don't HAVE to reset to year 0 of 30 when you refi Real Estate

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• Refi Mania PSA: You don't HAVE to reset to year 0 of 30 when you refi
• Buyers Burn Out
• Garage is Gone - Do I need to update survey?
• Is it worth buying a house/condo in Southern California?
• Paying Mother’s rent vs Buying
• Idea: Buying a house for uni through a mortgage, renting other 2-3 rooms out to other students
• Should I ask for a buyer rebate to my broker?
• First Time Home Buyer, Been Searching For Almost A year. Does The Upcoming Election Effect The Housing Market Much?
• Denver Area
• Selling House As Is??
• Can I call an agents broker myself?!
• Looking for agents to partner with in CA
• If a termite bond is going to be transferred, does it HAVE to be done before closing/at closing, or can it be done later on down the road?
• QuitClaim Deeds
• Assessor's Questionable Actions
• Hate Zillow? Tell me why (Nationwide)
• New agent
• New construction home - Amazon & Ikea delivery problem?
• Thoughts on Irvington, NJ
• Roof inspection - is this a red flag
• New construction Availability on redfin represents actual availability?
• Best path for saving on interest?
• VA Loan Appraisal - Railing Width Between Balusters?
• Job change planned just after closing (US)

Refi Mania PSA: You don't HAVE to reset to year 0 of 30 when you refi Posted: 25 Feb 2020 05:42 PM PST You can do a new fixed rate loan that has a 15 year term, everyone knows that. You can also do 29 years, if you just purchased 1 year ago and do not want to "reset." And you can do 27. And 23. And so on. You can do math and figure out, "ok, so I purchased in 2018 when rates were at 7 year highs, and I'm comfy with that payment. If I stick with the payment I'm used to, how many years can be chopped off just by the lower rate?" That's a nifty problem to solve for. You have to go down to a 20 year fixed rate and term before you start to see rate savings, until that it's just the benefit of your minimum monthly payment (if you're someone who will only ever pay a minimum payment - be honest with yourself here) being such that 30 years from when you purchased is when it pays off entirely, rather than 30 years from when coronavirus hit and all the media told you it was time to refinance. Make sure to ask, get a side-by-side, etc. Cheers, continue with the refi mania. :) submitted by /u/aardy [link] [comments]

Buyers Burn Out Posted: 25 Feb 2020 05:37 PM PST We are having serious burn out. My spouse and I must have seen a 3 dozen homes and gone to 100 open houses. We did find a wonderful place but seller took another offer. (Our realtor was convinced we had a great offer) We have a toddler so seeing homes during the week has been a disaster. Missing dinner and late bedtimes have added to the stress. Now there are homes hitting the market during the week with 24 hour offers that cause us to make a quick decision after 30 mins of viewing. No friends or family in the area and no babysitter that can watch our kid in an hours notice. Burn out, frustration, stress, and disappointment. Any advice from someone who has experienced this? How did you over come your situation? What was your result? submitted by /u/go_fight_kickass [link] [comments]

Garage is Gone - Do I need to update survey? Posted: 25 Feb 2020 11:25 AM PST I am selling my house to my in-laws. We bought the house with a shitty garage that eventually caved in. I demolished it and cleared the area. I did this without permits because I did not plan on moving. Fast forward to now. We are planning to move and sell the house to my in-laws. They don't care about the no garage but is this going to cause an issue at all with their bank that they are getting their mortgage through? Am I going to have to pay for an updated survey? submitted by /u/Shmerzz [link] [comments]

Is it worth buying a house/condo in Southern California? Posted: 25 Feb 2020 07:23 PM PST With interest rates at an all time low and with a housing market at an all-time high, is it worth buying a house in southern California specifically San Diego? I'd be a first time buyer and I'd use it as a rental. submitted by /u/SD_ThrowAway999 [link] [comments]

Paying Mother’s rent vs Buying Posted: 26 Feb 2020 02:54 AM PST As mentioned above I currently pay rent for my mother and my little brother. Around $600/month and I have plenty of disposable income. Worth it to just buy? This would be my first purchase but property in Alabama seems dirt cheap. Any suggestions? submitted by /u/vaneeladrop [link] [comments]

Idea: Buying a house for uni through a mortgage, renting other 2-3 rooms out to other students Posted: 25 Feb 2020 11:07 PM PST Hi everyone, I'm 17 and relatively new to the idea of real estate investing. I was introduced to it through my father and have started to gain more interest in it. In a years time, I plan on studying in Australia for uni. As it turns out, living costs are extremely high, especially in the cities where I plan to study. I would love to be financially independent by the time I leave home but it may be a bit unrealistic considering the high prices of uni. So, I was thinking about buying a 2-3 bedroom house/apartment near the uni I will be studying in through a mortgage and renting the other rooms out to other students. This sounds easy in theory, but I'm sure it is very hard to accomplish, not only in terms of actually financing it. I would love for some advice or tips from anyone who has experience or expertise that is relevant to my situation. Thanks in advance! submitted by /u/n_kirby [link] [comments]

Should I ask for a buyer rebate to my broker? Posted: 25 Feb 2020 10:11 PM PST I'm about to get into contract on a property, but was told that it's not uncommon for buyer to get a rebate on broker commission if they ask for it. I'm working with a big established real estate firm (Compass) in the NYC market and this is for a new construction. Should I ask my broker about this, and will this not offend my broker? If so, should I ask before signing the contract or can it be negotiated at any point before closing? submitted by /u/shibeouya [link] [comments]

First Time Home Buyer, Been Searching For Almost A year. Does The Upcoming Election Effect The Housing Market Much? Posted: 25 Feb 2020 06:20 PM PST Hey all, Thank you for replying, if I get any.....I am a first time home buyer, been looking for the right moment to strike. Two main questions, people tell me I shouldn't target looking for a home in a recession because no one knows when a recession would actually happen. Is that true? Also, I found a new construction build that was listed at 350, now it has gone down to 329. It has been on the market for 6 months now, and I think it is a beautiful home. Since it is an inventory home, here are my questions: How much do you think it would go for? Do you think if I offer 300-305 range is a low offer? Should I wait and see if the elections would make houses in that area drop in price? I read a lot on elections, stats say home prices drop because Americans are less likely to purchase a home due to the policies the next president could bring. submitted by /u/RaigonX [link] [comments]

Denver Area Posted: 25 Feb 2020 12:21 PM PST My S/O and I are looking around Denver area. Any thoughts on specific areas that are turning around or over-looked? submitted by /u/earthtologan [link] [comments]

Selling House As Is?? Posted: 25 Feb 2020 05:28 PM PST I want out of my house so badly. I can't keep up with the repairs and the other things that need to be done. I bought the house in 2016 and have since installed new furnace, a/c, water heater, windows, roof (including decking), soffit, facia, gutters, vapor barrier for crawl space and sump pump. I still have to paint or replace siding (currently wood siding) and new driveway/patio/walkway. The concrete is leaning in towards the house and I believe is causing a lot of the water getting into the crawlspace hence the vapor barrier and sump pump. I also have to re-do the bathrooms sooner than later because of water issues and I believe mold behind the shower tile. I can't do this anymore. I live in the suburbs of Chicago, property tax is 2nd highest in country and I'd just rather rent. I know selling as is won't get you much money but at this point I'd be happy to break even after it's all over. Can having done all the big items on the house help to sell as is and get me more money so I won't lose? Or should invest more into the bathrooms and then sell? Bathrooms aren't cheap and I'm about broke. submitted by /u/_Fafinette [link] [comments]

Can I call an agents broker myself?! Posted: 25 Feb 2020 08:37 PM PST I put an offer on a property literally a month ago. Since then we've had some back and forth about a solar panel on the property. We then decided we'll take over the lease of the solar panel and sent over a new offer saying as much. The sellers agent have been giving us the run around. He's saying the sellers dad does not know how to sign offer online therefore the son will bring it to him to sign in person. This was about 2 weeks ago. On Friday, the agent said we'll have the offer signed in his email after 4 pm. As you can see it's now going on Wednesday and nothing. My agent sent him another email on Monday morning and he has yet to respond. This has been the sentiment since out first offer. His communication is horrible. Couple weeks back my agent sent him an email saying he doesn't want to but if it comes to it he'll have to reach out to his broker, what do ya know he responded that same day. I told my agent today to reach out to his broker. There's no recourse for me if after another couple weeks he decides he does not want to sell anymore. We think they're waiting to see if they get a higher offer. Can I take matters into my own hand and call this guy's broker on my own as I feel my agent isn't doing much as well?! Is that a thing or should I let him handle it.. I could have been looking at other properties ya know. submitted by /u/SWEETLADY9876 [link] [comments]

Looking for agents to partner with in CA Posted: 26 Feb 2020 12:12 AM PST Hi. Some shameless marketing here: I'm an agent in SoCal area looking for fellow agents to bring me fixer uppers. On market, off market, either or works. Have an all cash buyer ready to go and can buy anywhere from Orange County to Riverside/SB to LA (as far as pasadena or so, no IE desert stuff). Purchase price as much as $1.3M or so, preferably less. SFR or condos are best. I will split my buyers commission 50/50 with you. I've done over a dozen deals with this buyer. You bring the prop, I bring the buyer. Let's go. submitted by /u/Jmacattack33 [link] [comments]

If a termite bond is going to be transferred, does it HAVE to be done before closing/at closing, or can it be done later on down the road? Posted: 25 Feb 2020 04:22 PM PST Lender does NOT require a termite letter/inspection and the seller has a transferable bond... Attorney is asking for the transferable bond... Can the buyer just do it later at some point or does it have to be done now? submitted by /u/AviatorNine [link] [comments]

QuitClaim Deeds Posted: 25 Feb 2020 07:22 PM PST Ok so I've been trying to buy my grandfather's house for going on 2 years. Currently dealing with a mortgage broker who says he can approve me but I'm always worried about what ifs because I've basically been given until April to make this work. Anyway a friend of mine who used to deal in this sort of thing brought up to me that I should just do a QuitClaim deed and then cash out refinance. When I asked a bank about being put on the deed and cash out refinancing I was told I would have to wait 12 months. Does this apply to QuitClaim deeds as well? I'm in PA. Thank you in advance to anyone who can help. submitted by /u/derangedcountry [link] [comments]

Assessor's Questionable Actions Posted: 25 Feb 2020 09:32 AM PST I own a smallish house upstate NY. The local assessor has it at 90K FMV. Two separate bank appraisals came in at 40 and 41K. I brought both appraisals to a grievance hearing and the assessor lowered the FMV to 88K. Of course he spoke in terms of assessment not FMV. He says new high end construction is raising my property value. Now an independent appraiser has told me the assessor should have lowered my assessment to match the bank's. He wants to do yet another appraisal and attend the next grievance with me. Not sure what to do. submitted by /u/arcticranger [link] [comments]

Hate Zillow? Tell me why (Nationwide) Posted: 25 Feb 2020 02:27 PM PST Im new to the real estate industry and I am trying to figure out the love/ hate and the hate/hate relationship with Zillow and why it exists? My co-workers love Zillow and are telling me I need to invest. But I have heard Zillow pay-to-play horror stories and Problem with Zillow ibuyer stealing commissions. Tell me what happened? I'm not selling you anything or will I use any specific details. This is a fact finding mission. Hopefully I won't get kicked off. Thanks. submitted by /u/reggieswt [link] [comments]

New agent Posted: 25 Feb 2020 03:17 PM PST I am 26 years old and wanting to become a real estate agent. The online course is 500 dollars but I was wondering what sort of resources are available online or at the library that would be beneficial besides the course itself. Thanks in advance, swayde submitted by /u/Swayde5 [link] [comments]

New construction home - Amazon & Ikea delivery problem? Posted: 25 Feb 2020 01:35 PM PST Location: Loudoun, Virginia. My wife and I will be closing on a new construction home in about a month or so. We are the first house to be finished building on a brand new road. Both or home and the road do not exists on Google Maps. We were wondering what will happen to deliveries such as Amazon and Ikea after we move into the home. We are going to need to buy a bunch of things (small, and large) once we move in the home, and this could be a big problem. With my latest attempt, Google Maps only allow regular user to add a "missing place" This place cannot be a residential home. Google Maps does not allow a regular user to add a missing road. We will get a home address, so I guess our mail from USPS will arrive. But we are not sure if any thing else will arrive correctly. Do you have any advice on how we can go solving our potential delivery problem? Thanks. submitted by /u/b10m1m1cry [link] [comments]

Thoughts on Irvington, NJ Posted: 25 Feb 2020 10:33 AM PST Looking at a renovated 2 family in the area and wanted to know if anyone has experience investing there. Can I expect the area to change for the better over time? submitted by /u/N4tional [link] [comments]

Roof inspection - is this a red flag Posted: 25 Feb 2020 09:54 AM PST Just got my house inspection done. Roof showed this defect: https://imgur.com/a/3et8thN. Should I walk or is this okay? Roof is 2 years old. Cold climate. Thank you. submitted by /u/AccomplishedActive [link] [comments]

New construction Availability on redfin represents actual availability? Posted: 25 Feb 2020 10:12 AM PST Builder mentioned that our favorite plan (a detached unit) is all sold out and that all planned development in the area is built. However, we just saw our favorite plan listed on redfin yesterday that said that it's ready to be constructed. We're currently in the process of purchasing another plan (attached unit) that's not our primary choice. Currently at the process of submitting purchase agreement to lenders. Builder previously mentioned that they would give us our favorite detached unit if available. I understand that seller is looking to close deal asap and get rid of built unit (attached). Is it too late to change to our favorite detached unit? Is redfin availability the same as actual availability? Thank you submitted by /u/omegachopstick [link] [comments]

Best path for saving on interest? Posted: 25 Feb 2020 05:24 PM PST So I will try to explain this the easiest way possible as my thoughts aren't quite complete. I think my long term goal is to keep the home I am purchasing right now. With the goal to rent it out. Current home, purchased for around 135,000, currently with a principal balance of 75,000. I would like to move from the home in about 3-4 years and purchase another home, while limiting my risk i.e. keeping the same house payment I have now and adding on another for a much more expensive home. Looking to purchase probably in the 225,000 to 275,000 range. Which in my mind puts be liable for over 300k in house payments. Not in budget nor do I want to be "house poor." I have been wondering would it be better to refinance that first mortgage now, to bring down the payment, but where i get confused is how interest amortizes and that refinancing often means new closing costs. Would I be paying the same or more in the long run. Current mortgage is in year 12 of 30. Any thoughts are appreciated and if this doesn't make sense I will work to clarify with any probing questions. submitted by /u/ohwow_really [link] [comments]

VA Loan Appraisal - Railing Width Between Balusters? Posted: 25 Feb 2020 08:30 AM PST Selling a 1970's home. We're about to go under contract and the buyer will be using a VA loan. I've been reading some negative things about the VA appraisal guideline process. Specifically we have 7.5" gap between balusters on our loft railing. Previously code was 8", but it is now 4". House has been sold several times without issues from the inspectors, but will this be an issue for the VA appraiser? If so, what should we do to prepare? submitted by /u/TheCurster [link] [comments]

Job change planned just after closing (US) Posted: 25 Feb 2020 09:39 AM PST I've read several posts about changing jobs prior to closing, but what about a planned job change post closing? Our closing will take place in late May/early June. SO is quitting and changing jobs beginning of July. Formal resignation was already given but his job requires him to stay until the beginning of July. He's going from a salaried position to a contractor (different company), but earnings will remain about same. Planning on speaking to the loan officer as soon as he has the new contract in hand (hopefully soon) but for now there's nothing to show so I don't know if we should bring it up yet. Is there anything else we can prepare to have to make the process easier? Should I mention this to my buying agent before speaking to the LO? submitted by /u/snail_power [link] [comments]

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