It seems that no one is talking about the need to buy and covid. Real Estate |
- It seems that no one is talking about the need to buy and covid.
- Listing agent played us
- Seller removed items from house after walk through.
- Childish dream or heaven in backyard?
- Closed on my dream
- Millennials Help Power This Year’s Housing-Market Rebound
- My appraisal came back earlier than expected!
- Financing question. First time home buyer
- As a buyer, I'm losing my mind in this market [rant]
- Rant: Bathrooms in Listing Photos
- Washington State Lenders?
- Land lord charging me for refrigerator.
- Is this a crack in foundation?
- Importance of Public School Ratings Bay Area
- Structural Movement
- Sellers rejecting Full Asking offers?
- How to find a "good" agent?
- [meta] Suggestion for rate posts & questions
- [NEWS] Eviction and Foreclosure Moratorium Extended to December 31, 2020 and Forbearance purchases extended to September 30.
- Roommates breaking lease and refusing to pay rent
- Cash purchase without an agent
- Real Estate schools in Los Angeles? Need help
- Just about to buy my first home, in a rush, didn’t expect to randomly find my dream home. I want to put an offer in ASAP but need lending. Can I ask some lending questions here?
- New job right before closing
| It seems that no one is talking about the need to buy and covid. Posted: 27 Aug 2020 06:41 PM PDT I keep seeing all of these posts/suggestions about waiting to buy. "There is no houses on the market. Everyone is overbidding to get in. In a year will have the ramifications of the economic downfall of everything " ect. What what people are not talking about is people who are buying because of covid. I live in a 2 bedroom apartment with my husband and my 2 kids. My husband and I are both college professors so we are working from home for this next year. Add my children will be distance learning for the next year. Normally we are fine with a 2 bedroom apartment because the kids go to school, we go to work, and the kids have after school activities and sports ect. My husband and I were planning on buying a year. But the idea of living in this 2 bedroom apartment with all of us working from home with no real outlets for a year......can't happen. I know I'm gonna overpay for a place but it's worth a year of sanity. Anyone else feeling this way? BTW we put an offer on a place yesterday wish us luck. [link] [comments]  |
| Posted: 27 Aug 2020 09:02 AM PDT We bought a house recently. Before we closed on the house we had a signed agreement with the previous homeowners through the listing agent to fix 3 things that was found by the inspector. They were safety issues as well related gas and electric. The listing agent told us they were fixed and receipts were left at the house. After we moved in we found that none of them were fixed and now he is saying you guys should have done a final walkthrough before closing. We are first time homebuyers and we didn't know about a final walkthrough and our agent didn't suggest any of those. Now we are not sure what to do? Report him to ethics or take legal action against him for not full-filling the agreement. Any suggestions? Edit: Location: MIchigan, USA [link] [comments]  |
| Seller removed items from house after walk through. Posted: 27 Aug 2020 04:59 PM PDT Let me preface this by stating this was our first home purchase so this might just be lesson learned. The seller didn't want to pay a buyers commission so they wanted to use an intermediary which we agreed to(first mistake). House was completely empty bar a few things in the garage, washer, dryer, hoses etc around the house. We were initially told we could keep the washer and dryer as buyer had moved to Michigan then told we could buy them for $300 and we declined. We viewed the house with said intermediary made an offer it was accepted all felt normal. We requested a few things be fixed and all was taken care of. We do a final walk through at 05:30 PM night before close to make sure said things looked good and repairs were good to go. Washer, dryer, etc was still all in the house which we thought was weird but whatever. We close at 3 PM next day loan is funded etc take possession of house and things have been removed after the walk through. Biggest issue for us was $300-500 fire pit in the back yard + wood + wood rack. Washer dryer were also gone plus hoses etc which weren't a big deal but would have been nice as they were there the night before. We text intermediary about the fire pit/wood etc as we thought they were included when we take possession of the house. He gives us a line about how the seller came through with a moving truck that day and loaded things up and took them with him to Wisconsin as they weren't attached to the house therefore not part of property. The title company told us the seller was already in Michigan for the close and they had to send out a remote notary for their piece of the signing. I understand the fire pit/wood isn't necessarily part of the realty and this may just be a bit of deception but I was seeing what if any any action we should take or just chalk this up first time home buyer naivety. Just left a bit of a sour taste in our mouths. [link] [comments]  |
| Childish dream or heaven in backyard? Posted: 27 Aug 2020 05:24 PM PDT My husband, three kids and I sold our home in March and are staying at his parents' house while they are abroad in Europe (indefinitely-they are dual citizens). Not many houses in the area we like are coming up. We even put an offer on one in June but someone else got it for 10k above our offer (which was 20k above asking). At first I was in a hurry to get the kids enrolled in the new school district but since Covid worries has caused classes to go virtual in their current district, I'm not as concerned about moving them now because school will be different and crazy for all the kids anyway. Getting to the point—I've always always always since I was a little girl with hopes and dreams wanted an in ground pool. My husband doesn't care either way and probably would prefer not to have one. But, I have a hard time being outside for long unless I'm around water. I just can't take the heat and bugs and stuff but if I'm in water or can get in water I'm fine. I also picture us being the house all the friends want to hang out at when my kids get older if we have a pool and I don't mind being that. I know we don't need a pool for that by the way. I love that it gives my kids options and motivates them to go outside. Recently some more homes in the area we like came on the market. But, no pool. Now that I'm not in a rush I kind of want to wait and see if we can still get a nice home with a pool already because it would cost so much to have one put in and I know it'll never happen. My husband thinks I'm being selfish but I know it's doable in this neighborhood and that it's just a matter of time before someone with a pool and everything else we want lists their home. Should we make an offer in this house-it does touch a lot of our wants other than the one thing I really want 😩 [link] [comments]  |
| Posted: 27 Aug 2020 11:35 AM PDT I closed on my first home today! I know it's a crazy market out there! I offered on multiple houses. I spent so many nights combing through redfin listings and my realtor's tool. I was able to beat out higher offers and get my home for the asking price. It appraised higher than I paid. It's all because my realtor used other points to make my offer more desirable! Keep faith. I know it's crazy. You will find your home! I'm terrified and excited. [link] [comments]  |
| Millennials Help Power This Year’s Housing-Market Rebound Posted: 27 Aug 2020 06:24 PM PDT https://www.wsj.com./articles/millennials-help-power-this-years-housing-market-rebound-11598520601
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| My appraisal came back earlier than expected! Posted: 27 Aug 2020 01:34 PM PDT Was supposed to take till the end of next week but I got it earlier today. It came at the price we have offered and not lower so that's a relief since we offered more than list. [link] [comments]  |
| Financing question. First time home buyer Posted: 27 Aug 2020 11:02 PM PDT Hi everyone. I'm not sure if I can afford this house. I think I can but I think I'm just getting cold feet I make 93k per year and my wife makes 40k. We are looking to put down an offer on a 400k house. Our monthlies will come to 2500. Let me know if I'm making mistake or am I fine and just getting too paranoid. [link] [comments]  |
| As a buyer, I'm losing my mind in this market [rant] Posted: 27 Aug 2020 04:34 PM PDT Homes are selling in the span of three days. We've tried pursuing 10+ houses but have ever put offers on two of them. One we ended up being stowed as a contingency as they closed, the other we got outbid with cash offer (we already overbid by 20k too!). I'll send a list of 10-15 homes a week to my real estate agent and they sell so fast we can only schedule three viewings max! Currently live in Hawaii, looking at homes across the country in upstate New York, and the time zone difference is kicking my ass. My stubborn husband refuses to rent an apartment instead, even just temporarily, no matter how much I or our real estate agent try to convince him to take the home buying process slow. The VA loan we are using is in his name so there's nothing I can do but try my best to help. We're supposed to PCS by mid-October, mid-November at the latest, and even that doesn't sound realistic. I check listings every hour but it feels so hopeless. [link] [comments]  |
| Rant: Bathrooms in Listing Photos Posted: 27 Aug 2020 11:22 AM PDT Small rant here. In many listing photos I see, the pictures of the master bath make it really hard to figure out the layout of the bathroom or where the master closet is. I get that it's sometimes hard to get good camera angles in some rooms, but it's still annoying. And a lot of the pictures don't show where the toilet is in the master bath. It would be nice to know if the toilet is separated by a door, or in the same room as the shower/tub. It's not a secret...people have bladders and bowels. Why hide the location of the toilet? [link] [comments]  |
| Posted: 27 Aug 2020 09:32 PM PDT I've seen a lot of advice on this sub to search for local lenders instead of going to quicken/rocket etc. I have my mind stuck on Navy Fed for a low down no PMI mortgage (1% origination and .75 discount points for a better rate). Google searches tend to just pull up the same 5–10 options but I'm curious if anyone knows of another competitive lender that's local to Washington? [link] [comments]  |
| Land lord charging me for refrigerator. Posted: 27 Aug 2020 09:24 PM PDT Recently moved out of my apartment after living in it for three years. Inquired with me landlord about my security deposit. Was told that not only would I not be getting my deposit back, but he was assessing me for the cost of a new refrigerator. His excuse being it was rusted, and the the cover that went over the drip tray beneath the water panel was broken. The fridge was working fine, and it was not rusted at all even in the pictures he provided. Does that sound at all normal to anyone? I've lived in 10 different apartments and I've never heard of anything like this. [link] [comments]  |
| Is this a crack in foundation? Posted: 28 Aug 2020 01:00 AM PDT Saw this on a house we are trying to buy. Is this a crack in the foundation? Should we be very concerned about it? [link] [comments]  |
| Importance of Public School Ratings Bay Area Posted: 27 Aug 2020 12:48 PM PDT Hi r/RealEstate, Does anyone have thoughts on the importance of schools by age group? Specifically K-5, 6-8, 8-12. In our market (Bay Area) and areas we're looking there is around a 300k-1MM price differential between neighborhoods with 8-9/10 public schools across the board versus either compromising on elementary/middle but a good high school/vice versa or on the other extreme lower <5 rankings. These are GreatSchools rankings. So far as I know in discussions and research private schools around here are 20-50k/yr/kid depending on the school. I would be interested in hearing the thoughts from parents or soon to be and compromises made (if any). Thank you [link] [comments]  |
| Posted: 27 Aug 2020 04:47 PM PDT Just had an inspection done on a 25 year old house I'm buying. The slab is close to pristine except some corner popping that is standard in the area. As a matter of fact, this is easily the best slab I've seen while looking. However there is a vertical and horizontal crack where a 10-12 foot span meets the wall. The cracks are about 10 in vertical and hairline, 18 inches long horizonal a bit more significant but have been patched and painted. They follow the line of the joint so that the corner and cracks form a t. There are no cracks on the other side of the wall (in a closet),on the ceiling under the joint, or anywhere in the house. The wall is not bowing and there is no water damage evident. The inspector was unable to access the attic directly above the joint due to blown insulation, wiring, and the design of supports. The seller says the cracks have not changed in over 10 years of ownership. Inspector said this is not uncommon for homes from the 90's as builders were still working out spanning gaps in that way. I even have had a similar crack in am apartment built around the same time. I'm debating a structural inspection to try to find the cause. But I have some questions. How concerned should I be about the crack? It certainly doesn't seem like the roof will cave in but I'm no where near an expert. I'm not confident the structural inspector would be able to assess this from the attic either. Would they have to rip out the dry wall to take a look or be willing to move a large quantity of insulation? How might that effect cost of inspection? If they have to rip out dry wall for the inspection I would assume the seller would take issue. I am very confident in the condition of the house otherwise. If I waited for an inspection post close and things went south with the joint what might I be facing? Considering that there are no other sings of damage present. [link] [comments]  |
| Sellers rejecting Full Asking offers? Posted: 27 Aug 2020 10:39 AM PDT Its happened twice now. I've offered on two Condos for the Full Asking price, and being the highest bidder (or only bidder), only to be rejected. The sellers thought they would be creating a bidding war by listing at a lower price than what they actually want to sell for. Clearly that didn't happen. Does this happen often? Its insanely frustrating. [link] [comments]  |
| Posted: 27 Aug 2020 05:41 PM PDT i know the first answer will likely be "word of mouth". that said, it's hard to take word of mouth seriously in the world of RE because it seems folks just want to recommend their family or friend who happens to be an agent. is there any other way to find a good agent? also, as a buyer, i was told to find an exclusive buyers agent, but they seem very hard to find. advice appreciated. [link] [comments]  |
| [meta] Suggestion for rate posts & questions Posted: 27 Aug 2020 11:31 AM PDT Seeing a lot of drive-by "I locked (very low rate) today!" with no details and little to no replies to questions. These posts can be helpful, but only with details, so I suggest mods make the following information required for posts that are primarily about rate:
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| Posted: 27 Aug 2020 01:24 PM PDT Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least December 31, 2020. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an Enterprise through foreclosure or deed-in-lieu of foreclosure transactions. The current moratoriums were set to expire on August 31, 2020. Source . Also Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend buying qualified loans in forbearance and several loan origination flexibilities until September 30, 2020. Source [link] [comments]  |
| Roommates breaking lease and refusing to pay rent Posted: 27 Aug 2020 11:06 PM PDT My brother and his 3 roommates renewed their lease on a 2 bedroom apartment for another year (2020-2021). Unfortunately since they've signed to renew, their college has announced that Fall classes would be completely online. His roommates all decided that they wanted to break the lease and move back home to save money since they wouldn't need to be on campus. My brother currently works on campus so he does not want to leave for that (and the college has not decided whether the rest of the year would continue to be online or not). The landlord indicated that his roommates could leave if they can find people to transfer their part of the lease to (but that they're still responsible for rent until then). However my brother had been pretty much on his own trying to find replacement roommates. To make matters worse, his roommates are now telling him that they do not intend to pay rent, despite not having anyone to take over their places. Will the consequences of them not paying ultimately fall on him/does he have any other options? They're renting in California if that makes a difference. [link] [comments]  |
| Cash purchase without an agent Posted: 27 Aug 2020 07:02 PM PDT I was arguing with my coworker who is planing to buy an off market house (for sale by owner), and he is paying cash for it. Neither the seller nor my friend (buyer) has agent. His argument is that he will get all needed inspections done, get an attorney for paperwork and go through a title company. I have always bought house with an agent and my argument to him was that there is more the agent does to protect the buyer but I really couldn't come up with anything. He's close to retiring and I would hate to see him make a wrong decision at this stage in his life, but I also don't want him to lose the house because he has been looking for while and according to him this is the perfect house for him. Looking for advise from anyone who has done this successfully or an agent who knows of a transaction like this go wrong. [link] [comments]  |
| Real Estate schools in Los Angeles? Need help Posted: 27 Aug 2020 03:01 PM PDT I'm going to be moving to Los Angeles early next year and I want to become a Real estate agent, it's my dream to work in Real Estate and in California: I'm wondering if anyone on here knows any good schools in Los Angeles or even the best real estate school school? Or has any recommendations. I'm blessed to have family supporting me, so if there's a really great school that's pricey that's fine, I want the best and to be the best. Thank you. [link] [comments]  |
| Posted: 27 Aug 2020 10:12 PM PDT So basically I found my dream home which right now is a little over $1 million and it would be my first home and I think it's going to sell quickly so I want to put an offer in immediately. I wasn't really expecting this so I am not even preapproved but I know my finances will pass. I'm basically wondering where I should go in the United States to get the very best rate on a 30 year mortgage, I'm willing to put 20% down if it makes sense and the loan would be near 1.5 million. I have heard that there are some lenders out there that will let you move $1 million in investments over to their company and as a result they will give you half a percent off of a mortgage or something like that. This is basically what I am wondering about. Does anybody know about this and anything you can teach me or can you guide me a little bit? [link] [comments]  |
| Posted: 27 Aug 2020 10:02 PM PDT I am under contract for a house to close in 30 days, but I just got a job offer in the same industry, just with a competitor, for 18% more money. They want me to start in two weeks. I've been at my current employer for five years. Is taking this offer going to screw me? I can't negotiate the start date as they want me for a sold and funded role that they need to fill on that date. [link] [comments]  |
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