THE FED RATE CUT HAS NOTHING TO DO WITH MORTGAGE RATES Real Estate |
- THE FED RATE CUT HAS NOTHING TO DO WITH MORTGAGE RATES
- Zillow Rentals has no way to DECLINE a tenant! LOL
- Noise affect property value?
- Mold- is it a deal breaker?
- Can I refer a buyer to an agent before I’m lisenced?
- How low can mortgage interest rates go?
- Possible to compete with flippers? (CA)
- Recent condo conversion - only one sold
- Mortgage records of property
- 3.125% with 1 point. Thoughts?
- Locking one mortgage and floating with another
- (Canada) Realtor suggesting Massive price drop?!?
- Refinance with low 1099 income and renting rooms (OR)
- Picture of Check for Earnest Money
- College degree ?¿
- Newbie currently in analysis paralysis for long distance investment property...
- Home Inspection Items
- (PA) Would you avoid buying a house right now because of CoronaVirus, stock market etc?
- Buyers agent question
- Friend bought a triplex several years ago and has been renting it. He goes to sell it; turns out it's zoned as a single family residence. What are his options?
- HELP. First time buying house and concerned about inspection.
- I'm looking for some clarification on a purchase that may not have been through probate properly.
- Should I wait on rates for my refinance?
- Home inspection when we bought and home inspection 1 year later vastly different
| THE FED RATE CUT HAS NOTHING TO DO WITH MORTGAGE RATES Posted: 03 Mar 2020 12:22 PM PST That's the title of this article here. And it is correct. Sorry for the caps, but that's how they wrote it! http://www.mortgagenewsdaily.com/mortgage_rates/blog/937527.aspx [link] [comments]  |
| Zillow Rentals has no way to DECLINE a tenant! LOL Posted: 03 Mar 2020 03:22 PM PST So... I posted a rental on ZILLOW that clearly states is Under Construction and NOT AVAILABLE until 5/1/2020. We're building multiple cabins, designated as 55+ rentals (as allowed by Fair Housing Law-different post). I get this Zillow applicant that wanted it "2/28/2020" - and isn't 55+. I write Zillow for help... and... 4 days later, they tell me there is NO OPTION to decline tenant. Also, no way to contact them, see their info, etc. HAHAHAHAHA.. OK- so - Zillow can explain to them why they don't get a response. Such nonsense. [link] [comments]  |
| Posted: 03 Mar 2020 10:02 AM PST Thinking of buying a property, but it is close to a large drain/reservoir so there's constantly the sound of falling water 24hrs a day. The sound is not audible in the house with windows close, but pretty loud in the yard. Now, the sound of water is said to be one of the least irritating noises to humans and it doesn't bother me personally, but would this be something that takes a chunk out of the value of the property when reselling? [link] [comments]  |
| Posted: 04 Mar 2020 04:12 AM PST How big of a problem is mold in a home? Should we run at the first sight of it or are some homes still worth considering? Can the extent of mold damage be revealed in an inspection? Or is there a possibility we buy the home and then find some major surprises later? [link] [comments]  |
| Can I refer a buyer to an agent before I’m lisenced? Posted: 04 Mar 2020 04:01 AM PST Hey reddit. I am in the process of getting licensed and I have a friend that is looking to buy. I know I'm not much of a help since I'm not licensed yet but I was wondering if I could refer them to an agent for a cut of the commission? I'm not sure if this would be prohibited considering I am not licensed. [link] [comments]  |
| How low can mortgage interest rates go? Posted: 03 Mar 2020 12:54 PM PST I've been watching rates closely as they fall this year. I didn't think it was possible but it may actually make sense refinancing my 3.25% 30 yr VA loan (IRRRL "streamline") if I can get a 2.75% rate (currently it's down to 2.875), with a 10 month break-even. Is there a floor to what rate the banks can offer... a point where banks won't drop the rate below because they can't make money on the loans? I'm just wondering if it is at all possible to get a better rate down the road... Thanks for your input! [link] [comments]  |
| Possible to compete with flippers? (CA) Posted: 03 Mar 2020 02:25 PM PST I'm buying a SFH in San Diego. Our condo sold in 6 days for about what we were asking. Our buyer, thankfully, is going to be flexible with the close date so we can find a house. I want to find "grandma's house". Ideally it will be outdated fixtures, colors, and kitchen but with a new roof and sewer line. We've seen a couple, and even made offers above asking, but we've lost to flippers with cash offers. They will buy a place for $550k, then list it for $700k 2 months later after painting everything white. Does anyone have any stories about beating a cash offer with traditional financing? I want to buy a place and slowly make it my own, not buy a flip that looks like a hospital with cheap grey laminate floors. Thanks for any advice. [link] [comments]  |
| Recent condo conversion - only one sold Posted: 04 Mar 2020 03:00 AM PST Putting an offer on a recent multi family condo conversion the unit I'm going for has a few offers. The unit above it has none. They have also listed the house as a whole for a multi family listing. What happens when unit 1 sells but unit 2 sits? The condo docs are "written up" and the listing agent said the buyers get to choose things like pet policy, etc. if there's no one buying unit 2 do I just call all the shots of the condo docs myself? [link] [comments]  |
| Posted: 03 Mar 2020 02:45 PM PST Is there a way to pull the mortgage records of a property if you're not the owner? [link] [comments]  |
| 3.125% with 1 point. Thoughts? Posted: 03 Mar 2020 10:28 PM PST Is this a good rate? Already have an offer accepted so in a tight timeline. I think it's a $3500 upfront cost to bring it down from 3.49 to 3.125 on a new condo [link] [comments]  |
| Locking one mortgage and floating with another Posted: 03 Mar 2020 05:36 PM PST So I recently locked a 3.125% 30 yr fixed and now found 3% lenders. Is it frowned upon to shop more if I can't float down only 0.125% after locking and have not paid any lender anything yet? [link] [comments]  |
| (Canada) Realtor suggesting Massive price drop?!? Posted: 03 Mar 2020 10:42 PM PST Hello Real-estate. I had posted 2 weeks or so back about how our realtor thought we were pricing our house too high at $590k when we listed two weeks ago. Today he sent my wife a message saying basically "Please sign this document to lower the price of your house" and it had $559K on it. without even discussing with us prior to sending the doucment over. Of course she didn't sign it, she told him she would talk to me but we were thinking $575K minimum. BCAssessment says out house is assessed at $569K We have had 2 showings thus far and a 3rd happening tomorrow. We had planned to lower our house to Either $580K or $575K in an effort to sell as we do have a new house that we get posession of on april 10th that we would hope to be sold before hand. Similar properties (well one) in our area has sold for $595K recently after sitting on the market since october. Other similar properties have been on the market a similar time to us at a similar price to us. According to the realtor 11 people have marked us as a favorite on Realtor.ca so that sounds like it should be a good thing yes? This is my first time selling so I am new to all the selling side of things. Does it seem strange that he would send over something basically trying to pressure us into selling for a very low price? [link] [comments]  |
| Refinance with low 1099 income and renting rooms (OR) Posted: 03 Mar 2020 10:15 PM PST I bought my house about 2 years ago with a $425k 30 yr rehab loan @ 4.85% + PMI, and right now I'm only ~$10k away from 80% LTV based on $500k appraisal. It seems like I could do a lot better than my current rates so I'd like to refinance, but I'm not sure how that would work with my income. The last 2 years I've been building a business and taking home relatively little in 1099 work (<$10k) and partially living off some savings. I'm also renting out some of the rooms in the house. With a better rate, that could potentially cover the mortgage. Would it be possible to refinance with my current financial situation? If my understanding is correct, I can deduct mortgage interest from the rental income, leaving a minimal net profit, but I'm not sure if that would hurt me by bringing down my reported net. I'm just trying to figure out how I can refinance short of getting a W2 gig for a bit - which I can do if neccessary, but don't want/need to do financially. How do I get these awesome <3.5% rates I keep hearing about? [link] [comments]  |
| Picture of Check for Earnest Money Posted: 03 Mar 2020 06:25 PM PST Is it normal for a seller to ask for a photo of a check for earnest money? My plan is to send them the photo of the filled out check, but black our my account and routing number. Just sounded odd, didn't know if it was common practice. [link] [comments]  |
| Posted: 03 Mar 2020 10:08 PM PST Please someone help me out who knows better than I do. I'm 19 and have the ability to go to a 4 year college next year, where I would most likely study business. I'm not opposed to this but I have no doubt when I'm done I'll pursue a job in real estate. Is it worth getting a degree with the tie down of student loans and lost time or should I go straight into getting my real estate license. [link] [comments]  |
| Newbie currently in analysis paralysis for long distance investment property... Posted: 03 Mar 2020 09:49 PM PST TL;DR - How did you make the jump into buying your first long distance investment property? I want to buy an investment property in another state as I'm being priced out in my local market. I've talked to a few agents and even started getting in contact with some property management companies, but I'm currently in paralysis. With my budget, I can only buy in C class neighborhoods right now and I'm looking at small multi families. I've short listed a few places, used rentometer.com, and I've also looked at the list of properties for rent through the property management to see rental prices in the area. I haven't made any offers yet - the one I originally wanted went into contract before I could. My agent has told me that the neighborhoods that I'm looking at aren't safe and these tenants are more "month to month" and I'll be chasing rents. These comments are causing a large portion of my paralysis. Additionally I'm afraid that my properties won't be rented out. What are some things that you had to do to talk yourself into making the jump into buying your first property? Preferably, your first long distance investment property? [link] [comments]  |
| Posted: 03 Mar 2020 09:39 PM PST Just curious on others who have bought plenty of homes, get your take on this one. So I think the home inspection went well overall. There were just a couple things that concerned us, had questions on.
I do not think anything here is of a major major concern, but I think the chimney needs to be looked at and I plan to get someone out to look at it. I do know the people had there father do the new kitchen before they put the house up for sale and I understand he is a contractor, seems like two outlets just got missed, I'd be fine with him just coming out to fix it on there dime/time. [link] [comments]  |
| (PA) Would you avoid buying a house right now because of CoronaVirus, stock market etc? Posted: 03 Mar 2020 01:51 PM PST I'm about to go see a house tonight and it feels like I have seen everything that fits my narrow list of must haves (price, proximity to ex, bedrooms). I think this may be it but now I'm worrying that I may be putting an offer in on the eve of a market crash with all this uncertainty. Anyone else in a similar situation? I know we can't predict the future but I'm open to hearing everyone's thoughts. [link] [comments]  |
| Posted: 03 Mar 2020 05:28 PM PST Hi all. I'm starting the house hunting process and am looking for a realtor to help find us houses in our preferences and guide us through everything. My wife started chatting with a woman she met from a Zillow listing. I told her that woman was likely a sellers agent and was only interested in showing her homes she represented. I decided to ask this woman if she could represent us as a "buyers agent" with no dual agency. This was her response:
As a first time home buyer, this is all new info to me. In short, is she saying that she can help? The bolder part was what confused me. [link] [comments]  |
| Posted: 03 Mar 2020 08:44 PM PST In NM. He has already been denied at a hearing with the city council to overturn his zoning request to be changed to multifamily. Without the zoning change it is likely that no buyer will touch his property. What can someone do to recover from this or get the property sold? He is in a financial pinch right now and is facing bankruptcy if he doesn't offload the property soon. [link] [comments]  |
| HELP. First time buying house and concerned about inspection. Posted: 03 Mar 2020 01:07 PM PST Hey ya'll Long story short, we found the electrical breaker box in the kitchen cabinet. Our realtor and the inspector told us this would be an issue when we went to sell the house, and that the seller did this without a permit. This is a huge fire hazard that insurance will most likely not cover because it's "not up to code". The rest of the issues are small fixes that will be around 200-500 to fix, not a big deal. But moving this breaker box could cost hundreds or thousands. Is it the sellers job to fix this issue before we agree to purchase? We absolutely love the house and want it badly, but we already offered 10k over asking price and do not want to put more money into things that should've been fixed a long time ago. We are willing to buy the house if the seller will A) move the breaker box, B) pay some of the closing cost so that we have money to fix it, or C) give us the money to fix it on our own and go on with their life. Are we being pushy and unreasonable? I really do not want to make anyone's life harder but having a breaker box in a cabinet when wet plates and cups tend to go into is just crazy to me. Thanks for the advice in advance. [link] [comments]  |
| I'm looking for some clarification on a purchase that may not have been through probate properly. Posted: 03 Mar 2020 02:26 PM PST Necessary clarifications: I am a licensed agent. I am the buyer of the property. I have already reached out to an attorney. I am not looking for legal advice, just asking if anyone has encountered this situation before. I am purchasing a property in Kansas from and elderly woman and am set to close in 10 days. The title company reached out to her to get some documentation about her husbands death from just over two years ago. Title company told her that she needs an attorney to file probate and the attorney to get his childrens signatures releasing interest in the property before they could move forward. The property was hers before they were married but His name is on the title now. That's the situational information I have now. The question is: Even if his name is on the title, she should be the beneficiary unless she signed that interest away, right? Why would children need to sign off on it now? Also, if the children do need sign off, assuming none of them decide they want to cause a problem, what time frame are we looking at? What do you suppose the quickest this could move if childrens signatures aren't needed and they essentially just need to close the probate file? Thanks in advance for any experience you have. [link] [comments]  |
| Should I wait on rates for my refinance? Posted: 03 Mar 2020 07:37 AM PST I am less than a week away from signing the papers to refinance my house to a 15-year fixed. With the rate cut by the Fed (and more to come possibly?) should I wait a few weeks and ask the lender to lower my rate? [link] [comments]  |
| Home inspection when we bought and home inspection 1 year later vastly different Posted: 03 Mar 2020 07:36 PM PST |
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