What happens in July when the +600 unemployment ends and people can't pay the mortgage forbearance bulk payment due? Real Estate |
- What happens in July when the +600 unemployment ends and people can't pay the mortgage forbearance bulk payment due?
- My parents want to buy 2 feet of land from their neighbors. What steps should they take?
- Is it worth it to build a house or should you buy an already build and used house ? What are hidden costs with building a new house and what are chances and problems with building a house?
- How do deal with fabulous realtor who is too chatty?
- First steps for someone who knows literally NOTHING about home buying
- Realtor held an open house while there was an accepted offer and didn't disclose that there was an offer.
- How to get your foot in the door in the Real Estate industry with no experience?
- Fire Agent?
- I live in Michigan, my mom wants to buy a house in FL under my name. Is this possible?
- Northern San Diego $1.5M Market
- To Buy or Not to Buy: 3-Story Townhome
- House was appraised extremely lower than asking price
- Will replacing my lawn with low maintenance ground cover affect my home value?
- Refinance document recording question
- House seemingly listed for 5 years; what's a realistic price to offer?
- Is this cheap land sales business a scam?
- [AZ] Why are all the listings on zillow in my area posted as "pre forclosure"?
- Why do 'For Sale' signs outside properties not have the asking price of the property on?
- Short Sale - How should I respond to the following seller’s counter offer? Does 1% deposit up front sound normal for short sale with in house escrow? Or should I walk away?
- Every realtor that I see on social media is saying nothing but positive things about the market. How can this be with the looming tidal wave of defaults and evictions to come? What am I missing?
- At how many days on the market would a below list offer be acceptable? What makes a house comparable?
- FHA vs Conventional for First Time Buyer + Short Term Ownership?
- Generally speaking, when doing your own maintenance repairs would it be more useful to have experience in plumbing or electrical work?
- What upgrades/remods recoup the most value when selling?
| Posted: 06 Jun 2020 01:29 PM PDT I keep hearing the housing market is booming and there will be no dip in prices. As someone looking to buy I was hoping to see a pullback. I mean, thousands of small businesses were destroyed by the shutdown, but we're going to magically go right back to pre virus strength? Is everyone on board with this opinion? Thanks [link] [comments]  |
| My parents want to buy 2 feet of land from their neighbors. What steps should they take? Posted: 06 Jun 2020 03:36 PM PDT My parents are currently redoing their fence and found that a few trees had grown over the property line. They are in really good terms with their neighbor and she offered to sell 2 feet of her land to them. My parents would like to do this but neither party has any idea where to begin. A quick Google search said something about real estate lawyer and appraisers but the fence is already down so both my parents and the neighbor would like to do this quickly. Any help or advice is appreciated ! [link] [comments]  |
| Posted: 06 Jun 2020 05:57 PM PDT I wanted to use my money to finally buy some estate, i was living on rent for my whole life and i dont have any experience with real estate and property. When i am looking for property i always see those cheap building offers for about 300.000€-400.000€ in Germany near Stuttgart. My question is are those legit with no big hidden costs? or in general is it better to build your own house than buying an already build one ? [link] [comments]  |
| How do deal with fabulous realtor who is too chatty? Posted: 06 Jun 2020 10:13 AM PDT We're looking to move to Charlotte next year. I reached out to several realtors that checked off our boxes and narrowed it down to a wonderful, very experienced lady in the area. We signed on to use her. She's been nothing short of excellent, but spends WAY too much time rambling on. Phone calls have been up to an hour and voicemails are several minutes long. Being out of state buyers means when we are able to go visit and see houses, every minute counts. How should I address this with her, or should we just select another realtor? [link] [comments]  |
| First steps for someone who knows literally NOTHING about home buying Posted: 06 Jun 2020 11:03 AM PDT So, long story short, I grew up VERY poor and nobody in my family has ever bought a home. I have been saving to buy so I can get out of buying, but I am completely clueless. I have tried watching videos and reading information online, but all of it seems to assume people know the basics. In particular, my two main questions are: 1) Do I get pre-approved by a lender BEFORE choosing an agent, or does the agent assist in the lending process once we are working together? 2) How do I choose a lender to get pre-approved with? Assuming they are going to run my credit, I don't want to go through that process multiple times and have multiple inquiries hitting my report, so any help in figuring out where to begin is appreciated. Any additional tips or resources can provide for someone who has no clue how to get started would be much appreciated. [link] [comments]  |
| Posted: 06 Jun 2020 07:30 PM PDT Alright so I am going to try to make this as clear and forward as possible without going into a million details. So I got a job offer in a new city and am currently planning on moving. I took a long weekend and flew out to look at houses with about 7 houses to setup and view. Two on Friday since I got in later and five homes setup today on Saturday. Needless to say my realtor was clear that I was coming into town with the intention of putting an offer on a home and was already pre approved. Also the pre approval was for much more then the price range I was looking at. Just so we could counter without having to up the amount. So we viewed the homes and the last one was an open house that started at noon and as my realtor states when she reached out this morning there were no pending offers on the home and we attended the open house. Needless to say the home was exactly what I am looking for and we talked about the offer that we wanted to place on the house. An hour after the open house ended we went to submit an offer and the sellers realtor said they had received an offer and accepted it at noon. Right when the open house started. We talked with them and agreed that a backup off was ideal as the home being sold was contingent on the buyers selling their house in 48hrs. My realtor spoke to the sellers realtor and we came to an agreement that if I submitted a certain backup offer they would not take any additional offers after. Well we submitted what they requested and they rejected our backup off now. I've done a few realestate deals and never experienced anything like this. I feel like there was information withheld that caused me to miss out on a home that I would have loved to purchase. Is there some violation going on? What are my options. Summary I looked at a house that held an open houses without disclosing there was an accepted offer and when I put a backup offer in it was denied. [link] [comments]  |
| How to get your foot in the door in the Real Estate industry with no experience? Posted: 06 Jun 2020 02:57 PM PDT Hi, so I am currently 30yrs old and have been working in Early Childhood for the past 9years as an Educator. I have just completed a certificate of registration in Real Estate NSW Australia, wanting to transition my career to being a Real Estate Agent. If any one here has transitioned their career to Real Estate I would love to hear how you did it. Thanks for taking the time to read this. [link] [comments]  |
| Posted: 06 Jun 2020 04:43 PM PDT What things should I consider when deciding whether to sign a contract extension with my real estate to sell my house? We're about 3 months in, the contract is for 4 months, and we haven't gotten a single offer. We've had quite a few showings though, so I feel like he has momentum to find a buyer? [link] [comments]  |
| I live in Michigan, my mom wants to buy a house in FL under my name. Is this possible? Posted: 06 Jun 2020 06:03 PM PDT Hoping I can get advice. So my mother is retired and wants to move to Florida. She gets only a little over $1k/month in social security. She does have over $1million in the stock market. (I know it's not good to have retirement in stocks after you retire, but I can't talk her out of that) She wants to buy a house around $300k, but wants a conventional loan with 20% down instead of paying in full. She also wants to put the house and loan under my name. Please don't lecture me on how this is a bad idea, I already know it. She doesn't have great credit and wants it done this way, and I'm fine doing this for her, IF ITS ALLLOWED. And that's my main question, is this possible? I live and work in Michigan. Is it possible for me to get a loan for a house in Florida when I'm not planning on moving down there in the immediate future? I have 800 credit score and make $80k/year. My mom fully intends to pay for the house, and I'm not concerned about her ability to pay. I'm just wondering if it's possible to even get a loan under my name in this circumstance? And again, please don't lecture on how this can be a bad idea and I'll end up being responsible if she doesn't pay, etc. [link] [comments]  |
| Northern San Diego $1.5M Market Posted: 06 Jun 2020 08:26 AM PDT For those of you in real estate, I am curious what you are seeing in the ~$1.5M market in northern San Diego with the squeeze on jumbo mortgages and tighter lending rules that came out lately. My wife and I are on the sidelines leasing a place for now, but we have been monitoring the market for the past few months. I've seen a lot of places in South Carlsbad, Encinitas, Carmel Valley come on the market between $1.3M - $1.8M, a lot go pending but many of them seem to be falling out of closing and going back on the market in the last couple of weeks. I assume that is due to tighter lending policy killing deals. I also wonder how many people have the cash and credit to qualify in this price range and if those buyers will dry up as the summer goes on and more inventory hits the market as the phased re-opening continues. None of us can predict the future, but curious to hear your opinions. [link] [comments]  |
| To Buy or Not to Buy: 3-Story Townhome Posted: 06 Jun 2020 08:03 PM PDT Hi all - long time lurker, first time poster here. Investment property Q - what are your thoughts on standalone three-story townhomes as a rental property? Specifically in this case, townhouse is in a new hot development in mid-market city (Boise) and brand new construction with all the nice fixings, great views, tons of natural light, etc. Lots of young professional transplants flocking to this particular new development but wondering if the three-story townhome only plays well in densely packed urban areas - or at all? Any and all advice greatly appreciated. [link] [comments]  |
| House was appraised extremely lower than asking price Posted: 06 Jun 2020 04:00 PM PDT Hey everyone, we're looking into buying our first house and we've seen multiple properties but fell in love with one in particular. Perfect location, town, property except the price. The property was appraised $120,000 less than the listed price and the house needs a lot of work. Before we found out the appraised price our realtor agreed that the property is overpriced. Is this normal for a house to be marked up to this price? And is there anything we can do? [link] [comments]  |
| Will replacing my lawn with low maintenance ground cover affect my home value? Posted: 06 Jun 2020 11:30 PM PDT I really hate mowing and planting an alternative ground cover that does not require mowing sounds very attractive. Will having an unconventional back yard hurt my home value? [link] [comments]  |
| Refinance document recording question Posted: 06 Jun 2020 11:29 PM PDT Hi All, I recently just refinanced with a different bank. In the closing DOCs there was a notice that my loan would be sold. I looked up the recorded docs and so far and I see "SUBSTITUTION OF TRUSTEE" with the grantor being my old bank, however the grantee is my old bank as well. Does that mean I've ended up right back where I started albeit at a lower interest rate? FYI I live in SoCal. Just curious. I haven't received anything in the mail yet. [link] [comments]  |
| House seemingly listed for 5 years; what's a realistic price to offer? Posted: 06 Jun 2020 03:02 PM PDT House has periodically dropped in price from $399k to a current price of $315k. I'm curious to what might be a realistic price this could be purchased at. Also, am I wrong in guessing that it is owned currently by a real estate company? I appreciate y'alls guidance. House in question is below... https://www.zillow.com/homedetails/905-Monongahela-Dr-Dixon-IL-61021/91397766_zpid/?utm_medium=referral [link] [comments]  |
| Is this cheap land sales business a scam? Posted: 06 Jun 2020 06:45 PM PDT I have been looking on this website to buy some vacant land in Idaho Springs, Colorado: www.cheaplandfarm.com I have been emailing back and forth with the lady who I guess runs the whole website? It seemed legit, a few properties I had inquired about I was finding out had been sold. I found it through a Craigslist ad initially. However, I have never done this before and a few things about her last email seemed potentially off to me, but I'm not sure. She said she is the owner/managing member of an LLC that owns it. Also, to buy it you just click "Buy Now" and then you just have to pay a $497 doc fee that is not included in the sales price, and that then "triggers the closing process". How would I go about checking if this is legit? I've tried googling reviews adn whatnot but still am not sure. I don't want to pay the non-refundable fee unless I 100% know the terms, and can somehow verify it like doing a title search. Can anyone give me some thoughts and advice on what to do here? [link] [comments]  |
| [AZ] Why are all the listings on zillow in my area posted as "pre forclosure"? Posted: 06 Jun 2020 12:46 PM PDT I'm looking at homes to buy, and every single one Is listed as "pre forclosure/auction". Are they really homes being forclosed? [link] [comments]  |
| Why do 'For Sale' signs outside properties not have the asking price of the property on? Posted: 06 Jun 2020 07:05 AM PDT Sorry if this is a dumb question, but I've always thought it would make sense to have the price of the property on the for sale sign [link] [comments]  |
| Posted: 06 Jun 2020 10:23 PM PDT Hi! I'm a first time homebuyer. I submitted my offer, then seller countered me with: - "in home" escrow - 10 days inspection contingency period - liquidated damages - arbitration and mediation - 1% deposit up front upon acceptance then increase 2% upon delivery of short sale approval Is this normal? What do they really mean by the arbitration and mediation to be incorporated into the agreement? And has anyone dealt with 1% deposit up front upon acceptance prior to bank approval? Does this sound like a scam? It's my first time dealing with this, and I'm not sure how to respond to the counter offer. I believe I'm okay with 10 days inspection period, but I don't think I want to lose my 1% if I decided to change my mind later down the road. What do you all think? I really need the feedback! Thank you! [link] [comments]  |
| Posted: 06 Jun 2020 09:52 PM PDT |
| Posted: 06 Jun 2020 09:39 PM PDT Looking at a lovely 5000 sqft house that ticks 98% of the boxes. 5 bedroom / 4 bath with two car garage and finished basement. 0.2 acre lot. It's listed for 800K right now. On market 26 days so far. No price drops yet. Looked at comparables sent over by realtor - looking for advice on a decent starting offer price? We were thinking 750K but obviously don't want to be insulting. My agent's only thoughts so far is "we can try." We are of course willing to negotiate. Any thoughts based on the data below?
Active listings in the comps include
~~~~~ Now I don't know how an agent finds comps but browsing sold data on Zillow I also found these ones in the same geographic area by searching for 5 bed/4+ bath with garage and basement sold in the last 12 months....
Would really appreciate it if any agents are able to weigh in. Thank you! [link] [comments]  |
| FHA vs Conventional for First Time Buyer + Short Term Ownership? Posted: 06 Jun 2020 05:30 PM PDT Hey Reddit, So to get to the point, I don't have 20% as a down payment that I'm comfortable parting with yet. So I'd be looking at the 3% FHA or 3.5% as a "first time" buyer. My mortgage middle score according to MyFico in March was 786, and I expect it's probably gone up, as my other scores have risen 5-20 points since then. So my question is, are there any real benefits to the FHA vs 3.5% conventional that make a tangible difference for possible short-term ownership? I know my credit doesn't limit me to FHA, but I would only plan to be in this home around 5 years at this point. At least I hope, I'll be married and will be moving up in home by then. Optional info: I'm looking to buy my second home, (but first with myself on the mortgage - long story). The reason I specify, is I'm relatively familiar with the process, although I wasn't the one who physically signed the papers for the last home I was on the title for due to my credit at the time. The other take away, is don't buy a house with an S/O if you're not married, kids. Anyway, the dilemma I'm in, is by the time the lease is up in the apartment I've been in since, I'll have spent close to 20k on my rent + mandatory various amenities/utilites. Oof. So I'm thinking, I don't know how much longer I can throw away money, so I'm considering buying again, this time as a single guy. I've been hesitant about it, because I don't want to have mortgage baggage if I meet the love of my life across the country... but I don't want to live on hypotheticals either. Thank you! [link] [comments]  |
| Posted: 06 Jun 2020 01:41 PM PDT I'm 17yo and I'm planning on joining the army and I figured it would be useful to go into a MOS that I could use as a part time job and to maintain real estate once I start buying property. In your opinion/experience does a typical property require more utility payments for plumbing or electrical work? [link] [comments]  |
| What upgrades/remods recoup the most value when selling? Posted: 06 Jun 2020 01:32 PM PDT I bought my first home 3 years ago in the SE US. It was built in the late 80s. It's a 2/1, 1,000 sqft home. I don't have plans to live here forever but have no plans of selling in the next year or two. I am trying to complete projects that will up its resale value when I do decide to sell. I've partially redone the bathroom (vanity with quartz countertop/paint/brushed nickel fixtures) and I am currently demoing the entire kitchen (new cabinets, new appliances). It needs new windows throughout and a new sliding glass door. It also has wood siding which has held up remarkably well but would fair better in this climate with something like a Hardieboard ($$$). Also, the garage door and the floors could use a facelift. I have about $3,000 right now to spend on a project but am looking for advice from a realtor or someone who has remodeled and sold their home on what I can do to get the biggest bang for my buck. New windows? New garage door? Paint the outside of the house? New floors? [link] [comments]  |
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